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Michael Elliott, Burlington, New Jersey Residential Sales (Fathom Realty)

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Rainmaker
5,398,300
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Not me, I am fully retired. As for others, absolutely for many reasons but I will refrain from going further this morning.

Aug 06, 2024 04:29 AM
Rainmaker
2,471,634
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I find most of the world is confused most of the time Michael Elliott . 🤪

Aug 06, 2024 06:45 AM
Ambassador
4,888,586
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I don't have any listings right now, but from the chatter I have been seeing on social media about it, seems like a lot of people are really confused, haha.

Aug 06, 2024 05:42 AM
Rainmaker
5,226,078
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Not as yet.

Aug 06, 2024 05:17 AM
Rainmaker
876,506
Gwen Fowler SC Lakes & Mountains 864-710-4518
Gwen Fowler Real Estate, Inc - Walhalla, SC
Gwen Fowler Real Estate, Inc.

Not sure if it is the clients or the way I am explaining the new process.  I will get better and this time next year we will wonder about all the anxiety we are going through

Aug 06, 2024 05:00 AM
Ambassador
3,398,144
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

 

I have experienced that some buyer agents were confused and continue to be confused when making offers on my listings. 

Aug 06, 2024 09:27 AM
Rainmaker
745,783
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Yes.  For the last few weeks there have been many mistakes on offers written. In essence, when they are asking for seller contributions to buyer closing costs (namely their agreed to fee in their buyer contract) while there is still co-op commission being offered, they are doubling their fee.  We have had to correct this mistake a lot.

Aug 06, 2024 08:46 AM
Rainmaker
2,820,950
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I am one of the many that could get anyone in or out of Real Estate effectively & efficiently. 

Aug 06, 2024 05:46 AM
Rainmaker
8,052,112
Roy Kelley
Retired - Gaithersburg, MD

Thanks for sharing your experience.

Aug 06, 2024 05:09 AM
Rainmaker
1,265,387
Peter Mohylsky, Beach Broker
PMI. Destin - Miramar Beach, FL
Call me at 850-517-7098

I am not sure if the confusion has hit the local market yet.  Our market is in a transitional phase, moving from where we were to where we are going.  I can’t give more specifics because I don’t know what they are.  

Aug 06, 2024 04:14 AM
Rainmaker
1,596,460
Thomas J. Nelson, REALTOR ® CRS,ABR,PSA,RCS-D, ePRO
Big Block Realty 858.232.8722 - La Jolla, CA
Serving Coastal San Diego, Veteran's & Seniors

Not yet, but the changes don't take effect for another week, so I'm sure it's coming 😂 

Aug 06, 2024 11:34 AM
Rainmaker
1,527,864
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

LOL!  Some have been confused for a decade plus now.

Aug 06, 2024 08:49 AM
Rainmaker
278,305
Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

Get ready, it's a coming, the stupidity has commenced.  

Aug 06, 2024 06:25 AM
Ambassador
2,105,095
Alan May
Jameson Sotheby's International Realty - Evanston, IL
Home again, home again...

There's not much we can hope for when those who should be in the know (Realtors), are almost as confused as the general public. 

It's hard to get any clarification from anyone, as everything seems to be in flux.

Aug 06, 2024 10:10 AM
Ambassador
3,225,552
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
The best agent in Southern Utah!

Not yet.

Aug 06, 2024 08:41 AM
Rainmaker
5,949,901
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I have attended a few zoom meetings explaining the new contracts and process for compensation, and OH MY, yes, I am sure there will be lots of confusion.   Just the silly questions gives you a hint, LOTS of confusion out there.  So far, no.  But it goes into effect 8/15, so coming soon!

Aug 06, 2024 07:38 AM
Rainmaker
1,401,998
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

A lot of agents are in need of education on the new world of real estate.

Aug 06, 2024 08:45 PM
Rainer
402,029
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

no confusion here.

Aug 06, 2024 01:55 PM
Rainmaker
5,114,328
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I have one listing and have not seen a contract on it yet but only on the market 9 days

 

Aug 06, 2024 11:50 AM
Rainmaker
915,433
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Many agents are confused and clueless most of the time.

Aug 07, 2024 07:18 AM
Rainmaker
2,235,675
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

We are just now turning off the compensation on listings .

Aug 07, 2024 07:16 AM
Ambassador
6,593,920
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Yes, as are listing agents, a huge cat herding operation ahead of us.

Aug 07, 2024 06:51 AM
Ambassador
5,410,290
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

All of my listings are under Contract at the moment.

I personally published the MLS sheets for each of the buyer agents I am working with so that I could share them with each agent. I sent one to each of them saying that I wanted them to know that I would be sure that my firm honored the compensation as stated in MLS prior to its removal. 

Aug 08, 2024 01:13 PM
Rainmaker
925,938
Jeff Pearl
Samson Properties / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Some are asking questions about commission which is what they should do.

Aug 09, 2024 09:29 AM
Rainer
360,649
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse Advisor

I expect there will be lots of confusion. I had a long career prior to real estate in corporate training. Some of it was onboarding, exam training, or increasing their skillset but most of the training was for large scale changes- regulatory/compliance, mergers and acquisitions, technology upgrades, etc. As a result- I was able to see into the future when a large scale change was going to be implemented poorly...and that's what I see here. My management team has been working hard to prepare for it- as are other brokerages- but the problem I am seeing is that the industry leaders are still making changes and still asking questions to a variety of situations. If this were 3 months prior to the Aug 17 changes- I wouldn't be so concerned- but a little over a week before the deadline? I expect a lot of confusion. 

Aug 08, 2024 07:57 PM
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