4 ms·

You encountered a great example of how not only is the fee ridiculous, but also the agents are not incentivized to work for you. They are incentivized to move h

You encountered a great example of how not only is the fee ridiculous, but also the agents are not incentivized to work for you. They are incentivized to move houses as fast as they can.

ProllyInfamous 3y ago
After turning-out IBEW, I spent the remainder of my electrician career specialized in residential pre-sale renovations ("make ready"). Despite peak earning years just pre-CoVid, essentially just updating circuit panel violations and replacing GFCIs [read: well-paid work without much mental strife], I hung up the towel. Realtors are nice simple people, the masters of soft skills (which I lack) — but ultimately I realized that "when you're the only person that gives a shit, you're gonna have a bad time." For their efforts, I think total sale comp should be 1-3% (both sides), depending upon their accessibility. >They are incentivized to move houses as fast as they can. Being told to "not worry about other sub-contractor craftsmanship, especially don't POINT IT OUT TO CLIENTS" — I just couldn't be part of a team that cared so little as to hand over duds for [typically] seven-figure homes/investments. "We carry professional insurance FOR A REASON."
- plagiarist 3y ago
  It truly is a racket. You get several hours to vet a 7-figure purchase in a zero-sum game against a seller with information arbitrage. Nobody is liable for anything short of actual deliberate fraud. For everything you didn't guess to ask, you're doing the repairs after you buy. Of course they won't spend money on craftsmanship. I doubt they would even fix dangerous shit like bad circuit panels if it weren't for government inspections to certify habitability.
  - ProllyInfamous 3y ago
    >I doubt they would even fix dangerous shit like bad circuit panels A retired NFL player was purchasing this house and multiple inspectors indicated that the entire main panel would require replacement [note: NOT in contract to update any branch circuits; panel only]. Any pre-existing branch circuits unable to be update "to code" were to be de-activated. Previous homeowner had made all sorts of "specials" [i.e. crappy work] within this home, and many of the branch circuits were just hots with neutrals tapped off other shared circuits [not multibranch; it was hack-work]. One such disabled circuit —per our contract— was for a TV above the kitchen sink, which had its own 15A hot — but jaked off another neutral [melt/burn/fire hazard; not "to code"]. ---- What does one do on a multiple thousand $$$ contract for a multimillion dollar property, when your lifeblood brokerage is telling YOU [the EXPERT] that "no permits are required, just make that TV work!!!" ? Or other such new-homeowner surprises as: "please disable the garage door safety sensors even though I have over ten young children that could be crushed by one of the most dangerous items in a typical home [garage door]" —okay, I added that latter half. ---- Firms don't often care if your house fetches slightly less, because to them it isn't really reflected much differently in their [already bloated] commissions. Any future land purchases I make will be lawyer only, up-front flat-fee [where possible].

You encountered a great example of how not only is the fee ridiculous, but also the agents are not incentivized to work for you. They are incentivized to move houses as fast as they can.

ProllyInfamous 3y ago

After turning-out IBEW, I spent the remainder of my electrician career specialized in residential pre-sale renovations ("make ready"). Despite peak earning years just pre-CoVid, essentially just updating circuit panel violations and replacing GFCIs [read: well-paid work without much mental strife], I hung up the towel. Realtors are nice simple people, the masters of soft skills (which I lack) — but ultimately I realized that "when you're the only person that gives a shit, you're gonna have a bad time." For their efforts, I think total sale comp should be 1-3% (both sides), depending upon their accessibility. >They are incentivized to move houses as fast as they can. Being told to "not worry about other sub-contractor craftsmanship, especially don't POINT IT OUT TO CLIENTS" — I just couldn't be part of a team that cared so little as to hand over duds for [typically] seven-figure homes/investments. "We carry professional insurance FOR A REASON."

plagiarist 3y ago
It truly is a racket. You get several hours to vet a 7-figure purchase in a zero-sum game against a seller with information arbitrage. Nobody is liable for anything short of actual deliberate fraud. For everything you didn't guess to ask, you're doing the repairs after you buy. Of course they won't spend money on craftsmanship. I doubt they would even fix dangerous shit like bad circuit panels if it weren't for government inspections to certify habitability.
- ProllyInfamous 3y ago
  >I doubt they would even fix dangerous shit like bad circuit panels A retired NFL player was purchasing this house and multiple inspectors indicated that the entire main panel would require replacement [note: NOT in contract to update any branch circuits; panel only]. Any pre-existing branch circuits unable to be update "to code" were to be de-activated. Previous homeowner had made all sorts of "specials" [i.e. crappy work] within this home, and many of the branch circuits were just hots with neutrals tapped off other shared circuits [not multibranch; it was hack-work]. One such disabled circuit —per our contract— was for a TV above the kitchen sink, which had its own 15A hot — but jaked off another neutral [melt/burn/fire hazard; not "to code"]. ---- What does one do on a multiple thousand $$$ contract for a multimillion dollar property, when your lifeblood brokerage is telling YOU [the EXPERT] that "no permits are required, just make that TV work!!!" ? Or other such new-homeowner surprises as: "please disable the garage door safety sensors even though I have over ten young children that could be crushed by one of the most dangerous items in a typical home [garage door]" —okay, I added that latter half. ---- Firms don't often care if your house fetches slightly less, because to them it isn't really reflected much differently in their [already bloated] commissions. Any future land purchases I make will be lawyer only, up-front flat-fee [where possible].