PROOF EVERYONE IS GOING BROKE! kzread.info/dash/bejne/o51_scufcZSneKg.html

@kilnmaster

Ай бұрын

"everyone" is a stretch, just like all your "hyperganda"!

@joesmith6357

Ай бұрын

Equity!

@pozzerbob

Ай бұрын

Multifamily Commission refunds???

@domcrisco

Ай бұрын

What does all this mean for future sellers in terms of compensation to listing agents? Also, will sellers be allowed to comp. Buyers agents? Will this affect listing prices since in the past the agent comp was usually baked into list price? Thanks and keep up the great work!

@JungleBook805

Ай бұрын

Thanks man. Just filed my claim. Sold in August 2023

The lawyers will get the money, the home sellers will get a coupon for half off your next Starbucks drink.

@MichaelGiordano777

Ай бұрын

If it's a coupon for coffee I insist on Dunkin Donuts. I never cared for Starbucks coffee for some reason. Especially their iced coffee. Terrible.

@Ron4885

Ай бұрын

😂😂

@richardvanderpool7540

Ай бұрын

I thought it was a circle K drink.

@JoeSmith-nu8oo

Ай бұрын

Not even Starbucks, Burger King😝

@jeltoninc.8542

Ай бұрын

Knowing Starbucks you will have to use it that same day hahaha

There is no way in hell enough money is available to compensate 40 to 50 million people.

@networth00

Ай бұрын

A dollar each and they lawyers get half the total.

@bibibachmd9995

Ай бұрын

Not worth filling out the claim form.

@JFEnterprize

Ай бұрын

Sure! Like the gov spending money….. it’s borrowed today from the future! 😎

@alphaforce6998

Ай бұрын

@@JFEnterprize You didn't read the Federal Reserve Act, did you? Because at any time you felt inclined to do so, you could write and print your own negotiable instrument and tender it as payment for a debt. How is it 2024 and people STILL don't know what went down in 1933.

@TheThelonelygnome

Ай бұрын

Coupons $5 off your next closing!!

Lawyers get $25million and victims get $5 each.

@ryand4940

Ай бұрын

Victims?? Lol

@yorsan2240

Ай бұрын

​@@ryand4940there's a reason NAR lost the case , somebody was a victim

@Sentientheat

Ай бұрын

Suits get rich.

@carefulconsumer8682

Ай бұрын

So true. Not worth my time filing any paperwork.

@coleycole5344

Ай бұрын

How much is a McDonald's meal?

Most people who file a claim in a class action suit receive crumbs after the lion share goes to the attorneys.

@andrewkaska471

Ай бұрын

Why do you think people bust their buts to get into law school.

@MichaelBordenaro

Ай бұрын

Yep, which is ridiculous

@EMA-uk5ob

Ай бұрын

i think the attorneys settle on amounts which satisfies them and the defendents. the plaintiffs always get screwed.

@Peace-nz3jx

Ай бұрын

That is why attorneys loves class action lawsuit they get most of them .

@Nick3618W

Ай бұрын

You’d think the attorneys’ fees would be a separate pool of money in the settlement from the actual won payouts…

Sue the lawyers, they are more crocked than the realtors

@r.dennison5042

Ай бұрын

Finally someone notices this. He’s walking away single-handedly with millions. But yeah, they care about the little guy 👍🏻 Like Shakespeare said, “first thing we do is _____ all the lawyers”

@sleightofmind2016

Ай бұрын

I tried to sue an attorney and couldn't find any that would take my case. And, they all said, if I tried to represent myself the judge will side with the attorney to protect their industry.

@LynxStarAuto

Ай бұрын

@@sleightofmind2016lawyers sue lawyers all the time. Here in Florida malpractice lawsuits are BIG money. Lawyers are insured, so it's mostly insurance companies paying out.

@lrod312

Ай бұрын

Money from one lawyer’s pocket right into another lawyer’s pocket.

@sleightofmind2016

Ай бұрын

@@LynxStarAuto That gives me hope!

I was playing golf with a couple of friends who also brought another friend to make 4. We were having a fun day when on the 12th tee the friend got a cell phone call and seemed like he turned white and couldn't talk. He just nearly collapsed. After a few minutes he said his office just called and told him they had just got a 12 million dollar settlement. He was the attorney and said he would get 30% of the 12 million. There will be many many happy Lawyers handling these settlements. There will be little left for the final recipients.

@lindajohnson.

Ай бұрын

Lawyers get the most $$$.😢

@BREEZYM6015

Ай бұрын

Was it a public or private golf course?

@survivor9898

Ай бұрын

I Believe You!!!

@Stoneface_

Ай бұрын

Vultures

I just checked the website, I have 4 properties that fall within the specifications of the law suit. I should net a cool 25 bucks after the sharks take the lions share.

@tlindsay1007

Ай бұрын

Don't spend it all in one place! 🙂

@jmor-_-.656

Ай бұрын

Be sure to put it in a high yield savings account.😂

Paying my realtor 6% was painful considering the amount of work they did and value they provided. The condo sold itself in 24 hours.

@networth00

Ай бұрын

That's how we all feel... ripped off.

@bibibachmd9995

Ай бұрын

Same here.

@MichaelGiordano777

Ай бұрын

Did you get full asking? I would be happy if I got that with my current Florida house thats listed on the MLS now. And it's listed at a fair price. I'm getting lots of broke tire-kickers. They all "Love it" but can't make an offer.

@glennbeadshaw727

Ай бұрын

I sold my own house myself it was simple and then the transaction was finalized by the lawyer that you need anyway

@JFEnterprize

Ай бұрын

If you knew it was sure shot in the bag why’d you even use one. Everyone should attempt to go by themselves at least once. 😢 go get your money back.

I think the Bar Association should have a class action suit brought against it

It's like the class action lawsuit against John Deere years ago. My portion was a check for $.95 cents.

@EMA-uk5ob

Ай бұрын

exactly

@jayc4715

Ай бұрын

Treat yourself to a nice can of soda pop

I've been through the home buying/selling process 3 times. I also went through real estate school. I have used realtors every time. In one of my transactions my realtor didn't do squat!!! I was disgusted. But I have to say my last transaction had to go through probate. The seller passed away 48 hours before closing, it was a nightmare because we had sold our home and movers had our truck ready to go. Our realtor went above and beyond helping is out through the process. She deserved every penny she got! Even with the knowledge I already have I still think a good realtor is a must!

You get 1.50 and a sticker🤣

@pat4005

Ай бұрын

But you will have to pay postage to get the sticker mailed to you. And that means you will have to pay it to a company owned by one of the attorneys. 😂 j/k

@justinshaffer3419

Ай бұрын

God I hope it's a gold sticker!!

the only place the money is going to go to are the lawyers and the government. it is essentially a fine, and fines are paid to the government.

Lawyers will get 100 million of it. We get 7$. Justice!

I purchased 6 homes over the last 50 years and hired an attorney to look over the contract and other documents. In 2 instances he caught errors that would have been to my detriment and expense. I'm not connected in any way to the law profession, I'm just glad I paid them to look out after my interest. It was well worth their fee.

@EMA-uk5ob

Ай бұрын

but did you use a RE agent? were they incompetent?

Love your channel. Forced to sell my home on 3/22/18 due to medical problems and lost my job for same reasons. Just filed my claim today thanks in part for the information you provided. Paid 15k in commissions. I will update you on what I receive. Appreciate it.

@marciamakoviecki3295

Ай бұрын

Did you know you could have negotiated the commission?

@jimshoe402

Ай бұрын

Good Luck

@infotechsailor

Ай бұрын

Ya his realtor got thousands for no work at all. Stick it to these crooked realtors

@SerenityES

Ай бұрын

Same exact circumstances for me as well. Sold for medical and my.lufe has been a spiral ever since.

@billybrown2305

Ай бұрын

@@floridad4717 Sold for 185k 2 years before the housing market exploded. Its valued at 300k now. Bought it at 135k new. I did hire a agent. 8% to get a quick sell due to trying to hold onto the house I was 6 months behind in payments.

Dont lawyers always suck up the money?

@geee1984

Ай бұрын

Lawyers are aquatic, DNA of a sponge

@twest3686

Ай бұрын

The lawyers are one of the biggest wet vacs in the world.

@MichaelBordenaro

Ай бұрын

Pretty much

@ThePerfectSeason1972

Ай бұрын

Vultures, but allegedly advocates of the law.

Lawyers and politicians is what is wrong with the country.

What A distraction- the real reasons housing is the way it is in not a realtors 6%. 1. Institutional investors overbidding 2. Interest rates MASSIVELY affect affordability 3. Value of the dollar

So interested to see how this all works out. I would gladly pay my own agent if I were ever to purchase another house (but I'm old so hopefully, I won't have the need). Our agent when we moved from Michigan to Florida was CRUCIAL in ironing out lots of problems we encountered along the way. If it wasn't for her skill, I'm pretty sure we would have given up during the purchase process. She was very knowledge and very persistent--doing whatever was necessary to smooth the way for us. And the stack of paperwork that she had to fill out for us was unbelievable. Plus she had to arrange a remote closing in the midst of Covid. Because of her, for the last 4 years we have been happily living in our 4 bedroom, 2 bath home with attached garage and pool in a beautiful neighborhood. A good agent is worth his/her price in gold!

@jimba6486

Ай бұрын

The way this economy is going. We may have to pay each other again in Gold

@glennbeadshaw727

Ай бұрын

When I need to buy a house I approached the selling agent myself that way I don't need to hire somebody else to introduce myself

@pegasus8873

Ай бұрын

I wouldn’t advertise empty rooms. The fed may want to hook you up with illegals.

@JFEnterprize

Ай бұрын

Well gold is priced in usd in the USA anyhow 🙁😂🎉 I guess like gold there was a 6% premium 🥳

@marciamakoviecki3295

Ай бұрын

Organizing a remote closing takes 5 minutes. Most of them aren't in person now that everyone has digital signing. I bought my house remotely 10 years ago..

I sold my house & bought a Townhome 3 1/2 years ago. The house sold within 24 hours. My realtor is a friend of my Daughter-in-law & reduced the commission to 3% so I was happy.

Lawyers will get 95% of the money, Home owners will get NOTHING

@hardeez1

Ай бұрын

Well they did the work. But at least the precedent is set.

You will own nothing and be happy!

@rickeetaylor1721

Ай бұрын

You see the play. Good luck

@marciamakoviecki3295

Ай бұрын

Fight back

@thejuicerr

Ай бұрын

Is that why the africans are so happy?

@veronicalee5937

Ай бұрын

AND the Government will own EVERYTHING!

@jerrydwyer9057

Ай бұрын

And real estate agents are not needed at all for that. One of many jobs that will become obsolete.

Houses are listed for sale with the commission to the buyers agent already baked into the sale price. It’s the buyer who pays everything. They buy the house with a mortgage or cash.🤦‍♀️

@mtngrl5859

Ай бұрын

Exactly. I've explained this to Sellers when they believe its a "Sellers Market". I've told them it's only a Sellers Market as long as Buyers are willing to buy their home. Before this agreement, all sold homes in the MLS featured a commission to the Buyer's agent. If Seller refuses to pay, many Buyers will walk or bring in lower offers.

@mtngrl5859

Ай бұрын

Yes, and a good Seller's agent will discuss this with them when they list their home. It's a cost to do business, all appraisals use past sales that had the commission for the Buyer's agent. Buyer's pay most of the costs of the transaction (getting a loan or bringing cash in), Sellers pay just a relatively small (considering purchase price) to have a sale handled professionally.

@CR-cx2zc

Ай бұрын

@@mtngrl5859 Yes well said 🙌 Dealerships do the same thing with a trade-in they have to make money for the transaction. There’s overhead cost for a trade-in.

That is why when I became a Broker, I REFUSED to join the GAR/NAR. I knew they were price fixing day one and ran.

I sold my house 2 years ago and didn't use a realtor at all. Zillow and a real estate attorney...DONE.

@ayo9057

Ай бұрын

How much did you save? I was thinking about trying that.

@MusicLover-ui9sm

Ай бұрын

How much did Zillow charge you to list your house?

@ThePerfectSeason1972

Ай бұрын

Corporations are buy them is why. 44% in Texas have !

@JohnyZman

Ай бұрын

Congrats… you were lucky.

@commonsense6967

Ай бұрын

Yes, this CAN work well, but nowdays you have to screen your potential buyers well.

The RE industry brought this on themselves. With the advent of the internet and the associated technologies the RE industry never adjusted their fees. Instead, as the cost of homes went up and up... they continued to seek their 6% fee. When you considered the actual time that agents spend on any particular deal the fee they were being paid was way out of line. The market will adjust

I don’t understand how hard this is when you find the house you like on Zillow you call the listing agent tell them you’re interested in the house you go see it if you like it you tell them you would like to buy it You make an offer if accepted you get a lawyer Done

@networth00

Ай бұрын

Sellers should be able to list for free, a buyer likes the house, then both hire closing offices and pay a couple thousand. We don't need a BS artist aka rip off real estate "agent" and broker.

@patriciamay6396

Ай бұрын

The selling agent is not working for you and your best interests.

@goldenparachute392

Ай бұрын

@@patriciamay6396neither is the buyer’s agent. They want you to buy as high as possible and as fast as possible to get their share of the commission.

@tlindsay1007

Ай бұрын

Selling land is even easier, as long as the buyer and seller are reasonable parties, and the property has no issues. Come up with a price and timelines you can agree on, and then hire the Title Company to do the paperwork.

@mommom3172

Ай бұрын

​@@tlindsay1007sad to say, most parties are not reasonable. I've worked with both buyer and sellers that are bonkers and if a seller or buyer gives a little, the other party will just take as much as possible. Someone gets offended or power struggles. Life would be easier if everyone was reasonable.

The lawyers won and everyone else got screwed.

@andydhillon1977

Ай бұрын

That's usually how it goes.

@azmike3572

Ай бұрын

Old lawyer joke: Why don't sharks attack lawyers? Professional courtesy.

@humanbeing5300

Ай бұрын

that basically sums up society in general

@khukri_wielderxxx1962

Ай бұрын

Usually how it works

@JMyoutube1

Ай бұрын

The lawyers, finteck companies, and the federal government all won.

Oh boy, can't wait for my check for $3.48.

Michael, Based on your explanation, this new law will hurt the home buyer big time.

@marciamakoviecki3295

Ай бұрын

They'll just need a transaction mediator or attorney. Happens all the time.

@mommom3172

Ай бұрын

​​@@marciamakoviecki3295I'm curious how this plays out in 12 months. So many buyers are clueless. Sellers are going to be frustrated big time! It's a very complicated process for the inexperienced buyers or people buying from out of state unfamiliar with laws and customs on their new state.

Brokers are customarily paid on a commission basis. The amount or rate of the commission that a broker may charge is not fixed by law, but is a matter of contract between the parties, And may be any amount that they agree upon.

It’s so funny he is saying that you will be the one to find the homes and such and I was the one who found my home. My realtor was very personable but almost useless when it came down to the purchase of my current home. Plus with websites like Zillow and realtor it’s not hard to find homes for sale and sign up for visits. It might be nice to just have a person do the paperwork.

the house buyers were the ones who paid for everyone. and everything. The sellers put the price up to pay for the commission.

Realtor commissions are too damn high!

@guavagirl8344

14 күн бұрын

You are paying for their expertise. Navigating your way through the sale of a house by yourself is extremely risky. A realtor can help you avoid many dangerous pitfalls.

Real Estate agents should charge to write offers. I don't want to deal with the paperwork. No way!!!!!

Al I ever wanted was 1329 Prescott St., San Francisco, CA

Thanks for the information and the link! And, thanks for the beach walk--it's so relaxing watching the water and the waves.

Too much headache just being a home owner, smh.

I submitted my claim. I'll let you know if I get any money. It was super easy to do online. Just have your closing statement to upload. Less than 5 minutes to complete the online claim form. Thanks for telling us about the website Michael.

@r.dennison5042

Ай бұрын

Why even bother? To get $5? What a waste of time

This will definitely work out in the buyer’s favor. 1) Most buyers already do most of the leg work already, when it comes to where they want to buy a home. 2) Buyers can always contact the listing agent to set up a home viewing. 3) Buyers have the option to buy a home using a realtor lawyer to hold their hand…. for a flat fee. 3) there’s tons of information online to help educate your self before venturing out.

@mtngrl5859

Ай бұрын

Let's have you put the Seller's Agent hat on for a second. The Seller's Agent has no duty to show you the home without you signing an agreement with them. So, you will need to have the attorney sign an agreement & they will have to accompany you on private showings. This will not be covered in your flat fee. Who is going to be there for a 3-hour home inspection. That is not covered in a flat fee. So, that will be another $1200 out of your pocket. Yes, you can come to public open houses to view the home. Let's say you submit an offer with your attorney & let's say that there are 2 other offers being represented by Realtors. Now all Sellers will make their own decisions, but they confer with their agent. Most Seller will not want to work with an attorney. First, in case of litigation, they can represent themselves for free and that puts the Seller at a disadvantage. Over the years, I've had Sellers refuse to sell to an attorney client for this reason. This will hurt VA and FHA Buyers, since they are already struggling to get into homes. Likely Buyers will write in lower offers & finance in the representation fee. I'm sure lenders are already working on this. When I used to work with Buyers, I would always have Seller's pay their closing costs, even if it went over the listed price. This has been done for years.

@JohnyZman

Ай бұрын

Ok go to the listing agent who is already working for the seller. Can’t wait till you find you paid more just so the listing agent can cash in all the commission. Ok get a lawyer who would just love to do a realtors job. Don’t cry when the charge you $500 an hour 😂😂😂

@VeggieAndSomeReggie

Ай бұрын

@@JohnyZmanI’ve seen you comment this a bunch, seems like you’ve been triggered today.

@JohnyZman

Ай бұрын

@@VeggieAndSomeReggie No, I'm annoyed about the disrespect of my profession and people thinking I "Make too much." I work my ass off 7 days a week. On call 24 hours a day. I never go to other people and say they "make too much." Plus I'm more annoyed people have zero idea what they are talking about when it comes to real estate mouthing off on here.

@SOLOSOLOSOLOSOLOSOLOSOLO

Ай бұрын

@@JohnyZmanbro shut up, you think you’re the only one working hard? Some of us out here doing labor work. And I promise we are doing more than you do with your cellphone and laptop. I own two businesses and you’re not going to be on here hyping yourself up on how hard work is. Being the boss is easier than the worker. That’s facts.

I'm so thankful that we have this great channel with such a good content and information quality. And the best thing is that it's completely for free!

@MichaelBordenaro

Ай бұрын

So nice of you

Commissions that THEY negotiated… that THEY agreed to. Fuck these lawsuits.

Thank you for this information! Appreciate your foresight on topics!

Michael thanks for the info. I really appreciate all you do 👍

Amazing how this racket lasted so many decades! He makes it seem like these real estate agents and brokers are doing brain surgery.

@JohnyZman

Ай бұрын

Why do people hate realtors all of the sudden? They act like we aren’t business owners who work our asses off around the clock. Stop hating success!! We aren’t the ones who agree to negotiate with our commissions.

Great commentary as always! Always enjoy your walk and talk videos! You are amazing! The cost of owning a home has always been higher... but the tax benefits and long-term capital gain on ownership is the trade off. Sort of like the situation with leasing or buying a car... except houses usually appreciate in value. Unfortunately rents in some markets have gone crazy as well!

this is so weird , the deal was the deal, why wouldn't they just change the rule going forward? I dont really understand all the details about this

Definitely like the walk on the beach....🤙

Real estate commissions are split max 4 ways. The problem is most agents think they are worth more then the service they provide. They want way to much for a clerks job. Most agent dont know the business of real estate.

Great job! Very informative, thank you 🙏. This brings ups multitude of questions of which we can’t discuss. One thing I will say is the Buyers Agent may, at some point, be eliminated, and the seller agent does all🤷🏼‍♀️ you don’t get a buyers agent to buy a car. Again, brings up alot more questions. Should be very interesting to see how this plays out. The beach looks wonderful 🥰🥰🥰 very calm, like the gulf. Always loved going to the beach after a storm. The energy is amazing 🥰

Love your videos … always very informative… Thank you 🙏

Excellent video Michael ❤🎉

Thank you for all the great tips. ❤ Subbed. I have sold two homes and three condos in the last ten years. All were my primary residences. I am some kinda nut. I like change, and I like decorating. In fact, I am spending my first night in my latest acquisition. I used realtors in all but one of the transactions. I negotiated the commissions, but still forked over a ton of Benjamins because Seattle and Maui ain’t cheap. Some of the realtors lucked out and it was easy, some worked hard for the money. I have respect for all of them.

Notice. The amount or rate of real estate commissions is not fixed by law. They are set by each broker individually, and may be negotiable between the seller and broker.

@EMA-uk5ob

Ай бұрын

stop it

@mtngrl5859

Ай бұрын

I'm a California Realtor, it is bolded in listing agreements that they are negotiable. When I meet with a Seller, I have the title company create a closing statement that shows what they will net & how much the Buyer's Agents and Seller's agent gets paid. I have them initial this at time of listing. Further, as soon as the home is listed in MLS, I have the Seller sign the MLS data sheet, so they can see what is being represented. I've never had any Seller not understand this.

@JohnyZman

Ай бұрын

Agreed. People will still pay 5 or 6% whether you all like it or not!!

Michael, I'm happy to share with you. My direct experience from my North Florida condo, where we ended up being assessed more than a 100k. Per owner and we just reopened.

If we buy in the next few months, can we avoid dealing with this new law?

Thanks Mitch

Thank you!

OMG thanks. I used Compass and sold my house in NY Jan 2023. I’ll definitely let you know how it turns out.

Thanks Michaek! I filed 4 claims! All Keller Williams. We shall see. 👍

We got lucky in June and told the buyers that we would sell at their offer if they paid the buyers fees.

A little busy today so this one’s for the algorithm. Blessings,Carlos ✝️🙏❤️😊🇺🇸

From a couple different sources I've read, the average payout PER HOME SELLER may be about $10.

@JohnyZman

Ай бұрын

Good!!!!😂

Michael thank you for this video! Always great information and thank you for the link. Sold my hm in "21" and paid over $36K in commissions. My listing agent was fantastic the buyer's agent was unfortunately unprofessional. Keep you posted on what I receive.

We sold our house in July 2023. It was located in Pittsburgh, Pennsylvania. Our Realtor was with Berkshire Hathaway and we paid 6%.

@MichaelBordenaro

Ай бұрын

Check out the link see if you’re entitled to some refund

Good video Michael. Here’s an idea for you.Start a new business niche called “Rent a Realtor “ 😂. Similar to attorneys, financial planners, etc who charge/bill for services at an hourly rate. This business model could work equally well for experienced sellers. Here in NC all closings are done by attorneys. Enjoy your updates, keep up the good work 😎

Someone should come up with a "Buyers Listing Service". Someplace where a buyer could advertise their qualifications (like cash) and state what they are looking for. Let the market come to them....

@marciamakoviecki3295

Ай бұрын

That'll happen

@mommom3172

Ай бұрын

Buyer's agents have access to a platform like that. It is called Reverse Prospecting. When your agent inputs your search criteria other agents can contact them when they have a listing that meets your criteria.

20:23 im glad that you are talking about this because this is risk that no one talks about

Thanks Michael I was able to file my form from a house I sold in 2019 listed on Miami MLS incredible goes back to 2015

Already got my paperwork filed. We'll see if I get anything back.

Great Idea! I hope that it goes through?🇺🇸😎☘️

The biggest thing we as agents get paid for is being on call 24/7 and the pressure of negotiations (there's always a wrench that gets thrown into the mix usually at the 11th hour). There's nothing easy about getting a deal closed.

We've sold multiple properties during that time, but not a state listed😢that figures

Well who is paying that back? A contract is a contract; you have the right to not take it. Well maybe not...I guess that is the issue.

Thank you,

@MichaelBordenaro

Ай бұрын

You are welcome!

My band and I just did a show at the Jackie Gleason theater and dealt with all that rain the other day. Lol

I don't remember where I heard it but "You will own nothing and be happy".

@kenwood7095

Ай бұрын

They will be happy.

Offer making and contract submission forms will become much more user friendly for buyer self submission. Automation similar to investor submission databases will roll out for retail buyers.

Love the beach shots!

Been an agent since 1990. Remember when the broo ha ha happened with the institution of buyer brokers exclusively representing buyers and slicing dual agency? I predict buyers will use sellers agent not having to pay any type of fee or commission. What goes around will now come back around. I represent sellers only and man am I glad for that.

sold on any MLS in USA Feb 1 2020 to Feb 1 2024. If you don't submit claim form you get nothing and lose claim.

Thank you. I sold my house in November.

@andydhillon1977

Ай бұрын

How much commission did you pay?

@networth00

Ай бұрын

@@andydhillon1977 Probably 6%.

@MichaelBordenaro

Ай бұрын

You’re welcome!

@pristinedetailing5171

Ай бұрын

@@MichaelBordenaro claim has been submitted. I'll let you know what happens.

@jackierod8902

Ай бұрын

I sold mine back in 2022 with Allan Tate, and I checked the link website, and it says something like it goes up to 2020. So,I assumed that I did not qualify.

THANK YOU for the heads up! in April 2021 my wife and I paid over $23k to a buyers agent when we sold our home in Boise, Idaho. Even getting a few hundred dollars of that back would be nice. :)

@andydhillon1977

Ай бұрын

So you had to pay 2 fees? Buyer's and seller's fees

@kevinduveneck1504

Ай бұрын

Why did you pay them? Was the $23,000 part of the commission that you paid to your agent? If so, then if your agent gave the buyers agent part of the commission you agreed to pay, why should you have any say in the matter?

@Mrdiver001

Ай бұрын

I paid 58k buyer & seller fee😡 what a waste

@andydhillon1977

Ай бұрын

@@Mrdiver001 Gawt damn!!!

@seanchristophersynthesizer6999

Ай бұрын

@@kevinduveneck1504 My wife and I were going through a VERY stressful time with a recent death in the family, our disabled son, and I had just broke my neck due to a careless FedEx driver. With surgery after that, all we wanted to do was sell the house and move across the country. so we just did what the agent said was normal....which was the usual 3 percent to each agent. You live and you learn, I guess.

I am already hearing rumors in the private capital markets of investors looking to invest in startup companies that offer real estate as a service (REAAS) to replace the buyer's agent so it looks like the market is already adapting to these changes for the good of the buyer!

Thank you

Great video by the way .

Our daughter signed up with a buyers agent.. (richmond virgina).i never heard of such a thing. After 2 weeks of being showed what she said she did NOT want...she had to write a letter with reasons of why to fire the realtor! Ironicly i found the home we bought 33 min on market! Im 2300 miles away in washington state.

Lawyers do have to apply to the court with disclosure of any class action lawsuits. Sit down because the lawyers get 51% of all class action lawsuits. You get a coupon for Burger King horse meat

I sold my home last March, will definitely let you know if I get any.

Guessing buyers working without an agent, are going to have less flexibility when it comes to showings. May need to wait for open houses.

Thanks, Michael! I was in a condo in Marina del Rey over the weekend. There had been considerable anxiety and expense in the past ten years because of slipshod initial construction. So much is hidden that, in my opinion, buyers should just stay away from those buildings. If you buy, you will regret it.

I’ve written offers on on pc of copy paper! You can also go on line and get standard fill in blank contracts and you can educate your self on line on the process. Just communicate .

Thanks so much for this information. I did sell my house during one of the required timeframes. I have filed and even if I only get $5, that's a cup of coffee on them for my troubles. 😁 After reaching a bit more once I heard about the lawsuit, turns out my realtor actually charged me an 'additional' fee of $400 for her assistant. Which I now hear was pretty ballsy of her on top of her commission. WTF! I'm definitely going to be more aware next time. 😠

@MichaelBordenaro Thanks Michael! This video really helped me with a decision I need to make. I'm 75, and getting ready to close on some land that I sold in Georgia. The proceeds will allow me to buy a home as a 1st time homebuyer. BUT, to your point, at my age it doesn't make sense. I am on a fixed income here in Florida. Based on your info, it would make more sense to rent than to buy. Most important thing to do is to get a really good landlord. Appreciate the education!

I sold two homes in Phoenix. One 2020 and one in 2021. I should get enough back that when I visit my brother in No Cal that I get a McDonalds happy meal from a kiosk. Phoenix was an eligible market. I seen article online

Thanks a lot . I ll try regardless even a couple of hundreds dollar :) . I sold 2 houses in the last 2 yrs .

Im convinced that the big investment firm’s are secretly/ deeply behind this. Yeah Mike thanks for sharing these vids. Your views on homebuyers are on point. . My forte was buyers. I’m at a point that I’m almost set with the business. In Massachusetts. Im done.

Here in Missouri my clients are getting letters from a company that is gathering information on sellers who sold in the last 2 years. It has to do with the lawsuit that started here in Missouri . It's really think that this lawsuit hurts the buyers. Indirectly those buyers were paying the commissions . The sellers always factored in the commissions by raising the price to net what they wanted . The buyers are now vulnerable and challenged by these new proposed changes . Also cbre is not factoring in the upcoming r. e. Crisis. In Missouri you can in some areas buy for what you pay for rent .