Buying a Home in 2025: Confusing, Corrupt, Impossible?
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 16 May 2025
⏱️ 34 minutes
🧾️ Download transcript
Summary
Ken and Danille unpack the chaos in today’s housing market—from lawsuits reshaping agent commissions to Zillow’s aggressive listing tactics. They also break down how Danille used a 1031 exchange to double her rental income by selling a low-return condo and strategically buying a single-family home in a high-demand area.
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Interested in a video version of this podcast? Check out Ken's new YouTube podcast channel: https://youtube.com/@kenmcelroypodcast
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
Ken's company: https://mccompanies.com
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Transcript
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| 0:00.0 | So I wanted to chat about the NAR settlement. |
| 0:05.2 | Yeah, this is more up your line of work. |
| 0:07.2 | I mean, you're the one in the middle of all this. |
| 0:09.2 | It is wild to watch what's going on right now with the buyers and the sellers and the realtors. |
| 0:15.6 | Everybody doesn't know what's up. |
| 0:17.7 | Well, yeah, it's very confusing. |
| 0:19.0 | And even a lot of our friends that are, I wouldn't say |
| 0:21.1 | they're astute real estate people, but there are astute business people that want to just buy a |
| 0:25.2 | second home or something or asking me to Neil, do I really have to sign this? Do I really have to do |
| 0:29.6 | this? Like what's going on? Well, for the Wild West. It is. And what's interesting is, you know, so for those that don't know, a brief description is that basically now the buyer is responsible for hiring and paying their agent and the seller is responsible for hiring and paying their agent. |
| 0:45.4 | So technically, the buyer's on the hook for, you know, their commissions and sellers for their commissions. |
| 0:50.6 | So what, you know, a lot of, um, journalists and, and people that were |
| 0:57.7 | reporting the quote unquote news thought that since the sellers weren't having to pay the three |
| 1:02.7 | commission percent commission to the buying agent, that they were just going to lower their house |
| 1:06.8 | three percent because they just factored that in. They basically just said, I want to sell my house for $500,000, |
| 1:13.2 | plus the, you know, 6% because I'm paying both sides. So now that I'm not, I'm going to lower it |
| 1:18.9 | 3%, which is not how capitalism or the world works. Well, you're going to have somebody representing |
| 1:24.6 | the seller and you're going to have somebody representing the buyer and they're both going to want to get paid. Yeah, but the seller doesn't price the price of |
| 1:31.2 | their home based on the payouts to the agents. I know. It's basically moving right back to the way it was. |
| 1:37.5 | It basically is right now because right now it's a buyer's market. So sellers, basically what's |
| 1:43.2 | happening is realtors are putting into the contract. |
| 1:47.5 | Part of the negotiation is you pay my fees. Like if you want my clients to buy this house, you're going to pay my fees. |
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