insurance for basic cheap work vehicles is basically a legalized racket now, or you can get a suspended license(even if you are covered by work or household family policies)
Several customers of mine are trying to sell their places here in Florida. With no luck! I told them they should of done that a yr ago before people realized Florida isn't as great as the media told them.
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800k to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Personally, I can connect to that. When I began working with Melissa Terri Swayne’, a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
A house isn't the best investment, considering the state of the economy right now. After selling my Boca Grande house, I want to put $200K into stocks because they can still increase in value during difficult times. Do you have any great ideas for stocks?
The truth is that if you make the right picks, you could make killer riches very quickly, although such profit usually needs expertise, as in hedge funds or financial managers. I personally prefer the latter.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
I've experimented with a few over the past years, but I've stuck with the popularly ‘’Sophia Maurine Lanting” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
I predict a housing crash due to people buying homes over asking price, lacking equity if prices decline further. Foreclosure becomes likely if they can't afford the house, and selling won't yield profits. With anticipated layoffs and rising living costs, many individuals may face this situation.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too
Anticipate rising home prices due to inflation, potential economic fluctuations, and Federal Reserve actions, emphasizing the need for expert financial advice amid uncertainties.
Homes paid overprice just resets the market higher and higher. Cha ching. That actually makes a owner profit. Your economics has more holes than swiss cheese. Best to get those credit hours refunded.
@@mrxiong2567 There are more real estate agents than attorneys in this country. Many of the soccer mom real estate agents that I have dealt with in business have husbands that make 500,000 plus. They are bored because they're home alone all the time so they become real estate agents.
Just bought a vacation home and let me tell you, the real estate agent did zero... we found the house, set up the viewing and told her what to do during negotiations for the best price. She also was trying to rush us during closing because she had to be sormwhere. Seller had to pay them 7k or 8k for closing. She wasn't worth $8.
We all need to ( I mean ALL ) Do FOR SALE BY OWNER . We can get a paralegal to do all of our paperwork. They’re excellent. We can do it all without a real estate agent and that’s what we all need to do. Stand up stand up and tell these real estate agents to go somewhere else and go get a real job cause we do all the work anyways
@@Kava_888Please...I agree there are many bad Real Estate agents out there...but I have been through very challenging transactions that I, the agent, saw it through. Without me the deal would have been dead. Many transactions have challenges and without a great agent the level of stress between both parties is significant. For Sale Buy Owner is an option but when you run into challenges you will see the worth of a good agent. It is your job to hire the right agent not an incompetent one.
I built my house myself. No bank loan or mortgage. Sold it myself without a real estate agent. Just needed a estate attorney to sign the contract. Saved $15K😊
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
Right, the role of adisors can only be overlooked but not denied. I got financially free at the age of 49 with over $1.6m in investment account alone. I was shocked that I made more money with money than with hard work, even my CEO income. Earning "return on investment" makes me more happy. (But I still enjoy working)
You're right, the best time to buy in the market is when there's fear. A huge part of my growth has also come during this bear market. This year alone, I have scaled from 80k to over 354k.
If you don't want to crash and burn, you should seek the advice of a fiduciary counselor when you first start out. Fiduciary-counselors have exclusive information and data paths that are not available to the general public. Understanding the direction of my Fiduciary-counselor Mary Callahan Erdoes Services.
Good 1 .. short and to the point.. ☝️ and on point.. use you in Congress . Play put on a bunch of pork on bills.. that they get past that gives money to people that don't even live in this country. Run for office. I'll vote for you
I bought using Carvana. Best experience ever. My next car will be Carvana. Just get it inspected within 7 days. Go to your police station have them do a VIN search. Done. No more dealerships for me.😅
commission percentages need to be renegotiated also. 6% was fine when homes were 100K but not with homes being 500K. No agent should be making 30g's per home sale.
Almost no agents get 6% on one sale. They got 3%. I still agree with your principle though. They did two sales to get 6%, selling one house and being buyer representation for the new one they moved into.
I serve the real estate industry and I can tell you most agents are jerks, uneducated and pretentious. They act one way in front of their clients but on their back its a different story. They are just hungry for money and sales. There is a minority that are completely professional and honest.
It is funny. They take a one month class, and suddenly they are special. I guess the days are gone where they made easy money. These days people don’t trust or like them.
Yea it's a two week course to get licensed and it is a strong attractor for high school drop outs. I don't consider a two week certificate a professional.
On the flip side, Mike, some agents tell the homeowner I can get you X more money than that other agent you talked too. They lie to get the listing. After they get the listing and it doesn't sell, they go back to the home owner and suggest lowering the price and blame it on a soft market.
Those agents are not lying, they are omitting facts. Yes the total purchase price on average is higher using an agent than not. However most homes were sold with concessions for years. Also there are the commissions. When all factors are taken into account the net in the sellers pockets ended up being 0.05%-0.1% higher using an agent. Now with all the online services an agent has become even more worthless.
We won't either! After selling and buying homes for the last 20-some years, we have yet to find one honest agent (part-timer or full-timer). And because of this alone, we will never agree to sign a buyer's agreement and pay them anything. Every property we purchased I did all the work in finding the house, and making sure the house was in good shape...agent did very little for us. Most did not even show up for closing.
@@tonyDa2Lo I had an interesting conversation with somebody who buys a few properties, "as is". Now how do I know if it is legit and not some sort of disreputable person or a scam? How can I be sure that the cash is good, before turning it over or signing? How can I be sure of a fair price? Is there really any reason that I need a real estate agent? Not trying to do "For Sale By Owner" to the general public though. I don't see that I will be able to be "out of pocket" fixing stuff or improving curb appeal for "might" get a bit better price. Not ready to move yet, but wrote down her phone number. If/when I get another place and residency in another country, I may want to get my stuff into a shipping container and sell quick, not having to fix stuff and not be trying to handle stuff still, after having moved out of the country. Why should I linger? Get on with my new out-of-country life, Plan A of leaving, not Plan B "when things get bad enough". I do plan on taking my internet phone adapter and American phone number with me though, so as to keep in touch with family, friends, or to tie up any loose ends. My house has a few maintenance issues, and very old 1970s carpet and outdated but functional kitchen, so maybe I should just take what I can get?
@dertythegrower home inspectors are worthless. Look at the exam in your state. I could pass that test and can't hammer a nail correctly. Most of them are friends with the major realtors. You want an honest opinion pay a licensed contractor, electrician, plumber etc to inspect. They will point out the repairs. A nurse at my hospital got fired for incompetence and ended up passing the home inspection test and claims to be a house inspector with her husband. We asked her if she knew anything about house construction and she said no. She can hang wallpaper. That was it. Having worked with that dingbat I wouldn't trust her with mowing my lawn without screwing it up. Most of my friends had bad home inspection experiences as well. Just pay the professionals their hourly fee under the table to check out the house. I'm selling by owner when the time comes and will offer to pay the lawyer fees for both sides since most young people won't have much cash left after buying their house with these prices. And honestly, if you can't afford repairs you shouldn't buy any house at all. There are always repairs.
Exactly! Morgage brokers suck! They plug shit into a computer and make it seem like there the ones that got them in the house. You either meet the requirements or you dont.
I've never worked with a real estate agent that I didn't have to initiate all, I mean ALL, phone calls. As I've said repeatedly, I just hate the process.
I remember looking at a house that was far cheaper than the others, but is it worth it to be in a poor location or poor neighborhood? I like the real estate agent letting me explore my options and I do not recall her being pushy. She likely knew I would not buy that house, but I still wanted to see it. The house that I did buy, I pulled down the attic stairs and took a look right then. I hear somewhere that only 5% of buyers even do that. Was nice that a part of the attic had a floor. I made a list of some issues, got seller to come down 12K. Fortunately, my Dad was good at fixing things and was able to fix a few issues. Although I had little use for a fireplace, I later had gas logs installed. The best possible use, wall thermostat in the hallway requires no batteries and works even during power outages, same technology as what regulates a gas water heater. Vent-free and "milivolt system" means that it has terminals to connect control devices to it.
@@cheesecakefan4880 The impression I was left with, is not that they are vultures, but that they weren't all that conscientious about their job. And, how would the average Joe home seller/buyer know that, until, like Michael says, it's too late. Most people like me, only buy or sell a home two or three times in their entire life. Which, from my experience, is a good thing.
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.
Same. Sold my house in 2018 and didn't pay a dime of the buyers agent's commission. Acquired the appropriate docs from a realtor friend, the rest was a breeze.
Got my real estate license at 18....I'm 59 now and still swinging the stick! Best advice I ever got when I was young .....Save your $$, Stay out of Debt, and Don't Get Married!! Timmy C Arizona
I think pretty soon we will be seeing a movement. More FSBO.....on websites like zillow or Redfin. All the easy ones. Agents will be forced to take all the crappy problematic deals. Easy ones will be FSBO...Next 5 years. Like it or not....I am also 59.
Good advice, I am 82 and I will add a couple more, don't trust women who say they are sterile, on the pill, etc until you can verify it, and if you are considering entering into a permanent relationship with a woman, like her moving in with you, do a background check on her.
Best advice I got when I was in my early years of selling real estate “the real money is in owning real estate not selling it”. After 21 years in the biz. I am happy to say Today I am a multi-millionaire 🤑
A lot of agents will need to learn how to work. I’ve had experience with lazy, lazy buyer’s agents ( ended up buying without one). I will not wire earnest money on a home I’d like to make an offer on without first knowing everything about the property. Had one agent (since fired) who told me “You’ll find that out at the inspection.” I wanted to know the cell and internet provider, propane supplier, age of water heater, furnace, etc. Not my job to ask questions even. Try providing all info up front. That’s part of a job! Not my job. I’m not paying myself commission. Most RE agents are useless.
Agreed, I wanted to know similar information and how old was the old furnace? Response from my realtor was the seller realtor is on a vacation and she doubts she'll answer the call. I was about to put money down on the property but backed out.
It sounds reasonable but it's actually not. That's like expecting the employees at home depot to know exactly where to find all 500,000 items in the warehouse. The contracts have prewritten sections for a reason, the inspection period being one of them. If you don't like the way it is you certainly don't have to buy it but don't blame the agent.
@@totalbullion5882How does someone know if they’re not told a basic question like how old is furnace? Maybe this would be the reason you don’t want to buy the property. I’ve filled out a few pages when buying property with questions such as has this property ever flooded, any problems unknown, …
In Minnesota the seller has to include a disclosure statement. This includes the age of the mechanicals, anything that affects livability like leaky windows. If they fail to disclose a problem they get sued for fixing it. If the agent is aware of say a leaky washing machine they are also required to disclose. Again if they know and don’t disclose they can look forward to being sued.
Capitalism works by getting the highes price you can without having price rejection. We are now seeing price rejection. That means prices are going to come down.
So , I’m overpaid? I’m the hardest working person I know. My clients can call on me 24/7.I give each of them tons of market expertise and updates, advice, counseling, continual communications and expert negotiating through often difficult transactions, in order to help each client achieve their goals. I have no 401 K, no employers sponsored benefits. If I make a 3% commission on a sale, for this example, let’s say it’s $3.00. $1.25 goes to my broker. So I.m left with $1.75. $.75 goes to Uncle Sam. So I’m left with $1.00. $.25 goes to broker fees, licenses, dues, memberships. So I’m left with $.75. I spend $.10 on marketing, and another $05 on marketing each of my listings. So I’m left with $.60 to pay all my bills, gasoline, my own home maintenance, health insurance, car insurance, home insurance, groceries, my wife’s healthcare premiums and her out of pocket medical expenses, clothes, auto repairs, etc. Yeah, realtors are part of the problem.
I will list my own house for sale.....On MLS. just pay the 100 bucks....Offer a buyers agent commish Maybe maybe not. and sell them on Redfin and Zillow. This is the future for all non problematic transactions. All the easy ones will be going FSBO in the next 5 years MAX
@@mikesrandomvideos I'd say go take friggin hike. You're going through a buyers agent whether you like it or not and the agent is going to get paid his due. Here...flips a quarter, now go buy yourself something.
Warren Buffett once said to treat investing in securities like real estate-you don't constantly check for gains. So, the recent bitcoin price drop doesn't bother me. I keep dollar-cost averaging and adding to my position, and I'm up 200% year-to-date because of this strategy.
Regretting missing out on earlier Bitcoin investments, I kept funds in a HYSA. Now, with $200k to invest, I aim to avoid FOMO and buying at the peak. What's the best approach for a newbie to navigate the market?
During bear markets, aim to 5x your portfolio by accumulating crypto and reinvesting dividends. Consult a financial advisor for help. Since 2020, my $1.2m portfolio has averaged 28% annually through restructuring with growth stocks, ETFs, mutual funds, and REITs.
I’m careful about giving specific advice since everyone’s situation is different. You might want to consider an independent financial advisor like Jessica Lee Horst. I’ve worked with her for two years and highly recommend her. See if she fits your needs
curiously inputted Jessica Lee Horst on the web, spotted her consulting page and was able to schedule a call session, no sweat. Ive seen commentaries about advisors but not one looks this phenomenal
@@MrSteeDoo That’s the easiest part! Look at all the comparable solds, as close to what you have. Look to get your home cleaned to perfection, inside and out, keep looking at how many close each month within a mile, just like yours, that is your pool of buyers, it may be 2 a month. If so, you need to be NOT overpriced. Interview 5-6 agents, including discount brokers like Ideal Agent. Keep cleaning, bump up curb appeal, and touch up all the paint. The key is no evidence of anyone living there. Keep looking at solds, ask agents to bring comparables “solds “. See what is good & bad about your property. Make sure you have the outside power washed, no dirt or mold. With super clean fresh paint, power washed, floors professionally cleaned, everything dusted & cleaned out, and if the HVAC/water heater/ plumbing or roof needs replacing do it. That way you will pass all inspections, people like new functional components. (So do banks giving mortgages) after you’ve investigated all the solds, how many buyers each month, in what range, ask agents that you interview what they would list it at to sell it fast. Is the price near the same as what has closed in the last 6 months. Average up what the agents say and the solds and take off for flaws, and that’s your price. If it is not under contract in 2 weeks, lower the price $10,000. Until it sells. Anyone who looks at the house, and get feed back. Implement what is needed. I like to use discount brokers that close with real estate attorneys, but I usually do long distant closings by FedEx. It works out well.
It's time to buy / sell directly, there is really no need for realtors, paying the middleman for lies and delusions which nearly always yields to bad results...
@@fcojgines1 most real estate agents don't do any of that, that's what you hire a lawyer for, to handle the closing, it's called a closing agent, let's not purposely confuse the two, we are clearly not talking about the closing agents here.
we are in 2007ish again... the data chart shows it.. *the only reason the deadcatbounce saved us last month was the big 3 or 4 real estate investor groups lile blackrock* .. its coming in 3, 2, 1...
That's the point... The market is a runaway train.... Needs to be regulated to bring prices back to earth and this is a start by cutting out the shady deals.
@@Thebankfisher The realtors are already coming up with ways to break the law with seller concessions kickbacks. Home sellers will be sued by buyers after closing..
I loved my realtor! He would let me search listings which I wanted to do as I knew exactly what I wanted. I'd make a list and he made appointments for me. He used to renovate homes and flip them. When we looked at a house he would go thru it like an inspector and point out things that may have been to expensive for me to fix., he was always aware of my budget. One listing was a beautiful renovated little house but when we went to the neighborhood it was sitting among dilapidated other houses looked like crack houses. He said, "you don't want this house unless you get a pack of wolves to guard it". Another house I kind of like and he was pointing out a depression in the popcorn ceiling, his finger went right thru it, he immediately said, "we're outta here". I did find a good house, he got seller to drop $10k and $2k toward closing. It was a good experience.
@@chevyiceraw No locally but he explained a lot about HOs ins, HOAs, comps, taxes, maintenance, ect, not just potential problems. I never would have thought about feeling the ceiling for sagging...lol! It was my first time buying. Never at one time was he pushy. If I was ever to buy again, I would know exactly what to look for.
@@zsigzsag Awesome that is exactly why I got my real estate license to help people the same way. I'm an Architectural Designer and owner of a Design Build Company. I was getting a lot of code violations for unpermitted work at properties after people had bought the home. So I decided to get my license so I can educate people about unpermitted work while buying and how much it would be to get permits etc. and be able to buy the right home for them.
@@dp.7616 absolutely if you know what you’re doing great. I have had times I have talked buyers out of a house knowing it was not the right fit for them. This is going to hurt first time buyers the most and also people coming from out of the area. It will all play out and get rid of people who don’t have others best interests in mind. I’m near retirement so whatever goes down l am about out. Ive seen a ton of scams with by owner. One couple bought a house the guy was getting foreclosed on. He pretended he was owner financing. Many of these people aren’t first language English speakers.
I got my first house by writing a letter to the owner, not the listing agent, and got the house for less than the highest offer by being honest and humble.
@@Jane5720I got a letter in 2016. Had an open house on the weekend and had 10 offers. It was a nice touch, but I just wanted to gtfo so I took the cash offer instead
I live in a county with 1 stoplight... neighbor works and brings home work truck, nw mich.... dollarstores (3rd or 4th in town limit) being built. all 3 brands... miami never stopped building. but yeah, everyone is hurting because of regulation and surcharges
DUDE ANYONE WHO HAS SOLD 1 HOUSE DOESNT NEED ANY REALATOR. JUST PAY FOR A ZILLOW ADD AND FING A GREAT TITLE COMPANY AND A REAL ESTATE ATTORNEY! FOOLS PAY 6%
I've done this many times. However, I don't pay Zillow, I pay a "broker" around 100$ to place the add on the MLS (and in turn it'll be advertised on Zillow anyway). That's all they do, I do the rest. You can find the brokers that will do this fairly easy.
Exactly... like buying a stock. You could use a full service broker and pay $20 or you could just use E*Trade or Schwab or whatever and not pay anything (the broker gets paid through the spread).
@@mommom3172 I know you're not asking me, but I've done it 4 times since 2013. Title company does most, if not all, of the work once you've found your buyer and negotiated a final price.
@@hvaball150. They need real training. Not the two week class they get now. I agree on an hourly rate, but not higher than someone with a degree. Expenses or no. $60 per hour is more than enough. They need to be tracked or do a flat fee. I’m sure they will scam.
Yeah, but only one agent is involved in all deals. You don't need two. They created this two-agent thing. One agent or go somewhere else. I can't stomach dumb people who don't want to read anything to learn how-to.
I don't know about $20 an hour but even at say $50 an hour it would be a great savings. It is not rocket science and you can pass the real estate exam in most states with an 8th-grade education. They do provide a service but you cannot convince me that even at a reduced commission of 4% total they are worth $20,000 on a $500,000 home. Also, why doesn't the commission go down with higher value homes? The million-dollar house does not require twice the work of a $500K home. I have sold two houses with a flat fee service. They put it in MLS and it appears on all the internet sites. Pro photos cost me about $200 and the flat fee listing another $200. I have a lawyer to look at the contracts and I can sell any house for under $2,500. Young real estate agents need to think about what they will be doing in their next job. The older ones can ride it out to retirement.
@@Plutogalaxy fair enough, but this is kind of pie in the sky. Take another example, like a fence install. The installer wants or needs $8000 for a job your size. They have overhead and materials. They can quote fixed price or could do labor rates. They don't end up charging $2000 for the fence using hourly. Will not happen. It will be $8000. Real Estate is very close to fixed price. 6% and you know about what the house will sell for. The brokers will want 1.5% per side, plus agent commissions. Using your 20 hour example, that $400k house with $12000 fee they will desire $600 per hour. More likely they will say they worked 100 hours. The broker-agent dynamic doesn't seem to change. You are going to pay $1 for a 20 cent apple.
I don't care about the amount of hours someone works. Most of the full time agents are incompetent or crooked. There is no reason why a part time agent can't do better. This is not rocket science but deserves hard work.
Don’t really care about the realtors. I have purchased and sold many many homes over my 60 year life span. I stopped using them when I entered my 30s and was the best decision I ever made as it saved me tens of thousands of dollars at most transactions. I hope DoJ goes after title companies next… (I’m an insider I know the graft handed out) costing home buyers way to much money…
Do you feel the same way about mortgage brokers? Some innovative brokers/entrepreneurs will build a better mousetrap and learn how to bundle services so the consumer can save money.
i worked as a courier for miami title company 2009ish... got a priv mortgage done myself, and title was 1100total cost to florida and county.. i then qualifoed for 2011 obama fth credit, which came late with 300 interest on 5500
... 2003, when we put our Scottsdale home up for sale we went with a professional realtor whose kid went to private school with ours, Michael. She'd sold 30 homes in our area. Eventually, she represented both seller and buyer. I guess those days are over, eh? She also pegged the exact amount the house would sell for. We had three buyers. I told the one who wasn't going to flip, (and he didn't), if he'd come up $10-grand to meet the other buyers, we'd sell it to him. He did. And we sold the house to him.
Just pay people by the hour. Sales jobs usually pay commission to motivate the person. These slugs don’t deserve a cut of the house price. Sorry. This whole topic triggers me.
If that was your problem, the entire buying process was clearly beyond you. It's probably very good for you to have a landlord to help you manage the roof over your head.
@@JoaninFlorida why are you in all the comments being nasty to everyone? You are obviously an agent & bitterly watching the market change so that you & most is the rest of your crooked peers won't just be handed thousands to show up and unlock a door. Give it rest in the comments and quit harassing everyone.
@spudruckus7297 but you are somehow just fine about an entire thread ragging on agents and their "undeserved" commissions? What a lovely person you are. NOT
We need simplification so sellers can sell directly to buyers with no middle man at all. We don't need realtors at all. It doesn't take anymore effort to sell a million dollar house than a 200 thousand house. Why should you have to pay in percentage rather than by the hour rates or a flat rate.
It's a conflict of interest. The seller wants to sell at the highest possible price which is also in the agent's best interest if the commission is a % of the sale price. Meanwhile, the buyer is interested in buying at the lowest possible price.
You make money in real estate when you buy and you realize that money when you sell. It is so important to buy right and for years people have not realized how important buyer agency is. My business partner and I have sold close to 700 properties and still love working with buyers! Concord, Ma real estate
I don't often comment. But I must say your format and presentation is awesome 👌 You are so knowledgeable and the way you present your videos are very calming and the scenery is beautiful. I'm hooked Michael.
Right. Prices are coming down now everywhere. Top neighborhoods are already last to lose value. Price reduction you see regularly now. It's the start along with many other factors. If you're looking to buy wait, that house you like will be much lower this winter. Don't think you will not find another, you will but better and lower cost.
In the USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
I just googled her and I'm really impressed with her credentials; I reached out to her since l need all the assistance l can get. I just scheduled a caII.
I'm an interior designer and I've learned so much from your show. I did try to get my license years ago but I think I will move in another direction. Love your show.
If you can't make a living, what is the point. The whole ballgame is getting the listing. Otherwise forget about it. No buyer is signing up for 3%, just for writing up an offer. Hourly rate, $50, just see the house with the sellers agent.
Yes, the greedy people who would rather sell their house to an investor willing to pay over asking price instead of the family looking to purchase their first home. 😂
In western Pennsylvania, "We Buy Houses" Sends me bogus offers which I know they will never give me. Not selling anyway. They also send mailings to me showing the value of my house, which I would want more than that. These mailings are automated and repetitive.
I believe this new law is all about the realtors. Buyers will think twice before buying, that’s if they can afford it. This was unprovoked self inflicted damage to realtors and home buying in general. Once you sign that buyers agreement, they got you.
Brother this is the problem with greed over scruples, buying a house is worse than buying a new car these days. I appreciate how you handled yourself during you real estate tenure, but people like you are very rare. I look at this way I own my house why do I need pay someone to sell it and more money to pay for the buyers agent on top of all the attourney fees, sorry man that is bullshit.
You have seen it all. Great advice! Anyway, my real estate story. My wife and I went to buy an oceanfront 2bdrm condo in a place everyone knows. Anyway my agent was a wonderful lady and every time she found something we would go on an 800 mile roundtrip to see it. We had to go when the unit wasn't rented as it is a vacation area. Anyway we found a place but the seller (who lived 3 states away and we never met) was a true NUTCASE!!! It was perfect ,but because of his crazy decorating I knew we would have to put about 20 grand into it to just get it back to where we wanted it (that's another story what he did to this beautiful condo.) He wanted closing in 30 days and all this weird stuff. We made it happen and love the place and still own it (on rental when we are not there) but our real estate agent truly deserves whatever accolades we give her and we are friends to this day.
I am selling directly to the buyer. What is saved in commission will benefit the buyer directly. No games. No drama. The best deal for both across the board! I am buying my next home directly. I am done waiting on an agent who doesn’t have my best interest in mind. 🎉
I hope for the future that buyers agents are just offered flat fees for showings and a small percentage for closing. Everyone wins. You don't need to sell a house to continue paying your bills, prices overall are cheaper. Transparent, straightforward. Just how it should be.
Yes, some houses have a 'dark' ambiance that stay throughout many changes of ownership. It feels like a weight upon you, like a negative energy. I would hope potential buyers are aware and sensitive to this phenomena. A realtor would not want to disclose this. Yes, I had a real experience. Lasted 6 days before it went away. Lots of praying. Fyi
We aren't required to disclose m*rders or s*ic*des that happen in properties. I sold a home last year where a man killed himself. Wonder if the buyers found out yet. 🤔
Thank God for that title you have. I hope it all comes true. The Real Estate industry refused to change until their forced to. More needs to be done. It's our money, not yours. Paying Realtors $10-$40,000 on average to buy and sell is BS. It's our money.
I was very lucky to have a great agent who sold my R.I. home in 2021, and the reason I used him is I had a great experience with him when he sold my late parent's home for me in 2010. And I was very fortunate to have an equally great agent that I purchased my FL home from in 2022 who now I call both these agents my friends and have referred others to them. Both of these agents were working in real estate for years which was their only job. And, both earned every dime of their commission and both homes sold for a good amount over asking.
When my mom died, we placed the house for sale. Buyers were rude and nasty and lied and did not provide their name or number. The buyers even used the bathroom. Buyers should not be trusted
@@mommom3172 a house is the biggest investment you will make in your life. I encourage buyers and sellers to utilize skilled real estate agents and hire home inspectors and make sure the title of the house is clean and hire a lawyer to coordinate your biggest investment in your life. If people do not do this then something will go wrong
I hope so too! My sisters are real estate agent and she's terrible but I would be labeled as the mean horrible inconsiderate sister if I work at the real professional realtor instead of my sister knows nothing.
Not high income & have purchased 2 homes..... I drive around an area I like & see homes for Rent.... I ask the owner if they'd like to sell.... & Twice that worked Great.....
Thank you for your hard work Michael! Because of your Channel I learned so much about the housing market and the economy! So glad I found your channel!😊
Glad to see the lot of them go.. had really good agents and really really did the job .. then started to see so so many yahoos jump in as “fast money” … good riddance to those jokers! The really good real estate are in for the long game .. not the short make a buck game.. and the y don’t handle their finances
Half the problem with real estate sales is that buyers aren't serious and just waste realtor's time looking at other houses because they are nosey or want decorating ideas.
That's the weak and unskilled agents' problem. Going to many classes and trying to sell for years doesn't make you an expert. Unfortunately, very few people are doing for a living what they are best at.
I expect my realtor to know the market, discuss with me what I am looking for and be able to direct me to those homes. Not the homes that they want to sell, but The Home I want to buy. The best realtor will be the one that can, know the buyers desires and show them a house that meets them. That saves the buyer tons of time. That is what makes the fee worth it.
I have never understood the 6% commission fees. I struggle with paying $2.00 more for a pizza now I’m paying $80k to a worthless uneducated agent? Boggles my mind.
@@TheSuperdodgy Discount brokers will thrive under the new, unrigged process. See the first #5 below, & #7 below. Traditional brokerages will go out of business, or lower their fees. Our free market is BRUTAL. Old Rigged System: 1. Seller FORCED to pay buyer agent fee. 2. Buyer FORCED to hire agent, supposedly for free, which was a lie. 3. Which FORCED the seller to include the buyer agent fee in the sale price. 4. Buyer FORCED to pay higher home price. 5. Discount brokers FORCED out of business, as agents will STEER their buyers to homes with higher agent fees. Bottom line: FORCED = RIGGED SYSTEM New Unrigged System: 1. Seller not FORCED to pay buyer agent fee, but he’ll tell his seller’s agent that he will pay a 3% buyer agent fee, to attract more prospective buyers. This is the only way to keep agents from STEERING buyers AWAY from his home. 2. Buyer not FORCED to hire agent, but still can. 3. Represented 3% buyer offers will be lower than unrepresented buyer offers (due to the 3% buyer agent fee being an expense for the seller). 4. Represented 1% discount buyer offers will be lower than 0% unrepresented buyer offers & 3% buyer offers (due to the buyer agent fees being an expense for the seller). 5. Seller will accept the unrepresented 0% buyer offers (if received), otherwise, he’ll accept 1% represented discount buyer offers (if received), as they will be higher than the offers from the 3% represented buyers. 6. Unrepresented buyers & 1% represented discount buyer should include a requirement in their offer contract, stipulating the seller will acknowledge receipt, directly to the unrepresented buyer & 1% represented discount buyer, within 24 hours. This guards against seller agents depositing offers from unrepresented buyers & 1% represented discount buyers in their trash cans, in an attempt to rig the system against unrepresented buyers & 1% represented discount buyers. 7. Discount brokers not FORCED out of business, as STEERING is neutralized and more 1% represented discount buyer offers will be successful. Bottom line: FORCED RULES REMOVED = UNRIGGED SYSTEM
Yeah it was easy money showing a buyer over 30 houses and then holding her hand because she got frightened just before closing and was going to walk away from her deposit. Sir, you have absolutely no clue.
So glad it's more straightforward in Australia! Want to view 5 houses on a Saturday? Just turn up at each open home. They'll likely ask your name and number, but you don't show ID so if you don't want to be bombarded by agents calling you just give a false number. Seller's agent gets the commission, no buyer's agent needed as you deal directly with the vendor's agent.
This used to be the way it was in the U.S. until buyers filed lawsuits claiming it wasn't fair that they weren't represented. 😂 So, now we have it that Sellers said it wasn't fair that they had to pay a buyer's agent. So, now buyers get to pay their own fees. 😂
I'm not signing an agreement to look at a house. Why would I pay $8K to some agent that will show up at closing on a house I found myself on Zillow? What service did they provide me? I'm much better off to show up with my attorney for 1/20th the price.
@@veronicaegidio2374 our MLS has a yes or no button if the seller will pay concessions. It’s in the seller’s interest to pay concessions. That way all buyers are included as possible purchasers. The focus needs to be on the seller’s net proceeds. Not on the structure of the deal.
buyer's agent? no such thing here, buyers just deal with the seller's agent if they have one at all, it's easy enough to sell it yourself and just pay a settlement agent like $1000 to do the paperwork etc.
This is why I never considered getting a real estate license- with real estate market being highly subjective by Wall Street and investors out pricing regular day to day homebuyers, it’s just been a mess. It just been unstable for a minute. I keep seeing these ads from investors saying, ‘I want to buy your house’. Really, you’ll do anything to buy my house. Why do you want to buy my house SSSssooooo bad. People have complained that they realize that they have regrets from buying their house. I think I’ll wait a little longer before I buy… no rush. To each his or her own.
We've always had the buyers agency agreements, its just law to use them before showing a home now. So far it has been good! Its definitely weeded out alot of the tire kickers who just want to see a home with no intentions of buying right now
Yeah, but you forget to mention that before buyers did not have to pay commission to buy a house....that is the big difference...and good luck on you and all the agents who think they can squeeze blood out of a turnip (get buyers to fork over an additional $15K and up for an overpriced house!)
So you think people are just going to buy your house just because they came to see it? It’s called “Shopping”! if you don’t like running the numbers then don’t sell your house. Why do people think that they are supposed to show a house and the first person that sees it should buy it? If that’s the case then there would be no houses to sell. Don’t ask for what you don’t want.
Hey Michael …. I think you are golden in this field . If and when we sell we will contact you . I also hope your channel on utube continues to grow off the charts ….. Love from sunny Florida ( Dunedin)☀️❤️
Sold the house in Buffalo New York in 2019 refused to sign with the sellers agent told them I would still pay commission if you brought me a qualified buyer after a bunch of games I had to throw one realtor off the property. I sold it with no commissions, because they were too lazy to do their job and preferred to play games. The man who bought my house was told I didn’t want to sell the house to him and I was told he didn’t want to buy the house by crooked agents.
