Paran Homes LLC’s Post

National Association of Realtors spent > $18M in Q4 2023 and > $29M in Q3 2022 on lobbyists (with a total reported spend of $53M in 2023 and $82M in 2022). The organization's franchise is so valuable, in part, because of the central role home ownership plays in our economy (including outsourced retirement security) AND in our cultural narrative and myths which intertwine in a feedback loop favoring distortion and entrenchment (with membership dues and high commission fees driven largesse thrown around in DC as tuckpointing for the mortar). Brokerage services in other developed economies are generally priced at one-half the fees sandbagging homebuyers in America. Until now, the standard six percent commission has defied the gravitational pull and margin-contracting pressure of technology on the industry. No more, perhaps...Seems like so much of the kabuki artifice of the transaction is built into the trope that the seller pays the commission. As though the seller's money doesn't come from buyer... Is the add-on of inflated juicy title insurance the next target to feel the squeeze?

As a result of the National Association of Realtors (NAR) proposed settlement agreement to resolve nationwide claims brought by home sellers, NAR has agreed to to make two practice changes. These changes will be going into effect on 8/15/24. #WisconsinRealEstatePracticeChanges #HowBuyersworkwithRealtors #WisconsinRealtorsAssociation

🚀 What if sellers strategically lower their listing price and reduce commissions to make their homes more affordable? 🛠️ This is where Realfinity comes in. We empower real estate agents to diversify their income streams by embedding mortgage services directly into their offerings. Through our platform, agents can earn up to 1.4% of the loan amount per mortgage! 🏠 It's a win-win: ✅ Buyers benefit from seamless, integrated mortgage services. ✅ Agents strengthen their value proposition and secure new revenue opportunities. Read more about how the real estate landscape is shifting post-NAR settlement in this article from The Washington Post: https://lnkd.in/ehTcWE6H #RealEstate #MortgageServices #PropTech #EmbeddedFinance #IncomeDiversification

🏠 **Major Changes Ahead for the Real Estate Industry** 🏠 The real estate industry is on the verge of a significant transformation, particularly in how agents are compensated. Here's what you need to know: 1. **New Payment System**: Within the next month, the traditional payment system for real estate agents is set to change dramatically . 2. **DOJ Scrutiny**: The Department of Justice continues to scrutinize how real estate agents are compensated . 3. **Legal Challenges**: Multiple lawsuits claim that the current agent payment method inflates consumer costs . 4. **Settlement Reached**: A comprehensive settlement in March aims to resolve most legal disputes . 5. **Negotiating Fees**: The settlement is expected to make it easier for homebuyers to negotiate agent fees independently . 6. **Potential Disruption**: These changes could lead to more buyers choosing to proceed without agents, potentially disrupting the traditional real estate transaction model . These shifts are driven by legal challenges and regulatory scrutiny, aiming to increase transparency and reduce costs for homebuyers by providing more flexibility in agent compensation. Stay tuned as we witness this transformative period in the real estate industry! 🌟 #RealEstate #IndustryChange #AgentCompensation #DOJ #LegalReform #Homebuyers #Transparency #CostReduction https://lnkd.in/gHZjxR-V

Avoid home sale closing delays! Ensure Stewart has all applicable homeowner's association ("HOA") information, including the name of the HOA management company, before closing day. Essentially, a home sale can’t close until outstanding HOA balances are paid out of proceeds from the sale, or the buyer agrees to take on the debt. Realtors should inform their sellers of possible upfront HOA demand costs. #closingtip #escrowservices #stewartcares

Hey real estate agents- did the recent settlement by the National Association of Realtors (NAR) shake you a little? Not to worry at all- you’ve got this! But you have to SELL YOURSELF. With NAR in the news, this is a great opportunity for you to stand out from the crowd. Show the market that you are amazing at your job and that you are a crucial part of the buying/selling process. This is YOUR time to shine!  And, let’s not forget, this settlement doesn't just impact real estate agents. Title companies and lenders, this is your time to step into the spotlight too and partner with the real estate agents to help them navigate this changing time. I truly believe that the future of real estate belongs to those who are ready to see the changes as an opportunity and to use this time to show the world your value. You’ve got this! Need a little push? Grab my book Sell Yourself today! https://lnkd.in/eCyNH4KK

More costs for buyers While the new rules would not prohibit sellers from offering to pay a buyer’s agent on the side, it’s possible many sellers won’t do so. That would mean home buyers will have to foot the bill for their agent’s fees themselves. For a $400,000 house, paying a 3% commission to a buyer’s agent would add $12,000 in extra expenses for an aspiring homeowner, who also has to come up with the down payment, closing costs and other fees associated with purchasing a home. Full Story Below

Equity is the current value of your home minus what you owe on the loan. 🏡📉 And thanks to the ongoing rise in home prices, the average homeowner's equity grew by $28,000. 📈💰 That’s huge. Check out the map above to see how much the typical homeowner gained in our state. 🗺️👀 And if you want to find out how much equity you have, reach out to us and let’s chat. 📞📊 #HomePriceAppreciation #RealEstateAdvice #KeepingCurrentMatters #TopProducer #LuxuryRealEstate #GreaterBostonRealEstate #GreaterBostonHomesForSale #TopRealtorStoneham #StonehamMaHomesForSale #StonehamRealEstate #TopRealtorNewton #NewtonMaHomesForSale #NewtonRealEstate #BestOfTheBest #ThePrestiGroup #Wegotheextrablock.

Choosing the right offer for your home goes beyond just the highest bid. Consider these points for a smoother transaction: - Cash Offers: They bypass loan complications and expedite the closing process. - Minimal Contingencies: Offers with fewer conditions mean a simpler deal and less risk of it falling through. - Qualified Buyers: A well-qualified buyer may present a lower initial offer but be willing to negotiate higher. - Timeline Flexibility: An offer that accommodates your moving schedule can greatly ease the transition. It's essential to weigh the overall benefits, not just the offer amount, to ensure a decision that brings both financial advantage and peace of mind. Lindsay Hill, Broker RE/MAX Ultimate Professionals 815.546.5625 LindsayHillHomes.com #realestateagent #realestatemarket #instarealestate #instarealtor #realestatelife #realestatetipsandadvice #lindsayhillhomes #remaxultimateprofessionals #shorewoodrealtor #willcountyrealtor

Adapting to changes in the real estate industry, including staying informed about NAR's updates, is crucial for all stakeholders involved in property transactions. By navigating the evolving real estate landscape and understanding market conditions sellers and agents can work together to ensure that properties are sold for their true value. Understanding and believing that strategic investments attract more buyers and potentially lead to higher offers is what will make the biggest impact. The real estate market is constantly evolving, and it's important for all parties involved - sellers, buyers, real estate agents, and lenders - to adapt to these changes to capitalize on this latest opportunity.