Housing Market in Trouble- Corcoran Warns
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- Опубликовано: 6 апр 2024
- Between all of the press, a lot of it misleading, about the NAR settlement, we seem to have forgotten that a realtors commission is not what will affect home prices. In fact, if you listen to Barbara Corcoran, home prices in today’s market are largely dependent on interest rates. Meaning, that with lower rates, prices will rise.
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Sorry about the voice. Was really really sick!
NAR needed to be challenged but watching realtors now try to say how sellers and buyers will do and all implications is kind of inauthentic. I am a seller that would price better if I did not have to pay such a ridiculous amount for realtors and brokers. It is a good thing that NAR corruption is being addressed.
Totally agree w/Caryn here. It's possible for two things to be true:
A) Maybe there's a better way to determine commissions in the industry. Also,
B) Commissions aren't the root cause of the agita in the housing market, despite the paranoid/cynical headlines.
Well done, Caryn!
Thank you 🙏🏼
Great stuff.
Good video. A lot of valid information.
Realtor commissions don’t affect home prices but it does affect how much the seller gets after the sale because they are paying for the buyer’s agent.
It will also affect what buyers are willing to offer when covering their own agent. Seeing a lot of YT advertising for discounted listing services as well. Things are changing. Not everyone likes it though.
Buyers eventually become sellers. If not paying the extra 3% doesn't equal lower home prices then when you become the seller, the 3% goes in your pocket, that previously disappeared into thin air.
I have been gaming this settlement process in my head and come up with a couple of dead ends. This could be a rhetorical question, but what if a buyer is not represented by either choosing or a VA buyer and cannot afford to hire a rep? How will they see the home, if the seller's realtor does not have the time to show the home to all the potential buyers. Maybe the seller gets so busy with calls they will only work with buyers that are represented, or worst yet only work with buyers that work only with them on both sides. Competitive offers will be more challenging for buyers. I just don't think this is thought out by NAR who agreed to settle, the lawyers who brought the case under the perception this will help the consumer or the judge and the DOJ who is presiding over the decision.
All good points. It’s a mess and unfortunately first time buyers and government loan buyers (25%) will suffer the most.
Nope. “Suffer” just means the old system isn’t for them. We’ll see. ESP near military towns, like her, they will figure it out. Too many VA buyers. Shameful
Wrong biggest factor is Supply & Demand 2nd would be interest rates
So when Corcoran, and the like, continue to “warn” those people on the sidelines not to wait for interest rates-is she combing those who are wanting to wait, with those that have to? I think simple research into this very fact will show these types of statements to be out of touch with working class issues. Also, have you heard of discounted listing services and flat rate agents? That would be worth a look as well.
and then when Jerome cuts rates, every mortgage broker will say... " Thats not what affects Mortgage rates." just wait and see.
Jobs dictate home prices
Supply /demand dictates home prices
@@CarynGardiner no job you are not going to be the buyer or the renter. I thought that was the reason for the eviction moratorium and the mortgage forbearance?
Sellers may not want to lower purchase price to account for not paying buyer's commission. But if buyer's are strapped to pay the same sale price PLUS a 3% commission..... they may not BE ABLE to buy. And the seller loses the sale! Oops!
No buyer would need an agent if the system was that the list agent has to sell the house without charging for both sides like they would now. Realtors always want to be the listing side but not the work of selling and instead sit back and wait for a buyers agent. Or if the list and buyers each got a flat fee.
Caryn: good video & analysis! Now here is your riddle for today:
Since the United States is the elected Master of our of Universe, and because human shelter is a fundamental need, why can't our government cut out the unnecessary financial middlemen and have the Treasury Department loan every citizen a reasonable no-interest loan to purchase an affordable single-family home, and assist all the unemployed real estate agents and construction workers -- and EVERYONE ELSE who is going to be unemployed -- by enrolling them in a state-of-the-art program to build single-family housing for our nation?
This woman is on some kind of hard core drugs...
Rude
@@kevinraimond7658 lol. I was so sick but wanted to put out the video regardless.