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Real Estate Agents Underpaid?
I just read an article that ranked real estate agents as one of the most underpaid professions and I just wanted to vent about it.
Real estate agents are underpaid??? Really?? They are the most overpaid people ever. They are glorified door openers who add no value to real estate transactions. When we were shopping for a home almost every single agent sitting at the open houses knew next to nothing about the home they were "selling". We found the home we're living in, on our own and only used a buyer's agent to close the deal because he offered a rebate. Otherwise, that full 6% would have went to the seller's agent. My buyer's agent didn't know anything about any of the homes either and we basically paid him $6500 to unlock doors for us. If that isn't overpaid, I don't know what is. On the flip side, we paid a flat fee of $400 to list our home on the MLS exchange and sold it in 3 weeks. The people coming through our home kept telling us how refreshing it was to be able to ask the owners questions because the agents at most open houses were clueless. The young couple that did finally buy our home found our home online on their own too, but because they had an agent, we had to pay another 3% to him to close the deal. I really wish the government would crack down on this whole realtor monopoly.
By the way, I also understand that the individual agents don't necessarily get that full 3% or 6% because they split it with the broker and so forth. However, that doesn't mean the consumer pays less. My point is, as a consumer or seller, I get little to no value proportionate to the amount of money that is being paid out. They certainly aren't a slickdeal when it comes to home purchasing.
Real estate agents are underpaid??? Really?? They are the most overpaid people ever. They are glorified door openers who add no value to real estate transactions. When we were shopping for a home almost every single agent sitting at the open houses knew next to nothing about the home they were "selling". We found the home we're living in, on our own and only used a buyer's agent to close the deal because he offered a rebate. Otherwise, that full 6% would have went to the seller's agent. My buyer's agent didn't know anything about any of the homes either and we basically paid him $6500 to unlock doors for us. If that isn't overpaid, I don't know what is. On the flip side, we paid a flat fee of $400 to list our home on the MLS exchange and sold it in 3 weeks. The people coming through our home kept telling us how refreshing it was to be able to ask the owners questions because the agents at most open houses were clueless. The young couple that did finally buy our home found our home online on their own too, but because they had an agent, we had to pay another 3% to him to close the deal. I really wish the government would crack down on this whole realtor monopoly.
By the way, I also understand that the individual agents don't necessarily get that full 3% or 6% because they split it with the broker and so forth. However, that doesn't mean the consumer pays less. My point is, as a consumer or seller, I get little to no value proportionate to the amount of money that is being paid out. They certainly aren't a slickdeal when it comes to home purchasing.
