Housing Rumble: Do You Need an Agent? (Day 2)

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Nice article

arhiderrr of DE 3:09AM March 01, 2009

Nice article

arhiderrr of DE 7:21PM February 28, 2009

Nice article

arhiderrr of DE 10:27AM February 28, 2009

Greg makes good points but I'd like to also hear the benefits for a buyer.

Chiamaka of PA 8:20AM November 25, 2008

Clarification, please. The listing agent does not get the 6% of the commission - half of that will go to pay the buyer's agent for the buyer representation services. When ForSaleByOwner.com lists homes in the MLS (an absolute must to sell a home) through affiliated brokers, the home is technically listed by a broker for a discounted commission. So it's misleading to state that the buyer saves 6%. The seller will still end up paying 3% or so to the buyer's agent plus whatever fee to ForSaleByOwner.com for "listing" the property.
That's a great business model, do nothing but enter a property in the MLS and get paid. How do I join?
Healy forgot to mention that the reason commissions are so "steep" is because of advertising costs. $2,000 - $3,000 per home whether or not it sells (more than 50% of them will not). Do the math and then figure our how much does the agent really makes.
I stopped listing homes at discounted rates. Sorry, but real estate business model is too risky to afford discounted prices. Unless of course you simply charge hundreds of dollar for data entry and provide zero representation, zero advertising, zero risk and call it "for sale by owner".

Konst of PA 12:06AM November 20, 2008

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Aboutsodfd 5:41AM September 13, 2008

Tell me if I am wrong:
1) Failure to properly analyze risk results in unusual loan losses - Interest rate justifies risk and therefore 100% rate means 100% certainty we will not have delinquency -- what?
2) Parties to a contract paid based upon the highest price obtained has an interest to do only one thing and that is to promote the highest price;
3) We buy out of passion not sensibility -- next time you use your walkman you talk to me of essentiality;
4) Greed looks good on Paper until the truth is published;
5) If you make money as much as you can and as fast as you can ethics is hard to retain;
6) Loan programs that will result in a sale is perceived as a good thing;
7) Legislators don't have time to legislate;
8) Enforcers don't have time to enforce;
9) Honesty has a price that no man is oft willing to pay;
10) Last and not least is that we have so much money that we have to pay overtime to print it.
You figure it out and then let me know the answer.

Norm Barnes of 10:33PM September 02, 2008

I do have to correct Healy here. You HAVE TO HAVE A REALTOR TO PUT A HOME IN MLS. By putting a property in MLS you as the seller create an agency relationship with a real estate agent/broker. Multiple Listing service is created and maintained by REALTORS. Simply enough, we pay for it, we work it and maintain it. By putting your property on it, you are working with a REALTOR. The difference is your compensation and services provided are less that a typical full service REALTOR. If you don't like that, you can creat your own, become a REALTOR youself, or simply don't use it. That's the great thing about our country... You, the consumer, always have the right to choose.

LSW of TX 3:47PM August 06, 2008

Is this a new type of masked advertising for "for sale by owner"??!!!.....ooohhhh we offer "help with no commission" ....
Wake up, everybody "For Sale By Owner" is another type of business, but is still a BUSINESS, a cheap one if you're looking at their service, 0 quality plus a web site.
Well said Winder!

CICI of IL 2:58PM July 19, 2008