This will probably be the day that the real estate world changes forever. It will end up being the day that more paperwork buried the participants, which we'll get through but it will take a few months before consumers get comfortable with it. I'd like to memorialize...
Hiring a listing agent to sell your home has become even trickier since the commission lawsuit. What do you look for now?
Remember my uncle's house in Los Altos? The buyers paid $4,137,000, and financed $2,689,000, which at 7% will be around $17,890 per month. Add around $4,000 per month for property taxes and $1,000 for insurance and it totals $22,890 per month. And now they are renting...
Are you going to hire a less-experienced agent who isn’t as good on pricing, just to save a point because you trust your zestimate? Yikes!
In mid-August, the new rule takes effect that NO buyer-agent commissions will be advertised on the MLS. Technically, sellers paying commissions to the buyer-agents will still be allowed for now - they just have to be negotiated outside of the MLS. There will be...
While management believes that buyer-agents will adapt and the implementation of the buyer-broker agreement will happen over the next few months, I have my doubts. It's more likely that buyers will resist paying 2% to 3% to their agent, unless they are convinced that...
I keep getting the question. 'What are you going to do about these buyer-broker agreements?' I told Donna yesterday that I'm probably not going to do them, at least not much. Oh, but you have to do them! Yeah, I know, but it probably means that I won't work with...
The commission lawsuits and action by the DOJ will cause buyers to wonder if they need to pay for representation, and what do they get if they do. It will also be a function of how much it costs. If the service was free, everyone would do it. It's been like that in...
Some might be thinking, "Yeah Jim, you're such a big talker, what do you got?" I had three buyer sales in the same time period. Here's how they turned out: My first job is to gather information to help determine my chances of making a deal. It starts with the listing...
I mentioned this dilemma a few months ago and the C.A.R issued clarification in October. While the contract generally tends to be seller-friendly and of course it protects realtors at all costs, this is an advantage for buyers: Sometimes during the course of the...
