Orange County Register

 42 Comments

• BOGEY says:

  March 21, 2009 at 10 am

  Selling your home via RE agent is the OLD WAY of doing business.
  .
  The NEW WAY going forward……http://www.homesbyowner.com/
  It can be very empowering to conduct a RE sales transaction on your own.
  .
  But, if your time is short and you must utilize a dinosaur to transact on your behalf, remember this:
  .
  SELLERS, YOU HAVE THE POWER … “JUST SAY NO” to 5 or 6%. AGENTS ARE DESPERATE, 2% TOPS AND IF THE NON-LIST AGENT COMPLETES THE SALE, IT”S 1% EACH. LOLLLLL!!!!!!!!!!!

  Have a nice weekend
• williamwaber says:

  March 21, 2009 at 10 am

  I think Dubai is gearing up to bring in the Olympics to the Middle East for 2012 from London. Or else why would any country splash so exorbitantly on an opening ceremony. I think Dubai has started to believe that it has the financial muscle to stage the games in a better way compared to recession hit UK.
  info@adsenselover.com

  Thanks
• Dina says:

  March 21, 2009 at 11 am

  Again, I have successfully completed many FSBO transactions. You don’t need an agent, you need an escrow company. (no I don’t work for an escrow company)

  Agents seem only to be turn keys.

  If the public had full free access to the MLS, and bank foreclosure data they would be shocked by the information there.

  I have yet to meet an agent that was worth their commission.

  Now you can all call me names.
• arun says:

  March 21, 2009 at 12 pm

  I cannot agree more with you, Dina.
  Agents are Dina-saurs!

  Indeed, with all the online info, all you really need is the escrow company to manage the transaction. The one I’ve used also provide all the locale-specific forms, disclosures and whatnot.

  One can only hope that Redfin and other such disruptive models relegate the overtanned jock & the bling-laden blonde to stacking megamart shelves. I for one, have grown tired of their blinding bleached grimaces from bus-stop benches and the obligatory junkmail.

  And yes, Realtors (TM), pray do tell why, exactly, we must give away huge chunks of our purchasing power for you to drive us around your leveraged blingbox of an SUV to just to see homes with high co-ops?

  If we are to regulate the financial industry, perhaps we ought to include this bottom feeding species as well…

  .
• REKING says:

  March 21, 2009 at 12 pm

  Ha ha ha!

  Real Estate Professional. What a joke. Basically you need a face to put on your card, pass a fog-a-mirror test, and boom you can mislead people into the worst financial disaster of their lives!

  If the Realtards were true professionals, we would not be in a depression.

  Best advice: DON”T HAVE A REALTARD.
• longcat says:

  March 21, 2009 at 1 pm

  I would never hire an agent. They are overpriced. FSBO
• dafox says:

  March 21, 2009 at 1 pm

  whats on the MLS that isnt on redfin/zillow/etc?
• anonymous says:

  March 21, 2009 at 3 pm

  haha..everyhomeowner will come on here and say fsbo or redfin me, i can do it, whatya I need a agent for.
  hell, why do i need a cpa, i’ll just do my taxes myself lol and cost myself and extra $100k that i could have saved…lol
• shockg says:

  March 21, 2009 at 3 pm

  Can you imagine Rant’s holding his own open house. LOL. Showing the house wearing a wife beater with pizza and beer stains all over, beer gut hanging out. Arguing with every buying agent telling them they are only worth 1%. LOL
• 306 says:

  March 21, 2009 at 3 pm

  Comparing a realtor to a CPA..? Thats funny. My CPA doesnt have his airbrushed face plastered all over his car, cards, bus stop benches, billboards, bathroom stalls, etc. He’s not telling me everyday is a great day to do my taxes. Being a CPA is a legit, respected profession, while being a realtor is more along the lines of a snake oil salesman or a carnival barker. DIna is right, all you need is an escrow firm. Byebye to the 5%’ers.
• 306 says:

  March 21, 2009 at 3 pm

  “sellers agent” is not worth 1%. They are worth 0%. Why would you pay some HS dropout 5k to give you a ride and open the door?
• VoiceofReason says:

  March 21, 2009 at 5 pm

  shockg,

  rants would have to sell at 1998 prices, too, since that’s where he has been preaching we should be for all this time:
  Rants: “You can buy my house, but I think you’re a knifecatcher and an idiot. Don’t you listen!! Who told you to buy my house?!!! I worship some guy in a bad shirt working out of his closet, and he told me armageddon was upon us!!!! Run for shelter!!!!!! Arg!!!!!!!! @$%^^&&&&****(*&^$!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! MOMMY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
• rants says:

  March 21, 2009 at 6 pm

  damn shockg and his merry band of realtards must really
  be feelin the heat from the wives for not being able
  to afford the boob jobs and botox injections anymore llooll
  tell em rants said theyre gonna have a lot more to worry about in
  the near future- you know like being able to pay the lease
  on the car and the mortgage on that underwater house–
  youd think after having been wrong for so long you guys would finally
  wake up and listen to me for once — but nooooooo
  well when the brown stinky stuff hits the fan dont look at me
• Bill says:

  March 21, 2009 at 6 pm

  VoiceofReason,
  .
  You nut case. Switching back to your old names like the true schizophrenic, split personality you are.
  .
  While you blather to yourself in here about nothing, I continue to post relevant information.
  .
  There’s going to be another prime time show regarding this housing mess Sunday 7pm NBC
  http://www.msnbc.msn.com/id/21134540/vp/29805274#29805274
  .
  Chris Hansen drills crooked lenders (VoiceofReason) and dumbo buyers (shockg) on how incredibly stupid they both were for causing this mess.
  .
  When he asked why these low life buyers took on a mortgage they knew they couldn’t afford they just give their classic dear in the headlights “I dunno”
  .
  I wouldn’t be surprised if debtracker, shockg and the other predatory scum that reside in this blog have cameo appearances on this show.
• Bill says:

  March 21, 2009 at 6 pm

  There are 3 separate clips from the link above and the show is centered in Santa Ana.
• Tom M says:

  March 21, 2009 at 8 pm

  Judging by what I saw when i was looking at rentals, your better off doing it yourself. Why pay one of these retards 6%, For what?
• TOP SALESMAN says:

  March 21, 2009 at 8 pm

  HA HA HA another ‘FSBO’ trying to save a commission.

  BOGEY..new to this blog…It is a buyers market…remember?
  The only control the sellers have, is to keep their homes….right?

  Qualified buyers in this market are gold! Why would a buyer look at a
  ‘FSBO’ and hear the lies of a seller about the great ‘upgrades’ they paid Home Depot to install, when they can look at every property and get all the prices and see the homes!
  When I drive by a ‘FSBO’ with my buyers and they see the cheap cardboard signs, or a painted over ‘OPEN HOUSE’ sign they stole from an agent, I just tell the buyers….Oh that house, it has a cracked slab, but he won’t tell you…or ….I think there was a murder in that house….or…. that was a ‘crack house’ his kids are in jail, and sometimes people still come there for drugs. You can get a good deal, if you don’t mind a few door knocks at 2:00 AM.

  Remember…a broker only ‘facilitates’ greed! Either a ‘greedy’ buyer who wants to steal a property, or a ‘greedy’ seller who wants top dollar.
  That is why so many listings are too high…GREEDY SELLERS.
  Houses that don’t sell to low ball offers..GREEDY BUYERS.
  Sales are greed in the middle.
• Tom M says:

  March 21, 2009 at 10 pm

  TOP SALESMAN-If your a dope he’s your man.
• jack says:

  March 22, 2009 at 7 am

  Back in the 90’s, a travel agent told me I’d never get a good deal on airfair and hotels without her valuable services. When I saw her bagging my groceries the other day, she didnt say a word.

  Comparing realtors to professionals is a joke. Residential realtors for the mostpart are uneducated snakeoil salesmen.
• Dealtracker says:

  March 22, 2009 at 8 am

  It’s been a decade since people could reasonably do this and they don’t. At least most people (not those here) are smart enough to know what they don’t know. These comments are hysterical. They clearly demonstrate that you people have zero clue about things as simple as how commissions are applied, who represents whom and what the actual duties of both sides are. And for the umpteenth time: Redfin charges a minimum of $5,000. Bejesus.
• Dealtracker says:

  March 22, 2009 at 8 am

  “Sales are greed in the middle.’

  Great, great comment.
• Dealtracker says:

  March 22, 2009 at 8 am

  “SELLERS, YOU HAVE THE POWER … “JUST SAY NO” to 5 or 6%. AGENTS ARE DESPERATE, 2% TOPS AND IF THE NON-LIST AGENT COMPLETES THE SALE, IT”S 1% EACH. LOLLLLL!!!!!!!!!!!”

  This is a perfect example of complete cluelessness. He will not even be able to understand in what very basic way this is flawed.
• Dealtracker says:

  March 22, 2009 at 8 am

  Although I must say, I do really appreciate it when people out their stupidity is such spectacular fashion.
• cripsy&cole says:

  March 22, 2009 at 9 am

  Realtors as professionals…LOL!!!! BAHAHAHAHAHAHAHAHAH

  Comparing realtors to CPA’s…too funny..

  Lets see, I could become a realtor in about 2 weeks, where as a CPA needs a degree, pass a rigourous exam and work under another CPA for 2-3 years….yeah they are the same.

  Realtors are no higher than fast food workers or quickie mart employeees
• Eat it in the OC says:

  March 22, 2009 at 9 am

  “Willingness to discuss compensation based upon the amount of work and expertise required as it relates to the amount of involvement you want to have in the process.”

  DealT-Do you agree with this?
• Dealtracker says:

  March 22, 2009 at 10 am

  Yes, eat it, I do agree with that. That is not all that unusual. Neither is this:

  Anyone want to see a typical homesbyowner.com situation?
  Seller listed her 4/3 in Laguna Niguel at:
  30791 Concord Lane
  Laguna Niguel, CA 92677
  The “for sale by owner” price: $1,425,000 ($561 a square foot). The listing was entered on 9/3/2008 and cancelled on 9/22/2008 (19 days on the market), yet it still shows as active on the FSBO websites. Seller changed her mind and listed with a prominent full service broker, Surterre Properties. The original list price with Surterre on 9/22/2008 was $1,299,000 and was dropped to 1,199,000 on 3/21/2009. This seller not only mis-priced her property, but she was not intending to pass along her “savings” to interested buyers. She was always offering 3% to the selling agent (buyer’s agent) side, so her potential savings after the flat fees was in the neighborhood of 2%-2.5%. She won’t be saving that now, and may have missed the opportunity to really unload the thing in the fall. Does anyone think that the extra six months on the market will cost her more than 2%? I do. This situation is not unique, it is the norm. The facts speak for themselves. This is a failed model.
• Dealtracker says:

  March 22, 2009 at 10 am

  Then there’s this one:
  1444 Valencia Ave
  Tustin, CA
  This is a 3/2 townhome currently listed as a FSBO for $650,000. It was also listed in MLS as a short sale on 9/24/2008 for $540,000. It’s priced was reduced on 2/29/2008 to $489,000, where it sits today. So again, whatever savings the seller was trying to create was not intended to be passed along to any potential buyers. Anyone who thinks that sellers will take on all of the time and effort, risk and expense of doing this work, and will pass the savings along to buyers out of the goodness of their hearts, is what I would kindly describe as naïve.
• Enlightenment says:

  March 22, 2009 at 10 am

  All Hail Xenu!
• Dealtracker says:

  March 22, 2009 at 10 am

  How about this:
  10 Las Flores
  Aliso Viejo
  This 3/3 1400 square foot townhome is listed as a “for sale by owner” at $485,000 (no selling agent commission offered). It is simultaneously listed with a full service realtor under an “Exclusive Right To Sell” listing. That means that the listing agent will have earned the full commission whether the seller finds a buyer on his own or not. This listing was entered on 6/19/2008 for $485,000 and is still active today at $440,000. The price of $485,000 was never a “for sale by owner” price at all. It was the full list price that was offered in MLS. What that means to the uninformed buyer is that they could have potentially bought this place with no representation at the same price that buyers with representation would have received. The difference here is that the listing agent would have earned the commission that a legitimate buyer’s agent could have earned by actually representing you (which you pay for but do not receive). Considering that the three listings do not even have current information, I would say the site is not only dangerous, but useless.
• trs says:

  March 22, 2009 at 11 am

  did you learn your lesson? only make beach investments or lose. hard lesson. everyone always knew this. how could you be so dumb to rent? or how could you be so dumb to buy miles from the waterfront? bet you did not go to college or you went to state college.
• Tom M says:

  March 22, 2009 at 12 pm

  Red fin is pretty reasonable on their fees for sales. It is a good buy on both the sale and buy sides. I would not have known what the deal was unless the imaginary dealtracker brought it to my attention. Thanks dealtracker.
• TOP SALESMAN says:

  March 22, 2009 at 1 pm

  Letter to Mr&Mrs FSBO

  Dear Mr and Mrs FSBO,

  Thank you again for allowing me to give you another market valuation of your home. Although, the market has changed since I provided you this information in 2005, I can see your home has not. Allow me to address a few issues that may need attention to help you sell your home.

  1. Although your green shag carpet gives you the impression that you are bringing’ the outdoors inside’ it would be best if your dogs would use the outside as their bathroom. I know the Broadway carpet salesman told you the carpet would outlast the plastic ’shag rake’ it appears the test is still in contention. I am sure your dogs Mr. Poncho and Miss Gigi will understand.

  2. Your choice of ‘avocado green’ and ‘harvest gold’ paint colors in the
  kitchen, complement the wall paper, the term ‘lifetime’ on the Sears paint can doesn’t mean ‘lifetime’ in style.

  3. I know your patio cover, fountain, and other improvements were built by your brother to be ‘over code’ but I don’t think that the buyer will accept your statement that ‘the city lost all the permits’.

  4. I know you have the original rock roof on your home, even though all your neighbors re-roofed in the last 20 years. They may have ‘wasted’ their money. But, will the buyers accept your explaination that all those pans in your attic are just leftover from an Easter Egg Hunt?

  5. I am not sure if the buyers will appreciate all the upgrades in decorating you have. The shoebox full of receipts from Angels, Builders Emporium, and National Lumber are impressive, but may not add the value that you expect. In addition, I don’t think you can adjust those receipts upward for inflation.

  6. The location of your home, backing up to the 405 Freeway has some impact. Your proclaimation that ‘you don’t have any rear neighbors’ and ‘the melody of the motorway is like the ocean waves’ doesn’t make your property more valuable.

  7. I can see that your 31 year old daughter still is at home. Her plastic horse collection, all 967 are impressive, but they take away from the size of the bedroom.

  8. All the family pictures that cover your walls, may be a distraction to buyers. I know you were trying to get the ‘family feel’ like Bepo, it may be a little overdone.

  9. Thank you again for the generous commission offer. I am sure that offering me your late mother-in-laws 1984 Caddy with four flat tires and a minor electrical problem (just needs a fuse) is hard to do. I am sure those stains on the drivers seat will clean up, and it sure to become a classic. But I wouldn’t be interested (even though you are sure it would be a great real estate car).

  Also, I know you were offered $800,000 (oral on the phone) for your
  home in 2005, I am sorry, that it is not an enforceable contract.
  No, I don’t have a Criss-Cross to find out who that person was.

  May I suggest that you seek the help of all the FSBO experts who post their knowledge on the OC Register real estate blog.

  Thank you again,
• mortgagemaker says:

  March 22, 2009 at 6 pm

  first of all, a buyer doesnt pay an agent???? So why woulnd a buyer want an agent? because you can take the commision off the price of the house???? LOL, a good agent would get you 5 times there commision off the price of the house in this current market and on top of that, get you a 3 times better house. there are many local realtors that have a much better understanding of the home availabe and what the sellilng options are for that home. The realtor is more important than they have ever been right now.
• Tom M says:

  March 22, 2009 at 7 pm

  mortgagemaker, does the same hold true for car salesman and life insurance brokers?
• mortgagemaker says:

  March 22, 2009 at 7 pm

  of course - you think you know more about cars and life insurance than someone that has actually made a career out of these professions?
• rants says:

  March 22, 2009 at 9 pm

  dont those selfish FSBO’S understand that the
  commision that the realtors make from selling
  their houses helps support the local economy?
  last year alone the realtors single handidly supported
  the entire orange county cosmetic surgery industry
  with a record number of botox injections–
  dont just think about yourself– remember theres
  others out here who are depending on you—-
• shockg says:

  March 22, 2009 at 9 pm

  Rants is in dire need of a tummy tuck.
• Netteligent says:

  March 23, 2009 at 4 am

  Never pay anything to useless RE Agents or Realtors. 6 percent commission is a scam and has to change in a profound way.
• mortgagemaker says:

  March 23, 2009 at 11 am

  the problem with Americans is that its all about asummption. Assume a RE Agent is worthless, assume a fireman or police officer is honest, assume a doctor is smart, assume a lawyer is a crook, assume if someone went to Yale they are smart enough to run the US. Assume assume assume based on nothing….. our system is broke because of assumptions…….
• JT says:

  March 25, 2009 at 4 am

  Great article, the comments are telling though.Yikes. As a member of the REALTOR industry, I wish I could join the conversation in a believable way. Most of the REALTORs I know, work very hard at getting their clients the best deals, and give excellent service, they ,really go the extra 5 miles. (and that is most, there are exceptions to the rule for sure, I’ve seen slakers too) My question is, are the majority of these California commenter’s, Redfin geeks, FSBO geeks, anti-REALTOR.com geeks- or is this really the buying public sharing with us, our lack of service, skills, and professionalism as REALTORs? And if it is the latter, tell me, what would you do, if you were us, to fix the problems as you see them.
• Mike says:

  March 25, 2009 at 5 am

  Has anyone ever noticed the correlation between FSBO’s and Unfinished projects in the home? It’s like the homeowner got a brilliant idea one day while he was walking through home depot and saw that laminate hardwood on sale for $.80/sf. Then he went nuts installing it everywhere. Problem is, he forgot the trim to cover the gaps between the floor and wall, did not have the correct tool to cut the doorjambs so they looked good (no you do not fill 3/8″ gaps with caulk) and the entire home now looks like crap. Maybe FSBO is just part of the DIY mentality.
• McLean VA Luxury Homes for Sale says:

  May 3, 2009 at 7 am

  Great post Stefan. This is not the market for on the job training. An experienced agent is your best bet.