Quote:
Originally Posted by lawn psycho
The reality is every person involved is sucking money away from the seller. A lot of conflicts are involved and you don't always know who's aligned. My wife works in the mortage lending department of a medium sized bank. She'll tell you first hand that most brokers are more concerned about the commission line than any other part of the documents.
I'm not saying RE agents are bad but the model for their usefulness has not caught up with the times of an internet savvy consumer. 6% commission, even when divided down, are not justified on most homes. Maybe RE agents and the music labels should get together and learn to adjust their business models with the times.
I'll never use an agent again as all they've done is cost me money......
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Mortgage brokers get paid on comission too. Any time someone is doing something for you they are going to charge you money. Comission, margin, etc. whatever it is.
Most real estate agents are 100% comission based, pay for all advertising costs of a property, open houses, etc etc.
6% is a negotiable number, as with everything else in buying property, so isnt the comission for the agent. At least with the RE Agents its disclosed in plain black and white what they are making. Not the case with the guy selling you that new pickup or boat.