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New Regulations and Housing Market Insights with Jennifer Beeston

Join us on Wealth! as we sit down with Jennifer Beeston, SVP of Mortgage Lending, to discuss new regulations affecting buyer-broker agreements and the current state of the housing market.

October 1, 2024Jennifer Beeston

Join us on Wealth! as we sit down with Jennifer Beeston, SVP of Mortgage Lending, to discuss new regulations affecting buyer-broker agreements and the current state of the housing market.

Understanding the New Buyer-Broker Agreement Rules

In August, new rules made it possible for broker fees to become negotiable. Jennifer Beeston explains how this change can relieve stress for homebuyers already dealing with high home prices, down payments, and closing costs.

The Impact on Buyers

Beeston notes, "Real estate agents can now negotiate their commission with sellers. While you might not win every house, remember that it's all about your overall offer. The net price is what truly matters."

Tips for Homebuyers

With these changes, Beeston encourages homebuyers to:

Shop around for different agents

Interview potential agents

Negotiate to get the best deal

The Housing Market's Supply Issue

The housing market is currently facing a supply shortage. Beeston highlights the importance of supporting builders to address this issue. She mentions Texas as an example of a state with better supply due to its pro-builder stance, unlike the more competitive market in New Jersey.

Stay informed and make the best choices for your home buying journey!

Ready for next steps

Get a clear mortgage plan before you start shopping.

Apply now through Rate or schedule a time with the Beeston team for direct guidance.