NAR Settlement and Real Estate Industry Changes: What Homebuyers Need to Know About Commissions

Real Estate Commissions: What You Need to Know

I'm sure you're aware of the recent changes in how real estate transactions are handled in the United States. If you're planning to buy a home after August 17, 2024, it's crucial to understand these updates. There's a lot of misinformation circulating, so let's cut through the noise and dive into the facts. Understanding these changes could save you from paying unnecessary fees to a real estate agent.

The Old Way: Understanding Traditional Real Estate Commissions

In the past, when a home seller listed a property with a real estate agent, they could choose to offer a commission to a potential buyer's agent. This commission was displayed on the MLS (Multiple Listing Service) and visible on popular real…

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Interest Rate Increases And Their Effect on the South Florida Real Estate Market

The Federal Reserve intensified its fight against inflation in June by announcing the biggest interest rate increase in 28 years as the government's main lending institution tries to rein in skyrocketing consumer costs. 

The largest increase since 1994, the Fed increased its benchmark interest rate by three-quarters of a percentage point. That comes after increases of a quarter point in March and a half point in May. The increase is due to growing prices for rent, groceries, gasoline, and a variety of other goods and services. Higher interest rates will increase the cost of carrying a credit card bill, obtaining a vehicle loan, and purchasing a home.

Rate increases are anticipated to continue in the upcoming months. In general, Fed policymakers…

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Ten Reasons to Move To South Florida

It’s likely you grew up with at least one family member who wouldn’t stop talking about their dream to retire to Florida. Every holiday you’d be regaled with stories of green lawns, year-round sunshine, golf courses, beaches, and no state income taxes. In fact, that person might even be yourself!

Considering all that Florida has to offer, it’s little wonder why our home state is welcoming thousands of new residents every year. This makes for a diverse culture, incredible culinary options, and plenty of tourist-pleasing attractions; but that’s certainly not all! Here are several more reasons you should pursue that dream move:

Our Welcoming Weather

There are 365 days in one year—and in Florida more than 2/3 of them are bathed in sunshine. There…

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Do You Really Need A Buyer’s Agent When Moving to South Florida?

Most homebuyers believe a real estate agent is a real estate agent—not understanding the distinct differences between brokers, listing, and buyer’s agents. The truth is, the latter is often the one who has the most client interaction and fights hardest to protect your interests during the home purchasing process.

A buyer’s agent coordinates and secures showing appointments at properties you’re interested in, negotiates the best deal possible on your behalf, and constantly endeavors to save you time and money. It is for these reasons—and others—that working with a buyer’s agent should be preferred to directly contacting the agent who lists a property. Always remember: A listing agent is working first and foremost for their sellers; not you as a…

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8 Tips for Finding Your New Home

A solid game plan can help you narrow your homebuying search to find the best home for you.

House hunting is just like any other shopping expedition. If you identify exactly what you want and do some research, you’ll zoom in on the home you want at the best price. These eight tips will guide you through a smart homebuying process.

1.  Know thyself.

Understand the type of home that suits your personality. Do you prefer a new or existing home? A ranch or a multistory home? If you’re leaning toward a fixer-upper, are you truly handy, or will you need to budget for contractors?

2.  Research before you look.

List the features you most want in a home and identify which are necessities and which are extras. Identify three to four…

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