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Wealthy Investor Podcast - Real Estate Investing, Building Wealth, Faith Based

The Purge of The Real Estate Industry

Wealthy Investor Podcast - Real Estate Investing, Building Wealth, Faith Based

Wealthy Investor - Real Estate Investing, Real estate, Build Wealth, Faith Based

Flipping Houses, Rental Property, Real Estate, Business, Wholesaling Real Estate, Investing, Real Estate Investing

2.5884 Ratings

🗓️ 22 May 2024

⏱️ 11 minutes

🧾️ Download transcript

Summary

Why struggling real estate agents should do this!---If you would like to work with Brian on flips, wholesales, or coaching, check out this page - https://www.briandavila.co/home-7863Follow Brian on Instagram - https://www.instagram.com/thebriandavila/Follow Wealthy Investor on Social Media: https://www.instagram.com/_wealthyinvestor https://www.tiktok.com/@_wealthyinvestor---

Transcript

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0:00.0

Right now. I think real estate agents are struggling. The NAR just came out and that whole new lawsuit

0:09.7

I think is going to wipe out agents. I've had brokers call me and say,

0:14.7

dude, you know, we're thinking about getting into flipping and wholesaling and

0:17.6

I'm like, I've been telling agents forever.

0:20.0

Yep. Give up your license and get into flipping and wholesaling. Yeah. Yeah, it's funny that you said that there's so many agents do that are now like do you have a course? You have a course can I sign up? No, you can't because I don't have one and you should have signed up when we did have it.

0:35.2

Yeah, it's telling you it's time to do something and you know what to listen to me.

0:38.2

Yeah, right, but I'm really excited dude. I think it's the purge of the real estate industry really the purge yeah so you know more you know more than I do about it like can you just go over the details yeah I mean you know as you guys all know the National Association realaltors dropped a bomb right they are pretty

0:54.0

much said that buyers agents will in essence there will no longer be compensation for a

1:01.3

buyers agent on the

1:02.6

the MLS. So right now as an agent you can go on if you're looking for a house for sale

1:06.9

right or you're looking for your client you see a listing it says how much

1:10.7

you're being paid as a buyer's agent right?

1:12.8

BAC.

1:13.5

You can see on there it's 2% 2.5% 3%.

1:16.5

That's no longer gonna show up anymore.

1:18.4

And they're also saying that the buyers have to sign

1:21.3

a buyer-broker agreement that states what the agent is going to be paid for representing that buyer.

1:29.0

Yeah. Now here's the issue. Let's just say that a seller is not paying any

1:35.1

buyers agents commission, right? Because we'll full circle this. But let's just

1:39.8

say that a buyer's agent is not paying any, or a seller's not paying any buyer's agent's commission and you are an agent

1:46.0

and you have me sign a buyer brokers agreement that says and what a buyer broker

1:50.1

agreement is is pretty much saying that Brian's my agent and I'm going to sign a form that says

...

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