Better Homes OFFICIAL real estate bs discussion

[Yaj Yak]

I had no realtor and went to open houses all summer and fall and found a house we liked the realtor was just helping the selling agent out with the open house and she put in the offer for us. She said good thing it wasn’t my listing. I didn’t even think anything of it she put me on a 7 day contract at 1%. That house fell thru and kept on with open houses then found another and the listing agent was there and said he could not represent us since he is the sellers agent. Weird if you ask me. Most open houses do not have the listing agent it’s usually another agent from the same branch. That’s when we started paying attention to it.

the selling agent not being at the open house is wild to me.

here's some shit about dual agency being allowed in IL.

The Dos and Don'ts Of Dual Agency | Chicago Association of REALTORS®

The Dos and Don'ts Of Dual Agency Dual Agency is a topic each of you have likely heard before, but it’s usually not until your first Dual Agency

chicagorealtor.com

it's how i bought my current house.

 

[Eugene Stoner]

Yes they can.

Mine did on my house. PHAT 6%

 

[FirstWorldProblems]

Mine did on my house. PHAT 6%

The house you bought or the house you sold?

If I was a seller, NFW I'd let my agent get full 5-6% commission on a dual-agent deal. Significantly discounted rate on the buyer side or gtfo. Otherwise you're significantly incentivizing them to push their buyer's offers first.

They are doing less and are much less able to negotiate for you as a dual-agent, so they sure AF shouldn't be paid double.

 

[Yaj Yak]

The house you bought or the house you sold?

If I was a seller, NFW I'd let my agent get full 5-6% commission on a dual-agent deal. Discounted rate on the buyer side or gtfo. Otherwise you're significantly incentivizing them to push their buyer's offers first.

They are doing less and are much less able to negotiate as a dual-agent, so they sure AF shouldn't be paid double.

that's what happened for me as a buyer. 5% but it's before all the "realtor commission changes" happened. additionally i gave no fucks because i wanted the house badly. and knowing the realtor was getting the full nut on both sides, likely sealed the deal for me and kept it out of anyone elses hands.


all a stupid silly game clusterfucked by the mafia known as REALTORS®

 

[FirstWorldProblems]

IMO if an agent-less buyer comes to the listing agent interested in the house, the listing agent should be willing sell the house direct to them for their agreed upon 2.5-3% total commission. No dual representation needed, it's not that fucking hard. Send the buyers your canned checklist, and when the offers are presented, tell the sellers that one doesn't have an agent so they can keep the fee but there's more risk of the buyer's fucking something up, and let the seller choose.

It's not hard.

 

[FirstWorldProblems]

but INSTEAD of doing that, the selling agent would probably either want double commission OR to refer the would-be buyers to one of their RE cartel buddies to keep the 5-6% train moving.

i'm so glad they're being put in check

 

[Yaj Yak]

IMO if an agent-less buyer comes to the listing agent interested in the house, the listing agent should be willing sell the house direct to them for their agreed upon 2.5-3% total commission. No dual representation needed, it's not that fucking hard. Send the buyers your canned checklist, and when the offers are presented, tell the sellers that one doesn't have an agent so they can keep the fee but there's more risk of the buyer's fucking something up, and let the seller choose.

It's not hard.

well and also of course, once that contract is written, the lawyers basically take the helm completely.

 

[Eugene Stoner]

The house you bought or the house you sold?

If I was a seller, NFW I'd let my agent get full 5-6% commission on a dual-agent deal. Significantly discounted rate on the buyer side or gtfo. Otherwise you're significantly incentivizing them to push their buyer's offers first.

They are doing less and are much less able to negotiate for you as a dual-agent, so they sure AF shouldn't be paid double.

Bought. And seller paid it.

If my agent is representing both, you get 3%. 4 if I’m feeling generous.

 

[Eugene Stoner]

$18k for doing the least amount of work and representing both parties, making logistics literally twice as easy.

Half the work, half the pay.

 

[OffshoreDrilling]

The fact its even percentage based is such horse shit. It should really be a tiered flat fee plus additional for time on market or something.


I dont need your help to sell a house that is going to be on the market for a week and it would have sold with photos from a gameboy camera.

 

[Aircal]

Finally passed inspection on our house. Bought as is last January. City held a $1500 bond until it passed. Lots of stupid shit. Still have to send pics of new plumbing for clothes washer. They prefer the pipe goes straight up and over to the drain vs the way I did it. Which was closer to the floor than up to the drain. Still stupid won’t let us use the drain hose that came with the washer. Has to be hard plumbed

 

[Yaj Yak]

what sort of communist area did you buy in?

 

[Aircal]

Country Side 60525. Yea the inspector way overstepped his job. Never came when I was home or we would have had words.

 

[Aircal]

Country Side 60525. Yea the inspector way overstepped his job. Never came when I was home or we would have had words.

 

[Yaj Yak]

Country Side 60525. Yea the inspector way overstepped his job. Never came when I was home or we would have had words.

whats weird is permits ive had to get there have been pretty okay.

 

[OffshoreDrilling]

whats weird is permits ive had to get there have been pretty okay.

I think they're looking a lot harder at DIY stuff so it doesnt get hacked together vs a licensed and bonded contractor

 

[Yaj Yak]

I think they're looking a lot harder at DIY stuff so it doesnt get hacked together vs a licensed and bonded contractor

 

[Eugene Stoner]

I think they're looking a lot harder at DIY stuff so it doesnt get hacked together vs a licensed and bonded contractor

If both POs of my home were licensed and bonded, they were licensed and bonded drunkards. I did better work than both of them combined.

 

[OffshoreDrilling]

Id be cautious about what you're doing without a permit any more. Digital records are going to catch a lot of people up when they go to sell and half the house has been remodeled without permit. Enjoy those 20 permits you didnt pull plus the fines. Prob not going to make you rip open drywall to look at plumbing and electric but sure as hell going to get their $$$

 

[Jimbo]

Id be cautious about what you're doing without a permit any more. Digital records are going to catch a lot of people up when they go to sell and half the house has been remodeled without permit. Enjoy those 20 permits you didnt pull plus the fines. Prob not going to make you rip open drywall to look at plumbing and electric but sure as hell going to get their $$$

 

[Yaj Yak]

https://www.redfin.com/IL/McHenry/1316-N-Millstream-Dr-60050/home/17846042

Wtf insanity is this… $540k.. on Boone creek that can barley handle a pontoon because of the shallow creek, no central air, flood zone, kitchen cabinets are the originals as well from the 60’s, most of the doors and trim, from the 60’s. Full “finished” Basement that is mostly bare studs and just sprayed gray probably because it takes on water yearly. Assuming that because it’s “on the Fox” they want this much.

440

https://www.redfin.com/IL/McHenry/1316-N-Millstream-Dr-60050/home/17846042

if you're 100k off on a 500k property listing and it's your own personal property, you should get the bootski from being a realtor.

 

[Yaj Yak]

this house is kinda neat because it's really close to everything mchenry and a half acre. homes from 1883 kinda spook me though like i can't imagine what issues you'd find.

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www.redfin.com

 

[Pewter-Camaro]

440

https://www.redfin.com/IL/McHenry/1316-N-Millstream-Dr-60050/home/17846042

if you're 100k off on a 500k property listing and it's your own personal property, you should get the bootski from being a realtor.

Just the fact that the realtor is calling the basement finished is soo cringe. a garage epoxy floor, No insulation, just concrete walls and spray everything black..

 

[Pewter-Camaro]

this house is kinda neat because it's really close to everything mchenry and a half acre. homes from 1883 kinda spook me though like i can't imagine what issues you'd find.

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www.redfin.com

Ohh man.. we looked at a Victorian era house but it was just to scary to buy. The roof needed work, siding was sketchy, some of it was plaster and probably loaded with asbestos. Plumbing was a cobbled together mess of lead, cast iron, and random PVC. Just… no.

 

[Broke EF]

Just the fact that the realtor is calling the basement finished is soo cringe. a garage epoxy floor, No insulation, just concrete walls and spray everything black..

Its modern bruh!

I was looking for speakers downstairs since they had two rows of theater seats. I didnt see any surrounds or wire, and then I got to the front. Its just like a 55" TV mounted way too high. What is you doing?! At least get some kind of HTIB, or front speakers, SOMETHING!