I have bought 3 houses in my life, the first one at 20 and I did not realize buyers agents were even a thing. I just wrote my own offer and sent it to the agent selling it. I bought two more houses since then, as well as offered on a 4th which was accepted but later fell though. On none of those transactions did I hire any agents. For one investment home I sold using an agent, I was rather disgusted at the amount of money it cost. Especially considering how many hours of work it appeared to involve. It did not feel like a value-add at all.
In nearly every professional environment, you have a set hourly rate x the hours spent plus any expenses and that is the bill… I would like someone to explain to me if buying a 800k property requires twice the work/time as a 400k property, and if it doesn’t, WHY is double the commission justified?
I’m currently selling that 3rd house on my own, and have had lots of buyers agents ask if I wanted to give them some (and not a small amount of money either) of MY hard earned-equity so THEIR CLIENT doesn’t have to pay them. These are the agents whose job it is to try to get me to sell for less. They are actively working against my interests and they have the chutzpah to ask that I give them money for that! I feel like telling them if their client can’t afford to pay them, they should just call me directly and I’ll make a deal with them like two competent adults should be able to do without hand-holding.
I would compare it to going to the dentist and having the price go up because you’re wearing an expensive watch. Everyone from lawyers to mechanics charge by the hour. In my two businesses working in live event broadcasting and as a flight instructor, I charge my clients based on the difficulty and time involved in their project, not based on how much money I think their show budget is, or the value of the airplane I’m asked to instruct in. My experience selling so far has really turned me off to this entire agency thing.
submitted by /u/GlasairIII
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