Do all the realtors follow these 136 points by the book ......... in other words by a rough guess ... whats the proportion that follow these in practice ??

-----------------------------------------------------------------
Fido.

There are some people who are highly concerned about how much commission is made by their Realtor. That's the reason, I had to dig out the above information that details our role in real estate transactions. True, not everything is followed exactly by the book like in so many other professions.

Many of my colleagues in this business will agree that good real estate professionals hardly face discounting issues when it comes to getting paid. Only those who cannot justify their role struggle with commission (both paying and earning), this can be true for both the real estate professionals and the consumers. We have some bad apples and lemons on either side of business.

The five percent commission myth can be easily explained.

Here is how it works out for a $300,000 property:

2.5% for each brokerage= $7,500 each

On an average, of the above commission 75% is compensated to the real estate professional and the brokerage keeps the rest= $5,625

An average real estate professional spends at least 30% (can be more) out of the above on marketing, insurance, real estate board fees, continuing education, office expenses, communication, car etc. and is left with 70% of the above amount=$3,937

An avg. salesperson pays his own CPP and taxes on the above amount, say 30%= Approx. $2,750 is what the salesperson earns in the end of the day.

So what's the big deal about REALTOR®'s commission?

In my opinion good salespeople in my business are underpaid.

When I look back my sales career I can tell you with full sincerity that top 10% performers in many other industries make much, much more.

Cheers,

-----------------------------------------------------------------
Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/

Quote:

---

Originally posted by manojcns

Its understandable that you have to protect the interest of your sponsors/contributors etc, but like you said, use common sense while editing posts. Manoj

---

Quote:

---

I use forums like redflagdeals.com these days to post my questions/opinions.
Good luck.

---

-----------------------------------------------------------------
Are you there?

Thanks Amit. I did not know complete 136 point checklist. I understand it’s not easy make out transaction /sale especially from rich people.

I already pasted that checklist for my future transaction and realtor’s interview. Again THANKS.

-------------------------------------------------------
Does REALTOR make the difference? YES it makes the difference.

Buying house is like bad winter weather and Realtors are like snow tires in winter.

You may not need snow tire if:
If you own nice all wheel drive car having good all season tires with good thread on it. You must be very good driver in winter and keep the distance. You are aware in the city which roads are bad to drive in winter season.

You need good snow tires:
Snow tire helps a lot in snow and freaking cold weather if you want extra safety for you and your family. Snow tire helps in shorting stopping distance and get out from slush. But it does not mean snow tires are weather proof and you can drive like summer with snow tire. You still need to follow signal/driving laws and be careful like driving with all season tires.


Summary:
Realtor’s job is helping client in buying/selling home nothing more or nothing less. If you already made the mind and did your home work then you should go with realtor but not to take advice "should I buy or not, when is the right time to buy".

Its client job to keep him educated and keep check/balance on the realtor. But never sign any paper without own analysis/ advice from your spouse/friends/families who has gone through this process and don’t having any financial interest in your transaction. .

Again I would go with Realtor if I am going to buy used home. It might possible that finding a good Realtor may take longer time.

With all due respect to realtors , these are my personal thoughts and opinions (much like everyone else's who post ) :

There are good things and not so good things everywhere including Canada ... I ve never seen people cribbing about the traffic rules here or the snow removal or the services provided by the Govt ..... and yet the medical system always comes for a reality check .......

So is with the realty market ------ why are so many realtors apparently available everywhere ............ coz the mortgage / house selling is promoted in an organized manner and involves big money ............

At the end of the day whats the value add one gets from a realtor --- you need an inspector and a lawyer anyways which are the vital stages ... Ask yourself -- do you need to get home inspection done ?? Yes its vital and an add on service while buying the property .....

Do you need a lawyer or can you do w/o one ? Yes ... to confirm the legalities its imperative to consult a lawyer ....

Do you need a realtor ??? - As far as the house listings go , they can always be availed through websites and news papers ............ even after you have priced a house and you buy it , you have to get an inspection done and papers checked ....... and pay for the same under any case . ...... for getting to know the listing and negotiating one needs to pay 5 % .... on a property worth 300K , 15K go from the pocket never to come back .....and for what .......... for know the listings and negotiating ....... and since the system supports it , hence the criticism ....

Like every sales wherever money is there a cut is there to be made .... at times I feel that properties would be much cheaper and affordable here , if the realty system was not the way it is ..... like giving the benefit of commission to the buyer ............. as the title of this thread sounds - ' All Home Hunters Unite '

-----------------------------------------------------------------
Fido.

Upon reading the 136 points closely .... would I buy a property from a stranger w/o a realtor ......... NO ....... I would certainly use a realtor provided he does follow these 136 points ...... I thought these points should have been covered by the Inspector but I must admit my lack of awareness ..... if things like checking past utility bills , septic tanks and other things are done by the realtor (and not the inspector ) then its worth it ............

Q is - do realtors follow these in practice or as the poster has said ... the onus is on us to find the right realtor ........... either we should have the knowledge to check ourselves or rely on someone else who can do the job ...............

This was a balancing thought ... although I do feel that 300K is a major investment and one should know about most of the things to look out for himeslf rather than rely on a realtor ..... once again no offense to good realtors .

-----------------------------------------------------------------
Fido.

Quote:

---

Originally posted by Fido

... the onus is on us to find the right realtor ........... either we should have the knowledge to check ourselves or rely on someone else who can do the job ...............

This was a balancing thought ... although I do feel that 300K is a major investment and one should know about most of the things to look out for himeslf rather than rely on a realtor ..... once again no offense to good realtors .

---