Hellow guys, Welcome to my website, and you are watching My Response to the NAR Lawsuit (Real Estate Is Changing Forever). and this vIdeo is uploaded by Graham Stephan at 2024-04-10T13:00:06-07:00. We are pramote this video only for entertainment and educational perpose only. So, I hop you like our website.
| Name | My Response to the NAR Lawsuit (Real Estate Is Changing Forever) |
| Video Uploader | Video From Graham Stephan |
| Upload Date | This Video Uploaded At 10-04-2024 16:00:06 |
| Video Discription | Start your 7 day free trial and get 25% off Seeking Alpha Premium with my exclusive affiliate link at https://seekingalpha.me/Graham | Thanks to SeekingAlpha for sponsoring today’s video. Let’s discuss the NAR Lawsuit Settlement and what this means for real estate, home buyers, and sellers - Add me on Instagram: GPStephan Check out http://acorns.com/graham/ to sign up and receive a $20 bonus when you start saving & investing with Acorns!* Paid ad. Compensation provides an incentive to positively promote Acorns. The information and opinions presented are for informational purposes only and represent the views of the promoter as of the date created and are subject to change. Investment advisory services offered by Acorns Advisers, LLC, an SEC-registered investment adviser. View important disclosures at Acorns.com. GET MY WEEKLY EMAIL MARKET RECAP NEWSLETTER: http://grahamstephan.com/newsletter The NAR Realtor Settlement: What Is The NAR? This is a trade organization that real estate agents can pay into if they want to receive the designation of becoming a Realtor®. This means they’ve pledged to a higher code of ethics, adopt additional industry standards, and they get access to a wide range of services and forms. The Current Payment Structure: The commission is - and always has been - completely negotiable. However, the MLS previously required that the listing agent offer some form of compensation to the buyer’s agent - even if it was just $1. Despite this, most buyer’s agent commissions were listed at 2.5% in the MLS. The NAR Lawsuit: The lawsuit alleges the “existence of an anticompetitive agreement that resulted in home sellers paying inflated commissions to real estate brokers or agents in violation of antitrust law. Their entire argument relies on the belief that - if commission rates were negotiated directly by the home buyer, for their own services, commissions might begin to fall as agents compete for the buyer’s business. The NAR Outcome For Housing Prices: FOR SELLERS: The only confirmed change is that the MLS is no longer required to display buyer’s agent commissions. This doesn’t mean that sellers can’t (or won’t) pay commissions - but it’ll no longer be a required section to list. For buyers, it’ll soon be required that they sign a buyer’s representation agreement before touring any MLS-listed property, that specifically states the amount or rate of the agent’s compensation. The Realistic Changes: I believe that buyers probably wouldn’t want to pay a cost like this out of pocket, especially when so many of them are already cash-strapped to begin with. This means, any commission would have to be written into the offer and “baked in” to the selling price of the home. Second, I wouldn’t be surprised if some buyers simply chose to forgo any representation, entirely, as a way to either save money or make their offer more competitive - which, can be incredibly risky. Sources: List of NAR Dues and Benefits: https://www.car.org/-/media/CAR/Documents/Your-CAR/PDF/Member-Dues-and-Benefits/2023-Frequently-Asked-Questions.pdf The Basis of the NAR Lawsuit https://www.prnewswire.com/news-releases/if-you-sold-a-home-and-paid-a-commission-to-a-real-estate-broker-or-agent-a-class-action-lawsuit-may-affect-your-rights-302070013.html The NAR Settlement for Buyers, Sellers, and Agents https://apnews.com/article/national-association-of-realtors-agent-commissions-lawsuits-d62a66cb80639be3c4c3b429053a22c5 The NAR Presidents Resign: https://www.nar.realtor/magazine/real-estate-news/kenny-parcell-president-of-nar-resigns https://www.washingtonpost.com/business/2024/01/08/national-association-of-realtors-president-tracy-kasper-resigning-blackmail-allegation/ The $418 Million Settlement Terms https://projects.propublica.org/nonprofits/organizations/361520690 Sellers May Receive Only $13 https://www.ocregister.com/2024/03/25/sold-a-home-recently-heres-what-youll-get-from-the-418-million-realtor-settlement/ Additional Settlement Terms: https://www.veteransunited.com/education/nar-commission-settlement/ The YouTube Creator Academy: Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://the-real-estate-agent-academy.teachable.com/p/the-youtube-creator-academy/?product_id=1010756&coupon_code=100OFF - $100 OFF WITH CODE 100OFF For business inquiries, you can reach me at [email protected] *Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice. |
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