Brokers charging?

Robert

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Jan 2, 1999
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I heard last night at a function that some of the "better" brokers are now charging in SD, especially the Colonial Zone to show people properties.
You pay per property shown and are refunded if you purchase.

Has anyone recently heard of this?
 

AnnaC

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Jan 2, 2002
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If it's true I think it's a great idea. :classic:

Anyone who's ever shown houses will agree I'm sure.
 

Lambada

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There was an allegation that this had happened in relation to one realty company on the north coast about 18 months ago. Agent had apparently asked a couple for an upfront payment before showing properties & payment would be deducted from purchase. Fortunately couple had expat resident friends who directed them to other realty companies which didn't have this policy! I won't name the company because I was never quite certain that this was company policy or just one maverick agent's policy........... Certainly the company had other agents who didn't ask for a fee. But if you need to know who, Robert, you can PM me.
 

Robert

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If it's true I think it's a great idea. :classic:

Anyone who's ever shown houses will agree I'm sure.

I agree with you! The business is full of tire kickers, especially at the lower end :)

I was with a broker last night that will only show 1/2 million plus properties and is very upfront about the client being able to qualify they have the money and are genuinely looking to purchase property.

She is doing VERY well and business is booming. I was stunned at the amount of 1/2 million plus properties that are moving here.
 

ionabella

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There was an allegation that this had happened in relation to one realty company on the north coast about 18 months ago. Agent had apparently asked a couple for an upfront payment before showing properties & payment would be deducted from purchase. Fortunately couple had expat resident friends who directed them to other realty companies which didn't have this policy! I won't name the company because I was never quite certain that this was company policy or just one maverick agent's policy........... Certainly the company had other agents who didn't ask for a fee. But if you need to know who, Robert, you can PM me.


Hello everyone, I caught up with this discussion and it's quite interesting to me. Hmm, I wonder what company that is? I just happened to be looking at reputable agents in the Dom. Republic and it's not easy.
 

Ringo

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I agree with you! The business is full of tire kickers, especially at the lower end :)

I was with a broker last night that will only show 1/2 million plus properties and is very upfront about the client being able to qualify they have the money and are genuinely looking to purchase property.

She is doing VERY well and business is booming. I was stunned at the amount of 1/2 million plus properties that are moving here.

The ratio of brokers to client in the last 10 years can not be figured...
Five years ago, a known major broker had 24 agents in the office and all but one where expats. I work with other RE brokers and see the same thing. It appears that many people move to the D.R. and have no income and have been told the selling real estate is easy. SO... the care taker down the street shows one of my properties and expects to get the commission. No lying. In one agency I have gone through 4 reps. in 5 years. I'm glad I know the owner.

Now, concerning someone showing one of my properties and charging... I better see 75 per cent... up front.

As a buyer, go f.... yourself. More broker agents then real buyers.
 

Chris

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First time I've heard of this in real estate. I think it is a great idea for the low-end tire kickers. Even more of an incentive to utilize a quality realtor. For high end, I don't think so. To qualify the prospect well seems to be a better policy.

In our consulting field, we've done this for years, on the high end jobs, especially if we have to do complex specifications. It takes many hours and lots of investigation and research and the customer could turn around and give our spec to someone else to implement. So, we charge for this and cut it back to the customer if they purchase.
 

Ringo

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First time I've heard of this in real estate. I think it is a great idea for the low-end tire kickers. Even more of an incentive to utilize a quality realtor. For high end, I don't think so. To qualify the prospect well seems to be a better policy.

In our consulting field, we've done this for years, on the high end jobs, especially if we have to do complex specifications. It takes many hours and lots of investigation and research and the customer could turn around and give our spec to someone else to implement. So, we charge for this and cut it back to the customer if they purchase.

If the agent Pre qualifies a person, the agent has the chance and either show or no show. An good agent knows the difference between a T.K. and a perhaps buyer. This now seperates the non professional from the part time/temporary. This is not a consulting field (Don't even go thier.). Many qualified people buy on vacation whim and are the easy buyers but charging just cuts the sales odds. Just my thought.
 

BushBaby

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The company on the north coast that started charging 'possible purchasers' up front dropped the scheme fairly quickly like a hot potato. There were (& still are) too many professional AND unprofessional sellers/marketers of properties who refuse to charge buyers (so they get the punters!!!).

Personally I have serious qualms about up-front charging of prospects - WHO is the Realtor representing? The buyer or the seller? Isn't there likely to be a conflict of interests here?

Further, charging at between 6% & 10% of sale value for their commission, Realtors make a very good living. I can see that if they are not professional enough to 'vet' their prospects correctly nor able to 'budget' for the lost time/effort involved in showing prospects around, then they need to get some form of deposit to cover their non professional approach - as a result I would steer well clear of them as a buyer & most likely as a seller too!

Final point (& I know the answer to this before typing it!!) - will the Realtor reduce the commission levels to the seller because their risk element (built in to the agreed charge up front) mow be reduced accordingly?? ~ Grahame.
 

Lambada

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I can see one advantage of charging to show houses (do they charge to show empty land lots, too? :cheeky: ). The advantage is that potential relocators might do some real preparation first rather than making a mad dash for the internet realty sites or realtors offices, i.e. they might spend time finding out about the country & the people & whether it is the right place for them. So realtors would end up with people who were really sure they wanted to buy here and the rest of us wouldn't have to put up with moaning expats who bought too soon & regret it and now can't sell........

But the other side of the coin is: in a country where you don't have to have any qualifications to be a realtor, where in fact you can manage by being barely literate, where heaps of realtors are only interested in selling & making money and don't go the extra mile to help potential clients, where some realtors have, shall we say, a less than profound interest in whether the seller really has a title to the property etc etc who is kidding whom? They want to charge for that sort of 'service'? :laugh: :laugh:

Oh my! A bit like being charged to go into a down market shop that you know has shoddy goods. Of course there will always be time-wasters among the potential buyers. But who is forcing anyone to be a realtor?
 

globalmike295

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Spot on Lambada could not have said it better myself. I have only lived here for 9 months but I can definately see a trend.
 

Steve Costa Azul

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Jul 15, 2006
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You Must Be Joking!

The company on the north coast that started charging 'possible purchasers' up front dropped the scheme fairly quickly like a hot potato. There were (& still are) too many professional AND unprofessional sellers/marketers of properties who refuse to charge buyers (so they get the punters!!!).

Personally I have serious qualms about up-front charging of prospects - WHO is the Realtor representing? The buyer or the seller? Isn't there likely to be a conflict of interests here?

Further, charging at between 6% & 10% of sale value for their commission, Realtors make a very good living. I can see that if they are not professional enough to 'vet' their prospects correctly nor able to 'budget' for the lost time/effort involved in showing prospects around, then they need to get some form of deposit to cover their non professional approach - as a result I would steer well clear of them as a buyer & most likely as a seller too!

Final point (& I know the answer to this before typing it!!) - will the Realtor reduce the commission levels to the seller because their risk element (built in to the agreed charge up front) mow be reduced accordingly?? ~ Grahame.
When I looked in December 2005 and made an offer the same month, my Century 21 agent had only shown us about 12 places in 2 days! I asked him what commission he made and he told me 10 %! He made easy money even after his split pecentage with Century 21. The villa closed March 2006.
If an agent wanted money from me, to take me to any possible purchase sight, I would probably lose it and drop them on the spot! That's how they make their money! What's next, you want me to fill your tank too and take you to lunch or dinner?
Give me a break!
Steve
 
C

Chip00

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When I looked in December 2005 and made an offer the same month, my Century 21 agent had only shown us about 12 places in 2 days! I asked him what commission he made and he told me 10 %! He made easy money even after his split pecentage with Century 21. The villa closed March 2006.
If an agent wanted money from me, to take me to any possible purchase sight, I would probably lose it and drop them on the spot! That's how they make their money! What's next, you want me to fill your tank too and take you to lunch or dinner?
Give me a break!
Steve

I agree - it's hard to have sympathy for someone who allways rides around in the latest model car and you know when the market is hot they're making money hand over fist. I have worked for a lot of people who have worked in real estate - I don't hesitate to say they compose 75% of my clientele who typically made it "big" on a few land deals.

The funny thing is for sure the agents who are struggling are the least likely ones to be asking for "showing" fees. Give me a break.
 

Robert

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Jan 2, 1999
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Great thread!

Commission rates on the south and east coast appear to be a lot less than the north coast. They range from 2.5 to 6%, 10% commission is unheard of, especially in the large developments.

The DR is full of "fly by night" realtor's, just look at the number of offices in Sosua that have appeared in the last 2-3 years. In fact, I have only come across 4-5 people that I would consider true brokers.
 

planner

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Sep 23, 2002
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Commission sales is what it is!!! It is no different from stock brokers, insurance people or anyone else who gets paid by commission.

There is no way I would pay anyone to show me houses. Find out what I want and need, match me to the correct properties and make your money. It is up to the broker or agent to pre qualify the prospects.

This sounds like "real estate industry tour guides", not brokers or agents!
 
Sep 19, 2005
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forgive my ignorance.

But is there such a thing as a MLS in the dr?

or are all properties exclusive listings

if they are exclusive...then they might get away with those fees to see properties, especially if they are higher end .

A person on a budget paying to see each of 15 prospective houses??

bob
 
Sep 19, 2005
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so a home owner can list his property with as many realators as he wants???

do some realators back away when they know a property is listed by so many other offices?

bob
 

leekiv

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Just had to add my opinion

I will be coming back to the DR shortly, to buy a villa, and I will tell you that I have contacted some real estates through e mail and have been a little surprised. One RE agent ( I will not mention the name), has lost my interest totally as I showed interest in a property, only to have this agent respond to me and then, surprise surprise !!! THE PRICE ON HIS SITE SHOT UP 10 K !!!! This property is listed on a few sites and I am interested in seeing it when I arrive, BUT I will NEVER deal with this particular agent. If any agent told me they want $$$ to show me villa's , I would walk out their door. If they wanted "proof" or to see that I am serious, I really have no problem with that as I would not want to waste my time either if I was in their shoes. Just my opinion. O yes I will also add that since this property is listed on a few sites, this agents was the only one who shot up. When I contacted him about this and said "I hope this is just a typo" he tried to tell me that the owner requested it. I knew it was bs as I contacted other agents in regards to price and not one other agent raised it. As a matter of fact, it dropped on all other sites.