Ask a Realtor anything

[veryold]

Re: Ask a Realtor anything

Maybe a confidential stat, but if not, what is the commission split (percentage wise) between an agent and the brokerage firm he works for/with ?

[ace in the hazard]

Re: Ask a Realtor anything

My understanding was Toronto property taxes were lower due to density and scale. Ie it's cheaper per capita to provide services to a larger group of people who are located closer together than a smaller, more spread-out population?

[dmcdam]

Re: Ask a Realtor anything

My understanding was Toronto property taxes were lower due to density and scale. Ie it's cheaper per capita to provide services to a larger group of people who are located closer together than a smaller, more spread-out population?

It makes sense but then again TO has a lot more city infrastructure to support than other municipalities so perhaps it's been a faulty strategy.

[Frorose]

Re: Ask a Realtor anything

Maybe a confidential stat, but if not, what is the commission split (percentage wise) between an agent and the brokerage firm he works for/with ?

It varies by brokerage and by agent actually. I don't have the same commission split as say the agent who signed up a week later, or even two years ago.

IT's negotiable.

[TheSaxemachine]

Re: Ask a Realtor anything

My understanding was Toronto property taxes were lower due to density and scale. Ie it's cheaper per capita to provide services to a larger group of people who are located closer together than a smaller, more spread-out population?

It makes sense but then again TO has a lot more city infrastructure to support than other municipalities so perhaps it's been a faulty strategy.

There is also a whole lot of commercial property in the city that is providing a pretty substantial tax base.

[dmcdam]

Re: Ask a Realtor anything

There is also a whole lot of commercial property in the city that is providing a pretty substantial tax base.

And yet the city is still broke so what to do? Their idea to collect the shortfall from residents of other municipalities has just been nixed so now what?

[TheSaxemachine]

Re: Ask a Realtor anything

And yet the city is still broke so what to do? Their idea to collect the shortfall from residents of other municipalities has just been nixed so now what?

Everywhere is broke #newnormal

[dkedad]

Re: Ask a Realtor anything

A realtor bought the house 2 doors down from us and is renting it out to an unknown number and type of people. Our neighborhood is a nice family based community. The tenants in this rental are a bunch of kids.

On New Year's they had a party and at 3 AM there were a lot of people there including some urinating outside the house.

Last weekend there was a huge presence of police and EMT because a girl had OD'd and was unresponsive.

This evening the police were there again arresting one of the tenants (we assume) on DUI and drug charges.

How do we publicly shame this realtor landlord into evicting the tenants and selling the property to someone who will live there and take pride in the home?

i feel for you Marty.
I have a friend who has gone through the same thing with Air BNB tenants in his neighborhood

[73monte]

Re: Ask a Realtor anything

No questions, just comments and observations. Most people I know despise RE agents. I think that eventually, they are in for an overhaul. Whether by regulation, or by becoming obsolete. Seeing more and more 1% companies now. The commissions need restructuring. Agents were getting 5% when houses were selling for 50k. The industry has always been tainted. Needs a good housecleaning.

[bl8d]

Re: Ask a Realtor anything

A realtor bought the house 2 doors down from us and is renting it out to an unknown number and type of people. Our neighborhood is a nice family based community. The tenants in this rental are a bunch of kids.

On New Year's they had a party and at 3 AM there were a lot of people there including some urinating outside the house.

Last weekend there was a huge presence of police and EMT because a girl had OD'd and was unresponsive.

This evening the police were there again arresting one of the tenants (we assume) on DUI and drug charges.

How do we publicly shame this realtor landlord into evicting the tenants and selling the property to someone who will live there and take pride in the home?

find a Realty sign of his and put it on the lawn of that house.

[davepratt]

Re: Ask a Realtor anything

Maybe a confidential stat, but if not, what is the commission split (percentage wise) between an agent and the brokerage firm he works for/with ?

It varies all over the map. Some companies charge for desk fees, corporate advertising, franchise fees. etc. The splits I have seen have varied from 60/40 and up. My plan is quite generous. I pay $69/month and $325 per deal and keep the rest. It's crazy what some agents will pay for a name and yet at the end of the day, the agent makes all the difference and not the company.

[davepratt]

Re: Ask a Realtor anything

No questions, just comments and observations. Most people I know despise RE agents. I think that eventually, they are in for an overhaul. Whether by regulation, or by becoming obsolete. Seeing more and more 1% companies now. The commissions need restructuring. Agents were getting 5% when houses were selling for 50k. The industry has always been tainted. Needs a good housecleaning.

I can't say I disagree with most of this.

[OKHC]

Re: Ask a Realtor anything

Hi Dave

You said "how would you place a value on your home?" It feels to me that MLS agents don't know the value of homes, if they are selling for more than market price. Do you agree?

I think a person could look around and estimate how much he wants to ask for, before listing privately.

[davepratt]

Re: Ask a Realtor anything

Hi Dave

You said "how would you place a value on your home?" It feels to me that MLS agents don't know the value of homes, if they are selling for more than market price. Do you agree?

I think a person could look around and estimate how much he wants to ask for, before listing privately.

In this market no one is absolutely certain as to what a home will sell for. We know what comparable homes have sold for in the past but all you can do is frankly pick a listing price that you feel is close to the market value, hold off offers for a week and let the market dictate the value.

[ace in the hazard]

Re: Ask a Realtor anything

In this market no one is absolutely certain as to what a home will sell for. We know what comparable homes have sold for in the past but all you can do is frankly pick a listing price that you feel is close to the market value, hold off offers for a week and let the market dictate the value.

Part of the reason that it's tougher for a private seller to price their home than an agent is the stranglehold that agents traditionally had on past sale prices. One that they have fought tooth and nail to hold onto.

Witness the ongoing fights with sites like HomesSold.

I understand why realtors want to protect this information as it's one of the few remaining advantages they have to offer, but in my mind, the industry is digging it's own grave.

Rather than adapt and accept a lower percentage commission (which in actuality, would probably still be a higher dollar amount than they would have received on the same home a decade ago), they resisted. This just drew more agents to the industry so more people had to share the pie and with such a murky market, there was lots of room for misbehaviour. The end result was RE agents engendered a greater dislike as an industry than lawyers. Luckily for them, bankers leapfrogged them both to the number one spot...