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Realtor Commissions | Your approach


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#41 MarkoJ

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Posted 19 February 2015 - 05:17 PM

Right, but I'm thinking if you built an automated system where people could subscribe and pull data themselves through your account the CREA would crack down on that.

 

Don't think that would fly for long.  


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#42 VicHockeyFan

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Posted 08 April 2017 - 04:02 PM

Marko, with the market where it is now, are you seeing more, or less FSBO's or the limited listings (where you put it on MLS but offer little more service).


<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#43 MarkoJ

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Posted 09 April 2017 - 10:02 AM

Marko, with the market where it is now, are you seeing more, or less FSBO's or the limited listings (where you put it on MLS but offer little more service).

 

Less FSBO's....I think the consumer is sold on paying an agent as it will generate a bidding war when in reality the market itself generates the bidding war.


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2018 | Fair Realty

www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#44 VicHockeyFan

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Posted 09 April 2017 - 10:12 AM

Less FSBO's....I think the consumer is sold on paying an agent as it will generate a bidding war when in reality the market itself generates the bidding war.

 

Right.  That's what I was thinking.  It should not be any different, as a percentage, but it is.


<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#45 LeoVictoria

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Posted 09 April 2017 - 03:46 PM

Less FSBO's....I think the consumer is sold on paying an agent as it will generate a bidding war when in reality the market itself generates the bidding war.

 

What about mere postings?  More or less for you than in a slow market like 2012/13?



#46 MarkoJ

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Posted 09 April 2017 - 06:12 PM

What about mere postings?  More or less for you than in a slow market like 2012/13?

 

Less mere posting. The consumer has forgotten about mere postings as there are not in the media anymore.  People use to google "mere posting," after seeing it on the news.  Not anymore. Either you know about it or you don't.


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2018 | Fair Realty

www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#47 LeoVictoria

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Posted 09 April 2017 - 08:39 PM

Less mere posting. The consumer has forgotten about mere postings as there are not in the media anymore.  People use to google "mere posting," after seeing it on the news.  Not anymore. Either you know about it or you don't.

 

Funny.   I also find it fascinating that in the US, despite the existence of Zillow where you can find all the complete sales history of any house as well as sophisticated market data, the percentage of people selling with a realtor is the same as it ever was, and comissions are the same at about 5% of sale price (and higher than they are here).   

 

Despite all the predictions of real estate being low hanging fruit for automation, it hasn't happened.   Wonder when or if it ever will to any extent.  



#48 MarkoJ

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Posted 09 April 2017 - 09:49 PM

Funny.   I also find it fascinating that in the US, despite the existence of Zillow where you can find all the complete sales history of any house as well as sophisticated market data, the percentage of people selling with a realtor is the same as it ever was, and comissions are the same at about 5% of sale price (and higher than they are here).   

 

Despite all the predictions of real estate being low hanging fruit for automation, it hasn't happened.   Wonder when or if it ever will to any extent.  

 

80% of my time is spent counselling people....like literally talking about nothing.  As long as people see the value in the counselling, aka BS, "full service," he here to stay for a while longer.


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Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2018 | Fair Realty

www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#49 LeoVictoria

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Posted 10 April 2017 - 06:27 AM

80% of my time is spent counselling people....like literally talking about nothing. As long as people see the value in the counselling, aka BS, "full service," he here to stay for a while longer.


Same as the value of a financial advisor. You don't need one to manage your investments, you need one to talk you off the edge when the next great market crash happens and you want to cash it all in for gold bars.
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#50 DavidL

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Posted 12 April 2017 - 09:56 AM

Funny.   I also find it fascinating that in the US, despite the existence of Zillow where you can find all the complete sales history of any house as well as sophisticated market data, the percentage of people selling with a realtor is the same as it ever was, and comissions are the same at about 5% of sale price (and higher than they are here).   

 

Despite all the predictions of real estate being low hanging fruit for automation, it hasn't happened.   Wonder when or if it ever will to any extent.  

 

The typical buyer or seller is not driven by spreadsheet data.  It's a big ticket item that typically requires some thought and reflection as well as counselling.  There is value in that.  Granted most people spend more time deciding on which piece of fruit to buy than they do in choosing their agent, but typically speaking it's important to have someone that doesn't just provide data, but rather can interpret it for you.  I can dump truck all the data you could possibly want on someone but the typical real estate market participant engages in the market so rarely they wouldn't know what to do with it, or worse they think they do and proceed to make poor decisions.  We all focus on the economic aspect of buying and selling property, when in fact the economic component, while obviously important, is not the only, and in some cases not even the most important, factor in a buying or selling decision.



#51 VicHockeyFan

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Posted 12 April 2017 - 10:09 AM

I still don't know why you guys just don't list every house for $100.

 

 

http://www.realtor.c...for-1-listings/


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<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#52 MarkoJ

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Posted 12 April 2017 - 10:58 PM

The typical buyer or seller is not driven by spreadsheet data.  It's a big ticket item that typically requires some thought and reflection as well as counselling.  There is value in that.  Granted most people spend more time deciding on which piece of fruit to buy than they do in choosing their agent, but typically speaking it's important to have someone that doesn't just provide data, but rather can interpret it for you.  I can dump truck all the data you could possibly want on someone but the typical real estate market participant engages in the market so rarely they wouldn't know what to do with it, or worse they think they do and proceed to make poor decisions.  We all focus on the economic aspect of buying and selling property, when in fact the economic component, while obviously important, is not the only, and in some cases not even the most important, factor in a buying or selling decision.

 

I feel like my counselling is complete BS, but my clients seem to actually think they are getting something out of it.  What am I missing?


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Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2018 | Fair Realty

www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#53 Rob Randall

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Posted 13 April 2017 - 06:49 AM

Maybe ten years ago the advice was valuable: what neighbourhoods are up and coming, when to lowball, timing a good counteroffer, negotiating conditions et cetera...but in today's frenzied market who needs counselling?

"[Randall's] aesthetic poll was more accurate than his political acumen"

-Tom Hawthorne, Toronto Globe and Mail


#54 thaicobb

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Posted 13 April 2017 - 07:08 AM

Always good to have the input from someone closer to the action.  When it might be okay to go all in on a bidding war, when its more prudent to just walk away.  Insight and perspective are valuable commodities and generally worth the cost.



#55 VicBooster

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Posted 13 April 2017 - 07:13 AM

Let us be honest for a moment. The majority of realtors fail as realtors. The turnover rate is astonishingly high and those that do stick around can be split between professionals worth listening to and realtors who are lucky to have a job. Finding the former is like finding a needle in a haystack.


Edited by VicBooster, 13 April 2017 - 07:18 AM.


#56 thaicobb

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Posted 13 April 2017 - 08:26 AM

Its not necessary to follow the recommendations of any particular agent and even the incompetent might give (unintentional) clues to market sentiment/emotion.  The percentage of incompetents does seem to increase dramatically near market peaks however.  The agents who survive the crashes are likely worth paying more attention to. A few, like Marco to name one, provide real service with the opinions they publish on this and other sites.



#57 dasmo

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Posted 13 April 2017 - 08:42 AM

Maybe ten years ago the advice was valuable: what neighbourhoods are up and coming, when to lowball, timing a good counteroffer, negotiating conditions et cetera...but in today's frenzied market who needs counselling?

You mean coaxing, not counselling.... 



#58 PraiseKek

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Posted 13 April 2017 - 12:15 PM

I feel like my counselling is complete BS, but my clients seem to actually think they are getting something out of it.  What am I missing?

Any examples of the kinds of BS counselling? Just curious! Thanks



#59 Daveyboy

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Posted 13 April 2017 - 03:16 PM

I feel like my counselling is complete BS, but my clients seem to actually think they are getting something out of it.  What am I missing?

We got to buy a property and you made some money!  Luckily we didn't take your BS seriously....


Edited by Daveyboy, 13 April 2017 - 03:16 PM.


#60 LeoVictoria

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Posted 13 April 2017 - 06:10 PM

The typical buyer or seller is not driven by spreadsheet data.  It's a big ticket item that typically requires some thought and reflection as well as counselling.  There is value in that.  Granted most people spend more time deciding on which piece of fruit to buy than they do in choosing their agent, but typically speaking it's important to have someone that doesn't just provide data, but rather can interpret it for you.  I can dump truck all the data you could possibly want on someone but the typical real estate market participant engages in the market so rarely they wouldn't know what to do with it, or worse they think they do and proceed to make poor decisions.  We all focus on the economic aspect of buying and selling property, when in fact the economic component, while obviously important, is not the only, and in some cases not even the most important, factor in a buying or selling decision.

 

Data can also be interpreted in an automated fashion.   The advantage of that it is more objective, the disadvantage is there are limits to how specifically it can analyze any given situation



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