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Reasonable Listing Terms in Light of Court Settlement

4,194 Views | 53 Replies | Last: 8 mo ago by Red Pear Luke (BCS)
Medaggie
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In reply to OutdoorAg • 6:06p, 3/23/24
OutdoorAg said:
Red Pear Felipe said:
Or you could list it with Red Pear Realty for 1.5% and bring your buyer. This is assuming you haven't signed any listing agreement with her. What part of SW Austin are you in? I have a listing in Western Oaks and we got an offer on the first day.



Discount brokerage…….you get what you pay for.
This is why standard RE agents get a bad name. When you don't follow the 3% sheeps, you are labeled as less than or inferior.

If I were a RE and broker, I would happily take 2% to drive more business. Isn't this what most industries do, create competition? 3% reeks of collusion to me.
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jja79
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In reply to Medaggie • 6:47p, 3/23/24
AG
I have wondered why a listing agent with 6% didn't offer 4% to the buyer's agent and promote it in the area. Drive Realtor traffic and maybe get a quicker offer. After a while, assuming this worked, you might get more listings in that area.
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Agilaw
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In reply to OutdoorAg • 7:31p, 3/23/24
AG
Have to defend Red Pear here. They are full service and have a business model that gives back to their clients. That doesn't make them discount.
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Deats99
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In reply to Red Pear Realty • 9:31p, 3/23/24
AG
Red Pear Realty said:
OutdoorAg said:
Discount brokerage…….you get what you pay for.


You mean three of the five realtors in Texas that I know of who hold Master of Real Estate degrees from TAMU, a top 5 global program for real estate? Or are you talking about how we do about seven to ten times more deals in a given year than the average agent? Or the fact that we saved our clients about half a million dollars in 2023? You know we all do this to help our fellow Aggies, right? None of us even need to offer our discounted service to you? That I own another brokerage that charges the full market rate and Red Pear is basically just the Aggie hookup? Felipe was nicer than I will be. Please don't ever call any of us for help.

Dude in 20 years of real estate board bullpucky I believe you are the first to threaten to withhold your special deal. Good on you and your superior business model that caters to our special brand of TexAgs cheap dewshbaggeriness(??).
So please explain why you screw over the rest of your customers if you offer the same level of product and service across the board?
I am all for being cheap(see comments above) but that is like trying to tell me there is no difference between a BMW XM and a x1 because they both come from BMW, is horse *****
A good plan violently executed now is better than a perfect plan executed next week.
-George S Patton
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Red Pear Realty
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In reply to Deats99 • 10:04p, 3/23/24
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I offer a discounted service to Aggies and I only offer that service on this website. I don't screw over anyone.

Imagine that the owner of BMW was an Aggie and he really enjoyed helping other Aggies drive XM's at the price of an X1, and also enjoyed making the other car dealers squirm while doing it because they had to justify to their drivers why they wouldn't help out their fellow Aggies also.
Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
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Medaggie
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In reply to Deats99 • 11:02p, 3/23/24
Deats99 said:


So please explain why you screw over the rest of your customers if you offer the same level of product and service across the board?
I am all for being cheap(see comments above) but that is like trying to tell me there is no difference between a BMW XM and a x1 because they both come from BMW, is horse *****
Wait. Let me get this straight. If I have Family and Friends who need medical care, I give them a deep discount or most of the time free care. Then I am screwing over the rest of pts I bill full charges? I just want to make sure I understand your position.

This is what creates a bad image for RE agents and the profession in general. You protect this imaginary 6% turf to the death. I am not even debating that 6% is too much. Maybe if you are excellent, it should be 10%. If you are terrible, maybe 2%. But to somehow make 6% some hard fast holy grail makes you come across like the mafia.
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Deats99
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11:15p, 3/23/24
AG
I had a big long post, but the gist is gimmicks are bull ish
A good plan violently executed now is better than a perfect plan executed next week.
-George S Patton
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HarleySpoon
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7:10a, 3/24/24
AG
I love these recurring threads. They are like a cozy old movie that will always be around when you need reliable entertainment.
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Red Pear Realty
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In reply to Agilaw • 7:38a, 3/24/24
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Thank you.
Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
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Sea Speed
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In reply to OutdoorAg • 8:09a, 3/24/24
AG
OutdoorAg said:
Red Pear Felipe said:
Or you could list it with Red Pear Realty for 1.5% and bring your buyer. This is assuming you haven't signed any listing agreement with her. What part of SW Austin are you in? I have a listing in Western Oaks and we got an offer on the first day.



Discount brokerage…….you get what you pay for.


This is the funniest post I have seen on this board in ages.
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tmaggie50
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8:47a, 3/24/24
AG
There is a very limited subset of situations where an agent is worth 3% IMO. New buyers or sellers with zero knowledge or willingness to learn anything about how the process works AND the asset being at a price point less than $300K.

Other than, the standard commission is a joke.

Comps and common sense will take you as far as you need to go. And you usually don't even need the actual comps, just common sense.

Commissions on the residential and commercial side in Texas need a shake up in most cases.
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tmaggie50
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In reply to Aggie71013 • 8:58a, 3/24/24
AG
Aggie71013 said:
I think the overall problem people have is as home priced have skyrocketed the compensation per sale has gone way up. The average sales price in Houston in February 2024 was just over $400k. At 6% the buyer and seller are both paying 12k. That 12k is split between broker and agent.

12k is is more than many highly educated white collar professionals gross pay for a month. Brokers and realtors combined aren't putting in 160 hours of work on most transactions nor is there expertise so unique to justify the cost.

MLS not being open means they have better data than most due to collusion / anti-competitive behavior. I could quickly build a model of comps to see what reasonablely similar houses are selling for if I had access to data. I'd even be willing to pay for that access. I should have to be a licensed agent or broker to get it. Texas needs to move to be a public access state, but won't unless we abolish property taxes.

There are good realtors who are good negotiators who are worth the cost. Realtors should not get the same comp for an easy sale vs. A complex transaction.


Sales prices shouldn't be made public. That is private financial information. It's like a financial broker making all of your financials and trades public for other traders. It's BS.
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Aggie71013
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In reply to tmaggie50 • 9:06a, 3/24/24
AG
It's a catch 22 to me. I agree that it's a private transaction, but keeping data behind MLS keeps power with realtors. This also keeps power with CADs since average homeowners don't have access to data to fight their valuations.

Mortgage amounts are already public data so some transaction information is already available.
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jja79
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9:11a, 3/24/24
AG
I'm starting to come around on this. Commissions on oil field equipment and services, pharmaceuticals, software, etc needlessly drive up the cost of those things. I'm sure there are folks that posted on this thread that get commissions so surely they'll be ok with that.
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tmaggie50
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In reply to Aggie71013 • 10:51a, 3/24/24
AG
Aggie71013 said:
It's a catch 22 to me. I agree that it's a private transaction, but keeping data behind MLS keeps power with realtors. This also keeps power with CADs since average homeowners don't have access to data to fight their valuations.

Mortgage amounts are already public data so some transaction information is already available.


I agree. I don't think the information should be available at all and I certainly don't think it should be restricted to only people who paid for a RE license.
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Know1
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In reply to jja79 • 11:25a, 3/24/24
AG
jja79 said:
I'm starting to come around on this. Commissions on oil field equipment and services, pharmaceuticals, software, etc needlessly drive up the cost of those things. I'm sure there are folks that posted on this thread that get commissions so surely they'll be ok with that.


There's some gold on this thread. I'm taking notes. Enjoy retirement brother..you've earned it!
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MS08
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In reply to Know1 • 11:41a, 3/24/24
AG
Know1 said:
jja79 said:
I'm starting to come around on this. Commissions on oil field equipment and services, pharmaceuticals, software, etc needlessly drive up the cost of those things. I'm sure there are folks that posted on this thread that get commissions so surely they'll be ok with that.


There's some gold on this thread. I'm taking notes. Enjoy retirement brother..you've earned it!


Yes, Some gold and some poo poo.
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jja79
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In reply to Know1 • 11:45a, 3/24/24
AG
It's crazy to me that people get so worked up about something that involves them a few times in their lives but ignore the instances that affect them every day.
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Red Pear Luke (BCS)
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In reply to MS08 • 12:56p, 3/24/24
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MS08 said:
Know1 said:
jja79 said:
I'm starting to come around on this. Commissions on oil field equipment and services, pharmaceuticals, software, etc needlessly drive up the cost of those things. I'm sure there are folks that posted on this thread that get commissions so surely they'll be ok with that.


There's some gold on this thread. I'm taking notes. Enjoy retirement brother..you've earned it!


Yes, Some gold and some poo poo.


You can wrap a turd in golden foil, but at the end of the day - it's still a turd.
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