Real Estate Lawsuit #2

good afternoon hello hello peeps this is Rand and diam brro here I am the Prescot pickle lady yes she is of Prescot Arizona happy to be here just made a whole another batch of pickles waiting for my peeps to come in I can’t wait to share uh always in production as I like to say and spring is sprun so spring is got a lot of people coming in so yes I’m really doubling up on the pickles right now because we got a lot lot of people coming in so today we addressed uh a week or so ago about the lawsuit uh with the National Association of Realtors about the buyer side this week it’s about the seller side Sellers and what this lawsuit means to you as a seller so even if you’re not a buyer you may want to check out last week’s uh video uh we’ll recap at least some of that but uh a lot of good information I think you’ll find there uh just to recap so so this lawsuit’s been going on a while out of the blue the National Association of Realtors uh made this proposed settlement uh it looks like it’s going to be approved and will be implemented in the middle of July that’s July 2024 um the stti it stipulates really two main things the first is that Buyer Agents will have to sign an employment contract with their Realtors so Buyer Agents buyers will have to sign with have to buy The Bu with the buyer agent that’s not what I say I don’t know I don’t know a lot of words blah blah BL blah blah blah blah buyers coming in will have to sign an exclusive employment agreement with their realtor taking them right with their realtor and or buyer agent and it is not negotiable you cannot open a door unless the buyer is under contract yes so that’s going to affect buyers I think more than sellers the thing that does affect the sellers is that you will no longer be able to advertise buyer agent commission also called cob broke uh in MLS you will not be allowed to do that in the past it was mandatory you had to disclose what the buyers agent would be offered yes now they’re doing away with that Al together so that would have to be a separate negotiation yes outside there’s been speculation in national news that you know commissions are going to go way down and sellers are gonna you know make so much more money and uh and agents are screwed and the world’s gonna end all that stuff none of the world is not ending my friends it continues to turn no matter how horrible and how many different crazy things happen in this world we still somehow write ourselves and the whole real estate market is going to do the same thing we’re going to write ourselves and figure out the proper ways to approach all of this yeah the fundamentals of real estate have really not changed very much now you may be in a market where if you put a for sale sign up buyers will call you and in markets like that um it could be that buyer agent commissions will drop it could be that a lot of buyers are not going to want representation uh we do not live in a market like that pres is not that kind of Market presc in Pres buyers don’t live here so they don’t see your for sale signs they’re not driving by like let’s go for a Sunday drive after lunch and go oh that’s a cute house let’s go they’re in California they’re in Oregon they’re in New Jersey they’re not driving by and seeing those for sale sites so Buyer Agents have to reach out find these people talk them into coming to preset they don’t know the city they got to find where what area of the city they want to live in and then they start looking for a home so Buyer Agents in Prescot do the heavy lifting in this market no doubt about it all agents know it they don’t always talk about it but it’s the buyer agents that are you have to we advertise heavily and outof State uh markets um to bring the buyers in and but people who are looking for a change and want to come to a small town life we uh advertise we help them uh come to that conclusion hey this could be a good a good fit for me yes so yeah so right now in Prescot uh it is a strong buyers Market Market M so if you’re a potential seller here in Prescot you need to understand that Co prices are over uh you really do need to price your home at the market rate um and you um you may wait a while buyers are scarce now taking a little bit taking a little bit longer so if you’re thinking you’re going to save the buyer agent commission and that money is going to be in your pocket probably not and I wouldn’t advise you to do it if don’t offer something to the Buyer Agents first of all the buyers have to pay the commission because now they’ll be under contract so if you’re not willing to pay that they see that as just an added cost to your home uh they were always paying the commission anyway it was built in the price of your home uh don’t think you’re going to be able to build it into the price of your home and then not pay it um so the idea that you know if you want to cut out the commission and then lower the price maybe again I wouldn’t advise that because buy you’re going to need Buyer Agents to bring you buyers in this Mar that’s right you can list and save that buyer commission but if you don’t have a buyer agent bringing you buyers well yeah you’re going to sit there for a little while and uh you may not sell as quickly as you would like yes or get qualified buyers because as a buyer agent and listing we do that too but as a buyer agent we you know are you are you qualified are you serious yes we’re not going to bring you looky lose we’re only bringing serious people in yes so things to really consider uh value added as a sell’s uh you know listing you need to consider how many buyers are you really going to be able to bring in or are you going to be relying on your Buyer Agents right right if you don’t have Buyer Agents uh that are going to be bringing you uh buyers you need to have a plan B that’s right um so yeah I I I really think in the short term Not A lot’s going to change in the longer term people might be able to figure out new angles and new things in the short term so like if your house is in the market short already on the market shortterm nothing’s going to change and I wouldn’t try to do anything drastic uh to adjust for this I would just keep doing what you’re doing otherwise you’re going to be waiting years you know to sell your home so uh also too you uh you’re not allowed to advertise uh by your agent commission that doesn’t mean you can’t offer one or should not offer one yeah uh we’re going to advise our guys um our listings our listings offer if you’re going to MLS you really do need to um offer a commission uh you can offer uh a seller concession towards closing cost which I think is going to become code for uh buyer commission we’ll see if that passes muster but instead of having a a separate box for the Commission in the realt comments will it’ll say something like you know seller offers 2 and a half% uh toward buyer closing cost at Coe and uh that is allowed I’m not sure if it’s going to be allowed in MLS that we’re waiting to see that we’ll see lots of moving Parts lots of change uh but it is not deterring us in any way and it shouldn’t deter you that’s right as a seller or you know potential buyer coming in uh let us worry about that we will guide you we will make it happen that’s right that’s uh Realtors are very resourceful type Y and we will work hard to make your sale as easy as possible and get you the best buyer absolutely so don’t fret don’t worry uh just be aware there are some changes uh how it will be presented in MLS how we will uh make concessions it’s just a little a little B little wiggle yeah a little wiggle yeah I like that little wiggle a little wiggle I I think in the end it’s not going to affect uh what’s going on at presc it’s my professional opinion and I like it good job so just wanted to kind of address that I know we’ve gotten a lot of phone calls from people oh I heard on CNN I think they think all Realtors are going to no longer be in business well good luck selling your house I even saw an article that said the housing market was going to crash because it I it’s we just don’t New Media is just terrible our brokerage also agrees with that our brokerage is already actively working on a new way to approach this yeah so both sides are equally represented and happy and you still get the continuous good service that all of us as real estate professionals offer yes so don’t think oh you know all this is a show it kind of is but we’re already working on how to still make this as seamless and easy as possible for you during either selling or buying so don’t worry about it the pickle team is on it we’re approaching this we’re going to still be here and offering you the most incredible service ever that’s right and we’re going to help you through every step of it we don’t want you to worry your pretty little head about this lawsuit pretty little heads your pretty little heads don’t worry we got it covered so uh we’ll maneuver it for you don’t stress we’ll take care of it and we’ll make sure everybody’s happy and covered and and you still have that great representation absolutely so that is our little tidbit for the for today yes I was going to say for the day but I’ll for today for today and again if you missed the previous one uh where we talked about the buyer side you might want to check that out absolutely check it out so here’s to you we hope to see you soon it’s warming up here spring has sprung stunning beautiful flowers trees my favorite time one of my favorite times I love to see the trees in bloom AB it’s just so pretty absolutely so anyway we hope to hear from you soon and love to take you around and show you around our beautiful little town absolutely so take care check us out at pickle 41 1.com that’s our free information site whether you’re a buyer seller somewhere in between there’s something waiting for you that will Amaze astound and form and tickle you’re pretty little head pretty pretty you’re funny bone you’re pretty pretty funny bone yeah you’re pretty funny bone whatever anyway we hope to hear from you soon you take care and have a great rest of your day bye bye