Biden admin going after realtors!

[Anonymous]

Why do we resign just and accept that it can't be changed. It needs to change.

[Anonymous]

https://nypost.com/2023/10/17/real-estate-brokers-pocketing-hefty-fees-my-face-antitrust-probe/amp/

Some firms already settled and are disassociating from NAR. It’s time for a change.

[Anonymous]

https://www.reuters.com/legal/litigation/us-home-sellers-class-action-over-buyer-commissions-heads-trial-2023-10-17/

[Anonymous]

I think buyers should pay. I used a flat fee listing service and had dozens of offers the first weekend. So many wanted me to pay 3% to their realtors because their realtors had been showing them lots of houses and had been working with them for a while. I’m not sure why that’s the sellers fault?

My favorite transaction involved no realtors. The buyer and I hired a real estate lawyer who drafted everything.

I think realtor fees need to be separated out of housing prices. Why do they get included in housing prices but other things aren’t?

[Anonymous]

Anonymous wrote:I think buyers should pay. I used a flat fee listing service and had dozens of offers the first weekend. So many wanted me to pay 3% to their realtors because their realtors had been showing them lots of houses and had been working with them for a while. I’m not sure why that’s the sellers fault?

My favorite transaction involved no realtors. The buyer and I hired a real estate lawyer who drafted everything.

I think realtor fees need to be separated out of housing prices. Why do they get included in housing prices but other things aren’t?

What fees aren't included on the HUD1? It should be all there.

Maybe not your decorating costs. But everything else will be.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Realtor lobby is very strong, consumers need to unite.

There’s really nothing to unite against.

The NAR cartel. You unite against the NAR cartel.

[Anonymous]

You don't need a realtor. We were first time home buyers who bought without a realtor. It's an increasingly anachronistic job. Will go the way of chimneysweeps.

[Anonymous]

Anonymous wrote:You don't need a realtor. We were first time home buyers who bought without a realtor. It's an increasingly anachronistic job. Will go the way of chimneysweeps.

Let's hope! The egos of realtors are insane.

[Anonymous]

Anonymous wrote:Why do we resign just and accept that it can't be changed. It needs to change.

Do it however you want to do it. I use Redfin but still want an agent. Some people find other solutions that work for them. There is no monopoly here. You can make other choices.

[Anonymous]

Anonymous wrote:I'm sure there are great realtors out there, but in my personal experience they have been terrible and do not earn the fee.

But the industry lobby will never let this change, similar to CPA/tax preparers with simplifying tax returns and insurers/medical providers with healthcare reform.

When we bought our house in a very hot market we had a really great agent. He was responsive, got us in to see homes asap, stuck with us through multiple bidding wars, helped us write a competitive offer including setting up a walking pre-inspection, and was just basically great through the whole thing. And he gave us a 1% rebate. The realtors who know the market, have good customer service skills, and don’t price themselves into oblivion will continue to do well I think.

I’ve heard some horror stories about do nothing agents and getting their 3% half of the fees is just stupid.

[Anonymous]

Realtor is a trademarked term referring to a specific organization, one that promotes anticompetitive monopoly practices.

A Real Estate Agent doesn't need to be a Realtor. Redfin joined in 2017 and quit in 2023.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why do we resign just and accept that it can't be changed. It needs to change.

Do it however you want to do it. I use Redfin but still want an agent. Some people find other solutions that work for them. There is no monopoly here. You can make other choices.

Read the linked articles to understand your mistake.

[Anonymous]

Anonymous wrote:

Anonymous wrote:link? clown

Can’t use tech yourself? Predictable.

Realtors are an inappropriate tax on the American Dream.

Your illiteracy is showing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why do we resign just and accept that it can't be changed. It needs to change.

Do it however you want to do it. I use Redfin but still want an agent. Some people find other solutions that work for them. There is no monopoly here. You can make other choices.

Read the linked articles to understand your mistake.

I’m actually an antitrust lawyer and I turned down a very similar case due to the lack of solid footing for the theory. HTH

[Anonymous]

Anonymous wrote:

Anonymous wrote:Realtor lobby is very strong, consumers need to unite.

There’s really nothing to unite against.

This angst about how agents are paid doesn’t see the forest for the trees in terms of costs associated with real estate transactions. They’re marginal, not material.

A $50K fee on a $1M sale is substantial, not at all marginal.