Magazine Archive
Magazine Archive
Why, as a Real Estate Agent, I Choose to Offer Buyer Agent Compensation
A seller is not required to offer buyer agent compensation. However, offering it remains a key strategy to attract more buyers and ensure smoother transactions. Here’s why I am offering buyer agent compensation in my own property sale, and why I recommend all home sellers do the same.
A National Settlement Has a Local Impact on Home Buyers
Since my last column, there has been a major development in court regarding buyer agency agreements. Before I get into what’s happening with local housing inventory, here’s the lowdown on the landmark settlement.
A Year in Review in the Happy Valley
Let’s start with the good news. Lawrence Yun, chief economist of the National Association of Realtors, forecasts that existing home sales will rise by 13.5% and mortgage rates will be in the 6% range in the Spring 2024 market. This will hopefully thaw our market a bit, bringing more housing options to hopeful homeowners. Yun also predicts that we will be in a seller’s market as long as inventory is low, which seems likely to remain the case in Massachusetts, where exacting building codes contribute to the high cost of new construction.
Take Advantage of the Real Estate Market
November greetings!
Much like other small communities, our local real estate market has been impacted by a confluence of factors stemming from the global pandemic and predictable demographic shifts. Simply put, in the last few years the number of buyers has exceeded the number of sellers, even with higher interest rates and higher prices. One of the most striking features of the current market is the shrinking inventory. Buyers are encountering a limited supply of available homes. The number of homes sold in the second quarter (Q2) this year is about 20% lower than Q2 2022. The number of homes sold in Northampton is 33% lower than last year.