The end of real estate agents

[invalid]

Real estate agents are all crooks

video doesn't have anything to do with real estate agents. it's about developers and homebuilders in league with wall street.

but oan, it highlights why i never cared for residential communities in the south or new residential communities in general. even in communities marketed as "luxury" the homes look of cheap construction and the community aesthetic "souless". as a starter home, would take a renovated stone or brick chicago bungalow built in 1910 that has stood the test of time any day to this bullshyt. brick work, spanish terracotta tile roof, prairie-style windows....craftsmanship unmatched.

 

[Conjiggle]

Real estate agents are all crooks

Video had absolutely nothing to do with real estate agents…

This was about big builders/developers such as D.R. Horton and their sales reps (who aren’t real estate agents).

In regards to the primary complaints made in the video by the homeowners, it actually sounds like none of them used a Realtor when purchasing their home. At least, not a competent one.

I come across people all the time that think a home inspection isn’t necessary when buying a new construction home. That couldn’t be further from the truth. An experienced Realtor would have advised these buyers to get an inspection done and then ensured that builder address all defective items. That would have prevented the vast majority of issues the owners encountered post closing.

Also, a qualified Realtor would have been able to advise buyer about property taxes. The typical assessment provided by the city/county pre closing is based on the unimproved land. The city/county assess again once the home is sold and that is when the actual taxes are determined.

However, there is a formula that can be used to get a good idea of what taxes will be. So it is not hard to determine if you can actually afford a house or not. But again, it seems that none of the people interviewed in this video had a clue about that because they didn’t have Realtor representation.

 

[invalid]

This was about big builders/developers such as D.R. Horton and their sales reps (who aren’t real estate agents).

But again, it seems that none of the people interviewed in this video had a clue about that because they didn’t have Realtor representation.

i had to look this up because i never heard of dr horton. just saw there are dr horton developments in this region but they're all in the exurbs and our city has 300+ suburban towns. so nowhere near prime inner-ring, middle-ring, or outer ring suburbs or in the city itself which makes me believe these developers get into newer-formed exurban communities with lax building codes.

but with new construction builders like dr horton, apparently, new builds can only be sold by their sales reps who get the commissions, and their sales reps, if they were realtors at one point, lose their license because they can't do any outside sales because of non-compete clauses. so what happens, most new buyers purchase these home without realtor representation because what realtor will represent a buyer without the ability to get their commission fee? and as you said, if a buyer did have representation, they would, at least, catch most of these contractual issues upfront. but noticed i said contractual, because apparently dr horton prevents buyers from bringing in their own inspectors before purchase.

in effect, companies like dr horton completely rig the game in their favour which is a whole new level of corporate scam.

 

[Conjiggle]

i had to look this up because i never heard of dr horton. just saw there are dr horton developments in this region but they're all in the exurbs and our city has 300+ suburban towns. so nowhere near prime inner-ring, middle-ring, or outer ring suburbs or in the city itself which makes me believe these developers get into newer-formed exurban communities with lax building codes.

but with new construction builders like dr horton, apparently, new builds can only be sold by their sales reps who get the commissions, and their sales reps, if they were realtors at one point, lose their license because they can't do any outside sales because of non-compete clauses. so what happens, most new buyers purchase these home without realtor representation because what realtor will represent a buyer without the ability to get their commission fee? and as you said, if a buyer did have representation, they would, at least, catch most of these contractual issues upfront. but noticed i said contractual, because apparently dr horton prevents buyers from bringing in their own inspectors before purchase.

in effect, companies like dr horton completely rig the game in their favour which is a whole new level of corporate scam.

I get what you are saying and you make some good points, but a few things you mentioned aren’t fully accurate.

D.R. Horton has sales representatives that sit on site at the model homes. Their job is to market and sell the homes in their assigned community. In GA, many of those sales reps actually do hold a real estate license, they just aren’t active while working for the builder.

D.R Horton actually does pay compensation to buyer’s agents/realtors. They pay very well and often provide bonuses actually. I would say that the generally prefer transactions in which a buyer agent is involved. When both parties (builder/seller & buyer) all are clear on the contract and the process, it works better for everyone involved in the transaction.

Where these buyers in the video get things confused is when they think the builders sales reps is there to protect the buyers best interest they aren’t. They are there to protect the builders/sellers best interest. It is the buyer’s choice to secure buyer representation. Again, all of the people complaining in this video went through the process being clueless and chose not to have a buyers agent assist.

D.R. Horton and other big builders also have no issue with buyer’s hiring an independent inspector. I have sold well over 100 D.R. Horton homes representing buyers and every single one had an independent inspection done. I would say in about 99% of those transactions, the builder has repaired/addressed every single issue found in the inspection report without issue.

To be clear, I am not here advocating for big box builders. However, in my honest assessment, they make the process as straightforward as can be if all parties involved are knowledgeable and understand how to navigate through the purchase.