Has The Real Estate Market Fallen Off A Cliff? 

So glad you appreciated that metric!

I completely hear you.. But I don't think that's actually the case (specific to here). Nationally the market is performing poorly. Texas is getting crushed with people moving AWAY and Florida is having similar problems. In comparison, we're doing well... But again, this is more of a national issue vs. Vegas specific.

Vegas can still net a family a clean home, gone are the days that anybody could live (virtually) in any neighborhood they wanted to.

@@leboknows I understand, thanks for the reply.

shouldn't prices be 3% less because sellers no longer need to give 3% to the buyer agents?

@@Teolulz The idea of the rule is to no longer "force" sellers to pay buyers agents. Rather than baking it into the initial sales price I'd imagine sellers are listing a tad higher but being more generous with closing cost assistance on the back end.

Like the above / below comment said.. The "concept" was to LOWER prices by attempting to LOWER commissions. Hasn't quite been the case... With a slower market and less offers, if you want to sell your home, you're most likely going to have to pay an agent. Frankly, it makes MORE sense to pay the buyers agent handsomely so they KEEP the deal together. I've advised all my sellers NOT to counter the commission, but rather focus on the PRICE and NET number. You WANT the buyers agent happy in the deal so they do their very best to keep the deal together and their buyers engaged. If an agent is making 1/2 the commission they and their clients agreed to, then that agent is very likely to "not care" if the deal blows up, since they likely will make MORE money on the next deal. Good agents with BUSINESS just want a deal done and move onto the next deal. But most agents don't do much business. Therefore EACH and EVERY deal is what feeds them and their family and is vital. So for most agents, they'd risk losing the deal for the likely hope of a better return on the next deal. Obviously, this isn't how it's supposed to be. Prior to the change, we couldn't even really discuss the commission or negotiate more. But now that the veil has been removed, there's a slew of "unintended consequences".

@@Teolulzsellers are still paying a commission and will continue to do so forever in most circumstances. Only in a large bidding war for a home will a seller probably not have to pay the commission.

Hahahaha... Glad you enjoyed!

Well said... Ultimately it's "supply and demand". "Value" is inherently only what one person is willing to pay for a product. Some are unjustified like you mentioned. Others, were purchased brand new (then say added a pool) and were allowed to appreciate. Therefore $1.5M + pool for $150K + 2 year appreciation... Makes sense... But glad you enjoyed the video(s). Thanks again!

Hey, its a great opinion... And well.. Based on rates TODAY... 😬 Difficult to argue... Thanks for the feedback / comment!

Ahhh!!! Took me a second but... I'm picking up what you're laying down now! ;)

;) Thanks "Sunshine" Now when are YOU gonna make some videos... 👀

I'm surprised as well. And yes, you have a point. The homes that ARE selling are selling for a reason. In the forthcoming months more homes will be sold simply at a discount which could easily bring that median down.