Will the NAR Settlement Impact Housing?

Bravo 🎉

Thanks Steve!

Fighting 8.5% inflation (more like 35%) with a 1% Fed funds interest rate is like stopping a forest fire with a bucket of water. Folks prepare accordingly. Make investment with Mrs.Valerie Ann Clayton. in other not to depend on the government for fund

Thank you for the great information.♥

Thanks for the encouraging words for the Real Estate industry.

Nice summary, Steven

Good points here. I cannot believe the amount of smack that the public has been saying about this NAR settlement. People who are not even selling real estate are talking down to agents, saying that they get paid too much for doing nothing. Or saying that now sellers don't need to spend money to listing etc. It's unbelievable and ridiculous. It's like saying you are going to not use a mechanic and fix your own car. Buyers and sellers are going to need us even more now if you ask me.

This is a very good summary from a more global perspective!

Always on point!

Well said, Steven. I concur. Pros will win.

Fantastic words on the NAR settlement Steven!

This is the best synopsis I’ve heard so far. Thank you.

Steve

Due to no Buyer Broker Compensation being able to be posted on the MLS starting July tentatively

Do you see Listing Agent commission being cut in half from lets say 5% pre settlement to 2.5% as the Listing Agent no longer has to pay Buyer Broker. Listing Agent compensation does not change. Listing Agent still gets his or her 2.5%

Either Buyer will compensate Buyer Broker or Seller may provide a credit to Buyer Broker up to 2.5% but Seller cost will not be higher than it is today at 5%

Additionally, don't you think the settlement will lead to more double ending by Listing Brokers.
I feel savvy Buyers will go direct to Listing Brokers who can for a marginal amount or nothing represent the Buyer.
Listing Agent secures and sells Listing

Sellers cost is 2.5% half of what it is today
On a two million dollar Listing that's a savings of $50,0000 to the Seller

Buyer do not have to come out of pocket for representation
Listing Agents represents Buyer for minimal or no cost but still makes 2.5 % from the Listing. On a two million dollar listing that's $50,000

Buyer Broker gets wiped out.

Why would a savvy Buyer pay a Buyer Broker 2.5% on a two million dollar transaction that's $50,000 when he or she can go direct to a Listing Agent who represents the Buyer at zero cost.

How realistic is this scenario in your mind?

I have been following you pre Pandemic 2020

Thank you

Robert

Thank you for championing Realtors and all of what our job entails. We will survive!