What The Realtor Rule Changes Mean for You
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- Опубликовано: 12 сен 2024
- A series of new rules have gone into effect that overhaul the way Realtors get paid to help people buy and sell their homes. In this episode, we’ll explain what prospective homebuyers and sellers need to know - and why some Realtors are worried the changes could prompt their colleagues to leave the industry.
Guest: Samantha Delouya, CNN Business Writer
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I’m not paying 15k out of pocket for someone to unlock a door for me. This is kinda ridiculous.
We don't just open a door for you buyers. We work tirelessly looking for the right house for you; we work with buyers especially first time home buyers through this nerve wrecking times; we drive around without charging a fee for gas etc; we negotiate a price when drawing that contract offer; we wait nervously with her clients for our offer to be accepted in a competitive binding war; we attend your home inspections; we help you find the right real estate lawyer and inspections; we assist you with all the questions even if possible holding your hands while you do a first time home buyer program; we don't get paid until you can finally close. A Realtors usually take a listing as a seller agent 5 or 6 percent and pays out to the buyer agent 2.5 or 3 percent of that. Buyers even with huge down down payment were not paying nothing to a their buyer agent. Some never give a card etc just collect their keys and that got their home. So if you will buy a now, now as you are saving for a down payment you just now have to include your buyer agent fees just as you have to pay out fees even before you close. Sellers who want to sell and move on will be willing to pay a buyers agents fees even if it's just a small percent.
It's theft, punishable by up to ten years in prison, per our country's Sherman Antitrust Act. Lock them up!
My equity is mine. Internet solves all. FSBO.
Realtors also know things to look out for that you don't. You don't have to hire one, but do so at your own risk.
@@ImListeningToReason Not possible for most of us (when you've already moved to your new city).
Shifting the burden of the realtor's fee potentially onto the buyer gives the seller a big profit incentive. Considering that corporations having been buying up homes by the thousands everywhere, I wonder who stands to benefit the most from this rule change 😀. In America, it's always about the money!
My realtor was all talk. She cashed in when it came to selling my larger home; and purchasing my new home. It was up to me to figure out how to find my homeowner's certificate, gather all documents, pay for the interpretation of condo board minutes, deliver keys, deliver the purchase deposit, and drive myself to viewings. So why was she collecting 15,000? What a rip-off.
Hedge funds out bidding and paying cash for vast swaths of the residential inventory so they can collude and raise rental prices needs to be illegal. That's a huge problem. Hedge funds have no business in the residential housing market. This is wrong headed because it doesn't address any underlying core problems, and is like putting a little band-aid on a gaping wound, besides.
I found my house myself. Drove around saw the century 21 sign and called a realtor. He gave me a 3K check and he got 6K for doing almost nothing. The listing agent did nothing but place a sign in front of the home and made 10k. It’s a scam. And let’s not talk about title insurance, another total scam.
Talk to lenders and see what they say about working with Realtors
The general public has no idea how much a Realtor does for the buyer. Here’s a small list to name a few.
Researches neighborhoods
Researches school districts
Researches commutes to work
Takes calls at night
Takes calls on weekends
Takes calls on vacation
Writes offers
Refers lenders if need be
Schedules home inspections
Schedules the radon test
Schedules the title 5 if applicable
Works with the attorney to prepare the Purchase and Sale Agreement
Works with the lender to ensure the loan is approved
Schedules the smoke detector certificate
All the above comes together for one specific date, the closing date.
Considering the cost of homes this is the time for a Realtor to be on the buyers side considering the price of properties today.
Not a time to be penny wise pound foolish.
Realtors are unindicted co-conspirators in the nation's largest financial crime. The history books will not look kindly upon realtors.
So says a realtor. They are not needed anymore. Home inspectors are a joke, builders build crap, title insurance is a scam. We should be able to buy a house without the whole 6% scam.
It is ridiculous to be paying 6% just to sell your home. If your home is $500,000 then you pay $30,000 of your equity to real estate agents for what? The average real estate transaction takes 10 hours to complete from listing to closing. The real estate system is broken.
Take your test and reap the benefits. It's America!
Hopefully, these new rules will drop the $30,000 down to less than $1,000. Homeowners will now finally have a chance to get a good price. It will depend on negotiation skills and our free market.
As a buyer, I plan to go unrepresented (I won't hire an agent). I buy stuff all the time without an agent. The old system forced buyers to 'hire' an agent. We were told it was free, but that was a lie. The fee paid to the buyer's agent was baked into the sale price (thus the buyer paid it).
A job that pays $3,000 an hour! Wow, sign me up!
Do you not have other options for selling? Private or commission free companies like Property guys?
Just like the potential anti price gouging policy I'm all for trying something new and elbowing it if it doesn't work, but I'm equally concerned about whether or not the ripple effect is as thought out as it can be.
There will be almost no realtors in 10 years. With the internet what could you possibly need a realtor for.
Harris Walz 2024 💙💙💙
KamTam are jokes.
Trump🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸❤️❤️❤️🇮🇱🇮🇱🇮🇱🇮🇱
@@mhall801 🤡
TranSlaytion: " Ima looooozzzerrrrr waaaaaaaaaaaaaaahhh!!!"@@mhall801
Thank you for these thoughtful tips! And for the mention in the post ❤❤❤. Look forward to creating our own tips soon.
Another law that isn't needed. In the end you'll still get the services you pay for, but now in a more chaotic info world.
Very purposeful talk.
Realtors will be fine. The amount of money we actually save home buyers is well worth Realtors fees.
False. Our free market will ensure that agent fees drop dramatically (hopefully by 80%). This SCAM is finally over.
In short: Nothing-housing will stay (and even become more) unaffordable.
Maybe I heard wrong, but I thought the federal government was talking about putting a percentage cap on what real-estate agents can charge? Up here in Canada some advertise that they charge as little as 3% and some as 5.5%.I believe you are paying for the name of the company. Very generic
Dors a buyer needs to hire a realtor? I got my home without one snd the seller's realtor lowered the commission.
No.
My friend rased her rent for her 3 room apartment from 1600 a month in 2 years to 1,900.She has or her her basement it's ok but the kitchen is 40 years old and it's not pretty.Tje heat is included but she told ye woman a teacher don't turn it up past 68 in the winter..Shes trying to get her to leave because there is another couple that wants it She said they will pay 2,300 a month.My friend does not want kids in there so she has told people in the past it was taken..She's 777 has not had a mortgage for years, gets a S.$.check and a pension.She wants toake the money to travel and doesn't care about the people who live there how hard it is to make money.She pays for heat so because it's almost doubled here in N
.H. , she keeps rasing the rent .
You know a group is too rich and powerful when they can mandate that you refer to them with a Capitol letter when you write their profession down!!! Realtor, not realtor, like it really makes a difference!
There have been flat fee ($395 or so) Listing Brokerages for 15+ years now, that offer more services for more money. This change is no fix!
Thank you.
housing shortage,?huh😕 some can't even afford the existing ones🥴
This will have a chilling effect. A simple disclosure to the buyer would have been sufficient. Now a layer of lawyers is being added. Who hasn’t figured out how to go on line and find their property? Just a cumbersome rule that will be regretted. Some brokers are already writing these agreements to state that the buyer has to pay the agent even if the deal falls through. Greediness knowns no bounds. I suggest that all language related to direct payments from buyer to agent be crossed out and the words, “at buyer’s discretion” be substituted.
🙏🏾
@@jaiswaluc Buyers can now choose to go unrepresented (not hire an agent). Like you said, we have the Internet that allows us to view properties for sale. The rest of the world operates without buyer agents. America's system was RIGGED.
the changes will hurt home buyers. They won’t be able to out their agent’s fee into their loan. This change was really stupid. .
At the time of closing the sale..All Sales Taxes and Purchase Price schould be Paid by the Buyer..the Realtor Costs Schould be Paid by the Seller and Probably Baked into the Sale Price!
Isn’t how that works now? That’s how it’s done here in 🇨🇦
Could somebody help here please ? Over in the UK we are wondering if Kamala Harris has any policies other than smiling ?
She wants to target price gouging on food. She wants to give first time home buyers $25K to help toward a down payment. Watch the upcoming debate. That’s likely when she’ll go into a little more detail about policy. But right now the voice is between democracy or dictatorship. So, I’m voting for democracy. 💙
@@Aerie925 So interfering with private business and bribery ? Is that not a crime ?
@@Aerie925she also wants a unrealized gains tax so if you sell your home and make any profits over fair market value then you pay a 25% tax on that amount plus paying state , local and federal taxes on the whole amount!! That unrealized gains tax will apply to lots of things like stocks and bonds if you make any money off of them that will be unrealized gains in your income and you will pay 25% tax on that money
@@commonsense506 you asked what were policies other than smiling. I gave you policies other than smiling 🤷🏽♀️
@@jenniferdavis8088 Seems very unfair !
Sounds like consumers don’t understand how to consumer. The commissions have always been negotiable.
No, it sounds like buyer agents are going to have to prove their worth. Not many buyers are going to fork over thousands of dollars for someone to open doors.
@@rack9458 ignorance is not always bliss
Flat free (called “discount brokers”) have always existed. They are typically lazy, don’t communicate, and have an abysmal record of selling homes successfully.
Discount brokers couldn't compete because the system was rigged against them. The Realtors would steer their buyers away from their homes, because the buyer agents would get a lower commission. This discrimination against discount brokers will now end.
@@larryjones9773 Since 2008, buyers picked the homes they wanted to see.
VOTE BLUE 💙 NO MATTER WHO 💙
Only fools vote blue.
❤❤❤❤❤❤❤❤❤
You are the problem
…Yes, Let’s Price Fix and Turn the USA into a communist nation, yah!! …
@@mr.m4853 Kek, meet your Orange leader, kak!
Yeah, I'm sure that'll work out just like Biden, LMFAO! The only good thing about this admin is the fact that they've screwed everything up so bad, it got all us disabled military and social security members big hikes in our pay that can't be lowered when Republicans make things better. We're going to be doing amazing, lol.
no one is talking about the the 30 to 40% fees of attorneys.
You sound like my father who was homesteading in the 70's. I really wish the homestead community was less about fear.
With the initially stated concern that the commission being a percentage based on the sales price of the home was driving agents to find and push higher priced homes to buyers, how is continuing to operate on a percentage of the sales price going to change anything regardless of who is paying it. A flat fee based on time period or number of homes shown seems much more logical.
Under these new rules and our free market, I suspect flat fee agent fees will become the norm. The old process was rigged from beginning to end.
स्वर्गकाे नियम परमेश्वरकाे सत्यको समय आज मिति : २ साल/४ महिना भदौ/१०गते १ बार सनिवार।
दुई हजार बर्ष अगाडि इज्राएलमा जन्मिनु भएको येशू अहिले नेपाल देशमा जन्मिनु भएको छ।अहिलेकाे नाम बाईजन अर्लि हाे।उहाले पृथ्वीकाे ७ नामलाई भष्म गराउनु भएर अहिले पृथ्वीकाे नाम बाईजन हाे।र बाईजनमा भएको मन्त्र ओम मन्त्र महादेव पार्वती भगवान् बनबाेक्सी मन्त्र पृथ्वीमा भएको हरेक धर्महरु।हिन्दु सनातन बाैध्दिष्ठ क्रिस्चियन मुस्लिम धर्म सुन्यसया क्याथाेर्लिक धर्महरु भष्म गराउनु भएर दया धर्म बनाउनु भयाे।अबको सत्यको समयमा मान्ने धर्म दया हाे।दया भनेको शान्ति हाे।शान्ति भनेको स्वतन्त्र हाे।स्वतन्त्र भनेकाे आफ्नो खुसीले बच्नु हाे।कसैको करकापले हाेइन।याे धर्म मान्नेहरुकाे नागरिकता हुदैन।पासपोर्ट हुदैन।जग्गाको लालपुर्जा हुदैन।याे धर्मको नियम अनुसार सिङ्गो पृथ्वी बाईजन भयो।बाईजनमा ७ वटा अञ्चल हुन्छ।७ वटा अञ्चल भनेको ७ वटा बाईजनर हाे।७ वटा बाईजनर भनेको यसमा ७ वटा राजा हुन्छ।त्यसको प्रमुख माहाराजा बाईजन अर्लि हुनुहुन्छ।७ राजाको नामहरु।(१) यामबिना बाईजनर राजा(२)मत्ती बाईजनर राजा (३) रस्नी बाईजन राजा (४) पेरिना बाईजनर राजा(५) बिपियान बाईजनर राजा(६) अन्पी बाईजनर राजा (७) स्थिर बाइजनर राजा।उहाँहरुको माहाराजा बाईजन अर्लि हुनुहुन्छ।पहिला इज्राएलमा येशू भएर जन्मिनुहुदा सिङ्गो बाईजन र स्वर्गकाे माहाराजा हुनुहुन्थ्यो।अहिले पनि ७ स्वर्ग र बाईजनमा उहाँले हुकुम आदेश गर्नुहुन्छ।पहिला पनि स्वर्ग र संसारमा हुकुम आदेश गर्नुहुन्थ्याे।(१)पहिलाको मर्कुस अहिलेकाे यामबिना बाहानी हाे।(२)पहिलाको मत्ति अहिलेको मत्ति बाहानी हाे।(३)पहिलेकाे यूहन्ना अहिलेको रस्नी बाहानी हाे।(४)पहिलाको प्रेरित अहिलेको पेरिना बाहानी हाे।(५)पहिलाको लुका अहिलेकाे बिपियान बाहानी हाे। (६)पहिलाको येहाेशू अहिलेकाे अन्पी बाहानी।(७)पहिलाको माेशा अहिलेकाे स्थिर बाहानी हाे।यिनिहरु पहिलेकाे जन्ममा पुरुष थियो।अहिलेको जन्ममा नारी हाे।त्यसकारणले पहिलाको जन्म अनुसार यिनिहरु ७ बाईजनर काे राजा हाे।अहिले नारि भएतापनि यिनिहरुलाई परमेश्वरकाे नियम अनुसार राजा भन्नुपर्छ।सत्यको समयमा नारी राजा हुनसक्दैन।पहिलाकाे जन्ममा पुरुष भएको हुनाले अहिले सत्यको समयमा परमेश्वरकाे नियम अनुसार राजा भएको हाे।श्री ७ काे सरकार स्वर्गकाे परमेश्वरकाे पुत्र माहाराजा बाईजन अर्लि ले हुकुम गर्छु जसले सत्यको राजाको हुकुम मान्दैन भष्मै हुन्छ।
Instead or giving the lands to private investors; the governments should build the housing themselves and offer lower rents and much lower price afforable housing for sale. That is how we can help with affordable housing than allowing some private individuals renting their property and selling by jacking their prices up. I am a New Jersey Realtors and that sucks for my clients who in most case are low income, middle class and cannot afford these prices😊
If you think they are expensive now, wait until the government tries building homes!😂😂 Billions of dollars to build 8 EV chargers!
They should have left well enough alone. The system was fair and worked to everyone’s satisfaction for decades.
If some sellers decided to offer more commission (ie taking less profit in order to attract more interest), that was not wrong in a capitalist economy.
Why can’t they just leave what’s been working alone. 😢
Cause it's about power and control over the people I believe, that and also everyone thinks they can do better than the last one who was in office.
Good
🤣🤣😂Who are the experts? I need to tell them something.
No realtors for me
I saw sanctions imposed on Korea and Czech nuclear power plant order relations for several days.
Did you know it?
Korean lawmakers, criminals, media outlets, and companies must pay for the advertising ideas I planned. They all held hands.
What will they do? In order to erase the crime, there is a high probability that you will convey to Trump what you are seeing, either through Japan or somewhere else.
What did they choose since sanctions were imposed on Korean diplomacy?
It was decided to hold a trial in two weeks for a Korean member of the National Assembly who should go to prison like Trump.
What people who support Trump are afraid of is going to prison.
I don't think that's a good choice.
Harris. I was weak. But I'm getting stronger.
Harris will need to demonstrate her problem-solving and debating skills before she can demonstrate her beliefs to the American people and the world before the debate contest with Trump.
"ولو كانت سونيتى من هؤلاء الجماعة الذين يقولون الموت لمن يأكل طعاما قيمتة أقل من رقم ما دولار فأننى كنت سأسلقها في قِدرها"عم دهب ، أ بعد كل الأدعاء بالزهد والنزاهة الذي كنتى تدّعينة في ديانة السحر يا سونيا تقولين أن الناس الذين يأكلون طعاما آخر غير الساندوتش 🍔 غير مكرّمين بالنسبة لكى ؟؟ فوحق "ذهوبة" لأعطينكى المقام الملائم على تعليقات أحد الصفحات الأخبارية التيك آواي 🍗🏬 (يعنى أمام كثير من الناس)
Answer: The Real Estate mafia will no longer extort sellers. Case closed.
FREE AT LAST, FREE AT LAST, THANK GOD ALMIGHT, WE ARE FREE AT LAST. I'm a class member in Burnett v. NAR et al (GUILTY on all counts, per the unanimous jury verdict).
Rodriguez William Thomas Sharon Davis Helen
What thing 😂?
Thé question is what those réaltor changes etc meen for the ones who chose to be crooks.
????
Let's just hope it doesn't affect our American patriot values 🇲🇾
Let's just Hope it doesn't affect our american patriot values 🇲🇾
@@EvaKaku well said 🇱🇷
Trump2024 America 🇺🇸 First
tRump4Prison 2024! Your dorito-p*do is freaking out rn and it's so funny.
It means everyone should vote TRUMP 🇺🇸
This was a law suit.
Trump🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸
@@mhall801 🤡
Great video, A month ago, my five-year relationship came to an end. I really can't stop thinking about the love of my life, who made the decision to leave me. I've done everything in my power to win him back, but it's all in vain, and I can't imagine my life with anyone else. I genuinely miss him and just can't stop thinking about him, even though I've tried my hardest to stop thinking about him. I'm not sure why I'm saying this here.
Bad news for the industry as a whole. Good news for zillow and their like. You offer peanuts for pay... you will get monkeys
*…LET’s DO this for EVERY BUSINESS:
1), I want to know how much profit my car repair business is making.
2), I want to know how much money politicians are putting in their pocket like Nanchee Poliski who is now a millionaire, every time she passes a bill
3), I want to know how many millions the extremists on the Supreme Court are paid for voting against the American people.
Let's hope that the world's economy will worsen a lot. Let's hope that economic indicators like GDP consumer sentiment and PMI will all point to recession. This will be enough to motivate the Federal Reserve to lower interest rates prompt enough.
The problem is not high interest rates but high home prices. A drop in rates will not matter that much but a drop in home prices will.
Trump/Vance 2024
Why would anyone vote for Kamala Harris for President when her record and achievements over the past 3.5 years is abysmal ..Insanity is making the same mistake over and over again hoping for a different result
@@FactsMatter-wh7rr Frump the Don the Con Convicted 34 count Felon; Project 2025; Look it Up; is the abysmal, insanity one and man I can't wait for us to Abyss that Devil. Voting Blue up and down the Ballot
How’s the weather in Moscow today? Just curious….
By your logic why vote for Trump.
@@rigger49er
Promises MADE promises KEPT
@@FactsMatter-wh7rr he destroyed the economy with his lockdowns. He created the jab. He didn’t build the wall and Mexico didn’t pay for it. He didn’t stop or solve the immigration crisis. He didn’t solve healthcare or an infrastructure bill. What promises did he keep? I’ll wait
Hitting Realtors. How about taxing govt workers and retirees especially politicians and teachers? They’ve been riding the welfare bus for years.