HAPPINESS IS WORKING WITH A REALTOR WHO UNDERSTANDS THE NEW NAR RULES
A Landmark Legal Settlement has created a NEW ERA in Real Estate
On March 15, 2024 the National Association of Realtors entered into a settlement in the Burnett V. NAR case. Due to the settlement, NAR agreed to the following MLS rule changes which will become effective in August 13, 2024 in Southern California:
Agents are required to sign a written Buyer Representation Agreement with their Buyer clients wherein compensation to be paid by the Buyer is specified.
Seller paid Buyer Agent commissions will no longer be promised and published in the Realtor MLS.
In the NEW ERA created by the NAR Settlement, the successful marketing style for selling homes is changing. The past emphasis on generous Seller paid Buyer Agent commissions (to bring qualified buyers to the table) has been significantly reduced. Commissions will no longer be guaranteed by MLS Rules. With over 50% of the buyers now coming to our open houses unaccompanied by real estate agents, it appears that the real estate sales industry is being transformed from “Salesforce” to “Consumer Product” style marketing:
The Salesforce Marketing style is very personalized, relationship-driven, and involves direct interaction with homebuyers through a “salesforce” of Buyer Agents who are motivated by the promise of a generous Seller Paid Commission to get buyers out looking at homes.
The Consumer Product Marketing style emphasizes Branding, Emotional Appeal, Packaging, and Multi-Channel Advertising directly to the consumer to differentiate the product, generate interest, and obtain a top dollar sales price.
Coldwell Banker is the oldest, best known, and most respected Real Estate Brand in the world. Our home preparation assistance will create Emotional Appeal and our Marketing Package includes best-in-the-industry imagery for your home. We use the most effective Advertising Channels to effectively reach a very large audience of homebuyers through signs, direct mail, print media, eMail, texting, retargeting, geo-fence targeting, social media, online exposure, YouTube, websites, Broker Preview, Area Realtor Notification, and the Realtor MLS.
The Reputation of the Brokerage you hire matters to buyers. Our NEW ERA “Marketing Plan to Sell your Home” has been designed to ensure that a qualified buyer finds, loves, and purchases your home for top dollar regardless of the NAR Settlement & Rule Changes.
My Listing Commission in the NEW ERA will be 3.5% or Less!
How’s the Huntington Beach Market?
We’ve entered a NEW ERA in real estate, where the Buyer’s Agent is paid based on
known, and most respected Real Estate Brand. Millions of advertising dollars are spent year-afteryear so potential buyers will have a positive association with your home the moment they see the Coldwell Banker sign in your front yard.
In January 2024, the Days of Supply* for all homes in Huntington Beach was sitting at 78 (Balanced Market Range). The relatively “slow market conditions” were attributable to mortgage rates spiking to 8% in October 2023.
Emotional Appeal: My Home Preparation Assistance will position your home to get top dollar. I do not charge extra for coordinating the professionals that will make your home look fantastic for prospective home buyers.
In the 4th Quarter of 2023, the Federal Reserve began easing, and mortgage rates fell to the 6.5% level by the end of 2023. Buyers entered the market again in droves, and the Days of Supply dropped back to 48 (Strong Seller’s Market) by February. The reading remained in the high 40s until July 18, 2024 when it jumped all the way up to 69 (Balanced Market Range). Early August saw a reading of 71, the highest level since early January. The most recent reading on August 15, was 61 (Balanced Market).
Packaging: The Image Filled Marketing Package I create for your property will be amazing: Hi-Res photos, drone shots, 2D Floorplan, video, and 3D Virtual “walk through” Tour.
Multi-Channel Advertising: The imagery and property details will be aggressively distributed using multiple marketing channels directly to the consumer to attract qualified buyers. Your listing will be on all the top websites: Zillow, Homes.com, Trulia, Realtor.com, ColdwellBanker.com, Redfin, and the Realtor MLS. It will also be advertised on these additional channels: Social Media, eMails, brochures, retargeting, geo-fence targeting, texting, direct mail, signs, & more!
Mortgage rates spiked at 7.43% on April 22, 2024, but have since moved below 7% again with the 30-Year Fixed Rate quoted on August 23, 2024 at 6.44%**… This current rate is 43 basis points lower than 30 days ago and 99 basis points below the peak rate for 2024. The recent drop in Days of Supply is likely attributable to these more favorable mortgage rates. Look for the Days of Supply to be in the Balanced Market Range or possibly move into a Seller’s Market in the next few months depending on the direction of mortgage rates.
In the NEW ERA, many consumers will find your home on their own, then come tour it without a Buyer’s Agent.
*Days of Supply is defined as the number of days required to sell all the homes currently on the market at the present rate of home sales. ** Mortgage News Daily. Year over Year Year to
If a qualified buyer has not signed a Buyer Representation Agreement before visiting your home, I will represent that buyer as a Dual Agent… this service is included in the 3.5% commission.
Certainly a “Salesforce” of Buyer Agents will still try to sell your home. And, some Buyers will prefer to sign a Buyer Representation Agreement with an agent they know & trust.
My marketing recommendation to home sellers in the NEW ERA is to encourage cooperating Buyer Agents to show and submit offers. I believe most sellers will consider paying compensation to Buyer Agents per the terms of their Buyer Representation Agreement. It is sensible to consider offers with the Highest Net Proceeds & Best Terms regardless of the amount of compensation paid to the Buyer’s Agent.
My Listing Commission in the NEW ERA will be
3.5% or Less!
We’ve entered a NEW ERA in real estate, where the Buyer’s Agent is paid based on the compensation identified in the Buyer Representation Agreement… not an amount published in the Realtor MLS.
In the past, there was an emphasis on “Salesforce Marketing” with generous Seller paid Buyer Agent commissions to bring qualified buyers to the table. But this incentive is no longer guaranteed by the MLS Rules.
If a Seller offers to pay Buyer Agent compensation exceeding the amount specified in the Buyer Representation Agreement, the Buyer Agent cannot legally accept the additional compensation.
Successful Marketing in the NEW ERA is evolving toward Consumer Product style techniques which emphasize Branding, Emotional Appeal, Packaging, & Multi-Channel Advertising:
Branding: Home buyers exhibit predictable consumer behavior. In the biggest purchases of their lives, they prefer to buy from an established & respected brand. Coldwell Banker is the oldest, best known, and most respected Real Estate Brand. Millions of advertising dollars are spent year-afteryear so potential buyers will have a positive association with your home the moment they see the Coldwell Banker sign in your front yard.
Emotional Appeal: My Home Preparation Assistance will position your home to get top dollar. I do not charge extra for coordinating the professionals that will make your home look fantastic for prospective home buyers.
Packaging: The Image Filled Marketing Package I create for your property will be amazing: Hi-Res photos, drone shots, 2D Floorplan, video, and 3D Virtual “walk through” Tour.
Multi-Channel Advertising: The imagery and property details will be aggressively distributed using multiple marketing channels directly to the consumer to attract qualified buyers. Your listing will be on all the top websites: Zillow, Homes.com, Trulia, Realtor.com, ColdwellBanker.com, Redfin, and the Realtor MLS. It will also be advertised on these additional channels: Social Media, eMails, brochures, retargeting, geo-fence targeting, texting, direct mail, signs, & more!
In the NEW ERA, many consumers will find your home on their own, then come tour it without a Buyer’s Agent.
If a qualified buyer has not signed a Buyer Representation Agreement before visiting your home, I will represent that buyer as a Dual Agent… this service is included in the 3.5% commission.
Certainly a “Salesforce” of Buyer Agents will still try to sell your home. And, some Buyers will prefer to sign a Buyer Representation Agreement with an agent they know & trust.
My marketing recommendation to home sellers in the NEW ERA is to encourage cooperating Buyer Agents to show and submit offers. I believe most sellers will consider paying compensation to Buyer Agents per the terms of their Buyer Representation Agreement. It is sensible to consider offers with the Highest Net Proceeds & Best Terms regardless of the amount of compensation paid to the Buyer’s Agent.
Notably, I offer a discount on the 3.5% Listing Commission when the buyer has an agent. You can redirect these funds toward the compensation of the Buyer’s Agent or toward your other customary seller closing costs.
Scot Campbell is an experienced, trustworthy, knowledgeable, reputable, and above all caring Realtor with 100% 5-Star Reviews.
In 2024, he already has 27 Transaction Sides Closed or In Escrow Totaling over $57.5 Million. Scot has Brokered over 3,500 Homes in the last 34 Years!
413 California St, Downtown Huntington Bch CLOSED: Represented Seller - $2,610,000
16123 St. Croix, Huntington Harbour CLOSED: “Seagate Lagoon” - $1,415,000
4021 Ondine Circle, Huntington Harbour CLOSED: $1,685 PSF - $5,700,000
8842 Dorset Drive, Huntington Beach CLOSED: Represented Buyer/Seller - $1,420,000
17131 Autumn Circle, Huntington Beach CLOSED: Represented Seller - $1,530,000
125 16th Street, Downtown Huntington Beach CLOSED: Represented Seller - $8,650,000
18616 Park Glen Lane, Huntington Beach CLOSED: Represented Buyer - $1,198,000
212 15th Street, Downtown Huntington Beach CLOSED: Represented Seller - $3,850,000
20065 Waterford Lane, Huntington Beach CLOSED: Represented Seller - $990,000
4167 Warner Ave #101, Huntington Harbour CLOSED: Represented Seller - $1,110,000
5 Bedrooms | 3 Baths | 2,340 Approx. SF
| 2 Car Garage | Beautiful Front & Back Yards Extensive Upgrading & improvements! This beautiful 2 story home is located in the Marine View School neighborhood with quick access to the bike path which leads to the Bolsa Chica Wetlands and Pacific Coast Hwy. Interior tract location and close to the beach, shopping, Meadowlark Golf Course, and more. You will love the backyard & spacious family room... and, if it is an important feature to you, it has two downstairs bedrooms with a hallway full bath! This home is “move-in ready”... definitely take a look at this one!
