People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts.

I sold a couple of properties in 2020 and I'm waiting for a house crash to happen so I buy cheap. In the meantime, I've been looking at stocks as an alt. Do you have any idea if it's a good time to buy? I hear people say it's a madhouse and a dead cat bounce right now but on the other hand, I still see and read articles of people pulling over $225k by the week in trades, how come?

Ryan handled this very well….the guy at the end had a bone to pick and was rude. Ryan took the high road. Ryan is a genuine guy.

This was a horrible segment alot of nothing was said lol 😅

The only winners of this ridiculous lawsuit will be the large plaintiff law firms. This will leave veteran buyers, FHA buyers, and most first-time buyers without representation!

Prices will not come down. This will hurt FHA and VA buyers as they will have to pay more money out of pocket as commissions cant be finances. Sellers will pocket more cash when they sell their house!

5:00 i find it quite ironic that a news broadcaster who reads off a teleprompter for a living is underhandedly calling out Serhant for sounding scripty. What a hypocrite. Buddy had his mind made up before Serhant sat on that chair

the listing commission has always been negotiable as far as I understand it

You handled this well Ryan ! A true professional!

Thank you Lord Jesus for the gift of life and blessings to me and my family $14,120.47 weekly profit Our lord Jesus have lifted up my Life!!!🙏❤️❤️

If you read the fine print the only major change is that seller's cannot list a buyers commission in MLS listings, except in the notes section. This DOES NOT prevent sellers from still providing buyer's commissions. What this changes is WHERE they can publish this information and in this case, that can be anywhere but in the MLS listing (minus the notes section). This means broker information outside of the MLS just became as important if not more than the MLS itself.

6% is NOT STANDARD ! Real estate commissions vary a lot depending on state and area you live in, the price point of the home, the condition of the home, the relationship of the agent to the seller, how much money the agents going to have to spend on marketing photos, staging, etc.

This lawsuit settlement is about as clear as one of our vice president speeches and if anybody thinks it’s gonna save anybody money you’re wrong.

Yes, Sir. Fighting for what is American and Right. We have to Love and Respect our Great American Freedom and Precious Hard Work.

Both people interviewing ryan were showing clear signs of hostility towards him, and clearly had a bone to pick. Ryan is genuine and kept his cool. this is why he is the best.

Hey CNBC, how about getting the full clips up there? You keep cutting them

Let’s face it…. In the old days when most homes were valued at under a hundred K the commissions Were doable. The 5-6% total commission on a 2-3million plus house is now absurd especially in a hot market when homes are selling fast. Total compensation should be 1-2%.

JOE ALWAYS THINKS HE'S SO TUFF

Ryan is dancing around the bushes. Like a good real estate agent

You don’t have to pay commission even right now, but good luck selling your home

This is BAD for consumers all around! LESS transparency. MORE steering (now pretty much self-directed by the BUYER, who can't afford to pay their agent), LESS competency in transactions (where the buyers represent THEMSELVES), MORE Veterans unable to afford to buy homes (they are still prohibited from paying commissions), EVEN LESS options for the buyer in an already tight market. This settlement maybe needed to happen to put a stop to the nonsense, but THIS is NOT the right answer! Removing the SELLERS RIGHTS to offer cooperative compensation (which has been negotiable for years) is not creating greater transparency. It's ALREADY a free-market conversation. This is shutting that down and making more of a case-by-case basis than it already was.

If you're going to assert the commission rates have been fixed to 6% then you're going to have to explain how Realtors in the San Francisco Bay Area have been charging sellers commissions between 3% and 5% as well how homeowners have been selling their homes without real estate agents. That sounds a lot like a free market to me. Also, a "Settlement" doesn't equal a guilty verdict.

I’m an Agent and a real estate developer. You can’t sell it by yourself before sites like Zillow hide For Sale By owner from the search. Also buyers agents don’t show homes to buyers unless they know they’re getting 3%. So saying “consumers have always had a choice” it’s complete nonsense

The commissions are not 6%. Commissions is always negotiable.

This is complete nonsense! I've been a Broker for 16 years and people should get more informed. Its not Standard everything is negotiable.Ugh! This is going to hurt Buyers!

Compensation negotiation is always good. Just like attorneys, the good will last and the rest will leave the business. My contractor told me a million times: good work isn't cheap and cheap work isn't good...choose wisely!

Buyers are going to chaff at having to pay a commission and won't want to pay much. Agents won't want the smaller commissions buyers want to offer and those agents will try to move to the listing side where there is a certain commission. Buyers agents will have to create a new business model and implement it, which will be a big mindset change. Buyers agents do the lions share of bringing a transaction to closing too. People who want to buy or sell a home on their own better have the experience, because the consequences of doing it wrong are long-term.

I just think it wont change that much, the buyers broker will call the listing agent, and say hey I got a buyer for your house, is your seller willing to pay me a couple points? Yes done deal.

The main reason to use a brokerage is for liability purposes. They have all the contracts and disclosures

If u don’t pay 5% now none will show your home. Once they black out the buyer agent commission, they can’t subtly black list your house👍

"Using a 'Great' salesperson; 'great' service IS expensive, bad service will cost you a fortune." That's the best quote thus far! I love it. 66,000 left the real estate industry due to the feds interest rate hike from 3% to 8%. We are stabilizing at 6% where the fed now noted two drops this year. I believe they are preparing us for something...at the end, only the real professionals will be left. The real threat are off market property transactions, the buying of selling of real estate without any representation, which is so dangerous. Buyer and seller beware! Now more than ever, you will need to see the service of a real professional, a Realtor. #GotRealEstate

So what did we learn as a result of this conversation? Mind you, im a retired Realtor, i owned my own company for more than 30 years. And you know what, i still dont know what the so called new rule is all about. Commissions have always been negotiable. The 6 percent fee most agents charge isnt what the law requires brokers to charge. And unless you are a member of the Realtors Association, you are not required to cooperate with other real estate agents on your listings.

My BS meter is pegged out Ryan, and lights are starting to flash.

I loved that grill at the end lol

Now let's do Attorney's

THE GUY IS FULL OF IT.

The only place in the WORLD that charges 6%+. A total total rip off. Yes, they need to be paid a fee but 6% is a joke!!!! In the UK it's 1.5-3%. That's much more realistic and fair.

I listened to the entire interview and literally didn’t get any information about what has actually changed. As they said, you already don’t have to pay, you already can negotiate, you already can choose between cheaper and pricier agents - so what’s the new thing?

Very nice - Great Video and information

OK, first off the news is not covering this topic correctly the 6% standard isn’t gone and many ages don’t charge that because it’s always been negotiable . it could be decoupled between the buy and selling side. Sellers can choose to operate like more traditional practices as they are now, or leave it up to the buyers agent to figure it out with their client in an offer or being paid directly from Client. It’s definitely confusing but like with all changes people just have to adapt in the industry or selling their house.

My comment from the Josh Flagg segment the other day: Josh is selling high end homes. There aren't a lot of buyers for those homes. Someone like Josh probably has a book of clients and has relationships with other brokers who have high end clients. So, at the high end a broker may be necessary to find a buyer. In the lower to middle market (let's say up to $2.0MM), broker's are useless. I bought my house 18 years ago. I quickly got rid of my broker because all they did was show me MLS listings which I could do myself. I put a bid in of 2%-3% below ask on a house, representing myself, figuring I have 3% in my pocket with which to negotiate. Selling broker asked why am I bidding below ask. I asked her why the owner and her should get 6% commission when my sides 3% was already built into the asking price. I told her she can have some of the 3% but not to be a pig. Now, it was the selling broker's job to get a deal done. They wanted asking price anyway so I told them to go eff themselves.

They need to do a segment on how this affects Zillow, Redfin, Trulia, etc. The ruling makes a fragmented marketplace even more fragmented. It's a huge opportunity for tech companies.

He (almost) literally called Ryan a used car salesman at the end.

AI will replace agents, especially buyer agents, fees for seller will be 1.5% give it time.

This is going to hurt the economy and unemployment

I can't speak for other agents in other areas, but in California, the seller does not and has NEVER paid the buyers agent commission. The seller agrees to pay the THEIR agent a specific fee for agents services. If their agent finds a buyer, the commission stays the same from the seller. If a buyers agent brings a buyer, the sellers commission stays the same. Nothing changes accept the sellers agent now makes less if a buyers agent brings a buyer. Think of it like a contractor. You hire a contractor to do work on your home. The contractor may or maynot subcontract work on your house in order to get the work done.

News media has no clue.. reporting for big corp

Well, this will keep buyers from using and abusing realtors. In terms of show me everything and then the last minute they go to somebody else, even when they’re under contract. So muddy on the table for them is good for the realtor. Outside of that everybody was working for the seller in the highest price you had no buyer representation, so it really didn’t matter just like in New York, everybody works for the seller. There is no true buyer representation, unless that changed somewhere in recent years. And I think sellers agents being forced to negotiate their prices improve themselves is a good thing. Half of them never deserved their 3% or their 2%. One percent is fine just like your MLO, right? And yes, a lower priced product probably should have higher commission, so negotiable is the excellent idea. This always is a conversational piece when you’re at times like these.

Joe loves only 2 things... the sound of his own voice & watching the value of his crypto_crap_coins fall!

What he isn’t telling you is that his brokerage is located in New York one of the few places not affected by this lawsuit 😂

Been watching Ryan for years…big time realtor

Clear as mud…just how the lawyers like it

So I just watched these reporters try to mock our industry. How would you feel if you wanted to use a benefit you served your life for & couldn’t. 😢 I also feel like the lady cut Ryan off at every chance she could. Anyways, great job Ryan, you were smooth as always & articulated very well despite these haters. Let us decide who we want to be the reporters and give us the 411!!!! Yall would have a fit😂😂😂

This guy sounds like a realtor

You nailed it. Great work lady :)

Commissions have ALWAYS BEEN NEGOTIABLE! Look at a listing agreement- there is a blank to be filled in! The seller can offer any amount, no one decides for them. There is a customary range but always negotiable. A professional buyers agent MORE than EARNS THEIR COMMISSION with the services that they provide. Most buyers would be in trouble without the expertise of their agent who negotiates a winning offer and gets them to the closing table. Sellers benefit also because the transaction closes and they can move on. Sellers are making huge profits already- it is buyers who will suffer from this ruling.

Pretends he hasn’t benefited from that 6% and representing both sides, forever.

There was never a "standard" 6% commission and the fact that he didn't educate her on that is ridiculous.

In real estate, you make your profit when you buy a home... We need a higher level discussion on what that representation looks like and the value it brings in keeping housing affordable and making sure buyers are well-informed to make that life changing investment in real estate.

What about the attorneys who charge 40% plus fees as standard? Isn’t that also antitrust? Maybe we should all be suing the lawyers!

Its market driven commissions based on the various markets throughout the country. Some markets are marketably higher, some are marketably lower. Transparency is good but education would be much better for the consumer anyways.

I like Ryan, but re estate agents get paid way too much

When do we get to sue the ambulance chasing lawyers?

"It's laughable, and with this settlement, they claim they are trying to stop steering!

Ok, to all those who dont believe houses will become more affordable. Lets try a little math equation. If i sell my house and pay a real estate agent $15k less than before and then i take my profits and buy another home. That second home just became $15k more affordable for me. The price doesnt have to be a lower. Im $15k ahead no matter how you look at it. The only people who will lose by lower commissions are the people who sell little white Mercedes suv’s and Designer handbags to overpaid realtors

max is 1% for each buyer and agents. look at other countries. we are overpaying

Open MLS for everyone for greater transparency !!!!

It works in other countries. Commissions are too high here.

Grilled him lol

Buyers will have to Save for a Downpayment 3 to 5% ~ Closing costs 2%~ Agent $$$ Good luck.

Ryan!

Realtors don't do anyhting

Market "commanded" 6% - this guy gets to say that with almost no pushback? Meh -

Neither the buyers agent or the sellers truly represent anyone but THEMSELVES and closing the deal. And for that you get to pay 6%.

The main point of the lawsuit is to eliminate Buyer’s agents steering clients towards the highest commission homes thus creating unfair competition. These analyst folks continue to be clueless

LOWER realtor commissions. Zero-talent people that FOR THE MOST PART contribute nothing meaningful. They just open the front door

Did they do blockbusting?

Wow…the hosts were absolutely filled with vitriol. Everybody hates agents…and all agents secretly hate each other (and most of their clients). I’m a licensed agent. The model is antiquated and decades overdue for reform. That said, anyone who thinks “it’s over” for agents is just ignorant (although many agents may leave the field over this, and they needed to earlier). There will always be a myriad of pathways to wealth through real estate…the market is simply telling us that the model of the current structure is outdated. Ok, the sharp ones will pivot, and make as much, if not more than before. Home prices will absolutely not come down…that is simple supply and demand, no homeowner is going to pass a few thousand saved on to the buyer (why, out of the goodness of their heart…yeah, I’ve seen a lot of evidence for that in the comments here, and in the interview). At the end of the day, this is much ado about nothing.

Please God let these home prices come back down to earth

Sellers dont need to pay buyers agents. Buyer agents are providing 0 service to the seller in todays market. Fee of 6% is ridiculous, especially considering the broker is taking a larger percentage compared to the actual realtor doing the work.

Honestly what value realtors bring?

Ryan chewed up and spit out those awful CNBC anchors. Good job!

Great song and dance by guest. Bottom line here is the swamp was staved, and will drain someday far in the future.

Except that listing agents are now in control. It is no longer a truly free market. The first-time buyer and VA buyer just got screwed!

A buyers will never pay an agent out of their pocket

Well said Ryan! The other guy is just rude and insulting what a jerk.

So, are you saying to let the home buyers buy a home without representation? Most first time buyers, don’t know what they are doing the stress of buying a home will be a burden on them

Ok, so first time homebuyers now need to come up with downpayment and the funds to pay their agent as well. What first time homebuyers really need super cheep agents or no agent at all. That’s going to work well.

Missed the whole point of the lawsuit. Seller was paying buyer fees, which makes no sense.

Buyers now have to pay their agent. This increases overall agent fees and screws the average consumer. Buyers will be less likely to use a broker so sellers and agents win. THIS IS A SCAM

Ryan is not straight here lol ...

Ryan, you handled the guys comments at the end well he was a complete turd with his comments. I would’ve said he could stand to lose about 6% body mass.

This “ruling” will hurt buyers. Buyers will quit using representation because they cannot afford it. People will wing it on their own. It’s gonna get seriously ugly.

It will all settle out in 10 or 20 years. The free market formed what we are leaving. The future is anything but free market but we can all agree its going to be very profitable for someone.

This changes nothing other than FHA and VA buyers will be screwed

Ryan……defending the greedy realtors. 😂😂😂😂

ryan’s argument is flawed because he assumes buyer agent is looking out for buyers Best interest. Everybody knows that never happens. Buyer agent is looking out for buyer agent, as in they just want to close the deal and they don’t give a crap what the buyer buys and how much he pays. Anybody who disagrees has no clue and I’ve never worked in the industry or worked with an agent.

Basically, the MLS will not be allowed to publish the Buyer's commission on The MLS, who also give that data to Online RE sites like Zillow and Redfin, who are Basically discount brokerages and do less work for Less money!? But if a Buyer or Seller, need professional advice or assistance with a real person that will work in their best interests, they will likely rely on a professional Realtor or Broker like me to represent them!

Yeah, but would he have shown his buyers a listing with a one percent commission prior to this lawsuit? Hence the entire point of the lawsuit the collusion that was happening between brokers I can guarantee you that this broker would not show properties to his buyers with very low commissions.

It’ll just be that much harder for first time homebuyers. Bottom line. Also buyer agents need to find new career.