How Corporations Are Increasing Homebuying Costs
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- Опубліковано 5 лип 2024
- As we head into a world where buyers may be paying their Realtors commissions it is critical they have full transparency on WHO they are paying. Let's dig into this BRUTAL TRUTH
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Timestamps:
0:00 - The Brutal Truth for Home Buyers
0:06 - Impact of NAR Lawsuit on Buyers
0:28 - Understanding the Buyer Agreement
0:45 - Real Estate Agent Commission Breakdown
1:00 - Hidden Costs from Referral Websites
2:00 - Transparency Issues in Real Estate
2:56 - New Buyer Commission Responsibilities
3:50 - Mega Corporations and Commission Fees
4:46 - Selecting a Real Estate Agent Independently
6:18 - Researching Real Estate Agents
6:50 - Negotiating Buyer Agreements
7:20 - Recommendations and Final Thoughts
8:08 - Questions? Call me at 707-478-0637 or Book the Calendar!
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One way to avoid buyer/seller commissions is when people cut out the real estate agents entirely and buy directly from the owner.
This MAY exacerbate both sellers and buyers to NOT purchase due to funding from both parties cuts both ways.😔
great content thanks
Hope you are well!:)
I like the new 60fps frame rate
This is actually my old camera. So I’m glad you like it. My new camera that’s supposed to be higher definition and so Amazing overheats pretty easily so I went old school for a little bit out of frustration.
I found out about the bank's cut while working with a realtor.
Its good your Realtor told you. I am surprised it was a bank. Generally, it is a big tech company or mortgage company also so many "financial gurus" as well offering to set you up with their "Trusted Realtor." Yeah, trusted because they get a cut
I agree that it’s a great idea to do your own homework and find your own buyers agent. If you want to talk about saving money and about big corporations making a lot of money off homebuyers let me post two examples.
Suppose that the seller “pays “the buyers agent $10,000. Well, that is really being built into the cost of the house because the buyer is paying the seller to buy the house. The $10,000 is being financed for 30 years. let’s say at 7% interest so that $10,000 is going to the buyers agent it’s actually costing $24,120 over life of a 30 year mortgage assuming a 7% interest rate and if you were to take that extra $14,120 and put it in investments at 5% it would be worth $61,025. so by allowing the seller to pay the buyers agent rather than paying it upfront yourself, you are not only costing the additional 14,120 but you are losing $46,905 that you would earn on that additional interest you paid to the mortgage company. I realize he’s calculations don’t exactly take into account amortization, but you get the idea.
I actually think that making buyers know and pay the buyers agent cost upfront will actually save money in the long run for homebuyers, and they will still be able to get the very valuable services that I personally have experience from the buyer’s agent.
@JenniferBeeston I need to correct myself - it was a big credit union.
OK, that makes more sense and I think I know who you are talking about;)
Why am I addicted to this channel, and she can't even help me (RI) 😭
Tyler, there are 48 states where I can help you. So many states near Rhode Island.
If you’re dedicated to an RI life, I have a good friend that will help you who’s awesome as well. I always got your back.
@@JenniferBeeston Oh, I will definitely be reaching out when I start looking in another New England state 😀
They wouldn't tell us, because nobody asks. Fuck the smaller guy and "take care" of the guys/gals that rake in mindless consumers.
Well, here’s the great news. This is a channel dedicated to answering questions that no one ever asked.
@@JenniferBeeston your videos speak for themselves. Appreciate all you do for us!