The Real Estate Thread: Buying/Selling/Tips/News

[lennytheweedwhacker]

I hate all houses and everything about houses and houses

Mo homes, mo problems. Welcome to the big boys club.

It’s really just responsibility and doing anything other than posting that I hate

[Bammer]

Sellers don’t have to advertise paying a commission to the buyer’s agent anymore and what I see happening here is buyers will be responsible to pay their agent the commission directly and that makes it even harder for people to afford to buy now.

That’s my gut reaction anyway.

I guess the other thing is that buyers may just go unrepresented more often.

Up til now it had been sellers paying all commissions (generally speaking) from the equity in the sale of the house.

This doesn’t seem good for buyers.

[spike]

Everything I’ve read is saying it’ll make buying a home more affordable.

[Bammer]

Everything I’ve read is saying it’ll make buying a home more affordable.

The sticker price may come down a little, but who will pay the buyer’s agent?

I certainly could be way off this is just my gut reaction.

Another resilt could be exodus of agents from the industry.

I don’t have a crystal ball, ok??

[lennytheweedwhacker]

The commissions will be less

[Strat]

Nobody has a clue how it is going to impact anything.

my gut is, not much. It may just end up being reflected in the sale price. Youre paying for peoples time in one way or another.

Andrew Babula, director of the real estate program at the University of St. Thomas, agreed that it's too soon to say with any certainty how the agreement will impact the industry, but he offered some initial answers to questions buyers, sellers, agents and brokers might have.

Q: Will this upend the industry?

A: A lot of my peers are claiming [the settlement is] going to completely transform the real estate industry. I think it will have an impact, but don't think it'll be as earth-shattering as some claim. It should lower fees a bit. Previously, [commission] still was technically open for negotiation, so I think some people will forgo some of the services that a buyer's agent would provide and offer cheaper services, but I don't think it will have a wholesale transformation like some people are claiming.

Q: Will house prices come down?

A: No. Traditionally, the buyer's agent fee would be about 3%. If that is not paid by the seller, you could argue that housing prices would come down 3%. However, if the cost of the [seller's agent's] commission to the buyer's agent now needs to be paid out of pocket or directly by the buyer to the buyer's agent, the cost of a home might come down 3% but they might pay 3% to the agent. So the net cost is the same. [Sellers] might negotiate or forgo services and pay 1 to 2% instead. Fees might come down incrementally, but it's not like housing prices are going to drop 10 or 20% simply because of this change.

Q: How will buyer's agents be compensated?

A: I think we will see somewhat of a shift to an a la carte structure from a buyer's side in particular. ... [It's] entirely possible that the free market will negotiate rates at or close to where they are now. It makes it more transparent for buyers and sellers ... but it will ultimately depend on the market and supply and demand.

Q: Does this mean agents will get paid less?

A: Agent fees are at risk. ... They might work with a buyer to find a home — work with them for six months and never get paid anything. While things may go more a la carte, buyers might have to pay agents whether they close on a transaction or not.

[tragabigzanda]

There is a wolf in me . . . fangs pointed for tearing gashes . . . a red tongue for raw meat . . . and the hot lapping of blood—I keep this wolf because the wilderness gave it to me and the wilderness will not let it go.

There is a fox in me . . . a silver-gray fox . . . I sniff and guess . . . I pick things out of the wind and air . . . I nose in the dark night and take sleepers and eat them and hide the feathers . . . I circle and loop and double-cross.

There is a hog in me . . . a snout and a belly . . . a machinery for eating and grunting . . . a machinery for sleeping satisfied in the sun—I got this too from the wilderness and the wilderness will not let it go.

There is a fish in me . . . I know I came from salt-blue water-gates . . . I scurried with shoals of herring . . . I blew waterspouts with porpoises . . . before land was . . . before the water went down . . . before Noah . . . before the first chapter of Genesis.

There is a baboon in me . . . clambering-clawed . . . dog-faced . . . yawping a galoot's hunger . . . hairy under the armpits . . . here are the hawk-eyed hankering men . . . here are the blonde and blue-eyed women . . . here they hide curled asleep waiting . . . ready to snarl and kill . . . ready to sing and give milk . . . waiting—I keep the baboon because the wilderness says so.

There is an eagle in me and a mockingbird . . . and the eagle flies among the Rocky Mountains of my dreams and fights among the Sierra crags of what I want . . . and the mockingbird warbles in the early forenoon before the dew is gone, warbles in the underbrush of my Chattanoogas of hope, gushes over the blue Ozark foothills of my wishes—And I got the eagle and the mockingbird from the wilderness.

O, I got a zoo, I got a menagerie, inside my ribs, under my bony head, under my red-valve heart—and I got something else: it is a man-child heart, a woman-child heart: it is a father and mother and lover: it came from God-Knows-Where: it is going to God-Knows-Where—For I am the keeper of the zoo: I say yes and no: I sing and kill and work: I am a pal of the world: I came from the wilderness.

[Strat]

Im certain the entire industry will look completely different in 20 years. AI is certainly going to take over the appraisal process. There may be no need for any of it, including realtors, once the Lending institutions and FannieMae have enough data to do it all themselves.

[Alex]

Just put my house on the market let’s do this homie

[lennytheweedwhacker]

Just put my house on the market let’s do this homie

How much u aiming for

[doug rr]

I've been stressed for so long about this move and going back to renting in a high rise in the city..been freaking out about having to do all the internet, cable, mail change shit..thinking back years ago being on the phone with someone for hours to get everything done...I didn't know technology at a full service building does this all for you..I gave them the info and it was all done less then 2 hours...nausea feeling gone

[Alex]

Just put my house on the market let’s do this homie

How much u aiming for

I’m not actually doing that.

[spike]

Just put my house on the market let’s do this homie

I thought you were renting it out?

[spike]

I've been stressed for so long about this move and going back to renting in a high rise in the city..been freaking out about having to do all the internet, cable, mail change shit..thinking back years ago being on the phone with someone for hours to get everything done...I didn't know technology at a full service building does this all for you..I gave them the info and it was all done less then 2 hours...nausea feeling gone

Mo money mo tech support

[tragabigzanda]

There is a wolf in me . . . fangs pointed for tearing gashes . . . a red tongue for raw meat . . . and the hot lapping of blood—I keep this wolf because the wilderness gave it to me and the wilderness will not let it go.

There is a fox in me . . . a silver-gray fox . . . I sniff and guess . . . I pick things out of the wind and air . . . I nose in the dark night and take sleepers and eat them and hide the feathers . . . I circle and loop and double-cross.

There is a hog in me . . . a snout and a belly . . . a machinery for eating and grunting . . . a machinery for sleeping satisfied in the sun—I got this too from the wilderness and the wilderness will not let it go.

There is a fish in me . . . I know I came from salt-blue water-gates . . . I scurried with shoals of herring . . . I blew waterspouts with porpoises . . . before land was . . . before the water went down . . . before Noah . . . before the first chapter of Genesis.

There is a baboon in me . . . clambering-clawed . . . dog-faced . . . yawping a galoot's hunger . . . hairy under the armpits . . . here are the hawk-eyed hankering men . . . here are the blonde and blue-eyed women . . . here they hide curled asleep waiting . . . ready to snarl and kill . . . ready to sing and give milk . . . waiting—I keep the baboon because the wilderness says so.

There is an eagle in me and a mockingbird . . . and the eagle flies among the Rocky Mountains of my dreams and fights among the Sierra crags of what I want . . . and the mockingbird warbles in the early forenoon before the dew is gone, warbles in the underbrush of my Chattanoogas of hope, gushes over the blue Ozark foothills of my wishes—And I got the eagle and the mockingbird from the wilderness.

O, I got a zoo, I got a menagerie, inside my ribs, under my bony head, under my red-valve heart—and I got something else: it is a man-child heart, a woman-child heart: it is a father and mother and lover: it came from God-Knows-Where: it is going to God-Knows-Where—For I am the keeper of the zoo: I say yes and no: I sing and kill and work: I am a pal of the world: I came from the wilderness.

[lennytheweedwhacker]

lol doug is a pussy

[bodysnatcher]

I've been stressed for so long

Doug

Stressed doug sets his recliner to 25° recline instead of 55°

[doug rr]

I've been stressed for so long

Doug

hey..thats the stuff that I hate to do and I figured I'd have to do it again..dealing with people on the phone ain't my thing..anyway, stress is gone for now and the pot roast is in the crockpot

[Alex]

It’s a ruff life.

[doug rr]

indeed