Study folks you dont need a agent.

@CreateYourWorth

Ай бұрын

Try it yourself and see how much you need a realtor. If not, get a lawyer you'll need either one for legal docs. You'll learn quickly. I'm assuming you've never purchased a property

@lynnjones9712

Ай бұрын

@@CreateYourWorth You must be a realtor. You don't need a realtor or a lawyer to sell a home. The title company does all the paper work. I have already sold a home myself.

@destroystreets1023

Ай бұрын

As an agent we love when you dont have one. Your the seller, great heres the inspection notice, please have all invoices, lien waivers and paid reciepts to me 3 days before closing let me know if you need a roofer and and hvac guy they can get it done before closing.... your the buyer great we can close asap no agent fees to you just let me see your pre approval also theres multiple offers what do you wnt to offer to get the house, ok esign this doc here, you can get an inspection if you want to but its got good bones.... then i get both sides of the commision lol

@mdzmdz7329

Ай бұрын

@@destroystreets1023 multiple offer no problem, sold as is zero contingencies. Get a real estate attorney pay them 1500 bucks done deal this eliminates the re agents lies,tricks, billing BS! Been in mortgage since 1989. This a predatory job bothering homeowners and stealing all there years of hard earned Equity. I'm not saying dont make money but make it Moral. 1 percent is fine but never to exceed that 1 percent.

@klyethomas1987

5 күн бұрын

You don't need an Attorney when you go to court. However, there are two sides, the prosecution and defense. When you do it on your own, you don't have someone professionally completing the paperwork in your best interest. I think analysis of deals constructed by agents vs deals accepted by a real estate novice show obvious differences in out-of-pocket expenses. Buyers who work with a buyers agent have the ability to submit more competitive offers, while still paying less out of pocket. Sellers benefit, receive more competitive offers, and save TIME when their new listings receive multiple offers from competing buyers agents who may have spent much more time grooming and preparing a buyer to complete a transaction. There are so many things advanced agents can do, that novice people never even think about; like asking to have 6 months of their mortgage payments pre-paid for them. Advanced agents with experience add value to transactions. Also, being a licensed Attorney does not qualify someone to practice real estate. It only allows them to sit for the exam without going to real estate school first. Even licensed Attorneys must still take and pass the real estate/ or brokers exam to practice in residential real estate transactions. Historically, real estate has been filled with bias. Blacks and people of color were denied mortgages because of their race before the Fair Housing Act (FHA) of 1968. Sellers have codified racial discrimination with restrictive covenants in deeds. Sellers have also sold people houses and not the land under the house (Ground Rent) en mass. This practice, while frowned upon, still plagues cities like Baltimore to this day. Caveat emptor.

I sold my house before and the realtors made $52,000 and I made $21,000 after costs

@RealEstateWithJacquelyn

2 ай бұрын

Sorry to hear... Most agents never make more commission than the seller on a home, in rare cases where the owner only lived in a home for under 5 years and does not have equity in their homes. Most sellers I have represented, come out close to $100k after paying commission....

@GenXamerica

2 ай бұрын

You must not have had a lot of equity built up. Most sellers coming off the table today with at least $100,000.

@actingtavis

2 ай бұрын

You sold that home with very low equity.

@widowmaker7462

2 ай бұрын

It's like buying a car. If they smell that you are not informed they will take advantage of you. You should be more informed or at least have one friend who knows more than you.

@motorsport2k

2 ай бұрын

Sell it yourself next time and see how you fare....lol

Good! We are sick of being ripped off!

@silvamarkarian

2 ай бұрын

ripped off?? This means when you go to buy a home you need a down payment, closing costs and another 15 grand for your realtor...looks like you'll be getting ripped off...

Buyer agents will be replaced by chatbots 😂. Naive to think they’ll be around. They’re DVDs in the world of Netflix.

Why would we need them anyway? 99% of the time we find the house from Redfin and ask them to just represent

@mommom3172

2 ай бұрын

Good luck out there! Those who can afford an agent will have one & you won't! That's what this settlement means. If you can't afford your own, you can DIY and go up against competing buyers who have an agent. Who do you think will win?

@bravehats

2 ай бұрын

​@mommom3172 - Your funny, many agents are empty headed. You can buy a house without a buyer's agent. We are no longer in the frenzy market where people are buying houses like candy. It's slowly getting back to pre-pandemic time. A house will sit on the market longer (30+ days). Buyer can do a better job than many so called buyer's agent.

@BoldWittyName

2 ай бұрын

"99% of the time" lol how many houses are you buying per year my guy?

@RealEstateWithJacquelyn

2 ай бұрын

@@mommom3172 - This is true... The proposed changes will disproportionately impact lower-income buyers and those who may not possess the necessary knowledge to navigate the homebuying process effectively. Considering that the majority of home buyers fall into these categories, the potential consequences of these changes are concerning. It's akin to not having an attorney represent one in a divorce, leaving individuals vulnerable and disadvantaged in a complex legal landscape.

@pmaki37

2 ай бұрын

@@BoldWittyNamethey meant 99% of the houses you find to do a viewing, which can be 100’s of houses when you’re looking.

Redfin is 1% in many areas

@spencercoleman3191

2 ай бұрын

Typically a flat fee too. Only If you buy a home with them after which they assume will be 3% which a buyer may have to pay now if not some other portion of that. They still ask for 4% or a flat fee to present 3% a buyers agent.

You can't imagine ??? Yeah, you probably can't . Start. Standard contracts are VERY easy to fill out & the title company does the real work.

So, for those agents how many hours do you typically spend on one sell from the start to finish process?

6% of purchase is crazy. They do about the same amount of work regardless the price of home. This is good for buyers and sellers. Don't believer the realtors when the cry about this increasing costs, it does exactly the opposite. Makes them compete.

@GenXamerica

2 ай бұрын

They’ve always competed. People just need to talk to more than one and not get emotional about the buying/selling process until they’ve picked a good solid agent to handle their business.

@RealEstateWithJacquelyn

2 ай бұрын

It's interesting how attorneys receive retainer fees, often without the same level of expenses as realtors. They're not sacrificing family time, working around the clock, including nights, holidays, and weekends, often missing out on important family moments. Realtors do all of this and more, yet most don't charge a retainer or upfront fees to cover expenses like gas, car maintenance, and labor. It's evident that many people aren't aware of the extensive costs and time commitments involved in real estate. This lack of understanding is perhaps why many new agents struggle to sustain their careers beyond a year. I've been collaborating with four new agents, and they all express concerns about how to generate business. Consider the cost of Google ads, for instance, where the lowest fee is $600 per month for fewer than 8 leads. Moreover, approximately 99% of these leads turn out to be unproductive, mere window shoppers, or prospects that may not materialize into a sale for another 1 to 5 years. It's a testament to the long game in real estate, exemplified by my recent sale from a lead that had been in my pipeline for over 5 years.

@Gomer-lw7rd

2 ай бұрын

6% is very cheap . It’s very hard to close a real estate transaction . Should be 7-8% . Costs 15-30% to be put a high value item in 1 day

@AaronsStudio

2 ай бұрын

You clearly have not the faintest idea what you are talking about. Bless you!@@Gomer-lw7rd

@johneckert1365

2 ай бұрын

​@@Gomer-lw7rdIt is not hard to close most transactions.

This will hurt buyers and sellers. Sellers will not get the best outcome without incentivizing a professional buyer agent, therefore inventory will start to build up because the homes will not sell as fast. Buyers are now facing having to pay a buyer agent commission

@BedbugGaming

Ай бұрын

simply put - it will cost buyers more up front to buy homes, they will have less purchasing power. this will be a downward influence on the market. to what extent remains to be seen.

@wolfee904

Ай бұрын

professional buyer agent excuse me while I vomit ... there feel better now professional scammer more like it

How is this going to bring housing prices down? My house value has nothing to do with a realtors commission check?

@BedbugGaming

Ай бұрын

yes it does. typically about 6% of the sale price is commissions. so, on a $1m home - you'll get about $940k. the "beauty" of the current system is that buyers are able to finance the commissions in their mortgage. after ruling - you might think you're still going to sell your house for $1m... and now only pay seller commission and get $975k instead of $940k (woo!) - but the reality is every buyer now has to come up with an extra $25k, and likely, up front. so - you've just reduced the buying power of every buyer. the demand curve shifts down. everything being equal - previously, $1m might require a buyer to have $220k in cash ($200k for 20% down and $20k for closing) and an $800k mortgage. now it would require a buyer to have $245k ($200k for 20% down, $20k for closing, and $25k for buyer commission) and an $800k mortgage. as money doesn't materialize out of thin air, most likely a buyer will now see their $220k as letting them have $20k for closing, $20k-ish for commissions, and $180k for a down payment, putting them more in the market for a house in the low $900k's.

@kellis773

Ай бұрын

@BedbugGaming I'm not going to lower my price because of a realtors' commission. My value is the value, and I don't care about commissions.

@BedbugGaming

Ай бұрын

@@kellis773 it's a free country, you can put your house on the market at whatever price you want. you could put a tiny shack in the ghetto on the market for $10m... if you want - doesn't mean anyone will buy it, or buy it as quickly as you'd like. believe you me, there are people that totally do that. they put their house on the market for some price that is way above market and just let it sit there... hoping for some luck... or just really aren't eager to sell. but, we're talking about the general housing market of people that want to buy and sell with some urgency. the change in how commissions are paid will reduce buying power and will be a downward influence on the overall market. also... saying you don't care about commissions might make you feel empowered or something - but the reality is you're paying them - why wouldn't you care about them?

@seankazmi3129

23 күн бұрын

@@BedbugGaming the only difference in commission percentages that matter or once you’re above $1 million dollars sale and up. This is still a sellers market in terms of getting more at closing back. What good is this? If we have an issue that buyers have to waive various contingencies on purchasing a home

@BedbugGaming

23 күн бұрын

@@seankazmi3129 I don't know if it's good or not - buyers will also theoretically need to have more cash. What I'm saying is that if buyer's must pay the current commission to the buyer's agent, it is a downward pressure on the overall market. This isn't even disputable, it's just basic economics.

There was no justification for a commission fee if we’re paying you a certain amount for finding or selling a house for us.

Few thing that raises eyebrows about this realtor: 1. Things are not moving fast in a 7% interest environment. Utter BS 2. There’s nothing she provides that an app or checklist can’t do 3. When the market stabilizes buy side will likely have to work for a fixed fee (if they’re not automated away) All the whining from realtor just proves that the medicine is working.

Sellers are overjoyed until they have to find a home and pay a buyer's agent. You pay one way or another.

Just sad reading the comments. No one here knows anything about the business

@jeffphakenewz8556

2 ай бұрын

Much like everything else on the internet.

@davebonilla4561

2 ай бұрын

Exactly.

My only beef with realtors is that both buying and sellin realtors get together and screw both sellers and buyers by increasing the price.

@actingtavis

2 ай бұрын

That's actually not a thing. I've been a realtor for years and have never been approached to do that nor my agent friends have ran into that.

@destroystreets1023

2 ай бұрын

never seen that either, but since ive been alive people have been saying things they know nothing about and passing them off as true@@actingtavis

@shanes1221

Ай бұрын

Then you have no beef because that doesn’t happen. 2.5% interest rates and low inventory increased home prices.

There are going to be plenty of deals and lawsuits when these buyers not informed buy a propperty that is a lemon, because they bought it without a Realtor.

My real estate agent just opened the door and said go take a look something I could’ve done on my own

@RealEstateWithJacquelyn

2 ай бұрын

It's understandable that you might feel that your real estate agent's role was limited to just opening doors, especially if that was your primary observation during the process. However, it's essential to recognize that a proficient buyer's agent's responsibilities encompass far more than that initial impression. While it's true that some agents delegate the task of showing properties to newer agents, their value lies in the extensive work they do behind the scenes. This includes negotiating on your behalf, ensuring the home is priced accurately, confirming your qualification as a buyer, and coordinating with various parties such as lenders, title companies, inspectors, and sometimes even contractors or moving companies. The reason for this comprehensive approach is to make the entire homebuying experience seamless and stress-free for you. A skilled real estate agent operates with the goal of shielding you from the complexities and challenges inherent in real estate transactions. By handling the intricate details behind the scenes, they allow you to focus on finding the right home without being burdened by the less glamorous aspects of the process. So while it might seem like your agent's role was minimal based solely on the task of opening doors, their effectiveness is measured by the smoothness of the entire transaction and the peace of mind they provide you throughout the process.

@actingtavis

2 ай бұрын

Not if they aren't wanting you there without representation. They don't know you

❤❤❤

About dam time! In my experience the tittle company and the loan agent do most of the work. Realtor market place is over saturated with would be realtors looking to make a killing on each home sale/s. (For context I’m in Northern California) it’s simple, it’s hard to justify realtor commissions for the amount of work they do! And before any realtor reply’s to my post! I don’t care! I’m glad the party is over and the gauging of sellers and buyers had to stop some day! Now if we can only put an end to foreign investors and banks purchasing residential homes but that’s a different topic all together!

This is not a good thing for agents or home buyers. Anyone telling you differently is either lying or an idiot! Buyers will have to pay more closing cost out of pocket.

@BedbugGaming

Ай бұрын

it should also cause the nominal value of homes to drop by some multiple of the new commission (buyers simply won't have the money). it could be a great thing, if you're flush with cash... not so great if you are financing.

Realtors are the biggest scammers in home buying. Who cleans and sets up a home for a open house, the home owner. Who tells the buyer what is wrong with the house, the home inspector, who does the paper work when selling the home, THE TITLE COMPANY. The realtor takes 5 minutes to type up an ad and put it on the internet. Then spends 2 or 3 hours showing a home during open house. So basically they are a Walmart greeter and want $24000 for a $400000 home. The MLS is the biggest realtor mafia scam out there.

NAR failed it is what it is. The lazy buyer agents will deplete and the hard working agents will win in the end. Thank KW & Re/Max for not fighting, which, they had no leg to stand on anyways when they teach you to be a greedy agent in MO saying "You will not be listed on the MLS if you don't accept the 6% commission agreement, That's not negotiatable" - Plaintiffs ... But hey! give the cockroach lawyers a standing ovation to charge their 40% commission on that $1.7 Billion settlement... Which is not negotiatable, right? The real winners are the Lawyers not the 500,000+ seller plaintiffs... they most likey received a letter in the mail from the scumbag lawyers to fill out and sign the lawsuit, to make pennies on the dollar, and have no clue whats going on in first place... So when will the agents go after NAR for the reimbursement of all the fees they paid, since they failed their REALTOR®

@GenXamerica

2 ай бұрын

Blame the brokers who did not teach the slew of new agents how to properly present a listing agreement. Brokers should value their successful seasoned agents instead of constantly recruiting hoping for one or two transactions out of many. It’s time for a weed out of agents who thought a career in real estate is easy.

TLDR - Fee rules wont go into effect until mid July 2024

It's about time!

The old way was good people metaling in something new. New sucks old ways are always the best ways

good luck trying to find a realtor if youre a buyer😂 literally nobody will work for you, why would they..? for free? gfto😂

@drich8806

2 ай бұрын

Exactly. All this did was screw buyers

@bravehats

2 ай бұрын

I can see many agents looking for a new profession. Goodluck to many Realtors. They will need it.

@GenXamerica

2 ай бұрын

Agents are going to have to actually sign buyers the same way they sign seller listings. It’s that simple.

@silvamarkarian

2 ай бұрын

@@GenXamerica buyers cant afford it.....its going to be a mess. No buyers and black rock buying up all the houses....

Brokers will probably drop out of Nars and continue to do the same thing

She sounds like a good realtor unlike most who have reduced themselves from an agent, to a salesperson, to an order taker using fake perceived value that nobody believed.

AI should replace car salesmen and realtors! Automate those jobs first (Skynet) AI…….

If you think you don’t need an agent you’re a fool. The difference lies in who is a realtor and who is a “realtor” that is the difference in quality vs quantity agents that will still thrive in this market

@rack9458

3 күн бұрын

I'll take the advice and protections given by a Real Estate Atty any day over a 60 hour "trained" real estate agent!

20 years ago realtors were saying the same thing. "Navigating this incredibly difficult pile of paperwork cannot be left to just anyone'. Uhh, news flash. A dog with a note in his mouth could do one of these transactions.

@davebonilla4561

2 ай бұрын

If that were the case, Real Estate agents would have ceased to exist many decades ago. So many clueless comments.

@Ritz2122

2 ай бұрын

Man are you wrong. Good luck with that dog getting you through closing. LOL

@Max_Griswald

2 ай бұрын

Having purchased several houses in my life, I can safely say that having a realtor helps in a lot of ways. I can promise that this settlement is not going to have the intended result, because now there will be way more people trying to buy on their own, and they are going to get fucked most of the time because they don't know what they are doing.

@SlumberSource

2 ай бұрын

You used the F word@@Max_Griswald

We are not supposed to refer to them as clients! She should know better

@GenXamerica

2 ай бұрын

When you have a signed active contract for service with a seller or buyer they are a client. And even after the sale or expiration she has a fiduciary duty of confidentiality.

$500 take it or leave it

Most people don’t know that most agents worked hard for their money, and agents have to pay lots desk fee, mls fee, insurance, signage and lockbox fee, gasoline etc even they don’t make a penny if deal don’t close after they showed a buyer 50 to 100 homes(no joking), who is going to show or help veterans to buy homes now since VA policy forbidding buyer to pay any fee to agent?you can change law or policy anyway you want, it’s free market and no one can survival if working for free or $minimum wage in the long term. Why hire agent at all or even pay 2.5% or flat fee to anyone if you can DIY? (Buy or sell) since Fsbo existed over 100 years ago. Not try to argue with either side, it’s free country, free market, More power to people.

@tyrehester5550

2 ай бұрын

Hire a lawyer to write up your purchase contract. Require that your lawyer handle the closing. No agent needed. 😮😊

@davebonilla4561

2 ай бұрын

@@tyrehester5550 Did you not read his post?

@AaronsStudio

2 ай бұрын

and yet there are more realtors than homes available in many markets. If realtors are getting screwed here, what is the attraction to the profession? I think many of us non-realtors already know the answer to this question.

@Max_Griswald

2 ай бұрын

​@tyrehester5550 - I'd rather pay a realtor's fees than a lawyer's fees.

@michaelhurley545

Ай бұрын

@@tyrehester5550 last i checked Lawyers don't work for free...

Love it…. You can sell your own home. You don’t need a realtor. I did it….

It’s about time🎉

I ain't getting a realtor

Shady Agent crying 😂

Only realtors are pissed. Everyone else can’t wait for a massive change.

@GenXamerica

2 ай бұрын

Only bad agents are “pissed”. Good agents are happy this weed out of bad ones will finally happen.

@zach2733

2 ай бұрын

Because people don’t realize what the consequences will be to this.

@joelballard4955

2 ай бұрын

@@zach2733 the only consequence will be cheaper transactions, more control for individuals who don’t want a realtor, lower prices, and realtors making what they are worth, which is about the 40k a year.

@Max_Griswald

2 ай бұрын

I am not a realtor, have no connection to any realtors. However, I have bought houses in my life, and I have seen other people buy houses. I can guarantee that this is going to cause a lot more issues than people like you are expecting.