You really stirred it up this time didn’t you? If I didn’t know better, I might think that you like it. ;D
Since you pulled a quote from my post, let add that also in that post, I recommended that a new or inexperienced seller NOT use a flat fee service. It would still be better for them, in most cases, to use the services of a good agent.
Concerning your story about the value of the home: I’ve had agents (not flat fee services) both severely overprice and underprice properties before. It’s not just a problem with flat fee services. You think highly of your profession and you should. You’re a good agent. How do I know? First, because you DO think highly of your profession. Second, you believe in keeping educated. Third, you DO think outside the box, at least a little :). If not, then you wouldn’t be on an investors website.
Unfortunately, the real truth of the matter is that most RE agents do not and are not as good or as motivated as you to be good at their job. I’ve seen the agent that wants only to list property and sit back and collect the split without lifting a finger. Or agents that refuse to show properties that don’t offer a 3% or higher fee to them. Agents that have as me, as the buyer, how to fill out the purchase and sell agreement. Agents that have presented MY offer to the seller but put their PREFERRED buyer’s name on it. I seen it all, and it happens more than you want to admit.
Buckeyes, makes a good point. Why is it that it’s a 6% commission whether it’s a $300K property or a $30k property? Is the $300k property so much harder to sell, list, or market that it commands a premium price for the service? Why is it that in the U.S., the average commission is 6%, but in Europe, it’s only 2%? I think that Buckeyes answered that also. It’s because here, it as he said, a “protected industry.”
Don’t get me wrong. I, personally, like agents. I own a real estate company. Agents make me money. If your were talking to a bunch of new home sellers or buyers, I’d probably be preaching with you. But, as experienced investors, Buckeyes is probably right again. The investor can show and sell the property faster than an agent. I know I can. I can sell or lease/option my properties in an average of 3 weeks compared to the 8 month average sell time here via the MLS. I have agents asking me all the time how I do it.
I totally agree with your view on the dot.com value sites. There is nothing better than a good, up to date, comp.
Just my veiws,