July 10, 2024

New Course for Real Estate Agents | Mini Course: Mastering the Wyoming Contract Changes (NAR Settlement Edition)

 

Change is upon us, agents! If you're not feeling confident about the upcoming changes, you're in the right place. Our new mini course regarding the NAR settlement related changes has been attorney approved and will be launching very soon!

 

In this course we’ll be reviewing the contract documents that have either changed, are new to us, or we simply may need to change our script when explaining them to a client.

 

What's included?

 

- 9 on-demand video lessons

- 5 attorney-approved contract scripts (real estate brokerage disclosure, customer disclosure agreement, buyer agency, listing agreement, and the contract to buy and sell real estate)

- Alternative scripts for the buyer agency agreement

- Broker Compensation Notice of Industry Changes doc and script for sellers
- Buyer Guide

- Seller Guide

- Email templates

 

We'll teach you WHEN and HOW to confidently talk about the upcoming changes with ease.

 

To learn more, visit us at www.askagentannie.com or follow us on social @askagentannie!

 

Questions? My door is always open!

 

Amanda Zaddock

amanda@elitewestrealty.com

307-296-6135

 

 

Posted in Newsletter
July 10, 2024

2024 Changes to the Real Estate Industry

We are experiencing some new changes in our industry that are important for buyers and sellers to be aware of.

 

First, a seller or listing broker is no longer required to offer compensation to the broker that brings the buyer. In the past, in order to have a property listed in the MLS, meaning it’s shown to all the local agents and pushed to all the sites such as Zillow and realtor.com, the seller or listing brokerage was *required* to offer compensation to the broker who was working with the buyer. 

 

Well, we are no longer required to do so.

 

We can still incentivize buyers and buyer's agents by offering compensation though, and the amount itself can now be negotiated within the contract, becoming another negotiation factor between the buyer and seller.

 

The biggest questions I have are, will the number of showings we receive on your property be a direct correlation to a commission being offered or not? Or if it’s not being offered, will they still look regardless and then potentially negotiate it into the contract?

 

Now, this is all new to us so I won’t be able to answer these questions or say what’s common in our market until we’re down the road a bit. 

 

Next, we will now be required to have a written agreement with a buyer PRIOR to showing homes. We've always believed meeting with a new buyer prior to looking at homes ensures our buyers have a great buying experience, so this change won't affect us too much. It's in the buyers best interest to fully understand the process and start at step one, versus jumping into looking at homes and then having to backtrack.

 

These changes must be implemented by August 17th, 2024 at the latest.

 

Questions? I'd be happy to answer. Reach out anytime!

 

Amanda Zaddock

amanda@elitewestrealty.com

307-296-6135

 

 

 

 

 

Posted in Newsletter
July 10, 2024

2024 Q2 Market Stats

The market has sure picked up from Q1!

 

We went from 111 new listings in Q1 to 174 in Q2.

The number of closed homes went from 49 in Q1 to 95 in Q2.

The average days on market decreased by 24 days! It was 87 in Q1 to 63 in Q2.

And lastly, the average sales price increased from $504,853 in Q1 to $516,338 in Q2.

 

As far as year over year goes, it's a similar comparison. Please see the snapshot below for more details.

 

Questions or thoughts? Feel free to reach out- we'd be happy to chat.

 

Amanda

 

 

Posted in Newsletter
April 10, 2024

2024 Q1 Market Stats

The market is sure feeling more active then it did this time last year and the number of new listings and our office's under contract stats will confirm.

It seems as if we're past the adjustment period- it was quite the adjustment going from the covid market, to the post covid wind-down, followed by the interest rate increases. 

As far as the rates go, and per the Freddie Mac economists, they've been showing little movement, hovering around 6.8%. Since the start of 2024, the 30-year fixed-rate mortgage has not reached seven percent but has not dropped below 6.6 percent either. While incoming economic signals indicate lower rates of inflation, we do not expect rates will decrease meaningfully in the near-term. On the plus side, inventory is improving somewhat, which should help temper home price growth.

Source: https://www.freddiemac.com/pmms

Questions or thoughts? Feel free to reach out- we'd be happy to chat.

 

Amanda

 

 

April 10, 2024

EWR Agent Happenings - 2024 Q1

.
Wondering what we've all been up to the last few months? It's been eventful!
.
First and foremost, the Hamiltons have received the best news of all- Carrie BEAT the cancer! We're so thankful for everyone who reached out and supported her in such a tough and trying journey. They've also been soaking up as much quality time with their grandson as they can.
.
Next up, Nicole has joined the board for the Special Olympics. She's also going to be the cheerleading coach and fundraising for their upcoming event on April 19th. To learn more, visit their facebook page!
.
Josh has been busy between real estate and getting Yoder Donuts up and running for the 2024 season! The team isn't mad about having an 'in' with the best donut truck in town.... ;)
.
And lastly, me and Dave have been wrapping up the final aspects to the new real estate agent training company which we just launched on 4/4! In addition, we're gearing up for fishing, Ladies Golf League and a wild season of 5 year old t-ball.
.
Thanks for being here and we all hope you have a great summer!
.
Amanda

 

Posted in The EWR Difference
April 9, 2024

Exciting Announcement!

📣 Exciting Announcement!

At Elite West, we believe every new agent deserves a launchpad for success, not a starting line with a blindfold on.

It just doesn't sit right with me that so many new/inexperienced agents are left to figure things out on their own, starting from scratch without proper guidance. Sadly, a lot of agents in our industry are not getting the training they need to really excel in this industry and, most importantly, best protect their clients' interests.

From day 1 of opening Elite West Realty, I've been dedicated to crafting not only an internal training program tailored for new agents, but an exceptional client experience as well. As a Broker, watching our agents evolve from newly licensed individuals to confidently delivering exceptional client experiences is truly rewarding- by far my favorite part about being a Broker.

And this is why I'm excited to announce that our internal training program is now open to ANY agent, no matter where they live or which brokerage they're with!

Our comprehensive training program is offered as a year-long membership, encompassing ALL our courses, on demand. It includes The Agent Training Bible™, featuring workbooks for each course, alongside a vault of resources (75+ and counting) such as checklists, guides, templates, and more. Additionally, members will have exclusive access to a live monthly Q&A session where I'll address questions in rapid-fire fashion.

In addition, our courses have been developed in collaboration with industry experts, including the Attorney who provides legal counsel to the Wyoming Association of REALTORS®.

To learn more, visit us at www.askagentannie.com or follow us on social! Thanks for sharing!

www.facebook.com/askagentannie

 

Kindly,

Amanda Zaddock

Posted in The EWR Difference
Jan. 22, 2024

January 2024 - Real Estate Newsletter

January 2024 Email Newsletter by amanda.zaddock

Posted in Newsletter
Jan. 22, 2024

Interest rates in 2024

When it comes to interest rates, we're hopeful when to comes to rates in 2024! According to Fannie Mae, rates peaked in October of 2023 at 7.8% and have continuously ticked downward since then. And according to the analysts at Fannie Mae, the average 30-year mortgage rate is now expected to end the year below 6%.

 

We're currently sitting around 6.87% for a 30-year conventional loans, with other loan types offering even better rates. FHA and VA loans are down to 6.12%.

 

Fannie Mae: https://www.fanniemae.com/newsroom/fannie-mae-news/mortgage-rates-expected-dip-below-6-percent-2024-boosting-home-sales

 

Posted in Buyer Tips
Jan. 22, 2024

5-Year Market Stat Snapshot | 2019-2023

 

It's been quite the ride when it comes to the real estate market over the last 5 years!

Below you'll find a snapshot of the changing market from the pre-covid to post-covid years. As we're past the fast-paced market of 2020 and 2021, we're getting back to a balanced market. Partially due to increased property values, along with increased interest rates. Overall, the local market is healthy. Inventory is low though as it's hard for sellers to give up those 3% rates for 6%, however, we're hopeful they continue ticking down between now and then end of 2024. When that happens, demand will rise though as many buyers who are sitting on the fence will be jumping back into the pool.

So, if you're considering buying, we wouldn't recommend waiting for rates to drop - as prices will just end up increasing at the same time. Buy the home when the right one comes up. You can always refinance later!

Are you regretting making a move in the last 5 years? Reply to our newsletter and let us know!

 

Cheers to 2024,

Amanda

 

 

 

 

 

 

 

Jan. 17, 2023

Pre to Post-Covid Market Stats - How it's Changed!

 

We've had a serious case of the cha cha slide in our real estate market the last few years. So much that it may be difficult to understand and know where our current market is.

 

Next up is a snapshot of the changing market from the pre-covid to post-covid years. This last year was definitely slower than the 2020/21 craziness, but the stats are still quite good. The rising interest rates have sure deterred folks from selling and have created a smaller buyer pool though. We're hoping to see them peak and come back down between now and the end of 2024.