On Aug. 15th in Colorado and on Aug. 17th across the country, structural changes were implemented that impact how consumers buy and sell real estate.
Specifically, recent class action lawsuits have brought significant changes to how buyer agents are compensated, how this compensation is advertised, and even how homes are shown.
You can read all the details at this link. Here’s a short overview video of what you need to know:
1. Signed Agreement Requirement: Agents must have signed agreements with buyers before showing any homes in person or virtually. These agreements must specify the services offered and the agent’s compensation structure, detailing how the buyer agent will be paid for their services.
2. MLS Advertising Restrictions: If a seller is offering buyer agent compensation, it can no longer be advertised on the Multiple Listing Service (MLS). Previously, this was visible to both agents and consumers.
3. Negotiated Compensation: How buyer agents are compensated now varies from one transaction to another. Compensation can involve direct payment from the buyer, contributions from the seller, or a combination of both. How buyer agent compensation is structured will be negotiated as part of the offer a buyer submits on a home.
I understand that change can be intimidating, especially when it comes to something as important as homeownership.
But these changes don’t have to deter you from buying a home.
There are still ways to make homeownership possible without needing additional funds to pay for representation.
If you’re working with a professional agent, don’t fear signing a contract with them to tour homes, either. Ethical agents won’t trap you in a contract if things aren’t working out.
If you have questions or concerns, please reach out so we can discuss in more detail.
Who is Looking for a Deal?
On Monday, I was at a new build final walk through with my buyers.
Across the street, I saw five brand-new, unclaimed homes all ready for move-in.
On my side of the street, there were a few more ‘available’ signs.
If you’re feeling discouraged by today’s interest rates, imagine securing a permanent rate in the 4%-range.
It’s not a fantasy—these opportunities do exist when you buy new. And, you could be in a brand new, affordable home in September!
Deals are out there for those who are open to them. First time home buyers and investors, especially, should take note!
Shopping for new build homes is kind of like shopping for resale homes today. They’re ready in 30 days or less!
If you’re interested, let me know and I will share some opportunities I like in the new build market!
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Experience modern luxury and timeless charm in this beautifully updated home with over $135k in upgrades. The open-concept layout, filled with natural light from south-facing windows, highlights gleaming hardwood floors and a cozy atmosphere. The kitchen impresses with marble countertops, custom cabinetry, and elegant finishes. Distinctive touches like a custom railing, built-in bookshelf, and remodeled fireplace make this home special. The vaulted primary suite offers a serene escape, and the finished basement adds versatile living space. The large, private southern backyard, enhanced with over $30k in landscaping, is perfect for relaxation or entertaining. Conveniently located between Boulder and Denver, this home provides easy access to highways, shopping, parks, and more. Recent updates include a new roof (2023), new concrete pathways (2020), new windows, and a new furnace and AC system (2020). Radon mitigation was completed in 2018. With all upgrades meticulously documented, this home is move-in ready for its next owner.
If you are looking for daily insight and real-time tips on the market, follow me on LinkedIn. If I can help you strategize your next steps in real estate in the Denver metro or elsewhere across the U.S., please reply to this email or book a call with me!