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The Dirty Game of Real Estate (pg. 4)
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| Nrg2Nfinit |
| quote: | Originally posted by Vivid Boy
Anyways the other buyer agent comes in after me and gives them full asking price and they accept it. no . Now i dont blame the sellers for accepting a high offer. I blame the in goof ball agent of the other buyers, who didnt even bother doing his homework and probably just found a way into bullting his clients into a full asking price offer.
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And that's exactly what i hate
buying brokers tell you to up your bid,
selling brokers tell you to drop your ask.
No matter how you cut it, buyers and sellers have to do their own due dilligence, the agent isnt there to tell you what to offer, they are there to give you the data to make your own decisions. Tell them what you want, if they try to talk you down or up on sale or buy (respectively) tell them too bad.
In the end it's your money, and the selling agent did a great job for his client in your situation. |
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| Nrg2Nfinit |
| quote: | Originally posted by Vivid Boy
In this transaction I was representing the buyer, who decided to put an offer on a house for sale. So we registered the offer and the selling agent advised me that there was another offer and we will be in a multiple offer situation. I went back to my clients and went over the comparables and even broke down the price to a price per sqft in the area. The house no matter how you looked at it was not worth the money. I told them this is how much it is worth and I will not let you overpay for it. So we put in an offer with our best foot forward because we were in competition. I sat down with the sellers and their agent and broke down all the work I did and explained why we came in at this price and why we would not be willing to come up any higher. They couldn't say anything back or argue because the facts were in front of their faces. I did my homework and I did it well. |
Can you show us the mls listing? |
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| Nrg2Nfinit |
well this thread just died
here's a good archive for toronto buyers who want to know where the market is at
http://tosold.ca/?cat=3 |
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| Dykes_on_Jay |
if you aren't desperate and don't have a mortgage to hold down, a real estate agent is not needed at all with this new thing called the internet. we just sold my dad's cond privately. rented some new furniture for staging, had my sister do open houses on the weekend, and bam!
we got a few low ball offer, but finally got the asking price. 5% saved on no agent + no taxes on inheritance means i can lose a bit more when i go to macau and put everything on :black:.
i'd diversify my portfolio , but there is nothing in it. it's ok the outside of it is plastered with jose canseco o pee chee baseball stickers from 1989.
bring on life stories, because chinese people make me rage at how uncivilized they are. there a quite a few of them too. *rubs hands* who wants to start?
babies don't wear diapers here, they and piss on the sidewalk...sometimes right beside your terrace table while eating dinner. they don't pick it up . |
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| Looney4Clooney |
| quote: | Originally posted by Nrg2Nfinit
No offense, but i find realestate agents useless. The only use they have is to give you historicals on housing prices because they are not publicly available (which i think is retarded) In canada, whenever you can it's suggested that you go to the seller agent directly to minimize comissions paid out.
These agents sit down do nothing and take a good generally 2.5 % of the sale each (2.5 for the buyer broker and 2.5 from the seller broker) seller pays.
i just tried to buy a second property recently by going to the selling broker and she wanted 5 %, i told her thats bull. I told her to drop the sale price by 2.5% or it wouldn't work. She wouldnt budge.. I'm going to wait until her 90 days are up, contact the seller and probably do the private sale.
A selling agent should get like zero comission, if one goes through a buyer broker, they should get some comission because they are actually bringing a client to a seller.
Anyways that's my rant.
For selling a 5 million dollar property a broker brings in 125k.
And the whole scam of making the buyer sign a comission agreement to pay their agent when they buy a property? what bull
The seller should always always pay all the comission. |
it all depends. I remember when my parents moved to Calgary, you had to buy on the spot or it would be sold in the next hour. Was like that for 5 years. You needed an agent. |
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| Jon_Snow |
| Real estate agents are upscale car salesmen. As a buyer you need to do your home work but depending on the demand it can be a bit like ebay with people overpaying too win. Being flexible on location and being patient are a consumer best weapons. But sometimes you don't have the luxury of time. |
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| Lilith |
| The last douche bag agency who tried to rip me off over a written agreement on a house price got ruined in court. Fairly sure their liability insurance probably covered most of it, but it was a good year for me :p |
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| saluyamo |
On the matter of sales, has anyone here been involved in business to business sales?
Is it slimy or can you get by on just knowing a lot about the customers type of business and the product? |
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| Big Worm |
vivid i like where you are coming from.
you know, helping those people not get screwed might seem like all for not now, but it'll all shake out in the end... you did your part, and good for you.
have you ever read the play "glengarry glen ross"? friggn great read, prob take you an hour or two to get through. it touches on some of the stuff you were talking about in your initial post... real estate being a dirty game. |
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| tubularbills |
Never done the real estate thing except for just being a homeowner and a landlord.
Sold my house in Oklahoma. was a cash offer. was less than what I was hoping to get but I still came out a few grand ahead. unfortunately, I'm underwater on my house in Shreveport :( |
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| Nrg2Nfinit |
| it's not a loss until you sell |
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| ak87 |
| quote: | Originally posted by Vivid Boy
I am a fully licensed HVAC technician, I am licensed to design heating and cooling systems in Housing, I have built homes and condos, I have a college degree, I have an architecture certificate ( you really can't do crap with it, but it was basically for the general information), I am finishing a University Business Degree in Marketing and will be applying for my MBA shortly. I have started 2 businesses, one that I closed because of how boring the nature of the business was and One that I still work in full time.
I wouldn't ever call myself uneducated or a dumbass. I just didn't grow up in your picture perfect small town suburb with your white picket fence with mommy and daddy saving their money for your post secondary education. I grew up working during the day, going to school at night with aspirations of wanting to do my own thing. |
A fully licensed hvac technician makes $110000 a year before taxes... add in any cash jobs..... y the f**k would u go into the dog eat dog world of real estate |
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