August 17th came and went, the day the NAR Settlement rules fell into place. Everyone agrees it's been a confusing time for agents and consumers alike. Trying to sift through the new rules and be compliant have presented many challenges. Here's one simple solution for the new commission rules: START WITH A BUYER AGREEMENT The NAR Settlement requires agents to use Buyer Agreements (BAs) prior to showing property. The definition of a Buyer's Agent is that you do the following work on behalf of your buyer: The agreement must include a “specific and conspicuous” disclosure of the amount or rate of compensation you will receive. The amount of compensation must not be open-ended and can go lower but never over the agreed upon amount. PUT IT IN THE OFFER Here's where it … [Read more...] about One Simple Solution for the New Commission Rules
Why You Should Care About Appliance Limit Upgrades
If your eyes glaze over when you hear the words "appliance limit upgrades," you are not alone. What even is that? you might be asking yourself. And why should I care? It's a somewhat unexciting topic, to be sure, until you are faced with phone calls from clients you just sold a high-end home to. Unfortunately, that built-in sub-zero refrigerator just broke down and now your clients are faced with a $10,000-$20,000 replacement bill right after closing on their dream house. Not a happy moment. But being able to calmly tell them to call the home warranty company you so thoughtfully chose for them is worth gold. And that is why you should care about appliance limit upgrades. Here's the skinny on appliance limit upgrades: … [Read more...] about Why You Should Care About Appliance Limit Upgrades
How Real Estate Became a “Thing” in the United States
Many of us take for granted our right to own a home. And most of us are also unaware of how government-backed loan programs help us achieve homeownership. Referred to as "The American Dream," homeownership has become a rite of passage in this country. But history tells us widespread property ownership is a fairly recent phenomenon. Today, owning real estate is still recognized as the best way to build intergenerational wealth while also enjoying a secure place to live. Best of all, the right to own property is protected by our U.S. Constitution. Here's how real estate became a "thing" in the United States: … [Read more...] about How Real Estate Became a “Thing” in the United States
What You Need to Know About Today’s Homeowner’s Insurance
Maybe you think knowing about homeowner's insurance shouldn't be part of your job as a real estate professional. But think again. The ability of your clients to obtain and afford homeowner's insurance has a direct impact on real estate transactions. Between 2021 to 2023, homeowner's insurance has gone up an average of twenty percent and continues to rise. Meanwhile, the ability to obtain new homeowner's insurance has gone down by thirty-five percent. Regardless of whether you are working with buyers or sellers, homeowner's insurance can be an obstacle. You can't get a mortgage without one. And even if the property is an all cash deal, no one wants to take such a risk. Here's what you need to know about today's homeowner's insurance: … [Read more...] about What You Need to Know About Today’s Homeowner’s Insurance
Easy Ways to Sell for More with these 8 Key Home Upgrades
It is well known that homes that show well sell well. In order to get "highest and best," your listing needs to sparkle. This can often mean executing key upgrades prior to listing the home so that it's rock-star, show-ready right out of the gate. As such, be prepared to guide your sellers along the upgrade path to achieve the best sales price in the quickest timeframe. That being said, experienced agents also know that not all home upgrades are created equal. This is especially true when it comes to cost and time, both of which are critical factors. Following are easy ways to sell for more with these 8 key home upgrades: … [Read more...] about Easy Ways to Sell for More with these 8 Key Home Upgrades