Quote:
Originally Posted by Winsor_Pilates
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?
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You know it's true, my house did sell fast. A hot market, a good agent, and me doing allot of work on preparing the house made that happen.
I was using the $/hour figure to quantify a point.
I think this is an industry that needs to stop saying "its a small percentage" And needs to start saying for the average person 10k, 20k what ever it is in that range is allot of F***in money.
Real Estate needs to Modernize, get leaner, and focus more on giving the customers value for less.
In the long run it will probably work out better for professionals like Travis, because it would push many weekend agents, or get rich quick agents out of the industry. I don't believe Realtors have a meaningful impact on the volume of property being sold, that is a personal choice made before people even seriously engage a realtor. So Naturally the work would fall back to true professionals.