#10122399 - 09/12/21 10:54 AM
Re: dat real estate v.2021
[Re: robbbby]
|
Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45693
|
The answer is it depends.
First, what does the listing offer the buying agent 2.5% 2.25% 2%, etc? That's step 1
Then it depends on your brokerage, what your split is with the brokerage, are you part of a real estate team within the brokerage, is the buyer lead your own, or provided to you by the team, etc.
With that out of the way the 2% - 2.5% may have to be split 50/50 (realtor to team/broker) all the way to 95/5, depending on what I mentioned above. I've heard of some ridiculous splits like 10% realtor 90% broker of the 2.5%.
Everyone thinks realtors are 'killing it' lol. It comes down if they have their own recurring client base vs. relying on others for the work. I need to pull up the stats for 60k agents, more than 1/3rd don't do ANY deals in a given year, and majority do a handful. Why anyone would use a part time agent for such a big ticket item is beyond me, but I digress.
Before people go to calculate what the realtor is actually taking home, I am probably paying close 1k a month in other fees to be in business, between brokerage fees, insurance, license, misc. $5k-10k just to be active, can be done for less, but not worth it if you plan to do this full time like I am.
On the listing side it's different, especially in a hot market like this, I always do it at a discount (depends on the property and depends on the client and my relationship with them). Charging 2.5% to list when a house sells itself doesn't make sense and I don't do that. There is no set %.
Generally a few factors will drive listing discount beyond client relationship: how sought after is the property, condition of place and how much work there is to be done, and how expensive it is. $3M listing % is not the same as $500k condo.
Then there is also the question if the seller is also buying with you, if they are, more room to negotiate.
/disclaimer, this is how I do it. There are many agents that don't offer any discounts. The industry is so fragmented that there really is no rule of thumb answer to a lot of this. Ask another agent they will give you a totally different response. My goal is to be fair, it's what I'd expect if I was the client. Trying to squeeze every dollar out of everyone is a fool's errand and just bad business, be fair, do the right thing even if it means less money, and have clients for life.
|
|
Top
|
|
|
|
|
#10122485 - 09/12/21 06:45 PM
Re: dat real estate v.2021
[Re: Riskhe Business]
|
Simon_the_Pieman
Post Master Sr
Registered: 08/13/01
Posts: 9492
Loc: The A
|
... My goal is to be fair, it's what I'd expect if I was the client. Trying to squeeze every dollar out of everyone is a fool's errand and just bad business, be fair, do the right thing even if it means less money, and have clients for life.
preach!
_________________________
"I'd love it if we did it... but I guess I'm a big skeptic on Canadians because so many are retarded as fuck." - 355-Si, 2020
|
|
Top
|
|
|
|
|
#10136456 - 10/05/21 08:10 AM
Re: dat real estate v.2021
[Re: robbbby]
|
Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45693
|
Everything is fine!
|
|
Top
|
|
|
|
|
#10136502 - 10/05/21 09:21 AM
Re: dat real estate v.2021
[Re: Riskhe Business]
|
SuPeR-MaRiO
Post Master Sr
Registered: 06/28/01
Posts: 6221
Loc: Toronto, Ontario
|
|
|
Top
|
|
|
|
|
#10136509 - 10/05/21 09:29 AM
Re: dat real estate v.2021
[Re: SuPeR-MaRiO]
|
Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45693
|
Markham just being Markham.
Meanwhile East End slow AF. Currently have a listing in East York, was dead last week, picked up significantly this week thankfully.
|
|
Top
|
|
|
|
|
#10137081 - 10/05/21 09:28 PM
Re: dat real estate v.2021
[Re: Riskhe Business]
|
A2B-Lexus
Post Master Supreme
Registered: 04/19/01
Posts: 45578
Loc: Raptors Land
|
Wack! That home is nothing special. The buyer got hosed big.
|
|
Top
|
|
|
|
|
#10139176 - 10/09/21 09:10 PM
Re: dat real estate v.2021
[Re: Riskhe Business]
|
JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29176
Loc: Toronto
|
Everything is fine!
Ah crazy times
_________________________
-Jeff
|
|
Top
|
|
|
|
|
#10139520 - 10/11/21 05:29 AM
Re: dat real estate v.2021
[Re: Riskhe Business]
|
Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45693
|
Markham just being Markham.
Meanwhile East End slow AF. Currently have a listing in East York, was dead last week, picked up significantly this week thankfully.
East end non renovated type homes definitely slow, on offer night only had 1 offer. Still got them to come up, but definitely quiet.
|
|
Top
|
|
|
|
|
#10142878 - 10/15/21 12:19 PM
Re: dat real estate v.2021
[Re: c2k]
|
Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45693
|
I actually prefer lower commission listings because I know I can get a deal for my client because every other agent will avoid them, there will be no competition, then I am the hero even if I get a few bucks less, who cares 
|
|
Top
|
|
|
|
|
#10147083 - 10/23/21 05:20 AM
Re: dat real estate v.2021
[Re: c2k]
|
Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45693
|
https://www.cbc.ca/news/canada/marketplace-real-estate-agents-1.6209706
I have every faith knowing that our CSi: ON Real Estate agents are not breaking the law.
26k emails were sent to CBC about this segment, there will be a follow up.
Shitshow to ensue.
Meanwhile prices keep going up with no end in sight. Makes it very difficult on the buy side, ffs
|
|
Top
|
|
|
|
|
#10147284 - 10/24/21 09:28 AM
Re: dat real estate v.2021
[Re: Riskhe Business]
|
Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26910
Loc: Toronto, ON
|
https://www.cbc.ca/news/canada/marketplace-real-estate-agents-1.6209706
I have every faith knowing that our CSi: ON Real Estate agents are not breaking the law. 26k emails were sent to CBC about this segment, there will be a follow up. Shitshow to ensue. Meanwhile prices keep going up with no end in sight. Makes it very difficult on the buy side, ffs
Shit is bananas. Not a healthy market by a long stretch LOL
_________________________
'07 997.1 GT3
'08 E90 M3
'11 E90 d
'02 Rota Grid - 195-55-16FR (RIP)
'04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi)
I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
|
|
Top
|
|
|
|
|
#10149298 - 10/27/21 08:38 AM
Re: dat real estate v.2021
[Re: Hatorade]
|
c2k
Post Master Supreme
Registered: 05/21/00
Posts: 19313
Loc: Wiesloch-Walldorf, Germany
|
https://www.cbc.ca/news/canada/marketplace-real-estate-agents-1.6209706
I have every faith knowing that our CSi: ON Real Estate agents are not breaking the law. 26k emails were sent to CBC about this segment, there will be a follow up. Shitshow to ensue. Meanwhile prices keep going up with no end in sight. Makes it very difficult on the buy side, ffs Shit is bananas. Not a healthy market by a long stretch LOL
that's an understatement.
https://www.reddit.com/gallery/qghv18
_________________________
Who cares
|
|
Top
|
|
|
|
|
#10149306 - 10/27/21 08:46 AM
Re: dat real estate v.2021
[Re: c2k]
|
Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45693
|
That listing has been up for a week, it's a forced power of sale by a private lender. Typical for those types of properties.
I have buddies doing private lending at 11% on homes occupied by people with 400 credit scores LOL
What could possibly go wrong..
|
|
Top
|
|
|
|
|
#10149340 - 10/27/21 09:14 AM
Re: dat real estate v.2021
[Re: Riskhe Business]
|
Big Tasty
Post Master Supreme
Registered: 02/10/02
Posts: 19972
Loc: Toronto
|
Wow sucks for the neighbours, area looks pretty decent. Guess they got stuck with a horder. Did they rip up the driveway and then eventually have grass grow overtop?
https://www.google.com/maps/place/4200+P...52!4d-79.665547
|
|
Top
|
|
|
|
|
#10152046 - 11/01/21 01:24 PM
Re: dat real estate v.2021
[Re: Big Tasty]
|
Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45693
|
Here we go, another run up on prices with people trying to close on homes with the previous approved and lower fixed mortgage rates.
Also tempted to pick up another condo in the core, seems like the lull before the run up.
First it was indefinite WFH
Then it was hybrid
Now the Path and first canadian place food court are packed...
then societal pressure from those working in the office vs WFH crew and the likelihood of butts in seats mentality to prevail. People will probably show up more often than not for the perceived job security and proximity to mgmt for that sweet promotion. At least that's how a few of my clients are starting to see it.
|
|
Top
|
|
|
|
|
#10152047 - 11/01/21 01:25 PM
Re: dat real estate v.2021
[Re: Riskhe Business]
|
Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45693
|
Race to the bottom, even though hybrid seems like the perfect approach. There is absolutely no point in being in the office 5 days a week imo.
|
|
Top
|
|
|
|
|
#10152097 - 11/01/21 02:26 PM
Re: dat real estate v.2021
[Re: Riskhe Business]
|
Screamin' Type-R
Post Master Supreme
Registered: 02/20/01
Posts: 47941
Loc: T.O. - Canaduh
|
|
|
Top
|
|
|
|
|
#10152112 - 11/01/21 02:39 PM
Re: dat real estate v.2021
[Re: Screamin' Type-R]
|
Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45693
|
REARH ESTATE ONRY GO UP1!!!!
|
|
Top
|
|
|
|
|
#10153289 - 11/03/21 11:04 AM
Re: dat real estate v.2021
[Re: Screamin' Type-R]
|
Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26910
Loc: Toronto, ON
|
shit is fucked man full one well sized singles as overpriced as they are in my RH 'hood selling in a week  i see agent flyers (usuall the asian ones), like 6 homes on the front page alone all selling 120-140% over asking....what the shitballdicks?! when Rog/Hator got us this place 3yrs back i said it'd prob be down in value (a bit) by now...they said no, well up. they won
Holy shit. Has it really been 3 years already?!?!?!?!
_________________________
'07 997.1 GT3
'08 E90 M3
'11 E90 d
'02 Rota Grid - 195-55-16FR (RIP)
'04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi)
I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
|
|
Top
|
|
|
|
|
#10153533 - 11/03/21 02:42 PM
Re: dat real estate v.2021
[Re: Hatorade]
|
Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45693
|
Just put up a 'coming soon' sign on a property like 45 mins ago, getting calls already. Has to be a record  Time to add a couple hundo on top of expectations?
|
|
Top
|
|
|
|
|
#10155052 - 11/06/21 05:53 AM
Re: dat real estate v.2021
[Re: Riskhe Business]
|
Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45693
|
Well after decades of fighting and back and forth, looks like someone will be caving:
"In Ontario’s York Region, council just voted to allow development on 1,400 acres of Greenbelt farmland"
https://thenarwhal.ca/greenbelt-york-region-tacc-vote/
|
|
Top
|
|
|
|
|
#10155590 - 11/07/21 08:27 PM
Re: dat real estate v.2021
[Re: Riskhe Business]
|
Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26910
Loc: Toronto, ON
|
Just put up a 'coming soon' sign on a property like 45 mins ago, getting calls already. Has to be a record Time to add a couple hundo on top of expectations?
Nice. Where’s this? Meanwhile I have a $1M+ condo listed as of yesterday with only one showing so far LOL
_________________________
'07 997.1 GT3
'08 E90 M3
'11 E90 d
'02 Rota Grid - 195-55-16FR (RIP)
'04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi)
I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
|
|
Top
|
|
|
|
|
#10155629 - 11/08/21 06:04 AM
Re: dat real estate v.2021
[Re: Hatorade]
|
Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45693
|
Just put up a 'coming soon' sign on a property like 45 mins ago, getting calls already. Has to be a record Time to add a couple hundo on top of expectations? Nice. Where’s this? Meanwhile I have a $1M+ condo listed as of yesterday with only one showing so far LOL
Port Union
The condo story seems pretty common at that price range. Have another friend that had his condo listed in King West, 900k, 1 showing, offer date flopped, now shitting bricks. Sister in law listed too high for a bidding war, but still a little slower than I thought it would be.
|
|
Top
|
|
|
|
|
#10155709 - 11/08/21 09:11 AM
Re: dat real estate v.2021
[Re: Screamin' Type-R]
|
Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45693
|
By the way, I have a lender that will use crypto holdings in personal net worth calcs for new mortgages. Once Rog/Hator upgrade you to your new mansion I will pass you the contact so you can Y0l000 
|
|
Top
|
|
|
|
|
#10156132 - 11/08/21 05:01 PM
Re: dat real estate v.2021
[Re: Screamin' Type-R]
|
c2k
Post Master Supreme
Registered: 05/21/00
Posts: 19313
Loc: Wiesloch-Walldorf, Germany
|
lovely yes, just cram more ppl into the burbs with already poor transportation infrastructure  - maybe for once they can exapand fucking roads FIRST. let me guess, they'll mostly be stacked towns with 1 garage, barely a backyard (or front yard for that matter) and still cost 1.25mil
Property Taxes, y0. gotta net some income for the city councillors.
_________________________
Who cares
|
|
Top
|
|
|
|
|
#10164245 - 11/23/21 01:20 PM
Re: dat real estate v.2021
[Re: Hatorade]
|
c2k
Post Master Supreme
Registered: 05/21/00
Posts: 19313
Loc: Wiesloch-Walldorf, Germany
|
|
|
Top
|
|
|
|
Moderator: c2k, LNXGUY, TheRealCSnapper, Professor Paki
|
|
