EvilEgg: Tell me again what value real estate agents add?

Fark_Guy_Rob: Northern: EvilEgg: Tell me again what value real estate agents add?

A great realtor will give you a recommended sale price for your home to get rid of it quickly, at a higher price than you expected.  They will show the home and likely know other top realtors in the area to help sell your property even faster.
Do you want to check the comps, stage and show your home?  Realtors have a weapon in these cases, the buyers may have to pay the full 6%+ commission if the seller doesn't have an agent.  This results in fewer potential buyers.

So does Zillow and countless others.

Fark_Guy_Rob: akallen404: Moopy Mac: edmo: They've gotten rather spoiled the last few years where they haven't had to do anything but put the listing up. Half the time there's not even a picture just an address and a price and it sells that day. I'd suggest that real estate agents have forgotten how to do their job.

This is a reminder that their job is to earn commissions as quickly as possible. It isn't to maximize the amount their clients receive. There have been numerous studies on this subject. They are ripping of their clients, that's what they do.

Their job literally is to get the best deal possible for their clients. That doesn't mean they're actually GOOD at it (a lot of them aren't).

You can unlist from a realtor any time you want if you think he's doing a shiatty job and there's literally nothing they can do about it. An easy test for a good realtor os whether or not they tell you this up front.

Maybe you are in a state with some legal protection, but that's 100% false in every place I've lived and with ever Realtor I've used.

The contract you sign with them when you agree to list them expressly prevents it.

When sellers hire a listing agent to sell their home, they will enter into a contract with that Realtor. These contracts are often Exclusive Right to Sell contracts. In an Exclusive Right to Sell contract, the listing agent is owed the commission no matter who purchases the home. So even if you find the buyer, your Realtor will still get their commission. In many ways, this makes sense given that many Realtors put their own money and time into selling a home. These contracts may also contain some sort of clause that protects the Realtor in the case that the contract is terminated. This could mean that the seller still needs to pay the Realtor their commission even if they are fired. Or it could mean that there is simply no clause that allows the seller to remove themselves from the contract - even if they are unhappy with the agent.

I'm trying to be a nice guy, but it's hard for me to imagine a statement being more wrong than yours. At least, in the two states I've lived and sold property.

Marbleisheavy: akallen404: Fark_Guy_Rob: akallen404: Moopy Mac: edmo: They've gotten rather spoiled the last few years where they haven't had to do anything but put the listing up. Half the time there's not even a picture just an address and a price and it sells that day. I'd suggest that real estate agents have forgotten how to do their job.

This is a reminder that their job is to earn commissions as quickly as possible. It isn't to maximize the amount their clients receive. There have been numerous studies on this subject. They are ripping of their clients, that's what they do.

Their job literally is to get the best deal possible for their clients. That doesn't mean they're actually GOOD at it (a lot of them aren't).

You can unlist from a realtor any time you want if you think he's doing a shiatty job and there's literally nothing they can do about it. An easy test for a good realtor os whether or not they tell you this up front.

Maybe you are in a state with some legal protection, but that's 100% false in every place I've lived and with ever Realtor I've used.

The contract you sign with them when you agree to list them expressly prevents it.

When sellers hire a listing agent to sell their home, they will enter into a contract with that Realtor. These contracts are often Exclusive Right to Sell contracts. In an Exclusive Right to Sell contract, the listing agent is owed the commission no matter who purchases the home. So even if you find the buyer, your Realtor will still get their commission. In many ways, this makes sense given that many Realtors put their own money and time into selling a home. These contracts may also contain some sort of clause that protects the Realtor in the case that the contract is terminated. This could mean that the seller still needs to pay the Realtor their commission even if they are fired. Or it could mean that there is simply no clause that allows the seller to remove themselves from the contract - even if they are unhappy with the agent.

I'm trying to be a nice guy, but it's hard for me to imagine a statement being more wrong than yours. At least, in the two states I've lived and sold property.

It's not even a state issue, it's a requirement for licensing. Someone wants out of the listing agreement, then they're out, period. Obviously you can't just make a realtor do all the work and then cancel the agreement at the last minute, but if you don't have any offers or even anyone interested, you can end the agreement at any time.

Any realtor that tells you you can't is breaking the law, and if you report him for doing so, he'll likely face a fine or lose his license. He will probably threaten to sue you if he thinks you're a sucker, but if he tries to take you to court for ending a listing agreement, there isn't a judge in this country that won't laugh in his face.

You don't have a problem with realtors. You have a problem with swindlers.

/So does my dad
// His realtor tricked him into selling for $70k less than what he paid for it
/// Then re-listed the house a month later at full price.

Can you provide a citation for this because just I'm only finding things that say otherwise in the states I've bought and sold property in.

There have been duration of representation clauses to be the agent that I've seen, but I've yet to see anything that is a must-stop-on-request without penalty type deal.

I'd like to be wrong to be better prepared for my next transactions!