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The Moment They Realized Their House Wasn't An Investment 😳

@wealth.mindset2024

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Why it worked

The video likely resonated because it addresses a common financial pain point for homeowners: the unexpected and substantial costs of selling a property. The relatable discussion of commissions and fees, combined with the stark realization of financial implications, creates an engaging narrative.

Summary

The video discusses the significant costs associated with selling a house, particularly the realtor commissions and other fees that can amount to tens of thousands of dollars. One speaker expresses a desire to acquire land instead of a house due to these expenses, while the other highlights the financial burden and the realization that a house might not be a straightforward investment.

Structure

1Explaining selling costs (commissions, title fees)
2Discussing the typical 6% realtor commission
3Mentioning negotiation possibilities and past rule changes
4Highlighting the seller often pays the full commission
5Calculating potential costs for selling a house
6Contrasting house selling costs with acquiring land

On-screen text

The Moment They Realized Their House Wasn't An Investment 😳 YOU'D HAVE TO WRITE THIS HOUSE, SO YOU'RE BEHIND. WE HAVE TO. WHY WOULD WE HAVE TO WRITE A CHEQUE THE CLOSING COST AND ALL THAT? EVERYTHING? THAT? EVERYTHING? YEAH, EVERYTHING. COMMISSIONS, THE TITLES. YEAH. 6%, TYPICALLY TO THE REALTOR. THAT'S SELLER USUALLY PAYS FOR THE FULL 6%. YOU CAN NEGOTIATE THAT NOW WITH SOME RULES THAT WERE CHANGED OR LIKE A WHAT, ONE OR TWO YEARS AGO, YOU COULD GET 3% TO BE PAID BY THE SELLER. FULL SIX. 💯 BUT IT'S. IT'S NOT REALLY A, UH. BUT IT'S NOT REALLY A X SO YOU'RE LIKELY GONNA HAVE TO EAT THAT COST. HOUSE TOO. I DON'T. WHAT'S THE DISAGREEMENT ON THAT? I WANNA GET LAND. I WANNA GET LAND. I'M OKAY WITH THE LAND. BUT THIS WOULD BE THE COMMISSION YOU'D HAVE PLUS OTHER FEES. YOU POSITION IN THE HOUSE OF, UH. OF $11,000? SO YOU'D HAVE TO WRITE A CHECK FOR MAYBE $20,000 TO SELL THIS HOUSE. COME UP WITH $20,000 TO SELL THIS HOUSE. THAT'S CRAZY. AND YET FORECLOSURE FOR SALE YOU'RE BEHIND ON THE HOUSE OF WHICH THREE KIDS LIVE IN. THIS IS PATHETIC. GO GET A JOB. GO GET