What's Real About the Recent Real Estate Headlines?

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As you may have heard, there are practice changes by the National Association of REALTORS® (NAR) going into effect on August 17, 2024.

There have been plenty of headlines in the media causing confusion.

In my experience, there have always been for sale by owners, several years ago there was the arrival of discount brokerages. A small percentage of consumers engage these options, and I have always had the use of an agency relationship outlining how compensation works.

Our Colorado form has changed, which means that I no longer have to write as much language in additional provisions to outline how I earn my success fee for getting my clients to closing.

My practice has the same execution.

To clarify some of the misinformation about the settlement, I want to provide a few facts:

Sellers retain, as they always have, the discretion to offer compensation to buyer’s brokers. The settlement does not prohibit their ability to do so.

Commissions have always been and will continue to be negotiated through transparent conversations with our clients. We strongly believe in transparency around broker compensation. While buyer's agent commission can no longer be displayed on the MLS, it can still be advertised, offered, and negotiated outside of the MLS. The vehicle is put into practice by way of phone calls, email, insagram, or printed materials so that the Buyer is given what they need to make an offer that will work for all parties.

Every buyer represented by a NAR-affiliated agent is now required to sign a Buyer Representation Agreement formalizing the relationship between the buyer and broker before touring properties, something that has been required in many states for over a decade. I have used this document for the full 24 years I have served clients as a Realtor.

Buyers deserve representation at every income level. Our experience has shown that transactions flow more smoothly when there is professional representation on each side, facilitating clear lines of communication, which benefits all parties involved. Statistics show that there are fewer lawsuits when there is agency representation on both sides.

Compass agents provide tremendous value to our clients.

As a result, we will continue to encourage a transparent commission conversation that reflects the time, effort, expertise, and support we invest in each transaction.

Compass sees these updates as being positive both for our clients and for the brokerage community, as they provide enhanced transparency and clarity, that will encourage the most professional agents to thrive.

Real Estate is a relationship-based business, and the trust we’ve earned with our clients is something we greatly value. Together, we will navigate any changes to rules and regulations in our industry while continuing to provide the same exceptional service we

always have.

If you have any questions, please don’t hesitate to reach out.

OPEN HOUSES

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I have three amazing open houses.

Please pop by and say hello!

Sunday 12 - 2 pm

2500 Pampas Court

3 BD 3 BA 2306 SF $2,395,000

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4 BD 4 BA 4044 SF $4,795,000

Fed Calls it - 50 Basis Points!

I wanted to take a moment to update you on the recent Federal Reserve meeting and how it could impact your next MOVE!

What Happened at the Fed Meeting?

During their recent meeting, the Federal Reserve (often referred to as "the Fed") reviewed the current economic landscape, including factors such as inflation, employment rates, and overall economic growth. The Fed decreased the central bank's federal fund's rate by a half percentage point, reflecting their ongoing strategy to manage economic stability.

According to many experts, the Fed is predicted to continue to shift in this direction.

What This Means for Mortgage Interest Rates:

The Fed doesn’t directly set mortgage rates, but their decisions heavily influence them.

There could be an opportunity for lower mortgage rates, which might make now a great time to consider buying or seller and there will be a new breath of life boosting this market.

What Should You Do?

If you’re thinking about buying a home, or simply want to review your options, now is the perfect time to get in touch.

As your dedicated Realtor, I am here to help you navigate these changes and find the best solution for your needs.

Let's connect now to schedule a time to discuss your goals and start the process.

I am here to guide you every step of the way!

Warmly,

Alissa

Alissa Peterson

Associate Real Estate Broker

M: 720.648.4144

alissa.peterson@compass.com