 |
|
|
| THE NAR CLASS ACTION SETTLEMENT |
|
8 Myths Debunked About the NAR Settlement
The Truth Behind Media Hype |
Join us in a detailed breakdown of the recent National Association of REALTORS (NAR) settlement and the misconceptions surrounding it, as explained by Premier Sotheby's International Realty's president and CEO, Budge Huskey. As a seasoned REALTOR with over four decades of experience, he tackles the widespread myths head-on, clarifying the implications for both real estate professionals and consumers.
Key Facts:
- The National Association of REALTORS (NAR) announced an agreement that would end litigation of claims brought on behalf of home sellers related to broker commissions.
- The settlement, which is subject to court approval, makes clear that NAR denies any wrongdoing in connection with the Multiple Listing Service (MLS) cooperative compensation rule that was introduced in the 1990s in response to calls from consumer protection advocates for buyer representation.
- Under the terms of the agreement, NAR would pay $418 million over approximately four years. We estimate approximately $10 per claimant.
- The class action suit attorneys have submitted a request to be compensated in the amount of $80M for creating the suit.
Key Responses:
- NAR does not set commissions -- they are negotiable. The rule that has been the subject of litigation is the rule that requires listing brokers to communicate an offer of compensation to buyers' agents in the Multiple Listing Service (MLS). That offer of compensation can be any amount, including zero.
- Currently, when listing property with the MLS, listing brokers are required to specify the compensation being offered to buyers' agents. The reasoning for the requirement concludes that cooperating participants have the right to know what their compensation will be prior to commencing their efforts to sell.
- The settlement prohibits listing brokers from disclosing compensation to buyers' agents in the MLS. However, sellers can continue to offer compensation to buyers' agents, but such offers can not be communicated via the MLS.
- We strongly believe that disclosing compensation to a buyer's agent from the seller is the most successful means of achieving the seller's objective of maximum exposure and showings.
- We have always provided total transparency to our sellers, with every agreement clearly spelling out the commission and what portion the seller is authorizing to be given to the buyer's agent.
If you have any questions, please call me.
|
|
The Upsides of Working with a Realtor
The professional real estate advisors at the Laughlin Tanner Group go above and beyond to represent your best interests |
From getting you the best deal to keeping you on the right side of the law, there are only upsides to working with the Laughlin Tanner Group. Buying and selling a home is stressful. Showings. Listings. Open houses. Taxes. Closing costs. Paperwork on top of paperwork on top of paperwork.
A real estate transaction is time-consuming and complicated, and, if not handled properly, could end up costing you money. Just like you wouldn't represent yourself in a court of law, it's simply not in your best interest to represent yourself when you're buying or selling a home. Here are just five compelling reasons to work with our luxury real estate advisors:
- Our Realtors abide by a code of ethics
- Our Realtors have extensive networks and insider information
- Our Realtors are marketing masters...
- ...and tough negotiators
- Our Realtors keep you on the right side of the law
The infographic below lists 18 more ways our Realtors work for you to get you the best deal and protect your interests:
|
|
| CASH BUYERS ON THE RISE |
|
| Share of All Cash Luxury Real Estate Buyers Highest Since 2014 |
|
While mortgage interest rates have risen from their all-time lows in recent years, the share of all cash buyers is growing. Since October 2022, all cash home buyers, those who did not finance their home purchase, made up more than one-quarter of the real estate market -- 32% in January 2024. The last time the share of all cash buyers was this high was June 2014. |
|
| THE ESTATES AT TERRANOVA UPDATE |
|
| Virtual Map Tour |
You can now take a virtual map tour of The Estates at TerraNova. Click on the link below to take the tour. Once there, click/tap on the map markers for photos, video and comments about the points of interest.
Two model homes are under development, and Phase 1 homesites are now available. If you have interest in this noteworthy equestrian community, I encourage you to call me right away to take advantage of introductory prices. |
|
|
| NEW LISTINGS |
| These listings are new to market or will be coming on the market in the near future. Contact me for more information. |
|
DOWNTOWN EAST
2345 Pelican Drive
4BR/2.5BA/2,691SF | $1,799,000
Brand new, contemporary residence in Paver Park just east of Downtown Sarasota. Wow, what a great location! Close to everything that makes Sarasota such a great place to live -- two blocks to the Legacy Trail; within one mile of Payne Park, downtown and Publix Supermarket; and just one-and-a-half miles to Bayfront Park, Sarasota Memorial Hospital and Southside Village. Classic, yet timeless. Thoroughly today. A home for loving your Sarasota lifestyle.
|
|
|
LONGBOAT KEY ON THE BEACH
Island House 7C
2BR/2BA/1,468SF | $1,295,000
Ocean-front residence surrounded by breathtaking views of the Gulf of Mexico, Sarasota Bay and Longboat Key. Feel the sun on your skin, breathe the fresh ocean air and listen to the sound of waves gently lapping on the shore. Life is better on the beach! Ideal mid-island location across from Bay Isles Shoppes and within ten minutes to St. Armands Circle and Downtown Sarasota.
|
|
|
| PROPERTY DEED FRAUD |
|
Protect Yourself from Property
Deed Fraud
What it is and how to protect yourself |
There has been a big spike in property deed fraud cases in Florida. More than 54% of real estate professionals experienced it firsthand in just the second half of 2023. Deed fraud happens when a scammer steals someone's identity and title, and then sells a property without the property owner's knowledge. Part of the problem is the switch to online records. A majority of records is now recorded solely online
You can protect yourself by signing up for your local county's property fraud alert program. It sends emails and texts if there's activity on property you own. It doesn't prevent fraud, but it's an early warning system. All of Florida's counties have some sort of property fraud alert program. |
|
|
| [Agent - Email Signature]
|
|
