The Elephant in the Room
The property podcast for the thinking person.

Episodes

Episode 382: Is the U.S. Doing Real Estate Better? Agents, Fees & Buyer Deals Explained

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?

2:00 - The basics: How real estate deals actually work in the U.S.

5:37 - Do you really need a buyer’s agent in America?

6:51 - Can one agent represent both buyer and seller?

7:37 - 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:

Resources:

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Chris Bates