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HungryAgents.com Helping Agents Become More, Well, Hungry

I ran across this website the other day, HungryAgents.com. It is a site that allows agents to provide "Full Service Real Estate" services while under-cutting one another's paychecks for a change. This saves the whole ugly step of having potential clients ask for a cut in your paycheck and sanitizes the experience for them. Look at their cute logo. Yep that lapdog represents you, a REALTOR(TM) because they will only work with REALTORS(TM) since REALTORS(TM) have great ethics.

So we only want to hire ethical people, but we force them to pay for your business in a most unethical set of circumstances for the opportunity to meet you.

But don't stop there, after you buy business by cutting your paycheck, thereby fitting into the "Hungry" category, then they have the gumption to require a $795 flat referral fee, this is the final insult that puts you all the way down into the "Starving" category.

I have nothing against other Real Estate business models that offer variable service, and variable pricing structures. This concept to me is not what that is, this is a business built on top of the Full-Service brokerage model that ruthlessly double bills the agents, who have the tightest margins of anyone in the business.

This puts a whole new meaning on "putting the squeeze" on somebody.

Thoughts?

Posted by Rory Siems on 03/25/2007 02:26 AM

Comments (55)

55 Comments on HungryAgents.com Helping Agents Become More, Well, Hungry

MAR

2007

I went to the website to check it out. How incredible! I can't imagine that someone would want to list their house with a hungry agent. Can you imagine waht that seller would be like to work with!!!

MAR

2007

I vote we STARVE them to death!

Marchel, I agree with you.... a total nightmare. I hadn't heard of this specific site before - thanks for bringing it up. I can't see why any agent would feel the need to join. It just screams red.

Rory,

Thanks for the post. I find myself echoing Laurie Manny this morning, on more than one occasion. I too say starve the varmints! I am always amazed by the proliferation of bottom feeders looking to suck the life blood out real estate agents with all of their gimmicks.

I say raise the Commissions from 6% to 10% so it equals the increases in the costs of living!!

Rory,

thanks for posting it, I will take a look

Best Regards

I don't believe this company will survive. The name in itself is insulting. Any agent who signs up deserves to pay and lose the money. The worst!

I recall hearing one of the national talk show hosts recommending this service. Can't remember if it may have been Clark Howard or maybe O"Reilly. It was quite awhile ago. The idea is disgusting.

Hey wait a minute, that dog looks a lot like my westie and I know HE doesn't want me to cut back on his brand of food! LOL! I guess I can't sign up.....

I'd love to know which agents in my market are playing!

I think clark howard reccomended this site. Surprise! Surprise! Most of these agents will not be in business soon.

At first look it seems to be a joke website.

I wonder if the public was charged $795 to get a list of hungry agents, would they would actually think it was a good deal? The agent pays but then has to tack that on to the price they charge the consumer. Some limited service agents charge less than $500.

Maybe a site should be set up for desparate home sellers. It would be interesting matching desparate home sellers with hungry agents. You might be able to generate some great deals there.

Everyone thinks that agents have the big pockets. And still others are always trying to make a $$$. What a shame.

How any REALTOR would think this is good for them is beyond me. Maybe it should be called DESPERATEAgent.com

WHY ARE WE GIVING THEM ALL OF THIS FREE PUBLICITY?????

They've been around for over a year that I can recall and are NOT exactly a household word.

Don't give them notice. Active Rain get's crawled you know.

These are fringe sites and they have always been around, are around now and will always be around. As long as agents cooperate and feed them, they will thrive. Don't blame the web site owners. Don't blame the consumers who don't know how things work.

The responsibility is with EVERY SINGLE agent/broker that uses their service.

We have to take back our own business! This is what is so great about the concept of AR. We shouldn't have to pay to service the clients who want our services. We can make great connections on AR for referring business to each other, offer a higher level of service to the consumer and not play games. I think the free market will take care of things.

Would you really want to work with someone who would sign up as a HUNGRY AGENT? Why are they hungry? I would think they should name it DESPARATE AGENTS.COM

I'd rather get another job to support myself before I would ever want to be labeled as a "Hungry Agent" that joined there.

This is in response to what Lenn said; that really made sense to me. Maybe this should be made in to a members only post so it doesn't help them in any way. AR is coming up high in the search engines.

I took the test to become a H******A****; didn't qualify. ;-)

Like Zi**** and the rest of our cyber foes, the more mention we give them the better they become known.

I gotta agree with Lenn about the attention. I will say though, nice post Rory and I don't think stuff like this will last, let alone pass the litmus test on being able to truly do the job the real estate profession mandates. It is survival of the fittest, not of the 'so-called' cheapest. Now, what was that site again:-)

All the agents on Active Rain should join and all bid the same percent - thus making the website nonfunctional. Sort of like a reverse boycott.

I do not agree with this site.

How many people will someone go through? To cut value and service?

I'll stay at a flat 6%

There is no end to the money-making schemes out there. I agree with Laurie - let 'em starve. Just imagine the clients that could help you put bread on your table...NOT.

Jeff

I saw this two years ago. I am not to worried if you want to hire an agent thru a website with a logo of a dog begging for scrapes then be my guest.

Hi, Lenn,

I agree that if Agent use the site it will tend to stay around. Part of the goal here is to educate agents about the site so that the may decide the pros or CONS to using such a service. Notice how I mentioned the website URL, but I never once made it a live link?

- Rory

Tim,

Unfortunately, this site is NO Joke. It perpetuates the myth that Agents are sitting on big stashes of money. Great points, though, would anyone pay $800 for a list of leads who are folks that already don't want to pay you what you are worth? You can find those people everywhere.

I would never use that site, for the same reason that I don't buy leads. There are plenty of leads to be had "out in the world". Why would I pay for something that is already free? Or in this case, why would I pay for it twice?

I feel sorry for any agent who would want to work for a $14.95 check when all is said and done. After paying everyone off, you have to be close to make .05 cents an hour. I just hope a newer agent doesn't fall in to the trap, thinking it will get them the first sale of their career and lead them to a road of riches.

Thanks for the heads up Rory. I'll take a peak. I think it's sad and newer agents don't fall into the trap. I think no one in this business should discount the services they provide...

Scott

They are touting full service just like some of the other major discounters. This is just MORE reasons why one should get a buyer's agency signed when they meet up with buyers.

I love Jeff's comments about hiring an agent represented by a dog begging for scraps. I guess this is one of those things that will weed out the new folks that are not smart enough to make proper business decisions. With many new agents coming and going every year this is just one more "money drain" that will contribute to the demise of the new "hungry agents"

That sounds ridiculous. It's unfortunate that these websites aren't required to disclose what they actually do with consumers information, which is sell it back to desperate agents. I'm not one for congress being involved in business although I'm thinking legislation on minimum standards of service is not a bad idea at this point.

There is always some agent willing to sink a little lower... I'll save myself the visit and ignore the site... When I'm hungry I'd rather go out for a nice lunch...

Real estate sleaze. Avoid the site and do nothing to increase their traffic.

Roberta, that's is a shame it has a lot of ranking.

Also, they should not contaminate people with that ...... Nothing is free, if you want a good service, you need to acommodate to standards, well, no offense for those with that company, I respect it, but I have seen comissions on help2sell, assist2sell and they are supposed to offer complete full service as other real estate agents, but to tell the truth, I do not see full service, it is just what it says assist or help in a lite way. maybe I am wrong and correct me if I was wrong.

Rory,what can I say? How sad that anyone would put their name out there for this...and how stupid are the Buyers and Sellers that will actually want someone that is a "Hungry Agent?" That type of mentality, I don't need. Another one who is trying to slither into the pockets of Realtors in order to make a fast buck!

I'm always hungry BUT I like expensive food. So I guess that site won't work for me. I too heard of this site about a year ago. I just hope the consumer is being protected no matter who they hire and how much they pay.

I just now found out about this site. Since I refrain from selling homes offered by discount brokers, I'll really stay away from this one. It is my opinion that discount brokerages harm the industry.

Am I just contrary or what? Hungry Agents has been here in St. Louis for a couple of years now and I think that I might have been one of their first brokerages to sign up. My company, ValueList Real Estate Services is indeed a "Full-Service/Discount real estate and mortgage company (if you like, feel free to check out our website for more information about how we function www.valuelist.org) and as such, Hungry Agents is simply another way for me to advertise my company and our business model.

That said, I wish that they would do a better job of policing their ranks regarding the "full-service" aspect of the companies that bid on there.

Bob

What we think of the discount/competitive website (people buy insurance this way; they bank on the internet, etc.) is completely irrelevant. The fact is, people are turning to alternatives provided by the internet, and if this website collects good agents, it's a great alternative for SOME PEOPLE. Other people need the interface, and may or may not pay more for it. While I sense an indignant tone in the responses, the bottom line is, if people use it, good agents should consider it. The only perspective that matters is the seller or buyer, and this is another way to make contact.

I saw this site about a year ago and figured it would never be much of a force. Note to sellers: If a listing agent can't stand up for their own value, how do you expect them to fight for you when it comes to maximizing your net??

Sadly enough these guys are about six blocks from my home and office. They use to be local brokers in Webster Groves (St.Louis area) and then suddenly decided to become anti-agent I guess. I've completely ignored them and don't see much local advertising about them. You would have to be a pretty desperate agent to want to sign up with someone whose business model is to pay you less. Do they think that the consumer can't negotiate on their own?

MAR

2007

This is the kind of thing that gives us agents a bad name. What ever happened to client relations, one on one interviews and actually earning someones business? We've now resorted to bidding on a listing based on our 'full service' commission fee. If I were a seller, I would not consider my listing very important if I weren't paying my agent an appropriate fee. Is is the agents to blame or do we need to hold brokers more responsible?

www.marykay.com/amylaws

I hope no one objecting to this curious little website has "Million Dollar Producer" on their cards! This just feeds into the perception that we Realtors are all wealthy fat-cats, deserving to be "clipped" by the poor sellers who are stuck with their over-priced under-condition properties...

John Novak- PLATITUDES! Your value isn't determined by your opinion of yourself (I'm talking generalities, not about you specifically. You're likely great at selling yourself). Your value isn't even in the picture. Real estate is to me, a public service. If the public, as recently indicating, prefers to "shop around" on whatever web site for a lower rate...either offer it, or look a bit "puffed up" attempting to describe marketing that has very little new to it- except...you! Sell yourself or lose the listing, because the smaller guys (Options Realty) are looking to offer the same services that charge 6%, but better the whole experience as...A BUYER, OR A SELLER.

Wow, I've never heard of this site before. The dog on the home page is terrible! I wonder how many agents actually sign up for this membership!

I have been starving, but I made a business decision that I would not cut my salary just to compete with the discounters. If your agent is too weak to stand up for his own money what is he going to do with yours?

OCT

2007

Wake a up and smell the coffee...how much have you sold this year? so what if you sell one or two on this website? You can always convince mom and pop who walk into your office that you deserve the 6%...even that grandma to pay you 7% percent...Discounters are taking over, and it is past due. Commissions will be reduced to less than 2% in 10 years, so you better position yourselves, or fall hard... Cheers to all, and Mark my words..

Dear A Chicago Broker,

That is some pretty strong smack talk from someone who isn't even brave enough to identify himself. How much have YOU sold this year? How much time and effort do you spend actually working for your clients? Are you telling us that your time is worth a whopping 8 cents an hour? Show us the numbers, tell us who you are, and then we can have this discussion. Otherwise your drive by, double commenting lameness belongs on Digg.com or somewhere else where lack of analysis and facts are embraced.

- Rory

JAN

2008

Come on... you guys make like 18K in commissions on some houses! And for what? List the house and show it to a few prospects?! No thank you! I seriously don't get it!

I just signed up with them. I got screwed the first time, paying that 6 percent. No more! I'm using HA this time!

Petey

JAN

2008

I'd use it: Go ahead, Since experienced agents know the value they provided you will get a new agent and no fiducary duty.

MAR

2008

Petey,

I am with you 100%.

MAR

2008

But should this practice be illegal? Many people - most real estate agents - sure think so. I disagree, and find this stance very anti-consumer. Hey, I can understand not wanting to lower my income. But that's capitalism. If an agent can operate well without rebates, then they should do so and refuse to offer any such rebates. But if someone else is willing to negotiate their fee, what's wrong with that? I feel that like for any service provided, both the price and the features should be negotiable. Imagine every car costing $20,000 no matter what, every computer costing $1,000, every haircut costing $50. Yes, a discount agent might offer discount service. But a full-price agent can also offer poor service. In the end, each home buyer should be able to make their own value judgments.

Even our current arrangement is primarily a result of legacy and tradition, not logic. Until the 1990s, in many states there were no "buyer's agents" at all. All agents represented the seller, which means they had a fiduciary responsibility to the seller - and only the seller. Only within the last decade or so have agents who solely represent the buyer become widely accepted. I believe commission rebates are simply the next evolution in real estate practices.

In the end, not everyone has the same needs. If someone wants a full-service agent who works for a big company like REMAX or Century 21, who will interview the client and figure out the best neighborhood for them, call them with updates every day, and drive them to each house in their nice car (why do they all drive either a Benz or a Lexus?), then they should have the right to do so. On the other hand, my agent has almost 20 years of experience, and is her own principal broker. She drives a Honda Accord, and I've never been inside it. We get full MLS access and we e-mail her what houses we want to see. We already have a lawyer who reads real estate contracts all day long in the family.

In addition, if price is such a key ingredient to agent quality - why can't I offer $5,000 plus the 3% commission to my buyer's agent? By that logic, that should get me a sweet agent who'll bargain the pants off the seller and get me a house 20% below market... right?

JUL

I just wanted to thank activerain for pointing this site out. As a seller of two homes now, 6% commission is just ridiculous for most of you agents. 95% of you guys don't do jack, and in the end, you get $7k+ or so for commissions on a 200k house? That's just insane!

I signed up for the site a few months back, found a great agent listing for 1.50% commission, offering the buyer's agent 3%. I was able to save 1.5%, and that gave me an extra few thousand in my pocket.

You realtors would think about thinking outside of the box, and thinking about your prospective clients, rather than your own pocketbook all the time. Shame on you!

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