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REALTOR Compensation: A Look Inside The Professional Mind

By Mike Jones

Mortgage and Lending with SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) NMLS 223495

July 06, 2011 05:52 PM

Inner Workings: Mike in Tucson AZ mortgage lender

~ And that's why it works! ~

"Just what do they do for all that money that I wasn't doing?" A FSBO seller was commiserating with her husband about how, after more than six months of advertising with zero activity, they finally hired an agent to list and sell their house. (I'll be real surprised if its not sold before school starts in August.)

"I thought it was going to be so simple..." she continued. "Doesn't it seem like it should be simple? I'd like to be able to get inside her head."

"I know what you'd find," I commented. I've got a photo of it somewhere around here... Let me go look.

_____________________

I'm Mike in Tucson, your preferred Tucson Arizona Mortgage Lender

NMLS #223495

SUNSTREET MORTGAGE LLC ~ Correspondent Mortgage Bank
Offices in Mesa, Tucson, Sierra Vista & Nogales

I don't copyright my photos. It's okay for you to use them.

Right click on my image, copy and use it!

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Michael Setunsky

Woodbridge, VA

Your Commercial Real Estate Link to Northern VA

Mike, what seems easy on the surface as you've shown can be quite complicated. Great Photo!

Jul 07, 2011 02:13 AM

William J. Archambault, Jr.

The Real Estate Investment Institute - Houston, TX

There arecircuit boards and there are circuit boards sadly the same can be said of agents. In eather case a good one is worth their weight in gold, a bad one worth nothing and sone are relics.

If at the end of the deal the seller wounders about the agents value, the agent earned their fees.

If the agent stops a deal they earned their fee! An agent's value is so much more than the sum of the indivilue actions.

"Doesn't it seem like it should be simple? It is smiple when done right by a true professional.

Bill

Jul 07, 2011 02:15 AM

Gina Chirico

Lattimer Realty - Fairfield, NJ

Real Estate Agent - Essex County, New Jersey

It is simple when you hire the services of a professional agent. I think many for sale by owners that cringe at the thought of real estate agents tend to realize after they either try to sell it on their own or actually do sell it on their own, they it isn't as easy as it looks. Hang a sign on the front lawn and it'll sell itself, I don't think so.

Jul 07, 2011 02:56 AM

Mike Jones

SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ

Mike Jones NMLS 223495

Gina,

It's definitely not as easy as it looks!

Bill,

Right you are!

Michael,

Thanks for saying so!

Don,

I will. You, too!

Barbara-Jo,

That's the truth, and blogging will help them understand.

Eileen,

Thanks for taking time to comment!

Larry,

"...not so much Government employees." LOL

Home for sale: Mike in Tucson AZ mortgage lender Kathy,

It's not a dress rehearsal, is it?

Joy,

From the outside, it does look simple, doesn't it? Here's the outside of the home in the photo above.

Fernando,

I don't believe it for a moment! LOL

Mike in Tucson

Jul 07, 2011 04:55 AM

Lou Ludwig

Ludwig & Associates - Boca Raton, FL

Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Mike

Thanks for sharing your insight to a professionals mind.

Good luck and success.

Lou Ludwig

Jul 07, 2011 04:56 AM

Tammie White, Broker

Franklin Homes Realty LLC - Franklin, TN

Franklin TN Homes for Sale

They don't understand two basic concepts: pricing and exposure. Without those, they just aren't going to sell.

Jul 07, 2011 05:05 AM

William Johnson

Retired - La Jolla, CA

Retired

Hi Mike, The only thing missing in that photo is the cob webs. LAMO

Jul 07, 2011 06:06 AM

Nancy Conner

Olympia, WA

Olympia/Thurston County WA

Yep - that photo is perfect (maybe add just a wee bit of duct tape!)

Jul 07, 2011 08:19 AM

Morgan Evans

Douglas Elliman Real Estate - Manhattan, NY

LICENSED REAL ESTATE SALESPERSON

Your picture reminds me of a board game called Mouse Trap, so many things having to come together to have one goal be achieved.

Jul 07, 2011 08:25 AM

Bill Gillhespy

16 Sunview Blvd - Fort Myers Beach, FL

Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Hi Mike, There is a huge difference between something being simple and having an agent who makes it look simple !

Jul 07, 2011 08:36 AM

Carla Muss-Jacobs, RETIRED

RETIRED / State License is Inactive - Portland, OR

If they only knew . . .

Jul 07, 2011 08:49 AM

Lenn Harley

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA

Real Estate Broker - Virginia & Maryland

SIR, IS THIS HOUSE FOR SALE????

For Sale

Jul 07, 2011 08:55 AM

Hella Mitschke Rothwell

(831) 626-4000 - Honolulu, HI

Hawaii & California Real Estate Broker

I think most people would trust to buy a home from someone licensed to do so, rather than from someone who is not. The FSBO seller wants to save the commission, but is he really selling it LOW enough to take that into account? I bet not. Would you trust the FSBO seller enough to buy it "as is"? What's he not telling you? It's always good to have licensed parties in between to even out the playing field.

Jul 07, 2011 09:30 AM

Ken Patterson

TPR Properties - Rocklin, CA

Roseville Real Estate, TOP Rocklin Realtor

I'm with Lenn #12 and #33... LOL!! And there you go!

Jul 07, 2011 10:16 AM

George Souto

George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT

Your Connecticut Mortgage Expert

Mike there is a lot more to selling a house than just putting a sign in the grown, and waiting for the phone to ring. FSBO's usually end up finding that out the hard way.

Jul 07, 2011 02:37 PM

Jennifer Manchester

Suburban Properties of Charlotte, LLC - Mint Hill, NC

GRI, ePRO, ASP - Broker/Home Stager

What is the fail rate for FSBO's now 95%. Oh well at least they only took 6 months to learn they couldn't do it themselves. There is a home near me that has been a FSBO for at least 4 years now.

Jul 07, 2011 03:10 PM

Tni LeBlanc, Realtor®, J.D.

Mint Properties, Lic. #01871795 - Santa Maria, CA

Tenacious Tni (805) 878-9879

Yes, and how much did it cost them to "try it themselves?"

In these days when Realtors are working overtime I can't see how people question how much we do.

Jul 07, 2011 07:22 PM

Anna "Banana" Kruchten

HomeSmart Real Estate - Phoenix, AZ

602-380-4886

OMG Carla is over the top Mike! Look at her mind...... Scary LOL

Jul 08, 2011 02:34 AM

Mike Jones

SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ

Mike Jones NMLS 223495

Anna Banana,

It's amazing! I spent 20 minutes following each little ball to its ultimate destiny. :)

Tni,

They think "It can't be so hard..." and get trapped.

Jennifer,

Four years! Someone's hard headed!

George,

Amen to that!

Ken,

Thanks for stopping by to comment!

Erica,

I think so...

Hella,

You're so right!

Lenn,

You're the best! Thank you!

Carla,

Today, you're my FAVORITE blogger! Where did you find that?

Bill,

Bingo!

Morgan,

I'll google Mouse Trap and check it out.

Nancy,

Duct tape would have capped it off!

William,

I can't believe you're nearly old enough for cobwebs...

Tammie,

That's the long and short of it, isn't it?

Lou,

You're welcome!

Mike in Tucson

Jul 08, 2011 04:35 AM

J. Philip Faranda

Howard Hanna Rand Realty - Yorktown Heights, NY

Associate Broker / Office Manager

Yeah, we just unlock doors and run our hands on the counter. Oh, and we save people from themselves in the biggest transaction of their life. That too.

Jul 10, 2011 12:20 PM