Who's Responsible For Paying The Buyer's Agent? Lawsuit Over Buyer Agent Commission

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Is it going to be even more expensive to buy a house as a first time homebuyer?
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28 июн 2024

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Комментарии : 170

@rmhunt1867 3 месяца назад

I more thing i want to add..as a low income 1st time buyer i have done MORE WORK to find properties.. every agent i have worked with never sent me houses and said hey how about this 1.. they said when u see a house u want to see let me know

@TheeHuntress 3 месяца назад

😢Same here, with the last agent I tried to work with. 🤦🏽

@virginiaescalante2520 3 месяца назад

Exactly, we do most of the work for the agents. Plus, they never wanted to put the offer in. Or they wanted me to make an offer they wanted me to make regardless of whether I wasn't comfortable with the amount of the offer. We theppl are the ones paying for the home, not the agent.

@PrestonAWilliams 3 месяца назад

It’s very important you vet your realtor. Just like any profession there are good and bad realtors. If you realtor isn’t a full time realtor who invests in their business and training then you likely won’t get the full experience of what realtors do. Sometime people have a habit of using friends or family members instead of interviewing 2-3 realtors and going with the best one.

@ShaheedahHill 3 месяца назад

#facts @PrestonAWilliams

@oasisfullfilled7617 3 месяца назад

What happens is some buyers waste Buyer Agent’s time hence the reason why some realtors dont want to deal with it. Because sometimes you look with the client and all that work for nothing. I think adding a fee before you look is a good thing too

@7SideWays 3 месяца назад

I love that the public is finally engaged and asking questions. Buyer agency has been status quo 'free' lying to us for far too long.

@ShaheedahHill 3 месяца назад

@7SideWays Thank you for watching

@Smitty_34 2 месяца назад

What were they lying about?

@dadehd09 3 месяца назад

Buyer agent should just not be a thing. Just recently bought a home and all the buyer agent did was just wrote up a contract while i did all the work. Where is my commission!?

@empress4965 3 месяца назад

What work did you do if you didn’t write up your contracts and let yourself in homes? I’m sure they had to schedule your showings and let you in homes. Why didn’t you just find another agent? Now all of a sudden everyone saying they had a bad agent now that their services are no longer free. How convenient. 🙄

@talibahonyebuchi9980 3 месяца назад

Please agents explain why not a flat fee? Why are agents sharing in homeowners equity? Paper work (except jumbo loans) is the same...please explain. Thank you I used a realty company called Help U Sell and paid a flat fee. I did my open houses, realtor put on ML listing and contract paperwork

@ShaheedahHill 3 месяца назад

@dadehd09 Thank you for watching

@lisamccoy6167 3 месяца назад

@@empress4965I bought a home in 2012, and there where some bad ones back then.

@DG-fs1pq 3 месяца назад

@@talibahonyebuchi9980 This makes sense. I have seen realtors advertise flat fees in the past. $500 bam. You are not a lawyer. A lawyer should still be consulted.

@boondoggle4820 3 месяца назад

I’m worried that this will be really bad for homebuyers because they could be on the hook for fees whether they buy a home or not. Just searching for a home could cost a lot of money even if they don’t end up buying. The seller doesn’t have that risk. It’s better for everyone for payments to be made only at the time of sale.

@ShaheedahHill 3 месяца назад

@boondoggle4820 Thank you for watching

@lieaorganasolo 3 месяца назад

This is the first commentator that factors in what kind of market we are in currently in when it comes to if a sellar will pay for the buyer's agents fee. I know I'll be next time a sellar possibly, if the demand of my location, i don't see myself trying to pay for the other agents.

@ShaheedahHill 3 месяца назад

@lieaorganasolo Thank you for watching and yes, market is so important. If sellers have a lot of buyers then they can get away with not paying a buyer's agent, in a buyers market they will likely have to cover that cost to get their home sold.

@MikeLocke 3 месяца назад

Nice info and insight. I think we all need to see how this plays out a year or so from now. What will become the new norm, tbd. What do believe is, the field of real estate will not forever be a free-for-all system. Like every industry, the market will find a “norm” (state by state) and we’ll get accustomed to that. I believe there will need to be possible state law and lending changes to assist with 1st time and VA buyers.

@ShaheedahHill 3 месяца назад

@MikeLocke Thanks for watching and sharing

@conner1354 3 месяца назад

Steering is what the MLS was. When you say a guarantee 3%. The US has the highest Real Estate Fees in the world. This has to stop.

@ShaheedahHill 3 месяца назад

@conner1354 Thanks for watching and sharing

@ToOpen6seven 3 месяца назад

This is so good and so important, thank you once again, for you valuable advice and this pertinent information.

@ShaheedahHill 3 месяца назад

You are so welcome!

@jonlj77 3 месяца назад

& by the way buyers have always paid the commissions. It was built into the sale of the home. It just didn’t seem that way to the buyer. Prices will drop once these large commissions are gone. Sellers won’t have to raise or build in the price of the home to cover commissions.

@ShaheedahHill 3 месяца назад

@jonlj77 Thank you for watching

@pinkorganichorse 2 месяца назад

I like the paying by offer and buyer searches and views homes on their own.

@ShaheedahHill 2 месяца назад

@pinkorganichorse Thank you for watching

@TripleBMe 3 месяца назад

It’s like something’s always hitting the fan, went back to school Covid hit, pre-approved for a house now I have to deal with this as a first time buyer 😩

@ShaheedahHill 3 месяца назад

@TripleBMe Thank you for watching

@mprrx 3 месяца назад

Watch "Up" the movie.

@SOLDbyNat 3 месяца назад

Thanks for bringing up buyers flip flopping. Like deciding to go through the listing agent on certain homes. The buyer contract or stips have to be written against this. That would be so unfair to work with a buyer for months and then they decide on a particular house to ditch you. That’s too much uncertainty & I will not work for free 🙅🏾‍♀️.

@ShaheedahHill 3 месяца назад

@SOLDbyNat Thank you for watching and sharing

@jameliabrown230 2 месяца назад

This is very informative and how you explain the concept is so interesting and simplistic! I’m with Keller Williams Cherry Hill in NJ. I would love to be included in your referral network!

@ShaheedahHill 2 месяца назад

Thanks for watching and email me at info@shaheedahhill.com with your info

@lisamccoy6167 3 месяца назад

I agree that this would impact most first time home buyers, but agents can be impacted also. Some Agents may have less clients now. I have bought and sold, when I bought I didn't pay. But, when a I sold I paid 5%.

@ShaheedahHill 3 месяца назад

@lisamccoy6167 Thank you for watching

@dlinder7 3 месяца назад

As an active agent in Ga, while this lawsuit is going on in my opinion comes down to lack of knowledge of how the home buying process works. Literally that simple. Thanks to Mrs. Shaheeda for continuing to provide essential knowledge as I try to as well.

@ShaheedahHill 3 месяца назад

@dlinder7 Thank you for watching

@ValerieBennett-vh2bt 2 месяца назад

Shaheedah, I work with ERA Summit, a new broker for almost a year in Albuquerque, Rio Rancho, Bernalillo, NM. Thanks for explaining this NAR legal issue; it truly helped me understand it.

@ShaheedahHill 2 месяца назад

@ValerieBennett-vh2bt Thank you for watching

@djiniveebenza2622 3 месяца назад

I will say please do your due diligence, learn and buy the master class. I am closing on Monday 3/25, I found my property myself, it is a new construction, the day of the contract I was thinking to negotiate the price, but my agent said directly to me and my husband that they will reject my offer if I don’t give them the full price because the house was already appraised for more. I refused to listen to her and I cut 5000$ to my offer and it was accepted. I told her upfront that I am believer and God is in my side. Then I listen to Shaheedah advice, I asked her to give me a 1000$ gift card because she did not do much work. And yes she did. Please just know what you want and learn.

@ShaheedahHill 3 месяца назад

Thanks so much for sharing and for buying the masterclass, your closing is today!! Congratulations and many blessings in your new home.

@Jason-zl2yw Месяц назад

The class action lawsuit on the used house sells people was a long time coming. The market is now in a downward spiral and adding 5-6% to pay the UHS to open the door needs to go away. That % will eventually be gone just as the legacy of travel agent. This all saves the 5-6% the buyer actually is paying which the used homes sellers have added to their purchase price or mortgage.

@juanmyers2635 3 месяца назад

I'm going to sell a house and I was going to have my realtor list it in April but since hearing this good news goes into effect in July. I can wait until July to list. No rush to sell.

@ShaheedahHill 3 месяца назад

@juanmyers2635 Thank you for watching

@danielalonzo7445 3 месяца назад

My brother purchased an empty lot in Mexico. The lot was an in established neighborhood. The agreed price was $50k. On the day of the final transaction, we went to a law office (public notary) in Mexico, everything was in writing and video taped. We also hired two armed security guards just in case of trouble

@ShaheedahHill 3 месяца назад

@danielalonzo7445 Thanks for watching and sharing, armed security guards, wow😨

@mprrx 3 месяца назад

Do You have Mexican nationality? Because For what I heard. Only nationals can buy directly.

@DG-fs1pq 3 месяца назад

One, the houses are not worth what they are being sold for. Two, this is all the result of greed. People keep overpaying and sellers just want more. This is the result. I appreciate your time making this video. This is going to be different. One thing that will definitely help is a balanced or buyer's market. MESSAGE!!! Starve sellers to create a market conducive to the times. Home prices must come down. The longer those houses go unsold and sit on the market, you are right...things work out for the buyer and buyer's agent. That is what we want. Regarding VA buyers...I am a VA buyer and have considered new construction.

@ShaheedahHill 3 месяца назад

@DG-fs1pq Thank you for watching

@MrVick-hh3dy 3 месяца назад

This will drain the swamp to many money hungry realtors. Also, will this make it even harder for average persons to buy a house? This lawsuit was crazy if you asked me. 6% was average with a slit of 3% seller and listing agent no one was being defrauded.

@ShaheedahHill 3 месяца назад

@MrVick-hh3dy Thank you for watching

@mprrx 3 месяца назад

Is the broker...he/she gets a cut.

@therealjonasmancuso 3 месяца назад

Realtors facilitate and assist in the purchase/sale of someone's largest asset. If you go and sell expensive artwork you can expect to pay 10-12%. If you go sell a classic car at an auction you will pay 10%. But the largest asset you have represented by someone who needs a license, and has liability in the process, wants 5% - that they have to split with someone else, and that's too much?????? Give me a break. Also, I see all kinds of people saying as a buyer they will just go to the listing agent. That is literally illegal in over 8 states. The listing agent is under contract to represent the seller. Why on earth would a buyer want them representing them as well? There is NO benefit in doing so and tons of liability. By the way that is the number one cause of real estate law suits. There is so much mis-info going around. And if you are waiting for home prices to come down because of this........lol.........home prices are and will always be based on supply and demand. Best to all.

@ShaheedahHill 3 месяца назад

@jonassellsaz Thanks for watching and sharing

@thegreenplantern3033 3 месяца назад

This will make a lot of these “IG” buyers agents who’s horrible… start to work! Especially when a person is personally paying the commission 😂

@ShaheedahHill 3 месяца назад

@thegreenplantern3033 Thank you for watching

@catherinek3409 3 месяца назад

This will make it awesome for wholesalers because it takes a lot to market a home. It may force sellers to reduce prices to move the home because they don’t want help marketing their homes.

@ShaheedahHill 3 месяца назад

@catherinek3409 Thank you for watching

@stephenmadison3401 2 месяца назад

I predict the listing agent will end up doing both sides of the transaction. No "first time buyer" will ever write a $12,000 check for 3% of a (say) $400K property to a "sellers agent" to help them qualify for a mortgage and then find them a house. Fewer agents. This is good. Happy Day!

@ShaheedahHill 2 месяца назад

@stephenmadison3401 Thanks for watching and sharing

@CantKnockTheHustle-zx1bk 3 месяца назад

A buyer is not going purchase a property pay all that money and pay a realtor… so all buyers should wait until July see if home prices fall and find listing on their own you can buy without a agent I felt robbed every property I sold which sold it self . I should of sold the homes on my own never again If a listing agent refuse to show you because you don’t have a buyer agent you can sue for discrimination

@ShaheedahHill 3 месяца назад

@CantKnockTheHustle-zx1bk Thanks for watching and sharing

@boondoggle4820 3 месяца назад

And what if it doesn’t work out with your buyers agent and you need to end their representation. What recourse do you have if you have signed a contract?

@ShaheedahHill 3 месяца назад

@boondoggle4820 Thank you for watching, you can terminate your contract, read the part about termination, but it is usually a pretty simple process. Because termination is simple...more agents may charge upfront fees.

@pejon2269 2 месяца назад

I have started my RE in Mn in 1994 and then moved down to FL from 2000. I have never been successful in it because of things like you're talking about. I didn't go with the flow. RE business is mostly unfair. There is a lot of price fixing, steering, manipulating etc. Through the years I lost a lot of clients because I was honest. I have never been a member of any RE association because I think we don not need them. It is all a crime what's being allowed in virtually every state in the US. You have agents not showing their buyers the properties that pay low commission ... that is unethical and should be a crime as well. NAR and local associations advertise their code of ethics classes ... and the more classes agents take the more unethical they become. All the agents see is $$$. If they have to - they will lie to you in heart beat ... and it is not illegal to lie in America.

@ShaheedahHill 2 месяца назад

@pejon2269 Thanks for watching and sharing

@myesha4670 3 месяца назад

I wonder if new construction builders will cover the buyers commission

@BrittanyJacksonTV 3 месяца назад

I was wondering this too…they offer incentives to lure new buyers in I wouldn’t be surprised if commission was one of them

@cebrinachandler1708 3 месяца назад

I just bought a new build home and the builder offered a $ incentivize towards closing costs. If you’re buying a new build, you really shouldn’t need an agent. The agent did absolutely nothing but send me the listing.

@empress4965 3 месяца назад

@@cebrinachandler1708 That depends on the builder. A lot of builders can get over on people easily when they show up without an agent.

@fosiko123 3 месяца назад

if its new construction; you really don't need a buyer agent per see

@ShaheedahHill 3 месяца назад

Great question, they are probably having meetings about this now. DR Horton, Lennar, etc.

@chicog24 3 месяца назад

I would suggest everyone to have multiple streams of income. It seems like the conspiracy to have everyone on government social programs in 15 minute cities are being implemented. Where the government provides housing and basic income for most Americans. I bought last year and both agents on either side and the seller and me as the buyer all were happy. This also makes me think of a report where AI takes place of agents. We never know but I was satisfied with my deal

@ShaheedahHill 3 месяца назад

@chicog24 Thank you for watching

@lovpinkdiamonds 2 месяца назад

I guess I’ll never be able to buy a house

@MrBigBoy4Life 3 месяца назад

There needed to be a shake up in the industry! The status quo was just not fair to especially to the seller. I mean, a realtor come in, has never cut a blade of grass, paid any maintenance to my home, never helped pay my mortgage or taxes, never assisted with any renovations to my home, but yet gets a cut on my hard earned profits simply by taking some pictures of my home and performing basic tasks that I could have easily done? That was just not sustainable.

@naturegirlbb100 3 месяца назад

I prefer a private sale offer.😅

@ShaheedahHill 3 месяца назад

@MrBigBoy4Life Thank you for watching

@charnamosely372 3 месяца назад

Hate I missed the live

@ShaheedahHill 3 месяца назад

😊I'll be live again next week during my normal time...Thursdays. Thanks for watching the replay

@sag6310 4 дня назад

Most homebuyers are the ones usually finding the house not the agents.

@ShaheedahHill 4 дня назад

@sag6310 Thank you for watching

@shantellways6860 3 месяца назад

I wonder house prices and interest looks like now that this is play?

@ShaheedahHill 3 месяца назад

@shantellways6860 Thank you for watching - I don't think it will have much impact on home prices or interest rates.

@hopeinajar77 3 месяца назад

How much does an open house cost 😳?!... As a first time home buyer, I may have to stay renting until I graduate from law school so I can make this ALL work for ME too !!! . Idk that I want to pay someone for showing me a house especially when I’m the one finding the house , just give me the code to the door (like they do when you are renting, you leave your ID at the agency and simply I go look and come back , they do this with key properties too). Humans sure know how to complicate things in an instant or make money for doing the bare minimum ( all of your time in life just won’t be compensated, it’s just not how life work). All the extra is becoming a turn off for me ! I don’t know if I even want to purchase a house now . PMI is already a deal breaker for me , now this . SMH

@ShaheedahHill 3 месяца назад

@hopeinajar77 Thanks for watching and sharing

@hopeinajar77 3 месяца назад

@@ShaheedahHill always and thank you for the education. Having the facts relating to one of the biggest decisions we will probably make in life is very helpful.

@mommom3172 3 месяца назад

You make it sound so simple. Most homes for sale are occupied. Sellers do not want unrepresented random people from the internet walking through their home. Additionally, in a hot market you may want to have someone looking for homes before they go onto MLS. A good agent knows other agents and is always networking to find out about homes before they are published. Are you comfortable DIYing the purchase of what will your single largest asset. If you go straight to the listing agent, they work for thr seller. The are a professional negotiator. Are you prepared and do you even know what terms you can negotiate on? Do you know the 10-15 people you need to coordinate & manage on your side of the transaction & their deliverables in time for closing. Because if there are delays on your side of the transaction and it causes a closing delay, you can breach the contract and lose your deposit or if the seller is willing to extend, they may required you to lay them a per diem for every day your delay lasts for their inconvenience. SO many things that can go wrong. Definitely not a good idea to go it alone with no experience.

@ashdav9980 3 месяца назад

There is not a chance in hell as a seller I would give the keys to random strangers to enter my house unattended. People have gotten so lazy they can’t even see how ridiculous they are…..want to live their life from the app on their phones and anything extra is considered too much. 😂😂🤡

@KBE-Life_ 3 месяца назад

So are real estate agents on the hook for NAR settlement lawsuit? Will fees go up?

@ShaheedahHill 3 месяца назад

@KBE-Life_ Thank you for watching, I think our fees will go up, but they have to balance agents already leaving the profession and them getting less revenue and people not renewing due to all of this. But I get my contracts from the the Georgia Association of Realtors, its just a little bit more to join the board.

@mprrx 3 месяца назад

Yet to hear, will it be a cap in the commission issue? Whats the side of the broker owner and their share?

@ShaheedahHill 3 месяца назад

That depends on the individual brokerage as to caps and share of commissions. @mprrx Thank you for watching

@50kArchipelagos 3 месяца назад

How many actual hours of labor are involved for the average sale. 40?

@ShaheedahHill 3 месяца назад

@50kArchipelagos Thank you for watching I think they all are different, but I would say way over 40 hours, depending on the amount of showings, offers, etc.

@jesslocd 3 месяца назад

In my experience as an active agent it can take weeks, sometimes months of showing buyers homes before they choose one. So we must consider the agents time. Many agents spend their time showing properties every weekend which is time spent away from their families. Also driving to the different properties can be lengthy. I’ve had clients who live an hour or more away and I’m driving to them multiple days per week. We also spend time searching for fitting properties, work back and fourth with other agents and offices to schedule showings, negotiating , preparing the contracts, talking to lenders or loan officers on your behalf, etc. In the end, after weeks of work, the client may decide to not purchase a home at all.

@conner1354 3 месяца назад

When we sell we will not pay the buyer's agent fee.

@ShaheedahHill 3 месяца назад

@conner1354 Thank you for watching

@missjones8123 2 месяца назад

This makes me feel hopeless uggh all these changes 😢

@ShaheedahHill 2 месяца назад

Don't feel hopeless, this is new...and there is a lot of information flying around. I will do follow up videos for sure to help first time buyers navigate these changes.

@lpeacelovefaith9566 2 месяца назад

So, if agents start charging a flat fee, does the broker get their percentage of the flat fee?

@ShaheedahHill 2 месяца назад

The broker will still get their fee, so when agents think about setting a flat fee, they will have to account for that. @lpeacelovefaith9566 Thank you for watching

@naneezay 3 месяца назад

Sis…I just became a realtor last month in PA and I’m glad I came across your page. There are still a lot I need to learn and I believe your channel will definitely keep me informed and I appreciate you sis. And yea this NAR thing caught me off guard. I still need to enlighten myself about this lawsuit and I plan on watching all your vids…keep soaring high Club Shasha 😅🫡

@ShaheedahHill 3 месяца назад

You are getting in at a crazy time, but it will be worth it. Learn the business and serve both buyers and sellers and you will be fine. Best of luck to you in your new career.

@Liverootz 3 месяца назад

Sound like Zillow and Renfin will get all of the business!!!😢

@ShaheedahHill 3 месяца назад

@Liverootz Thank you for watching ....Zillow stock dropped significantly after this settlement was reached, Zillow make a lot of its money from selling buyer leads.

@conner1354 3 месяца назад

Yeah buyers finally have to pay their share. The agent fees are not baked in the price of the home. The home price is based on other homes that have sold and what the market can bear.

@ShaheedahHill 3 месяца назад

@conner1354 Thank you for watching

@cookies4582 3 месяца назад

Takes shot evertime Shaheeda says the word agent😂😂😂😂😂jk

@thegreenplantern3033 3 месяца назад

Glad I’m driving and watching 😂

@SuperBre94 3 месяца назад

If I could drink I would take a shot. 😅😂😢

@ShaheedahHill 3 месяца назад

😂😂😂🍾

@kandiloois2881 3 месяца назад

Oh my I’ve been tolerant of not purchasing a car. Talk about sacrifice. Finally pre approved and once I buy I will lease a car only bc you will have a lower monthly payment

@lovpinkdiamonds 2 месяца назад

Who sign this into law

@ShaheedahHill 2 месяца назад

Its not really a law but a change in policy, you will still be able to buy, it will just change the way you buy. Thank you for watching.

@conner1354 3 месяца назад

It was an equity stealer. An sellers should have never had to pay the buyers agent. $60,000 grand for agent's fees is horrible.

@ShaheedahHill 3 месяца назад

@conner1354 Thank you for watching

@whisper23 3 месяца назад

Buyer agents will start to double deep and get paid from both sides.

@ShaheedahHill 3 месяца назад

@whisper23 Thank you for watching

@jonlj77 3 месяца назад

This is a win win for Americans. The only salty ones are the people in the industry who got to ride the 6% gravy train off the backs of hard working Americans.

@ShaheedahHill 3 месяца назад

@jonlj77 Thank you for watching

@qboracle629 3 месяца назад

Is it possible to buy a house without an agent?

@empress4965 3 месяца назад

Yes but you may loose your money and get a shitty deal. It’s a big risk to take especially when dealing with builders for new construction.

@chrisaugustine7394 3 месяца назад

Yes, You can send your offer letter. Once your offer is accepted, you contacted your loan officer and they begin the paperwork, you also have to get your own agent for inspection.

@lobacotable 3 месяца назад

People do it all the time. Realtors make it sound like it's impossible or that you'll lose all this money. Not true. If you have a brain, the internet, and common sense you can go buy a home without a realtor. NAR created the MLS to basically force people to use realtors. Now realtors (and the public) make it out like you MUST hire a realtor to buy/sell. It's ridiculous. No shade to Shadedah --I value her and I can tell she is knowledgeable and really wants to serve and educate, but a lot of these realtors just want to make a buck at your expense, plain and simple.

@TheeHuntress 3 месяца назад

@@lobacotable💯 I just want to buy my first home and sleep in it. This whole process of dealing with all these people instead, is so frustrating 🤦🏽

@empress4965 3 месяца назад

@@TheeHuntress That’s why you hire a Realtor. The average person does not have the time or knowledge to go at this alone. It’s not as easy as people think especially in a Sellers market.

@jayrod.2252 3 месяца назад

I dont need a realtor to buy a house

@ShaheedahHill 3 месяца назад

@jayrod.2252 Thank you for watching, you are correct you do not. You do not need one to sell or to buy.

@SOLDbyNat 3 месяца назад

@@ShaheedahHillYou’re so graceful because I’ve typed and deleted several times 😏.

@ShaheedahHill 3 месяца назад

@@SOLDbyNat Hey Nat🥰, you know it is sometimes not worth our energy. 😊 Because I did the same thing....and decided to move on to other comments.

@rmhunt1867 3 месяца назад

I am disgusted ..this is REDICULOUS.. keep kicking low income home buyers in the knees.. Forcing buyers into the hands of sellers agents is not in your best interest in most cases.. they work for the buyer, they want the house to sell for more so their commisions are bigger..