AVID was my first thought as well… requires buyer’s agent to visit the site and do a visual inspection (Agent Visual Inspection Disclosure)
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OK then. Your answer is a non answer. Please refrain from getting angry and just stop.
Well sure. If it’s what’s required, then I’ll gladly increase my flat fee to cover the extra legwork. To how much? $450? Because AVID is absolutely necessary?
Been doing this since 1976. When you come up with a magic solution to cut out the realtors please share with us. But realtors control the MLS and the buying process. If we knew a magic short cut we would use it. Maybe you should just put an ad in Craigslist saying you will buy houses for cash… works for some people. And cuts the realtors out altogether.
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Your best bet is an hourly agreement. I think $250/hr may work for a desperate party, maybe with a minimum $1500 nonrefundable retainer.
It is not going to help getting any offer accepted.
You will only be able to hire an unknown agent that way. Not one that has a good reputation among other agents.
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I wonder if the op goes into Starbucks and negotiates the cost of a coffee? In my 40 years in RE 1% is the best deal I have received. Anybody done better?
Except when I dealt directly with seller. Maybe 3 times in 40 years and dozens of deals.
RE is a business. Learn the business and then figure how to game the system.
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It’s none of my business but @Elt1 and @ptiemann I think you should stop responding to him. This guy has no gratitude whatsoever even though you guys gave him valuable feedback. He doesn’t deserve your kindness.
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I know. But I was hoping he could come up with a new system. Redfin sure didn’t… lol
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With current seller’s market, you do not need to call, but automatically his offer rejected unless he exceeds the top price !
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I disagree with you. We’re closing with Redfin. They just need to figure out their sweet spot for making a profit.
And I’m still meeting agents that are taking potshots at Redfin. Pretty clear they fear them. The last one said “You know you get a 1099 with the rebate.” I guess that was the best he could do.
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He’s not angry. This is his normal demeanor. Try to get to know the players here on this forum before you chastise them.
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There is a way around the 1099. But this guy wants to spend $300 instead of $30k. Maybe he is naive enough to come up with a new system. Certainly didn’t want to hear about the harsh reality of the RE business. I don’t know why just didn’t ask his own network or retired RE licensees?
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Yeah I hear ya… I’m not sure $300 is worth it. Seems like even tagging all the documents in docusign would take a while.
Most realtors like to work with people they know. If they don’t know the person, they want to see the person either have a lot of experience or working for a larger brokerage that they know will be mentoring a new agent. We’re talking $1M+ transactions. No one wants to have that go wrong because someone didn’t know to file paperwork the right way.
Is this in the Bay Area? You’re wasting $300 writing a low ball offer.
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Yeah, it is an interesting discussion, but not practical. In today’s market, buyers are willing to pay $50k-100k extra (and sometimes even more) to just buy the house. Saving 1.5% on $2M contract ($30k) is least of their concerns.
Also, on peninsula, buyer agents often need to be present to present the offer. So does your $300 fee included that? Or you can represent yourself, but then another red flag to the sellers.
Having seen practically multiple bidding wars recently, It is very difficult for him to win the bid in this seller’s market.
He is truly naive and also counting penny in real estate when bidding wars bring up the bids to 200k to 700k over list price !
Even if someone asks $3000 for this, I really doubt any one is willing ! The only way for him to be an agent to cut the cost !
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This thread is so funny. I wonder if he will actually pay $300x 10 for all the rejected offers.
I agree with ELT, 1% is as good as it gets. In fact when I work with a buyers agent, I seldomly ask for credits unless they offer because sometimes they would offer you their off market listing first.
Oh such sacred percentage commission!
All this protectionist stench, in an anonymous forum of all places, is quite hilarious. Yet being a Redfin site, it’s understandable. You fear the ruin of your online reputation. Although lack of comprehension or zero empathy for the buyer cannot be entirely discounted.
If a buyer finds a house on his/her own and knows exactly what price to offer, then the mere paperwork is your golden goose for income! Fully understood! Don’t mind that I’m talking only about NON ACTIVE people who happen to hold an RE license.
It would be more sincere if you just proclaimed, “sorry dude but our cartel is designed to lock you out unless we get tens of thousands of dollars in commission for no effort. Listing agent does all the work. Just the constitution of our monopolizing cartel, and I don’t dare comment on how to sidestep it.”
This is why, in proper reciprocating manner, I’ll have to shrewdly manipulate all you buyer agents with scoffing impunity. I’ll work you hard to “find me a home” and won’t give you a dime unless my offer gets accepted.
Let the charade continue!
By the way, after my transition this week, I’ll surely get my own RE license for next time. I already hold many advanced degrees and credentials. Piece of cake.
And I’ll come back to laugh at all of you again for such silly scare tactics, such as AVID.