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If this is the case, I’m sure buyers would just buy without an agent.
Some will, but first time or just nervous ones won’t. I would, but I’ve done it a bunch already. Plus there is always the issue (which essentially caused the lawsuit) that a lot of realtors try to keep out anyone without an agent. So if the seller has an agent, they may never hear of a buyer offer who doesn’t have an agent (not supposed to happen but…). Or the sellers agent will badmouth the offer to the seller. It’ll settle eventually and the attorneys will make out most (of course) but in the short term there will be some readjustments.
A house on my block here in Sayreville went up yesterday. It sold in November to a family who by all appearances looked like intended to live there awhile. I haven’t noticed any activity that implied renovations or otherwise preparing for a flip.
Since yesterday, my block has been a nightmare with people in and out of showings! At least triple the activity from when it sold a few months back.
What gives? Are people getting desperate to buy before the rates climb too high?
I really thought things had cooled off.
For right property that is priced correctly no, market has not cooled off.
Not everyone is so busted they cannot obtain a good mortgage rate. Then you have fact all cash deals are still being done in good numbers, well at least more than some would imagine.
Rates aren't issue for many buyers, inventory OTOH is largely the problem. There just aren't enough properties on market to meet demand.
Had to laugh at this article. "Jersey City and Hoboken the best towns to live in America", the article title is fine, then the reasons they gave made no sense. No, Hoboken and JC have horrible schools, please do not move there the schools.
I had a laugh as well.
Both towns are good for young people who work in the city to cut down the commute.
Other than that both the towns are congested and polluted. Jersey City crime rate is higher than national average.
I had a laugh as well.
Both towns are good for young people who work in the city to cut down the commute.
Other than that both the towns are congested and polluted. Jersey City crime rate is higher than national average.
The whole purpose of moving to Hoboken besides the City commute, is the social atmosphere to meet people and drink. Hoboken pridefully wears the badge, of having most bars in a square mile, which goes against the purpose of the article.
The whole purpose of moving to Hoboken besides the City commute, is the social atmosphere to meet people and drink. Hoboken pridefully wears the badge, of having most bars in a square mile, which goes against the purpose of the article.
Yep a good place for 20 somethings to live but not for a family.
If this is the case, I’m sure buyers would just buy without an agent.
Some may. There's a lot that can (and does) go sideways, though, where it might be a good idea to have an agent. A good agent, anyway. Our first attempt fell apart, and our agent never saw it coming and didn't know how to handle it. Ended up being a good thing in the long run, but it was devastating at the time.
I don't foresee most people trying to buy with no agent just yet. I think in the near future we'll see sellers who might still offer commission to the buyer's agent, but maybe 1% instead of 2.5-3%. Then slowly moving to the buyers compensating their own agent.
In this particular market, if you don't have an agent you may have a hard time figuring out how to submit a winning offer. It's not only about price. If we move more toward a buyers' market it could be easier.
Some may. There's a lot that can (and does) go sideways, though, where it might be a good idea to have an agent. A good agent, anyway. Our first attempt fell apart, and our agent never saw it coming and didn't know how to handle it. Ended up being a good thing in the long run, but it was devastating at the time.
I don't foresee most people trying to buy with no agent just yet. I think in the near future we'll see sellers who might still offer commission to the buyer's agent, but maybe 1% instead of 2.5-3%. Then slowly moving to the buyers compensating their own agent.
In this particular market, if you don't have an agent you may have a hard time figuring out how to submit a winning offer. It's not only about price. If we move more toward a buyers' market it could be easier.
I don’t really see much value in a buying agent other than scheduling showings for me. You said things go sideways and it would be a good idea to have an agent but didn’t give any examples.
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