What happens to buyers’ agents if the bombshell lawsuit explodes?
Multiple lawsuits are challenging the way agents get paid. Inman asked experts what that means, and how the future of real estate might evolve as a result of changes to the commission structure.
This is a very interesting article and well worth reading especially if you are a Buyer’s Agent and specializing in that area of Real Estate. What I found really interesting is the fact that France has basically no Buyer’s Agents, like 1%. There are many reasons the real estate industry is changing. People are not stupid and thanks to social media on a global level people are communicating more than ever on what they see and what they want. No matter how painful, difficult, or easy it can be, we all continue to evolve with the desire to make this world a better place. Some of the driving factors are the high cost of real estate, raising interest rates and raising inflation. The average price of a single family home in Santa Barbara CA is $1,835,899 per Zillow as of 7-8-22. Once we hit $2m at 6% realtor commissions we are at $120,000 in realtor commissions just to sell a home. The big question? Why should a home seller pay $60,000 of that to a Buyer’s Agent when the buyer should be paying the Buyer’s Agent. After all, they hired their own agent to find and help negotiate the purchase, so pay them.
As you will see on our homepage here at NH Big Inc. our sellers, when selling to an investor pay nothing and the buyer pays almost nothing at $5,000. We operate in an extremely different way because we are investors not realtors. That is a huge savings for both Sellers and Buyers. We do see the value in real estate agents and brokers and work with them all the time and help them generate the income they need. All most 70% of all agents nationwide in the USA don’t make enough to do their job full time so they have full time jobs and do their real estate part time. I am sure after reading this article most buying agents will start seriously thinking of shifting back over to being a listing agent where all the money and power is. You, as a property owner, have the money and power too! We are here as real estate consultants to guide you through the process of saving you lots of money and lots of your valuable time!