More on Real Estate Commissions & Open Houses. Audra Lambert 2024

More on Real Estate Commissions & Open Houses. Audra Lambert 2024
You need to know more about Real Estate Commissions and Open Houses!! BEWARE!
This video discusses that fact the real estate commissions are negotiable for both the listing agent and the buyer's agent. There is a new trend where buyers are driving demand not buyer's agents. Its a new world out there and you need to know about it.
Don't pay too much commission video:
• Don't pay TOO MUCH COM...
Looking to interview realtors in your area? I can connect you to a few in your area! Just fill out this this information in the link below and we will coordinate a few agents for you to interview:
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What not to say to a Contractor video:
• Never Say this to a Ge...
Interview Questions to ask a Listing agent (top 13 Questions):
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Video on interviewing a listing agent: • Interview Questions fo...
Interview Questions to ask a Buyer's Agent (Check List):
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Video on interviewing a Buyer's agent:
• Questions To Ask Your ...
Showing a property video:
• Tips for Showing a Pro...
Staging your home Checklist:
lambert.homes/staging-checklist
Avoid a Bad Home Inspection Checklist:
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Showing a property video:
• Tips for Showing a Pro...
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If you are considering moving or selling your property in Orange County, don’t hesitate in reaching out to me.
For more information visit www.LambertGroupHomes.com or give me a call at [phone]
💁‍♀️ My name is Audra Lambert. I am a realtor in Orange County, California. I have over 20 years experience! I lived in this area most of my life. I love what I do and Love where I live! Please reach out to me with any of your questions.
🔍 WATCH NEXT:
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This is not legal advice, nor can I give you legal advice Sorry! Everything here is for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. Nothing here should be construed to form and attorney client relationship. Audra Lambert with the Lambert Group does not render or offer to render personalized investment advice, tax advice, or real estate investment advice. The information provided is for informational purposes only.
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Audra Lambert, Lambert Group Homes
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[@dianewilson2236]

I have nothing but kuddos for you; I watched all of your videos to sell my home FSBO and sold my house in 3 days. I listed it with Zillow for three days but my buyers came from word of mouth. We did everything we could to make our home "shine". We staged it with half of our things in storage, We cleaned the front and back yard, we did EVERYTHING ON YOUR INSPECTION LIST!!! We refreshed the pain, cleaned the carpet, everything off our counters , no tea towels, and no KLEENEX BOXES...😂 thank you, thank you, thank you. We received an all CASH OFFER, NO inspection, no appraisal, no home warranty deeds, flexible closing!!! We are closing in 2 wks!!!

[@AudraLambert]

Diane!! I am thrilled I could help!! CONGRATULATIONS!! So impressed. You worked your tail off. So much respect! Way to go.

[@debbehemmer7694]

Hi Diane, I’m hoping to sell my home by doing a FSBO. However, I have no idea where to begin. Did all of your information come from Audra’s videos or did you get your info from some other sources? If from other sources, would you be comfortable sharing them with me?

[@stevenmartin2070]

Open house not serious buyers many times. Only show house with buyer having pre approval before showing

[@janharper3963]

I showed it every weekend and when any one wanted to look at it. I have moved 14 times ....YES YES

[@DownpourMediaLLC]

Excellent information. Amazing how many agents are still posting dark, grainy, cell phone photos in their MLS listings. Triple digit DOM.

[@AudraLambert]

Ugh...this drives me crazy. This is a disservice. Thanks for sharing.

[@FawnhillFarmhouse]

Audra is 100% right. Your home needs to shine online. Otherwise a potential buyer will continue to scroll to another listing that is more appealing. And your photos online are what is going to drive traffic to your home. And your home must exude an instant emotional connection for buyers online. As a Home Stager since 2006, Audra is spot on. If your house does not shine, you’re leaving money on the table!!!

[@AudraLambert]

Fawn, Thanks so much for chiming in...always good to hear from a professional stager. Thanks for the back up:)

[@florencehendrick4781]

My last realtor told me that, contrary to what you shared, "Realtors will not show a home if the commission is too low"! We dumped her, but I've heard this before...again, this is Florida!

[@AudraLambert]

Well, you should tell that realtor and any other realtor who tells you the buyer's agents aren't going to show your property if you don't give them a higher commission THAT the buyers are the ones who are making the decision. NO REALTOR should ever say that if the buyer's agent commission is too low they won't show the property. WE do not offer high commissions to buyer's agents so that they will hopefully be incentivized to show the property. Besides, buyer's are now responsible for paying for their own representation. A seller is only assisting with the commission if the decide to do so. Florida Florida Florida:) To be fair, this is a shift in the way we have been doing business in the past.

[@Mo.Vintage15]

⁠@@AudraLambertmost of the buyers in our Central Florida area do not pay the buyers’ agent commission, it is common for sellers to agree to compensate the agent (this is even on the higher price point homes). It seems that some of the information that is presented is area specific. No one state seems to handle transactions and closings in the same manner ~ if I remember correctly, closings are handled by attorneys in your state…is this correct? Florida does not use strictly attorneys. We use title agencies for our closings (including mobile closers). The sellers can choose to use an attorney or a title agency.

[@redhatbear1135]

@@Mo.Vintage15Wow, as a buyer I’d insist on picking my own settlement personnel. I did reread what you wrote and yes as a seller I have chosen when the buyer doesn’t have a preference … but then even if they chose I’ve often had my own attorney.

[@AudraLambert]

@@Mo.Vintage15 Hello my fellow realtor...I think you better check on that. The National Association of Realtor's lawsuits have changed the way we are doing business this year. A buyer broker agreement is required for every transaction in my company....from my understanding this is occurring on a national level. Every offer I receive has to have a buyer/broker agreement this year or we cannot accept the offer. The seller has NEVER HAD to pay for a buyer's agent's commission...however, they have cooperated in the past. The lawsuit was about the buyer being forced to pay a higher price for a house because their buyer's agent's commission was already calculated into the price (because the seller was paying the buyer's agent's commission). After the lawsuit, the buyer now negotiates the commission with their buyer first...then they make offers on properties. If the seller cooperates with paying for the buyer's agent's commission, then great. If not, the buyer has to pay. Not making this up. I promise.

[@Mo.Vintage15]

@@redhatbear1135 Can I ask what state your closings have been? Is each side represented individually at the closing table? In my area (I cannot and will not speak for other areas), a typical closing is handled solely by the title company ~ think of them as a central hub for the sellers, buyers, mortgage company, and agents. Most title companies (there are exceptions as there is to every rule) prefer a listing agent to forward the listing agreement once signed so they can start pulling title information to the property to help discover ahead of time any potential issues that can arise…unclosed permits, chain of title, probate/estate issues, etc. As a side note, I don’t know if other states contracts are the same but Florida’s real estate contract (FAR/BAR) is a cumulative contract written, reviewed and approved by both the Florida Association of Realtors and Florida Bar Association. It was last updated on July 1, 2023. It is always interesting to learn different things about how other states handle mortgages, surveys, agents and closings and what is required by each. In my honest opinion, this is why no one can ever say that this is the way it is done and the only way to do it. The biggest quirk I have learned is that not every state requires the seller to have vacated the property by the time of the closing preferably though before the walk through which is typically day/night before closing to ensure there are no issues with the state of how the property is being left in (unless they are doing a lease back).

[@christines1924]

ALL TRUE!! I don't move out of house without looking up items, I dont want to waste time

[@kerrybelt3757]

THANK YOU for this video (and all your videos). My mother of 79 is selling her home (that I grew up in) and buying to be closer to me. It's uber important that she walks through this process of buying and selling the correct way given where she is in her financial life. Your videos have been immensely helpful. Thank you, again!

[@imalivinintexas]

Hello from Texas Ms. Audra 🇨🇱 As always wonderful content and appreciate the sharing of information and guidance.

[@AudraLambert]

Well Hello from California!! So glad you got some benefit out of watching my videos. Appreciate your support. Trying to educate as many people as possible:).

[@ladikmk]

Great video Audra! The real estate world is definitely changing - for the better! Thanks for sharing.

[@AudraLambert]

Ahhh...thanks. I am glad you got some benefit. I do thing the real estate market is changing in favor of the consumer...which it always should have been. Thanks for watching.

[@ClearThinking101]

She is lying she still uses NAR illegal Participation Rule" The DOJ wants buyer to ask seller in their offer if they want the seller to pay for agent, however this agent is still making their seller pay for it, if for some reason these sellers and buyers have to go to court, is seller going to pay for buyer's attorneys too??? Thats why seller should NOT pay for the buyer's agent. Is it like the plaintiff is paying for the defender's attorneys

[@quil10it]

Another good one…thanks!

[@AudraLambert]

You bet! Thanks for watching.

[@mikefults3149]

Once again, very informative and useful knowledge. Thanks for looking out for the consumers.

[@AudraLambert]

You are so very welcome!!! Trying to look out for the consumer:) Appreciate the comment.

[@Ellis1127]

This is great information 👏👏👏

[@AudraLambert]

Glad you think so! Happy to help!!

[@patrickm0007]

Fantastic video!!! I am learning a lot from your videos. Thank you.

[@AudraLambert]

Great to hear! So glad you are getting value out of my videos!! Means a lot.

[@mh3841]

OMG! I just subscribed because you are so helpful. 😍 I sold my office a few days ago and paid 3% commissions to the buyer's agent. I was misinformed I could only avoid paying the commissions to the buyer's agent after July 1. Glad I watched your video today. Now I am free to sell my next property without paying much commissions. You just saved me $270K! THANK YOU! 😘 💓💓💓

[@DriveForShow]

Great video, Audra.

[@AudraLambert]

Glad you liked it! Thanks so much for watching!!

[@jonnaborosky8836]

Thank you.

[@AudraLambert]

You're welcome! So glad you got some benefit!!

[@willalaska]

First rate info and video. Thank you for helping us pilgrims.

[@AudraLambert]

I love your comment...pilgrims...so sweet. Thanks so mcuh!!

[@leo8530]

❤😊 great info. Thnx

[@AudraLambert]

You are so welcome! Glad I could help!

[@vickiemoran5818]

Great Video once again Audra! Very helpful clarification on buyer’s agent commission. Really appreciate you! Hope you are feeling better.

[@AudraLambert]

Thanks so much..feeling much better...thanks for asking. So glad I can help. Really appreciate your comment.

[@isagoldfield7393]

♥️♥️♥️your transparency Audra, you rock♥️♥️♥️

[@AudraLambert]

Ahhh...Thanks you so much! Means the world to me!!❤❤❤

[@beautyallure45]

You go above and beyond providing the knowledge we need to have . Thank you!

[@AudraLambert]

I appreciate that! Thank you so much!!

[@i.am.navkaur]

Bless your heart, Audra. You are providing an extraordinary service by making these videos. I have interviewed two of my three potential listing agents already. I am so happy I've come across your suggestions. I ask every one of those questions and it's such an empowering way to go about this very overwhelming and unknown process. Thank you again and again!

[@studiohost]

I appreciated the previous vid . Straight to the point. This one is awesome too!

[@andreahughes1]

We sold two houses in the last 8 years. One in CA and one in GA! We didn’t agree to Open Houses nor signs in the yard. In the era we are in now, 95% of homes are found online first. The Open House and the yard sign benefit the agent way more than it does me. It’s a great way for her to drum up more business. So for us it was never worth it!

[@AudraLambert]

Times have changed. Its very difficult to get buyers into your house to view it...just my experience. The open house signs help people direct buyers to the open house. Several buyers have purchased homes I've listed off of just driving by an open house. The yard sign is good for that reason too...someone visits a friend in your neighborhood...get curious about your house after seeing the For Sale sign..calls to make an appointment...SOLD. I hate to break this to you, but you aren't fooling anyone by not putting a For Sale sign on your property. Most know it for sale due to the internet. For Sale sign helps buyers find the property...and attract the drive by traffic. I tell my clients if you want to sell your house...then go all the way. The internet has changed EVERYTHING. I do appreciate your perspective and understand where you are coming from...just trying to help.

[@redhatbear1135]

Amen to the online! We didn’t buy that way, but I’ve certainly sold that way, even before the open house! And, with competing offers in a couple of instances. My agent is great with staging too!

[@AudraLambert]

Love it! So glad you had a good experience.

[@isaiahdurenrealestate]

Thanks for your videos I learned a lot from you I am a real estate agent as well. I am learning to be a better agent.

[@AudraLambert]

You know what, I am so proud of you. Good for you. Knowledge is power! You're going to do great. Keep watching my videos, you'll know more than most agents out there!

[@AlvaradoPinup]

Another Excellent Video! You are definitely in the right job, but I kinda think you be good at Stand Comedy as well.

[@AudraLambert]

Ahh...I love to hear that...stand up comedian here I come.

[@jpyang05]

Thanks for informing the people, Audra. Great content as always. My wife and I love your name btw. Hopefully that’s not weird to say. 😅

[@AudraLambert]

Not at all! I love that you love my name...so nice!! Glad you are enjoying my videos!!

[@debbehemmer7694]

Hi Audra! I only recently found your KZbin channel and have really appreciated the info that you have sharing with all of us! It’s been very helpful and timely since I’m planning to list my house in the next couple of months! I was quite surprised to hear you say that buyers are now the ones paying the buyers agent’s commission. Is that just in CA or across the US? I live in Northern Nevada but plan to move back to Oregon, so understanding the commission structure would be very helpful! Thanks Audra!👍🏻👍🏻

[@AudraLambert]

Yes, that is true in Nevada as well. However, you will want to interview 3 listing agents and have them explain how the buyer's agent commission works.. I promise you all commissions are negotiable. Most sellers still help buyers with their buyer's agent's commission so that the buyer has fair representation. Most buyers are having a difficult time coming up with the down payment on a property...much less paying their buyer's agent's commission. Some sellers are offering 0% to the buyer's agent. When a seller lists their house for sale on MLS, the price usually has the commission structure baked into the price. So if sellers are not offering a buyer's agent commission, are they dropping their price to offset the commission their neighbors and passed closed comps in their area have offered? Probably not.

[@cbrisalchemist6887]

I couldn’t stand that the seller of a home we bought was always stuck to us like Velcro. He was a distraction and worse. Never again. I won’t view a home if they insist. We are now going to be on the selling end and I want my realtor to sell it…without me. 😂 . I will be contacting you for agents. 🎉

[@AudraLambert]

Thanks for sharing...I completely agree with you. Happy to assist!!

[@tatalata9796]

Nice outfit ❤

[@AudraLambert]

Thank you! 🤗

[@verifiedthegame]

The typical commission structure in California is 2.5 to 2% because the price point is really high.

[@johnprice6805]

In Texas, all the selling realtors want 3% for the seller and buyer and are unwilling to move on those numbers. They say that the broker traditionally does not go below 3% and they also claim that in order to sell a house in this difficult market they need the 3% to get buyers through the door. Although we have recently seen a variety of realtors and brokers paraded across the media claiming that the 3% has always been negotiable it seems rather set in stone. I feel the only way to lower the rates is to reject the realtor and then get them to lower their expectations when they call back asking why you did not go with them.

[@audiophileman7047]

There's a lot of useful information in this video. Based on what you said, your seller commission ranges between 15K and 80K depending on the value of the home you sell. You also provide full services for this commission. The buyer's agent receives somewhere in the range of 7.5K to 40K on the same sale depending on the value of the home. This may be the case in California, but it is not necessarily the case if someone is relocating out of California like many people in So. Cal. are doing. As it used to be in California, buyers who buy homes outside of California in many cases don't pay a commission separately as a buyer. The seller covers both commissions. I would not try for a reduced commission on a buyer's agent who's helping you relocate to another state. Thank you for the tips on finding an agent and showing homes. I really appreciate your wisdom on real estate. 👍👍👍

[@AudraLambert]

Hello there....as of this year, brokers are requiring their agents across the county to sign buyer/broker agreements. When you are meeting with a listing agent, they will more than likely encourage the seller to offer a commission to the buyer's agent...but they are not required to. The buyer is required now to discuss with their buyer's agent the commission they are willing to pay them (whether or not the seller offers a commission to the buyer's agent). This is not just a California thing...I promise. A lot has changed this year...nationally as it relates to buyer agent's commission.

[@audiophileman7047]

Thanks for the further info. It looks like in at least some states outside of California (most likely red states) the seller is continuing to cover both seller and buyer commissions. If this split commission isn't required by law, people are going to fall back to what they've always done. A lot of this depends on whether it's a buyer's market or seller's market, different motivations for different circumstances.@@AudraLambert

[@angiew4544]

​@@audiophileman7047the seller can offer to pay the buyer agent commission or part of it but doesn't need to.

[@AudraLambert]

@@audiophileman7047 Very good points. I like what you said about the buyers/sellers market.

[@vparker2987]

I’m so grateful for finding your channel!! Thank you for posting this video to elaborate on last weeks video!! Do you have any videos on the best way to keep a house staged when there’s a family of 4 living in it, one of which is a 6-year old boy, and also two cats and two dogs?? lol heeeelllpppp

[@AudraLambert]

Not yet! Keeping a house tidy with little ones around is difficult. You just do one day at a time. So glad you are getting value out of my videos. Best of luck to you.

[@prettypose2676]

I’m doing this right now and it is difficult. Implement daily cleaning so that you are ready at any time for showings and a checklist for tasks-conducted overnight or first time in the morning has been a game changer for me. Baskets, caddies, etc are your friend for organizing and moving items quickly. Hope your house sells quickly.

[@AudraLambert]

@@prettypose2676 It will all pay off. Best of luck to you!!

[@jonnykguitarist8770]

Hello, new subscriber here! Thank you for your videos! I am not sure if you have a video on house molds and what to look for to avoid. Please make a video if you don't already have one. I tried to look through your video clips but i didn't find one. Thank you in advance.

[@AudraLambert]

Thanks so much for subscribing. I do not have one on house molds...great topic. Let me work on that one. Appreciate the recommendation.

[@christiane438]

Following my biggest fear with an older home is moods ! Please make a video !

[@siouxrose7766]

I had a good agent in Savannah, Georgia and my house WAS gorgeous with old hard wood floors, high ceilings, crown molding, fireplace, space, etc. She had a photographer come in to take the pictures. I share this because when I began looking for a home in Florida, I could not believe "the staging." Bathrooms that were dirty, unmade beds, clutter, and just offensive pictures. Did realtors and sellers slack off presuming the seller's market high tide would carry them? The contrast between Georgia realtors' prep and what I noticed in Central Florida was sharp.

[@sag6310]

Enlightened!! We just had an agent tell us she demands 3. 2 percent and she pays the buyers agent 2.8

[@rcwessel]

Wow!

[@RandyDreammaker]

Wish I had come across you sooner, which seems to be the situation this year. Even though your two hours away.

[@AudraLambert]

Hi Randy, thanks so much for the comment. Appreciate your support.

[@caroltrenda1719]

In Colorado does the buyers agent fee need to be listed on the property listing website? All the homes that we see online we see the buyers agent fee listed. Thank you! Great video 😊

[@AudraLambert]

Not sure its a requirement, but all the real estate website I see do post the buyer's agent's commission fee on the sites. This is for transparency reasons.Thanks for watching my video!

[@1slowens]

I've been saying this for decades....Great job and thank you for your "full disclosure.." 8>)

[@AudraLambert]

Thank you kindly!

[@stevenranck5478]

You mentioned that if the seller lists 3% to the buyer agent, but the buyer lists only 2%, the buyer agent would only get the 2%. As another example, if both the buyer and seller each list 1% to the buyer agent, that agent would receive 1%, not the sum of 2%, is that right?

[@minzhong3862]

When I asked the agent about the buyer agent commission yesterday, he told me that I don't have to buy that house if they offer buyer agent commission.

[@lisag1153]

Are these rules or laws you refer to specific to California or nationwide?

[@AudraLambert]

Nationwide...commissions are all negotiable.

[@SwimminWitDaFishies]

I'm in NJ and have sold a few houses (using a real estate agent, of course) in my time. I am familiar with the terms "listing" agent and "selling" agent. NO one has ever disclosed that commissions are "negotiable". Isn't that technically an "omission" that is able to be litigated? And I always understood that the commission was split between the agents. If the listing agent also sold the property, they got 100% of the 6% commission. But if an agent from a different brokerage sold the property, they only received a 3% cut (with the other 3% going to the listing agent). By the way, I am NOT an agent.

[@AudraLambert]

Hello there! When you sign a listing contract, you are signing a commission agreement as well. In that agreement it is not hard coded a set commission amount or split. You have to manually populate the commission fields in the listing agreement. The listing agreement will detail the amount of commission paid and who gets what. The 50/50 split cut is not required and is negotiable. All commissions are negotiable. When you sign a listing agreement you are agreeing to the commission splits/percentages. Its hard to sue someone for something you agreed to. I do agree, most people do not negotiate their commissions because they did know they could. Hence the reason for this video. Thanks for the question...its a good one.

[@oldbird4210]

Hi Audra! I'm trying to soak up all the info you give. I have a question. Our friends sold their country home/ property and their agent represented both then as a seller and the buyer. Is that normal? Without going into detail, it seemed like it was a goofy deal. Thoughts?

[@jpyang05]

Huge conflict of interest one would think. Can you imagine the plaintiff and defense lawyer being the same person? Yikes.

[@AudraLambert]

Hello There! What you are explaining is called Dual Agency. I actually did a video on the topic: kzbin.info/www/bejne/lXK2naJrjZmfd80si=cUf5vqAexFSI4PBb. There are pros and cons to doing this...it can create conflict of interest but not always. Great question.

[@mrllblasi]

Audra, buyer-agent steering, based on buyer-agent commission is alive and well.

[@AudraLambert]

Well, I can't deny that...BUT most buyers are finding the house they want on line and bringing in the buyer's agent after the fact. Buyer's agent's commission are posted all over the internet sites now-a-days...buyers are catching on.

[@NULL-ru2el]

never go with agent with refeerral

[@tidycats151]

Woo Hoo!! Thanks so much for the information! So do I structure the buyers commission in my listing agreement? 4.5 percent commission with 1.5 buyer agent commission? Something like that? Not actual numbers of course . Exciting news!

[@AudraLambert]

Yes, that is correct...you can designate a percentage or even a flat rate if you wanted. The commission does not need to be split 50/50 between the buyer and the seller's agent. Welcome to reality:)

[@AudraLambert]

@@deborahann5552 Oh, I am so sorry to hear about your experience. I promise, if you prep. your home properly, price it correctly, it will sell. Agents can't bully you out of selling your house. I would just make sure its priced correctly. Best of luck to you.

[@AudraLambert]

Hi Deborah, forget the stupid realtors. I promise if you hold open houses and allow buyers to visit your property without their agents, the agents can't block the sale. If they do, report them. I am so sorry to hear this.

[@prettypose2676]

Hi Audra. Thank you for this video. Some buyer’s brokerage agreements are requiring the buyer to pay the difference in commission-if buyer’s agent is demanding 3% and seller only offers 2.5, buyer pays .5. I know you say it is negotiable but these are some of the practices that are occurring and affecting marketability of properties because buyers can’t afford the commission. In other words, these buyers choose properties with higher commissions unless the buyer can bring the difference to the table-and of course they don’t want to. As a seller now in GA it is difficult to negotiate for a lower buyer commission with this in mind. Would love to hear your thoughts on this.

[@AudraLambert]

Yes, this exactly how it works...Which is why if you are a buyer, negotiate your buyer's commission down... OR better yes, only sign a buyer broker agreement per offer. Most buyer's don't know you can have a buyer's agent represent them by property. I would recommend any buyer to only sign the buyer broker agreement once they find a property they like and know what the seller is offering commission. If the seller isn't offering any commission, you may want to negotiate it into the offer or go direct to the listing agent (only if the are good listing agents). Most buyers have a hard enough time coming up with their downpayment...much less paying for their buyer's agent's commission.

[@irynayakubu5530]

yea, interesting to look at the situation from this side!

[@prettypose2676]

@@AudraLambert this is brilliant advice and I wish I knew this earlier as a buyer. Reform is definitely needed and for now agents/brokerages are able to force and control the commission rate. Even if you have a savvy negotiating buyer, the seller is still being forced to offer more since there is no way to know if the buyer negotiated a lower commission. Knowledge is power and I thank you for the work you are doing on educating and making sustainable change towards a more equitable real estate market for all parties.

[@AudraLambert]

@@prettypose2676 You are so very welcome...and yes, change does take time. I do think the industry is changing for the better. Really appreciate your comment.

[@willalaska]

Wow, game changing info. for me, thank you! With internet buyers agents not having the leverage they did. When did the commission structure change? Could bring total commish to 3.5 = 2.5+1? Huge savings! Thank you for making your superb vids…

[@yankeedoodle6293]

I really like this chick 🐥 reminds me of Barbara Corcoran

[@AudraLambert]

Ahhh...thanks!! Appreciate it.

[@Lauracarreira-lj4tr]

6% for key turners and writing a contract! I have had 6 months of NOTHING and $27,000 in fees PLUS she just said $3,000 for paper work.

[@AudraLambert]

I know I know...that's why I am producing these videos...got to know how to navigate around this stuff. So sorry to hear about your experience.

[@smilinjoe23]

What are your takes on selling my house to open door?

[@AudraLambert]

If you are desperate and need cash quickly....its not a bad idea. If you have equity in your property and are in a good market, I'm not sure I'd go that route. Realize, Open door or any investor will buy your house if its in a reasonable area...they just want a substantial discount because they are going to flip it. Hope that helps!

[@smilinjoe23]

@@AudraLambert how do I tell whether I'm in the good market?

[@AudraLambert]

@@smilinjoe23 Well, you can see if the houses around you are selling quickly for top dollar. You could always reach out to a trusted realtor and ask them about your market.

[@kate_46754]

Why do buyer's agents even still exist? I can remember the pre-internet days, but can't recall these ever being a thing in Australia. Watching this they just seem worse than used car salesmen to me. Thanks for the great video.

[@AudraLambert]

Hi Kate, thanks for watching my video. Buyer's agents actually do a lot of work...they are just not (in most cases) locating the property for the buyer now. The buyer is the one finding their properties on line. However, the offer process, inspections, negotiations, coordinating lender requirements etc are something most buyers have no idea on how to manage or what to expect. Its always a good idea to have an advocate on your side when purchasing a home...there are a lot of moving parts...just my opinion. Can't believe you are watching from Australia.

[@KAZHE63]

@@AudraLambertMy agent doesn’t coordinate my lending requirements! I do that! Frankly, it’s none of their business. I just bring my pre-approval letter.

[@AudraLambert]

@@KAZHE63 Well, perhaps I wasn't clear..sorry about that. When I am representing the buyer, I make sure the lender is executing quickly so if there are any hiccups we have time to sort it out. Most do not. As a buyers agent these are the questions I am asking the lender: Has the lender ordered the appraisal, has the Condo cert been ordered, has the closing disclosure been sent out yet? When can the buyer remove loan contingencies? Are there any conditions on loan approval? How long does it take for the lender's underwriting department to review documents? When are loan documents being delivered? When is the loan funding? Most buyers don't know or why I am asking the lender these questions. You'd be surprised at how many loans don't close on time or don't close at all because of the questions I listed above. There is no reason a loan shouldn't fund on time. If there are delays, its because someone dropped the ball. Most buyers out there don't know how to keep a transaction on track. I promise you, most lenders will tell buyers everything is going great...Until its not. As a buyer's agent it is none of my business what the specifics are regarding finances. However, it is my job if you hired me to guide you through the process and avoid any foreseeable pitfalls.

[@paulpierce3875]

If you're previous video was you being sick with a 102 fever then I consider your husband to be one of the luckiest men on earth. 😂

[@AudraLambert]

Laughing...I will let him know you said that. Appreciate your comment!!

[@Rainbow_1981]

Hi Audra, Do you think homes have to be professionally staged or be done by the seller itself or vacate home and make it available instead of staging?

[@AudraLambert]

Yes, of course I think a homeowner can do their own staging. Decluttering and tidying up goes a lot way. My only concern about vacating a property is that a property should be watched during the process. I have heard horror stories about squatters coming in and taking over the property. I am not in love with vacant homes...if you decide to go that route, I would ensure someone is checking in on the property regularly.

[@kaystinebrink1220]

Does the buyer's agent commission come out of the commission you are paying your seller agent?

[@AudraLambert]

It depends on how you set it up with your listing agent. Traditionally, it usually does...but as a seller you are not required to pay a buyer's agent's commission. The buyer must now pay their own buyer's agent commission. However, most home sellers are assisting with covering some of the buyer's agent's commission. You really need to discuss this thoroughly with your listing agent.

[@KAZHE63]

The buyer has always paid commissions! Commissions are baked in to the listing price!

[@AudraLambert]

@@KAZHE63 That's true!!

[@jsmum196]

If you have a higher buyer's agent commission you will get agents calling to show the property. Watch how that grinds to a halt when you lower that commission.

[@Ed_1957]

1. That will soon be illegal, according to the new NAR rules. 2. Buyer agent commissions will not be disclosed during the 'showing' phase, according to the new NAR rules. 3. Buyers are the ones finding the properties, not their agent. Buyers will not stand for property steering and will use an agent who adheres to the new commission structure... which may be a flat fee. Seller-assist will help in that regard.

[@lizhoward9754]

I am confused. In VA, the seller pays all commissions….unless that law changed in the last two years when we bought our house. The buyer’s don’t pay anything. So why did you say the buyer pays a commission? Isn’t this a state by state thing?

[@AudraLambert]

Great question. The seller is not responsible for paying the buyer's commission. However, some do.There were a bunch of lawsuits that occurred last year changing the way we do business. Currently, every broker I know (on a National level) is requiring any buyer to fill out a buyer/broker agreement where the buyer is designating how much they will pay for their buyer's agent's representation. Every offer that I receive as the listing agent has to be accompanied with a buyer/broker agreement or I cannot present the offer to my seller. Now, most sellers are offering a commission to the buyer's agent to assist the buyer with their buyer's agent's commission...but the commissions the sellers are offering are trending down (at least in my area). Some sellers are paying no commission.

[@KAZHE63]

@@AudraLambertbut the 6% that was traditionally baked in seller’s asking price included 3% for the buyer’s realtor. So are sellers lowering their asking price by 3%? I’m betting no! Homes are already ridiculously over-priced.

[@AudraLambert]

@@KAZHE63 That is a great point! I can't imagine sellers who are not offering a commission to the buyer's agent on behalf of the buyer is reducing their ask price by that amount. Really good observation.

[@sag6310]

After interviewing agents I’ve discovered how they all feel they deserve 6 %

[@CatsAreNiceMeow]

My agent got mad at me when I asked if commissions were negotiable. She says she works hard at what she does and brings a lot of experience to the table.

[@BobPenzien]

You know as well I do, that 99% of all buyer's agents don't have a written buyer-broker agreement with the buyers they represent.

[@AudraLambert]

Hi Bob, every offer that is presented on behalf of the buyer has to have a buyer/broker agreement attached to the offer NOW or I cannot present it to the seller. This is my broker's requirement and all the other brokers are following suit (from my understanding). So yes, NOW every buyer's agent has to have one signed. This is in response to the NAR lawsuits that came down this year.

[@coorslighticecold]

These days i think a house will sell its self. If its neat and clean there is no need for staging. There is no inventory the buyers are pleased just to find a nice property!

[@AudraLambert]

I agree...I do use staging interchangeably with house prep...you are prepping your house for sale. Most the homes I sell I use the furniture that is already on the property (unless it is vacant). Cleaning, decluttering, and allowing visitors to move freely through the house is the most important (and pricing the home properly).

[@coorslighticecold]

Sorry I got off the subject of the video, I was going to say on the commission I think 3% to listing agent if they list & sell if a buyer agent comes in 2% to LIsting agent 2% to Buyer agent

[@AudraLambert]

@@coorslighticecold Sounds fair to me!!

[@AudraLambert]

I would make sure they are offering a lot of services for those commissions!

[@jsmum196]

Buyer's agents ALWAYS push toward one property over another.

[@littleigloo5931]

In 2018 I had a realtor who would look at the listing info after we would park at each home and she would mumble under her breath what the commission for her was and if it wasn’t at least 3% she would actually say at the home, “I don’t think we should see this home. I really don’t think it’s worth your time.”. All said she did a lot of other wrongful deeds and her broker backed her up and wouldn’t do anything. It delayed us buying a home, but eventually we found one. Not with her help though. Beware buyers agents do determine what they will show you based on their commission. It happens sadly.

[@AudraLambert]

Hello there! Unfortunately, I do hear of situations like this. However, most buyers are actually finding their homes online or attending open houses now. In my experience, most buyers are relying less heavily on their buyer's agent's finding their home. The buyers are taking matters into their own hands. Most buyer's need their buyer's agent's assistance to complete the transaction...but buyer's agent's shouldn't be directing the sale.

[@owenjay1234]

Commission are negotiable. But you charge?

[@AudraLambert]

Hello there...all commissions are negotiable. My commission varies on the services I provide the homeowner. My full service commission is 2.5%...goes down or up from there if more than average services are provided OR if less is provided. Price point is a consideration too. The seller decides on the buyer's agent's commission.

[@denisriddiford5864]

Why use a buyers agent if they can’t provide any advice or guidance.

[@AudraLambert]

Buyers agents can't tell buyers to purchase one house over the other. They can present facts and recommend things to consider when purchasing a house....and assist with guiding buyers through the process (which is a lot). A good buyers agent is important to represent the requests of the buyer and to protect them though out the process. Sorry if that was unclear.

[@Mo.Vintage15]

Buyers’ agents are the friend you want by your side to protect, explain and run interference for you. They will be your hand holder when issues arise in being able to explain what the issue is, the different ways it can be resolved and what they feel is the best option and why they feel that way. The buyers agents will be the ones in the background making the phone calls gathering information from each party involved and what is needed. By doing this, can potentially save their clients hours of going back and forth not completely understanding the process. However, all of it is still solely the buyer’s final decision. The agent is the person relaying the information in relatable terms they could understand.

[@slf994]

Every word is true , I swear by my tatoo

[@AudraLambert]

Laughing..thank you. I love the swear by my tatoo.

[@ThisIsTheMajor]

A buyers agent refusing to show a property is illegal? California actually has a law prohibiting this?

[@AudraLambert]

Agreed!!! If buyer's or buyer's agent ever come across this, have the buyer's knock on the door, leave a note, and report them to their local association. That's just terrible!!

[@ThisIsTheMajor]

@@AudraLambert You mentioned in your video that refusing to show buyers property's is illegal in CA, 4:23. There are laws or statutes against this?

[@jsmum196]

Reporting bad agents to the Real estate commission does nothing. You have to fill out paperwork and they WILL always side with realtors. Always. It's a RACKET.

[@jsmum196]

Buyers agents ALWAYS discriminate. They do it here in Vero beach constantly! They tell the buyer some story of how they don't want "that" property. Their opinion holds weight since buyer relies on them.

[@KAZHE63]

As a buyer in a ridiculously over-priced market, there is no way I am paying the buyer’s agent a commission. No way. As you said, they do next to nothing.

[@AudraLambert]

Well, I disagree that a buyer's agent do nothing...they can be extremely helpful assisting buyers through the process. However, they are not the primary people driving the buyer to the property in most cases.

[@Mo.Vintage15]

Then I am certain the buyer’s agent was just as assured that they would not continue representing you if no commission will be paid. They don’t work for free. Those “do next to nothing” agents are the ones that write up the contract to the home to all 15 if decided to cancel a contract during inspection timeframe. Wash and repeat for a few more times…that you decided you want, follow up if not accepted within the timeframe stated, submit a copy of the contract to your mortgage company so they can begin their next level of advice. The agent can also ask the listing agent for the information regarding when does the garbage, recycle and bulk pick up occurs; the names and the cycle they clean pool equipment.

[@KA-mq4wj]

The buyer’s realtor is driving you to home showings, negotiating the sale and helping you with inspections, appraisals and closing. They don’t work for free.

[@AudraLambert]

@@KA-mq4wj I agree with you! I just closed escrow on a buyer I was representing today. It was a ton of work!!

[@KAZHE63]

@@AudraLambertwe are not “ton of work” buyers. We have zero debt, great savings, credit, seasoned buyers. Nobody needs to hand-hold us. We have our own inspector and lender.

[@stevend8785]

Both buyers agents and listing agents are overpriced. They put it on the MLS and if it’s priced right it will sell, if not it won’t.

[@AudraLambert]

Well, I disagree....but you have a right to your opinion. I do think some agents shouldn't earn what they do...but others are definitely worth it. I do think if you prep your home well, and price it well and take amazing photos and marketing the house correctly, the home will sell quickly. However, if you aren't using an agent, how much are you going to leave on the table regarding negotiations, repairs, and potential risks of someone suing you. Just saying.

[@stevend8785]

@@AudraLambert The most important thing you have is a monopoly on the MLS, which electronically updates to Zillow, etc. where customers find homes. If ordinary people could put their property on the MLS, you’d have no job. I’m not saying that to be spiteful. The contracts are done by software and the title company does the heavy lifting. The 6% commission was established when prices were much lower. It’s now 10’s of thousands of dollars and it’s not like you’re doing magazines, mailers, and phoning other agents anymore. I’m trying to buy a house right now. The seller tried FSBO at $620,000. Of course, Nobody knew about it. Two weeks later it’s listed with an agent at $650,000. His most realistic comp is a home in the same development, same builder, same basic model (with some different features), in much better condition, sold for $600,000 a few days ago. This guy wants me to pay his $36,000 commission. This is in Kansas City where $600,000 is a lot of money. On the other side, my buyers agent isn’t doing much to advise me. It seems his best interest is to do anything to make a deal happen so he can get paid, even if it meant me overpaying a lot.

[@gjm456]

Audra , aren't you also a buyer's agent ( %? ) of the time ?

[@AudraLambert]

Thanks for asking. Yes, I would say I am 90% a listing agent and 10% a buyer's agent. Most the buyers I work with just call me up and say, "we found a house and want you to represent us." Crazy how it works now-a-days.

[@MrPhucktard]

I find your videos to have a ton of good information. However, I don't buy your argument about needing to make more than $10K per transaction to cover a potential lawsuit, unless you are getting sued by half of your clients and/or buyers, which I doubt. Any potential seller who thinks your justification is valid clearly has no idea about real estate operations. I would guess that you are successfully sued by less than 5% of your clients and/or buyers, which means that your pro-rated deductible per transaction would come to no more than $600.

[@AudraLambert]

Hi there...its just a consideration for my risk of doing business. I live in California...very litigious state. Luckily I have avoided lawsuits so far (touch wood). Anyone in any business should calculate risk into their compensation. Appreciate your comment.

[@schex9]

What kind of surgery did you have so that your top teeth are always showing while you talk?

[@AudraLambert]

Laughing. I have a weird mouth. Good news is I don't eat off my lipstick.

[@lazmett2974]

Real estate agents like you should stay away from everyone.

[@AudraLambert]

Laughing, I am actually trying to help the consumer. Helping others know their rights and able to protect themselves. Not sure why people should stay away from me. Just trying to help.

[@willalaska]

You are helping the consumer. I’ve learned more from you than I learned from buying 3 homes and 2 lots. You’re awesome, we are lucky to have you.

[@AudraLambert]

@@willalaska Wow..you just made my day. Its been a rough day too. So glad I am helping you. Appreciate you watching my channel.

[@lazmett2974]

You also look very cocky

[@AudraLambert]

I am confident and passionate about what I am sharing on line. If that looks cocky...OH well. My heart is in the right place.