How Do Agents Get Paid? Do you know?

Photo taken from Inman News. Read the full article here. https://www.inman.com/2019/08/29/redfin-to-publicly-display-buyers-agent-commissions-on-its-listings/?utm_source=inbriefnonselect&utm_medium=email&utm_campaign=inbrief&utm_content=751043_textlink_0_20190829

I do believe that there are changes coming to the real estate industry here on Long Island and in the near future. Buyers are becoming more educated in the home buying process due to the availability of information. With some education they are realizing that there are different types of agents. Buyers can choose an agent to represent their interests specifically as a buyers agent with no additional costs to them. So why wouldn’t you?

I believe the days of people trying to get deals by going to listing agents are starting to fade away as buyers are looking for trusted guidance while making one of the largest purchases of their life. I am a firm believer in transparency. It is becoming a frequent and underlying theme in our world today.

If you are looking for an explanation of the process or want to learn more get in touch today. I am both a SRS®️ (Sellers Representative Specialist) and a CBR (Certified Buyers Representative). I can certainly explain how the system works to ensure that my clients (either sellers or buyers) are appropriately represented in their transaction.

~Jenn

Long Island Housing Data for July 2019

The Long Island Data for home prices includes Nassau, Suffolk and Queens. It is a little unusual as the Queens market is so very very different than that of Suffolk County.

The July 2019 closed median home price for Long Island was $490,000 which represents a 3.2% increase over last July.

Based on closed home sales, Suffolk County reported an average price of $416,000 which is a 6.7% increase since the figures as of last July in 2018. The Nassau County average was $546,400 which reflects a 1.7% increase since the past year.

According to our market reports (source: the Long Island Board of Realtors) the total inventory in Long Island was up with an 8.1% increase in available residential real estate.

A quick snapshot of today’s Massapequa Park market shows 68 available residential homes according to the multiple listing service. These homes are located in the Massapequa school district (#23). There was only one home less than $400,000 in this market area. The available homes range all the way up to $1,249,000.