NAR Legal Settlement Explained: Winners & Losers +Florida Expansion: Real Estate Expert Kenn Renner скачать в хорошем качестве

NAR Legal Settlement Explained: Winners & Losers +Florida Expansion: Real Estate Expert Kenn Renner

NAR Legal Settlement Explained: Who Is Helped? Who Is Hurt? Plus, Florida Real Estate Expansion with Real Estate Expert Kenn Renner. In today's Real Estate 360 Podcast, Sandy McIlree and real estate expert Kenn Renner analyze the fallout following the National Association of Realtors — NAR settlement and its potential impact on agents and the real estate market. You need to understand how these changes could affect how commissions are handled going forward, potentially doubling the initial costs for first-time homebuyers. Kenn deconstructs the NAR settlement, explaining how it could disrupt the market and what it means for the visibility of sellers' listings if they decide not to offer buyer's agent commissions. Kenn warns of the increased likelihood of for-sale-by-owner transactions heading towards legal disputes without buyer agent representation and advises that buyers' agents must now justify their worth more than ever. He also provides an ingenious solution by resurrecting his home-buying education courses to empower buyers and investors to navigate these waters. Kenn shares that the settlement could inadvertently benefit builders accustomed to paying commissions, thus steering more clients to new homes. As an investor, you must adapt to safeguard your interests in this shifting climate. Kenn equips you with essential strategies and even offers listeners a copy of his comprehensive home-buying book to help you navigate and avoid potential pitfalls. If you want to make more informed decisions and stay ahead of changes in the real estate market, be sure to listen to today's podcast episode. To talk real estate with Kenn, book a call now at 512-423-5626. Key Video Highlights [00:09] Kenn Renner Expanding Business Model to Florida Market Kenn has sold over 300 homes in Santa Rita and Avery Ranch in Central Texas. Kenn is exploring the Florida market due to client demand and plans to apply his successful business model there. [01:49] Booming Texas & Florida Housing Markets Florida markets are showing promise with tax rate reduction and escrow analysis, resulting in lower payments. The Austin real estate market is heading in the right direction, with a median price increase and sales volume up by 4%. [03:29] NAR Legal Settlement Explained The $418 million NAR settlement resulted from a class action lawsuit over the anti-trust commission. Co-Broker Commission In MLS: NAR and other companies can no longer advertise co-broker commissions in the MLS, starting as early as July 2024. [05:21] NAR Settlement Impact On Buyer Agent Representation Buyer agency emerged in the 1990s to provide representation for homebuyers. The market value, not commissions, determines house prices, affecting buyer representation costs. [07:09] NAR Settlement Impact On Sellers And Buyers Sellers no longer have to offer concessions or commissions to a buyer's agent as the market sets the value. Buyers must now seek their own agent representation and pay their own commissions. Homebuyers are faced with the dilemma of either hoping the seller will pay a commission or offer a concession or risk negotiating directly with the listing agent, likely without buyer representation. [09:06] NAR Settlement Affects Buyer Representation Issues With Liability For sale by owners without representation are 3X more likely to get into liability lawsuits. The lack of knowledge and representation especially hurts first-time home buyers. [10:50] NAR Settlement Impact On First-Time Home Buyer Affordability FHA requires a 3.5% down payment, along with closing costs. Buyers may have to pay extra agent fees, deterring first-time buyers from buying. [12:32] NAR Settlement Impact On Buyers, Agents & Lenders Buyers now need to inquire about concessions before seeing a listing, affecting their representation and ability to afford a property. Lenders, VA buyers, and sellers may face challenges and need rule revisions due to the NAR settlement. [14:17] NAR Settlement Winners: Attorneys and Builders Benefit, Sellers Suffer Attorneys receive a significant portion of the settlement, incentivizing class action lawsuits. Builders benefit from not paying buyer agent commissions, making them competitive in the market. [16:11] NAR Settlement Impact on New Homes The settlement will affect the industry in July 2024 with new rules and forms. Kenn advises homebuyers and investors that they will need guidance through the buying process and market change. [17:46] Flagrant Inaccuracies In Media Reporting Kenn Renner counters points from a misleading article. Excitement about expanding services to Florida for clients #NARSettlement #NARLegalSettlment #RealEstate360 #KennRenner #NARLawsuit #RealEstateInvesting #HousingMarket #AustinRealEstate #FloridaRealEstate #MarketTrends #RealEstateEducation #InvestmentProperties #RealEstateAdvice #RealEstatePodcast #RealEstateTrends #RealEstateLaw #RealEstateStrategies