Anonymous
06/09/2024 14:58
Subject: Are there many people waiting to list houses in July?
This will be a good culling of bad buyers agents.
Anonymous
06/09/2024 14:54
Subject: Are there many people waiting to list houses in July?
Sorry — I am the immediate PP but was not the person who wrote the original post about this. Just wanted to clarify.
Anonymous
06/09/2024 14:53
Subject: Are there many people waiting to list houses in July?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:This thread is a really good illustration of the fact that some people are very aware of the recent major settlement impacting real estate commissions (starting in July) and other people seem to have no idea.
We bought a house in April because it was the perfect house for us and we won the bidding war. We listed our previous house for sale in May once we were fully moved out and it will close next week. This will be our forever home and checks all our boxes, so I wasn’t going to let it slip by based on saving a few thousand dollars.
It's more than a few thousand dollars.... Take a typical $1M family house around DC, we are talking about tens of thousands.
Still, you moved because you needed/wanted to. Those of us who are planning to sell in the next year or two are watching carefully as it does represent significant $ in potential savings.
Say you sell your $1M house now with a $25K buyer agent commission, but sell it for $1M in a year or two with no commission, you are saving $25K. I supposed for your sort that seems like "significant" savings.
Is the foregone $25k a “significant loss” to the buyer’s agent? If so, then you can understand why it is a significant savings for me.
If it isn’t a significant loss for the buyer’s agent, then everybody’s happy.
Anonymous
06/09/2024 14:32
Subject: Are there many people waiting to list houses in July?
Anonymous wrote:Anonymous wrote:Anonymous wrote:This thread is a really good illustration of the fact that some people are very aware of the recent major settlement impacting real estate commissions (starting in July) and other people seem to have no idea.
+1 I live in a Chicago suburb and no one here talks about it. As I mentioned on a previous thread, I asked a realtor friend about it and she says the 2.5% split will not change.
Won’t change? What do you mean? As a seller, you do not need to pay the buyers agent; period.
You never had to pay a buyer's agent.
Anonymous
06/09/2024 07:53
Subject: Are there many people waiting to list houses in July?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:This thread is a really good illustration of the fact that some people are very aware of the recent major settlement impacting real estate commissions (starting in July) and other people seem to have no idea.
We bought a house in April because it was the perfect house for us and we won the bidding war. We listed our previous house for sale in May once we were fully moved out and it will close next week. This will be our forever home and checks all our boxes, so I wasn’t going to let it slip by based on saving a few thousand dollars.
It's more than a few thousand dollars.... Take a typical $1M family house around DC, we are talking about tens of thousands.
Still, you moved because you needed/wanted to. Those of us who are planning to sell in the next year or two are watching carefully as it does represent significant $ in potential savings.
Say you sell your $1M house now with a $25K buyer agent commission, but sell it for $1M in a year or two with no commission, you are saving $25K. I supposed for your sort that seems like "significant" savings.
Yes, Marie Antoinette, 25k is significant savings. I can buy a decent used car for that, for example. Or put 25k into the S&P and watch it grow. Or take the whole family on a nice vacation in Europe for a few weeks. Or a small bathroom remodel. There's a lot you can do with 25k.
Anonymous
06/08/2024 22:38
Subject: Are there many people waiting to list houses in July?
Anonymous wrote:Anonymous wrote:Anonymous wrote:This thread is a really good illustration of the fact that some people are very aware of the recent major settlement impacting real estate commissions (starting in July) and other people seem to have no idea.
We bought a house in April because it was the perfect house for us and we won the bidding war. We listed our previous house for sale in May once we were fully moved out and it will close next week. This will be our forever home and checks all our boxes, so I wasn’t going to let it slip by based on saving a few thousand dollars.
It's more than a few thousand dollars.... Take a typical $1M family house around DC, we are talking about tens of thousands.
Still, you moved because you needed/wanted to. Those of us who are planning to sell in the next year or two are watching carefully as it does represent significant $ in potential savings.
Say you sell your $1M house now with a $25K buyer agent commission, but sell it for $1M in a year or two with no commission, you are saving $25K. I supposed for your sort that seems like "significant" savings.
Anonymous
06/08/2024 22:13
Subject: Are there many people waiting to list houses in July?
Anonymous wrote:Anonymous wrote:This thread is a really good illustration of the fact that some people are very aware of the recent major settlement impacting real estate commissions (starting in July) and other people seem to have no idea.
+1 I live in a Chicago suburb and no one here talks about it. As I mentioned on a previous thread, I asked a realtor friend about it and she says the 2.5% split will not change.
There are a lot of delusional realtors out there.
Anonymous
06/08/2024 19:50
Subject: Are there many people waiting to list houses in July?
Anonymous wrote:Anonymous wrote:This thread is a really good illustration of the fact that some people are very aware of the recent major settlement impacting real estate commissions (starting in July) and other people seem to have no idea.
+1 I live in a Chicago suburb and no one here talks about it. As I mentioned on a previous thread, I asked a realtor friend about it and she says the 2.5% split will not change.
Won’t change? What do you mean? As a seller, you do not need to pay the buyers agent; period.
Anonymous
06/08/2024 17:57
Subject: Are there many people waiting to list houses in July?
Anonymous wrote:Anonymous wrote:This thread is a really good illustration of the fact that some people are very aware of the recent major settlement impacting real estate commissions (starting in July) and other people seem to have no idea.
+1 I live in a Chicago suburb and no one here talks about it. As I mentioned on a previous thread, I asked a realtor friend about it and she says the 2.5% split will not change.
Why would people be talking about real estate agents fees if they aren't selling/buying a house? It's a minor news story if you aren't in the business or in the middle.of a transaction.
Anonymous
06/08/2024 15:44
Subject: Are there many people waiting to list houses in July?
Anonymous wrote:This thread is a really good illustration of the fact that some people are very aware of the recent major settlement impacting real estate commissions (starting in July) and other people seem to have no idea.
+1 I live in a Chicago suburb and no one here talks about it. As I mentioned on a previous thread, I asked a realtor friend about it and she says the 2.5% split will not change.
Anonymous
06/08/2024 15:23
Subject: Re:Are there many people waiting to list houses in July?
I'm not following this reasoning, but the neighborhoods I follow in upper NW seem to have a bunch of listings this week and last. Like competitive areas in CP/ Tenleytown/ CCDC/ AU Park. More so that last year - but could just be backed up sellers who have been trying to wait for lower rates and just can't anymore.