Dear TV News, Please STOP interviewing Real Estate Agents for these news stories. They are NOT revealing everything about these transactions. For example, my friend is selling a house, and they hired a lawyer who charges a $1800 Flat Fee to handle all the paperwork (where's a sellers agent, for his $400,000 house, would charge 3% = $12,000
This.. I heard a RE agent claim attorneys don't know what they are doing and understand real estate law, comical that RE agents act like they "are" lawyers
EXACTLY. People have been fooled into thinking you *need* an agent. Some people do - some people don’t know the market, don’t have any idea what to ask, can’t access the internet for comps, etc. There is a very small % of people who need this service. The rest of us can visit an open house and make an offer via lawyer without some dirtbag former hairstylist-turned-realtor who wants to talk my ear off and charge me 3% to open a door. Knowledgeable buyers and sellers have been doing this for years, just cut the useless agents out and keep the 6%.
Real Estate agents selling a house do more than "paperwork". They advertise your house, do open houses and can "stage" the home, field the inquiries, arrange for inspections or contractors to make any repairs required, and handle the negotiations with buyers. If you are willing to do all this yourself, then I guess hiring a lawyer is the better deal. And no, I'm not a realtor, I've just bought and sold houses.
@@sneat2028 perfectly logical to expect a person visiting a home to leave their name (write a fake one if you want). this is a much better alternative than having armies of broke realtors lying and conning people into believing they have no choice but to hire them to represent them. This is very clear now - you don’t need a realtor to buy or sell a house, period. So what that you gotta write “max jenkins” on a sign in sheet at the door lol realtors made you do that anyway, then proceeded to tell you you had to work with them and give them 3%. Now you can say “hi I’m max I’m here to see the house I am my own agent, get out of my way now doorknob-turner I’m here for the house not your sales pitch”
@@sneat2028 facts. Homeowners may be able to keep more. Why would a homeowner reduce a price for the fun of it? It will continue to be a market on what a buyer is willing to pay which given our Deep structural limitation to build homes will be like this for a long time.
Homeowners should have access to the MLS. This will be the next legal hurdle. One of us needs to file this lawsuit. THE MLS SHOULD BE OPEN ACCESS TO ALL!!!
Good luck getting offers in the property you are selling. Realtors pays their brokerage who hires lawyers to protect you. If there’s an issue on property you sold then what? Buyers can go after you. Yoh pay for service and I swear people think they know it all.
@@jayzfelony Us Missouri homeowners charged your industry with fraud. The Kansas City jury voted GUILTY, on all accounts. I'm a class member in the Missouri case.
Correct. Now when a buyer makes an offer they have no idea if their agent is receiving compensation or if they will be on the hook for it, making houses they used to be able to afford out of reach. It will be particularly difficult on first time home buyers.
oh so now that you've done that, FOCUS on making the rest of the Bay Area affordable most people who live here cannot afford to buy so this news is for the 1% who can...
@@MH_6160lol what???? You must be a realtor, typical grifter response. “yeah um the law now means umm you just give us money no matter what, k?” What this law means is that grifter thief realtors who do nothing but get in your way 99% of the time and offer no value, well those realtors can’t say “you need an agent and by the way that’s me, so sign here and guarantee me my 3% or you can’t see a house you can’t even talk to the sellers realtor, not without me, so gimme that 3%”. No more. Gone. You can see a house without a realtor. You can place an offer without a realtor. You can buy a house - without a realtor. That’s what this law means and it’s a long time coming. Again, grifter realtors want to make sure people don’t know this. They want to twist this law into something for their benefit, because that’s all they know how to do. When in fact, this law represents consumers, represents the people, who have been victimized by real estate agents stealing 3-6%+ commissions for decades. Their time is over. You can buy and sell using just an attorney who charges a flat cheap rate of 1-2k and you’re good to go. The overwhelming majority of the public does not need a realtor to buy or sell their house. Your grift is over. It’s time to get a real job, time to contribute to the world positively, your free money run is over grifters!!! 🎉🎉🎉
@@zz-.-do you know that this has always been negotiable???? IN THEORY THE PEOPLE TRULY AFFECTED BY THIS ARE THE FIRST TIME HOMEBUYERS IT WOULD BE MORE EXPENSIVE TO THEM NOW. DO YOU NOT SEE THAT???? 🤦🏻♂️🤦🏻♂️🤦🏻♂️
@@MH_6160 why do you think you can trust an attorney? Why hace you used an attorney before? I have I never talked to him his assistant and receptionist knew more about my case then him. Your just talking just to talk with no knowledge
They may not be compensated because a buyer's agent can carry it almost all the way to the end of the deal and the buyer can dump their agent or the buyer's agent commissions become a part of the purchase contract, which means it can be negotiated down or out
You don't need an agent for open houses. Also contact the seller if you want to see the house. I see this new deal not working out too well because buyers are already paying to much and now they will have to pay more. This can hurt both sides. The buyer who may not be qualified for enough now and sellers who may not be able to sell.
The home prices aren't gonna drop 3% to offset the buyer's cost. The house is going to cost the same except that now the buyer has to fork out $$$ for their agent. Wonderful. 🐌👏🏻
Ummm, no change. Still a 6% total commission fee to split between 2 agents and their brokers. So, ya. It's ALWAYS been a negotiated percent and who can pay it. But, thanks for more red tape and unnecessary contract paperwork to sign, just to SEE a house. 🤦 The Future should just be a Fixed professional fee. But, ya.
I don’t see a lot of value in using a real estate agent to buy a home. Selling, yes. All these listings and information are available online. Some that aren’t are behind a paywall like MLS. These structures have been in effect for years and will need to undergo changes.
@@jaycho6747 You do not need a buyer's agent for that, buyer can directly contact the seller's agent to get the disclosures. realtors are not that important.,
Correct. This was the point of the litigation. Buyer's agents will go (nearly) extinct. The rest of the world doesn't have a rigged system and they rarely use buyer's agents. People buy cars all the time without a buyer's agent. A house isn't much different.
So the Sellers, older people, who already have wealth and power, now have more leverage against buyers, younger people without wealth and power. That’s interesting.
New system will bring more online automated systems for buyers. That will drop buyer 3%. As the buyer commissions will drop, seller’s 3% will also go tru a downfall to match.
The reporter’s last sentence makes it sound like buying agents were doing their work for free for the last 100 years. Come on now. Buying agents have always been making 3% because the selling agent shared half of their 6% commission on every sale with the buying agent. The new rule just makes it more transparent and selling agents no longer share their commissions. Buyers pay agents 2-3% and sellers pay agents 2-3%. It’s essentially a wash (I.e., it’s still a racket).
No the buyer doesn’t win nor the seller = just the greedy attorneys who brought the case These fees will only shift in other categories for both the seller and buyer
The realtors don't care. They are high pressure salesmen that want those commissions and they won't accept less than 4%. They are also often both listing and buyers agents gobbling up the whole commission, which starts at 50k per home in California.
I never thought a $500,000 property could have such an impact! Seeing a video titled "This $500,000 Property Will Crash London's Real Estate Market." is incredible.
There is a lie in the reporting. Sellers have always had a choice of what if any compensation will be offered. Nothing has changed as far as the negotiating abilities of the seller. It also destroys transparency in what costs will be required for the buyer to pay before they make offers. It's all negative especially on buyers.
This really doesn’t benefit the consumer on either end. It does benefit real estate companies/agencies, agents, and investors as they will always have the upper hand. More sleight of hand nonsense & econmic confusion. But, redlining/convenants are still very much legal, so there’s that. 🙄
EXACTLY BUT PEOPLE ARE JUST ATTACKING THE AGENTS SAYING YES YES GOOD 😂😂😂😂 I DONT THINK THEY UNDERSTAND THAT THIS EFFECTS BUYERS IT WOULD JUST BE MORE EXPENSIVE. AGENTS WONT LOOSE COMMISSIONS 🤦🏻♂️
Buyers & Sellers will set the tone now for what they will pay......simple as that. Not a percentage of 6% or 5% or whatever percentage. It can be a simple flat fee....take it or leave it. ❤❤❤❤❤❤❤❤ 2:31
It’s all bull Sh!t! One Agent messes up in lil town and a nationwide of Agents have to suffer The Buyers have always had a choice on their home with looking at Open Houses and signs and Zillow and Redfin etc. NAR is full of crap. So now they say Buyers to pay Agents which in FACT! The Buyers always paid the Commission because the Seller can’t pay commission without the BUYER buying & getting a loan to BUY the HOUSE!!! I’m furious as you can see
Can't we just avoid real estate agents and make it simple and straightforward? Why real estate agents need to handle paper work? Why people just can't negotiate a deal?
How about banning Airbnb’s, multiple purchases, and corporate & foreign real estate investors? California home to the most populated with the lowest percentage of home ownership in the US.
That Farmland is also in the middle of CA down I5 where nobody lives . So what’s your point? Developers can buy the land and try to rezone it but since not a lot of people want to live out there as of yet wouldn’t be a good investment for the developers.
@@sanderdegurra9002 I believe just has to go through local planning commission. Then you would still have to convince people to move out that way. So it’s a big gamble for investors.
I'm eagerly anticipating a potential housing crisis to make affordable purchases after selling some properties in 2025. I'm also thinking about investing in stocks as a backup plan. Any advice on the best timing for these investments? I've seen substantial trading profits, but there are worries about the market's instability and the possibility of a dead cat bounce. Can you explain why this market phenomenon happens?
You're not making mistakes; you just don't have the know-how to profit in a tough market. In such challenging times, only highly experienced individuals who went through the 2008 financial crisis can anticipate making significant profits.
Desiree Ruth Hoffman, my CFA, is well-respected in her field. I suggest delving deeper into her qualifications. With her extensive experience, she serves as an invaluable asset for those seeking guidance in the financial market.
A dying industry trying to make sure they get paid; when realistically you can have an agreement with the owner and buyer. And deal with everything on paper with just an escrow company lol 😂
Thanks for the informative video,your information is incredible, however, knowing that everything related to investing. I advise traders, especially beginners, to research the market before entering it.I have to say there are more benefits to trading than just holding. Big thanks to Evelyn's Infurna who always keeps me updated. I am so glad I started her program.
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Dear TV News, Please STOP interviewing Real Estate Agents for these news stories. They are NOT revealing everything about these transactions. For example, my friend is selling a house, and they hired a lawyer who charges a $1800 Flat Fee to handle all the paperwork (where's a sellers agent, for his $400,000 house, would charge 3% = $12,000
This.. I heard a RE agent claim attorneys don't know what they are doing and understand real estate law, comical that RE agents act like they "are" lawyers
That has absolutely nothing to do with this change. That has existed forever.
Does the lawyer also help to market the house?
EXACTLY. People have been fooled into thinking you *need* an agent. Some people do - some people don’t know the market, don’t have any idea what to ask, can’t access the internet for comps, etc. There is a very small % of people who need this service. The rest of us can visit an open house and make an offer via lawyer without some dirtbag former hairstylist-turned-realtor who wants to talk my ear off and charge me 3% to open a door. Knowledgeable buyers and sellers have been doing this for years, just cut the useless agents out and keep the 6%.
Real Estate agents selling a house do more than "paperwork". They advertise your house, do open houses and can "stage" the home, field the inquiries, arrange for inspections or contractors to make any repairs required, and handle the negotiations with buyers. If you are willing to do all this yourself, then I guess hiring a lawyer is the better deal. And no, I'm not a realtor, I've just bought and sold houses.
This hurts the buyer, and the idea of having to sign in during a home viewing is ridiculous.
@@sneat2028 perfectly logical to expect a person visiting a home to leave their name (write a fake one if you want). this is a much better alternative than having armies of broke realtors lying and conning people into believing they have no choice but to hire them to represent them. This is very clear now - you don’t need a realtor to buy or sell a house, period. So what that you gotta write “max jenkins” on a sign in sheet at the door lol realtors made you do that anyway, then proceeded to tell you you had to work with them and give them 3%. Now you can say “hi I’m max I’m here to see the house I am my own agent, get out of my way now doorknob-turner I’m here for the house not your sales pitch”
You can still go to open houses without an agent, you need a contact while putting in an offer.
Why
@@567307then who’s protecting you without an agent? Properties with issues and all. Why would you listen to agents representing the seller?
@@sneat2028 facts. Homeowners may be able to keep more. Why would a homeowner reduce a price for the fun of it? It will continue to be a market on what a buyer is willing to pay which given our Deep structural limitation to build homes will be like this for a long time.
About time. Fees are too high. It should be 1% max. Process should be easier. So people can sell themselves
Homeowners should have access to the MLS. This will be the next legal hurdle. One of us needs to file this lawsuit. THE MLS SHOULD BE OPEN ACCESS TO ALL!!!
Good luck getting offers in the property you are selling. Realtors pays their brokerage who hires lawyers to protect you. If there’s an issue on property you sold then what? Buyers can go after you. Yoh pay for service and I swear people think they know it all.
@@larryjones9773you also have to pay for mls like what realtors do. I’m sure you can get access if you pay for it.
@@jayzfelony Us Missouri homeowners charged your industry with fraud. The Kansas City jury voted GUILTY, on all accounts. I'm a class member in the Missouri case.
@@jayzfelony funny you just describe the exact problem of realtors.. it is rigged. you are suppose to hire your own lawyers.
the conclusion is buyer pay more, higher inflation and eventually high rent.
Hopefully sellers reduce the price as they don’t have to pay buyer agent
@@sandeepkumar-ke9cgnope hahahhahaha
You always pay the market price one way or another, doesn’t change anything.
Correct. Now when a buyer makes an offer they have no idea if their agent is receiving compensation or if they will be on the hook for it, making houses they used to be able to afford out of reach. It will be particularly difficult on first time home buyers.
oh so now that you've done that, FOCUS on making the rest of the Bay Area affordable most people who live here cannot afford to buy so this news is for the 1% who can...
sounds like a benefit for seller, seller's agent and buyer's agent, what about buyer?
You and I as buyer got screwed😂
Buyers got screw .. sellersegent and buyers egent are winner…
What does this mean to a buyer?
You have to pay up front to the agent if you are a buyer…. unless you go directly to the sellers agent.
@@MH_6160lol what???? You must be a realtor, typical grifter response. “yeah um the law now means umm you just give us money no matter what, k?”
What this law means is that grifter thief realtors who do nothing but get in your way 99% of the time and offer no value, well those realtors can’t say “you need an agent and by the way that’s me, so sign here and guarantee me my 3% or you can’t see a house you can’t even talk to the sellers realtor, not without me, so gimme that 3%”. No more. Gone. You can see a house without a realtor. You can place an offer without a realtor. You can buy a house - without a realtor. That’s what this law means and it’s a long time coming.
Again, grifter realtors want to make sure people don’t know this. They want to twist this law into something for their benefit, because that’s all they know how to do. When in fact, this law represents consumers, represents the people, who have been victimized by real estate agents stealing 3-6%+ commissions for decades. Their time is over. You can buy and sell using just an attorney who charges a flat cheap rate of 1-2k and you’re good to go.
The overwhelming majority of the public does not need a realtor to buy or sell their house. Your grift is over. It’s time to get a real job, time to contribute to the world positively, your free money run is over grifters!!! 🎉🎉🎉
@@MH_6160Wrong! There are no upfront fees, not to mention, it's illegal.
More EXPENSIVE
@@zz-.-do you know that this has always been negotiable???? IN THEORY THE PEOPLE TRULY AFFECTED BY THIS ARE THE FIRST TIME HOMEBUYERS IT WOULD BE MORE EXPENSIVE TO THEM NOW. DO YOU NOT SEE THAT???? 🤦🏻♂️🤦🏻♂️🤦🏻♂️
So get my real-estate license and go get my house...🤔
Or hire a real estate attorney to look over your deal…
@@MH_6160 why do you think you can trust an attorney? Why hace you used an attorney before? I have I never talked to him his assistant and receptionist knew more about my case then him. Your just talking just to talk with no knowledge
And most Buyers cannot afford to pay their own broker
They may not be compensated because a buyer's agent can carry it almost all the way to the end of the deal and the buyer can dump their agent or the buyer's agent commissions become a part of the purchase contract, which means it can be negotiated down or out
So you have to sign a contract before you walk through.
you can still go to open houses with out an agent, you need a contact while putting an offer.
You don't need an agent for open houses. Also contact the seller if you want to see the house. I see this new deal not working out too well because buyers are already paying to much and now they will have to pay more. This can hurt both sides. The buyer who may not be qualified for enough now and sellers who may not be able to sell.
@@coolartps it's not that complicated the way you are exaggerating lol
The home prices aren't gonna drop 3% to offset the buyer's cost. The house is going to cost the same except that now the buyer has to fork out $$$ for their agent. Wonderful. 🐌👏🏻
Only if a seller chooses not to offer the fee
Choose another property if the seller does not want to. Make their property sit longer and value goes down. Dont support the movement.
Ummm, no change. Still a 6% total commission fee to split between 2 agents and their brokers. So, ya. It's ALWAYS been a negotiated percent and who can pay it. But, thanks for more red tape and unnecessary contract paperwork to sign, just to SEE a house. 🤦 The Future should just be a Fixed professional fee. But, ya.
You can still go to open houses without an agent, you need a contact while putting in an offer.
I don’t see a lot of value in using a real estate agent to buy a home. Selling, yes.
All these listings and information are available online. Some that aren’t are behind a paywall like MLS. These structures have been in effect for years and will need to undergo changes.
You’ve never went through disclosures?
@@jaycho6747 You do not need a buyer's agent for that, buyer can directly contact the seller's agent to get the disclosures. realtors are not that important.,
Correct. This was the point of the litigation. Buyer's agents will go (nearly) extinct. The rest of the world doesn't have a rigged system and they rarely use buyer's agents. People buy cars all the time without a buyer's agent. A house isn't much different.
@@jaycho6747 you can either read that or get a summary by copy pasting at CHAT GPT. Yes, there will be risk. But NOT WORTH the 3% commission.
@@jaycho6747 You can still go to open houses without an agent, you need a contact while putting in an offer.
So the Sellers, older people, who already have wealth and power, now have more leverage against buyers, younger people without wealth and power. That’s interesting.
What law numbers are these... I know one of them is sb478. What's the one where buyers have to sign an agreement with the buyers agent.
New system will bring more online automated systems for buyers. That will drop buyer 3%. As the buyer commissions will drop, seller’s 3% will also go tru a downfall to match.
The reporter’s last sentence makes it sound like buying agents were doing their work for free for the last 100 years. Come on now. Buying agents have always been making 3% because the selling agent shared half of their 6% commission on every sale with the buying agent.
The new rule just makes it more transparent and selling agents no longer share their commissions. Buyers pay agents 2-3% and sellers pay agents 2-3%. It’s essentially a wash (I.e., it’s still a racket).
No the buyer doesn’t win nor the seller = just the greedy attorneys who brought the case
These fees will only shift in other categories for both the seller and buyer
The realtors don't care. They are high pressure salesmen that want those commissions and they won't accept less than 4%. They are also often both listing and buyers agents gobbling up the whole commission, which starts at 50k per home in California.
I never thought a $500,000 property could have such an impact! Seeing a video titled "This $500,000 Property Will Crash London's Real Estate Market." is incredible.
It's always been the seller that makes the commission to the buyer broker
Time to get that real estate license.
There is a lie in the reporting. Sellers have always had a choice of what if any compensation will be offered. Nothing has changed as far as the negotiating abilities of the seller. It also destroys transparency in what costs will be required for the buyer to pay before they make offers. It's all negative especially on buyers.
This really doesn’t benefit the consumer on either end. It does benefit real estate companies/agencies, agents, and investors as they will always have the upper hand. More sleight of hand nonsense & econmic confusion. But, redlining/convenants are still very much legal, so there’s that. 🙄
EXACTLY BUT PEOPLE ARE JUST ATTACKING THE AGENTS SAYING YES YES GOOD 😂😂😂😂 I DONT THINK THEY UNDERSTAND THAT THIS EFFECTS BUYERS IT WOULD JUST BE MORE EXPENSIVE. AGENTS WONT LOOSE COMMISSIONS 🤦🏻♂️
@@cesartrujillo8813😂😂😂😂😂😂😂😂😂😂ok
Buyers & Sellers will set the tone now for what they will pay......simple as that. Not a percentage of 6% or 5% or whatever percentage. It can be a simple flat fee....take it or leave it. ❤❤❤❤❤❤❤❤ 2:31
So ridiculous. I don't think these rules will last long. Buyers were screwed with high prices and now they are screwed even more. Happy buying.
It’s all bull Sh!t! One Agent messes up in lil town and a nationwide of Agents have to suffer The Buyers have always had a choice on their home with looking at Open Houses and signs and Zillow and Redfin etc. NAR is full of crap. So now they say Buyers to pay Agents which in FACT! The Buyers always paid the Commission because the Seller can’t pay commission without the BUYER buying & getting a loan to BUY the HOUSE!!! I’m furious as you can see
The sellers paid both agents. Pull your head out! Buyer agents are done! A buyer is much better represented by a Real Estate Atty for far less money.
Its called "how, as a middle-man, can I make the most money?"
Can't we just avoid real estate agents and make it simple and straightforward? Why real estate agents need to handle paper work? Why people just can't negotiate a deal?
is correct confusion good luck getting a house!!! It will be harder for buyers
How about banning Airbnb’s, multiple purchases, and corporate & foreign real estate investors? California home to the most populated with the lowest percentage of home ownership in the US.
The demand is artificially inflated in CA because the majority of land are marked as farmland and are not allowed to build houses.
But is it really being used as farmland?
@@khantra4568 Well all I can say is when I drive by these “farm lands” nothing is growing on them.
That Farmland is also in the middle of CA down I5 where nobody lives . So what’s your point? Developers can buy the land and try to rezone it but since not a lot of people want to live out there as of yet wouldn’t be a good investment for the developers.
@@jw4052 I heard re-zoning is extremely difficult and has to go through legislation.
@@sanderdegurra9002 I believe just has to go through local planning commission. Then you would still have to convince people to move out that way. So it’s a big gamble for investors.
They trying to rip people off
Give them $2.
Hallelujah its ABOUT FLIPPING TIME!!!!!!!
I'm eagerly anticipating a potential housing crisis to make affordable purchases after selling some properties in 2025. I'm also thinking about investing in stocks as a backup plan. Any advice on the best timing for these investments? I've seen substantial trading profits, but there are worries about the market's instability and the possibility of a dead cat bounce. Can you explain why this market phenomenon happens?
You're not making mistakes; you just don't have the know-how to profit in a tough market. In such challenging times, only highly experienced individuals who went through the 2008 financial crisis can anticipate making significant profits.
Desiree Ruth Hoffman, my CFA, is well-respected in her field. I suggest delving deeper into her qualifications. With her extensive experience, she serves as an invaluable asset for those seeking guidance in the financial market.
This is a joke. Commissions HAVE ALWAYS BEEN Negociated
The market will crash 😮
I hope it does. 😂
I'm thinking that too. Give it some time. People on all sides will get frustrated and they will have to go in and rewrite new laws to help the buyers.
That’s why I’m going to law school. Give me your money!!!
What a mess?
Transparency laws are essentially do nothing laws.
Sell house yourself hire an inspector and lawyer keep all the money. Real estate is a dying job.
NICE
A dying industry trying to make sure they get paid; when realistically you can have an agreement with the owner and buyer. And deal with everything on paper with just an escrow company lol 😂
About time.
W
housing should not be for profit. its a basic human need. the government should regulate it until its not a profitable market.
Welcome to capitalism.
Thanks for the informative video,your information is incredible, however, knowing that everything related to investing. I advise traders, especially beginners, to research the market before entering it.I have to say there are more benefits to trading than just holding. Big thanks to Evelyn's Infurna who always keeps me updated. I am so glad I started her program.
1% fee is good enough! 6% is rip off…