Viewing a single comment thread. View all comments

davesellsnseattle OP t1_j6516bu wrote

Reply to comment by middleagerioter in I am a Seattle / Tacoma Area real estate broker. AMA by davesellsnseattle

and everything I hear on the media sounds like fear-mongering BS.

Realtors are licensed by the state and required to act as fiduciaries. Used (or new) car salespeople are neither. That comparison is just another red herring people cling to to make sense of things they dont understand.

I am willing to show anyone real, current, actual sales numbers and prove that the only thing falling is what home sellers have been asking for. Actual closed sales PRICES are NOT falling. Not at all.

0

middleagerioter t1_j652p2v wrote

Car salespeople do, in fact, have to be licensed by the state--Not just the dealership, but the salespeople, too.

​

I also hold several professional state licenses and that just means I have to pay a fee to the state every year after taking an original test on the subject matter.

​

Marketing is just a gimmick to get people to spend their money over here and not over there. Anyway, real estate agents are overpaid for what they do, IMO.

1

davesellsnseattle OP t1_j6540ct wrote

I'm glad to hear they are licensed in your state. They are not everywhere. One thing is certain, licensed or not, they are not looking out for the buyers interest. They are trying to convince the buyers to buy for the benefit of the salesperson & the dealership, and THAT is far shadier, IMO.

Real Estate Broker are one of the only remaining service providers who try to truly act in the interest of their clients. Attorneys.... that's also their schtick. No one else that I can think of truly advocates?

0

middleagerioter t1_j654w6c wrote

Man, y'all are just trying to get that 6% commission in your pocket!

2

davesellsnseattle OP t1_j65nc1c wrote

Well, I do go to work in exchange for a pay check, just like you do.

A note about the 6% tho: half of that is designated for the buyers broker, the other half for the sellers broker (generally), That means, if I represent the seller, my company gets 3% of the sale price when we are closed.

My cut of that is 64% of that 3%, before I pay taxes OR expenses (like paying for photoshoots, videos, floorplans, virtual tours, flyers, signs marketing specific to the property, and employees.

So, on a $400k sale, my Company makes $12k. Of that I get $7680. Then I pay taxes (35%) leaving $5376 to pay expenses, employees, then finally, myself.

Average Realtor sells about 8 a year. If I'm average in this business, I'm poor.

1