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Morning Briefing: Most sellers get a discount from real estate agents

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Mortgage Professional America | 11 Aug 2016, 05:55 AM Agree 0
Most sellers get a discount from real estate agents… Home prices remain strong says NAR… Mortgage apps up 7 per cent…
  • Sarah | | 11 Aug 2016, 08:07 AM Agree 0
    Redfin of course has to create a survey such as this because discounting is the way they survive. You get what you pay for.

    There is no such thing as standard commission, so there are so many things wrong with this survey and article.

    I see most discount brokers such as Redfin and Redefyne listings expire because it's not much more than a sign in the yard, usually priced incorrectly, and not marketed like a professional would.

    Again, you get what you pay for. As a professional, I do not "discount" my services nor do I need to. There is value in the services I provide my clients and they happy with the results.
  • 30 year veteran in Real Estate | | 11 Aug 2016, 10:00 AM Agree 0
    Well Said!!!!!
  • SGC | | 11 Aug 2016, 10:08 AM Agree 0
    I find this article totally inappropriate to be a feature article in MPA! Shall we highlight an article about Loan Officers discounting their rates?
    Biting the hand that feeds you so to say. There is something wrong with encouraging the public to push for discounted commissions with Full Service Realtors!
  • gh | | 11 Aug 2016, 08:20 PM Agree 0
    Sarah said it best
  • KAS | | 19 Aug 2016, 06:37 PM Agree 0
    Redfin is a good place to search for homes. But the featured article had no substance. A chart/trending is only as good as the information put into it. And the chart/trending can often be self serving. In my opinion the article serves Redfin but not the populace.
    The article says 'most sellers get discounts from real estate agents' but should not the accurate statement be 'sellers get discounts from Renfin real estate agents'! Case in point about self serving statement.

    Marketing homes is competitive and the listing commission always negotiable. Brokers, agents are not heels. Sometimes the fee is reduced in an effort to help the seller who is short on equity but needs to sell. Occasionally there are other situations that may arise. And sure the buyer has access on line to find their home. But personally, I do not believe that the Redfin agent is trained all around. It is more than showing a home, and filling in the blanks! And certainly the buyer can find their home through the internet and the various open houses.
    So what...they do not have themselves protected.

    But, I do not recommend making a habit of it of reducing your fee. As brokers, agents we are paid for our knowledge, ethics, professionalism, experience AND because of these assets, it is the broker, agents that keep transactions from going south and out of court. The buyer, seller is much better protected because of real estate agents and the fee is nothing compared to a lawsuit.

    Doesn't this advice fall in the same vain as 'do not be your own lawyer' or 'heal thyself' or how about 'buyer (seller) beware'...

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