Licensed Real Estate Broker Tony Mattar discusses how realtor commissions could change after legal s

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WGN News

3 ай бұрын

The nation's largest association of realtors is about to change the way Americans buy and sell homes.

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@CameronFussner 2 ай бұрын

The fact that there is already an excessive amount of demand awaiting its absorption, despite how everyone is frightened and calling the crash, is another reason why it is less likely to occur that way. 2008 saw no one, at least not the broad public, making this forecast, as I'll explain below. The ownership rate was noted to have peaked in 2004 in the other comment. Having previously peaked in the second quarter of 2020, we are currently at the median level. Between 2008 and 2012, it dropped by 3%, and by the second quarter of 2020, it had dropped from 68 to 65.

@leojack9090 2 ай бұрын

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@hasede-lg9hj 2 ай бұрын

You're not doing anything wrong; the problem is that you don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.

@hasede-lg9hj 2 ай бұрын

I won't pretend to know everything, though. Her name is Amber Angelyn O'malley but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.

@fadhshf 2 ай бұрын

Amber profile appears to be fairly knowledgeable, therefore I must say that I value the advice. After locating her online, I thoroughly read through her resume, educational background, and qualifications, and I must say that they were quite impressive. We have set up a meeting after she replied to my message.

@taffyalusa4642 3 ай бұрын

Finally, bs, always been 6% in Florida, listing agent always tells you you won't attract buyers agents if you offer less. Maybe negotiate 5% but the primadonna realtors won't budget. I know a realtor sold a 10.5 million house in 24 hrs, her 3% = $300k, that's ridiculous.

@honeztearthling987 3 ай бұрын

I had a situation where my realtor simply came in and signed in at model home followed by leaving. I did all the negotations with the builder literally all day long. He got to pocket free money for no reason. There should be no reason realtors should get so much money commision because the hikes in house prices, that 6% is simple nuts.

@RealEstateIsDead 3 ай бұрын

Well with this new law in place it will weed out the lazy buyer agents who do nothing good for the industry. They need to update the licensing requirements in all states as well like they did with MLO's in 2010.

@GenXamerica 3 ай бұрын

The builders were paying your agent a finders fee essentially. Most times that’s far less than 6%. You could have gone to the model home without your agent and cut him out of the deal. Chances are the funds paid to him came out of the builders marketing budget anyway. The builder would not have discounted you if you had no agent. Sorry you had a bad experience, but you had a choice to take him or not to the model home. Had he shown you other homes? Maybe a new home was best choice for you if you did not like anything else readily available.

@nickpaleo6033 3 ай бұрын

Sellers never paid the commissions, the money comes from the buyers in order to buy the house and from that money both commissions are paid. It was all rolled into the deal but in the end where is the money coming from? The buyers loan or if they paid cash. Buyers were always paying the commission, it just didn’t seem that way. Also 6% was never set in stone it was always negotiable. In Illinois 6% almost never happens, so many agents do listing at 1 to 2.5%. Listing agents taking 3 % is not common at all.

@CenturyPaintingCharlotte 3 ай бұрын

Here in Charlotte, NC. it's very different. It's like a monopoly mostly at 6% ..

@wendysun6087 24 күн бұрын

How a single seller negotiate a group of realtors? Based on your logic, the seller's negotiate power is zero. This is a typical situation of monopoly.

@joshhoward1289 3 ай бұрын

Sellers are going to be less inclined to negotiate or lower prices. And buyers are going to be more inclined to try and do it themselves which will lead to mistakes.

@conservativewarrior777 3 ай бұрын

Heading to Florida once I retire!

@SouthChicago-sn5ex 3 ай бұрын

Florida is getting more crowded. Home prices, taxes, and insurance are climbing. Florida isn't what it used to be. /s/ Retired 9165.

@NM-js8ky 3 ай бұрын

Monopoly is a monopoly and we’ve been ripped off for years. People with six weeks training and a hospital education can take tens of thousands of dollars for very little work sometimes and that’s just not fair. At least high house prices they are still getting the same commission rate they did30 years ago. It’s unfair and thank goodness for this settlement.

@florawomack 3 ай бұрын

*The corruption that runs through this administration is getting more scary. I feel for people with disabilities not getting the help they deserved. Anyone who is not investing now is missing a tremendous opportunity. Imagine investing $2000 and receiving $11,300 in 4days.*

@Kemyale 3 ай бұрын

How can we generate more revenue during quantitative times? I can't afford to see my savings crumble to dust.

@florawomack 3 ай бұрын

I think Yetta Cox strategy is the best at the moment, I recommend it for beginners because it is perfect for now and it is known.

@AndrewGNiki 3 ай бұрын

I am grateful to her. though I started with as low as $1,500 actually because it was my first time and it was successful she's a great personality in the state..

@titinmartini9982 3 ай бұрын

I'm also one of the beneficiaries of Yetta Cox. Relying upon this administration is nothing but a total waste of time. So happy I gave it a trial after being skeptical of the process.

@user-pt3id3xx1f 3 ай бұрын

Wow! Interesting infomercial you have here. Did you pay all these yahoos who have replied. What a scam.

@go818win 3 ай бұрын

That 6% is parted between themselves. Reverting to what commission was should stay. Wouldn't disregard the exploit the agents, builders, and lenders are colluding … plus disproportionate local government taxes that exacerbate hardship to homeownership.

@GenXamerica 3 ай бұрын

NAR does not “mandate” anything. They control the MLS access and own the copyright on the word “realtor”. Agents have to pay thousands to belong. Otherwise brokers dictate how negotiable their agents can be with commissions. It’s always been this way. Hopefully sellers and buyers shop agents instead of working with the first one they meet and do whatever because they are emotional about the anticipated transaction. Agents are going to have to be a lot better communicators and service people. The rest will get out of the business and that will be good for everyone.

@peterbedford2610 3 ай бұрын

Commissions have always been negotiatable. Most people are just clueless. Like so many consumers. Now there will just be more ppwk in the sales contract to "protect" the seller.

@davidmotyka2708 3 ай бұрын

Salespeople are less important than the product.

@victornewman06 2 ай бұрын

Lawyers to sellers: You do know that Realtors are getting richer with higher priced homes and it leads to higher commissions for them. Wanna join this class action suit? *Settlement hits $418M* Lawyers to sellers: Thanks guys. Here’s $200 *Lawyers get over $300M*

@luisreviews6412 3 ай бұрын

This is the best video by a news station genuinely seeking answers to what this settlement means.

@Rainbow_colors_ 3 ай бұрын

Homeowners at home buyers are finally gonna be in charge. Commission will be reduced to flat rates and that’s about it. Bye-bye crazy commissions.

@allenbeltran4696 3 ай бұрын

That was always an option.

@volcrazy89 3 ай бұрын

That was always an option. If you don't want to pay an agent do the work yourself and do FSBO

@palace927 3 ай бұрын

@@allenbeltran4696 MLS required a commission so you are lying like a typical agent.

@sing10278 3 ай бұрын

It was an option but never really was an option.

@joelballard4955 3 ай бұрын

Actually what is going to happen is if a person chooses to use a buyers agent, they will agree to pay that buyers agent a set fee that has nothing to do with the price of the house. If you choose to use a sellers agent it will be the same thing, you will pay them a fee that has nothing to do with the price of the house. I use a buyers agent sometimes, I will be making them sign a contract that will incentivize them to negotiate the price of the property down. I will pay a buyers agent $1000 for every $10,000 they negotiate the price down. If they get $50,000 off the listing, then I will pay them $5000.

@skip686 3 ай бұрын

Monopoly has been broken, good news.

@davidmanning6321 3 ай бұрын

Now we get to do all this with no help from anyone

@MH_6160 3 ай бұрын

Not true, you can still hire an agent.. you can hire an inspector/ contractor to look at the property, you can hire an attorney to review your documents. Nothing will ever stop that… @@davidmanning6321

@GenXamerica 3 ай бұрын

Monopoly? 😂 there never has been one except for NAR owning the word “Realtor”.

@SouthChicago-sn5ex 3 ай бұрын

Staples and Office Depot have all the forms you need to buy or sell a house.

@StevenChou1984 3 ай бұрын

Does not impact transparency for buyers, just for buyers agents. This dude is being disingenuous

@eliot5220 3 ай бұрын

Finally I get to keep more of my money from the greedy agents

@GenXamerica 3 ай бұрын

You always could. Talk to more agents. Problem solved.

@eliot5220 3 ай бұрын

@@GenXamericaActually nobody needs an agent really. Instead of of talking to more agents if I want to save money I could just not use on at all. Problem solved. I’m doing them a favor by letting them participate in my deal.