The housing crisis we can solve right now

Homeownership is supposed to be the American dream but it’s turned into a nightmare. Sky-high mortgage rates, home prices and agent commissions have gotten out of hand.

Buyers and sellers don't have control over interest rates or the market but there is one thing they can control: how they pay their real estate agents. Bloomberg Opinion's Nir Kaissar outlines a whole new approach to buying a home that doesn't take advantage of home buyers.

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[GeorgeWScott]

Excellent analysis, but what the real estate industry really needs is an a la carte system. I've sold 2 homes over the years. I don't need the full services of a seller's agent. I should be able to enlist an agent for only those services I need. Similarly, a buyer might be able to find prospective homes online but need the services of a buyer's agent to negotiate price, arrange inspections, and prepare the paperwork. The agents should be paid for the specific services they perform (like you pay for the menu items you want at a restaurant). An a la carte system would work better for buyers, sellers, and agents.

[waleskaanez]

This is a cute explanation for the public, but this is not how the industry works. And it is also in the best interest of the seller (the party selling the home) to *pay* to get his home sold…😅 Buyers today have very little skin in the game with current rates and market prices, and now add commissions to their plate..😅

[ElizabethCampbell-cy]

Because and it doesn’t make sense to pay a real estate agent by the hour, because they work way more hours behind the scenes actually securing the deal it’s nonsensical maybe in a town like Bloomberg is located Manhattan it makes sense maybe you’re not schlepping people here and there and everywhere but in larger rural communities where you are driving hundreds of miles to help people find a home none of this makes sense.

[ElizabethCampbell-cy]

What this guy fails to say is that sellers pay the buyer agent fee? This is Clickbait.

[gus]

Easily the most thoughtful take on this since the Court ruled! Wish it could go this way, doubt it will! 🫤 Still, great to a hear of a reasonable path forward (should a miracle of common sense occur)! 😎✌️