All Forum Posts by: Greg K.

Feedback deeply appreciated!

@Mike Cumbie  The trophy! , now that won me over.  It's time we got some serious hackers into this business!

Hey, I can only take you at your word in regards to unbiased and arms length choosing of Title companies, attorney's, etc.

But Adam Smith, an absolute genius IMO, kind of nailed it on the head with these words:

"Men of the same profession gather only to conspire against the general public"

Getting involved in the RE business has taught me to think in a much more elastic way than before.

No one can deny, it's a high stakes game.

And because this is a BP thread, sorry I will say it:  I learned the hardest meanest lessons via trial by fire.  And the most valuable of all these lessons:

Keep things light hearted.   People speak truth through lies, and lies through truth.  It takes a certain type of intelligence to learn to do this.  Something a college professor probably wouldn't grasp.

I recently used a flat free broker to list.  Simply because MY contact info was put on the listing, not his.  That's the deal breaker(winner) for me.  Paying waaaay less was just a convenient bonus.

I won't be endorsing any companies here, but this 'brokerage', made up of one broker, a few programmers, and an MLS admin, with 1000's of sold listings, in 7 neighboring states, it's a sign that things are changing.

I'm sure respect is mutual around the table here.  I absolutely respect everyone's feedback and experience.

@Chris Mason I live and breath by those words.  And yes, I did get the vibe that this site was angry and preachy.

@Mark Fries Noted! Your comment, in my eyes however, was not a waste of a few taps of the keyboard.  You make a valid point, and I'm sure you see that I'm not some whistle blowing hater.  I'm trying to be forward thinking and find a solution C.

@PJ M. Lol.  I sometimes slip into sales-pitch mode without realizing it.  I wake up, not knowing where I am, or why my friends have left. ;)

Ah yes, the incompetence routine=D  It's close enough, sure.

Personally I don't think legislation is the solution.  I'm Libertarian to the bone.

My Business background is IT Support.  In our industry, there are some sharky practices that are next-level twisted(Companies IT provider makes system so complicated that no other provider could possibly make sense of it.  Provider triples their rate, and goes home, coming in once or twice a year for emergencies.  Cute eh?)

But there's good money to be made on flat out honesty.  Observe the trend of the internet itself.  Why has google dominated the search engine war?  Simple answer:  It's the only honest search engine.  It took a while for people to notice this, but now google runs the world.

I was providing support for networking and data for scientists trying to cure a disease.  Huge money in that.  Real Estate is a rush for sure, but in that world(BioTech + Data Security), literally, no one ever lies about anything.  One lie, and you're DONE.  I'm not judging, but I can't deny how good it feels to do work like that.  A feeling no money will ever buy.

Upward and Onward.  Thank you all for the insight

I spent some time renting out some residential college space.  Compared to the world of real estate, Professional Tenants are the devil himself.  Don't even get me started.  I will admit, I admire that at least, the sour side of the RE world don't make a living crying victim and preying on pity.  Sharks they may be, but I enjoy there laughter 100 times more than the whining and complaining of the professional victims=D

@Joseph ODonovan

Ha I catch your drift with the reference.  I am a self-help, self-made, sovereign entity, and the sheeple hate one me for it all the time.  Let them.

And indeed, You are a good landlord, and you are a crucial asset to your community.  Where I live, I've met a few of these.  They are heroes.  

But, in truth @Joseph ODonovan.  Actually your other question is valid.  I am in fact wondering what people have to say about the allegations made by that organization.  I'm always open to change my mind.  That's the true reason I've posted this.

edit:  To reiterate, I have absolutely no problem with the commission structure.  Just as you say, it's a matter of taste.  If someone wants to pay 6%, that's their choice.  If someone prefers zillow or craigslist, let them have at it.

And I'm not a moralizer.  I see it as a sport.  When I was comparing those countries, it's like watching a soccer match between 'Realtors' and 'Consumers'.  I say: may the best haggler win!

Oh I apologize if I miscommunicated.  To be clear:  Does anyone make money in RE while trying to improve it's image and condition as an industry.  Just this thread is a great demonstration of what fun time that would be to attempt. @Joseph ODonovan

@Mike Cumbie My sincerest apologies for the accusations you feel may have been directed at you?

The purpose of my thread was to gather the good guys, which clearly you are one, and address the nationwide epidemic.  Do I need to bring up not just studies, reports, civil and criminal procedures, but even legislation addressing , or attempting to address, matters of say legal Dual-Agency, Designated Agency, Pocket Listings, etc. etc.

Listen, if you were sitting in front of me, asking for 6% commission, I'd hear you out.  If someone up front signed with you for 50% commission, that's ok with me! lol.  Realtors are the more honest side of the industry anyway.

(aside: (And a big Trophy popped up saying Congratulations when I clicked 'Post'. Just the 50th, it was funny though.)

Well personally I prefer not to think in 'norms' or dictate how the rest of the world should behave. If I were selling a Million dollar house, and someone wanted $60,000 to list it on the MLS, and sadly, negotiate deals that were not in my favor(in many cases, not all of course), I surely would ask for a smaller amount.

But in life we don't get what we deserve, we get what we negotiate for.

Thank you for the link.  Although not a comprehensive list of developed countries, I didn't realize that Mexico(the only one) had a higher standard commission rate than the US, and that Japan had the same one.  But in your link surely you see how low they are in the rest of the world, and more interestingly, the change between 2002 and 2015.  Looks like consumers are the better hagglers in most of the world, realtors are better at it in US, Mexico, and Japan.  I make no judgements.   Especially since these are up front negotiated terms.

The article I posted cited quite a few practices that are the norm(or at least common) in the US that are far more distasteful.  So I you have a point. @J Chad Davis

Interesting thread. I'm the owner of a very sought after home that's listed for sale on the MLS. It's a fixer upper. I've been doing showing after showing. Probably about 35 now.

My best offer on the table is from the ONLY person that did not see it, but that could be for many reasons.

My impression, and I would feel the same exact way in the shoes of my prospective buyers, was that the "showing" was partly about seeing the condition of the home, but mostly about feeling out me.  

It's entertaining the myriad of approaches people take to try to find my 'pressure points', or it actually blows my mind how good some people are at magically creating powerful rapport.(And then low balling me so hard i almost vomit and laugh at the same time)

So I'd say, if it's not a lockbox situation and you can encounter the seller's agent and/or owner, do it just to be able to make your sales pitch and/or in-person read.

Just wondering, does anyone on BP make money from RE, but actually acknowledge the simple points outlined in this site:

https://www.caare.org/

The site clearly and concisely absolutely exposes all of the worst things about RE.

Now, to be fair, I'm an aspiring RE Investor.  I am not a consumer advocate.  When these tactics get pulled on me, which they do all the time, I don't go call the Licensure Department or attempt to smear them online, or call the FBI (which I could have in several occasions)

I just say, "Please don't contact me again.  Good luck in your ventures"

But does anyone here on BP have a vision of a better RE Industry in the USA for the future?  Does anyone try to leverage that as their business model?

I mean seriously no other developed country has 6% commissions.  It would be absurd.

Thoughts?

The longer the response to that question, the more likely the person answering it is posturing themselves to perhaps have an edge over you.  Not saying any of the posters here are doing this, everything they wrote I believe to be accurate.  But Zillow's proprietary algorithm is becoming very very impressive.  Look into that, it's changing the whole business