CATHY SLOAN's Discussions

Take a look at Realty Trac listings in your area on Trullia.com  They list the foreclosures and the  pre-foreclosure properties that have lis pendens filed in public records.  Might give you some insight

Callista Jose's market isn't shut down its just that a 38 month supply of homes means that for every 76 homes on the market 2 will sell.  Jose's home just isn't one of those two.  Canadians & Europeans are buying in Florida  Jose's house does not appear to be  marketed  internationally he's missing potential buyers  

Alp Sure the Rich.  But the upper middle class are making there way to North Florida.  I'm sure a few found Naples.

Chad $395 listing, $125 for virtual tour, $95 for a standard MLS lock box.  Call capture sign not sure if they pay $25 for sign. They sign a 6 month listing agreement.  If the home sells for $1500 you'll handle the contract to closing.  If it does't sell and they use one of your "referral" agents you'll give them back $495.00 and you get to keep the remainder of the 25% or 30% referral fee your going to get for referring if it sells. (sweet) That should net you a nice income.  Everyone has their niche.  I would think you are doing a service ,a lot of lazy agents offering commission discounts and no service can't stay in business too long with you around. I agree with you that there are a number of agents that don't do much more than your are doing for the $395 and frankly many do less.  I hate the listings that have 1 photo in MLS an all the other related sites and no description.   In our area the majority of listings by companies such as yours show up listed by a full service realtor.  If that is the case in your area you must do well on the referral end. Realty times stats:1. There is an average 1st year failure rate of 86%. That works out to 30 agents remaining in the industry for every 200 who try.2. Only 7% will renew their license.3. 76% of the industry is earning less than $30,000 per year. Sounds like your not very popular with your Realtor peers.  

Oh by the way Chad, genius!  I mean that sincerely.  I'll keep nurturing my past clients and offering excellent service.  Hopefull their will continue to be enough room in the industry for me and guys like you.

Many new agents sit open houses for more tenured agents that cannot be a 5 open houses at the same time.  So you could be right that the agent did not know as much a you do about an area. Many agents are not familiar or have experience in working with Bank foreclosed homes or REO property.  Follow this link for some advise about purchasing foreclosed property.  Perhaps your agent is clueless.http://realtytimes.com/rtpages/20071207_buyreo.htm You need to research the Reator you choose to work with.  Check out the number of years or the number of transactions they do a year.  Find out their level of experience.  Everyone should interview several agents before they choose one.   Once you have talked with a few you will know who sounds credible.  There are a few books on the subject at the book store.  Just pick up one and read the few pages about choosing your realtor.  You'll get the idea.   

A Realtor should spend a certain amount of time determining what you are looking to purchase and helping you to find a reliable lender.   Once you have a pre-approval letter from a lender the Realtor shoud research properties, provide you MLS listings discuss the listings you like and show the properties to you.  If you ask questions about crime or demographics your Realtor can direct you to resources for you to research.  However the Realtor, by law cannot actually tell certain statistics.  A Buyer's Agent should do a market analysis on property you are interested in purchasing.  Discuss negotiating stradegies with you and in many areas of the country they write the offer to purchase.  Buyer's agents in states that allow the agent to write the offer must write the offer to protect your best interest. This includes adding certain conditions or contingencies to protect the buyer.  Once the offer is accepted.  The agent must monitor all the conditions and contingencies making sure all are done within the time limits of the contract.  In our area a Realtor  orders title insurance, home inspections, WDO inspections.  The agent must be diligent in making sure all things happen when they are susposed to.  If repairs are necessary they get involved to be sure all is done properly.  They review closing documents and you all go to closing.  This is just the things I can think of off the top of my head.  There are a lot of other steps as well.

Chad Your flat fee operation sounds like a good deal but I can tell you Flat fee in many areas is not anything like the flat fee service you offer.  You rival the marketing efforts of some full service realtors but you are the exception.

Rangersmom How much is he offering to the Buyer's Agent.   Does he have to offer a higher % to the Buyer's agent to be effective in your market.   Did he sell your old home himself and give you a break on the commission ?

Some of the brokerage firms in our area  allow the agent to discount the listing side fee but the entire discount comes from the agents portion of the commission.  Thus in Chad's scanario, using $5,000 ,if the agent is on a 50/50 split with their broker. The Broker's commission is $4185.  Your agent would get $ 815.   That amt won't even market your home.RE/Max agents have more latitude because they are on a higher commission split.  I always give my past clients a break on the commssion.  It is a standard discount amount for Resale only, and a rebate of commission on purchasing.  Currently in our area listing commissions are 6.5 to 7.5% with 3% to the selling agent.  My past clients have never complained