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You are here: Home / Archives for listing agent

Q: How has this new “anti-trust suit” in Missouri impacted the way agents work with buyers and sellers?

August 29, 2024 by Gary Cardillo

A: For as long as most can remember, seller’s paid a commission to the listing agent, and that agent would then split the commission with the buyer’s agent, also known as the “selling agent.” With the decision that came down as a result of this lawsuit, commissions can no longer be posted on an MLS sheet for the buyer’s agent to view. That agent must now reach out to the listing agent to see if a commission to the buyer’s agent is going to be paid from the seller’s agent’s total commission, or from the seller him or herself. Any buyer wanting to view a home, must now sign a brokerage relationship disclosure by law with a buyer’s agent, or agent working in that capacity, prior to showing any property. That document will outline the commission the buyer’s agent is to receive and the length of time that representation is to last. In a rare case, if a seller decides he or she wants the buyer to pay his or her agent’s commission, then that brokerage relationship disclosure the buyer signed will come into play with the buyer having the responsibility to pay the commission.

I’ve often used the analogy of buying a car. You either get the discount off your trade-in or off the sticker price, but not both. Essentially you have two different paths to arrive at the same number and this is no different. Virtually all the sellers we know are looking to keep the terms as they have been, as a seller’s expense. The thought is it will increase the size of the number of agents who want to show their property. However, as we’ve shared with our sellers, should they decide they want the buyer to pay the commission, just like every other consideration the buyer is taking into account when making an offer on a property, that commission will now be factored in as well. The result could be an offer that is significantly lower than the commission percentage the buyer will now have to factor in. In short, while there is an extra step that may be involved for a buyer’s agent, we are seeing things pretty much remaining the same.

Filed Under: Buying Real Estate, Selling Real Estate Tagged With: buyer, buyers agent, charlotte county, charlotte county real estate, informed, lawsuit, listing agent, realtor, seller

Did you hear?

May 31, 2022 by Gary Cardillo

Did you hear PUNTA GORDA was ranked #1 as the nation’s most sought-after areas from buyers who are looking at homes in a different metro area from where they live AND we were the only city listed in top 10 in FL  #lovewherewelive  #garycardillogroup #localagents Read more below from Realtor.com….

Here Are the Most Popular Cities for Homebuyers in 2022—and the Places People Can’t Wait To Leave

By Clare Trapasso

May 3, 2022
The COVID-19 pandemic shook up just about everything—especially where many people live. It caused a mass real estate migration unlike any in recent memory.

Lots of folks traded the cities for suburbs—more space! fewer people!—while others relocated to new, often cheaper, parts of the country. And with the popularity of remote work that allows buyers to live just about anywhere and the growing frustration with record-high home prices, the real estate reshuffle isn’t slowing down anytime soon.

In the first quarter of the year, more than half, 59.7%, of all of the views on the home listings on Realtor.com® came from shoppers based in other metros, according to recent Realtor.com research. That was a 4.6% bump over the same time last year.

Our economics team analyzed the search traffic on Realtor.com to figure out the areas where people wanted to move to—and where they most wanted to leave. We scrutinized the data to determine the nation’s most sought-after areas from buyers who are looking at homes in a different metro area from where they live. On the other end of the scale, the team also found the metro areas where the highest percentage of locals were looking for homes someplace else.

“The pandemic led many Americans to revisit priorities, preferences, and timelines,” says George Ratiu, manager of economic research for Realtor.com.  “Worries over health, financial pressures, lifestyle, and well-being were channeled into finding a home in a location which offered ample access to the outdoors, better quality of life, and increasingly important, affordable housing.”

As for trends, we found that the ever-elusive quest for affordability is still driving most preferences. Vacation and retirement destinations are especially popular with those browsing real estate listings from other areas. Some shoppers were looking to relocate, especially those who can work remotely. Others were hoping to purchase a second home, and then there were those who just wanted to dream.

Meanwhile, folks in the more expensive cities, colder parts of the country, and college and military towns seem to be looking for exit strategies. Folks in the chilly and pricey Northeast were the most likely to look at homes in other parts of the country. About 37.2% of them viewed properties in different regions. About 26.4% of folks from the Midwest, 25% of those in the West, and just 11.3% of people in the South also searched Realtor.com for residences located elsewhere.

To track the moves, the Realtor.com analysis covered the 300 largest metropolitan areas in the first quarter of 2022. (A metro area encompasses the main city and surrounding towns and smaller urban areas.) We limited the list to just one metro per state to ensure geographic diversity.

OK, let’s start with the most popular list—a tour of the most desired destinations for homebuyers right now!

1. Punta Gorda, FL
Percentage of Realtor.com home listing views from outside of the metro: 90.12%
Median home list price: $430,000*

2. East Stroudsburg PA
Percentage of listing views from outside of the metro: 89.1%
Median home list price: $322,000

3. Kahului, HI
Percentage of listing views from outside of the metro: 88.3%
Median home list price: $1,197,500

4. Rocky Mount, NC
Percentage of listing views from outside of the metro: 88.3%
Median home list price: $232,500

5. Prescott, AZ
Percentage of listing views from outside of the metro: 87.9%
Median home list price: $622,300

6. Claremont, NH
Percentage of listing views from outside of the metro: 87.5%
Median home list price: $400,000

7. Hilton Head Island, SC
Percentage of listing views from outside of the metro: 85.9%
Median home list price: $522,000

8. Santa Fe, NM
Percentage of listing views from outside of the metro: 85.9%
Median home list price: $879,000

9. Decatur, AL
Percentage of listing views from outside of the metro: 84.9%
Median home list price: $268,000

10. Barnstable Town (Cape Cod), MA
Percentage of listing views from outside of the metro: 84.7%
Median home list price: $849,450

 

Filed Under: Buying Real Estate, Community Information, Selling Real Estate Tagged With: charlotte county, charlotte county realtor, current market, florida, florida waterfront, gary cardillo, listing agent, moving to punta gorda, punta gorda number 1, selling in punta gorda

Easter, Where Hope Springs Eternal

April 15, 2022 by Gary Cardillo

If I had to summarize my outlook on life, I would have to say Alexander Pope’s “An Essay On Man” depicted it best when he wrote, “Hope springs eternal in the human breast.” Various interpretations characterize his words: “People will always be optimistic and think something better is coming.” That certainly describes me!

I’ve often thought, “Is it the child in me who wants to see life through rose-colored glasses, or is it my desire to see the best in people and what life offers?” I sense I’m not the only one as I find many who I meet are on the same path as me, looking for those little nuggets along our life’s journey that bring us joy. When you think about it, every month of the year has that little “treat” we refer to as a holiday we celebrate with great anticipation. However, when you look into the history of many of these holidays, their origins are vastly different than how we celebrate them today. We have molded them into a day that makes us feel good and gives us that renewed “optimism.” Think about it. January starts our new year, a clean slate, if you will. Some people look at it as a start of a better year than the previous one. New resolutions are made, and who cares if they are broken a few weeks later, we feel like we got a fresh start. February brings us Valentine’s Day, and who would think we somehow could turn a day honoring 2 Christian martyrs into a romantic day for lovers. March amazes me as St. Patrick would never have deemed people from all walks of life and races would claim their Irish heritage and celebrate it until all hours of the night. Somewhere along the way, the fact that it was to celebrate the arrival of Christianity into Ireland got lost between the corned beef, Irish soda bread, and another round of beer. May brings us spring flowers, Cinco de Mayo, and a day to honor our Mothers. While I understood the significance of Mother’s Day and spring flowers, can someone explain how a kid from New York interprets a day when Mexico celebrates its victory over the French Empire in The Battle of Puebla, known as Cinco de Mayo,” as one he should commemerate as well? June was one of my favorite months as it was not only the month of my birthday but Father’s Day and the start of another great summer. Soon to follow was the 4th of July, and all we could think of were those great summertime barbeques and firework displays and not so much as those who gave of themselves fighting for our independence. While August didn’t have any particular holiday we looked forward to, it was the last month of a summer that was in full swing. Then came Labor Day, and once again, we somehow interpreted this day that originated as an observance of the labor unions contributions to the U.S. economy, as almost a weekend of rest and one final celebration before heading back to the drudgery of another school year. If you were like me, I bet you couldn’t wait for Halloween to arrive, and whoever would have thought we could have turned a day of observance for the deceased, martyrs, and saints into a night of ghoulish activities, costumes, and shopping bags full of candy! November brought Thanksgiving, which not only was the beginning of the holiday season but seemed to make us a bit more appreciative of the things for which to be grateful. There was a desire to savor the day in the company of family and friends, and it was perhaps one of the few holidays that genuinely made us reflect on the significance of that day. Then came Christmas for those of the Christian faith, and like most kids, it was a day we looked forward to since the end of summer. While it was supposed to signify the birth of Jesus Christ and God’s plan to bring salvation to the world, somehow, our focus was more about the gifts we showered on each other, and the Christ child in a manger got hidden behind that new bicycle and the mountain of toys.

I bet you think I forgot about April, didn’t you? For many, it represents the month that “God giveth and the taxman taketh away.” Perhaps Easter is God’s way of helping us endure that pain; however, Easter represents much more to me. The beginning of spring was starting to bloom. The air seemed fresher, and everything seemed to come back to life. As a child, my early recollections were of an Easter Bunny delivering a brightly colored basket full of jelly beans, a chocolate cross and rabbit, and a stuffed baby duckling, all nestled on a bed of colored cellophane grass. But, of course, no Easter would be complete without the dying of eggs and the Easter egg hunt that soon followed. As I got older, I thought, what sense did all of this make. Easter is supposed to be a celebration of the risen Christ and the hope of many for eternal life, and somehow we have a rabbit delivering colored eggs and candy. Did someone tell the rabbit he walked onto the wrong movie set?

I was relieved to find, according to Time, this “egg-laying hare” stems from a pagan tradition known as the Festival of Eostre, which honored the goddess of fertility and spring. It is said the goddess’s animal symbol was the rabbit, which stood for high fertility and reproduction rates. If you live in my community you will see first-hand the rabbits have successfully continued this time-honored tradition! However, in the 1700’s, German Immigrants coming to Pennsylvania brought this tradition of “Osterhase” or “Oschter Haws,” an egg-laying hare that would lay colorful eggs and give them to good children. I can’t tell you my relief as I must have been one of the good ones, or of mistaken identity, as I always awakened to a big Easter basket full of every sugar-filled treat known to man!

So what does Easter mean to me? Unlike most holidays steep in tradition, I always felt it was the start of something extraordinary inside me and the world around me. Everything seemed new and fresh; it was almost as if life was just beginning. As I’ve grown older, it has taken on a different perspective as chocolate bunnies and colored eggs have given way to more of a reflective period. Easter has almost become a better time to make those resolutions in bettering ourselves and sharing our gifts with others. I’ve often wondered if we make our New Year’s resolutions at the beginning of each year as something genuinely positive to look forward to, or is it our feeble attempt to distract us from the suffering of those long, harsh winters? After all, how many of those good intentions become just that after only a few short weeks? Yes, guilty as charged! For those who share the Christian faith, Christ’s death and resurrection was that opportunity to bury the old negative thoughts and way of life in exchange for a better, more rewarding eternal life. One in which we could find total enjoyment in the simple pleasures life had to offer without trying to create distractions to get us through each day. This is, to me, the actual “Hope Eternal,” as Easter has brought me a renewed appreciation for the things I have, the friends that surround me, and the hope of a better world to come.
My hope is this Easter season brings the same joy to you.
-Gary Cardillo

Filed Under: Community Information Tagged With: buying real estate, easter, florida, flwaterfront, gary cardillo, listing agent, meaning of easter, pgrealtor, port charlotte, punta gorda, realtor, selling real estate

Do you think the market is going to crash and should I wait before buying something now?

December 22, 2021 by Gary Cardillo

I get this question a lot. Unlike the real estate crash that occurred from 2007-2009, where the thriving market was built on speculation and buyers getting sub-prime mortgages, this market is much more sound from the perspective that it hasn’t been investor driven, and most buyers have either paid cash or taken out a smaller percentage of financing. As I’ve mentioned in previous newsletters, people found they could work remotely, and having sold homes up north at significantly higher prices, decided there was no reason to wait until their retirement years to move to Florida. However, with prices having risen due to high demand and low inventory levels it would appear more likely that the meteoric rise may become more gradual and that buyers will become more patient, waiting for there to become more of a balance in the market than the buying frenzy that has occurred the past two years. Where I do see signs that inventory levels could remain low stem from sellers who would like to take advantage of the market, but don’t want to jump into the pond of other buyers desperately looking for a home. The feeling the profits attained could be offset by the increased price they would be paying for their next home, may not be worth putting their home on the market for sale. Could that limit new listings coming on the market, resulting in fewer homes available for sale? Possibly, but natural disasters, epidemics and the loss of loved ones can put what is important in life in a different perspective. The desire to downsize, travel more, or moving back closer to family will continue to bring new inventory on the market and the willingness we are seeing from buyers looking for a better quality of life I feel bodes well for the market to remain strong this new year.

Filed Under: Buying Real Estate, Selling Real Estate Tagged With: buy real estate, buyers agent, charlotte county realtor, current market, gary cardillo, hot market, listing agent, market, real estate market, trends 2022

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