REAL ESTATE RESHAPE

The latest on the unprecedented NAR settlement

May 10, 2024

#34

WELCOME

When it comes to choosing which neighborhood to buy in, it turns out fur babies have almost as much pull as human ones. A homebuyer survey by NAR revealed that 19% of recent purchasers were influenced by pet-related preferences—and adding a ‘Wag Rating’ to your listing descriptions could be the sale-winning move.

SHARPEN YOUR SKILLS

🔊 Today’s Top Video Rec:

Stay updated on this week's real estate highlights with Jeffrey St. Arromand! The Federal Reserve maintains interest rates, while green emerges as the predicted color trend for 2024. Grant Cardone lists his Malibu mansion for $65 million, accepting Bitcoin. Russell Wilson and Ciara anticipate a $31 million profit from their Lakefront Washington Estate sale. Broker commission settlements near $1 billion. Stay informed with these key updates shaping the market.

MARKETS

NAR Settlement Update

MLSs across the country have until August 17 to comply with the NAR’s $418M settlement agreement—and a whole host of changes to the way agents do business. These policy and timeline updates, announced last week by NAR Chief Legal Officer Katie Johnson, mandate that listing brokers can no longer offer commissions to buyer's agents through the MLS, and require buyer's agents to secure written agreements prior to home tours. Both of which significantly alter how agents interact with clients.

For a deeper dive into how these policy changes—which will impact an estimated 1.4M realtors—reshape day-to-day transactions, check out The Blueprint’s FAQ on this unfolding situation, plus James Harris and David Parnes’ advice for navigating this overhaul smoothly. 

REC ROUNDUP

The Friday Five

📖 Pod props. Professional design tips to spruce up your podcast and video content background.

👀 Welcome to the jungle. Tour the jungle-inspired mansion on the Sunset Strip.

👀 Major margins. See the 3 metros with the biggest real estate profit increases in Q1.

💡 Max your Mon-Fri. Tracy Tutor’s new agent advice for making the most of every week.

💡 Let’s Get to the Point. A rate cut update, major celebrity home sale news, and this year’s ‘in’ paint color. 

WHAT’S NEW FROM ESTATE MEDIA

Laughs and Listings

What do Jeff Goldblum, Ryan Serhant, and Stanley Tucci have in common? They’re just a few of celebrity impersonator Matt Friend’s sharpest acts. Watch Matt move from character to character, and room to room, on what is undoubtedly Josh Flagg’s wildest Beverly Hills home tour, in the latest episode of our series Laughs and Listings.

Mayview Modernity

Experience sophisticated living at 2421 Mayview Rd, where the seamless integration of contemporary design by Tony Frazier and the craftsmanship of DJF Builders creates an elegant, open-concept haven in the heart of Raleigh's vibrant West neighborhood.

estate-elegance.beehiiv.com/p/mayview-modernity?utm_source=estate-elegance.beehiiv.com&utm_medium=newsletter&utm_campaign=mayview-modernity

Like what you see? Reach out to listing agent Gretchen Coley to learn more and schedule your tour. 

ESTATE MEDIA NEWSLETTERS

Our full lineup of real estate reads:

Estate Elegance. Your daily dive into luxury real estate. Everyday.

Homes.tastrophes. Unique, weird, and wild real estate. Every Monday

The Glennda Gazette. Real estate, real life, in real time. Every Wednesday.

WAS the Newsletter. Explore interior design advice and inspiration. Every Friday.

The Blueprint. Stay up-to-date on the world of residential real estate. Powered by James Harris & David Parnes. Every Tuesday and Friday.

With 156M unique monthly visitors, Homes.com is becoming the home search tool to beat. As proud partners of Homes.com—which just doubled the amount of traffic seen on platforms like Realtor.com—we’re thrilled to be aligned with the tool empowering agents and clients throughout every stage of the transaction process. If you’re not already on it, check out Homes Pro today, and bookmark your new favorite business tool.

Before we go…

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