What’s up with real estate commissions? Starting in July, we’ll likely see changes in the way buyer’s and seller’s real estate agents are compensated in the wake of a $418 million settlement offered by the National Association of Realtors (NAR). Find out what this may mean for you: https://ow.ly/lF2V50Shhns #homebuying #realestate #NARsettlement

Real Estate Commission Shake-Up: What It Means for Homebuyers and Sellers - https://lnkd.in/guhpCNkX Nevertheless, Kelman sees the settlement as a step toward a more equitable and competitive real estate market. By empowering consumers to negotiate fees and fostering greater transparency, the industry is poised to undergo a fundamental shift that could benefit buyers and sellers alike.

Why Do 90% of Homebuyers Choose Realtors According to the National Association of Realtors? Historically, nearly 90% of homebuyers have opted to work with a real estate agent or broker. And guess what? That figure is unlikely to change anytime soon. Even in this digital age where everything seems to be just a click away, the undeniable value added by realtors remains crystal clear. Here's why this is unlikely to change according to The National Association of Realtors: - Local Expertise: We demystify local markets and neighborhoods, providing invaluable insights. - Access to Information: Extensive info on available homes tailored to your needs. - Financial Guidance: Budget advice and exploration of financing options. - Navigating the Process: Insights into property values, taxes, and regulations. - Skilled Negotiation: Proven track record as skilled negotiators for competitive bids. - Settlement Support: Guiding you confidently through the closing process. - Post-Sale Support: Ongoing support as you embark on homeownership. So, while NAR's proposed settlement agreement may bring about practice changes, one thing remains unchanged: the invaluable role of realtors in helping millions fulfill their dream of homeownership. With specialized knowledge, diligence, and a commitment to our clients' best interests, we're here to make your real estate journey a seamless and rewarding one. I would love to be able to help you next! 🌟 #chinowthandcohenrealtors #RealtorValue #HomeOwnershipDreams #ExpertGuidance #OklahomaRealtor #imyourrealtor

🤯 The Shocking Truth About Your Home's Value: You WON'T Believe How Much Equity You Have! 🤯 The real estate market is constantly shifting, and your home's value might surprise you! Have you ever wondered how much equity you've built up over the years? Dive into the latest insights and discover the surprising amount of home equity you may have gained.  ➡️ https://lnkd.in/gJgYScnd In today's market, who you choose to work with MATTERS. Did you know that a Real Estate Broker holds a higher level of licensing and has undergone advanced training compared to a real estate agent?  That's the level of expertise you get when you work with me. Significant changes have hit the real estate industry as of August 2024.  Are you aware of the new DOJ/NAR settlement rules? Signed representation agreements before showing a house and removed offers of compensation from the MLS are just the beginning. Knowledge matters now more than ever. And remember, real estate commissions are negotiable. Have that conversation with the professional you hire. When you're ready to make your move, don't miss out on maximizing your home's potential. Bookmark EdBrittingham.com and visit frequently for the latest market updates and valuable insights. I'd be honored to apply for the job of guiding you through your real estate journey. Let's connect and discuss your goals! #HomeEquity #RealEstateMarket #MichiganRealEstate #TrustedRealtor #REMAXEclipse #EdBrittingham #KnowledgeMatters #CommissionNegotiable #DOJNAR #NewRules

One of the benefits of being a #homeowner is that you build equity over time. By selling your house, that equity can be used toward purchasing your next home. https://bit.ly/3RDVwPu

As optimism grows for lower mortgage rates, home buyers are navigating significant shifts in commission rules impacting the real estate industry. With the possibility of buyers now bearing fees for real estate agent services, the industry dynamics are evolving. J.D. Power research reveals that 41% of borrowers are engaging with lenders before seeking out a home or real estate agent. Interestingly, referrals are pivotal in lender selection, with 13% citing friends, family, and colleagues as most influential, compared to only 9% influenced by real estate agent recommendations. Adapting strategies to engage with home buyers effectively will be crucial for lenders in this changing landscape. #RealEstate #HomeBuyers #Lenders #IndustryShifts #mortgage #mortgagelending #jdpower

Reminder to First Time Home Buyers and Buyers of Newly Constructed Homes! Starting April 1, 2024, eligible first-time home buyers can now enjoy the first-time home buyer exemption if the fair market value of the property is $835,000 or less, marking a favorable increase from the previous cap of $500,000. This enhancement could provide considerable advantages to buyers, considering that the Property Transfer Tax (PTT) for a home valued at $835,000 would amount to $14,700. Additionally, there's good news for those purchasing newly constructed homes. As of April 1, 2024, qualifying buyers of newly built homes may be exempt from PTT for properties with a fair market value of up to $1,100,000 – an expansion from the previous threshold of $750,000. Moreover, partial exemptions are now available for new builds valued up to $1,150,000. #yvrrealestate #yvrrealtor #firstimehomebuyer #homebuyers #vancouverrealestate #sampsonlowrealestateservices #asksampson

Two new rules regarding real estate transactions have gone into effect this month. Both are expected to increase transparency between clients and REALTORS®. The first requires REALTORS® to clearly outline the terms of their compensation to their clients. The second prohibits REALTORS® from offering cooperative compensation on Multiple Listing Service (MLS) databases. Read on to see how these new mandates impact the Ohio homebuyer and message me for more info! https://lnkd.in/gqQpSdK5 #realestateagreements #listings #realestate #ohiohomebuyers #ohiorealtors

Are you saving up to purchase a home this year? If so, you're likely aware of the various expenses involved, from your down payment to closing costs. But did you know that your tax refund could assist with these expenses? According to Credit Karma, aiming to transition from renting to homeownership requires saving for both closing costs and a mortgage down payment, and a tax refund can kickstart this journey. While the amount of your tax refund may vary, it's encouraging to consider its potential impact. CNET reports an average increase in refund size this year, with Freddie Mac outlining several ways to utilize it for home buying purposes, such as contributing to your down payment or covering closing costs. Partnering with experienced real estate professionals can further guide you on your path to homeownership. Ultimately, your tax refund can be a valuable asset in achieving your homebuying goals. Let's discuss how to leverage it effectively and bring your homeownership dreams closer to reality. 📌You can reach me at: 📱 +941-451-1230 ✉️ luvshackhomes@gmail.com #floridahome #floridarealestate #DreamHome #houseforsale #floridahomes #RealEstateDeal #NewListing #realestatemarket #RealEstate #homebuying #floridarealtors #SmartSelling #floridarealtor #DreamHomeGoals #florida

The main outcome from the real estate pricing fixing settlement is that residential real estate owners and investors are now richer. The immediate financial boost is 1%-4%. Over time that boost could increase to 5% -6% as real estate commissions decline to 0% like stock trading. If you are an owner, it's time to celebrate! If you are a prospective homebuyer, you will likely benefit too.