Buyer’s Resource Page
Before Embarking on your
home buying journey, you must
know these things…
1) Find a real estate agent
Look for a professional agent who knows your area well and has experience selling homes similar to yours.
4) Market your home
Your agent will also promote your home through advertising and networking.
7) Review offers
As offers come in, work with your agent to review them and negotiate terms that are favorable to you.
Buyer’s Guide
2) Set a price
Work with your agent to set determine a price that's in line with the market value of your home.
5) List your home
Once your home is ready to go, your real estate agent will list it on multiple websites and market it to potential buyers in your area.
8) Sign a contract
Once you've accepted an offer, a legal contract is created between you and the buyer. At this point, the buyer will have a certain period of time to complete inspections and secure financing.
10) Close the sale
Congratulations! You've sold your home. On the closing date, the buyer will provide payment, and you'll transfer ownership of the property to them.
3) Stage your home
Clean and declutter your home to make it more appealing to potential buyers. You may also want to make minor repairs and consider hiring a professional stager to help you optimize your space..
6) Schedule showings
Keep your calendar open to accommodate potential buyers and make your home available for viewings. Be sure to keep it clean and presentable for each showing.
9) Finalize details
As the closing date approaches, you'll need to prepare to move out and finalize any remaining paperwork. Your agent can guide you through this process and answer any questions you may have.
NAR Lawsuit
What you need to know
The NAR lawsuit and settlement changes take effect on August 17th, 2024. While this has been a major topic of discussion in the real estate world, I want to ensure you are informed with correct information as we navigate this historical change together.
The Case
Sitzer-Burnett is a class-action lawsuit that was filed in Missouri federal court by a group of home sellers in the state against NAR and other defendants, including Anywhere, Berkshire Hathaway HomeServices, Keller Williams and RE/MAX.
The Claim
The plaintiffs claimed that real estate commission rates are too high, buyers’ representatives are paid too much, and NAR’s Code of Ethics and MLS Handbook, along with the corporate defendants’ practices, lead to inflated commission rates.
The Verdict
The ruling is the Sitzer/Burnett v. NAR lawsuit determined that the National Association of Realtors (NAR), along with Keller Williams and HomeServices of America, were guilty of colluding to keep real estate commission rates artificially high.
The Road Ahead
As of July 2024, sellers offering to pay for the buyers' broker for their representation will no longer be communicated through the MLS. Any commission to the buyer broker paid by the seller as a buyer incentive will be communicated off-MLS through negotiation and consultation with real estate professionals.
Selling
Sellers retain the choice to offer compensation to buyer brokers. The seller's agent must disclose any offer of payment to the seller in writing and obtain their approval before proceeding. The disclosure must specify the amount or rate of the payment.
Buying
Buyers working with agents who are members of the MLS are required to sign a written agreement prior to touring any real estate. The agreement defines the agent's responsibilities to the buyer and agreed-upon compensation. This also limits the compensation to the amount agreed upon regardless of any additional incentives offered by the seller.
In Summary
While the NAR settlement restricts the way offers of compensation are communicated, it doesn't prevent sellers from offering commissions to buyer brokers as an incentive.
The process is now more complex and requires careful communication and written agreements with full disclosure of agent fees before any real estate service is rendered and I personally think this is a great change!
New Construction Guide
With so many decisions to make, having the right information can make all the difference. This guide is packed with helpful insights to ensure you feel confident throughout the entire process. Whether it’s navigating financing, understanding timelines, or preparing for the final walk-through, we’ll cover everything you need to know.
Why New Construction?
Customize your dream home
One of the greatest advantages of building new is the ability to fully customize your home to suit your unique taste and lifestyle. From choosing the perfect floor plan to selecting countertops, cabinetry, and flooring, new construction allows you to create a space that reflects your personal style.
Modern Layouts for Today’s Living
New construction homes are designed with modern lifestyles in mind. You’ll enjoy open-concept layouts, larger kitchens, energy-efficient appliances, and flexible spaces perfect for today’s work-from-home environment
Energy Efficiency Means Long-Term Savings
New homes are built with the latest in energy-efficient technology, which means lower utility bills for you. With features like advanced insulation, high-efficiency windows, and modern heating and cooling systems, you’ll save money every month while enjoying a more comfortable home.
Are You Ready for New Construction?
Can You Afford the Build?
Before diving into a new construction project, it’s essential to assess your financial readiness. While building a home can be an exciting investment, it often comes with upfront costs like deposits for customizations, closing costs, and potentially longer loan approval processes.
Patience and Flexibility: Are You Ready for the Timeline?
Building a new home takes time, typically several months from start to finish. Construction delays due to weather, supply chain issues, or even unexpected design changes can extend the timeline. Ask yourself if you’re okay with waiting for your home to be completed and whether you have flexible living arrangements in the meantime.
Personal Preferences: Do You Want Full Control Over Design?
Before diving into a new construction project, it’s essential to assess your financial readiness. While building a home can be an exciting investment, it often comes with upfront costs like deposits for customizations, closing costs, and potentially longer loan approval processes.
Choosing the Right Builder?
Do Your Research: Reputation Matters
The first step in finding the right builder is to do your homework. Look for builders with a solid reputation in your area—check online reviews, ask for referrals, and visit completed homes or developments they’ve worked on.
Ask the Right Questions?
When meeting with potential builders, it’s important to ask key questions that will give you confidence in their ability to deliver. Some essential questions include:
• How long have you been building homes?
• Can you provide references from past clients?
• What warranties do you offer on your homes?
• Can I tour any homes you’ve built that are similar to what I want?
• What is your typical construction timeline, and how do you handle delays?
Getting clear answers to these questions will help you understand the builder’s experience and ensure they’re the right fit for your project.
Transparency is Key: Understand the Contract?
Before signing on the dotted line, make sure you fully understand the builder’s contract. A reputable builder should be transparent about costs, timelines, and what’s included in the base price versus upgrades. Be wary of any builder who doesn’t clearly explain pricing or who seems reluctant to answer questions
Personal Preferences: Do You Want Full Control Over Design?
Before diving into a new construction project, it’s essential to assess your financial readiness. While building a home can be an exciting investment, it often comes with upfront costs like deposits for customizations, closing costs, and potentially longer loan approval processes.