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A complete, fungible commodity. Except for size, location, appearance, appliances, insulation, water risk, lead risk, bugs, building codes, bathrooms, an endles
by jncfhnb 3y ago
A complete, fungible commodity. Except for size, location, appearance, appliances, insulation, water risk, lead risk, bugs, building codes, bathrooms, an endless list of amenities, a hefty weight of personal preference, HOAs, land, and that other negligible stuff off the top of my head.
- infecto 3y agoFor the purposes of pricing and workflows for buyer/sellers agents, the home is very much a commodity.
- roflyear 3y agoHomes are reduced to like-buckets at some point by necessity, but they are absolutely not treated like commodities. If we did, you'd have to have a huge margin - something like 20-30%, or even more, to account for risk. You're upset you pay like, 6-8% in fees now when selling your home? Well...
- jncfhnb 3y agoBy that logic what isn’t a commodity?
- infecto 3y agoSorry if my line of communication is hard to understand. The selling/buying process can be standardized because for the bottom 90% of homes in a market they are no different from a workflow perspective. Yes, they are all "unique" but the process to buy and sell is exactly the same and they can be mostly treated as a commodity from that perspective. In this scenario the upper 10% of homes by list price will not be treated as a commodity and probably need a more specific touch in the buying/selling process. I hope by breaking it down for you its easier to consume.
- antisthenes 3y agoPeople are getting way more picky with the current home prices. If a house costs 3x my yearly salary, I am much more willing to treat it like a commodity than if it costs 6-7x my yearly salary. And if the RE agent is going to treat a higher price purchase as a commodity, I will make their life a living hell or find another one.