So I thought I would drop a line to give you my thoughts on all the new laws coming into fruition over July and August nationwide.
First, a little backstory. Down in Missouri there was a class action lawsuit where apparently realtors were steering their clients towards houses where they would get paid more. This went to a national lawsuit and because of it, realtors can no longer put on the Multiple Listing System what their listings will pay a buyer’s realtor.
A few of my thoughts. I have no idea how realtors were able to do this. It has been my experience that my clients choose the houses they want to go look at. I give them my thoughts, expertise and advice. And then the client chooses which house they want to buy. And I help them buy it legally, safely, and with eyes wide open. Me telling my clients which house to buy doesn’t seem like something that happens.
Second, this really feels like it takes away rights from sellers. If I am selling my house, and I want to pay the buyer’s realtor (because then I have a much bigger pool of buyers), I am no longer allowed to say that on the MLS.
Third, I can say it literally everywhere else. I can put it on my own website. I can put it on a sign in my yard. I can put it everywhere, except where people are looking for listings. Doesn’t that seem a bit ridiculous?
And the grand takeaway is that this won’t really change much. I now need to call the listing agent for them to tell me what the seller is wanting to pay. And I now need to fill out more paperwork. And (exactly like before this law came into existence), everything is negotiable. Always has been.
The second law that is happening is that now, if you want to go see any house, you have to have a contract with your realtor. Before, you could just call me and say I want to see 123 Main Street, and then we would go see it. Now, you have to sign a contract with me before that will happen. Again, more paperwork and just general work for me. Not much of a change for you.
You can probably see my opinion of these changes. I am not a huge fan, and I generally think they take away from the consumer. Just like changes to the closing statements a few years ago (which also seemed to take away from the consumer), people will still buy and sell houses. Having a Realtor will still be greatly to your benefit. And I am not going anywhere. I want to help.
As always, I love doing what I do. I love looking at the market, and I love building relationships with the people I get to help. Let me know how I can help you. Call me today. You can reach me at 515.724.3163 or RyanLynch@KW.com. I am good at what I do, and I want to help you.
~Ryan Lynch
