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Weekly Real Estate Roundup – December 3

December 3, 2020

2 MINUTE READ

Welcome back, friends! With Thanksgiving in the rearview and the holidays approaching, we’re looking both forward and backward too, bringing you details on new broker fee transparency requirements, and reflecting on the pandemic’s impact on young and old(ish) alike. Let’s go!

Secrets Secrets are No Fun: More Transparent Fees to Come 

What’s this all about?

Tired of being in the dark about real estate agent commissions? So is the Dept. of Justice. Sellers’ agents must now publicly disclose the commission they offer to buyers’ agents for properties listed on a multiple listing service site. In addition, buyers’ agents will be obligated to tell their clients about the compensation they are being offered. Buyers’ agents won’t be able to describe their services as free to the buyer and must be transparent about their payment. 

What it means

Shedding more light on commission structures should increase competition, since clients will essentially be able to compare prices between brokerages–something Reali, which has been transparent about its fees from day one, has long understood and supported. This could save consumers billions a year, though some think that only uncoupling commissions, so that clients can negotiate their own fees, can make a real difference in home prices over the long term

Ch-Ch-Ch-Changes: Covid’s Impact on Millennials & Boomers

What’s this all about? 

Covid’s knock-on effects continue to ripple through the lives of Americans in all sorts of ways. For baby boomers, well-laid retirement plans have been postponed or cast into disarray. For millennials, many of whom have been walloped by one financial crisis after another since becoming adults, starting a family, saving for retirement–futures such as these have been put on the back burner for now. 

What it means

While it seems a question of timing for baby boomers looking to begin retirement, the dilemma for millennials lies in choosing the right vehicle for investment. Instead of retirement funds, they see home ownership as a sturdier investment–a sensible option, considering today’s low mortgage rates. Whether boomer or millennial, though, Reali has your back!

Mysterious Monolith Plot Thickens
Everyone’s favorite shiny prism, now missing, isn’t as sturdy as it looks, apparently.
2021 Food Trends: Korean Flavors Go Mainstream
Expect to see kimchi, gim, and other delicious Korean concoctions everywhere next year.
Oust These 13 Stressors from your Home 

Eliminate these nagging household annoyances.

Has Covid Made us More Generous, or Selfish?
With Giving Tuesday this past week, it’s a good time to examine Covid’s affects on our sense of charity.


One more thing 

That’s all we got this week, friends–see you next Thursday!

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