What real use are real estate agents if we can sell our home ourselves?
In: Economics
Residential realtors are completely obsolete, overpaid and are constant purveyors of misinformation! I have bought and sold a bunch of houses and every, single time there is a point where a know nothing realtor says “you can’t write that into a contract” or “you can’t do that” and I have to tell them they don’t know what they are talking about. Good commercial realtors can add some value but are probably still overpaid. Residential realty agency is 100% only around because lobbying, protectionism and their stranglehold on the MLS.
Funny another thread was going on and on about how evil landlords are but real estate agents take even more money out of peoples pockets and no ones bats an eye
simply put, they know more about how to sell a house, and theyre better at it. they know all the things people try to use to haggle down the price, they literally negotiate house prices for a living, and they know better what to price it at to begin with, and how to get all the proper paperwork done.
A lot of people have made some good points here for buyers but I haven’t seen anyone mention the reason why it’s important to as a seller. The commission comes out of the sale price, the buyer doesn’t typically pay a realtor. That being said, a realtor isn’t going to bring their clients to your house if there’s no commission in it because you’re trying to sell it privately. If you have your house for sale, you typically want as much exposure as possible to get a quick sale or even multiple offers to get the most money. Removing yourself from 90% of the market would make it difficult to sell unless you’re in an extremely demanding area.
We had a crap situation where our realtor really helped us out of a jam. We bought a flipped house from a corporation who had inadvertently bundled our property with 10 others in a very large loan. Hence they put an illegal loan on our house after we had purchased it.
We didn’t realize this until a year later when we went to refinance the mortgage for lower rates.
We texted, called, emailed the corporation that formerly owned our property and got no where. After a month of this, I pinged our realtor and we had the paper work fixed within a week.
TDLR: llegal loan fixed by our realtor.
I suppose it’s all what you’re comfortable with. I don’t pay a mechanic. I’ve been a mechanic or similar for 20 years, but I would use a realtor because I’m not comfortable with that work on my own.
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