Rayse’s Post

In another move of transparency by the National Association of REALTORS®, they removed the membership numbers from the website and removed an explanation and warning of more declines by our own economist Lawrence Yun. In my experience, NAR has a record of hiding bad news and not informing members what they're doing. Apprently the more things change at NAR, the more they stay the same. You can't innovate with the same old leadership making the same bad decisions. #NAR #REALTOR #Broker #RealEstate

UNPRECEDENTED GROWTH... NOW 10,000 STRONG NATIONWIDE It is becoming even more obvious to brokerages and agents across the country the unprecedented growth of Lpt Realty. Never before in the real estate industry has it seen this type of growth. Brokerages across the country are hearing more and more about this Florida-based Agency from The Mouse House. There are agents that are on a waiting list eager for LPT to open up offices in their state. Hundreds of Real Estate Teams and Agents alike are on this list in anticipation of having heard about Lpt’s agent-centric "Brokerage for Life" platform. Having been introduced to its lifetime benefits, free resources, encouragement of Agent’s Branding, the company’s commitment and tangible investments in its agent’s success, their future, and the culture that is pervading throughout the company. It was announced in our last Weekly Motivational Monday meeting that LPT has welcomed additional states, bringing the total expansion to 25 states & now 10,000 strong . LPT’s Active Marketing Plan (AMP) is at the forefront of all this excitement. The AMP is disrupting and frustrating brokerages across Florida and is now showcasing its advantages across the U.S. Both sellers and LPT agents are benefiting tremendously as a result, and no one but those of us who have been a part of this from the beginning knew this was coming. “Sooner or later others will CATCH THE VISION and make the move to LPT”. But for those who don't want to wait for some magical moment, you can simply go here, http://rjohnson.lpt.com stroll to the bottom of the page and enter your information on the form, and submit it to get a CONFIDENTIAL, in-depth overview of all that LPT has to offer: http://rjohnson.lpt.com

The NAR Settlement There have been a lot of news articles, headlines, clickbait, in regards to the NAR proposed settlement that was announced on Friday last week. These headlines have caused quite a bit of confusion and I wanted to bring some clarity. I have had several people, clients, fellow agents, and even agents from other brokerages reach out to me wondering what this all means.  First is that this settlement still needs to be approved in federal court, so these proposed changes have not come into effect yet.  Second takeaway is that real estate fees are not going away. Real Estate Professionals offer a service and this service provided has a cost. Most sellers and buyers still want a professional to represent them in the largest transaction of their life.  Third Real Estate fees are and always have been negotiable. This will not change. Each real estate brokerage and agent has the ability to set their own fee, and consumers always have the option to DIY, for sale by owner, self representation. There are more specific details about buyer representation being in writing, and buyer broker's compensation no longer being advertised through the MLS etc. and as I mentioned before these still need to be approved.  If you'd like the real story of what this could mean specific to you, I'd suggest you speak to your trusted real estate professional. And if you don't have one, then I would be happy to have a conversation with you. Elaine Sciacca | DRE #02089683 | 707-344-1891 #solanocountyrealestate #CaliRealtor #Norcal #NARsettlement #realestatelawsuit #buyersagency #buyeragent #FairfieldCA #letstalkaboutit #millenialRealtor #FairfieldRealtor #realestateagent #CaliforniaRealEstate #CaliforniaLife #BayAreaRealtor #sellingyourhome #homesale #beautifulhome #attentiontodetails #listingsgent #sellersagent #HomeExpert #buythehouse #information #realestateinfo #realestatenews

NAR Settlement Post #3: Why The Practice Changes Are Nowhere Near Enough   As mentioned briefly in Post #2 on this topic, the “changes in practices” that are PART of the NAR settlement partially address three important issues. The first of these is excessive fees paid by home sellers. What the settlement actually says and does to address excessive fees: - The settlement removes previous requirements that sellers offer “cooperating commission” to buyers’ agents. However, it does NOT prohibit sellers from making such offers. So seller’s agents will likely continue their historical practice of telling sellers that, if they don’t offer 2.5-3% to the buyer’s agent, their home won’t sell. And, like today, most sellers will want top dollar for their home, be inclined to trust their agents’ recommendations because they only sell every 7-10 years, and likely agree to offer the 2.5-3%. - When offers ARE made, the settlement removes previous requirements that those offers be blanket, unconditional or unilateral. However, it doesn’t say they can’t be. So I expect the pull of the status quo and desire for simplicity will be powerful forces behind continuing to make offers blanket, unconditional and unilateral – and therefore paid regardless of the services the buyer does/does not need, how much work the agent did, or how well they performed it. - It prohibits such offers from being posted on MLS’s or on aggregators that depend upon MLS feeds. It does NOT prohibit sellers’ agents from posting such offers on their brokerages’ websites or to non-MLS affiliated sites. The industry is buzzing about all the ways around this to make it easy for buyers’ agents to see these offers of commission. Any buyer’s agent with an internet connection will know what’s offered and will freely steer their buyers to high commission-paying listings (evidence – REX’s 600 call recordings and much more)   Hence my belief, unfortunately, that “cooperating commission” (otherwise known as collusion) will continue to be offered, steering will remain alive and well and, as a result, fees won’t drop much despite the headlines. Interested in others’ thoughts on this. I would love to be wrong!

✅ High-performing Florida real estate agent, Andy Mandel, transitioned from RE/MAX to eXp Realty, further consolidating eXp Realty's position as the preferred platform for top-tier agents. ✅ eXp Realty continues to disrupt the real estate industry with its pro-agent technology-focused platform. This unique approach encourages agents to build their personal brand and provides top-notch tools, enabling them to achieve substantial success. ✅ eXp Realty is not just a virtual brokerage but a community of agents promoting shared success through its attractive revenue share model that motivates agents to exchange valuable insights and strategies. Andy Mandel, a top-performing Florida real estate agent, made a significant shift by moving from his RE/MAX franchise to align with eXp Realty. Encouraged by eXp Realty's pro-agent environment, Mandel saw enormous potential in the platform's forte to allow agents to nurture their personal brands, equipped with advanced tools to scale new heights of success. The brokerage emphasizes shared success through an innovative revenue share model that motivates agents to exchange experiences and winning strategies, thereby creating an environment of communal growth. With its firm footing in digitization, eXp Realty is spearheading the transformation of the real estate industry, replacing traditional practices with a more empowering and innovative approach. Today, whether it's for individual agents seeking growth or clients looking for a superior real estate experience, eXp Realty is leading the way. Contact me for more information on eXp Realty. 🏘️📲

The 6% commission on buying or selling a home is gone after Realtors association agrees to seismic settlement. The 6% commission, a standard in home purchase transactions, is no more. In a sweeping move expected to dramatically reduce the cost of buying and selling a home, the National Association of Realtors announced Friday a settlement with groups of homesellers, agreeing to end landmark antitrust lawsuits by paying $418 million in damages and eliminating rules on commissions. The NAR, which represents more than 1 million Realtors, also agreed to put in place a set of new rules. One prohibits agents’ compensation from being included on listings placed on local centralized listing portals known as multiple listing services, which critics say led brokers to push more expensive properties on customers. Another ends requirements that brokers subscribe to multiple listing services — many of which are owned by NAR subsidiaries — where homes are given a wide viewing in a local market. Another new rule will require buyers’ brokers to enter into written agreements with their buyers. The agreement effectively will destroy the current homebuying and selling business model, in which sellers pay both their broker and a buyer’s broker, which critics say have driven housing prices artificially higher. By some estimates, real estate commissions are expected to fall 25% to 50%, according to TD Cowen Insights. This will open up opportunities for alternative models of selling real estate that already exist but don’t have much market share, including flat-fee and discount brokerages. #commission #realestate #brokerages #seller #buyer #NAR #lawsuit #settlement #businessmodel https://lnkd.in/gu_jdQJq The 6% commission on buying or selling a home is gone after Realtors association agrees to seismic settlement

Do agents "steer" 🚘 🚓 🚗 🚓 buyers away from properties that pay less 💰 in commission? The subject came up often during the Sitzer-Burnett trial. Witness after witness would say they have never 🙅♀️ and would never 🙅♂️ engage in steering. If their client wishes to see a home, they'd show it to them no matter what their commission was. When an academic analysis of Redfin data came out last year that supported the conclusion that Realtors did in fact steer away from their listings, I received a lot of emails from agents saying the study was 1) bullshit, and 2) Redfin data couldn't be trusted. Well, another discount brokerage, Homie, says in a new lawsuit that Utah Realtors were pretty open about steering 🤥 clients away from their listings. Homie received text messages from NAR-member brokers when the Participation Rule was in effect, claiming they would not show the Homie listing because the buyer's broker commission was only 1.5%. “I could always show it and then negotiate up the BBC in the contract but figured, why go through the hassle when we have three other great listings paying 2.5-4%. Anyway. Please tell your sellers for me,” one text cited in the complaint stated. National Association of REALTORS®, a bunch of corporate brokerages and the local MLS (Wasatch Front Regional MLS) are getting sued. What do you think? Do you believe steering takes place? If so, will the new NAR rules limit or eliminate the practice? Brooklee Han, OLY

Can You Sell Your Home in December?? by Tom Davis Calgary December Real Estate Myth 1.0 You Can’t Sell Your Home During December. *There is an incorrect perception that homes won’t sell during December. *As a result, listing inventory reduces during the month as people either take their homes off the market or wait to list them. *The reality is that serious buyers are still looking during this period, while the tire kickers are distracted. *Homes for sale during this period look homey and festive. *For homeowners concerned about people wanting to view their home just before and just after Christmas it is very simple to change the status to Withdrawn for a period to enjoy uninterrupted time over the holidays, and then immediately put it back to Active. *There is generally a thought to wait until after the holidays and list then. By doing so sellers are likely to then be competing with an influx of newly listed properties, therefore increasing competition for sales. Let’s chat. Tom Tom Davis “Resident Tuscany Realtor” Agent/Associate Broker Century 21 Bamber Realty Ltd. Cell: 403-519-2181 Email: tom.davis@century21.ca Web: tom-davis.c21.ca

I’m sure you’ve been seeing a ton of media surrounding NAR’s proposed settlement; and although change can be scary, you can’t always believe the headlines! Let’s break down the facts of the settlement: • Release of liability: The agreement would release NAR, over one million NAR members, all state/territorial and local REALTOR® associations, all association-owned MLSs, and all brokerages with a NAR member as principal that had a residential transaction volume in 2022 of $2 billion or below from liability for the types of claims brought in these cases on behalf of home sellers related to broker commissions. • Compensation offers moved off the MLS: NAR has agreed to put in place a new rule prohibiting offers of compensation on the MLS. Offers of compensation could continue to be an option consumers can pursue off-MLS through negotiation and consultation with real estate professionals. And sellers can offer buyer concessions on an MLS (for example—concessions for buyer closing costs). This change will go into effect in mid-July 2024. • Written agreements for MLS participants acting for buyers: While NAR has been advocating for the use of written agreements for years, in this settlement they have agreed to require MLS participants working with buyers to enter into written representation agreements with their buyers. This change will go into effect in mid-July 2024. • Settlement payment: NAR would pay $418 million over approximately four years. NOTHING is official as the settlement still needs approval from court; however if approved, the changes could take effect as early as July 2024. All in all, it’s more important than ever to have an agent that can help navigate through these changes and best represent your interests! Looking to rent, buy, sell or invest?! Let’s chat 💬 #realestate #realtor #realestateagent #home #property #investment #realtorlife #househunting #dreamhome #luxury #interiordesign #newhome #luxuryrealestate #house #homesweethome #luxuryhomes #realestateinvesting #realestatelife #realty #business #entrepreneur #homesforsale #justlisted #bhfyp #morgansouthfloridarealtor #thesignaturegroup