Brokers charging?

[Robert]

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

Not that I have seen. Most will list anything and everything. Many will not even ask for papers to make sure the property has legal title etc.

Some realtors here even list properties without the owners consent.
They pull them off other websites etc.

It's completely unregulated, the wild west You can take the test to get a Dominican brokers license, but it's not a requirement. I know of only one broker in Sosua that actually has the license and that's Tay Oz.

 

[Lambada]

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.

In 14+ years there are only 3 agents I would recommend and about which I have never heard anything detrimental. Two are long term expats and the third is newer (but a quick learner & 100% straight). And these are individuals i.e. I wouldn't recommend other agents working for the same company. That's why I never recommend realty companies as such. Only agents working within them. There may, of course, be others I don't know of who are good. But I stick to the 3 proven ones; it hasn't let me down yet.

 

[Hillbilly]

From my own very limited experience, I understand that commissions on sales of land that is shore front or beach front is 10%. Inland, the commissions are lower, with 4%-5% being fairly standard...

HB

 

[jzkbbi]

I would never pay a realtor to show me a property! What a joke!

 

[snowbird44]

look at both sides

Do you realize what time and effort it takes sometimes to make a sale?
So, if somebody takes you all over God's acre to show you property, why should you not compensate him/her?
I agree that purchasers should be qualified before any Realtor takes them out to see properties. But it is also part of your gamble to have a qualified buyer.
I was a RE agent in Canada for 15 years with C21 and the trend was to sign up buyers exclusively.
The problem here is that none of this is regulated in the DR and it probably never will be. So you have all these RE companies charging crazy amounts with no regulation and basically "buyer be aware" attitude.
Going through the RE sites I have noticed the same properties advertised with three different companies and three different prices.

 

[Lambada]

Do you realize what time and effort it takes sometimes to make a sale?

And the logical extension is 'do you want to come into my showroom & see the cars I have for sale? It'll be $10 to view the Skoda, $20 to view the Explorer and $40 to view the Lamborghini.................. You can have a quick look at the Ford Popular without an engine for $5'

 

[Chip00]

Can I see the menu, then the can please?

And the logical extension is 'do you want to come into my showroom & see the cars I have for sale? It'll be $10 to view the Skoda, $20 to view the Explorer and $40 to view the Lamborghini.................. You can have a quick look at the Ford Popular without an engine for $5'

...and if you get hungry it's only $5 dollars to see what's available in the cafetria - aannnd we are running a special this week for those to which nature calls.....aranoid:

 

[Chris_NJ]

How often are houses sold in the DR directly from owner to buyer without RE agents? I have seen the "se vende casa" around but is selling through RE agent more prevalent?

 

[Robert]

How often are houses sold in the DR directly from owner to buyer without RE agents? I have seen the "se vende casa" around but is selling through RE agent more prevalent?

It happens, more so with Dominicans. Most house sales in this market are done via friends etc.

 

[planner]

Extend this to insurance companies, individual consultants, engineer firms, etc etc - anyone who might give a quote or proposal or work on spec.

Why do you think commissions are high? Why do you think most realtors don't really make it? It is not easy, it is hard work and you take your chance.

 

[snowbird44]

Extend this to insurance companies, individual consultants, engineer firms, etc etc - anyone who might give a quote or proposal or work on spec.

Why do you think commissions are high? Why do you think most realtors don't really make it? It is not easy, it is hard work and you take your chance.

Thank you Planner, that was exactly the point I was trying to make in my earlier post. Instead, I was ridiculed and selling Real estate as a professional was compared to somebody coming to look at a car in a show room.
However, a 10% fee looks outragious to me. And nothing is regulated here. No MLS fees, no licence fees, whatever....?
yes, you take your chance.

 

[abe]

It is common knowledge that vacationers try to scam real estate agents into giving them guided tours of resort areas by pretending to be interested in buying. It is also common knowledge that it's the skills and knowledge of agents that turn these very same people into actual buyers. And, then, there are the prospects who actually are interested in buying. So, for an agent to try to charge to show real estate, it's simply a commentary on their own lack of skill and preparedness. That's whey they call your compensation COMMISSION.

 

[KeithF]

Do you realize what time and effort it takes sometimes to make a sale?
So, if somebody takes you all over God's acre to show you property, why should you not compensate him/her?

Simple! Because they are working for the seller, not for me! That is part of their job, that's why they take a commission for completing their job!

I visited property with four different agents. Two agents I was impressed with, one of those I was impressed with the property enough to buy it.

So one agent made on the sale and three considered me a tyre kicker?

Actually, one of the two agents who I wasn't impressed with described the property that we ended up buying. I told her we'd already seen it, she said she'd not seen it herself, so did we mind going back so that she could see the project?!? We didn't mind, as it was already flagged up, so a repeat trip was going to happen anyway but we made it clear that it wouldn't be 'her sale'! You think I should have compensated her too?

 

[Gringo]

Extend this to insurance companies, individual consultants, engineer firms, etc etc - anyone who might give a quote or proposal or work on spec.

Why do you think commissions are high? Why do you think most realtors don't really make it? It is not easy, it is hard work and you take your chance.

I got to agree with planner on this one, lets take it a step further.
Time-Share/Vacation Club Sales. What do you think these guys make on commission?
When you buy a Time-Share here you put 40% down + closing costs (in most cases) That 40% down is the commission the (Broker) Marketing Director makes (less commissions to sales reps, and staff)
The balance of 60% goes to the (Vendor) In this case the Hotel and is usually financed.
So why does the Hotel or Resort pay the Marketing company 40%?
Because it "Huge Business" and like Planner said most don't last
No I'm not involved in theTime-Share game.