Ah, yes. Houses got ~130% more expensive and we can fix that by dropping the 6% commission. The Corporate Math is ✨️mathing✨️

YANG GANG!!!

Will have zero effect on prices.

@DannerBanks

2 ай бұрын

Yeah it's a nice change but the significant force driving home prices is supply

As someone with a R.E. license, the association of Realtors is a bigger problem than realtors themselves. They cost a ton in dues. There are real estate agents that do a lot for their buyers and sellers. Price fixing with the commission is an issue but there are already companies like Redfin who were advertising %1 commissions. The bigger issues are corporations buying up houses and screwing up the market, stagnant wages and high interest rates.

@terrillmel

2 ай бұрын

I agree. But I think both need to be adjusted.

@watamutha

2 ай бұрын

I dont think the problem is corporations buying homes. I think it's the Boomers who buy multiple homes, not letting them go, and not dying! I think the stat is like 50% of homes are owned by people over 60, who are 25% of the population! So essentially, each Boomer owns 2 homes.

I’ve thought about the housing issue for years now and have only come up with a few different solutions. 1. Change the building material in which you build your house. This will take a huge change in zoning laws and city codes but is still feasible. Hempcrete blocks, adobe bricks, COB and even shipping container homes, are great alternatives to pricy traditional homes in terms of affordability and sustainability. These alternative houses cost more in time, labor and creativity than in cost of materials. We would also need to designate certain areas around most major cities for this specific purpose and offer a program where the land inside the area is kept affordable to own. 2. A more long term approach is to build down instead of up. You can dig a 2,000sqf 7ft deep hole cheaper than you can fund just the materials to build a traditional 2,000 sqf house. These houses require way less material like insulation and concrete but require a good deal of heavy machinery and thoughtful irrigation planning for flooding and plumbing. The material removed for the hole can be placed back over your completed (roof) and now your (roof) is also your front and back yard and your home sits far enough in the ground that only a small mound forms above ground. I know these are nature based solutions but it is painfully clear that trying to throw money at any crisis just ends up lining someone’s pockets.

I am a real estate agent in northern California, 40 minutes north of San Francisco. What our association is doing is going to make the buyers pay the 2.5% for their agents rather than the traditional seller pays their agent 5% and then they split it with the buyers agent.I don’t see how this will make houses that much cheaper but will make the buyers have an additional 2.5% cost on their end and addition to their 3% loan origination fee they pay already.

It will hurt first time buyers. Buyers Agents commish will roll in to the mortgage ultimately.

People do not realize how hard real estate is. I thought it was super easy going in but in reality it’s 10x harder than I expected. It’s amazing helping people find solutions and getting first time home buyers a home it’s one of my favorite parts but it has not been an easy gig and requires hours of training and you pulling together your own resources.

This video 🙌🔥

People buy based on their payment, not on the total price. This will have a marginal effect on affordability.

Why is there an expectation that a home will increase in value as it deteriorates? Its not like wine, where homes get better with age. They break, things go bad, things need replacing. They deteriorate, yet we for some reason expect our home purchases to be worth more as they age?

@darwingortiz7013

2 ай бұрын

The problem is not that homes are going up in prices, it is that the Dollar is loosing his buying power. That's why it seems that houses cost more when reality is that our dollars are becoming meaningless. Gas, food, materials, cars, washer machine, electricity, water, you name it is costing us more. TVs and smartphones will be very accessible. They are used for the regime to advance and promote their agendas propaganda and collectible thought control.

I don’t get it. So are sellers going to sell under market value since they don’t need to pay a buyers agent? Is that why prices are going to drop?

If the government built middle-class housing pegged to a set % to balance private building gear to the area’s needs it could make money, break even, lower the price of privately built houses and/or have a market force of getting privates to build better, more efficient and innovate. They would HAVE to compete with government builds. Even a slight loss ov government housing would be offset by the standard of living of all improving. The right adjustable mix is the answer. And for god’s sake cities need storefront vacancy taxes adjusted to area like they do “Hotdog stands.” Make it cost a lot not to rent.

Buying a simple, practical home doesn’t need to be a lifelong investment for generational wealth. That’s how we got into this problem in the first place. Food & shelter are basic human needs & rights

I hope that the long-term effects of this are better for the industry as a whole. My initial thought is that this is bad for buyers. Commission has always been negotiable; there's never been a 'fixed price.' That's always been illegal and a violation of antitrust. I think this is going to add more burden on the buyer's side. They will now have to choose if they have to go without representation just to buy a house that they're overpaying for, with high interest rates in an economy where most Americans are cash-strapped at the moment. It's a loss for the buyers. A slight win for sellers who didn't understand they could negotiate. I hope that this raises the standards and weeds out discount/part time agents who don't know how to represent their clients

I wish there would have been a more in depth discussion of how this settlement will affect both sellers and buyers. There is lots of talks about the fact that it happened and that is is aimed at doing away from the standard 6% commission but not nearly enough talk about what the new rates are expected to be, how those rates may vary based on the price range of the property or the geographical area. A deep dive into dual agency vs singular representation, etc.

Bad for realtors.

@Red_Twizzler

Ай бұрын

Good for society

wanna solve housing, then repeal the Faircloth amendment

Seems like this will hurt the working class realator but still not handling the issue of flipping and corporate buying up homes. Relators are on call 24/7 and have access to homes outside of zillow and etc. glad i had mine when we got our house they are really an advocate. There weren’t many jobs for women to decide to be a stay at home mom or a mom available to pick up their kid anytime and it is a job a woman can easily get into. I bet this saved a lot of lives that there was this option for women. Taking money away from the working class will just be allocated to the wealthy. The high interest keeps ppl buying homes to rent them. That gap into middle class Is becoming unattainable.

@Red_Twizzler

Ай бұрын

Get a real job, you terrible person

yea it will be cheaper, you will pay for some shitty wooden house 800000$ instead 850000$