Hell Yes! - Off Topic (Non Trade) - Contractor Talk

Hell Yes!

 
Thread Tools Search this Thread Display Modes
Old 03-19-2019, 07:12 PM   #1
Pro
 
Big Johnson's Avatar
 
Trade: Contractor Grunt
Join Date: Jun 2017
Location: Michigan
Posts: 3,938
Rewards Points: 3,748

Hell Yes!


The lawyers who took on Big Tobacco are aiming at Realtors and their 6% fee



https://www.marketwatch.com/story/bi...fee-2019-03-19
Big Johnson is online now  
The Following 5 Users Say Thank You to Big Johnson For This Useful Post:
Deckhead (03-20-2019), griz (03-19-2019), hdavis (03-20-2019), MarkJames (03-20-2019), TxElectrician (03-19-2019)

Warning: The topics covered on this site include activities in which there exists the potential for serious injury or death. ContractorTalk.com DOES NOT guarantee the accuracy or completeness of any information contained on this site. Always use proper safety precaution and reference reliable outside sources before attempting any construction or remodeling task!

   

Advertisement

 

Old 03-19-2019, 08:01 PM   #2
Pro
 
KAP's Avatar
 
Trade: Custom
Join Date: Feb 2011
Posts: 10,934
Rewards Points: 33,470

Re: Hell Yes!


Hard check to write but you don't have to pay them at all if you don't want their services...

Advertisement

KAP is offline  
The Following 4 Users Say Thank You to KAP For This Useful Post:
Calidecks (03-20-2019), jproffer (03-20-2019), Rio (03-19-2019), SmallTownGuy (03-20-2019)
Old 03-19-2019, 09:02 PM   #3
Pro
 
Big Johnson's Avatar
 
Trade: Contractor Grunt
Join Date: Jun 2017
Location: Michigan
Posts: 3,938
Rewards Points: 3,748

Re: Hell Yes!


Quote:
Originally Posted by KAP View Post
Hard check to write but you don't have to pay them at all if you don't want their services...
You need to read the article.

Itís all true and Iíve had multiple realtors tell me the same stuff.
Big Johnson is online now  
Sponsored Links
Advertisement
 
Old 03-19-2019, 10:39 PM   #4
edward trowelhands
 
Golden view's Avatar
 
Trade: Diplomat
Join Date: Feb 2012
Location: PDX
Posts: 4,480
Rewards Points: 6,188

Re: Hell Yes!


Quote:
Originally Posted by KAP View Post
Hard check to write but you don't have to pay them at all if you don't want their services...
Yeah I always thought $30,000 seemed like a reasonable amount of money to take a few pictures, post them online with bad grammar and typos, host an open house, show the house 5 times, and fill out some paperwork.
__________________
You make something idiot proof and the world invents a better idiot.
Golden view is offline  
The Following 3 Users Say Thank You to Golden view For This Useful Post:
Big Johnson (03-20-2019), Deckhead (03-20-2019), Seven-Delta-FortyOne (03-25-2019)
Old 03-19-2019, 10:55 PM   #5
Pro
 
KAP's Avatar
 
Trade: Custom
Join Date: Feb 2011
Posts: 10,934
Rewards Points: 33,470

Re: Hell Yes!


Quote:
Originally Posted by Golden view View Post
Yeah I always thought $30,000 seemed like a reasonable amount of money to take a few pictures, post them online with bad grammar and typos, host an open house, show the house 5 times, and fill out some paperwork.
If it were that simple everyone would be doing it....

I remember the first house we bought decades ago... must have looked at 50+ houses at the time before we picked it...

Last thing I want to do is defend realtors, but reality is, you go into it with your eyes wide open on what you expect, and most importantly, agree to pay (i.e. - 6%)...

There are options to sell your home that don't involve an agent... But most people who are selling are also going to buy so while they get hit with the 6% on the way out they benefit on the way back in not paying any commission... someones got to bring the buyer and agents are also competing to do so...

It's why the median income of the majority of real estate agents is only an average of around $52K/year...
KAP is offline  
Old 03-19-2019, 11:10 PM   #6
Member
 
Ed Hartmann's Avatar
 
Trade: Carpentry
Join Date: Dec 2018
Posts: 91
Rewards Points: 210

Re: Hell Yes!


They sure are good at getting the buyer and seller to hire a lot more professionals that take a lot of the work and responsibility off of both realtors.
Ed Hartmann is online now  
Old 03-19-2019, 11:16 PM   #7
Pro
 
hdavis's Avatar
 
Trade: remodeling
Join Date: Feb 2012
Location: CoastalME
Posts: 23,032
Rewards Points: 1,762

Re: Hell Yes!


Fees are negotiable. I knew a broker that only did exclusive listings and charged 10%. I don't remember I I w much to be a buyer's broker.
hdavis is online now  
The Following User Says Thank You to hdavis For This Useful Post:
SmallTownGuy (03-20-2019)
Old 03-20-2019, 01:06 AM   #8
3 Jacks 2 Nines
 
bwiab's Avatar
 
Trade: Wannabe Homebuilder
Join Date: Mar 2006
Location: Arvada Colorado
Posts: 351
Rewards Points: 290

Re: Hell Yes!


I wish the lawyers that took on big tobacco would take on the lawyers...
bwiab is offline  
The Following 4 Users Say Thank You to bwiab For This Useful Post:
Deckhead (03-20-2019), finisher65 (03-20-2019), hdavis (03-20-2019), KAP (03-20-2019)
Old 03-20-2019, 04:55 AM   #9
John the Builder
 
SmallTownGuy's Avatar
 
Trade: Carpenter/Builder Professional Painter
Join Date: Sep 2012
Location: Oxford, MI
Posts: 15,731
Rewards Points: 7,298

Re: Hell Yes!


Quote:
Originally Posted by KAP View Post
If it were that simple everyone would be doing it....

I remember the first house we bought decades ago... must have looked at 50+ houses at the time before we picked it...

Last thing I want to do is defend realtors, but reality is, you go into it with your eyes wide open on what you expect, and most importantly, agree to pay (i.e. - 6%)...

There are options to sell your home that don't involve an agent... But most people who are selling are also going to buy so while they get hit with the 6% on the way out they benefit on the way back in not paying any commission... someones got to bring the buyer and agents are also competing to do so...

It's why the median income of the majority of real estate agents is only an average of around $52K/year...
yup
__________________
All my Life loving Hippie friends turned into soul-sucking Conservatives - or died. Same difference.
"Mornin' ladies, my goodness don't you look happy. Must be cuttin' somebody up pretty good." - Andy Griffiths
SmallTownGuy is offline  
Old 03-20-2019, 06:41 AM   #10
Pro
 
Big Johnson's Avatar
 
Trade: Contractor Grunt
Join Date: Jun 2017
Location: Michigan
Posts: 3,938
Rewards Points: 3,748

Re: Hell Yes!


Quote:
Originally Posted by hdavis View Post
Fees are negotiable. I knew a broker that only did exclusive listings and charged 10%. I don't remember I I w much to be a buyer's broker.
The article suggests the buyers agents commission is whatís illegal because the guy paying it doesnít get to negotiate.

Read the article, it takes less time than to write all the bs you just wrote. Youíre a pain in the ass on here so itís not surprising that youíre a pain in the ass to your realtor, the one someone else paid for.
Big Johnson is online now  
The Following User Says Thank You to Big Johnson For This Useful Post:
hdavis (03-20-2019)
Old 03-20-2019, 06:43 AM   #11
Pro
 
Big Johnson's Avatar
 
Trade: Contractor Grunt
Join Date: Jun 2017
Location: Michigan
Posts: 3,938
Rewards Points: 3,748

Re: Hell Yes!


The median income is only $52K because the vast majority are part timers. They either have another job, stay at home mom/dad or just plain lazy and only want to work a couple hours a week.
Big Johnson is online now  
The Following User Says Thank You to Big Johnson For This Useful Post:
Golden view (03-20-2019)
Old 03-20-2019, 06:44 AM   #12
Pro
 
Idothat's Avatar
 
Trade: Home improvement of all types
Join Date: May 2018
Location: Richmond va
Posts: 810
Rewards Points: 1,802

Re: Hell Yes!


Quote:
Originally Posted by Big Johnson View Post
The article suggests the buyers agents commission is whatís illegal because the guy paying it doesnít get to negotiate.

Read the article, it takes less time than to write all the bs you just wrote. Youíre a pain in the ass on here so itís not surprising that youíre a pain in the ass to your realtor, the one someone else paid for.
Need some coffee this morning ?
Idothat is online now  
The Following User Says Thank You to Idothat For This Useful Post:
hdavis (03-20-2019)
Old 03-20-2019, 06:46 AM   #13
John the Builder
 
SmallTownGuy's Avatar
 
Trade: Carpenter/Builder Professional Painter
Join Date: Sep 2012
Location: Oxford, MI
Posts: 15,731
Rewards Points: 7,298

Re: Hell Yes!


Rates here in Michigan are highly variable.

https://www.upnest.com/1/post/averag...mmission-rate/
__________________
All my Life loving Hippie friends turned into soul-sucking Conservatives - or died. Same difference.
"Mornin' ladies, my goodness don't you look happy. Must be cuttin' somebody up pretty good." - Andy Griffiths
SmallTownGuy is offline  
The Following User Says Thank You to SmallTownGuy For This Useful Post:
hdavis (03-20-2019)
Old 03-20-2019, 07:10 AM   #14
Pro
 
TimNJ's Avatar
 
Trade: Remodeler
Join Date: Sep 2005
Posts: 5,954
Rewards Points: 4,370

Re: Hell Yes!


Everything is negotiable.

Last two properties I bought, I didn't have my own "buyers" broker, I dealt directly with the sellers listing agent. I was looking at some property last week I found through "realtor.com" and they had some call center trying to push me to have another agent represent me.

I didn't need to have my own agent. I'm a big boy and can negotiate my own deals. If the seller wants to sell, they will sell is what I told them.
__________________
Trump-The "Con Man's" Con Man.
TimNJ is online now  
The Following 2 Users Say Thank You to TimNJ For This Useful Post:
hdavis (03-20-2019), KAP (03-20-2019)
Old 03-20-2019, 07:20 AM   #15
Pro
 
hdavis's Avatar
 
Trade: remodeling
Join Date: Feb 2012
Location: CoastalME
Posts: 23,032
Rewards Points: 1,762

Re: Hell Yes!


Quote:
Originally Posted by Big Johnson View Post
The article suggests the buyers agents commission is what’s illegal because the guy paying it doesn’t get to negotiate.

Read the article, it takes less time than to write all the bs you just wrote. You’re a pain in the ass on here so it’s not surprising that you’re a pain in the ass to your realtor, the one someone else paid for.
I read it before I posted. If sellers don't like standard terms, they can negotiate their own if a broker is willing.. I"ve never used the standard terms.

Last edited by hdavis; 03-20-2019 at 07:29 AM.
hdavis is online now  
Old 03-20-2019, 07:25 AM   #16
Pro
 
hdavis's Avatar
 
Trade: remodeling
Join Date: Feb 2012
Location: CoastalME
Posts: 23,032
Rewards Points: 1,762

Re: Hell Yes!


Quote:
Originally Posted by TimNJ View Post
Everything is negotiable.

Last two properties I bought, I didn't have my own "buyers" broker, I dealt directly with the sellers listing agent. I was looking at some property last week I found through "realtor.com" and they had some call center trying to push me to have another agent represent me.

I didn't need to have my own agent. I'm a big boy and can negotiate my own deals. If the seller wants to sell, they will sell is what I told them.
Seller brokers may kick in part of their commission when you do that, but it really depends on the circumstances. It's negotiable by the buyer.

Last edited by hdavis; 03-20-2019 at 07:28 AM.
hdavis is online now  
The Following User Says Thank You to hdavis For This Useful Post:
TimNJ (03-20-2019)
Old 03-20-2019, 07:33 AM   #17
Artist and not a curator
 
Deckhead's Avatar
 
Trade: Carpentry,
Join Date: Dec 2010
Location: Sarasota, Florida
Posts: 7,739
Rewards Points: 13,054

Re: Hell Yes!


We're thinking of selling in the fall. I'm not going to use an agent. Last two houses I bought, no agents used.

I find them to be less helpful than they're worth. For the amount of money I have to pay them they have to make my life exponentially easier. Their cost to value ratio isn't there for me, so I simply don't use them.
__________________
[signature removed by admin]
Deckhead is online now  
Old 03-20-2019, 07:45 AM   #18
Pro
 
tjbnwi's Avatar
 
Trade: Remodeling
Join Date: Feb 2009
Location: Cedar Tucky, Indiana
Posts: 9,672
Rewards Points: 3,162

Re: Hell Yes!


Anybody else remember FSBO?

Tom
tjbnwi is online now  
Old 03-20-2019, 07:46 AM   #19
Pro
 
Big Johnson's Avatar
 
Trade: Contractor Grunt
Join Date: Jun 2017
Location: Michigan
Posts: 3,938
Rewards Points: 3,748

Re: Hell Yes!


Most buyers around here are signed with an agent. If you don’t agree to pay the agents fee they will not allow the deal to happen. Been there and done that. I was fsboing once and the buyers agent demanded 4%. I refused and she killed the whole deal. Buyers were pissed they lost out on the house but I moved on and found another buyer.
Big Johnson is online now  
The Following User Says Thank You to Big Johnson For This Useful Post:
hdavis (03-20-2019)
Old 03-20-2019, 07:46 AM   #20
Pro
 
hdavis's Avatar
 
Trade: remodeling
Join Date: Feb 2012
Location: CoastalME
Posts: 23,032
Rewards Points: 1,762

Re: Hell Yes!


Quote:
Originally Posted by Big Johnson View Post
The article suggests the buyers agents commission is what’s illegal because the guy paying it doesn’t get to negotiate.

Read the article, it takes less time than to write all the bs you just wrote. You’re a pain in the ass on here so it’s not surprising that you’re a pain in the ass to your realtor, the one someone else paid for.
I've had a fair number of real estate transactions. The agents love me because I know what I'm doing and I don't BS around. The seller's agent makes their money when the listing contract is signed. The buyer's agent usually does way more work when there are seller and buyer's agents compared to the seller's agent.

The first clue a RE agent is going to get the listing and do nothing is when you ask them about the listing price and sales price. If the listing price is way above what the actual sale price is likely to be, they're more interested in getting the listing than giving sound advice. Or, it could be they don't know the market. Either way, it's a flag.

Advertisement


Last edited by hdavis; 03-20-2019 at 07:51 AM.
hdavis is online now  


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Help Thinking outside the box here... CONCRETE HELL!! JeremyBCalnan Tools & Equipment 37 06-24-2014 10:33 PM
More Flat Roof Hell Lettusbee Roofing 15 07-25-2013 10:55 PM
Heater from hell SlumberJack HVAC 26 10-14-2012 05:26 AM
Where the hell is Mikes Plumbing? Jaws Off Topic (Non Trade) 15 08-22-2011 01:07 AM

Join Now... It's Fast and FREE!

I am a professional contractor
I am a DIY Homeowner
Drywall Talk is for
PROFESSIONAL CONTRACTORS ONLY!

At DrywallTalk.com we cater exlusivly to professional contractors who make their living as a contractor. Knowing that many homeowners and DIYers are looking for a community to call home, we've created www.DIYChatroom.com DIY Chatroom is full of helpful advices and perfect for DIY homeowners.

Redirecing in 10 seconds
No Thanks
terms of service

Already Have an Account?