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#127 Jul 22 2010 at 3:46 PM Rating: Good
Nobby
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gbaji wrote:
Lord Nobby wrote:
And I don't know (or care) about the laws in lolCalifornia, but if they do charge the buyer a fee, that's the first I've heard of it in any business model. It makes no commercial sense whatever. A bit like gbaji really.


I suppose it's perception versus reality though, isn't it? At the end of the day, the buyer technically pays all the fees, doesn't he? Property values are going to be based on what the properties can sell for. That sell price includes the fee. You're really just splitting hairs here..
No I'm not you dim pillock.

You sell me a house at $750K.

I pay you $750K

You get $750K, and how much you pay your realtor, lawyer, crack dealer or butt-masseur is irrelevant. If you inflate the price to cover these liabilities, I'm not going to buy it, as I base my offer on what the property is worth, not how much you need.

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#128 Jul 22 2010 at 3:49 PM Rating: Good
Xsarus
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Also your scenario of just a selling agent and no buyer agent isn't a realistic one 90% of the time.
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#129 Jul 22 2010 at 3:59 PM Rating: Good
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It doesn't matter which side ends up getting what from who. Both buyer and seller agents get a % commission based on the sale price of the house. Both are trying to get you into the most expensive house they can with as little hassle as possible so that both can get their paycheck and move their time into someone else.

No matter if it's the buyer or seller paying the buyer's agent's side of the commission their need to appease you is the same. If California does require the buyer to pay a portion of the commission (still looking for that quote, btw) then all it does is increase the cost for someone attempting to buy a home, in turn lowering the demand for real estate which just seems silly in the current economy.
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#130 Jul 22 2010 at 4:20 PM Rating: Good
Uglysasquatch
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Lord Nobby wrote:
You get $750K, and how much you pay your realtor, lawyer, crack dealer or butt-masseur is irrelevant. If you inflate the price to cover these liabilities, I'm not going to buy it, as I base my offer on what the property is worth, not how much you need.

Smiley: nod

I've yet to see a private seller discount their selling price by 5% to account for no Realtor fees when it first goes on the market.
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#131 Jul 22 2010 at 4:39 PM Rating: Decent
gbaji
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Lord Nobby wrote:
gbaji wrote:
Lord Nobby wrote:
And I don't know (or care) about the laws in lolCalifornia, but if they do charge the buyer a fee, that's the first I've heard of it in any business model. It makes no commercial sense whatever. A bit like gbaji really.


I suppose it's perception versus reality though, isn't it? At the end of the day, the buyer technically pays all the fees, doesn't he? Property values are going to be based on what the properties can sell for. That sell price includes the fee. You're really just splitting hairs here..
No I'm not you dim pillock.

You sell me a house at $750K.

I pay you $750K

You get $750K, and how much you pay your realtor, lawyer, crack dealer or butt-masseur is irrelevant. If you inflate the price to cover these liabilities, I'm not going to buy it, as I base my offer on what the property is worth, not how much you need.



Um... If every seller pays the same commission rate to their agent, then your perception of what the property is worth is based on a value which includes that commission rate. He's not raising the price, the price already includes the commission. It always has. Everyone's price does, so you don't notice it. It's not like there's one guy charging you an extra 30k to cover his agents commission and everyone else is taking it on the chin Nobby.


Next thing you'll be insisting that you'd never buy a car from a dealer who was making you pay for the VAT. Lol...
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#132 Jul 22 2010 at 4:50 PM Rating: Decent
gbaji
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Uglysasquatch, Mercenary Major wrote:
Lord Nobby wrote:
You get $750K, and how much you pay your realtor, lawyer, crack dealer or butt-masseur is irrelevant. If you inflate the price to cover these liabilities, I'm not going to buy it, as I base my offer on what the property is worth, not how much you need.

Smiley: nod

I've yet to see a private seller discount their selling price by 5% to account for no Realtor fees when it first goes on the market.


It's rare, but it does happen. When I purchased my condo, I first got them to knock 5k off their asking price and then the agent agreed to only charge the seller 3%. Normally, the total commission is 5-6%, split between the two (with various responsibilities allocated to each). This is what I was talking about with my earlier post. Because I was going to be making the selling agents job incredibly easy (when the buyer is the one signing off on various aspects of the house, it eliminates about 90% of the problems which crop up during the process), he was willing to reduce his fee significantly *and* the buyer was willing to sell to me at less than the list price.
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#133 Jul 23 2010 at 7:25 AM Rating: Decent
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gbaji wrote:
When I purchased my condo, I first got them to knock 5k off their asking price and then the agent agreed to only charge the seller 3%. Normally, the total commission is 5-6%, split between the two (with various responsibilities allocated to each). This is what I was talking about with my earlier post. Because I was going to be making the selling agents job incredibly easy (when the buyer is the one signing off on various aspects of the house, it eliminates about 90% of the problems which crop up during the process), he was willing to reduce his fee significantly *and* the buyer was willing to sell to me at less than the list price.


Not only do you think you're a great debater but a great negotiator as well. Smiley: oyvey

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#134 Jul 23 2010 at 2:53 PM Rating: Decent
gbaji
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This whole derail started with me simply saying that I paid nothing when buying my condo other than the down on the mortgage and some escrow fees (most of which I got back IIRC), followed by someone insisting that I was lying. And now apparently, I didn't get a good enough deal...
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#135 Jul 23 2010 at 4:17 PM Rating: Good
Nobby
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gbaji wrote:
This whole derail started with me simply saying that I paid nothing when buying my condo other than the down on the mortgage and some escrow fees (most of which I got back IIRC), followed by someone insisting that I was lying. And now apparently, I didn't get a good enough deal...
It started badly and went downhill with your return to the "could gbaji make himself appear to be stupiderer than before" shtick.

Also, unrelated to anything else, my girlfriend's cat has just taken an epic dump in the shower.
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#136 Jul 23 2010 at 4:32 PM Rating: Good
paulsol
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Lord Nobby wrote:

Also, unrelated to anything else, my girlfriend's cat has just taken an epic dump in the shower.


S'funny how pets like to learn from their owners.....
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#137 Jul 23 2010 at 4:37 PM Rating: Decent
gbaji
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Lord Nobby wrote:
It started badly and went downhill with your return to the "could gbaji make himself appear to be stupiderer than before" shtick.


Stupid, in this case, being defined as making a factually correct statement, having several people mistakenly think it wasn't correct, and upon discovering they were wrong all along, doubling down with insults? Cause that seems to be what we just witnessed here.
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