Nicole Friedman
speaker
798 appearances
16 recordings
1 series
first heard Aug 2017
last heard Dec 2024
Nicole Friedman’s voice in public audio — every appearance, attributed to the second.
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Appearances
So this is the huge question that nobody really knows the answer to yet.
A big question is whether the changes in this system for how agents get paid actually lowers commissions, whether buyers and sellers negotiate more aggressively with their agents now or whether they seek out new business models that have increased.
flat fees or fee for service or different types of paying agents that might help lower the cost and then if real estate commissions come down that is typically historically something that's baked into the price of the home so a lower commission could lead to a slightly lower home price
And lowering the cost of transacting, just the cost of buying and selling, maybe could make sellers slightly more willing to sell.
Maybe it could increase the amount of inventory on the market if it's a little bit lower cost to sell a home and buy a new one.
But whether the inventory goes up and that leads to higher or lower prices, again, is something that economists are continuing to debate.
Yeah.
So open houses are hosted by the listing agent in their capacity working for the seller.
So anyone can go to an open house without an agent and doesn't need to sign any sort of agreement.
And buyers also, if they don't want to work with their own agent yet, if they don't want to sign anything with their agent yet,
They can just call a listing agent and ask for a tour, and it's up to the listing agent whether they want to do that.
But remember, as a buyer, you are not represented by the listing agent.
They're not working for you.
They're working for the seller.
Yes.
For sellers who sold their homes sometime in the last decade, they might be entitled to a small payout.
There is a website that you can go to to learn more about whether you're eligible for a small piece of this settlement.
The website is realestatecommissionlitigation.com.
If rates do come down, that might free up some inventory that maybe sellers will say, well, I wasn't going to give up my 3% rate for an 8% rate, but it could also bring more buyers to the market.
So it might still not feel like there's enough inventory to go around.
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