Shark Tank’s Barbara Corcoran, a real-estate broker and investor, told Fox Business that if mortgage interest rates were to drop one percent, buyers sitting on the sidelines would “come out in droves”, driving up prices substantially. “By waiting, I don’t think you’re going to gain anything; you will likely pay more (for your home). Prices will go through the roof.”
Nationally, housing is so scant that for every home “there are 10 buyers waiting to pounce on a property,” Corcoran said.
Corcoran said that the ballyhoo made over changes likely to come over real-estate agent commission compensation is way overblown. “Nothing much is going to change at all except there will be better communication” between agents and their clients, she said. Both buyer-agent and listing-agent commissions will likely remain unchanged, that “commissions always were negotiable.” Buyers expecting sellers to pass any savings in real-estate commissions to them are wrong. “Sellers will always seek the most they can get for the homes.”
The only change of substance: Realtor commissions will no longer be shown in MLS listings.
