Why I was Forced to Sell My Dream Home

Between increased interest rates Realtor fees and commissions prices on homes for sale are starting to change and here is why and what I am seeing 1st hand.
#realestate #Economy #housingmarket
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[@raybo1018]

I think you sold the house at the right time. Personally, when something "recreational" results in more work than recreation, then it's time to reconsider if it's worth it.

[@Jessersadler]

Should have just paid to have it managed, and paid cleaners. . .

[@ronbarone4445]

My father passed and his house went to our family, the realtor wanted over $16,000 to sell it ,I took 20 pics of the house and listed it on Zillow and it sold in 2 weeks. 😆

[@steveurban3021]

I somehow stumbled across your channel and have watched about 20 of your videos the last 2 days. I gotta say, you are probably the most honest car salesman/ used car dealer owner I've ever seen. Down here in Sarasota FL. everyone in the car industry is a thief. Wish there were more guys out there like you. Love your channel.

[@patrickstotler1201]

That's Scary you say EVERYONE IN SARASOTA Florida is a thief!! You've dealt or know about every dealer in Sarasota?? I never liked the bad reputation used car dealers have as a whole when like anyone should, be rated individually!!

[@George-dy3pt]

​@patrickstotler1201 exactly these people are weirdos!

[@rc70ys]

You go to an auction buy a car take it back to your yard throw a bucket of water over it and double your money !! Don’t devalue someone else’s profession when what you do ain’t nothing special neither.

[@tomiasthexder7673]

A used car dealer complaining about a realtor is popcorn worthy material.

[@lkeil84]

I must say that when I was relocating to South Carolina from California, my realtor that I called the night before, picked me up early from my hotel and we drove hundreds of miles a day looking at 8 houses the first day and 10 the next. When I returned from back to California, I found that the realtor selling my house got me my high price in 3 days and I had to be out in 30 days. The realtor in South Carolina kept going ald looking at properties I asked him to and made everything happen so that I would not be homeless. And I would think he put in this kind of time to others that did not end up buying a house through him. In the end, he did make about $10k from me, but put in many hours. He received the car I had shipped there and paid the driver $1000 Cash for the drop-off, of course I paid him back. He lives near me and when I am selling this house next year, you bet I will make him work for it for selling this one and buying another. Sometimes it's easy money and sometimes it is a lot of work for nothing in the end.

[@mikehertz6507]

You're selling the house you just bought in one year? Aren't you just throwing money away on realtor fees? I always thought the traditional break even point was around five years.

[@paulh1745]

The difference between you and Craig is I believe that Craig doesn’t appreciate anything anybody does for him if he hast to pay the going rate for it. He wants a deal from everybody and he doesn’t want to give a deal to anybody.

[@crysk4037]

​@@paulh1745EXACTLY.

[@pilothouseking]

I have nothing but bad things to say about Realtors. Total waste of money.

[@lkeil84]

I bought this large house so my adult children could also relocate. A 5 bedroom 4 bath house is a bit much for me and my wife only being here 4 months a year. And next year when I sell, it will be 3 years.

[@FINELINEVAN]

As a retired builder what you say about real estate is how’s it’s always been. I been through the booms and busts. The suggestions real estate agents pull that screw people and your right they take listing don’t do anything much. It’s how it’s setup. I sold a few homes on my own and it worked out in boom times. You cant emotionally do buy what you did then try to rent it it never works out more so in a cold winter climate. The heat will kill you to pay. I watch ya man. I like what you say I like that you realized it’s the time to sell everything you do t need. It’s gonna get bad and it’s time. If you bought that house in cash and can afford the monthly then you could keep it. But financing the project using a business loan that you know rates will double soon which is why a lot of people need to sell or get beat up. Cash is king now investing is dead unless you have cash to buy these investments people are bailing out. We have a motorhome paid off we use on lakes and the ocean areas. Outside of gas and maintenance mine sits in garage ready for new adventure so it stays real nice. You can visit leave and pay a small fee to stay verse a vacation home. Of course being retired makes life easier because everyday is a weekend. The lesson you learned is know when to hold them know when to fold them. To make you life and your families comfortable. These are gonna be tough times for many who thought low interest rate rates were gonna be here forever. Their house of cards are gonna fall. Your a wise man I don’t miss working in any of the housing market.

[@dougt5357]

Your story is EXACTLY why my wife and I sold our first home by ourselves. We had a small ranch house in York, ME and needed a bigger house for our growing family. We put a sign up in the yard and soon had a couple who were just starting a family stop and talk to us. They were expecting to deal with a realtor and we said we wanted to do it on our own. Got a basic contract from a stationary store and went back and forth on the details and signed an agreement. They did an inspection and we had a couple of things to fix. We did have to use a lawyer and a Title Company to finalize the deal but, it all went down without using a realtor. Oh, and a 'negative explosion' is called an 'implosion'! 😲🤦‍♂🤣🤣🤣🤣

[@jolieb9138]

We use a Title company and lawyer and had less work because we weeded out the gawkers for showings.😂

[@harryschneider1760]

Thats awsome. Realtors should be a flat fee not % of the sale from the buyer n seller...i think thats just wrong or im just a hater who got in wrong business..

[@mph5896]

That works out great if you find a buyer quickly. Selling fsbo, you have to deal with all the tire kickers, con artists and crooks. This is what the realtor agents rule out. The overall process is easy if both buyer and seller are straightforward to deal with

[@tomparker9966]

I sold 3 houses without a relator. Probably sold too soon on the last one but brought the neighborhood value up considerably with the first one. The second one the closing lawyer and mortgage broker tried to get me to sign over house today and get paid next week when paperwork cleared. I guess they thought I was too stupid to read and understand contracts. They were wrong. Buyer had to get a cosigner and come up with cash down payment but I helped him because he was a victim too. Message is if you sell by owner make sure you understand what you are doing cause once you sign its not your house and I didn't understand won't get your house back or get you paid. Seller beware. Buyer beware.

[@ant9526]

ppl are so glad to brag about selling without a realtor 😂 it’s not hard to sell a piece of land with a house on it. what’s hard is selling it for the max it could be worth with the best possible terms. FSBO sell 10-15% less $$. That is a fact. Also half of them sell to family or friend. 88% of them end up throwing their hands in the air and listing with an agent

[@scottiswatchingtele]

I sold a house and it was $100k fee. Zillow made more than my agent who truly worked hard before and after the sale. Follow your gut. Don’t her realtors say you one way or another. Realtors do provide a service, but listing a home honestly should be automated. There was a lawsuit in Florida about this and no idea on the ramifications in the future

[@wl6020]

Craig, ypu said you will say how much you made or lost, by the end of the video you didnt. So how much did you made or lost totally including realtor fees, building the house, your own labor, etc?

[@roundcornerent]

Yeah Craig don't be holding out on us . Come on now. 😉

[@danielmurphy9140]

Craig, People have been complaining about realtors' fees back in 1976 when I was a realtor. It was a flat 6 percent. It was split up based on who did what to sell the house. If you listed and sold it you split the 6 percent with your realtor. You could for a FISBO (for sale by owner) Just get a lawyer and pay him less than a realtor.

[@G31mR]

Having both sold and purchased a home in the last several years, I can say that both my selling realtor (in California) and my buying realtor (in Kansas) worked for their commissions. The buying realtor, in particular, spent more than twenty days, driving us around looking at properties before we found one that worked for us. She put the miles on, and the gas in, her car and set up appointments, etc. Are the commissions a lot? Yes. Do they earn their commissions? In many cases, yes, especially if it is a tough selling market. Enjoyed the video! Did you make a decent profit?

[@startingtech3900]

Of Craig did. Over 6 firgures. He is a great businessman

[@jayrobinsonshowtime]

@@startingtech3900"of Craig did."

[@blakem5944]

Great video! I sold my airbnb last year as well. You never told us if you made money. A breakdown of your costs and profits would be awesome like you do on your cars.

[@onetime359]

Exactly he said he would tell us what he made on yhe deal he never did!!...grrr

[@jonwinship9099]

It was probably a loss or break even deal.

[@guyod1]

probably less than 21k. Haha

[@BlueCrab251]

We sold our last house ourselves and bought our current house ourselves. I was about to cave and use a realtor to sell the old one after many showings, but we lucked out and got a buyer. I kept asking the realtor why I'm paying them X thousands of dollars for them to upload photos and a description, unlock the house to show, and make some calls back and forth for negotiations? It would make them mad, of course. What kind of value am I getting in return to pay that kind of money? It's a uniform residential contract; the title company handles the rest. The only exception might be a unique property, such as farmland, or a rural area without many comps. I took photos, phone calls, showed the house, etc. Like selling cars, it can be frustrating, but why throw all that money down the drain just for making phone calls and arranging to be at the house during certain times. I'm certain we received top dollar for that house as well. It felt amazing to have done it all ourselves!

[@onetime359]

I went back and watched his breakdown video of the house. He had $368k according to him and he sold for $431- $21k. So he made basically $50k for three years. Honestly seems like a lot of troubles for amount. But to each his own. You're all welcome because he never gave a price breakdown.

[@crowneproductions9908]

Thanks, good information but I'd wager that it wasn't even close to $50k. Homes are not assets, they are liabilities. The monthly expenses that he mentions in the video would need to be accounted for. If he's not even renting it out for 9 months of the year, then he's paying the mortgage and utilities and taxes that whole time out of pocket to keep the property up. It's a lot less profit than $50k but it's still a profit so good on him anyways. Probably not worth the time but I can tell he learned a hell of a lot which will help him do much better moving forward.

[@onetime359]

@@crowneproductions9908 how is a home a liability?

[@robertscheinost179]

How high can you count?@@onetime359

[@absolutelynonameslef]

@onetime359 you'd have to add up expenses for maintenance/updates/taxes/insurance then subtract from the profit realized from the sale. Rate of return doesn't always beat the stock market, except for areas that blow up valuation-wise.

[@onetime359]

@@absolutelynonameslef yeah. Okay. Thanks

[@JakeTaylor1646]

Dude this was neat, you explained it in a simple way that everything added up, I watched so many investment channels, Realtors channels, and you clearly gave me a clear picture of it! Thank you so much Craig!!!!

[@igormihic]

Agree, also they should open every Car auctions for public . So that I don't need to go to dealers and pay 100% mark up

[@dawn2788]

Video is (2) months old, thanks to the 12/13 FED decision, 30yr mortgages are now 5.45 - 5.95%, much more affordable. There will not be a housing crisis.

[@Average_Dadx]

Did you give us the breakdown you promised on the profit or loss? Did I miss it?

[@ricardocuevas7815]

You didn't miss it. He didn't do the break down like he promised. SMH

[@oscargomez8228]

He did not

[@LearningFast]

Interest rates aren’t at an all time high. In the early 80s they were double what they are now. Interest rates have already come down a point in the last few months and will probably go down another point in the next 6 months.

[@bigdog8993]

The lake house series was fun to follow along with I look forward to seeing you guys purchase another lake property in the future. But you're 100 percent right who knows what is going on with the world 🌍 definitely agree that it is time to hold onto some liquidity right now and when things go on a fire sale grab em up 😊💰💰💰

[@dreamcreator2552]

You are spot on in your analysis of what is going on now in housing and the general economy and where this will end up. I can’t see the +10K over sticker on new cars working anymore. No new vehicles on the lots in my area since Covid. Total B.S.

[@bostongmw2851]

For the same reasons you cited; 2.5 years ago we decided to sell our house on our own. I did a lot of research and spoke to several realtor friends who were not happy with our choice. The said not being on the MLS would black ball us. We cleaned and decluttered the house. Staged it and took over forty photos with our iPhone and put it in Zillow. It sold in a week. I hired a local real estate attorney who did all the paperwork for $1500. I would do it again without hesitation. Having said that. The one area a valued realtor can help is with expensive homes. They have the reputation and relationships that bring in those type of clientele. The market is much smaller for homes that are out of reach for every day people. A tenured realtor with connections is priceless in that instance.

[@paulh1745]

You know what’s funny it seems to be OK when Craig gouges the hell out of his customers, but doesn’t want to compensate a realtor fairly. Nobody put a gun to his head. Nobody told him he had to do it that way. But he took 10 minutes, and that damn video to complain about having to pay a realtor. If he didn’t like it, he should’ve done it himself, and shut up.

[@jeffbrown5709]

​@@paulh1745😂

[@ericmichel3857]

@@paulh1745 He probably will next time, and so will a lot of others that watched this video. If you don't like it, you can shut up and go away.

[@paulh1745]

@@ericmichel3857 It’s really good to know that you like to lick…, Well, you know what I’m talking about. Try and learn to be an independent thinker, instead of following around reprehensible people like,… Well, you know who.

[@EconomicNinja]

Wait a minute, have you been watching my channel...😮

[@rce59]

Real estate is or can be tricky. These times are also. I’m sure your doing the right thing for your family. Thanks for your video.

[@6StringSunburst]

Craig, you signed a listing agreement with your realtor. The realtor sold your house and adhered to the agreement and now you think you've been taken advantage of. That is sour grapes my friend. You could have sold it yourself, listed in the MLS yourself but you chose selling it with a realtor. I agree the listing fee of 5-6% is too much. Each realtor should charge a variable fee and their would be competition amongst all the realtors. FYI, I was a realtor in metro Chicago for 10 years.

[@EricUnderwood11]

So did we make or lose money on this deal?

[@jayrobinsonshowtime]

lol that's exactly what I was wondering too.

[@jayrobinsonshowtime]

@@theacgkid so the question is how much was his shirt

[@FredFlintstone21]

Hey Craig great video showing what's involved with airbnb! You mentioned you would say if it was a flip or a flop but didn't get there in conversation?

[@oscargomez8228]

I think the reason he HAD to sell was financial….couldnt affird it

[@shamrock7318]

Just get a realtor license . It takes about a month for the course. Then you can keep the commission.

[@JW-lo2bh]

My family owned a summer home directly across Meredith Bay from the docks. Unfortunately it was sold when we all grew up and got married. The lake has always been my favorite place in the world. We live in Texas now, but we vacation at the lake every year.

[@BarbaraFerenzi-c6s]

I just completed the house series, a lot of food for thought. I hope you'll be able to secure another lake home in the future.

[@kevinmcmullen..]

I sold multiple properties in 2020 that I now regret selling. Who would have known they would have tripled in price. At least you are selling at a high market price. By the way I too thought the same about realtors until I got a license. I worked a whole year, hours and hours a day of calling people and showing houses and I made $0 dollars but spend thousands of dollars on the license and renewals and gas not to mention my time. Most realtors do 0-3 transactions a year and don't forget that you have to split half of the commission with the broker you work for so that 21k is 10.5k then you pay taxes on it. So at the end of the day it doesn't add up to much. When selling you can sell the house yourself. But on the buy its great having a realtor bring you a buyer. Any time I have found a buyer for one of my properties and they didn't have a realtor it never sold. The realtor's vet the buyer and make sure they can actually buy it. Also most people know absolutely nothing about houses so having someone with experience is helpful.

[@t20594]

I attempted to sell my house we counter an FHA buyer and I was afraid to go any higher with the conventional buyer. So we started contract with FHA sucks paint chips and garage door opener had to be removed. Buyer strung us along for 2 months and then we found out she was separated not divorced and could not legally purchase a home. I was not going through that again. No sale and haven’t attempted again for 3 more years now. Realtors can still screw you bad

[@t20594]

Everything is negotiable that realtor screwed you and stuck you with all the fees. You can get them all added on top. The market flipped but the prices are still high

[@cheeseblog]

You’re doing something right. A lot of work physical and mental. But you’re not starving that’s for sure. Plus you have tons of energy! And you are also a KZbin celebrity❗️

[@c-moneycantrell]

You’re doing the right thing , we all get emotionally attached to things we’re not supposed to. I do it with cars all the time and I look back when I first started I’d just sell everything without a thought now I find a reason on why I need this car . It’s just better business to keep moving. $400k is a good nest egg to find something else and possibly have enough left over to get another flip as well, not as big or brand new but you’ll find something else to fall in love with. The boat is another story lol. Good luck man

[@user-rk6qd5gy6b]

I live in. Rhode Island I sell houses I own all the time And I found a Real estate broker that has a website that changes only $99.00 to list my houses and only offer 1.5% Commission to buyers realtor and if they don't have one I pay NO Comission .I also own my homes outright and I Usually hold my own Mortgages And they are not subject to Appraisal . Realtors are a waste of money,they do nothing. A clean beautiful home in a good neighborhood sells itself.

[@terrylessmann2274]

The stuff is getting ready to hit the fan. You got out in time for a decent price. The flood of houses is coming. Car repos have been way up all yr. Credit card debt has been up the last 6 mos. Ppl are dipping into their 401ks. Housing foreclosures are next when their other sources are tapped out. Good plan to have cash in hand. In 1.5 yrs you may be able to buy that same house back for $225.

[@jayc4715]

Nah..rates going down next year

[@andydhillon1977]

Entities like Black Rock will buy them up and shut out the average buyer. The average person is going to be poor very soon.

[@jamesweber4938]

Seeing as you liked the area by the lake so much why did you not sell the house where the car business is, sell the car business and open up a car business in the area near the lake and continue to live in the area you love by the lake ? What am I missing ?

[@alexeimisalov5975]

Could clearly tell how difficult it was to deal with the sale mentally. And you managed to do a video on it as well. Quite informative!

[@colbiecolbie6979]

Tell the realtor to move the wood or commission goes outh with th sale

[@bryans9803]

Good video. Word that I think you were looking for was nostalgic. I too wonder what exactly realtor do these days with electronic listings, etc.

[@steves3688]

I learned from my first house that I will sell all my homes myself. That one sold in one week like yours and they took 6%. I have sold 2 since then by myself. I will NEVER pay the 5-6% commission. I am good with people and can list my house on many different platforms. I use an attorney that specializes in home sales for the escrow and paperwork. Never an issue and I get near or what I am asking and that is an amount that I feel good about and fits with sales in my areas...it takes some of my time to do this but hey...Im paying myself to do that job! The new lawsuits might change how the MLS works and it should get more competitive but that may take a while with all the counter-suits likely to be filed. I, like you, have built 3 houses and I will reap the rewards, not the realtor/realtor group that just step in briefly and have their hands out wanting too much! If realtors would get that fee in the 2% range I would use them...but not til then will I consider them! In my area where houses are around 500k then that's still 10k fee and that's ENOUGH!!!! Especially with the excise tax and other selling fees!

[@ant9526]

you clearly have no clue how commissions work. 10k on a 500k house would be about 5000 to an agent. 4000 after taxes. That deal took them at least two months to curate. 4000 in two months for a deal is too much? Lol

[@steves3688]

@@ant9526 lol...I know money way better than you....$4000 after taxes is fair... Both sides get that... You don't like the pay.. Get into another field.... If that doesn't pay you enough from MY HARD WORK AND INVESTMENT ... Then too bad for you....I will never allow people to play me for more than their worth....REALTORS didn't do the hard work for me ...I did!... Weree you there framing, installing , ordering, sweating, purchasing all the goods and taking the risk?... Didn't think so..... So why if the hell are you entitled to 6% of my hard labor and risks.... Your not... Because I don't have to let you be....

[@rcwessel]

I charge 1%. What you pay the buyer's agent is up to you. I am near Chicago.

[@ericmichel3857]

@@ant9526 If all you do for two months is "curate" one home sale, you are vastly overpaid at $4K.

[@ericmichel3857]

Did you end up paying for a buyers agent?

[@crunch6947]

it can be negotiated. you can have them clean or do what ever you want. you can list on mls and show the house yourself works great if you live close by and can leave work at any time to show the house at the drop of a hat most cannot do that. u can also negotiate what you will pay if they sell or if another agent sells i never payed an agent a percentage just to list a house

[@lionsuar77]

Great video man! I love your honesty and how you share these experiences with us. As a family man myself, I appreciate learning through your experiences!

[@paulh1745]

You are so naïve.

[@hermantracey5976]

Live in Florida went through the same thing sold some rental property and sold a house in a 55 and over both places cost me over $40000 all realtors are Leachers

[@sanangelo7926]

It’s weird a house that looks like section 8 on the outside is worth that much

[@rubenbirle]

As a realtor I found selling my used car harder than Listing and selling properties. You. need a Real Estate License.. YOu could of saved yourself 11k :)

[@richy76]

I am a realtor and it is sad that there are lazy agents out there that make the rest of us look bad. I truly believe in earning your commission. With my sellers I will go out of my way and make sure they had a pleasant and positive experience. I hire cleaners on my dime, and at times have had my wife help me clean properties, pull weeds, etc. If it is a big project or repair, I arrange a handyman or contractor and have the seller pay from the proceeds at closing so they are not out of pocket. Sellers eventually become buyers so the way I see it they money spent is made up on the next transaction or referral. As an agent we need to hustle we don't get a paycheck and we still have to pay MLS fees, continuing education fees, licensing fees, office fees, E&O, etc. So that $21k needs to cover all those expenses and hold us over till the next deal.

[@altheacbarnes2522]

plus that 21k is split between the 2 agents' offices...

[@flyaway319]

So because you have fees you think sellers should be there to pay them? Realtor commissions are exorbitant, $60k on a $1mm house? They will come down to the 1-2% area if not zero. Just look at other industries like finance where commissions have collapsed to basically zero. I'm sorry nobody is worth 6% of my house. Then you have high end realtors selling $5-10-20mm homes and making millions? lol... MLS is the only thing a realtor has any clout for and that is a monopoly that should cease to exist. If I was in your profession I would think like they are going to zero and come up with a plan.

[@texasexes1207]

Hope you get a new job quick. AI is going to eliminate your job. We don’t need you at all. I’m an investor and will never sell anything with a realtor. It’s a rip off. People have been fooled to think it’s something complicated. Buying a car is literally more complicated. Like he says, a lawyer does all the important work

[@CheerfulCamera-nj8ow]

i feel you i’m going through the same thing right now only mine is 37,000 in fees thank you for sharing your story i love the videos you make

[@TaylorZ2]

NEVER use a realtor in this market, N-E-V-E-R! I've sold both my houses on my own, just make sure you have a good attorney though. As far as selling your house Craig, when the bad outweight the good it is time to move on.

[@thomasmazzola4760]

You could have just sold your own home. No one forced you to sign with the realtor

[@andydhillon1977]

Amazing video. Arguably the best one in my opinion. I'm in a similar situation as you. I need to sell a lot. The world is changing and we have no clue what's coming. "Wildfires" in Hawaii, politicians stealing as much money before they switch us over to a CBDC, etc. 2024 is going to be a year unlike any other we've ever seen. Anyway, I have a real estate friend who said the sane thing. Buyers buying at higher prices and interest rates hoping the rates go down soon. I'm confident it's not going to happen. Recipe for disaster. I think you were wise to sell as much as you did.

[@GeorgeMandry]

Smart move to sell now - I'm like you, I really think RE is going to start tanking next year. Prices in our area almost doubled in the past few years, and there's just no way to justify the prices. I'm already seeing a softening in the housing market here, but the lemmings are continuing to "follow the experts" as you said, and buying now to refi later....and average sales prices are already slipping. I'm old enough to have survived several significant RE adjustments, including the 90's - people walking away from homes because no one would buy them when the APR was 12-15%. Automotive side is insane, as well - just bought a '20 Gladiator last week for cash because I refuse to pay the interest rates they want. I look at our neighbors with their new cars/trucks w/$1k/mo payments and wonder what they're thinking......

[@thomasmorrison3279]

I owned a condo at Myrtle Beach, SC. My dream turned into a huge burden. I lost money selling it, but it feels good to be free of the burden.

[@JasonMcDonaldYT]

I'm a Realtor in Canada. I've helped clients empty out hoarder houses, (even on closing day), paid for their dumpsters, photos, cleaners or helped clean, paid for some inspections etc. But it's like anything, people can sell their own houses, cars, boats and personal property by themselves, 100 percent. The market is pretty cool here at the moment, good you got it sold quick man. My dentist asked if he should sell right now, I said he was crazy lol

[@tcurry1531]

I have had real estate agents who pay for the advertising, have open houses, actually pay for some things out of their commission, vacuum floors, take pictures and lower their commissions. Also they normally charge 6% and out of that 6% they pay the other buyers agent. There are certain closing costs, inspections, appraisals and some of the closing costs out of the escrow on the buyers side. My agent lowered the commission to 4.5% and the buyers agent had to agree to split that commission.

[@moisesreyes842]

I appreciate your honesty and I felt it was an educational video.

[@glengarbera7367]

Wow, you just summed up the whole US and Canadian economy in like 20 minutes. Thank you

[@MrOnemanop]

So you failed to negotiate to your terms? If you're not going to do due diligence, that's on YOU. The rest is just filler.

[@WilliamBati]

Inquire with your CPA about excluding 500K from the earnings if you used it as Primary for your family. 183 days I think. Also, inquire about doing a 1031 exchange with the boat since they both have livable space and can be considered "like properties"

[@johnsampson1096]

You hit the nail on the head Craig, about real estate agent madness. In the early 2000s I obtained a Massachusetts salesperson's license and thought it would be fun. I went to work for a prominent real estate outfit and in six months after not obtaining one listing, I bailed out of real estate. It was not for me. Sorry you had to lose your dream home, but as you mentioned times have changed and it involved a lot of effort to maintain for a part time getaway. Hopefully, you'll find an alternative haven.

[@ant9526]

so because you suck at sales that means realtors are useless?😂

[@aros007z]

Yes, realtors are not needed in any transactions!

[@ant9526]

@@aros007z 😂😂 good one. so why do 85% of FSBO give up and list with an agent? Why do they sell for 26% less $.

[@jimmcgrath919]

@@ant9526 Ant, previously, you said that FSBO sells for 10-15% less. Which is it? Are you a realtor, or do you have one in your family? I've bought and sold using realtors, but I also sold a duplex two years ago, assuming interest rates would be going up, without one. They got a better price, and locked in a 30 yr low rate before rates jumped. Realtors have their value, but with a good house in a good market, the value is normally not as needed, if you have access to contracts, title company and have some knowledge of the industry.

[@ivanfairweather6049]

You could have listed the property online via multiple sites. Then deal with the no-shows, crazy haggling, unqualified browsers, as well as the criminals casing the joint. Sometimes, a serious buyer. If you had the time to do so. You sell it yourself.

[@roberthoogkamp8639]

Hey Craig, enjoyed the video but my wife is a real estate agent and she would love to have a client like you. Part of her service would include initial inspection, getting a cleaning service, staging and advertising the house. She also has to do multiple open houses and try to bring in buyers. When she does get an offer, she gets in touch with all possible other interested parties to try and get a better offer or bring the price up. Looks like your agent didn't do much as you cleaned and staged the house and doesn't seem like your agent worked to get you more money either, too bad. My wife is also available almost 24/7 and any maintenance, like removing the extra wood, would be done by myself or my son as we try to help her to succeed. From my perspective, my wife works harder than most people I know but when looking at it from the outside, it sometimes doesn't seem like agents do that much. Just my two cents, love your videos !!

[@germgerm89]

I just bought my 3rd home (forever home on 5 acres(horse farm), at 7.99%. My old house was 2.99%. Ill eventually refinance to the 4’s on this fixed rate. Its only worth it to move if you have w reason like us.

[@bobbylibertini]

I really enjoy getting a glimpse into all aspects of your life, Craig, but really, what's it all for? All of the work and activity and spent time..... Really makes me appreciate my simple, minimalistic life! Toys, activities, trips, multiple houses...many people pursue these things, but I just look upon them as more work and constraints upon my time. I thought perhaps I'd gain an understanding of why people devote so much time and effort to these things by seeing it through the lens of KZbinrs like yourself....but if anything, it just further cements my love for the simple life. But, I'm a sigma and you're an alpha, so I guess we're wired quite differently. Definitely fun to watch though!

[@jimcrawford3185]

Einstein had a sailboat and a violin He said other than these two items, everything was a millstone around his neck Less is more

[@bobbylibertini]

@@jimcrawford3185 Well, that's one thing I agree with Einstein on. Now if only I had an attractive cousin.... :D

[@wturn5354]

Love Winni, Meredith is a great town. Take my Seadoo there from Concord many times a summer. Beautiful lake, especially Braun Bay. I think someday you will again have a place in the lakes region. See you at Town Docks for a beer!

[@vwslivinglife4933]

This video should be played in every school classroom 😊 You made a impact in less than a hour than a school system that takes 9yrs to try and teach your kids and they still don't get this point across. Respect for you for showing real life and how it works

[@mekanism1200]

Agreed! They should have a life class that teaches kids senior year of high school the ins and outs of how to live with a budget, how credit cards work, how interest works, how investments work, and so on..

[@vwslivinglife4933]

@@mekanism1200 Yeah I actually been following million $$ owners of businesses starting to hire kids out of highschool instead of college grads because they claim they get dumber in college. They find it easier to train a highschool kid to how they want them programmed plus don't demand high pay like a college kid wants and still need to train them. Plus a college professor can't keep up with what kids learn online because everyday it's changing and the professor degree is old school within a day of them graduating themselves.

[@Eric_Bassett]

Spot on

[@Blackmajic21]

I actually like when you go in-depth with your information. Keep it coming.

[@vvinny0150]

This is the big argument and why the National Association of Realtors were sued and lost a 1.8 billion judgement. In that suit, they asked all the questions your asking. But what does it mean...... probably nothing for sellers. What the court should have done was open the MLS to us. Nevertheless, you probably should have just sold it yourself......and I understand the difficulty with that. Good content, and great topic. Thanks!

[@apieceofreese48]

love following stuff like this. great video. with rates coming down, usually the stock market follows. things lining up.

[@jimmywalters3071]

I'm with you when it comes to Realtors .. I paid 6% for a realtor who sold my beach condo (second place)... they don't do much .. but constantly called me and wanted me to drop the price. I did buy at the peak of the market and sold it too soon, before the boom of the 2022. (I sold it in early 2021).. after 15 years of ownership, I still lost money $$ and sold it at a loss. I'm sure your made some money on your house sale, hopefully.

[@mushasho]

Why didn't you sell it yourself?

[@jimmywalters3071]

@@mushasho yeah, next time I will sell it myself or find a company that will sell it for less than 6 %.

[@mushasho]

Skip the "less that 6%" agent... if theres no value in agents I'd just recommend listing it yourself @@jimmywalters3071 ... there must be SOMETHING that agents provide that consumers have opted to use then for over 70 years

[@617michel]

Funny thing is… auto dealers and realtors are alike.

[@Ochtane101]

It’s true!!! You have to pay these people for what? To walk through the house and say, this is the Kitchen, over here we have a bathroom, ect…. They do absolutely nothing, and get paid, very well for it!!! Makes me sick! I’m with you, brotha👍

[@jtlittle19]

If that’s all you think an agent does, well, you’re mistaken. To each his own, maybe where you live you don’t have actual professionals in the field. Good luck though.

[@carterbishop2935]

I really enjoy watching your channel and videos, always informative and entertaining. At my age ( mid sixties) I am all about having less "stuff" and not buying "things" I don't need. Great analysis on today's economy and what is going on.

[@slickrock1371]

I agree with your move to cash. OPEC is no longer selling oil in USD, and then there's the MBS. I said, cash, but I really mean silver.

[@Ryan-dq1cg]

Craig my family has a home in Meredith and it really is the best place on the earth. Lagos, Camp, Town Docks, Weirs beach😩. Can’t wait to take the boat out this summer. Hope to see you out there!

[@neilfrasersmith]

Realtor here, selling houses is just as easy as running a used car business. Anyone can do it because it's so easy. Nothing ever goes wrong!

[@andydhillon1977]

You're mad. Lol

[@Hollisterhomestead]

Less the physical work to make the sale, less fronting the investment to make the sale, and of course less the liability. As a contractor it always bugs me when realtors complain about only making 6% off a flip. It's like y'all have no clue what work it took for the previous 4 months for the owner and us to actually do to make our 6-10%.

[@KrisHuck]

I am doing the EXACT same thing as we speak. 3 years ago i bought 2nd home in Puerto Vallarta Mexico. AirBnB out most time it was doing great. Last 4 months short term rentals have crashed big time and i think they are going to get worse. I just accepted an offer today and it will close soon. I am luck to make about 45k after fees as well but prices are on the decline already. Don't get stuck with your pants down just because you are emotionally invested in a place. When i go back i will just rent a hotel or AirBnB.

[@hdcsp3]

Great video tonight. You couldn't be more right on today's economic climate. I couldn't agree more with what you're doing to protect yourself and your family. It may not get as ugly as it did in 08, but then again....maybe it will. Be prepared. And you certainly are. Enjoy the memories. Plan on making more.

[@paulh1745]

Craig stays wake at night counting his money. He said he loved that house more than anything, but in the final analysis, as always, he loves money more than anything and everything.

[@1maico1]

The average estate agent fees this year in the UK was circa 1.4%. A bit less for a single agent and a bit more if you list with multiple agents for a harder to sell property. Why do you pay so much in the States?

[@dominicbonora6099]

24 minutes of complaining 😂

[@jerdubya2561]

That’s every video 😂

[@dralanhiatt]

Maybe someone's bad experience will help others NOT make the same mistakes. Maybe you should watch the cartoons at your level for your happy fix😢

[@thomastimothy777]

All he does is complain

[@shadowmen2702]

Amen

[@paulh1745]

I think Craig is a spoiled, self-centered jerk who only cares about parting us and our money. Sickening!!

[@gusreis4564]

This is the best video ever!! More people should be do things like this I know you will feel great about it. Thank you for being so kind to these people.

[@mushasho]

You paid que realtor because you wanted to. FSBOs have existed for a very long time. Who forced you to call a realtor to begin with?

[@shamoo70]

Craig you should do a similar video like you did with the boat. Cost of house etc what your videos made and final profit….

[@michelfortier9563]

I agree with you 100%! The fees a realtor charges is paramount to someone having a gun to your head. Last couple of houses, I listed for sale by owner. Before that, I negotiated a 5% rather than 6%. Still a RIP!. Thank God i'm in my final house and never having to deal with those leeches ever again.

[@ant9526]

FSBO sell 10-15% less $$ in a normal market. A 3rd grader can see those numbers and realize paying 5% commission is still more profitable.

[@michelfortier9563]

There is nothing complicated about selling your home if you take a few hours of time to educate yourself on the process. As for me, I sold my last 2 houses with a FSBY sign on the front yard and sold them within a couple of hours. true story. And I had reviewed what the market price for each home was and threw in another $7K for good measure. Got my asking price. Title company does most of the work. There is no logical reason to pay a realtor the money they make for not doing all that much. It should be criminal.

[@MrTomtusti]

Sell it and move on . A dream houses is on the waterfront. This is just a house close to a lake

[@ant9526]

@@michelfortier9563 keep telling yourself that

[@michelfortier9563]

@@ant9526 must be a realtor.

[@paulgilliland2992]

Unless you’re in the coastal zones like where I am homes are not rising in price they just aren’t going up like the past 10 years. I agree about the realtor community it seems they either have to work their asses off or they don’t do much other than give you a laundry list of crap to work through. Difficult to find a good one at that.

[@itsnotme07]

As an annual Lakes Region resident who's recently lost their annual summer rental due to the owners moving into it after they retired....I feel your pain Craig. It's an awesome area and I love being there!! Plus Meredith, NH is the only town that has ever thrown me a parade when I arrived (250th anniversary back in 2018...Haha). We did the Rail and Sail thing with the Hobo RR and MS Mt Washington....biggest vehicle I've ever piloted...yeah, talk to the Captain...they will let you stand there with them out in the middle of the lake. haha. Course you have your own cool boat. Thanks for sharing all this with us. It IS a great house and you made lots of cool memories there! There will be another one soon when the right one comes up. On to the next adventure!!

[@QueasyGaming]

Realtors definitely vary. My realtor was first to the house, made sure all the lights were on and the house looked presentable before my arrival. I was the buyer in the situation and my agent was super active with finding me houses in my budget. It seems like your realtor just wanted the money and saw that you were active with the house so figured “ehh, he will take care of it for me”

[@robertscheinost179]

This constantly complains in his videos. He wants a deal on everything he gets but when the shoe is on the other foot.......I would love to hear the real estate agent's side, and also how much money the real estate agent had to cough up just to be able to do business. A used car salesman complaining about a real estate agent? That's a good one!

[@bryyMC]

I'm a realtor and I can tell you that yes, a lot of the time, especially with new builds, there is not much work to do on our end. We list on the MLS, handle all the paperwork, and do a lot of stuff behind the scenes that you don't know about. In your case it sounds like you got a bad realtor. 80% of the realtors out there are bad. You should of been doing nothing to sell the house. At the same time, commissions are NEGOTIABLE! Always negotiate their commission. You don't have to pay the buyer's agent either, it's all negotiable, but if you don't pay the buyers realtor then the buyer is on the hook for it and typically wont want to pay that considering they just payed the buyers agent on the last house they sound. But also think back to when you bought the house your living in now, or when you bought the property your showing, you didn't have to pay any realtor anything. It's most always on the selling side when you have to pay. When it comes down to it, even if its backwards in your mind, it's the cost of doing business, you have to factor these things in when looking at investing in real estate. My advice to you if you're going to continue to flip houses is, GO GET YOUR LICENSE! It's relatively easy to get and can save you, in this case, 11k.

[@ricotallud349]

Real estate deals are easy...until they are not. The stuff you described in your video is the fairly easy part of buying/selling a house. The back end stuff, when the deal is falling apart & needs someone looking out for your best interest, is when the realtor earns their money. That's what you're paying for.

[@v12alpine]

@@ricotallud349 I had a good realtor on the house I sold. I was 2500 miles away and he helped handle dealing with the contractors I hired, because the house needed work. Then when a mold inspection came back bad he helped with that too and got it sold. For a "ready to go" house like this, I agree there isn't much for the realtor to do except back end stuff.

[@paulh1745]

This guy is just a chronic complainer. If you doubt it watch some of his videos. It’s never his fault. It’s always somebody else’s fault. That’s his MO.

[@andydhillon1977]

​@@paulh1745Why do you keep watching then? No hobbies to spend your time on?

[@mdoneg]

We live a double life Craig. The difference is I’ve been a mortgage lender for 22 yrs. But I have a “My Happy Place” house that I’m currently sitting in and have also bought and flipped multiple investment properties. The most recent one, the agent did actually work for every penny of her commission and the buyers agent actually pitched in too. However, it’s rare that an agent does a lot of work besides getting multiple parties to agree on “said purchase price” and they hand the deal off to someone else.

[@flynomo]

Most realtors make almost nothing/year. And it’s usually more difficult than you describe. The problem is that emotions are sooo high on the seller and the buyers end. Things can go downhill very quickly and often do. That brings me back to; Most realtors don’t make very much money. Oh… and a Crapload of paperwork and laws to follow. Not all states are the same though.

[@steveg5576]

Slowly...people are realizing they have too much sh*t...The next Gen can't afford all this stuff. A lot of it is "Wants"... not "Needs". You need Cash...end of story...like you said.

[@sanangelo7926]

I find it funny he complains about the realtor fees and is the same guy that complains that his customers should be paying him more for his old cars.

[@paulo5861]

Did not and will not use a real estate agent just for all the reasons you listed. When I had a house built the builder said if you hire a real estate agent that will be on YOU. Needless to say no real estate person was involved.

[@mushasho]

And who in their right mind bought single family homes with an adjustable rate mortgage within the last 5 years?

[@rcwessel]

"Interest rates at an all-time high" That is absolutely wrong. In the early eighties interest rates hit 18%

[@tho464]

Now you know why realtors drive nice cars and live in large houses.

[@DaD-zo6cj7]

In the end interest rates and home prices have an inverse relationship because of affordable monthly payments. The squeeze of higher interest rates inevitably brings the appraisals down to earth. Even though the home still remains overpriced in my opinion.

[@texastyrannyresponseteam794]

This guy makes the absolute worst decisions always... Lol.. Car deals... Boat deals.. House deals.. You're always getting hosed up good on deals... Constantly.. Lol.. It's just money right?? Gotta keep that in your mind... But.. I have to admit... You don't let it get you down... And that's good... Some people dwell on the bad deals and let it keep them from making more deals.... At least you keep moving and shaking.. I admire that part. Just hate seeing you just hemorrhaging cash all the time.. But... Thats your deal... I guess your wifes family were wealthy or something... Somone has to be financing your constant losing projects..

[@jimmywalters3071]

Not sure if he lost money on the. house deal .

[@texastyrannyresponseteam794]

@@jimmywalters3071 maybe not.. I was just speaking overall.. I've been watching his videos over the years and he's always reporting about how he gets screwed over, scammed, etc.. But hey.. At least he's honest.. I don't dislike the guy... He's ok.. Just seems to have alot of bad luck following him.. Maybe it just seems that way.

[@BigGyz680]

I agree he moved toooo fast, over a 3rd world war probability? Going out selling a sure value to rent another house, wich will go up in rent as much as his house interest and melt his profit like ice cream in the sun?? !! 30k a year? Times 5 years= 150000$ And how about investing in a market that can clean you out faster than real estate…., You don’t ever make a move on speculation…, you take your meds and ride it out

[@texastyrannyresponseteam794]

@@BigGyz680 agreed...

[@mattchanay2233]

Like everything in life commissions are negotiable, I started real estate investing 8 years ago and you learn a lot with experience just like with you and cars, stay positive the worlds not ending.

[@hogfish3881]

You can list on mls yourself for $100-$200 but if you really want to sell, you need to offer 3% buyers fee, otherwise realtor will sway buyers to purchase whoever offers more commission. Realtor needs to be paid flat fee plus 1% commission. 3% on each side is robbery

[@pl6935]

Swaying the buyer because of commissions is not acting in the best interest of the buyer. This is illegal. This is why realtors are useless

[@MrDoritos09]

Thank you for the wisdom always Greg I appreciate your help and understanding on many topics! Keep up the good work god bless you 🙏

[@dyates6380]

I agree with the Real Estate expenses. For what SOME of them actually do, the rates are pretty ridiculous, especially in a place like yours where, as you said, there was NO prepping or staging to be done at all. I know a few Realtors and they really do work hard and many times they get homes in less than desirable areas and I know one guy who routinely has to roll up his sleeves and clean some places up himself. Not glamorous and not in the greatest areas, at times, but he makes a lot of money. I get it that they're professionals, but in a case like this house, you are totally correct. You really didn't need one, but as I know you know, some areas and certain criteria made it more difficult to find a buyer. The old adage is true, location, location, location. You had a beautiful, and basically, brand new house in a lovely vacation area. Other types of dwellings don't necessarily sell that fast. I have used a Realtor to buy three homes, but I also bought one "for sale by owner" many years ago and it was a pretty easy process. I would probably use a Realtor if I was selling my house now, which I'm not planning to ever do, simply because the market is so hot now and homes are in such high demand it'd sell quickly and I think I'd be able to ask a higher amount simply based on the traffic a Realtor would bring through. In SOME cases though, like yours, where a place might be a very quick sell, you're most likely better off doing it yourself. Another great video Craig, and thanks for the upload.