The Internet may not have had the impact we all thought it would on housing

[5yearwaiter]

[quote=sdrealtor][quote=5yearwaiter]Though we are in very advanced internet era – I surprised to see – A unnecessary dominent role of realtor involvement (6% commission) and a lot mortgage closing costs. If anyone take a close look at these these are really waste and unwanted costs that are deviating the current housing trends. Why not streamline much these and naildown those costs to simply near to 1% or 2%? I wish to take the full advantage of internet and stream line several actions in the realestate market not only listing and data but also naildown the lot extra money trasnfer.

A realtor :- Just open the lock and tour the house and throw the 14 pages offer after we signed.

Escrow:- Almost 10K plus closing costs.

My thoughts appear to be bit ruide but still I believe we are not yet taken full advantage of internet. The funny thing is today if you refinance the same house with same lender still you need to ponder a lot money for same title with the same lender – but why ? where is the work that involved that much money to submit after all refinance with in the same lender with same data.[/quote]

Sorry but I got to break my own rule and respond to this one. In one breathe we’ll talk about how this is the biggest transaction of our lives and how can people be so stupid/uninformed. Then in the next breathe comment that “Just open the lock and tour the house and throw the 14 pages offer after we signed”. You are not buying a loaf of bread. These can be very complex transactions. It is impossible to appreciate this unless you have been involved with dozens of them over many years. Are some of them simple? Absolutely though I havent seen a simple one in a couple years. You just dont know what is coming down the pike until you are knee deep in it.

Last year I took some listings up in the Temecula area. I wont take them anymore because the calibur of agent up there has been abysmal from my experience. I know they must exist but I have yet to meet a competent agent in that market. Frankly I dont understand how houses get sold up there when no one knows what they are doing. Extrapolating that to consumers handling their own transactions is even worse. Call me crazy but I dont see that as a viable answer.[/quote]

Well if real internet advantage had been taken then whatever amount of contributions you rendered in that Temecula area would have been streamlined by internet too – and then everyone get the same choice to know the facts. When first internet sales started it wasn’t made firm rules but now everything through internet you can get. Now “there are rules”, “there are voices” and reviews. I can gurantee no one can run or escape when everything exposed to everybody. I am not saying to eliminate realtor but saying stream line many things via a correct process including realtors are part of it and also that has some embedded rules then you see how easy those sales and as well those refinancing of mortgage. Sure it is going to be easy to know the facts on the listed houses instead lingering on various databanks to seek and knock. I assume with the vested interests only this housing is not really standardized with internet standards – though there are fair amount of chances exist.

[sdrealtor]

I agree that there are alot of things the Internet can do to improve the process and reduce some costs. For example, i have always felt that title insurance is one of the areas consumers get taken for a ride on. I actually found a SD Company that put all the title insurance state filed rates on the internet and allows for comparison shopping. It is illegal for them to go below those rates but it is difficult to get those best rates unless you know what they are and ask for them. I always do now and typically save my clients about 30% on their title insurance premiums.

The problem with Internetizing RE transactions is that everyone is diferent and there tends to be a ton of conflict resolution/troubleshooting that rules cant account for. There are lots of emotions involved and principals often stand on ceremony over a couple hundred dollars to their own detriment.

[sdrealtor]

I agree that there are alot of things the Internet can do to improve the process and reduce some costs. For example, i have always felt that title insurance is one of the areas consumers get taken for a ride on. I actually found a SD Company that put all the title insurance state filed rates on the internet and allows for comparison shopping. It is illegal for them to go below those rates but it is difficult to get those best rates unless you know what they are and ask for them. I always do now and typically save my clients about 30% on their title insurance premiums.

The problem with Internetizing RE transactions is that everyone is diferent and there tends to be a ton of conflict resolution/troubleshooting that rules cant account for. There are lots of emotions involved and principals often stand on ceremony over a couple hundred dollars to their own detriment.

[sdrealtor]

I agree that there are alot of things the Internet can do to improve the process and reduce some costs. For example, i have always felt that title insurance is one of the areas consumers get taken for a ride on. I actually found a SD Company that put all the title insurance state filed rates on the internet and allows for comparison shopping. It is illegal for them to go below those rates but it is difficult to get those best rates unless you know what they are and ask for them. I always do now and typically save my clients about 30% on their title insurance premiums.

The problem with Internetizing RE transactions is that everyone is diferent and there tends to be a ton of conflict resolution/troubleshooting that rules cant account for. There are lots of emotions involved and principals often stand on ceremony over a couple hundred dollars to their own detriment.

[sdrealtor]

I agree that there are alot of things the Internet can do to improve the process and reduce some costs. For example, i have always felt that title insurance is one of the areas consumers get taken for a ride on. I actually found a SD Company that put all the title insurance state filed rates on the internet and allows for comparison shopping. It is illegal for them to go below those rates but it is difficult to get those best rates unless you know what they are and ask for them. I always do now and typically save my clients about 30% on their title insurance premiums.

The problem with Internetizing RE transactions is that everyone is diferent and there tends to be a ton of conflict resolution/troubleshooting that rules cant account for. There are lots of emotions involved and principals often stand on ceremony over a couple hundred dollars to their own detriment.

[sdrealtor]

I agree that there are alot of things the Internet can do to improve the process and reduce some costs. For example, i have always felt that title insurance is one of the areas consumers get taken for a ride on. I actually found a SD Company that put all the title insurance state filed rates on the internet and allows for comparison shopping. It is illegal for them to go below those rates but it is difficult to get those best rates unless you know what they are and ask for them. I always do now and typically save my clients about 30% on their title insurance premiums.

The problem with Internetizing RE transactions is that everyone is diferent and there tends to be a ton of conflict resolution/troubleshooting that rules cant account for. There are lots of emotions involved and principals often stand on ceremony over a couple hundred dollars to their own detriment.

[sdduuuude]

[quote=sdrealtor]Didnt realize it was such a large plunge.[/quote]

Fair enough – in your zips.

Still, the point is – the hypothesis was that the availability of the internet information would affect the speed of corrections in either direction, not the level to which things correct.

[sdduuuude]

[quote=sdrealtor]Didnt realize it was such a large plunge.[/quote]

Fair enough – in your zips.

Still, the point is – the hypothesis was that the availability of the internet information would affect the speed of corrections in either direction, not the level to which things correct.

[sdduuuude]

[quote=sdrealtor]Didnt realize it was such a large plunge.[/quote]

Fair enough – in your zips.

Still, the point is – the hypothesis was that the availability of the internet information would affect the speed of corrections in either direction, not the level to which things correct.

[sdduuuude]

[quote=sdrealtor]Didnt realize it was such a large plunge.[/quote]

Fair enough – in your zips.

Still, the point is – the hypothesis was that the availability of the internet information would affect the speed of corrections in either direction, not the level to which things correct.

[sdduuuude]

[quote=sdrealtor]Didnt realize it was such a large plunge.[/quote]

Fair enough – in your zips.

Still, the point is – the hypothesis was that the availability of the internet information would affect the speed of corrections in either direction, not the level to which things correct.

[sdrealtor]

I was just kidding anyway;)

[sdrealtor]

I was just kidding anyway;)

[sdrealtor]

I was just kidding anyway;)

[sdrealtor]

I was just kidding anyway;)

[Author]

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