Page 1 of 4 123 ... LastLast
Results 1 to 10 of 34
  1. #1
    DR1
    Join Date
    May 1999
    Posts
    0
    Post Thanks / Like

    Default Brokers charging?

    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?

  2. #2
    Platinum
    Join Date
    Jan 2002
    Posts
    16,412
    Post Thanks / Like

    Default

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

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

  3. #3
    Gold
    Join Date
    Mar 2004
    Posts
    9,419
    Post Thanks / Like

    Default

    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.

  4. #4
    DR1
    Join Date
    May 1999
    Posts
    0
    Post Thanks / Like

    Default

    Quote Originally Posted by Lambada View Post
    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.
    I don't need know, thanks.

  5. #5
    DR1
    Join Date
    May 1999
    Posts
    0
    Post Thanks / Like

    Default

    Quote Originally Posted by AnnaC View Post
    If it's true I think it's a great idea.

    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.

  6. #6
    Newbie
    Join Date
    Mar 2007
    Posts
    4
    Post Thanks / Like

    Default

    Quote Originally Posted by Lambada View Post
    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.

  7. #7
    On Vacation!
    Join Date
    Mar 2003
    Posts
    2,676
    Post Thanks / Like

    Default

    Quote Originally Posted by Robert View Post
    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.

  8. #8
    Gold
    Join Date
    Oct 2002
    Posts
    7,668
    Post Thanks / Like

    Default

    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.

  9. #9
    On Vacation!
    Join Date
    Mar 2003
    Posts
    2,676
    Post Thanks / Like

    Default

    Quote Originally Posted by Chris View Post
    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.

  10. #10
    Silver
    Join Date
    Jan 2002
    Posts
    3,791
    Post Thanks / Like

    Default

    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.

Page 1 of 4 123 ... LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •