Realtors Say It's OK To Buy

Of course realtors and builders say it's okay to buy. Duh, that is their living. However, unless you can really afford it don't buy right now. Oklahoma foreclosure is up and our economy is not getting any better. With rising prices of utilities, gasoline, and groceries it is harder to come up with mortgage payments and all the maintenance that goes along with home ownership.

Here's an idea: Don't buy more than you can afford.

I guess these Tulsa realtors researched it:
http://www.youtube.com/watch...

Realtors Say A Good Time To Buy.....Are you kidding me! What else would you expect them to say?

Good point Eric! Now the government is suppose to bail out those to stupid to read a contract. Not to mention these idiots are leaving their pets behind! But these kind of low lifes would do that anyway.

HEY,... it's a great time to buy a car, no lets make it two cars, a boat, a summer retreat, and a motorhome, and of course that home that realtors what you to purchase.

Now let me ask you this.
Where are you going to come up with the money?

When is the everyone going to understand that most families are stretched to the limit, why
|-|EEL, people all over the place are giving away their pet dogs because they can't even afford dog food.

What else do you expect realtors to say ? Dont they want their fat commsissions for NOT REALLY DOING ANYTHING ?

Show a few people your home and pocket 10k-20K in commissions. Which profession gives such commisions for this little amount of work ?

It's a BUYER'S MARKET, of course it is a good time to buy. The inventory of homes are high and sellers are willing to negotiate. In terms of the lending industry, interest rates are approaching a 40 year low. Talk to your local REALTOR® and get the facts.
http://www.sedonaarizonahomesforsale.com

Mr X wrote:

What else do you expect realtors to say ? Dont they want their fat commsissions for NOT REALLY DOING ANYTHING ?
Show a few people your home and pocket 10k-20K in commissions. Which profession gives such commisions for this little amount of work ?

I am a realtor and I can assure you that not every sale is a 10-20K commission check. As a matter of fact, I've sold several homes that are listed under $100K where my check ended up barely over $1,500. To earn that FAT check, I spent many hours on the computer digging to find a home that hundreds of others are looking for as well. It's all most can afford but it means just as much to them so you take your time and dig to find everything that they want in a home. Then you go out and start actually looking only to find that most in that price range aren't fit for your animals to live in. When you find that one gem, you make an offer to find there are up to ten other offers on the property. When you don't get the contract, you start all over. Do you know how much gas is right now??? I have one woman that we've been doing this for 15 months and have yet to find her something she can afford in the area and with all the criteria that she wants. I figure I'll make around 50 cents per hour when she finally buys. OH...and we have no vacation or sick leave and no paid insurance. Why do we do this??? I do it because I care about people and it's gratifying to finally place that family in something they can call home.

Oh yes..Mr. X, did I also mention that we are often expected to be on call 24 hours a day. Plus there are those buyers with your mentality who blame us for everything from not getting the contract on a property that they bid $20k under the list price to the rise and fall of interest rates to delays in the closing (largely the fault of their own lender). What other employee do you know that would take verbal, mental and emotional abuse from their employer and still keep up the smile and positive attitude that is expected from your Realtor? In the end, when you've pulled that rabbit from your hat...it's worth it to hear those magic words, "Thanks...we love our new house!"

whatever wrote:

<quoted text> I am a realtor and I can assure you that not every sale is a 10-20K commission check. As a matter of fact, I've sold several homes that are listed under $100K where my check ended up barely over $1,500. To earn that FAT check, I spent many hours on the computer digging to find a home that hundreds of others are looking for as well. It's all most can afford but it means just as much to them so you take your time and dig to find
everything that they want in a home. Then you go out and start actually looking only to find that most in that price range aren't fit for your animals to live in. When you find that one gem, you make an offer to find there are up to ten other offers on the property. When you don't get the contract, you start all over. Do you know how much gas is right now??? I have one woman that we've been doing this for 15 months and have yet to find her something she can afford in the area and with all the criteria that she wants. I figure I'll make around 50 cents per hour when she finally buys. OH...and we have no vacation or sick leave and no paid insurance. Why do we do this??? I do it because I care about people and it's gratifying to finally place that family in something they can call home.

if you are a realtor maybe you can make me understand why do you have to have another agent or intermediar . I am looking for a house and between me and the owner is a realtor and an agent and both require a commision which might be exactly the difference that would make me confortable to buy.but anyway I decided to wait one more year or two because if the gas and the food is going up so fast ....

beachy wrote:

Of course realtors and builders say it's okay to buy. Duh, that is their living. However, unless you can really afford it don't buy right now. Oklahoma foreclosure is up and our economy is not getting any better. With rising prices of utilities, gasoline, and groceries it is harder to come up with mortgage payments and all the maintenance that goes along with home ownership.

AMEN!!! We sold our house and leased a place until we can get our new house finished, except our new house will be paid for. NO MORTGAGE!!

idiot is as idiot does. learn more, earn more. SIMPLE. Welcome to the real world and basic fundementals of capitalism.
Respect your Realtor.

Jay Bingham wrote:

It's a BUYER'S MARKET, of course it is a good time to buy. The inventory of homes are high and sellers are willing to negotiate. In terms of the lending industry, interest rates are approaching a 40 year low. Talk to your local REALTOR® and get the facts.
http://www.sedonaarizonahomesforsale.com

The truth is other than California and maybe Nevada, prices have hardly come down ( 10% mostly ). If you consider how they went up - it is hardly a bargain. BOTTOM LINE - THERE IS NO HURRY TO BUY. Better bargains are farther down the road.

whatever wrote:

<quoted text> I am a realtor and I can assure you that not every sale is a 10-20K commission check. As a matter of fact, I've sold several homes that are listed under $100K where my check ended up barely over $1,500. To earn that FAT check, I spent many hours on the computer digging to find a home that hundreds of others are looking for as well. It's all most can afford but it means just as much to them so you take your time and dig to find everything that they want in a home. Then you go out and start actually looking only to find that most in that price range aren't fit for your animals to live in. When you find that one gem, you make an offer to find there are up to ten other offers on the property. When you don't get the contract, you start all over. Do you know how much gas is right now??? I have one woman that we've been doing this for 15 months and have yet to find her something she can afford in the area and with all the criteria that she wants. I figure I'll make around 50 cents per hour when she finally buys. OH...and we have no vacation or sick leave and no paid insurance. Why do we do this??? I do it because I care about people and it's gratifying to finally place that family in something they can call home.

Well - most homes in US are not 100K homes. Avg home price today is 230K. And your example is really an exception. Most buyers buy after seeing 5 - 6 homes.

If you earned 1500 on a 100K home - that means others took a bite out of the total commisiion ( total commission being 5K ?). Obviously, you were on the wrong side because you did all the legwork here while others took a bite. But 50% of the time, you will be on the right side and you gain similarly.

High gas price is just a 12 month old phenomenon. Considering, house prices in last 15 years have gone up on an average by 8-10% a year, it means the commission earned in a year has also gone up by 8-10% a year. Which profession gives people such pay rises ? Shouldnt the commission rates be adjusted downward.

REAL ESTATE SELLING DOES NOT INVOLVE PUTTING ANY CAPITAL AT RISK - considering that and effort involved, commission rates are very high.

whatever wrote:

Oh yes..Mr. X, did I also mention that we are often expected to be on call 24 hours a day. Plus there are those buyers with your mentality who blame us for everything from not getting the contract on a property that they bid $20k under the list price to the rise and fall of interest rates to delays in the closing (largely the fault of their own lender). What other employee do you know that would take verbal, mental and emotional abuse from their employer and still keep up the smile and positive attitude that is expected from your Realtor? In the end, when you've pulled that rabbit from your hat...it's worth it to hear those magic words, "Thanks...we love our new house!"

Unless one is the President of a country, everybody on Earth has to bow to somebody - boss or supplier or buyer - whatever.

About 24/7, all PROFESSIONS in this age of cell phone, pagers, laptops have become 24/7.

Realtor wrote:

idiot is as idiot does. learn more, earn more. SIMPLE. Welcome to the real world and basic fundementals of capitalism.
Respect your Realtor.

Realtors are the second oldest profession in the world. To trust some Realtor would be like asking Richard Roberts to manage your money for you.

Excuse me, Mr. X,(I don't blame you for not giving your real name). I am a realtor and I don't know of ANY realtor that makes the kind of money you mistakenly believe we make. Realtors MUST abide by a specific code of ethics and our client's interests are ALWAYS and in ALL WAYS put above our own.

My best advice is that if you can't afford a home, rent and get your credit score up so that you can purchase one. If you decide to have a realtor represent you, you will be well served.

I'm proud of my profession and consider every one of my clients my friends. They are cared for exactly like I'd want someone to care for my children in the same circumstance.

jciz4all wrote:

Excuse me, Mr. X,(I don't blame you for not giving your real name). I am a realtor and I don't know of ANY realtor that makes the kind of money you mistakenly believe we make. Realtors MUST abide by a specific code of ethics and our client's interests are ALWAYS and in ALL WAYS put above our own.
My best advice is that if you can't afford a home, rent and get your credit score up so that you can purchase one. If you decide to have a realtor represent you, you will be well served.
I'm proud of my profession and consider every one of my clients my friends. They are cared for exactly like I'd want someone to care for my children in the same circumstance.

I know the total commision gets divided amongst 3-4 agent/brokers - so the real estate agent ended up with 1500 out of a 5k-6K commission ( if house sold for 100K , then TOTAL commision was 5K-6K - right ?). But the other people made 1500 each too without much sweat - didnt they ?

Maybe in places where real estate prices are on the low side - a 5% rate can be SOMEWHAT justified. But in other places ???

First of all, I said that I sold homes that were $100,000 or LESS. You have thrown alot of figures out there to lead some to believe that you understand the real estate business. If you really knew what you were talking about, you would know how the commission works. You list your home (ex. $100,000) and the commission is 6%. That listing goes on a Multi-List Service for every Realtor in the region to view. Let's say another realtor brings an offer from their buyer. The commission then gets split between your listing realtor (3%)and the realtor that represents that buyer (3%). So the commission is $3,000 each. Out of that each broker takes their percentage which ranges from 30 to 50%. So your commission in the end could end up being $1,500. Keep in mind that some properties sell for under $100,000 yet require all of the same legwork to get the sale to the closing table as your $230,000 home. I hope this also answers your question, common sense. Keep in mind that when the seller lists his home, he has agreed to pay a commission on his home (usually around 6%) and he pays that regardless whether you have a realtor representing you or not. If you don't, his realtor simply keeps the entire commission. It is always best to have your own realtor.

jciz4all wrote:

Excuse me, Mr. X,(I don't blame you for not giving your real name). I am a realtor and I don't know of ANY realtor that makes the kind of money you mistakenly believe we make. Realtors MUST abide by a specific code of ethics and our client's interests are ALWAYS and in ALL WAYS put above our own.
My best advice is that if you can't afford a home, rent and get your credit score up so that you can purchase one. If you decide to have a realtor represent you, you will be well served.
I'm proud of my profession and consider every one of my clients my friends. They are cared for exactly like I'd want someone to care for my children in the same circumstance.

Thank you...I feel exactly the same way!!! I hate that realtors are always being portrayed as people out to swindle you out of your money. We work hard and there is a great deal of stress involved. I own another business and sell real estate part time. I'm not out to steal anyone's money...I just love the business of putting people in homes. There are alot of good, hard working and honest people out there ready to give you their time and attention.