Major changes to housing market ahead

A landmark settlement with the National Association of Realtors is bringing major changes to the housing market

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[@lynette8918]

Hopefully someone will come up with a way to buy and sell houses without realtors.

[@mauibuilder1239]

Amen! I've done it.

[@nritten6142]

Ive done it, it's not that hard. A free training option for sellers and buyers how to do this without agents would be great!

[@Mlogan11]

TLDR: More transparency with realtor charges that will likely cause their rates to drop out of direct competition. Will get the appearance of more "flat rate" brokers than those who charge a percentage. As one honest realtor said- it's about the same effort to sell a $300K hose as it is to sell a $900+K house.

[@Addis-d3z]

Seller listing houses with 2022 property tax hiding the 2023 property tax which is at least 1000k more than 2022 tax!!! Be careful buying. The property tax will be the assessed by the amount of purchase price 🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️

[@caracoates4834]

Interesting so Buyers are still paying 5-6% and now Sellers will pay an additional fee?

[@Scroll_Lock]

Sellers used to pay everything.

[@tanhvan1]

The change is the opposite?? ​@@Scroll_Lock

[@ebo9963]

@caracoates4834 That's what I don't get, they used to split that 5%-6%. So now do we pay them 3%? We will start house hunting after the summer, and now this is just another thing to worry about.

[@Scroll_Lock]

@@ebo9963 Hope you have money saved for assessors and inspectors. There are more than down payment costs when buying a home.

[@royharper2003]

as if homes weren't expensive enough

[@traveling_tikiman5073]

The system is corrupt. Not showing a house a buyer wants because the agent won’t make as much

[@josecordova5688]

F….that people learn learn you don’t need a RSA……

[@kimtrefethen6993]

Buyer fees are buyers fees. Sellers have their own costs. Plus many assistance programs available to Buyers. However none of that matters much now because the markets has been out of control for some time

[@CaptainSnackbeard]

So people without houses get to shoulder the burden now? Sounds about right.

[@lisaaustin4561]

If you are the seller interview 3 agents! If they are using a lockbox, aren’t using a quality photographer, pulling the Appraisal and having the inspection done before your house even goes on the market then they don’t deserve 6%.

[@Ttow49]

When I buy im not paying fees, plain and simple I'm buying im not the one who needs the money you are

[@LosAngelesSparks]

Old news

[@dons3073]

The suckers market

[@mattgpdx1123]

A good agent works HARD for their clients. Gas/transportation fees to meet/carpool with their buyers, marketing costs for fliers/food/signage/advertising, hosting open houses, setting up viewings, pulling listings, managing inspections, negotiations for closing costs etc. They are so worth the up front contract for good business and deserve compensation for their time. How many folks in other industries have to do up front work for a company to even get hired as part of the application process with no guarantee of employment? Agents shouldn't have to do work for free with no say in the client's decision to cancel their search or switch agents etc. I'm all for this.

[@Scroll_Lock]

Not all agents work hard, that's why they get dropped. If they work hard they don't lose clients and the payout is well worth their time. Don't like it then get a 9-5 and your pay will come in regularly. Never hesitate to fire a lawyer, doctor, or a realtor because it's too important to let a bad fit mess things up. I've seen enough agents that push people into homes quickly which are not right for the buyer, just so they can get their payday.

[@joesmith3590]

It isn’t 1980. Most homes are sold on Zillow and fast. They do deserve some pay just not anything near what they were getting. If the home requires a lot of effort they can get more. 6% is insane