35 min listen
135: New Agent Lawsuits Could Have Profound Effects for Buying and Selling Homes w/James Rodriguez
FromOn The Market
135: New Agent Lawsuits Could Have Profound Effects for Buying and Selling Homes w/James Rodriguez
FromOn The Market
ratings:
Length:
48 minutes
Released:
Aug 28, 2023
Format:
Podcast episode
Description
New real estate commission lawsuits could change home buying and selling as we know it. Long gone may be the days of buyers walking away paying zero commission and sellers having to bear the entire burden of a real estate transaction. Two new class action lawsuits against the National Association of REALTORS (NAR) could change how agents are paid and deals are done, but should investors even care?
We brought in James Rodriguez, Senior Real Estate Reporter at Business Insider, to explain exactly what could happen to commissions, what this means for the future of buying and selling real estate, and whether or not the next agent extinction is on our hands. With over $40 billion in damages from these combined lawsuits, real estate agents may wake up to an entirely new housing market where their services are rarely needed.
But who’s forging this fight against real estate agents, and why are they pushing for a “decoupling” of commissions? And, if you’re a full-time agent, should you be concerned about where your next paycheck could come from, or is this merely a hollow case with no REAL threat to hard-working agents and realtors? Stick around; we’ll get into who should (and shouldn’t) be worried.
In This Episode We Cover:
The multi-billion dollar NAR lawsuits explained and why commissions could be “decoupled”
A BIG threat to buyer’s agents and what happens when their services are no longer needed
Whether or not using an agent is worth it, and why most investors will STILL rely on realtors and agents
The potential of an MLS (multiple listing service) overhaul and combining all local listings into one
Paying agents per hour and the future of real estate commissions
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
Dave's Instagram
Understanding Real Estate Commissions (And How to Negotiate Them!)
The multibillion-dollar lawsuits that could radically reshape how we buy and sell homes forever
Connect with James:
James' Profile - Insider
James' Twitter
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-135
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
We brought in James Rodriguez, Senior Real Estate Reporter at Business Insider, to explain exactly what could happen to commissions, what this means for the future of buying and selling real estate, and whether or not the next agent extinction is on our hands. With over $40 billion in damages from these combined lawsuits, real estate agents may wake up to an entirely new housing market where their services are rarely needed.
But who’s forging this fight against real estate agents, and why are they pushing for a “decoupling” of commissions? And, if you’re a full-time agent, should you be concerned about where your next paycheck could come from, or is this merely a hollow case with no REAL threat to hard-working agents and realtors? Stick around; we’ll get into who should (and shouldn’t) be worried.
In This Episode We Cover:
The multi-billion dollar NAR lawsuits explained and why commissions could be “decoupled”
A BIG threat to buyer’s agents and what happens when their services are no longer needed
Whether or not using an agent is worth it, and why most investors will STILL rely on realtors and agents
The potential of an MLS (multiple listing service) overhaul and combining all local listings into one
Paying agents per hour and the future of real estate commissions
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
Dave's Instagram
Understanding Real Estate Commissions (And How to Negotiate Them!)
The multibillion-dollar lawsuits that could radically reshape how we buy and sell homes forever
Connect with James:
James' Profile - Insider
James' Twitter
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-135
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Released:
Aug 28, 2023
Format:
Podcast episode
Titles in the series (100)
25: How Work-From-Home “Hotspots” Drove the Housing Market Even Higher: What do work-from-home employees and the housing market have to do with each other? Surprisingly, a lot. At the start of 2020, as the first lockdowns were rolling in, many companies made the wise decision to allow their workers to temporarily work-from-home. As temporary became seemingly eternal, more employers started developing permanent work-from-home regulations, allowing employees to, on average, work at their residence for about half of the workweek.With this enhanced flexibility, employees were more likely to move to places their jobs didn’t confine them to. If they were used to snow and sleet, they may have moved to Arizona, Texas, or Florida. If they were stuck in urban areas like New York City and San Francisco, the more suburban allure of Boise, Denver, or Raleigh pulled them even closer. Now, these high-paid, location-flexible workers were on the hunt for houses. And as a result, home prices skyrocketed by On The Market