HOMEiZ Real estate technology, The Real estate social network (HOMEiZ.COM)

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Rainmaker
680,594
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Hey, it's just like properties. They're worth what someone is willing to pay. I'll get what I want or I won't do it.

Jun 08, 2018 11:57 AM
Rainmaker
911,112
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Why is it commissions are only viewed in the terms of cost, and never in terms of value? Because agents are really bad at communicating their value.

In the absence of value, it's price. Communicate your value and you can over come price (most of the time). For some, they don't care about Nordstrom value, they just want Dollar Store discounts.

Jun 08, 2018 01:02 PM
Ambassador
3,185,920
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

The Sherman Anti-Trust Act prohibits us from discussing this - EVER.

Jun 08, 2018 11:57 AM
Ambassador
2,344,489
Fred Griffin presently on Leave of Absence
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

   Hi, HomeiZ.

     It is against my Office Policy to discuss commissions with other real estate brokers.

     With respect, I do not care what "NAR attorneys" say.  NAR lawyers are not going to defend me pro bono, if the Feds come after me for discussing commissions with other Real Estate Brokers.  

     

    

Jun 08, 2018 01:48 PM
Rainmaker
2,974,579
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

We don't discuss commissions in a public forum as it's against the law (Sherman Antitrust)... all commissions are negotiated, in any event... your questions makes it sound as if there is a standard commission everyone receives and that's not true.  Besides, how would you define "experienced." I've dealt with agents who were in the business for decades and were totally inept.

Jun 08, 2018 12:52 PM
Rainmaker
1,505,132
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Since you are obviously not licensed, we cannot discuss this under ANY circumstances.

Jun 08, 2018 11:51 AM
Rainmaker
87,570
Jeff Perlis Prime Properties
Prime Properties - Lake Arrowhead, CA
Experience Your Own Transformation!

Yes, we should.

Jun 08, 2018 01:10 PM
Rainmaker
522,668
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

I understand we are not to discuss commission in this forum so my answer is changed. 

Jun 08, 2018 12:57 PM
Ambassador
3,914,717
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

I agree with Debe Maxwell, CRS on this

Jun 08, 2018 12:13 PM
Rainmaker
2,896,168
Richard Weeks
Dallas, TX
REALTOR®, Broker

You don't get what you deserve you get what you negotiate.

Jun 08, 2018 12:02 PM
Rainmaker
743,647
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Experience is translated, 'getting the expected outcome.'

An agent gets what they deserve. That has little to do with the number of years they have been paying NAR or the number of letters appended to their name.

It has everything to do with the experienced agents ability to convey their value. Why stop at single digits?

Jun 08, 2018 11:57 AM
Ambassador
2,178,419
Wanda Kubat-Nerdin - Wanda Can!
Prado Real Estate South - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

I will agree with Debe's and Nina's answers. Not going there!

Jun 08, 2018 02:30 PM
Ambassador
3,075,864
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

An experienced agent will have no problem securing what they want from clients that see the value in what they offer.

Jun 08, 2018 12:27 PM
Rainmaker
1,404,122
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

I think a well-experienced agent should know what they are worth and should ask for that amount (whatever it is).

Jun 08, 2018 12:00 PM
Rainmaker
4,869,981
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

no.... but I DO think an agent with the reputation of tossing the listing in mls and forgetting about it should not get a commission....

Jun 08, 2018 11:52 AM
Rainmaker
1,278,323
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

As you know, commissions are always negotiable.  An agent can ask for whatever they think they deserve. 

Sadly, "experience" doesn't always equal "competence".  You can't judge a book by it's cover, nor an agent by the length of their tenure. 

Jun 08, 2018 04:10 PM
Rainmaker
4,431,983
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Do not discuss commissions

Jun 08, 2018 03:37 PM
Rainmaker
5,264,374
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

When we had a buyers market, long ago, 7% was the standard commission. The market will determine the rates. This is not a good place to discuss suggested commission rates.

Jun 08, 2018 01:52 PM
Ambassador
906,944
Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com

We should not be discussing commission on this platform

Jun 09, 2018 05:37 AM
Rainmaker
2,942,161
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I do like the theory of being paid more than an inexperienced agent. However in he real world i am facing sellers looking to pay little, get something fo rnothing and on the cheap. I show the value of my commission. I show them results and service. I adjust my fee when needed, for a home i can sell quicker or a home that will take longer. 

Jun 09, 2018 05:04 AM
Rainmaker
1,211,024
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I think it's a matter of the value you bring and how you communicate it, plus what the market will bear and the desires of the seller.  I tell people "this is what I charge and here's why I'm worth it."  If that doesn't work for them, then that's too bad and they don't get the pleasure of working with me.

Jun 08, 2018 03:07 PM
Rainmaker
3,168,039
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

What someone else does is their business. What I do is mine!

Jun 08, 2018 02:25 PM
Rainmaker
4,313,570
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

We have clients who have asked for what they felt they deserved, and the owner happily paid it!  So it depends where and when and mutual agreement. A

Jun 08, 2018 01:38 PM
Rainmaker
984,394
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Why do you think 1/3 of car salesman positions disappeared?

The latest technology has changed the local realtor's knowledge. It recognizes photos in the WWW posted (FB under people account, Pinterest etc) able to grade the house, kitchen and able to assign a value for each room, updated value or lack of updating. Companies are willing buy the homes as is without even looking at the inside. A visit is a matter of validating the technology results. Last 2 years an artificial intelligence based company took over 2% of used home sales in a major SW city. It does not use realtors to buy or sell. 

Investors have poured in $1B in developing technology in CA each year and will force the major brokers change their fee model. In fact, some of these technology based discount model already took over all these name brokerages already(stock market cap).  Top brokerages using Bentley and Maybach to drive clients around have to accept what people are willing to pay. 

 

Jun 08, 2018 12:23 PM
Rainmaker
3,049,871
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Debe Maxwell, CRS nailed this one!

Jun 09, 2018 12:57 PM
Rainmaker
2,763,575
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Commissions are negotiable.  

Jun 09, 2018 08:15 AM
Rainmaker
382,677
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

An agent gets paid what he/she is successful in negotiating. And sellers often get what they pay for.

Jun 09, 2018 07:38 AM
Rainmaker
4,796,551
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

It's not experience, it's performance.  Maybe the commision should be based on results.

Jun 09, 2018 05:44 AM
Rainmaker
1,477,946
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

Hypothetically, yes! 

Jun 08, 2018 11:43 PM
Ambassador
4,298,246
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

HOMEiZ.COM HOMEiZGROUP - I love it that way, however, practical challenges are different.

Jun 08, 2018 09:59 PM
Ambassador
4,056,346
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Many of our agents do, people will pay what they think you are worth, what do you think you are worth?

 

Jun 08, 2018 08:48 PM
Rainmaker
651,433
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

An agent can get whatever commission that can be negotiated with their sellers.

Jun 08, 2018 04:54 PM
Rainmaker
1,817,491
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

What will the market bear ?

Jun 08, 2018 03:23 PM
Rainmaker
657,474
Chuck Willman UtahHomes.me
Utah Homes - Alpine, UT
Utah Homes

I suppose if that agent wishes to do so... commissions are negotiable and, as such, would probably cause a potential client to justify the commission.

Jun 08, 2018 02:28 PM
Rainmaker
724,354
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

They can try...

Jun 08, 2018 01:12 PM
Ambassador
3,981,944
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I have 38 years experience and think it is time for a raise.

Jul 10, 2018 09:55 PM
Rainmaker
4,020,299
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

We are not to talk commission in any public forum.

Jun 12, 2018 06:08 AM
Rainmaker
534,200
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
RE/MAX Valencia, Stevenson Ranch, Santa Clarita

Commission?  We don't discuss commision if we have any good sense.

Jun 10, 2018 05:54 PM
Rainmaker
506,933
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

A more experienced agent often has a better client base and will be more selective than a new one.  They tend to show fewer homes and assist their clients more efficiently than a new one.  A new agent may have a mentor or managing broker who provides some assistance to boost the new agents value to their clients. 

Jun 09, 2018 02:44 PM
Rainmaker
3,977,611
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Get what you can

Jun 08, 2018 05:36 PM
Rainmaker
2,424,134
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

If a deal calls for action over and above the call of normal duty why not?

Jun 08, 2018 03:13 PM
Rainer
55,882
HOMEiZ Real estate technology
HOMEiZ.COM - Agoura Hills, CA
The Real estate social network

I read some of the comments here and can understand some of the agents concerns, who are scared to discuss this issue. We are not making any conspiracy here, or monoply ,or trying to fix commission price.

To prove real estate agents or brokers are engaged in price fixing, a plaintiff must provide clear evidence that the agents or brokers conspired to charge the same minimum rate  and that they did, in fact, charge that rate  according to Robert Butters, an attorney at Chicago-based Arnstein and Lehr and the former deputy general counsel for NAR.

Casual social media conversations about commission strategy do not come close to meeting that test.

Jun 08, 2018 01:22 PM