Page 8 - Stuart Exposure - June '24

Page 8, Stuart Exposure

GOOd wOrks

Kentucky Derby Party Held Charles Jones, raffles and a Derby Hat Contest.

Caring Children Clothing Children and ERAF are
To Benefit Caring Children nonprofit organizations based in Martin County. The 4C’s
Clothing Children And mission is to collect and distribute gently used clothing,
as well as new items, shoes, socks and underwear, at no
Equine Rescue And Adoption cost, to children in need in our community. In addition,
literacy services are provided to at-risk readers in five
Foundation local elementary schools. The mission of Equine Rescue
and Adoption Foundation is to provide a new beginning
T h e b e a ut i f ul a n d for at-risk horses with proper care, rehabilitation and
spacious Rockin H Ranch retraining.
venue in Palm City was Founded in 2000 by a group of concerned horse
the setting for the sixth enthusiasts, ERAF has rescued over 300 horses and
Annual Kentucky Derby completed numerous successful adoptions. Sugar, a rescue horse from ERAF
Benefit. The event raised
money for Caring Children
Clothing Children, Inc.
(4Cs) and Equine Rescue
and Adoption Foundation
(ERAF).
There was plenty of
open space to enjoy the
race festivities. The event
featured an indoor-outdoor Liz and Ed Ciampi
venue, the race on big
screen, delicious appetizers catered by At Your Service
Catering, mint juleps, along with an open bar, silent
auction, photo opportunity with horses, music by D.J. Amy Cimber and Dawn Cushing Brian and Maria Reich Nanette and Jeff Walsh
real estate

Treasure Coast Real Estate Yes, I’ll list homes all day for 2.5 percent if I don’t have to the industry will be healthier. That is great news for both those

Report split it with another agent. But is anyone going to drive a buyer left standing and for consumers.
Feel free to call me if you would like to discuss your options.

around all week, and tour 30 homes, for $500 bucks? Not likely.
Instead, a buyer will pay a reasonable fee and ask that the I can be reached at (772) 341-2941 or jimweix@jimweix.com.
Is Listing Your Home For 2.5 Or 3 Percent seller pay their agent’s fee in some way as part of their offer to Jim Weix is a broker associate with The Keyes Company. Jim
About To Be The New Normal? purchase. So, at the end of the day, nothing has really changed. has 25 years of experience selling real estate full-time. If you
Although commissions may drop, if that is what it takes to have questions or want the services of an experienced expert,
By Jim Weix eliminate those who sell a home once in a while as a hobby, you can reach Jim at (772) 341-2941 or jimweix@jimweix.com.
According to Gia Arvin,
president of Florida Realtors,
“Effective July 2024 (subject
to federal court approval),
sellers will no longer cover
commissions for both their
agent and the buyers. Instead,
buyers will independently
compensate their agent.”
Additionally, Arvin states,
“MLS participants working
with buyers must enter into written representation agreements
with those buyers. This change will go into effect in mid-July
2024.”
This situation is the result of a settlement involving sellers
paying the commission for both agents involved in the sale
of their property. Typically, when a seller would list their
property, the listing broker and seller would agree to split
the commission paid by the seller between the listing agent
and the agent that procures the buyer.
Given that the seller will no longer pay the buyer’s agent,
could listing commissions be dramatically reduced? Instead
of listing agreements for 5 or 6 percent, could we start seeing
sellers list their properties for 2.5 or 3 percent? Will you start
getting postcards offering to list your property for a total of
2.5 or 3 percent?
Or perhaps advertisements offering to help buyers
purchase a home for $1,000? My guess is yes, but don’t pop
the champagne cork yet.
“Agents’ commissions could fall by as much as 30
percent,” according to analysts at the investment bank Keefe,
Bruyette & Woods. “This could lead to a mass exodus from
the industry, driving down the number of agents by as much
as 80 percent.”
Are those left standing going to work for minimum wage?
Not likely.

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