ilmscore | Selling Your Home Will NEVER Be The Same - Realtor Commissions Cancelled

Selling Your Home Will NEVER Be The Same - Realtor Commissions Cancelled

Published: 2024-03-26
Status: Available | Analyzed

Predictions from this Video

Total: 8
Correct: 0
Incorrect: 0
Pending: 8
Unrated: 0
Prediction
Topic
Status
The National Association of Realtors has settled a lawsuit and will no longer enforce the standard 6% commission rate.
"the National Association of Realtors agreed to settle by paying $400 some million dollar and they also agreed to get rid of the standard 6% realtor commission"
Real Estate Commissions
Pending
Following the lawsuit settlement, sellers will pay their listing agent, and buyers will pay their buyer's agent.
"the seller pays a commission or whatever fee that you want to your listing agent and the buyer should pay for the buyer's agent"
Real Estate Commissions
Pending
The real estate market will see a wider range of commission rates, with both discount and higher-end brokers.
"there's going to be a big range of discount brokerages and there's going to be some more higher end more expensive Brokers that has always been the case"
Real Estate Agents
Pending
Skilled real estate agents with strong negotiation and business-building skills will gain more market share and negotiating power.
"good agents who know how to negotiate who know how to build their book of business well they're going to have more negotiating power and more market share"
Real Estate Agents
Pending
New brokerages will emerge offering low-cost, base-level listing services for a fixed fee (e.g., $1,000 or $5,000).
"you'll see more brokerages that will say We'll list your property for just $1,000 or $5,000 or whatever well they'll just do this base level listing service"
Real Estate Brokerages
Pending
Buyers and sellers will independently negotiate fees directly with their respective agents.
"buyers will probably just be communicating and negotiating with their buyers agents and sellers will just be communicating and negotiating with their seller agents"
Real Estate Agents
Pending
Some individuals may attempt to complete real estate transactions without the assistance of an agent.
"maybe you'll see some people try to do a deal without an agent"
Real Estate Agents
Pending
The number of people entering the real estate agent profession significantly increased between 2020 and 2021, a 60% rise compared to the preceding two years.
"More Than 156,000 People joined the ranks as a real estate agent between 2020 and 2021 combined which is nearly 60% more than they did the 2 years prior"
Real Estate Agents
Pending