58 min listen
204: Agents React to NAR Lawsuit Commission Change
FromOn The Market
ratings:
Length:
40 minutes
Released:
Apr 1, 2024
Format:
Podcast episode
Description
The NAR lawsuit changed the real estate industry overnight. Just like that, buyer’s agents were no longer getting their standard three percent commission, and many investors began imagining what buying and selling homes would be like without realtors. But is this massive NAR settlement as dramatic as the headlines are making it out to be? Is there really an agent exodus on the horizon, or is this just a way for the bad agents to exit the industry quickly? We brought on a panel of top investor-friendly agents to find out.
Joining us are four agents from across the nation: Avery Carl, Craig Curelop, Juliet Lalouel, and Mike Savegnago. All of these agents are affected by the recent NAR lawsuit settlement, but they don’t seem so shaken up. For many of these agents, this lawsuit simply thinned the competition, putting the expert agents back on top while showing the less-than agents the door. Plus, after the recent deals they’ve done, they’re not too concerned about a lack of buyer’s agent fees.
Today, we’re asking each of them their thoughts on the changes to the NAR’s rules, how this will affect buying and selling homes, what this means for real estate agent commissions, and what agents should do NOW to get ahead of the game. Plus, since our agent panel is all investors as well, they give some crucial advice on finding an agent in your area that will help you build your real estate portfolio even bigger.
In This Episode We Cover:
The NAR lawsuit explained and what it means for real estate agent commissions
A “huge exit of agents” and how this could change the real estate industry forever
What to do when a seller offers you or your buyer’s agent a zero-percent commission
What real estate agents need to start doing NOW to ensure they still get paid
The key signs of an investor-friendly agent that any landlord should be looking for
Massive downsides of buying or selling without an agent (it will cost you…)
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
Avery's BiggerPockets Profile
Avery's Facebook
Avery's Instagram
Avery's LinkedIn
Avery's Website
Craig's BiggerPockets Profile
Craig's Facebook
Craig's Instagram
Craig's Website
Juliet's BiggerPockets Profile
Juliet's Instagram
Juliet's Brokerage Instagram
Juliet's YouTube
Juliet's Website
Mike's BiggerPockets Profile
Mike's Facebook
Mike's LinkedIn
BiggerPockets' Instagram
Breaking: NAR Settles for $418M, Buying and Selling Homes Could Change Forever
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-204
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
Joining us are four agents from across the nation: Avery Carl, Craig Curelop, Juliet Lalouel, and Mike Savegnago. All of these agents are affected by the recent NAR lawsuit settlement, but they don’t seem so shaken up. For many of these agents, this lawsuit simply thinned the competition, putting the expert agents back on top while showing the less-than agents the door. Plus, after the recent deals they’ve done, they’re not too concerned about a lack of buyer’s agent fees.
Today, we’re asking each of them their thoughts on the changes to the NAR’s rules, how this will affect buying and selling homes, what this means for real estate agent commissions, and what agents should do NOW to get ahead of the game. Plus, since our agent panel is all investors as well, they give some crucial advice on finding an agent in your area that will help you build your real estate portfolio even bigger.
In This Episode We Cover:
The NAR lawsuit explained and what it means for real estate agent commissions
A “huge exit of agents” and how this could change the real estate industry forever
What to do when a seller offers you or your buyer’s agent a zero-percent commission
What real estate agents need to start doing NOW to ensure they still get paid
The key signs of an investor-friendly agent that any landlord should be looking for
Massive downsides of buying or selling without an agent (it will cost you…)
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
Avery's BiggerPockets Profile
Avery's Facebook
Avery's Instagram
Avery's LinkedIn
Avery's Website
Craig's BiggerPockets Profile
Craig's Facebook
Craig's Instagram
Craig's Website
Juliet's BiggerPockets Profile
Juliet's Instagram
Juliet's Brokerage Instagram
Juliet's YouTube
Juliet's Website
Mike's BiggerPockets Profile
Mike's Facebook
Mike's LinkedIn
BiggerPockets' Instagram
Breaking: NAR Settles for $418M, Buying and Selling Homes Could Change Forever
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-204
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:
Apr 1, 2024
Format:
Podcast episode
Titles in the series (100)
26: Rates Drop Below 5%, Opendoor’s $62M Mistake, and Jamil’s Dead Deal: Interest rates are dipping below five percent, hedge funds and institutional investors are starting to sell off their homes, and inexperienced syndicators are getting stuck with bad deals. Is this the everyday investor’s version of a miracle? Nope, it’s just another week in the wild 2022 housing market! Joining us is the entire On The Market panel to talk about which up-to-date, hard-hitting stories affect investors the most.To start, we’ll talk about Invitation Homes, one of the most prominent institutional real estate companies, and how they’re being accused of using unpermitted work to renovate their recent acquisitions. Within the same vein, Opendoor, another institutional investor, was fined a whopping $62M for “deceptive marketing”, but did they really make promises they couldn’t keep? Don’t worry, this isn’t an entirely iBuyer-only episode.Our last two stories cover commercial real estate and interest rates by On The Market