Landmark real estate ruling may lead to lower home prices in California
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2023-12-14に共有
Read more: cbsloc.al/41m6NZ0
コメント (21)
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Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
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The reality is that bay area real estate is grotesquely overpriced. The realtors may have to clean up their act, but it won't help much.
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The problem is that real estate agents/brokers don't let sellers know that the commission is negotiable. Agents just draft up a listing agreement at 5% (on the average in the Bay Area) and sellers pay it because they don't realize they have a choice
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This has been going on forever. Finally these crooks are getting called out.
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It's total BS. Commissions have always always been negotiable
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This reporting is stupid. It never talked about how real estate agents inflated their fees. Also, the seller is the one paying for that fee. Also when I'm buying or selling a house I don't want the extra step of negotiating a fee. It should be a percentage therefore the real estate agent would be more motivated to get the best price rather than to close.
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Hey Nick, why don't you talk about the mortgage lenders who raise interest rates on the back-end of the deals so they can make secret commissions at the expense of buyers. Why isn't anyone doing anything about that?? Real estate commission is a 1 time thing, but buyers are stuck with higher rates than they're qualified for for 30 years. Tools.
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Here's how I'd look at it as a buyer. With a commission being paid by one party (seller), your agent (buyer's agent) has no incentive to negotiate a lower price on behalf of you because he'll receive a higher commission with a higher sale price! If that wasn't the case, I could hire a broker to negotiate for me to buy a house and pay him more if he gets me a lower price! The price I pay and his commission could be inversely proportional.
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If anyone thinks that lower commissions are going to lower the cost of housing anywhere, they are fools. NO WHERE in history has that ever happened.
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This is nothing more than a discount broker who probably line item charges you the exact amount or more selling his business model. Everyone who's purchased a house at least in the state of California knows how hard agents work for that commission. Also we project both buyers and sellers from future litigation and costly unforseen or undisclosed repairs.
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About time!
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I am a real estate broker and you can always discuss commission but I recommend everyone gets a real estate license if you are buying or at least read about what you are doing along side with knowing about your mortgage. the real issue in the market you want to fix to save money is REITs because that's why you can't compete as a buyer anymore.
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Total BS. I’ve bought & sold MANY houses & you can already negotiate commission. I’ve done it for years. And discounting a $15k commission on a $1 million dollar house isn’t going to move the home buying needle
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Sure, just like how lawyers like to work for free on these lawsuits.
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I think the investors who are buying houses "as is" and paying cash are putting pressure on the industry.
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5% ain't gonna "make American dreams happen."
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what about the $200k fee city's are charging to get a permit to build a house?
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Doubt any new laws will lower home prices
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The sellers will just keep their prices higher 😂😂😂 Everyone thinks RE is easy, just ask Zillow how that worked out 😅
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What was the law suit for??? How is that 6% commission really divided???How is Missouri law different from California???WTF was this report all about???
