Real Estate agents exist because everyday people, and the banks don’t want to spend the time advertising and shilling the property, so they hire people to do that for them, so that’s actually reasonable. It’s the same reason why most people will trade a car into a dealership instead of trying to sell a used car themselves; the “lost money” isn’t worth as much as the time saved not having to hassle over values.
An appraiser values the house, who also exists for similar reasons as to real estate agents.
The rest I don’t know because I’m not as tuned into the housing market as I am cars, but real estate agents and appraisers have actual purposes existing.
Yeah I wouldn't argue either of those don't have a purpose. I don't really see why their compensation needs to be tied to the price. It's a conflict of interest for the buyer for one.
Many of the things in the process have a purpose, it's just overly drawn out and ridiculous. A LOT of money is made on the front end of a mortgage, after which it's sold off to investors and no longer even a risk for the bank.
Real Estate agents exist because everyday people, and the banks don’t want to spend the time advertising and shilling the property, so they hire people to do that for them, so that’s actually reasonable. It’s the same reason why most people will trade a car into a dealership instead of trying to sell a used car themselves; the “lost money” isn’t worth as much as the time saved not having to hassle over values.
That, and filter out the window shoppers wasting your time. If an agent is talking to another agent, there's a good chance the buyer is already pre-approved for a loan and serious about buying.
Real Estate agents exist because everyday people, and the banks don’t want to spend the time advertising and shilling the property, so they hire people to do that for them, so that’s actually reasonable. It’s the same reason why most people will trade a car into a dealership instead of trying to sell a used car themselves; the “lost money” isn’t worth as much as the time saved not having to hassle over values.
An appraiser values the house, who also exists for similar reasons as to real estate agents.
The rest I don’t know because I’m not as tuned into the housing market as I am cars, but real estate agents and appraisers have actual purposes existing.
Yeah I wouldn't argue either of those don't have a purpose. I don't really see why their compensation needs to be tied to the price. It's a conflict of interest for the buyer for one.
Many of the things in the process have a purpose, it's just overly drawn out and ridiculous. A LOT of money is made on the front end of a mortgage, after which it's sold off to investors and no longer even a risk for the bank.
That, and filter out the window shoppers wasting your time. If an agent is talking to another agent, there's a good chance the buyer is already pre-approved for a loan and serious about buying.