NAR Counterpunches After 60 Minute Segment on Discount Agents

RE:NAR Counterpunches After 60 Minute Segment on Discount Agents

David Reed — Tue, 19 Jun 2007 11:00:00 GMT

If there's anything that's fall down easy these days it's getting loans approved. Take an online application, get a DU or LP, gather the paperwork Fannie or Freddie asks for and it's closed. Not at all what it was like 10 years ago. I've been a lender for 20 years and I laugh at what broker loan officers say they go through then complain they're the only ones who have to disclose income. Realtors who are serious about their business save sellers and buyers money, period.

RE:NAR Counterpunches After 60 Minute Segment on Discount Agents

Loni — Fri, 15 Jun 2007 11:00:00 GMT

All you haters out there just need to stop it! As Real Estate Agents/Broker in a depressed market, we have to front all the money required to market a house today. There are very real expenses that we front, including signs, fliers, ads, Open Houses, and much more. Sometimes we have to pay for repairs (new carpet, paint, landscaping, etc) in order to make a home marketable to buyers who are all fully aware that it is a "Buyer's Market." Even with all said, gouching is never acceptable, however.

RE:NAR Counterpunches After 60 Minute Segment on Discount Agents

Ross57 — Wed, 13 Jun 2007 11:00:00 GMT

Please. as an appraiser with over 25 years in the business, like all things, 10% of the good agents and mtg brokers do 90% of the work! Our problem is all of the incorrect sloppy information in our mls system that agents don't care about. Well, I've got news for you, it is decieving the public. Clean up your act. After attending an ABA symposium, I was astonished to see upper management of large insitutions are just as confused as the rest of us. We'll have to see how this all shakes out.

RE:NAR Counterpunches After 60 Minute Segment on Discount Agents

MktNinja — Tue, 05 Jun 2007 11:00:00 GMT

TO REALTORS: Keep in mind that you can have a client who wants to sell or buy a million dollar home, but if the loan doesn't go through no one makes $$$. I've had situations where the agent keeps pushing the borrower to go higher and higher when they know that a more expensive house will cut into the borrower's can't really afford it w/ traditional financing. Some "bad apples" won't show a house a better house with a 4% commish!

RE:NAR Counterpunches After 60 Minute Segment on Discount Agents

Anonymous — Mon, 04 Jun 2007 11:00:00 GMT

Mortgage Brokers that posted idiotic comments above: Get with the program if you feel Realtors make too much than become one. Mortgage Brokers above who complained that he has to baby sit a loan til time for closing and you "only" make 1.5% while a realtor makes 3% commission on buyers end - get in the car a start pouring money into gas drive around with clients show them 10 sometimes 15 properties and see the business from our perspective. Ignorant! and you get business from Realtors so be thankful.

RE:NAR Counterpunches After 60 Minute Segment on Discount Agents

Anonymous — Mon, 04 Jun 2007 11:00:00 GMT

Mortgage Brokers that posted idiotic comments:Get with the program if you feel Realtors make too much than become one.To one Mortgage Broker above who complained that he has to baby sit a loan till time for closing and you "only" make 1.5 % while a realtor makes 3% commission on buyers end - get in the car a start pouring money into gas drive with clients show them 10 sometimes 15 properties and see the business from our perspective. And you do get business from Realtors so be thankful.

RE:NAR Counterpunches After 60 Minute Segment on Discount Agents

john b — Wed, 30 May 2007 11:00:00 GMT

As a mortgage broker I wish all I had to do was fill out some paperwork, put a listing on a webpage (MLS) (the customer typically does all the searching) then turn a key and say "this is the kitchen..." The customers and the mortgage professionals do many times more work getting to the closing table than any realtor is ever responsible for. We should be getting the 6%. Kudo's to 60 Minutes. Let the buyers/sellers off the hook for these high commissions, I say.

RE:NAR Counterpunches After 60 Minute Segment on Discount Agents

Jesse — Wed, 30 May 2007 11:00:00 GMT

Regulate the Realtors and you get a better product. Do not focus on the 6% focus on the intergrity. I sold my home FSBO. Saved 60k in commissions. The black eye for me was all the calls by Realtors telling me I needed them, 60 k later,did not. Everyone I spoke to, which was 15 at last count all promised the world for the LISTING. They want the listing and let some else bring the borrower. As a licensed mortgage broker in 7 states, I spend more time cleaning up what GREEDY, Realtors and LO's DO

RE:NAR Counterpunches After 60 Minute Segment on Discount Agents

Allan — Tue, 29 May 2007 11:00:00 GMT

Buying a home is typically the most expensive purchase that people make in their lives. With all the information available, online and otherwise, there is NO EXCUSE to remain ignorant. Ask for detailed information where all costs derive from, sample contracts showing these expenses, what recourses are available to you if disputes arise. Successful real estate agents will stick around, but those who aren't tend to muck things up.

RE:NAR Counterpunches After 60 Minute Segment on Discount Agents

Sue Olson — Mon, 28 May 2007 11:00:00 GMT

There are way too many unethical Realtors and Loan Officers in the Industry. That is why the foreclosures are so high today. Some Realtors don't want to hear you say they need to wait, they want the deal now. Then they don't send you any new businesss because your not doing what they want. It's the clients responsibilty to be educated. Would be nice if all of us in the Industry would treat each other with repsect and do what is in the best interest of the client.

RE:NAR Counterpunches After 60 Minute Segment on Discount Agents

Sarah — Mon, 28 May 2007 11:00:00 GMT

Some Realtors are slackers,but work is work nothing comes easy.Service industries are difficult because the product we provide isn't tangible so it's hard to see that it's there at all.We take on a lot of headaches to make the process easier for our buyers and sellers. Some Realtors make a lot of money, but you don't get something for nothing.If you work hard you make money, no matter what industry you work in.

RE:NAR Counterpunches After 60 Minute Segment on Discount Agents

Sarah — Mon, 28 May 2007 11:00:00 GMT

As a real estate agent just starting out, if I sell a house sometimes 6% is split 4 ways!! I don't pocket all that money.So, from a 6% commission I would walk away with 1.5%, which is a lot less than 6%.I've been an agent for a few months and I have sold nothing yet.It's not a dependable 9-5 job with a set salary, so there has to be some incentive to work weekends and holidays and late nights and to coordinate the many people it takes to make a deal go through.

RE:NAR Counterpunches After 60 Minute Segment on Discount Agents

Lene — Fri, 25 May 2007 11:00:00 GMT

Oh Please!!! Folks... do yourselves a favor and do your homework! Ask questions, research your chosen area, find out and get in writing what your agent will do for you. Acting out of stupidity and blindly hiring an agent without knowing their practices is your own fault. I have bought and sold numerous homes as an investor. Now I have a Realtors license. Yes there are unscrupulous folks in the trade. But shame on you if you ignore your own responsibilities and blame others for it.

RE:NAR Counterpunches After 60 Minute Segment on Discount Agents

Tom — Fri, 25 May 2007 11:00:00 GMT

I'm certain that the 60-minute report on Realtors was too true for comfort with the Realtor community. Hence, Realtors are upset that their reputation is being tarnished. The work that an agent puts into a transaction, clearly doesn't merit a 6% commission from the seller (builder or private seller), but when the mortgage consultant (which I am) puts a 1-1.5% origination fee, hands start flying in the air and we need to justify, or discount our fees. Realtor, stop the drama!

RE:NAR Counterpunches After 60 Minute Segment on Discount Agents

AL — Wed, 23 May 2007 11:00:00 GMT

I totally agree that realtors are probaly the most undeserving, overpaid salespeople out there. I have never had a problem with people making a commission if they work for it but that is hardly the case. I also blame them partially for the sub-prime mess. If realtors did there job properly they would make sure a client could actually afford the house that they are about to put a contract on. They used interest only, 100 percent loans and used stated programs to line there LAZY pockets.