sirpangolin should know that a very large group of trustworthy and honest people called 'real estate agents' have always had almost instant access to all this information. The rest of us had to search county records. As a matter of fact, the entire concept of real estate agency is a rather recent invention that gained popularity in the post WW II era. In the past, it was just buyers and sellers negotiating what each thought was a fair price for their property. Now we have an entire industry of sales people who have elbowed their way in between buyers and sellers to no doubt 'help' the process along.
So how can the agency work like a monopoly? If they charge 6%, you can easily beat them by charging 3%. Competition would drive the commission down to minimal.
Folks, I've known this for awhile now. I'm fully aware it's public record. And that's exactly my point -- it shouldn't be. I've had this concern a looooong time now. Just because it's public record doesn't make it right in my opinion.
Yep..... We fought that issue when we sold our house in Laguna Hills. Had a 4% commission and you's have thought the house was mold infested. We went so far as to have a friend call a competing agent to arrange some previews and they never brought up the house. House was the best priced house in the area, still no takers. Ended up selling via another agent that was in-house. I noticed the prices listed are what they may have sold for 1 year ago if you were lucky. Now the prices are about 7-10% below the website estimate. One house I looked at last year (May 2005) was on the market for $510K. It's still on the market today for $490K. Estimate from the website was $525K. This is all in the low desert of SoCal... Palm Springs area. Realtors rank right up there with attorneys, tow truck operators and politicians as the lowest forms of life on the planet.
CoolTrader, your point is well taken. However, real estate agents intentionally steer their clients away from lower commission properties and use other, less ethical methods, to discourage their use. I recently sold a property privately and had to deal with incredibly juvenile behavior from my local real estate 'professionals'. Pulling up and tossing my lawn signs, misinforming their clients as to the status of my property, playing imaginary appointment games, etc. - all in a bid to foil my success. It was all worth it though when I calculate the $$$ saved in commissions and fees!!
To all: I thought I'd post a comment for RE agents even tho I did NOT use them in about 20 of the 30 plus properties I've owned over the last 30 some years. Agents can act as a buffer between buyer and seller. I just closed 2 weeks ago on a hobby farm that took almost 9 months of dealing with the owner. She was selling her deceased parents property and was getting poor advice from a local lawyer. It was one deal I really wished an agent would have handeled... so there are times when agents are useful... agpilot