Will Buyers Have to Pay Real Estate Agent Commissions Now? - Everything You Need to Know

[@RichardSchlosser-x9l]

We did more work finding houses to view than our realtor did when we bought our current home! The agent was trying to direct us to houses she wanted to show us in areas we did not request. We had to search MLS ourselves and tell her the ones we wanted to see. In several cases, she told us we couldn’t see certain houses because they were sale pending when, in fact they weren’t pending. She lied to us about several houses. She definitely didn’t deserve what she was paid by the seller.

[@JoshAlexanderRealEstate]

This is the exact reason I think this ruling will be a good thing for the industry, the barrier to entry for a real estate agent is too low and too many agents are part time, this will force buyers agents to show more value to warrant their price.

[@myfivestarrealty]

kzbin.infopfEB-vVksyA?si=qOv1PwIiVexQkPbd

[@damham5689]

Real estate agents always lie and they often omit info on the property they know, which is also lying.

[@myfivestarrealty]

@@damham5689 really....oh goodness guess you speak from experience...lying

[@jchambers5668]

😮 So sorry! That's not legal. Did you report them to your States real estate board?

[@binki611]

This is a solution looking for a problem, aka, government making things worse.

[@Rintin820]

I could be mis-reading it but it seems like the expert negotiatiors are getting even more negotiation power to possibly work over buyers and sellers

[@JoshAlexanderRealEstate]

thanks for the comment, do you mind explaining your thoughts on this?

[@sonarvord]

How do you think this will impact new home sales and builders? They have been able to keep a lot of the transaction in-house with walk-ins and direct to the buyer sales. Now, a lot of these buyers dropping in will be under a buyer contract. Or a lot of new home buyers are probably turned off by the buyer contract complexity and will avoid a buyer contract unless it really applies to a home they like. Hmmm.

[@JoshAlexanderRealEstate]

Good question! I don't think it will have a major impact on new home sales. The way it's always worked is if the buyer has an agent and the agent goes with the buyer during their first visit to the property, the home builders agree to pay a commission to the buyer's agent. This works differently than residential sales. New home builder are still allowed to advertise directly on their website what they are willing to pay a buyer's agent for compensation, they just can't list it on the MLS. Builders have always tried to cut out real estate agents on transactions so I'm sure that won't change either.

[@christineawoolley334]

This seems like the fair way of doing things. If I need an agent to sell my home...then I pay because they represent my best interests. If you want to hire a buyers agent to work for your interests...then you pay. Makes perfect sense! Why should a seller pay for an agent that is quite literally working for the other side? Its always been wrong! Now either or both sides can decide whether they need an agent. This gives the power back to the people essentially to decide.

[@JoshAlexanderRealEstate]

I agree, in general it's a good thing for the industry and will by default get rid of agents that don't provide value to their buyers. It does hurt those who don't have funds to pay an agent, or can't get the seller to cover enough closing costs so the buyer can then pay their agent but other than that I think it will be better in the long term for the consumer.

[@larryjones9773]

@@JoshAlexanderRealEstate The whole 'sharing of fees' was an illegal way of inflating agent income. That's what this last five years of legal cases has been about. Your industry was caught stealing money from homeowners.

[@JoshAlexanderRealEstate]

Every state is different but here in CA the contracts were pretty clear in stating all fees are negotiable and it’s up to the seller and selling agent to determine for marketing purposes if they wanted to help pay for buyers fees to get more buyers to view and place offers on homes. However, I do understand that like most industries there are some agents as well as some contracts that were not clear about the fees which is where the lawsuit came from. Again I think this is a welcome change that will do a better job at weeding out those bad agents as well as making contracts more clear for home sellers which is a win for everyone.

[@myfivestarrealty]

​@@larryjones9773really stealing... you are so out on the left side...lol Guess you never bought or sold any real estate. 😅

[@larryjones9773]

@@myfivestarrealty I'm a class member in Burnett v. NAR et al. The Missouri jurors unanimously voted GUILTY, on all counts. This case revealed the largest financial crime in U.S. history. You are uninformed.

[@myfivestarrealty]

Why was buyer agency created? It started because of another class action lawsuit back in the early 1990s. Buyers and sellers sued Edina Realty in Minnesota because buyers were working with agents in their firm on the purchase while other agents in the firm listed the property.

[@JoshAlexanderRealEstate]

Exactly 👆🏻 this is why I believe we are going to see a bunch of new lawsuits as buyers go directly to the sellers to purchase their home and we will see dual agency banned in most, if not all states, in the next few years. In some cases it can work out, but it's almost impossible for one person to represent both the buyer and the seller's best interests 100% of the time and usually it's the buyer that is going to get the short end of the stick.

[@patrick5028]

Am buyer am going straight listing agent avoid paying buyer fee

[@JoshAlexanderRealEstate]

always an option, but remember there will be a lot of sellers still willing to pay fees if you ask, don't want to miss out on being properly protected in one of the biggest transactions of your life, especially if it don't end up costing you anything in the end.

[@myfivestarrealty]

Oh in a divorce you use your partners attorney 😮 or you pay for your own 😅

[@jillwatson1197]

You think the listing agent is going to double the work for no compensation!?!

[@aalhdy]

@@patrick5028 here you go ,even before they change the buyer’s agent law, buyers goes direct to listing agents, for them to get the offer as the listing agent sells it to buyers who they come direct to her instead of using another agent, buyer’s agent been struggling putting offers and offers that doesn’t go anywhere because the listing agent takes her buyers, Fact.

[@barefootbarbie]

#4 Represent Yourself ... so, will the listing agent show their listed home to you w/o the Buyer's Agent contract? I'm a licensed realtor, but do not have lockbox access to view homes alone. Thanks for your help!

[@JoshAlexanderRealEstate]

The only time a listing agent can show a home without a signed agreement would be if they hosted an open house and the buyer walked in. If the listing agent takes you on a private tour the buyer will need to sign something with them first.

[@lilymd888]

There are new forms at open houses and the agent can refuse to tour the unrepresented buyer unless they sign the form. Also, these forms can allow the agent to show the prospects up to 3 properties. When the buyer enters into a contract with an agent, that contract is only good for 3 months renewable.

[@JoshAlexanderRealEstate]

Correct, not sure why any agent would refuse to allow a buyer to walk into an open house but there will be forms for those that want to use them. Also correct as I stated in the video the buyer broker forms are good for up to 3 months max and can be as little as just a single property, flexible enough to make it easier for agents and buyers.

[@lilymd888]

@@JoshAlexanderRealEstate I have been in the business for 10 years and I think this change is good for consumers and good for agents especially buyer's agents.

[@JoshAlexanderRealEstate]

I agree, it will make the quality of buyers agents go up giving the consumer a better experience in the long run. However there will be some challenges for those who want professional representation but don’t have the means to pay for it especially if we are in a sellers market where the seller will be less willing to help the buyer with some closing costs.

[@allans7281]

Excellent review I enjoyed listening to you Nothing really changes sellers are still going to try and get top dollar expect to pay buyers agent

[@JoshAlexanderRealEstate]

Yes, top dollar is very often the top priority for sellers, second? The chances the transaction will close with the buyers they go into escrow with. Great agents with a good track record of problem solving are going to thrive on both the buyer and seller side of the transaction and not much will change for them👍🏻

[@Tomtart1]

If you hire an agent to represent your best interest in a major purchase, then why should the other party (sellers agent) have to pay for your agent as well as theirs? Makes no sense!

[@JoshAlexanderRealEstate]

Sellers typically offered compensation to attract as many buyers as possible to their homes, if the buyer didn’t have a lot of extra funds then this made it more attractive to place an offer on a home knowing the seller was going to take care of some of the fees. You could also look at it as buyers were able to finance the cost of having separate representation into the cost of the home which now they will be unable to do until lending practices change(which I won’t be surprised to see loans out there eventually that allow for the financing of agent fees to help out first time home buyers and those without a giant amount of cash on hand)

[@christinajarriel3423]

wouldn't this make it more expensive to buy a house? or will down payment/ closing cost be higher to cover the buyers agent fee???

[@JoshAlexanderRealEstate]

It won't lower the costs of buying a house but it could raise it. It all depends on how much, if any, the seller is willing to credit the buyer at the end of escrow so they can use that to help pay for things like agent fees. It's still early, but over the last two weeks since these rules have been implemented it seems like most sellers are still willing to credit the buyer enough money at the close of escrow to help them cover most if not all of the cost of using their own agent but I'll continue to provide updates on this channel as to what the "new normal" is going to look like as things evolve.

[@terrysegapeli1525]

Can you just hire a real estate lawyer? That’s how I bought my first home because the seller didn’t want to go with a realtor and asked us to not use one either. It was just a flat fee for the lawyer and he gave us great advice. Can a buyer still go to open houses and builders on their own and use the real estate lawyer to do all the paperwork?

[@JoshAlexanderRealEstate]

Yes, using a lawyer is always an option, however there is a reason most lawyers use a real estate agent when buying their own home, the contract is just a small part of the purchasing process and unless they are very familiar with all the ins and outs of everything else you need to be doing to protect yourself during a transaction it will put you at a big disadvantage when trying to get your deal accepted as well as actually closing escrow.

[@jeremyhalstead6996]

I paid closing cost when buying my home. There is no way the new buyer is not paying closing cost when I sell this home. Question, how will it work for someone selling a home without a sellers agent since they’re probably won’t be a MLS anymore?

[@JoshAlexanderRealEstate]

If anything buyers would be paying the same or more closing costs then they do now but not less. Don't think the MLS is going anywhere for a while but even so if the only value you see using a real estate agent is them being able to put it on the MLS you can already do that yourself by paying a company a few hundred to do that.

[@maximusmax5077]

screw buyer agents, I'm not getting locked into some contract just to look

[@JoshAlexanderRealEstate]

This is why, just like when selling a home, it’s now going to be very important to interview a buyers agent before agreeing to work with them. Get to know them and how they operate, sign a short term contract of a week or two to test them out and if you are happy with their level of service you can commit to the using them more long term. You are also able to sign a non-exclusive agreement that would allow you to work with multiple agents to find your home but make sure it’s explained to you property before going down that route.

[@maximusmax5077]

@@JoshAlexanderRealEstate And get a lawyer just to review each buyer contract. Perfect!

[@JoshAlexanderRealEstate]

If you have a lawyer then it’s always good to have them review the contacts but for California the contracts are now written in a way that are much more consumer friendly and very easy to understand the terms. Find an agent that can explain it well and interview agents until you find one that you are comfortable with is always going to be my top recommendation as we start these new rules.

[@Now3ssb]

⁠and pay endless fees to a real estate attorney to review docs, and resubmit offers back and forth. Probably not the best route

[@JoshAlexanderRealEstate]

By the time you are finished with the transaction it can definitely cost you more to use an attorney especially if you don't get the first house you submit an offer on which can often be the case if the market is favoring the seller. Not to mention all the legal documents and disclosures you have to review during the escrow process.

[@nathalielundor2456]

I will go back to my country to do more investments, too much unnecessary confusion and complications. Thanks.

[@parthppatel28]

As a buyer I would rather pay by agent directly and tell them to NOT take anything from sellers agent and reduce the price of a house by 2.5%. is negotiate a compensation that goes higher based on the amount they negotiate down. Now that's fair.

[@isaacarteaga6141]

Thank you my friend I really appreciate it your information very very nutritious😊

[@JoshAlexanderRealEstate]

Thank you! Not sure if my content has ever been called nutritious before though, but I'll take it! 🙂

[@Poseph]

Great summary and advice

[@JoshAlexanderRealEstate]

Appreciate it, hope it was helpful!

[@GaryShirkPV]

As a buyer, can I sign multiple simultaneous contracts with different seller's agents; OR, once I sign one contract, do I have to work with that seller's agent exclusively for all properties that I might be interested in?

[@JoshAlexanderRealEstate]

Good question, in California there will be a box that can be checked that says exclusive vs non-exclusive. You can have multiple non-exclusive contracts at once with different agents however when one of those agents starts doing work on a specific property for you(setting up private showings, writing the offer, looking up comparable sales etc) then you will need to work with that specific agent on that property. If on the other hand you check the exclusive box then you will need to work with that agent on all properties for the duration of the contract. So definitely read what you are signing and select the option that works best for you. Hope that makes sense.

[@lilymd888]

@@GaryShirkPV I don't think it's a good idea, because you might owe compensation to multiple agents.

[@JoshAlexanderRealEstate]

You do have to be careful and know that if an agent shows you a specific home then that is the one you need to work with and if you sign an exclusive agreement with another agent you could run into issues. This is why I stress in the video to do your research up front, interview a few agents, and find an agent you want to work with exclusively so you don’t have these type of problems when buying a home.

[@larryjones9773]

I'll be buying in Orange county in a couple years. I don't plan on signing a contract with a seller's agent or buyer's agent. I plan to avoid their outrageous fees, entirely. I'm perfectly capable of viewing homes for sale online. For the ones I'm interested in, I'll contact the seller's agent (door opener) to view the homes. For the one I want to put an offer in on, I'll get a standardized purchase contract from the seller's agent, or online. I'll make my offer and if accepted, then the deal is done. And I will have avoided the outrageous agent fees, altogether.

[@lilymd888]

@@larryjones9773 We wish you the best of luck!

[@damham5689]

A buyers agent doesn't do as much nor do they have the cost of listing a home for sale. So the buyer agent % should be a lot less. I myself would also require an itemized bill justifying their fee before being paid. If I buy a million dollar home my real estate attorney reviews and manages the details like clearing the title and all legal things related to the property. Real estate attorney is actually cheaper than a buyer agent as lawyers charge by the hour. The buyer agent is more like an introduction service.

[@JoshAlexanderRealEstate]

Sounds like you’ve had some bad experiences with agents which is exactly why I think this settlement will benefit home buyers. It will force those agents that just open doors out of the industry and the ones that spend time and money helping you find homes not on the market, actively help you save money on the home through negotiations, getting things repaired, managing the right professional vendors to inspect the property to get you not only the best deal but also make sure you are staying financially and legally safe during the whole process will thrive giving the end consumer a much better experience.

[@JaySkywalker.]

I’ve been trying to find a real estate attorney to give me advice in reference to my needs for a purchase. Every one that I’ve called only wants to charge me for drawing up a contract…not one was able to tell me if I was covering all bases in the stipulations I provide; even though I am willing to pay. I feel like I may as well draw up the contract myself and hope for the best. If a real estate attorney doesn’t give you any legal advice, what’s the point? Anyone can download the contract and Docusign.🫤@@JoshAlexanderRealEstate

[@JoshAlexanderRealEstate]

almost all real estate attorneys I've dealt with understand what a contract is and how to add things that legally protect you but don't know how to get an offer accepted or make it competitive while still giving you those same protections. They don't know what the home is worth, they don't know what contingency periods you'll need to stay protected but at the same time be competitive, what vendors to use to get inspections, how to talk to the seller agent to get a better chance of your offer getting accepted, etc.. The contract is only a small portion of what makes up a real estate transaction, which is why it's great to have a real estate attorney on your team but they aren't typically the best person to walk you through the entire transaction and give you advice based on the specific market and home seller's circumstances.

[@scalecraft4663]

at the end YOU sign a document releasing the brokers and agents of all liability.

[@JoshAlexanderRealEstate]

No true, at least in CA

[@BulletSpoung]

If you sign this agreement to use an agent exclusively for the next 30 to 90 days. I would think they would be forced to drive long distances to show a home in another county or state, being that you are no longer able to use any other agent. One other thing, now sellers can use this buyers agreement to help keep buyers with no money out of there home during showings by not paying the buyers fees, thus open the door for better and higher quality buyers. Over and over sellers have wasted time and have pass up good buyers when they found that the current buyer can't afford to pay and the deal falls apart.

[@JoshAlexanderRealEstate]

Thanks for the comment. So for clarification, when you sign a buyers representation agreement you specify the area and time the contract covers in the agreement. You can make the agreement cover as little as a single property or expand it to cover a city, county, or region. So the agent and buyer should both understand the scope of what the exclusive agreement covers before signing. As for sellers keeping buyers out of the home, it really makes no sense to do that. There have already been plenty of cases where the buyer asks for closing cost credit to help pay for their agent and still came out with the better and higher priced offer so you would just be eliminating more chances to get the best price for your home if you didn't allow anyone in that wanted to negotiate on these terms. Hope that clarified some things, thanks for watching!

[@travisr4321]

I just paid 6% and I feel screwed. I will be looking for FOSB or auctions.

[@JoshAlexanderRealEstate]

for buying or selling a home?

[@travisr4321]

@@JoshAlexanderRealEstate Sold.

[@travisr4321]

@@JoshAlexanderRealEstate Selling.

[@JoshAlexanderRealEstate]

If the agent is providing enough value then it could be worth it but at least here 6% is on the high end for most home sales.

[@travisr4321]

@@JoshAlexanderRealEstate Fsob= end of agents.

[@DEG1985]

Buen video y buena informacion, gracias

[@JoshAlexanderRealEstate]

Glad it was helpful!

[@dosmasdos9542]

If you are buying a turn key ready home you don’t need a buyers agent. Just use AI or attorney to submit an offer, in the offer include no need to pay a commission to buyers agent because you don’t have one and your offer will be more attractive

[@JoshAlexanderRealEstate]

There are still price research, property research, inspections and appraisal negotiations, not to mention all the disclosures that come with buying a home that if you don't understand could cost you thousands of dollars, AI will definitely play an increasing role within a real estate transaction each year but leaving one of the biggest most consequential transactions of your life to a computer isn't realistic, yet. Also, at least here in California most attorneys don''t understand how the real estate transaction works, I've had plenty of attorneys almost lose a buyer a home because they were giving bad advice based on a subject they aren't experts in. Is it nice to have an attorney as part of your team, yes, but unless they are extremely familiar with how real estate transactions work in the area you are buying a home(in California there are actually differences between northern and southern California when it comes to the flow of a transaction), it's still smart advice to have an experienced real estate professional who can guide you through keeping you legally and financially protected.

[@larryjones9773]

@@JoshAlexanderRealEstate The rest of the world gets along fine without buyer's agents. America's system was a rigged system. No intelligent buyer is going to pay thousands of dollars to a buyer's agent, who simply acts as a door opener. Buyers can use the Internet to get what they need. The seller's agent can do the 'door opener' function (that any idiot, or robot can do).

[@JoshAlexanderRealEstate]

One of the biggest misconceptions about real estate agents is that they are just door openers but appreciate your opinion and I can see why some people thing that due to all the tv shows out there about our industry that just show agents showings homes and creating drama.

[@edantes2008]

@@JoshAlexanderRealEstate How about just getting a Real Estate attorney?

[@JoshAlexanderRealEstate]

Same thing as above, a real estate attorney is nice to have but they aren't doing complete transactions so unless they are also an active licensed real estate agent it's going to be hard for them to navigate the transaction in a way most advantageous to you. There is a reason a good portion of real estate attorneys still use a real estate agent when they buy a house, it's a different skill set.

[@zz5guy]

Good. It's not hard to represent yourself and negotiate directly with the seller. Make your offers contingent on acceptable appraisals.

[@JoshAlexanderRealEstate]

If you are doing transactions with home all the time then this is a strategy that could work, a lot of investors for instance will go directly to the seller because they are familiar with the contracts and have a price in mind based on the research they do. However, for most people they buy homes on average every 11 years, contracts change drastically as well as the market is always shifting so doing it by yourself in most cases is not something that tends to get you the best results. Going to the selling agent who is already contractually obligated to look out for the sellers best interest not yours can obviously present a lot of conflict of interest as well, but again this is why contracts are negotiable and everyone has the options to do any of these choices depending on their level of experience and risk.

[@PeanutsandPopcorn]

It’s not that simple.

[@aalhdy]

I show buyers more than 7 houses each time they want to see houses plus writing offers W no limit.

[@mrfine00]

I like your explanation, pretty clear

[@JoshAlexanderRealEstate]

Glad it was helpful!

[@allans7281]

I was always concerned with steering where buyers agents only look at properties with big commission this certainly eliminates that

[@JoshAlexanderRealEstate]

I never thought that was a big issue once all the info from the real estate agent MLS went public and syndicated to places like zillow and redfin because that gave the public access to most of the same homes the agents knew about so buyers are often dictating what homes they want to see now not the agent. But there are always going to be bad agents out there looking for a paycheck instead of having the best interest of the client unfortunately.

[@RoscoPColtrane17]

Professionals need to get paid. No service is free.

[@JoshAlexanderRealEstate]

agreed! The agents who provide the best service to their clients in this new system will stand out that much more and crowd out the mediocre ones. I consider that a win for buyers.

[@jessicalubien5424]

The VA really needs to update their loans as a result of this big change.

[@JoshAlexanderRealEstate]

They are now allowing seller credits so should no longer be an issue in most cases 👍🏻

[@jessicalubien5424]

@@JoshAlexanderRealEstate ty!

[@JoshAlexanderRealEstate]

no problem 🙂

[@johnsciara9418]

There is so much that I disagree with here that it would take another 15 minute video or pages of comments to cover it all. Bottom line is that it has always been the buyer who pays both the listing agents fee and the buyers agent fee. One person walks into the closing meeting with a check for the purchase price of the home and another person walks out of the room with a check and its not the seller writing a check for the purchase price of the home.

[@JoshAlexanderRealEstate]

Yes you can look at it that way however in that scenario the buyer was able to effectively finance the cost of using an agent however with the new rules the seller would have to agree to cover the costs or the buyer then would need come out of pocket instead of being able to have the price “baked into” the cost of the home. Also I don’t expect sellers are going to reduce their asking price now by a percent or two so in the end the buyer will still be paying a premium for the home compared to before it went into effect and depending on the market might be coming out of pocket more to purchase a home.

[@joeswanson733]

these new rulees are stoopid

[@JoshAlexanderRealEstate]

Definitely a new way of doing things. I think it will take 6 months or so for everyone to adapt but ultimately I think it’s a good thing for the industry

[@ismailm5940]

Dual agency works great on an As Is deals and/or bank owned deals Even before this law came to existence I have used sellers agent write me up a contract on several deals

[@JoshAlexanderRealEstate]

Dual agency can work out fine in some cases however negotiating with the seller and selling agent when the selling agent knows all your cards makes it likely that you end up either overpaying for the home or losing out on some money at the negotiation table. Again, this isn't always the case but I believe it will eventually become illegal in most states as buyers start suing more often for the poor representation giving to them by the seller's agent.

[@md0246]

2% for the listing agent and 1% to buyers agent paid by the seller is how it should be. The sellers agent has all the expenses. Listing and marketing fees. Buyer agents are nothing but door openers.

[@aalhdy]

Buyer’s agent works double if it’s not triple as the listing agent. Enjoy buyers.

[@damham5689]

Agents shouldnt get a dime for making a list of MLS because its free for all to access and any home buyer who isnt in a coma searches mls and then hire the buyer agent be Vanna White and show you the home.

[@JoshAlexanderRealEstate]

If an agent only opened the door for you and sent you on market listings and then disappeared when you wanted to make an offer then I completely agree

[@cj90014]

Sorry, the "dual agency" is how we have purchased our last couple homes. Worked out wonderfully. If the buyer is stupid, yeah, maybe a problem. But if the buyer is paying attention at all, can work out great. These transactions are not rocket science and avoiding low level Real Estate Sales people is a great side benefit. Based on what I am hearing- find the houses you are targeting and go to selling agent(s). Cut to the chase. If sleazy agent, then you can consider representation or have an attorney review docs.

[@JoshAlexanderRealEstate]

Dual agency is definitely an option and in some cases it can work out just fine, however I've seen too many buyers end up offering more than they had to on the home because they weren't presented with the proper comparable sales info and didn't understand the current market conditions. Plenty of money can be left on the table as well during repair request negotiations with the way it works here in CA. So although it's still legal here(it's now illegal in at least 7 states) there is no real way for an agent to represent both parties equally in the transaction so it becomes more risky.

[@ItsFlowersForMe]

I have heard this from so many people and then when they tell me the specifics of the "deal" I usually find a boat load of ways they got the short end of the stick and did not know it.

[@lesimkien724]

The seller pay the real estate agent.

[@JoshAlexanderRealEstate]

Sellers pay their real estate agent and buyers pay for theirs as well unless the buyer is able to negotiate with the seller to cover some or all of the cost associated with using an agent.

[@thankyou4posting]

What a scam. Buyer paid it for both sounds like car dealership. Cavana need to enter this industry and make it flat fee.

[@JoshAlexanderRealEstate]

Buyer's pay for their agent and sellers pay for their agent, just wanted to clarify that since you said buyer pays for both, unless you meant something else. Also as of right now since it's been implemented, I have seen almost all sellers still willing to pay closing cost credits to help the buyer pay for agent fees in full. As for flat fees, there are some flat fee brokers out there already and it might become more popular as an option for buyers who want to hunt for the house themselves and then have an agent help with the paperwork, negotiations and coordinating escrow. Still too early to say what the new normal will end up being.

[@thankyou4posting]

@JoshAlexanderRealEstate yes I understand, but the home probably inflated to so buyer paying it. I went to open house and listing agent said to sign or we can't see the home. Another open house, they said we can see thebhome but don't talk to them lol

[@JoshAlexanderRealEstate]

Got it, the buyer has always paid for the commission of their own agent in a round about way because before this ruling it was basically baked into the financing of the home. Part of the money the buyer paid for the home was used to have the seller pay for the buyers agent. However now that it's decoupled, it makes it more obvious and will give the seller more freedom to negotiated the credits they give to help out a buyer. As for open houses, there is going to be some adjustment periods that happen as everyone gets used to these new rule and different states as well as brokers have different rules for how open houses can work but in general from my knowledge there is no reason for a buyer to be turned away from an open house because they are being forced to sign something. The selling agent is still working on behalf of the seller when doing an open house so there is no representation implied between the buyer and selling agent when a buyer walks into an open house to see it, at least here in California.

[@randy6350]

Realtors now think they are attorneys Hahahaha ¯\_(ツ)_/¯

[@JoshAlexanderRealEstate]

not sure about that, typically in CA at least attorneys do not get involved in the average home sale

[@PianoUniverse]

Only buy FSBO and use a lawyer.

[@JoshAlexanderRealEstate]

when FSBO make up less than 1% of the homes for sale it might take a very long time to find the right home.

[@PianoUniverse]

@@JoshAlexanderRealEstate I've bought and sold 3 homes that way. Just have to be persistent.

[@JoshAlexanderRealEstate]

Yup as long as timelines aren't an issue it's always an option. 👍🏻

[@techworld-kc6lt]

Like

[@JoshAlexanderRealEstate]

thanks!

[@lovly2cu725]

UH no THEY DONT HAVE TO. i JUST GOT SCREWED OVER AS THE SELLER

[@JoshAlexanderRealEstate]

how did you get screwed over?

[@aalhdy]

Good Luck. buyers 😂with seller’s Agents to buy a House from the seller’s agent. I will never work with buyers anymore ,they never appreciate their agent anyway.😂.good ,I’m glad I’m out of the buyer’s agent business.

[@JoshAlexanderRealEstate]

Appreciate your input, I feel the exact opposite though. I think now is the best time to be a buyer's agent as good agents will demonstrate their value to get business and it creates a better experience for the buyer. It's a win for the industry that consistently suffers from a bad rap due to agents that don't have their clients best interests in mind and don't provide value.

[@aalhdy]

@@JoshAlexanderRealEstate agree, I will do my best for buyers and sellers on my listings and be fair for both, this way you have the control to get paid instead showing 10S of homes to buyers and at the end they will go to the seller’s agents on different houses and purchase it direct from them, I had many experiences that buyers go direct because they think they get a better deal even if you signed them buyer’s agreement.you know those agreement could be cancelled and won’t work on a house that you haven’t showed it to them.

[@randy6350]

Not on your life‼

[@JamesVarnas]

NEVER PAY MORE THAN 2% TOTAL FOR ANY AGENTS-THEIR JUST OVERPAID DOOR OPENERS-AND THEY CAN SPLIT THE 2% BETWEEN BUYER AND SELLERS

[@CarlSnellSellingTheCity]

Good Luck

[@JoshAlexanderRealEstate]

If you are comfortable using a discount agent for one of the biggest purchases/sales of your life then those options have always been available, not a great choice based on the statics of how much you lose out on when selling, but always an option.