You may have seen in the news, this whole thing about new commission rules for real estate agents What does it all mean? We're gonna talk about that and what it means for buyers and sellers. So, two things have happened. Number one is that, no longer can sellers advertise that they're gonna pay a commission to a buyer's agent. It used to be that you go on the multiple listing service and agents would say, oh, if I help somebody buy this house, I'm gonna get 2.5% of the commission or 3% or whatever, you can't do that anymore. The second thing is, is that, buyer agents have to have an agreement in writing with buyers before they go out and show homes. And it's a good thing because it means that everybody knows what the buyer's agents are supposed to do and what the buyer's agents are gonna get paid and who's gonna pay them. So, how is this different if you're a buyer? Well, the only thing that's new is that if you're a buyer and you wanna go see some houses for sale and you call up an agent that you know or even don't know. They're gonna say here's the deal, it's a piece of paper. You need to sign it first before I let you in this house. And I, the buyer's agent, am gonna get paid this much amount of money when the place closes and you, buyer, are on the hook to pay me whether it be 2%, 2.5%, 3%, whatever, it's all negotiable. Now, the thing is, is that, that buyer's agent is gonna say to you the buyer, it's OK because we're gonna ask the seller to pay my buyer's agent commission from the proceeds of the sale. And that's still what's actually happening. That's what happened before and that's what's happening now is that sellers realize that you have to incentivize buyer's agents a little bit to get paid in order to help sell their house. Now, if a seller says, oh, I'm not paying a buyer agent commission anything, well, then you as the buyer are, in fact on the hook for that buyer agent commission because they're working hard for you. They deserve to get paid when you get the house that you want. But here's the thing, let's think about it from a seller's perspective. The seller really doesn't care if a buyer agent gets paid or not. What they totally care about more than anything else is their net; what they walk away with. And if let's say the house is worth a million bucks and you offer them a million bucks and they're willing to say, pay a buyer's agent because they got what they wanted, then that's all good. Now, if you give them less than a million dollars and the buyer's agent says. “I want 3%,” seller might say, “you know, I didn't get what I want for the house and now I have to pay a buyer's agent too? I don't really want to do that.” So, things have definitely changed. Everything is negotiable, which is actually how things should have been for, I don't know the last 50 years, but the real estate industry just got so entrenched itself that the rules need to be changed. It's better for buyers, it's better for sellers, and it's better for real estate agents in my opinion. If you have questions about what this all means and if you're just getting started, just message me and I can tell you more and thanks for watching.