Let them eat cake and pay the buyer's agent fees: Or how the recent changes could hurt low-income home buyers and first time buyers.

30 some days have passed since the changes stemming from the NAR Settlement.

I posted earlier about the burden of starting a relationship with a new buyer who is already potentially weary since you know, sales people.... but then add a agency, a abstract topic already, on top of it plus paperwork, like respectfully, we just met!

Now also, imagine you're already scraping together every penny for a down payment and closing costs as many low income home buyers do. Now, instead of those buyer agent fees being wrapped up in the deal (prior to the settlement it was simply a function of the sales price) , the buyer could be held liable for some or all of the commission. Some agents are charging per-showing!

Honestly we will simply have to wait and see how the dust settles.

These are extra expenses many simply can't handle.

Although most first-time home buyers don't use WHEDA the income profile fits well.

If you don't get it search "Kitchen Nightmares Sebastian's Pizza"

Plus, unbundling services could be super confusing for first-time buyers who might not even know what services they need. It's like being handed a menu from Sebastian's

Let's hope that as things settle down, we find ways to ensure everyone has a fair shot at owning a home, no matter the size of their wallet.