100'S of THOUSANDS of Real Estate Agents GOING BROKE!

The NAR just reset $418 million lawsuit that will prevent all future buyers agent commission offerings on the MLS starting the middle of July 2024. How will this impact the housing market and the economy?

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Articles Mentioned in the Video

#realestate #housingmarket #homeprices #housingmarketcrash

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[bobwright-]

The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people—at least in California, where I currently reside—are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!

[fredkraus]

I built million dollar homes, the agent left the closing table with more money than me sometimes

[RetiKingKnight]

Commission - for either buyers or sellers agents - should be a flat fee. NOT A PERCENTAGE of the selling price. Houses went from 300K to 600K - ok, but why should a seller’s agent now make twice as much money on the sale? The amount of work they do is not a linear function of the price of the house, period.

[bentravelstv]

I am also a licensed Realtor and I have to say the corruption, the lazy Realtors, the scheming that goes on behind the scenes is sickening. I always listed homes at 4%, giving 2% to me the selling agent and 2% to the buyer, to give the homeowner more money back. Realtors would call me and scream at me for the 2%, they would say im not showing your listing, you are a disgrace, you should never list this low. And realtors would refuse or deter buyers from looking at the home, they would make up stuff about the area, cancel appointments, say that too many offers were in on it etc. etc. so much corruption behind the scenes.

[tracyh]

I'm in Florida and have been looking at homes, Everytime I look the listing agent goes on and on how they could be a transaction agent since I'm currently looking by myself. I've tried a few times talking with them and they are so lazy, they expect me to tell them what listings, drive to the listing myself, show myself around the area, and they just basically want to show up at the end when I know I want to put an offer in. Pathetic

[masminor]

There are Waaaay many REALTORS doing far little work.

[luke_Boston-MA]

Closing costs are insane ! Property taxes are insane ! House prices are insane! And those who control HOA’s are nuts ! Housing is a necessity, not a luxury!

[tacomafan]

As a residential appraiser, I deal with agents all the time. It is mind boggling to me how many agents are completely clueless.

[JamesBrown-hsyz]

You shouldn't get $60K for selling a house which happens routinely here in CA. Out of control.

[tatianastarcic]

I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?

[breadnaut]

The horror. Hundreds of thousands of soccer Moms will be out of a "job".

[jaywalk]

Long overdue, I managed up to 80 realtors at my last office, the average realtor sells four homes per year, so 30 grand take home, many are side hustles or bored house wives that don't need the money. Interesting if the bottom 80% have to drop out.

[Cooper]

if I was buying a house, I already know I do not need a realtor, just a closing lawyer.

[DVargo]

I’m an agent since 2006 and I despise most of them.

[Hannahbenowitz]

In 2007, I witnessed firsthand the housing market bubble. Many people were buying new homes from builders with the intention of flipping them for a quick profit. However, the market crashed rapidly, and many of these homes were foreclosed upon, still wrapped in builder's plastic

[slacker_DIY]

NAR wants to bury this issue fast and get the spotlight off their shady non-conpetitive practices.

[xro]

That’s what they get for RIPPING everybody OFF

[mach]

I'm 68-years old and I have never met a real estate agent that truly knew anything and had my best interest first.

[Idahoprepper]

I have bought 4 homes and sold three and have never paid a dime to a real estate agent. stop paying money to these people, It’s easy to do it yourself.

[EileenK-pmck]

I bought a house with no agent. The Title company went over everything with me. I paid for an inspection. I found the house on my own. I didn't need a buyer's agent. I read a book on how to buy a house.