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Posted
9 hours ago, 52-80 said:

Wondering what you guys would do in this situation:

A few years ago I enlisted an agent to rent out my house. He found my current tenant. The first time I raised the rent, the tenant proactively offered to buy my house (at a low-ball price). We declined and just extended the lease. Last year, I told him I am extending lease for the final time and would sell the house afterwards; he made no indication of interest to buy. 

Recently I talked to the agent to ask about selling the house. We shook hands on him putting it on the market this summer when the lease ends. He said he would also ask the tenant if hes interested (or if he needs help looking for a property).  

….well now the tenant just got back to me directly, saying he wants to buy the house directly (at a very fair price). and suggested the agent doesnt need to be involved to save cost. 

The standard procedure in this market is 3.6% agents fee payable by the buyer. Its completely true that agent is not doing anything here - no listing, hosting, etc. But I feel obligated to him out of a sense of ethics.

I’m thinking if we skip him out of the process, I buy the guy an Omega watch or something as a ‘serious’ business gift? Is that fair? 

 

You shook on the deal.  What's your word worth to you?   Any reasonable agent knows that you can 100% not pay him a dime and get away with it, but, what's your word worth to you?

3 hours ago, royiv said:

The fact that this is unusual enough that you came here to post about it is exactly why realtors get a bad name. Every time I’ve sold a house, I’ve never let the listing agent put it on lockbox and I require that they are present at every showing. If I’m paying you $50k to sell my home, you need to do your job. Marketing a home shouldn’t be putting pictures up on MLS, hanging a lockbox and putting a sign in the yard.

Now, do the math when the commission is $6,000 instead of $50,000.  Do you expect the same level of service?  

Who gives the better blowjob...the hooker that you meet at the bar at The Bellagio that charges $500, or the one that you pick up on the corner in the ghetto that charges $20? 

Posted
27 minutes ago, Gil Bang said:

You shook on the deal.  What's your word worth to you?   Any reasonable agent knows that you can 100% not pay him a dime and get away with it, but, what's your word worth to you?

Now, do the math when the commission is $6,000 instead of $50,000.  Do you expect the same level of service?  

Who gives the better blowjob...the hooker that you meet at the bar at The Bellagio that charges $500, or the one that you pick up on the corner in the ghetto that charges $20? 

You should direct that question to Hugh Grant.

  • Haha 1
Posted
43 minutes ago, Gil Bang said:

You shook on the deal.  What's your word worth to you?   Any reasonable agent knows that you can 100% not pay him a dime and get away with it, but, what's your word worth to you?

Now, do the math when the commission is $6,000 instead of $50,000.  Do you expect the same level of service?  

Who gives the better blowjob...the hooker that you meet at the bar at The Bellagio that charges $500, or the one that you pick up on the corner in the ghetto that charges $20? 

Well from an experience standpoint... you have to go with the $20 service provider. 

Posted
1 hour ago, Gil Bang said:

You shook on the deal.  What's your word worth to you?   Any reasonable agent knows that you can 100% not pay him a dime and get away with it, but, what's your word worth to you?

Now, do the math when the commission is $6,000 instead of $50,000.  Do you expect the same level of service?  

Who gives the better blowjob...the hooker that you meet at the bar at The Bellagio that charges $500, or the one that you pick up on the corner in the ghetto that charges $20? 

What difference does it make? You should provide the same level of service no matter the price point. If you want to get the $2 million listing, provide the same level of service on my $200k listing.

Posted

I’d be interested to hear long time agents and mortgage people to comment on the following scenario. 

Assume the economy goes into a recession in the next six months, with significant job losses. Not as bad as 2002 but close. Also assume Fed rates drop from 4.3 percent to 3 percent in six months, leading to significantly lower mortgage rates. 

What happens to home prices starting at the beginning of the job losses for the next 24 months? Up? Down? A lot? A little?
 

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