Toyota to start selling direct to customers

[Stewie]

Good news for consumers. Tesla changed the game by refusing to have a dealer network.

The dealership network is antiquated and has pissed off OEMs by screwing customers with dealer mark-ups of $10k+ on certain vehicles.

This is going to be a slow process, but a move in the right direction.

Test drives and maintenance will be done like Tesla's model.

I say it's about damn time to get rid of the leaches.

What say you?

[Eleazar]

Originally Posted by KCUnited

Hopefully BMW follows so I can get a $68k coupe for $43k

#picturemerollin’

They're just going to charge you slightly less and pocket the rest.

[BigRedChief]

Originally Posted by Dallas Chief

Spend the $1k or so on getting your RE license then you won’t ever have to worry about it. Good luck with marketing, showing scheduling, photos, open houses, videos, drone footage, contractual negotiations all while trying not to get ****ed by the title drama. Not being a dick, but folks don’t realize all of the moving parts in a transaction of this $$$.

I never said anything about their work habits. Nor did I say they didn’t have expenses associated with selling the house.

[tredadda]

Originally Posted by Nirvana58

6% comes from the seller. Not the buyer.

If you don't want to pay 6% then sale the house yourself. No one forces you to use a real estate agent.

I think there was a recent court ruling in favor of sellers as having them pay 3% to the buyer's agent was a violation of federal anti-trust laws. The National Association of Realtors is supposed to appeal it, but this could potentially keep sellers from forking over 6% and instead pay only their realtor the 3% commission.

[Nirvana58]

Originally Posted by tredadda

I think there was a recent court ruling in favor of sellers as having them pay 3% to the buyer's agent was a violation of federal anti-trust laws. The National Association of Realtors is supposed to appeal it, but this could potentially keep sellers from forking over 6% and instead pay only their realtor the 3% commission.

There was a court ordered settlement I believe. But it will get appealed and overturned.

I use to buy and sale houses for a business. I even thought about getting my real estate license to save cost. But my realtor was worth way more than their 6%. If you don't think you are getting your money's worth for that 6% than you need a better realtor.

[tredadda]

Originally Posted by Nirvana58

There was a court ordered settlement I believe. But it will get appealed and overturned.

I use to buy and sale houses for a business. I even thought about getting my real estate license to save cost. But my realtor was worth way more than their 6%. If you don't think you are getting your money's worth for that 6% than you need a better realtor.

But it's only 3% to your agent. The other 3% goes to the buyers agent and I think that was the issue behind it. I agree that they are worth their commission (most times), and most people are better off with one than without. I am interested to see the justification for why the seller should pay the buyer's agent if it is indeed overturned.

Can a seller have an agent and stipulate that they are not to work with or sell to a buyer with an agent? Seems potentially exclusionary and if so then the seller has to agree to pay the extra 3% even though the buyer's agent does nothing for them.

[Nirvana58]

Originally Posted by tredadda

But it's only 3% to your agent. The other 3% goes to the buyers agent and I think that was the issue behind it. I agree that they are worth their commission (most times), and most people are better off with one than without. I am interested to see the justification for why the seller should pay the buyer's agent if it is indeed overturned.

Can a seller have an agent and stipulate that they are not to work with or sell to a buyer with an agent? Seems potentially exclusionary and if so then the seller has to agree to pay the extra 3% even though the buyer's agent does nothing for them.

If the buyer doesn't have an agent. Then the sellers agent can work for both parties and will get the full 6%.

Basically the selling agent would need to act as a neutral party and help the buyer and seller equally. Protecting both parties interest.

Or they can refer the buyer to another agent in their brokerage.

[DaFace]

Originally Posted by Nirvana58

There was a court ordered settlement I believe. But it will get appealed and overturned.



I use to buy and sale houses for a business. I even thought about getting my real estate license to save cost. But my realtor was worth way more than their 6%. If you don't think you are getting your money's worth for that 6% than you need a better realtor.

Sometimes? Sure. The percent based fees get ridiculous sometimes, though. The median sale price here is about $500k, so a typical sale nets each realtor $15k. If it's complicated or they help you sort through dozens of options, sure, maybe that's worth it, but if not, it seems like an awful lot.

Friends of mine recently found a place on Zillow they liked, called up their realtor, and closed the sale less than a month later. They paid about $700k, so their realtor made about $21k to set up a single showing and do some paperwork. That's pretty tough to justify.

[Nirvana58]

Originally Posted by DaFace

Sometimes? Sure. The percent based fees get ridiculous sometimes, though. The median sale price here is about $500k, so a typical sale nets each realtor $15k. If it's complicated or they help you sort through dozens of options, sure, maybe that's worth it, but if not, it seems like an awful lot.

Friends of mine recently found a place on Zillow they liked, called up their realtor, and closed the sale less than a month later. They paid about $700k, so their realtor made about $21k to set up a single showing and do some paperwork. That's pretty tough to justify.

Your friend didn't pay that realtor. The person selling the house did.

They want all buyers to have an agent to protect the buyer and seller.

What happens when that 700k purchase is completed on a house with hidden mold, foundation crumbling, termite damage everywhere, flooding issues?

People are more than welcome to sale their own houses without an agent. Especially with the internet and websites like Zillow. But if I am going into negotiations for a 700k contract. I want a professional next to me.

[Rainbarrel]

Will I get my title before the temp tags expire

[neech]

Originally Posted by Pinchshot

I've bought and sold 60 cars since I was 15. The only time I've gone to a dealer is to trade in a car on its last legs. What happens to the trade ins?

That's the main question for me.

[neech]

Originally Posted by Nirvana58

Your friend didn't pay that realtor. The person selling the house did.

They want all buyers to have an agent to protect the buyer and seller.

What happens when that 700k purchase is completed on a house with hidden mold, foundation crumbling, termite damage everywhere, flooding issues?

People are more than welcome to sale their own houses without an agent. Especially with the internet and websites like Zillow. But if I am going into negotiations for a 700k contract. I want a professional next to me.

Sell the home "As is" so the seller is off the hook completely is my advice

[loochy]

Originally Posted by lewdog

If I lived in Texas, I'd either be a steer or a queer!

It's more fun to be a queer, believe me.

Come see me and we can queer it up

[ghak99]

Car salesman rank right up there with ambulance chasers. Realestate agents are catching up fast though.

Customers are going to pay either way though. The worst part is a shop can not operate at current rates without a sales department. Those of you who roll new vehicles might not care, but those who roll with used vehicles will carry this load. I'd expect a lot more "right to repair" issues coming with it as well. Machinery owners already know what this is like. It's not a fun road to go down.

10 year old vehicles are bringing insane prices as it is. It will be interesting to see how may vehicles have support dropped as soon as the laws allow. After market can't pick up the slack for the never ending list of unsupported vehicles. The affects this could have on trade ins will be interesting.

[jerryaldini]

Originally Posted by Pinchshot

So what are these guys gonna do? Real estate and mortgage broker agents aren't earning in this economy.

[HemiEd]

Originally Posted by Pinchshot

We need Burt to chime in on this. Is he still around?

Aug 23 join date? Who were you prior to this?