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What the Latest NAR Settlement Means for You

The recent settlement in the National Association of Realtors (NAR) case has sparked widespread discussion and, unfortunately, some misconceptions. Despite what the headlines may suggest, the NAR settlement is not about diminishing the value that real estate professionals provide. Instead, it’s an opportunity to enhance transparency, flexibility, and ultimately, the consumer experience in real estate transactions.  It is a chance to show consumers how we, as dedicated agents, play a crucial role in this new era of real estate.

To read more about the settlement, please visit the NAR Lawsuit in Tulsa page on the Accent Realtors website,  or the NAR Settlement Overview on the National Association of Realtors website.

The Reality of Broker Fees

The settlement does not mandate changes in broker compensation. It rather ensures that real estate fees remain as they have always been – negotiable and diverse. As a buyer or seller, this translates to a variety of choices in service levels and pricing. It provides the flexibility to find options that align with your financial plans and needs.

clients and realtor discussing NAR settlement on ipad

The NAR Settlement Clarifies Agent Compensation

Addressing a common misconception, the NAR settlement does not disrupt the seller’s established role in compensating the buyer’s agent. Indeed, as a seller, you retain the discretion to decide on this aspect. This element of the settlement enhances the existing flexibility, as a matter of fact. It empowers sellers to make strategic decisions that align with their unique goals.

man and woman reviewing documents with realtor

Enhancing Market Dynamics

While the NAR settlement won’t revolutionize housing affordability overnight, it does bring to light the intricate dynamics of real estate pricing. With or without changes in commission structures, our role as agents is to navigate these dynamics to your advantage. Whether you’re buying or selling, we’re here to ensure you understand the market forces at play, helping you make informed decisions that align with your financial and lifestyle goals.

happy couple shaking hands with realtor

The True Value of Real Estate Professionals

Amid discussions of financial restitution and industry practices, it’s essential to remember the value that experienced real estate professionals bring to your journey. Beyond transactions, we are advisors, negotiators, and advocates who strive to make your real estate dreams a reality. The NAR settlement reaffirms our dedication to serving you with integrity, professionalism, and also a deep commitment to achieving your goals.

happy homeowners celebrating real estate transaction after NAR settlement changes to the process

Embracing the Future of Real Estate After the NAR Settlement

The NAR settlement marks a step toward a more transparent and adaptable real estate landscape. Meanwhile, for consumers and agents alike, this is a moment to embrace positive change. As your trusted agents, we’re excited about the opportunities this new landscape presents. Together, we can navigate the changes, leveraging our expertise and commitment to ensure a seamless, rewarding real estate experience for every client.

In this evolving journey, our promise to you remains unchanged: to provide guidance, support, and unwavering dedication, ensuring your real estate decisions are informed, strategic, and successful. Staying informed and understanding these developments is crucial, especially if you’re entering the market. The real estate industry continues to be dynamic and full of opportunities. If you have questions about how the settlement affects you, our team is here to guide and support you. We’re committed to ensuring a positive and seamless real estate experience, helping you realize your dreams and achieve your goals with confidence and excitement.

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Are you ready for the next storm?

Hi!  My name is Gary, your local insurance broker with www.TulsaInsurance.com.

Do you recall the last catastrophic hailstorm?  I do!  It was 12 years ago… 2008 to be precise, and it took months to get all the roofing claims completed.  What a crazy time!

Is your homeowner insurance policy ready to help you during the next catastrophic hailstorm or tornado?  You should have your homeowner insurance policy reviewed at least every 3 years to ensure you are covered.  When is the last time you did that?

Specifically, you need to check your current roof coverage.  Insurers across the state may change your roof coverage from Replacement Cost Valuation (RCV) to Actual Cash Value (ACV) over time, which means you may not have enough insurance funds to replace 100% of your roof in a covered claim.  For a Free No Obligation Policy Review, please email gary@tulsainsurance.com or call 918.830.4294.

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It’s a Great Time to Invest in Tulsa Real Estate!

What a great month is has been for buyers here on the Tulsa, OK real estate market!

After all, the average listing price has gone down as has the average price per square foot. What’s more, the total number of home sales has decreased.

This indicates that it’s a great time to get a good price for a home here in Tulsa – and then turn a nice profit down the road.

If you’ve been on the fence about whether to purchase a home here, continue reading to learn more about the current state of the market.

An Overview of Real Estate Activity in Tulsa

Here’s what every home buyer should know about the current state of the market here in Tulsa:

  • Currently there are 2,057 homes for sale on the market, including hundred that are some stage of the foreclosure process.
  • Between March and June, the average price per square foot for Tulsa homes was $84, down 3.4 percent from the same period a year ago.
  • Also during that time period, the median sales price for homes here was $136,500, based on 363 home sales.
  • When compared to a year ago, the median home sales price increased 1.1 percent, or $1,500.
  • And the number of home sales decreased 67 percent.
  • During the week ending on June 3, the average listing price for Tulsa homes was $254,059, down 0.3 percent from the week before.
  • During that previous week, the average listing price was $255,000.
  • Popular neighborhoods in Tulsa, including Lynn Lane and Maple Ridge, meanwhile, had average listing prices of $225,169 and $511,012, respectively.

We’ll Help With Your Next Tulsa Home Purchase

As you can see, it really is a great time to be a home buyer on the local housing market here in Tulsa.

Thus, if you’re ready to take that next step toward finding your dream home here, please make sure to connect with us at Accent Realtors.

We would love to assist you by answering any questions you might have as well as providing you with some valuable home buying resources. We’ll also tell you all about the available listings right now on the market.

Until next time,

Paul

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Plenty of Fun Things to Do in The Tulsa, OK Area This Month!

Summer is officially in full-swing here in the Tulsa area! We love this time of year because it’s a great time to kick back, unwind and enjoy the company of those who matter with you most!

To that end, we wanted to share with you some upcoming community events that we thought you and your family might be interested in checking out.

If you end up attending one of these community events, please let us know! We’d love to hear how it goes!

Mark Your Calendar For These Tulsa Area Events in June

So without further ado, here are some upcoming events that are worth checking out if you live in the Tulsa area:

Zoorassic Park: Take your kids back in time with this special showcase at the Tulsa Zoo. Zoorassic Park 2 features 26 giant displays, including 11 dinosaur species. The exhibit also features two super-sized bug displays, including a grasshopper and ladybug. It’s a fascinating exhibit for the whole family!

  • When: Now through August 31
  • Where: Tulsa Zoo
  • Admission: Admission to the special exhibit is just $5 per person with regular zoo admission or $4 per person for members.
  • More Info: Visit http://www.tulsazoo.org/roar

Warren Theatre Summer Kids Series: This series is free to the public and includes fabulous productions of such fan favorites as The Croods, Puss in Boots, How to Train Your Dragon, The Lego Movie and Turbo.

  • When: Now through August 4
  • Where: Broken Arrow Warren Theatre, 1700 W. Aspen Creek Dr. in Broken Arrow
  • Admission: FREE!
  • More Info: Call (918) 893-3545

Local Farmer’s Market: Even if you’re not grocery shopping, the Wagoner Farmer’s Market is a great way to get out and meet your neighbors. The market is open every Thursday evening from 6:00 to 8:00pm

  • When: Every Thursday
  • Where: Cherokee and Main Street in Wagoner, OK
  • Admission: FREE
  • More Info: Visit www.tulsaworld.com

Confidence Camps: This summer, bring your kids to this camp series at Guts Church in Tulsa. It’s a great way to keep them busy this summer while giving them a new skill they’ll learn for their entire lives!

  • When: Starting Monday, June 15 and repeating every week on Monday, Tuesday, Wednesday, and Thursday until July 27
  • Where: Guts Church, 9120 E Broken Arrow Expressway in Tulsa
  • Admission: $50 per child
  • More Info: Call (918) 622-4422

Interested in Relocating to Tulsa?

We hope you get a chance to check out at least one of these events this month in Tulsa. They really sound like they’ll be enjoyable events to experience!

For now, if you’re interested in relocating to Tulsa and making this your permanent home, please don’t hesitate to contact us at Accent Realtors today.

We would love to assist you by answering any questions you might have as well as providing you with some valuable home buying resources.

Until next time,

Paul

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Thanks to Everyone Who Made Our Shredding Event a Success in Tulsa!

We are thrilled to report that our recent shredding event was a great success and we just wanted to take a moment to thank everyone who came out to support us!

For those of you who might not know, we hosted a community shredding event on April 25. More than 75 people came out to support the event by bringing items they wanted shredded.

More than just a place to securely dispose of important documents, however, our event was a way to get to get more connected with the community.

After all, we also provided face painting for the kids along with child-friendly games and free refreshments.

It was wonderful getting to enjoy the great weather, hang out with our neighbors and also give back to the community at large. So thanks for everyone’s help in making the event a success.

Did You Happen to Attend Our Shredding Event?

Then please make sure to head over to our Community Events page to see if you’re in any of the pictures we took at the event.

The page also has some great information about other past events we’ve held in the region.

Giving Back to the Community is Part of What We Do

We here at Accent Realtors believe not only in delivering quality real estate services to the community but also making the area better as a whole. That’s why we pride ourselves on regularly hosting events like the recent shredding event.

We hope you get a chance to check out our next event. For now, if you’re interested in buying or selling real estate anytime soon in the Tulsa area, make sure to contact us at Accent Realtors. We’d be happy to assist you!

Until next time,

Paul

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2014 Tulsa Real Estate Market in Review

Recap of the 2014 Tulsa Real Estate Market

The Accent Team had another wonderful year in Tulsa, and I hope you and yours had a fantastic 2014 as well! Buying and selling real estate is a huge investment. Find out how yours is faring.

Real Estate Market Recovery

Real Estate MarketThe market continues to recover although, at a slower rate than 2013. It also ebbed and flowed more in what we call a “see-saw” recovery. With a global economy, we are affected by so much more than just our local happenings.
The number of sellers in the Tulsa market was up 3.7% in 2014 vs. 9% in 2013.

Shifting to a Seller’s Market

Inventory was down compared to 2013. Tulsa area Months Supply of Inventory (MSI) was down from 7.18 in 2013 to 5.96 in 2014 which means we are heading towards a seller’s market.
Average time on the market was down to 52 days in 2014 compared to 54 days in 2013 and 60 days in 2012.
The most expensive home sold in the Tulsa area sold for $3,475,000 at 26th and Lewis.
Average sales price went up because buyers are finally buying the larger and more expensive homes.

Appreciation Prediction

Appreciation is always a tough number to pin down without selling the exact home multiple times over a period of time.
Our rough estimates are about 1% appreciation this year. We prefer to see 3-7%, but at least we are not losing value in most areas of town.

Effect of Interest Rates

Last but not least, interest rates are expected to rise in 2015, but then, they were also expected to rise in 2014 and did not.
Economists are guesstimating an increase to 5% or more by the end of the year.

Real Estate Investment

So- What do we recommend?

It’s still a buyer’s market in almost all price ranges but things are moving quickly if marketed, staged, and priced well.
It’s a great time to buy because of low rates and being close to the bottom of the market. Because the buyers are out in full force and low inventory, it is also a decent time to sell.
As rates go up over time, the buyer’s ability to buy will be affected.

We’re Here To Help

All this being said, we are extremely excited about 2015 and our ability to serve our clients even better! If you need any additional data or general information about the market, don’t hesitate to contact us. We are here to help!

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Accent Gives Back

Accent Gives Back!!
For every home closed Accent gives $25 dollars to the charity of our Buyer’s/Seller’s choice.
This month we have given to:
The Church at Midtown
The Church at Battle Creek
First Baptist Church in Catoosa
Big Brothers & Sisters
Pet Adoption League (2)
Make a Wish Foundation
Tamboa Buddhist Temple

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Real Estate Recovery

Some of our team members and I just returned from a fantastic real estate conference in Phoenix called Breakthrough 2013. Having been through a down market for the last several years in real estate, the overall theme of the conference was on recovery. It was so refreshing. Since 2007 we have had to adjust, adapt, streamline and make everything more efficient to stay profitable. We lost hundreds of Realtors in our Tulsa real estate market and even lost a few of our big name, long standing real estate companies to buy outs. But now, with our low interest rates, shrinking inventory, recovering economy and buyer pool size, we are finally seeing the first signs of recovery. So what did they really tell us in Phoenix? They reminded us of the value of relationships. They reminded us that great communication is more important than ever. 90% of all communication is still offline. They reminded us not to take life too seriously and that laughter is still the best medicine and last but not least, they reminded us to not let the pain or challenges of the past blind us from the promise of tomorrow.

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Tulsa Real Estate Market Update June 2013

We have found over the years that the best way to handle an interesting market is to understand it and educate ourselves on the trends and nuances of any changes it might be going through. Before I became an expert, I used to just cross my fingers. That was not a very good strategy.

So, we are seeing pending sales on the rise in our area. This is a good sign. More buyers are back in the market and the move up buyer is back as well. Inventory has come down but is trending up slightly because of the busy summer season. We are trending toward a more balanced market but it is still a buyers’ market with some great values out there. Economists are estimating around 1-3% appreciation this year in our values. This is a very moderate appreciation rate. Our average price of properties that are selling have gone up nicely though. This is just because bigger homes are now selling. Mortgage rate analysts are predicting around 4% by the end of the year which makes now the perfect time to buy. Last but not least, rents are increasing in our area after a decline in the toughest part of our real estate downturn.

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Productivity

A lot of people ask me how to make their days more productive. We all have the same 24 hours in everyday, and how we use it is critical to our success. One of the best things I have learned about productivity is that if we are working in our areas of talent, we can be much more productive.

I try to spend 80% or more of my day in things I excel in. The benefit of this is that you generally really enjoy those activities as well. So, find out what your strengths are. There are too many personality assessments out there to count but most will pinpoint the type of work you will be most effective in. They will tell you whether you will be good with detail work or strategic planning or face to face with clients selling your services. They are wonderful resources to get you started in the right direction.

Another way to increase productivity is to be very intentional about your daily accomplishments. Each morning, spend time doing planning and in solitude. During this time you want to evaluate your day, your business, and your successes.

One of the most effective strategies I have in being productive is that I get up before everyone else does. I usually wake up between 4:00 and 5:00 in the morning. I have found it gives me a head start on the day and my brain is very creative at that time of day. I am able to learn more and find better solutions for my life. My daily ritual is to get up and make coffee and then head to the home gym to exercise for an hour. During that time I listen to audio books on my iPhone at 3 times the normal speed. This way I can listen to two to three books a week and continually improve my knowledge base. I have found that education will solve any challenge you might be having in your life. It doesn’t matter if it is business related, marriage related or even challenges you might be having with your children. I also do my daily planning and solitude during that time and answer the questions that keep me focused on the highest priorities for the day.

Questions I recommend are as follows:

How did I fill my cup yesterday?

Right now I feel? Why?

What is the one thing I want to do today? What is my intention?

What could I do today to change the course of my business?

What task is so urgent that it would damage my business if it were not accomplished today?

Which processes in my business could be improved?

How can I improve these processes?

What friction points exist today?

Are the friction points different than yesterday?

Lately I have learned…

5 things I am grateful for today…

I am joyfully anticipating…

Last but not least, structure your day in blocks of time, so that you are always focused and intentional in your activities vs. multi tasking and putting out fires. If you can block time to make calls or to do your appointments, you will accomplish so much more in your day. Hope this helps and don’t hesitate to call or email if you any questions.

Paul Wheeler

Tulsa Real Estate