In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
My CFA ’Melissa Terri Swayne’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
We follow you and others quite a bit. This video is great. Thanks for encouraging your fellow agents. The truth is definitely hard to find anywhere!! We travel to AL beaches pretty often for vaca. We are in North GA if you need to refer anyone.
Yeah ,hang your hat on this guy's star.A shouting, bouncing,desperate buzz-phraser. He rode the gravy train like all the rest.Now the the commission/disclosure may finally have reasonable oversight...& he's now a coach.He's going to leave the million dollar stuff to the rest of you.Be convinced of it by a so-called motivational influence expander.As he shouts at you.
Starts off on a fear-based media rant. The image for this video: look of fear with fire everywhere. 😂😂😂. I listened for a while and he said nothing except “people will buy houses by myriads” and just used the phrase “expand your influence“ instead of networking . Also equated the impact of Zillow, Amazon, and iPhones on agents with an anti-trust lawsuit. This guy is a caricature cf a life coach throwing out buzzwords and euphemisms.
As a newer agent (2021) I just started tracking the lawsuit in August 2023. At this point, I’m curious as to why taking Buyers agent commission out of MLS is part of the settlement? Is it because agents were steering their buyers based on how much compensation they could potentially get? I’m just curious what the thought process is here. I’m retired from 20+ years in the medical field and got into real estate as a second career so I guess I didn’t have that mentality to steer transactions towards benefitting me more or not even share/show properties. Also why is NAR being held accountable for individual broker/agent actions and how they personally run their “self-employed” entrepreneurial business? I’m just asking honest questions as to how and why the industry got here to this point of major lawsuits.
Rickey what do you think about this? Wang vs. NAR Attracts the FTC’s Attention The Lawsuit is filed by a buyer and isn’t covered under NAR’s latest settlement
Just came across your video - you make some excellent points. I believe you are glossing over major themes. 1. The public at large was uneducated on the real estate process as a whole (this is just how its done) - now disclosure of compensation is negotiable & not a requirement. 2. Economics/competition will put pressure on sell side commissions (mandatory in place sell side agreements will allow property owners to opt out buy side compensation) this is the whole basis of the lawsuit making it illogical to assume prior buy side compensation will go back. 3. It will be much harder to conduct business from the buy side with buyer compensation field being eliminated from MLS. (a purging of brokers can be expected) & that side has never paid a commission & will resist. 4. Getting buyside clients to sign the required agreement that has to explicitly outline compensation - no open-ended wording is allowed (your pre-show agreement will not be compliant) is going to be extremely challenging to brokers, especially new ones. 5. Buyers will seek homes from listing agents/agencies direct - paying (2) fees for (1) transaction will be a thing of the past in time. 6. Listing agents will be unwilling/can't compensate the buy side because it commission compression as you articulated.
And don’t forget to be thankful for all your wins things take time they sure do I just remembered that I kept calling one of my clients she’s my groomers mom and a year later I finally have an appointment to see her to sell a four Plex worth over 1.2 million and I’m so excited and I literally forgot to say thank you Lordso yes, we always have to be thankful for all our blessings no matter how small or big
Compensation has always been negotiable. People are taking this waaay out of context. This just means you have to have a killer buyer presentation to show your value, and present your professional fee. It also depends on where you live. In my state the listing agents are all mostly on code and know they need to explain to their sellers the value of offering something to the buyers agents. It’s really up to them to offer something and they might legally have to with VA loans. It’s also up to buyers agents to step up and show their value. I don’t think it’s going to be as serious as people think.
No, I cannot handle 100 listings right now. It’s tough to juggle listings. And yes they do take time it is a process. I’ve never had a listing that said yup cell right now let’s sign and sell. I haven’t had that luck yet. I specialize in probate, which take even longer, but I am planting my seeds when I do speak to canceled and expired listings, you say I’m here to be of service
It’s because of the survival aspect of human nature. The old animal version of ourselves had to focus on threats for survival. Those threats were negative as it relates to living therefore our gut instinct is to pay attention to it so we don’t die. That’s why. It’s hard to understand because it’s been engrained into our existence for thousands of years. A gut feeling type thing. Words are not easy to come by for the explanation for many.
Contact people in our database let them know who I am, what I do, and let them know we are here to help and expand our influence and grow our database pay it forward! Like that!
In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Mind if I ask you recommend this particular professional you use their service? i have quite a lot of marketing problems.
My CFA ’Melissa Terri Swayne’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I just looked up Melissa online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals.
There will be changes but there is plenty of opportunity. Just adjust and get better.
The worst part is that people don't click and read. They take the headline as gospel
We follow you and others quite a bit. This video is great. Thanks for encouraging your fellow agents. The truth is definitely hard to find anywhere!!
We travel to AL beaches pretty often for vaca. We are in North GA if you need to refer anyone.
Yeah ,hang your hat on this guy's star.A shouting, bouncing,desperate buzz-phraser. He rode the gravy train like all the rest.Now the the commission/disclosure may finally have reasonable oversight...& he's now a coach.He's going to leave the million dollar stuff to the rest of you.Be convinced of it by a so-called motivational influence expander.As he shouts at you.
We still talking about this 😅
Starts off on a fear-based media rant. The image for this video: look of fear with fire everywhere. 😂😂😂. I listened for a while and he said nothing except “people will buy houses by myriads” and just used the phrase “expand your influence“ instead of networking . Also equated the impact of Zillow, Amazon, and iPhones on agents with an anti-trust lawsuit. This guy is a caricature cf a life coach throwing out buzzwords and euphemisms.
Glad you got a ton of value and thanks fie watching
What has changed is public perception.
It’s because the Ego loves to obsess over negativity
I love you Ricky you are awesome. You always inspire me. Never fails thank you. God bless you. Happy Easter to you and your family
As a newer agent (2021) I just started tracking the lawsuit in August 2023. At this point, I’m curious as to why taking Buyers agent commission out of MLS is part of the settlement? Is it because agents were steering their buyers based on how much compensation they could potentially get? I’m just curious what the thought process is here. I’m retired from 20+ years in the medical field and got into real estate as a second career so I guess I didn’t have that mentality to steer transactions towards benefitting me more or not even share/show properties. Also why is NAR being held accountable for individual broker/agent actions and how they personally run their “self-employed” entrepreneurial business? I’m just asking honest questions as to how and why the industry got here to this point of major lawsuits.
Rickey what do you think about this?
Wang vs. NAR Attracts the FTC’s Attention
The Lawsuit is filed by a buyer and isn’t covered under NAR’s latest settlement
The collusion is the fact that a seller cant list on the MLS without a commission to the buyers agent.
Right...had to be $1 or more. They reduced it to $0 about a year ago.
Just came across your video - you make some excellent points. I believe you are glossing over major themes. 1. The public at large was uneducated on the real estate process as a whole (this is just how its done) - now disclosure of compensation is negotiable & not a requirement. 2. Economics/competition will put pressure on sell side commissions (mandatory in place sell side agreements will allow property owners to opt out buy side compensation) this is the whole basis of the lawsuit making it illogical to assume prior buy side compensation will go back. 3. It will be much harder to conduct business from the buy side with buyer compensation field being eliminated from MLS. (a purging of brokers can be expected) & that side has never paid a commission & will resist. 4. Getting buyside clients to sign the required agreement that has to explicitly outline compensation - no open-ended wording is allowed (your pre-show agreement will not be compliant) is going to be extremely challenging to brokers, especially new ones. 5. Buyers will seek homes from listing agents/agencies direct - paying (2) fees for (1) transaction will be a thing of the past in time. 6. Listing agents will be unwilling/can't compensate the buy side because it commission compression as you articulated.
YUPP 10000%% with everything you said!!!
And don’t forget to be thankful for all your wins things take time they sure do I just remembered that I kept calling one of my clients she’s my groomers mom and a year later I finally have an appointment to see her to sell a four Plex worth over 1.2 million and I’m so excited and I literally forgot to say thank you Lordso yes, we always have to be thankful for all our blessings no matter how small or big
Watching this makes me feel like being a Realtor is akin to a MLM
it's real gift to be able to use a thousand words when one hundred would do. 😒
im just not gonna listen to the noise and keep grinding.
Will they get rid of MLS? If buyers actually had to pay themselves they wouldn't waste an agent's time. Which means you only work with serious buyers
Non-Serious buyers many times turn into serious buyers.
Compensation has always been negotiable. People are taking this waaay out of context. This just means you have to have a killer buyer presentation to show your value, and present your professional fee.
It also depends on where you live. In my state the listing agents are all mostly on code and know they need to explain to their sellers the value of offering something to the buyers agents. It’s really up to them to offer something and they might legally have to with VA loans.
It’s also up to buyers agents to step up and show their value. I don’t think it’s going to be as serious as people think.
Positive yet realistic message
No, I cannot handle 100 listings right now. It’s tough to juggle listings. And yes they do take time it is a process. I’ve never had a listing that said yup cell right now let’s sign and sell. I haven’t had that luck yet. I specialize in probate, which take even longer, but I am planting my seeds when I do speak to canceled and expired listings, you say I’m here to be of service
It’s because of the survival aspect of human nature. The old animal version of ourselves had to focus on threats for survival. Those threats were negative as it relates to living therefore our gut instinct is to pay attention to it so we don’t die. That’s why. It’s hard to understand because it’s been engrained into our existence for thousands of years. A gut feeling type thing. Words are not easy to come by for the explanation for many.
Contact people in our database let them know who I am, what I do, and let them know we are here to help and expand our influence and grow our database pay it forward! Like that!
Don’t focus on what if. Focus on what is. And be diligent
-Kratos
Do you think it's the plaintiff's attorneys causing the marketing of these false headlines?
You’re actually scaring me by yelling
Haha, todays yelling is counter to the message.
Take em’ to CHURCH ⛪️ RICKY ❤️⚡️🤙👊👍
As a new agent, I needed to hear this 💪🏼 Love your attitude Ricky! Keep crushing it out there!
I'm glad brother. Thanks for watching
Not even a shoutout for helping ya out? Ha
Why do you want a shout-out ?
Great video. So true
Fears sell more..
“Fake news”
Thank you Ricky!
Thx Ricky