Catherine Stern-Red Oak Realty

This is a sweet one!

Yes, there are big changes, but one thing hasn't changed and that's the reality that buyers have always paid the commission. In the listing contract between the seller and the listing agent/broker, a commission was agreed upon and out of that, the buyer's agent/broker was paid (4 entities divided the commission). What's missing from that description is that properties were priced with the commission included so buyers didn't look it in the face, it was built-in, but it was always there. The money, that the seller paid their listing agent, and by agreement in the listing contract, came from the total price paid by the buyer.

Now, that there are no more 'commissions' the word is 'concessions'. Buyer's will now have to engage in a conversation about how we will need to be paid and will need to understand that what looked like days, weeks, months and sometimes years of 'free' service with no contractual agreement has changed. Unlike laywers and hairdressers, who are paid at the time of service or contractually, buyer's agents have traditionally depended on loyalty in hopes of eventually getting paid when their client's are successful and buy a property.

The NYTimes article below addresses the changes that are now law across the country.

As a Realtor with Red Oak Realty, I appreciate our incredible management team, who have worked for months to educate and prepare us for these changes.

If you have questions, please get in touch with me and I'll do my best to clarify the new state of real estate transacting. 01325681

New Real Estate Rules Sow Confusion, at Least in Short Term (Gift Article) Changes in how real estate commissions are advertised and paid went into effect this weekend. Buyers and even some agents aren’t sure what they mean.

For the past few months I worked on new art for a show at the Peninsula Jewish Community Center in Foster City. There will be a reception Thursday July 18th at 5:30. I'd love it if you could be there! If you can please let me know so I can give them an idea of how many people to expect.

I've included work that I'd already created and I made more than a dozen new pieces based on the idea of Loving Kindness. For me, the flowers represent kindness, and in the image below, the hands are also a container.

You're invited!

It was a surprisingly quiet open house yesterday. Perhaps it's this raw weather that has me wishing I could just stay home, that kept people away? Those that came were super impressed!!! I'll be there again today from 2-4!

https://www.redoakrealty.com/1431DerbySt?fbclid=IwAR2UWKCx37Tzrl4RPyrFLzncCtowdwMAWKbn_3UpVQ4T9dqnrOh-yuE-OwE

1431 Derby St, Berkeley, CA 94702 | MLS # 41055506 This Residential listing has 5 Beds, 4 Full Baths. Schedule a showing for 1431 Derby St in Berkeley, CA.. MLS ID 41055506