^It would be interesting to see more listings like:
Price with buyers realtor: $849,900
Price with no buyers realtor: $839,900
Posted 07 December 2018 - 09:05 AM
^It would be interesting to see more listings like:
Price with buyers realtor: $849,900
Price with no buyers realtor: $839,900
Posted 07 December 2018 - 10:30 AM
That wouldn't fly. There's absolutely no incentive for a buyer to not use a REALTOR unless the price is significantly lower, but if it's significantly lower a buyer with a REALTOR won't care to offer anything above the no-REALTOR price.
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Posted 07 December 2018 - 10:52 AM
you wouldn't do that to save 10k? Why not, I would, my real estate lawyer would still review everything. I bought without a realtor and it was a great experience and it got me the house over the other offers. I would definitely do it again
I've been to some stores in the US and there is a cash price and a credit card price.
Posted 07 December 2018 - 11:01 AM
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Posted 07 December 2018 - 03:20 PM
I think the only way it would work is if the seller also does not have a realtor, right?
Posted 07 December 2018 - 03:34 PM
Just to save 1.2%? No a chance. I'll take my agent and buy from the next guy.
Drop the price by 10% compared to similarly-assessed homes and you might win me over, but there's no benefit to me as the buyer to move forward without representation unless the price is significantly reduced.
If you're confident in your knowledge of the market, a lawyer will gladly be your representation, for a fixed rate much MUCH lower than a realtor commission.
I'm convinced Realtors will go the way of high-MER Financial Salesmen ahem--Advisors-- once the baby boomers die off. They are industries built on peoples' ignorance.
Posted 07 December 2018 - 08:11 PM
Posted 07 December 2018 - 08:29 PM
^Exactly! well said
Posted 07 December 2018 - 08:33 PM
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
Posted 07 December 2018 - 08:34 PM
Posted 07 December 2018 - 08:35 PM
Posted 07 December 2018 - 08:50 PM
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
Posted 07 December 2018 - 09:01 PM
(2) ((my point was: if they can't sell themselves, selling your listing (competitively) appears pretty much doomed unless your asking price is rock bottom, and there seems also likely a modest or more than modest stigma out there with a cooperating realtor giving a discounter the time of day, unless their buyer is being pushy))
(3) There are areas (eg. Toronto) where the agents have allowed cheap MLS listings ($99 is what I've seen at times, $499 is commonly shown now on google, = https://oneflatfee.ca/package-1 ) -- now THAT'S the sort of non-refundable commission fee I'd like to see for Victoria (& I'll do my own dealing with inquirers thank you very much, while skipping the whole $9,500+ "discount" rate). And sure, if a realtor shows up with a buyer, I don't mind paying them a customary 3%/1.5% (though, I'd somewhat rather the Buyer pay their agent directly).
2) Sorry, but just makes zero logical or common sense. I just can't believe how the average person can't look at the facts and draw some reasonable logical conclusions......so many basic facts like listing agent cannot offer dual agency anymore, 98% of listings are on lockbox and are shown by the buyer's agent (listing agent is not there to show or sell), etc.
I've represented some 300 buyers in my career and I honestly can't think of a situation where the listing agent sold my clients on the property.
3) There a few local REALTOR® including myself that have been offering mere postings since 2010 -> http://markojuras.com/flat-fee/
Edited by MarkoJ, 07 December 2018 - 09:24 PM.
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
Posted 07 December 2018 - 09:02 PM
Posted 07 December 2018 - 09:05 PM
^It would be interesting to see more listings like:
Price with buyers realtor: $849,900
Price with no buyers realtor: $839,900
If I was a developer I would be the most hated developer in Victoria
I would set the condo price at $500,000, for example, and I would throw it up one MLS® with a $1 cooperating fee and then when buyers show up at the sales centre I would have two lines for pricing. Without REALTOR® representation $491,000 ($9,000 cooperating fee savings) and with REALTOR® representation $500,000. You as the buyer decide if you want representation for $9,000
That is how I came up with this model back in 2011 -> http://markojuras.co...ondo-cash-back/
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
Posted 07 December 2018 - 09:15 PM
I'm convinced Realtors will go the way of high-MER Financial Salesmen ahem--Advisors-- once the baby boomers die off. They are industries built on peoples' ignorance.
So when I started my real estate career in the summer of 2010 I was 110% convinced as well. At this point I am about 0% convinced.
I thought I would own a brokerage by now focusing on mere postings which I falsely assumed would make up 10% market share by 2015....instead we barely cracked 1% and have decreased the last few years to below 1% again.
I thought my clever pre-sale cash back program would lead to hundreds of pre-sale buyers phoning me, etc. Who wouldn't want to save 5-10k buy literally doing nothing?
Don't get me wrong, I've done well personally as an individual REALTOR® but there seems to be little to no appetite for more reasonable priced services and I don't think it is a baby boomer thing. I can't really put my finger on it. I think it is different than the travel industry, uber, Airbnb, etc.
I always drive by the Costco gas station and I don't understand how people line up for 15 minutes to save a few dollars but they can't use reasonable logic and 30 minutes of research to save 10k on real estate transaction fees?
The market in the US got completed opened up and everyone is still using full pop REALTORS®.
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
Posted 07 December 2018 - 09:34 PM
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
Posted 07 December 2018 - 09:43 PM
Posted 07 December 2018 - 09:46 PM
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
Posted 07 December 2018 - 09:47 PM
Edited by SamCB, 07 December 2018 - 09:48 PM.
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