Breaking News: NAR Settlement and how it might affect real estate

[@MaddieBr]

A buyer who uses the listing agent would need to be an excellent negotiator, expert in arranging and understanding inspections, everything a good agent currently adds to the transaction.

[@A.J]

Yeah. Also many times market dynamics would decide the home price.

[@MaddieBr]

Not just price. I want to be able to walk away if there is a cracked foundation, bad electrical panel, broken septic, etc. Buyers would have to be prepared on contracts, or would need a lawyer for that. Naive buyers would be taken advantage of

[@DakotaFord592]

Real estate is a perfect job for former sex workers or prostitutes. You you have to see as many clients as quickly as possible. You have to get them in and out as quickly as possible. You have to get the most money as quickly as possible...

[@patmagic3301]

Lawyers go to school for seven years, realtors go for six weeks 🤷‍♂️. I think it’s hilarious how all these realtors are touting that “Now buyers are going to get taken advantage of” I have to ask by whom? Agents of course! Lol 😂 This is the issue that started the suit in the first place, agents omitting or straight up lying about the fact commissions are negotiable. All these hypotheticals are for not. The guest said, real estate is cut throat. THATS THE PROBLEM!!!

[@hoy1es1un1dia1feliz]

@@MaddieBrlawyers can never take the place of a just and seasoned real estate agent…never in a million years!

[@EvaVas03]

I was watching a documentary on Hulu regarding the house market. I think there's is different in Canada buyers need agents Home sellers don't. So the crazy thing that i saw the buyers agents avoided showing the clients a house that wasn't offering commission or didn't have an agent. Cut throat idea this may happen here as well.

[@jdoran7]

"Proposed" settlement...it's a speculation until a federal judge signs off...and even after the proposed settlement, there are other suits that will continue 'til settled or adjudicated.

[@Cashflowsavage]

I no longer rent movies from blockbuster I don’t use taxi I won’t use a travel agent. Realtors have always been over paid for what they do. The easy money grab is over! Seller agents are next to fall. I can list my home on the MLS for $500 hire my photographer $350 buy a lockbox $10

[@A.J]

+1. Problem is why in the world seller should pay for buyer agent who is trying to negotiate and bring down the home price.

[@peterbedford2610]

I've bought and sold over 35 houses in the last 10 years. I understand the process very well. I don't need help...but, most people buy and sell one house every 13 years. I see the look on people s face when I describe the details and process in the transaction..they need help.

[@Cashflowsavage]

@@peterbedford2610 hire a real estate attorney for $700

[@A.J]

@@peterbedford2610 I agree. Especially first time home buyers.

[@cooking_phil]

The buyers agents job is to make sure the transaction closes, they don't really represent the seller. I don't think they are really needed TBH @@A.J

[@patmagic3301]

If there’s still room for agents to omit, lie and grift, there will be agents who continue to do so. The only ethics in real estate are in the mind of the individual. Who will be the real estate police enforcing these rules, the state? 😑

[@mommom3172]

Every state has their own laws. You should educate yourself on your state laws since it sounds as if you're representing yourself in future transactions.

[@pauldietzmann5610]

It was easy money for realtors at 3% interest for years KEEP A JOB AT WALMART NOW

[@ShulaTheDon13]

It’s not the realtors fault you’re an underachiever that no one loves