Or you hire a non-crackpot agent, like me, that could negotiate that commission from the seller AND potentially save you thousands by helping you not buy a money pit 🤷🏻♂️
Most RE agents are incompetent, dishonest & self-serving. I've experienced that personally over many RE transactions and had 2 close friends who were RE agents but left due to the rampant, unethical and dishonest behavior. Like any profession there are ethical, talented agents. Sadly that is a minority of them. Truth.
I’m so sorry to hear that was your experience! We do find we constantly are trying to earn back trust from the public after so many awful experiences with agents.
Yes. I used to have my RE license and handled a lot of closings as an attorney. When I put my home up for sale FSBO, with clear statement that I'd pay 3% to buyer's agents, the amount of harassment and hate from listing agents was ridiculous. Nonstop calling in violation of the Do Not Call Act. Then the games the buyer's agent would play thinking they could get away with it since I wasn't currently a licensed RE agent. Most RE agents are bottom feeding narcissists only out for themselves.
Oof… I can’t say I haven’t met my share. In a way, this new law has some perks, one being that agents aren’t getting paid to do an awful job. Buyer’s agents specifically will have to prove their worth before they ever open the door for folks, or else buyers will look elsewhere before tying themselves to an agent who isn’t in it to serve their interests.
These changes have already been adopted by brokers in Texas. Seller agents highly encourage sellers to provide the 3% for the buyers agent because the buyer's agent will now call the selling agent directly. If there is nothing in it for them them will steer to a home seller that is providing 3%. It seems this new change has only amplified the initial problem of "steering".
If you are in a hot market, the sellers will have multiple offers. Also with sites like Redfin and Zillow, most of the time we tell the buyer agent what homes we want to see. If the agent won’t show it to you, fire them.
Not at all! But this definitely adds some steps and considerations. I’d say it depends on how competitive the market you are in is. If it’s not super competitive, like a lot of markets right now, then you actually have a ton of advantages. But if the market gets very competitive (low interest rates and low inventory) then it’s definitely going to be harder. There’s also a lot of agents out there who are doing a good job consulting sellers to let them know it’s actually a really good investment if their money to pay for a buyers agent. That means the offers will be more competitive because the agent’s commission is covered, and more buyers (with agents) will be competing. So I can see this working to your advantage too! Don’t give up the dream!
This is great I will be forced using some crackpot buyers agent that sucks and pissing away 3% now I can save the money and put it towards upgrades
Or you hire a non-crackpot agent, like me, that could negotiate that commission from the seller AND potentially save you thousands by helping you not buy a money pit 🤷🏻♂️
Most RE agents are incompetent, dishonest & self-serving. I've experienced that personally over many RE transactions and had 2 close friends who were RE agents but left due to the rampant, unethical and dishonest behavior.
Like any profession there are ethical, talented agents. Sadly that is a minority of them. Truth.
I’m so sorry to hear that was your experience! We do find we constantly are trying to earn back trust from the public after so many awful experiences with agents.
Yes. I used to have my RE license and handled a lot of closings as an attorney. When I put my home up for sale FSBO, with clear statement that I'd pay 3% to buyer's agents, the amount of harassment and hate from listing agents was ridiculous. Nonstop calling in violation of the Do Not Call Act.
Then the games the buyer's agent would play thinking they could get away with it since I wasn't currently a licensed RE agent.
Most RE agents are bottom feeding narcissists only out for themselves.
Oof… I can’t say I haven’t met my share. In a way, this new law has some perks, one being that agents aren’t getting paid to do an awful job. Buyer’s agents specifically will have to prove their worth before they ever open the door for folks, or else buyers will look elsewhere before tying themselves to an agent who isn’t in it to serve their interests.
These changes have already been adopted by brokers in Texas. Seller agents highly encourage sellers to provide the 3% for the buyers agent because the buyer's agent will now call the selling agent directly. If there is nothing in it for them them will steer to a home seller that is providing 3%. It seems this new change has only amplified the initial problem of "steering".
Totally agree 👍🏻 It’s super unfortunate that this rule actually hurts what was more equitable to begin with
If you are in a hot market, the sellers will have multiple offers. Also with sites like Redfin and Zillow, most of the time we tell the buyer agent what homes we want to see. If the agent won’t show it to you, fire them.
Open house, open house, open house!
So,
So in American tgere goes my dream of owning a home
Not at all! But this definitely adds some steps and considerations. I’d say it depends on how competitive the market you are in is. If it’s not super competitive, like a lot of markets right now, then you actually have a ton of advantages. But if the market gets very competitive (low interest rates and low inventory) then it’s definitely going to be harder. There’s also a lot of agents out there who are doing a good job consulting sellers to let them know it’s actually a really good investment if their money to pay for a buyers agent. That means the offers will be more competitive because the agent’s commission is covered, and more buyers (with agents) will be competing. So I can see this working to your advantage too! Don’t give up the dream!
Helpful video, thanks Trevor!
Scare tactics.
No scare tactics here! Just helping people realize this change isn’t just affecting agents