NAR Loses Lawsuit. How the Settlement affects MLS, Realtors, Buyers & Sellers.  

Just Passed my Exams last week, I don't care about this news. I am still going to go out there and be the Best Affiliate Broker that I can be. My Brokerage has already got game plans in place. We will adjust course and continue to do what we do and do it well. #StayStrong

What a mess. Got my license March 1 and this is very concerning. Hoping it all gets sorted out soon.

I am a buyers agent I guess I dont need NAR anymore

Hi Jonathan, I want to say I love your videos. I love Keller Williams's Christian motto as well: "God first, family second, business third." If we keep our faith in God we will be fine and prosperous.

It is about time that we realtors start a lawsuit against all this nonsense…

I respect this guy he is a hard worker and takes care of his family. Realtors are the hardest workers in the ROOM PERIOD the END. If you don’t believe me go get your license and find out 👊❤️

You rockin that suit bro!

I am an investor and don’t like paying buyers agents and my agents commissionS which turn into quite a lot of money that I have to cough up at closing for the sale of my home. The fees are ridiculous.

I'm on the way to get my license. Will principal brokers be holding back on hiring new coming agents?

Johnathon this has been your best video. Thank you !!

This guy wants you to believe that he is stressed out because he is worried about the welfare of the sellers and buyers...!!!...LOL..Nothing is preventing the sellers or the buyers from hiring an agent if they chose to do so. The net result is the good realtors, brokers, and agents would do better, and the bad ones will lose.

The Court should dissolve NAR, it's a cancer for real estate industry

How about the listing agent includes an agreement to pay a finder's fee to anyone bringing a buyer to the close? Could be anyone not even an re agent, and including the listing agent. Creates a very big market, and no actual automatic commission split?

Thank you for telling us this!! ❤. Having such a major turn over in leadership in NAR signals a problem.

This guy gave no actual insights at all

Man, just passed my test on Monday for this to be announced on Friday. Why do I always miss the bus?

I just got my license omg this is a lot

If you need buyer representation get a freaking lawyer. He'll charge much less than 3% on a $500k house!!!

I can't wait to see all these buyers and sellers getting screw! Awesome job whoever the Judge! 😂😅😂😅 Awesome content by the way. Keep it up!

Thank you Jonathan for this information. How did this lawsuit with NAR begin? I passed my Real Estate exam (California) on February 23, 2024.

You will own nothing and like it

This is ridiculous! Just got my license as well .

This guy keep saying that Buyers are "entitled" to have agents that must be paid by the Sellers...!!!...LOL

RE is the #1 way to build wealth. (Needs to be kicked to the curb) Oil is one of the things that helped build wealth in many countries. (Kick it to the curb) Competition generates wealth (competition now bad-kick it to the curb also) 😢

Well they did lose, so I don’t think I’d say it isn’t true. Apparently price fixing is at least some kind of issue. Kind of by default alone it is, meaning if everyone is showing a 2.5% or 3% commission to the buyer’s agent AND you don’t… Which houses do you think will get showings from buyer’s agents? So while brokers and agents do add some value, most of the time the rates are too high for the limited value provided.

Oh no, I knew things had changed, but I didn’t know how bad. I told myself to just focus on studying and passing the exam first. Now I just saw this video and it feels so frustrating! Hopefully things aren’t so bad and it can still be a lucrative career. Looking forward to some new videos, even if they are negative lol. It’s nice to know what’s really going on, thank you.

What's crazy is that NAR is going to pass this lawsuit expense on to the agents to pay.

Dont you think that most sellers will be asked to pay all or part of the buyers commission still? It'll be asked for in the offer - much like a seller credit.

Wow!! I certainly hope Agents are still needed.

Of course, there was price fixing

I do agree that the MLS is wonderful.

Sounds like Realtors need to cancel NAR membership, better off without it

Dude. We have been cutting a fat hog for a long time. As a BA charge a flat fee to every buyer regardless of sales price. The better buyers agents will charge more. Have a retainer to start the search that gives x number of home tours and x number of offers before an additional retainer is due. As far as VA etc build the commission into the purchase offer. Yes know your value. A 3% commission on a $400,000 Is $12,000. On $1,000,000 it’s $30,000. What added value did you bring to the $1m. Be honest.

I don’t think NAR is good at fighting clearly why do we pay an organization that is good at being a terrible organization

Other countries dont pay for buyer's agent. Listing agents are only agents get paid.

Taking test soon but been on this new path for 6 months now, make or break time!!!!!! Adaptation

Sounds like we all need to drop NAR let them go bankrupt and start a new association.

I've been watching this unfold. So unfortunate. I just passed my licensing. There's got to be a contractual agreement for buyers' agents to be compensated.

NAR has had problems for a few years. Poor leadership and poor job representing realtors

NAR holds a monopoly on Real Estate agents and NAR needs to be broken up. It should just be controlled by the states and state boards that are voted to the board by the state agents.

Bragging about working constantly lol

Or Tech companies jump in to take over. Like Uber/lyft drivers can obtain RE licenses and become realtors. They are on the street all days and available for buyers. Buyers can book showing tour through those companies.

Nice job on this video. Thx for making it.

Should buyer sue because they are getting screwed because they can’t afford to buy a home anymore?

We as realtors should fight back. We must stand together

Nice job making this video. Nicely presented

Let’s hope buyer agency gets figured out to continue with good compensation

You look good.

Zillow said the will fight this

You explain things well. Good video.

Just got my license. :/ lol

That is not really true, you don't need to join NAR. You can do a dual % of compassion for listing a home. If the Sellers agents brings in the customer 3.5% and if a Two agents 4% and the two agents split the 4% (2%-2%)

I hope this helps you and takes the stress off👍 From NAR. Implications for members: There will continue to be many ways in which buyer brokers could be compensated, including through offers of compensation communicated off MLS as we have long believed that it is in the interests of the sellers, buyers, and their brokers to make offers of compensation- but using the MLS to communicate offers of compensation would no longer be an option. The types of compensation available for buyer brokers would continue to take multiple forms, depending on broker-consumer negotiations, including BUT NOT LIMITED TO: Fixed-fee commission paid directly by consumers.☝️ Concession from the seller.☝️ Portion of the listing broker's compensation.☝️ Compensation would continue to be negotiable and should always be negotiated between agents and the consumers they serve. That sounds pretty much like business as usual to me🤔

It’s sad and shocking.

Thanks for explaining this. ❤

Thanks for explaining this.

I have been searching for 4 mos. now and at first did work w/agent, but after finding out that I didn't need an agent I did my homework and whenever I go to look at a house it seems that the buyers agent I meet with is greedy and wants to take the agent fee that the seller doesn't have to pay my agent (as I have no agent) and can't seem to get enough. In every case the price gets bid up and after all is said and done, I can't afford the property. The Seller should set the price and if they don't get it, then take it off the market or reduce the price. How would this work if everything we see with a price tag is not the real price, but in every instance, it's an auction. Set the price and sell it. First come, first served!

looking sharp young man!

Good thing I left being an agent to sell AI tech! Way more lucrative and stable long-term

fyi sellers can pay commission to buyer agent but you can not write that on the MLS so you didnt say that in the video

Buyers still buy home with or without a buyer agent. The net result is that good agents would do better, and bad agents would be the losers.

What is MLS?

You are incorrect! It has always been this way!

Welp I just passed my exam yesterday 😮

NAR Failed everyone.

Excellent Video.

One of my top agenda items if elected to U.S. House of Representatives, 20th District - Special Election tomorrow - March 19, is to make sure FHA and VA buyers are able to continue receiving professional representation and that their real estate agents can continue getting paid.

I’m glad my brokerage got my back through this lawsuit. I know my business will be ok

❤❤❤

Im local to KCMO. Can I play devils advocate? In the current system, what incentive is there for a buyers agent to negotiate down the price? There isn’t. And that’s the problem. I’m all for this. I want to pay a buyers agent out of pocket to go out and kick doors down and get me the best price on a property and I will pay them to do it. For instance, if my buyers agent went out and negotiated a listing down 50-100k for me, I would pay them 1000 for every 10,000 they negotiated down the price. In the current system that will never happen because there is zero incentive for a buyers agent to get the price down because they get paid from the same account as the seller. It’s a conflict of interest for the buyer in my opinion. But I’m a consumer, not agent or in the business. Although I have bought and sold with my own money around several properties and land. And will be buying more. Just my thoughts.

Real estate agent are 120% crooks.....

Thank you Jonathan for your presentation.

The VA buyers should sue that is clear discrimination.

Any penalties on TREC for making the test extremely impossible to pass for minority applicants or people of color?

Will this affect real estate sales agents who are not NAR members as well?

I see lawsuit coming left and right when agents running after paycheck.