September Spotlight: Fridgescaping + New Commission Structure  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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Understanding the New Commission
Structure in Real Estate

You've likely heard about the recent lawsuits and the National Association of Realtors (NAR) Settlement. You may wonder how these changes impact the real estate process, especially here in Washington.

Key Takeaway: Compensation is negotiable. This means that the fees agents charge should always be discussed and agreed upon between agents and their clients.

How It Used to Work: Previously, sellers would negotiate a single commission fee with their listing agent, which was then split between the listing and buyer agents.

The New Process:
Sellers: Negotiate fees directly with their listing agent.
Buyers: Negotiate fees directly with their buyer agent.

Each client will be responsible for paying their agent’s fee at closing and not up front. The good news is that the buyer broker fee will likely be negotiated with the seller in your offer, and some sellers may offer compensation as a marketing incentive. Keep in mind that the default in these new agreements is that you, as a buyer, would pay the negotiated buyer agent fee at closing if the seller pays no portion of that fee.

Specifics for Washington: In Washington’s largest Multiple Listing Service (NWMLS), the fees offered by the seller to the buyer’s broker are disclosed in the MLS. This transparency is not available in most MLSs throughout the country. Also, within Washington, as of January 1, 2024, it is state law that buyers and their agents sign a Buyer Broker Services Agreement prior to engaging in real estate services. This means you'll need to sign this document before an agent shows you a home.

What This Means for You: As you navigate the buying or selling process, we are here to help you understand all potential commission scenarios. Compensation varies across the industry, and each agent has their own standard. For instance, The Trey Danna Team may have a higher fee compared to other agents.

Our Commitment: We will guide you step-by-step through the real estate transaction processes, ensuring we maintain a strong collaborative relationship as your trusted real estate advisor.

The real estate industry is continuously adapting and learning from these changes. While we may not have all the answers, we are here to serve our clients as they buy and sell within their real estate portfolio.

If you’re curious to learn more about how these changes impact you, please reach out to discuss your current situation.

Read on the latest statistics, home trends, listings, and Word Around Silverstar!

Trey, Valerie and Fallon
The Trey Danna Team
King County, Washington Market Statistics - Aug 2024
In August, active inventory increased compared to the same time last year and rose slightly month-over-month.

The number of listings that went pending in August also rose year-over-year.

The number of listings remained nearly unchanged month-to-month from July.

Days on market slightly increased, while the median active price held steady, and the median sold price slightly declined.

Want to learn more about your neighborhood trends? Ask us.
Mortgage Rates
From our friends at Origin Point, here's the latest information on rates:

This past week's rates basically match the lowest rates in well over a year. 

Interest rates are moving lower as the labor market continues to show signs of rapid cooling. Mortgage rates have remained in "range" in recent weeks. The latest move may be a positive breakout of the trading range.

House Tips & Trends
Decorating the Inside of Your Fridge with Picture Frames and Flowers?
That's 'Fridgescaping'
Lynzi Judish decorated almost every part of her New York home, except the refrigerator. So, she started "fridgescaping," treating the fridge interior like any other room. This trend has both charmed and puzzled TikTok viewers.

We still can't believe this is a trend! Plants in your fridge?!
Read more here.

These 20 Reading Nook Ideas Are Utterly Novel
Dreaming of a personal library but short on space? Create a cozy reading nook instead. Atlanta designer, Liz Williams, says it adds appeal and encourages reading.

A reading nook can be a built-in seat, cozy chair, or daybed. Comfortable seating and good lighting are essential. Nashville designer, Debbie Mathews, suggests library lights or adjustable floor lamps and placing the nook in a quiet, serene spot.

Explore their favorite designs from the ELLE DECOR archives. Valerie is eager to expand her reading cocoon area with this inspiration in mind!

These Sophisticated Rooms Are 'Very Demure, Very Mindful'
After a "wild" summer of events both US and International, people are now embracing the 'very demure, very mindful' trend to create peace in their home.

Defined as modest and reserved, this lifestyle is cutesy and dainty. The trend began with a viral TikTok by Jools Lebron, humorously advising conservative presentation at work.

The trend also extends to design, focusing on understated elegance with playful touches. For inspiration, check out these 'very demure' rooms. We're wondering how to incorporate this look into our newly empty nest!

Luxury Listing of the Month
Our Compass colleague, Isabella Fuerst, is listing this stunning property in Naples, Florida. Priced below its appraised value, this home is a must-see for anyone seeking a spacious, modern residence set on beautiful grounds adorned with royal palms.

We are particularly fond of this property due to its prime location on Logan Avenue bathed in sunshine. It could be the perfect winter getaway to escape the rainy Seattle weather.

Local Happenings
Sunflower Farms
September 1 - September 30

See fields of sunflowers at local farms, which may have photo props, wagon rides, kids’ activities, and admission fees.
Sept. 1 to 2 — Olympia
Sept. 1 to 8 — Snohomish (Bob’s)
Sept. 1 to 12 — Duvall, Thurs. to Mon.
Sept. 5 to 15 — Nisqually, Thurs. to Sun.
Sept. 21 to 30 — Snohomish (Stocker)
WA State Fair
August 30th-September 22nd
The largest single attraction held annually in the state of Washington, The Washington State Fair continually ranks as one of the largest fairs in the world. For over 20 glorious days enjoy delicious food, wild rides, A-list performers in many musical genres, other dazzling entertainment, and fun for the whole family.

Word Around Silverstar
Latest Happenings Around Our Family Home
The Youngest Heads to College
In mid-August, Luke moved into the dorms at the University of Redlands and started with his new football team and freshman class.
He is settling in as a student-athlete as we settle into life at Silverstar without any kids here fulltime!
Recently Sold
Congratulations to our Sellers who sold their Woodinville home!


Active Listings
1 BD 1 BA 720 SF $2,250,000
5.240 AC VACANT LAND Zoned for Resort Development
Situated on the corner of Bay & Park Ave, this property offers a breathtaking front-row view of sunsets. Embrace this unique opportunity to build a resort family compound in historic Ocean Park.
Trey & Valerie Danna
Real Estate Advisors




Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
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