Quote:
Originally Posted by #-3
I have not been trying to argue that Realtors do not provide an effective service, and I think that the second Realtor I worked with was vary good.
All of that being said even having a good, experienced, smart, and hard working Realtor.
I personally did not find the experience of working with a Realtor vary helpful when purchasing. As somebody who likes to be more involved when I am spending 5x my annual income, I felt at times he just got in my way or that he thought I was stepping on his toes.
When selling a house, I found working with a Realtor vary helpful. But when I compare the cost to other professional services like lawyers or accountants, they are vary vary vary expensive. And with far smaller barriers to get into that industry, it just doesn't make sense.
All of that being said. I try to be fair to the individuals, by acknowledging that they are not all making $800,000/year for a job that is vary demanding, but not extremely challenging. They are in an industry with systemic problems that they probably struggle with too.
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As a Realtor, I actually appreciate the topics you've brought up in this thread. It's more of an industry thing, so it's good to hear feedback from buyers/sellers about the industry set up.
The industry is set up to be based on results, and not time. That seems to be where your objection is.
It seems you're suggesting a model based on hours and payment for time would be better?
A couple issues I see there though:
1) Your transaction likely happened fast, so you're coming up with a $400/hr amount.
If your transaction took a long time, would you be willing to pay more for the service?
As a buyer what if you spend 6-8 months looking for places with your Realtor and then decided not to buy at all; this happens a lot.
Would you be willing to pay that agent an hourly rate for the time spend over this 6 months?
2) If I sold home X for $650,000 in 2 days vs selling home X for $600,000 in 6 months.
Would you be willing to pay me a higher commission for the $600,000 sale because it took more of my time?