The cult of professional specialists

[bearishgurl]

[quote=Russell]The important feature in RE is the “cabal” not the “cult” of professional specialists. The first enables the second and real estate is hardly the only “profession” under such a system.

Most endeavors in our society have been put under difficult to circumvent, “pay to play” constricts. In some cases the financial burdens to the consumer are ridiculous as in real estate commissions.

When you witness the typical schmoozing, puffing , bullying, word twisting, mystique inducing realtor, that is only happening because that is what works best.If it didn’t work, we would have a different “typical” realtor. Obviously, some RE sales and mortgage people have skills and work ethics that are beneficial to their businesses and prevalance of the negative components,however typical, is highly variable.[/quote]

Russell, I agree about “pay to play” constricts being expensive for consumers. Of course, the same could be said for attorneys – you can’t live with ’em and you can’t live without ’em. You would actually have to follow a busy atty or RE agent around all day to see exactly what it is that they do for a living . . . kinda like a police ride-along. If you follow your attorney you’re riding along with into court and watch him/her address the court and possibly argue, you might ask yourself if you can do that for yourself and also ask yourself what that atty had to do in order to prepare him/herself to address the court today. Then, if it looks easy to you, cake . . . easy money, and you think you might like to pursue this line of work, then you should prepare and apply for that license, that law school (assuming you’re admittable and admitted) . . . and 3-5 years later, apply and pay to take the bar exam . . . lather, rinse and repeat until you pass it. And then get ready to “assume the position” of paying down your $120K+ law school debt (working or not).

Did y’all ever think that “typical” realtors might be schmoozing, puffing , bullying, word twisting and mystique inducing because they are constantly approached by the captchas, drbooms and stevenos (no offense here) of the world about piecemealing their services, commission kickbacks and “representing themselves.” How can an agent get anything going with a “qualified long-time resident shopping in their own home turf” (like drboom and the best kind of buyer to have) unless they figure out a way to make him/her feel like they are “representing themselves?”

You might want to ask an active CA RE licensee how much IT COSTS them to remain “active” whether they make any $$ or not. Licensing fees, required continuing ed, REALIST, elec CAR forms, high-speed scanner rental, gas, signage, mobile broadband, business license and possibly office overhead (if broker), advertising, lockboxes, sandicor, transaction coordinator fee, assistant salary, extra block of minutes for cell phone and of course, health insurance and social security. If working with distressed properties, you might also need Lexis Nexis and/or an online up to the minute trust-deed status service and, as sdr said, a “short-sale negotiator.” Not to mention that the majority of agent-salespersons have to split their 2-3% commission with their broker when they finally DO get paid!

It’s EASY to waste 100 hours working in RE sales. If an active licensee chooses to waste their time with every Joe Schmo Flake that wants some of it, the clock WOULD STILL BE RUNNING on all the above expenses (in addition to their LIVING expenses) and they would end up having to get out of the business . . . very fast.

I’ll repeat my mantra . . . if ya can’t beat ’em, STOP COMPLAINING AND JOIN ‘EM!

[sdrealtor]

An organic sale is another name for a traditional sale or an equity sale. It is one where the seller has equity and can accept a buyers offer and close whenever the buyer& seller agree as opposed to be under the control of a 3rd party.

DR B.
You are going off the deep end now. I am not looking for suckers and to the cotnrary I am looking for committed buyers willing to wait around for a good deal. If you go back and check my closed short sales you will see buyers who got very good deals relative to the market they bought in. My job is to solve a problem for the seller and if I can make it pay for the buyer also at no damage to my client I am all for it. But first and foremost, I report to the seller not the buyer not the lender not the tax payer but to my client the seller.

I absolutely expect that buyers who submit offers on my short sales will keep looking but and its a big but, I try to find a buyer with a compelling reason to buy this particular home. For example, a buyer making an offer on one of my listings that grew up in this neighborhood has a much smaller universe to flee to than an investor who will buy anything that make sense. There are no absolutes in this process but there are better stronger bets that can be made. A buyer making an offer on my listing is making a better bet because i have a nearly flawless record at getting them done and if they have a good strong agent their agent will let them know the difference of working with me and some guy with 250 short sale listings that commits to no buyer until escrow and has a very high percentage end up in foreclosure. A seller making a bet on a buyer who grew up in the neighborhood and is represented by a strong/expereicned agent is making a better bet because that buyer is far more likely to stick it out. Additionally I always try to get the buyer a good deal on a short sale, not $50K off the fair market value but $10 to 20K as an added carrot that they will wait around for. There are no guarantees in this business or this world but there are better ways that reduce risk and that is what I try to do. My track record stands testimony that it has worked thus far.

[sdrealtor]

An organic sale is another name for a traditional sale or an equity sale. It is one where the seller has equity and can accept a buyers offer and close whenever the buyer& seller agree as opposed to be under the control of a 3rd party.

DR B.
You are going off the deep end now. I am not looking for suckers and to the cotnrary I am looking for committed buyers willing to wait around for a good deal. If you go back and check my closed short sales you will see buyers who got very good deals relative to the market they bought in. My job is to solve a problem for the seller and if I can make it pay for the buyer also at no damage to my client I am all for it. But first and foremost, I report to the seller not the buyer not the lender not the tax payer but to my client the seller.

I absolutely expect that buyers who submit offers on my short sales will keep looking but and its a big but, I try to find a buyer with a compelling reason to buy this particular home. For example, a buyer making an offer on one of my listings that grew up in this neighborhood has a much smaller universe to flee to than an investor who will buy anything that make sense. There are no absolutes in this process but there are better stronger bets that can be made. A buyer making an offer on my listing is making a better bet because i have a nearly flawless record at getting them done and if they have a good strong agent their agent will let them know the difference of working with me and some guy with 250 short sale listings that commits to no buyer until escrow and has a very high percentage end up in foreclosure. A seller making a bet on a buyer who grew up in the neighborhood and is represented by a strong/expereicned agent is making a better bet because that buyer is far more likely to stick it out. Additionally I always try to get the buyer a good deal on a short sale, not $50K off the fair market value but $10 to 20K as an added carrot that they will wait around for. There are no guarantees in this business or this world but there are better ways that reduce risk and that is what I try to do. My track record stands testimony that it has worked thus far.

[sdrealtor]

An organic sale is another name for a traditional sale or an equity sale. It is one where the seller has equity and can accept a buyers offer and close whenever the buyer& seller agree as opposed to be under the control of a 3rd party.

DR B.
You are going off the deep end now. I am not looking for suckers and to the cotnrary I am looking for committed buyers willing to wait around for a good deal. If you go back and check my closed short sales you will see buyers who got very good deals relative to the market they bought in. My job is to solve a problem for the seller and if I can make it pay for the buyer also at no damage to my client I am all for it. But first and foremost, I report to the seller not the buyer not the lender not the tax payer but to my client the seller.

I absolutely expect that buyers who submit offers on my short sales will keep looking but and its a big but, I try to find a buyer with a compelling reason to buy this particular home. For example, a buyer making an offer on one of my listings that grew up in this neighborhood has a much smaller universe to flee to than an investor who will buy anything that make sense. There are no absolutes in this process but there are better stronger bets that can be made. A buyer making an offer on my listing is making a better bet because i have a nearly flawless record at getting them done and if they have a good strong agent their agent will let them know the difference of working with me and some guy with 250 short sale listings that commits to no buyer until escrow and has a very high percentage end up in foreclosure. A seller making a bet on a buyer who grew up in the neighborhood and is represented by a strong/expereicned agent is making a better bet because that buyer is far more likely to stick it out. Additionally I always try to get the buyer a good deal on a short sale, not $50K off the fair market value but $10 to 20K as an added carrot that they will wait around for. There are no guarantees in this business or this world but there are better ways that reduce risk and that is what I try to do. My track record stands testimony that it has worked thus far.

[sdrealtor]

An organic sale is another name for a traditional sale or an equity sale. It is one where the seller has equity and can accept a buyers offer and close whenever the buyer& seller agree as opposed to be under the control of a 3rd party.

DR B.
You are going off the deep end now. I am not looking for suckers and to the cotnrary I am looking for committed buyers willing to wait around for a good deal. If you go back and check my closed short sales you will see buyers who got very good deals relative to the market they bought in. My job is to solve a problem for the seller and if I can make it pay for the buyer also at no damage to my client I am all for it. But first and foremost, I report to the seller not the buyer not the lender not the tax payer but to my client the seller.

I absolutely expect that buyers who submit offers on my short sales will keep looking but and its a big but, I try to find a buyer with a compelling reason to buy this particular home. For example, a buyer making an offer on one of my listings that grew up in this neighborhood has a much smaller universe to flee to than an investor who will buy anything that make sense. There are no absolutes in this process but there are better stronger bets that can be made. A buyer making an offer on my listing is making a better bet because i have a nearly flawless record at getting them done and if they have a good strong agent their agent will let them know the difference of working with me and some guy with 250 short sale listings that commits to no buyer until escrow and has a very high percentage end up in foreclosure. A seller making a bet on a buyer who grew up in the neighborhood and is represented by a strong/expereicned agent is making a better bet because that buyer is far more likely to stick it out. Additionally I always try to get the buyer a good deal on a short sale, not $50K off the fair market value but $10 to 20K as an added carrot that they will wait around for. There are no guarantees in this business or this world but there are better ways that reduce risk and that is what I try to do. My track record stands testimony that it has worked thus far.

[sdrealtor]

An organic sale is another name for a traditional sale or an equity sale. It is one where the seller has equity and can accept a buyers offer and close whenever the buyer& seller agree as opposed to be under the control of a 3rd party.

DR B.
You are going off the deep end now. I am not looking for suckers and to the cotnrary I am looking for committed buyers willing to wait around for a good deal. If you go back and check my closed short sales you will see buyers who got very good deals relative to the market they bought in. My job is to solve a problem for the seller and if I can make it pay for the buyer also at no damage to my client I am all for it. But first and foremost, I report to the seller not the buyer not the lender not the tax payer but to my client the seller.

I absolutely expect that buyers who submit offers on my short sales will keep looking but and its a big but, I try to find a buyer with a compelling reason to buy this particular home. For example, a buyer making an offer on one of my listings that grew up in this neighborhood has a much smaller universe to flee to than an investor who will buy anything that make sense. There are no absolutes in this process but there are better stronger bets that can be made. A buyer making an offer on my listing is making a better bet because i have a nearly flawless record at getting them done and if they have a good strong agent their agent will let them know the difference of working with me and some guy with 250 short sale listings that commits to no buyer until escrow and has a very high percentage end up in foreclosure. A seller making a bet on a buyer who grew up in the neighborhood and is represented by a strong/expereicned agent is making a better bet because that buyer is far more likely to stick it out. Additionally I always try to get the buyer a good deal on a short sale, not $50K off the fair market value but $10 to 20K as an added carrot that they will wait around for. There are no guarantees in this business or this world but there are better ways that reduce risk and that is what I try to do. My track record stands testimony that it has worked thus far.

[njtosd]

[quote=justme]
. . .There is no way that siphoning off 6% of each transaction will get either buyer or seller as good a deal as they otherwise would have. . . .

.[/quote]

I guess the basic question is this – most professionals bill on an hourly basis. Sometimes, a flat fee is arranged. Why won’t real estate agents/brokers offer those options? My accountant charges me for the time he spends, not the amount of my income or return. I have no question that agents can provide a service. It’s just that in many cases I believe they are overcompensated. I know that they are also under compensated when a buyer looks at a hundred houses and never buys, or a seller prices too high to attract buyers. But if those same buyers and sellers had to pay their agents for their time, they might be more practical in terms of what they asked of their agents.

Interestingly, interior decorators generally doesn’t offer an option for hourly payment either. I think people get caught up in the image that their home presents, and their emotions cause them to pay more than they should. Which is another possible explanation for the prevalence of women in both fields.

[njtosd]

[quote=justme]
. . .There is no way that siphoning off 6% of each transaction will get either buyer or seller as good a deal as they otherwise would have. . . .

.[/quote]

I guess the basic question is this – most professionals bill on an hourly basis. Sometimes, a flat fee is arranged. Why won’t real estate agents/brokers offer those options? My accountant charges me for the time he spends, not the amount of my income or return. I have no question that agents can provide a service. It’s just that in many cases I believe they are overcompensated. I know that they are also under compensated when a buyer looks at a hundred houses and never buys, or a seller prices too high to attract buyers. But if those same buyers and sellers had to pay their agents for their time, they might be more practical in terms of what they asked of their agents.

Interestingly, interior decorators generally doesn’t offer an option for hourly payment either. I think people get caught up in the image that their home presents, and their emotions cause them to pay more than they should. Which is another possible explanation for the prevalence of women in both fields.

[njtosd]

[quote=justme]
. . .There is no way that siphoning off 6% of each transaction will get either buyer or seller as good a deal as they otherwise would have. . . .

.[/quote]

I guess the basic question is this – most professionals bill on an hourly basis. Sometimes, a flat fee is arranged. Why won’t real estate agents/brokers offer those options? My accountant charges me for the time he spends, not the amount of my income or return. I have no question that agents can provide a service. It’s just that in many cases I believe they are overcompensated. I know that they are also under compensated when a buyer looks at a hundred houses and never buys, or a seller prices too high to attract buyers. But if those same buyers and sellers had to pay their agents for their time, they might be more practical in terms of what they asked of their agents.

Interestingly, interior decorators generally doesn’t offer an option for hourly payment either. I think people get caught up in the image that their home presents, and their emotions cause them to pay more than they should. Which is another possible explanation for the prevalence of women in both fields.

[njtosd]

[quote=justme]
. . .There is no way that siphoning off 6% of each transaction will get either buyer or seller as good a deal as they otherwise would have. . . .

.[/quote]

I guess the basic question is this – most professionals bill on an hourly basis. Sometimes, a flat fee is arranged. Why won’t real estate agents/brokers offer those options? My accountant charges me for the time he spends, not the amount of my income or return. I have no question that agents can provide a service. It’s just that in many cases I believe they are overcompensated. I know that they are also under compensated when a buyer looks at a hundred houses and never buys, or a seller prices too high to attract buyers. But if those same buyers and sellers had to pay their agents for their time, they might be more practical in terms of what they asked of their agents.

Interestingly, interior decorators generally doesn’t offer an option for hourly payment either. I think people get caught up in the image that their home presents, and their emotions cause them to pay more than they should. Which is another possible explanation for the prevalence of women in both fields.

[njtosd]

[quote=justme]
. . .There is no way that siphoning off 6% of each transaction will get either buyer or seller as good a deal as they otherwise would have. . . .

.[/quote]

I guess the basic question is this – most professionals bill on an hourly basis. Sometimes, a flat fee is arranged. Why won’t real estate agents/brokers offer those options? My accountant charges me for the time he spends, not the amount of my income or return. I have no question that agents can provide a service. It’s just that in many cases I believe they are overcompensated. I know that they are also under compensated when a buyer looks at a hundred houses and never buys, or a seller prices too high to attract buyers. But if those same buyers and sellers had to pay their agents for their time, they might be more practical in terms of what they asked of their agents.

Interestingly, interior decorators generally doesn’t offer an option for hourly payment either. I think people get caught up in the image that their home presents, and their emotions cause them to pay more than they should. Which is another possible explanation for the prevalence of women in both fields.

[sdrealtor]

BG,
Just so ya know. Russell is also a part time agent. Before he jumps in, I’ll point out that there are ways to be in the RE business on a peripheral basis that are much cheaper.

You do bring up a good point about all the whining that goes on about RE agents from people who contribute to the problem. The model that we have is there because for better or worse it works. Without a system like we have the rich would slaughter the poor. The Irvine Companies of the world would continue the thuggery they employed to steal land from long time owners. If anyone offered to pay me for my work on an hourly basis, I would jump at the opportunity as I beleive my income could easily double for the work I put in if paid on an hourly basis. Of course, anyone who paid on an hourly basis would quickly realize what a raw deal it was in comparison and ask to go back to the old system.

Edit: Ironically I was typing this up while nj was asking about hourly services. I would gladly accept that arrangement.

Also flat fee services have been widely available for years with HelpUsell, assit2sell etc. Theya re easy to find also. Just pop by a local strip shopping center and look for the remains of their now closed business because the business model doesnt work.

How about the discount model you ask? Remember Ipayone which was backed by some of the wealthiest individuals in SD? They offered 1% listings and I said they would be gone in a year or 2 at most because that model couldnt work either. How long did it take for that flawed business model to implode?

[sdrealtor]

BG,
Just so ya know. Russell is also a part time agent. Before he jumps in, I’ll point out that there are ways to be in the RE business on a peripheral basis that are much cheaper.

You do bring up a good point about all the whining that goes on about RE agents from people who contribute to the problem. The model that we have is there because for better or worse it works. Without a system like we have the rich would slaughter the poor. The Irvine Companies of the world would continue the thuggery they employed to steal land from long time owners. If anyone offered to pay me for my work on an hourly basis, I would jump at the opportunity as I beleive my income could easily double for the work I put in if paid on an hourly basis. Of course, anyone who paid on an hourly basis would quickly realize what a raw deal it was in comparison and ask to go back to the old system.

Edit: Ironically I was typing this up while nj was asking about hourly services. I would gladly accept that arrangement.

Also flat fee services have been widely available for years with HelpUsell, assit2sell etc. Theya re easy to find also. Just pop by a local strip shopping center and look for the remains of their now closed business because the business model doesnt work.

How about the discount model you ask? Remember Ipayone which was backed by some of the wealthiest individuals in SD? They offered 1% listings and I said they would be gone in a year or 2 at most because that model couldnt work either. How long did it take for that flawed business model to implode?

[sdrealtor]

BG,
Just so ya know. Russell is also a part time agent. Before he jumps in, I’ll point out that there are ways to be in the RE business on a peripheral basis that are much cheaper.

You do bring up a good point about all the whining that goes on about RE agents from people who contribute to the problem. The model that we have is there because for better or worse it works. Without a system like we have the rich would slaughter the poor. The Irvine Companies of the world would continue the thuggery they employed to steal land from long time owners. If anyone offered to pay me for my work on an hourly basis, I would jump at the opportunity as I beleive my income could easily double for the work I put in if paid on an hourly basis. Of course, anyone who paid on an hourly basis would quickly realize what a raw deal it was in comparison and ask to go back to the old system.

Edit: Ironically I was typing this up while nj was asking about hourly services. I would gladly accept that arrangement.

Also flat fee services have been widely available for years with HelpUsell, assit2sell etc. Theya re easy to find also. Just pop by a local strip shopping center and look for the remains of their now closed business because the business model doesnt work.

How about the discount model you ask? Remember Ipayone which was backed by some of the wealthiest individuals in SD? They offered 1% listings and I said they would be gone in a year or 2 at most because that model couldnt work either. How long did it take for that flawed business model to implode?

[sdrealtor]

BG,
Just so ya know. Russell is also a part time agent. Before he jumps in, I’ll point out that there are ways to be in the RE business on a peripheral basis that are much cheaper.

You do bring up a good point about all the whining that goes on about RE agents from people who contribute to the problem. The model that we have is there because for better or worse it works. Without a system like we have the rich would slaughter the poor. The Irvine Companies of the world would continue the thuggery they employed to steal land from long time owners. If anyone offered to pay me for my work on an hourly basis, I would jump at the opportunity as I beleive my income could easily double for the work I put in if paid on an hourly basis. Of course, anyone who paid on an hourly basis would quickly realize what a raw deal it was in comparison and ask to go back to the old system.

Edit: Ironically I was typing this up while nj was asking about hourly services. I would gladly accept that arrangement.

Also flat fee services have been widely available for years with HelpUsell, assit2sell etc. Theya re easy to find also. Just pop by a local strip shopping center and look for the remains of their now closed business because the business model doesnt work.

How about the discount model you ask? Remember Ipayone which was backed by some of the wealthiest individuals in SD? They offered 1% listings and I said they would be gone in a year or 2 at most because that model couldnt work either. How long did it take for that flawed business model to implode?

[Author]

Posts