WOW REALLY? She expects agents to bring people to buy her house when they have other houses to sell which they get paid more for! 🤦♂️🤣 Anyone who thinks shes in the right ill give you a job paying you less! ITS THE SAME THING!
@@danquaylesitsspeltpotatoe8307 if I’m looking for a home, I want to see all the houses regardless of how much the realtor makes from selling. Not doing this is cheating the customer.
We had an agent one time that was so, so good. Lowered his fee and worked with us for MONTHS in a hot market in the best neighbourhood. We wanted it for the schools but, it was over our budget a bit. I mean that guy went above and beyond. Fast forward 28 years and I have referred every person I know who was looking for an agent to him and he has sold houses of at least ten of them. Be good to your clients. They WILL remember.
My husband and I as well. She was amazing. Every Thursday night I would give her my list from MLS and she would contact each one with my questions. By Friday morning I knew which ones I wanted to see over the weekend with availability times. Bless her heart she did this 4 months. She was a personal referral from family friend. I now give away her cards / website to anyone needing an agent. It’s the least we could do!
Kick Your face ... do You call for a lawyer at four hundred and fifty 🇨🇦 dollars per hour ... or do You suck iT up ... p.s the lawyer gets paid by the Attorneys cousin (who's wife) sold the shoes that kicked You in the face. Officer taking report his wife delivered them and had coffee ☕ ⚖
It’s hard being a realtor. They’re in the business to make money…. You hire an inspector and you do your own research before buying it…. Don’t take what the realtor say….Seems kinda mean to make a tv show on hard working realtors….
Here in Europe we have web pages with home listings and most people just ignore reality agents. We contact the seller directly through the web pages and we go visit the house with our builder professional who checks the status of the house and then we visit a specialised lawyer who do all the legal stuff and arrange the money transfers and communications with banks. Their work is not very expensive and it is not linked to the price of the house.
Bahahah ok apply this logic to every other industry then.. as a realtor, some clients you end up showing 40 to 60 listings. You do research on every one of them on your buyers behalf, you drop everything your doing to work them and their needs into your schedule. You miss out on holidays, get stuck in traffic when you could be at your kids sports games or dinner with family. You negotiate to get the price they want. You connect them to trusted inspectors, loan officers, contractors, etc with a network that's taken more than a decade to build. You do all that with not so much as a penny before the property is sold and closed. Considering all that and more, you still feel like the agent doesn't deserve a 1-2.5% commission? You're either the cheapest SOB on the planet, or the most selfish POS lmao. You get what you pay for bud
@@risharehraje793this isn't Europe bud. You guys charge people to use public restrooms lmao. Congrats on being able to find your own place to live! You want a cookie?
@@Hartmann45 Yes, I understand that. My response would be: if you're going to do an investigative story, then do it, and prepare for the possible repercussions. Otherwise, don't call it investigative journalism and instead just do a regular story.
I sold my own home and I'm not a real estate agent. I lived in a high demand area and I knew it. I advertised online, on Kijiji, and put up signs in the neighborhood. You don't need for MLS. I had 1 Open House where I got 5 offers. I sold it that day for my full asking price. After I printed my own purchase agreement which you can buy at Home Depot, I took it to a lawyer who I paid $150.00 to look it over. I would try do the same on my next home sale. I think you should always try to sell your own home first.
Commissions are negotiable, there is no such thing as a "standard" fee. As a Realtor this is truly upsetting. We are to negotiate our fees with the seller, and pay half to the agent who brings the buyer, period. If the buyer wishes to see a house that is listed for 1%, it is my job to show the buyer that house. We work for the client, so take care of the client! Do what's right and your work will be blessed
Yes standard fee because it's not negotiable on the realtors part. Ru willing to list for 1% and share that? I doubt that because It wouldn't even be worth all that time invested. As a realtor u should know your worth.
how it is a violation? Lol good realtors just won't take the listing. YOU can't make a realtor lower the commission if they dont want to. So again they can negotiate but it's not a violation if they choose not to.
I gave a full offer to a real estate agent. He never even provided the offer to his client. He hid it because the listing was still only a week old and he wanted to find someone who’d offer him more. His client is 86 years old. I had to drive to the client’s home and tell him my offer for him to find out i existed.
More than likely the agent was wanting to make it look like there was no interest in the home so the agent’s real employer could come in with an offer 10% below asking. This kind of thing happens all the time. The agents don’t always work for you but are employees of another company looking to buy homes for cheap.
Actually, it was pretty weak. They gave zero insights into real estate business and almost sounded like they are promoting cutting real estate agents income. Do you know what the average agent actually makes in the US and Canada? US: $41,000 a year Canada: $55,000 per year. If you dropped the commission from 2.5% to 1% then in the US the average agent you go from $40 K to less than 20K...Say you're making $200K a year if the average went down 1.5 times less then that's a huge cut in pay. So ya...1% is actually a pretty big deal. And this is not people being greedy!! It;s actually fighting for you career and future. Most realtors are not rolling in millions!
If they work with a brokerage that provides all their listings the commission might be paid through the brokerage, brokerage will take a cut before giving the broker their commission, they may have a policy that the commission is fixed not unlike a union trying to set a base salary for their union members. So this is basically like a union setting the rates for the cost of their labor/service. That said, nothing is stopping independent brokers from selling at whatever rates they want nor is there anything stopping individual sellers from finding direct buyers without brokers and brokerages, but of course it's far more difficult since they only have access to their personal network and not the extensive listings of an established brokerage.
As a realtor, I completely agree. I'll take $14k now and hopefully get the chance to sell the home for them later. Or not. Either way, I work for the client. End of story.
Because some people would rather have all of nothing than part of something. I don't I understand it either. I remember how a lot of agents had to find a new line of work when the housing bubble burst in 2008. I don't think people learned from 2008 because I'm seeing the same things that I saw in 2008 with a lot of agents being so greedy that they put their commission ahead of service to their clients. Some even helped steer clients to mortgage companies whonwere peddling exotic mortgages that people took out and shouldn't probably wouldn't have if they understood what they were really getting vs what they were being made to think they were getting ( those ARM that deemed great until they adjusted multiple times and to unpredictable rates that eventually made the loan payments unaffordable)
Another problem: since the agents get paid a percentage there is an incentive for them to inflate the price of the house by faking bidding wars etc, more transparency is needed.
I painted a sign on a piece of plywood. By the end of the month, cash in hand, I gave the keys to the new owners. We used a real estate lawyer to process the transaction, the cost was $800. I had decided to use an agent if it didn't sell in 3 months, all it cost me to try on my own was nothing, I already had the plywood and the paint in the basement.
I had an agent that showed me disrespect, disrespect for my house, and sloppy work. Sign wasn’t out on time, open house was a free for all, no monitoring the ppl walking thru, no lights out, shades drawn afterwards.
@@vallee7966 I was very lucky, in an unusual house in a busy location, with a giant sign. Otherwise I'm not sure it would have gone so well. I don't think regular people can list on the mls, just FSBO sites. Ugh, I'm so sorry you had to go through that, just reading your comment makes me think of people rummaging through my skivvies!
I’m happy private sale worked out for you. 😊. Unfortunately many Agents will steer buyers away ( if the mention the private listing to them). Very easy to “ suggest” a cracked foundation.. or that they’ve heard there “might be water in the basement in the spring.“
@@brendalabranche365 Absolutely, in my case it all happened so fast, low integrity agents didn't have a lot of time to play games like that. And buyers can, and should still get an inspection. And, buyers with sense would likely realize they save money when they buy without having to factor a commission into the price. For those buyers, talk about cracked foundations and leaks would just reveal the agent as money grubbing and dishonest. It could backfire and make them look really dishonest.
Always felt it was an inherent conflict of interest when both the buyers agent and sellers agent work on commission. They both have incentive to get that price as high as possible.
Sing it from the rooftops. Massive conflict. Hard to prove the collusion, so it would happen ALL THE TIME. Only adding a third, flat-rate, objective party to relay info between the agents could slow (not stop) it... but that just adds complexity and cost. What darkweb, untracked, communications do agents use to make their extra deals?
It definitely is not in the best interest of the buyer's agent to get the highest price possible, at ALL! There's a 90% failure rate in the real estate sales industry. That's right, 90% fail. Because most agents only care about the transaction and not the RELATIONSHIP. We do ten deals over our lifetimes with each client, whether those deals be repeats or referrals. If we don't negotiate the best possible price for that client, why would they want to reuse us or refer us to their friends and family? A lot of agents don't, all agents SHOULD. I'm one of the agents that will always act in the best financial interest of my clients. That wins in the end.
It's not just steering but there are many more tricks in the book that they regularly use like asking for a higher commission, negotiating tactics... When I bought my house a few years back, there were broken windows, broken doors, broken carpets. I offered them $5000 less to cover the cost of repair of those items. But I told the realtor (buyer's agent) that I really loved that house because of the location. Later I realized that was a big mistake to tell her that because she knew we would buy it at full price regardless (or even offer more). So she came back and said the seller wanted a full price, no negotiation. I didn't understand why at first why they just couldn't reduce $5000 from a $700,000 price. And it's not like I was trying to low ball them or anything. It was for repairing broken things in the house. Later after we already bought the house, I found out that she teamed up with the seller's agent to NOT reduce the price for us so that she can get more commission from the seller. Car dealers, dentists, and realtors are usually on top of the list of people you should never trust.
@@rps1689 if it really that important i think its worth a shot. but lets be real, you bought a $700k home. $5k is a drop in the bucket for someone like you...and those real estate agents know it as well. you are letting them get away with it, and they will continue to do so. if you REALLY cared enough, you should at least report it. if you don't, you are letting them get away with it clean. imo your pretty much validating their shady tactics and letting their cycle continue...
Steering. Red lining. Threats. Ghost email harrassment. "The Board" does nothing. Should Realtors be valuing land taxation? Where are the assessors? Glad someone is talking about this.
Just ALL talk” … it’s unlikely to Change because the law (tax revenue) needs these benefits , especially at this time. I would call this as “Gas lighting” the issue. Government (most) doesn’t want to change this path of revenue… lots of power players benefit from it and the general public that complains don’t have the wear with all to change it. Unless the law steps in and accepts a large cut in revenue (land taxs and indirectly from tax’s on products for home maintenance. I like to have 2 places , a place to earn and a place to spend.
I sold my house by owner in 2021. I got a bunch of calls from relestate agents saying they had someone interested but they wouldn't allow them to come unless I offer a good percentage commission for the buying agent. I would offer them 2%, only one agreed and came by. Most of them threw hissy fits about a "low commission". Then told me they would tell their client "it isn't going to work out" or something like that. Not sure what they would actually tell their clients but I definitely missed out on several showings because the agent was being a firewall. I ended up selling with no realtor, above asking, no realtor fees.
Unfortunately business ethics was removed as a course. Unfortunately more and more universities in North America are removing their ethics courses in their business programs. It should be brought back.
Real state agents are thieves making easy money. The rates are ridiculous high to just upload pictures to a website and give a ride to a few properties. Homeowners shall sell themselves. One can purchase a contract for a less than a hundred.
We have been working with our realtor for 4 months. At first it seemed pretty typical, but I started to find it wierd when she would consistently send us overpriced bungalows, pushing us to make an offer, but any fixer-upper or anything not expected to go 200k+ over asking that we approach them about, can barely even get her to agree to a showing.. really their just making more work for themselves though, because we're not interested in an overpriced bungalow.
Yes, I echo Bulldog… don’t waste precious time if your realtor isn’t working for you by at the very least listening to you. We had an AMAZING realtor. In fact, I’ll give her a shout out for anyone needing someone trustworthy in the Nashville area: (not sure her range, as we are a bit south) Kay Worth with Keller Williams. She’s lively, encouraging, flexible and highly competent, with over 30 years of experience.
As the owner of the house has the CHOICE to make for what she OWNS the real estate agent has the CHIOCE to make with what he OWNS that is DATA earned by him by putting time and effort and advertisement costs. Why are you upset for that? If you think you can do it yourself then do it yourself... !!! 😊 The same thing happens in any other fields.... You can wash your own disher or BUY a dishwaser.... You can wash your own car or have it washed.... that does not mean car washers are bad guys for taking money or not washing your car when you want to pay less than they worth.
More like shut down sites like Zillow. They're pricing EVERYONE out of the market. I still cannot find a house because prices keep climbing faster than I can save up. I sometimes wish I was never born in this day and age. It's just nothing but despair.
Private sales this report was based on people marketing on a realtor platform and expecting to have realtor results.. If you want to have at it and market on tik tok God bless you but don't complain when your home doesn't sell. There is so many legalities that go into the industry that you will never know.. a private sale without someone looking after your legal interests is a huge mistake. My business works with private citizens as well as realtors and I always steer them to a pro, I don't get commission from it, it is just the smart thing to do with your largest investment.
@@OrlandoMac "this report was based on people marketing on a realtor platform and expecting to have realtor results" The seller placing a listing themselves isn't at all the issue here. If a buyer's agent refuses to show a home that is a good fit for a client, it's a violation of their fiduciary duties. If you're suggesting that's just business as usual then you're proving the point that the system needs a massive overhaul, including charges against those who break the law.
My wife and I bought a house last year. We saw a few and then found one for 50-70K less then the ones we had been seeing but we liked it. Our realtor gave us a speech about how an extra $200 a month on your mortgage gives you so much extra money in buying power. She told us many times we can do way better then the house we live in now. She was legit angry that we didn't max out what the bank would loan us but came in 100k less. This business is insane.
Wow! My agent kept me in the kitchen while I had an inspector in the house. As a first time buyer I fell for that trick of course and only later found out I should have been asking many more questions. Those people are as slimy as it gets.
I'm married to an agent who does what's best for her clients. She has shown FSBO's that offer commissions if that what her clients want to see. I would suggest anyone who needs to use a Realtor is to do your homework. There are plenty of web sites that offer customer feedback on Realtors so do your homework. Among the ranks of Realtors are those who want to do the minimal amount for maximum gain. Any red flags with your Realtor I suggest you move on and do your research on the next one.
As a realtor I am so happy this is happening. Not once have I turned down a lower commission, in fact I have put down my commission on my own many times just to help my buyers secure a home. I am glad this is coming out, I hope more comes out. Makes people who practice real estate for the love of it look bad and get pushed out of real estate. I am on the verge of giving up real estate because of the agents not the clients
If this is true then don’t give up because we regular house owning citizens need ppl like you working in the industry. I personally would have to be in a dire situation to sign any contract for an agent to take the 6% it is here in USA. Most I’d consider is 3% or I’d spend a year trying to sell privately. I own 2 houses and the first is a multi family property I lived in for a long time and we didn’t use any realtors for that. Wish I could have done that on my personal home. If and when the day comes to sell I will waste a year trying to on my own first unless an agent negotiates. I will never understand why an agent wouldn’t be happy to have another property to sell even if the pay day isn’t as big, income is still income. Today houses are selling way faster too so even less work for the agents
Seems extremely odd to want to quit or give up if you claim that you're even giving up your commission or lowering it for some client's. It sounds as if you're actually the opposite and selling a home to people who can't afford it.
@@lh98 in the USA it's 6% minimum and is through the government & State. Nobody would sell your home or sell you a home unless you're buying and selling and it is worth it for the commission at such a low percentage, period. Anything above 6% is sketchy.
Most buyers find their own houses on the MLS listing anyway. Then just call their realtor to arrange a viewing, make a bid, and settle the paperwork. But most of the work is done by the consumer and the real estate lawyer who does the real finishing touches and legal/financial paperwork. Realtors don't do much at all. In this digital age, they have become mostly obsolete. Time for a change
absolutely agreed. Both time I was buying, I found my own house on MLS. First time took agent, since I was told better have one, won't cost me a penny - didn't do anything for me though. Second time was buying in different city, so i thought better tell this local agent to connect me, still no much help - all was up to me, what to offer, what to ask in negotiation... really didnt need one in the end. Mortgage broker on the other hand I prefer to hire and helped tremendously!! A lot of people now hire only when selling properlty, but not when buying 2nd, 3rd property.
Every house I have ever sold, I sold myself. This is my advice: 1. Find a real estate attorney to help you construct a contract that will benefit both you and potential buyers. 2. Write your 'for sale by owner' ad and list it in your local newspaper, with an 'appointment only' notation. This is where potential buyers look first. 3. Do your one on one negotiating with potential buyers, and adjust your contract to suit both you and your buyer. Your attorney can help with this. You and the buyer will both be happier in the end. 4. Your attorney will handle the legal end such as title search, lender options, closing date, etc. 5. On closing day everyone can meet to close the deal in your attorney's office with all of the paper work ready to go, including your check. What you will pay your attorney will be thousands of dollars less than what you will pay a realtor. 6. Give the new buyer the keys and a hand shake, and go your separate ways, with no self-serving realtors to deal with. Hopefully, you have already moved out. If you are planning to sell your house try this for a couple of months. If you decide that this is not for you, you can always call a realtor and collect a lot less profit at closing.
Where do you list your homes? I want to stay away from Facebook because it's infested with vulture RE agents. I want to have a conversation with a real human being about my home, not someone who 's after a payout.
We did a similar thing, we sold our own house in a private deal. When a real estate agent told us we'd lose 6% to them, I told my wife, "Heck, we could DROP the price of the house by 6% and be at the same place!" House sold in a week. I'm afraid the agents are going to price themselves out of the market eventually. Times change.
Another thing is that people have been convinced that it's risky and dangerous to buy from private home sellers and that the real estate agents make sure you are not being sold a bad house with "huge" problems.
The first guy agent was honest and he had ethics. He said he just wanted the buyer to be happy and have a home...he was all in with the low percent commission. He was honest.👏
A Real Estate lawyer who says "I can't believe an agent would act this way" is simply not credible. I have yet to meet an honest real estate agent. Their "code of ethics" is 99% about them not stealing each other's listings and 1% related to their treatment of clients.
@@Human551 you need to realize, we have insight into market trend for the past years on sale prices, that is available to everybody now, just not agents, so we technically don't need agent estimates we have apps for that. You tried shut down bongol, but others are popping up
@@Human551 we sold a house ourselves at a higher than market price because prospective listing agents were undervaluing the home hoping for a quick sale or to buy and flip it.
@@Human551 It is easy for a home owner to price their property. Real estate agents send out home value notices every week to home owners, hoping to trap them into selling their home.
I sold my house independently and saved $18,000 in commission fees. Real estate agents are not worth the money. Selling a house is a fairly easy process.
@@Gr33kChief This is exactly why the government needs to change the % to 3% max. When the housing market was low, it was acceptable. But now even houses are going in the millions, 5% is too much.
@@normanran3589 in my case I live in the Quebec side. Paid $1000 to get Duproprio listing services, they send a photographer to take pics of the house, post the pictures on their website and you get access to notaries where you can call and ask unlimited questions. It's a very easy process trust me!
Love how the second realtor is saying "he" instead of "she" because she's lying just that much. Inventing an entirely different person, not just nonsense about the house being overpriced. So scummy.
This country is so gotdamn expensive. Canadian consumers don’t do anything about it. Internet, food, gas, income tax, everything is so expensive in this country. So hard to get ahead unless you come from generational wealth. It’s depressing
Through the years of home shopping I wondered why it seemed the realtors silently REFUSED to show me certain houses I requested to see. I have been searching for years to find out why until now. Thanks
What kind of a mortgage did you qualify for? There is no sense showing you a house you can’t afford. It’s heartbreaking for you because your offer won’t be accepted and it wastes the agent time. Working on commission only makes you very mindful of every morning
@@emilyfeagin2673 Don't be insulting, do you really think your grasp of math is better than hers? She knows what she can afford, you nor any other agent should be preventing a meet up between a buyer and a seller because "it wastes the agent time." You are only proving people's point here.
And I tried to purchased a home that was listed wat under value. The realtor ignored our contact, and it was sold at the under valued price. I bet the seller got screwed thinking he/she had no offer.
I dealt with this five years ago when I sold a home in Orlando, FL. It took a while, but I was finally able to sell it myself with zero fees to somebody that really loved the home. It felt good. Just hang in there. You're going to get a lot of calls. Screen them and tell the realtors to go away. I would do it again any day.
Yes many buyers prefer to bring their agent to evaluate the price with comparable homes recently sold. Most homeowners have no clue how to evaluate their property and less than 10% of them actually pay a licensed evaluator cause they are cheap. Most of them have an outdated land survey and wont pass at the notary. Its good that the paperwork is well written by the buyers agent, many times parties accept the contract and there are many errors. Also if they only go with a notary, he or she has never seen the home and cannot suggest what to put in the Sellers declaration and in the contract to protect both parties. We prefer houses on the MLS because our agents can directly have access to the Sellers declaration, history of the property, past expertises, etc. Which saves a lot of time for all parties. I think the private home owners who want to sell on their own, should have their platform and not be on the MLS (agent platform).
Exactly. Real estate agents are just dirty car salesmen who make more commission. They've been rigging the industry for years to keep their jobs in demand. The amount of money they make for being a middle man during a sale is truly terrifying. And apparently, our generation has far too much spending money to care.
Never owned property until my dad passed away. Didn't hire an agent, and didn't need one. The process was seamless. In fact, it was more of a hassle buying a house with an agent.
Yeah i don't understand why people hire a middleman. Do you're research and you can get the price you want and the buyers can save money not hiring an agent
If most agents are ignoring the lower commission homes I'd be selling them like gang busters. And I'd want to expose those unethical agents. They're the ones who need to be blacklisted!
50% goes to the broker, then you pay taxes on the remaining 7k that leaves around 4500. you just worked 60 days or more to make 4500. less than minimum wage.
Everything around me is on the market less than 24 hours and 2 to 30 day closing (not sure 60 days is accurate in all cases and not working for 60 days)
@@kendramales6446 that's irrelevant if you been in the real estate business as long as I have you understand that commission is what we live on to cut a real estate agent commission down to 1% it's absurd
@@kendramales6446 most of these commissions are split with broker and then taxed at a very high rate. And because there are so many real estate agents the competition is hard we'd be lucky to get one deal a month if that.
@@kendramales6446 I can tell by what your saying your a new real estate agent. This real estate market is saturated with real estate agents hungry for a deal I have known certain agents that haven't had one deal in the last 3 months that commission that they make is essential for their survival to have some greedy seller that probably got about more than a 500,0000 dollars in equity built up to nitpick you over one or 2% commission that is greedy
This video only scratches the surface of what is really going on. I`ve been a realtor for 11 years. This system we have is set up to benefit the realtor and not the general public. It is so full of unethical, self absorbed low life people that are only in it for themselves, it`s sickening. Everything should be more transparent and designed to protect the consumer, not just take their money. As far as reco, crea etc goes, they are a typical governing body. It`s a boys club and you (and I) are not in it. I know a lot of realtors and can count on 1 hand how many put ethics first. It`s a pathetic industry full of dishonest crooks with a few good ones sprinkled in.
After more than 40 years I retired earlier than I wanted to but I just couldn't stomach it any longer. RECO was the start of it. I thought the name was ironic at the time LOL
@No One It's the real estate agents who have created and pay for this system so why should it then become open source? You wouldn't expect to be able to park your car with a for sale by owner in the local Ford dealership's lot for free and then and expect them to sell it, would you?
In the US? if so, as seller you can enter the closing office with out being a realtor and the buyer doesn't have to be a realtor if both parties are in agreement on the price. I wonder if that's the same in Canada tho...
I SOLD MINE DURING MY GARAGE SALE/ A 3HOUR RECORD!! YUP! AND WENT TO A TITLE OFFICE AND NO STRESS, BUYER WAS A CONVENTIONAL LOAN HAD THEIR HOMEWORK DONE AND WORKED OUT AND WE KNEW EACH OTHER AS WAS PREVIOUSLY SO IT WAS NICE, ALSO BOUGHT A HOUSE IN TOTAL OF 24HRS!!! NO KIDDING, IT WAS THE VERGE OF FORECLOSURE AND THE BANK RUSHED IT AS WE WORKED W SAME BANK AND SMALL TOWN!! YUP!! IRONICALLY,,THOSE SAME PEOPLE CAME BACK AND BOUGHT IT BACK 3 YRS LATER !! IN BETTER SHAPE BOTH THE HOUSE AND THEIR JOBS! LIFE IS INTERESTING!!
I am in the US and sold my own home 3 different times and only went thru a title company. You DO NOT need a realtor at all. Save your money and sell your own home. Title companies will walk you through it.
The whole system is unethical it seems. The lawmakers themselves are not willing to talk this through. what would we expect them to change or make difference is anybody's guess.
@@rebeltvr6046 Obviously she didn't. What people don't realize is how difficult it is to work through all the steps to sell a house. Multiple inspectors, legal paperwork, loan availability, and negotiating to name a few. Also a "hands off" sale provides a layer of protection if the buyer has remorse or their is a problem with the house that may not have been known about at the time of sale.
@@ripvanrevs purplebricks and other sites makes the paperwork much easier now. And when AI takes over, those sleazy greedy real estate agents who overinflate house prices for their greed will be out of a job. We're not far from that job thankfully being made obsolete.
Sold my home by myself, cost me less than $1000, in 3 weeks. Realtors kept calling me, telling me I won’t have success like they would because I didn’t have the market knowledge. I was a 28 year old machinist. If I can do it so can most home owners. Save a ton of money by doing your own research on the market and how to prepare your house. Sure it takes hours, so what. Calculate saving 30-60,000 by how many hours it takes. Its a zillion times more per hour than what they make at their job. Too many dishonest realtors charging way too much and are largely responsible for jacking up the housing prices in the last few decades to the point where the average Canadian middle class can’t afford them anymore.
Preach, brother Grunf... PAY YOURSELF!! It is more than a few hours, but you will make the RIGHT call every time. Better than trusting some beauty school dropout with your life savings.
this is my favourite realtor line: You need to use a realtor to buy so you dont get stuck buying a bad house and so you dont overpay.... also realtors: you need a realtor to sell your house because if you dont use a realtor you will be leaving money on the table.. Meaning you wont get as much money.. LOL so apparently.. realtors who sell your house get you TOP dollar.. and realtors who help you buy a house make sure you get a good deal... Ummm. something is not adding up here
It’s not a service industry. It’s a “ ME” Industry. Florida Realtor, I’m beginning to see more & more reason as to why agents are failing their first 2/3 years of the business. Greedy , selfish, miserable, egotistical , prideful people.
Realtor is just another word for "lier". When I was selling my house a couple of years ago, I had someone make an offer then back out a day before settlement. My agent tried to keep their deposit for herself even though the contract said the money would go directly to me. She was hoping I would "just trust her". After that, she would rarely return calls and ignore emails. My house did sell two months later, but she showed her true colors.
Highly unlikely,. The buyer's deposit should have been in an escrow account that an agent could not keep even if he/she wanted to. If wasn't in escrow and what you say is true, you need to report that agent to your state's Commission, and maybe even the AG.
Correct. People fail to realize that we are a business. And there’s more realtors to chooses from. We still have bills, taxes and splits to pay on each transaction. But that’s not talked about in this video.
I also noticed they're not showing proof on the other side. Only selective recording 😌 I don't doubt some aren't terrible though. There's bad workers and bad people in all fields.
Yeah, except it happens all over. I've been a agent in several states and just sold a house on my own. And I had several agents directly call me and ask what was I willing to give them. If I didn't offer them 3% they didn't want to show clients my house.
In the US, My buying agent disclosed to the seller my upper limit of financing which was 30-40% over the asking price of the home I was buying. Once she did that, I was unable to negotiate price at all with the sellers because they knew I could afford it. I didn't find this out until I was under contract. Also found out she was telling the seller agent we were wasting their time and would never close because I refused to use the relator's mortgage agent. I was preapproved for 250k more than the houses I was looking at and was putting 25% down, with a VA guarantee. I came to the house to take some measurements and the seller just straight up asked me what was going on. I was shocked at what I was being told. I should have reported that relator.
Yeah it is against the law for realtors to discuss any information as to how high or how low you are willing to go in the negotiation process. Even more so if you signed a single agent contract with them
Yeah. There is no incentive for the buying agent to help you get the best prices as it lowers their commission. It's really you against both agents and the seller. I was told to offer over the asking price if I wanted to be considered from day one. My second agent never stressed me out. She never argued when I tried to get a discount and she fought for me. All my recommendations go to her.
Wow, as a Realtor, I’m disgusted by the actions of some of these agents. I have done transactions with a lower commission and at the end of the day my duty is to my client and if you do a great job they will refer people to you and likely use you again. This was hard to watch 😡
I don't how long you've been practicing real estate but this a common practice by many agents unfortunately. I was married 20 yrs to a real estate agents and she's one of the few who still practice honesty and integrity. Their Commision is the top of priority list. The rest come a distant second.
I have a question for you. Why do realtors steer Single people away from houses they want to buy that has more than two bedrooms and act like they know what's best for the single buyer? I had real estate agents that did that to me in the US. Is that even legal?
As the owner of the house has the CHOICE to make for what she OWNS the real estate agent has the CHIOCE to make with what he OWNS that is DATA earned by him by putting time and effort and advertisement costs. Why are you upset for that? If you think you can do it yourself then do it yourself... !!! 😊 The same thing happens in any other fields.... You can wash your own disher or BUY a dishwaser.... You can wash your own car or have it washed.... that does not mean car washers are bad guys for taking money or not washing your car when you want to pay less than they worth. Plus... when you do it yourself you gotta wait for the risks of fradulant buyers in the absense of agent double checking them. Good Luck... !
I'm not an agent yet. But i understand services..I sell my house before and I pay 7%...Because they don't make a sell every day..And like us they're also need to pay bill.
Different problem you can run into: I was looking to buy a house, in the US. I told the realtor that the house was over-priced. She blew up. Had been in the business for 30 years and that the price was right. 6 months later it sold for HALF of what she said was the correct price.
As a buyer I would always do my own home searching on MLS and elsewhere to find homes I want to see, no way would I rely on an agent to find me all of the houses. Everything is negotiable. Kudos to everyone exposing the system and to busting it wide open. 👏👏👏
Realtor fees are insane. Why is it a percentage of price instead of a flat fee anyway? It takes just as much effort to sell a $400K house as it does a $900K house.
How about a $13 Million one? Think that will sell right away or maybe take a few years? And, yes, I saw a $13 million MLS listing that didn't move while the 2.5 million ones were sold relatively quickly.
So it's the same to sell a BMW for 100k with selling a ford for 30k, right? Any agent would love a flat fee upfront - you sell or not your house, you pay the money when you sign the contract. Would you prefer that?
@@ScubaSteveCanada how is this more work for a real estate agent? is there a huge line of people waiting? there must be some middle ground and not just 5% + HST, so more like 5.6%. for you showing the place say 100 times is worth 730k on a 13 million dollar home? that's normal? how about you go to a grocery store and they say your groceries are extra 5% as this is how we pay our cashiers? would you say: I'm gonna go to a self checkout?
@@ScubaSteveCanada the $13m will take longer, but not because more people are looking at it and making it harder for the realtor. It will take longer to sell because the buying market for a $13m home is much smaller.
This happens extremely often. The real estate board only pretends to care. Unless there is more strict enforcement, reporting, and punishments... it will absolutely continue.
Why the hell do you need an estate agent anyway? What's to stop myself, a private buyer and yourself, a private seller, conducting the transaction on our own without involving any third parties? Sure, there's paperwork to file, but that's more than doable with a bit of reading and I'm sure local members of the civil service would gladly assist when called upon to do so.
I was on the flip side 8 years ago when selling a condo. My realtor wanted me to spend tens of thousands of US dollars in upgrades to boost the selling price. These condos were nice but more of a starter home for most and not high-end. I knew I would be losing money by following her advice, so I refused (after a heated discussion) and in the end, had no problems selling. Fast forward 8 years and I am now getting ready to sell my current house at 4+ times the selling price of my condo. That realtor will not be getting my call.
As a realtor we have to advise our clients on how to make most from the sale of their homes. There is nothing wrong with her recommendations. All you do is thank her and say you're selling as is and don't have the time and budget to do it now. Realtor will move on and do whatever else is needed to put it up in the market. Why making a drama out of her recommendation? Unless there were more to the conversation that you haven't shared then I understand.
@@wowieok6310 If selling was that easy, then everyone would do it. It's a skill that the highly productive agents have obtained from years and sometimes decades of experience and schooling. It's like asking a roofer why they charge $1000s of dollars for putting few shingles and nails, a renovator for just putting up some drywalls and flooring, a PM for just sitting in the office and have meetings and calls, a CEO for just emailing, sitting in office holding meetings and stuff. Every field there are people who make $1000s of dollars. Whatever you job is, why do you get paid $1000s of dollars? If you think selling house is just as easy as you make it sound, why don't you get your license and go start selling. You ppl are just buncha lazy bums who are just jealous of agents who make more than you. Like most fields only 20% of agents make descent living in real estate the rest just make same wage as you.
My husband and I had a realtor that steered. He would only show us houses that he had listed and if I suggested to look at a house that wasn’t his, he would make excuses for us not to buy it. My husband and I stopped all contact with him and bought a house without a realtor.
@@OG-cz5nt But they really can’t serve the best interests of both the buyer and the seller at the same time. They may be honest and good people, but they can’t do the best for both sides at the same time.
I’ve sold homes from $9,000 to 2.5 million and treat all my clients the same. It doesn’t matter about the commission, just want my clients to have a less stressful home buying/selling experience with no regrets.
It's tough for me to see 6% of the sale go to realtors when all they are doing is showing the house. The title company is the one that takes care of most of the paperwork.
Not true. The title company does the title work and escrow is responsible for gathering information pertaining to liens along with recording the transfer deed and disbursing the $$. Agents are responsible for not only listings but disclosures, ordering inspections, coordinating with the lender if one is involved (if not, they are responsible for verifying adequate funding to close the transaction), opening escrow, and a litany of other things although most Agents' Brokers assume the majority of these responsibilities since it is ultimately THEIR license which is on the line each and every transaction.
No... That is not aaaall they are doing... they do not earn money UNLESS they have a contract... So they get paid high because they TAKE THAT BIG RISK... As the owner of the house has the CHOICE to make for what she OWNS the real estate agent has the CHIOCE to make with what he OWNS that is DATA earned by him by putting time and effort and advertisement costs. Why are you upset for that? If you think you can do it yourself then do it yourself... !!! 😊 The same thing happens in any other fields.... You can wash your own disher or BUY a dishwaser.... You can wash your own car or have it washed.... that does not mean car washers are bad guys for taking money or not washing your car when you want to pay less than they worth. Plus... when you do it yourself you gotta wait for the risks of fradulant buyers in the absense of agent double checking them. Good Luck... !
Wrong, the agents are the one putting those contracts together lol. You don’t know the works behind those while it’s under contract not to mention the driving around showing many house many different days months till buyer find the home. Making appointments set up with other agents. Writing legal contracts negotiations lol. Try to be an agent and you will know the work behind the scenes. Yes there are contracts that’s super easy especially it’s cash no contingencies,and buyer that’s not so picky, you get lucky. But most of the time agents work are complicated. The Lender and Closing Atty depends on the agents making the contract close too 😅😅😅
As a Realtor myself, I have written complaints to Real Estate Council only to have them tell me to go to the Superintendent, who in turn directs me back to council. It goes nowhere. I fully agree that something needs to be done. In addition, our fees increase steadily for less service from our boards and associations, and there is no transparency regarding the salaries of directors, superintendents and the like. In BC there is a commission investigating money laundering, but they are leaving out investigating the involved real estate brokerages.
In Quebec we have Du Proprio service to avoid this trap. Agents have been trying by all means to have Du Proprio shut down, but each time that was only good for Du Proprio. It's basically a (now established) network of direct owner -buyer, listing price is fixed and on a whole other order of price than agents commissions.
Real estate agents and property managers are some of the most dishonest people you can deal with. Make sure you do your due diligence before calling them up. Hopefully, we get to the point where we can at least get rid of the real estate agents especially.
IF ALL PEOPLE, EVERYWHERE, were to ignore them, for as long as COVID was around, they'd all be working at Rotten Ronnies, or walmart, and such-like stores.
@@petersack5074 we do have good real estate agents to sir, and we worked as hard as Walmart employees, They go to the work at the specific time, we go for door knocking and prospecting at the specific time as well
This is why we did away with agents completely. We saw a seller listing their house on their own, and we directly contacted the owners and got the house without any issues. All negotiations were done directly with the owners and we were all happy by the end of it. Contrast this to the 2 years of having multiple agents who were clearly rigging the system and making sure that the best houses were going to their friends. We once bid 10k over the price because we just wanted to be done with it. The final winning bid was 100 dollars more than ours.
I would say that the folks over at the pay day loan places probably take the cake... But nah, anyone who is selling cars to people with no credit are kind of the scum of the earth. They leverage them with outrageous interest rates and then repo the car back when the client ultimately cannot pay the price. They clean the car up, and then sell it again. Just the downpayment that the next client pays covers the costs it took them to clean it up, and anything after that is profit. Once again, the cycle begins.
Great marketplace investigation. Organized real estate industry facing some tough challenges, this is just the tip of the iceberg. Politicians are willfully blind, regulators are incompetent, most realtors are clueless, and many housing analysts don’t know the difference between the monthly average sale price and the average home price. Canadian homeowners deserve better.
@@rps1689 the regulator agreed with him and said please fill out a report. They gave the people in next step and they couldn't be bothered to take it how is that any form of wilful blindness?
@@lissyniagara4533 yes thats why every department is sending you to another department so we turn in circles with NO STRAIGHT ANSWER FROM ANY AGENCY OR REGULATORS.
@@vmtl4659 .....not MATURE, RESPONSIBLE PEOPLE, these days. too bad, the system is going to crash, ..unless HONESTY AND INTEGRITY BEGIN to take 'over' ....remove all thieves......and their friends..... purgeing the system, will clean it up....
I am in Australia and can confirm we charge 2-3% on average and buyers agents are not common practice. Why don't you just look for the property yourself?
I liked their previous investigations better, when they didn't blur faces and they identified the people. I'm guessing they've gotten threatened with legal action by the losers they report on.
@@4seeableTV Probably so. I like how people can still identify which agents they are by their voices and body shape, like the chubby one with the accent.
as a realtor I hate that this kind of thing happens at all. I hope they all eventually get caught and face consequences. Truly shameful. Doing an excellent job for your client will bring you more business in the future, not sneaking around.
I completely agree as an agent myself it’s a shame that agents do these sorts of things. It really bothers me, it gives us all a bad name. I really hope these ppl get reported and now that they are on TV the probably will. It’s an agents duty to show all properties that meet their clients needs regardless of commission. I do know that there are certainly more agents that truly want to help their clients and have their clients best interest at heart at least Alll agents in my office as well as most of the agents I have worked with.
Im currently trying to buy a home with my fiance. All our Realtor did was say "Here are all the homes for sale in the area you want, meeting your criteria. Send me a list of any that interest you, and if you find any not on this list, send it to me. Ill make sure you get to see it. And sure enough, 3 weeks and maybe 40 houses later, every single one we've sent him, he has taken us to. Answered all our questions, was never pushy, giving great advice as we are first time home buyers. It has been a good experience. Just put an offer in today on a home, fingers crossed we get it.
Yeah I wish they would have talked about why it can be so worth it to pay that 5%. Agents are professionals and when you work with good ones they are worth every penny! Especially in a hot market!
@@kevincraig6033 for sure! they can get you way over asking price. My thing is at the end of the day after broker split, taxes, yearly realtor fees, my 3% is down to 0.50% haha!
We are really lucky to have a service as duproprio here in Quebec, bought and sold my house and when we sold it cost us less than 2k no agent involved. This service should be available across the country.
The Big problem is the buyers ignorance and the laziness of our citizens. A realtor is not needed to buy or sell a house. The contract can be filled by the seller or if you are still lazy a real estate lawyer will fill it for you for $300 in most states. After that the closing company will do all the paperwork and the underwriter if there is a loan will make sure nothing is wrong. Realtors most of the time make things worse and the big majority are not interested on the costumer at all. It’s the money and I don’t blame them. If you have a lot of money and want to hire a realtor to buy or sell it’s ok. If you are a working person you should avoid realtor’s.
@@jasonsaxe5661 Let's hope this investigation steers all the traffic towards you. It would be sweet justice for all those agents who are fans of steering.
I'm a retired professional home inspector. I retired out of military law enforcement and then inspected homes for 23 years before I retired. I was leader of the group in my state that pushed through competency requirements/testing for home inspectors and I served two terms on the states Home Inspector Advisory Licensing Board. I can tell you without reservation that some agents, despite the measures we put into place to prevent it, steer clients to specific home inspectors who they know will go light on the house and who will temper their observations of issues and present them to clients in friendly-to-the-deal language. It used to drive me crazy.
I used a diligent home inspector who was an engineer. I loved her and recommended her to my agent who suggested she might be TOO thorough to make agents happy.
Because the house near her house sold in less time and over asking price her house took 3 months and sold "near asking" meaning below asking! Let say I list for 1.475 and it sells for 1.575 they take 80 grand but you keep 1.495 but she listed hers for 1.475 and it got near asking so let's say 1.450 I would rather pay the 80 grand and get 1.495
@@lissyniagara4533 if you change your own oil, your car might go atomic while you’re driving it. also if you cut your own hair you’re at higher risk of seizures 🤡 pay me to sell your house or else your house might collapse tmrw
You are making an assumption. It could be the way around. There are plenty of houses sold privately and got more. Like you. I just made as assumption. Lol
"No one" in my country uses a realtor to buy a house, and if you don't want to use a realtor as the seller, you can get the contract fixed at an attorney's office for about 1500USD, no matter if you sell your place for 100k USD or 1.5 mill USD.
The buyer's agent DOES NOT WORK ON THE BUYER'S behalf! They work on commission too so it's only their own interest! Not only will there be 'steering', there will be overinflated bids from the buyer under BLIND BIDDING to pad their pockets. I've worked in a different sales industry in the past, everyone in and tangential to sales transactions knows what's up when it comes to making money. This is why I kind of find that real estate lawyers reactions a little disingenuous, she knows all this stuff too well to be surprised. Get rid of agents, they're useless in the digital age.
You are wrong Buyers agents work exclusively for the buyers benefit. Do you know how to buy a house? What is a contingency? What is a home inspection? How is your credit?
@@emilyfeagin2673 If you believe he's wrong despite this video theres something wrong with you or you're a butthurt agent. Agents do not work for the benefit of their seller or buyers they are working to line their pockets first and foremost. Clients come last.
RECO has to be fixed provincial government need to step in to clear this mess this video is clear cut evidence telling about the due diligence they have to do in there work
We offered 560k and the other realtor told ours that we were $20k under and could make a counter offer. We found out a couple months later that the house sold for 562k. Only 2 thousand more than our offer. So basically a straight up lie. This was the first or second house that we ever bid on, on our way to buying our first home. Me and my wife realized fast that it's a crooked game. This was in August 2022.
@Weston Hall Are you only selling or buying a single house? My licensing (not real estate) cost me ~$2500 to get, and costs me about $1000 annually to maintain. On top of that, I also have time spent driving to and from client homes, have 'sales' fall through, lose clients that I have 'spent' money on, etc. I didn't expect to make all that back on a single client, why should you? And 50 hours of work to get $2500 is $50/hr - AFTER fees and taxes. That's a pretty good pay in this country. Sorry, no sympathy here.
@Weston Hall I run my own business. In a commission based industry. I am well aware of the costs associated with it. But my example used your own numbers - if you make $2500 net on 50 hours work, that's $50/hr. The average hourly wage in Canada is $29.61/hr (source: Statista), so even if your sale example took 80 hours or your net was only $1500, you are still making more per hour than the 'average' Canadian. And your advertising (and other) expenses are tax deductible. That average Canadian wage is pre-tax. Now, I am not saying the whole industry is a rip-off. But the vast majority of real estate agents I know (and I know a lot) THINK they work harder than they do. As for your note that the average house price in your area is $380k, if you are only selling one every four months, economics would tell you that there is either a scarcity of buyers, or an excess of selling agents for the market. Either way, an unrestricted free market system would result in the 'cost' of a sale to go down (i.e. lower commission).
This happened with us with a fully listed MLS home in BC. We couldn’t understand why our home wasn’t selling , so I set up a camera , agents want to sell their own agencies homes , or own listings so they make more commission . I had a realtor say absolutely nothing , or had realtors say derogatory remarks about our home , not coming prepared to know the positives of the home, bringing clients that wanted kid friendly (it was a over 50 plus strata ) or not knowing enough about the property on purpose so they can use as comparison to their listings . They don’t LISTEN to their clients . I reported one agent to her agency. They wanted me to call them and explain. I already explained what I overheard so just said this is what she said and I’m just letting you know. We ended up going outside the area & having an exclusive listing with a realtor we knew for over 30 years . She lived out of town. She sold our home After three years of using local realtors .
Dainty one can you message me. I believe I have several Realtors using my home as bottom of the barrel pricing. Where should I put cameras to catch these low lives...
if your baker put the price up 4 fold would you still pay it go to another baker? and if you went to the next baker and they're price had went up to the exact same price and every baker you tried had suddenly done the same would you pay it, or either go to the one that the rest was saying was dirty with bad bread or bake your own? of course they have the right to make money but at the rate that is fair and not breaking the law for their own greed!
I was not shocked that this happens. Kudos to the first realtor for being honest.
They need to start capping their commissions! a certain percent at a certain amount. Watch them stop scamming.
@@zc3544 5% is a cap isn't it?? Very few are paying 6 or 7%.
@@ScubaSteveCanada I meant cap it @ maybe 2-4% on the first 400k or so.
WOW REALLY?
She expects agents to bring people to buy her house when they have other houses to sell which they get paid more for! 🤦♂️🤣
Anyone who thinks shes in the right ill give you a job paying you less! ITS THE SAME THING!
@@danquaylesitsspeltpotatoe8307 if I’m looking for a home, I want to see all the houses regardless of how much the realtor makes from selling. Not doing this is cheating the customer.
We had an agent one time that was so, so good. Lowered his fee and worked with us for MONTHS in a hot market in the best neighbourhood. We wanted it for the schools but, it was over our budget a bit. I mean that guy went above and beyond. Fast forward 28 years and I have referred every person I know who was looking for an agent to him and he has sold houses of at least ten of them. Be good to your clients. They WILL remember.
My husband and I as well. She was amazing. Every Thursday night I would give her my list from MLS and she would contact each one with my questions. By Friday morning I knew which ones I wanted to see over the weekend with availability times. Bless her heart she did this 4 months. She was a personal referral from family friend. I now give away her cards / website to anyone needing an agent. It’s the least we could do!
We purchased an 1892 Victorian ♥️
Mmm. A
@@bc5001 Yes. Her fee was $13,000.
@@bc5001 $26,000 total for both realtors. They both charged minimum.
Serious respect for the first agent. He was honest and looking out for his clients and not for his pocket.
Thanks. It’s me
Kick Your face ... do You call for a lawyer at four hundred and fifty 🇨🇦 dollars per hour ... or do You suck iT up ... p.s the lawyer gets paid by the Attorneys cousin (who's wife) sold the shoes that kicked You in the face. Officer taking report his wife delivered them and had coffee ☕ ⚖
It’s hard being a realtor. They’re in the business to make money…. You hire an inspector and you do your own research before buying it…. Don’t take what the realtor say….Seems kinda mean to make a tv show on hard working realtors….
Exactly. I wish they would have shared his name and face so local people know someone honest they can go to.
@@AC-es7uuWhy is it mean? I was a Realtor and I firmly believe that 5-6% commissions are absurd! Every buyer and seller should know this
If people stopped using agents then the system would be forced to correct itself and they would have no choice but to take less commission.
Here in Europe we have web pages with home listings and most people just ignore reality agents. We contact the seller directly through the web pages and we go visit the house with our builder professional who checks the status of the house and then we visit a specialised lawyer who do all the legal stuff and arrange the money transfers and communications with banks. Their work is not very expensive and it is not linked to the price of the house.
exactly. its not hard math there is it.
We saw what happened to the first lady
Bahahah ok apply this logic to every other industry then.. as a realtor, some clients you end up showing 40 to 60 listings. You do research on every one of them on your buyers behalf, you drop everything your doing to work them and their needs into your schedule. You miss out on holidays, get stuck in traffic when you could be at your kids sports games or dinner with family. You negotiate to get the price they want. You connect them to trusted inspectors, loan officers, contractors, etc with a network that's taken more than a decade to build. You do all that with not so much as a penny before the property is sold and closed. Considering all that and more, you still feel like the agent doesn't deserve a 1-2.5% commission? You're either the cheapest SOB on the planet, or the most selfish POS lmao. You get what you pay for bud
@@risharehraje793this isn't Europe bud. You guys charge people to use public restrooms lmao. Congrats on being able to find your own place to live! You want a cookie?
THIS is TRUE Journalism. And right on time, people need to know this
I have to disagree - they hid the agents from the public.
No s hit
@@marcovargas4483 They could get sued on terms of defamation…
@@Hartmann45 Yes, I understand that. My response would be: if you're going to do an investigative story, then do it, and prepare for the possible repercussions. Otherwise, don't call it investigative journalism and instead just do a regular story.
I agree!
This show is epic!
I sold my own home and I'm not a real estate agent. I lived in a high demand area and I knew it. I advertised online, on Kijiji, and put up signs in the neighborhood. You don't need for MLS. I had 1 Open House where I got 5 offers. I sold it that day for my full asking price. After I printed my own purchase agreement which you can buy at Home Depot, I took it to a lawyer who I paid $150.00 to look it over. I would try do the same on my next home sale. I think you should always try to sell your own home first.
Since then have you ran into any issues with your buyer or solo process like any legal trouble?
Good selling your own house.
FSBO lol
That worked for you in a seller's market. Most times you need MLS.
And if you sold with an agent you would've sold way above asking and would've had more offers.
Commissions are negotiable, there is no such thing as a "standard" fee. As a Realtor this is truly upsetting. We are to negotiate our fees with the seller, and pay half to the agent who brings the buyer, period. If the buyer wishes to see a house that is listed for 1%, it is my job to show the buyer that house. We work for the client, so take care of the client! Do what's right and your work will be blessed
Yes standard fee because it's not negotiable on the realtors part. Ru willing to list for 1% and share that? I doubt that because It wouldn't even be worth all that time invested. As a realtor u should know your worth.
how it is a violation? Lol good realtors just won't take the listing. YOU can't make a realtor lower the commission if they dont want to. So again they can negotiate but it's not a violation if they choose not to.
In US it's known as Sherman Antitrust act, prohibits price fixing among competitors
@@johnnycalderon9951 found the realtor lol
@@mikee2398 lmfao
I gave a full offer to a real estate agent. He never even provided the offer to his client. He hid it because the listing was still only a week old and he wanted to find someone who’d offer him more. His client is 86 years old. I had to drive to the client’s home and tell him my offer for him to find out i existed.
If this is true , you can take legal action.
For real its illegal to not disclose the offer to their client, you can sue them out of existence
More than likely the agent was wanting to make it look like there was no interest in the home so the agent’s real employer could come in with an offer 10% below asking. This kind of thing happens all the time. The agents don’t always work for you but are employees of another company looking to buy homes for cheap.
What ended up happening?
CBC always exposing what needs to be exposed. Marketplace is such an amazing show. Thank you!!!
CBC never exposes politicians.
Um WE NEED to know that first honest agent. It is SO HARD to find good men like that PLEASE we need a name to work with him😩!!
Wasn't the show supposed to be done ? I'm so happy it's still on
@@jimmyzhao2673 Sure they do
Actually, it was pretty weak. They gave zero insights into real estate business and almost sounded like they are promoting cutting real estate agents income. Do you know what the average agent actually makes in the US and Canada? US: $41,000 a year Canada: $55,000 per year. If you dropped the commission from 2.5% to 1% then in the US the average agent you go from $40 K to less than 20K...Say you're making $200K a year if the average went down 1.5 times less then that's a huge cut in pay. So ya...1% is actually a pretty big deal. And this is not people being greedy!! It;s actually fighting for you career and future. Most realtors are not rolling in millions!
I don't understand how a realtor would completely disregard a lower commission vs NO commission.
If they work with a brokerage that provides all their listings the commission might be paid through the brokerage, brokerage will take a cut before giving the broker their commission, they may have a policy that the commission is fixed not unlike a union trying to set a base salary for their union members.
So this is basically like a union setting the rates for the cost of their labor/service.
That said, nothing is stopping independent brokers from selling at whatever rates they want nor is there anything stopping individual sellers from finding direct buyers without brokers and brokerages, but of course it's far more difficult since they only have access to their personal network and not the extensive listings of an established brokerage.
As a realtor, I completely agree. I'll take $14k now and hopefully get the chance to sell the home for them later. Or not. Either way, I work for the client. End of story.
They are Greed, their is no another answer.
Because some people would rather have all of nothing than part of something. I don't I understand it either. I remember how a lot of agents had to find a new line of work when the housing bubble burst in 2008. I don't think people learned from 2008 because I'm seeing the same things that I saw in 2008 with a lot of agents being so greedy that they put their commission ahead of service to their clients. Some even helped steer clients to mortgage companies whonwere peddling exotic mortgages that people took out and shouldn't probably wouldn't have if they understood what they were really getting vs what they were being made to think they were getting ( those ARM that deemed great until they adjusted multiple times and to unpredictable rates that eventually made the loan payments unaffordable)
It is not greed, but think about if everyone in the industry offered 1%?
This is one sided
Another problem: since the agents get paid a percentage there is an incentive for them to inflate the price of the house by faking bidding wars etc, more transparency is needed.
It is a problem that is long overdue for fixing.
Ponzi Scheme.
You forgot to mention the perks and the eligible tax deductions for their expenses that can lower their tax rate at income tax time.
Aha completely agree
@@Human551 Agents made a living even when houses sold for $100,000.00 35 years ago.
I painted a sign on a piece of plywood. By the end of the month, cash in hand, I gave the keys to the new owners. We used a real estate lawyer to process the transaction, the cost was $800. I had decided to use an agent if it didn't sell in 3 months, all it cost me to try on my own was nothing, I already had the plywood and the paint in the basement.
I had an agent that showed me disrespect, disrespect for my house, and sloppy work. Sign wasn’t out on time, open house was a free for all, no monitoring the ppl walking thru, no lights out, shades drawn afterwards.
@@vallee7966 I was very lucky, in an unusual house in a busy location, with a giant sign. Otherwise I'm not sure it would have gone so well. I don't think regular people can list on the mls, just FSBO sites. Ugh, I'm so sorry you had to go through that, just reading your comment makes me think of people rummaging through my skivvies!
I’m happy private sale worked out for you. 😊. Unfortunately many Agents will steer buyers away ( if the mention the private listing to them). Very easy to “ suggest” a cracked foundation.. or that they’ve heard there “might be water in the basement in the spring.“
@@brendalabranche365 Absolutely, in my case it all happened so fast, low integrity agents didn't have a lot of time to play games like that. And buyers can, and should still get an inspection.
And, buyers with sense would likely realize they save money when they buy without having to factor a commission into the price. For those buyers, talk about cracked foundations and leaks would just reveal the agent as money grubbing and dishonest. It could backfire and make them look really dishonest.
“Sold to a private buyer, no agents involved”
God I love a happy ending :)
How did you do this? I am trying to find out ways to buy directly from the seller.
That's what I want to do I'm planning on saving for 5-7 years then looking but I have no clue how to start 😭
@@courtneycherry5582 Saving for downpayment ?
@@LifeInTheWest527 yes
How much do you want to bet they went down on price more than what the agent would have cost?
Always felt it was an inherent conflict of interest when both the buyers agent and sellers agent work on commission. They both have incentive to get that price as high as possible.
Sing it from the rooftops. Massive conflict. Hard to prove the collusion, so it would happen ALL THE TIME. Only adding a third, flat-rate, objective party to relay info between the agents could slow (not stop) it... but that just adds complexity and cost.
What darkweb, untracked, communications do agents use to make their extra deals?
It definitely is not in the best interest of the buyer's agent to get the highest price possible, at ALL! There's a 90% failure rate in the real estate sales industry. That's right, 90% fail. Because most agents only care about the transaction and not the RELATIONSHIP. We do ten deals over our lifetimes with each client, whether those deals be repeats or referrals. If we don't negotiate the best possible price for that client, why would they want to reuse us or refer us to their friends and family? A lot of agents don't, all agents SHOULD. I'm one of the agents that will always act in the best financial interest of my clients. That wins in the end.
John DiGirolomo facts!
and not to mention that you cannot get the amount of the competing offers after the sale is done, so you can't even do a proper post mortem!
That’s ridiculous! Do you really think their percentage on a few thousand dollars would steer them into juggling facts snd figures.
It's not just steering but there are many more tricks in the book that they regularly use like asking for a higher commission, negotiating tactics... When I bought my house a few years back, there were broken windows, broken doors, broken carpets. I offered them $5000 less to cover the cost of repair of those items. But I told the realtor (buyer's agent) that I really loved that house because of the location. Later I realized that was a big mistake to tell her that because she knew we would buy it at full price regardless (or even offer more). So she came back and said the seller wanted a full price, no negotiation. I didn't understand why at first why they just couldn't reduce $5000 from a $700,000 price. And it's not like I was trying to low ball them or anything. It was for repairing broken things in the house. Later after we already bought the house, I found out that she teamed up with the seller's agent to NOT reduce the price for us so that she can get more commission from the seller.
Car dealers, dentists, and realtors are usually on top of the list of people you should never trust.
I always get a second opinion when it comes to dentists.
if you have proof of this. report it to your local Realtors Association, they will investigate. if not, you are just assuming.
Like that ever accomplishes anything substantial and productive.
You are very true.
@@rps1689 if it really that important i think its worth a shot. but lets be real, you bought a $700k home. $5k is a drop in the bucket for someone like you...and those real estate agents know it as well. you are letting them get away with it, and they will continue to do so. if you REALLY cared enough, you should at least report it. if you don't, you are letting them get away with it clean. imo your pretty much validating their shady tactics and letting their cycle continue...
Steering. Red lining. Threats. Ghost email harrassment. "The Board" does nothing. Should Realtors be valuing land taxation? Where are the assessors? Glad someone is talking about this.
Just ALL talk” … it’s unlikely to Change because the law (tax revenue) needs these benefits , especially at this time. I would call this as “Gas lighting” the issue. Government (most) doesn’t want to change this path of revenue… lots of power players benefit from it and the general public that complains don’t have the wear with all to change it. Unless the law steps in and accepts a large cut in revenue (land taxs and indirectly from tax’s on products for home maintenance. I like to have 2 places , a place to earn and a place to spend.
@@L0_V Yea, itll never change, not in this type of world.
Um WE NEED to know that first honest agent. It is SO HARD to find good men like that PLEASE we need a name to work with him😩!!
What do Realtors have to do with land tax?
@@MrOrangeonion you have to change your mindset to see change
As a home buyer and I saw a listing I didn’t give them a choice to show me the home or not. If they refused I dropped them and found another agent.
Good. As an agent myself, do not give them your business. We are supposed to be in your best interest.
This is why you should NEVER SIGN a buyer representation agreement.
@@speaknup8009 thanks for that tip
Agents are trash
It's like when car buyers let the salesman choose the car for them. happens more than people might think.
Lisa practices realestate law for 15 years and gets shocked looking at these very common practices. Thats even more concerning.
Lol! Well said. I have not bought property due to countless red flags so I assumed that's the typical RE agent.
She’s only here for the free publicity. Not defending her fellow agents at all. Red flag 🚩
It's more likely she's not shocked she's just playing it up for the camera
True!!! She's probably the biggest offender!! (If she's an attorney, she probably does the same) Lol.
Bunch of angry would be realtors in the replies.
I sold my house by owner in 2021. I got a bunch of calls from relestate agents saying they had someone interested but they wouldn't allow them to come unless I offer a good percentage commission for the buying agent. I would offer them 2%, only one agreed and came by. Most of them threw hissy fits about a "low commission". Then told me they would tell their client "it isn't going to work out" or something like that. Not sure what they would actually tell their clients but I definitely missed out on several showings because the agent was being a firewall.
I ended up selling with no realtor, above asking, no realtor fees.
Business Ethics is taught in Business Schools, but in reality profit above Ethics is the order of the day.
“Dignitity and an empty sack is worth the sack” rule 109 of Acquisitions
Unfortunately business ethics was removed as a course. Unfortunately more and more universities in North America are removing their ethics courses in their business programs. It should be brought back.
no offense but ethics don't win the day. its all about profits.
It’s all about the bottom line
Real estate agents don't have any sort of official business degree. Anyone, literally anyone, can be a real estate agent and that's a problem.
The larger question is did you report the two offending agents so they can have their license revoked?
No reply to this question either. No surprise.
You didn't finish the video, did you?
@@robertpraeg9504 yes I did, in fact, it was a loophole of blame and finger pointing, then a memo? A memo is not action, it's plausible deniability.
RECO is quick to find them. DW
Real state agents are thieves making easy money. The rates are ridiculous high to just upload pictures to a website and give a ride to a few properties. Homeowners shall sell themselves. One can purchase a contract for a less than a hundred.
Being a consumer it sure feels like a lot of real estate agents are like used car sales men.
They are one and the same. Same bait and switch tactics.
All sales are the same regardless of it being car or homes. They are scummy.
Don’t drag used car salespeople down to the realtors level.
Used car/used house, new car/new house same thing really
There's no better time to buy and write my paycheck that today!!
We have been working with our realtor for 4 months. At first it seemed pretty typical, but I started to find it wierd when she would consistently send us overpriced bungalows, pushing us to make an offer, but any fixer-upper or anything not expected to go 200k+ over asking that we approach them about, can barely even get her to agree to a showing.. really their just making more work for themselves though, because we're not interested in an overpriced bungalow.
Do you homework and find another Realtor.
Yes, I echo Bulldog… don’t waste precious time if your realtor isn’t working for you by at the very least listening to you.
We had an AMAZING realtor. In fact, I’ll give her a shout out for anyone needing someone trustworthy in the Nashville area: (not sure her range, as we are a bit south) Kay Worth with Keller Williams. She’s lively, encouraging, flexible and highly competent, with over 30 years of experience.
As the owner of the house has the CHOICE to make for what she OWNS the real estate agent has the CHIOCE to make with what he OWNS that is DATA earned by him by putting time and effort and advertisement costs.
Why are you upset for that?
If you think you can do it yourself then do it yourself... !!! 😊
The same thing happens in any other fields.... You can wash your own disher or BUY a dishwaser....
You can wash your own car or have it washed.... that does not mean car washers are bad guys for taking money or not washing your car when you want to pay less than they worth.
Realtors are useless and a Virus for inflating the prices
@@ARZAREH-uz8dcare you missing a couple brain cells?
Normalize Private Sales, time to oust the need for the realtor. Greed is so disgusting.
More like shut down sites like Zillow. They're pricing EVERYONE out of the market. I still cannot find a house because prices keep climbing faster than I can save up. I sometimes wish I was never born in this day and age. It's just nothing but despair.
Private sales this report was based on people marketing on a realtor platform and expecting to have realtor results.. If you want to have at it and market on tik tok God bless you but don't complain when your home doesn't sell. There is so many legalities that go into the industry that you will never know.. a private sale without someone looking after your legal interests is a huge mistake. My business works with private citizens as well as realtors and I always steer them to a pro, I don't get commission from it, it is just the smart thing to do with your largest investment.
The lady selling the house is cheap and delusional.
@@OrlandoMac "this report was based on people marketing on a realtor platform and expecting to have realtor results" The seller placing a listing themselves isn't at all the issue here. If a buyer's agent refuses to show a home that is a good fit for a client, it's a violation of their fiduciary duties. If you're suggesting that's just business as usual then you're proving the point that the system needs a massive overhaul, including charges against those who break the law.
@@OrlandoMac Realtors are not attorneys. Just hire an attorney if you have legal concerns, why would you need a realtor?
My wife and I bought a house last year. We saw a few and then found one for 50-70K less then the ones we had been seeing but we liked it. Our realtor gave us a speech about how an extra $200 a month on your mortgage gives you so much extra money in buying power. She told us many times we can do way better then the house we live in now. She was legit angry that we didn't max out what the bank would loan us but came in 100k less. This business is insane.
Wow! My agent kept me in the kitchen while I had an inspector in the house. As a first time buyer I fell for that trick of course and only later found out I should have been asking many more questions. Those people are as slimy as it gets.
they're parasites riding on your loan that provide little to no value.
I'm married to an agent who does what's best for her clients. She has shown FSBO's that offer commissions if that what her clients want to see. I would suggest anyone who needs to use a Realtor is to do your homework. There are plenty of web sites that offer customer feedback on Realtors so do your homework. Among the ranks of Realtors are those who want to do the minimal amount for maximum gain. Any red flags with your Realtor I suggest you move on and do your research on the next one.
The opposite too. Going over your budget and they sell on if the bank thinks you can do it, go for it.
This is the best show. Every Canadian needs to watch this
It is a good show, and so is the Fifth Estate.
Salvation has been treaded upon. Sorry it is over even in nowhere Saskatchewan. Very high value land
USA watching! Oregon
it's an even bigger concern that this isn't common knowledge. I have always thought only the governments pretend not to know this lol
It's the only reason CBC still has viewers.
imagine being the honest realtor whos like oh great thanks for wasting my morning cbs news
Took three months, but I'm glad the lady sold her house without any crooks involved.
She seems satisfied with the outcome.
As a realtor I am so happy this is happening. Not once have I turned down a lower commission, in fact I have put down my commission on my own many times just to help my buyers secure a home. I am glad this is coming out, I hope more comes out. Makes people who practice real estate for the love of it look bad and get pushed out of real estate. I am on the verge of giving up real estate because of the agents not the clients
If this is true then don’t give up because we regular house owning citizens need ppl like you working in the industry. I personally would have to be in a dire situation to sign any contract for an agent to take the 6% it is here in USA. Most I’d consider is 3% or I’d spend a year trying to sell privately. I own 2 houses and the first is a multi family property I lived in for a long time and we didn’t use any realtors for that. Wish I could have done that on my personal home. If and when the day comes to sell I will waste a year trying to on my own first unless an agent negotiates. I will never understand why an agent wouldn’t be happy to have another property to sell even if the pay day isn’t as big, income is still income. Today houses are selling way faster too so even less work for the agents
Don't give up, we need people like you :)
Seems extremely odd to want to quit or give up if you claim that you're even giving up your commission or lowering it for some client's. It sounds as if you're actually the opposite and selling a home to people who can't afford it.
@@lh98 in the USA it's 6% minimum and is through the government & State. Nobody would sell your home or sell you a home unless you're buying and selling and it is worth it for the commission at such a low percentage, period. Anything above 6% is sketchy.
@@lh98 thank you this means a lot …. I’m sorry for what you’ve been through. But it’s definitely giving me new breathe
Most buyers find their own houses on the MLS listing anyway. Then just call their realtor to arrange a viewing, make a bid, and settle the paperwork. But most of the work is done by the consumer and the real estate lawyer who does the real finishing touches and legal/financial paperwork. Realtors don't do much at all. In this digital age, they have become mostly obsolete. Time for a change
Very true.
Good points.
absolutely agreed. Both time I was buying, I found my own house on MLS. First time took agent, since I was told better have one, won't cost me a penny - didn't do anything for me though. Second time was buying in different city, so i thought better tell this local agent to connect me, still no much help - all was up to me, what to offer, what to ask in negotiation... really didnt need one in the end.
Mortgage broker on the other hand I prefer to hire and helped tremendously!!
A lot of people now hire only when selling properlty, but not when buying 2nd, 3rd property.
Boom, so true
I would like to know how to buy a house without any Realtor. Any guide online?
My hubby and I sold our home in B.C. last summer through Property Guys. It cost us $6000.00 . We sold in 3 months for asking price.
Every house I have ever sold, I sold myself. This is my advice:
1. Find a real estate attorney to help you construct a contract that will benefit both you and potential buyers.
2. Write your 'for sale by owner' ad and list it in your local newspaper, with an 'appointment only' notation. This is where potential buyers look first.
3. Do your one on one negotiating with potential buyers, and adjust your contract to suit both you and your buyer. Your attorney can help with this. You and the buyer will both be happier in the end.
4. Your attorney will handle the legal end such as title search, lender options, closing date, etc.
5. On closing day everyone can meet to close the deal in your attorney's office with all of the paper work ready to go, including your check. What you will pay your attorney will be thousands of dollars less than what you will pay a realtor.
6. Give the new buyer the keys and a hand shake, and go your separate ways, with no self-serving realtors to deal with. Hopefully, you have already moved out.
If you are planning to sell your house try this for a couple of months. If you decide that this is not for you, you can always call a realtor and collect a lot less profit at closing.
Where do you list your homes? I want to stay away from Facebook because it's infested with vulture RE agents. I want to have a conversation with a real human being about my home, not someone who 's after a payout.
Thank you #1.!!!!!
We did a similar thing, we sold our own house in a private deal. When a real estate agent told us we'd lose 6% to them, I told my wife, "Heck, we could DROP the price of the house by 6% and be at the same place!" House sold in a week. I'm afraid the agents are going to price themselves out of the market eventually. Times change.
Hans Schweikert,
Good for you, everyone should do it this way!
@@bc5001 Exactly
I like learn how to buy a property.
Another thing is that people have been convinced that it's risky and dangerous to buy from private home sellers and that the real estate agents make sure you are not being sold a bad house with "huge" problems.
@@proudamerican2133 yeah, but isn’t that what the Inspector is for lol not the agent
Show their faces . Why you protect those scammers ?!
They're afraid of lawsuits, defamation, etc. Don't want the Court trouble.
Agree
Pepperkill Development: 👍🏾 *That's* EXACTLY why I gave this a "👎🏾"!
its because they were recorded on private property. had they spoken on a public street, its fair game to show their faces
that is ''democratic modus '' free world country , as Australia
The first guy agent was honest and he had ethics. He said he just wanted the buyer to be happy and have a home...he was all in with the low percent commission. He was honest.👏
Yeah the first one who honest .... greetings from San Diego California
How are you doing??
@@dwainclooney7740 Good and you?
I’d buy under him just for that alone.
@@alisonj1384 Me too
In Australia. the standard is 2% but it is negotiable. We recently sold our home and were charged 1.25% of the sale price as the vendor.
A Real Estate lawyer who says "I can't believe an agent would act this way" is simply not credible. I have yet to meet an honest real estate agent. Their "code of ethics" is 99% about them not stealing each other's listings and 1% related to their treatment of clients.
@@Human551 you need to realize, we have insight into market trend for the past years on sale prices, that is available to everybody now, just not agents, so we technically don't need agent estimates we have apps for that. You tried shut down bongol, but others are popping up
@@Human551 because Im good with numbers, but I dont eat bread LOL sorry
@@Human551 we sold a house ourselves at a higher than market price because prospective listing agents were undervaluing the home hoping for a quick sale or to buy and flip it.
@@Human551 It is easy for a home owner to price their property. Real estate agents send out home value notices every week to home owners, hoping to trap them into selling their home.
I'm a Realtor and I'm shocked by this.. Our team is very honest... Not sure what's going on.. Dishonest people in every Buisness
The amount of work the crew did for this is amazing, Keep it going.
Greetings from San Diego California
I sold my house independently and saved $18,000 in commission fees. Real estate agents are not worth the money. Selling a house is a fairly easy process.
some people like simplicity or simply dont know or dont know what they are doing.
@@Gr33kChief like simplicity enough to spend $18,000 for it? You do you, but that's not a small amount of $
@@Gr33kChief This is exactly why the government needs to change the % to 3% max. When the housing market was low, it was acceptable. But now even houses are going in the millions, 5% is too much.
can you share some tutorial for how did you do that, many people want to learn
@@normanran3589 in my case I live in the Quebec side. Paid $1000 to get Duproprio listing services, they send a photographer to take pics of the house, post the pictures on their website and you get access to notaries where you can call and ask unlimited questions. It's a very easy process trust me!
Love how the second realtor is saying "he" instead of "she" because she's lying just that much. Inventing an entirely different person, not just nonsense about the house being overpriced. So scummy.
Such government inaction and lack of oversight is shocking and deserving of large scale protests across the country.
Indeed, but the problem is about 1/3rd of the nation owns property and don't want to see it devalued even by a minuscule percentage.
This country is so gotdamn expensive. Canadian consumers don’t do anything about it. Internet, food, gas, income tax, everything is so expensive in this country. So hard to get ahead unless you come from generational wealth. It’s depressing
@@AK-pz7om definitely not motivated to move to Canada. No way!
OK, I'll pay the 5% commission to sell my house...
on the amount above what I originally paid for it!
@@1398go I'm in Canada, but seriously thinking of leaving to take my money elsewhere, but covid is putting that on hold.
Through the years of home shopping I wondered why it seemed the realtors silently REFUSED to show me certain houses I requested to see. I have been searching for years to find out why until now. Thanks
What kind of a mortgage did you qualify for? There is no sense showing you a house you can’t afford. It’s heartbreaking for you because your offer won’t be accepted and it wastes the agent time. Working on commission only makes you very mindful of every morning
@@emilyfeagin2673 Don't be insulting, do you really think your grasp of math is better than hers? She knows what she can afford, you nor any other agent should be preventing a meet up between a buyer and a seller because "it wastes the agent time." You are only proving people's point here.
@Emily Feagin no.
And I tried to purchased a home that was listed wat under value. The realtor ignored our contact, and it was sold at the under valued price. I bet the seller got screwed thinking he/she had no offer.
I had agents refusing to take my offer.
That was in San Francisco area even before the boom. Absolutely awful.
The real estate agents that do this should lose their license, be heavily fined, arrested and jailed!!!!!! THEY ARE SCUM!!!!
Um WE NEED to know that first honest agent. It is SO HARD to find good men like that PLEASE we need a name to work with him😩!!
Vancouver, Canada real estate market in a nutshell
14000, better than nothing 👀
There are no severe repercussions. The system is the enemy of the people.
So agents are supposed to work for almost nothing? That's what you're saying? Would you take less at your job? Likely not.
I dealt with this five years ago when I sold a home in Orlando, FL. It took a while, but I was finally able to sell it myself with zero fees to somebody that really loved the home. It felt good. Just hang in there. You're going to get a lot of calls. Screen them and tell the realtors to go away. I would do it again any day.
don't understand why sellers still use agents in a hot market,I bought and sold privately and saved a fortune, though agents try to scare you
What's the best way to do it? I'm looking to sell my condo soon privately. How do you market - I have the lawyer to do up the agreements
Yes many buyers prefer to bring their agent to evaluate the price with comparable homes recently sold. Most homeowners have no clue how to evaluate their property and less than 10% of them actually pay a licensed evaluator cause they are cheap. Most of them have an outdated land survey and wont pass at the notary. Its good that the paperwork is well written by the buyers agent, many times parties accept the contract and there are many errors. Also if they only go with a notary, he or she has never seen the home and cannot suggest what to put in the Sellers declaration and in the contract to protect both parties. We prefer houses on the MLS because our agents can directly have access to the Sellers declaration, history of the property, past expertises, etc. Which saves a lot of time for all parties. I think the private home owners who want to sell on their own, should have their platform and not be on the MLS (agent platform).
@@JSCimmo not in a hot market
@@JSCimmo pay for an appraisal ez clap. A realtor knows dicc all about valuation too unless they've done appraisal courses in depth. $300 vs $14k 🤔🤔
Exactly. Real estate agents are just dirty car salesmen who make more commission. They've been rigging the industry for years to keep their jobs in demand. The amount of money they make for being a middle man during a sale is truly terrifying. And apparently, our generation has far too much spending money to care.
There needs to be more transparency with real estate agents.
@@OG-cz5nt: Exactly, which most people don't use for research until after the fact. Just like used cars
The industry needs to stop self-regulating right now and have someone else step in.
We also need more diversity for more fair treatment overall.
Never owned property until my dad passed away. Didn't hire an agent, and didn't need one. The process was seamless. In fact, it was more of a hassle buying a house with an agent.
Exactly!
Yeah i don't understand why people hire a middleman. Do you're research and you can get the price you want and the buyers can save money not hiring an agent
Are you in Ontario? Where's a good place to start to get information on the process of private listing?
I've sold two of my homes by myself no problem saved a lot on commission. Agents gave me gifts and promises but I did it all myself no problem.
Good for you. It just goes to show that realtors are essentially useless to anyone with a little bit of common sense.
If most agents are ignoring the lower commission homes I'd be selling them like gang busters. And I'd want to expose those unethical agents. They're the ones who need to be blacklisted!
Ya bud, then you would be blacklisted in the industry
exactly my thoughts just go to all the low commission homes and sell them like crazy
@@quintinlarson9499 - Why would that poster be blacklisted for helping clients? Make it make sense.
@@sonyacotton4881 because other agents are not the nicest people.
AMEN TO THAT ‼️🥂
$14,000 seems like a great commission for a relatively small amount of work. Most of these agents are greedy and provide minimal services.
50% goes to the broker, then you pay taxes on the remaining 7k that leaves around 4500. you just worked 60 days or more to make 4500. less than minimum wage.
Everything around me is on the market less than 24 hours and 2 to 30 day closing (not sure 60 days is accurate in all cases and not working for 60 days)
@@kendramales6446 that's irrelevant if you been in the real estate business as long as I have you understand that commission is what we live on to cut a real estate agent commission down to 1% it's absurd
@@kendramales6446 most of these commissions are split with broker and then taxed at a very high rate. And because there are so many real estate agents the competition is hard we'd be lucky to get one deal a month if that.
@@kendramales6446 I can tell by what your saying your a new real estate agent. This real estate market is saturated with real estate agents hungry for a deal I have known certain agents that haven't had one deal in the last 3 months that commission that they make is essential for their survival to have some greedy seller that probably got about more than a 500,0000 dollars in equity built up to nitpick you over one or 2% commission that is greedy
This video only scratches the surface of what is really going on. I`ve been a realtor for 11 years. This system we have is set up to benefit the realtor and not the general public. It is so full of unethical, self absorbed low life people that are only in it for themselves, it`s sickening. Everything should be more transparent and designed to protect the consumer, not just take their money. As far as reco, crea etc goes, they are a typical governing body. It`s a boys club and you (and I) are not in it. I know a lot of realtors and can count on 1 hand how many put ethics first. It`s a pathetic industry full of dishonest crooks with a few good ones sprinkled in.
After more than 40 years I retired earlier than I wanted to but I just couldn't stomach it any longer. RECO was the start of it. I thought the name was ironic at the time LOL
So true!
Reco is useless
Please share the good realtors
@@palomamia841 I`m one but I`m sure everyone would say the same thing lol
This need a follow up video. 3million views shows that Canadians care about this issue
All the bad agents are giving a thumbs down.
They'll flock to forums like this like a Christian apologist does to a irreligious forum.
Money-hungry too!
My thoughts exactly!
@No One It's the real estate agents who have created and pay for this system so why should it then become open source? You wouldn't expect to be able to park your car with a for sale by owner in the local Ford dealership's lot for free and then and expect them to sell it, would you?
Back 10 years ago, I sold my house "For sale by Owner" , sold in three days.
In the US? if so, as seller you can enter the closing office with out being a realtor and the buyer doesn't have to be a realtor if both parties are in agreement on the price. I wonder if that's the same in Canada tho...
We all need to take things into our own hands..we know sadly we can't afford to trust most people
@@Nothuman76 I did hire a lawyer for $1300-. However saved $18,300 in fees. Always hire a lawyer for the contract and closing times.
I SOLD MINE DURING MY GARAGE SALE/ A 3HOUR RECORD!! YUP! AND WENT TO A TITLE OFFICE AND NO STRESS, BUYER WAS A CONVENTIONAL LOAN HAD THEIR HOMEWORK DONE AND WORKED OUT AND WE KNEW EACH OTHER AS WAS PREVIOUSLY SO IT WAS NICE, ALSO BOUGHT A HOUSE IN TOTAL OF 24HRS!!! NO KIDDING, IT WAS THE VERGE OF FORECLOSURE AND THE BANK RUSHED IT AS WE WORKED W SAME BANK AND SMALL TOWN!! YUP!! IRONICALLY,,THOSE SAME PEOPLE CAME BACK AND BOUGHT IT BACK 3 YRS LATER !! IN BETTER SHAPE BOTH THE HOUSE AND THEIR JOBS! LIFE IS INTERESTING!!
I am in the US and sold my own home 3 different times and only went thru a title company. You DO NOT need a realtor at all. Save your money and sell your own home. Title companies will walk you through it.
I hope action is being taken on those that are being unethical
The whole system is unethical it seems. The lawmakers themselves are not willing to talk this through. what would we expect them to change or make difference is anybody's guess.
$500 fine.
@@jimmyzhao2673 On a $40,000 commission? It's nothing...the price of doing business.
Um WE NEED to know that first honest agent. It is SO HARD to find good men like that PLEASE we need a name to work with him😩!!
@@thebtchthathikes1008 Hi It's me. Let me know how I can help
Disgusting, we all should do our own buying and selling and setting up viewing appointments
When you have a product that sells itself, you don't need a middleman to take a 5%.
ABSOLUTELY!!
Yes!
@@rebeltvr6046 Obviously she didn't. What people don't realize is how difficult it is to work through all the steps to sell a house. Multiple inspectors, legal paperwork, loan availability, and negotiating to name a few. Also a "hands off" sale provides a layer of protection if the buyer has remorse or their is a problem with the house that may not have been known about at the time of sale.
@@ripvanrevs purplebricks and other sites makes the paperwork much easier now. And when AI takes over, those sleazy greedy real estate agents who overinflate house prices for their greed will be out of a job. We're not far from that job thankfully being made obsolete.
HAHA OBVIOUSLY THAT 1percent wouldn’t sell itself
This is a smear piece
Sold my home by myself, cost me less than $1000, in 3 weeks. Realtors kept calling me, telling me I won’t have success like they would because I didn’t have the market knowledge. I was a 28 year old machinist. If I can do it so can most home owners. Save a ton of money by doing your own research on the market and how to prepare your house. Sure it takes hours, so what. Calculate saving 30-60,000 by how many hours it takes. Its a zillion times more per hour than what they make at their job. Too many dishonest realtors charging way too much and are largely responsible for jacking up the housing prices in the last few decades to the point where the average Canadian middle class can’t afford them anymore.
I have seen realtors say they had offers to buyers and there was no such thing just to pump the price up and creat a bidding war .
Preach, brother Grunf...
PAY YOURSELF!! It is more than a few hours, but you will make the RIGHT call every time. Better than trusting some beauty school dropout with your life savings.
@@samoday2992 I hope that is the sequel episode to this house purchase fiasco! Ghost flipping and ghost offers!!
@@lucash1980 it’s the old car salesman trick . If you don’t buy it today over the asking price it’ll be gone tomorrow …..
this is my favourite realtor line:
You need to use a realtor to buy so you dont get stuck buying a bad house and so you dont overpay.... also realtors: you need a realtor to sell your house because if you dont use a realtor you will be leaving money on the table.. Meaning you wont get as much money..
LOL so apparently.. realtors who sell your house get you TOP dollar.. and realtors who help you buy a house make sure you get a good deal... Ummm. something is not adding up here
It’s not a service industry.
It’s a “ ME” Industry.
Florida Realtor,
I’m beginning to see more & more reason as to why agents are failing their first 2/3 years of the business. Greedy , selfish, miserable, egotistical , prideful people.
Hello....Greetings from San Diego California
Don't, please don't give up. Don't call yourself all these names. Have some hope. ;)
00080⁰]]]]pp p
It doesn't have to be that way. You don't have to work like that. And not all of us do.
@@lauriestauffer7171 Therefore, I am not speaking to you.
Realtor is just another word for "lier". When I was selling my house a couple of years ago, I had someone make an offer then back out a day before settlement. My agent tried to keep their deposit for herself even though the contract said the money would go directly to me. She was hoping I would "just trust her". After that, she would rarely return calls and ignore emails. My house did sell two months later, but she showed her true colors.
Highly unlikely,. The buyer's deposit should have been in an escrow account that an agent could not keep even if he/she wanted to. If wasn't in escrow and what you say is true, you need to report that agent to your state's Commission, and maybe even the AG.
In the US, specifically in WA, we cannot legally say we have a standard commission. It’s always negotiable specifically to avoid this problem.
well except that denying a flat fee is standard lol
Correct. People fail to realize that we are a business. And there’s more realtors to chooses from. We still have bills, taxes and splits to pay on each transaction. But that’s not talked about in this video.
I also noticed they're not showing proof on the other side. Only selective recording 😌 I don't doubt some aren't terrible though. There's bad workers and bad people in all fields.
Um WE NEED to know that first honest agent. It is SO HARD to find good men like that PLEASE we need a name to work with him😩!!
Yeah, except it happens all over. I've been a agent in several states and just sold a house on my own. And I had several agents directly call me and ask what was I willing to give them. If I didn't offer them 3% they didn't want to show clients my house.
In the US, My buying agent disclosed to the seller my upper limit of financing which was 30-40% over the asking price of the home I was buying. Once she did that, I was unable to negotiate price at all with the sellers because they knew I could afford it. I didn't find this out until I was under contract. Also found out she was telling the seller agent we were wasting their time and would never close because I refused to use the relator's mortgage agent. I was preapproved for 250k more than the houses I was looking at and was putting 25% down, with a VA guarantee. I came to the house to take some measurements and the seller just straight up asked me what was going on. I was shocked at what I was being told. I should have reported that relator.
Yeah it is against the law for realtors to discuss any information as to how high or how low you are willing to go in the negotiation process. Even more so if you signed a single agent contract with them
Why did you put a down payment on a VA loan when that loan does not require a down payment?
@@artisticspirit779 Likely to lower the monthly payments.
It’s not too late! File a complaint
Yeah. There is no incentive for the buying agent to help you get the best prices as it lowers their commission. It's really you against both agents and the seller. I was told to offer over the asking price if I wanted to be considered from day one. My second agent never stressed me out. She never argued when I tried to get a discount and she fought for me. All my recommendations go to her.
Wow, as a Realtor, I’m disgusted by the actions of some of these agents. I have done transactions with a lower commission and at the end of the day my duty is to my client and if you do a great job they will refer people to you and likely use you again. This was hard to watch 😡
You’d be shocked at what happens in Panama 🤣
I don't how long you've been practicing real estate but this a common practice by many agents unfortunately. I was married 20 yrs to a real estate agents and she's one of the few who still practice honesty and integrity. Their Commision is the top of priority list. The rest come a distant second.
Dont need a realtor in the first place. It’s just a middleman like a car salesman.
I have a question for you. Why do realtors steer Single people away from houses they want to buy that has more than two bedrooms and act like they know what's best for the single buyer? I had real estate agents that did that to me in the US. Is that even legal?
Yea…..mmmmright…😏
This is appalling. I wonder how many ppl have missed out on their dream home bc the realtor didn't want to miss out on a few percentage points.
As the owner of the house has the CHOICE to make for what she OWNS the real estate agent has the CHIOCE to make with what he OWNS that is DATA earned by him by putting time and effort and advertisement costs.
Why are you upset for that?
If you think you can do it yourself then do it yourself... !!! 😊
The same thing happens in any other fields.... You can wash your own disher or BUY a dishwaser....
You can wash your own car or have it washed.... that does not mean car washers are bad guys for taking money or not washing your car when you want to pay less than they worth.
Plus... when you do it yourself you gotta wait for the risks of fradulant buyers in the absense of agent double checking them. Good Luck... !
This is why no one trust realtors.
During an open house I saw the agent go into the seller's garden and steal their veggies.
they've become the new 'hated' like lawyers were
@@robynmctaguebenefits9475 They have earned for sure
@@robynmctaguebenefits9475 not were …. Still are
@@robynmctaguebenefits9475 it works in this order, bankers > realtors > lawyers.
I’m a realtor, and 1% on that house being $14,000 is amazing! Lol some agents are just sooo greedy.
Right! They'd rather have NOTHING and I'm glad they got EXACTLY what they were trying to give the homeowner, not one DIME
You are NOT a REALTOR. 🙂
I'm not an agent yet. But i understand services..I sell my house before and I pay 7%...Because they don't make a sell every day..And like us they're also need to pay bill.
@@nbdallashouse1658 Awww, they didn't make $25000 on a daily basis, so sad.
1.4 million dollar house and you're going to do months of work for 14?
Different problem you can run into: I was looking to buy a house, in the US. I told the realtor that the house was over-priced. She blew up. Had been in the business for 30 years and that the price was right. 6 months later it sold for HALF of what she said was the correct price.
Lol.
As a buyer I would always do my own home searching on MLS and elsewhere to find homes I want to see, no way would I rely on an agent to find me all of the houses. Everything is negotiable. Kudos to everyone exposing the system and to busting it wide open. 👏👏👏
Realtor fees are insane. Why is it a percentage of price instead of a flat fee anyway? It takes just as much effort to sell a $400K house as it does a $900K house.
How about a $13 Million one? Think that will sell right away or maybe take a few years? And, yes, I saw a $13 million MLS listing that didn't move while the 2.5 million ones were sold relatively quickly.
So it's the same to sell a BMW for 100k with selling a ford for 30k, right? Any agent would love a flat fee upfront - you sell or not your house, you pay the money when you sign the contract. Would you prefer that?
@@ScubaSteveCanada how is this more work for a real estate agent? is there a huge line of people waiting? there must be some middle ground and not just 5% + HST, so more like 5.6%. for you showing the place say 100 times is worth 730k on a 13 million dollar home? that's normal? how about you go to a grocery store and they say your groceries are extra 5% as this is how we pay our cashiers? would you say: I'm gonna go to a self checkout?
baby gotta eat🤣
@@ScubaSteveCanada the $13m will take longer, but not because more people are looking at it and making it harder for the realtor. It will take longer to sell because the buying market for a $13m home is much smaller.
This happens extremely often. The real estate board only pretends to care. Unless there is more strict enforcement, reporting, and punishments... it will absolutely continue.
I'd imagine the real estate board is made up of former real estate agents, so not surprising.
Why the hell do you need an estate agent anyway? What's to stop myself, a private buyer and yourself, a private seller, conducting the transaction on our own without involving any third parties?
Sure, there's paperwork to file, but that's more than doable with a bit of reading and I'm sure local members of the civil service would gladly assist when called upon to do so.
I was on the flip side 8 years ago when selling a condo. My realtor wanted me to spend tens of thousands of US dollars in upgrades to boost the selling price. These condos were nice but more of a starter home for most and not high-end. I knew I would be losing money by following her advice, so I refused (after a heated discussion) and in the end, had no problems selling. Fast forward 8 years and I am now getting ready to sell my current house at 4+ times the selling price of my condo. That realtor will not be getting my call.
Did you sell the condo using the same agent that told you to spend on upgrades or did you just sell it yourself?
As a realtor we have to advise our clients on how to make most from the sale of their homes. There is nothing wrong with her recommendations. All you do is thank her and say you're selling as is and don't have the time and budget to do it now. Realtor will move on and do whatever else is needed to put it up in the market. Why making a drama out of her recommendation? Unless there were more to the conversation that you haven't shared then I understand.
@@Olaberg13 I understand fixing a few things, but *tens of thousands* of dollars just to turn around and sell it?
@@wowieok6310 If selling was that easy, then everyone would do it. It's a skill that the highly productive agents have obtained from years and sometimes decades of experience and schooling. It's like asking a roofer why they charge $1000s of dollars for putting few shingles and nails, a renovator for just putting up some drywalls and flooring, a PM for just sitting in the office and have meetings and calls, a CEO for just emailing, sitting in office holding meetings and stuff. Every field there are people who make $1000s of dollars. Whatever you job is, why do you get paid $1000s of dollars? If you think selling house is just as easy as you make it sound, why don't you get your license and go start selling. You ppl are just buncha lazy bums who are just jealous of agents who make more than you. Like most fields only 20% of agents make descent living in real estate the rest just make same wage as you.
Was that 2012-2013? Those years were a Buyers Market, at least in my area. It all depends on what the market dictates.
If the house was overpriced, why did she not suggest negotiating with the seller.
I bought my home straight from the seller, no agents.
Good job👍🏻
I will do the same, and sell the same. Way to go!
Probably got ripped off and was not told anything that's ever happened in the house. lol
@@FRob911 Like the realtors who hide negative information? Realtors are nearly as deceitful as CBC.
@@FRob911 you do realize you yourself can hire a home inspector? Even in a private sales. Not that big of a deal.
My husband and I had a realtor that steered. He would only show us houses that he had listed and if I suggested to look at a house that wasn’t his, he would make excuses for us not to buy it. My husband and I stopped all contact with him and bought a house without a realtor.
Never trust any realtor who wants to do a "dual agent" deal. Good call on dropping him.
Please report that agent!
Never trust them ..
@@OG-cz5nt But they really can’t serve the best interests of both the buyer and the seller at the same time. They may be honest and good people, but they can’t do the best for both sides at the same time.
@@TheAmtwhite
Thank You!
I’ve sold homes from $9,000 to 2.5 million and treat all my clients the same. It doesn’t matter about the commission, just want my clients to have a less stressful home buying/selling experience with no regrets.
Nowadays you are to an extent an anomaly in a good way.
It's tough for me to see 6% of the sale go to realtors when all they are doing is showing the house.
The title company is the one that takes care of most of the paperwork.
They aren't innocent either. We got charged 175 for attorney prep, but all the forms were just bad photocopies. The rub was a 45 dollar copying fee.
Not true. The title company does the title work and escrow is responsible for gathering information pertaining to liens along with recording the transfer deed and disbursing the $$. Agents are responsible for not only listings but disclosures, ordering inspections, coordinating with the lender if one is involved (if not, they are responsible for verifying adequate funding to close the transaction), opening escrow, and a litany of other things although most Agents' Brokers assume the majority of these responsibilities since it is ultimately THEIR license which is on the line each and every transaction.
No... That is not aaaall they are doing... they do not earn money UNLESS they have a contract... So they get paid high because they TAKE THAT BIG RISK...
As the owner of the house has the CHOICE to make for what she OWNS the real estate agent has the CHIOCE to make with what he OWNS that is DATA earned by him by putting time and effort and advertisement costs.
Why are you upset for that?
If you think you can do it yourself then do it yourself... !!! 😊
The same thing happens in any other fields.... You can wash your own disher or BUY a dishwaser....
You can wash your own car or have it washed.... that does not mean car washers are bad guys for taking money or not washing your car when you want to pay less than they worth.
Plus... when you do it yourself you gotta wait for the risks of fradulant buyers in the absense of agent double checking them. Good Luck... !
Wrong, the agents are the one putting those contracts together lol. You don’t know the works behind those while it’s under contract not to mention the driving around showing many house many different days months till buyer find the home. Making appointments set up with other agents. Writing legal contracts negotiations lol. Try to be an agent and you will know the work behind the scenes. Yes there are contracts that’s super easy especially it’s cash no contingencies,and buyer that’s not so picky, you get lucky. But most of the time agents work are complicated. The Lender and Closing Atty depends on the agents making the contract close too 😅😅😅
As a Realtor myself, I have written complaints to Real Estate Council only to have them tell me to go to the Superintendent, who in turn directs me back to council. It goes nowhere. I fully agree that something needs to be done. In addition, our fees increase steadily for less service from our boards and associations, and there is no transparency regarding the salaries of directors, superintendents and the like. In BC there is a commission investigating money laundering, but they are leaving out investigating the involved real estate brokerages.
TY! Become a RE attorney instead ;)
In Quebec we have Du Proprio service to avoid this trap. Agents have been trying by all means to have Du Proprio shut down, but each time that was only good for Du Proprio. It's basically a (now established) network of direct owner -buyer, listing price is fixed and on a whole other order of price than agents commissions.
hope you are not in it anymore. its not even worth your time anymore, with my experience.
Same here in Ontario. As a realtor I've wanted to file many complaints, but what's the point? OREA and CREA won't do anything.
Ha ha ha ha ha
Market Place is the true shining star of CBC, a bipartisan defender of the people and I'm very grateful for it.
Real estate agents and property managers are some of the most dishonest people you can deal with. Make sure you do your due diligence before calling them up. Hopefully, we get to the point where we can at least get rid of the real estate agents especially.
Realtors and car salesman are in the same vein. Both untrustworthy.
Not all of them
Honestly, they are pretty unnecessary. We need to remove them as the middle person entirelu
IF ALL PEOPLE, EVERYWHERE, were to ignore them, for as long as COVID was around, they'd all be working at Rotten Ronnies, or walmart, and such-like stores.
@@petersack5074 we do have good real estate agents to sir, and we worked as hard as Walmart employees, They go to the work at the specific time, we go for door knocking and prospecting at the specific time as well
This is why we did away with agents completely. We saw a seller listing their house on their own, and we directly contacted the owners and got the house without any issues. All negotiations were done directly with the owners and we were all happy by the end of it.
Contrast this to the 2 years of having multiple agents who were clearly rigging the system and making sure that the best houses were going to their friends. We once bid 10k over the price because we just wanted to be done with it. The final winning bid was 100 dollars more than ours.
I'll never use an agent again to sell my house, especially in this market.
Realtors and agencies are worse than used car salesman at their junk car lot....
I would say that the folks over at the pay day loan places probably take the cake...
But nah, anyone who is selling cars to people with no credit are kind of the scum of the earth. They leverage them with outrageous interest rates and then repo the car back when the client ultimately cannot pay the price. They clean the car up, and then sell it again. Just the downpayment that the next client pays covers the costs it took them to clean it up, and anything after that is profit.
Once again, the cycle begins.
@@jonnyboyyyy they use the same tactics.
I wouldn't say they're the worse. They're about the same.
Great marketplace investigation. Organized real estate industry facing some tough challenges, this is just the tip of the iceberg. Politicians are willfully blind, regulators are incompetent, most realtors are clueless, and many housing analysts don’t know the difference between the monthly average sale price and the average home price. Canadian homeowners deserve better.
Yes. The consumer deserves better and transparency from this industry.
@@rps1689 the regulator agreed with him and said please fill out a report. They gave the people in next step and they couldn't be bothered to take it how is that any form of wilful blindness?
@@lissyniagara4533 We're discussing the real estate industry as a whole and their lobbyists that influence the "regulatory" bodies.
@@lissyniagara4533 yes thats why every department is sending you to another department so we turn in circles with NO STRAIGHT ANSWER FROM ANY AGENCY OR REGULATORS.
@@vmtl4659 .....not MATURE, RESPONSIBLE PEOPLE, these days. too bad, the system is going to crash, ..unless HONESTY AND INTEGRITY BEGIN to take 'over' ....remove all thieves......and their friends..... purgeing the system, will clean it up....
I am in Australia and can confirm we charge 2-3% on average and buyers agents are not common practice. Why don't you just look for the property yourself?
Because for whatever reason most sellers sell through an agency.
@@zuzanazuscinova5209 i work for an agency and we just post it online and buyers come to us by themselves
Now that was good investigating reporting. DO MORE.
This series "Marketplace" is really good, lots of reporting like this one.
Thank u I ha e learnt a lot being a first time.buyr
I liked their previous investigations better, when they didn't blur faces and they identified the people. I'm guessing they've gotten threatened with legal action by the losers they report on.
@@4seeableTV Probably so. I like how people can still identify which agents they are by their voices and body shape, like the chubby one with the accent.
@@carolesmith4864 Indeed.
as a realtor I hate that this kind of thing happens at all. I hope they all eventually get caught and face consequences. Truly shameful. Doing an excellent job for your client will bring you more business in the future, not sneaking around.
I love you honesty. I think serious consequences need to take place
I completely agree as an agent myself it’s a shame that agents do these sorts of things. It really bothers me, it gives us all a bad name. I really hope these ppl get reported and now that they are on TV the probably will. It’s an agents duty to show all properties that meet their clients needs regardless of commission. I do know that there are certainly more agents that truly want to help their clients and have their clients best interest at heart at least Alll agents in my office as well as most of the agents I have worked with.
Im currently trying to buy a home with my fiance. All our Realtor did was say "Here are all the homes for sale in the area you want, meeting your criteria. Send me a list of any that interest you, and if you find any not on this list, send it to me. Ill make sure you get to see it. And sure enough, 3 weeks and maybe 40 houses later, every single one we've sent him, he has taken us to. Answered all our questions, was never pushy, giving great advice as we are first time home buyers. It has been a good experience. Just put an offer in today on a home, fingers crossed we get it.
Yeah I wish they would have talked about why it can be so worth it to pay that 5%. Agents are professionals and when you work with good ones they are worth every penny! Especially in a hot market!
@@kevincraig6033 for sure! they can get you way over asking price. My thing is at the end of the day after broker split, taxes, yearly realtor fees, my 3% is down to 0.50% haha!
We are really lucky to have a service as duproprio here in Quebec, bought and sold my house and when we sold it cost us less than 2k no agent involved. This service should be available across the country.
You are smart, can we make friends
The Big problem is the buyers ignorance and the laziness of our citizens. A realtor is not needed to buy or sell a house. The contract can be filled by the seller or if you are still lazy a real estate lawyer will fill it for you for $300 in most states. After that the closing company will do all the paperwork and the underwriter if there is a loan will make sure nothing is wrong. Realtors most of the time make things worse and the big majority are not interested on the costumer at all. It’s the money and I don’t blame them.
If you have a lot of money and want to hire a realtor to buy or sell it’s ok. If you are a working person you should avoid realtor’s.
I would love the name of the first realtor, he looks like he actual wants to sell people a home they want.
@@jasonsaxe5661 Good job man. Honesty and integrity will get you far in life. I will suggest you to friends and family any day.
@@jasonsaxe5661 Let's hope this investigation steers all the traffic towards you. It would be sweet justice for all those agents who are fans of steering.
@@jasonsaxe5661 Jason the Saxe-machine!
@@spacewolfjr Thank you!
@@laurenmiddleton5781 Thank You very much. This is how I conduct my business. Open and honest.
I'm a retired professional home inspector. I retired out of military law enforcement and then inspected homes for 23 years before I retired. I was leader of the group in my state that pushed through competency requirements/testing for home inspectors and I served two terms on the states Home Inspector Advisory Licensing Board. I can tell you without reservation that some agents, despite the measures we put into place to prevent it, steer clients to specific home inspectors who they know will go light on the house and who will temper their observations of issues and present them to clients in friendly-to-the-deal language. It used to drive me crazy.
I used a diligent home inspector who was an engineer. I loved her and recommended her to my agent who suggested she might be TOO thorough to make agents happy.
As consumers we really need to be stepping up our game. The modality of some systems in play need to change.
Yes.
Sell your home privately. Get rid of the agents.
Boom! Problem solved! Idk why ppl want to pay a middleman anyways! More money in the sellers pockets
Who is stopping you? You can change your own oil and cut your own hair too.
Because the house near her house sold in less time and over asking price her house took 3 months and sold "near asking" meaning below asking! Let say I list for 1.475 and it sells for 1.575 they take 80 grand but you keep 1.495 but she listed hers for 1.475 and it got near asking so let's say 1.450 I would rather pay the 80 grand and get 1.495
@@lissyniagara4533 if you change your own oil, your car might go atomic while you’re driving it. also if you cut your own hair you’re at higher risk of seizures 🤡 pay me to sell your house or else your house might collapse tmrw
You are making an assumption. It could be the way around. There are plenty of houses sold privately and got more. Like you. I just made as assumption. Lol
"No one" in my country uses a realtor to buy a house, and if you don't want to use a realtor as the seller, you can get the contract fixed at an attorney's office for about 1500USD, no matter if you sell your place for 100k USD or 1.5 mill USD.
Yup, very strange for a buyer to need an agent.
What country?
@@AlexisCarterNotaryMentor yes what country
The buyer's agent DOES NOT WORK ON THE BUYER'S behalf! They work on commission too so it's only their own interest! Not only will there be 'steering', there will be overinflated bids from the buyer under BLIND BIDDING to pad their pockets.
I've worked in a different sales industry in the past, everyone in and tangential to sales transactions knows what's up when it comes to making money. This is why I kind of find that real estate lawyers reactions a little disingenuous, she knows all this stuff too well to be surprised. Get rid of agents, they're useless in the digital age.
You are wrong
Buyers agents work exclusively for the buyers benefit.
Do you know how to buy a house? What is a contingency? What is a home inspection? How is your credit?
@@emilyfeagin2673 If you believe he's wrong despite this video theres something wrong with you or you're a butthurt agent. Agents do not work for the benefit of their seller or buyers they are working to line their pockets first and foremost. Clients come last.
@Rafael Felan She's wrong.
@@emilyfeagin2673 I work in construction, I know how credit works and I can google the rest.
RECO has to be fixed provincial government need to step in to clear this mess this video is clear cut evidence telling about the due diligence they have to do in there work
We offered 560k and the other realtor told ours that we were $20k under and could make a counter offer. We found out a couple months later that the house sold for 562k. Only 2 thousand more than our offer. So basically a straight up lie. This was the first or second house that we ever bid on, on our way to buying our first home. Me and my wife realized fast that it's a crooked game. This was in August 2022.
This is why people should avoid real estate agents. The whole industry is a rippoff.
Not the whole industry. There are good agents out there.
@@truthseekerKJV Thank you, Tim. Yes there are many professional, ethical Realtors.
@Weston Hall How many $400k houses in Ontario cities now? Maybe 20 years ago there were some.
@Weston Hall Are you only selling or buying a single house? My licensing (not real estate) cost me ~$2500 to get, and costs me about $1000 annually to maintain. On top of that, I also have time spent driving to and from client homes, have 'sales' fall through, lose clients that I have 'spent' money on, etc. I didn't expect to make all that back on a single client, why should you?
And 50 hours of work to get $2500 is $50/hr - AFTER fees and taxes. That's a pretty good pay in this country. Sorry, no sympathy here.
@Weston Hall I run my own business. In a commission based industry. I am well aware of the costs associated with it. But my example used your own numbers - if you make $2500 net on 50 hours work, that's $50/hr. The average hourly wage in Canada is $29.61/hr (source: Statista), so even if your sale example took 80 hours or your net was only $1500, you are still making more per hour than the 'average' Canadian. And your advertising (and other) expenses are tax deductible. That average Canadian wage is pre-tax.
Now, I am not saying the whole industry is a rip-off. But the vast majority of real estate agents I know (and I know a lot) THINK they work harder than they do.
As for your note that the average house price in your area is $380k, if you are only selling one every four months, economics would tell you that there is either a scarcity of buyers, or an excess of selling agents for the market. Either way, an unrestricted free market system would result in the 'cost' of a sale to go down (i.e. lower commission).
It's not just realtors, it's the whole industry. It's a money making machine.
In this case, it's just the realtors.
This happened with us with a fully listed MLS home in BC. We couldn’t understand why our home wasn’t selling , so I set up a camera , agents want to sell their own agencies homes , or own listings so they make more commission . I had a realtor say absolutely nothing , or had realtors say derogatory remarks about our home , not coming prepared to know the positives of the home, bringing clients that wanted kid friendly (it was a over 50 plus strata ) or not knowing enough about the property on purpose so they can use as comparison to their listings . They don’t LISTEN to their clients . I reported one agent to her agency. They wanted me to call them and explain. I already explained what I overheard so just said this is what she said and I’m just letting you know. We ended up going outside the area & having an exclusive listing with a realtor we knew for over 30 years . She lived out of town. She sold our home After three years of using local realtors .
Dainty one can you message me. I believe I have several Realtors using my home as bottom of the barrel pricing. Where should I put cameras to catch these low lives...
if your baker put the price up 4 fold would you still pay it go to another baker? and if you went to the next baker and they're price had went up to the exact same price and every baker you tried had suddenly done the same would you pay it, or either go to the one that the rest was saying was dirty with bad bread or bake your own?
of course they have the right to make money but at the rate that is fair and not breaking the law for their own greed!
@Chill Will i don't think he gets it that if you had or would again offer 1500 you would be beat again by a tiny amount.
@@truthorbullsit4368 He doesn’t.
@@truthorbullsit4368 every single time too
Always buy and sell without an agent. Find homes sold by owner by driving around and asking friends and coworkers.
When CBC sticks to objective and fair journalism they do a hell of a job. Perhaps they should do this more often.
You a pandemic denier?
Your right Vincezo👏