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Isn't the main value of a realtor the ability to provide access to the home for sale, monitor the visitor, and provide insight in regards to the construction &
by ssewell 9y ago
Isn't the main value of a realtor the ability to provide access to the home for sale, monitor the visitor, and provide insight in regards to the construction & quality of the home?
I don't think most people expect the realtor to recommend random homes based on the buyers preferences, as most people use services, such as RedFin, to narrow down the homes that match their best fit.
- berberous 9y agoAnd that's worth 3%? The issue with realtors is the exorbitant fees they still charge.
- dmreedy 9y agoHave you ever worked with a realtor? The fee may seem exorbitant because you pay it in a lump sum. But if you were to try and calculate their hourly fee, you'll see even the mediocre ones who are only moderately attentive to their clients are often making only a few dollars an hour.
- ryandrake 9y agoExactly. I worked with a buyer's agent for 2+ years, and during that time saw over 100 houses and submitted about 30 written offers. None of the offers were accepted, so he made $0 from me. I felt kind of bad, but the money he makes from his successful transactions probably makes it worth it. Not my problem. I don't know if they deserve a % of the purchase price, but they definitely ought to at least charge by the hour.
- bradly 9y agoIn my experience a good realtor will either save you 3% when buying or get you an extra 3% when selling by knowing the area, knowing the right improvements to make, home staging, and negotiating.
- gpawl 9y agoIt's only exorbitant since the price of housing has skyrocketed in the past 20 years
- pmiller2 9y agoMaybe so, but why is that worth a 3% commission on the sale price, on both sides of the transaction?
- ssewell 9y agoI never understood the 3% myself. Why does someone get $60,000 for performing the relative same amount of work when a home sells for $2M?