commision from realtor
Jump to Page:
< Previous [ 1 ] [ 2 ] [ 3 ] [ 4 ] [ 5 ] [ 6 ] [ 7 ] [ 8 ] Next >
Posted on: 26-07-09 18:41:49
From contacting 10 -12 listings on mls and bytheowner I have this preliminary feeling that the seller Agent more often then not will try to become a dual Agent (your Agent as well if you are the buyer ) by default , if you do not have an Agent of your own ....... and try to convince you that you will benefit if you become his client ...... even for that property only and would offer you 1% cash back on commission .........
I had to stress that I wished to go un represented and w/o an Agent ....... upon saying so 2 of the sellers Agents refused to show properties telling me it was unethical ( I was wondering which way 
) ........ the rest showed and informed me that they would take me as a CUSTOMER and NOT a CLIENT if I wished to make an offer .......
The moral of the story is .... you will get what you want if you are clear & hard about it ....... Stress to the sellers Agent that you wish to come as a customer and not as a client so that he does not take you for granted and try to gobble the buyers agent's commission as well ... as I said earlier .
-----------------------------------------------------------------
Fido.
Quote:
Originally posted by Fido
The moral of the story is .... you will get what you want if you are clear & hard about it ....... Stress to the sellers Agent that you wish to come as a customer and not as a client so that he does not take you for granted and try to gobble the buyers agent's commission as well ... as I said earlier .
In that case, don’t forget to have agreement with sellers agent which talks about Multiple representation (if he is ready
). If you don’t do this Seller’s agent has listing agreement with seller which says the agent will do what is best for the seller of a property.Now if you ask what harm seller’s agent can do to buyer as buyer is doing home inspection and market research, I can’t answer it. But one’s loss is other’s gain in this game, you know what I mean.
If you got a good deal from the orignal price then forget about the 2000$ , you know you did not pay 10000 or 20000 more than the house price , but dont rush on the desision of buying the home.........., other wise a salesman can sell you something that is worthe 250000 for 300000 and give you 2000$ , thats not a good deal...............
And thats why I say , study the market for 2-3 months , look whats going in , whats going out and do not use / rely on a buyer's realtor .
Who knows , since the realtor is to be paid by the seller , he takes you for a spin ....since he is getting a cut from the seller anyways ........ so his loyalties are easy to change 
As Viggy pointed out in another post , even if you wish to have a realtor , better to have one on a fortnightly basis ( I d say with 1% cash back ) and renew agreement every time you are about to make an offer .... clarify everything beforehand and stress on the fact that he should not try to impress you with the offer price ...........let that be your sole discretion ...........
You know why realtors are offering 1% cbp by the way .... no guesses ....... its simple demand and supply ........... There s an over flow of realtors out there ....
-----------------------------------------------------------------
Fido.
Fido .. Nice post.
Personally, I think buyer should not sign any contract with Realtor.
There is 5500 realtor in Calgary which has 1 million population. There is one realtor per 60 families (181 people). Defiantly there is cut throat competition between realtors itself. A realtor has to take care his business expense along with paying fee or money to remax/real Estate Board/news spinner/sharing the commission. I heard 10% top realtor do 80% of the business.
Anyone can become realtor even who don't know how to calculate area of polygon or parallelogram room. It's very difficult to find good realtor because most of them are more interested in closing the deal. There should be some entrance criteria (GRE/GMAT along with four year bachelor degree) before getting admission to realtor classes.
Quote:
Originally posted by Fido
And thats why I say , study the market for 2-3 months , look whats going in , whats going out and do not use / rely on a buyer's realtor .
Who knows , since the realtor is to be paid by the seller , he takes you for a spin ....since he is getting a cut from the seller anyways ........ so his loyalties are easy to change
You know why realtors are offering 1% cbp by the way .... no guesses ....... its simple demand and supply ........... There s an over flow of realtors out there ....
What an irresponsible post.
You think a realtor is out to do some charity ?
And you think anyone can become a realtor ? And there is a series of exams one needs to clear to become one. So there is ' some entrance criteria '. Rahulbabu, one suggestion to you. Life mein kuch positve bhi socho. Do not think every one is out to get you. It is their profession and they are there to make money.
And the fact remains in spite of all your negative posts on the RE market, a property which is rightly priced goes away in a day even these days. Keep accumulating your dollars till the property prices fall to zero. Good luck!!!
Quote:
Originally posted by rahul_singh23
Fido .. Nice post.
Personally, I think buyer should not sign any contract with Realtor.
There is 5500 realtor in Calgary which has 1 million population. There is one realtor per 60 families (181 people). Defiantly there is cut throat competition between realtors itself. A realtor has to take care his business expense along with paying fee or money to remax/real Estate Board/news spinner/sharing the commission. I heard 10% top realtor do 80% of the business.
Anyone can become realtor even who don't know how to calculate area of polygon or parallelogram room. It's very difficult to find good realtor because most of them are more interested in closing the deal. There should be some entrance criteria (GRE/GMAT along with four year bachelor degree) before getting admission to realtor classes.
Quote:
Originally posted by Fido
And thats why I say , study the market for 2-3 months , look whats going in , whats going out and do not use / rely on a buyer's realtor .
Who knows , since the realtor is to be paid by the seller , he takes you for a spin ....since he is getting a cut from the seller anyways ........ so his loyalties are easy to change
You know why realtors are offering 1% cbp by the way .... no guesses ....... its simple demand and supply ........... There s an over flow of realtors out there ....
Thanks Iceberg.
I am positive that a lot of people are turning into saving mode and keeping credit card away. Lot of people is focus on paying debt. Churches are helping people and telling “There is only one relation between debt holder and bank that is master/slave”. People start making difference between need and want. I am positive that healthcare bill will pass within this year in US which will create affordable healthcare along with lot of jobs (e-health record) and may keep family out of bankcorrupcy. I am positive that overpriced RE will be going to correct itself when interest rate going hit hard.
I am agree that it's always a right time to buy if:
1. Buyer should make 20%+ down payment
2. Living cost (mortgage, taxes, fee, maintenance) should not be more than 35%-40% of family income
3. Buyer should be able to afford (40% range family income) when interest rate will going to hit 8%-9%
4. Mortgage should not be more than 20 yrs
5. Better to get out of mortgage before retire (around age 55)
6. Family should keep 6 months surviving funds if no-one is making any money
7. Family should keep investing in RRSP, RESP and regular saving
8. Buyer should not add tenant while doing mortgage calculation
I think a lot of buyer may not like these conservative thought because our media/RE boards/govt. want to run consumer base economy at any cost. The cost is high debt which people (country??) can not afford and a lot of them are ready to sign any debt paper. Govt. and banks are keeping interest rate low so people can put themselves in cheaper debt.
A lot of first time buyers are living paycheck to paycheck with such a cheap debt. What will be going to happen when this cheap debt will become expensive?
-------------------------------------------------------------------------------------------------
http://www.greaterfool.ca/
There is no excuse for buying a house at the top of the price cycle in the middle of a recession. Were it not for dirt-cheap interest rates, prices would be melting instead of spiking. Today’s rates will not last. Taxes are going to be higher for years to come and the inevitability of a real estate correction is absolute.
Here’s a little reality for you. Real estate Windsor, Ontario style.
Two houses.
Central location, schools, transit, parks, shopping.
http://www.realtor.ca/propertyDetails.aspx?propertyId=8524127
http://www.realtor.ca/propertyDetails.aspx?propertyId=8240292
First asking $60,000 second $120,000
Welcome to the future…now.
Quote:
Originally posted by Iceberg
And you think anyone can become a realtor ? And there is a series of exams one needs to clear to become one. So there is ' some entrance criteria '. Rahulbabu, one suggestion to you. Life mein kuch positve bhi socho. Do not think every one is out to get you. It is their profession and they are there to make money.
And the fact remains in spite of all your negative posts on the RE market, a property which is rightly priced goes away in a day even these days. Keep accumulating your dollars till the property prices fall to zero. Good luck!!!
Quote:
Originally posted by rahul_singh23
