How to Buy w/out a Realtor?

[sdrealtor]

nj
The lower rates are more prevalent in the more densely populated areas that you are probably familiar with. IN the more rural and/or lesser populated markets commission rates are often 7 to 8%

[bearishgurl]

[quote=njtosd]As a former resident of the midwest, I am very curious to know what portion of the midwest you’re talking about. I’ve never heard of such rates.[/quote]

KS, OK, TX in primarily rural areas and small towns with <8000 pop. There may only be 1-3 RE brokers serving a 40-80 mile radius area. An out-of-area broker would charge the higher end or more, for travel. Many of the properties are agricultural and/or commercial and may or may not have houses or buildings situated on them. There may be water rights issues, oil or mineral rights, egress and ingress issues, livestock leases and/or contracts with the government on the land use or nonuse, etc. These brokers are typically natives to their market area and VERY experienced.

see: http://www.bls.gov/oco/ocos120.htm

Most real estate brokers and sales agents sell residential property. A small number—usually employed in large or specialized firms—sell commercial, industrial, agricultural, or other types of real estate. Every specialty requires knowledge of that particular type of property and clientele. Selling, buying, or leasing business property requires an understanding of leasing practices, business trends, and the location of the property. Agents who sell, buy, or lease industrial properties must know about the region’s transportation, utilities, and labor supply. Whatever the type of property, the agent or broker must know how to meet the client’s particular requirements.

(emphasis added)

You might come to the conclusion that these RE brokers have a “monopoly” on land sales in their area but wouldn’t you want to avail yourself of their knowledge if you were a seller or an out-of-town buyer?

[bearishgurl]

[quote=njtosd]As a former resident of the midwest, I am very curious to know what portion of the midwest you’re talking about. I’ve never heard of such rates.[/quote]

KS, OK, TX in primarily rural areas and small towns with <8000 pop. There may only be 1-3 RE brokers serving a 40-80 mile radius area. An out-of-area broker would charge the higher end or more, for travel. Many of the properties are agricultural and/or commercial and may or may not have houses or buildings situated on them. There may be water rights issues, oil or mineral rights, egress and ingress issues, livestock leases and/or contracts with the government on the land use or nonuse, etc. These brokers are typically natives to their market area and VERY experienced.

see: http://www.bls.gov/oco/ocos120.htm

Most real estate brokers and sales agents sell residential property. A small number—usually employed in large or specialized firms—sell commercial, industrial, agricultural, or other types of real estate. Every specialty requires knowledge of that particular type of property and clientele. Selling, buying, or leasing business property requires an understanding of leasing practices, business trends, and the location of the property. Agents who sell, buy, or lease industrial properties must know about the region’s transportation, utilities, and labor supply. Whatever the type of property, the agent or broker must know how to meet the client’s particular requirements.

(emphasis added)

You might come to the conclusion that these RE brokers have a “monopoly” on land sales in their area but wouldn’t you want to avail yourself of their knowledge if you were a seller or an out-of-town buyer?

[bearishgurl]

[quote=njtosd]As a former resident of the midwest, I am very curious to know what portion of the midwest you’re talking about. I’ve never heard of such rates.[/quote]

KS, OK, TX in primarily rural areas and small towns with <8000 pop. There may only be 1-3 RE brokers serving a 40-80 mile radius area. An out-of-area broker would charge the higher end or more, for travel. Many of the properties are agricultural and/or commercial and may or may not have houses or buildings situated on them. There may be water rights issues, oil or mineral rights, egress and ingress issues, livestock leases and/or contracts with the government on the land use or nonuse, etc. These brokers are typically natives to their market area and VERY experienced.

see: http://www.bls.gov/oco/ocos120.htm

Most real estate brokers and sales agents sell residential property. A small number—usually employed in large or specialized firms—sell commercial, industrial, agricultural, or other types of real estate. Every specialty requires knowledge of that particular type of property and clientele. Selling, buying, or leasing business property requires an understanding of leasing practices, business trends, and the location of the property. Agents who sell, buy, or lease industrial properties must know about the region’s transportation, utilities, and labor supply. Whatever the type of property, the agent or broker must know how to meet the client’s particular requirements.

(emphasis added)

You might come to the conclusion that these RE brokers have a “monopoly” on land sales in their area but wouldn’t you want to avail yourself of their knowledge if you were a seller or an out-of-town buyer?

[bearishgurl]

[quote=njtosd]As a former resident of the midwest, I am very curious to know what portion of the midwest you’re talking about. I’ve never heard of such rates.[/quote]

KS, OK, TX in primarily rural areas and small towns with <8000 pop. There may only be 1-3 RE brokers serving a 40-80 mile radius area. An out-of-area broker would charge the higher end or more, for travel. Many of the properties are agricultural and/or commercial and may or may not have houses or buildings situated on them. There may be water rights issues, oil or mineral rights, egress and ingress issues, livestock leases and/or contracts with the government on the land use or nonuse, etc. These brokers are typically natives to their market area and VERY experienced.

see: http://www.bls.gov/oco/ocos120.htm

Most real estate brokers and sales agents sell residential property. A small number—usually employed in large or specialized firms—sell commercial, industrial, agricultural, or other types of real estate. Every specialty requires knowledge of that particular type of property and clientele. Selling, buying, or leasing business property requires an understanding of leasing practices, business trends, and the location of the property. Agents who sell, buy, or lease industrial properties must know about the region’s transportation, utilities, and labor supply. Whatever the type of property, the agent or broker must know how to meet the client’s particular requirements.

(emphasis added)

You might come to the conclusion that these RE brokers have a “monopoly” on land sales in their area but wouldn’t you want to avail yourself of their knowledge if you were a seller or an out-of-town buyer?

[bearishgurl]

[quote=njtosd]As a former resident of the midwest, I am very curious to know what portion of the midwest you’re talking about. I’ve never heard of such rates.[/quote]

KS, OK, TX in primarily rural areas and small towns with <8000 pop. There may only be 1-3 RE brokers serving a 40-80 mile radius area. An out-of-area broker would charge the higher end or more, for travel. Many of the properties are agricultural and/or commercial and may or may not have houses or buildings situated on them. There may be water rights issues, oil or mineral rights, egress and ingress issues, livestock leases and/or contracts with the government on the land use or nonuse, etc. These brokers are typically natives to their market area and VERY experienced.

see: http://www.bls.gov/oco/ocos120.htm

Most real estate brokers and sales agents sell residential property. A small number—usually employed in large or specialized firms—sell commercial, industrial, agricultural, or other types of real estate. Every specialty requires knowledge of that particular type of property and clientele. Selling, buying, or leasing business property requires an understanding of leasing practices, business trends, and the location of the property. Agents who sell, buy, or lease industrial properties must know about the region’s transportation, utilities, and labor supply. Whatever the type of property, the agent or broker must know how to meet the client’s particular requirements.

(emphasis added)

You might come to the conclusion that these RE brokers have a “monopoly” on land sales in their area but wouldn’t you want to avail yourself of their knowledge if you were a seller or an out-of-town buyer?

[njtosd]

You must have lived in CA for most of your life :). Oklahoma and Texas are not part of the midwest. And according to the real estate info I looked at for Topeka (KS) the average is 6%. I can’t believe that anyone would pay more than 6 these days, with the availability of information about commissions on the internet. Maybe in areas with elderly people who are not as likely to use internet resources, but I assume that will change over time.

[njtosd]

You must have lived in CA for most of your life :). Oklahoma and Texas are not part of the midwest. And according to the real estate info I looked at for Topeka (KS) the average is 6%. I can’t believe that anyone would pay more than 6 these days, with the availability of information about commissions on the internet. Maybe in areas with elderly people who are not as likely to use internet resources, but I assume that will change over time.

[njtosd]

You must have lived in CA for most of your life :). Oklahoma and Texas are not part of the midwest. And according to the real estate info I looked at for Topeka (KS) the average is 6%. I can’t believe that anyone would pay more than 6 these days, with the availability of information about commissions on the internet. Maybe in areas with elderly people who are not as likely to use internet resources, but I assume that will change over time.

[njtosd]

You must have lived in CA for most of your life :). Oklahoma and Texas are not part of the midwest. And according to the real estate info I looked at for Topeka (KS) the average is 6%. I can’t believe that anyone would pay more than 6 these days, with the availability of information about commissions on the internet. Maybe in areas with elderly people who are not as likely to use internet resources, but I assume that will change over time.

[njtosd]

You must have lived in CA for most of your life :). Oklahoma and Texas are not part of the midwest. And according to the real estate info I looked at for Topeka (KS) the average is 6%. I can’t believe that anyone would pay more than 6 these days, with the availability of information about commissions on the internet. Maybe in areas with elderly people who are not as likely to use internet resources, but I assume that will change over time.

[bearishgurl]

[quote=njtosd]You must have lived in CA for most of your life :). Oklahoma and Texas are not part of the midwest. And according to the real estate info I looked at for Topeka (KS) the average is 6%. I can’t believe that anyone would pay more than 6 these days, with the availability of information about commissions on the internet. Maybe in areas with elderly people who are not as likely to use internet resources, but I assume that will change over time.[/quote]

Topeka, KS is a city. I stated that rural brokers are charging this much to sell agricultural/commercial property or houses in very small towns. I have relatives in these areas and I have been told by them that 7%+ is the going rate for a house in a small town and 7.5%+ for acreage.

Yes, I HAVE lived in CA most all of my life (except HS), but I visit these states often. Okay, southwest then . . . if they are not “mid”west then is the “midwest” east of there? Please elaborate on where you consider the “midwest” to be. I was educated in CA and CO (HS) so maybe I’m just stupid about this stuff :=]

[bearishgurl]

[quote=njtosd]You must have lived in CA for most of your life :). Oklahoma and Texas are not part of the midwest. And according to the real estate info I looked at for Topeka (KS) the average is 6%. I can’t believe that anyone would pay more than 6 these days, with the availability of information about commissions on the internet. Maybe in areas with elderly people who are not as likely to use internet resources, but I assume that will change over time.[/quote]

Topeka, KS is a city. I stated that rural brokers are charging this much to sell agricultural/commercial property or houses in very small towns. I have relatives in these areas and I have been told by them that 7%+ is the going rate for a house in a small town and 7.5%+ for acreage.

Yes, I HAVE lived in CA most all of my life (except HS), but I visit these states often. Okay, southwest then . . . if they are not “mid”west then is the “midwest” east of there? Please elaborate on where you consider the “midwest” to be. I was educated in CA and CO (HS) so maybe I’m just stupid about this stuff :=]

[bearishgurl]

[quote=njtosd]You must have lived in CA for most of your life :). Oklahoma and Texas are not part of the midwest. And according to the real estate info I looked at for Topeka (KS) the average is 6%. I can’t believe that anyone would pay more than 6 these days, with the availability of information about commissions on the internet. Maybe in areas with elderly people who are not as likely to use internet resources, but I assume that will change over time.[/quote]

Topeka, KS is a city. I stated that rural brokers are charging this much to sell agricultural/commercial property or houses in very small towns. I have relatives in these areas and I have been told by them that 7%+ is the going rate for a house in a small town and 7.5%+ for acreage.

Yes, I HAVE lived in CA most all of my life (except HS), but I visit these states often. Okay, southwest then . . . if they are not “mid”west then is the “midwest” east of there? Please elaborate on where you consider the “midwest” to be. I was educated in CA and CO (HS) so maybe I’m just stupid about this stuff :=]

[bearishgurl]

[quote=njtosd]You must have lived in CA for most of your life :). Oklahoma and Texas are not part of the midwest. And according to the real estate info I looked at for Topeka (KS) the average is 6%. I can’t believe that anyone would pay more than 6 these days, with the availability of information about commissions on the internet. Maybe in areas with elderly people who are not as likely to use internet resources, but I assume that will change over time.[/quote]

Topeka, KS is a city. I stated that rural brokers are charging this much to sell agricultural/commercial property or houses in very small towns. I have relatives in these areas and I have been told by them that 7%+ is the going rate for a house in a small town and 7.5%+ for acreage.

Yes, I HAVE lived in CA most all of my life (except HS), but I visit these states often. Okay, southwest then . . . if they are not “mid”west then is the “midwest” east of there? Please elaborate on where you consider the “midwest” to be. I was educated in CA and CO (HS) so maybe I’m just stupid about this stuff :=]

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