I got a phone call yesterday from a real estate agent in New Haven, Connecticut. She told me she had a buyer who was interested in a house in North Branch NY (which is about 15 minutes away from my home office.) I expected her to ask me if I would take a referral for this buyer, (which has been pretty much the norm since I can remember.) However she did not ask me that. She asked me if I would show her buyer the house for a $50 fee!

I politely declined. I want no part of a greedy agent who wants to manipulate the system so she can make the bulk of a commission. It annoys me that there are agents out there who put their own financial gain above their clients well being. She has no idea of prices or trends in Sullivan County. How can she in good faith negotiate a sale from an office 130 miles away?

And last week I got a call from an agent in NYC who wanted me to take pictures of a listing she was getting in Bethel. Again for a fee. She did not want to make the drive! I declined that offer also. (I saw the listing go live so it looks as though she found someone to do it.) How can you list a house for a 3% commission and not even bother visiting the property?

And now an hour ago, I got a call from a buyer looking for another KW agent who was supposed to show him a house in Cochecton. But he wasn’t returning his phone calls. I looked him up. He is located in Syracuse.  (And he is paying for leads from Realtor.com for Sullivan County.)

Agents like this are the reason the NAR lawsuit happened, and why the real estate industry is shifting.

Back when I started selling real estate here in Sullivan County in 2007, We had our own MLS just for Sullivan County. There was some cross over since Hudson Gateway was also an active MLS, so most Sullivan County agents were members of both. However most down state (and out of state) agents were not members of the Sullivan County MLS. I knew pretty much every broker or agent who sold real estate in Sullivan County well. (The number shrank further during the financial crises.) A downstate agent did not have access to our MLS, so we would get a referral,  and a buyer or seller would get a local agent who knew the area and the inventory.

Sometime around 2015 or so, Sullivan County MLS merged with Hudson Gateway, and a few other downstate and Long Island MLS’s to make one large MLS where all agents had access to all the listings. Slowly I have seen the trend emerge. As the market has gotten better, more people have gotten their license and because the MLS is now so vast, agents are able to take listings all over the state! More and more I am seeing agents from New York City or Long Island list homes here in Sullivan County. 

I may be sounding like an old man here wishing for the glory days, but I feel like this is not a positive outcome for buyers and sellers. I would not ever take a listing on Long Island or Westchester County. (And I am licensed there and could legally do so.) I am not an expert in that marketplace. I suppose I could pull comps and come up with an educated guess on value, but I could not in good conscience broker a deal from that far away.

And now many agents are terrified of the pending changes. And what it means for our industry as a whole. As buyer’s agents become less prevalent, and getting listings becomes that much more valuable, I think we will see more of these unscrupulous agents who will take any listing at any cost.

So if you are thinking of buying a home or selling your home in the near future here in Sullivan County. I would recommend you do your research and find a local agent who specializes in that area. I cover Sullivan County. That is my area. I know the market and I can get you top dollar for your home. But if you also have a house in West Babylon, then I am not the right agent for you.

I have not written an actual meat and potatoes blog post in a while, but with all these changes and rumors floating around regarding the settlement of the National Association of Realtors anti-trust lawsuit, I thought I’d weigh in with my own two cents.

Now obviously my opinion means very little. However, I am a bit annoyed and surprised at the news media coverage of this landmark suit.

For those of you who don’t know about it, NAR was sued via a class action lawsuit alleging that brokers are price fixing commissions, and that the common practice of a seller offering a co-broke commission split to a buyer’s agent is somehow unfair and unethical.

As we all know, we live in a society of litigation. There are many powerful, very rich attorneys who are constantly on the lookout for the possibility of new lawsuits and ways to make millions suing corporations large and small. Ultimately the only people who make any real money on these class action suits are the lawyers. (With so many plaintiffs, the payout per person is only a few hundred dollars at most.)

So along comes such rich and powerful attorneys like Michael Ketchmark, Doug Miller, Jerod Breit, and Jeremy Keel. They decided that the current way real estate brokers do business is a good target for their next big payday, because seller’s agents currently offer part of their commission to buyer’s agents. (Also known as co-broking)

I have tried to understand how this is an anti-trust case, and really for the life of me I cannot. I guess part of the argument is why would a seller pay a buyer’s agent to work against them? And I suppose that makes sense, however since the money ultimately comes from the buyer, then isn’t the buyer already paying that fee? At any rate, after many years of litigation. (Until they ultimately drained NAR’s defense fund) they convinced a jury that the practice is unfair, and NAR was forced to settle.

A lot of this is above my paygrade. I do believe if there is genuine confusion over who pays what commission, then the current way of doing business needs to change. However I also believe that buyers (especially first time buyers) who need guidance, yet don’t have a lot of extra money, will really be hurt by this. Buyers need representation. If commissions can no longer be rolled into the price of the home, how can the buyer pay? They are already up against a ton of closing costs. Will buyers be forced to pay out of pocket fees or attempt to buy a house unrepresented? We will see how it shakes out.

What really annoys me though is the attorneys who have brought this case.  They are currently doing a media tour, espousing how they are knights in shining armor doing battle for the poor uniformed homeowners and buyers. How they alone will save everyone millions from greedy real estate brokers.

These law firms have brought this lawsuit for one reason. To make money. And to make more money than 99% of all real estate agents will make in their entire career.

The settlement was 458 million dollars. We do not know what Ketchmark and his cohorts are actually putting in their pockets, (because unlike the NAR rules which says agents must disclose their commission rates on the MLS) these attorneys are allowed to hide their percentage. However people smarter than me have done some digging. From what they uncovered, “standard” contingency fees range from 33-40% Lets give them the benefit of the doubt and say they are charging 30%. That puts the fees collected by these bemouth law firms at 137 million dollars.

Also aren’t “standard fees” what these attorneys are suing against in the first place? How can they justify an identical practice?

The average real estate agent in the US made $44,000 in 2023, (which means that same average agent would have to work for three thousand years to equal Ketchmark’s single payday for this lawsuit) yet somehow we are the greedy, overpriced industry? The hypocrisy is so glaring. I have linked a video where Ketchmark has the nerve to refer to a real estate commission as a “rip off”!

This video (click the link) annoys me for a number of reasons. Its interesting how Josh Flagg, (who is the stereotype for a gaudy rich broker) was picked by CNBC to be the voice for millions of hardworking agents. He comes across so poorly, its cringeworthy. But this is all a carefully planned media tour to paint these greedy attorneys as the saviors. Much like they did in the numerous tobacco and drug cases. The only people who made money off those lawsuits were lawyers. And they made astronomical amounts.  This is the industry that needs to be regulated and scrutinized. But that will never happen. These people are too powerful and their pockets are too deep.

So over the next few months (and years) as the real estate industry scrambles around to try to adhere to the new rules and regulations. Ketchmark and his band of bullies will be off in search of their next million-dollar payday.

Spring is an excellent time to put your house on the market, especially  here in picturesque Sullivan County, NY. As the snow melts and the flowers bloom, potential buyers poke their heads out and are eager to explore new homes. Now is a great time to list your home for sale. Here’s a comprehensive guide on how to get your home ready for sale this spring:

1. Curb Appeal Matters

First impressions count! Enhance your home’s curb appeal to attract buyers. Here’s what you can do:

• Lawn Maintenance: Mow the lawn, trim bushes, and remove any dead plants.
• Colorful Blooms: Plant some vibrant flowers or add potted plants near the entrance.
• Clean the Exterior: Power wash the siding, clean windows, and repaint if necessary.

2. Declutter and Depersonalize

Buyers want to envision themselves in your home. Follow these steps:

• Declutter: Remove excess furniture, personal items, and knick-knacks.
• Neutralize: Paint walls in neutral colors to appeal to a broader audience.
• Pack Away Personal Photos: Let buyers focus on the space, not your family memories.

3. Spring Cleaning Inside

A clean home is inviting. Pay attention to:

• Windows: Clean both inside and out for maximum natural light.
• Floors: Vacuum carpets, mop hardwood floors, and steam-clean tiles.
• Kitchen and Bathrooms: Scrub countertops, appliances, and grout.

4. Repair and Refresh

Fix minor issues to make your home more appealing:

• Check for Leaks: Fix leaky faucets, pipes, and roofs.
• Replace Broken Fixtures: Update outdated light fixtures, doorknobs, and cabinet handles.
• Fresh Paint: A fresh coat of paint can work wonders.
• Have a Home Inspection: The buyer will have one done eventually. It is a good idea to have one done prior to listing. That way any unknown issues will come up, and can be addressed before listing.
• Clean your gutters.  Here is a link on how to Clean your gutters

5. Stage Your Home

Staging helps buyers visualize the potential of each room:

• Furniture Placement: Arrange furniture to highlight the room’s best features.
• Add Accessories: Decorative pillows, rugs, and artwork can make a room feel cozy.
• Set the Dining Table: A set table gives a warm, welcoming vibe.
• I am an expert when it comes to staging. Let me help

6. Highlight Outdoor Spaces

Spring is the perfect time to showcase outdoor areas:

• Deck or Patio: Clean and stage these spaces with outdoor furniture.
• Gardens and Landscaping: Trim hedges, plant colorful flowers, and create inviting outdoor nooks.

7. Price It Right

I will work closely with you to determine the optimal price for your home. I will research comparable properties in Sullivan County and recommend a competitive price. My goal is to get you the most money I can for your home.

Remember, a well-prepared home stands out in the spring market. Good luck with your sale! 🏡

Homebuyer Dream Program

FHA loan is one of your options

FHA loans are issued by private lenders, including banks, credit unions and online lenders — but they’re guaranteed by the Federal Housing Administration, a government agency. That guarantee, which protects lenders against losses if you default, means borrowers who may not have great credit or who don’t have a big down payment have an easier time qualifying.

A lot of first-time homebuyers opt for FHA loans, but you don’t need to be a first-time buyer to get one. (However you do need to be a first time home buyer to receive the credit.)  Any borrower can benefit from the easier qualifying process, as long as you’re buying a house or a multifamily residence where you’ll live most of the time. You need a credit score of at least 580, and you will need to put down 3.5%. Private mortgage insurance (PMI) will also be needed.

So if you have a credit score higher than 580, and make less than 73K a year, with interest rates at around 4%, and 15K in closing costs covered, it really has never been cheaper or easier to buy a house. Call me today for more info on how I can get you out the endless cycle of renting. You can buy a house with less money than what most landlords are asking for. (First month, last month and one month security) Click on the link on this page to search for houses in that FHA sweet spot in Sullivan County (110K to 250K) And then give me a call. I can help you with all the details.

The market is undoubtedly heating up. It has been a busy summer, and now as we get into September, all those deals that were put together throughout the summer are heading to the closing table. In the last 10 days, there were 43 sold homes reported in the Sullivan County MLS. That is by far the most I have seen in a 10 day stretch since early 2008.

I suppose its fitting that I am writing this on the anniversary of Lehamn Brothers filing for Chapter 11 nine years ago. It has been a long slow climb, but now all the signs are pointing to a real estate market rebound. Prices here in Sullivan County have not started to go up yet, but interest and volume have, and with that prices are sure to follow. With interest rates low, right now is a good time to buy.

Click Here for the link to all the sold homes in the last 10 days in the Sullivan County MLS

There have been two new lakefront listings that have come on the market on Lake Loch Ada in the last few weeks. They are both pretty fabulous houses right on the water. Having this kind of inventory pop up on this lake is quite rare.

Loch Ada is my favorite non-motorboat lake. (Tennanah Lake is my favorite motorboat.) It is because both have an Adirondack–1950's–"summer in the country" feel. It is a difficult feeling to describe, but Loch Ada has it in spades. There are only dirt roads around the lake, and all the homes are tucked in under big evergreens and oak trees. The lake is spring fed, making the water cool and crystal clear.

Both may seem a little pricey in the 400K range, but they are actually both priced pretty well in this market. I firmly believe that soon we will be back to the days of wishing for good lakefront inventory under the half a million mark. Here is my page on Lake Loch Ada with the new listings.