The new commission rules as per the NAR Settlement in mid August are now in full force. It's impressive to see how most agents are nimbly navigating and evolving to meet the new requirements and do business as usual. Now more than ever it's important to develop a mindset that embraces - and makes the most of - the still-new commission rules. One effective way to do this is to double-down on your next Open House. The Open House marketplace can create opportunities to bring in more qualified buyers. Although the new commission rules add the burden of ever-increasing paperwork, it's possible to turn those lemons into lemonade. Here's how to make the most of the new rules on your next Open House: … [Read more...] about How to Make the Most of the New Rules on Your Next Open House
real estate market
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
How to Leverage the New Buyer Agreements
Today's real estate landscape is radically evolving due to the recent NAR Settlement. This is particularly true for how you as an agent working with buyers should handle the newly mandated Buyer Agreement (abbreviation in this article will be BA). Although BAs are not new, they were often overlooked in practice, except in some states that required them by law. As a result of the NAR Settlement, BAs will now be required for all "MLS participants" that are "working with" buyers. Come August, you as a buyer's agent must have your buyers sign an agreement of compensation before you can show them homes. And the biggest change is that it is now the buyer's responsibility to pay you directly, rather than the seller. This represents a radical change in the industry which has for decades placed … [Read more...] about How to Leverage the New Buyer Agreements
How to Close Your Listings Faster and for More
Think about it: you're a buyer in today's competitive housing landscape, competing against a multitude of other buyers where there's tight inventory and high interest rates. There are less homes than ever to choose from and most are more expensive than the year before. Or, how about this: you're a seller with a critical sell timeline and you want top dollar for your life's biggest investment. But buyers are playing a waiting game, sidelined by high interest rates and high prices. The last thing you want is for your home to languish on the market for too long. Whether you're a seller, a buyer, or an agent, it is more challenging than ever for everyone to get what they need. This is a never-seen-before market with post-pandemic factors still at play. But believe it or not, a seller's home … [Read more...] about How to Close Your Listings Faster and for More