Are REALTORS really very RELEVANT anymore?

[hattaresguy]

Originally Posted By: RAM_Designs
I used one as a buyer, cost me nothing...and made it very easy when submitting an offer. I cannot stress how easy it was, and again, cost me nothing.


Absolutely, buyers are foolish for not using an agent its costing them nothing. OTOH the selling agent loves it because they get both sides of the commission!

For some reason people have a strange aversion to sales people and will take the hard road and avoid buyers agents, I see it all the time.

 

[hattaresguy]

Originally Posted By: Wolf359
Originally Posted By: hatt
Most listing agreements are for at least six months. If it sat on the market for 4-5 months before getting a contract it wasn't underpriced. Most people have no clue of what properties are worth. What the seller, or his son, "thinks" it's worth couldn't be less important to the actual value.


The seller determines the sale price, but the buyer will only pay what the property is worth. If the seller overprices the home, then there's no sale.

I once brought a buyer to see a FSBO and it had been on the market for over 2 years. I tried to show the sellers some comps but he started to go on about how that one particular sale was a distressed sale, guy had to sell for one reason or another. But there's always properties on the market due to the 3 D's, death, divorce, and disease, not to mention job loss, relocation etc. A comp is a comp is a comp. I knew I was wasting my time talking to him and that's why his property was so overpriced and still on the market 2 years later. I think he'd finally sell when the overall market moves up to his price level assuming he doesn't increase his price later.


What those FSBO's don't realize is that even if they found a buyer that agreed to their full asking price they still wouldn't sell the house.

Come mortgage time the banks appraiser is going to pull up those same comps and value the house. The banks don't care what the owner thinks or how nice his gardens are, the house is only worth X and they will only lend Y.

By by deal and buyer at that point.

 

[cmhj]

I hate realtors!

 

[HTSS_TR]

It depends on location.

I sold my house last year without agent for more than the best offer I got with an agent. Combined commission saving and higher selling price I saved more than $100k. What I mean "Save" is after all costs my bank account has more than $100k than if I accepted the offer I got with agent.

But I used agent when I bought current house, she kick back $3k after closed escrow.

 

[hatt]

Originally Posted By: HTSS_TR
It depends on location.



But I used agent when I bought current house, she kick back $3k after closed escrow.
Was the "kickback" on the HUD?