So much for ethics , I have bought and sold a lot of houses and you are correct realtor’s do not have any one’s best interest at heart there for the most part are predictors, the house will sell them selfs commissions are way to high for the service they provide
Or for all obviously! I used the bank’s realtor to buy a foreclosure without a realtor myself so he would get double the fee. The guy tactfully guided me through the whole process (it is his job to facilitate the sale for the bank though). I contacted regular realtors and they had no idea how to make a foreclosure deal go through! He was surprised I figured it out eventually. It was like magic. He gave me all the correct suggestions and tips! I almost walked into closing without the check! It was the last house for sale before the rates and inventory made buying much harder! My cousin went through thirty realtors before buying with a great one who told him “if he doesn’t absolutely love the condo, he shouldn’t buy it.” A good realtor who works in a good agency will help make an otherwise impossible sale possible.
I want to share a story: i am a tradsman like Mr. Sachs. He was a am a plumber. Us blue collar guys have a good sniffer for slime ball people. I never liked realtors, i just went to realty school recently to buy my own investment properties. Well, when i got there my teacher was absolutely awesome. The first day he started talking about honor and integrity. I was like??? This isn't what ive seen with these slick/phoney realtors I've ever met. He explained 95% of realtors are for themselves, and 5% are truly for the people. Thats exactly how i did great in plumbing, being for the people, even if i made no sale. I am now very proud to be on this realty path, reading many books, and studying youtubes. Mr. Sachs has my favorite show, and it's much deeper than just real estate. Thank you! -Dan in Marietta
@SachsRealty you earned it Mr. Sachs! It is very obvious that you are genuine and care about people getting into homes, without being fleeced. My word was gold as a plumber, and it will be as a realtor. Otherwise, all the money in the world is ill begotten. This is how rock solid companies are built, with very little advertising dollars needed.I would love to see you do a show dedicated to cultivating honor and integrity in realty. A show letting the world know that us realtors know that there are many bad apples. The plumbing world is loaded with bad apples: most plumbers in Atlanta are not licensed, and many overcharg. You stand alone Mr. Sachs as the realtor for the people. I have another realtor show I watch that is great on tactics, his initials are B.M. but you sir, are bringing wheelbarrows full of truth and honor. -Dan
The 10 most costly mistakes of buying a new home (1) Buying a new home (2) Buying a new home (3) Buying a new home (4) Buying a new home (5) Buying a new home (6) Buying a new home (7) Buying a new home (8) Buying a new home (9) Buying a new home (10) See 1-9
10 of the most costly mistakes people make when buying a home: Skipping the Mortgage Pre-Approval Without a pre-approval, buyers might waste time looking at homes outside their price range or miss out on homes because they couldn't secure financing quickly enough. Failing to Budget for All Costs Homebuyers often overlook additional costs like property taxes, insurance, maintenance, and repairs, which can strain their finances after purchase. Not Shopping Around for a Mortgage Settling for the first mortgage offer might mean missing out on better interest rates, terms, or lower fees that could save thousands over the loan's life. Overextending Financially Buying a home that stretches the budget too thin can lead to financial stress, leaving little room for emergencies or unexpected expenses. Skipping the Home Inspection Forgoing a home inspection to save money or close quickly can result in costly repairs later, such as structural issues, plumbing problems, or roof leaks. Ignoring Market Conditions Buying at the wrong time, such as during a seller’s market with inflated prices, can lead to overpaying or purchasing in a market that will see a correction. Not Researching the Neighborhood Failing to investigate local schools, safety, commuting distance, or future development plans can lead to dissatisfaction with the location or decreased property value. Underestimating Closing Costs Buyers sometimes forget about closing costs, which can range from 2% to 5% of the home’s price, leading to unexpected financial pressure during the final steps of the transaction. Making Large Financial Changes During the Buying Process Taking on new debt or changing jobs can disrupt the mortgage approval process or impact credit scores, potentially derailing the home purchase. Being Led by Emotion Instead of Practicality Emotional purchases, like buying a home based on aesthetics alone, may lead to choosing a property that doesn't meet long-term needs, such as location, size, or future marketability. Avoiding these common mistakes can help homebuyers save money and reduce stress throughout the process.
Very good video and most realtors care about the almighty dollar than the client. I have few real good realtors who gone out of their way to make sure they represent the buyer. It is helpful to know a little bit about construction etc. I use to flip homes that i bought when i lived in Southwest Mich. I always brought up to code and might go past code a little. One electrical inspector for Kalamazoo taught me what i had to do in the electrical without a permit. He would check my work and i learned a lot through him. I loved buying and repairing foreclosures and bring up to standards and selling for a good profit. The title company called me into the back office to see if i wanted to start a LLC. i chose not. I love real estate a lot more than renting out a house. Now i am looking to turn my home into adult foster care home. Tax free and VERY good money in it. You can also have a major impact on the residents they will respond to the way they are cared for. I am 68 and it is another way to retool myself in this part of my life. I love your videos and still love real estate
Last year Rocket Mortgage offered cash incentives to use their agents and we tried it but the agents sucked! Lesson learned! Good advice Todd! Do you have a video about using LLC and holding property in retirement fund?
I think alot of people got caught up buying a house because rent went up so much it was cheaper to buy but now rent is up and housing is up its ridiculous id have to live and hour from work for cheaper rent.
most school teachers near me make $100K+, many $150K+ and they dont need raises. Where I am planning on moving the agents "buyers and sellers" like a dual agent work together to keep the price high because they BOTH make a higher commission. They also lie and deceit what is on property(such as it has a barn in large letters and has a 8'x10 shed falling down, seriously), have refused to take lower than asking price even though one home has been listed for 8 + months and one home has an ala carte: home w/ property, 40 more acres with needed barn, cabin nearby and/or road leading to creek nearby. Who besides buyer of home would want to buy a deed to a nearby road?
This new law will be a roadblock for many buyers who can barely scrape up the down payment. Net outcome, housing prices will come down until down payment + buyers fee total make sense.
Hi Todd, just the couple of times I had an agent show me a house all they basically did was open the door so I could look around. Why pay an agent for that? I can understand once you start the process of buying and they really work to get you the best deal and make sure you don’t get ripped off then have a payment agreement but not just for opening a door!
Just call the seller or listing broker. They will show you the house. They don't represent you, and I think that's a good thing. The buyer knows where they stand. That's how it used to work years ago.
Speaking of immigrants the entire border issue aside. Yes absolutely there are Mexicans who dont speak English or very little, signing loan docs all the time and cannot read any of what they are signing. How can you sign docs you cannot read and understand? Also Lenders have now allowed these same buyers to print as their signature since they cannot write cursive. How they have money to buy a house at all time high prices is odd.
If a buyer’s agent works in their own self interest & benefits from an over listing offer, wouldn’t a flat fee eliminate that. Same commission regardless of final price.
Hi Todd, Please answer this question. If both buyer and seller agents are required to have a contract and if in the past seller agents were charging 5 to 6%. Why not have a standard rate for both agents that splits the cost 50/50? Then just have in the agreement that the seller side will pay the cost? Isn’t that basically how it worked before? Seller agent would split there commission with the buyer agent? Why not have a cap on commission for both sides that all together can’t pass six percent, give or take? It sounds like they are making a bigger mess out of this than it should be! I’m not an agent obviously but I don’t think this should be made so difficult unless buyer and seller agents are both striving for higher commission over all. Example is when in the past commission for selling, was five percent and now seller agent still wants 5% and now buyers agent wants 5% making overall commission 10%.
In most cases the seller agreed to a commission with their listing broker. The seller then authorized the listing broker through a listing agreement to cooperate by paying a portion of their commission to the buyers broker. So yes you are correct with that. The problem with coming up with a standard fee or commission across the board would create price fixing and would violate anti trust laws.
Haven't seen your a bit awkward but cool buddy on the show lately 😢 I bet he has a take on the second unliving attempt on a certain person running for a certain office that is important in regards to running things...
Dear first caller: Never start any conversation/interview/discourse with the words "ohhhh man". The audience immediately understands why you went through so many interviews. Maybe instead: "Good evening Todd, thanks for taking my call, I'd like to get your thoughts on, . ."
If you are buying a 1.5Million property paying just minimum downpayment, you don't understand nothing about real estate. Nothing. The property of that value today is flat, maybe going a little bit lower. You are paying almost $10,000 taxes, mortgage interest in 30 years will be another 1 million. Where is your brain? Please work with experienced Realtors. Interview at least 5 agents and 5 mortgage brokers to understand numbers.
If you bought far away from the city in 2006, you lost money; if you didn’t buy in 2010s near the city, you lost out and are forever priced out of owning a house!
This channel and Peter Schiff thrive on negativity and doom and gloom when reality is variable. Yes there is risk in anything you do! Buying can be bad and not buying can be very bad too. You have to figure things out for yourself gathering info from different sources!
So much for ethics , I have bought and sold a lot of houses and you are correct realtor’s do not have any one’s best interest at heart there for the most part are predictors, the house will sell them selfs commissions are way to high for the service they provide
Or for all obviously! I used the bank’s realtor to buy a foreclosure without a realtor myself so he would get double the fee. The guy tactfully guided me through the whole process (it is his job to facilitate the sale for the bank though). I contacted regular realtors and they had no idea how to make a foreclosure deal go through! He was surprised I figured it out eventually. It was like magic. He gave me all the correct suggestions and tips! I almost walked into closing without the check! It was the last house for sale before the rates and inventory made buying much harder! My cousin went through thirty realtors before buying with a great one who told him “if he doesn’t absolutely love the condo, he shouldn’t buy it.” A good realtor who works in a good agency will help make an otherwise impossible sale possible.
I want to share a story: i am a tradsman like Mr. Sachs. He was a am a plumber. Us blue collar guys have a good sniffer for slime ball people. I never liked realtors, i just went to realty school recently to buy my own investment properties. Well, when i got there my teacher was absolutely awesome. The first day he started talking about honor and integrity. I was like??? This isn't what ive seen with these slick/phoney realtors I've ever met. He explained 95% of realtors are for themselves, and 5% are truly for the people. Thats exactly how i did great in plumbing, being for the people, even if i made no sale. I am now very proud to be on this realty path, reading many books, and studying youtubes. Mr. Sachs has my favorite show, and it's much deeper than just real estate. Thank you! -Dan in Marietta
Dan thank you 🙏
@SachsRealty you earned it Mr. Sachs! It is very obvious that you are genuine and care about people getting into homes, without being fleeced. My word was gold as a plumber, and it will be as a realtor. Otherwise, all the money in the world is ill begotten. This is how rock solid companies are built, with very little advertising dollars needed.I would love to see you do a show dedicated to cultivating honor and integrity in realty. A show letting the world know that us realtors know that there are many bad apples. The plumbing world is loaded with bad apples: most plumbers in Atlanta are not licensed, and many overcharg. You stand alone Mr. Sachs as the realtor for the people. I have another realtor show I watch that is great on tactics, his initials are B.M. but you sir, are bringing wheelbarrows full of truth and honor. -Dan
The 10 most costly mistakes of buying a new home
(1) Buying a new home
(2) Buying a new home
(3) Buying a new home
(4) Buying a new home
(5) Buying a new home
(6) Buying a new home
(7) Buying a new home
(8) Buying a new home
(9) Buying a new home
(10) See 1-9
:) thank you.
10 of the most costly mistakes people make when buying a home:
Skipping the Mortgage Pre-Approval
Without a pre-approval, buyers might waste time looking at homes outside their price range or miss out on homes because they couldn't secure financing quickly enough.
Failing to Budget for All Costs
Homebuyers often overlook additional costs like property taxes, insurance, maintenance, and repairs, which can strain their finances after purchase.
Not Shopping Around for a Mortgage
Settling for the first mortgage offer might mean missing out on better interest rates, terms, or lower fees that could save thousands over the loan's life.
Overextending Financially
Buying a home that stretches the budget too thin can lead to financial stress, leaving little room for emergencies or unexpected expenses.
Skipping the Home Inspection
Forgoing a home inspection to save money or close quickly can result in costly repairs later, such as structural issues, plumbing problems, or roof leaks.
Ignoring Market Conditions
Buying at the wrong time, such as during a seller’s market with inflated prices, can lead to overpaying or purchasing in a market that will see a correction.
Not Researching the Neighborhood
Failing to investigate local schools, safety, commuting distance, or future development plans can lead to dissatisfaction with the location or decreased property value.
Underestimating Closing Costs
Buyers sometimes forget about closing costs, which can range from 2% to 5% of the home’s price, leading to unexpected financial pressure during the final steps of the transaction.
Making Large Financial Changes During the Buying Process
Taking on new debt or changing jobs can disrupt the mortgage approval process or impact credit scores, potentially derailing the home purchase.
Being Led by Emotion Instead of Practicality
Emotional purchases, like buying a home based on aesthetics alone, may lead to choosing a property that doesn't meet long-term needs, such as location, size, or future marketability.
Avoiding these common mistakes can help homebuyers save money and reduce stress throughout the process.
Tell us how you really feel.😂
@@cfoster6804 GOLD IS THE NEW REAL ESTATE
Very good video and most realtors care about the almighty dollar than the client. I have few real good realtors who gone out of their way to make sure they represent the buyer. It is helpful to know a little bit about construction etc. I use to flip homes that i bought when i lived in Southwest Mich. I always brought up to code and might go past code a little. One electrical inspector for Kalamazoo taught me what i had to do in the electrical without a permit. He would check my work and i learned a lot through him. I loved buying and repairing foreclosures and bring up to standards and selling for a good profit. The title company called me into the back office to see if i wanted to start a LLC. i chose not. I love real estate a lot more than renting out a house. Now i am looking to turn my home into adult foster care home. Tax free and VERY good money in it. You can also have a major impact on the residents they will respond to the way they are cared for. I am 68 and it is another way to retool myself in this part of my life. I love your videos and still love real estate
Thanks for sharing 🙏
Caballero de buen moral!! From Cali, Hello Mr. Sachs👍🏼
Buying a house with a pool
... Worst decision ever. You have zero idea how costly and how much work it is to maintain.
Lets not forget ASR : Concrete Cancer. People are learning about it now and suing
Last year Rocket Mortgage offered cash incentives to use their agents and we tried it but the agents sucked! Lesson learned! Good advice Todd!
Do you have a video about using LLC and holding property in retirement fund?
I think alot of people got caught up buying a house because rent went up so much it was cheaper to buy but now rent is up and housing is up its ridiculous id have to live and hour from work for cheaper rent.
I will never, ever buy anything with an hoa.
Shannigans is the word your looking for reverse mortgage.
I am 4 days into escrow on my very first home. Wish me luck!
Wish you the best
Make sure you put into the contract a stipulation stating tax caps on your purchase.
@@deborahheckstall1881 please elaborate. Im not sure what you mean exactly.
most school teachers near me make $100K+, many $150K+ and they dont need raises. Where I am planning on moving the agents "buyers and sellers" like a dual agent work together to keep the price high because they BOTH make a higher commission. They also lie and deceit what is on property(such as it has a barn in large letters and has a 8'x10 shed falling down, seriously), have refused to take lower than asking price even though one home has been listed for 8 + months and one home has an ala carte: home w/ property, 40 more acres with needed barn, cabin nearby and/or road leading to creek nearby. Who besides buyer of home would want to buy a deed to a nearby road?
Hey Malissa! We miss you over here. Hope all is well.....
I ain’t paying nobody to go look at a house.
Many Buyers agents do not want to "offend" the listing agent by presenting an offer below the listed price.
This new law will be a roadblock for many buyers who can barely scrape up the down payment. Net outcome, housing prices will come down until down payment + buyers fee total make sense.
Home prices need to come down to affordable levels. 8x, 9x and more annual household incomes are not sustainable.
Great podcast Todd
Thank you
@SachsRealty always enjoyable even without a guest. I like how you navigate the callers also. Always good info and insight
Hi Todd, just the couple of times I had an agent show me a house all they basically did was open the door so I could look around. Why pay an agent for that? I can understand once you start the process of buying and they really work to get you the best deal and make sure you don’t get ripped off then have a payment agreement but not just for opening a door!
Just call the seller or listing broker. They will show you the house. They don't represent you, and I think that's a good thing. The buyer knows where they stand. That's how it used to work years ago.
It’s the devaluation of the dollar nothing more
It is 'BIDE-DEMONIC'
Speaking of immigrants the entire border issue aside. Yes absolutely there are Mexicans who dont speak English or very little, signing loan docs all the time and cannot read any of what they are signing. How can you sign docs you cannot read and understand? Also Lenders have now allowed these same buyers to print as their signature since they cannot write cursive. How they have money to buy a house at all time high prices is odd.
If a buyer’s agent works in their own self interest & benefits from an over listing offer, wouldn’t a flat fee eliminate that. Same commission regardless of final price.
Hi Todd,
Please answer this question. If both buyer and seller agents are required to have a contract and if in the past seller agents were charging 5 to 6%. Why not have a standard rate for both agents that splits the cost 50/50? Then just have in the agreement that the seller side will pay the cost? Isn’t that basically how it worked before? Seller agent would split there commission with the buyer agent?
Why not have a cap on commission for both sides that all together can’t pass six percent, give or take? It sounds like they are making a bigger mess out of this than it should be!
I’m not an agent obviously but I don’t think this should be made so difficult unless buyer and seller agents are both striving for higher commission over all. Example is when in the past commission for selling, was five percent and now seller agent still wants 5% and now buyers agent wants 5% making overall commission 10%.
In most cases the seller agreed to a commission with their listing broker. The seller then authorized the listing broker through a listing agreement to cooperate by paying a portion of their commission to the buyers broker. So yes you are correct with that. The problem with coming up with a standard fee or commission across the board would create price fixing and would violate anti trust laws.
I’ve been thru 9 properties. Had 3 good realtors.
Clearly Todd hasn't seen the episode of "Everybody Hates Chris" where the mom got a credit card and thought that it was free money.
That was my friend in the 80’s …… when she got her bill ……. her mom had to bail her out
😂 I remember that episode.
Well I was looking for a house/investment all over a few states. You have to pick a person in that state.
I think I bought a money pit. Should I had of hired buildings structural engineer?
Well don’t know… what’s the story?
"Wrong timing FOMO" is also how you lose money in the stock market.
Haven't seen your a bit awkward but cool buddy on the show lately 😢
I bet he has a take on the second unliving attempt on a certain person running for a certain office that is important in regards to running things...
More NAR settlement:p
INTERNACHI
The language issue should be non issue. Just upload to chatgpt, done. Use the right tools, stop living in the stone ages
Dear first caller: Never start any conversation/interview/discourse with the words "ohhhh man". The audience immediately understands why you went through so many interviews. Maybe instead: "Good evening Todd, thanks for taking my call, I'd like to get your thoughts on, . ."
Here’s hopes he was just excited to get on air 🎉😅
Me thinketh cackling all the way to the bank., compliments of the hard working American.....taxpayer!@!?😃🤪
Why you are misleading people that the commission on the closing document go to the agent.?Is your goal to sway buyers from using Realtor ?
Ph# to call you?
443-318-4514
Sellers will just learn to cooperate and cover the buyer agent fees.
Or buyer's will learn that they don't need door openers.
@@s99614 🤭
If you are buying a 1.5Million property paying just minimum downpayment, you don't understand nothing about real estate. Nothing. The property of that value today is flat, maybe going a little bit lower. You are paying almost $10,000 taxes, mortgage interest in 30 years will be another 1 million. Where is your brain? Please work with experienced Realtors. Interview at least 5 agents and 5 mortgage brokers to understand numbers.
If you bought far away from the city in 2006, you lost money; if you didn’t buy in 2010s near the city, you lost out and are forever priced out of owning a house!
Maybe learn English if you live here? 🤷🏼♂️
Don't you think they should have to learn English
This channel and Peter Schiff thrive on negativity and doom and gloom when reality is variable. Yes there is risk in anything you do! Buying can be bad and not buying can be very bad too. You have to figure things out for yourself gathering info from different sources!