Becoming a Santa Clarita commission and concessions expert in real estate
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Becoming a Santa Clarita commission and concessions expert in real estate
Connor with Honor at SantaClaritaOpenHouses(com) - July 27, 2024** Tags: concessions, [real estate](/-/Blog/tag/real estate), commissions, [what does it cost to sell your home](/-/Blog/tag/what does it cost to sell your home), agents ** 0 Comments | Add Comment
Santa Clarita Valley Real Estate Market Update – July 27th, 2024
Welcome to another insightful update on the real estate market in the Santa Clarita Valley. I’m Connor MacIvor, here to guide you through the latest trends and shifts in the market as of today, Saturday, July 27th, 2024.
Current Market Overview
As of today, we have a total of 481 active units on the market for sale throughout all Santa Clarita Valley cities. This marks a noticeable shift in the market dynamics, particularly concerning price changes. We’ve seen an increase in price adjustments, signaling that some sellers have initially priced their homes higher than what the market can currently support.
Price Adjustments and Market Trends
If you’re a seller in the Santa Clarita Valley and haven’t received any offers within the first 12 to 15 days of listing, this might indicate that your price is above what the market is willing to bear. This timeframe can vary depending on the specific city and housing type. For instance, areas like Stevenson Ranch and Valencia may see shorter durations for offers due to higher demand and different competitive factors.
New Housing Developments
Many prospective buyers are interested in new housing developments. At SantaClaritaOpenHouses.com, we provide comprehensive tools for searching all new housing centers in the area. However, if you plan to have your own agent represent you in purchasing new housing, it’s crucial to have them accompany you on your first visit. This allows your agent to register you properly at the new housing center.
Be cautious of the QR codes at new housing sites. Scanning these and entering your information can lock you out of being able to have your chosen agent represent you later. Always ensure your agent is with you during the initial walkthrough to avoid this complication.
Industry Changes: Commission Transparency and Dual Agency
The real estate industry is undergoing significant changes, particularly in terms of commission structures and transparency. New regulations aim to make the process more transparent, altering how commissions and concessions are handled. While online platforms might not yet reflect these changes, time will reveal how they impact sellers and buyers.
One of the critical considerations for sellers now is whether to pay a buyer’s agent’s commission. Sellers might question why they shouldn’t also represent the buyer if they’re already listing the property. This introduces the concept of dual agency, where the same agent represents both the seller and the buyer. This practice is controversial and illegal in some states due to potential conflicts of interest. It’s crucial for both parties to feel comfortable with this arrangement and ensure they have independent, knowledgeable representation.
Practical Tips for Buyers and Sellers
Final Thoughts
As we navigate these changes and trends, staying informed and proactive is key. The Santa Clarita Valley market continues to evolve, and being prepared will help you make the best decisions, whether you’re buying or selling.
Thank you for joining me today. Don’t forget to check out SantaClaritaOpenHouses.com for the latest listings and updates. Have a fantastic weekend, and we’ll see you back tomorrow for another market update. I’m Connor MacIvor, over and out.
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