Lately, it feels like everyone’s saying Australia is just a few steps behind the U.S. when it comes to real estate; especially with buyer’s agents. But I’ve always wondered… is that actually a good thing?

In this episode, we're joined again by David Sidoni, host of the How to Buy a Home podcast, and we pull back the curtain on how real estate really works in the U.S. We talk about agent commissions, who pays who, what the buyer’s agent actually does, and how a recent $5 billion lawsuit is turning the whole system on its head.

David explains why the traditional model of sellers paying both agents’ fees is being challenged, and what that means now that buyers might have to start footing the bill themselves. We also get into the wild west of agent licensing, what it takes (or doesn’t take) to become an agent in the States, and how portals like Zillow are trying to grab their piece of the pie, often at the buyer’s expense.

It’s a fascinating look at a system that’s often pitched to us as “better,” when in reality… it’s a bit of a mess. If you’ve ever been told that Australia should follow the U.S. model, this conversation might have you rethinking that entirely.

Episode Highlights:

00:00 - Introduction

01:13 - Who is David Sidoni?

02:00 - The basics: How real estate deals actually work in the U.S.

05:37 - Do you really need a buyer’s agent in America?

06:51 - Can one agent represent both buyer and seller?

07:37 - If you skip a buyer’s agent, should you get a discount?

10:01 - Are buyer’s agents steering clients based on commission?

14:05 - Are buyer’s agents advocates or just dealmakers?

16:14 - Why are there so many real estate agents in the U.S.?

19:16 - Are U.S. buyer’s agents door openers or true advisors?

22:26 - Zillow exposed: Are you really talking to the right agent?

23:55 - How to find a genuine buyer’s agent in a new city

24:03 - What’s the difference between a listing agent and a buyer’s agent?

27:21 - The lawsuit that shook U.S. Real estate: What really happened

44:58 - How mortgage approvals and property valuations work in the U.S.

49:03 - Does America really do property auctions?

53:12 - Interest rates, refinancing, and the ‘locked-in’ homeowner crisis

58:05 - Are first-time buyers stuck on the first rung of the property ladder?

58:34 - David Sidoni's property dumbo

About Our Guest:

David Sidoni is a real estate expert and host of the How to Buy a Home podcast, where he helps first-time buyers navigate the confusing world of property with clear, practical advice. With nearly two decades of experience and over 1.7 million podcast downloads, David is known for breaking down complex real estate concepts and advocating for buyers who often feel overwhelmed or overlooked. His mission is to empower everyday people with the knowledge and confidence to make smart home-buying decisions without the industry jargon or pressure.

Connect with David Sidoni:
LinkedIn https://www.linkedin.com/in/davidsidoni
Instagram https://www.instagram.com/howtobuyahomepodcast/
Website https://howtobuyahome.com/

Resources:
Visit our website https://www.theelephantintheroom.com.au
If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au
Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
Work with Veronica: https://www.veronicamorgan.com.au
Looking for a Mortgage Broker? https://www.alcove.au
Work with Chris: chrisbates@alcove.au

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!
Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast
Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765

Lately, it feels like everyone&rsquo;s saying Australia is just a few steps behind the U.S. when it comes to real estate; especially with buyer&rsquo;s agents. But I&rsquo;ve always wondered&hellip; is that actually a good thing?
In this episode, we're joined again by David Sidoni, host of the How to Buy a Home podcast, and we pull back the curtain on how real estate really works in the U.S. We talk about agent commissions, who pays who, what the buyer&rsquo;s agent actually does, and how a recent $5 billion lawsuit is turning the whole system on its head.
David explains why the traditional model of sellers paying both agents&rsquo; fees is being challenged, and what that means now that buyers might have to start footing the bill themselves. We also get into the wild west of agent licensing, what it takes (or doesn&rsquo;t take) to become an agent in the States, and how portals like Zillow are trying to grab their piece of the pie, often at the buyer&rsquo;s expense.
It&rsquo;s a fascinating look at a system that&rsquo;s often pitched to us as &ldquo;better,&rdquo; when in reality&hellip; it&rsquo;s a bit of a mess. If you&rsquo;ve ever been told that Australia should follow the U.S. model, this conversation might have you rethinking that entirely.
Episode Highlights:
00:00 - Introduction
01:13 - Who is David Sidoni?
02:00 - The basics: How real estate deals actually work in the U.S.
05:37 - Do you really need a buyer&rsquo;s agent in America?
06:51 - Can one agent represent both buyer and seller?
07:37 - If you skip a buyer&rsquo;s agent, should you get a discount?
10:01 - Are buyer&rsquo;s agents steering clients based on commission?
14:05 - Are buyer&rsquo;s agents advocates or just dealmakers?
16:14 - Why are there so many real estate agents in the U.S.?
19:16 - Are U.S. buyer&rsquo;s agents door openers or true advisors?
22:26 - Zillow exposed: Are you really talking to the right agent?
23:55 - How to find a genuine buyer&rsquo;s agent in a new city
24:03 - What&rsquo;s the difference between a listing agent and a buyer&rsquo;s agent?
27:21 - The lawsuit that shook U.S. Real estate: What really happened
44:58 - How mortgage approvals and property valuations work in the U.S.
49:03 - Does America really do property auctions?
53:12 - Interest rates, refinancing, and the &lsquo;locked-in&rsquo; homeowner crisis
58:05 - Are first-time buyers stuck on the first rung of the property ladder?
58:34 - David Sidoni's property dumbo
About Our Guest:
David Sidoni is a real estate expert and host of the How to Buy a Home podcast, where he helps first-time buyers navigate the confusing world of property with clear, practical advice. With nearly two decades of experience and over 1.7 million podcast downloads, David is known for breaking down complex real estate concepts and advocating for buyers who often feel overwhelmed or overlooked. His mission is to empower everyday people with the knowledge and confidence to make smart home-buying decisions without the industry jargon or pressure.
Connect with David Sidoni:
<ul>
<li aria-level="1">LinkedIn <a href="https://www.linkedin.com/in/davidsidoni">https://www.linkedin.com/in/davidsidoni</a></li>
<li aria-level="1">Instagram <a href="https://www.instagram.com/howtobuyahomepodcast/">https://www.instagram.com/howtobuyahomepodcast/</a></li>
<li aria-level="1">Website <a href="https://howtobuyahome.com/">https://howtobuyahome.com/</a></li>
</ul>
Resources:
<ul>
<li aria-level="1">Visit our website <a href="https://www.theelephantintheroom.com.au">https://www.theelephantintheroom.com.au</a></li>
<li aria-level="1">If you have any questions or would like to be featured on our show, contact us at:&nbsp;The Elephant in the Room Property Podcast - <a href="mailto:questions@theelephantintheroom.com.au">questions@theelephantintheroom.com.au</a></li>
<li aria-level="1">Looking for a Sydney Buyers Agent? <a href="http://www.gooddeeds.com.au/">https://www.gooddeeds.com.au</a></li>
<li aria-level="1">Work with Veronica: <a href="http://www.veronicamorgan.com.au">https://www.veronicamorgan.com.au</a></li>
<li aria-level="1">Looking for a Mortgage Broker? <a href="https://www.alcove.au">https://www.alcove.au</a></li>
<li aria-level="1">Work with Chris: <a href="mailto:chrisbates@alcove.au">chrisbates@alcove.au</a></li>
</ul>
Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!
<ul>
<li aria-level="1">Subscribe on YouTube: <a href="https://www.youtube.com/@theelephantintheroom-podcast">https://www.youtube.com/@theelephantintheroom-podcast</a></li>
<li aria-level="1">Subscribe on Apple Podcasts: <a href="https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719">https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719</a></li>
<li aria-level="1">Subscribe on Spotify: <a href="https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765">https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765</a></li>
</ul>

Who's really in control when you buy a property?

The Elephant In The Room is where the things that no one wants to talk about, actually get talked about.  

Veronica Morgan, real estate agent, buyers agent and co-host of Foxtel’s Location Location Location Australia & Chris Bates, financial planner, mortgage broker and wealth coach have joined forces to find out what’s really going on in the world of real estate.

Veronica and Chris talk to property owners and buyers every day in their respective lines of business. They’ve observed a wide spectrum of confidence in people’s decision making ability when buying and selling property, often to the detriment of the individuals concerned. They are both fascinated by consumer behaviour and together they’re going to uncover who’s really making the decisions when you buy a property.

In each episode they get into the psyche of buyers, agents, auctioneers and other industry experts to learn the truth about how buyers are influenced and why they do the things they do. In every episode you’ll learn from the mistakes of a “property dumbo” as well as Chris & Veronica’s “elephant rider bootcamp” training session.

The plan? This property podcast has been created to help us all make better property decisions!

We talk about the things no one wants to talk about in the Property Market

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