Will history repeat but with different reason ?? Thoughts on how real estate agent commissions affect price of property these days and what future holds !!

Hello Everyone,

Here is a great read regarding Agent fees & commission caps for new buyers that you should start seeing in the near future !

This post from CBS news could be a HUGE interest to you. this is a MAJOR INSIGHT on what the Industry could come in contact with in the coming months~

” Experts said this week’s legal verdict that the powerful National Association of Realtors (NAR) and several large brokerages conspired to inflate home commissions could eventually reduce real estate agents’ fees and, crucially, lower costs for home buyers and sellers. At a minimum, the jury ruling will likely lead to greater transparency, long a source of confusion and frustration for consumers about where their money goes in real estate transactions.

The vast majority — or nearly 90% — of U.S. homes are bought and sold through real estate agents affiliated with NAR. The organization, the country’s largest trade association, requires home sellers to offer a non-negotiable commission before listing homes on its property database, known as the Multiple Listing Service, or MLS, which feeds into real estate sites such as Zillow. Paid by the home seller to their agent as well as the buyer’s agent, the commission currently stands at around 5% to 6% of a home’s sale price. “

Please read & let me know …

What is your thoughts on this?

Is this a positive or negative impact on you personally?

Were all getting ready for next year and hoping and wishing for the market to ease with inflation ASAP – Will this be a huge factor/reason for buyers to get back into the market? I think so, especially with the closing costs we have all been seeing ” Lately ” ( for a while now ) on your borrowers to get deals done, I think this will open up a chunk of the buyers market that we haven’t seen in a while.

Honestly, from an Account Executives point of view, Closing costs kill deals just as much as rates can ~

https://www.cbsnews.com/news/nar-lawsuit-verdict-real-estate-agent-commissions/

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Are Baby Boomers Controlling The Housing Market? The impact of baby boomers on the housing market can vary depending on the specific region and economic conditions. Baby boomers, born between 1946 and 1964, constitute a large demographic cohort that has had a significant influence on various aspects of society, including the housing market.

Several ways in which baby boomers may influence the housing market include:

1. Homeownership Rates: Baby boomers, as a generation, have experienced increases in homeownership rates over the years. As they age, some may choose to downsize, sell their homes, or move to different types of housing, affecting the supply and demand dynamics in the market.

2. Economic Impact: Baby boomers often have accumulated wealth over their lifetimes, and their economic decisions, including housing choices, can have a substantial impact on the overall housing market. For instance, they may choose to invest in real estate, affecting local property values.

3. Housing Preferences: Baby boomers may have different housing preferences than younger generations. Some may prefer larger homes, while others may seek downsizing options such as condos or retirement communities. This can influence the types of properties in demand.

4. Rental Market: Some baby boomers may choose to rent rather than own, affecting the rental market. This decision can influence the demand for different types of rental properties and impact rental prices.

However, it’s essential to note that the housing market is influenced by various factors, including economic conditions, interest rates, government policies, and the behavior of other generational cohorts, such as millennials and Generation Z. The interaction of these factors contributes to the overall state of the housing market.

As of my last knowledge update in January 2022, it’s advisable to check more recent sources or consult experts in real estate and economics to obtain the latest information on the influence of baby boomers on the housing market, as conditions may have evolved since then.