08-01-2024 NAR Settlement Update

[@henryartiga-YourVegasrealtor]

Thank you very much for the amount of work you are doing to ensure we are well-informed and well-trained!

[@marcelacazares9063]

Pero que pasa que EXP todo lo hace en inglés y tiene muchos realtors que no hablan el idioma que pasa

[@Hedley714]

I stopped in to your office in Heath, Ohio on Saturday, August 3, 2024. Not sure why the office is a ghost town🏄‍♂️

[@nationalhomelocatorpowered1855]

Maybe it's because everyone is in the field doing transactions and working with clients?

[@Hedley714]

@nationalhomelocatorpowered1855 naw

[@mrjonker]

At 27:45 Holly mentions dual agency. Note that dual agency is not legal in Texas. Intermediary or subagency is the preferred terms

[@nationalhomelocatorpowered1855]

Dual agency is completely legal in some states which is why she mentioned it I assume. I didn't recall her reference Texas specifically though. I suspect there are many other states that don't offer dual agency as well. However, on these videos I suspect it's impossible for them to spell out every single state that doesn't offer dual agency or does offer it but they do have to cover it in general terms because some states do allow it.

[@mrjonker]

In some states yes, but as I mentioned, not in Texas.

[@user-cx4rl5hp3e]

Thank you!

[@RealEstateEntrepreneur]

In Texas, although legal, does NOT like representing buyers. As a investor, it seems like I have to make sure the seller pays the commission of the sale. In my experience in the last 20 years, agents trick buyers to expose their financial position and bring that to the seller. To me thats crooked practice.

[@avondalechurch1]

Is it discriminatory if a seller wants to offer concession to the buyer if they are low-income or if they are military/first responder or perhaps even a non-profit like teacher/ pastor etc. I'm not sure what the legality is there and if that is a possible incentive to throw out there, much like "teacher next door" program. But then if the buyer is able to pay for their side of it then they would be excluded based on income and lack of "need" ? Does that matter? I mean stores do special discounts.

[@rselby0654]

A concession is a concession and it doesn’t matter. It’s the seller’s discretion always.

[@guineapigzed]

@@rselby0654seems more strong arm to me.

[@nigelbarrettorealtor]

Brilliant!

[@justfloridaliving]

When obtaining documents that are public knowledge and giving them to a potential buyer, would you say that a HOA budget is public or private information? In South Florida especially it is becoming a mandatory document. The bank needs to verify if buyer will be able to finance the property or not. As a listing agent, who am I allowed to share documents with and who am I not allowed to share documents with?

[@justfloridaliving]

I didn’t understand the part about “concessions being 2 clicks away” from the main MLS site

[@cindylukehartrealtor6991]

you can't get it directly through the MLS by clicking anything in the MLS NOT an attached document, not a website that is fed by the IDX, not within the realtor notes nor public notes in the MLS is what I understand

[@justfloridaliving]

@@cindylukehartrealtor6991 so what if we are running an ad on social media, they click my link, they land on a landing page, then fill in their info, then are taken to another page with the concession amount? This seems like a good way to attract leads and get CLICKS, as long as the seller agrees obviously

[@mrjonker]

At about 8min Holly talks about the listing broker compensation regarding an unrepresented buyer. According to my knowledge, this is “classified “ as a subagent? Since a Subagent aids a buyer in a transaction while representing the seller. Right??

[@donmandy6928]

this webinar says the new exp forms are on Sky slope, are they not available on zipforms?

[@georgecachola8508]

Do you have a compensation on that non exclusive or Turing agreement. So what you saying exp approved the Zillow 7 day Turing agreement w/o compensation

[@nationalhomelocatorpowered1855]

I'd suggest going back to 23:20 on the video and re-listening to that section again. It sounds like we need to make sure our local MLS in our specific state is okay using the Zillow Touring form if an agent wants to use that form initially to show a home because the local MLS's are the one's that will be regulating this.

[@The316Investor]

The ultimate fix is to branch away from the rmls.

[@The316Investor]

Commercial. Not required with MLS

[@TheFarlessGroup]

Where is the FAQ

[@mrjonker]

This whole video is about FAQ

[@The316Investor]

My MLS. Does nothing for me. Never in the past 8 months. Have I had any deals from MLS. NOTHING and charge. Upfront for nothing in return

[@leesamuels3983]

These forms are not to be used in Colorado is that correct?

[@nigelbarrettorealtor]

Yes

[@CourtneyGavin]

If the seller is willing to offer compensation to the buyer's agent and they put it in Section 21, how will we know/see this info? Do we call the listing agent and ask? They can't disclose that on MLS, is that right?

[@nationalhomelocatorpowered1855]

The MLS's can not disclose buyers compensation starting August 17th. We obviously won't have access to the documents signed between the Seller and Listing Agent on compensation. You may need to call or text the listing agent for any buyer's agent compensation but you could simply make your compensation as part of your offer. Check out your specific state forms to handle this.

[@boudroux1]

You can only submit the RPA and buyer broker agreement. The listing agent will respond if your terms are accepted or if the seller wants to counter.

[@boudroux1]

@@nationalhomelocatorpowered1855you cannot call the listing agent about commission.

[@admyank]

I left eXp and NAR because it was all about keeping the % up. I was not able to quote a price without the buyer compensation nor negotiate below 5%. My business? Not if it's dictated by everyone else. Too many brokerage forms for no money.

[@phillipjohnson8414]

eXp Realty has NEVER placed a minimum listing fee requirement. I've been here over 7 years and what you just stated is BS.

[@zacknewman300]

Not sure where you got that info but I’ve had listings at 6, 5, and 4%. That’s simply untrue.

[@DrivenEntrepreneur]

That's a boldface lie, sir. eXp does not have and has never had a "minimum" rate its agents are supposed to charge. I can't stand NAR but they have never mandated a minimum commssion rate, either. Agent's get paid in direct correlation to their skills. Sounds like you should brush up on you're negotiating skills!

[@tinacaulshow]

Not true 😂. We sell 1,000 homes per year and can set any rate we want

[@PINA1275]

That’s false I came to exp specifically because I’m able to negotiate what I want to charge 😂

[@JJ.ReLaTrix]

♥️🫶🏽🙏🏽🎯®️

[@LookyLooRealEstate]

What a ridiculously communicated presentation. Perhaps empty communication, saying lots of fun words trying to make ourselves sound important with little if any substance, is why the public views some of us as vacuous and useless?

[@guineapigzed]

Bingo

[@guineapigzed]

This exposes the scummy way realtors have been acting for ages. Just look at how your scrambling to cover now.