Bought my house as soon as it listed on a real estate site. Gave the seller their agreed upon price, No time to haggle since properties were flying off the shelves as soon as they listed, Was at a great price anyway, sellers actually needed auctioneers on the properties sooooo many people were showing up to buy. Did the contract over the phone, the seller accepted the contract, gave their tenants a 30 day notice to move. ALL. WITHIN. 5. HOURS. Our buying was the easiest thing ever, only thing that took a while was USDA since they were inundated with applications due to the crazy low rates. We found this house on in the middle of Feb, closed middle April.
May the Lord bless and protect you and your family. You’re the most honest agent I’ve seen so far. I wouldn’t mind being placed on a waiting list just to have you as my agent if I was purchasing in your area. 👏🙌👊
A lot of agents won't even want to work with buyers. I have always been a buyer's agent and I am still gonna be, but hope buyers see the value in the buyer's agent to be willing to go over that contract
You will get more buyers that will consider your home if you are willing to cover the commission. But there are still areas of the country that have low inventory and high demand. If you get several offers there will be some that don't ask for commission for the buyer's agent.
@@ShaheedahHill08 is around the corner after this spring buying season is over. Prices will decline but most won't be able to afford a home with the increase of food, insurance gas etc. Here in Georgia you see more price cuts and assumbles hitting the market. Foreclosures not far behind.
I feel this is all going to be such a mess. I’m glad I’ve already bought because there’s definitely going to have to be a lot more contract review etc. I just see agents trying to take their buyers to court for not fulfilling contracts, or agents getting left out when buyers just walk away and paid them nothing. Such a mess! Who thought of this, it’s a lose, lose for most buyers and agents.
I feel like real estate agents have brought this on themselves, you have so many agents who feel like all they have to do is stick a property on the MLS charge of 5% commission and sit back and let it sell itself. At least now you're going to start to see more competitive contracts, and likely way more FSBO to avoid agents altogether. Some agents will literally promise you the moon just to get you under contract that's is going to change or you'll see a lot less agents.
Have been license a little over 6 years. I always used a BBA with all my clients including explaining everything in bite size terms. also you are absolutely correct I don't hold anyone in long contracts my terms is always 90 days or less. commission is always negotiable.
At first I felt like my real estate agent was pressuring me to move much earlier than my original time frame and now that im ready i cant seem to get a hold of them. my lender is super positive and friendly but i only get responses at around 5 pm a day or so later… i know not a question just needed to vent. great video!
Find another one!! Tell them you will sign an OPEN LISTING only , which means whoever brings the buyer gets the commission. If you are a buyer it doesn't really matter since the seller will most likely pay commission. Watch out for them disappearing on you like this I would Never sign with a broker who is not responsive to you because if they can't even pick up the phone right now, then they aren't going to wake up and start hitting the pavement after you have signed. Watch out for long contracts and tell them you will sign one month and see how it goes. If they refuse than move on; there are Too Many real estate agents out there Commission is Completely Negotiable and it is actually Illegal to price-fix Again, it is against the law to price-fix.
@@gigi9301 Realtor fees for service or commissions have always been negotiable. It has always been explained to clients verbally and in writing. Is that what your are referring to when you day "price fix". What "price" are you talking about?
@@6821hominy I appreciate that you are trying to inform consumers about contracts but that lawsuit which originated in Missouri is a signal of what's to come for the real estate industry. No more taking a percentage of my house to sell it. Ridiculous it should be a fee for service/ hours worked. Not percentages and they do price-fix even though they say they don't. Thank you for listening but I honestly think the entire industry needs an overhaul. Just my opinion and thank you for listening.
Thanks Shaheedah! I wish I would've known this in January. I signed a contract and she sent me a copy via email after typing the expiration date for 1 year after I signed it. Lesson learned. I'll just wait until it expires.
If you're not happy ask to terminate. You get a form to sign and you part ways. However, if you close on anything they've physically shown you and are the procuring cause, you'd still owe that broker.
You can just ask to terminate the contract, the agent will usually allow you to terminate without penalty, but review your contract for any penalties. @bm9275 Thank you for watching
I had an agent spring a contract on me at the time of making an offer. We had a buyer consultation and this info was not disclosed. I was floored. Luckily that offer wasnt accepted and i was able to find another agent.
It was scary for me and my husband because we heard about the buyer had to pay their agent. We had a set amount to put down on escrow and down payment, but my agent calmed me down and said it's going to be okay . The seller did pay 2.5 % which was her pay percentage in her contract. BTW I love your shirt.😊❤
should buyers be aware of agents who do not require an agreement. there is a lot of agents in NJ who want to show you strategic houses, but never bring up an agreement until we go under contract. I t sounded like a win-win... no obligations on either part....lol
The buyer can also ask for seller concessions to cover the buyer’s agent commission. FHA guidelines have changed and the commission will be separate from the 6% allowable concessions. I’m sure that loan programs will make adjustments as well. You did give a lot of great information in your video.
I appreciate this so much Shaheedah. I have been contacted so many people and companies. Two agents presented a whole hour zoom meetings. Saying I have to sign brokers agreement and 3% of the amount of the property sales price. I have had one agent take me to see 3 properties. I have not signed anything yet.
As an agent, if you don't want to sign anything, you can go see houses on your own. I will make sure I have a buyer's consultation and explain everything to you the way Shaeeda did, but I cannot work with anyone who is not willing to sign anything. How do I get paid if you are willing to agree with the contract?
I had a situation when I was trying to sell my land I realized the agent wasn’t on my side when I told him I needed to end my contract he said “ when I’m ready I’ll let you out “ well as a believer I said God he used the wrong word “when I am ready “ I called my prayer partner it didn’t take a day to call me back!! “ Do you know who I am “? Me: Yes!!! “Well I don’t want to sell your land” Me: can you please send an email so I can sign? Glory 🔥🔥🙏🙏💕💕💕
Wow! I literally just signed one today. 🤦🏾♀️ Can you share more examples of services we should expect or ask our agent to provide? Thanks for sharing this information!
It is going to vary for all agents and areas, but I hear most first time buyers complaining about their agent not having availability to show homes, they found the home themselves, agent just showed up for closing. So maybe some more clear expectations on how soon you can see a home you are interested in, will they attend inspections and walk-throughs, how will you communicate...I think those things should be clarified up front. @tamalie25 Thank you for watching
Most of the agents I've seen don't do anything special. I did have to get out of a contract once. I went through their broker. It worked out fortunately.
They should do that to loan officer and underwriters that take all closing cost saying they need to pay rest of the year taxes and Morgage but than make u pay same amount u will pay monthly and stay w that money which is a lot
Here is my video, thanks for watching - th-cam.com/video/9JsX3X6Fx_M/w-d-xo.html And watch my last seller live, several people asked about using their equity - th-cam.com/users/live49Rj0XLC8Xo?feature=share
Seller here. We’re offering 0% in buyer’s agent commission, but in the “notes” it is stated that we’re willing to negotiate. We’ll see how it goes when our house gets listed next week. Great info, advice and video! Thank you
I agree with you let the buyer pay their own agent. First you may have to negotiate a lower price for a buyer. Then on top of that, pay their agent and yours too. Who made that up? Lol I’m cheering for you🎉
@@BlueMoon-pz9pp exactly. Also, Redfin has a clause in their listing agreement that we (the sellers) pay 1% if a buyer is “unrepresented.” Uh, no. That’s not our problem. The buyer can try to negotiate, but we’re not automatically paying lol. Thanks for the cheers and well wishes! Hoping for the best outcome for all parties involved in the transaction 💕
@@toya7645 Be careful Redfin allegedly uses their private investors to purchase house cash but they recommend a sell price lower than market value then when it closes 50% of their inventory are rented and the other half is flipped...Trust me when I say this🤷🏼♀️
You don't, but most buyers will want representation for the agent's expertise in offer/negotiation, it will also be more convenient because instead of needing to contact each agent for each listing you are interested in seeing your agent can arrange the showings for you. @Hunney-cl9jl Thank you for watching
It is better to just extend the contract if you have not found a home then to enter into a long agreement. @CULTURALLYDYSFUNCTIONAL Thank you for watching
Because if for some reason that agent does not hold up to what they told ya or turns out to be a total lazy dud, you're on the hook with them and you absolutely cannot buy anything until you're out of that contract or you could be sued.. You can always just extend the contract. Most reputable agents will let you terminate of your not happy, but there's a lot that won't and will hold you to that contract till the day it expires.
That’s what happened to me when I thought I was signing for me to put an offer in on a house. He automatic set it up where when I sign my initials it just sign everything and it’s my fault because I should have read it. It was a lot of paperwork and I didn’t read it And now I’m stuck with this realtor for six months so I figure with the interest rate so high that I just won’t buy anything until after my six months is up give me opportunity to keep saving. Is that a good idea to do that because I feel like he should have explained to me that I was going to be signingfor him to be my realtor but I did look it up and he’s only my realtor for six months in October 9. My six months will be up thank you and please give me your input.
Review the contract and see if there are any penalties for early termination. If there aren't, you can likely terminate. Just send an email to say that's what you want to do and they should send you termination paperwork to sign. If you have issues contract their broker.
Some states close with title companies and others with closing attorneys, by the time you get to this part of the transaction...all of the negotiation is all ready done. You can usualy choose your own title company or closing attorney in your offer.
Are realtors allowed to charge things like "administration fees" or for things they do for you that aren't listed as addendums as a way to make up somewhat for the fee percentage they might be losing from this new law? Great video btw. Thank you!
I received a notice about the settlement and filed a claim. I’m not sure if I actually qualify though. I was under a buyers agent agreement and ended up having to pay a portion of my realtors commission for a new build since the builder didn’t cover everything.
I am not sure if that would qualify or not but for sure fill it out. But I think buyers will know up front that they can negotiate that fee with the buyers agent, altough that has always been the case, it will be more clear now. @enicole101 Thank you for watching
@@ShaheedahHill I’m glad that there will be clarity going forward. In my case my realtor told me that her employer Keller Williams enforced the rate and I was on the hook to pay what the builder didn’t cover. But the builder told me they only do a flat amount and that most realtors just take the flat rate and don’t require the clients to pay out more. I never shared what the builder said with my realtor but it left me wondering where the truth lied.
I haven't really found an agent yet but a few of them send me properties to view. Would the contact issue come into play once I tell them I'm interested in them taking me on showings OR once I find a property I'm interested in that they showed me and I want to place an offer?
After July most agents will be required to have an agreement in place before they show you homes, many agents have already required this, but now most areas are making it clear that you must have this in place prior to going on showings.
How would you recommend to approach my current agent to get answers to these questions? It is my first time trying to buy a home, I’m totally new to all this. I found a nice agent, and we have already viewed some properties, but we haven’t talk about contracts and stuff yet… thank you!
Just ask, many agents don't have clients sign until they find them a house, but that will change after July 1st. I would just ask, "Do I need to sign anythign for you to represent me?", " How will you get paid?", you don't want any surprises. @laddysay Thank you for watching
Thanks for the video! ? If you as a buyer sign an agreement to pay the buyer's agent 3% and then find a home where the seller is offering the buyer agent 2%, are you still obligated to pay 3% or just 1%? Thanks!
Just the 1%, you will typically be required to pay the difference of what you agreed to pay your agent and what the seller is offering. @Love4puppies Thank you for watching
@@ShaheedahHill Thank you! It is extremely confusing and having you explain in real time all the different possible situations to look out for is extremely helpful! Thank you!!!
If the seller is offering a commission, but you’re representing yourself (don’t have a realtor). Will the seller subtract what would have been the commission from the overall purchase price? Hence, reducing the price.
Its negotiable but you want to pay enough to get a good agent, the commission will range 1-3% typically. Please watch my last live, that Idid for buyers - th-cam.com/users/live49Rj0XLC8Xo?feature=share
LOL…, you are putting out FEAR. I have been a licensed Realtor for 12 years in the State of Virginia. We have had a buyer sign a Exclusive Right to Represent a Buyer Agreement in all those 12 years and more. This is standard in Virginia. Everything is negotiable. Time frames; areas to show; commission, etc. it’s always been this way in Virginia it’s not a big deal. As always “Communication is key” between Realtor and their Client.
Currently only 18 states are required to have a buyer sign an exclusive right to represent a buyers agreement. In July 2024 that will change when every state will be required to have their buyer sign an agreement w/agent/brokerage.
@@rowillo That would have to be Federal legislation, since state laws currently allow for not having to sign the agreement and 32 states don't... Otherwise, why would states that don't, suddenly change and do so...👈🤔... You got a name for this legislation ???... Something like "Liberal democrats usurping state powers, to screw over states rights even more, ACT" ???...👈🤔
I don't do private consults, but if you are moving to Georgia and I serve the area you are thinking of moving I will be in touch. There is a referral link in the description of the video. @mirliennemoran7526 Thanks for watching and sharing @mirliennemoran7526 Thanks for watching! Avoid Costly Mistakes by Buying My First Time Homebuyer Masterclass and Digital Confidently Closed Handbook - bit.ly/47s4pT7
So what's changing? Sellers are no longer going to have to pay the commission or they just won't be listing how much? And is this change proposed for all states?
The main changes will be, all buyers will have to enter into Buyer Brokerage agreements before seeing property and on most MLS systems the commission offered to buyer agents will be removed. I explain in more detail in this video - th-cam.com/users/livepgrhumTD1L0?feature=share
They are still likely going to be able to do this in some states. Dual agency is when both the buyer and seller are your client - this is rare. What typically happens if you go to a listing agent the seller will be their client and the buyer will be their customer. Meaning they will not be able to advise the buyer on anything since their loyalty is to their client. They can fill out a sales contract for them. But they cannot advise them on what they should offer, any terms, inspections, etc. because that would not be in the seller's best interest. I will likely do a video on going directly to the listing agent as a buyer.
The way I look at it is … The seller pays their agent, the buyer pays their own agent. Why should I as a seller have to reduce my cost to get u to buy and then pay your agent and mine? Who made up this greed? Realtors of course because it means they never lose on a sale.
No but if you are first time buyer you will likely want one, otherwise you will likely have no representation as the listing agent only represents the seller.
I had a situation when I was trying to sell my land I realized the agent wasn’t on my side when I told him I needed to end my contract he said “ when I’m ready I’ll let you out “ well as a believer I said God he used the wrong word “when I am ready “ I called my prayer partner it didn’t take a day to call me back!! “ Do you know who I am “? Me: Yes!!! “Well I don’t want to sell your land” Me: can you please send an email so I can sign? Glory 🔥🔥🙏🙏💕💕💕
Bought my house as soon as it listed on a real estate site. Gave the seller their agreed upon price, No time to haggle since properties were flying off the shelves as soon as they listed, Was at a great price anyway, sellers actually needed auctioneers on the properties sooooo many people were showing up to buy. Did the contract over the phone, the seller accepted the contract, gave their tenants a 30 day notice to move. ALL. WITHIN. 5. HOURS. Our buying was the easiest thing ever, only thing that took a while was USDA since they were inundated with applications due to the crazy low rates. We found this house on in the middle of Feb, closed middle April.
May the Lord bless and protect you and your family. You’re the most honest agent I’ve seen so far.
I wouldn’t mind being placed on a waiting list just to have you as my agent if I was purchasing in your area. 👏🙌👊
I appreciate that @valeriefenelus5668 Thank you for watching
A lot of agents won't even want to work with buyers. I have always been a buyer's agent and I am still gonna be, but hope buyers see the value in the buyer's agent to be willing to go over that contract
@monettevalliere Thank you for watching
Sellers not willing to pay buyer commissions home won't sell. Not many if any buyers can afford to pay a agents commission.
The lenders are agreeing to roll the commission into the mortgage
You will get more buyers that will consider your home if you are willing to cover the commission. But there are still areas of the country that have low inventory and high demand. If you get several offers there will be some that don't ask for commission for the buyer's agent.
Rolling the commission into the mortgage will cost ten times as much in the end. @@peacefreedom4930
@@ShaheedahHill08 is around the corner after this spring buying season is over. Prices will decline but most won't be able to afford a home with the increase of food, insurance gas etc. Here in Georgia you see more price cuts and assumbles hitting the market. Foreclosures not far behind.
I feel this is all going to be such a mess. I’m glad I’ve already bought because there’s definitely going to have to be a lot more contract review etc. I just see agents trying to take their buyers to court for not fulfilling contracts, or agents getting left out when buyers just walk away and paid them nothing. Such a mess! Who thought of this, it’s a lose, lose for most buyers and agents.
@DallasTX_1122 Thank you for watching
Lose
I feel like real estate agents have brought this on themselves, you have so many agents who feel like all they have to do is stick a property on the MLS charge of 5% commission and sit back and let it sell itself. At least now you're going to start to see more competitive contracts, and likely way more FSBO to avoid agents altogether. Some agents will literally promise you the moon just to get you under contract that's is going to change or you'll see a lot less agents.
@revilsdr Thanks for watching and sharing
Have been license a little over 6 years. I always used a BBA with all my clients including explaining everything in bite size terms. also you are absolutely correct I don't hold anyone in long contracts my terms is always 90 days or less. commission is always negotiable.
@liesafleming-lnmrealtyllc-9131 Thanks for watching and sharing
At first I felt like my real estate agent was pressuring me to move much earlier than my original time frame and now that im ready i cant seem to get a hold of them. my lender is super positive and friendly but i only get responses at around 5 pm a day or so later… i know not a question just needed to vent. great video!
Hi Are you in Florida? I am a real estate agent willing to assist you
Find another one!! Tell them you will sign an OPEN LISTING only , which means whoever brings the buyer gets the commission. If you are a buyer it doesn't really matter since the seller will most likely pay commission. Watch out for them disappearing on you like this I would Never sign with a broker who is not responsive to you because if they can't even pick up the phone right now, then they aren't going to wake up and start hitting the pavement after you have signed. Watch out for long contracts and tell them you will sign one month and see how it goes. If they refuse than move on; there are Too Many real estate agents out there Commission is Completely Negotiable and it is actually Illegal to price-fix Again, it is against the law to price-fix.
@@KM-kh1nowhere are you located? Theres a lot of agents in the comments that will happily help you. I’m located in Georgia
@@gigi9301 Realtor fees for service or commissions have always been negotiable. It has always been explained to clients verbally and in writing. Is that what your are referring to when you day "price fix". What "price" are you talking about?
@@6821hominy I appreciate that you are trying to inform consumers about contracts but that lawsuit which originated in Missouri is a signal of what's to come for the real estate industry.
No more taking a percentage of my house to sell it. Ridiculous it should be a fee for service/ hours worked. Not percentages and they do price-fix even though they say they don't. Thank you for listening but I honestly think the entire industry needs an overhaul. Just my opinion and thank you for listening.
Thanks Shaheedah! I wish I would've known this in January. I signed a contract and she sent me a copy via email after typing the expiration date for 1 year after I signed it. Lesson learned. I'll just wait until it expires.
If you're not happy ask to terminate. You get a form to sign and you part ways. However, if you close on anything they've physically shown you and are the procuring cause, you'd still owe that broker.
You can just ask to terminate the contract, the agent will usually allow you to terminate without penalty, but review your contract for any penalties. @bm9275 Thank you for watching
A year is greedy and selfish
During the process, if an Agent doesn't feel the buyer(s) aren't a good fit, they can terminate as well!
Yes, they sure can.
I had an agent spring a contract on me at the time of making an offer. We had a buyer consultation and this info was not disclosed. I was floored. Luckily that offer wasnt accepted and i was able to find another agent.
@ChantelSunday Thanks for watching and sharing
It was scary for me and my husband because we heard about the buyer had to pay their agent. We had a set amount to put down on escrow and down payment, but my agent calmed me down and said it's going to be okay . The seller did pay 2.5 % which was her pay percentage in her contract.
BTW I love your shirt.😊❤
So happy it worked out
should buyers be aware of agents who do not require an agreement. there is a lot of agents in NJ who want to show you strategic houses, but never bring up an agreement until we go under contract. I t sounded like a win-win... no obligations on either part....lol
My wife and I LOVE your channel Shaheedah!
Retired teacher looking to relocate from NY to GA. How can we connect with you…
God Bless you!
Email me info@shaheedahhill.com
I can’t wait for another holiday special deal on your beautiful course
Thanks for watching and supporting my channel!
The buyer can also ask for seller concessions to cover the buyer’s agent commission. FHA guidelines have changed and the commission will be separate from the 6% allowable concessions. I’m sure that loan programs will make adjustments as well.
You did give a lot of great information in your video.
@amandagu19811 Thanks for watching and sharing
Thanks for free valuable content. Blessings to you and yours forever!
Thank you
these new laws is going to be a hot mess!
This info is VERY helpful! Thank you!
@StinaBeana007 Thank you for watching
This is great content. Exactly what my wife and I needed. Thanks as usual!
Thank you, and I'm happy it was helpful
GREAT information, as usual - thank you Sha 🙏🏾!!
You are so welcome!
I appreciate this so much Shaheedah. I have been contacted so many people and companies. Two agents presented a whole hour zoom meetings. Saying I have to sign brokers agreement and 3% of the amount of the property sales price. I have had one agent take me to see 3 properties. I have not signed anything yet.
As an agent, if you don't want to sign anything, you can go see houses on your own. I will make sure I have a buyer's consultation and explain everything to you the way Shaeeda did, but I cannot work with anyone who is not willing to sign anything. How do I get paid if you are willing to agree with the contract?
Thank you for sharing this video. I'm taking notes 📝 preparing myself and saving as well. ❤🙏🏼
@michelarosier1918 Thank you for watching
Excellent post!!! Thank u
You're very welcome
Excellent information thanks for all that you do! I'm definitely taking notes.
You are so welcome!
Thank you from Oregon!
My pleasure!
Thank you for clarifying this! It was extremely clear and very helpful!
@Love4puppies Thank you for watching
Hi @Shaheeda thank you for all you do
Thanks Chef!
I had a situation when I was trying to sell my land I realized the agent wasn’t on my side when I told him I needed to end my contract he said “ when I’m ready I’ll let you out “ well as a believer I said God he used the wrong word “when I am ready “ I called my prayer partner it didn’t take a day to call me back!! “ Do you know who I am “?
Me: Yes!!!
“Well I don’t want to sell your land”
Me: can you please send an email so I can sign?
Glory 🔥🔥🙏🙏💕💕💕
@ingridphillip5367 Thanks for watching and sharing
Thank 😊you for all the information you provide…
Thanks for watching
Everything you have shared ❤️ makes perfect sense 👌 thanks for information much needed 👍 ❤
@mothersandy2022 Thank you for watching
Wow! I literally just signed one today. 🤦🏾♀️ Can you share more examples of services we should expect or ask our agent to provide? Thanks for sharing this information!
It is going to vary for all agents and areas, but I hear most first time buyers complaining about their agent not having availability to show homes, they found the home themselves, agent just showed up for closing. So maybe some more clear expectations on how soon you can see a home you are interested in, will they attend inspections and walk-throughs, how will you communicate...I think those things should be clarified up front. @tamalie25 Thank you for watching
Great advice! The way BAs are paid matters especially right now.
@7SideWays Thanks for watching and sharing
Most of the agents I've seen don't do anything special. I did have to get out of a contract once. I went through their broker. It worked out fortunately.
I'm happy it worked out.
I am an agent, what would you like to see an agent do, that you would consider special?
Thank you!
@Grace285 Thank you for watching
They should do that to loan officer and underwriters that take all closing cost saying they need to pay rest of the year taxes and Morgage but than make u pay same amount u will pay monthly and stay w that money which is a lot
@nonenone5008 Thank you for watching
Mrs. Hill, can you please do a video on 1st lien HELOC?
Here is my video, thanks for watching - th-cam.com/video/9JsX3X6Fx_M/w-d-xo.html
And watch my last seller live, several people asked about using their equity - th-cam.com/users/live49Rj0XLC8Xo?feature=share
Seller here. We’re offering 0% in buyer’s agent commission, but in the “notes” it is stated that we’re willing to negotiate. We’ll see how it goes when our house gets listed next week. Great info, advice and video! Thank you
Keep us updated, I think that might be the way to go and not lock yourself into paying a set amount.
I agree with you let the buyer pay their own agent. First you may have to negotiate a lower price for a
buyer. Then on top of that, pay their agent
and yours too. Who made that up? Lol
I’m cheering for you🎉
@@ShaheedahHill I will. We’re selling with Redfin, which is a new experience for us.
@@BlueMoon-pz9pp exactly. Also, Redfin has a clause in their listing agreement that we (the sellers) pay 1% if a buyer is “unrepresented.” Uh, no. That’s not our problem. The buyer can try to negotiate, but we’re not automatically paying lol.
Thanks for the cheers and well wishes! Hoping for the best outcome for all parties involved in the transaction 💕
@@toya7645 Be careful Redfin allegedly uses their private investors to purchase house cash but they recommend a sell price lower than market value then when it closes 50% of their inventory are rented and the other half is flipped...Trust me when I say this🤷🏼♀️
Do I have to use a real estate agent? Can I just get a pre-approval and go through my lender? Thanks for ALL THE INFO!!!❤
You don't, but most buyers will want representation for the agent's expertise in offer/negotiation, it will also be more convenient because instead of needing to contact each agent for each listing you are interested in seeing your agent can arrange the showings for you. @Hunney-cl9jl Thank you for watching
@@ShaheedahHill thanks 😊
THANK YOU!!! ❤
You're welcome!! @mrs.m8732 Thank you for watching
Hi! Thank you for these videos.
Have you done it would you do a video on buying a home without a real estate agent, and without a loan? Thanks!
I am working on a buying without an agent video
When you are referring to without a loan, do you mean paying cash?
Why make it short it may take that long to find a house
It is better to just extend the contract if you have not found a home then to enter into a long agreement. @CULTURALLYDYSFUNCTIONAL Thank you for watching
Because if for some reason that agent does not hold up to what they told ya or turns out to be a total lazy dud, you're on the hook with them and you absolutely cannot buy anything until you're out of that contract or you could be sued.. You can always just extend the contract. Most reputable agents will let you terminate of your not happy, but there's a lot that won't and will hold you to that contract till the day it expires.
That’s what happened to me when I thought I was signing for me to put an offer in on a house. He automatic set it up where when I sign my initials it just sign everything and it’s my fault because I should have read it. It was a lot of paperwork and I didn’t read it And now I’m stuck with this realtor for six months so I figure with the interest rate so high that I just won’t buy anything until after my six months is up give me opportunity to keep saving. Is that a good idea to do that because I feel like he should have explained to me that I was going to be signingfor him to be my realtor but I did look it up and he’s only my realtor for six months in October 9. My six months will be up thank you and please give me your input.
Review the contract and see if there are any penalties for early termination. If there aren't, you can likely terminate. Just send an email to say that's what you want to do and they should send you termination paperwork to sign. If you have issues contract their broker.
Thank you so much I text him in he said my time is up August 9 and thank you so much
Is this the same with a title company? Can you do video about Title companies?
Some states close with title companies and others with closing attorneys, by the time you get to this part of the transaction...all of the negotiation is all ready done. You can usualy choose your own title company or closing attorney in your offer.
Are realtors allowed to charge things like "administration fees" or for things they do for you that aren't listed as addendums as a way to make up somewhat for the fee percentage they might be losing from this new law? Great video btw. Thank you!
Yes but any fees administrative and retainer fees need to be writing before and not added at the end.
@@ShaheedahHill Thank you!
If I'm paying their costs, the seller is going to pay my closing Costs.
Mrs Hill do I have to sign a contract with my realtor for her to work with me?
These changes were actually pushed back to August, so after August, you will have to. But ask your agent directly.
That's overkill for the sprinter van
😂 Those are popular for agents here so it popped into my head.
I received a notice about the settlement and filed a claim. I’m not sure if I actually qualify though. I was under a buyers agent agreement and ended up having to pay a portion of my realtors commission for a new build since the builder didn’t cover everything.
I am not sure if that would qualify or not but for sure fill it out. But I think buyers will know up front that they can negotiate that fee with the buyers agent, altough that has always been the case, it will be more clear now. @enicole101 Thank you for watching
@@ShaheedahHill I’m glad that there will be clarity going forward. In my case my realtor told me that her employer Keller Williams enforced the rate and I was on the hook to pay what the builder didn’t cover. But the builder told me they only do a flat amount and that most realtors just take the flat rate and don’t require the clients to pay out more. I never shared what the builder said with my realtor but it left me wondering where the truth lied.
To terminate, I just waited for the contract to expire…that’s it
But if you want to get out of the contract early, you at least have the option to terminate. @mrsroseyp109 Thank you for watching
I haven't really found an agent yet but a few of them send me properties to view. Would the contact issue come into play once I tell them I'm interested in them taking me on showings OR once I find a property I'm interested in that they showed me and I want to place an offer?
After July most agents will be required to have an agreement in place before they show you homes, many agents have already required this, but now most areas are making it clear that you must have this in place prior to going on showings.
How would you recommend to approach my current agent to get answers to these questions? It is my first time trying to buy a home, I’m totally new to all this. I found a nice agent, and we have already viewed some properties, but we haven’t talk about contracts and stuff yet… thank you!
Just ask, many agents don't have clients sign until they find them a house, but that will change after July 1st. I would just ask, "Do I need to sign anythign for you to represent me?", " How will you get paid?", you don't want any surprises. @laddysay Thank you for watching
@@ShaheedahHill thank you so much! Your videos have been really helpful in this process 🙌🏻❤️
@ShaheedahHill Are you an agent in Georgia?
Yes
Thanks for the video!
? If you as a buyer sign an agreement to pay the buyer's agent 3% and then find a home where the seller is offering the buyer agent 2%, are you still obligated to pay 3% or just 1%?
Thanks!
Just the 1%, you will typically be required to pay the difference of what you agreed to pay your agent and what the seller is offering. @Love4puppies Thank you for watching
@@ShaheedahHill Thank you! It is extremely confusing and having you explain in real time all the different possible situations to look out for is extremely helpful! Thank you!!!
If the seller is offering a commission, but you’re representing yourself (don’t have a realtor). Will the seller subtract what would have been the commission from the overall purchase price? Hence, reducing the price.
You would have to negotiate that in your contract, ask for a higher closing cost contribution.
Thank you for the video! Very informative!
How do you find out if the seller is offering the buyers agent anything?
They can call or text to find out, they can put in on their website, flyers, anything other than the a Realtor backed MLS system.
What percentage should I be paying my realtor if I’m a seller?
Its negotiable but you want to pay enough to get a good agent, the commission will range 1-3% typically. Please watch my last live, that Idid for buyers - th-cam.com/users/live49Rj0XLC8Xo?feature=share
Should i ask my agent what percentage they charge?
Yes
Check out an attorney...👈🤔
They're cheaper, and better...
And they will protect your
legal rights...
LOL…, you are putting out FEAR.
I have been a licensed Realtor for 12 years in the State of Virginia. We have had a buyer sign a Exclusive Right to Represent a Buyer Agreement in all those 12 years and more.
This is standard in Virginia. Everything is negotiable.
Time frames; areas to show; commission, etc. it’s always been this way in Virginia it’s not a big deal.
As always “Communication is key” between Realtor and their Client.
Facts - 59% of buyers closed without brokerage agreements in 2023. Only facts not fear. Thanks for watching
Oooh...👈😳...
Two "middlemen" scraping
a percentage out of the transaction,
for doing very little...
Currently only 18 states are required to have a buyer sign an exclusive right to represent a buyers agreement. In July 2024 that will change when every state will be required to have their buyer sign an agreement w/agent/brokerage.
@@rowillo
That would have to be Federal
legislation, since state laws
currently allow for not having
to sign the agreement and
32 states don't...
Otherwise, why would states
that don't, suddenly change
and do so...👈🤔...
You got a name for this
legislation ???...
Something like
"Liberal democrats usurping
state powers, to screw over
states rights even more, ACT" ???...👈🤔
Good morning, I'm living in Florida. I have a project to move Georgia to the summer to ( rent or buy). I would like to talk to you in private please.
I don't do private consults, but if you are moving to Georgia and I serve the area you are thinking of moving I will be in touch. There is a referral link in the description of the video. @mirliennemoran7526 Thanks for watching and sharing @mirliennemoran7526 Thanks for watching!
Avoid Costly Mistakes by Buying My First Time Homebuyer Masterclass and Digital Confidently Closed Handbook - bit.ly/47s4pT7
Can you have more than one agent as a buyer?
You can, but you should disclose to both agents and you need to be careful that you are not obligated to pay 2 agents.
@@ShaheedahHill u r so informed.
So what's changing? Sellers are no longer going to have to pay the commission or they just won't be listing how much? And is this change proposed for all states?
The main changes will be, all buyers will have to enter into Buyer Brokerage agreements before seeing property and on most MLS systems the commission offered to buyer agents will be removed. I explain in more detail in this video - th-cam.com/users/livepgrhumTD1L0?feature=share
@@ShaheedahHill Ok. Thanks. So basically it's about to get even harder for first time homebuyers now.😩
Hi, I wanted to ask you what if a seller just wants to do a duel agent. Does this new law affect those deals? 😊
They are still likely going to be able to do this in some states. Dual agency is when both the buyer and seller are your client - this is rare. What typically happens if you go to a listing agent the seller will be their client and the buyer will be their customer. Meaning they will not be able to advise the buyer on anything since their loyalty is to their client. They can fill out a sales contract for them. But they cannot advise them on what they should offer, any terms, inspections, etc. because that would not be in the seller's best interest. I will likely do a video on going directly to the listing agent as a buyer.
@ShaheedahHill thank you so much for information. Have a great weekend 😀 😊
The way I look at it is … The seller pays their agent, the buyer pays their own agent. Why should I as a seller have to reduce my cost to get u to buy and then pay your agent and mine? Who made up this greed? Realtors of course because it means they never lose on a sale.
@BlueMoon-pz9pp Thanks for watching and sharing
I wish that you can rep me
An attorney can do the same
thing on an hourly fee basis,
and protect your legal rights
as a buyer, or seller, 👈🤔
and do it less costly...
Do I have to have a real estate agent?
No but if you are first time buyer you will likely want one, otherwise you will likely have no representation as the listing agent only represents the seller.
@@ShaheedahHill Thank you ❤️
Very confusing
Thanks for watching. Make sure you have the answers to the 3 things in the video and you should be fine.
This is a lot 😩
@patrice2335 Thank you for watching
Buying a house is such a headache 🫣🫣🫣. I am writing down notes.
I know, I don't think I'm doing it.
@@Chanel15477 it is overwhelming but i am not giving up and you should keep trying to.
It’s not that bad. Don’t get discouraged, it just sounds like a lot.
I had a situation when I was trying to sell my land I realized the agent wasn’t on my side when I told him I needed to end my contract he said “ when I’m ready I’ll let you out “ well as a believer I said God he used the wrong word “when I am ready “ I called my prayer partner it didn’t take a day to call me back!! “ Do you know who I am “?
Me: Yes!!!
“Well I don’t want to sell your land”
Me: can you please send an email so I can sign?
Glory 🔥🔥🙏🙏💕💕💕
@ingridphillip5367 Thank you for watching