California passed SB9 recently and I think it's important to get this information out to the public. Although it will take a property to be laid out on the parcel a certain way to make this doable, if many residents do this, we will increase the density for up to 8 units per R1 lot. Personally I don't like this since having space to breathe around where we live is important to me. You decide.
The department of Justice sued the National Association of Realtors to change how commissions are distributed to the buyer's agents. They won and it looks like soon buyers may have to sign a separate contract with their agent to pay their commission. I believe this is not going to serve the public in it's highest and best interest. Agents cannot afford to work for free and buyers will probably not want to pay their agent. The Listing agent will no longer be able to offer a commission to the selling agent on the MLS. Agents will not want to show properties if they can't get paid for their services. I believe this is a great injustice to the Real Estate business. Fo over 50 years the system of commission sharing was working just fine. If a home got listed with a 6% commission it was usually shared 50/50 with the selling agent who then split their share with their broker. Each agent spends quite a bit of money and time before they ever get paid....if they get paid.
As an agent we are responsible for finding a lender we can trust, construction help if needed, the legal aspects of the property such as if it is permitted, what issues does the property have that will need to be remedied. The legal documents are way too numerous to list here. Then we need to know what the fair market value is so the loan will appraise and if the buyer is selling their property, when will it close and if their buyer is also selling their property...and on and on it goes. Trying to sell ones own property is a little like trying to do one's own surgery or handle our own legal documents and court cases.
I understand most folks don't really have too many real estate transactions in their lifetime so they really understand very little about the complexities but do not underestimate what a real estate agent is responsible for.
As an agent we are responsible for finding a lender we can trust, construction help if needed, the legal aspects of the property such as if it is permitted, what issues does the property have that will need to be remedied. The legal documents are way too numerous to list here. Then we need to know what the fair market value is so the loan will appraise and if the buyer is selling their property, when will it close and if their buyer is also selling their property...and on and on it goes. Trying to sell ones own property is a little like trying to do one's own surgery or handle our own legal documents and court cases.
I understand most folks don't really have too many real estate transactions in their lifetime so they really understand very little about the complexities but do not underestimate what a real estate agent is responsible for.