September Sales Looking to Increase, Despite Recent Industrywide Changes

“Do you remembah, the twenty-first night of Septembah…” Earth, Wind and Fire, right? Not sure why I started with that this month. But maybe it’s not so inappropriate after all. Despite ominous predictions to the contrary, not a lot of wind or fire in the earth bound real estate market here in Marin, not after the new disclosure of transaction fees began. These have always been negotiable and they’ve always been posted right up front, with complete transparency. But now they aren’t published, not publicly, anyway. Why they decided to change the structure of it, who knows. But so far, it seems to be very much business as usual.

We saw half a dozen sales in our office alone the first few days. Most of those involved multiple offers (up to 8 on one particular property), but the takeaway was that every listing provided for what’s been known as the lowest standard gross selling fee for decades: 5% of the sales price, split 4 ways between each office and then with each agent involved. Agents don’t make all that much on any transaction. So very few will risk a sale with anyone who is trying to forge a new road off a very established path. Where it goes from here, we’ll see. But for now, there’s a few extra forms to fill out and sign. Other than that, it’s business as usual with deals being done by the dozens.

Inventory remains typically light. But there’s rarely more than a handful of houses to choose from for most buyers in any given price range. After Labor Day, we should see the usual uptick in new listings, with things possibly slowing down–also as usual–in late November, all the way through January. After that, most predictions point to a healthy spring with lower mortgage rates and brisk sales. But we’ll see. 

For now, stay happy and healthy. Keep your attitude optimistic. Things could always be worse. Be thankful for what you have, not what you don’t. I sure am. I’m still here, after all, into my 39th year of doing a job that I absolutely love. 

Enjoy Septembah, wherever you are, along with all of 2024. Stay safe and as always, thanks for reading.

Ted

415.377.5222

ted@gomarin.com

Filed under: Marin Real Estate Blog by Ted Strodder