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December 11, 2008 at 9:16 AM in reply to: Would you use a real estate broker or a real estate agent? #314202
sdrealtor
ParticipantIf you work with a discount agent they should be getting nearly all of the commission dollars any way so there shouldnt be much of a difference. Agents with large brokerages typically keep any where from 50% to 80% of the gross commissions while most agents at discount houses should be getting about 90%. The difference between the agent and the broker take is going to be in the neighborhood of $1,000 in most cases. I would focus on the actual skills of the person which should easily make a much bigger difference that a few hundred dollars extra that you might get back. If that’s a broker/owner, thats great if it’s not its OK also. I wouldnt use that as a decision point.
December 11, 2008 at 9:16 AM in reply to: Would you use a real estate broker or a real estate agent? #314560sdrealtor
ParticipantIf you work with a discount agent they should be getting nearly all of the commission dollars any way so there shouldnt be much of a difference. Agents with large brokerages typically keep any where from 50% to 80% of the gross commissions while most agents at discount houses should be getting about 90%. The difference between the agent and the broker take is going to be in the neighborhood of $1,000 in most cases. I would focus on the actual skills of the person which should easily make a much bigger difference that a few hundred dollars extra that you might get back. If that’s a broker/owner, thats great if it’s not its OK also. I wouldnt use that as a decision point.
December 11, 2008 at 9:16 AM in reply to: Would you use a real estate broker or a real estate agent? #314591sdrealtor
ParticipantIf you work with a discount agent they should be getting nearly all of the commission dollars any way so there shouldnt be much of a difference. Agents with large brokerages typically keep any where from 50% to 80% of the gross commissions while most agents at discount houses should be getting about 90%. The difference between the agent and the broker take is going to be in the neighborhood of $1,000 in most cases. I would focus on the actual skills of the person which should easily make a much bigger difference that a few hundred dollars extra that you might get back. If that’s a broker/owner, thats great if it’s not its OK also. I wouldnt use that as a decision point.
December 11, 2008 at 9:16 AM in reply to: Would you use a real estate broker or a real estate agent? #314613sdrealtor
ParticipantIf you work with a discount agent they should be getting nearly all of the commission dollars any way so there shouldnt be much of a difference. Agents with large brokerages typically keep any where from 50% to 80% of the gross commissions while most agents at discount houses should be getting about 90%. The difference between the agent and the broker take is going to be in the neighborhood of $1,000 in most cases. I would focus on the actual skills of the person which should easily make a much bigger difference that a few hundred dollars extra that you might get back. If that’s a broker/owner, thats great if it’s not its OK also. I wouldnt use that as a decision point.
December 11, 2008 at 9:16 AM in reply to: Would you use a real estate broker or a real estate agent? #314685sdrealtor
ParticipantIf you work with a discount agent they should be getting nearly all of the commission dollars any way so there shouldnt be much of a difference. Agents with large brokerages typically keep any where from 50% to 80% of the gross commissions while most agents at discount houses should be getting about 90%. The difference between the agent and the broker take is going to be in the neighborhood of $1,000 in most cases. I would focus on the actual skills of the person which should easily make a much bigger difference that a few hundred dollars extra that you might get back. If that’s a broker/owner, thats great if it’s not its OK also. I wouldnt use that as a decision point.
December 9, 2008 at 11:01 AM in reply to: Can you sell your house as a short sale if you can still make the mortgage payment? #313335sdrealtor
ParticipantThe short seller is typically under some hardship and doesnt want to or cant stay in the home. The current lender has the surety of getting a distressed loan off their books. A new owner comes in at a lower price and hopefully with a well underwritten loan they can afford.
That is the difference.
December 9, 2008 at 11:01 AM in reply to: Can you sell your house as a short sale if you can still make the mortgage payment? #313690sdrealtor
ParticipantThe short seller is typically under some hardship and doesnt want to or cant stay in the home. The current lender has the surety of getting a distressed loan off their books. A new owner comes in at a lower price and hopefully with a well underwritten loan they can afford.
That is the difference.
December 9, 2008 at 11:01 AM in reply to: Can you sell your house as a short sale if you can still make the mortgage payment? #313722sdrealtor
ParticipantThe short seller is typically under some hardship and doesnt want to or cant stay in the home. The current lender has the surety of getting a distressed loan off their books. A new owner comes in at a lower price and hopefully with a well underwritten loan they can afford.
That is the difference.
December 9, 2008 at 11:01 AM in reply to: Can you sell your house as a short sale if you can still make the mortgage payment? #313743sdrealtor
ParticipantThe short seller is typically under some hardship and doesnt want to or cant stay in the home. The current lender has the surety of getting a distressed loan off their books. A new owner comes in at a lower price and hopefully with a well underwritten loan they can afford.
That is the difference.
December 9, 2008 at 11:01 AM in reply to: Can you sell your house as a short sale if you can still make the mortgage payment? #313814sdrealtor
ParticipantThe short seller is typically under some hardship and doesnt want to or cant stay in the home. The current lender has the surety of getting a distressed loan off their books. A new owner comes in at a lower price and hopefully with a well underwritten loan they can afford.
That is the difference.
December 8, 2008 at 11:21 PM in reply to: Can you sell your house as a short sale if you can still make the mortgage payment? #313188sdrealtor
ParticipantSpeaking of competence, he comes a rant. I have a client that has been trying to buy a home from one of the top most “competent” agents at one of the major brokerages RSF office. This guy is such a blowhard. He has listed about 20 properties over the last 2 years (mostly $2M or more). He has actually sold 1 of his listings which was priced about $250,000. In over 2 years he has failed everyone of his cleitns miserably!!
I sent him a cover letter last year with an all cash offer of nearly $2M on a property he had and still has listed which told him exactly what would happen if they did not take the offer. I just re-read it for the first tiem and it was amazing prescient if I do say so myself.
They sent it back with rejected in red ink written on it. In the last 12 months they have invested an additonal $150K improving the property, paid over $20K in RE taxes and serviced $1.5M of debt while the property is now worth less than we offered 1 year ago. By my calculations, this competent jackass has cost his clients over $500,000 because they wont take anything under $2M. In antohter few years they will probably get that $2M. That is after spending another $500K carrying the property and losing about $1M. The punchline to it all is that the owner is a retired Wall Street exec who sells videos about how you should downsize and simply your lifestyle. They deserve each other.
December 8, 2008 at 11:21 PM in reply to: Can you sell your house as a short sale if you can still make the mortgage payment? #313545sdrealtor
ParticipantSpeaking of competence, he comes a rant. I have a client that has been trying to buy a home from one of the top most “competent” agents at one of the major brokerages RSF office. This guy is such a blowhard. He has listed about 20 properties over the last 2 years (mostly $2M or more). He has actually sold 1 of his listings which was priced about $250,000. In over 2 years he has failed everyone of his cleitns miserably!!
I sent him a cover letter last year with an all cash offer of nearly $2M on a property he had and still has listed which told him exactly what would happen if they did not take the offer. I just re-read it for the first tiem and it was amazing prescient if I do say so myself.
They sent it back with rejected in red ink written on it. In the last 12 months they have invested an additonal $150K improving the property, paid over $20K in RE taxes and serviced $1.5M of debt while the property is now worth less than we offered 1 year ago. By my calculations, this competent jackass has cost his clients over $500,000 because they wont take anything under $2M. In antohter few years they will probably get that $2M. That is after spending another $500K carrying the property and losing about $1M. The punchline to it all is that the owner is a retired Wall Street exec who sells videos about how you should downsize and simply your lifestyle. They deserve each other.
December 8, 2008 at 11:21 PM in reply to: Can you sell your house as a short sale if you can still make the mortgage payment? #313576sdrealtor
ParticipantSpeaking of competence, he comes a rant. I have a client that has been trying to buy a home from one of the top most “competent” agents at one of the major brokerages RSF office. This guy is such a blowhard. He has listed about 20 properties over the last 2 years (mostly $2M or more). He has actually sold 1 of his listings which was priced about $250,000. In over 2 years he has failed everyone of his cleitns miserably!!
I sent him a cover letter last year with an all cash offer of nearly $2M on a property he had and still has listed which told him exactly what would happen if they did not take the offer. I just re-read it for the first tiem and it was amazing prescient if I do say so myself.
They sent it back with rejected in red ink written on it. In the last 12 months they have invested an additonal $150K improving the property, paid over $20K in RE taxes and serviced $1.5M of debt while the property is now worth less than we offered 1 year ago. By my calculations, this competent jackass has cost his clients over $500,000 because they wont take anything under $2M. In antohter few years they will probably get that $2M. That is after spending another $500K carrying the property and losing about $1M. The punchline to it all is that the owner is a retired Wall Street exec who sells videos about how you should downsize and simply your lifestyle. They deserve each other.
December 8, 2008 at 11:21 PM in reply to: Can you sell your house as a short sale if you can still make the mortgage payment? #313598sdrealtor
ParticipantSpeaking of competence, he comes a rant. I have a client that has been trying to buy a home from one of the top most “competent” agents at one of the major brokerages RSF office. This guy is such a blowhard. He has listed about 20 properties over the last 2 years (mostly $2M or more). He has actually sold 1 of his listings which was priced about $250,000. In over 2 years he has failed everyone of his cleitns miserably!!
I sent him a cover letter last year with an all cash offer of nearly $2M on a property he had and still has listed which told him exactly what would happen if they did not take the offer. I just re-read it for the first tiem and it was amazing prescient if I do say so myself.
They sent it back with rejected in red ink written on it. In the last 12 months they have invested an additonal $150K improving the property, paid over $20K in RE taxes and serviced $1.5M of debt while the property is now worth less than we offered 1 year ago. By my calculations, this competent jackass has cost his clients over $500,000 because they wont take anything under $2M. In antohter few years they will probably get that $2M. That is after spending another $500K carrying the property and losing about $1M. The punchline to it all is that the owner is a retired Wall Street exec who sells videos about how you should downsize and simply your lifestyle. They deserve each other.
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