ED Magedson – Founder
COLDWELL BANKER, United Realtors810 N. Main St Summerville, South Carolina USA
COLDWELL BANKER, United Realtors Losing My Mind vs The Sign of The Times Summerville South Carolina
I have to ask my self if I am losing my mind, or is it simply just another indication of the "sign of the times."
I contacted this realtor to see about listing raw property we've been trying sell for the past couple of years. I recognize (as was told by other realtors) that the economy is extremely sluggish when it comes to selling real estate these days. However, I was interested in just selling the land for what it would go for the fair market value as reported on record. The realtor agent suggested we sell 2.5 acres for 19,900. Stating that the commision for the listing for the agency would be ten percent off the top. Now when I calculate ten percent, the outcome gives me $1,099.00. Exactly what one would expect. Well to my shocking surprise, I thought I heard the woman say $5,000.00 for her and another $5,000.00 for the agency??! Could I have heard wrong? Well, when she e-mailed me the contract agreement, it was stated on the dotted line that their 10 percent commission would be $10,000!!
Leaving a net profit sale to us, the sellers of only $9,000.00!!! Explain to me how do you break even with that? Do they think we are that foolishly desperate, or could someone please tell me that I'm living in the middle of a horrific nightmare. It can't be so. It just can't. Who in their right mind would trust listing their valuable property with these scammers. But then as my memory serve me, it was just over a year ago, we had listed some other property with the same realtor agency, but in Myrtle Beach. We signed the contract, but I recalled walking away from the deal feeling cheated and helpless. The value of the property on the books stated 36,000. The realtor stated that just for the lot, we could expect to walk away with just $10,000!! In both senarios, we were dealing with the Top Dealers of the agencies, acclaimed for doing the most business.
I certainly hope that this isn't the case with most realtors, because what would be the point of seeking the assistance from a reputable real estate agency if in the end, you are destined to walk away feeling duped and undersold.
This report was posted on Ripoff Report on 09/10/2013 06:19 AM and is a permanent record located here: http://www.ripoffreport.com/reports/coldwell-banker-united-realtors/summerville-south-carolina-29483/coldwell-banker-united-realtors-losing-my-mind-vs-the-sign-of-the-times-summerville-sout-1083175. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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