What happens to Realtors if the PRO Act passes? [Housingwire]. A Bill that aims to empower unions headed to the Senate for a final vote. To continue independent contractor arrangements with brokers/owners experienced established agents may be forced to have their real estate license held in the name of an S Corp, LLC, PLLC, or PA. New agents may have no choice but to become brokerage employees where commission splits will have to be restructured. If passed, there will be fewer agents entering the market, and low producing agents may leave the business due to higher costs of doing business.
The perfect storm for correction
“After plunging nearly 18% from March to April and another 10% from April to May, sales of existing homes shot back up nearly 21% in June, according to the National Association of Realtors.” The housing market stands at a tipping point after a stunningly successful year during the pandemic [CNBC]. “Home prices are overheated, mortgage rates are rising, the supply of homes for sale is anemic and consumer confidence in the housing market is falling.”
Millennials are comprising the largest share of buyers at 37%, shows the National Association of REALTORS®’ newly released 2021 Home Buyer and Seller Generational Trends report. NAR Study: Young Adults Eagerly Entering, Dominating Housing Market. See what buyers (by age) want most from their real estate agents, and what they say are the most difficult steps of the home-buying process.
How the agent commission structure benefits everyday Americans [Inman]. “Those attempting to attack the real estate agent commission structure are cloaking their true intentions in misleading claims of consumerism. These class action attorneys and those illegitimately trying to position themselves in the real estate market are looking for a payout if they can confuse enough people with misinformation and glaring omissions.”
Robot in the house
“We should be able to do our part of the build in eight days or less,” Anderson told CBS News, referring to a 1,900-square-foot structure currently being printed and soon to be turned into a model Long Island home.” 3D printed houses are leading a revolution in real estate [CBS News]. Now if they can figure out how to build them with 100% sustainable materials.
Ordinary to extraordinary
“Even though we are currently in a seller’s market, you’ll still want to market your home as best you can to get the highest possible offers. According to MLS data, homes that incorporated aerial photos in a real estate listing sold at a 68% faster rate than homes with normal photos.” Here are 9 Ways Real Estate Drone Photography Can Elevate Your Listing [Redfin].
Trends In The Landscape – The Latest In High-Impact Grounds [Sotheby’s]. “For those in the process of searching for the perfect view—or updating their existing grounds—here are five landscaping trends that are having an impact.” Which one is your favorite?