NAR Real Estate Commission Lawsuit: You Will NEVER Sell Or Buy Real Estate The Same Way Again!

Рет қаралды 4,913

Күн бұрын

The Bombshell US Real Estate Commission Lawsuit (Sitzer / Burnett lawsuit) will change the US real estate landscape forever. What you need to know as a real estate seller and buyer. How to win in today's market. Ask the listing and buyer agent the right questions. Will the housing market crash because of this? I very much doubt it but this lawsuit is likely changing a 100-year-old approach forever.
00:00 - Introduction
00:56 - The Sitzer / Burnett Lawsuit
02:52 - How Did It Get Started?
03:46 - The Verdict
04:34 - Now What?
06:02 - Is This The Future?
07:25 - What Should Buyers Do?
07:51 - What Should Sellers Do?
08:34 - What About Real Estate Agents?
09:215 - Will Prices Go Down?
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Пікірлер: 41

@kal7049 6 ай бұрын

A 6% commission, split between a Buyer Broker and a Listing Broker, made sense when the homes cost $50,000. Not at today’s sale prices. It should be a flat fee at this point. Realtors don’t do any more work for a more expensive house.

@GHE2005 6 ай бұрын

Never a good thing to force the buyer & hv no choices plus unfair prices. Again our world has gone crazy & too greedy. And thank u for being transparent and keeping us buyer informed. 🙏🏽

@bigstickful 6 ай бұрын

Real estate sales and buying will change forever. Thats a good thing!

@dreyes8948 6 ай бұрын

I hope those changes are for good and not to make more difficult the acquisition of a property for lot people. Let's cross fingers that is not a mess

@dkay4304 6 ай бұрын

Good about time things changed..shouldnt cost so much to list and sell a house

@iamGrowing 6 ай бұрын

Good. Why should I be paying 100k to a realtor when all they do is hire a photographer and just post up the listing. After that they’re mostly useless if you’re a seller. It should be a flat fee, the 100k that I’d be paying a brokerage should be about 5-10k max.

@jimshoe402 6 ай бұрын

Untrue I had One Good one out of 11 closing. But he went under in 2008 had 40 re people too..😁😁

@katrintherealestateguide 6 ай бұрын

Sellers have an option to go with a discount broker or list FSBO. Not as easy as you believe.

@jimshoe402 6 ай бұрын

@@katrintherealestateguide Right what Fool will Show or Sell a no Profit house but 5% will work.But u get 6% I Tink..😁😁😁

@iamGrowing 6 ай бұрын

@@katrintherealestateguide I agree that it’s not easy to sell a house but I also disagree that a broker should be taking 5-6% of a home’s value.

@kal7049 6 ай бұрын

Buyers Agents won’t bring potential Buyers to a house for sale if there isn’t some commission in it for them.

@cindyonyoutube 6 ай бұрын

Thank you for covering this very important issue. We intend to buy in FL within the next 18 months, so this is potentially a big deal for us.

@katrintherealestateguide 6 ай бұрын

Hi Cindy, thank you for watching. It likely will be.

@jimshoe402 6 ай бұрын

IF u don't use her get an Opinion from Her $$$.. She's Down Under so Liston But ur in-charge.🤑🤑🤑

@Da-King-of-Swing 6 ай бұрын

Will sellers who sold there houses in those affected states using one of those agencies be getting claim payout of some sort? I sold my house in September 2021 in Illinois using ReMax.

@katrintherealestateguide 6 ай бұрын

Contact a lawyer.

@MM-ig2zq 6 ай бұрын

List your house with a full service broker only pay 3%. Make it clear you will not pay buyer’s agent commission. Listing agents get the listing then do nothing. 100 year model of scamming people. Nowadays you don’t really need realtors.

@katrintherealestateguide 6 ай бұрын

If you believe the listing agent does nothing than do a FSBO. Nothing prevents you to go that route. Or go with a discount 1% real estate agent, but you et what you pay for.

@Eileen49654 6 ай бұрын

What can I do right now? Im set to close on my house im selling Remax told me I cant negotiate the buyers broker fee, that I have to pay it Along will my remax realtor fee. 6% of the sale Plus remax is charging me another fee of 395. Just because im using the remax name I have to pay 17,000 to realtors and a fee to remax in less than 15 days

@katrintherealestateguide 6 ай бұрын

Your best bet would be to speak to a lawyer.

@kal7049 6 ай бұрын

Did your listing contract state 6% is broke down as 3% to Listing Broker and 3% to Buyer’s Broker?

@markbaum9615 6 ай бұрын

Prediction.....the new businesses model will be seller's pay agents...buyers will either pay an independent consultant or wing it...either way..companies like exactly real estate will become more prevalent...agents simply won't have inventive as the commission based sale will be replaced by a sliding scale percentage based compensation

@katrintherealestateguide 6 ай бұрын

let's see

@michaelrubin2240 6 ай бұрын

👍

@Richard-qx8jk 6 ай бұрын

This has been a scam against sellers for 100 years now! Sellers should not have to pay for the buyers agent! If buyers want to use an agent, they should pay their commission. On top of that, it is true that the listing agent rarely, if ever, actually sells the house, and they do little more than simply listing the property in the MLS. They are paid too much to do so little. This is a big victory for sellers!

@katrintherealestateguide 6 ай бұрын

Sellers have always had the option to go with a discount broker or FSBO. Most don't, I wonder why? :) Also, remember, most will buy AND sell in their lifetime. A few times over. Let's see where this is all headed.

@irinab7524 6 ай бұрын

@@katrintherealestateguideI’m a real estate broker in Ohio, however, when I list my own houses on MLS, I prefer to work with a selling agent rather than buyers who call on my listing. Houses are being sold by buyer’s agents, not just sell themselves.

@katrintherealestateguide 6 ай бұрын

Thank you for sharing Irina@@irinab7524

@jimshoe402 6 ай бұрын

@@irinab7524 Correct U don't get Sued too.😁😁😁

@Bob-in4eh 6 ай бұрын

I will try and sell myself in strong market . It has always made zero sense to me to 5% , so let’s say 20k to sell a 400k house . 20k ? Crazy there not curing cancer and don’t have 5K in overhead to make the sale . Bout time . If I use realtor I won’t pay a buyers agent 2 cents .

@squigglove 6 ай бұрын

I was an agent from 2019-2020. The business itself is a sham. I spent over $5k promoting myself (NOT including gas & mileage) made back $266! It's all work & no pay. Now I'm a hairdresser, it's instant ROI, and I'm loving it. I hope to be moving to FL next year!

@katrintherealestateguide 6 ай бұрын

Glad you are happy doing what you do.

@juniorcrandall8933 6 ай бұрын

I love it. An experienced seller and real estate sales person are going to chew up and spit out novice buyers. The buyer will probably be in breach of contract within 2 weeks. Whamo had to pay a fine or lost deposit. Can't close on contract date. Whamo we keep the buyers deposit. And the list goes on. Buyers are struggling, and now have to pay real estate attorneys. Yes changes are on the horizon.

@katrintherealestateguide 6 ай бұрын

That's about right.

@kyoung5600 6 ай бұрын

Don't need any goddamn middle person and i did sold my house in CA for a very good price, i am not kidding folks!

@DevylsAdvocut 6 ай бұрын

RE agents are an absolute joke. Talk about doing nothing really, just massage dumbass wealthy people mostly and try to get listings. Let’s face it, actually selling the home really isn’t much work, it’s getting the listing that’s tough with all the agents out there and such. Most states have standard sales contracts that have been modified over time to avoid lawsuits. In a way though, at least many agents won’t waste time with buyers and not getting paid for it.

@jimshoe402 6 ай бұрын

I'm a Deal Maker On the Job-site or in RE . You need to Close the Deal or Everyone gets NUTTHING most can't do a Deal..🤑🤑

@katrintherealestateguide 6 ай бұрын

FSBO has always been an option, or discount agents. There is a reason why most won't choose to go that route.