SuperSpreader Posted March 19 Share Posted March 19 The way Americans buy and sell homes is about to get turned on its head | CNN Business WWW.CNN.COM The way Americans buy and sell homes is about to get turned on its head. This is super interesting. I think the good realtors, the ones who have a team for repairs, do staging and photos are gonna probably go up in price or stay level while the hobbyists who take photos with their phones and don't do open houses will probably drop out as their prices aren't competitive. Quote Link to comment Share on other sites More sharing options...
chakoo Posted March 19 Share Posted March 19 6% is nuts. It’s 5% here in Toronto which is split between the realtor and buyers agent. When even a 1 bedroom condo is going for 700k+ it’s an absurd amount of money. Some buying agents will even make you sign in their contract that you’ll pay the difference if the seller doesn’t give them their 2.5%. -.- Quote Link to comment Share on other sites More sharing options...
GeneticBlueprint Posted March 19 Share Posted March 19 I did a FSBO without any realtors involved. It’s the most pointless thing to pay somebody to do if you’re motivated to buy or sell. Waste of money. Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 19 Author Share Posted March 19 I disagree, I made $350,000 on my first place and another 200,000 on my second place. The first place I lived in for 4 years the second place for two years. The houses that didn't have staging, didn't have professional photos, and didn't have open houses stayed on the market much longer and mine sold within 2 weeks or so. There are crappy Realtors out there, the ones that won't do the open houses, photos, staging, or any marketing. Here's the other crazy part, both of these places were condos. I've seen some condo hate on this forum and you guys are just completely wrong. It's about the right place, and the right neighborhood. That's $550,000 tax free in about 6 years. Quote Link to comment Share on other sites More sharing options...
Brian Posted March 19 Share Posted March 19 The only reason I was able to get a great house in a great area was due to the fact the owner decided to sell himself. He didn’t advertise the sale minus a sign on the yard. We saw and called. He had no other interested parties. It was a quick and easy negotiation since he had a double mortgage and wanted out. Quote Link to comment Share on other sites More sharing options...
Jwheel86 Posted March 19 Share Posted March 19 Our neighbor who's a Buyer Agent for the most part is worried she isn't going to be paid now. Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 19 Author Share Posted March 19 2 minutes ago, Brian said: It was a quick and easy negotiation since he had a double mortgage and wanted out. Yeah he definitely couldn't afford a realtor, it would have put him in the negative. Good for you. 1 Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 19 Author Share Posted March 19 5 minutes ago, Jwheel86 said: Our neighbor who's a Buyer Agent for the most part is worried she isn't going to be paid now. I wonder if buying just becomes more expensive. Or if you only go to realtors who are selling the house you're wanting to buy, a conflict of interest for sure! I have heard from a realtor that when the buyers agent fee is less than 2.5% then buyers agents just don't show those places because it's not in their interest. So those houses end up selling for less/sit on the market longer since there's no incentive to show it. Quote Link to comment Share on other sites More sharing options...
Jwheel86 Posted March 19 Share Posted March 19 1 minute ago, SuperSpreader said: I wonder if buying just becomes more expensive. Or if you only go to realtors who are selling the house you're wanting to buy, a conflict of interest for sure! My parents did dual agent selling their house, absolute nightmare when an inspection issue came up and had to be negotiated. They didn't feel like they had a realtor advocating and advising them at that point. 1 Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 19 Author Share Posted March 19 1 minute ago, Jwheel86 said: My parents did dual agent selling their house, absolute nightmare when an inspection issue came up and had to be negotiated. They didn't feel like they had a realtor advocating and advising them at that point. We did it with our second place but the person was a real pro. It also gave us a discount from 6% to 4.5% The person who bought it happened to stop by during an open house. Quote Link to comment Share on other sites More sharing options...
marioandsonic Posted March 19 Share Posted March 19 Me ITT in my apartment reading about all you Richie Riches talking about owning homes: 5 3 Quote Link to comment Share on other sites More sharing options...
GeneticBlueprint Posted March 19 Share Posted March 19 1 minute ago, marioandsonic said: Me ITT in my apartment reading about all you Richie Riches talking about owning homes: That looks like a home from which you are viewing us Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 19 Author Share Posted March 19 2 minutes ago, marioandsonic said: Me ITT in my apartment reading about all you Richie Riches talking about owning homes: Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 19 Author Share Posted March 19 Just now, GeneticBlueprint said: That looks like a home from which you are viewing us He's renting an attic. Quote Link to comment Share on other sites More sharing options...
GeneticBlueprint Posted March 19 Share Posted March 19 4 minutes ago, SuperSpreader said: He's renting an attic. Those can be cool if done right Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 19 Author Share Posted March 19 13 minutes ago, GeneticBlueprint said: Those can be cool if done right It's the one from Yellowjackets Quote Link to comment Share on other sites More sharing options...
chakoo Posted March 19 Share Posted March 19 1 hour ago, SuperSpreader said: Here's the other crazy part, both of these places were condos. I've seen some condo hate on this forum and you guys are just completely wrong. It's about the right place, and the right neighborhood. That's $550,000 tax free in about 6 years. No condo hate from me. I love my 2bdr condo in DT Toronto. My building is a bit older but is well maintained and because of that the floor space is huge (1350 sqf). I feel like I would die of depression if I had to move out to the suburbs. I just personally feel the price of housing/condo here in Canada/Toronto is ridiculous (the houses near me are all 3mil+ starting). 1 Quote Link to comment Share on other sites More sharing options...
Spawn_of_Apathy Posted March 19 Share Posted March 19 55 minutes ago, marioandsonic said: Me ITT in my apartment reading about all you Richie Riches talking about owning homes: same bro. Quote Link to comment Share on other sites More sharing options...
Ominous Posted March 19 Share Posted March 19 Useless profession 1 Quote Link to comment Share on other sites More sharing options...
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