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Next Big Idea, Positive Thread

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RSW

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Feb 18, 2002
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Certified Residential Appraiser
State
Tennessee
RSW- People on this forum are the exception. Please keep that in mind. It is an insult to realtors when people assume it can easily be done by the typical person regardless if there is technology available.

(Most folks do not know how to screen those individuals who are "interested" in looking at their home. You have the sales background, so you know what to look for, that can't be said of most home sellers.)

Thanks for a realistic reply Donna. That is only the tip of the iceberg as to why it is a wise decision to have a realtor represent you.

It should be an insult to the seller to have to pay $18,000 for a realor to sell a home too.
 

Mountain Man

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Jan 15, 2002
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Certified General Appraiser
State
Georgia
Along with a paid advertisement on your site, you need to co-op with a broker to offer listings at 4% for those who decide to list. At 4%, it would be 1% for selling side, 3% for listing side.
You also need to find some appraisers to do pre-listing appraisals, also at a discount...say $195 for a 2055 and $220 for a URAR. Then any buyer could go to your cooperating lender for a loan at 1/2% origination fee with no discount points. :)
 

Mile High Trout

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Colorado
Great comments

you guys are all on the money. There are serious considerations, and current in place methods for private purchases are daunting & exceedingly difficult for the average joe.

"Let me know when you get that going?"!!!!! I'll let you know when I quit taking losses as an appraiser. It's kind of like the idea that could make me money, but it's better for the country, if it's realized faster, and I take no credit for it. In fact, this old guy BOB, who used to be in the airline industry shared this idea with me several years ago. He had been working on it, but it never materialized. I waited several years, to talk about it, in case he could get it moving, but he apparently never did.

Let me tell you realtors, I'd already be in a home, if I could trust a realtor. It's the fact that you can't trust someone who is so motivated by money, to make you the sale fairly. 3-6%!!!! When I first started out as an appraiser, and found out that a point was a percentage, It blew my mind!!! There are plenty of appraisers I have heard first hand spewing about "how do they think they are worth that much money!!??" I understand contracts are difficult, but not so difficult that it should be tantamount to a full years pay, for many people, or even a half years, if you're making more. In my opinion it's those unscrupulous earnings that have long-term cyclical effects on market balances & cause housing value inflations that are skewed against typical citizen earnings. Basically, if that 6% was not taken off the top by commissions in every deal, mean home values would essentially be lower, and housing inflation would be more in line with national wage increases, etc. It's a case of someone making easy money, that comes from somewhere, and the guy at the bottom of the terd hill ultimately pays the price. Weather he has bought, or is deciding to buy, housing prices climb higher & faster than people can expect their earnings to increase. I'd bet you cannot prove to me that 6% commissions on housing commodities has not affected overall mean valuations! Mabye when values are so skewed that the 40 year loan emerges as commonplace, people might turn heads. Didn't the typicall loan even 30 years ago stand at well under 30 years? My grandparents took 10 & 20 year mortgages when they initially purchased, I thought. You'd have to be some kind of big shot, to do that in todays economic climate. The "right" of Americans to be afforded opportunity of homeownership, is constantly getting farther and farther away.

But to stay positive.... Being a realtor is a professional position, with demanding aspects, etc... But if we were to look at the ratios of work performed vs money earned for realtors vs appraisers, It's skewed. Appraisers and realtors are peas in the same professional pod, but both facillitate different functions, towards the same end. Now with new AMC influence it's even further gapped. ex: A $300k home will yeild an appraiser $250 with an AMC (If you are lucky enough to have an AMC that pays that much), and a studious appraiser will spend 8-10+ hours on this. 250 / div by 8 = $31.25 hr. Now the realtors take 6 points, however distributed, earning $18,000 dollars!!! Even if he worked full time for two or three weeks (I'm not familliar with realtor "time spent" so bare with me), and even split that in half that is still: (300 x 6% /div by 2 ) / div by 3 weeks (15 days). That's still $600 a day or $75 hr.!!!! I'm sure this is not that accurate, but everyone can relate to what I'm saying. Mabye realtors should pay the appraisers!!! I'm just joking. I'm a salesman too, and I have to grab em by the gonads, just to get an order these days. It takes one, to know one. I figured that being an honest, forthright realtor would end up being just as impossible as when I tried to be an honest car salesman. When big money & financing is involved, someone with more keys, is constantly re-adjusting deals & making sure everybody pays. As long as their is incentive to do so, it won't end. The AVM issue was a way to circumvent the appraiser, so that those profits could be increased even further! Now the AMC to emiminate biased??? These geniuses need to follow the money, not the interests of special interests.

There are no easy answers, and everyone should be entiltled to earn. But if I'm getting chopped, and value reliability is faltering on a nationwide level, by emerging bank processes, I can't help but trust realtors less and less. In fact, news publications indicate that a lot of the public sector is feeling similar distrust. Most realtors I know make it fast and quick. Never have I met groups of people who have so much cash in the "slush fund". If homes were more affordable, the need for realtors would decrease, it's a self fulfilling prophecy to need a realtor, because it's such a big investment. It's a systemic issue, who's long term affects are becoming more and more apparent.

I did not stay as positive as I would have liked to, and I DO AGREE that there are big & substantial obsticals to this type of no commission sale. But the American people deserve better than they get now. I know I do, at least. I've got no problem paying a fair wage, for fair work. But it's got to be fair to me, or I'll go down in flames before fessing up one red cent!!!:new_2gunsfiring_v1:

Any other big ideas? This thread will die out, with only one subject matter.

"Vicariously, I.... I live while the whole world dies..." 10,000 days.
 

Hamlet

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Joined
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Professional Status
Certified Residential Appraiser
State
Ohio
Is this just a Realtor bashing thread? If so, I think you need to change the name.:shrug:
 

Mile High Trout

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Feb 13, 2008
Professional Status
Certified Residential Appraiser
State
Colorado
Surfing is not reading

Donna, mabye you should take the time to read the whole post. Keep your "bashing" one liners to yourself please. So you're upset the thread was not maintaining positivity. Well each subject should be thoroughly explored. The positivity is there, if you could take the time to read through the material. If it's daunting, learn to speed read. Then with speed typing, you will express yourself with more umph, than one liners. Mabye you should contribute. I'd be more than happy to hear some great solutions you have to offer regarding any subject matter. Please follow the thread title.
 
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Hamlet

Elite Member
Joined
Aug 14, 2006
Professional Status
Certified Residential Appraiser
State
Ohio
Jeremy I did read the whole post and it wasn't a bashing one liner. I don't appreciate your lumping all Realtors together any more than I appreciate lumping all appraisers together.
 

Mile High Trout

Elite Member
Joined
Feb 13, 2008
Professional Status
Certified Residential Appraiser
State
Colorado
Donna, you are off topic.

I'm going to go ahead, and slow it down for you Donna, and repeat myself. Please stay with the thread title. All that reading, and that's all you can come up with? Please town down the attitude, and stay with the thread. I'd be more than happy to hear anything intelligent from you, even if it's in direct opposition to what I said. It's about exploring different ideas and such. Again, I'll repeat: Please stay with the thread title. If you don't have any ideas, move on to the next thread please. Sometimes you have to lump things together, it's not a 100 page book, and there is only so much room. You don't have to feel lumped in, if you don't want to. It would not be in line with intelligent thinking to assume everyone is the same, would it? So I generalized, big deal. Disagree, I'd be happy to hear why. I'm going to need more than a reference to a feeling, to understand what you are thinking though.:new_2gunsfiring_v1:
 
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Hamlet

Elite Member
Joined
Aug 14, 2006
Professional Status
Certified Residential Appraiser
State
Ohio
Let me tell you realtors, I'd already be in a home, if I could trust a realtor.

unscrupulous earnings

It's a case of someone making easy money,

But the American people deserve better than they get now.


Give it a rest, Jeremy. You came on here and made the above statements. I call that Realtor bashing. You are entitled to your opinions, but as a Realtor and an appraiser, I don’t appreciate your comments, nor do I find them professional or intelligent.
 

Head Surfer

Administrator
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Joined
Jan 4, 2002
Professional Status
Retired Appraiser
State
Florida
Donna and Jeremy,

This is a warning to stay away from the personal attacks if you want to participate.

Don't send me no PM's about who started it. Just both stop right now.
 

PropertyEconomics

Elite Member
Joined
Jun 19, 2007
Professional Status
Certified General Appraiser
State
New Mexico
It should be an insult to the seller to have to pay $18,000 for a realor to sell a home too.


I am curious as to why you believe it is an insult for a seller to pay a realtor to do what they hired them to do and at the price (commission) all parties contracturally agreed upon?
 
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