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| Real Estate agents the most overpaid people in construction
Posted: 6/21/2008 5:04:32 PM | Ok, I know a few that are honest, but then I'm sure there are honest lawyers out there, too.
Now I'm sure that someone will run in and defend them, saying it's the sellers that are greedy too, but let's face facts. It's the agent who tells the client what they should list their property at, and the drooling idiots will salivate at the big number, never thinking a moment about the fact that their soon-to-be crackhouse isn't worth half what this banker in sheep's clothing is suggesting.
The agents run home and touch themselves, self-satisfied at their own ability to manipulate people (fine, I made that part up, but it sounds about right). Then a buyer's agent will convince some fool that the asking price is fair. Everyone goes home a little richer than they deserve to be, except the buyer who bought an outhouse with a nice paintjob, and the neighbours whose property taxes will spike because the new idiot next door likes to hemorrhage money.
My lottery fantasy involves finding a nice house, putting in a bid at less than half the asking, and buying off all the other bidders. I'd even pay the former owner the difference between what I bought it for and the amount they'd get after commission. Then I'd find every deficiency the agent failed to disclose and attempt to sue them out of the commission. It'd cost me more in the long run, but it would be worth it to make one suffer. | |
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| Real Estate agents the most overpaid people in construction
Posted: 6/21/2008 8:03:05 PM | I was an agent for 15 years, yes I made alot of money but my clients made alot more.
I dont do residential any more-all my deals now are multi-million dollar deals
When I did do residential I was working an average of 70-80 hours a week! It cost me dearly-time away from the family
There is a saying 90% of the money is made by 10% of the agents not so much true any more but the good ones will survive. There is alot of agents right now in the Gta something like 1 agent for every 3 households thats too bad the supply /demand factor will drive commissions and service lower.There are aleady several discount brokers on the market right now working for very little. And you should expect very little from them-with the market conditions changing to favour buyers now -for an agent to do a proper selling job -he has to spend alot time and advertising as well as consulting the sellers.Yes you can always try the For sale by owner thing and some have succeeded and yet some have horror stories to tell you.
I tell you OP one things for sure , you would be working for me before I ever worked for you. | |
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| Real Estate agents the most overpaid people in construction
Posted: 6/23/2008 11:21:34 AM | i don't know what area you are in, but i disagree. sure, i've had some sh-tty agents, but i've also had some sh-tty doctors and teachers and plumbers. as with everyone, you need to know what you need to know and not just sell your house blindly. with the web, there are many tools to accomplish this.
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real estate is a risky business. here in CA the markets have been highly distorted. so, during certain times, sure the agent made a quick buck. but knowing that, you could have sold your house on your own. there are even agencies to help you do that, if you wanted to do the work.
the real problem has been the banks. in the past, a pre-approved mortgage meant something. it meant you had a good job, good credit and a good downpayment. i shudder to think who bought my old house. they didn't even have credentials, but they bought it and i left it in good condition, praying that this family would make it through. i am sure it was a 100 percent financing. i am sure they were going to move others in with them to afford even the mortage. but is this the agent's fault? is it her or his job to discriminate? no, they are to sell the house and do so within the law. the banks are supposed to determine credit worthiness.
now that times are rough, agents are suffering. if they did not get caught up with the upsurge and the high of all these high priced, ugly houses here, they put some money away and can ride these tides.
also, i pushed mine to do special effects with my listing. if i did n't he would not have done it. however, that being said, when i got divorced, this same man connected me in with all his cronies and got me an attorney, assessor, etc. he was smart. i bought the house from him, he helped me out and two years later, i let him sell the house. i had a robbery while i was not living there and he was way too AD/HD to keep that house safe with the proper keys, etc. but, overall, counting the rest he did for me, i have to say that i hold no grudges and wish him the best. if he were my doctor, then i would be a bit more worried.
as to construction, they sure rip that off too. but now they too are hurting. it takes a lot of time for a homeowner to find good construction people and i think if you want to keep them, you need to help them continue to get work in these bad times, so they can remain available to you. plus you can help your friends who have to go through all the nuts. here everyone is either only knowing how to build new houses, or they are stoned out of their gourds, or they have charged way too high during the boom. i have found a group of guys in their mid 30's who are doing quality work, and i now feel better that the world is not totally disintegrating when it comes to this field. having come from pa, nj and ny i was used to the old timer craftsmen. i hope they are not a dying breed.
ps OP, people only bought these houses for two reasons: shortage of stock and bank loans at a hundred percent. it's economics. if either factor did not exist, the houses would not have sold, just look at the overall market now. if you buy your house, be sure to "invest" in quality inspections. at least in this area, once found, results must legally be divulged to the next potential buyer if you opt out. thus, often the seller will then take a reasonable offer, because they must alter their illusive marketing package, with the findings. some, however, don't want to pay to inspect. if a seller uses an inspector of his/her own, you can bet they are not the kind you would hire as the buyer. | |
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