Navigating the Changing Landscape of Real Estate Compensation: What You Need to Know

Photo by by benedek from Getty Images Signature In the ever-evolving world of real estate, effective communication has always been a cornerstone of success. Changes brought from a recent NAR Settlement regarding how real estate compensation is disclosed are set to reshape how agents, buyers, and sellers interact. While these changes may seem daunting at first, they underscore the importance of clear, transparent communication in real estate transactions.   Understanding the Changes The recent legal settlements have introduced new rules that will significantly impact how compensation is disclosed in real estate transactions. While these lawsuits did not directly involve Idaho, where practices were already in alignment with proper disclosure standards, the new regulations will still affect how business is conducted. As of August 7th, the ability to disclose whether a seller is offering compensation to a buyer's agent through the MLS system is not allowed. Previously, buyer's agents could view this information and discuss it with their clients. Moving forward, this transparency will be removed, requiring a proactive discussion between the buyer and their agent about how the agent will be compensated before any home showings occur.   What This Means for Buyers and Agents For buyers, this means that the first conversation with their real estate agent must now include a detailed discussion about compensation. This is a crucial step to ensure that both parties agree on how the agent will be paid—whether the compensation comes from the seller, the listing brokerage, or directly from the buyer. Real estate agents must now prioritize these compensation discussions, ensuring clarity and agreement before proceeding with any property viewings. The law is clear: agents cannot even open the door to a property without first addressing and resolving the compensation matter.   The Path Forward While these changes may introduce some initial confusion, they ultimately highlight the importance of professional communication and negotiation in real estate. The new rules may seem paradoxical—aimed at transparency yet removing a level of transparency that agents and buyers have relied on—but they also emphasize the need for clear, direct communication between all parties involved. Much like choosing the right professional for tax preparation—whether it's doing it yourself, using a service like H&R Block, or hiring a CPA—buyers now have more explicit choices about the level of representation they want and how much they are willing to pay for it. This flexibility ensures that there will always be a need for skilled real estate professionals who can offer expert advice and negotiate effectively on behalf of their clients. The real estate landscape is shifting, but the core principles remain the same: communication, professionalism, and negotiation are key. Those in the industry who can navigate these changes with expertise and clarity will continue to thrive, ensuring that buyers, sellers, and agents alike will be well-served in this new era of real estate transactions.    

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September Events in Boise

As September approaches in Boise, the stifling heat of the summer begins to give way to refreshingly brisk mornings and the city starts buzzing with activity. From Art in the Park to the Hyde Park Street Fair, Boise comes alive with a vibrant array of festivals, cultural celebrations, and community events. Check out this list of the must-attend events happening in Boise this September, so you can make the most of this exciting month.   Art in the Park September 6th to 8th Photo courtesy of Shutterstock Art in the Park returns to Julia Davis Park from September 6-8, celebrating 70 years as Boise’s beloved open-air art festival! With over 200 local and regional artists showcasing their work, you'll find a diverse array of art, including paintings, ceramics, textiles, jewelry, and much more. The booths are arranged in long rows, allowing you to leisurely explore the entire festival. There is also a children’s art tent near the Rose Garden, offering activities from 11 AM to 5 PM on Saturday, September 7, and from 11 AM to 4 PM on Sunday, September 8. Live entertainment will be featured at the Gene Harris Bandshell throughout the three-day event, with music and dance performances from 5 to 7:30 PM on Friday, September 6, from 3 to 7 PM on Saturday, September 7, and from 1:30 to 4:30 PM on Sunday, September 8. This event will also feature food trucks located along the road near the Greenbelt, the Bandshell, and other spots throughout the park.   Hops and Crops Festival September 7th, 12 to 4 pm Photo courtesy of Unsplash The annual Hops and Crops Festival is taking place in the Indian Creek Plaza on Saturday, September 7 from 12:00 PM - 4:00 PM. This event celebrates this region's rich agricultural heritage and features hop harvest tours, live music, and of course, a variety of local brews and ales. From the plaza, you can hop on a bus tour to a local hop farm in Canyon County, where you’ll get an insider’s look at the beer-making process. Back at the plaza, sample a variety of local beers, and hear directly from the farmers who grow the hops. With live music, Idaho brews, and an educational hop harvest tour, this festival offers the perfect mix of fun and learning. Hop harvest tours are first come, first served and long pants and closed-toed shoes are required for the tour. The first band, Tree City Travelers, will start up at noon, with the first Hops tour leaving at 12:15 pm. From 2:00 - 4:00 PM the second band, Hillfolk Noir, will play.   Hyde Park Street Fair September 13th to 15th Photo courtesy of Daniel Olson The Hyde Park Street Fair, happening September 13-15 at Camel’s Back Park, is an arts and music festival with a unique, hippie vibe. Since 1979, this event has featured a variety of local vendors, live music, and community activities like sound baths and yoga. Food trucks will also be onsite, so take a stroll through the booths and refuel with some delicious food! Concerts take place on both the Main Stage and Community Stage, with performances starting at 5 pm on Friday and noon on Saturday and Sunday. The headlining bands take the Main Stage at 8 pm each night,  with headliners including Bread & Circus, Matt Hopper & The Roman Candles, and Buddy DeVore & the Faded Cowboys.   Eagle Jazz and Blues Festival September 20th to 21st Photo courtesy of Unsplash The Eagle Jazz & Blues Fest is set for September 20-21, with events taking place at various locations across Eagle. This two-day festival showcases local musicians and offers a great opportunity to explore the city. On Friday, September 20, the festival kicks off with a free concert at Gem State Brewing (293 E State St, Eagle) from 6-8 PM and finishes with a Downtown Walking Tour, featuring four performances at different venues around downtown. On Saturday, September 21, the day begins with free jazz performances at the Eagle Saturday Market starting at 10 AM. In the evening, experience Jazz, R&B, and Funk Night with three performances at three different locations beginning at 6 PM. Stop by one of these events or immerse yourself in the entire weekend of Jazz! Tickets are for individual events and can be purchased here.   Open Streets Boise September 22nd, 12 to 5 pm Save the date and get your bike ready! The first-ever Open Streets Boise is happening on Sunday, September 22, from 12 to 5 PM. On this day, Latah Street on the Boise Bench will be transformed into a lively community hub where you can bike, walk, and explore the neighborhood. The event will feature local food, businesses, art, live music, and family-friendly entertainment. This free event starts a new annual tradition, created by the Boise Bicycle Project and the City of Boise, with plans to rotate to a different neighborhood each year.   World Village Festival September 27th to 28th Photo courtesy of Unsplash The World Village Festival will take place on September 27-28 at Cecil D. Andrus Park and Treefort Music Hall in downtown Boise. This event is organized by Global Lounge, a local nonprofit dedicated to promoting diversity through cultural activities. While this year’s schedule hasn’t been released yet, you can expect showcases of the many communities in Boise, including Mexican, Basque, Native American, Portuguese, Chinese, Japanese, Filipino, Indonesian, Bosnian, African, Laotian, North and South American, Middle Eastern, Indian, and Greek cultures. There will be live music and dance performances, various foods from each culture's cuisines, as well as vendors, artists, and booths representing local nonprofits and cultural organizations.    

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Labor Day Happenings in Boise 2024

Labor Day is coming up on the first Monday of September, which falls on the 2nd of this year. This holiday honors the accomplishments of American workers and has its roots in the workers' rights movement of the late 19th century. Celebrate Labor Day in style with these events happening in the Boise area! Photo courtesy of Shutterstock Spirit of Boise Balloon Classic: The Spirit of Boise Balloon Classic is a beloved annual event held at Ann Morrison Park. From Wednesday, the 28th through Sunday, the 1st, vibrant hot air balloons fill the sky, providing visitors with a unique opportunity to see them both up close and in flight. This multi-day event is free for everyone, with special activities planned on certain days, including Kids Day on Wednesday, August 28th.   Photo courtesy of Unsplash Yoga on the Mountain: One of Boise’s signature attractions is the Boise River, a 102-mile-long tributary of the Snake River that is a beloved spot to float down, enjoy the scenery, and relax during the warmer months of the year. Before the summer season is officially over, make sure to squeeze in one more refreshing float down the Boise! The put-in for the Boise River float starts at Barber Park, located in SE Boise off Eckert Road (about 6 miles from downtown). For more information on floating the Boise River, check out this blog.   Photo courtesy of Unsplash Discount day at the Warhawk Museum: The Warhawk Museum is located in Nampa and contains aircraft from different wars, including World War 1 and 2, the Iraq War, and the Korean War among others. What makes this museum special is the collections of uniforms, photos, medals, gear, and written narratives about the wars donated by family members of local veterans. The Warhawk Museum is open on Labor Day and offers general admission for only $5. This activity is perfect for kids with plenty of vintage planes to ooo and ahh over, and for adults to learn more about our local and national history.   Photo courtesy of Unsplash The Kuna Stampede: One of the best things about summer is the warm nights perfect for camping. A last-minute camping trip doesn’t need to be a challenging endeavor, all it takes is packing your car with the essentials (tent, sleeping bag, food, etc.) and choosing a campsite near Boise. You can even make it a backyard camping trip for a fun and easy experience at home!   Photo courtesy of Shutterstock The Popout: Labor Day Party at Treefort: Boise’s top DJs and promoters are joining forces for an unforgettable event: The Popout, on Saturday, August 31st! This 18+ party is set to take over Treefort Music Hall, promising a night of non-stop music and energy. Whether you're looking to dance the night away or simply soak in the vibes, Treefort is the place to be this Labor Day.

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