Popular on TelAve
- L2 Aviation Announces Strategic Growth Investment from Argentum
- Desert Water SL and Planet Alpha Corp. map carbon for the country of Sierra Leone using satellite data for conservation and the creation of carbon
- Sycamore Hills Dentistry Welcomes the Yomi Robot: The Future of Dental Implant Surgery
- Hoffman Homes Unveils New Brand
- GitKraken Launches DevEx Advance Partner Program to Help Atlassian Solution Partners Elevate Their Clients' Developer & DevOps Team Productivity
- Zoiko Telecom joins BT Wholesale's Partner Plus to bring enhanced connectivity to UK customers
- Phoenix Theory Unveils Revolutionary Perspective on Quantum Entanglement, Causality and Particle Physics
- BroadSource and Evolve IP – A Shared Vision for Secure Payments by Phone
- Acquisition of Clinics Generating $100 Million to Complement Progress on Accelerated Drug Approval for Bipolar Depression NRx Pharmaceuticals: NRXP
- Energies Media: Unifying Insights Across the Energy Spectrum
Similar on TelAve
- VerifyNow Launches Groundbreaking FICA Compliance Platform for South African Businesses
- Webinar Announcement: Creative Methods for Tracing Assets
- NEMTAC Announces New Board of Directors Officers for 2024-2025
- "Monotheism and Devils" is the theologically dedicated sequel of "Prince of Eurasia" of the Islamic cleric and executive producer Prince Oak Oakleyski
- Inframark Announces New Chief Financial Officer
- Hayloft Big Creek Now Pre-Leasing
- Green Office Partner Ranked #1 on Crain's 2024 List of Best Places to Work in Chicago
- Diversified Industrial Acquisition Agreement, Plus Major Contract Award for Large Fleet Trucking Provider: MingZhu Logistics: Stock Symbol: YGMZ
- NRx Pharmaceuticals NRXP: Prominently Featured in Psychiatrist.com; Article Titled "How NRx Could Upend the Fight Against Depression and Suicide"
- L2 Aviation Announces Strategic Growth Investment from Argentum
Setting The Record Straight About Current Real Estate Compensation
TelAve News/10824353
With all of the misconceptions, false headlines, and online hate being dished out about the housing purchase and sale process, top real estate advisor George Sanchez aims to set the record straight.
SAN ANTONIO - TelAve -- Just turn on your TV or go to any social media platform and you'll see sensational headlines claiming "6% real estate commissions are gone" "Realtors overcharge their clients" or "Commissions are now negotiable". Even worse still, you look at the comments bashing real estate agents, saying things like "the cartel is over" or "you've been screwing people for years". Upon further investigation, we've found that most of these hate-spewing respondents have never even owned a home or paid a fee of any sort to a licensed real estate professional.
In turn, real estate expert and broker, George Sanchez wants to set the record straight by educating consumers on what's really going on outside of the headlines that are written by the media to attract a maximum number of clicks.
The truth is, that commissions have ALWAYS been negotiable. There was never a "set fee" and frankly speaking, the average commission for a home sold in America has been below 6% and has consistently dropped year after year. Customarily, if a listing agent takes on a listing at 5.5% or 6% (or any fee for that matter), they've realized that rather than keeping that entire fee, they are often better to attract ALL agents working with motivated home buyers by offering half of their fee (approx.) to that agent for bringing their buyer to the home. This allows for more selection for every home buyer as ALL homes are available to them and it allows for a fair market value for the homeowner as it creates more demand for their home.
One of the reasons real estate sales have always seemed fairer or more ethical than auto sales or any other high ticket purchase is simply that the home buyer can also have their professional representation. They never had to worry about being taken advantage of by a real estate professional who could weigh things too heavily in the seller's favor because they have someone on their side, negotiating for them as a buyer. Imagine how much better you'd do buying a car if you had a professional representative who knows all of their sales tactics, upsells, financing, or negotiating approaches, and instead, your representative weighted those things in YOUR favor to get you a better deal. That's what we've been fortunate enough to do in real estate.
More on TelAve News
Unfortunately, lately, there's been an uproar about the listing brokerage sharing their commission (and their own pay) to help the buyers and sellers. Though the agent has cut their own income in half to help all parties, apparently some folks think that shouldn't be happening and they are saying the buyers should negotiate their own representation, pay their buyer broker out of their own pocket, or otherwise negotiate it as terms of the purchase contract.
Let's be clear here. Any additional fee that may cost the buyer more money will actually RAISE the price of homeownership. That's true regardless if they pay it from their checking account or build it into the home price to finance it. If they have to build it into the price, home prices and thus mortgage payments will go up. Then every buyer that buys in that neighborhood will be buying homes based off comparable sales with that recently inflated sales price. This INCREASES the cost of home ownership in America.
For home sellers, yes, commissions have always been negotiable. The more incentive your agent can provide for buyers or buyer's agents to come to your home, the more demand you are creating for the property. The less incentive they offer, the less demand you'll find on your home. Remember, nobody works for free. That includes your own real estate agent. If you tell them you aren't paying them, they'll simply go work elsewhere. The same is true for any agent in your town. It's also true for your employer at the business you work for. Pay is negotiable in their business too. And if they don't provide an incentive for you to be there, you won't be there. I don't have to tell you that price is a function of supply and demand so the more demand your agent can create, the more your home may sell for.
For home buyers, the system has worked well for you to have a licensed real estate professional representing your best interests. Yes, you can go directly to the seller's agent. You've always been able to do that. But that's unlikely to save you any money at all and frankly, can put you at a disadvantage when they have a real estate professional helping them and you don't. Much like walking into a car dealership alone or even a New Construction Home Builder by yourself, where they have trained professionals there representing them, you may lose in more ways than you can ever imagine. Don't represent yourself as a client. If you find a great real estate agent, they'll be very clear about how their fee structure works. They'll usually be able to negotiate concessions from the home seller or the listing brokerage to cover the cost so that all (or most) of their fee is taken care of by them. YOU are exclusively represented in one of the largest transactions of your life.
More on TelAve News
Nobody knows how all of this will play out at this point. But sellers need to know they want to do everything they can to get maximum exposure and create more demand. It's also important for buyers to know that they need a licensed professional representing ONLY them in the transaction. Speaking with a well-qualified real estate agent and having an open conversation about these things will be the best way for you to get the truth about how the fee structure works so that you can make an educated decision. Don't be afraid to ask questions. And don't be afraid to negotiate.
Ask a question as simple as "What can you do for me and what do you charge" is a simple way to find the very best representation you can find. Try to get as many services and benefits as you possibly can from that agent's service and representation. Negotiate for EVERYTHING they can offer you. Don't cut corners.
With something as serious as buying and selling a home, you need to keep your feelings out of the way and have a licensed professional on YOUR side who does what's best for YOU.
About George Sanchez:
George Sanchez is a highly experienced real estate broker who has 15 years as a bilingual real estate broker/advisor. He provides expert advice to clients that include individual home buyers, domestic and international sellers, investors, and nonprofits in the housing space. He's a no-nonsense person who looks out for the interests of his clients. To learn more about what he does, visit www.simplerealestatesa.com or https://www.facebook.com/simplerealestatesatx
In turn, real estate expert and broker, George Sanchez wants to set the record straight by educating consumers on what's really going on outside of the headlines that are written by the media to attract a maximum number of clicks.
The truth is, that commissions have ALWAYS been negotiable. There was never a "set fee" and frankly speaking, the average commission for a home sold in America has been below 6% and has consistently dropped year after year. Customarily, if a listing agent takes on a listing at 5.5% or 6% (or any fee for that matter), they've realized that rather than keeping that entire fee, they are often better to attract ALL agents working with motivated home buyers by offering half of their fee (approx.) to that agent for bringing their buyer to the home. This allows for more selection for every home buyer as ALL homes are available to them and it allows for a fair market value for the homeowner as it creates more demand for their home.
One of the reasons real estate sales have always seemed fairer or more ethical than auto sales or any other high ticket purchase is simply that the home buyer can also have their professional representation. They never had to worry about being taken advantage of by a real estate professional who could weigh things too heavily in the seller's favor because they have someone on their side, negotiating for them as a buyer. Imagine how much better you'd do buying a car if you had a professional representative who knows all of their sales tactics, upsells, financing, or negotiating approaches, and instead, your representative weighted those things in YOUR favor to get you a better deal. That's what we've been fortunate enough to do in real estate.
More on TelAve News
- Introducing MyTennisTrip.com: Your Ultimate Tennis Travel Companion
- Award-Winning Writer Thrills Mystery Lovers with The Button Collector on September 17
- Tobu Railway Group's Tobu Kogyo Division Has Renovated the Kotoku Cattle Farm in Nikko National Park and Reopened it as of July 1, 2024
- Mytee Products' Big Move: More Space Equals Exciting New Products
- Alice's Lullaby Set for an October 8, 2024, Launch
Unfortunately, lately, there's been an uproar about the listing brokerage sharing their commission (and their own pay) to help the buyers and sellers. Though the agent has cut their own income in half to help all parties, apparently some folks think that shouldn't be happening and they are saying the buyers should negotiate their own representation, pay their buyer broker out of their own pocket, or otherwise negotiate it as terms of the purchase contract.
Let's be clear here. Any additional fee that may cost the buyer more money will actually RAISE the price of homeownership. That's true regardless if they pay it from their checking account or build it into the home price to finance it. If they have to build it into the price, home prices and thus mortgage payments will go up. Then every buyer that buys in that neighborhood will be buying homes based off comparable sales with that recently inflated sales price. This INCREASES the cost of home ownership in America.
For home sellers, yes, commissions have always been negotiable. The more incentive your agent can provide for buyers or buyer's agents to come to your home, the more demand you are creating for the property. The less incentive they offer, the less demand you'll find on your home. Remember, nobody works for free. That includes your own real estate agent. If you tell them you aren't paying them, they'll simply go work elsewhere. The same is true for any agent in your town. It's also true for your employer at the business you work for. Pay is negotiable in their business too. And if they don't provide an incentive for you to be there, you won't be there. I don't have to tell you that price is a function of supply and demand so the more demand your agent can create, the more your home may sell for.
For home buyers, the system has worked well for you to have a licensed real estate professional representing your best interests. Yes, you can go directly to the seller's agent. You've always been able to do that. But that's unlikely to save you any money at all and frankly, can put you at a disadvantage when they have a real estate professional helping them and you don't. Much like walking into a car dealership alone or even a New Construction Home Builder by yourself, where they have trained professionals there representing them, you may lose in more ways than you can ever imagine. Don't represent yourself as a client. If you find a great real estate agent, they'll be very clear about how their fee structure works. They'll usually be able to negotiate concessions from the home seller or the listing brokerage to cover the cost so that all (or most) of their fee is taken care of by them. YOU are exclusively represented in one of the largest transactions of your life.
More on TelAve News
- Webinar Announcement: Creative Methods for Tracing Assets
- NEMTAC Announces New Board of Directors Officers for 2024-2025
- Dehy Mills Welcomes Two New Board Members to Support Future Growth
- Stars of Netflix's 'Skywalkers:A Love Story' Scale World's Tallest Bridge Inspired by $DOGS Community
- CCHR: "Family Estrangement" Used to Detain and Abuse Children in Psych Hospitals
Nobody knows how all of this will play out at this point. But sellers need to know they want to do everything they can to get maximum exposure and create more demand. It's also important for buyers to know that they need a licensed professional representing ONLY them in the transaction. Speaking with a well-qualified real estate agent and having an open conversation about these things will be the best way for you to get the truth about how the fee structure works so that you can make an educated decision. Don't be afraid to ask questions. And don't be afraid to negotiate.
Ask a question as simple as "What can you do for me and what do you charge" is a simple way to find the very best representation you can find. Try to get as many services and benefits as you possibly can from that agent's service and representation. Negotiate for EVERYTHING they can offer you. Don't cut corners.
With something as serious as buying and selling a home, you need to keep your feelings out of the way and have a licensed professional on YOUR side who does what's best for YOU.
About George Sanchez:
George Sanchez is a highly experienced real estate broker who has 15 years as a bilingual real estate broker/advisor. He provides expert advice to clients that include individual home buyers, domestic and international sellers, investors, and nonprofits in the housing space. He's a no-nonsense person who looks out for the interests of his clients. To learn more about what he does, visit www.simplerealestatesa.com or https://www.facebook.com/simplerealestatesatx
Source: Simple Real Estate Ventures
0 Comments
Latest on TelAve News
- CWP announces full OTS (One Touch Switching) readiness
- Aortem, Backed by Venturseed, Transforms Mobile and Gaming Development with an Open Source Platform and Expanding Developer Tools
- NRx Pharmaceuticals NRXP: Prominently Featured in Psychiatrist.com; Article Titled "How NRx Could Upend the Fight Against Depression and Suicide"
- Hollywood In Pixels, Inc. Announces the 7th Silver Pixel Awards
- Policy vs Politics Rebrands to Everything Policy: A New Era of Facts-first Policy Content
- GitKraken Launches DevEx Advance Partner Program to Help Atlassian Solution Partners Elevate Their Clients' Developer & DevOps Team Productivity
- Phinge's Plan to Save Free Speech and Give Everyone the Right to Personal Privacy and Ownership and Monetization of Their Online Data and Content
- The Royalty Network and CEO Frank Liwall Appoint Daniel Abowd as New President & General Counsel
- L2 Aviation Announces Strategic Growth Investment from Argentum
- African-American Marketing Association Launches Business of Marketing Bootcamp™ for Small Businesses
- WOHLER Announces its NEW iAM1-MIX8 Next Generation MIX Series Solution @ IBC 2024
- The World's No.1 Superstar Dies After Choking on a French Fry
- Patton Announces World's Smallest Ethernet Extender: New SFP Module Extends Ethernet Up to 3.5 Miles Over Copper and Achieves Speeds up to 18 MBPS
- Award-winning and Renowned Voice Actor Nancy Cartwright to Deliver Keynote at the That's Voiceover Career Expo 2024 in Los Angeles
- "Army of Liars" Exposes How Social Media Profits from Disinformation
- Vantiva Demonstrates its Vision of the Connected Home of the Future with New Lineup of AI-Powered CPE at IBC 2024
- Challenge Arcade's World Record Weekend 2024
- Empowering Educators with AI: Goosechase and DIGITAL Partner for the Future of Interactive Experiences
- Join Us at the 136th Canton Fair from October 15th to 19th, 2024!
- Legendary Aviation Coffee Company Celebrates 2100% Growth with Exceptional Single-Origin Air-Roasted Coffee