Buying A Home in Colorado Is About to Change FOREVER.
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- เผยแพร่เมื่อ 18 พ.ค. 2024
- Real estate commission structures are evolving, potentially leading to significant savings for some, while others might face higher costs. In this video, I discuss what home buyers need to understand about these changes and explore their options for navigating this new commission process.
Home buying will never be the same once this unfolds. If you're considering buying a house soon, watch this video! I'll share the top things you need to know about buying a house and how these changes will affect the way we buy and sell real estate going forward.
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All content provided on TH-cam belongs to Iris Burton and cannot be used without prior written permission. Colorado Real Estate License: 100089541
⚠️ Videos are for entertainment and general educational purposes only. No information whether implied or otherwise offers warranties or guarantees of any kind regarding completeness or accuracy, or provides the assumption of anything being a good option or fit for you personally. Buying real estate is a risk as with any other investment. Each person is different so unless I'm your real estate agent, do not consider this advice in your personal real estate decisions and dealings. Do your own diligence on the information provided. I do not claim expertise in any field outside of real estate. I am a real estate agent with LPT Realty in Colorado. Each person's situation is unique and SUBJECT TO terms and qualifications. Please privately consult a professional in the area of expertise in question including myself. I want you to be successful! ♥
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Update: Temporary VA fix www.housingwire.com/articles/va-to-roll-out-temporary-fix-to-buyer-agent-commission-problem/
How do you guys feel about this? Would you pay a buyer agent or do it on your own?
Hi Iris I would pay it I have a wonderful super smart agent whom I know will guide me every step of the way 😊
@@margaritam.8308 you are so sweet I appreciate you! 😊
We will never sign an agreement and pay a buyer's agent any fees or commission. This new rule will simply turn most buyers away from buyer's agents and push them to go different routes to buy (I believe FSBO sites will grow as buyers and sellers get fed up with this greedy industry which has managed to push most buyers out of the ability to buy a house). What first time or middle class buyer can tack on additional commission and fees to their agent when they can barely afford the cost of a house and a down payment? This new law is not only there to stop homeownership and cater to the wealthy, but is purposed to get rid of most agents and allow for the moguls at the top of the real estate industry to price-fix and monopolize the market. Why do they need a middleman (agent) when they can pad their pockets without them? We are experienced buyers and sellers, and over the last 20 years we have dealt with many dishonest agents who have lied, tried to scam us, bribe our inspectors, etc, and finding a good agent was always like pulling teeth. Yes, there are some good agents, as we had a few, but the industry itself is corrupt and there is no legal oversight to protect buyers or sellers from scams. We will go directly to the listing agent or go FSBO. We will not pay an agent.
@@margaritam.8308 I also would pay, I just don't want to be stuck legally (meaning, no way out of a signed contract) if my agent isn't doing that great of a job. Or some other reason like compatibility, knowledge, experience and negotiating skills -- serious reasons, not something trivial that I and my agent can work together to resolve. Personally, I certainly would NOT want to go through the buying process alone/unrepresented. I think SELLERS would have an easier time going it alone...but not Buyers as it's a more complicated process, especially for inexperienced and/or first-time Buyers.
-- BR
The scariest part is a seller with a listing agent and no buyer representation. Homeownership for the average American is in trouble. And sellers keep selling to corporate investors taking away more opportunities. It’s sad. A lot of what you say has merit.
Being in the mortgage industry, you spoke with honesty and integrity. You should be proud of yourself!
Thanks Josh! I appreciate that!
Well before buying or doing anything will have to contact the sellers to see if they are willing to help with commission for realtors and how much will it cost just for agents to show u houses if you dont get a house in the long run cant pay 6% for either
It’s all part of the negotiation process 😊 It’s also more than just showing homes. It’s contract deadlines and legal consequences. That’s where an agent’s true professionalism lies.
@@LivingtheSpringsisn’t that escrow?
the agent just has to fill up the vehicle and meet you at the property
@@user-im9dz2ud7d sounds like a terrible experience! I help match my clients with the perfect home and neighborhood. Many are coming from out of state and need my help navigating the area since they’re not from here. Then I help them get the house they want within their budgets. I find the best deals in town and I know how to negotiate so buyers never feel like they’re leaving money on the table. I also provide them with resources to help them set up utilities, trash, and everything else you need to make your move smoother. That’s just a few things I do.
But, technically, the buyer(s) are paying the buyer's agent commission since most people list homes with the commission % in mind.Let's no act like agents aren't inflating the prices of home for this very reason. I imagined that buyers would be highly negotiating listing prices.
Valid point! But I was showing homes last weekend and a listing I felt was overpriced was NOT paying a buyers agent, but still went under contract very quickly, within a week.
@@LivingtheSprings Regardless of the changes, the housing market is not buyer friendly. Nor, will these changes help since the commision % is based on the selling price. I am sure if there was a flat fee (tier by house price range), for both seller and buyer agents, that in itself will shake things up. It'll also help with improving the housing market altogether.
Did those people who go under contract had a buyer's agent and paid out of pocket for that representation? What was the house cost? There are nuances and variables to this conversation.
Hopefully, buyers are able to obtain great representation since there's been a shift in realtors favoring being sellers agent as their role is to get as as close to or above listing price. Whereas, the buyer's agent is pretty much negotiating for a lower payout as most buyers hope to save some money.
Maybe, this is what the industry needs. A blessing in disguise to stabilize the housing market in the U.S. ::shrugs:::
Great insight thank you!
my agent ain’t do crap and got 2.5% 😂
there has to be a way where escrow and underwriters can get it done for 1%
not to mention trying to get a realtor to look at a house was somewhat gard like this is your job . . then they get mad if you dont like the house they suggest
Oh no! I'm sorry you had a bad experience. Some agents have different tier pricing. They also have to pay out a lot of fees. But I hear ya!
I like your style , i kearned a bit.
Thanks 🙏🏼