We flew into Missoula from out of the country in August 1999 to look at homes for our first home purchase. After spending a weekend looking at homes, the buyers' agent suggested we look at one very last home as none of the homes we looked at were to our liking. It was a home the agent just listed a few weeks prior. The sellers were unwilling to negotiate further after we counteroffered the sellers' counteroffer, which was the maximum we could afford to buy. The home was sold to us through the agent negotiating a lower commission rate paid by the seller. We raised our six children in the Missoula home. Thank you, Will, for your excitingly accurate and informative videos!
Had a deal fall apart last year - after looking in 5 states. It was really a sad situation of the selling agent being more honest with me than my own agent. Trust broken, I bowed out of the deal and suspended my home search in that state. Unfortunately, not all agents are like you, Will. Honest, detailed and forthcoming. It is still an issue of home unaffordability for many of us buyers waiting on the sidelines and thanks to the NAR lawsuit, we will just have to plan to spend more $$. I have no problem paying an agent for their hard work. Thanks for the great information, as always.
Good stuff as always. I still think the most understated value of an agent is protecting you from having to interact with a bad agent. Learned this the hard way.
Funny Story: I had a co-worker that did a FSBO and had a sign in front of his house in a a hot real estate market. An agent stopped and said he had a buyer, but would he pay the $20k commision. My co-worker said, "Sure...I'll pay the commision. My sale price just went up $20k." The agent got pissed. My co-worker ended up selling for asking, and never paid comission.
ABC News just did a depressing story on the lumber mill at Seeley Lake. There's a youtube video from a few days ago... In a nutshell there's no affordable housing and lumber demand has slowed so the mill is shutting down. They say the loss of millions of dollars will ripple through the town. Of course the lack of afforable housing is the result of more affluent buyers driving the prices up and residents not wanting to increase taxes on infrastructure (sewage etc) and government services so they can't add new housing. It's a catch-22!
Thanks for this update. A lot of drama over nothing and yet someone makes out with a ton of money. I am flabbergasted by people who expect others to work for free. Perhaps you could do a video on why people should be represented by an agent vs. representing one self.
Thank you. Love your information. I've bought 9 properties in my life. Several times when I found a property I liked I would contact a local realtor and they would first show me properties that they had listed. Also when selling I found out later that my realtor did not present offers to me because she didn't like the offer. ?????????
This is going to backfire for buyers are my thoughts they should have just outlawed dual agency instead where I live it’s legal but you have to sign that you know what it is they should not be allowed not even the same brokerage company is my thought not saying that agents are dishonest at all! It’s just almost impossible to be fair in dual agency no way this will lead to yet another law suit down the road
I have bought and sold several properties in northwestern Montana over the past 25 years. Never has the commission been negotiable, and if it truly was, no agent ever suggested a lower percentage unless it assured a deal was consummated. Typically too, agents only showed their own listings unless a buyer pushed to see another listing. Sadly, the real estate industry allowed this situation to occur because of greed and, worse yet, they became a ripe target for even more greedy lawyers. The real estate agencies have been protected by their monopoly. Candidly, only a few agents actually work hard to justifiably earn those crazy high commissions. Payment for services should be based upon value received, not on an arbitrarily fixed percentage of the selling price.
Not sure what the solution will be for first time buyers but the status quo wasn't fair for the seller. But that's the way it's always been in finance. Tap into whoever has the money. And something needed to change with the MLS strangle hold. Gawd forbid anyone ever needs to write a check for lawyer-client relationship fees as that money is all but certain to be burned up courtesy of the lawyer's 'time keeping honor' system.
Good to know. I'm looking right now. I'm going to make sure and ask my agent to verify if the buyer's agent is getting proper commission, according to contract.
@@LivinginMontana1 I wish we would have too. We’re thinking about Libby or Troy. The forested mountains around Columbus would work too. If we found the right place around Columbus we’d move there, as my wife could work in Billings as a nurse at the hospital. She has family all over MT. 1 brother lives in Rapelje and the other in Laurel
We flew into Missoula from out of the country in August 1999 to look at homes for our first home purchase. After spending a weekend looking at homes, the buyers' agent suggested we look at one very last home as none of the homes we looked at were to our liking. It was a home the agent just listed a few weeks prior. The sellers were unwilling to negotiate further after we counteroffered the sellers' counteroffer, which was the maximum we could afford to buy. The home was sold to us through the agent negotiating a lower commission rate paid by the seller. We raised our six children in the Missoula home. Thank you, Will, for your excitingly accurate and informative videos!
Thank you!
You are not afraid to tell it like it is, Will. One of the reasons I like your videos.
Had a deal fall apart last year - after looking in 5 states. It was really a sad situation of the selling agent being more honest with me than my own agent. Trust broken, I bowed out of the deal and suspended my home search in that state. Unfortunately, not all agents are like you, Will. Honest, detailed and forthcoming. It is still an issue of home unaffordability for many of us buyers waiting on the sidelines and thanks to the NAR lawsuit, we will just have to plan to spend more $$. I have no problem paying an agent for their hard work. Thanks for the great information, as always.
Good stuff as always. I still think the most understated value of an agent is protecting you from having to interact with a bad agent. Learned this the hard way.
Yes you did! Maybe we should do a video about that 😂
Funny Story: I had a co-worker that did a FSBO and had a sign in front of his house in a a hot real estate market. An agent stopped and said he had a buyer, but would he pay the $20k commision. My co-worker said, "Sure...I'll pay the commision. My sale price just went up $20k." The agent got pissed. My co-worker ended up selling for asking, and never paid comission.
ABC News just did a depressing story on the lumber mill at Seeley Lake. There's a youtube video from a few days ago... In a nutshell there's no affordable housing and lumber demand has slowed so the mill is shutting down. They say the loss of millions of dollars will ripple through the town. Of course the lack of afforable housing is the result of more affluent buyers driving the prices up and residents not wanting to increase taxes on infrastructure (sewage etc) and government services so they can't add new housing. It's a catch-22!
Thanks for this update. A lot of drama over nothing and yet someone makes out with a ton of money. I am flabbergasted by people who expect others to work for free. Perhaps you could do a video on why people should be represented by an agent vs. representing one self.
Ive lived all over the country and the commission has always been non-negotiable “in reality “. I have never lived in Montana though.
Thank you. Love your information. I've bought 9 properties in my life. Several times when I found a property I liked I would contact a local realtor and they would first show me properties that they had listed. Also when selling I found out later that my realtor did not present offers to me because she didn't like the offer. ?????????
Not presenting an offer is a violation of Realtor code of ethics and in states that I work it is a violation of law.
This is going to backfire for buyers are my thoughts they should have just outlawed dual agency instead where I live it’s legal but you have to sign that you know what it is they should not be allowed not even the same brokerage company is my thought not saying that agents are dishonest at all! It’s just almost impossible to be fair in dual agency no way this will lead to yet another law suit down the road
I was watching something about this with Barbara Corcoran today! She did a good job of explaning it and so did you!!Thanks!!
Like others said, thanks for telling it how it is! looks sooo beautiful there in Montana
I have bought and sold several properties in northwestern Montana over the past 25 years. Never has the commission been negotiable, and if it truly was, no agent ever suggested a lower percentage unless it assured a deal was consummated. Typically too, agents only showed their own listings unless a buyer pushed to see another listing. Sadly, the real estate industry allowed this situation to occur because of greed and, worse yet, they became a ripe target for even more greedy lawyers. The real estate agencies have been protected by their monopoly. Candidly, only a few agents actually work hard to justifiably earn those crazy high commissions. Payment for services should be based upon value received, not on an arbitrarily fixed percentage of the selling price.
You must have picked some really bad agents!
Anyway what's the property tax situation for veterans in MT now
Excellent information!!!! Well said, Will !
Thank you!!
Not sure what the solution will be for first time buyers but the status quo wasn't fair for the seller. But that's the way it's always been in finance. Tap into whoever has the money. And something needed to change with the MLS strangle hold.
Gawd forbid anyone ever needs to write a check for lawyer-client relationship fees as that money is all but certain to be burned up courtesy of the lawyer's 'time keeping honor' system.
Good to know. I'm looking right now. I'm going to make sure and ask my agent to verify if the buyer's agent is getting proper commission, according to contract.
Thanks for sharing this information. Cheers, Will!
Great info again!
Thanks again!
Hi, from Dickey lake🙋🏻♀️
Hello!
You must be wealthy to live in Whitefish
Nope, got here before the explosion!
@@LivinginMontana1 I wish we would have too.
We’re thinking about Libby or Troy.
The forested mountains around Columbus would work too.
If we found the right place around Columbus we’d move there, as my wife could work in Billings as a nurse at the hospital.
She has family all over MT. 1 brother lives in Rapelje and the other in Laurel