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Coastal Community Bank

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New Rules for Buying and Selling a Home! Starting August 17th, real estate transactions are getting a makeover! Here’s what you need to know: For Buyers: Sign Before You Tour: You’ll need to sign a written agreement with your agent before touring homes. This agreement will outline how much you’ll pay your agent. Commission Clarity: Expect to cover a commission of 2.5% to 3% for now, this average percentage may lower over time. Consider offering a flat fee or paying by the hour for more transparency. Direct Conversations: Agents will now have more direct conversations about their compensation. No more “free” tours! For Sellers: Lower Commissions: You’ll only need to pay for your agent’s commission, typically 2.5% to 3%, however, this may lower over time. Competitive pressure might push this down further. Open Discussions: Talk openly with your agent about reducing or eliminating the buyer agent fee and how it impacts your sale. These changes aim to make the home buying and selling process more transparent and fair. Equal Housing Lender 🏠✨ #RealEstate #HomeBuying #HomeSelling #RealEstateRules #RealEstateTips #CommercialRealEstate #NewHome

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