Friday, September 09, 2005

Realtors Rank Up There With Lawyers

Realtors never work in your interest. Period. Never. They, by nature of the whole set-up, work for their own. Please forgive me, Henry, but it's true.
  1. They get fixed fees. Who in the world is guaranteed a set commission? Realtors! At 3% not too shabby either when considering that the European average is 1.5%. Don't cry them a river either. For a $100K house, that's still $1500. Not too shabby considering that the average home price is much higher.
  2. They benefit by selling homes at higher prices. If you are buying, don't ask the realtors opinion on a good offer. Do your own research--annoying I know when they are getting paid, but do it anyway. When your realtor says, "I can't offer that, that's an insult", I say insult away.
  3. They benefit by selling your home sooner. Faster turnover? More cashola.
The Justice Department is suing NAR--National Association of Realtors. GOOD. Lawyers versus realtors. Hah! Maybe two wrongs will make a right!

Read more about it at the Freakanomics blog here.
More blogs about the woodlands rita.