Re: Buying a home in LA without a realtor
Originally Posted by David Richardson
(Post 5156924)
Ever the curmudgeon, Ray.
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Re: Buying a home in LA without a realtor
[QUOTE=NC Penguin;5156937]
Originally Posted by David Richardson
(Post 5156479)
I hope the OP finds your post interesting... |
Re: Buying a home in LA without a realtor
Originally Posted by NC Penguin
(Post 5149651)
I looeked at zillow.com and I think it proved to be rather inaccurate for my neighborhood. The values on houses were from the tax appraised value which is actually out-of-date for my city (city tax appraisals haven't been done for at least five years I believe). The homes in my neighborhood have appreciated so the zillow.com figures are not meaningful.
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Re: Buying a home in LA without a realtor
Originally Posted by Ray
(Post 5156940)
Attempted scam by Realtors made me that way ...
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Re: Buying a home in LA without a realtor
Originally Posted by KJ2007
(Post 5156945)
Our neighbor who is a realtor told us that Zillow is at best, misleading most of the time.
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Re: Buying a home in LA without a realtor
Originally Posted by David Richardson
(Post 5156957)
Hang on, I've got tears running down my face.
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Re: Buying a home in LA without a realtor
Originally Posted by KJ2007
(Post 5156945)
Our neighbor who is a realtor told us that Zillow is at best, misleading most of the time.
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Re: Buying a home in LA without a realtor
Originally Posted by Giantaxe
(Post 5157073)
Remember that services such as zillow are a threat to realtors' precious 6% commission, which they go to lengths to defend (as we've seen recently on this thread). Having said that, I'm not a big zillow fan, particularly for the changing market conditions that many areas are now seeing.
In CO the split of 6% is 3.2% to Sellors realtor, 2.8% to Buyers. How it gets shared around is a seperate issue, my guess is that the IRS get a chunk. Still a significant cost to the Buyer. |
Re: Buying a home in LA without a realtor
Originally Posted by Giantaxe
(Post 5157073)
Remember that services such as zillow are a threat to realtors' precious 6% commission, which they go to lengths to defend (as we've seen recently on this thread). Having said that, I'm not a big zillow fan, particularly for the changing market conditions that many areas are now seeing.
this is something i realised after the first day of licensee training, and felt sorry for the poor sops who thought that getting that license was a way to a good income... needless to say I just use my license to get a discount on properties I buy for myself... |
Re: Buying a home in LA without a realtor
Originally Posted by BritGuyTN
(Post 5157112)
dude, you're missing the point the guy from GA made - I can say that in 99.9% of circumstances a realtor will not make 6% from a deal. 5% in extreme cases (before income tax), but in the majority of cases its more like 1.8-2% before income taxes.
this is something i realised after the first day of licensee training, and felt sorry for the poor sops who thought that getting that license was a way to a good income... needless to say I just use my license to get a discount on properties I buy for myself... Here are some examples: http://www.usdoj.gov/atr/public/comments/212656.htm http://rerclaw.blogspot.com/2007/06/...-michigan.html http://www.inmanwiki.com/Real-Estate...ce_Legislation |
Re: Buying a home in LA without a realtor
Originally Posted by BritGuyTN
(Post 5157112)
dude, you're missing the point the guy from GA made - I can say that in 99.9% of circumstances a realtor will not make 6% from a deal. 5% in extreme cases (before income tax), but in the majority of cases its more like 1.8-2% before income taxes.
this is something i realised after the first day of licensee training, and felt sorry for the poor sops who thought that getting that license was a way to a good income... What they get net is not my concern or interest. |
Re: Buying a home in LA without a realtor
Originally Posted by Boiler
(Post 5157161)
The issue is how much it costs me - or anybody else.
What they get net is not my concern or interest. 6% to calculate into your price is a good whack compared to 1% in Britain. |
Re: Buying a home in LA without a realtor
Originally Posted by Sally
(Post 5157166)
Nobody gets everything they "make" for their company or organisation.
6% to calculate into your price is a good whack compared to 1% in Britain. I think people are amazed that such a process can be so simple. Of course I realise there are plenty of pitfalls and horror stories on both sides of the pond. The realtor system here though seems so antiquated and 'mom and pop'ish. In some ways it's quaint and cute in others just stupid. So many middleman trying to get their share. In UK as a buyer my lawyer would do everything I need, the only thing I need organise is money and inspection. I am sure that when you cut the bull*** out here its the same. I just cant trust any realtors here, even a good friend of mine who is one suddenly whipped out a contract and asked me to sign on the line for a 3% fee! |
Re: Buying a home in LA without a realtor
Originally Posted by angelman
(Post 5157189)
I just cant trust any realtors here, even a good friend of mine who is one suddenly whipped out a contract and asked me to sign on the line for a 3% fee!
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Re: Buying a home in LA without a realtor
[I just cant trust any realtors here, even a good friend of mine who is one suddenly whipped out a contract and asked me to sign on the line for a 3% fee![/QUOTE]
If you were a Seller he/she would need a contract with you to list your property and thus a 3% fee. But you're a Buyer.....he/she should get the 3% from the Seller not you. |
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