You won't believe what NAR just did! This commission settlement changes everything.

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#NAR #narsettlement #buyersagent #homebuyers
You won't believe what NAR just agreed to. On March 15th 2024 NAR agreed to settle a nationwide lawsuit which now can force buyers to pay real estate commissions if the seller does not pay them. Real estate commissions will now be moved off MLS, sellers can still pay the commissions if they choose, however, they cannot advertise commissions on the MLS starting in mid July 2024. This could potentially put further burden on home buyers, as they will likely have to pay for a realtor now. The National Association of Realtors has not settlement this nationwide lawsuit ending commissions in the multiple listing system.
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27 окт 2024

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Комментарии : 137

@gottagowithjoe1 7 месяцев назад

I haven't done a 6% listing in years. It has always been negotiable and then when I break it down for the sellers when the most important thing is what you walk away with and not what you're paying and you don't pay it until you go to settlement.so my sellers understand that they'll walk away with more money at the table if they pay a buyer agent so nothing has changed in my world

@rtobx 7 месяцев назад

I've been a REALTOR for 36 years and we are a buyer agency state with signed buyer agency agreements... I sympathize with the state's having to incorporate signed buyer agency agreements and deal with this mess created by greedy attorney's and the DOJ at the same time, in less than 4 months. Lisa, you are absolutely correct, this is such an injustice for the buyer (VA, FHA, 1st Time, low income etc..) and will surface many unintended consequences for the real estate industry as a result, not to mention discrimination. Such a tragedy, particularly when it is obvious the buyer and seller already share in the cost of the commission. There would not be a commission if it wasn't for the buyer in the first place. Now let's just make it harder for buyers, unbelievable!

@TheRealLivingWithLisa 7 месяцев назад

You nailed it my friend.... my point exactly.

@markme4 7 месяцев назад

This will only reduce the buyers purchasing power and reduces the number of qualified buyers, which will force sellers to lower their asking price

@TheRealLivingWithLisa 7 месяцев назад

I agree and many sellers will not see this.. until the house sits.. or they sell out to an investor, which is what I think they want anyway..

@marciamakoviecki3295 7 месяцев назад

Yes, it will not be an issue for investors @@TheRealLivingWithLisa

@MariaSantana-je7dm 4 месяца назад

Lisa…. Not question on that …. It is made by design…

@TheRealLivingWithLisa 4 месяца назад

@@MariaSantana-je7dm Agreed~~

@krisb7465 7 месяцев назад

Home sellers have been gouged for years paying 6% commission to be split between the sellers and buyers agents. Time it stopped. Sellers should not pay more than 3% commission, and the listing agent can split that with the buyers agent and that is still plenty of money for each agent.

@marciamakoviecki3295 7 месяцев назад

I think flat fees are even more likely. It generally takes the same effort to sell a $900k house as it does a $200k house, but the commission is often 4x higher..

@floydestelle6242 7 месяцев назад

But, the office doesn't get anything

@Gardis72 7 месяцев назад

No this buyer isn't going to pay the commission that has been historically paid by the seller. This buyer is going to reduce their offer by the amount of the added commission. SO, call it what you want, the seller is still paying it. I have NO IDEA what this lawsuit proved, and WHO was harmed by this in the first case.

@TheRealLivingWithLisa 7 месяцев назад

No one was harmed.. every seller signed a contract outlining what they were willing to pay.. but I can tell you who benefited.. attorneys.. and big government.

@Janet-e8z 6 месяцев назад

Sadly, these days you can now file a case or sue something or someone even without any harm 😅

@andrewdonlon1649 7 месяцев назад

It all comes out in the settlement statement. There’s no up front cost to a buyer. The listing agent (Seller Agent) negotiates a commission to sell a property for a Seller. Likewise, the Buyer Agent negotiates a fee with his agent. Both Agents will have a fiduciary duty to their “client”. It’s not complicated at all.

@TheRealLivingWithLisa 7 месяцев назад

Most buyers in todays world can barely afford to buy the house, yet pay commissions. Think about it...where does the sellers profit come from? THE BUYER...... so, in my opinion, since the seller would not make a dime, without the buyer, he should be a participant in the buyers agent commission. Sellers need buyers...

@andrewdonlon1649 7 месяцев назад

Strange rationale. Makes no sense.

@stevek2662 7 месяцев назад

So much for the "Fair Housing Act". They just threw that in the trash can with all this going on!

@bigred8752 7 месяцев назад

This is crazy. Buyers are getting kicked. Sellers have always paid commissions. Do not like this move.Great video!

@TheRealLivingWithLisa 7 месяцев назад

I don't like this movie either~~~ 😂

@CorvusAlyse 4 месяца назад

I’ve never really been one of those people that wanted to own a home. Land, yes, but an actual house, no. I’m more of a diesel powered, A level RV, large enough for however many cats I have at any given time, some place to park it for a few months at a time, always circling back to that property, a place I can have a large barn built, time to drag everything out of the RV and make any necessary repairs, and then repack and I’m off to visit friends again. My whole life, and I’ll be 52 later this year, I’m single, kids are grown, maybe build a couple of tiny houses on that property so they always have a place to stay, but no main house. I dunno if that makes me more of a landowner than a homeowner, as no main house, and I do want a few acres.

@theGHSV 5 месяцев назад

Looks like the NAR attorney you referenced on the call you were on a month ago was wrong (not shocking). Unrepresented buyers do NOT need to sign a buyer agency agreement to tour properties when calling the listing agent directly (as I said). That information is now included is the NAR’s updated Q&A version on their website. Just wanted you to have that clarification.

@LeeLee-ye1rs 7 месяцев назад

What a crazy system..as a recent buyer of 2 replacement properties I can say I would have reconsidered a few of my choices if I had to pay the commission. I value my realtor but the commissions on 2.5m would have to huge

@Richard-t2b 7 месяцев назад

6% commission is unconscionable. Wine,wine,wine…😢 😢 😢

@sandralenins4094 6 месяцев назад

Well we now have a new probelm that I saw coming and why NAR did not does not surprise me one bit. NAR is unless to REALTORS! First and MOST IMPORTANT NO ONE EVER WAS REQUIRED TO USE A REALTOR FOR ANY REASON! NOT A REQUIREMENT! A choice, now we have an attorney, gee are we surpriced, that has filed a law suite because for the BUYERS SIDE???? He clearly said he did not use one, he did not trust them but agents preferred a client that had represntation? Again that is not a requirement in NC! So is this the next class action lawsuit? DOJ NEEDS TO STOP ALL OF THIS! Which Business is next that gets paid on a commmission? If you owed a compnay that had branches all across the country and one company did wrong things do you punish everyone that worrk for your company? Is that not what NAR is doing to us...

@badkarma1289 7 месяцев назад

IIRC, you work the Treasure Coast area, but I was wondering if you know about the unique situation within The Villages? They have the VLS - all new homes must be sold via a Villages sales agent, any pre-owned home listed in the VLS must also be sold via a Villages sales agent. Any pre-owned home listed in the MLS can be shown/sold by any "outside" real estate agent/realtor. How do you think this NAR situation will affect that market? And yes, they are importing a permanent majority via our southern border.

@sandralenins4094 7 месяцев назад

Now that seems like a issue,!

@retiredsailor2 7 месяцев назад

The agreement with my buyer’s agent will include a clause the offer in the house will include an x% reduction in the selling price to cover my agent’s commission.

@michaelcampanale6649 7 месяцев назад

Very VERY Well Explained - Thanx .... mvc

@TheRealLivingWithLisa 7 месяцев назад

Glad it was helpful!

@therealjonasmancuso 7 месяцев назад

Seller ARE buyers too. So nothing is changed. Just screwed up. Thanks DOJ!!! Also - thanks for your video.

@MrEverth007 7 месяцев назад

You are so right. This does not help buyers nor sellers.

@WhiteOrchid18 7 месяцев назад

I wonder how this would've all played out if this ruling was in effect back in 2008 forward 🤔 maybe less foreclosures? Less bank bail outs? due to false homeowner affordability in the first place. Agents bank on buyers emotional purchases, the same reason I exited the business years ago.

@duanemcmullen3295 7 месяцев назад

I am shocked by the number of people that don’t understand what this ruling means for their future real estate transaction costs! You are exactly right when you say the home price will not be reduced by the buying agent’s commission percentage. Wake up folks. The typically most expensive purchase you make in your lives just went up at least 3% to 4% due to this ruling. Yep…you will have a hard time owning anything but of course you’ll be HAPPY. LOL

@TheRealLivingWithLisa 7 месяцев назад

Thank you for your comments Duane. I do think buyers will get a discount on the percentage, but, it's still more money out of their pockets.

@KAZHE63 7 месяцев назад

@@TheRealLivingWithLisawhy do you think that? When a seller and their agent KNOWS the buyer has already signed a committed contract to pay the BA, why on earth should seller offer anything? This is going to be a disaster.

@TheRealLivingWithLisa 7 месяцев назад

@@KAZHE63 it IS a disaster I agree, every transaction will play out differently. Buyers may pay a portion of the commission if the seller is willing to kick in anything... or they may pay ALL of it. I think the buyers agent will start charging by the hour to show property... and deduct those fees from the commission, if the buyer "actually" makes a purchase. People will try to game the system, It's the only way to protect yourself from working for free.

@Gardis72 7 месяцев назад

Again, in markets where there is increased supply like right now in many areas of So. Florida, the buyers will simply that that commission off their offer price. Where the market is red hot (where is THAT again??) that won't work. But that era is over with the pandemic.

@peterwilliams2889 7 месяцев назад

If you can’t afford to hire your own Realtor or Advisor you shouldn’t be buying a house.

@floydestelle6242 7 месяцев назад

Sounds like a some sour grapes. I bought my 8 houses, i paid over 100000 in realtor fees! Not moving, on my last move now!

@danielbaird7419 7 месяцев назад

I see a lot of changes coming to the real estate business. I think sales will drop radically and a lot of agents will be going into different occupations. The easy money is coming to an end a lot because of the internet. I believe many people will never own their own home as they would have before. Times are tough and not getting any better. People who vote for a living will be enabling the controlling politicians to turn America into a socialist republic. Well, so many wanted something-for-nothing, now you will see the repercussions. It’s getting difficult to tell the difference between a lot of people and a Christmas turkey.

@sandralenins4094 7 месяцев назад

I assume that you never worked in the Real Estate business, I have 42+ Years and it is NOT EASY Money, we spend a LOT of our OWN money in the proccess, we work days, evenings, weekends, holidays and we do not get paid a DIME (at least most of us) UNTIL A BUYER comes to the table,. Seller knew from day one what they were paying no FIXED Commssions in my State! How many other Professions work like we do for FREE till a home closes? NAR is throwing EVERYONE, Agnents, Sellers, Buyers under the BUS! I Do not understand why they settle, NAR NEVER told ANYONE what to charge in Commissions!

@Aleks87632 6 месяцев назад

you are right. real estate agents become a joke. all they want is high commisions and sell something as fast as possible. three years ago my realtor was so upset i did not made an offer after 3 showings. she pressed a lot even lied about flood zone

@danielbaird7419 6 месяцев назад

@@sandralenins4094 You are partially right. Never a realtor but over 30 years in sales 20 of which paid by commission only. Good days and bad days. Good months and bad months. Lucrative accounts and bad. All that matters is pay at the end of the year. I’ve had my pay structure changed and I adapted as you will have to. Real estate agents are just pissed because their easy gravy is about to come to an end. You have been enjoying playing in a rigged game. Since you have been enjoying life in the best of times for real estate, I suggest you retire now. Technology is changing the world.

@MariaSantana-je7dm 4 месяца назад

I am so agree with you!

@jasonrich9951 7 месяцев назад

I have a question, why can't the real estate agents do a flat fee instead of a percentage?

@TheRealLivingWithLisa 7 месяцев назад

They could, but it should still be tiered upon price. For instance, the due diligence on a luxury property provides for substantial more work.. waterfront properties, with boat lifts, sea walls etc.. all require a certain expertise.. and you need to be paid for that.

@laneo 7 месяцев назад

It's exciting!

@KAZHE63 7 месяцев назад

As a late summer VA buyer, I will not sign or pay a buyer’s agent. Nor will I finance it. I will either use listing agent or leave my funds in investments for now.

@TheRealLivingWithLisa 7 месяцев назад

The listing agent represents the seller.. buyer beware. Duel agency is illegal in most states.

@LOVEIDUSA 7 месяцев назад

Sellers Agent representing the buyer too can be done with proper disclosures signed. But in most cases, it is not in either parties best interest to have one agent represent both sides.

@noellecms 7 месяцев назад

Dual agency are more likely to be sued by hungry, jobless lawyers. Dual agency is the cause of this whole mess to begin with.

@cindyonyoutube 7 месяцев назад

Definitely bad for buyers.

@TheRealLivingWithLisa 7 месяцев назад

Yes.

@jalto2464 7 месяцев назад

Great video! Thank you for speaking the truth!

@TheRealLivingWithLisa 7 месяцев назад

Always!

@kathys9173 7 месяцев назад

If a buyer wants to go directly to the listing agent, do thye also need to sign a buyer's agreement with that agent before they see the house?

@TheRealLivingWithLisa 7 месяцев назад

Yes, any realtor who has is a member of MLS is required to have the buyer sign a buyer’s agent agreement, if you are calling a listing agent, who represents the seller, you are now asking him to represent you too.. very dicey.. duel agency is illegal in most states, he would need to act as a “transaction “ agent.. and can only do this if he has not agreed to be a single agent for the seller.

@marciamakoviecki3295 7 месяцев назад

@@TheRealLivingWithLisano, dual agency is allowed and common in most states.

@TheRealLivingWithLisa 7 месяцев назад

@@marciamakoviecki3295 Dual agency is a fiduciary act.... you're thinking of transaction" broker

@theGHSV 7 месяцев назад

@@TheRealLivingWithLisaThe answer to the comment is no. An unrepresented buyer can call the listing agent directly to view the property. They are acting alone without an agent. If there is no buyer agent there is no buyer agency agreement. The listing agent can’t then just swoop in and tell that potential buyer they need to sign a buyer agency agreement with listing agent to view the property.

@TheRealLivingWithLisa 7 месяцев назад

@@theGHSV actually, they can. People who want to view a home, "if its listed" , will need to contact the list agent or another agent. Period. They "might" be allowed to view it through the list agent BUT, if they want to write an offer, they have to sign the agreement. I was on a conference call with the NAR attorney and it was communicated that all buyers will need to sign before viewing a property regardless of who shows it. ANY agent who is a member of MLS MUST have this agreement signed. So Mr Buyer is going to sign either way.

@bobneedham6224 7 месяцев назад

What real estate you tubers seem to believe, and say, that the best way to get buyers is by offering a higher commission to the buyers agent. This completely ignores that it is both unethical and illegal. Offering a higher commission to buyers agent is a conspiracy to defraud the seller.

@doc5106 7 месяцев назад

So your saying I should use my profit from the sale to pay buyers agent how is that fair I’m already paying the listing agent

@TheRealLivingWithLisa 7 месяцев назад

A buyers agent needs a “reason” to sell your house, they do not work for free.. the buyer has to come up with substantial funds in order to buy. An additional burden will remove many buyers from the market, your home will take longer to sell .. and there’s a high probability investors will step in so they can turn your home into a rental . Investors love this.. the seller is making money “profit “ but who is he getting the profit from? The BUYER.. if it weren’t for the buyer you wouldn’t make any profit. It seems you want to have your cake and eat it to. I do thank you for your comment however.. I DO respect your opinion. ❤

@kevincranna7334 7 месяцев назад

The “reason” is the problem. The agent doesn’t have the buyers interest in mind, just stuffing their pockets. They steer the buyer towards properties that they will benefit the most from. In fact, the buyer agent is incentivized to make the sale price as high as possible. They need to be paid a flat fee/ hourly. These real estate agents keep saying this settlement will hurt buyers. This is true IF both agents want nothing to change and try to skirt the system and go for 6% commission

@maryros3249 7 месяцев назад

Sale by OWNER and closed in Title company. Good

@TheRealLivingWithLisa 7 месяцев назад

As long as you know how to draft contract , addendums and understand your state laws.

@WhiteOrchid18 7 месяцев назад

It's not rocket science.

@Aleks87632 6 месяцев назад

@@TheRealLivingWithLisalawer is an answer. many states require it anyway

@leonorperez5439 7 месяцев назад

Hi Lisa, first, let me say you look fabulous!! 60😮 wow! Cheers 🍷🍷😊...I'm not sure how i feel about this situation I'm currently a homeowner but may sell not to far down the road and will have to purchase again so It's tricky.

@TheRealLivingWithLisa 7 месяцев назад

Yes, tricky for sure..... my advice is offer something, even if its a lower amount to the buyers agent to soften the burden on the buyer and move the sale quickly. That is of course, providing you get a respectable offer on the price. Thank you for your comments.

@leonorperez5439 7 месяцев назад

@@TheRealLivingWithLisa Thanks Lisa😉

@nelitatanner2277 5 месяцев назад

Hi Lisa, will the Seller's agent still charge the going 6% to sell the property or will they now do the job for 3% and is that negotiable?

@LOVEIDUSA 7 месяцев назад

1. NAR must have horrible lawyers. 2. Zillow, Amazon, and Blackrock celebrating this settlement. 3. Public is clueless and is the biggest loser with this change.

@scottalancummingsmba-realt55 7 месяцев назад

I think it's terrible and agree 100%.

@davidhooper259 7 месяцев назад

Ibuyers proved real estate agents are a joke. All you need as a marketing website to find a marketplace for your buying or selling goal. The keys to check out the house, a decent contract to agree upon and home inspector. Brokers are worth less than nothing.

@TheRealLivingWithLisa 7 месяцев назад

Well.. we will agree to disagree.

@LOVEIDUSA 7 месяцев назад

You are not very educated about the home purchasing process .

@davidhooper259 7 месяцев назад

@@LOVEIDUSA I flip homes. I’m confident I am

@noellecms 7 месяцев назад

@@davidhooper259I’ve been investing since the 90s. Just sold my last rental in 2022 I still use real estate agents. I think that is the most efficient way to market my properties and another level of buffer to fall back on in case of lawsuits. I am confident you’re not as educated as you described.

@HulaShack1 7 месяцев назад

@@davidhooper259 LOL Ohhhh that makes you an expert. You are the ones that rip desperate people off and buy their home for pennies on the dollar. Put lip stick on a pig and then try to rip off the unsuspecting buyer. We know your type and everyone loathes "flippers". No wonder you don't want a Realtor looking over your shoulder.

@liliherndz5792 5 месяцев назад

Lisa ..it is called beginning of Socialism ..is America going to loose the blessing of Capitalism ?

@floydestelle6242 7 месяцев назад

I say more people will sell their own houses now!

@TheRealLivingWithLisa 7 месяцев назад

Maybe... but where will they go? Everything is over priced. 🙄

@auroranite 7 месяцев назад

Lisa imo the Seller has to have the higher incentive to move their property than the Buyer. Meaning they will need to share/cover cost for Buyer’s agent. No doubt further inflating their listing price. ?’s - How long does Buyer’s agent agreement last, 48 hrs, week, month. Is it exclusive to the one property or can that agent make a, Claim of compensation, for any property that Buyer eventually purchases. I think Open Houses will be utilized more for Buyer’s to avoid these agreements. Tks for bringing subject to viewers.

@TheRealLivingWithLisa 7 месяцев назад

Buyers agreement can be for up to a year... really depends on what a buyer negotiates. Picking a good realtor is key, one you trust and have confidence in. Most realtors are not going to engage in weekly contracts... this is not a good utilization of time. Most agreements are between 90 and 180 days. Even with an open house you still have to sign the agreement in order to write an offer.... there no getting around signing a buyers agreement unless you do a for sale by owner and wing it yourself.

@nelitatanner2277 5 месяцев назад

Lisa, if the seller's agent sells the house to a buyer, does the seller's agent get both the seller and buyer's commission?

@TheRealLivingWithLisa 5 месяцев назад

@@nelitatanner2277 in most cases, and with the law change the list agent will be required to have any buyer viewing the home sign a buyers agreement.

@Oscar122369 7 месяцев назад

I don't think buyers will pay because they can barely afford a home. I think sellers will pay buyers agents 1% and listing agents 2 or 3%. I really feel bad for the agents out there hustling to make a living because it's not easy working for commissions. God Bless Lisa.

@razorsedge1 7 месяцев назад

Buyers will have to pay some amount!

@debbiecarter4565 7 месяцев назад

Could not agree with you more….

@GrandPrix44 7 месяцев назад

Whenever I thought we hit peak stupid, the government amazes me. Thanks for the thorough explanation

@commshopctr 7 месяцев назад

I agree that this all appears to be happening by design. In Miami, we have been witnessing apartment poping up all over the county like wildfire. Maybe that is the future. Lots of investors are pouring $$$ investing into these corporations building these massive apartment communities. So only the very wealthy will be able afford a house. 😢

@TheRealLivingWithLisa 7 месяцев назад

I think this is the case in the future. And this will make me carefully structure how my property will be handed down.... so it can't be swopped up by Mr. investor.

@charleswilson8800 7 месяцев назад

I don’t know if I like it or don’t like it. What I did not like when my daughter sold her home in Hahira, GA she ended up paying commissions to both realtors.

@TheRealLivingWithLisa 7 месяцев назад

Yes, this is common. If you want realtors to bring you their buyers you have to offer them something. Real estate is a business and realtors work for commission. The seller can decide how much however or NOTHING. Nothing means it will be harder to sell the house. MLS required you to offer something... it could have been a $50 bucks, but of course, I think we know this would equal fewer showings. I'm winding it down.... I'll let the rookie agents deal with it... because its going to get sticky. Thank you for your feedback... I always enjoy reading viewer comments. ❤

@charleswilson8800 7 месяцев назад

@@TheRealLivingWithLisa Then Iin the ruling is fair to both seller and buyer as both will pay their own realtor commissions.