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This is unreal by this agency. Could you imagine if agents said this?
WILD!
How does this benefit consumers? I have not seen one story tell me how it does.
Here is the State of Play Ricky.
We used to have equivalent of Pre-Paid vacation Cruises – where Seller ledger paid Buyer Coop. Based on Seller motivation Buyer Agents may receive more or less.
The New Rules:
Now we have Pay On Boarding your Cruise. The Buyer needs to consider what they are going to pay based on Buyer Agency value to them.
The workload has not changed for the Transactions.
That CFA ex-soert putz is overpaid – at minimum wage.
Keep up the great work.
thanks brother!!
I bet they can’t say the same thing for attorneys, doctors, plumbers, electricians… This non-sense article should be ignored.
😂
My auto insurance is up 53% this year. Care to comment Consumer Federation of America? I shopped around and apparently ALL insurance companies are colluding. In my state, insurance is required. Where is this watchdog group for insurance!!! Real estate is being unfairly targeted.
💯 & home insurance too
What’s crazy is I signed 4 buyers this week who asked, “Don’t I have to sign that agreement with you? Well, what’s your fee?…Oh so you will try to negotiate with the seller’s broker? That’s a good thing?”
I’m glad There doing this I’m going straight to the listing agent and negotiating 3% extra off .. the seller is excepting this cause it so bad for sellers In TEXAs house on the market 105 days
Listing agent isnt doing your leg work for free. Youre either paying them to babysit processes (but not represent you) or youll need to hire a buyer agent
@@Keepswimmingkeepswimming go take a cheap real estate license course you’ll get all your paperwork info in order as long as you do that you can save yourself 12k
@@gregorybob LOL is that all the work you think of Buyer requires? I’ve been in real estate for over a decade and my entire family is in development, brokerage and sales, and I still use a buyers agent and a listing agent on my personal transactions out of my market. As a listing agent I’m not showing / managing a buyer through process for the commission ive agreed to solely manage the list side.
In markets where self representation is allowed and buyer self represents the failure rate of deals is north 70%.
A buyer literally managing themselves through a deal w no guidance management by a licensed agent is a liability to the listing agent and the seller depending on the law in that state.
In the states, where its allowed you can hire an attorney and pay them for them to draft an initial offer / contract for you but there’s no guarantee that the listing agent is going to want to manage you unless their being compensated by the seller (same as past) or now seller or buyer for their time communicating and managing you
Also, it’s a huge liability I would not want to take my home off the market for a offer from a buyer that will have literally no oversight who could easily bundle the deal and then I’ve gotta put it back on the market when the deal falls through 👎
LOSE LOSE
@@gregorybobgive it a shot and let us know how it goes. There is a lot more involved than just paperwork. When something goes wrong on the sale, the knowledge, skills and experience of a seasoned buyer’s agent can save a sale & a buyers deposit. You could stand to lose a deposit if you fail to meet a term in a contract. How about a more complicated sale where a seller or buyer wants a pre or post occupancy or offer contingent on the sale of another property. I’m working on one now where my client is the first sale that has to happen for 2 more contingent sales after it. The other 2 offers would not have been accepted if an amateur was handling the initial sale that the other 2 are dependent on. I’ve been doing this a long time and I will say, the general public is pretty clueless about the complexity of a real estate transaction and how to resolve issues when they arise. A good, experienced agent makes it look easy.
I honestly think we should all start taking retainers, charging by the hour and refuse to work on commissions going forward.
THIS
Yes! I agree 100%
No way. Then the client thinks they own you. No thanks
@markcarter4373 what? You clearly would be in a position of power to dictate the relationship once they already paid you instead of being controlled like a dog when we only get paid at closing and they make ridiculous demands of us.
F THIS
I’m just sittin’ here on the Rainbow River in FL listing to you. Ty Ricky. Lots of great angles to get deals done. Idk why everyone is so focused on what might happen. Why are folks so worried about what might happen? Just go to work figure it out as you must.
Fixing commissions
Buyer agent should negotiate the seller first before they ask buyer to pay their commission. Its called negotiation on buyeragent part. If you can’t do that for your buyer, that means you don’t deserve to get paid.
Someone needs to ask how this “watchdog” is funded. Who is behind it? 🤔
DOJ and Lawyers, Lawyers are running everything
This is literally insane that the agency is saying this.
I thought it is meant to be an agreement between the buyer and the seller before settling the agent
The agent’s commission should be based on their performance and results.
I think the agent’s commission should be negotiable, depending on the specific circumstances
Exactly! The commission should be strictly performance based and also negotiable.
Although as a buyer, I’m willing to agree to 2% if it means getting the property I want
Is this a joke?!
They don’t take into account that we agents are consumers too, especially of other services that help us to get our job DONE for our clients. 🙄
Exactly now if they are ok with me netting 2% per the CFA I’m actually ok with that, they don’t have any idea what it costs to operate.
Why don’t they ask Lawyers to set flat fee? 🤷♂️
In order to have a seat at the table to share your opinion on the value a Realtor brings, you must sell real estate for a minimum of two years. Otherwise, you have absolutely no idea how difficult it is to make a 24 year career out of it. This will be the biggest backfire we’ve ever seen. Give it a year. Meanwhile, enjoy the mayhem and lawsuits coming as laymen run out to “learn” how to buy and sell on their own.
I’ll drop my commission to 2% when they drop my total taxes (income, sales, property, etc..) to 2% because I don’t feel like I’m getting the value for what I’m paying. 😂