New Rules Regarding Commissions

The news reports are confusing for consumers (and frankly real estate agents).

I have been studying the information to help convey the practical facts.

Commissions have always been negotiable. However, an agency has the right to determine their fee for the services provided. This fee is disclosed to the consumer, and the consumer has the option of working with the agency or not.

No fee is earned until we complete a transaction. Compensation is only paid if we finalize/close on a sale.

Currently, the listing agreement with the seller states the total compensation to be paid, and ultimately shared between the brokerages and the seller/buyer agents.

The new regulations (effective July 2024) will require buyer agency agreements. Buyers will acknowledge their financial responsibility for the buyer broker’s fee. This fee can be paid directly by the buyer, or negotiated in the offer to the seller in the form of a concession from the seller, or as a portion of the listing broker’s commission.

Bottom line- it’s a math equation to satisfy all parties.

Both the buyer and seller are ultimately paying for their representation through the purchase price funds and sale proceeds.

Moving forward, we will clarify the language that will be acceptable to lenders regarding seller concessions.

As a lifelong resident, with 40+ years of experience in this market, I am here to help buyers and sellers navigate the process.

Thank you for trusting me to assist with your island real estate needs!

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Irish Roots

Happy St. Patrick’s Day!  

A repeat post from 2016:

On my father’s side: my grandmother was born in County Clare in the Republic of Ireland, and my grandfather grew up near Ballymena and the Antrim Coast in Northern Ireland.  A real mixed marriage!

They met and married in Philadelphia, and vacationed in Stone Harbor each summer while raising 6 children (pictured in front of their compact rental cottage).

In the 1950s, my grandparents built a modest year round home in Avalon.  A family business brought the sons and daughters (including spouses and young children) from Philadelphia to Avalon shortly thereafter.

After visiting the beautiful windswept coast of Northern Ireland, I can totally understand my grandfather’s love of the shore.

Sand in our shoes… and salt air in our lungs 😉

Sláinte!

P.S.  According to family legend, my grandfather arrived to the United States through Canada. And my grandmother used her older sister’s ID to travel from Ireland to the US. Her grown children didn’t know her real name/age until she applied for Social Security! It’s important and relevant to consider that our family’s immigration history may be softened by nostalgia. 

Pictures from our 2008 trip to Northern Ireland.

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Stone Harbor Shiver 2024

Great weather for the annual Stone Harbor polar plunge.

For more info: Stone Harbor Shiver

THIS is the closest I’ll be to an ocean swim in March 😉

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4 years…

Facebook memories reminded me about the start of Covid in 2020.

Initially, I kept a journal with regular updates. It felt important to document the unprecedented times and real emotions.

My last entry was one year ago, and I will write something today to keep the information current.

I recently saw this sign framed in an Avalon summer house. It’s a stark reminder how our lives were turned upside down.

Thankful for good health (and vaccines!) in the years since.

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Spring?

It’s still winter, yet the bulbs in our yard and the change of wind direction say otherwise!

Some years, it seems like the cold northwest wind howls continuously from November through April. It has been noticeably calmer this winter.

Once the wind prevails from the south or southeast, we know that spring is headed our way.

Happy March ☘️

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Sunday Sunshine

Yet the cold temps confirm that it’s still February!!

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Capturing the Sun

The sun made a brief appearance during our regular early morning beach walk.

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Changes at the Shore

As a lifelong area resident, I completely understand the attachment to time-honored shore businesses.

I have wonderful memories linked to specific (mostly food!) establishments in Avalon and Stone Harbor.

In many cases, the original owners have passed on their responsibilities to the next generation. And those “children” may now be at the stage of their lives planning for retirement.

Running a seasonal business is challenging, and I’m sure it’s a difficult decision for owners to cash out.

Our favorite spots will eventually be replaced. And our children and grandchildren will carry the memories of the new places with them into the future.

Instead of lamenting about the “good old days” as we note the inevitable changes around town, we can look forward to new experiences to shake up our routine!

Posted in Avalon, New Jersey- News, Life at the Shore, Seashore Real Estate, Stone Harbor, New Jersey- News | Comments closed

Electric Island Car

At the end of January, we took delivery of a new Subaru Solterra EV – our first experience with an electric vehicle other than our e-bikes!

For now, I am using a standard outside outlet by our driveway for (slow) charging. I am fortunate to have access to faster charging options within walking distance of my office, but I haven’t used them yet.

Because most of my driving is on the island or nearby, the limitations of an electric vehicle are not a major concern. Plus we still have a standard gas car for long road trips.

At 100% charged, the realistic driving distance is approximately 180 miles. An overnight charge will typically add 20% to the battery. So I’ve been plugging in most days after work to keep a reasonable charge.

I haven’t ventured far enough to need to connect to a super charger to complete a trip- I guess that’s next on the list!

Summary- for local driving, it’s ideal. A fun “beach car” for sure!

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Shore Love

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