THIS HAS GOT TO BE ONE FOR THE RECORD BOOKS...

By
Real Estate Agent with Johnson Real Estate, Inc. RES.0761759

As some of you may know, I haven't been on AR for a while.  I'm getting calls about people wanting to sell their homes and from people looking for rents.  Neither one of these have been prosperous.  I'm still waiting on the buyers that are serious and want to start looking.  

Today like other days, I received an e-mail from a prior client who now wishes to sell their home.  They don' t have much wiggle room, and can't afford a 6% commission.  This is understandable, and I'd be willing to try to work out something with them.  That is, until I found out that they don't want a Realtor to represent them, they only want me to supply them with a MLS number.  They would take care of all the showings, and work out negotiating the terms, ETC.  They probably would be offering the buyer's agent a 2% commission.

My mouth fell to the floor, and I said to myself "You've got to be kidding me"?  First of all, who in their right mind would work for ***NOTHING***!!!!  That would be where a boss in the corporate world would say to an employee, we need to eliminate your pay so I can keep my cushy job.  Better still would you mind helping me, by paying part of my salary? 

Realtors have to pay into the MLS system, there are CMA's that need to be done.  Plus in order to have a MLS number you need to be affliated with a Realtor/Broker. 

Am I going crazy here? To me this is worse than a seller asking if you will take less for a commission.  Has any other Realtor come across this scenario, or AM I JUST THE LUCKY ONE TO GET THESE E-MAILS/CALLS?

Would anyone work for nothing and chip in money as well, when you have your own bills to pay?

FOR ACCURATE INFORMATION ON REAL ESTATE.. CONTACT YOUR LOCAL AGENT

VALERIE OSTERHOUDT

 

Info about the author:

Valerie Osterhoudt is a Cromwell Connecticut Residential Realtor who can assist you with the purchase and/or sale of real estate in the Middlesex County of CT, which includes Rocky Hill, Berlin, Middletown, Wethersfield, Newington, as well as all other surrounding areas. Please visit me at www.CTrealtorMLS.com for all your relocation and/or local needs.

If you're thinking about buying a home in Cromwell CT there are plenty of great buys in today's market.  There is no better time than now to take advantage of these homes while interest rates remain at an all time low. For more information on Cromwell CT real estate's homes and/or condos please visit Johnson Real Estate to access the newest listings.

Valerie Osterhoudt, ABR - Johnson Real Estate, Inc. - 860.635.0387 #2 - valerierealtor@sbcglobal.net.

Copyright © 2009 By Valerie Osterhoudt, ABR, All Rights Reserved...*THIS HAS GOT TO BE ONE FOR THE RECORD BOOKS... *

Posted by

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Valerie Osterhoudt, ABR
(Accredited Buyers Representative)

Is a Full Time Realtor® with with Johnson Real Estate, in Cromwell, CT who specializes in Homes and Condos For Sale in the Middlesex and Hartford Counties in CT.

VALERIE OSTERHOUDT REALTOR IN CROMWELL CT

valerie osterhoudt

Valerie Osterhoudt, ABR ~Johnson Real Estate, Inc.
cell:  860.883.8889

email: Valerie Osterhoudt, ABR

website: www.CTrealtorMLS.com

 

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Rainmaker
155,649
Jen Anderson
Exit By the Bay Realty - Chesapeake Beach, MD

Valerie, There are companies here that charge the seller a flat fee to put it in the MLS, I have referred unrealistic sellers to them. Usually the house does not sell.  Hang in there.  I hope you get some realistice buyers and sellers soon.

May 07, 2009 12:13 PM #1
Rainmaker
808,819
Anthony Stokes-Pereira
Better Homes and Gardens Rand Realty - Nanuet, NY
Realtor

Hi Valerie;

That is the image of toady's market, hang in there and I wish you well.

May 07, 2009 12:46 PM #2
Ambassador
1,893,139
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

This is a great opportunity to either do a flat rate fee or a fee for service model.  Charge them a retainer fee upfront and then for any services beyond listing in the MLS they pay you an hourly rate.  Commission isn't the only way to be paid for your expertise.  Of course that is if your brokerage allows it.

May 07, 2009 01:06 PM #3
Ambassador
3,800,723
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Vallerie, what I can't get over is someone have to guts to ask for that in the first place.  WOW

May 07, 2009 01:14 PM #4
Rainer
205,587
Sylvie Conde
Sutton Group-Associates Realty Inc., Brokerage - Toronto, ON
Broker, Toronto Real Estate

Valerie, there are companies out there that charge a flat rate, as low as a couple of hundred dollars, just to put a sign on the lawn and give you an MLS number.  Then they charge fees for everything else, if and when an offer comes up. 
I'm getting calls too, asking if I do this.

I tell them I can put a sign on their lawn, and do nothing else, but that wouldn't help get their house sold.  I ask them if they want to LIST IT or if they want to SELL IT.  Then we negotiate from there.
There is always something that can be negotiated.  If they don't wand an advertising/marketing campaign, then they don't get one, etc.  (Or they pay for that up front and you negotiate a net commission - ensuring you cover all expenses associated with the board, broker's fees, etc.).

If all the want a SALE instead of just a LISTING, they will negotiate.
No one should work for free. 
Ask them if they would go into work tomorrow and ask their boss to cut their salary.

 

May 07, 2009 01:39 PM #5
Ambassador
1,041,745
Andrea Swiedler
Berkshire Hathaway HomeServices New England Properties - New Milford, CT
Realtor, Southern Litchfield County CT

Valerie, no, I have not heard of that happening here. That was pretty bad, I don't blame you for being upset. I am rather speechless about that. Good luck to you, I hope things turn around soon. We are seeing more activity up here, which I assume is going to be happening thru all of CT. But certainly, I don't want that to happen to me.

May 07, 2009 02:54 PM #6
Rainer
105,617
Teresa Harris
Lake Real Estate, LLC - Denver, NC
Denver . Lake Norman . Charlotte

Hi Valerie, It's really amazing what people will ask people to do and think nothing of it. Lately I have had a rash of people to contact me about purchasing a property and then I get them to talk to a lender and then they stop most have low credit scores too.

May 07, 2009 04:41 PM #7
Rainer
84,684
Carl Stars
Sutton Group About Town Realty - Burlington, ON

I have a " commision menu" we three scenarios. Full service marketing - the normal package and a basic package. All three packages work and I make excellent money on all three scenarios. If they cant afford those rates I " cut bait" ... Sometime they even come back to me months later.. Often they have the money they are just trying to get a deal.. I would cut the chord on any of these types of inquiries.

May 08, 2009 12:02 AM #8
Rainmaker
597,934
Valerie Osterhoudt
Johnson Real Estate, Inc. - Cromwell, CT
ABR, Cromwell, CT Real Estate ~ 860.883.8889

Jen.. I'm glad I blogged about this.  Never did I think of a flat fee.  Where was my mind.  Thanks for helping me out.

valerie osterhoudt

May 09, 2009 03:49 AM #9
Rainmaker
597,934
Valerie Osterhoudt
Johnson Real Estate, Inc. - Cromwell, CT
ABR, Cromwell, CT Real Estate ~ 860.883.8889

Anthony.. Would you work for nothing?  If we all did this, how would we ever make ends meet?  I keep thinking to myself "You get what you pay for", and in most cases it is true.

valerie osterhoudt

May 09, 2009 03:51 AM #10
Rainmaker
597,934
Valerie Osterhoudt
Johnson Real Estate, Inc. - Cromwell, CT
ABR, Cromwell, CT Real Estate ~ 860.883.8889

Cindy,You are thinking along the same lines as Jen... Great minds think alike.  Both of you are right.  Sellers/buyers want to negotiate commissions, but flat fees/retainers is another story.  Most feel that this is set in stone.  Thank you for your help. 

valerie osterhoudt

May 09, 2009 03:55 AM #11
Rainmaker
597,934
Valerie Osterhoudt
Johnson Real Estate, Inc. - Cromwell, CT
ABR, Cromwell, CT Real Estate ~ 860.883.8889

George.. It seems that this economy is bringing out the WORST in everyone.  My question is why are they gravitating to me?

valerie osterhoudt

May 09, 2009 03:56 AM #12
Rainer
44,955
Michael S. Mackey
CENTURY 21 All Islands - Mililani, HI
REALTOR ABR, CRS, GRI, RSPS

Valerie, let me tell you about one that I experienced. A long time friend asked me to help her negotiate the sale of her mother's property, and wanted to do it on the cheap. I understood the situation, and agreed to help in a limited capacity, with the understanding that when the property was sold, she and her mother would "take care" of me. When the deal was done, I received a very heartfelt "Thank You".

May 12, 2009 05:56 AM #13
Ambassador
2,863,919
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I'd just have to pass on this one and wish them luck.  Because no I'm not going to pay to work.  Not gonna happen.

May 12, 2009 09:37 AM #14
Rainmaker
597,934
Valerie Osterhoudt
Johnson Real Estate, Inc. - Cromwell, CT
ABR, Cromwell, CT Real Estate ~ 860.883.8889

Michael... Here we go out of our way to help people, and realtors are considered the lowest of low on the career scale.  Who else would have done this for them?  Just know you did the right thing, and some day, some how, this will come around in your favor.

valerie osterhoudt

May 12, 2009 11:02 PM #15
Rainmaker
597,934
Valerie Osterhoudt
Johnson Real Estate, Inc. - Cromwell, CT
ABR, Cromwell, CT Real Estate ~ 860.883.8889

Tammy... Good for you.  That is the way I feel.  However (I know I can't believe I just said that word) I will stop by and talk with her to make sure this is not an option of getting paid if I help her.  I don't want to burn any bridges.. and at the same point don't want to be a door mat.

valerie osterhoudt

 

May 12, 2009 11:05 PM #16
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Valerie Osterhoudt

ABR, Cromwell, CT Real Estate ~ 860.883.8889
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