fbpx
Whitelaw and Sons Real Estate Morgan Hill
reaching your real estate goals
Robert Whitelaw, Realtor®

Robert Whitelaw, Realtor®

Published:Apr 5, 2024

Born and raised in Silicon Valley, Robert has helped clients successfully buy, sell and invest in real estate throughout Santa Clara County. Robert uses his local market knowledge to help clients across Silicon Valley!
Listen On Apple Podcasts
real estate realities on google podcasts
real estate realities on spotify
real estate realities on amazon music
real estate realities on iheartradio
listen on audible
Watch Real Estate Realities On YouTube
Real Estate Realities RSS feed

The NAR settlement is in the final stages of approval and will likely go into effect in the middle of July 2024.

It is not an understatement when I say that this change to how buyers agents are being compensated will introduce chaos into the real estate world until the systems in place adapt to this new reality.

BUYERS HIT HARDEST

These changes will leave Buyers having to directly pay their agents themselves. However, none of the current systems in place, including lending, are ready for this change. While it will lead to many more options for buyers in terms of representation, it also introduces risks to Buyers that they are likely not going to be aware of.

SELLERS MAY NOT BE OFF THE HOOK

While the new rules prevent Sellers from openly offering compensation to Buyers agents, there are methods that can be used for Sellers to contribute to “Closing Costs”, which would then be used to compensate Buyers agents. Why would Sellers do this? The bottom line is that it will get their property more attention and also insure that their Buyer has representation that can protect the Seller for future litigation.

 

FASTEN YOUR SEATBELT

The bottom line is that we are about to see a complete upending of how the real estate market works and it will take at least a year for this work out. In the meantime, an already difficult market for buyers will become even more difficult to navigate.

Check Out The Last Show!

California deficits and taxes

California 2024 Deficits, Taxes

As California faces huge deficits in 2024, Sacramento appears to focus on more taxes rather than more responsible spending. In fact, it looks like they are setting thing up to attack Prop 13!

Get Your FREE Home Value Estimate!

Just enter your address and get access to your instant home value estimate, but also amazing tools to evaluate refinance options, your equity, ways to levarage your homes equity, how to pay your home off faster… and so much more!

Schedule A Consultation With Robert!

 

Let's Talk About Achieving Your Real Estate Goals!

Subscribe To Our Newsletter

Subscribe To Our Newsletter

Join to get access to the best information on our local real estate markets, important real estate news, insights, information and tips on how to realize your real estate goals!

You have Successfully Subscribed!

Pin It on Pinterest

Feel Like Sharing?

Share this with your friends and followers on social media!