Real estate agent? low commission? 1%

[SMARTT]

I need a real estate agent with LOW commission.

Anyone heard of this guy?

[charliebrown]

www.bytheowner.com
www.propertysold.ca

craigslist
kijiji

If you're selling (and not in a rush), the above sites will get seen. Listing agents havent really persuaded me into what separates them from every other agent who've called & want to list for me

[SMARTT]

how long did it take to sell urs?

[pm_john]

www.bytheowner.com
www.propertysold.ca

craigslist
kijiji

If you're selling (and not in a rush), the above sites will get seen. Listing agents havent really persuaded me into what separates them from every other agent who've called & want to list for me

just checked the two websites, not too much listing like mls.ca

[Babo]

He has a 1% fee when he is both the listing, and the selling agent. Should find out what his normal fees are, when he isn't the selling agent.

[JAGpilot]

These low commision fees are all scams according to my dad. Proper agents charge 4-5% since its split between the buying/selling agent. This 1% guy probably will say here is a list of houses, buy one of these or the deal is off. Trust me, I'm not being biased but my dad is one of the most honest Realtors in the business who is out to please the client, not make the money. I have seen the messes hes gotten into because of some fly-by-night realtors. You wouldn't believe the **** work some of these guys do. Your dealing with 100s of 1000s of dollars here. Biggest investment is your house. Go with an HONEST realtor and ASK for REFERENCE LETTERS before you do the deal. Any honest and good realtor will give you copies of them. What area are you looking to buy/sell in?

[be443]

These low commision fees are all scams according to my dad. Proper agents charge 4-5% since its split between the buying/selling agent. This 1% guy probably will say here is a list of houses, buy one of these or the deal is off. Trust me, I'm not being biased but my dad is one of the most honest Realtors in the business who is out to please the client, not make the money. I have seen the messes hes gotten into because of some fly-by-night realtors. You wouldn't believe the **** work some of these guys do. Your dealing with 100s of 1000s of dollars here. Biggest investment is your house. Go with an HONEST realtor and ASK for REFERENCE LETTERS before you do the deal. Any honest and good realtor will give you copies of them. What area are you looking to buy/sell in?

I completely agree witht he above statement. I used to be a real estate BROKER and it is IMPOSSIBLE as an agent to truly give 1% commission as here is the breakdown of costs of when I was an AGENT some 5 years ago (note isnurance costs have since doubled):

Company desk fees (just to be on the roster and have access to a conference room, receptionist, fax): $350/month
Personal liability insurance: $100/month
Errors & Ommissions insurance: $150/month
License: $100/month

Now you haven't even sold anything yet, and you have some start up fees:
Signs, average of $125 each and need a minimum of 5
Promise to purchase/lease, counter offer forms, etc, $200

Then there are your displacement fees:
Car lease, rental, payments, etc
Insurance for said vehicule
Gas for said vehicule
Pager and/or cell phone

Then marketing fees:
Advertising that place for sale on our local paper $175/week
Various other advertising (calendars, magnets, etc): $100/month

Then there is your time, which could mean you are working from 8am-3am at busy times, 6-7 days a week, always on call. During the summer, you basically work 3-4 days a week, 8am-7pm

It is hard work and LONNNGGGGG hours. The average sale from call to view the place to singing at the notary (here in QC you sign with a notary) was at least 30-49 hours of work. For 1% no way!

On a $200,000 home = $2000 commision at 1% - expenses (as listed above) and then income taxes, both taxes (employer & employee), QPP, etc. You are lucky to 'make' clear $800 if at all.

Also there is an industry wide acceptance that these people that offer 1% won't get alot of agents showing their place because after all the agent gets paid by the agreement with the listing agent/owner. I know I personall;y would avoid these places if I was still in the industry. In our area the going commssision rate is 6-7% and well worth it IMO.

My two cents, AM

[normistheman]

The old adage applies in this case... "You get what you paid for."

[SALTY3142]

says *when minfee lists and sells* so it's only when he's double ending the deal

[monomono]

Proper agents charge 4-5% since its split between the buying/selling agent.

I think 3-4% is a better range to aim for. In future when selling I will pay no more 1.5% for my agent and 1.5-2% for the buyer agent (although less than 2% the seller agent may ignore your listing). It really depends on your location and property. However, I'm in Toronto and as long as your property isn't a special case and priced correctly, the seller agent won't need to work very hard.

[charliebrown]

I think 3-4% is a better range to aim for. In future when selling I will pay no more 1.5% for my agent and 1.5-2% for the buyer agent (although less than 2% the seller agent may ignore your listing). It really depends on your location and property. However, I'm in Toronto and as long as your property isn't a special case and priced correctly, the seller agent won't need to work very hard.

Only real value the selling agent brings = listing on mls.ca & the website accessible only by agents

Pretty good way to make 1-2.5%

Atleast with buying agents, one has to drive around from place to place with the buyer.

Every listing i've seen, the selling agent was NEVER present. No one to explain things about the house/condo/neighborhood/features.

[eelfliw]

Every listing i've seen, the selling agent was NEVER present. No one to explain things about the house/condo/neighborhood/features.

Try going to some open houses. They'll be there.

The problem is, once you've done your research, you'll probably know more about the neighbourhood and house construction than the agent.

[radeonboy]

We had a low commission seller like Minfee. Long story short, dont go that route, you will have headaches later on. Such a bad experience.

[JAGpilot]

Real Estate is the biggest choice you make. Don't be a cheapass and try to save money when working with an agent. This minfee is a real scam who my dad has heard stories about. He will basically make you sign a paper saying he can basically do anything and then he will put it out for cheap, neglect everything and then say "you signed a contract, your not going anywhere without buying one of these ****** houses I have for sale". For your own good, PLEASE find an agent that charges at least 4% commision and ASK FOR REFERENCE LETTERS. Not to scare you but the odds of finding a good agent are like 1 to 6. You need to do your homework and dont just trust the first moron to walk by. Getting your license for real estate is easy and there are too many idiots in the business.

[felix]

Agreed. Go with someone you trust.