‘Homeownership just got hit again’: Real estate expert warns of challenges ahead
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- เผยแพร่เมื่อ 4 ต.ค. 2024
- 'Mansion Global' host and Fox News real estate contributor Katrina Campins weighs in on February housing data and the NAR proposing new commission rules.
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Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
My CFA ’Melissa Terri Swayne’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Appreciate this recommendation, hopefully I can get some insight to where the market is headed and strategies to beat the downtrend with when I hear back from Melissa.
I’m a new dad, I moved to the Bay Area a few years ago and I’m thinking of purchasing a single family home, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.
Though ultimately up to you, Forbes reports that housing activity will essentially stagnate for the majority of the year, so perhaps wait a bit.
You could, for example, put down a down payment on a house and diversify as much as you can by buying equities in pharma and artificial intelligence, such as Pfizer and JnJ.
I would advise you to choose a managed portfolio because some AI businesses are allegedly overvalued and could trigger a market correction. However, even managed portfolios don't always perform well, so it's important to seek advice from a qualified fiduciary; my spouse and I find that this works best.
this is all new to me, where do I find a fiduciary, can you recommend any?
Her name is Vivian Gioia Carol can't divulge much. Most likely, the internet should have her basic info, you can research if you like
In the middle of 2024, I think we'll start to see more market diversification. I'm hoping to invest about $300,000 from a recent home sale into the financial markets, but I'm still not sure how rates will effect the market just yet, which worries me a lot. Like how long will the bull rally last before the reset?.
You see in the stock market, bigger risk begets bigger results that can work in the bulls' favor. I think investors who are wary of the changing market trends should seek out bear/bull mrkt directions from certified strategists.
You're right mate! I’ve been using a fin-market expert for two years now and I own a 7figure diversified portfolio from investing in stocks. Currently, my portfolio is worth over $1m.
thats really massive!How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Melissa Maureen Ward is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for this amazing tip. I just looked the name up, wrote her explaining my financial market goals and scheduled a call.
I recommend diversifying your investments by considering stocks alongside real estate. During a recession, there are potential buying opportunities in the stock market if approached cautiously. Additionally, market volatility can offer short-term buying and selling opportunities. However, please note that this is not financial advice. It's important to be proactive in investing as cash may not be the most advantageous option during these times.
Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
she's mostly on Telegrams, using the user name
Eileenruthsparks .. that's it
Abolish property tax
abolish school tax also.
If they did that corporations would buy up all the land in the country and just sit on it 🪑
You NEVER own your house or property.
@@musicman7297not as long as you pay taxes.
Property tax is necessary. Otherwise no one would ever sell land and the only way for new generations to acquire land would be through inheritance.
6% made sense when houses were selling for $25 to $75K. Charging 6% or 5% on a 1.25 million house is crazy.
Exactly. Most of the listing agents don't even find out if there was any remodeling in the last few years or any roof change done for the house. They are just there to show the property.
@@A.J Exactly, usually it is the home inspector that looks into renos etc done on the house, not the realtor.
The interest rate should have nothing to do with the house price. Want to avoid the interest rate? Pay cash.
I sold a $1.395 million property for a client and she was glad to pay me a 5% commission. She had tried to sell with different agents for the past few years and failed, couldn’t get her price. She’s not crazy she’s smart.
This is BS about housing. The general public can barely getting buy and rent keeps going up.
you know for sure these people buying aren't regular folks.... they corporate companies, wealthy individuals cuz i sure as hell not paying 4k a month on a house in this economic environment
Yet, you'll support a billionaire for President who made his money in real-estate? And someone who has never paid a mortgage. You have to explain that one.
@@fishingfool2644as opposed to a 5-decade politician who doesn’t even know where he is most of the time and a history of telling only lies?!? Also, has handlers that run reporters out if the room either a chorus of “thank you, thank you”. I’ll take the billionaire thank you very much.
@@fishingfool2644you’re ignorance is showing that’s why you make a perfect serf!
@tristenklein5940 Why would you think a real estate seller and buyer would be better prepared to fix this? He benefited from the system, why would he want to change it?
Just because people buy a house doesn't mean they can afford to keep the house with Insurance and taxes going up.
and energy prices
Spend 60% of our income on a home. Great life.
I won't be spending 60% of my income. I have Good credit, below excellent, and a really decent down payment. My mortgage will be like 2007 rent prices.
I know right? Got to love that democrat socialism don't you??
Or pay for food after mortgage payment
property tax is rent
I don’t think there will be a cut in the Fed rate this year. Inflation is climbing.
I agree. With the mass immigration program, it increase scarcity of everything. I think they do it on purporse and I would not be surprised to see the interest rates flat for very long or even going in the two digits, at least for the borrowers.
there should be many "cuts" at the "federal reserve". None of them are worth keeping.
Powell said he has no plans to cut rates this year
All apart of the plan.
Rate cuts come after the election to ensure the new president has to deal with this stagflation.
Rates should’ve been at 8% minimum in January of 2022.
@@michaelsix9684I just watched one show talk about the fed talking about cutting rates 3 times this year at some point.
Who else dislikes the Kiddie Sniffer, his administration, and everybody who voted for that?
Kiddie showers too .
What is he have to do with this
But .... But ..... it's TRUMPS fault . 😂😂😂😂😂😂😂
@@musicman7297
It is amazing how many ppl living in my America are ignorant enough to believe that.
@@Uberqueenbeeeverything ! Things were great with the REAL POTUS TRUMP !
"Drill, baby, drill!" ~Trump
Drill baby drill!
And
Build baby build!
US oil production is at an all time high. Which literally means with Biden more drilling was done than Trump did.
@user-cp2jh4yr4q I do not support Joe Biden whatsoever, but do you see the authority that Trump gives us to hate and despise people I want people to come over here but we need to know who they are but I can see that you’re a huge Trump fan and you don’t even realize that Trump is the antichrist
@Juicemanee where do I sign up?
Trump 2024 ❤🇺🇸🙌🙌🙌
When he was in office our economy was booming!!!
In California 9 years ago when we bought our first house every available house was on sale I called the real state agent always told us there are five or six bet on the house, I'm sorry to say that but some agents do this just to increase the house price and their profit, me and my wife we were so frustrated, we found the house that we like for sale by the owner, The seller was very helpful he helped me through the process the whole thing took about 3 weeks thank God for that both of us save money, and the process was very easy, this practice of multiple bet on the house must stop
The other 4 bets are corporations or investors. That is what must stop.
I guarantee the seller left money on that table selling it themselves
@@AnthonyRenowitzky
Absolutely not I don't know where you get your information but he saved himself almost 35,000 and in the process he saved me money as well, if Realtors and Brokers want to play that game of betting best thing for the buyers to go direct to The seller
@@AnthonyRenowitzky
You got to be a realtor or broker, absolutely not as a matter of fact both of us save a lot of money
Regardless of the other offers, still tell them to put in your offer. They are bound by duty to do so. Don’t let them pressure you into an offer you are not comfortable with. Because in the end, you have to pay that mortgage monthly and not them.
Not a professional, but don’t homes always sell better in Spring due to people looking to move before the next school year?
Yes and NO.
Depends on the area - I live in a tourist area - this is the end of our season
She is 100% correct. Buyers are the biggest losers in all of this.
Are we to believe the sellers are going to accept less now??? Ummm no. So if a buyer wants representation they just paid market price PLUS whatever they are paying their agent.
If they go at in on their own, the listing agent isn't goning to help them negotiate the price or contingencies. Like the listing agent is going to say, this house is overpriced or look at this mechanical item, it's on its last legs... Etc.
Buyers are gonna get f**ked
I went straight to the homebuilder and bought it off them. I cut out the middleman. The real estate agent is the middleman.
And taking a ridiculous % on today's housing prices! 7-8% as a commission made sense when housing was $25-40k. Now it's robbery. I had several agents in CA refuse to take my sale because I would only offer 4%. The lady that did take it put $40k in her pocket for a listing that sold in 2 days. I paid cash for my house in MO with the ridiculous profit from CA.
The homebuilder doesn’t have your best interest in mind, and would have payed for your agent at no cost to you( they don’t reduce the price if you’re unrepresented). A good agent would have protected your interests along the way.
@@shanes1221 jajajaja since when do agents care more about their buyers than their own pockets? As a former realtor I left because the only thing agents care about is their commission. I never heard an agent say I have to make sure my buyer gets the best price possible. Such a cut throat industry and its all about the commission. Not big on regulations but this one is needed imo
@@JR-ji5sxyou expect me to believe you’re an ex-realtor and not care about your commissions? Don’t make me laugh. You can always negotiate your commissions too. Nobody works for free. And sometimes Agents work for months with zero commissions. So take that mess somewhere else.
Home builders already have the buyer's agent commission factored into the price. You save NOTHING by not using a Buyer's Agent. Especially with New Construction, You DO NOT want to buy a home from them without an EXPERIENCED Buyer's Agent.
Everything went up much faster than wages (well, executive wages went way up.... Working people, not so much)
ITS ALL CRASHING!
Slowly but Surely..
@@jamesbass7981 Slowly , but then suddenly .
Home sales are surging because big corp are buying them..
They think these are safe havens for their portfolios in a recessionary environment . Who's going to rent these overpriced domiciles , as everyone loses their jobs ? Will the government subsidize all forms of housing ? What about all of the toxic debt that these same wealthy entities own in the form of CRE that will never be sold . Bailouts for everyone , drinks are on the house ( FED ) . U.B.I. better be pretty high in the exchange rate when it comes on board for the majority masses , cause everyone's going to need to be a millionaire . This ( real estate ) type of wealth creation has become a folly . It depends too heavily on easy money , and easy money is a very destructive force . See CRE for reference , the rich man's ghetto as it materializes right before our eyes .
Bingo!!! That’s the real reason they are making changes. Everyone is focused on other things and are not seeing what’s happening. Better position our investment to profit off this shift
What's going to happen to all the boarded up businesses in strip malls all over America? Huge commercial bldgs are empty also. Retail, restaurants, and many small businesses closing everyday, they can't make it.
According to the Venezuelan Tic Tok'er the Illegals can just move in to abandoned structure's and legally squat so Malls and restaurants are fair game for them!
46 is a disaster
46 is a coup and dictator
I was gonna like this but it has 46 likes
If the middle class has fallen down to the lower class, then it stands to reason that the upper class has fallen into the middle class. And I believe that these very nice, multi-bedroomed homes being built are what they are falling down to. Nothing that has a deteriorating working class foundation can maintain its structure. The whole thing has to start crumbling now that the middle class are falling behind and having to downsize. And the lower class are now living in their cars and tents, so those homes are going to the once middle class. We are all being re-shuffled.
There is upper class, upper middle class, middle middle class and lower middle class. Then upper working class (general contractors and self-employed small businesses), middle working class (teachers and police officers), and working class (clerks and machine operators). Then lower class. But you are right. I have been reshuffled. I was middle working class now just working class. The lower class are those making under 30,000 a year, on fixed income, and the homeless. This is the worst America I have ever seen. Us Democrats thought Trump was bad, but Biden has given a whole new meaning to “bad presidency.” Biden has shown nothing but the apathy, narcissism and imcompetence. He truly believes he is doing a good job. He will be in shock when he looses by a landslide.
My house is on the market for 5 months now ! No demand - we used to have a 2 weeks supply in my area . Now… reduced price twice !
Correct, I am seeing an overwhelming amount of inventory in Florida. Why are they trying to create an illusion about the housing market? 🤔
More Gloom & Doom for the American Dream!
“You will own nothing and be happy” Klaus Schwab
Hate to say it but we need regulations against investors and banks buying up all inventory. This administration seems built on making sure investment firms go on a buying spree
You will own nothing , and be happy . They were lying about the happy part . Do you see the rest of their plan coming to fruition ? The onslaught to bankrupt the working class is on in every way , shape , and form . The Fed , along with your chosen ones in government are responsible for the lion's share of the blame , but ordinary folks share in this keeping up with the Joneses philosophy that permeates our society . Borrow your way to happiness .
Big crash coming ,building homes at these construction ,and raw goods cost ,is just disaster coming,who can afford them,
Been arguing with many people about this. It’s a house of cards…
@@charleslavoie5402burden will be on the builders though, so sucks to suck, stop building million dollar mansions on an acre when the average person wants an affordable 4br with a yard.
Stop rooting for our demise.
@@fishingfool2644 the housing market is just the housing market, there’s no such “demise” to come by one industry collapsing
No crash, its low supply and a ton of demand. Luckily experts predict 12 out of the last 2 recessions.
int. rates are at record levels, who can buy a house
I know of a local credit union offering 3.0%
If true they won't be around for long.@@bondjovi4595
Corporations
Why are closing costs so high? By the time you pay the realtor and closing and the cost to hire a moving company there goes 45 thousand.
Because they are vampires.
closing costs have absolutely nothing to do with realtors and everything to do with title companies.
@@michaelchavez9094 I said by the time you pay the closing costs and the realtor
Whose got money to build a home that cost $300,000 you have to buy the land, piping, electric and materials and labour.
Septic
Don't even ask about sewege,and utility upgrades,to begin with, just to make a lot livable,
Can't even camp anymore. One RV camp in Fl used to be 400.00 a month, now it's 850.00 a month.
@@cathyr2419 gotta find a friend with a house,set your camper there,
Have a young friend that is early 40s. Just built a 1700 sq ft home….. $350,000. WOW
I feel bad for home buyers. The sellers know what they signed this lawsuit is BS. If people didn't want to pay a commission, they could have just sold the house yourselves. Instead, now they have ruined it for home buyers.
exactly
Biden did this 😵💫
Intentionally.
You mean Obiden! Daddy directs him on everything!
Did what? I hear good news on the economy. Both home sells and construction are "surging".
@@fishingfool2644you hear?😅
@@fishingfool2644at what price, wake up! Inflation is killing the American dream!
Remember in 2008 when this happend right before it popped?
Was just going to say this!! Guess who was in office.
Been saying this for 3 years….
Can’t wait for the ending….
It’s coming…..
I hope it crashes 20% or to pre pandemic prices, but there's no supply so its unlikely.
@@rudyjean5550 low wage increases will adjust demand and many flippers/landlords will be upside down on their leveraged business model projections.
It's not like agents were honest or fairly priced to start with
again, i will say this for the thousand time, real estate agents have nothing to do with the fair market value of a property, the price is set by three things, supply and demand, interest rates, and inflation. agents do not tell sellers at what price they must sell their home, it's always been the sellers decision..
Appraisers can artifically inflate prices @@Kenny-yw9kv
We bought our house through the listing agent, and he was great. Yes, it was bank owned, but when our first deal fell apart due to the appraiser, he got them to agree to us getting another finance company and starting over.
Hard to but a home when the banks aren't lending...
So, what is wrong with getting the best price when selling your house?
Will the new rules make it easier for private equity corporations to buy even more houses? They are already a major contributor to the housing shortage.
What goes up, must come down
It could go up further.
OK the NAR issue was mainly one of price fixes agent fees and duty of care issues with listing agents having the buyers lined up and wanting both buyer and listing or seller commissions who are they really representing when the seller normally pays all of the sales costs for commission, the line is blurred...
During the Trump time, average mortgage was $1700/month, now under biden they are $3400/month ! Who is affording this ?!!
No one really - it's all fake , fiat , borrowed money . From the individual to the largest corporation , all of it is imaginary numbers on a computer screen . It has destroyed a semi - functioning society , and created an illusion that's ending in real time . Hence , one of the reasons for their underground bunkers . The everything bubble is popping , but how many see it ?
The 1%
Finally sensible coverage of the real estate situation!
When buying a house is cheaper than renting for 200 alex 😂😂😂
Also, don't forget about the attempt to give illegal immigrants no money down loans to buy houses. Got to love it.
Greed! Nothing more!
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Building codes are a real cost problem, for example, they are talking about requiring sprinkler systems in new homes, big cost to cover small risk. The code requires many superfluous items that raise the cost. Make house codes make sense
The water damage alone will render the home a total loss . Where's the sense in it ? Idiocracy logic .
Interest rates aren't the real problem it's the astronomical cost of houses. Also, paying 6% for a realtor is ridiculous!
Trump is a very brave president. He is not afraid of any threats. God bless TRUMP ❤❤
So brave he's allowing fraudulent coup in office 3 years and counting
The answer is flat fees for buyer and seller representation, not fees based on a percentage of sales costs. But realtors don't even want to consider that, so the lawsuit is forcing their hand.
I'm in tX, mortgage rates here are still above 7%, true in GA
Retired in Florida 25% higher property tax this year , insurance doubled . I’m on a fixed income
And ran by the GOP. I hope you find some relief.
I always go to the listing agent because the the non-listing agent never knows anything about the house
neither do most sellers, it's why a home inspection is so important. Remember, sometimes sellers have a short memory, it is always best for a buyer to have their own representation for their protection.
It's a HORRIBLE ruling!
Now even if I (can afford to!) hire a buyer's agent out of pocket, seller's agent can wait for an offer from a buyer using them entirely , removing all negotiating power from the buyer
Non-sense. Now you can price shop for buyer's agents. Sellers can price shop for seller's agents. This will improve things and the Fox person is a bought and paid for real estate agency hack.
You don't necessarily have to pay upfront for a realtor. They still can get paid. The amount is now not disclosed on the MLS. And if the buyer decides not to offer buyer commission ( which has always been an option, the majority at large just didn't know it was because the most REALTORS did not disclose this to the sellers),you can always negotiate the buyers commission in conjunction with the offer on the home. They are making it seem like something huge has changed but it hasn't.
$HIT GETTING READY TO HIT THE FAN, I'M JUST SAYING. BUCKLE UP BUTTERCUP!!🤔
Building migrant facilities
Criminal aliens!
Subsidizing the enemy . These Invaders are not your great grandparents migrants . Look at who is financing and enabling all of this . Elephants and Donkeys alike . Now the home grown thieves will have competition at the smash and grabs , along with longer lines at the Dispensaries and liquor stores . Zombie Apocalypse , Mad Max , here we come . AKA The Great Tribulation .
$34 trillion of government borrowing and printing has a way of diluting the buying power of our dollars and creating runaway inflation.
Oh really ?
Actually I like the more stringent building codes. I do wish they had inspector inspectors though. Codes don't make any difference when inspectors "look the other way" 💰
If your home meets Miami-Dade Building Codes... You are in a very secure Home.
It has to be able to resist 100mph 2x4's being launched into it.
Even the windows must have shutters or covers to resist that!
How much is the monthly payment???? I have foolish friends here in Fl that bought new, and now have a $5,000 a month payment. WHO IN THEY'RE RIGHT MIND WANTS A 30YR, $5000 A MONTH PAYMENT. ADD THE CARS, ETC, WHERE'S THE $$$ COMING FROM
People with money. But yea my brothers house in Az was like $2000 per month.
Credit cards
Rich mommy and daddy.
I have multiple friends who are in this boat.
I keep asking, who are these people? What are they doing for a living? Where did I go wrong?
They have lied , stolen and borrowed their way to prosperity on the backs of the working class . Their portfolios and investments are about to go down the toilet , and they don't believe it . Bubble pops , contagion sets in , and all of that imaginary wealth returns from whence it came - right back into thin air .
She’s not very good at reading the Teleprompter.
Thank Biden and the dem-o-rats..
Who can afford to buy a brand new house? Who would want to? Unless you know the builder & their work, most are just slapped up without much attention.
Tofu Dreg
This woman is obviously a realtor
If you're buying a home you're not looking at the data.... have fun being massively upside down
Nothing is down in price since they said the inflation was 9%. They just further manipulated the calculation a d said it is at 3% like we are not going to notice.
Literally not one thing is less in price!!!
Why are you allowing a realtor to lie on the show and to the American people? Rates have been below 7? For who and where? Buyers market? Only idiots are buying right now. New home builds can’t build fast enough? I’m in California and the new home tracks around me are sitting silent. Katrina you’re part of the problem!
She's one of the worst script readers I've ever seen and heard . Pretty faces , telling pretty lies . They want every sucker on board that they can get . Then the rug pull .
Who in their right mind would want to live in California? The only state that wanted to tax people for leaving. How stupid.
Cause the landlords are killing us my rent has been raised 3 times on me since Covid
If I saw the rates correctly why would anyone buy a 30 year
Wish Maria would break down where in the US the new starts are etc...would love to see how much the blue states are failing and how many people are selling and moving out
Our State is flooded with out of State license plates , and it's not what you would call a conservative haven . The mass migration from all over because of unsustainable living conditions is going on all over the world . The grass is always greener on the other side of the fence ( wall ) , don't you know . From the pan into the fire . There's no place like home , until it becomes someone else's home that disregards work , and the rule of law .
The shift is for progressive cost reduction, not regressive. From a buyer's point of view, why should they pay an agent (via split commission) when they can get the information on the internet for free? The argument that the seller pays the commission is surface level, everything gets embedded in the sales transaction. It sounds like she is a real estate industry representative, and they don't like the turmoil this change will cause.
1. the shift is definitely regression. 2. free information is available to both seller and buyer, being able to view a property online is the same as before the internet when properties were printed on paper in newspapers, it's just the first step in the home buying process, it's the same as a toddler taking it's first steps. 3. The seller pays the commissions out of the equity that they have gained by paying down their mortgage, yes, the commission is noted on settlement sheet as part of the sale, but the commissions paid are a net loss out of the seller's equity.
realtors are way over paid.
The idea that a buyers agent is worth tens of thousands in dollars to a buyer has been absurd forced portion of the process. That is why NAR lost their case. It was a racket.. that 99% of people were forced to pay for. Well no more. Thank God
They were never “forced to pay” them. A listing agreement can be written any way a seller wants. Put $1 for the buyer’s agent if you want to. This is not the problem it’s been made out to, but surprise, surprise no one in media has mentioned this…
An agent isn’t going to work for free. The truth is in CA, you don’t need an agent at all. Buy directly from the owner - use an escrow company & title company. Negotiate with the owner and get a deal done.
The biggest mistake was enabling 2-3% interest rates. People who bought or refinanced at these historically low rates are now stuck and will not sell. It screwed up supply and now prices will keep increasing despite higher rates.
Bubble will bust soon
And when it does , it will be the stinkiest fart that mankind ever smelled .
It’s not just driven specifically by the lack of inventory because builders are not building enough houses, but rather they are building more apartments and leased complexes to get denser populations rather than standalone houses. That’s what I am seeing. Mortgage rates make it more likely people are unable to get into houses so leasing or renting is easier.
A flat fee should be the norm. Percentage of sale is a ripoff. Whether you are selling a $400,000 home or selling a $4 million it is the same effort. Who came up with percentage of sale?
Read that teleprompter line by line. Not Maria!
And a bad reader at that . I guess a pretty face can take you far in this world . No skills needed .
2008 comes to mind. Ridiculous prices for people who can't afford them. Let's not forget all the illegals you will have to pay for. My property taxes went way up .
Absolutely agree with you!
why do buyers have to keep buyers agent?!!
I am posting this on all the real estate, financial type youtube channels. Let's just call this real estate market what it is right now, GREED! If we can use all these channels to get the word out to “Us” would be homebuyers, to just STOP BUYING! If we can get enough people on board with this, it absolutely would bring home prices down. The only reason prices are as high as they are right now, is because people continue to buy at these ridiculously high prices! Let's all do our part to get the word out, STOP BUYING. Spread the word! We will all be able to buy much more affordable homes in no time! It's only logic. Thank you to all of you, soon to be home buyers.
Yes put your dreams on hold for some random person on TH-cam comments section. Buying or selling a home is always a personal decision. Regardless of the market
That is incorrect we can pay buyer agents just cant offer on MLS
Our poor country is in such a mess! Come on in 2024 fix it ❤
She is reading a script.
Welcome to the show.
Are you not entertained?
I have never paid 6% it was always negotiable. Anyway I always closed the deal with a real estate lawyer as I never trusted the real estate agent. Buyer or seller agent they work together for the sale and not for you.
I left California 3 yrs ago and bought a 50k$ home in Oklahoma. It’s worth almost twice that now. Put down half so mortgage loan is only $225/mnth tax/ins avg is $100/mnth total. Best decision I ever made
Any tornadoes yet?
That’s what I don’t get. You hear these real estate people talking and you’d think that buying a home is an inherently hostile confrontation where there’s a certainty that one party is going to win and the other will lose. If you read between the lines of the NAR suit, greed was on trial. Some sellers realized the enormous amount of money they paid in commissions and didn’t like it. Lo and behold, in the testimony and in the training materials presented in the case, there was an effort to hide and omit the fact that commissions are negotiable with the brokers in the suit. 6% of $500,000 is $30,000 🤷♂️ 30k. Now I’m sure that there are some unique deals that require a bit more work from the agent but from my experiences with buying and selling I occupied no more than ten hours total agent time including phone and showings. One completed the contract in his car on his lap top and printed it on my computer lol. 30K folks. Thats not happening again.
best thing the agent does is: make sure you get paid, and makes sure all the paperwork is handled correctly, markets your house, that is a lot of work sometimes
the training Manuals that I used never said to hide the fact that commissions were negotiable, in fact it was the opposite, it stated to always disclose to a seller that the commission is negotiable. you occupied 10 hours of your face-to-face time with your agent, now, you can add another 20 hours of behind the scenes time that agents spent working to make sure that the deal was successful.
@@Kenny-yw9kv. So….$30k for 30hrs seems fair to you?
@@NewlinjimIf it’s not fair then structure your agreement with your agent differently. It’s NEGOTIABLE. It’s almost like people are purposely missing this point.
Too many hands in the cookie jar , and everyone is getting rich at someone else's expense . It all has to get paid over a long time period , with lots of sweat and labor , except for the chosen , smiling few with the fast sales pitches . Pretty packages , with expensive prices . Unsustainable .
The seller can still compensate the buyers agent. It just can't be advertised in the MLS. Horrible setback for homeownership. Interview someone that knows more than hear. This is fake news
Don’t forget people with good credit are expected to pay more. No more everyone is equal
The majority of agents average $50,000 a year out of that comes fees, licenses constant classes to attend and never is their a guarantee of a sale to generate a commission. There is a lot of work that goes on behind the scene to make sure the sale goes through which it doesn't always do and to make sure the buyers don't get stuck with a money pit. By the way the majority of sales commissions are negotiated with the seller. Very few hit the 6% mark. NAR does not set commissions or even get involved. Many first time buyers are FHA or VA and both do not allow a buyer to pay a commission. So buyers are going to be stuck finding houses for sale without access to the multiple list. Plus agents help find the right lender depending on the buyers financial condition. I resent you people that think you are experts. The majority of sellers who try to sell their own homes eventually turn the process over to an agent.
Ya because agents black list for sale by owners. There are some good people in real estate but tend to be just a greedy
Are you in Real Estate ? or is all your evidence "assumptions". No one I know "Black lists" FISBOs. The facts are we use the MLS to find homes for our customers. If nothing fits some will look through the sources where FISBOs advertise and many times they will get in touch with sellers. If by "greedy" you mean we earn a living and take care of our families and our communities with what we earn then I guess we are greedy. I work primarily with condos. My goal is to find the perfect fit for my buyers. One of my biggest concerns for my clients are special assessments. I spend time when not with clients staying up on all the information I can gather from a variety of sources to keep my clients from making costly mistakes. Buying a condo and then finding out 6 months later that there was a special assessment that the owner didn't tell you about because they were trying to get out before bankrupted them !
I have yet to see a realtor worth a 2% commision (I'm sure they're out there but some say so are unicorns). I trust used car salesmen more than a realtor. I've been buying and selling houses for decades now and let's just say it's not rocket science.
no, agents do not black list FSBO's, why would a real estate agent take their buyer to a FSBO that is not offering a buyer's agent Commision, would you go to work everyday and not get paid, come on man@@RollinHomies
that's the point right, if a person buys and sells property a couple times a year they have the experience needed without using an agent, however, the majority of people buy and sell one property during an entire lifetime, do you really expect people to handle the biggest financial transaction of their lifetime without any knowledge or experience, that's insane. @@oliphauntsneverlie6227
Builders are not cutting prices. They are just not building
Wow that woman is beautiful ❤️
There no shortage in inventory
Got to check out the property tax in your area. Mine was increased %300 this year
Ours just went up a ton too
If the realtors don't like this, it must be a good thing.
You’re spewing lies. Listing agents have been pitching buyers to bid against each other and your buying agent can’t do anything. Hence the lawsuit specifically spelling out colluding and manipulating.
They're already buyer agent services that don't charge a percentage but a flat rate. Those agencies will make $$$ because it'll be better to pay $800 to someone vs $7,000
People can't pay , that no longer have jobs , or " passive " income .
@@huntncover Then they won't be buying and house values can start dropping.
Whos buying.... People overpaying for houses they dont even like and will end up losing
This person is not all correct. Building codes have nothing to do with the cost of a home. The builders don't follow the code. What your engineer puts on the plan and stamps his or her approval supercedes any code. And it's supposed to be meeting the code that is the minimum. Today's builders are not all the same. However to be in that business is tough and expensive. in my area housing is over 1 million$ that's the average cost. To build the same house will cost more. About 800k more, without land or development cost to the land. Land is scarce and older homes need one of everything that could cost 600k in a remodeling. I don't see any savings. You think you're going to save money, nope Joe bidet will add a dollar to it and send it away!
They may have a 9.5% raise in home sales but that’s because they are giving homes to anybody that is stupid enough to buy one right now. I had two friends that just bought homes and their credit scores were 560 how the hell did they get qualified?
FHA and VA
Govt programs of course!
"let them eat cake"
It’s really dumb. They’ll just have to offer their buyers commission over the phone instead of having it transparent in the MLS.
I am hoping A.I. and virtual home tours will remove realtors from the picture completely. The realtor process is out dated and adds huge cost to the buyer and seller. A buyer can spend 5-6 years just paying down the realtor costs on a mortgage.
You really don't know what you are talking about. At the end of the day, this ruling the buyers suffer by selfish people especially first time home buyers