Sometimes I wonder why I bother addressing posts like these but then I tell myself that I am just trying to help people out with facts rather then speculative posts that seem to run rampant.
El Jefe – Do you know what a lifetime of MLS fees adds up to? Do you even know how much it costs to join SDAR so that you have access to the MLS? Do you know the difference in fees if you are a salesperson verses a broker? Probably you do not.
Also do you think having a brokers license will alone give you access to be able to shop with all the lenders and be able to have leverage with them to get your own loan?
I take it you have done this before or else you wouldn’t advise others to do it correct? I don’t mean to come down on you and maybe you do know the answers to all of those questions. If you do, then I apologize. If not then I do not.
Currently a salesperson pays 132 a quarter for MLS fees and a couple hundred more for the annual payment. I will point out other costs and considerations below.
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I try to post facts when I post. When I do not then I use the statement in my opinion or IMO.
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When you become a licensee, (after you have taken the appropriate classes or have previous college credits) and you have passed the state test, in order to buy or sell real estate, be it for yourself or for others you need to hang your license with a broker. Alternately you can go ahead and obtain your brokers license as well. Now when you have this, in order to gain access to the MLS you need to join the local association of Realtors. In San Diego that is SDAR the San Diego Association of Realtors. Every county has their own association. Joining the association is actually beneficial contrary to what all of you believe. As an electrical engineer I shared your skepticism, believe me. However when you do join you pay a membership fee to get access to the MLS and you can get a Sentriock key to show homes as well. Another thing that many people never consider would be E&O (errors and ommissions insurance) which you will need to obtain.
Also, I have used a real estate attorney before so I do think is curious to see the speculative posts on the cost of that service.
I am not saying that the current system is good. Like I said I got tired of paying commissions as well so I did do it myself. I went through the entire process and I know others that have as well. I am not saying the current system is good or equitable or anything of the sorts. If you don’t like don’t use it. You can sell a house yourself, you don’t need to put it on the MLS or offer any commission. You can call Jeff Karchin and he charges like 500 bucks or something like that to put you on the MLS.
Radelow himself just posted the other day and he is going to buy and not use an agent, he is just going to tell the listing agent to cut the price by the buyers commission and he will represent himself.
