All Forum Posts by: Marc Rice

Some of realtor folks here are always making funny assumptions :-) why in the world the part time agent would get flushed out, the other way around could be happening too because as the cake is smaller, it's almost no make sense to have living as full time agent lol 

also there's no such thing as good and as bad agent, if good agent offering 3 percent and lousy agent could offer 1 percent , buyer can still flock using the lousy agent. 

Remember this all good cop bad cop good agent bad agent is only self-proclaimed imaginary status lol

I have a few HOT TAKES on this recent NAR Settlement News

1. Buyer's agents won't wait long to get into written agreement with a Buyer. Right now, many agents don't sign any agreements until they sign an offer. With this new system, I won't wait long to sign an agreement and spell out what commissions are owed. Many Buyers will refuse to sign, but will quickly see that no one will want to work with them for free without an agreement in place. This is actually not a bad thing for Buyer's agents, as we will encounter less tire kickers. 

2. Prices of listings will adjust. The MLS market always included both sides of the commission. So if the Seller is not offering that commission, then the price of the home offered should be less, since the buyer is now assuming this responsibility

3. Many agents will leave the business. Again, this is a good thing. For many agents it can be a sigh of relief, as we no longer have to compete with incompetent family members for business 

4. The market will drive commissions. In a sellers market, anyone can sell a home. This is why I believe this issue started in the first place. Sellers got greedy and wanted more money in their pocket because they felt they could sell their home on their own just by putting it on the market. While some of this is true, this won't hold true when the market shifts. In a Buyer's market, sellers offer LARGER commissions to Buyers agents in hopes of getting an offer. To the sellers thinking they are going to make more money, maybe not. 

5. Buyers who don't have representation will get screwed. If a buyer doesnt want to pay an agent and goes directly to the seller, their interests are not protected. In the short term we might not see any issues, but overtime, cases will arise when Buyers start getting screwed in shaky deals. Its like going to court without a lawyer. The lawyer could've likely gotten you a shorter sentence.

What are your thoughts?

Even South Fulton? 

I live in California (North Bay region) and I own a SFH here and I am planning to invest out of state. I have a budget of around $250k. I'am considering Arizona , Nevada or North Carolina for investment . Which among three ( townhouse or condo or SFH) is better for appreciation and cash flow and property management will cost low among three? I'am considering these states as property tax and tax are low in the states and my husband did his graduation from Arizona and Nevada is closer to where i live and North Carolina is in my mind without any specific reason:) .

I and my husband does not have any relatives or friends in any of the states, so we don't have pretty much any idea about the market in any of the states. We are doing  online research about the market and decided t invest in these three states, and if we find any good deals we may invest another $200k in the market in the coming months. Is it a good idea to buy a duplex as a first investment or different real estate properties ?

Stabilized, off-market, single-family rental portfolio for sale. Great ROI. Properties are updated and 100% rented. Details can be shared if interested. Priced for quick sale. 9 Properties included. $835,000 NOI $101,403. The managing member of the LLC is a licensed real estate agent in Ohio.

Greeting BP,

Curious to hear some general thoughts on how high is to high for home prices. Im looking in the Westerville area of Columbus and some duplexes are going for 400k. How realistic is it to expect much appreciation on a property that high already? With rents as well in the $1500+ range how high is too high before people just cant afford it in Columbus? I know Intel is expected to bring wage growth but can we really rely on that as fact? Even so, how much could that really impact?

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OK I am going to do it.. Columbus Ohio. 

Hello all,

I bought my first rental property in Columbus OH using the BRRRR method and money from my HELOC on my primary residence. I am now trying todo a cash out refinance to pay off my HELOC so I can repeat the process. I could get all my money back out (except closing costs) if I did a 80%LTV, however that would be at a 9% interest rate unless I decide to buy down the rate. I would still be positive cash flowing, but just barely. My other option would be to do a 75% LTV at 7.5% interest, but I would have to come up with $20,000 to pay off my HELOC or carry the balance on my HELOC and pay interest on that as well. My goal is to keep this property long term, refinance in maybe 3 years when interest rates have hopefully come down and my property has also increased in value.

Thank you for your help! - Inga