NAR Lawsuit Impact: What Home Buyers Need to Know (UPDATED)

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Timestamps:
0:00 - Introduction: Update on Buyer Agreements
0:16 - Impact of the NAR Lawsuit on Buyers
0:31 - Seller's Role in Paying Buyer's Agent Commission
0:55 - Changes in Commission Payment and Buyer Agreements
1:17 - Buyer’s Responsibility to Pay Commission
1:34 - Variation in Agent Commission Rates
1:56 - Flat Rate Services and Hidden Costs
2:30 - Issues with Time-Limited Agreements
3:17 - Importance of Finding a Good Negotiator
4:00 - Negotiating Agent Commission with the Seller
5:50 - Conversations to Have with Your Agent
6:50 - Final Thoughts and Importance of Research
7:30 Questions? Call me at 707-478-0637 or Book the Calendar!

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[LittleCabin]

When we bought our last house 7 years ago, "I" was the one finding properties to look at -- I only needed the realtor to help out with the "process" and the paperwork, so I would definitely want to negotiate down for that.

[johnniejacobs]

This is one reason I'm glad I was able to find a small house within my budget before this took effect. I had one agent that told me he could get me a house in the area I wanted if I went up $50-75k. When I said I didn't want to do that. He actually recommended I take it out of my retirement. I couldn't believe it. I never called him again.

[damon-burton]

NAR lawsuit impact is crucial for homebuyers. Your insights on buyer agreements and negotiation are gold. Finding a skilled negotiator is essential in this changing market. Thanks for clarifying this complex issue

[ftrdrvr]

Yeah i was interviewing agents and upfront made it clear im not coming out of pocket at all. This is commission for them its a 30 year loan for me ill lose them before i go broke.

[Ed_Okin]

Very helpful discussion. Thank you.

I noticed a couple of comments that look like they are spamming investment products with some fake comments and replies so I reported them. It really distracts your excellent content and the relevant comments.

[jose]

I see this NARA lawsuit as a good thing, its a blank slate now as a buyer we have the full control and can tell our Realtor hey are you willing to take this much for your services?? Whereas before the lawsuit most real estate agents would just collect a set fee like 4 or 5% and expect the seller to pay up. This is total transparency and will lead to more competition among the real estate agents...if they charge too much we move on to another agent I will shop for my agent just like my insurance.

[fsgglxp]

I am now in the process of selling and buying .. thank you for this info..
I appreciate your time …😎

[gzvvnlb]

If you are dealing with two agents/brokers who can't figure this situation out you need a different broker/ agent. It is a simple situation with a simple solution. If someone has a combative attitude, find someone else to do business with. Easy. And do it before finding the property as if the wrong agent finds the right home there is something call "procuring cause" You don't want to go there.

[sandycalame]

"Free money pot of magic" haha! Such an important topic to cover!

[MrHendrix]

The seller never paid the buyers agent, the listing agent/company paid the buyers agent from the total commission being charged to the seller.

[aaronanderson]

Can't wait to work with this team!!

[MrHendrix]

The DOJ doesn't have a clue on how the real estate business works

[oliveb]

Another great guidance as always . Thank you🌺🌷

[rondorazio]

Ok, it's best to find a buyers agent who will negotiate with the seller. But what if you sign an agreement saying you'll pay 3% (or whatever) to the buyers agent but the seller refuses to pay anything, which they are entitled to do? Then you're stuck paying the buyers agent 3%, right? That's $12, 000 on a $400, 000 home!

[TheHeavenTraveller]

The buyers agent can still be paid by the seller as long as mutually agreed by both seller and buyer. If the buyer agent is not paid, there is no purchase periods. NAR lawsuit doesn’t cause much. NAR lawsuit is the most stupid thing that happened in the US history.

[JohnBowl]

"Don't get stung...Go with Jennifer Beesting for your real estate needs!"

[marcusjolly]

To me, buyers have some leverage just by simply being transparent about what they can or will pay the agent.

[Derekparker-hlsz]

*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*

[rltnuhp]

Where do I find an agent who does va home loans? We want to use you as a lender. However, we have no idea where to find a buyers agent.

[sidneyjohnson]

Hi great video, I'm an agent here in Nevada nad now that this is officially in effect I am getting all sorts of statements from all over the place. I did review the new contracts but Can you just clarify, that if say you get the BBA signed you then Show buyer 8 homes, the contract says with The example you used, they pay $4400 Within 90 days.... they don't find a and you can somewhat tell they aren't being serious and just dragging their feet, you're saying If they do not go into contract and a successful transaction occurs, the buyers are still required to they pay that $4400 comission to agent? And if that is the case how are the agents going to be able to enforce this if they do not pay it, would the agent solely be responsible to litigate on their own?