You are 100% right.

I am the owner of a flat fee realty in the republic of panama. We only sell condos in panama city.

Peolple love ou business models and we turned positive in 1 year.

Of course like any other company you have to be careful with the expenses of the company but its a proven model (look at redfin).

Best,

Sammy Wolcovinsky
panamaflatfeerealty.com
Panama Real Estate for a fee!

Here’s what I”m talking about: http://www.beneaththecover.com.....gle+Reader

I see someone’s had their wheaties today… For the record I’m still waking up over here on the left coast – thought I’d roll around in my bed full of 6% listings… ha, are you kidding me?

Just so you know, I got into this biz because I too thought that Realtors weren’t worth 6% or even 1%… At the time, and as an investor, all I wanted was a “Supra key” and access to the local MLS so that I could bypass which ever side of the transaction I was planning to work on. In fact I even thought the commission splits within the Brokerage were such bull that I started my own company.

It wasn’t until I actually started doing the work, day in and out that I really appreciated the trade. In the course of my experience, I have been humbled by many a great realtor – and come to have quite the appreciation for the value of a good agent.

I like to think of our “debated” options as the equivalent of an oil change. Sure I could get under the hood and dirty; but for the same fractional price of taking your car to Jiffy Lube and getting the 110 inspection… I’d opt keep my hands clean and let someone else do it. Sure I’d still try to “cut a coupon” or drive in during a special – ie negotiate… Unless, you’re in it that skinny – to which you need a Short Sale expert.

Time is money – and sure you can educate yourself ad nauseam on the internet, but that isn’t like taking the training wheel’s off in the real world. Fortunately there are enough simple deals to make people feel good about their home depoe’ness – and to your stance, yes,.. A legitimate way to go when you’re surrounded by morons. lol

I’m just saying that there are many cases where the sales price is determined by the market – the final sales price is determined by the person running the deal. 6% is half courtesy to the other side, the ability to play poker lies in the cards you were delt. Look well at your cards before you deal… and take your intention out of the game if you can re: Seller’s & Brokers alike.

All the best to you – I know your gig works… So does mine and it’s not always 6. Doing things on your own is typical of our culture (I’ll leave it there)… Let’s not be hateful on people making money, it’s simply un-American

Peace… I gotta run to another 6% listing now.

You should wake up, respect, and not discount how smart today’s sellers are. Selling a home is not rocket science, nor does it require a license. Most folks that use our service are educated on the selling process (or have already been listed with an agent – didn’t sell) and they can negotiate a decent price on their own.

As you stated above, it’s the market [buyers market] that determine the sales price, so agent or no agent… it’s all about pricing and exposure.

Since the Seller is the one who negotiates the commissions; and for the most part (and in most parts) these are Short Sales &/or REO’s. Shouldn’t we ask one of our 3 remaining banks what they think?…

Personally, when working as a buyer’s agent – I love dealing with “educated” sellers who list with a discount fee agency or FSBO type site – Limited Rep etc… It’s almost as fun as a “moron” with a license. Trust me they would be better served with a competent realtor, 6% is nothing compared to what they are availing themselves to.

At the end of the day this is a business unlike a Subway shop… At Subway, even if you fork out fecal bacteria on every sandwich you will still have another sucker waiting in line. On the other hand, a realtor is a stand alone business system on their own. That person either sinks or swims… (unless you do everything for nothing) Market forces will determine, just like the final sales price.

In the end 6% is a lot for a moron. The next 60 minute’s article should be on how to detect one. If you hire the right person it might be the best 6% you ever spent.

The industry is not going to change anytime soon, but how we conduct ourselves and the service we provide our clients is something that each one of us can change.