Real Estate Commission Change 2024
In this video, we delve into the imminent Real Estate Commission Change, highlighting the impact of recent court rulings and settlement proposals on who pays the real estate commission. The content unpacks the future implications of these changes, particularly focusing on the National Association of Realtors' response, the evolving responsibilities of buyers and sellers regarding agent commissions, and what these shifts mean for the traditional real estate model.
Key Real Estate Commission Change 2024 Video Highlights:
🔄 Real Estate Commission Change: Explore the significant shifts in who is responsible for paying the buyer's real estate agent and how this is transforming the real estate landscape.
🏛️ National Association of Realtors' Response: Understand the stance and proposed changes by the National Association of Realtors in light of new legal settlements affecting real estate commissions.
🚫 Sellers No Longer to Pay: Dive into the ramifications of sellers no longer automatically covering the buyer agent’s commission and the emerging trend of buyers potentially handling this cost.
🤔 Future of Buyer Agent Commissions: Analyze the prospective landscape for buyer agent commissions, considering if buyers might increasingly opt to buy a home without a realtor or choose discount real estate agents as a cost-saving measure.
Karrie Hill, JD, DRE 02160215, California Attorney turned Realtor
415-435-7777
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🏆Karrie's Group did 3.5 Billion in Real Estate transactions in 2023
🏆🏆Graduated top of UC Berkeley Law
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00:00 Introduction to Commission Changes
00:40 Evolution of Real Estate Market
01:18 Digital Transformation in Home Buying
02:01 Buyer Empowerment through Online Access
02:35 Shifting Perceptions of Buyer Agents
03:09 Agent Value Communication Lacking
03:42 Traditional Commission Structure Explained
04:19 Fast-forwarded Update Insertion
04:55 Legal Shifts Impacting Commissions
05:30 Pivotal Real Estate Lawsuits
06:11 Landmark Real Estate Trial Highlighted
06:53 DOJ's Involvement and Recommendations
07:39 DOJ's Push for Commission Changes
08:14 NAR's New Settlement Proposal
09:01 Alternatives to MLS Commission Listings
09:43 Potential Changes in Commission Disclosure
10:20 Implications for Sellers and Buyers
10:55 Future Speculations on Real Estate
11:28 Nationwide Realtor Referral Offer
12:05 Closing Remarks and Further Resources
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Пікірлер: 8
The news you see is mostly wrong! None of this has happened yet. Commissions were never set at 6%. Commissions have always been negotiable. Sellers can still offer to pay for buyer agent fees they just won't do it on a little field box in the MLS that currently exists. The biggest change is not even being reported - that buyer agents must have signed buyer representation contracts before showing any properties. The parties, like agents and brokerages, are gearing up for the changes, but again, nothing has changed yet. There are no new rules...yet. How do you think these changes will affect you?
Thank you for the grounding information and truth
@karriehill.jd.realtor
4 ай бұрын
Thank you so much!!
Your combined legal and real estate knowledge shines through in this video. I'm visiting Marin this week and enjoying it immensely.
@karriehill.jd.realtor
4 ай бұрын
Thank you. And, oh, I'm so happy you are enjoying it. What a range of weather you are seeing too, lol. Thank you for the compliment!
If I am a a buyer and I don’t have enough to pay my buyers agent and seller says they will not pay anything in concessions, can a buyer agent in leu of commission ask to be 1% owner in my house?
@karriehill.jd.realtor
4 ай бұрын
That's some creative thinking. 😊 I don't think any buyer agent would want to be 1% on anyone's house because they would pick up liability, be subject to property taxes, and most of all because buyer agents have bills to pay as well. I suspect that lenders will change the way they do business quickly and they will allow people to add the cost of a buyer agent to their mortgage. After all they do that right now but it's because it's part of the purchase price. I may not be answering the problem that you are thinking of in asking that question. If so, sorry about that. Feel free to clarify. And thank you so much for asking.