How Sean Herrero Is Turning The NAR Settlement Into an Opportunity

Watch this interview with Sean Herrero to hear how he's turning this seismic shift in business for Realtors into opportunities. He also shares a specific MortgageCoach strategy that's helping him get into strategic conversations with Realtors.
TCA Showcased:
Sean's Commission Change TCA - mcedge.tv/0nblm7
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[@MortgageMarketingRadio]

I like to clarify that Buyers Agent Compensation (BAC) paid be the seller is still acceptable. What's not acceptable is advertising that BAC in the MLS. There are deals being signed this week with sellers agreeing to pay BAC as part of *their* cost of selling. It's more a matter of sellers agreeing to pay BAC or not.

[@Pinkymortgage]

Great stuff Dave and Sean! always leading the way!

[@MortgageMentorMike]

Great information Dave & Sean, getting out in front of this is critical. As an industry, we need more focus on VALUE, and now the real estate community will have to deal with this issue as well. While much is left to be determined, I don't think we can pass up the opportunity to discuss how we deal with all aspects of the buyer/seller world, especially the entry level borrower who is already maxing out seller contributions to gain entry, and now having to deal with these ramifications. The mortgage industry will also have to look to pivot and make choices. There is a great deal to unpack, hopefully Dave, you and your team will keep out in front of this discussion because most won't! Just like TRID, this is an opportunity to create value through information, education, and options. Great job!

[@TheCintronTeam-RealEstate]

it doesn't help when mortgage agents start acting as a real estate agent...this is a post from a real estate fb site i have been reading. mortgage people should not give real estate AGENT advice, they should refer them to a real estate agent:

"So, here is some additional fallout from the NAR misinformation and how it's getting interpreted. I just had a lender prequalify a prospect for a listing... When the buyer stated they didn't have an agent, the lender recommended the seller rebate the 3% the buyers agent would get, directly to the buyer... which they agreed. Who do they think is going to do the docs for the unrepresented buyers? I'll be glad when this all finally lands."
---now the seller and buyer will want the list agent to write up and behave as buyers agent for free.

[@BillBlackfund4u]

Hmmm sounds like the buyer has an abundance of funds to outsource that paperwork to a law firm that specializes in processing Real Estate- $1200 fee?
It seems if there was no buyers agent employed to procure the home- a 3% fee seems pretty expensive?

[@HayleyShams]

Great info!!! Will this be a higher sale price in order to get seller credit to cover commissions? What if the seller doesn't want to give any credit? Will the buyer's agent's commission be able to be financed similarly to the FHA and VA funding fee?

[@RyanSkaggs]

Great Topic!

[@treciewheathughes406]

What if the property does not appraise for the higher value? Are appraisers going to account for the buyer commissions?

[@withRealtorMia]

What if the house doesnt appraise

[@georgeherzog6366]

Good luck trying to talk buyers into paying that fee. Not going to happen

[@DigitalPowerfulAlom]

sir i am following your youtube channel constantly your content is very nice but your video is not going viral due to some mistakes in your optimization if you want i will show your mistakes and help you can i talk to you

[@GROW_YOUTUBE_VIEWS_m043]

I like the way you present information.

[@candacesmithyourmortgagead5938]

If you add in the closing costs how is the interest rate the same and the loan amount not increase?