After a $1.8 billion verdict, the clock is ticking on the 6% real estate commission | CNN Business

The verdict handed down in a Missouri court that found the National Association of Realtors, and two brokerage firms, were liable for $1.8 billion in damages may mark the beginning of the end of how homes are bought and sold.

           

https://www.facebook.com/cnn/posts/724020536257267

First had experience with one if the named agencies in this article. I was selling my home and was listed with another agency. I had an agent from the named agency stop by my house one day while I was out front. She told me, “you will never sell this home.” I waited til contract was up and listed with named agency, and they listed house for 28k over stated price the day before with previous agency. Within five days had four offers and three were above asking price. I call them the mafia of real estate and I would like nothing better than to see them fail. Crooks — all of them.


99% of people have no idea what a Realtor does. When representing a buyer, if you think showing a few homes and collecting that commission is it, you couldn't be more wrong.

An example of a Buyer that I am currently working with:

1. They are doing a 1031 exchange and did not realize that they could not move into the property. I explained how 1031 exchanges work, referred them to an accountant, and thereby saved them from exposure of a $40,000 plus capital gains tax expense.
2. I advised the buyer on what areas they will do best for a rental property and helped them narrow down their searching criteria.
3. I set up a profile for the buyer, review the applicable properties that come up daily and send over appropriate listings for the buyer's review.
4. Before any property is looked at,  I obtain and research the CC&R's and HOA rules and regulations to determine if the property can be rented; if there is a rental cap, and if so what are the rules when a renter turns over; and where the property would fall into a rental cap.
5. I research showing availability, set up the appointments and show the properties to the buyer. We look at several properties. I point out positive and negative attributes to each property. This goes on generally for weeks (with some it can go on for months or years).
6. With any property in which the buyer has expressed interest, I research the past history of the home; research closed, currently active and pending sales for the neighborhood in particular, then the expanded area in general. I work with a property manager for this particular buyer to ascertain what amount of rent a property will get in order to ensure an offer makes financial sense. If so, then I recommend the price and concessions to offer on the property to the buyer.
7. When it comes to making the offer, I review the lengthy and detailed contract and other addenda with the buyer, and write up a contract in the way that best represents the buyers needs and wishes. We go over all of the contingencies, and what their responsibilities and risks are.
And did I mention that I referred the buyer to a lender to become preapproved, and help them understand the lending process and how it is represented in the contract? I assure that the preapproval is obtained and the buyer is qualified before taking them into any sellers home.
8. I present the offer and negotiate terms with the listing agent. The offer is accepted, countered, or rejected. If terms cannot be met, the offer is terminated and we start over.
9. Once an offer is accepted, I will: write a summary of the contract terms and pertinent issues and dates for the buyer; open escrow with the title company; provide the lender all the documentation they need; recommend and schedule all of the different inspections; review all the disclosures with the buyer; ensure that the buyer has all the documents they need in order to fulfill their contingencies.
9. Attend all inspections, discuss the risks on whether to move forward or terminate the contract based on the inspection results. If moving forward, I suggest repairs to request, get bids, write up the repair addendum, negotiate repairs with the listing agent. After the repairs are done, schedule and attend a reinspection for the repairs to ensure they were completed adequately. If the buyer terminates based on the inspection report, we start over.
10. Monitor the process with escrow and the lender to ensure everything is on track for closing. Write and submit addendums for the transaction as needed.
11. Monitor the buyer's escrow process, making sure their duties and responsibilities are met in a timely manner to keep the contract valid.
12. Attend signing with the buyer.
13.  Facilitate possession at the appropriate time.

A buyer or seller will benefit from having representation on purchase or sale of the largest investment most people will ever make.

A buyer, in general, has to provide a down payment, closing costs, loan costs, and inspection fees. They usually do not have additional funds to pay for representation.

I love my job, but cannot work for free, just like everyone else.

Sellers benefit from receiving an offer from a well qualified, represented buyer, and a listing agent who represents their best interests. There are so many things a listing agent does, but that is for another day.

Having a real estate agent does not inflate housing prices. Homes are not priced based on what the market will bear plus commissions. They are based on what the market will bear, and commissions are subtracted out of that.

Commissions are always negotiable and listing commissions are determined between the seller and the listing agent. The seller can choose to offer, or not offer, a buyer's agent a commission to bring a qualified buyer to the table.

The buyer has the option to pay their agent's commission if a listing does not provide one, if they can afford to do so.

Every buyer and seller has the option to represent themselves and not pay a commission. There are platforms out there that support this.

A good Realtor is worth every penny.


Read my Facebook post (from March 1, 2023) and comments I wrote below this Facebook post.

The torture device has two purposes (i) and (ii):

(i) Technological means were put in me, which access my data AUTOMATICALLY since Feb 2016. NO PHYSICAL PAINS. My data transit automatically from me to
- computers connected to my spine,
- the group on Facebook and
- somewhere in US spy services.

(ii) Computers were connected to my spine, from which individuals modify artificially my nervous system BY CLICKING since Feb 2016. PHYSICAL PAINS. Can be ended anytime. Since Feb 2016, I think they go to Facebook offices 8th floor 770 Broadway New York 24h/24h only to CLICK.

Since Feb 2016, I think the parents of Ari Sasson:
- They know they can’t stop (i). They have tried (by asking their network from March 2016). They haven’t been able to stop (i).
- They know they can stop (ii) anytime.

I think the parents of Ari Sasson and their network haven’t wanted to stop (ii) because they can’t stop (i).

I’m being tortured by (ii) because they haven’t been able to stop (i).

See comment 30 of my Facebook post for crimes committed by Facebook employees.

I think the network of the parents of Ari Sasson have thought only about my data in the group on Facebook. To make that certain Facebook employees DON’T DISCOVER THE SOURCE OF MY DATA which is computers connected to my spine and not Facebook platform as all data in Facebook.

I think they’ve tried to cut only the connection between computers connected to my spine and the group on Facebook. I think they didn’t care about computers connected to my spine because they thought only their network have access to the screen of computers connected to my spine.

I think because they haven’t been able to stop (i) in this group on Facebook, they’ve preferred The 20 Individuals (and then the 20 new illiterate) CLICK to make artificial modifications of my nervous system to inflict me physical pains (ii).

I think the parents of Ari Sasson and their network have wanted:

a. To make I don’t have money. First thing. Mainly by asking companies to not hire me after Deloitte fired me in Aug 2017. I’ve looked for a job from Aug 2017 to June 2022 for 5 years.

b. That I leave the US and that I stay in France.

c. That I am tortured by (ii). They thought if they can’t stop (i), they prefer I am tortured by (ii) to weaken me physically and they thought the torture can kill me.

I think the 3 parties involved in crimes committed against me have different interests, I think:
- The parents of Ari Sasson. They‘ve preferred to kill me.
- The network of the parents of Ari Sasson. They’ve preferred to kill me.
‪- The 20 Individuals. They are sadists.

‪I think The 20 Individuals have wanted to inflict me inhuman physical pains at each second 24h/24h by clicking on computers connected to my spine. They’ve increased the torture only when I am in France. Wherever I am they’ve tortured me 24h/24h by clicking since mid-Oct 2017.‬ They started to click in Feb 2016.

I think:
The 20 Individuals didn’t care that I leave Deloitte and the US. They didn’t care that I have a job.

The parents of Ari Sasson and their network have wanted that I leave Deloitte, the US and that I don’t have money. They’ve wanted I don’t have a job anywhere.




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