As a buyer, having to deal with Realtors is a noxious experience and completely pointless (no, they play no important role [besides that of making an insane amount of money by what can only defined as a racket operation and a mafia scheme], they are nothing but unnecessary parasites). As a seller, not being able to reach an audience of buyers due to strict monopolistic control of the listing market – Zillow, Redfin, et al, are fully aligned with the NRA and Realtors – makes it virtually impossible for me to sell my own property by not being able to reach any critical mass in terms of prospective buyers.
On top of that, Realtors purport and promote themselves to buyers (and sellers alike) as experts without whom the buyer would not be able to meander through the “complexity” of a real estate transaction. Moreover, as a buyer, Realtors will you help you for free and will create a bond with you as you both go through such a life endeavor; therefore, justifying the insane amount of money Realtor make. Often, buyers (and sometimes sellers alike) feel grateful for the “help” their realtors provided – they don’t realized that they have been used as tool in the realtor’s extortion tool-kit. In reality, Realtors are swindlers and extortionists who use the buyers as a tool to extort large sums of money from the sellers. All along, Realtors maintain their stronghold, artificial and plain and simply illegal monopolistic control of the real estate market by making close to impossible for sellers to list their own property on the mainstream listing platforms.
The NRA (National Realtor Association) spent literally billions of dollars in lobbying the political establishment, attorney generals, and in influence (and sometimes buying) the court system. It all seems to have pan out really well for them till this point; after all, our most important anti-mononpolistic laws and legislations (“The Sherman Act” and the “Clayton Act”) do not apply to them. As far as the NRA and Zillow (fully aligned with the NRA) are concerned, “The Sherman Act” and “The Clayton Act” could very have been written in toilet paper.
Zillow alone controls about 70% of the listing market. It is well established in our court system that any entity which controls 50% or more of a given market is by definition a monopoly. And Zillow not only controls the listing market, but it exercise full monopolistic behavior, power and control to a blatant level -- not only does Zillow fully promote Realtors on its platform, but it also literally hide any fsbo listing in its platform (in effect the only people who knows and look for fsbo listings are Realtors, who will then call you with nasty and nonsensical lies as arguments).
Another mainstay herein is the evaluation or pricing of houses. By and at large, the market conditions play a very important role in the pricing of houses; but so are the features and characteristics of a house in a given area. How can people who knows close to nothing about what goes into building or reforming a house, then determine the price of a house in a given area or neighborhood. People who does not know what a 100amps or a 200amps load center is, know nothing about the difference between structural bricking and brick veneer; knows nothing about the difference between hardwood floor vs lvp floor vs vinyl sheet, etc; and overall know nothing about the labor, quality, type and grade of material that goes into building a house.
On top of that, it seems that often the ones who do the appraisal are realtors as well, and they almost always agree with the price the realtors set for the property. Ultimately, they all scratch each others back – which is very typical of a mafia and criminal organization.
In essence, buyers would benefit immensely from the removal of these parasites out of the picture in any real estate transaction. Without that extortion scheme in place, there would be room for a seller to negotiate a lower price with the buyer. Secondly, once the buyer makes an offer, he/she is in effect put in a trap concocted by reators; the buyer has to pay the earnest money (which in a way makes sense), but the realtors would inflate the earnest money to make sure that in any eventuality the buyer would have too much to lose in case of a mishap. Also, realtors and lenders work in conjunction; making sure that the buy pays the appraisal upfront, and also pay some of the lending costs upfront, the inspection is also paid upfront. In effect, the buyer is put in a trap whereby he/she has to make large outlays of money towards something that he/she does not even known is going to work out; thus, substantially increasing the chances that the buyer would close on the transaction in order to avert a significant financial loss -- which seems very unfair and a sort of predicament for the buyer. On the other hand, by setting up these preconditions the realtors and their partners would be successful in substantially increasing the chances that the transaction would take place, so that they can cash on it quickly (even though it would not be in the best interest of the buyer). All in all, the buyer has everything to loose; and very little to gain with the use realtors.
Concerning the level of expertise of realtors. Realtors passed in a test that any fifth grader could pass by simply studying for a some hours for a week or so. All the paperwork that they so pompously and persistently say is so complicated – and only they with their expertise can help you through the process -- basically consists of a bunch of standardized forms that are fairly simple to understanding and straightforward fill out. Their knowledge and understanding of real estate laws and regulations is extremely rudimentary, they are virtually incapable of writing a single paragraph in a contract. And the contract itself is a standardized contract, the realtors simply fill out the blanks (names, addresses, etc). It is always good to have the contract reviewed by an actual real estate lawyer though (it would cost a tiny fraction of what one would pay for a useless realtor.
Also, along with the contract, and by all means the most important legal instrument in the transfer of ownership in a real estate transaction is the title which a reminiscent of the state issued-titles by the Roman Empire (English common law concerning properties was deeply influenced by the Roman doctrines of possession). The title transfer operation (title search, etc) is performed by a title company and has nothing to do with a realtor. A realtor simply schedule with a title company the date and time whereas the transfer of ownership is going to take place (the title company does all the work concerning the paperwork, payments, etc).
As an analogy, consider the situation whereby your vehicle’s transmission is misbehaving and you go a mechanic who then states that the transmission has a very complicated problem and thus would need to be rebuilt (or replaced), which would cost you about US$5000,00. All the while, in reality, the transmission only needs its transmission fluid replaced -- which someone relatively mechanically inclined (depending on the type of transmission) could do with some basic reading and would cost he/she about US$100,00 to replace the transmission fluid. Woudn’t you say that that mechanic is dishonest, a swindler and is trying to defraud you?
Realtors are by all means needless, irrelevant, unnecessary, illiterate, ignoble and ignominious parasites. They are an integral part of a large scale mafia and a racket scheme and operation.
NOTE: the above article is an evolution of previous write-ups and a paper I wrote in the past. The intent of posting in this forum is to create awareness.
On top of that, Realtors purport and promote themselves to buyers (and sellers alike) as experts without whom the buyer would not be able to meander through the “complexity” of a real estate transaction. Moreover, as a buyer, Realtors will you help you for free and will create a bond with you as you both go through such a life endeavor; therefore, justifying the insane amount of money Realtor make. Often, buyers (and sometimes sellers alike) feel grateful for the “help” their realtors provided – they don’t realized that they have been used as tool in the realtor’s extortion tool-kit. In reality, Realtors are swindlers and extortionists who use the buyers as a tool to extort large sums of money from the sellers. All along, Realtors maintain their stronghold, artificial and plain and simply illegal monopolistic control of the real estate market by making close to impossible for sellers to list their own property on the mainstream listing platforms.
The NRA (National Realtor Association) spent literally billions of dollars in lobbying the political establishment, attorney generals, and in influence (and sometimes buying) the court system. It all seems to have pan out really well for them till this point; after all, our most important anti-mononpolistic laws and legislations (“The Sherman Act” and the “Clayton Act”) do not apply to them. As far as the NRA and Zillow (fully aligned with the NRA) are concerned, “The Sherman Act” and “The Clayton Act” could very have been written in toilet paper.
Zillow alone controls about 70% of the listing market. It is well established in our court system that any entity which controls 50% or more of a given market is by definition a monopoly. And Zillow not only controls the listing market, but it exercise full monopolistic behavior, power and control to a blatant level -- not only does Zillow fully promote Realtors on its platform, but it also literally hide any fsbo listing in its platform (in effect the only people who knows and look for fsbo listings are Realtors, who will then call you with nasty and nonsensical lies as arguments).
Another mainstay herein is the evaluation or pricing of houses. By and at large, the market conditions play a very important role in the pricing of houses; but so are the features and characteristics of a house in a given area. How can people who knows close to nothing about what goes into building or reforming a house, then determine the price of a house in a given area or neighborhood. People who does not know what a 100amps or a 200amps load center is, know nothing about the difference between structural bricking and brick veneer; knows nothing about the difference between hardwood floor vs lvp floor vs vinyl sheet, etc; and overall know nothing about the labor, quality, type and grade of material that goes into building a house.
On top of that, it seems that often the ones who do the appraisal are realtors as well, and they almost always agree with the price the realtors set for the property. Ultimately, they all scratch each others back – which is very typical of a mafia and criminal organization.
In essence, buyers would benefit immensely from the removal of these parasites out of the picture in any real estate transaction. Without that extortion scheme in place, there would be room for a seller to negotiate a lower price with the buyer. Secondly, once the buyer makes an offer, he/she is in effect put in a trap concocted by reators; the buyer has to pay the earnest money (which in a way makes sense), but the realtors would inflate the earnest money to make sure that in any eventuality the buyer would have too much to lose in case of a mishap. Also, realtors and lenders work in conjunction; making sure that the buy pays the appraisal upfront, and also pay some of the lending costs upfront, the inspection is also paid upfront. In effect, the buyer is put in a trap whereby he/she has to make large outlays of money towards something that he/she does not even known is going to work out; thus, substantially increasing the chances that the buyer would close on the transaction in order to avert a significant financial loss -- which seems very unfair and a sort of predicament for the buyer. On the other hand, by setting up these preconditions the realtors and their partners would be successful in substantially increasing the chances that the transaction would take place, so that they can cash on it quickly (even though it would not be in the best interest of the buyer). All in all, the buyer has everything to loose; and very little to gain with the use realtors.
Concerning the level of expertise of realtors. Realtors passed in a test that any fifth grader could pass by simply studying for a some hours for a week or so. All the paperwork that they so pompously and persistently say is so complicated – and only they with their expertise can help you through the process -- basically consists of a bunch of standardized forms that are fairly simple to understanding and straightforward fill out. Their knowledge and understanding of real estate laws and regulations is extremely rudimentary, they are virtually incapable of writing a single paragraph in a contract. And the contract itself is a standardized contract, the realtors simply fill out the blanks (names, addresses, etc). It is always good to have the contract reviewed by an actual real estate lawyer though (it would cost a tiny fraction of what one would pay for a useless realtor.
Also, along with the contract, and by all means the most important legal instrument in the transfer of ownership in a real estate transaction is the title which a reminiscent of the state issued-titles by the Roman Empire (English common law concerning properties was deeply influenced by the Roman doctrines of possession). The title transfer operation (title search, etc) is performed by a title company and has nothing to do with a realtor. A realtor simply schedule with a title company the date and time whereas the transfer of ownership is going to take place (the title company does all the work concerning the paperwork, payments, etc).
As an analogy, consider the situation whereby your vehicle’s transmission is misbehaving and you go a mechanic who then states that the transmission has a very complicated problem and thus would need to be rebuilt (or replaced), which would cost you about US$5000,00. All the while, in reality, the transmission only needs its transmission fluid replaced -- which someone relatively mechanically inclined (depending on the type of transmission) could do with some basic reading and would cost he/she about US$100,00 to replace the transmission fluid. Woudn’t you say that that mechanic is dishonest, a swindler and is trying to defraud you?
Realtors are by all means needless, irrelevant, unnecessary, illiterate, ignoble and ignominious parasites. They are an integral part of a large scale mafia and a racket scheme and operation.
NOTE: the above article is an evolution of previous write-ups and a paper I wrote in the past. The intent of posting in this forum is to create awareness.
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