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01-02-2024, 08:00 PM | #61 |
Beyond the Rapids
Join Date: May 2003
Location: Langley, VA
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Posts: 80,659
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01-02-2024, 08:01 PM | #62 | |
Has a particular set of skills
Join Date: Dec 2003
Location: On the water
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Posts: 79,254
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01-02-2024, 08:08 PM | #63 |
Three-Pat
Join Date: May 2011
Location: Colorado Springs
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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.
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Posts: 17,182
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01-02-2024, 08:17 PM | #64 | |
Veteran
Join Date: May 2010
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Quote:
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. |
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Posts: 1,277
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01-02-2024, 08:24 PM | #65 | |
Three-Pat
Join Date: May 2011
Location: Colorado Springs
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Quote:
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. |
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Posts: 17,182
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01-02-2024, 08:28 PM | #66 | |
Veteran
Join Date: May 2010
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Quote:
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. |
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Posts: 1,277
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01-02-2024, 08:33 PM | #67 | |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
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Quote:
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. |
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Posts: 51,978
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01-02-2024, 08:45 PM | #68 | |
Veteran
Join Date: May 2010
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Quote:
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. |
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Posts: 1,277
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01-02-2024, 09:00 PM | #69 |
MVP
Join Date: Mar 2021
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Will I get my title before the temp tags expire
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Posts: 8,219
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01-02-2024, 09:37 PM | #70 |
MVP
Join Date: Mar 2019
Location: KC
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Posts: 7,256
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01-02-2024, 09:42 PM | #71 | |
MVP
Join Date: Mar 2019
Location: KC
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Posts: 7,256
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01-02-2024, 09:45 PM | #72 |
Hey Loochy, I'm hooome!
Join Date: Oct 2008
Location: PooPooKaKaPeePeeShire
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Posts: 40,615
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01-02-2024, 09:58 PM | #73 |
MVP
Join Date: Jan 2007
Location: Missouri
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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. |
Posts: 8,304
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01-02-2024, 10:37 PM | #74 |
MVP
Join Date: Dec 2018
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Posts: 7,367
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01-03-2024, 06:03 AM | #75 |
Supporter
Join Date: Dec 2004
Location: Ozarks
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Posts: 33,534
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