NAR Lawsuit Impact: What Home Buyers Need to Know (UPDATED)

[@LittleCabin]

When we bought our last house 7 years ago, "I" was the one finding properties to look at -- I only needed the realtor to help out with the "process" and the paperwork, so I would definitely want to negotiate down for that.

[@damon-burton]

NAR lawsuit impact is crucial for homebuyers. Your insights on buyer agreements and negotiation are gold. Finding a skilled negotiator is essential in this changing market. Thanks for clarifying this complex issue

[@johnniejacobs3199]

This is one reason I'm glad I was able to find a small house within my budget before this took effect. I had one agent that told me he could get me a house in the area I wanted if I went up $50-75k. When I said I didn't want to do that. He actually recommended I take it out of my retirement. I couldn't believe it. I never called him again.

[@JenniferBeeston]

I am glad you got in and were able to dodge the liquidating retirement agent .

[@ISAIDPFFFFT]

Thank you for putting this out, as a hopeful buyer. I was trying to understand, and now I do 😊

[@fernandosandoval9306]

Money pot! Weed! 🤔🤨🤔or Money inside of a pot!!!!😢😢😮😮😢😢😕🫤😕

[@ftr911drvr]

Yeah i was interviewing agents and upfront made it clear im not coming out of pocket at all. This is commission for them its a 30 year loan for me ill lose them before i go broke.

[@jomaranover-p1f]

I am now in the process of selling and buying .. thank you for this info.. I appreciate your time …😎

[@sandycalame]

"Free money pot of magic" haha! Such an important topic to cover!

[@oliveb6318]

Another great guidance as always . Thank you🌺🌷

[@JenniferBeeston]

❤️❤️

[@Ed_Okin]

Very helpful discussion. Thank you. I noticed a couple of comments that look like they are spamming investment products with some fake comments and replies so I reported them. It really distracts your excellent content and the relevant comments.

[@JenniferBeeston]

Agree, 100%. Investment spam bots are never ending. I report every time yet they come back

[@fernandosandoval9306]

Agent a flat rate! What is 🤔 that means they die!!😢😮😢😢😢😢😮😢🧐🧐🤕🤕😳😳

[@jose09841]

I see this NARA lawsuit as a good thing, its a blank slate now as a buyer we have the full control and can tell our Realtor hey are you willing to take this much for your services?? Whereas before the lawsuit most real estate agents would just collect a set fee like 4 or 5% and expect the seller to pay up. This is total transparency and will lead to more competition among the real estate agents...if they charge too much we move on to another agent I will shop for my agent just like my insurance.

[@MrHendrix999]

The seller never paid the buyers agent , the listing agent/company paid the buyers agent from the total commission being charged to the seller.

[@JenniferBeeston]

Depends on the state. Some states separate it out and the seller was choosing the percentage for each

[@fernandosandoval9306]

NARA LAW SUE !🤔🤔

[@marcusjolly8892]

To me, buyers have some leverage just by simply being transparent about what they can or will pay the agent.

[@OzzieBird]

If you are dealing with two agents/brokers who can't figure this situation out you need a different broker/ agent. It is a simple situation with a simple solution. If someone has a combative attitude, find someone else to do business with. Easy. And do it before finding the property as if the wrong agent finds the right home there is something call "procuring cause" You don't want to go there.

[@aaronanderson3027]

Can't wait to work with this team!!

[@MatthewMadler]

Is a buyers agent a must have? can a buyer go directly to the listing agent?

[@DailyStalkerUpdate]

You can go directly to the listing agent.

[@resole18]

you can, but he will charge you too

[@resole18]

before viewing a property you need to sign a broker buyer agreement

[@markcornacchia4311]

The buyer can use his attorney to draft his offer and final sales contract-no need to use a buyers agent if that’s the route they like to take -😊

[@marquitacooperrealtor]

Yes, you can go to the listing agent, but the listing agent represents the seller, not you, unless it's dual agency. If it's dual agency, all parties will have to agree, and the agent would represent you (the buyer) and the seller. Dual agency is also illegal in certain states.

[@JohnBowl14690]

"Don't get stung...Go with Jennifer Beesting for your real estate needs!"

[@JenniferBeeston]

❤️

[@rondorazio4921]

Ok, it's best to find a buyers agent who will negotiate with the seller. But what if you sign an agreement saying you'll pay 3% (or whatever) to the buyers agent but the seller refuses to pay anything, which they are entitled to do? Then you're stuck paying the buyers agent 3%, right? That's $12,000 on a $400,000 home!

[@MrHendrix999]

The DOJ doesn't have a clue on how the real estate business works

[@russlea6383]

What percentage of the purchase price do you recommend for closing, moving, furnishing, and utility costs?

[@JenniferBeeston]

I wish there was a good answer for that Russ, but it’s going to depend on where you’re buying how much the purchase prices how far you’re moving from etc… way too many variables

[@russlea6383]

@@JenniferBeeston Gotcha. My cost from CA to FLA was 10% of $150k.

[@MsJhook]

Going to be interesting

[@ccgaskell]

do you think there will be a push for agents to try to get houses sold to clients before this NAR effect sets in, in August ? maybe those selling now will have a better chance to sell before that hits ? given the buyers can see what sellers are willing to pay them now, via MLS, vs not knowing after that. Thanks for sharing the info.

[@JenniferBeeston]

I think there’s a little bit of push this month just because the uncertainty for buyers of next month and what’s going to happen in the industry is a hole. If you find a house, you definitely get it but don’t buy a house just because of fears of next month.

[@sidneyjohnson2090]

Hi great video, I'm an agent here in Nevada nad now that this is officially in effect I am getting all sorts of statements from all over the place. I did review the new contracts but Can you just clarify, that if say you get the BBA signed you then Show buyer 8 homes, the contract says with The example you used, they pay $4400 Within 90 days.... they don't find a home..... and you can somewhat tell they aren't being serious and just dragging their feet, you're saying If they do not go into contract and a successful transaction occurs, the buyers are still required to they pay that $4400 comission to agent? And if that is the case how are the agents going to be able to enforce this if they do not pay it, would the agent solely be responsible to litigate on their own?

[@TheHeavenTraveller]

The buyers agent can still be paid by the seller as long as mutually agreed by both seller and buyer. If the buyer agent is not paid, there is no purchase periods. NAR lawsuit doesn’t cause much. NAR lawsuit is the most stupid thing that happened in the US history.

[@AmandaOwen-n9r]

Where do I find an agent who does va home loans? We want to use you as a lender. However, we have no idea where to find a buyers agent.

[@JenniferBeeston]

We are always happy to help. And they don’t actually have to know VA super well they just have to be willing to take guidance. As long as they’re optimistic and will take guidance, they can still be great.

[@martingarcia9485]

Great video,very informative.

[@JenniferBeeston]

Glad it was helpful!

[@stefanintech]

Skeptical to know how this will play out using the VA loan at the end of the year

[@JenniferBeeston]

I think it will be fine as long as you’re working with a good real estate agent if you choose to work with a real estate agent. The agents I work with a lot with VA buyers they all have so many plans. None of them are expecting the buyer actually has money to pay and they know they’re going to have to negotiate for any commission they get same for first time homebuyers.

[@stefanintech]

@@JenniferBeeston if you some for Oklahoma I’d love to get connected! Specifically, Tulsa. I know for a fact you and your team will be the lender we work with, as early as November

[@JenniferBeeston]

We look forward to working with you:)

[@stevenap4594]

Picked a bad time to post this video. There are no buyers 😆

[@JenniferBeeston]

I am seeing lots of buyers

[@Derekparker-hl8sz]

*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*

[@myobmyob2215]

So can you locate VA loan assumptions Thanks

[@JenniferBeeston]

Hey, I don’t look for VA assumptions. I know there’s a company that does it for a fee but I’m not a huge fan of that company. Only assume a VA loan if you’re a veteran and you can swap in your entitlement. Anyone else assuming a veterans loan is taking their eligibility for the life of the loan which harms the veteran

[@myobmyob2215]

@@JenniferBeeston Thanks I'm a veteran looking for options, just heard about assumptions possibility.

[@jaz499]

Found this on the web. Is this accurate? ”veteran-purchasers may not, under any circumstances, be charged a brokerage fee or commission in connection with the services of such individuals…”

[@JenniferBeeston]

This is changed effective in August

[@kuttycrew]

Adding several interviews to find the right buyers agent, all waving an agreement in front of you, adds a complexity to the process. Home buyer loses again.

[@billredding2000]

Yes, I don't see how this NAR "agreement" benefits a Buyer at all...nor his/her Buyer agent. It may force a Buyer to skip getting a Buyer agent and deal only with the Listing agent (not good) -- and if there are less clients looking for a Buyer agent, many of them may decide to leave the profession (not enough work) -- or I guess maybe become Seller agents! ;-) Who thought this thing all the way through (meaning, look for possible "unintended consequences") to see if it was REALLY a good change to go for or not? Especially for Buyers, and even more so for First Time Buyers, who usually don't have lots of spare cash (assets) for the 20% down pay't even, let alone for assorted charges/fees? -- BR

[@ElenaRoud]

I been told today It can be financed

[@JenniferBeeston]

No loan program allows it to be financed so whoever you spoke to has no idea what they are talking about it they are getting creative with their descriptions

[@patrick5028]

You are better off going straight to listening, agent