Forum Replies Created
-
AuthorPosts
-
SD Realtor
Participantbuyorhold –
Personally I advise sellers to consider advertising a competitive commission for the selling agent, (buyers agent). We sit down TOGETHER and I pull up all of the comps in that area, be it complex, subdivision or zip code, and we break down the co-op commission. In every case we DO NOT find a correlation between the HIGHEST commission paid to the selling agent, and the number of sold properties. We always do find that the combination of price, and quality of the listing is what sells the home. So in a given situation of say 25 homes, if the breakdown is 13 have 2.5%, 11 of them have 3% and 2 of them have 3.5% AND the home is good condition then I will recommend the 2.5%. Other agents may disagree with this but in my studies I have found that the raw data does not back up the bias.
Have your agent give you this breakdown. That may help.
*******
I am a bit puzzled by your description. So when did you sign the listing agreement? When you signed didn’t your agent give you a timeline of events? Like when the pictures would be ordered, the sign installed, the flyers done etc? Also I am confused about your commission structure. On the Residential listing agreement there are 2 sections where the commission is discussed. The first section is for the compensation to the listing agent. So what was the commission specified here? Was it 3%? Then later down on the page is where the selling agent coop commission is specified. What did you specify in this section?
I will tell you this… For an agent to play with the commission after you have signed the listing agreement is very unprofessional.
Sounds like you are paying for “full service” and you are not really getting the full service treatment.
SD Realtor
Participantaguho I (and most everyone else here) would absolutely agree that there seem to be a very high number of realtors and brokers who have lost homes due to foreclosure. No need for me to look at the stats as I see them all the time.
“I still believe that most realtors are absolutely incompetent, and if they cannot manage their own personal financial affairs,how on earth can one believe that they actually have their clients best interests in mind.
I do know a few excellent realtors and I’m sure there are some on this board.However, it would probably be a good idea to purge about 90 % of the people who have real estate licences….”
Well, I cannot argue with that. I don’t think you will have to worry though as the market will take care of itself and cleanse them out.
SD Realtor
Participantaguho I (and most everyone else here) would absolutely agree that there seem to be a very high number of realtors and brokers who have lost homes due to foreclosure. No need for me to look at the stats as I see them all the time.
“I still believe that most realtors are absolutely incompetent, and if they cannot manage their own personal financial affairs,how on earth can one believe that they actually have their clients best interests in mind.
I do know a few excellent realtors and I’m sure there are some on this board.However, it would probably be a good idea to purge about 90 % of the people who have real estate licences….”
Well, I cannot argue with that. I don’t think you will have to worry though as the market will take care of itself and cleanse them out.
SD Realtor
Participantaguho I (and most everyone else here) would absolutely agree that there seem to be a very high number of realtors and brokers who have lost homes due to foreclosure. No need for me to look at the stats as I see them all the time.
“I still believe that most realtors are absolutely incompetent, and if they cannot manage their own personal financial affairs,how on earth can one believe that they actually have their clients best interests in mind.
I do know a few excellent realtors and I’m sure there are some on this board.However, it would probably be a good idea to purge about 90 % of the people who have real estate licences….”
Well, I cannot argue with that. I don’t think you will have to worry though as the market will take care of itself and cleanse them out.
SD Realtor
ParticipantYep that is something that most people never seem to grasp. I bet that out of everyone here that has cash in a moneymarket, about 0% of us actually know what investments that moneymarket is composed of. Myself included. By the nature of the return the moneymarket gives, there must be some components of every moneymarket fund that is riskier and some that are not risky at all.
If you want to find out exactly what composition your money market has, call your provider and ask. While money markets are low risk, they are not FDIC insured.
I would agree with Andy, the level of exposure is probably small… each institution has a different composure.
SD Realtor
ParticipantYep that is something that most people never seem to grasp. I bet that out of everyone here that has cash in a moneymarket, about 0% of us actually know what investments that moneymarket is composed of. Myself included. By the nature of the return the moneymarket gives, there must be some components of every moneymarket fund that is riskier and some that are not risky at all.
If you want to find out exactly what composition your money market has, call your provider and ask. While money markets are low risk, they are not FDIC insured.
I would agree with Andy, the level of exposure is probably small… each institution has a different composure.
SD Realtor
ParticipantYep that is something that most people never seem to grasp. I bet that out of everyone here that has cash in a moneymarket, about 0% of us actually know what investments that moneymarket is composed of. Myself included. By the nature of the return the moneymarket gives, there must be some components of every moneymarket fund that is riskier and some that are not risky at all.
If you want to find out exactly what composition your money market has, call your provider and ask. While money markets are low risk, they are not FDIC insured.
I would agree with Andy, the level of exposure is probably small… each institution has a different composure.
SD Realtor
ParticipantFSD I am really bad at this but I believe the ABX indicators are as follows…
The rating of the security is on the left… The numbers on the far right are at least to me the most telling. Look at the last 3 entries of the first row for instance….
90.63 99.33 90.63
So I believe the 90.63 represents the last bid and ask for that particular security. (Someone please correct me as I am way over my head here)
If you look at some of the BBB securities you see that there are some SERIOUSLY low entries, one as low as 35.14.
I am just an engineer/realtor so sorry for not being able to explain this better.
SD Realtor
ParticipantFSD I am really bad at this but I believe the ABX indicators are as follows…
The rating of the security is on the left… The numbers on the far right are at least to me the most telling. Look at the last 3 entries of the first row for instance….
90.63 99.33 90.63
So I believe the 90.63 represents the last bid and ask for that particular security. (Someone please correct me as I am way over my head here)
If you look at some of the BBB securities you see that there are some SERIOUSLY low entries, one as low as 35.14.
I am just an engineer/realtor so sorry for not being able to explain this better.
SD Realtor
ParticipantFSD I am really bad at this but I believe the ABX indicators are as follows…
The rating of the security is on the left… The numbers on the far right are at least to me the most telling. Look at the last 3 entries of the first row for instance….
90.63 99.33 90.63
So I believe the 90.63 represents the last bid and ask for that particular security. (Someone please correct me as I am way over my head here)
If you look at some of the BBB securities you see that there are some SERIOUSLY low entries, one as low as 35.14.
I am just an engineer/realtor so sorry for not being able to explain this better.
SD Realtor
ParticipantWill do HWG…
As a side note, the monitor that I post (Scripps and a few other zips) as well as the sdr Carmel Valley Monitor all have enough stats in them for some nice analysis. It is simply a matter of somebody taking the raw data and plotting it out. You can get great active pending ratio’s and other stuff that when read weekly is not much to look at but when plotted over several months will yield really useful information.
As a second side note yesterday I was showing homes to a client in Clairemont. Lots of well attended open houses. I peeked at 4 different logs from homes we visited and the numbers 8, 11, 12, and 11 which is not bad for an open house. How serious those people were is another story. Also the two open houses on Reisling near my home in Scripps seemed to have more activity then usual. However I have no clue about the quality of the activity.
SD Realtor
ParticipantWill do HWG…
As a side note, the monitor that I post (Scripps and a few other zips) as well as the sdr Carmel Valley Monitor all have enough stats in them for some nice analysis. It is simply a matter of somebody taking the raw data and plotting it out. You can get great active pending ratio’s and other stuff that when read weekly is not much to look at but when plotted over several months will yield really useful information.
As a second side note yesterday I was showing homes to a client in Clairemont. Lots of well attended open houses. I peeked at 4 different logs from homes we visited and the numbers 8, 11, 12, and 11 which is not bad for an open house. How serious those people were is another story. Also the two open houses on Reisling near my home in Scripps seemed to have more activity then usual. However I have no clue about the quality of the activity.
SD Realtor
ParticipantWill do HWG…
As a side note, the monitor that I post (Scripps and a few other zips) as well as the sdr Carmel Valley Monitor all have enough stats in them for some nice analysis. It is simply a matter of somebody taking the raw data and plotting it out. You can get great active pending ratio’s and other stuff that when read weekly is not much to look at but when plotted over several months will yield really useful information.
As a second side note yesterday I was showing homes to a client in Clairemont. Lots of well attended open houses. I peeked at 4 different logs from homes we visited and the numbers 8, 11, 12, and 11 which is not bad for an open house. How serious those people were is another story. Also the two open houses on Reisling near my home in Scripps seemed to have more activity then usual. However I have no clue about the quality of the activity.
SD Realtor
ParticipantUnfortunately this is not new news, though it does irritate lots of us.
Realistically though I am not so sure this will affect housing prices here in San Diego, especially in the areas that are more desireable. Percentage wise if they knock the conforming limit up 20% that pushes things up to the low 500’s… I doubt that would affect us here much but yes it would help nationally.
SD Realtor
-
AuthorPosts
