I still don't understand why the fee is based on the percentage of house selling price. Nowadays, everything has become streamline and standard, such as buyer and seller paperwork, disclosure documents, legal documents, etc. I think the seller and buyer agents' fees should be based on negotiated flat fees. 6% of final selling home prices is just way too much. I am not jealous of some realtors' salaries, but come on, a person with a high school diploma and a relatively easy real estate license makes more than some professional or blue collar jobs.
@seanm32262 ай бұрын
I agree with you that you “don’t understand”. Real estate commissions have always been negotiable.
@Houstonbeach2 ай бұрын
Just go get your Real Estate license and go out there and do the same then.
@jeff47492 ай бұрын
@Napskilla Greetings, I do have a real estate license, and I closed 4 deals in the last 5 years as a buyer agent, all for my relatives/family. Full disclosure: I have a full-time job as an engineer with 3 PE licenses. When I represented my relatives, I provided the MLS listing based on their budget and criteria, and I told my them (e.g. my uncle) to check out some photos through Redfin, go to open house, and I can coordinate with seller agent if they really want to see the house. My work was not that much, be honest, paperwork is pretty standard and I referred my friend who does loan to them. At the end, I feel bad to collect 2.5% of $1 million because seriously, I did not do that much again, so I returned most of my commission back to them.
@Knightswoop12 ай бұрын
Freaking realtor made 20 grand on my house in 2 hours. That’s insane money. Yes they sold it quick, but the market was hot. I should have sold it myself.
@jeff47492 ай бұрын
@Knightswoop1 I have a real estate license and closed a few deals all for my relatives as a buyer agent. I am a full-time engineer, so I don't really need that money. I returned most of my commission back to my relatives, again, the paperwork was pretty standard. I did asked my relatives to check it out themselves through open house, Redfin, etc. I can still coordinate with seller agents if they really wants to see the houses. Guess what, I only took them average like 2 or 3 houses.. it was really not that much work compared with my day jobs, negotiating contracts with contractors.
@oma30152 ай бұрын
It should be 2%. 1% each. seriously! What do they do? We find the home online. We could contact the owner to see the home like the rest of the world! They do nothing. The engineers who design the home will get 3-4% at the max and they do it once! Why do we need real state agents?
@kdot71752 ай бұрын
You don't need an agent. The only thing is, buying a home, there's a lot to learn as you want to know what you are signing. But you really don't. You can do it 100% by yourself.
@oma30152 ай бұрын
@@kdot7175 That is a template. They even dont do that lol
@nightowl62602 ай бұрын
In my experience there is price fixing between realtors. They know who is more desperate, the buyer or the seller. It can be suggested by one or the other, that the buyer will pay more , or the seller hold out for more. Realtors don't represent you -- they represent themselves and their own interests. And what do we pay so much for the attorney's at closing??? They have standard contracts and just have to show up to earn high fees.
@Houstonbeach2 ай бұрын
This is so not true. 🤦♂️
@sharonjohnson46362 ай бұрын
Wow! Strongly disagree with that!
@aarontrompeterrealestatebr61592 ай бұрын
You absolutely don't know anything, bud. Buyers suck bad to work with. Take for ever,. Make you work evenings, weekends, holidays for months and months. The only thing now is it will be harder to help them and we won't work with sub-par buyers because we have no idea if we'll get paid for putting up with you.
@oma30152 ай бұрын
6% is too much! It should be 2%. They do nothing!
@Houstonbeach2 ай бұрын
@@oma3015 how long you been an Agent?
@SheLoveSports2 ай бұрын
If you have bought/sold a home before hire a real estate attorney to draw up the contract/offer for you. Then, schedule your inspections.
@rgen282 ай бұрын
It’s about time. No more free lunch. Overall. Fees should be capped at 1% max.
@aarontrompeterrealestatebr61592 ай бұрын
sure . . . work for six months driving hundreds of miles screwing around with people who don't want to listen and then get paid 1 percent on $200k . . . yeah . . . I won't be working with, or for, you.
@nicoles90772 ай бұрын
@@aarontrompeterrealestatebr6159then have a flat rate for showing your buyers around. Not sure what that has to do with the seller? That was the whole point of the lawsuit. You are not working for the seller so there should rightfully be two separate and non related transactions
@Legoman69469Ай бұрын
Where is there a 200k house these days? I’m moving there!!
@Shannon_StammАй бұрын
@@Legoman69469 Michigan
@elainemunro46212 ай бұрын
I live in Hawaii and sold my home in 2022 with a 2% commission and the buyer paid whatever agreement they made with their agent or my agent. Their firm had been selling more homes than any other realtor.
@Agent77X2 ай бұрын
This is in correct here! Both buyer and seller do not need agents! They can negotiate on their own and hire a real estate lawyer at closing if your real estate is over $1 million dollars.
@salvadorbravo41872 ай бұрын
The real problem is the lack of accountability on realtors and the office they work for. Once you are in contract, all your realtor/representative does is sit on his/her hands to wait for a fat paycheck. Keep in mind, realtors DON'T CARE how much of a good or bad deal it was for you (supposedly they're are the professionals to counsel you in your transaction).
@206remyboyz72 ай бұрын
Pretty much forced into a “deal” but really it’s a declarative scam
@seanm32262 ай бұрын
You clearly don’t know how real estate transactions work. But I applaud your carefree comments.
@206remyboyz72 ай бұрын
@@seanm3226 thank you
@aarontrompeterrealestatebr61592 ай бұрын
You don't know anything. Just walk through walmart and look at the people . . . ask yourself which of those morons you'd want to work with for six months to a year and go through a $300k transaction with . . . there's a lot of idiots and just because you can get a loan doesn't mean you are awesome to work for or with, or that your are going to be successful. The only thing this will do is make it harder for the poor to find somebody who can afford working with them.
@edithortiz47632 ай бұрын
It is sad; to know that this time is only good for the rich people!!! Just renting a room is $1500….
@anarojas8442 ай бұрын
Realtor is not really necessary
@seanliu7061Ай бұрын
totally agreed
@seanliu7061Ай бұрын
basically, realtor just a fancy version of car salesman, u can buy a car without talk with salesman just buy in on-line, such as caravan
@csnoremac12 ай бұрын
Buying a home was already near impossible for many people now we gotta pay the realtor too.....ffffkkkkk
@Houstonbeach2 ай бұрын
Exactly! This will only hurt the buyers.
@michelleschweizer90002 ай бұрын
No just go to the listing agent and tell them you want to buy but not pay a re agent. He can do the paperwork for you. Get a good closing atty and do your due diligence.
@kenchu59002 ай бұрын
@@michelleschweizer9000 Maybe I am missing something. How does the buyer get inside the house for a walkthrough without a buyer agent?
@michelleschweizer90002 ай бұрын
@@kenchu5900 call the listing agent. You may have to sign a buyers agency w the listing agent for that one specific house w no fee being paid: they want to sell the house. You don’t want to pay an agent.
@Ttow492 ай бұрын
For sale by owner
@eddieg64362 ай бұрын
…….BEYOND CONFUSING!!!
@yessicaanabel82982 ай бұрын
If you already signed a listing agreement with the agent of the 5% split, prior to this weekend when these changes were announced, is the agreement still valid ?
@cesartrujillo88132 ай бұрын
Yes its valid this is from here and out
@kellyjelly24652 ай бұрын
This hurts buyers!!!
@cesartrujillo88132 ай бұрын
Now it would be more impossible to buy a home. How would this help buyers? Right. 😂😂 now a buyer would need to come up with ? Down payment closing costs and NOW AGENT COMMISSION LOL.
@Agent77X2 ай бұрын
I go with a fix fee for the agent of $500.00 to do the paperwork! They nothing more than paper pushers!😊
@randrewp2 ай бұрын
This will further benefit buyers with money over those with less, unless lenders let buyers fold their buyer agent commission into their loan.
@Houstonbeach2 ай бұрын
That’s a possibility
@lorimcquinn39662 ай бұрын
IMO, this did not address the real issue, the whole industry needs more transparency, less game playing and a elimination of loopholes.
@lioneaglegriffin2 ай бұрын
Like many class actions it was a way for lawyers to collect large legal fees and give the class members crumbs.
@Coisiniiiiii2 ай бұрын
I never thought a $500,000 property could have such an impact! Seeing a video titled "This $500,000 Property Will Crash London's Real Estate Market." is incredible.
@Freelancingzahid2 ай бұрын
Your video is very good ,But There is a problem with the video settings,& sEO If you fix that, you can expect something better.
@salvatoredinunzio41372 ай бұрын
Great news…. About time those salespeople are getting much less than what they were previous paid
@seanliu7061Ай бұрын
I will expect popular location seller will not pay for buyer's agent fees.
@chris-co3ej2 ай бұрын
I use Realtors to sell because they show the property and take the phone calls and prequalify the buyers take deposits, provide contracts. I don't want to do that crap. I let them do that.
@Knightswoop12 ай бұрын
Hello buyer, I’m not budging. I’m just going to pay my 3% to my seller’s agent. 😂😂😂😂
@aarontrompeterrealestatebr61592 ай бұрын
Then let it sit . . . and, for a industry that makes good livings for the often un-educated average realtor . . . maybe you should pay people what you think you are worth, and only take 1 percent when you bring the buyer, if that's they are worth, scab.
@episdosas99492 ай бұрын
housing should not be for profit. its a basic human need. the government should regulate it until its not a profitable market.
@DavidAlemanArdilaАй бұрын
I agree that it is a basic human need, but if you are selling your home you can’t just give it away without getting something in return. This is just how markets work, and it’s the most efficient form of economy that we have. Government regulation usually only has short term gains but making a cap on how much you can sell your home would cause a massive shortage in homes, as well as lower the quality of housing to a significant degree. Hell if they can’t get any profit there then builders and developers would just stop building homes. I do agree though that it is a basic human need.
@TheHustlinHomeGirl2 ай бұрын
Buyers competing for homes and offering over asking by $50k $60k $100k when rates were 2% is the reason home values shot up not commissions lets be clear!!!
@seanm32262 ай бұрын
Yup, and homes prices will remain high when (and if) interest rates lower.
@TYD982 ай бұрын
But interest is not low.
@Ttow492 ай бұрын
I can see for sale by owner becoming huge, half of the home buyers are not going to sign a contract with a agent, that us just stupid
@mousewilson19392 ай бұрын
This kills the buyer.
@cesartrujillo88132 ай бұрын
Now it would be more impossible to buy a home. How would this help buyers? Right. 😂😂 now a buyer would need to come up with ? Down payment closing costs and NOW AGENT COMMISSION LOL.