Consumerism Commentary - Latest Comments in Commissions Still High

Re: Commissions Still High

JYK — Wed, 16 Nov 2005 23:22:49 -0000

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!

Re: Commissions Still High

Guest — Thu, 10 Nov 2005 18:48:45 -0000

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....

Re: Commissions Still High

Matt — Thu, 27 Oct 2005 02:01:43 -0000

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.

Re: Commissions Still High

jim — Thu, 27 Oct 2005 01:10:34 -0000

As an aside, check out Brown Co., the commissions on a market order is only $5.