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Am I the only one that thinks realtors are raping the consumer? I am so sick of realtors questioning a .250 in interest rate, my origination fee or the processors fee when they are getting away with pure murder!

Why is everyone giving them a free pass to take so much of the American family's home equity? When I look up at the top of the HUD and see the 6% raping of the buyer/seller for doing a job that should not pay more than $3,000 TOTAL it just drives me insane!

If I get a buyer before they get too involved with a Realtor. I educate them about realtor commission and then have them get more educated on the internet and direct them to a real estate office in their city that specializes in helping buyers with realtor rebate.

And for a realtor to say anything negative about this it's pure hogwash!

Guest

Dear guest,

The problem is, the whole country is in a state of denial. They have paid thru the nose for so long that the realtors in the counrty have established this 6% standard. Everyone is lead like lambs to the slaughter and has their head chopped off at closing! LOL

I would suggest that you exploit the savings you have set up for your buyers like you are doing and hope nobody else catches on. Keep it a secret and keep on making money as I will be doing the same.

In other words...SHUT UP, let's not let the cat out of the bag! LOL

OR Broker

eric1 · Posted: Sun Jan 24, 2010 7:26 pm Post subject:

Guest, you do not have to pay 6%. You DO have other options..
1. Negotiate the rate down to an acceptable level.
2. Work with a discount broker
3. Sell the home yourself.

Oregon, you make no sense at all.

Guest

My Agent got 3%, just closed on 1/15/10..

Guest

Mr. Dent,

Was that 3% to your Buyer's Agent (your agent as a buyer) AND 3% to the listing agent (seller's Agent) ?

If so, you PAID FULL STICKER PRICE in realtor commission when their are Realtors that will represent you and do the same job for a flat $3,000 and rebate you back anything over the 3% of the equity paid to them at closing.

In other words, if it was a $300,000 purchase where the Buyer's Agent receives 3% = $9,000 they would only keep $3,000 and rebate you back $6,000.

Was this the case?

gmakerley · Posted: Mon Jan 25, 2010 8:54 am Post subject:

a buyer of a home doesn't pay 3% of anything to a realtor. the fees charged are taken from the sales price - in other words, it's a seller who pays for the realtors.

i understand someone's reluctance to pay "full sticker price" but i don't understand why a person's hard work should be denigrated and motives be questioned.

Guest

Oh George,

STOP!!!!!!!!!!!!!!!!!!!! Stop with this BC that the seller pays the 3%! Then answer this one question...If the seller did not have to pay the Buyer's Agent or if the Buyer's Agent was to reduce their Realtor Points, could the seller then sell the home to the buyer for less? I REST MY CASE!!!

You need to stop assisting Realtors in continuing to FOOL the uneducated Consumer!

So George, what do you think about Realtors that will give the same service or even better service to buyers who will also agree to do it at a FAIR fee of say $4,000 on a $400,000 purchase and will rebate back $8,000 to pay their clients closing costs?

Let's hear your response ?

gmakerley · Posted: Tue Jan 26, 2010 8:39 am Post subject:

if i'm a seller looking to make the maximum amount of money from my sale, i doubt if i'd be looking for a way to reduce my price, regardless of realtor commissions. i suspect that may be why there are so many fsbo's around.

i think a realtor earning $12000 and giving back $4000 of it to a buyer better have one helluva good tax advisor, so as to be sure that there's an even tradeoff between the taxed income and the (presumably) tax deduction afforded by such a rebate. there's not a whole lot of sense in that, to me. but that's just me.

but thanks for coming down to a relatively rational plateau in your argument. you were a bit over the top earlier.

Guest

Geaorge,

You are a very uninformed Mortgage Broker to be a Community Mentor.

First of all a Realtor can't do anything to EARN $12,000 for selling a $400,000 home...PERIOD!

Second, the Realtor is only taxed on the potion of the $12,000 they keep. A $4,000 flat fee is more than fair to a MLS Menu Reader. The $8,000 they credit back at closing towards paying the buyer's closing costs IS NOT income sir! If that was the case then everyone would be getting taxed for what the seller pays on the buyer's closing costs.

You, like most Mortgage Brokers who don't know about Realtor Rebate do nothing but show your lack of knowledge when spouting off about it and end up looking like a fool.

Google Search: Realtor Rebate, or Realtors who Rebate, or Realtors rebate or whatever and get educated on this MASSIVE savings consumers have at their fingertip it they can get past people like you telling them the world is flat...

gmakerley · Posted: Tue Jan 26, 2010 8:51 pm Post subject:

presumptuous aren't you? i am not a broker - have i ever said i was? nope.
seller paid closing costs would never be taxed - what a ridiculous analogy.
hmmm...where did i say anything about the world being flat?

why do i bother to rebut your nonsense? you're on a mission, and i don't disagree that it's beneficial to anyone to try to save money, but i absolutely believe that you're going about it the wrong way.

slamming others for their opinions is a wasteful way to spend your energy, and guess what? it all comes back around, baby.

it'd be nice if you'd get off my back, but i don't anticipate that happening. so i'll just mosey along, thanks.

Guest

Goerge,

It's just so sickening to see consumers just give away 3% of their home equity to a realtor who does not deserve more than $4,000 as a buyer's agrent.

Yet, they will then shop like a crazed maniac for a .25% in rate and scream bloody murder on a Origination fee!

If you had 2 indentical new Toyota Camrys in front of you, you could buy one for $15,000 and another for $30,000 what Brain Dead fool would pay $30,000? Yet consumers continue to lay down and allow these realtors to RIP THEIR HEADS OFF!

I

raymond · Posted: Wed Jan 27, 2010 7:32 pm Post subject:

>> but i don't anticipate that happening. so i'll just mosey along

That's what I decided to do too - especially after I saw the "guest" was using 4 different login accounts to support everything he was saying.

gmakerley · Posted: Thu Jan 28, 2010 9:32 am Post subject:

yea and amen, raymond

Guest

Does not matter, what's sad is how you as Brokers don't know enough about the subject to be advising anyone.

You have no clue how this savings work so you try and make people doubt it instead of obtaining it for your clients who come to you with out a realtor.

Google Search this savings and tell everyone how 500,000 sites offering this savings are somehow not as smart as you..

Guest

That usually exposes the uneducated and shuts them down

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6% REALTOR COMMISSION SHOULD BE AGAINST THE LAW