Judgement is more important than a license.
Here is classic mistake done by a flipper. Bought a house cheap, dumped a bunch of money on cosmetic renovations. Forgot why it was cheap, on the corner of two very busy streets. No privacy, no dock on a land locked water way. Will be lucky to break even.
Look how low the zestimate is. $631k asking $799k
https://www.zillow.com/homedetails/2177-15th-St-South-Lake-Tahoe-CA-96150/18571839_zpid/
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Hey @LbJW, I think you meant to respond to the OP. I am with you, leave the big money deals to the experts who can handhold you through…the price of admission (5% maybe if selling) is not worth arguing about.
You offer full price and get a credit back for the commission. Has saved me hundreds of thousands.
Even without an agents license find a buyers agent that will work for 1percent and will kick you back 1.5%.
The listing agent has no incentive to give you any kick back.
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That was my thought as well–the cash would come in handy up front.
We’re working with Redfin, but the kickback has gone down significantly. I think it’s $10K now for a BA house instead of $15K.
Agents have E&O insurance. So unless you are actively trying to screw people you should be fine. How often do you see agents getting sued? Not often I would say. Also the broker may get sued instead of the agent because brokers have more responsibilities and more money.
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You are much better off with an independent broker, they will go for a 1percent commission, especially if you find the property…
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Around 1k a year.
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