Potential Impact Of NAR Lawsuit On The Villages Fl Sales

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Potential Impact Of NAR Lawsuit On The Villages Fl Sales | Robyn Cavallaro Investigates

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Robyn Cavallaro | Licensed Realtor® Florida

4 ай бұрын

If you have watched the news this past week, you have heard about the commission NAR lawsuit debacle. How will it affect home buying and selling in The Villages, FL? Please tune in to find out my thoughts and opinions.
Robyn Cavallaro
Florida Realty Investments
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Пікірлер: 84

@gardenia1953 4 ай бұрын

Yes you can negotiate commissions but back in the day when I was a realtor and even till this change. If I list a house and the seller is only willing to pay 4% and not 6% agents are not going to show homes that are paying 4% before they show homes paying 6%.

@PaulSchmidt-hy7ht 3 ай бұрын

As a seller I'd my agent told me that 5 people wanted to see your home but they would not look at it because i didn't offer the buyers agent a commission.. That is the agent steering... How would the buyer know if i was offering the buyers agent a commission unless the agent told them i am not getting paid if you buy this home.. STEERING..

@Robyncavallaro 3 ай бұрын

We have to tell them because the buyer would have to pay the commission. Not steering on the realtors part.

@darrellgritten4398 4 ай бұрын

Thank you for your informative video. You are very knowledgeable and articulate.

@Robyncavallaro 4 ай бұрын

Glad it was helpful!

@mialorenzen3538 4 ай бұрын

Great info, as always…I think it will all even out and I do like that everything will be upfront and clear. I’m praying it all goes well for you and all realtors!! Happy (almost) Easter!!! 🐣🎉

@Robyncavallaro 4 ай бұрын

Same to you

@782hrr 4 ай бұрын

Firstly ALL agent put compensation first…as for the future as a seller I am not paying the seller because ITS MY MONEY…I sold in California and 17000 commission is nice but I know the seller was thinking more like 5000 split and now the seller pays 2500. It’s going to be like commercial real estate

@Robyncavallaro 4 ай бұрын

I disagree not ALL realtors put commission first. You can’t lump everyone into one category.

@beingkitschroeder2507 4 ай бұрын

Where I sell real estate, (Ohio) the seller usually pays the listing broker, and the listing broker then pays the Buyer's broker. The commission comes out of "the pot" of $$$ that was paid by the Buyer for the home. So technically, it's been the Buyer who pays, but it's worded in the contracts as the seller. Will buyers now need to show POF in order to pay the commission to their buyer's agent? I imagine this won't be as much of an issue for the Properties of The Villages Sales Agents, as they're not part of the MLS or the NAR.

@Robyncavallaro 4 ай бұрын

They will have the same issues. I believe Sellers will want to negotiate and if they cant they will choose to list in the MLS! Which is better for them in the long run anyway

@nangee2990 4 ай бұрын

I never understood why the seller paid both sides of the transaction when the buyer agent does not represent the sellers interest in any way. Each side should negotiate the commission based on the services they're getting. Sellers need to stick together on this one. Otherwise, what is the purpose in the settlement if nothing changes?

@nangee2990 4 ай бұрын

On the flip side, where in the heck is a buyer going to get the money to pay a buyer agents commission. That's a conundrum. Buyers will steer clear of listings that they're responsible for agents fee. So, you're right. In the end nothing will change.

@Robyncavallaro 4 ай бұрын

Thanks for sharing. I agree it will be just a different way of wording the compensation. I believe if NAR did not MAKE some type of compensation mandatory to have the home in the MLS this case would have never seen the light of day

@kenpeters9807 26 күн бұрын

In NC they have certified BUYER’S AGENTS. GR8 IDEA!

@scott-og6iu 4 ай бұрын

I don't think it will be business as usual. I believe going forward the Seller will only have to pay a percentage to the listing agent and the Buyer will be paying the buyers agent a set fee. I think the days where the buyers agent is making a "percentage" of the selling price are gone. But.... I do think the buyer will be negotiating with the seller to help pay either a part of or the entire buyers agents fee when they go to purchase a property. For example on a $400,000 home, sellers will be more willing to pay let's say $3000 to the buyers agent than handing over 2%($8K) or 3%($12K). Just my take on where I think things will go. Time will tell.

@Robyncavallaro 4 ай бұрын

Thank you for sharing. It will be interesting.

@gadgetgrader 4 ай бұрын

Percentage to listing agent will also be gone or diminished. It will be a rendered services as a fee market flip

@Starfish2145 4 ай бұрын

Those sellers may have a hard time getting buyers agents to show their home 😉

@Robyncavallaro 4 ай бұрын

If they do not offer compensation then yes it may be a challenge@@Starfish2145

@DisMindy5767 4 ай бұрын

As usual, you explained this way better than the other 4 videos I saw. I think you're right about how it will shake out in terms of buyers not being interested in seeing homes that aren't offering compensation unless, it's the million dollar market. This is better for the realtor though. Back in the 80s when I was a Realtor,I took these buyers all over 3 counties looking for a home. Then, behind my back, they went and bought a home on their own and I was out all the time and gas money I spent taking them around.😢

@barbaraebner5889 4 ай бұрын

Robyn, are any of your buyers concerned about the homeowners insurance? Do you have contacts for potential insurance brokers?

@Robyncavallaro 4 ай бұрын

I do. Email me I can send a list of my contractors

@johnkatrich2954 4 ай бұрын

You explained it well. It seems like all sellers have to do is figure out the cost of paying the buyers commission side when they are setting the price of their home and carry-on as usual which lets them advertise that they have that covered for buyers. Right?

@Robyncavallaro 4 ай бұрын

Agreed, business as usual but communicated in a new way!

@jeffreynelson2946 4 ай бұрын

The other potential is if the seller is paying compensation - will this compensation be considered a seller concession. Could be an issue if the buyer is also looking for closing cost assistance,

@Robyncavallaro 4 ай бұрын

For those who are having a problem qualifying or coming up with a downpayment will have a challenge if the seller does not offer compensation.

@martyg1717 4 ай бұрын

You say commissions can be negotiated I sold a house 2 years ago talk to five different agents from five different companies none of them would negotiate the selling percentage you may say it's negotiable but it really is not and 5 to 6 in today's market is way overpriced

@Robyncavallaro 4 ай бұрын

They are but your agents were not.

@commonsense6967 4 ай бұрын

I've sold several homes and could never get any agents to compromise on their "set" commission of 6% either.

@cindyg6407 4 ай бұрын

Will you now be able to represent the buyer in a vls sale?

@Robyncavallaro 4 ай бұрын

I always have been able to represent you in a VLS sale. Since they do not offer compensation you would have to pay for my professional service. I'd love to help

@commonsense6967 4 ай бұрын

So would the seller still need to pay $500 to get the property listed in the MLS if the seller also agreed to pay a buyers' commission? Or would that do away with having to pay a MLS listing fee, also?

@Robyncavallaro 4 ай бұрын

I have no idea what you mean by only paying $500 to list in the MLS

@thomascarrolljr.5015 4 ай бұрын

Buyers Agent is the Employee of the Buyer, Sellers agent is the employee of the Seller. Simple. If you go thru my home today, you wont care weather or not what agent is getting compensated. Yes RE agents have bills to pay and of course they should be compensated BUT if I were a buyer and missed out on a Great house because my buyers agent held it back, she'd (or he) be fired. Thats just wrong. Some risk there for sure. There's risk in every business.

@Robyncavallaro 4 ай бұрын

You are not correct we are not an employee of the buyer or seller. We can represent them in the transaction but we are not employed by them. There are good and bad real estate professionals, some really work for their customer and some only care about themselves. Find a professional that cares about you.

@johnmckenna8763 4 ай бұрын

Sold my home on long island 27 years ago if listing agent sold house fee was 4% if another agent sold home 3% for the listing agent and 3% for the buyers agent

@Robyncavallaro 4 ай бұрын

everything was, and still is negotiable

@johnmckenna8763 4 ай бұрын

@@Robyncavallaro Seemed to be the prevailing rate at the time 27 years ago Did not know it was negotiable Do you think 4 to 6 percent is fair based on you experience as a realtor And a very knowledgeable and competent one I might add

@PaulSchmidt-hy7ht 3 ай бұрын

Your comment is steering.. If I like a home that is not offering to pay your commission then I have to pay you. No I think people will go look at homes for sale without using a realtor... Being a veteran I would use a VA loan..

@Robyncavallaro 3 ай бұрын

And you were entitled to do that. If you don’t want representation, you can go directly to the seller agent. But I would have to let you know if the seller is not paying compensation because you would be responsible to pay my fee to represent you and the real estate transaction

@Pete-rs4yz 4 ай бұрын

I think buyer's agents will have a place in The Villages because so many prospective buyers are out of state and need boots on the ground. From listings to purchasing to financing to attorney referrals there are many services one can provide.

@Robyncavallaro 4 ай бұрын

agreed. Thanks for watching

@noreenn6976 4 ай бұрын

Seems like it is going to get a bit confusing for the buyer

@Robyncavallaro 4 ай бұрын

Yes until we find a new normal

@kjisnot 4 ай бұрын

I have seen what appears to be large realtors not taking potential buyers to homes being sold by small brokers regardless of commission. To me it looks like they were driving buyers to select homes with other large brokers, sort of a gentlemen's agreement. Homes in the same market, similar build and pricing but not listed with a major broker were evidently being starved out of sales or at least making life harder for them. Sometimes a listing might mention a 2% commission but often was a common 2.5 or 3% split. But that apparently wasn't the issue. The big buys don't seem to like competition from the small guys. The elephant in the room is the seller and buyers are not getting the service they are paying for.

@auroranite 4 ай бұрын

Robyn what is an approximate set Buyer’s fee the realtor would expect? My feeling is the Seller not Buyer should incur this fee if they want their house sold. Tks

@Robyncavallaro 4 ай бұрын

Nothing is “set” I'm certain each realtor well has their own fee structure

@brendaberisha2634 4 ай бұрын

I paid a buyers commission on the home i currently live in (Richmond, VA). I was renting it and looking for a place to buy when the landlord decided to sell my home. Since i was already using an agent, and the landlord would not pay my agent, my agent and i decided on a commission for her. The commission I paid was rolled into the mortgage. Do you have to pay a commission to The Villages agents if you buy a new build? Thanks Robyn. Very informative as always😊

@PederE007 4 ай бұрын

This lawsuit is stupid. It was brought on by Realtors. In my opinion, I think Realtors are stupid. I am a Broker in Arizona, about eight years ago NAR came out with a form for Sellers to sign about co-commission. I went to my local board and complained. I said, "Are you proud to say you're too stupid to handle the co-commission. This was the start of this downfall. Let us face it, nothing is illegal. Contract Law is contract law. In the end, the Buyer can tell the Realtor to go to hell.

@Robyncavallaro 4 ай бұрын

Well as a Broker the Realtors make you money.

@Livefreeordi 4 ай бұрын

I see more people going back to for sale by owner. We sold all our homes this way and left a buyer and seller agent out of the equation with no headaches. I know the service you offer is valuable and would use you.

@Robyncavallaro 4 ай бұрын

Thank you!

@bjs1130 4 ай бұрын

Robyn, YOU said it best! Take care of the Customer and let everything fall into place! Advice: You may want to put a Dollar Amount as Consideration on the Buyer/Agent Agreement in order to solidify it even more! In other words....Even a Dollar as a Down Payment will make the Contract even more rock solid! If I was a Buyer, I would put down a nice chunk in order to show you I am for real! Allow your Buyers to do that if they want to! Keep up the Positivity!!

@Robyncavallaro 4 ай бұрын

Thanks for sharing

@rickpacheco8864 4 ай бұрын

Hi Robyn, I have been watching your channel for quite some time now and find your content enjoyable. I am a Realtor up here in Massachusetts not far from Boston for over 20 years. I have also been following this NAR lawsuit since the beginning. This is not a question however just a statement. From what I understand the settlement says that a Realtor can’t double dip with the new law, assuming it is passed by the court. So I see many problems with the new changers about to take place. If an agent isn’t allowed to double dip, let’s say you are the listing broker and you have ( You’re Buyer ) who wants to buy your listing, how do they expect you to move forward if you are not allowed to double dip and you have an agreement with the owner for a reduced commission because the seller doesn’t want to compensate a buyers agent. So I guess maybe this is a question lol. I don’t have all the answers either, but this is going to be very interesting moving forward. I also want to state that I feel the NAR has let down all of its members who have made them soooooo much money over the years. On another note, my wife and I have been to the villages quite a few times and we just love it, I want to move there however, my problem is getting my wife to pull the trigger, you know with the grandkids, and just a few months ago a great grandson. I’m sure you understand. But you never know you just might be getting a call from me someday, and no, I’m not paying a buyer’s agent fee lol. Keep up the good work.

@Robyncavallaro 4 ай бұрын

Thanks for watching and sharing.

@beckyforbis4858 4 ай бұрын

Is that negotiated prior to listing the house if you’re a seller and is that agreement with the agent as a buyer before you even look at a house?

@Robyncavallaro 4 ай бұрын

We will be required to have Buyer Agency agreements when showing homes to prospective buyers. There will be a fee agreed upon if, in the event, the seller DOES NOT offer compensation then the buyer will be responsible. That fee will be written into the contract like adding furniture and will appear on your settlement statement.

@BX_Staff-Home 4 ай бұрын

0% to be negotiated. That is where its going. Realtors have robbed for too long.

@Robyncavallaro 4 ай бұрын

I disagree but you are entitled to your opinion. Thanks for sharing

@americanrvtraveler2446 4 ай бұрын

What happened to seller and buyer's agent splitting the commission? Maybe this should be same in the auto industry. There are more buyers of vehicles who feel the got a bum deal after the sale than are happy.

@Robyncavallaro 4 ай бұрын

In essence that is what we do now. What I don't understand about the case is if the Seller agrees to pay listing agent 5% commission why does it matter if they give half of it to the buyers agent?

@fierceflyer5 4 ай бұрын

This whole buyers paying an agent is crazy. I’ve been buying & selling real estate for 40 years in the northeast. Never paid a “fee” as a buyer & as a seller if another agent showed my property my agent split the commission. How do you think this will affect the villages agents?

@Robyncavallaro 4 ай бұрын

I think they will be in the same situation. Sellers may or maynot want to offer compensation. It will not have an affect on their new home sales just the pre-owned.

@doc5106 4 ай бұрын

So what is fair fee for seller and buyer

@Robyncavallaro 4 ай бұрын

That is a discussion yiu will need to have with your Realtor

@davidjohn4326 4 ай бұрын

AI will eventually eliminate the need for human element in real-estate. In the future a application with a bundle of services will prescreen potential buyers, get home certified and inspected, link up mortgage brokers, legal service, AI app will negotiate through invisible 3rd party , and with social scores on their way ..Free up a lot of relators to find other career interests.

@chrisjohnson6765 4 ай бұрын

Probably not in general. People will always want to be represented by human interest and look for a benefit in that relationship with such a large asset and its impact. The impact of a competent agent can affect individual transactions to the benefit of their client…differentiation is where the value is. How do you do that in AI…by paying a higher amount for special consideration? AI in its present form is generally just a placeholder for the ability to manipulate databases in practical life…we’ve had that to some extent for many decades. The expectations of LLMs to replace human behavior in complex and creative circumstances are mostly theoretical and are definitely based on business models that require many billions in R and D, which will demand returns and consequently recoverable transaction costs.

@Robyncavallaro 4 ай бұрын

Evey see Terminator? The machines are taking over ;)

@davidoverholt251 4 ай бұрын

What type of commission is required in Florida, for seller? for buyer? or any difference?

@johncooksey79 4 ай бұрын

No required commision amount.

@Robyncavallaro 4 ай бұрын

No commission is "required" you can decide how much you want to pay.

@CryptoVin 4 ай бұрын

Or don’t hire a realtor if you’re buying a house.

@Robyncavallaro 4 ай бұрын

That is your option. Good luck.

@kerilotta5421 4 ай бұрын

Im confused. If i pay you 2 per cent and they also pay you. How does that work you make 4 plus pet cent ?

@Robyncavallaro 4 ай бұрын

if the seller is paying the listing agent 2%, they’re not paying the buyers agent as well. The buyers agent would pay their own realtor.

@edwardharris4330 2 ай бұрын

Promo`SM 🤔

@ld45678 4 ай бұрын

Robyn - you are whistling past the graveyard. Very, very few people will say "ok, I'll cut you a check"... It's not happening and the reason is your brothers and sisters for decades said "it's free!" and went on to provide a terrible service experience. Buyers will drop your contract in a second if they find the house they want. Watch....

@Robyncavallaro 4 ай бұрын

That can happen but many buyers here in The Villages still are making the purchase from a distance. You want someone on your side during that process.