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Viggy, Fido, Rahul, BlueLobster and others,
Your unbaised views about the real estate profession are very much appreciated.
Thanks,
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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/
Quote:
Originally posted by viggy
If one is more comfortable with 1% commission agent, for for that. I don't like paying 13% tax on pretty much everything I buy, but then, I don't have a choice.... In this case, I do have a choice. All options may not have equal visibility, but options are there...
The 1% commission is again a myth. In reality 1% is the listing brokerage's fee only (unless specified), plus agency will add another 2.5% (negotiable, but reducing this amount may not make sense) for the other brokerage. So 1% does work out to 3.5% that sellers end up paying.
In general the real difference narrows down to only 1.5% when choosing an agent who charges full commission vs. not full commission.
Will you agree that a good salesperson; someone who knows his/her stuff, can get the seller more (say extra $3,000-$5,000 on a $300,000 property) and may also sell the property faster?
I certainly agree with the above.
In tougher times like now and going forward in the new year, it will be vital for the sellers to choose the right combination of price, marketing, terms, overall home condition, and above all the expertise of a good REALTOR®.
Hope it helps!
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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/
Quote:
Originally posted by Fido
Do you need a realtor ??? - As far as the house listings go , they can always be availed through websites and news papers ............ even after you have priced a house and you buy it , you have to get an inspection done and papers checked ....... and pay for the same under any case . ...... for getting to know the listing and negotiating one needs to pay 5 % .... on a property worth 300K , 15K go from the pocket never to come back .....and for what .......... for know the listings and negotiating ....... and since the system supports it , hence the criticism ....
I feel you are confusing between buying and selling. The steps you outlined and the checks you discussed relate to Real Estate Buying, not selling. In that case the buyer is not paying any commission - it is paid by the seller.
I do agree with Viggy's post - there are always options for seller - to either sell directly or use the services of low commission agents - the choice is entirely the sellers. I would also not like to questions someone's earnings - they get what the market is ready to pay for...I am sure many people are complaining about the 5% commission and thats the reason there is a market for the lower % commission as well. Lets not criticize anyone else's earnings.
The only shortcoming I can see from Realtor's.ca website as a buyer or seller is the absence of information regarding pricing of similar/comparable properties in the neighbourhood, price history of the area. But that is supposed to be private and confidential information - though I think (I believe) the realtors do have access to it.
Its funny that the person criticizing the realtors for the 'hefty' commission, himself wants to become a realtor - if he had a choice. The mere fact that he cannot become, or is not easy to become one justifies the hardworking and successful realtors earnings.
Hope we have a very constructive discussion.
Hiren
Quote:
Originally posted by hchheda
Its funny that the person criticizing the realtors for the 'hefty' commission, himself wants to become a realtor - if he had a choice. The mere fact that he cannot become, or is not easy to become one justifies the hardworking and successful realtors earnings.
Hiren
Another reason why a person may not want to do a job is because he does not consider it to be reasonable ... despite the money involved .... not to compare but just as an example ...a doctor from outside trying to become a salesman in Canada ...
Yes - I agree that directly as a buyer we do not have to pay the commission but for an intelligent seller , it will always be a part of the price ... So the buyer ends paying it up ....... and 15K is an year's rent . ........ but I maintain what I ve said earlier ....... demand and supply irons it out per the system .......
Pray Amit and other realtors on the board (and Hiren thou too).... please do not take this personal since it is not intended to be ... Your posts are highly appreciated .
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Fido.
How much price change do we expect in a year (Nov 2009 vs Nov 2008) in your local city?
1. -10%
2. -20%
3. -30% and more
4. +5%
5. +10%
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My Ans: 2 atleast.
Location: Mississauga - Square One
Posted on: 13-11-08 15:11:50
My answer is either option 2 or 3 by 2009 (since the peak price and not from 2008) .......
Quote:
Originally posted by rahul_singh23
How much price change do we expect in a year (Nov 2009 vs Nov 2008) in your local city?
1. -10%
2. -20%
3. -30% and more
4. +5%
5. +10%
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My Ans: 2 at least.
This may be put on the CD poll. It will be interesting to see what CD's think.
GTA's avg. home prices in Oct 31, 2009 vs. Oct 31, 2008:
1. No change
2. down 5-10%
3. down 11-15%
4. down 16-20%
5. down 20 % or more
6. up 1-5%
7. up 6-10%
8. up more than 10%. Just kidding
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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/
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