Home buying is about to change

A recent settlement leads to questions about who pays for what at closing.

[Impozalla]

I laugh when real estate agents say that "commissions are always negotiable." I tried to sell my home at 1% commission. The real estate agent steered potential buyers away from my house because the commission was too low. The realest agent flat out told me that. But when I offered a 3% commission, suddenly I was inundated with home buyers. So the "commission is always negotiable" spiel is just crap.

[avrahamavraham]

I don’t trust any of these six people that were interviewed none of them

[NicholasBall]

I sold a couple 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., 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 weeks in trades, how come?

[anthonymartinez]

Don’t worry you won’t be able to sell anything soon.

[mattp]

Sell you home by yourself. Have a lawyer draw up a contract.

[lawrencedyke]

It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.

[kortyEdna]

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. 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. Pretty sure I'm not alone in my chain of thoughts.

[KumaVerse]

These realtors are out of touch from real home buyers and sellers

[realamerican]

The next question will be .. what exactly do we need a realtors for?..in theory an online system could do the same thing cheaper.. unfortunately

[stevenjackson]

Sounds like 6 biased opinionated realtors

[royrojas]

Why are real estate agents even necessary? They literally dont do anything.

[thelucasstorm]

Could this group fit the stereotype any better?

[joelcleare]

6% commission was okay when homes were half the price. Home are double and realtors still make the same %.

[gingerjones]

You don't need a real estate agent, you don't need a real estate attorney. All of the contracts are standard and you can download them all from several places online. All you need is the title company. That's it.

[Myamores]

I sold my house without a real estate agent. No issues and will do it again!

[adam]

They should be paid hourly like everyone else

[jerrycampbell-utyf]

I've been watching the housing market closely, Prices have been skyrocketing for years. It's going to be tough for first-time buyers to enter the market." how can one diversify $280k reserve .

[mixflip]

Its crazy how much open land Las Vegas has yet they build the houses "nut to butt" as they say.

[GetOffTheLawn]

I got scammed by a local Vegas agent and my wife and I are filing bankruptcy 4 years later after a local agent who was touted as an "out of state relocation expert" sold us a house that needed 100's of thousands of dollars in repairs. We were buying from out of state and were prevented from doing a walk though due to " Las Vegas covid rules" it was 2020. Among other things we had no hot water for 4 months and had to re pipe the entire house. Oh yeah and new electrical. Oh yeah and even thought the inspector stated" best roof ive seen in a long time" which we have on a video inspection. Yeah roof is bad. Heating system. Broken. Had to be replaced. House cost 820, 000. Worth about 4. Complete money pit. Doors kick off hinges. We were given no keys. Had to change all the locks immediately. Crazy. Agent stopped taking our calls after the sale. Lawyers told us we had an air tight case for a huge law suit however we needed 100 grand as a retainer and it would take up to 5 years. I'm a disabled Vet and this is what our country has become. Real estate agents are the scum of the Earth. There is no safe guards or help for buyers when they get screwed. Sad.

[goodspx]

6 real estate agents and obviously their opinions are not going to be skewed. If things were so rosy looking for them they wouldn’t be sitting up there reassuring themselves. Looks like a Alcoholics Anonymous meeting.