All Forum Posts by: Lucia Rushton
Lucia Rushton has started 17 posts and replied 1566 times.
Post: The new NAR rules have actually made buyer agent commissions go up not down
- Realtor
- Dallas - Fort Worth Metroplex, Tx
- Posts 1,644
- Votes 924
Quote from @Brie Schmidt:
@Jonathan Klemm - You have to understand that what @Henry Lazerow and I do is very different than the retail side of things. Sure if you are buying a condo downtown you can probably get away with using a discount broker. But 2-4 units is Chicago is extremely complex with 100+ year old buildings, Chicago zoning, department of buildings with violations and inspections, plus the RLTO. Our business requires a much more in depth knowledge base to advise investors.
The new contracts are not release yet but here is how it is going to work:
* Buyer's are required to sign a agreement with their agent that sets a commission amount
* Seller's will sign a listing agreement only for the listing agent's commission
* Offers to purchase will include a buyer's agent commission amount
* Offers will be presented as net to the seller
* Buyer's may have to cover the difference between their contract commission amount with their agent and what the seller is willing to pay.
One important thing to note is when we run comps on the MLS both commissions were always included, so that needs to be adjusted if a seller is not willing to pay a commission. They won't be able to sell their home for the same amount as their neighbor with the exact same house if their neighbor paid 2.5% and they are paying 0%
sadly sellers won’t think like you - many see the gross sales amount. And many agents are not educated enough to explain the difference to them in a positive way.
Plus, at least in Texas (as I write this), the new listing agreement has an option for sellers to still offer BAC.
The main point from this law suit is the BAC will not be shown in the MLS. Which will require additional hours of work on behalf of Buyer's Agents to find out what is included and what is not. I pray that Realtors across the board get better at communicating with faster reply times (and or actually pick up the phone when it's ringing). End of rant LOL
As always just my opinion and not written by Ai.
Post: Does Anyone Have Experience Working with eXp As a New, Part-Time Agent?
- Realtor
- Dallas - Fort Worth Metroplex, Tx
- Posts 1,644
- Votes 924
@Andrew L. You get what you put in. eXp has tremendous training both video and live daily. You have to tap in. Where do you live ? Here in DFW we have an amazing network so our club also holds in person events regularly. And most importanlty we also have Agents throughout the US and abroad on our Team and they participate in our zoom meetings and group chats so they are never alone.
Post: Math not mathing on wholesaler lists
- Realtor
- Dallas - Fort Worth Metroplex, Tx
- Posts 1,644
- Votes 924
@Ryan Daulton could content here. Supports my experience with wholesalers.
Post: Commercial Real Estate For Sell
- Realtor
- Dallas - Fort Worth Metroplex, Tx
- Posts 1,644
- Votes 924
@Dwaine Leavell are you a wholesaler ? What is your role and how do you get paid ?
Post: Seeking Insights from Cash Buyers in Dallas
- Realtor
- Dallas - Fort Worth Metroplex, Tx
- Posts 1,644
- Votes 924
@Brian Cannon so glad you moved to Dallas and want to begin investing !!
When you say cash, are you talking about the green stuff or Hard money ?
What’s your budget ?
Post: Anyone have experience with doing a rehab on a long distance property?
- Realtor
- Dallas - Fort Worth Metroplex, Tx
- Posts 1,644
- Votes 924
@Marc Shin where in Texas?
Post: Syndicator Threatens LPs for Negative Comment about them On BP
- Realtor
- Dallas - Fort Worth Metroplex, Tx
- Posts 1,644
- Votes 924
@Scott Trench words can not express how grateful I am for your management style, your passion for truth and honesty, and your commitment to this platform. THANK YOU 🙏
Totally off topic but I wish you would consider moving into politics. You would be a breath of fresh air. America needs your management style - take responsibility, fess up, come clean and do the right thing.
Post: Real Estate Photographer Search
- Realtor
- Dallas - Fort Worth Metroplex, Tx
- Posts 1,644
- Votes 924
Quote from @Bob Cheney:
First time as a property manager, looking for any photographer referrals for the DFW area.
The help would be appreciated!
if you have not found a photographer, let me know.
Post: Hello BiggerPockets! New PRO here
- Realtor
- Dallas - Fort Worth Metroplex, Tx
- Posts 1,644
- Votes 924
@Ana Cantu hello and welcome :)
Post: Syndication deals gone sour and the GP is now radio silent! What can I do?
- Realtor
- Dallas - Fort Worth Metroplex, Tx
- Posts 1,644
- Votes 924
@Brian Burke as you know. sadly this is not a one-off story. And how many “syndicators “ were students with expensive coaches and goals/deadlines they had to meet. So the novice syndicator, yes he had a sponsor but they were a dime a dozen back in what I call the gold rush 20-22, tweaked his UW to close a deal. We are going to see multiple stories like this in the coming months up until 2027.
I recall a “seasoned” BP contributor saying being an LP is the safest place to be ……
As always just my opinion and not written by Ai.