WATCH PART ONE.
How are Downbeach home buyers and sellers reacting to new Real Estate rules and compensation changes that took effect on AUG 1, 2024?
Watch the latest DownbeachBUZZ Real Estate Podcast.
HOMEBUYERS BEWARE: New Real Estate commission rules.
PART TWO (below) ‘Seller Disclosure’ forms are NO LONGER optional when selling a home. They’re now mandatory.
How are other agents / brokers handling these new Real Estate rules? Watch video below.
Sachs vs Simonetta, two Real Estate brokers battling-out their differences on homebuyer paid commissions.
Sachs Realty’s Broker: “The new commission rule could harm homebuyers, blocking their ability to buy the home of their dreams. I will not allow this nonsense to happen with my clients!”
Who benefits from new rules? Many say: ‘the lawyers’.
- Mandatory buyer’s agreement.
- Open house requirements.
- Agent compensation. Who pays who?
- Growing risk of Dual Agency.
- Return of pocket listings?
- NAR, National Assoc of Realtors
Municipalities benefit from inflated home prices. Commercial short-term rentals (mini-motels) contribute to that problem.
Inflated home prices allow city employees to enjoy 6 figure salaries, longevity pay, unused sick and vacation time payouts at retirement, premium health benefits and pensions.
Most Jersey Shore tax revenue (ratables) come from 2nd homeowners with no voting rights. These homeowners are typically blocked from watching ZOOM video of municipal meetings. Residents also prohibited from remote public comment. Examples: Margate, Longport, Brigantine.
