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- Settlement Surprise
Settlement Surprise
Plus, the truth about tariffs
#74
WELCOME
Happy Valentine’s Day.
Love is in the air this month—especially for Bay Area and Seattle homes. According to Redfin, seven of the 10 most-viewed listings in January were in the East Bay and Silicon Valley, with another two in Seattle’s eastside suburbs. And if you think a high price tag would make buyers hesitate, think again—nine of the 10 properties were over $1 million.
The takeaway?
Roses are red, mortgage rates are high, but many buyers are still willing to give homeownership a try.
Wondering how you can support the ongoing efforts to help those affected by the LA wildfires recover and rebuild? In this special episode of Rise Above the Ranks, James Harris and David Parnes talk about the true impact of the fires and, most importantly, the tangible ways agents in LA and across the country can help those who lost their homes. From connecting homeowners to insurance experts and helping find temporary housing, to advocating for fire-safe building practices, James and David’s advice is worth the listen.
TRACK THE MARKET: NAR Settlement Surprises
The NAR settlement has been in effect for nearly six months, and while commission rates haven’t plummeted—as some expected they would—they are shifting in unexpected ways. The biggest trends? Luxury home commissions are dipping slightly, while commissions for more affordable homes are inching up.
By the numbers:
The average buyer’s agent commission now stands at 2.37%, largely unchanged since the new rules took effect.
Average commissions for homes priced at $1M or more dropped from 2.22% to 2.17% in Q4.
Commissions for homes under $500K increased from 2.42% to 2.46%, as buyers in this market lean more on seller-paid fees.
For agents, this means more negotiation is happening at every price point. According to a Redfin survey, more than half of U.S. agents say buyers and sellers are putting greater effort into negotiating commissions post-settlement.
DIVE IN
The Friday Five
📖 Do the math. When it makes sense to turn down a potential client.
👀 Central Park Tower. Get 360° views of Central Park and NYC from this incredible 121st-floor condo.
👀 Nice in Nolita. See inside Joe Jones’ former NYC condo, back on the market for a cool $6M.
💡Quantify the costs. The value of analyzing the ROI of every lead source before you buy another ad.
💡Call for action. Josh Flagg’s call for fewer rules and greater protections for those rebuilding in LA.
Next Week in Estate Elite
Next week in Estate Elite, Josh Flagg is hosting the live session: Million Dollar Agent Masterclass. From developing high-end listings to cultivating a luxe brand that attracts discerning buyers, this session is for agents ready to play at the top.
Don’t miss that masterclass plus Glennda Baker’s next Q&A call, Winning Listings: Creating Irresistible Listing Presentations, both available exclusively to Estate Elite members.
And if you haven’t joined yet, consider this your invitation: Every Real Estate Roundup reader gets 14 days of free access to Estate Elite. That’s two weeks of expert coaching, networking, and Q&A sessions designed to help you elevate your business. Tap here to start your free trial.
WHAT’S NEW FROM ESTATE MEDIA
The TL;DR on tariffs
A lot of people—real estate agents included—are surprised to learn how tariffs actually work. The common misconception is that other countries, like China, Mexico, and Canada, pay the tariff. But actually, the corporation purchasing the product pays—and often passes it on to consumers.
How might tariffs impact new home construction prices, and the housing market as a whole? Tap to watch Jeffrey St Arromand’s take on the latest Let’s Get to the Point.
FEATURED LUXURY LISTING
TIPS & TAKEAWAYS
Mastering the Market
Take it from Glennda, in a buyer’s market, a good listing agent is a seller’s best asset. Someone who knows how to market the property, get the most eyes on the listing, and truly showcase the value of the home can be the difference between full price and multiple price adjustments.
HANGS & HAPPENINGS
RETCon | Las Vegas, NV | March 10-12, 2025. RETCon is a must-attend event for real estate technology and innovation professionals. The conference focuses on PropTech and RealTech solutions, trends, automation tools, AI advances, and more, and gives agents and industry pros a place to learn, network, and stay competitive.
REALTOR Broker Summit | Louisville, KY | April 8-9. Get leadership and marketing insights tailored to brokers, real estate leaders, and teams ready to refine their strategies and jump ahead of the competition. Register for two days packed with workshops, presentations, meet-and-greets, and more.
Before we go…
ESTATE RECOMMENDED RESOURCES
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