Comments on: Are Real Estate Agents Overpaid and Overrated? http://www.hawaiilife.com/articles/2009/06/are-real-estate-agents-overpaid-and-overrated/ Hawaii Real Estate Market & Trends Fri, 10 Feb 2012 07:03:08 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Kalli http://www.hawaiilife.com/articles/2009/06/are-real-estate-agents-overpaid-and-overrated/comment-page-1/#comment-858 Kalli Thu, 09 Jul 2009 03:40:51 +0000 http://www.hawaiilife.com/articles/?p=583#comment-858 Matt here's my take on your HR article. No, real estate agents are not over paid if they would do their job-make money for the client. I have had the following problems with agents: a. I had one who never showed up to a pre arranged meeting on time, he was even 1/2 hour late to his own closing. b. They always say when you ask what they can get for a property "I can get what the last unit sold for". Why hire them and not the last real estate agent who sold? c. I can't go to the bidder with your counteroffer, they won't accept it and we will lost the sale. I made that agent go with my counter, the bidder accepted and I made an additional $6,000. d. When I was buying rental property the agent had no idea how to compare price to income (1%). e. A local agent sold a home without open houses to a buyer they all ready knew would buy but at a cheap price because the owner was distressed because his wife was in a nursing home. No, I would pay twice the commission if I had a competent agent who acted professionally and had my financial interests in mind instead of their quick sale. Matt here’s my take on your HR article.

No, real estate agents are not over paid if they would do their job-make money for the client.

I have had the following problems with agents:
a. I had one who never showed up to a pre arranged meeting on time, he was even 1/2 hour late to his own closing.
b. They always say when you ask what they can get for a property “I can get what the last unit sold for”. Why hire them and not the last real estate agent who sold?
c. I can’t go to the bidder with your counteroffer, they won’t accept it and we will lost the sale. I made that agent go with my counter, the bidder accepted and I made an additional $6,000.
d. When I was buying rental property the agent had no idea how to compare price to income (1%).
e. A local agent sold a home without open houses to a buyer they all ready knew would buy but at a cheap price because the owner was distressed because his wife was in a nursing home.
No, I would pay twice the commission if I had a competent agent who acted professionally and had my financial interests in mind instead of their quick sale.

]]> By: Mike http://www.hawaiilife.com/articles/2009/06/are-real-estate-agents-overpaid-and-overrated/comment-page-1/#comment-784 Mike Sat, 20 Jun 2009 02:36:52 +0000 http://www.hawaiilife.com/articles/?p=583#comment-784 Ahhh...I am not too sure about Ryan's response. I just do not agree with it. Sure, folks are not going to buy on line. Sure you do not need a 'Rolls Royce Agent' with Mega Connections to sell a property. What you do need is the right price, the right marketing plan, the right photos, the pefect Internet Posting that will give your client the maximum exposure...and of course, a visit to the property by the prospective buyers. But, come on now, do you really think a buyer is going to buy a property because of the 'presence of the real estate agent?' I do not think so. As real estate agents I think we all naturally have sizeable egos and righfully so. We need them in this business! But to think of ourselves as the 'deal maker?' I think we have a tendency to get a little 'full of oursevles.' Mike Ahhh…I am not too sure about Ryan’s response. I just do not agree with it. Sure, folks are not going to buy on line. Sure you do not need a ‘Rolls Royce Agent’ with Mega Connections to sell a property. What you do need is the right price, the right marketing plan, the right photos, the pefect Internet Posting that will give your client the maximum exposure…and of course, a visit to the property by the prospective buyers.

But, come on now, do you really think a buyer is going to buy a property because of the ‘presence of the real estate agent?’ I do not think so.

As real estate agents I think we all naturally have sizeable egos and righfully so. We need them in this business! But to think of ourselves as the ‘deal maker?’ I think we have a tendency to get a little ‘full of oursevles.’

Mike

]]> By: High Tech, High Touch adds value in Hawaii Real Estate « Hawaii Real Estate Blog http://www.hawaiilife.com/articles/2009/06/are-real-estate-agents-overpaid-and-overrated/comment-page-1/#comment-765 High Tech, High Touch adds value in Hawaii Real Estate « Hawaii Real Estate Blog Wed, 17 Jun 2009 02:47:05 +0000 http://www.hawaiilife.com/articles/?p=583#comment-765 [...] Hawaii Life Principal Broker Matt Beall has written an excellent article about whether real estate agents provide value, especially given how technology has changed the [...] [...] Hawaii Life Principal Broker Matt Beall has written an excellent article about whether real estate agents provide value, especially given how technology has changed the [...]

]]> By: ryan http://www.hawaiilife.com/articles/2009/06/are-real-estate-agents-overpaid-and-overrated/comment-page-1/#comment-752 ryan Mon, 15 Jun 2009 17:10:46 +0000 http://www.hawaiilife.com/articles/?p=583#comment-752 I would agree the vast majority of agents are overpaid, but not for the reasons you outlined. Agents are paid to sell real estate. Using the internet to expose properties, and getting leads online is only a very small step in the process. This business is about people, and your skill set dealing with those people. People do not, and never will, buy homes online. Sure they may find the home online and sign docs electrocially, but I mean the decision to purchase is done offline. Good agents are knowledgeable about neighborhoods, histories of areas, good negotiators, know local trends, and much more. They know how to communicate all these facts to buyers and sellers effectively. Here is a perfect example. 90% of a sale is done when you set the listing price. It doesn't matter how much internet marketing, and exposure the property gets, if it's overpriced it is not going to sell. If an agent knows his business, and knows how to communicate to the sellers correct pricing strategies, what is that worth? The bottom line is the vast majority of agents aren't trained and don't have the proper skill set. Therefore they are overpaid. I would agree the vast majority of agents are overpaid, but not for the reasons you outlined. Agents are paid to sell real estate. Using the internet to expose properties, and getting leads online is only a very small step in the process. This business is about people, and your skill set dealing with those people. People do not, and never will, buy homes online. Sure they may find the home online and sign docs electrocially, but I mean the decision to purchase is done offline. Good agents are knowledgeable about neighborhoods, histories of areas, good negotiators, know local trends, and much more. They know how to communicate all these facts to buyers and sellers effectively.
Here is a perfect example. 90% of a sale is done when you set the listing price. It doesn’t matter how much internet marketing, and exposure the property gets, if it’s overpriced it is not going to sell. If an agent knows his business, and knows how to communicate to the sellers correct pricing strategies, what is that worth?
The bottom line is the vast majority of agents aren’t trained and don’t have the proper skill set. Therefore they are overpaid.

]]> By: Are real estate agents overpaid and overrated? - My Internet Marketing Blog http://www.hawaiilife.com/articles/2009/06/are-real-estate-agents-overpaid-and-overrated/comment-page-1/#comment-741 Are real estate agents overpaid and overrated? - My Internet Marketing Blog Sat, 13 Jun 2009 12:23:06 +0000 http://www.hawaiilife.com/articles/?p=583#comment-741 [...] original here:  Are real estate agents overpaid and overrated? Tags: article, going-it-alone, hefty-sales, his-statement, inter-, Internet Marketing, manhattan, [...] [...] original here:  Are real estate agents overpaid and overrated? Tags: article, going-it-alone, hefty-sales, his-statement, inter-, Internet Marketing, manhattan, [...]

]]> By: Winston Welborn http://www.hawaiilife.com/articles/2009/06/are-real-estate-agents-overpaid-and-overrated/comment-page-1/#comment-734 Winston Welborn Fri, 12 Jun 2009 22:06:09 +0000 http://www.hawaiilife.com/articles/?p=583#comment-734 Solid post Matt. Seems like this industry shift is a good one for the "new breed" of real estate professionals. Solid post Matt. Seems like this industry shift is a good one for the “new breed” of real estate professionals.

]]> By: Keola Sheehan http://www.hawaiilife.com/articles/2009/06/are-real-estate-agents-overpaid-and-overrated/comment-page-1/#comment-732 Keola Sheehan Fri, 12 Jun 2009 21:30:37 +0000 http://www.hawaiilife.com/articles/?p=583#comment-732 Nice Matt, I often feel I'm fishing with a scoop net with big holes in it! Nice Matt, I often feel I’m fishing with a scoop net with big holes in it!

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