Local Logic’s Post

ESPC's September House Price report is out - No summer lull here! A really impressive set of results from our ESPC Solicitor Estate Agents - Listings up 13.5% Sales up 19.3% And in a sign of real confidence in the market - 84.5% of all properties listed were on an 'offers over ' basis. As predicted we will are seeing a strong run in to the end of the year. #ESPC #Housepricereport #Housingmarket

In the second of a three-part series, Real Estate Standards Organization (RESO) CEO Sam DeBord offers a look at the MLS outside the U.S. and Canada. #realestatenews #realstate #CEOinsights #futureofrealestate

The debate over the MLS and Clear Cooperation Policy (CCP) continues to heat up. Compass CEO Robert Reffkin recently pointed to a study suggesting that 35% of would-be home sellers prefer to market off the MLS, arguing that agents are forced to “breach their fiduciary duty” by adhering to CCP rules. He challenges the notion that consumers should be dictated to by unelected officials. But a closer look at the 1000watt report, which was cited in Reffkin’s claims, paints a more nuanced picture. While 35% of prospective sellers initially favored the off-MLS option, this preference shifted dramatically once they were informed that homes marketed off the MLS tend to sell for 15% less. After learning this, nearly 75% changed their minds and opted to go on the MLS. This isn’t just a debate over data—it’s a question of transparency and choice. The market must adapt to ensure that sellers are making informed decisions, not just reacting to headline-grabbing narratives. The future of the CCP is uncertain, but one thing is clear: we need policies that provide true consumer choice and foster a fair and open market. As an industry, it’s our responsibility to navigate these complexities with integrity and a commitment to what’s best for our clients, not just what sounds good on social media. Let’s move beyond soundbites and focus on the facts. #RealEstate #ClearCooperation #MLS #HousingMarket #ConsumerChoice

In this video, we dive into a thought-provoking analysis of the National Association of Realtors' Clear Cooperation Policy (CCP) and its impact on the real estate market. Drawing from Phillip Cantrell's insightful commentary, we explore whether the CCP truly levels the playing field for small brokerages or if it ultimately hinders consumer interests. Discover the enforcement challenges, the disconnect between consumer needs and broker regulations, and the urgent call for a more flexible, member-driven approach. Join us as we discuss the future of real estate regulations and what they mean for buyers, sellers, and agents alike! Don't forget to like, subscribe, and share your thoughts in the comments! #realestateagent #realestate #realtor #realestatenews #realestatemarket

Have you heard about the latest shift in real estate commissions? It's a game-changer! 💰 As of August 17th, 2024, the traditional rules are out the window. Here's my prediction on where this could be heading: 🌟 - More transparency: With the changes in commission structures, transparency in pricing is likely to become a key focus for industry players. Buyers and sellers can expect clearer communication on fees and charges. - Shift in agent dynamics: The revised regulations might lead to a reshuffling of roles and responsibilities among real estate agents. This could impact how agents negotiate deals and work with clients. - Rise in competition: As the industry adapts to new commission standards, we may see an increase in competition among agents and brokerages. This could result in more innovative services and offerings for clients. Exciting times ahead in the real estate market! What do you think these changes mean for the industry moving forward? Let's discuss in the comments. 🏡✨ #RealEstate #IndustryShift #MarketTrends

In the third of a three-part series, Real Estate Standards Organization (RESO) CEO Sam DeBord explains why rules are critical to the MLS and how shifts in the industry influence MLS functions. #realestatenews #realestate #CEOmindset #futureofrealestate

🚨 Reminder: It's August. Changes are happening this month. Make sure you are ready! 🚨 Important changes are coming soon as part of the NAR Settlement. Stay informed and prepared to continue your business effectively with these essential resources: 🔹 National Association of REALTORS® - This page provides essential background information on the current events related to NAR and offers tools to help you discuss these changes. - NAR Settlement Facts: https://lnkd.in/gVPFCbpR 🔹 California Association of REALTORS® (C.A.R.) - Access guidance on new forms and the latest industry changes. Find resources to help you understand how to comply with and compete under the new regulations. - C.A.R. SmartZone: https://lnkd.in/gHZQUf7x - Broker Compensation Compliance: https://lnkd.in/gDeE3UqU - Open House in a Post-NAR Settlement World: https://lnkd.in/gNwcSqzr 🔹 California Multiple Listing Service (CRMLS) - Find information on preparing for the upcoming rules changes. - CRMLS Resource Page: https://lnkd.in/gUSSpntm 🔹 North San Diego County REALTORS® - Watch past webinars on topics such as Commission, Compensation & MLS updates, and more. - NSDCR YouTube Page: https://lnkd.in/gzzxmi-U Stay proactive and explore these resources to be well-prepared for the changes! 📌 All links can be found on our website's alert bar. Use the link in our profile to navigate there easily! #NSDCREALTORS #FriendsInRealEstate

🏡 Navigating the New Landscape: The NAR Ruling's Impact on Real Estate Investors On March 15, 2024, the real estate world witnessed a significant shift with the National Association of Realtors (NAR) reaching a landmark settlement that will transform the brokerage commission structure as we know it. This pivotal change allows for upfront negotiation of fees between agents and their clients, eliminating the traditional embedded commission fees from real estate transactions. This move comes in response to critiques that the previous commission model may have encouraged agents to direct clients towards higher-priced homes to increase commission earnings. Key Highlights of the NAR Ruling: 🤝 Transparent Negotiations: Buyers and sellers can now negotiate agent fees directly, fostering a more transparent and equitable relationship. Removal of Commission from MLS: The practice of including brokerage commissions in MLS listings will cease, aiming to dismantle any incentives for agents to favor more expensive properties. 💸 Potential for Lower Commissions: With the prohibition of listing agent compensation in centralized listing portals, real estate commissions are anticipated to drop by 25% to 50%, according to TD Cowen Insights. 🔄 Shift in Brokerage Models: This ruling is expected to catalyze the emergence of new brokerage business models, offering low-cost options and varying levels of service tailored to the client's needs. Implications for Real Estate Investors: For investors, this ruling adjusts the calculus of buying and selling properties. The potential reduction in commission costs could make real estate investments more appealing, as lower transaction costs directly impact overall returns. Additionally, the shift could stimulate a more competitive marketplace, with investors and homebuyers alike benefiting from increased options and flexibility in choosing how they engage with real estate professionals. However, this change also prompts a strategic reevaluation. Investors need to consider the evolving landscape, particularly how the disentanglement of commissions might influence property valuations and the buying/selling process. The new norm encourages a more discerning approach to selecting agents and negotiating deals, underscoring the importance of due diligence and informed decision-making in every transaction. As we step into this new era, EM Capital remains committed to navigating these changes, leveraging our expertise to uncover and capitalize on unique opportunities in the real estate market. We believe that with change comes opportunity, and we are poised to adapt our strategies to continue delivering exceptional value to our investors and partners. #RealEstateInvestment #NARRuling #MarketEvolution #StrategicInsight #singlefamilyhomes #singlefamilyrentals #currentevents

When you start a LinkedIn post the prompt is "𝘞𝘩𝘢𝘵 𝘥𝘰 𝘺𝘰𝘶 𝘸𝘢𝘯𝘵 𝘵𝘰 𝘵𝘢𝘭𝘬 𝘢𝘣𝘰𝘶𝘵?" Today, we want to talk about the recent proposed 𝐍𝐀𝐑 𝐬𝐞𝐭𝐭𝐥𝐞𝐦𝐞𝐧𝐭, that I'm sure you've seen headlines for. Now, it's important to know, these changes are pending court approval and if approved, will be effective in mid-July 2024. The changes might seem overwhelming, but it's crucial to understand their implications for both realtors and clients alike. 𝐑𝐞𝐦𝐨𝐯𝐚𝐥 𝐨𝐟 𝐭𝐡𝐞 𝐂𝐨𝐦𝐦𝐢𝐬𝐬𝐢𝐨𝐧 𝐅𝐢𝐞𝐥𝐝 𝐢𝐧 𝐌𝐋𝐒: One significant change is the removal of the commission field in the Multiple Listing Service (MLS). This shift emphasizes the value and services realtors provide, fostering transparency and fairness in transactions. 𝐁𝐮𝐲𝐞𝐫 𝐁𝐫𝐨𝐤𝐞𝐫 𝐀𝐠𝐫𝐞𝐞𝐦𝐞𝐧𝐭 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭: Another key change is the requirement for a buyer broker agreement when representing a buyer. This ensures clarity and protection of interests for all parties involved, outlining responsibilities clearly. This has been a standard of practice for Cherrywood Realtors and we'll continue being transparent and honest with our clients, especially when it comes to where money is going. 𝐂𝐨𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐯𝐞 𝐂𝐨𝐦𝐦𝐢𝐬𝐬𝐢𝐨𝐧𝐬 𝐚𝐧𝐝 𝐂𝐨𝐦𝐦𝐢𝐬𝐬𝐢𝐨𝐧 𝐒𝐩𝐥𝐢𝐭𝐭𝐢𝐧𝐠: Despite these adjustments, cooperative commissions and commission splitting between selling and buying agents remain permissible. This enables realtors to collaborate effectively while ensuring fair compensation for their expertise. In essence, these changes are aimed at enhancing transparency, fairness, and ultimately, the client experience. As realtors, our commitment to serving you remains unwavering. We're here to navigate these changes together and continue providing exceptional service every step of the way. If you have any questions or concerns about these changes or anything related to real estate, please feel free to reach out. Your trust and confidence are paramount, and we're here to support you through every aspect of your real estate journey. #realestate #informed #realestatebrokerage

A panel of industry veterans debated the policy and discussed various scenarios for residential real estate should the CCP be repealed. #realestatenews #realestate #homesearch #clearcooperation #realestateagents