Show of HandsShow of Hands

Show Of Hands January 17th, 2012 12:00am

Residential realtors: valuable service providers, or outdated and unnecessary?

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ohai
01/30/12 8:54 pm

Sometimes it's just so much easier to have someone else help you with something. It's the reason a lot of people don't do their own taxes.

alyson Indiana
01/29/12 4:22 pm

I understand the whole commission thing but I have yet to meet a realtor who is completely honest about a house. I'm especially tired of all the buzzwords they use, thinking they're clever or something. "Cozy" my ass.


01/29/12 4:01 am

at 215k... at 6%= 13k. maybe worth it. but in when the average house is 3x that much, the agent doesnt do 3x the work...not worth it


01/24/12 2:42 pm

Agree with damageinc. Definitely not worth 6% anymore.


01/23/12 8:01 pm

@jmlyl4 also remember the more money you have the more likely you will just hire someone to do it for you.

jmlyl4 South Carolina
01/22/12 8:08 am

FSBOs accounted for 10% of home sales in 2011. The typical FSBO home sold for $150,000 compared to $215,000 for agent-assisted home sales. worth it? Yes.

Lovatic Indiana
01/20/12 10:26 pm

Actually, I want to work in real estate when I grow up. Valuable.

QConserv California
01/20/12 9:12 am

Honestly it probably depends on where you live... They're definitely necessary in CA because we have ridiculous amounts of red tape regarding property here.

adalla Virginia
01/20/12 5:30 am

Still necessary for most people, but the absurdly high fees need to come down. I think few realtors earn ALL of their fee...

NoblEst
01/20/12 1:21 am

I'd like to see the average buyer or seller navigate their way through a transactions. You have to handle multiple facets of the transaction from escrow and title, to inspections, state regulations, mortgage companies, real estate laws, etc. Realtors are in no way 'out dated' or unworthy.

nyguy
01/19/12 8:54 pm

Some realtors are useless but so ate some car salesmen.


01/19/12 8:26 pm

If you don't have the time, interest, or sales ability to invest in selling your house for close to what it's worth then a realtor offers a valuable service. If you do have the time, interest, and sales ability to sell it yourself, then you don't need a realtor.


01/19/12 6:54 am

@hazhap- a buyer doesn't pay the realtor. Their commission comes out of the sellers proceeds. And 6% is customary, 3% to each buyers and sellers agent.


01/19/12 6:52 am

They 'can' help, but most don't. I'm military and in each of my last 2 moves I did all of the work to watch them skim their cut off for doing virtually nothing. System needs another option, like of I represent myself I get the 3% to use towards closing costs.

hazhap1 Las Vegas
01/19/12 12:50 am

You really don't think you could buy a house from someone with a middle man to take 5-10% of your money for printing out a few forms?


01/18/12 11:46 pm

If you are just making a move within your own town maybe the Internet is enough. But new town, figuring out good v bad, school districts, they can really help you out.


01/18/12 9:42 pm

It would be hell without then to guide you. Plus they work really hard


01/18/12 8:21 pm

some are blood sucking leeches, some are professionals who really want to facilitate home buying/selling.

smallbiz44
01/18/12 7:30 pm

@leftocenter, and just how much do you think you'l be paying a lawyer? one that specializes or is intimately familiar with all of the nuances of real estate?

widdy76 always here
01/18/12 5:33 pm

Had a situation when I was young where our realtor never showed our house once in 6 mo. They fired them and My parents sold it in 3 weeks. But we just bought our first home and had THE BEST realtor. I wouldn't do it without one. Gotta shop around and find one you like!


01/18/12 1:32 pm

realtors don't get the full 6% that is split between four or five people... the sell g agent the listing agent and whoever they have working for em.

RogueMom In a Hand Basket
01/18/12 1:10 pm

It is like any other industry. There are good, hard working decent realtors and then there are crap realtors. Sadly you can't fire your realtor if you have selected a house. Even in the next 3 months of trying to get through the banks and buy it they go AWOL and you end up battling iit alone.

RogueMom In a Hand Basket
01/18/12 1:08 pm

You have to know the realtors that do this between Bingo night and Women's Tea every week. The ones that don't check their in boxes to get their faxes and then tell their clients "they just didn't send the paper work."

RogueMom In a Hand Basket
01/18/12 1:07 pm

@2Bits: If you are a realtor then you know that there are Realtors and there are Realtor-Hobbiest. In my old office there were 6 out of 40 who worked hard for their clients. The rest were worthless.


01/18/12 11:17 am

I'm sorry but all the realtor in my home buying process did was lobby for the housing company. She hurt more than she helped and cost me more money.

elbow82 Veganland
01/18/12 7:16 am

The Internet will probably take over eventually, as it has for travel agents, but for now they're still useful to most people.

leftocentr Oregon
01/18/12 6:58 am

If you like paying 6-8% commission, or if u need to sell really quickly, I guess they are necessary. Otherwise, it is a scam. You just need a lawyer to draw up the papers.


01/18/12 5:41 am

I agree about how the Internet is taking over. You don't need a realtor anymore now you can find any house online back in the day when there wasnt an assessable way of finding houses forsale. Banks can post them right on Craigslist and there is no need for a middle man

FIAT2LUX On Planet Earth
01/18/12 5:30 am

I chose valuable, however, it will be a longing time before I need the services of one.

FIAT LUX!


01/18/12 3:23 am

realtors are no worse than anyone else who works in a sales/marketing occupation...a lot of them have one goal ---> $ (that's it)...However you will find some who are beneficial, honest and work hard to meet your needs. With that, because of the few good ones, they ARE of value

blutuesday California
01/18/12 1:52 am

A good realtor is valuable. But a good one is hard to find!

moonshot More often I know nothing
01/18/12 12:45 am

The Internet will finally kill off the monopoly that is the MLS. being forced to pay a realtor such an exorbitant fee to buy a home is just plain wrong. yes, the buyer pays the fee. Don't let them fool you! With lower selling costs, prices would come down.


01/18/12 12:24 am

Real estate agents are good for first time homebuyers or people that don't want to negotiate directly.

Happy Hong Kong
01/18/12 12:02 am

Redfin.com does everything an agent can do for you, but for 1/2 the price.


01/17/12 11:50 pm

Thank God we found our realtor-she steered us away from a terrible school system and acted, in many ways, like an ambassador for her community. She was worth every penny.


01/17/12 11:21 pm

Mostly valuable for home buying' virgins

TARDIS
01/17/12 10:30 pm

Why pay for someone to help you when you can do it for free yourself online? Hmm...


01/17/12 10:17 pm

Not worth the commission. sell online. just hire a lawyer for a couple hours to make sure paperwork is in proper order.

Happy2 California
01/17/12 10:07 pm

Used house salesmen are not worth the 6%.

I remember the commercial from the NAR: "it's always a good time to buy or sell a home". Makes me laugh every time :-)

jasonreed
01/17/12 9:38 pm

If you're going to make the biggest purchase of your life without a professional guiding you, you're a fool.

lisalashe
01/17/12 9:37 pm

Closed my property w/o a realtor. Would do it again. I didn't find the process tedious at all. Everything you need can be found online for free. Even thought about becoming a realtor for a short period after the closing. May still do it

smallbiz44
01/17/12 9:23 pm

My favorite realtor has been working for a month on a $40k house for her clients, her hourly rate once it closes would probably work out to about $4/5 an hour. And she put as much effort into that one as she does on a $750k house, probably more.

smallbiz44
01/17/12 9:18 pm

If you buy a house without a realtor you are just plain stupid. A (good) realtor works their butt off researching all of the hidden stuff that you don't even know about, mold, lead paint, easements, etc. etc. and all for a measly 3% commission (commission is split 50/50 with their brokers).

Jzz California
01/17/12 9:10 pm

thinking of moving tony? like all service industries, when you find the right realtor it is well worth the commission


01/17/12 9:07 pm

I'm a Realtor, I sold nearly 90 transactions in 2011, and I can assure you not one seller or buyer would say that my services where not needed.


01/17/12 9:06 pm

Realtors don't just drive around looking at houses. Real Estate contracts are some of the most complex and difficult contracts to negotiate. Lenders won't lend to you without one, and banks who own the houses won't sell one to you without one either.