NEWS

Here is what the settlement means for HOME SELLERS:

• You still have the choice of offering compensation to buyer brokers. You may consider doing this as a way of marketing your home or making your listing more attractive to buyers.

• Your agent must conspicuously disclose to you and obtain your approval for any payment or offer of payment that a listing broker will make to another broker acting for buyers.

• This disclosure must be made to you in writing in advance of any payment or agreement to pay another broker acting for buyers, and must specify the amount or rate of such payment.

• If you choose to approve an offer of compensation, there are changes to how this can happen.

• You as the seller can still make an offer compensation, but your agent cannot include it on a Multiple Listing Service (MLS)—MLSs are local marketplaces used by both buyer brokers and listing brokers to share information about properties for sale.

• Your agent can advertise your listing via off-MLS platforms such as social media, flyers and websites.

• You as the seller can still offer buyer concessions on an MLS (for example, concessions for buyer closing costs).

Here is what the settlement means for HOME BUYERS:

• A specific and conspicuous disclosure of the amount or rate of compensation the real estate agent will receive or how this amount will be determined.

• Compensation that is objective (e.g., $0, X flat fee, X percent, X hourly rate)—and not open-ended (e.g., cannot be “buyer broker compensation shall be whatever the amount the seller is offering to the buyer”).

• A term that prohibits the agent from receiving compensation for brokerage services from any source that exceeds the amount or rate agreed to in the agreement with the buyer; and,

• A conspicuous statement that broker fees and commissions are fully negotiable and not set by law.

The National Association of REALTORS® announced Friday new details regarding the proposed settlement agreement, which received preliminary approval from the court on April 23.

The announcement, shared with REALTOR® Magazine, provides important information regarding the practice changes required for NAR members under the settlement agreement; it also establishes Aug. 17 as the effective date for these changes.

In a communication distributed to members, NAR Chief Legal Officer and Chief Member Experience Officer Katie Johnson explained the deadline will provide a three-month window for NAR members and MLSs to prepare to implement the policy adjustments.

Waller and Montgomery County communities take the top spots on the list in Q3 2024

HOUSTON — (October 28, 2024) — Suburban communities in the western and northern parts of the Houston area are experiencing a surge in sales activity as homebuyers continue to prioritize affordability. New construction homes are driving much of this demand, according to the Houston Association of Realtors’ (HAR’s) latest Hottest Communities in the Houston Area report.

Brookshire, located about 40 miles west of downtown Houston, had the largest percentage increase of home purchases in the third quarter of 2024 in the Greater Houston area. There were 118 homes sold in the Waller County community, which is a 257.6 percent increase compared to the same time last year. The average home price in Brookshire was $342,159.

Other communities with significant growth in the third quarter include Waller, which saw a 76.9 percent increase in home sales compared to last year, and Conroe Northeast, which experienced a 75.3 percent increase in transactions year-over-year.

New construction remains a driving force, accounting for more than 65 percent of sales in the top five performing communities. This trend is particularly evident in Brookshire, where 88 percent of homes sold were newly built.

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Pet Policy

Pets

Max 2 Allowed | Max weight 99 lb each | One time Fee $350

Rent $25

Comments: $350 Pet Fee (Per Pet) & $25 Pet Rent (Monthly Per Pet - Max of 2 Pets)

Restrictions: Breed Restrictions Apply; Snakes & Exotics Not Permitted