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When I bought and sold a house: As a first time buyer, the commission was totally worth it for such a major purchase. Yes, I could self-educate, but that leave
by gwbas1c 2y ago
When I bought and sold a house:
As a first time buyer, the commission was totally worth it for such a major purchase. Yes, I could self-educate, but that leaves me open to beginner's mistakes.
As a first time seller, the amount of work to get my house sold was INSANE, even though I was only there three years. Yes, I could do it myself, but I have better things to do, and in this case, beginner's mistakes could have implications if I violate a law I don't understand.
It's the same reason why some people prefer to sell cars to a dealer instead of selling private market, or buying cars from a dealer instead of private market.
- deleted 2y ago[deleted]
- ProfessorLayton 2y agoAgreed, but where this all falls apart is that it's a % fee rather than a fixed one for the services provided.
- gwbas1c 2y agoI think if that was the case, the cost would go up. Realtors work very, very hard; and they aren't getting rich. If it was as easy as you think, no one in their right mind would pay the commission.
- ProfessorLayton 2y agoI never said it was easy? Additionally the issue isn't paying for a service, but that people are paying the commission as a percent rather than a fixed fee. Lastly, lots of other professions are difficult, and people make them work without taking a percent cut of the transaction via collusion — which is now being challenged, and costs are expected to go down, not up [1]. [1] https://www.kqed.org/news/11980019/national-association-realtors-class-action-lawsuit-buy-sell-house-california-is-about-to-change-heres-how https://www.kqed.org/news/11980019/national-association-real...
- datavirtue 2y agoThere are free or cheap services for those transactions that ensure total compliance with all laws and regulations and do all the work for you. Title agencies and banks. Your hand-wavy "I might do something wrong" is just ignorant FUD.
- gwbas1c 2y ago> There are free or cheap services for those transactions that ensure total compliance with all laws and regulations and do all the work for you. You're underestimating the value of my time, the amount of nitpicking that is involved with compliance, and the amount of haggling my realtor did behind the scenes.