All right, so I'm sitting here, just finished with lunch, and I wanted to go over something I saw on Twitter today. A nice lady out of Virginia, an agent, was complaining that she put in an offer on a property—one of four offers. Two of the offers had buyer agent commissions paid by the buyer, and two of them had seller compensation paid by the seller. She was lamenting how it really wasn't fair for her buyers. They never really stood a chance because they were asking for seller concessions.

This is the new reality, unfortunately. It also matters what percentage one uses. For instance, if someone asks for a 2.5% seller concession versus a 2.7% seller concession, those are two different offers, and the seller is likely to take the offer with the least amount they'd have to pay.

Is it fair? I don’t know. I’m not in this discussion for fairness. Is it the right thing to do for buyers and sellers of property? I’m not sure. All I know is that the National Association of Realtors has entered into a settlement, and it has made things very difficult to get deals done.

If I were a buyer looking to buy a property, I would look for seller commission or seller compensation in a deal—unless I really, really wanted the house more than the four other people making offers. But I want you to understand that nothing is set in stone here. There's no real certainty now that we've had this settlement, and it's going to be a barrier to getting deals done. It doesn't make any sense, and it's not benefiting anyone.

The people most likely to be harmed by this are the ones who are supposed to be protected—the buyers who can't afford to pay closing costs without help from the seller. They're going to lose out on property after property. But at the end of the day, it’s always going to be the best-capitalized clients—like your best buyer who can afford to pay the buyer commission and doesn’t need any seller concessions—they will have a better chance. It’s just like a college kid whose parents can afford the down payment. People with money always win. I hate to throw that your way, but having money works, especially when you're buying things. Not having enough money is a problem—it makes everything difficult.

That was my bird. But you know, I’ve always believed that, at the end of the day, the house you get is the house you deserve. Take that however you'd like.

Anyway, I just wanted to put out a quick video to let you know that this is an issue. It will be interesting to see how it plays out over time. Many buyers and sellers are confused, and the settlement hasn’t helped them. Discussing it with their real estate agent when they buy a house maybe three times in their lifetime isn’t really working.

And I’m leaving the bird noise in there—I'm stuck with them. I bought them for my daughter when she was, I don't know, like five or six, and they've been living all this time, so they're just going to be in the videos. With that, I’m heading out. Thank you for watching, and let me know what you think. Do you think the rules are fair for everyone in the game right now? I'd be interested. Bye.