NAR Settlement | END OF 6% | Buyer Agent Commissions
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- Опубликовано: 1 апр 2024
- What's REALLY happening in real estate commissions, particularly the Buyer Agent Commission (BAC)? With the recent NAR settlement looming large, the landscape of real estate transactions is undergoing a transformation, and headlines about "the end of 6% commission" are running wild. But what's the real story?
Join us as we break down the implications of these changes for both buyers and sellers. We'll explore how these changes could impact market, buyer representation, and negotiation strategies. Also, let me correct misleading headlines scattering around major media outlets about what the NAR Settlement does and doesn't do. Stay put and listen clearly as I clarify these news headlines about the current situation of real estate industry,
Whether you're a seasoned real estate professional or a curious homeowner, this discussion is essential for understanding the future of real estate commissions. Stay informed, stay ahead. Watch now and be part of the conversation shaping the future of real estate commissions. Don't forget to like, share, and subscribe for more insightful real estate contents!
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Lydia Rowe is a Realtor® in Tipp City, Ohio. (Northern Dayton, Ohio)
Feel free to reach out to me at lydia@listwithlydia or 937-867-1612 if you are looking at buying or selling in Ohio, or would like a referral for another area.
Brokerage: NavX Realty
License number: 2022000499
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NEWS referenced:
• Settlement eliminates ...
• Real estate attorney t...
TRUTH about settlement:
www.nar.realtor/magazine/real...
www.nar.realtor/newsroom/corr...
Headlines found here:
www.cnn.com/2024/03/15/econom...
www.nytimes.com/2024/03/15/re....
abcnews.go.com/US/wireStory/r....
www.fox26houston.com/news/bye...
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TYSM Lynda.... I was confused about this and I appreciate you clearing this up.
Wow thanks! Glad it was helpful!
Ive never had a buyers agent offer to do any of what you mentioned. They are literally along for the ride and that sweet commission check at closing.
wow I’m sorry this has been your experience. maybe this is one of the reasons for these changes? listings have always required contracts between seller and agent and the agent explains what they will do to sell the house, now that you need a buyers agency agreement to represent a buyer maybe our profession as a whole will do better at explaining (and performing) those things?
Excellent analysis
Thanks for your feedback!
I was under the impression that traditionally commission fees were paid buy the seller and not the buyer unless stipulated otherwise in the contract.
Yes, sellers and listing agents have buffered in the cost of both commissions traditionally into the sales price, that way although the buyer is ultimately paying for both (since they are paying the sales price), the buyer doesn't need to come up with that money out of pocket on top of their loan closing costs and down payment. If a seller or listing agent doesn't build that into the price, and only build the listing agent commission into the price....then the buyer needs to come up with money out of pocket to pay their buyer's agent if they have one, or represent themselves (which is risky)...in either case the buyer or buyer's agent would want to negotiate a discount on the sales price unless they already have it priced lower since sales price comparisons will use houses that include both commissions.
@@listwithlydia Explained perfectly!
@@listwithlydia This is the TLDR of this video.....lol.
Bout time
Thanks for watching and commenting!
Should be 0% honestly in my market realtors do nothing, people line up to buy homes if there are any to buy 6:31 lol you’re explaining how they do stuff that a intelligent buyer is and should be doing themselves…. lol free work what’s 2% of 750k do the math way overpaid for what this profession does its garbage
Thanks for your feedback. There's always going to be folks who want to do it themselves and I have no problem with that....both for selling and buying...but if a buyer wants to be represented, clarity in how & what an agent will be paid is important to all parties.