Thanks for the video, a lot of great information, very informative, yeah it would be interesting to see a video on signing up with a buyer's agent, I'm a little funny about signing a contract before I even look at a property, does that contract obligate you to pay that particular realtor, what if you don't like them after meeting them and decide to go with a different realtor, houses have went up so much in the last few years I'm wondering if you are seeing the realtor percentages go down any, 24,000 seems like a steep price to pay to sell a $400,000 house ,
I'm glad you enjoyed it! Yes, the contract requires you to pay that particular realtor. Before touring homes, it's not a bad idea to meet with a realtor and chat over coffee or lunch to get to know each other and make sure you're a good fit. You'll know pretty quickly how knowledgeable they are on the market, their communication style, etc. If that goes well, you'd have to sign a contract before touring properties. Truthfully, it's not all that different from the way the industry worked prior to August. If you're not signed on with a realtor you're a customer, not a client, meaning you don't get the same level of service, and you're more at risk. Regarding the 6% you stated, this is a common misconception. It's not a steep price if you understand the value that (great) realtors provide. First off, that % is split between buying and selling brokerages. That % is then broken down further to pay for franchise fees, brokerage split, taxes, etc. Not to mention the thousands in monthly, quarterly, and annual fees that are required by the industry. Keep in mind, realtors are commission only and work much more than 40 hours a week. We work nights and weekends, and are on-call for our clients. I learned the hard way to set boundaries after falling into deep burnout. It's not uncommon to work 60+ hour work weeks (what I've been doing for the past few months). Realtors are an invaluable resource and help protect you throughout complex real estate transactions. I have lost count of the number of times I've saved a deal from falling apart and afterwards my clients have thanked my and said they couldn't have done it without my expertise, but I digress. I have a pdf that list out 100 reasons to work with a realtor - happy to share it with you if you'd like.
Hi Cara! Y’know, I think you might want to do that video about the brokerage compensation changes. My guess is that for many people the new rules will create a certain level of drag on the buying process. I mean, some people just won’t know what to make of it and it will create hesitancy. What do your colleagues think? Will this help or hurt the process? Michael Lumish
Good point! It certainly has been a learning curve for some buyers. Some realtors believe this will all be short lived and we may go back to business as usual after a couple years. It will be interesting to see how this plays out. Personally, the only benefit I can see with these changes is that that some home buyers and sellers will learn the value of a great realtor.
![October 2024 Housing Market Update [Asheville, NC Real Estate]](http://i.ytimg.com/vi/RIn3qRrMB6k/mqdefault.jpg)
![October 2024 Housing Market Update [Asheville, NC Real Estate]](/img/tr.png)
![September 2024 Housing Market Update [Asheville, NC Real Estate]](http://i.ytimg.com/vi/MnstA4TrKoU/mqdefault.jpg)
Great info Cara!
Glad it was helpful!
Thanks for the video, a lot of great information, very informative, yeah it would be interesting to see a video on signing up with a buyer's agent, I'm a little funny about signing a contract before I even look at a property, does that contract obligate you to pay that particular realtor, what if you don't like them after meeting them and decide to go with a different realtor, houses have went up so much in the last few years I'm wondering if you are seeing the realtor percentages go down any, 24,000 seems like a steep price to pay to sell a $400,000 house ,
I'm glad you enjoyed it! Yes, the contract requires you to pay that particular realtor. Before touring homes, it's not a bad idea to meet with a realtor and chat over coffee or lunch to get to know each other and make sure you're a good fit. You'll know pretty quickly how knowledgeable they are on the market, their communication style, etc. If that goes well, you'd have to sign a contract before touring properties. Truthfully, it's not all that different from the way the industry worked prior to August. If you're not signed on with a realtor you're a customer, not a client, meaning you don't get the same level of service, and you're more at risk.
Regarding the 6% you stated, this is a common misconception. It's not a steep price if you understand the value that (great) realtors provide. First off, that % is split between buying and selling brokerages. That % is then broken down further to pay for franchise fees, brokerage split, taxes, etc. Not to mention the thousands in monthly, quarterly, and annual fees that are required by the industry. Keep in mind, realtors are commission only and work much more than 40 hours a week. We work nights and weekends, and are on-call for our clients. I learned the hard way to set boundaries after falling into deep burnout. It's not uncommon to work 60+ hour work weeks (what I've been doing for the past few months). Realtors are an invaluable resource and help protect you throughout complex real estate transactions. I have lost count of the number of times I've saved a deal from falling apart and afterwards my clients have thanked my and said they couldn't have done it without my expertise, but I digress. I have a pdf that list out 100 reasons to work with a realtor - happy to share it with you if you'd like.
Hi Cara, love the necklace!
Thank you! I got it the Celtic Festival here in Asheville.
Wonder what is happening now
With fall around the corner will you be doing your cooking videos 👍🏽
I was just thinking I should do one of those!
Hi Cara!
Y’know, I think you might want to do that video about the brokerage compensation changes.
My guess is that for many people the new rules will create a certain level of drag on the buying process.
I mean, some people just won’t know what to make of it and it will create hesitancy.
What do your colleagues think?
Will this help or hurt the process?
Michael Lumish
Good point! It certainly has been a learning curve for some buyers. Some realtors believe this will all be short lived and we may go back to business as usual after a couple years. It will be interesting to see how this plays out. Personally, the only benefit I can see with these changes is that that some home buyers and sellers will learn the value of a great realtor.