Unpacking NAR Settlement And Buyer Agency 

Buy now, home prices will not go lower. If rates drop, you can refinance.

The government will have no choice but to print more notes and lower interest rates.

Well i think, home prices will need to fall by at least 40% before the market normalizes. If you do not know whether to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in return on investments.

Finding financial advisors like Amber Angelyn O'malley 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.

Amen! Terrible.

They buckled and did not protect us!

Why are we mad at NAR? Wasn't it all the individual agents that were not being ethical? It sounds like agents weren't telling their clients how they were going to be paid. That's not on NAR. That's on all the agents who weren't doing right.

As a real estate trainer and a real estate agent with 25 years of experience, I am surprised, that NAR didn't use the following defense: "the 6% commission readily shared by the listing agents with agents who bring buyers is a great tool to create much higher exposure of the properties and, thus, selling the properties for much higher prices. Thus, sharing the 6% commission benefits our clients who are the sellers". By not using this point NAR has let its members down.

So true

Yes, but it's not good if the agents are negotiating their commissions and who pays it in the offer... you risk losing the sale for the seller or the house for the buyer, which is against your fiduciary duty to the client.

@@marciamakoviecki3295 that will change because it has to be in the contract at this point. If it’s not, an agent or Realtor won’t get paid.

It’s an opportunity to dethrone realtors that are not prepared.

@@thedebtalchemist I honestly feel that way because I don't know the industry in any other way but how it is currently lol

You will because you don’t know any other way then the new way. The old school agents will be the ones affected because their systems and methods are so deeply ingrained that it will knock them down. You on the other hand don’t have any systems yet so your systems will be built off this new landscape.

It will be tough. Good luck.

@@Tincupping thank you so much I actually have two deals in closing at the moment. So far I've been doing OK I'm willing to accept challenges 😄😄😄

Absolutely! What if your Seller offers higher compensation to a white agent with white clients, but a lower compensation to a black agent with black clients. Before it was published for all to see.

sounds like a lawsuit to me. have you talked to a lawyer?

There are already laws against that. Did you and your clients file a lawsuit?

Yeah they were just a little too 'excited' for my comfort. It's time to watch and to follow the money....that's where the answers always are!

Lol

The result of this will be more professionalism in the industry. I too am excited.

Please explain to me how this is more professional! This is turning back the clock by decades. How long have you been a realtor? I have been in ,residential mortgages and real estate since the 1980's and this is a big "lose" for real estate!@@elitorres-realtor

Yes, there's alot of wishful thinking in this presentation. The entire point of the lawsuits is that sellers want to pay WAY less commission. Period. And there are Buyer lawsuits happening, too. They don't want to have to pay all of the commission in the purchase price, which is exactly what always happens. Basically, the agent compensation as currently handled isn't 'fair' to buyer or seller. Hence the class action lawsuits.

I do not want to pay dues to NAR any longer

@@BestCaseForRealEstate thats how I feel. Did they just throw all of us under the bus and give up...this is all insane. NOTHING exciting about this. She doesn't even say WHAT it is that is exciting...just a bunch of jibbers.

We are going backwards. Buyers won't be represented again. Then they will sue NAR again.

Yep

Ex Realtor here I'm setting up a national MLS platform for licensed agents with a unique angle

The old BBE is gone. Now you have to negotiate your pay in the agreement with your buyer explicitly.

Yes, as I mentioned in my comment our industry just turned into the Wild Wild West! We are going to see so much dirty practices. The DOJ will just change things again we they see how dirty some agents can get. Sad!

LOL .. not funny but funny

When you're a broker, everything is a wonderful opportunity

Agree, if you think about it people won’t pay a dollar to buy a song so they are not going to spend for representation

And you think the listing agents will represent you for free. You will have to pay them to represent you as your Buyer Agent.

@@adamblacketter buyers agents are going to get paid.. a lot less under the new rules.

@@ml9557 that’s your opinion, they don’t have to. Buyer brokers can charge their clients whatever they want and always could have. Buyer-Broker agreements have been around for decades, this isn’t new.

Lol it's not that simple. Read the settlement

@@marciamakoviecki3295 yes it is, I have read it.

the catch 22 is if the buyer is only paying one side the next question from the buyer is since I am part of a dual agency I feel the price should be reduced by the lessoned commission expense to the buyer. There is a lot more to this and most buyers will still want representation. ;-)

​@@legertonrealestateand they can pay a buyer's agent, it just may be $500 instead of $5000.

Buyers have been able to shop homes online for many years. That's not changing.

He has to, these brokers don’t want agents to leave the industry, that’s their bread and butter

Agree, this is bad for everyone. Especially the buyers

Why don’t you position yourself to take advantage of this change. Think outside of the box

1. The majority of buyers (especially first time home buyers) cannot afford commission so it will become the norm to have that be written in a contract. Seller will receive 1 or 3 offers (todays market is more like one if it’s an average home) and they will see BAC like they would seller credit. 2. As a buyers agent , I already set my commission as 3% personally. I’d tell my buyer if the listing BAC is 2.5 they’d have to pay 0.5. Now I’ll tell them the same thing and say how much would you like me to ask the seller to pay? And then write that into the contract. 3. For my listing I’ll prime the seller by saying I’m charging you 3% however expect most if not all offers to include a requested BAC because most buyers already are strapped bringing their down payment and closing costs that they need help with their representation. Even explain to them the way things used to be with sellers offering BAC in the beginning to show not much has changed.

One take away today … as Realtors we spend our time negotiating for our clients , seems like there will be a lot of time spent now on negotiating for ourselves , thus taking away time from the client.

As it should be… Why would a realtor work for someone without setting the terms with the buyer?

I mean is part of the job description

Who in the world would hire a listing agent? Would never use one. Did so once and it was a total waste on my money.

Zillow, Redfin etc al have already put a big divet in the market.

Companies are allowed to advertise compensation for each home on their websites.

Nothing

😂😂😂No, home sales price has to do with supply and demand….supply, or lack of, being the most important thing now. People aren’t going to stop needing a place to live because of buyers agent commissions. And what do you think buyers will due to their buyers agent, who they think is worthless anyway, if buyer keeps missing out on houses because buyers agent wants too much commission? Some agents are touting the comissions will go up….laughable. 😂😂😂😂😂

No, the buyers agent has to suck off the teet of the buyer now, not the seller. There is a separation of this coop where both agents sucking the teet of the seller. Buyers will have to negotiate the buyer commission with their buyers agent.

Is this AI? Just curious. Reminds me of something I could have Chat GPT come up with. Not trying to be rude. Just wondering.

Terribly funny. Just good writing. Do you use AI for your channel? Come on dude…not cool.@@stephanielittlefield9024

Check your email from this afternoon from Leo

@@stephanielittlefield9024 I do not see an email from him.

You are joining g a profession at this new beginning. You will not have any hang ups in doing your job, running your business and getting paid for doing your job!!! Good luck on your exam

Increase the playback speed if nothing else. 🤷🏼‍♀️

😂 perfect observation 😂

Clear as mud.. nothing exciting about this at all. I don't love where we are headed at all. LOL