Virtual Realtors, Lower Commissions, And Other Cheap Thrills

By
Real Estate Agent with Keller Williams Realty Louisville East (502) 664-7827

End consumers and market disrupters want to lower the agent's commissions.

Agents have to make a living, but they can take their talents elsewhere to do it. Downward pressure on commissions means talented people will stop being Realtors and switch professions, or never enter real estate to begin with.

End consumers will get poor representation by AI-driven robots and sub-mediocre agents. But, oooohhh ahhhh, the representation will be cheap!!! Big savings!

Cheap, until they have to hire a litigation attorney to try to fix what should have been done right the first time.

And the attorneys won't work on commission. They'll work for $300 to $600 an hour, with a $5,000 retainer, whether you win or lose.

Can't afford an expensive lawyer? Maybe there's an AI legal-bot app that can be downloaded that will reimburse the buyer or seller for the lousy deal they got themselves in to. Maybe they can find a virtual lawyer who can help them un-buy or un-sell the house.

Maybe there's an app that can turn back time so the end-consumer can go back and hire a real live competent Realtor.

Posted by

 

 

Dave Halpern, Realtor

The Dave Halpern Real Estate Group

Keller Williams Realty Louisville East

Website David.DavidHalpernRealtor.com

(502) 664-7827

 

 

View Dave Halpern's profile on LinkedIndave_halpern twitterhalperndave_facebookDave Halpern QR CodeLouisville Foreclosure Realtors Dave Halpern

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Ambassador
2,287,195
1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

I do not negotiate my commission.  I set it and that's the level of compensation that I'm willing to work at.  My clients are taken care of.  I hate to see the establishment of virtual real estate offices and virtual agents.  For many, going that route will not end as well as it could have if they had chosen differently.

Mar 04, 2018 07:55 AM #1
Rainer
69,288
Shawn and Angela Miller
Berkshire Hathaway HomeServices Amabassador Real Estate - Lincoln, NE
Lincoln and Omaha, NE REALTORS®

I think there are just too many variables in a real estate transaction for virtual agents to take a hold.  How many times have we agents had to take creative, non-traditional but legal steps to get the transaction to close on time?  Plus, you can take all the virtual tours of a home online you want, but you'll truly never get the "feel" of a home without someone taking you to it and showing you around.

Mar 04, 2018 08:07 AM #2
Rainmaker
251,982
Lesley Wilson-VanGoethem
Innovative Realty Solutions Group - Winter Springs, FL
Residential Real Estate Broker Associate

Unfortunantly , theyre always there when the market is good... Remember the HelpUsell group that was around before the crash? They pretty much disappeared when you had to work for the sale.. and financing was tough to get!

Mar 04, 2018 08:08 AM #3
Rainmaker
3,978,839
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

My commission is sacred and  only I will make the decision of how much I charge

Mar 04, 2018 06:27 PM #4
Rainmaker
5,308,765
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I was looking for your current posts. I hope all is going well for you.

May 14, 2018 07:11 AM #5
Rainmaker
4,796,627
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Hi Dave.  The old adage about "you get what you pay for" is as true as ever.

May 29, 2018 05:33 AM #6
Ambassador
3,059,117
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

 We have seen this in many forms and more and more industries have bit the  dust like travel agents, insurance etc..

May 29, 2018 03:15 PM #7
Ambassador
1,821,708
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Well if Zillow and some other large search portals have their way, we'll be long gone at some point. We are reacting by working our tails off and supplying above and beyond customer service. So far, so good. :) 

Jun 09, 2018 11:51 AM #8
Rainmaker
1,578,746
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

Well said Dave Halpern , I'm close to throwing in the towel but it's got more to do with NAR and other forces supposedly on our/my side.

Jun 18, 2018 05:31 PM #9
Ambassador
3,231,239
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Hi Dave! I have to say that I couldn't agree more with you on each and every point. It's just like the example recently of a FSBO and the lead-based paint Disclosure. BIG fines from the feds in excess of what the total commission would have cost. And, that's also not taking into consideration they probably left money on the table during negotiations. 

The world is full of tightwads but, thankfully, there are sensible people who realize that they should always hire the professional...we're WELL worth the cost (and then some)!

Jun 19, 2018 11:17 PM #10
Rainmaker
1,979,021
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Dave Halpern - You hit the bulls eye with this one! Points 4, 5 & 6 are powerful points of interest to any consumer thinking about hiring virtual or the wrong agent to represent them in a real estate transaction.

I wish I had the power to get you featured. In my opinion, you deserve it!

Jun 23, 2018 09:15 AM #11
Rainmaker
5,308,765
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks so much for your comments on my blog. Have a most productive summer.

Jun 24, 2018 05:13 AM #12
Ambassador
3,982,263
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

It's a challenge with all the rising costs and the pressure coming from the consumers that they want discounts. I have seen it for 30 years.

Jun 24, 2018 05:38 PM #13
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