NAR Lawsuit Impact on Alabama Real Estate Market: Is Discrimination on the Rise?
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- Опубликовано: 30 сен 2024
- The ongoing NAR lawsuit has significant implications for Alabama homeowners, whether current owners, prospective buyers, or real estate investors. This proposed settlement, yet to be approved by a judge, could lead to major changes in how home buying and selling commissions are handled, specifically concerning the disclosure and uniformity of commission rates in the MLS system.
Previously, commission rates were standardized and publicly disclosed through the MLS, which helped maintain fairness and transparency. The proposed changes could end this practice, potentially leading to discriminatory commission rates where sellers could offer different commissions based on personal biases or relationships.
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Honey , what's wrong is taking $30,000 for 8 hours work.
Love how you don’t have to pay for local state and nation nar fees
This lady is crazy trying to spin this as a bad thing. Boo hoo that you cant continue your racket
So the ability to negotiate what y’all are making for selling our property is a… Bad thing? Seems like it should’ve been this way all along.
When i sold my starter home at 130k, my realtor made 6%.
When I sold my second home 3 years later at 330k, my same realtor made 6%. I received no additional or different service for the more than double payout vs my first sale.
And now the consumer is facing astronomical cost increases not only in home values, but all other home owner costs. Your rates, along with all other homeowner burdens, are rightfully in the spotlight.
No but I don’t like that the sellers agent can discriminate and change based on loan type, who their friends are etc
Fair housing is important
@@MovingtoTuscaloosa let’s not pretend that agents, title companies, inspectors, and loan officers aren’t already using the buddy system in the background of home selling/buying. I suspect you’re concerned about this, BECAUSE you know these alliances are a reality of the process. It’s just that now the advantage may tip toward the seller/buyer.
@@jjjnnn6734 I think your missing the point. If I take a listing at 7%, and 2 buyers agents call to ask commission and one Is an FHA buyer and I tell them we will pay out 1%, I still get the 6% difference. Its the FHA Consumer who now has to make up their own agents commission out of their pocket which hurts the consumer. My income does not change in these scenarios. I offer 3 commission packages that sellers can choose from based on what marketing they want done and that total amount they choose cant change once its signed.
@@MovingtoTuscaloosa That doesn’t make sense. The buyer’s agent would then come back to their client and say, “they are offering 1%, after I take my cut, you’ll be left with very little in the way of support for fees and other purchase costs”. Then the buyer, fully understanding what this all costs, gets to negotiate from a better informed position with the seller OR they look at their broker and say, “come off your costs so we can make a deal”. Again, this tips toward the advantage of the buyer/seller. I get it, this isn’t fun for the agent, inspectors, and the whole house selling middle man industry. But the environment is untenable, and home owners/buyers need relief.
@@jjjnnn6734 Correct. It doesnt make sense. Now under all this new stuff the buyer brokerage form has to be signed BEFORE they can see a home officially. That contract is not suppose to be edited or changed after its singed. Most of the time the buyer does not fully understand all the costs and questions to even ask to set them up for success. Because inventory is so low in our area we are seeing homes going close to asking price and still relatively fast so there are not a lot of room for negotiations so the buyers who are USDA, FHA And VA can get left out unfairly!
Lower their commission to 1% each for both side.... For a $500,000 @ 6% (giving %3 to each side) is $30,000.... not including the other fees to sell and inspect your home during a resell.... You get 1% and that it...
That's not discrimination. That is negotiable actions. If you act as you implied. In the long haul. You will lose customers.
Also need classes on the buyers agent getting paid
Basically nothing has changed yet. But don’t understand the big deal. We have a guy here always only doing 3%. But others use people w higher rates. Some others have always negotiated the commission
Guess the va loan has to change
Had similar experience where over phone I said 2% and he put in offer 2.5% so his client didn’t get house
Finally, an agent that doesn’t sugarcoat all of this. It is refreshing to hear. My concern are companies that will come in and use this as an opportunity and not look under the buyers best interest. There is someone in this industry in Nebraska that’s advertising to have buyers contact the listing agents and have them show them the houses and come back and for flat fee and write it up the offer? Feel like a lot of liability could arise.
Love how you don’t have to use mls