Buying or Selling Homes? Here is What You Need to Know About Realtor Commission Changes |Mike Hickman

New regulations for real estate commissions are set to take effect on August 17. Siyamak sits down with Mike Hickman, President and CEO of Seven Gables Real Estate, to explain the details of this new ruling and why it will have a significant impact on how we buy and sell homes in California in the future.

0:00 Intro
1:36 Real Estate Commission Structure
3:02 Results of Lawsuit Settlement
7:10 Impact of Settlement on Buyers
13:07 Buying Without an Agent
15:18 Understanding the Buyers Perspective
21:10 Advantages for Buyers
22:59 Impact on Real Estate Agents
25:35 How Real Estate Agents Receive Commission
30:03 Enforcing the New Laws
32:45 Impact on Values in the Industry
33:35 Advice for Buyers Not Using an Agent
35:10 Relationship Between Buyer and Agent
37:18 Flat Fee Compensation
40:09 Current State of Real Estate Market
44:09 Historic Changes & Benefits to Consumer