Wonder how this will affect RE, esp in PHX area. We’re still seeing bidding wars here 
We’re buying again Must be us with market peaks
Not seeing any downward pressure on home prices. On the contrary, lack of inventory is pushing prices up in desirable areas. With Fed putting a pause on rate hikes for now but inflation and employment still strong, home prices are likely to not change significantly in short term
Wonder how the recent court decision against NAR will shape the buying process
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Agree with home prices are likely to not change significantly in short term here in PHX. small drops at best
All real estate is local.
I wonder if buyers will get a rebate with this case now. I already negotiated down to 5% commission buy maybe I can do better on buyer end. Don’t wanna low ball seller end since I want a good sale price.
In the Charlotte metro, which has been very hot for at least 8 years, houses are starting to list longer, but the prices have yet to drop. In this area, I think it will take at least one more bump, or a slight recession, to cause a drop in prices. People seem to happily spend what they don’t have without a care or concern for the future.
This won’t have any effect in my lifetime. It will be appealed and delayed for the longest possible term.
I think it has been gone for a while, but most people do not know how to negotiate for this only a few times in a lifetime transaction.
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The problem is as a seller you can only negotiate so much. Brokers knew they’d have to pay the buyer’s agent their customary 3% so, you could negotiate a low commission with your seller’s agent but for most people there was just no other option but to pay at least 4-5% in best case scenario.
I’m glad to see these rules going away. Buyers and sellers should now negotiate independently their own agent’s compensation. And for those who did not choose to use an agent, they can save their commission without impacting the other party (at least in theory but we’ll see how the NAR mafia gets around the new rules).
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Well it won’t be effective till July for one (which is dead in PHX area). I need to list 2 $500K homes over spring and thinking of going with these flat listing type places like redfin or https://just990.com/
Unless my current realtor sees the writing on the wall (no luck so far he won’t budge from 5% saying he can get me more $$$… They’re both tract homes)