DISQUS

Consumerism Commentary: Commissions Still High

  • jim · 4 years ago
    As an aside, check out Brown Co., the commissions on a market order is only $5.
  • Matt · 4 years ago
    I have several friends who have recently become real estate agents. How can I tell them that I think their entire industry is a sham? There is a value to the service they provide, but it's not completely necessary. Like MM, it feels like with enough research I could do well enough on my own, or at least well enough to not warrant the use of a broker. It would be like hiring a financial advisor for a single transaction.
  • Guest · 4 years ago
    I don't recall the name of the movie (maybe Robocop) but there is a scene where
    someone walks into a home for sale - instantly televisions turn on and a guy comes
    on to tell you the "features" of the home and how great it is. It occurred to me
    that with modern telecommunications, that person could easily sit in India and give
    you the speech.

    The paperwork could be emailed offsite to India as well. We're only a decade away
    from reality.

    Oh yeah, you'd need a rent-a-cop to make sure no one breaks or steals anything....
  • JYK · 4 years ago
    DOWN TO 2%??? Are you kidding me??? 2% on an $800,000 home in the Bay Area comes out to $16,000 commission.....all this for what??? Seriously, somebody please enlighten me as to what these Agents do to earn "my" $16,000. I will start and if any of you "agents" out there have anything to add, please.....let me know:
    1. MLS listing? Can do this for $500 on my own
    2. Color brochures? Kinkos for less than $50
    3. Open house? Can do this myself and I also know the house, neighborhood and local schools alot better than the agent who lives miles away. I can tell you what it's like at night, day, during the weekends, how the traffic is leaving in the morning and coming back at night. I can tell which neighbors are nice and friendly......practical things that are important unlike the generic answers you get from the agents.
    4. Market on Craigslist? Can do this myself
    5. Market in newspapers?
    6. Let everybody else know about my home.....See #1 above
    7. Help with escrow/title process? Hire an attorney for a ton cheaper.....also, the attorney can answer legal questions for you whereas the agent can not.
    Seriously, somebody please enlighten me!