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My April Newsletter, I thought I would share here...

By
Real Estate Agent with Berkshire Hathaway HomeServices California Properties 01238708

Hello to my clients and friends.  As April continues to rapidly moves along, I hope that all reading this is close to or finished filing taxes or extensions and that it hasn't been too painful for you. 

www.endrebarath.com

I've not addressed all of the negative information being pushed out by the media regarding Realtor lawsuits.  But since I've received numerous questions, I may as well briefly address it here.  

How will the new rules governing the National Association of Realtors ("NAR") affect you? On the surface, it looks as if Realtors are the ones who have the most to lose…

My honest (as always) opinion and instinct is that first-time buyers and veterans (as well as sellers who buy into the headlines) will be the ones that are hurt by this, yet over the next six or more months, nothing will change.  First time buyers very likely do not have a great deal of money as they step into the buyers' market;  add to that, they will need to pay commission Will lenders include that commission into the loan calculation of a first-time buyer? That will add even more expense over a 20-30 year loan.  Now let's look at VA loans with a 0 - 3 % down payment . Again, add a commission into the mix. On a side note, if you as a Seller don't pay commission, that translates to fewer potential buyers for your property; that in turn means your price point might drop and likely will take longer to sell.

 

My advice in all of this is that it is in the best interest of a Seller to continue to pay Buyers' agents commissions if said Seller wants to sell their property at top dollar in the shortest amount of time while receiving the best representation.  I've always been a firm believer that the key is to have a seasoned and ethical agent represent you in a sale, a Realtor with a long track record and a skilled negotiator who provides smart strategy in the buying or selling of your properties. When I represent a Buyer or Seller, they know that I am there not just during the process, but after it as well. 

 

Dates to keep in mind for April - April 22 Passover begins at sundown; April 22 is also Earth Day.  And let us not forget the upcoming Total Solar Eclipse happening on Monday, April 8.

www.endrebarath.com

 
Wishing you a safe and healthy life and I look forward to your comments. If you are looking for a knowledgeable, focused and goal-oriented Realtor in the Beverly Hills area who will help you achieve your Real Estate goals, please reach out to me directly! If you are looking for a pet friendly Beverly Hills Realtor who can handle and sell the most difficult properties that no one else could, please reach out to me directly!! If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 ( m) homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com I contribute a portion of my commission to local animal rescue organizations. Endre Barath, Jr. Realtor at Berkshire Hathaway HomeServices California Properties DRE#01238708
 

 

Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Your newsletter is filled with all that people need to know about what is going on in your area!

Apr 06, 2024 06:48 AM
Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

Thanks for sharing this.   The agents and market will likely be able to make adjustments in order to iron out all wrinkles.   

Apr 06, 2024 07:15 AM
Joyce Marsh
Joyce Marsh Real Estate LLC - Daytona Beach, FL
Joyce Marsh Homes

Love the rainbow!! A nice touch to the newsletter which I’m sure your customers and friends always appreciate.  Not only your expertise but honesty about the market. 

Apr 06, 2024 07:49 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Wayne Martin  no wonder we are friends,  kept grousing to Diane almost word for word what you said:)Endre

Apr 06, 2024 12:59 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Kat Palmiotti  I will wait until I see it on the Internet:)Endre

Apr 06, 2024 01:00 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Brian England  thank you for your comment and I am sure it applies to other geographic areas as well, Endre

Apr 06, 2024 01:01 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Michael Elliott  well said, Endre

Apr 06, 2024 01:01 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Joyce Marsh  my loyal and repeat clients are the proof of your comment, Endre

Apr 06, 2024 01:02 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Endre- I love your newsletter and the fact that you use your own voice in it. At the end of the day, I'm of the opinion that if you want to go to the root of most problems...follow the money, or at least who benefits from it. 

Apr 06, 2024 04:04 PM
George Souto
George Souto NMLS #65149 - Middletown, CT
Your Connecticut Mortgage Expert

Endre I agree.  Buyers and Sellers are going to be impacted negatively by the incoming changes.

Apr 06, 2024 04:08 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good evening chef Endre,

Great newsletter and hoping you will get some feedback..get it out there on the table!

Apr 06, 2024 04:24 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thanks for sharing a terrific newsletter, Endre. Love that photo!

No total eclipse in our area as I understand, just partial. I know several people who were traveling to better areas for watching.

Jeff

Apr 06, 2024 04:44 PM
Leanne Smith
Dirt Road Real Estate - Golden Valley, AZ
The Grit and Gratitude Agent

Actually when an agent decides to charge a fee to list and hopefully sell a home, then how that agent disburses that fee between marketing, photographs, staging, is up the to agent. This concept of "clear cooperation" is truly ridiculous as sellers do not pay the buyer's agent, but the listing agent compensates the buyer's agent from the fee the listing agent receives from the seller.

 

Do lawyers explain and share their fees to their clients?  No and so why must we explain how we share our fees?

Apr 07, 2024 05:49 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Kathy Streib  thank you for adding to the conversation with a good point, Endre

Apr 07, 2024 12:58 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

George Souto  we are on the same page, Endre

Apr 07, 2024 12:59 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff Dowler, CRS  I will wait to see the eclipse once it is on the internet in video format:)Endre

Apr 07, 2024 01:00 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Leanne Smith  you make an interesting point, here in my market when we take a listing, in the listing agreement we disclose and the seller signs what commission is being offered to the buyer's side from the get go. Then we disclose it in the MLS the same information in the agent details sheet. Finally when we are ready to close the seller has to sign an Escrow Addendum as to what commission is paid to listing and selling side. Hence if you did not do what you originally agreed when you took the listing it would be discovered at the finish line. Hope this clarifies it for you, not sure how it is done in AZ. Endre

Apr 07, 2024 01:03 PM
Leanne Smith

Out here the contract also indicates co-fee sharing. The point is I believe the seller pays the listing agent a fee to sell his or her property. How that listing agent distributes that fee should be up to the listing agent. This of course would be explained to the seller so there are not surprises with the closing statement.

Apr 08, 2024 06:56 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Dorie Dillard Austin TX  my client base and friends are so good at reaching out to me and I appreciate it very much, Endre

Apr 07, 2024 10:19 PM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Love your explanation, Endre and Leanne Smith's comment is spot-on too. I wonder how many sellers are instructed by their agents that if they decide not to pay the listing agent enough to co-op with the agent of a buyer obtaining a VA loan, they won't be able to buy their home. VA buyers are NOT permitted to pay their agent AT ALL. I would not want to be a seller who refuses to cooperate with the agent of a VA buyer, therefore eliminating that buyer.

As I said on our Zoom call about this very topic - this is the #1 part of the agreement that I am opposed to. Our service members deserve every bit of respect we can give them and eliminating their ability to buy a home because of sellers' agents not covering their agent fees is SUCH a tragedy.

Apr 10, 2024 10:35 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Debe Maxwell, CRS  you substantiate what I have been saying VA buyers get the short end of the stick if the seller does not pay commission to the buyer's agent... as to Leanne Smith  I guess it is in the details... we disclose it in the listing agreement what we pay the buyer's agent and it has nothing to do with what the costs for the listing agents are for marketing, etc.

Apr 10, 2024 10:40 PM