🚨 #DOJ #CFPB I hope you are watching what’s happening with buyers agreements. There is no benefit to buyers and the agreements favor Realtors. There is no buyer education on this and there are no buyer protections. It’s not even August and I am already seeing abuse and buyers feeling trapped. We don’t want Americans giving up their dream of homeownership because of a buyers agreement. Feel free to call me 707-478-0637
Perfect timing, this is a Video meant for me. I am expected to sign with no explanation, offering me 0.25% on a 2.5% buyer charge before my next showing. BTW, I meet this realtor b/c she happened to be showing me a listing. She then introduced herself as my lead realtor. I didn’t even see the house b/c she couldn’t figure out the combination.
I wish I knew you before this video I had two South Carolina agents tell me exactly your words it was boilerplate and that I should sign it and email it back during first phone calll. I live in ny. Never met them.
Finally an unbiased explanation of whats going on. Had to watch several videos before I found this one. Most are posted by realtors and are very biased. Thanks for a clear explanation.
Also lookout for Realtors who ask you to sign 2 of these agreements for different amounts, incase the seller is offering a high amount of commission. Those agents are 100% only looking out for themselves vs your best interest.
Well done Jennifer ! We have sold 4 houses over the years and the commissions we have paid make me sick. 3 of the 4 basically sold themselves and realtors would march people through using our property as a “comp”. 6% commissions was always the standard and was not negotiable (most would not take the listing for any less). Very informative video….mahalo nui loa
Thanks for the video! I was never given the option to negotiate the 6% commission. Even worse, my listing agent charged me 6% to sell to an I-buyer that charged me another 5% on a previous house and never explained that I would be paying 11% commission to sell to an I-buyer and that I did not need a listing agent to sell to an I-buyer. Unfortunately, I was not allowed to speak directly to the I-buyer as I hired a listing agent and he was not honest with me. It was the first home I sold and regret not educating myself first and trusting the furst realtor I reached out to.
I truly truly truly sounds like a nightmare. I’m sorry you went through that. Moving forward I am sure you’ll have your eyes wide open, anytime you sell or buy a house. I hope that everybody starts to really pay attention as agents and I buyers can cause a lot of financial harm if you are not looking
@@JenniferBeeston Thank you! Yes, I definitely ask a lot more questions and videos like yours are so helpful for consumers to know what to look out for. Thank you always:)
Love the new background 😍 I read an article recently saying that the VA will allow for the buyers to pay part of their agents commissions. I know it can still be negotiable to have the sellers pay. I feel like this will add another hurdle for VA buyers 😢
Hi Linda, yes VA announced that on August 10th veterans will have the ability to pay their agents commission should they choose to. I think the key whether you’re a veteran or not is making sure you understand the buyers agreement before you sign it. I have not seen all the buyers agreements in all the states yet, but I was chatting with an agent just last night and she was saying none of her buyers can afford to pay her and that negotiating with the seller for her commission is the future of her business. I think the markets we will see sellers not pay buyers are hyper competitive markets. I am not a fan of buyers agreements and will be covering them a lot in the upcoming weeks.
Hi Jennifer! I literally binged watched most of your videos today OMG 😆 I must say you are incredibly informative. For me the thing is I’d love to buy a home next year January because the rent in Seattle is obnoxious however I only started working 5 months ago will that hinder my application? I have 730 credit score and no debt.
Hi Jennifer, just found your podcast recently. Great info. We are in the home buying mode now and will be using this information on the buyer's agreement. I was not aware of the details on this so thanks.
Hey Jennifer! I was looking into the “VA one time close construction loan”. I would love for you to do a video about it if you could? I’m very interested in using it but have tons of questions I’m sure you’d cover. Thanks!
I am a w2 employee who is paid by guaranteed rate. Lenders are paid based on the rates and fees they charge. Lenders do not have exclusive relationships with buyers so that buyers can shop rates and fees as well as expertise.
Hello, can you buy a package deal with VA loan? For example, a Duplex that comes packaged with 2 single family homes? PS I used you as a lender on my 1st duplex and plan to buy again....
So I have a realtor I met with recently. We toured 3 homes (that i sent i was interested in) one I really like so the realtor sent the buyer agreement over in docusign along with the contract without explaining. So reading it, it saids until October with a 60 day protection clause so basically the rest of the year. This makes me nervous for some reason so i expressed that seems to long, and that I also dont see anything that states how I cancel in addition i dont want to be on the hook for commission at all. I really like the house should i sign to put in the offer?
The fact that the real estate agent did not go through the buyers agreement with you is a red flag especially with that level of commitment. I would ask them to make the buyers agreement specific to that home that you want to write the offer on. They can do that. Also make sure you know if the sellers pay the commission and if so, how much so you don’t end up on the hook if the agent doesn’t think the sellers paid enough. If the agent pushes back on this still. I would find another agent. Also make sure if you write an offer with them. They go through the purchase contract with you and explain the contingencies. Don’t just sign anything ever.
@JenniferBeeston thanks for the information! Also I appreciate your channel I came across it as a suggestion. I'm so tired of these fear based agents making videos with no substance that play to peoples fear instead of giving valuable information please keep providing good info we all need it
You do not have to use an agent to buy a house. Some people choose lawyers or to represent themselves. A good Realtor is worth their weight in gold but a bad one can do more harm then good.
Would it be too much to send my buyer’s agreement over to someone on your team to help me lookout for important info? I’ve read it, some info I don’t fully understand but I signed because I feel like I can trust my agent. I haven’t found a home yet though.
Hi Samantha There is not a lot we could do or recommend as you have already signed it. It sounds like you like your agent so I would ask her to walk you through the parts you do not understand.
watch all the vids in the VA playlist, those will help you assess if you're in a place where you're ready. when you are scheduled a call. this team is amazing
Everything I ever hear coming from the real estate agency is always extremely scummy and predatory. Like it's the absolute worst version of the sleazy car salesman times 10. Honestly, it just makes me terrified of ever buying a home.
It’s really unfortunate because there are really good real estate agents that look out for their clients and do a great job, but unfortunately there’s the other side that doesn’t and the industry gets a bad rap because of them. There’s really a small amount of regulation when it comes to real estate agents, and it harms the entire profession.
🚨 #DOJ #CFPB I hope you are watching what’s happening with buyers agreements. There is no benefit to buyers and the agreements favor Realtors. There is no buyer education on this and there are no buyer protections. It’s not even August and I am already seeing abuse and buyers feeling trapped. We don’t want Americans giving up their dream of homeownership because of a buyers agreement. Feel free to call me 707-478-0637
Perfect timing, this is a Video meant for me. I am expected to sign with no explanation, offering me 0.25% on a 2.5% buyer charge before my next showing. BTW, I meet this realtor b/c she happened to be showing me a listing. She then introduced herself as my lead realtor. I didn’t even see the house b/c she couldn’t figure out the combination.
Glad it was helpful!
I wish I knew you before this video I had two South Carolina agents tell me exactly your words it was boilerplate and that I should sign it and email it back during first phone calll. I live in ny. Never met them.
Finally an unbiased explanation of whats going on. Had to watch several videos before I found this one. Most are posted by realtors and are very biased. Thanks for a clear explanation.
Thank you:)
4:02 Term and Commission Negotiations
Also lookout for Realtors who ask you to sign 2 of these agreements for different amounts, incase the seller is offering a high amount of commission. Those agents are 100% only looking out for themselves vs your best interest.
Hi do you mind explaining this more, like with the home contract or buyer agreement?
Wow that is terrible that is happening. I will be doing a lot more about buyers agreement as I don’t love the direction this is going
Well done Jennifer !
We have sold 4 houses over the years and the commissions we have paid make me sick. 3 of the 4 basically sold themselves and realtors would march people through using our property as a “comp”. 6% commissions was always the standard and was not negotiable (most would not take the listing for any less).
Very informative video….mahalo nui loa
0:10 Buyers Agreement
3:39 Common Place
Thanks for the video! I was never given the option to negotiate the 6% commission. Even worse, my listing agent charged me 6% to sell to an I-buyer that charged me another 5% on a previous house and never explained that I would be paying 11% commission to sell to an I-buyer and that I did not need a listing agent to sell to an I-buyer. Unfortunately, I was not allowed to speak directly to the I-buyer as I hired a listing agent and he was not honest with me.
It was the first home I sold and regret not educating myself first and trusting the furst realtor I reached out to.
I truly truly truly sounds like a nightmare. I’m sorry you went through that. Moving forward I am sure you’ll have your eyes wide open, anytime you sell or buy a house. I hope that everybody starts to really pay attention as agents and I buyers can cause a lot of financial harm if you are not looking
@@JenniferBeeston Thank you! Yes, I definitely ask a lot more questions and videos like yours are so helpful for consumers to know what to look out for. Thank you always:)
Love the new background 😍 I read an article recently saying that the VA will allow for the buyers to pay part of their agents commissions. I know it can still be negotiable to have the sellers pay. I feel like this will add another hurdle for VA buyers 😢
Hi Linda, yes VA announced that on August 10th veterans will have the ability to pay their agents commission should they choose to. I think the key whether you’re a veteran or not is making sure you understand the buyers agreement before you sign it. I have not seen all the buyers agreements in all the states yet, but I was chatting with an agent just last night and she was saying none of her buyers can afford to pay her and that negotiating with the seller for her commission is the future of her business.
I think the markets we will see sellers not pay buyers are hyper competitive markets. I am not a fan of buyers agreements and will be covering them a lot in the upcoming weeks.
Hi Jennifer! I literally binged watched most of your videos today OMG 😆 I must say you are incredibly informative. For me the thing is I’d love to buy a home next year January because the rent in Seattle is obnoxious however I only started working 5 months ago will that hinder my application? I have 730 credit score and no debt.
Hi Jennifer, just found your podcast recently. Great info. We are in the home buying mode now and will be using this information on the buyer's agreement. I was not aware of the details on this so thanks.
Glad it was helpful!
10:08 DOJ
As Always. THANK YOU ❤
:)
Hey Jennifer! I was looking into the “VA one time close construction loan”. I would love for you to do a video about it if you could? I’m very interested in using it but have tons of questions I’m sure you’d cover. Thanks!
Hey Travis! I don’t do one time close loans so cannot advise properly on them unfortunatley
@@JenniferBeestonokay no worries, thank you for the reply!
How do you get paid?
I am a w2 employee who is paid by guaranteed rate. Lenders are paid based on the rates and fees they charge. Lenders do not have exclusive relationships with buyers so that buyers can shop rates and fees as well as expertise.
@@JenniferBeeston I guess a better question would be how do clients pay you, or is it included in home price and based on a percentage?
Our lender fee is $1640 which gets paid at closing but we waive for Veterans
Hello, can you buy a package deal with VA loan? For example, a Duplex that comes packaged with 2 single family homes? PS I used you as a lender on my 1st duplex and plan to buy again....
Hope you’re doing well :-) we’ve got to talk about this in more detail because it depends on if you’re talking about separate parcels and APN numbers.
So I have a realtor I met with recently. We toured 3 homes (that i sent i was interested in) one I really like so the realtor sent the buyer agreement over in docusign along with the contract without explaining. So reading it, it saids until October with a 60 day protection clause so basically the rest of the year. This makes me nervous for some reason so i expressed that seems to long, and that I also dont see anything that states how I cancel in addition i dont want to be on the hook for commission at all. I really like the house should i sign to put in the offer?
The fact that the real estate agent did not go through the buyers agreement with you is a red flag especially with that level of commitment. I would ask them to make the buyers agreement specific to that home that you want to write the offer on. They can do that. Also make sure you know if the sellers pay the commission and if so, how much so you don’t end up on the hook if the agent doesn’t think the sellers paid enough. If the agent pushes back on this still. I would find another agent. Also make sure if you write an offer with them. They go through the purchase contract with you and explain the contingencies. Don’t just sign anything ever.
@JenniferBeeston thanks for the information! Also I appreciate your channel I came across it as a suggestion. I'm so tired of these fear based agents making videos with no substance that play to peoples fear instead of giving valuable information please keep providing good info we all need it
Thank you:) I will
Do you need an agent to buy a house?
You do not have to use an agent to buy a house. Some people choose lawyers or to represent themselves. A good Realtor is worth their weight in gold but a bad one can do more harm then good.
Yeah, I have definitely "gone out to pizza with some creeps" as far as dealing with real estate agents goes. Lol
Would it be too much to send my buyer’s agreement over to someone on your team to help me lookout for important info? I’ve read it, some info I don’t fully understand but I signed because I feel like I can trust my agent. I haven’t found a home yet though.
Hi Samantha
There is not a lot we could do or recommend as you have already signed it. It sounds like you like your agent so I would ask her to walk you through the parts you do not understand.
Hello Jen would i be able to contact you for some advice of what os the best route i can go using a VA loan
watch all the vids in the VA playlist,
those will help you assess if you're in a place where you're ready. when you are scheduled a call. this team is amazing
Yes I would be happy to help 707-478-0637
awesome i will send you a message tomorrow
Volume too low
Correct
Everything I ever hear coming from the real estate agency is always extremely scummy and predatory. Like it's the absolute worst version of the sleazy car salesman times 10. Honestly, it just makes me terrified of ever buying a home.
It’s really unfortunate because there are really good real estate agents that look out for their clients and do a great job, but unfortunately there’s the other side that doesn’t and the industry gets a bad rap because of them. There’s really a small amount of regulation when it comes to real estate agents, and it harms the entire profession.
👍🏻👊🏻
Don’t get a real estate agent end of story