Prices are set by supply and demand, not by how much work is put in, unless it is hourly paid work.Can Realtors honestly say that the actual # of hours of work they actually put in is worth tens of thousands of dollars? Again, TOTAL amount of work and NOT the duration it spans.
Discount listings work very well if the discount comes from the listing end and NOT from the selling end.Discount Realtors and mere postings don't work
The current rates are not possible without the stronghold by the real estate cartel, so prices are driven by the monopoly - NOT supply and demand.Prices are set by supply and demand, not by how much work is put in, unless it is hourly paid work.
It's worth something, just not $15k (say a $1M place ... ~$15k just for the Buyer's agent).Can a buyer honestly say that after been shown 50 houses over a 4-month span and having a realtor negotiate unsuccessfully 2 or 3 lowball offers... that the realtor's time, car expenses such as gas, wear and tear of his car...really not worth anything?
I bet you this Seller's agent probably worked less than the Buyer agent example above.Or, can a seller honestly say that after a realtor who carried the listing for 6 months or so, and negotiating unsuccessfully reasonable offers at market value which the seller would not accept... that the realtor's time is really not worth anything?
$ is $, not sure what you mean.Discount listings work very well if the discount comes from the listing end and NOT from the selling end.
You mean this mere posting isn't allowed on the MLS? http://www.realtor.ca/Residential/Map.a ... r=x3356557Mere postings will work better than non-MLS listings in FSBO sites... that is IF mere posting listings are EVER allowed on MLS.
Commissions have a listing portion going to the listing agent, and a selling portion going to the buyers agent.$ is $, not sure what you mean.
Absolutely. A buyers agent on average, works 3 times harder than a listing / sellers agent to produce a sale.I bet you this Seller's agent probably worked less than the Buyer agent example above.
If it was a mere posting it would not be allowed.You mean this mere posting isn't allowed on the MLS?
Yes the FSBO would still have to pay the buyers agent, but this is not too bad, considering the tremendous exposure the MLS provides. The more exposure, the more the potential buyers which means a higher price for the seller. A higher price could easily cover the cost of commissions and in a hot market provide the seller with quite a bit more net $$$. In a weak buyers market could be the difference between selling or not.1) Even if the FSBO can save on the listing side of the commissions, Buyers are usually represented by a Realtor (because on the surface, it appears to be "free") so the FSBO will still need to pay the Buyer's agent.
Yes, that's why I said there is no such thing as a mere posting listing. Maybe some day, but not right now. The Competition Bureau was trying really hard to get them on MLS but they failed.The way mere postings work today still needs to go through the middleman aka a Realtor.
With 9,000 realtors in the Lower Mainland competing for your business, hundreds of offices from full service & commission to partial service & commission, to flat rate offices, to 1% types brokerages... nope there is no competition at all.economic barriers to competition.