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Hi, thank you for the comment. Nothing has really changed regarding selling one home and buying another. I'd find a great selling agent and hire the same agent to buy the other home. You can negotiate a discount in commission because the agent is getting two deals. Best of luck!

Hi, that's so frustrating, I'm sorry you need to figure this all out. I would start by reading your buyer representation contract carefully and look for the cancellation clause (and potential continuation period that covers the agent after you cancel) just so you'll know the worst case scenario if you don't get back on track with the agent. Regarding the fear of triple commissions, that shouldn't happen, The contract should make clear that if you pay your agent because a home seller won't pay, that you won't owe that commission twice. It's about getting your buyer agent paid once, not twice. However, that your agent hasn't responded to you in almost a week is not a good sign. Without a super great excuse by the agent, I'd look for that cancellation clause. So sorry.

Thank you for your comment and I completely understand your point of view as I used to share it. Regarding the more expensive homes, often an agent invests more up front money having no idea if they will ever get it back and often they are more involved in showings, while providing more expensive open house events etc... But, yes, I agree that agent percentages should adjust a bit for higher priced homes. Not sure that will ever happen though because agents work hard for lots of people that never close a transaction and sometimes it takes a higher priced commission to stay in the business. Regarding everything else agents do, it's so much more than writing contracts. I totally get that's hard to understand though. Consider my video "Buying a House Without a Realtor? Here's How From a Realtor in 2024" ruclips.net/video/K-J8eXp-v_I/видео.html Again, thank you for your comment.

Thank you! 😊

That's so kind, thank you! What is it that you miss in Marin so much? I'd love to know! And, you really aren't alone. I hear this all the time from those who have moved away. And, of course, with our high costs, who hasn't thought of moving away? I'd love to know your perspective. :)

@@karriehill.jd.realtor well Westlake Village in Los Angeles isn’t much cheaper! 🤣 I can’t even explain the feeling Marin gives me. I spent my entire childhood into my early teens there. I lived right above Rolling Hills Club (Bay Club now) off of San Andreas Drive. I miss that place. I was a competitive swimmer. I used to hike with my sister and dad every weekend. It was Mount Burdell, but we started it across the street from our house property and looped around to the top of San Andreas Dr. The trail starts at the end of San Andreas Dr. I miss the cows everywhere, even in our yard at times! I miss how it looks like Ireland when it’s spring there. I miss downtown Novato and breakfast at Marvin’s. Stinson Beach, Point Reyes, Muir Woods, cooler weather, the fog that rolls in as you’re going up the hill in Sausalito and almost at the Golden Gate, Italian Delite sandwiches in Novato, which is still open. I miss the best dim sum and Chinese food in the city, Golden Gate Park picnics eating bread and pate, Bodega Bay, the apple farm in Sebastopol, Cal Skate in Rohnert Park…the best skating rink ever. I miss how beautiful and tree 🌲 filled everything is there. I miss how every Fourth of July we’d go to George Lucas’s ranch in Lucas Valley. My dad worked for Lucasfilm at the time. Hundreds of people and families there with vendors, games, face painting, a lake. Best Fourth of Julys ever and by far a favorite in my childhood memories. The Cheese Factory! Now it’s Marin French Cheese. It used to smell really bad back in the day because they made the cheese there. It even smelled as you drove by! Stafford Lake. It’s a different look and feel there. It’s my hometown. I actually road tripped there a few times, but my first time since moving from there was in 2012. My old house happened to be on the market. I contacted a realtor and she took me to see it! Unreal experience. I realized I officially just wrote a novel.

Wow, thank you for that. I literally smiled reading your entire explanation - fabulous! Thank you for pointing out all the little things (and some big ones) that mean so much. Maybe you'll head back someday? Others have. But it's nice in Westlake Village too - I lived in Agoura Hills for about a year several decades ago. :) Again, thank you for your words!

Yay, that's great.

Ahhhh shucks, thank you!

So true, thank you for watching!

You're so correct. I hadn't been to Marvin's before I made that video. Been there many times since - great food and I love sitting outside with our dogs. Thanks for watching and commenting!

You're so welcome! Thank you

Thank you for chiming in and, of course, I totally agree. The public severely underestimates the importance and the work put in by buyer agents. Many buyer agents are going to struggle while listing agents start to pick up the extra unrepresented buyer fee. I think this new hidden "unrepresented buyer" fee in listing agreements will drive some future lawsuits. Thank you for watching and commenting!

You could be right and I appreciate you chiming in on the discussion! :) It will be interesting to see how it plays out. At first, I thought what you're suggesting would be the norm. But now I think it's just as likely that bad buyer agents will exit the industry leaving the good ones behind that won't drop their fees because they know they're worth it. I do think fees will go down though, but mostly because lots of new DIY buyers will choose to go unrepresented. That will likely lower many transactions to 3.5% or so. So, those unrepresented buyers will likely save about 1.5% and miss out totally on buyer agent advantages. But ignorance will be bliss for unrepresented buyers. :)

That is so kind, thank you so much!

Hey, so can the buyer agent, I know not in every deal, be paid both by the listing agent, who includes a commission to attract buyers, and the buyer who signs a representation contract? If so, why wouldn't a buyers agent not only seek those kinds of deals?

Yay, that's what I'm hoping for. :)

0:41 Before I was an agent, I'd say "totally agree!". Now that I do the job and keep stats on my transactions, I know that I often save my clients more money than the cost of my fees and I lower their risk while securing their dream home. Additionally, if I were paid $50 an hour, some clients would owe me more than my normal fees because the time required to do the job, well it's very intense. Also, agents done take home those big numbers. There are cuts to brokers, assistants, expenses. Discount opportunities are there for those who don't want full service or much representation. Of course, of we got paid $50 an hour for everyone we help, not just those who complete a transaction, that would help. IMHO, I think the only real value problem is agent pay for super high priced homes. The extra time and agent money required is less than the extra commission. Thank you so much for the comment!

Totally agree, and now diy homebuyers will likely be paying a hidden fee as an unrepresented buyer. That's the norm where I live. Thank you for the comment.

Thank you for commenting. Most realtors don't get paid unless the deal closes. As for the contracts to see a home, ask for a one day contract, non-exclusive, with 0 days continuation (covering you after the contract expires). And people should interview buyer agents, just like they interview selling agents. Best of luck, it'll be like the wild West for a while but it will weed out bad agents. Again, thank you!

Lol, thank you for watching!

Lol, thank you!

Yay! Thank you!!

Thank you so much!!

Thank you for the feedback. And, thank you for watching!

Thank you!! Have a great weekend!

Thank you! I very much appreciate that feedback on the figures. And, no one has ever mentioned doing recorded books before...interesting.

OH and Happy Belated Birthday! That's awesome!!!!!!!

Thank you, especially for the hidden fee into!

Basically, yes, very little actual change.

That is SO kind, thank you!!

Dog heaven? Yes, people love dogs here. :)

No, thank you!!😅

😂

Well it's been so long since I've said that, maybe I'll resurrect it for a few of my videos here and there. Thank you for the reminder. 😊

I'm not sure exactly which use of the word "fee" you are referring to but commission is referred to as compensation and fees. You likely know that the amount earned is not what goes in the agent's pocket. By the way, this video came before a new trend (which I will do in a later video), and that is the hidden cost of being an unrepresented buyer. Listing agents charge an extra "fee" to sellers to do some of the work a buyer agent does. Buyers without an agent won't be saving what they think they are saving. Have a great day!

Thank you Carlton, straight out of the marketing center, for a change and rest. :)

Yay!

You're welcome Patty! Thank you for watching!!

Yes, but it was a long time ago...like 2008 - 2012. I'd be happy with a balanced market. Thank you for watching!

Thank you very much!

You can call the listing agent and sign an agreement for non-representation with them. However, there is a hidden cost to that depending on the agreement between the listing agent and the home seller. Meaning that if you buy that house, you won't have representation without a buyer's agent and there is still a cost so you're not saving 2 and 1/2 or 3%.

Thank you so much!

You're welcome, thank you for watching. Sellers will only agree to pay 3% to their agent (instead of the full 6% like it was done before). Then buyer agent asks seller to pay 3% for agent fees as a part of the home offer. If seller says yes, buyer agent gets 3% if the deal closes. If the situation happened like you stated, which could only happen before the rule changes are completely in force, buyer agent would still get 3% as was laid out in the their contract and seller would no longer be obligated to pay the buyer agent brokerage because buyer agent was already paid the max they could be paid by the words in their buyer representation agreement. Seller agent would not get the extra 3% as that should have been designated to only a buyer broker. The only party that could get surprisingly stuck paying 6% would be a buyer who signed two buyer representation contracts obligating them to pay two agents. Hope that helps... :)

Oh and please consider that these scenarios may play out differently in other states. I'm in California and that's the way it likely plays out here. 😊

@@karriehill.jd.realtor Thank you again, appreciate your thorough answer. Very good. I guess a lot of wording clarification is in the new contract(s) itself as the new documents now reflect the adopted changes.

@@Katherine-mo8fl Yes, and I'll be dropping a video, likely within 2 weeks that will show those contracts for further explanation on how these new rules are all falling out and how buyers can best protect themselves. Filming it later this week.

​@@karriehill.jd.realtorthank you! Will be following your updates

I used to think the same thing. :) But, good agents can make deals happen, save clients money (even more than the cost of their service), and protect clients from future financial and emotional headaches. Still, some agents don't meet this high standard and that's why my last video laid out what individuals should be asking agents to find a good one. Did you have a bad experience with an agent? If so, what happened?