The Problem:
Anyone in the real estate industry feels the squeeze of anti-Realtor sentiment and although haters are as uncommon as UFO conspiracy theorists, their megaphone is loud and infectious to non-believers. Here is a perfect example of a Realtor Hater, found in comments here just yesterday (emphasis is mine, not theirs):
“I hate Realtors.
All of you are just worthless middlemen in the way giving house tours and collecting your outrageous commissions.
You are all SALES PEOPLE. You DO NOT work in the buyers “best interests” at all. Anyone who believes this for one second is a FOOL. All Realtors need to hurry up and go extinct.
I cannot stand dealing with you people. You are all ARROGANT ARROGANT ARROGANT! Lets do a quick Reality check here. Your not a doctor. Your not a lawyer. Your a damn Realtor! ANYONE can get thier [sic] RE license. You dont [sic] even need a GED. You can pump gas, dig ditches, or work at the circle K. THESE Are the kind of people flooding into your industry and then “honing thier [sic] acts”.
You all claim to offer your “services” to help buyers find there dream homes. Yet 99% of you cant even answer more detailed questions about the houses we are interested in. Uhhh Ummm hold on I have to ask the owner. So you can parrot the information from the MLS which I am already looking at. Gah! SO WHAT IS THE POINT of forcing me to deal with you people!?
A history lesson is in order here:
Once upon a time we NEEDED REALTORS. They were the only link from the sellers to the buyers and naturally it made sense for several hundreds or thousands sellers to deal with one broker in order to sell a house. Otherwise you were could put a sign in your front yard or pay for one inch classified newspaper ads.
That was then. This is now. And today everything has changed.
These days we have the Internet. And THAT is all we need.
Zillow.com. FSBO and even legal zoom.com for real estate forms and questions. With the way things have/are going, I ask every Realtor viewing this:
Why do we even need Realtors anymore?
Answer: We dont [sic]!”
The Solution:
Vicki Moore said it back in 2007 in her article, “Commission Bashing” better than I’ve heard almost anyone else defend the profession and you should commit yourself to wrapping your mind around this:
“I’m so sick of hearing it. Where there’s high risk, there’s high pay.
Every morning, I wake up unemployed. I have to figure out where my next paycheck is coming from.
When I list a property for sale, I take the risk. I pay for all of the upfront expenses. I recoup those expenses when and if the house sells. The seller signs the contract, the home may not actually be available for purchase for months while the house is prepared for sale. Then it goes on the market. I pay for the advertising, marketing, the sign, the flyers, the virtual tour, the website, etc. An offer comes in. I negotiate it. I fight for my client’s price. I fax. I copy. I drive back and forth. The house goes into contract. I manage the process. The buyer hires an inspector. The inspector finds something negative with the property. The negotiation starts again. Maybe the buyer and seller come to an agreement, maybe they don’t. Maybe I get paid, maybe I don’t.
It’s the same scenario when working with a buyer.
I’m not saying these things for empathy. I love my job and can’t imagine doing anything else. However, the risk I expend with my time and money is high; and therefore, so should the reward.
Are all Realtors good? Of course not. Is everyone at your place of employment good? No.
The lower the commission goes, the less interested professionals will be to engage in the work. Then most will be standing behind a Starbucks counter saying, “I can sell your house.”
Be a responsible consumer. Interview the agent you’re hiring. Go with your gut.”
