American style realtor

alumende27

http://www.channel4.com/programmes/take-part/articles/all/location-location-location/3428

:-)

fairy_lights

What is the difference than an American style realtor and an estate agent? I can't really tell what a realtor does that's different from our system.

Tyler119

sparky130a wrote: »

Do you not think this was built into their costs?

They're not a charity and unlikely to be doing a Brit abroad a favour.

No it was not built into the price. She was under no obligation to help us with this at all. She even arranged for someone to sit at the house for two days while a company packed up the entire house.

The lady even keeps in touch via Facebook periodically. To be honest our experience in that part of the world taught us that they go to an extraordinary effort to network and keep relationships on the go, simply just on the off chance that they may be able to get business out of it in the future.

Us being "Brits abroad" had no bearing on how we were treated. We certainly did pay a higher percentage that say when we sold a property here in the UK. I can be honest and say the extra money was worth it as the level of service and how contactable the lady was in comparison to our UK estate agent was not even close.

Tyler119

fairy_lights wrote: »

What is the difference than an American style realtor and an estate agent? I can't really tell what a realtor does that's different from our system.

Good explanation on this page

http://www.rightmove.co.uk/overseas-magazine/american-realtor-versus-uk-estate-agent

googler

Tyler119 wrote: »

No it was not built into the price. She was under no obligation to help us with this at all. She even arranged for someone to sit at the house for two days while a company packed up the entire house.

At the rates the American realtors charge, they have the flexibility to do this.

With their higher rates, they can make a living on fewer transactions, and hence have the time to do this.

googler

googler wrote: »

At the rates the American realtors charge, they have the flexibility to do this.

With their higher rates, they can make a living on fewer transactions, and hence have the time to do this.

To put that in perspective, a selling agent getting paid American rates would, on the sale of a £250,000 property, present a bill to the owner of £15,000 (6% of the sale price).

If on the American model, that commission 'belongs' to the (self-employed) agent, although he/she typically pays a slice of it to any agency office he may belong to, and to any buyer's agent who may be involved.

sparky130a

Tyler119 wrote: »

No it was not built into the price. She was under no obligation to help us with this at all. She even arranged for someone to sit at the house for two days while a company packed up the entire house.

The lady even keeps in touch via Facebook periodically. To be honest our experience in that part of the world taught us that they go to an extraordinary effort to network and keep relationships on the go, simply just on the off chance that they may be able to get business out of it in the future.

Us being "Brits abroad" had no bearing on how we were treated. We certainly did pay a higher percentage that say when we sold a property here in the UK. I can be honest and say the extra money was worth it as the level of service and how contactable the lady was in comparison to our UK estate agent was not even close.

Yes it was.

Tyler119

sparky130a wrote: »

Yes it was.

Wow I never knew you were part of that transaction as you seem to have deep insight. It was not part of the price, which ended up being half of what it normally would be.

I guess it was part of the price for her to go round and put the storm shutters down during the storm season, and her job to empty the freezer out after a power cut.

sparky130a

Tyler119 wrote: »

Wow I never knew you were part of that transaction as you seem to have deep insight. It was not part of the price, which ended up being half of what it normally would be.

I guess it was part of the price for her to go round and put the storm shutters down during the storm season, and her job to empty the freezer out after a power cut.

So we have:

A SIL who's prepared to pay 40K above asking price for a property based on my nan randomly walking into her property with champagne ( No confirmation you'll be offered a glass )

An extremely generous US Realtor

I don't think so.

Tyler119

sparky130a wrote: »

So we have:

A SIL who's prepared to pay 40K above asking price for a property based on my nan randomly walking into her property with champagne ( No confirmation you'll be offered a glass )

An extremely generous US Realtor

I don't think so.

Well to start with the SIL had no idea she was over paying, hence the content my original post.

And yes a US realtor who was generous. Not sure why that would be of great surprise. I would be genuinely interested to hear of your experiences with them in Florida.