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10/14/2024

Hey, St. Louis, the forecast calls for close to freezing overnight temps as early as tomorrow night. So, here’s you annual reminder to detach your hose from the hose bib

08/22/2024

Who do you know that has that "WOW" Mid County - West County home that's thinking about selling? Budget is $1.5 Mil or so. IM me, please.

04/16/2024

Sometimes, you have to tell it like it is.

04/08/2024

In case you're late to the game, here's a link to the solar eclipse map. Bring it!

https://sqr.co/api/phpq

03/20/2024

Maybe your don't need to freak out over the aluminum wiring in your home (or home to be).

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03/14/2024

Let the seminars begin! https://seniorlearninginstitute.com/

02/17/2024

I'm not sure how this is going to play out, but it’s going to impact how homes are bought and sold.

In short, the Department of Justice believes that home SELLERS are paying inflated real estate listing commissions because part of that commission is being shared with the agent who represents the BUYER. It’s hard to argue against that concept. The BUYER pays the agency commissions (because it's baked into the purchase price).

In theory, I agree with the DOJ. However, I predict that the BUYER is going to (once again) take it on the chin. If the DOJ’s wish is fulfilled, the SELLER will pay an estimated 40-50% lower listing commission. I expect the home SELLER will not drop their initial list price proportionally - resulting in the buyer likely paying the now "inflated” purchase price (especially in a low inventory market) AND pay their agent’s commission.

Some buyers will consider trying to save the commission and go it alone. Unrepresented, they could end up overpaying or buying a home with issues that a reputable buyer’s agent would advise them to think long and hard about. An unrepresented, inexperienced buyer is a sitting duck. Sure, the Seller’s agent is required to provide fair and honest treatment, but that’s about it. Buyer Beware!

Transparency is good. Real estate agents who have not been educating their clients as to how they get paid will now have to do so. Agents who cried about “only” being paid 2.5% when then used to get 2.7% will need to find another issue to gripe about.

We agents will need to be able to communicate our value proposition and why a home owner/buyer should think long and hard about hiring an experienced buyer’s agent over a friend of a friend’s nephew “Timmy”.

Do I firmly believe that my experience and skills save my buyer clients more (in time, money, and aggravation) than the commission I earn (and they effectively pay)? You betcha!

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01/12/2024

Ok St. Louis .... last chance

Consumer Reports delivers money-saving advice to avoid frozen pipes at home and to deal with the aftermath if your pipes freeze during a cold snap.

10/17/2023

For those of us who live in the residential real estate world, things are becoming increasingly unstable - higher interest rates, institutional buyers, home affordability (compared to renting), and DOJ antitrust lawsuits against some big name real estate brokerages comes to mind. It feels like the Wild West.

What’s not on most real estate agents (and consumers) radar is the likelihood that sooner rather than later, many home buyer’s will be paying (at closing) the agents they hire to help them. It will be rolled right into the mortgage (if there is one).

In reality, buyer’s agency was never free (it was baked into what buyers paid for the home). Most of the time, the buyer’s agent was paid out of the commission that was negotiated between the Seller and the broker they hired to sell the home. Some buyer’s agency agreements have a minimum commission percentage (that could result in some out of pocket expense).

What I expect is going to happen (soon) is that some Seller’s will refuse to fund the commission being earned by the agent representing the buyer (it’s already happening and is a mistake in my mind). For example, what might have been a 6% Seller paid listing commission may go down to 3.3%. In theory, the list price will go down proportionately, but don’t bank on it. “If the neighbor’s house sold for $500,000 and mine is just as nice (it’s nicer, I know), why would I list mine for less”? Umm - because you need to look at the net, not the gross? Good luck with that.

Some of us are already having this conversation with our sellers and buyers (while agents have no idea what’s coming). The confident agent (I like to believe I’m in that club) will explain the change, communicate that nothing has really changed (other than transparency) and we’ll move on. It may take a while for some buyers to get their arms around the fact that they have been paying their agents all along. In no time, they will come around and will hopefully will be even more thoughtful as to who they choose to represent them. As a wise person used to say “experience matters”.

For more one the subject …..

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10/15/2022

St Louis Real Estate News-St Louis Real Estate Agents-St Louis Housing Market Info-St Louis Metro Area Real Estate Market Stats