HAPPINESS IS WORKING WITH A REALTOR WHO UNDERSTANDS THE NEW NAR RULES
Many potential home owners have questions and concerns about the NAR Settlement and Rule Changes going into effect in Mid-August 2024.
Q: How will the Rule Changes affect my ability to sell my home?
A: In some aspects, if we handle the sale properly, the rule change may enhance your ability to sell you home… I can explain in detail when I meet you.
Q: Will I have to pay a Buyer’s Agent Commission once the new rules go into effect?
A: For several years, sellers have been allowed per MLS rules to pay just a $1 commission to the Buyer’s Agent. So, not much has changed in California, but I can explain in detail the alternative methods for paying compensation to Buyer Agents under the new rules.
Q: Are these New Rules really as complicated as they seem to be? No one seems to have a straight answer on how things are going to work after Mid-August 2024.
A: In consultation with California Association of Realtors attorneys over the last 2 months, I developed elegant solutions for buyers who cannot pay agent compensation (VA, FHA, and Buyers with downpayment threshold issues). I can give you straight answers when we meet.
If you are having thoughts of selling, there is no reason for concern about the new rules. I am standing by to help you successfully sell your home during this time of change!
SCOT CAMPBELL | Global Luxury Specialist | COLDWELL BANKER-Campbell Realtors 714.336.0394 Mobile / scot@campbellrealtors.com / www.scotcampbell.com / DRE# 00943759
How’s the Huntington Beach Market?
On January 18, 2024, the Days of Supply* for all homes in Huntington Beach was sitting at 78, which is well into the Balanced Market Range and starting to get close to a Buyer’s Market. These market conditions were attributable to mortgage rates spiking to over 8% in October 2023. When the Federal Reserve began easing, mortgage rates fell to the 6.5% level by the end of 2023, and buyers entered the market again in droves. Many experts predicted mortgage rates would continue to fall, but they increased all the way up to 7.43% on April 22, 2024… rates have since settled back to 7.12% as of May 14, 2024.**
Certainly, 7.12% is better than 8% as we move into the prime home selling season. The Days of Supply* dropped to the lowest level of the year (34) on April 25, and it is now at 49 days as of May 9,2024. This is a level consistent with a Seller’s Market.
*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.
The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. ©2024 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Realogy Brokerage Group LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.
NEW ERA
will most often be 3.5% or Less!
We are entering a NEW ERA of Real Estate which begins in August 2024, where the Buyer’s Agent is paid based on the compensation identified in the Buyer Representation Agreement (as determinedthe buyer and their agent)… Not a non-negotiable seller paid commission published in the Realtor MLS. Any thought of Buyer’s Agents steering buyers away from homes which offer a lower commission has been eliminated by the NEW ERA Rules.
Marketing Success in the NEW ERA of Real Estate will be determined by the Branding, Home Preparation Assistance, and Marketing Muscle of the Listing Agent.
Buyers & consumers, and in the biggest purchases of their lives, they prefer to buy products which are sold by established & respected brands. Coldwell Banker is the oldest and most widely known brand in the real estate industry. We have already spent years and millions of dollars in advertising so potential buyers will feel more comfortable the moment they see the Coldwell Banker sign in your front yard.
My Home Preparation Assistance will position your home to get top dollar. And, I do not charge extra for coordinating the professionals that will make your home look fantastic for prospective home buyers.
Powerful marketing for your property starts with the best-in-the-industry imagery I create for your home: Still photos, drone shots, 2D Floorplan, video, and 3D Virtual “walk through” Tour on every listing. I combine this beautiful imagery with aggressive multi-channel marketing techniques to effectively attract qualified buyers. Your listing will be on all the top websites including Zillow, Homes.com, Trulia, Realtor.com, ColdwellBanker.com, Redfin, and the Realtor MLS. Of course, my marketing strategy is much more than just websites and the MLS. I also expertly use social media, eBlasts, brochures, retargeting, geo-fence targeting, direct mail, and signs. Showings are done via a combination of Open Houses, Private Showings, and Scheduled Showing Hours as determined by your preference.
In the NEW ERA, some buyers coming to see your home will not have 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.
Other buyers will sign a Buyer Representation Agreement with an agent they know & trust prior to visiting.
My marketing recommendation to home sellers in the NEW ERA will be to welcome and encourage cooperating agents to show and submit offers. I anticipate most of my seller clients will consider compensation to Buyer Agents per the terms of the signed Buyer Representation Agreement. Certainly, it is sensible to give serious consideration to offers submitted with the Highest Net Proceeds Best Terms regardless of the amount of compensation paid to the Buyer’s Agent.
Notably, I offer a reduction 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 to 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 14 Transaction Sides Closed or In Escrow Totaling over $31 Million. Scot has Brokered over 3,500 Homes in the last 34 Years!
JUST SOLD BY SCOT Visit my webpage to view details & photos of my most recent sales! www.MyJustSoldListings.com
413 California St, Downtown Huntington Bch IN ESCROW: Multiple Offers List: $2,695,000
16123 St. Croix, Huntington Harbour CLOSED: “Seagate Lagoon” $1,415,000
4021 Ondine Circle, Huntington Harbour CLOSED: $1,685 PSF - $5,700,000
317 22nd Street, Downtown Huntington Bch IN ESCROW: 4-Units - List: $2,750,000
17131 Autumn Circle, Huntington Beach CLOSED: Represented Seller - $1,530,000
16401 Haiku Lane, Huntington Beach CLOSED: Represented Buyer - $850,000
18616 Park Glen Lane, Huntington Beach CLOSED: Represented Buyer - $1,198,000
17821 Altamirano, Huntington Beach CLOSED: Represented Buyer - $1,195,000
321 22nd Street, Downtown Huntington Bch IN ESCROW: 4-Units - List: $2,750,000
4167 Warner Ave #101, Huntington Harbour CLOSED: Represented Seller - $1,110,000
Owner Preparing Waterfront Home with Boat dock for Possible Sale. Call for details
Trinidad Island ~ Huntington Harbour
Fantastic Neighborhood with multiple Parks, Greenbelts, & Waterfront Walkway!
8842 Dorset Drive, Huntington Beach
Single Story Mid-Century: 3 BR, 2 BA, 1568 ASqFt
Remodeled with Lush Landscaping – List: $1,399,900
20065 Waterford Lane, Huntington Beach
Split Level: 3 BR, 2 BA, 1535 ASqFt. 2 Car Garage Townhouse in Guard Gated Seabridge - List: $995,000
212 15th Street, Downtown Huntington Beach IN ESCROW: 8-Units - List: $4,000,000 125 16th Street, Downtown Huntington Beach IN ESCROW: 18 Units - List: $8,990,000
200 PCH #137, Downtown Huntington Beach Pier Colony Condo - 2BR, 2BA Oceanview Pool/Spa/Clubhouse FOR LEASE: $4,500/Mo. 3617 & 3619 Cherry Ave, Long Beach Remodeled Duplex: 2BR/1BA & 1BR/1BA IN ESCROW: California Heights Area - List: $990,000
1200 PCH #105 Downtown Huntington Beach Pierhouse: Remodeled 2BR 1BA – Wrap Around Patio, Steps to the Sand, Resort Pool/Spa. List: $849,900
305
3,000
Buildable
17th St, Downtown Huntington Beach Double Lot Office Building – Appx
SqFt
for 2 Homes - List: $2,790,000
17241 Lynn Ln “Brightwater Area” Huntington Beach
NEW CONSTRUCTION: Amazing Modern Home & ADU
Main House: 4 BR + Office, 4.5 BA, 4,626 SqFt
ADU with Separate Entrance: 2 BR, 2.5 BA 1,001 SqFt.
Luxury finishes throughout, Gourmet Island Kitchen, Open Concept, 4 Car Garage, Home Automation System Outdoor Kitchen, Foutain Wall, Decorative Lighting, and so much more… Must See! Price to Sell: $4,999,000
COLDWELL BANKER Campbell Realtors 1720 Pacific Coast Hwy, Suite 101 Huntington Beach, CA 92648
SCOT CAMPBELL Global Luxury Specialist COLDWELL BANKER-Campbell Realtors 714.336.0394 Mobile scot@campbellrealtors.com DRE# 00943759 Get a FREE no obligation Home Value Report at: www.HBhomeValue.com The system instantly delivers a report which includes value estimates from three independent sources.
