Happy June! The year is flying by, which means summer is just around the corner! For those of you who are former clients of mine, you should have received your invitation to my Mosaik home ownership and search tool in your inbox. I hope you check it out. If you have not received your invitation and want to take a look, let me know!
This month in the newsletter I have some fresh content lined up, I hope you enjoy it:
Real Estate News: An Update on Real Estate Commissions After the “Big” Lawsuit
Homeownership Tips: Making Your Home Vacation Ready
DC Metro Area Real Estate Market Data
Neighborhood Spotlight: Rhode Island Avenue / Brentwood, DC
I also know that many of you in the DC area are continuing to face uncertainty, job loss, or other challenges that may be causing you anxiety or affecting you or you family in other ways. I am here for you – whether you just want to talk as a friend or need advice about your specific situation, I am just a phone call or email away.
If there is anything I can help you with in the meantime, whether buying or selling or real estate advice, I would love to chat more!!
Best,
Hannah
You might recall the news from last year…“Landmark Settlement: Real Estate Commissions to Drop”...“Powerful Realtor Group Agrees to Slash Commissions”...“Home Sellers to Save Thousands.” The settlement certainly generated some (sometimes misleading) headlines, but almost a year later, what has been the actual impact of this settlement, and what does it mean for you?
What was the suit all about?
In March 2024, the National Association of Realtors (NAR) agreed to a settlement to resolve multiple antitrust lawsuits accusing the organization of inflating real estate commissions through long-standing industry practices. Opponents criticized the traditional model in which home sellers often paid a commission to both their agent and the buyer’s agent. A group of sellers in Missouri said this practice was anti-competitive, and they felt forced to pay for the buyer’s agent. They sued, and after the NAR lost at the trial level, a $418M settlement was reached. Subsequent (and also eye-popping) settlements with specific brokerages have followed.
Were commissions under the old system really non-negotiable?
The short answer is real estate commissions have always been negotiable, despite some of the headlines to the contrary. Indeed, during my tenure in the business, I have negotiated a range of representation fees based on the complexities of the transaction, market conditions, and other factors. Each home is different, so it is not surprising there is no one-size-fits-all path to selling or purchasing one.
Remember that it is often in the best interest of the seller to offer a buyer agent commission. Home sales are expensive and complicated transactions, and having a well-educated and well-represented buyer on the other side of the transaction is immensely helpful for completing the transaction. Buyers are often saving as much as they can to cover the down payment and closing costs, so having to additionally pay for an agent to represent them could make homeownership unattainable. If a seller is unwilling to offer a buyer agent commission, they may be writing off a large segment of potential buyers for their home.
What did the settlement actually change?
The settlement took effect on August 17, 2024, and introduced two key changes to the way agents conduct business:
MLS Restrictions: The first major change was a rule that no longer permits agents to offer a buyer’s agent commission in the local property sale database (called the Multiple Listing Service, or MLS). This does not mean that sellers are not offering a buyer agent commission (most still are!), just that it cannot be advertised on the MLS. Instead, the commission may be advertised on brokerage websites or communicated via other means, such as via email and telephone.
Written Buyer Agency Agreements: While it was already standard practice in the greater DC area to sign agreements between buyers and their agents, it is now a requirement nationwide. Before an agent can conduct a showing, he or she must have a signed agreement with the Buyer outlining responsibilities and clarifying the services and compensation offered. This can be off-putting to buyers who are not sure they are ready to commit to purchasing a home, but more transparency in the process is generally a good thing.
So are commissions actually declining?
Not really, at least for the moment. The latest data from Redfin indicates that buyer’s agent commissions slightly increased since the settlement was effective, averaging 2.4% in Q1 of FY25. However, for homes sold above $1M, commissions are “flattening” to around 2.17% on average. Separately, according to a recently published study by the Federal Reserve, commissions are more likely impacted by changes in technology (which generate efficiency) and rapidly rising home prices than by the imposition of buyer agency agreements. The study found that commissions have modestly declined since the 1990s, but there was no material effect of requiring buyer agency agreements, a key element of the settlement.
Looking out long term, it is not at all clear what the future will bring for real estate compensation. Lots of changes in the industry, including the changes to the “Clear Cooperation” advertising policy I discussed in last month’s newsletter, are “making it difficult to predict the long-run effects of the settlement,” according to the Fed.
Regardless, real estate professionals are adapting to the rapid-fire changes in our business. Many agents are considering exiting the business, though personally I think it is a good thing if we are left with a smaller pool of more professional agents in the industry. At the end of the day, I would not be in this business if I didn’t think I was providing a great value to my clients. If you have more questions on what this settlement could mean for you as you buy or sell a home, I would love to talk more!
As a real estate professional, I know how important it is to protect your home, whether you're selling soon, building equity, or simply enjoying your space. With summer just around the corner, and summer vacations coming up soon, now is the time to ensure your home is secure and well-maintained while you’re away.
Secure Your Property Before you head out, double-check all entry points. Lock windows, doors, garage access, and even side gates. If you have a security system, make sure it's activated and tested. Setting indoor and outdoor lights on timers can also make your home appear occupied, which discourages potential break-ins.
Hold Deliveries and Mail An overflowing mailbox or a pile of packages is a clear sign that no one is home. Visit your local post office to place a temporary hold on mail and pause any regular deliveries such as newspapers, groceries, or subscriptions. Alternatively, arrange for a trusted neighbor to collect items daily.
Manage Utilities and Appliances Set your thermostat to an energy-saving mode to minimize utility bills without compromising your home's interior. Unplug unnecessary electronics to protect against power surges and save energy. If you'll be gone for an extended time, consider shutting off the main water supply to prevent potential leaks.
Tidy Up the Interior Coming back to a clean home makes your return much more pleasant. Clear perishables from the refrigerator, take out the trash, run the dishwasher, and do a final load of laundry. Not only does this prevent odors, but it also ensures you return to a fresh, welcoming environment.
Notify a Trusted Contact It's always smart to let a trusted neighbor, friend, or family member know your travel plans. Share your itinerary and provide emergency contact information in case anything urgent arises. Having an extra set of eyes on your property can offer priceless peace of mind.
By taking a few simple steps now, you can protect your home and enjoy your vacation worry-free. These strategies not only safeguard your property but also maintain its value and curb appeal—an important consideration whether you're planning to sell in the near future or just investing in long-term homeownership success.
Source: Beaches | Things to Do Before Going on A Vacation
Curious about how the housing market shifts from month to month? In this section I share insights about shifts in the market so you can make informed decisions about where you live. If you are interested in how things are changing week to week, you can also take a look at the weekly updates provided by Bright MLS in their Weekly Greater DC Area Housing Market Update for a deeper level of detail, but note that the data fluctuates more as you zoom into specific cities.
Washington DC Metro Area Housing Data
Data Provided by Bright MLS, as of May 6, 2025
Based on the latest data from April 2025 sales, here are a few key trends we’re seeing in the greater DC area market compared to 2024:
Total inventory surged in April. At the end of the month, there were 9,815 active listings, a 49.4% increase over a year ago. The number of new listings coming onto the market in April was 1.7% higher than April 2024.
Homebuying activity in the DC region is more subdued than a year ago. The number of new pending sale contracts in April was 6.6% lower than a year ago. Throughout the region, only Arlington County had more new pending sales in April 2025.
The Washington, DC metro area housing market is starting to experience the impact of DOGE and federal government workforce cuts. Buyers are more cautious, and the number of listings is up more than in other parts of the Mid-Atlantic.
Home prices continue upward even with this uncertainty. The median price of $655,215 in April 2025 was a record high for the region, up 2.4% year-over-year.
Overall, expectations for lower mortgage rates to affect the region’s 2025 spring housing market have been dampened by economic uncertainty, cuts to the Federal government workforce, and return-to- the-office policies. With more new listings coming onto the market, buyers in the DC region will have more room to negotiate. However, prices may continue to rise or hold firm in most local markets across the region.
Remember: these trends are averaged for the metro DC region, so what is happening on your street may be different. If you are interested in seeing the latest data for a specific neighborhood or zip code, don't hesitate to reach out! I'm happy to have a conversation about what these market trends mean for your current home's value or your future home search. Shoot me an email if you'd like to schedule a time to chat or want to be sent more information about what's going on in your neighborhood.
Source: Bright MLS
The Rhode Island Avenue/Brentwood neighborhood in Northeast Washington, DC, is rapidly transforming into one of the city’s most dynamic and desirable areas. Anchored by the Rhode Island Avenue–Brentwood Metro station on the Red Line, the neighborhood offers exceptional transit connectivity, making it a prime location for commuters heading downtown or to the Maryland suburbs.
The area boasts a mix of shopping options, from Rhode Island Place, home to national retailers like Home Depot and Giant, to the vibrant Rhode Island Row, which features 70,000 square feet of retail and restaurant space. Nearby developments, such as Bryant Street, are adding thousands of new residential units and even more retail, including the popular Bryant Street Market food hall, Alamo Drafthouse Cinema, and Kraken’s indoor pickleball courts and roller-skating rink. A personal favorite of mine is Metrobar, a fun indoor-outdoor space voted Best of DC in 2024. A long-awaited redevelopment of the large Brookland Manor Apartments has proposed 1,760 apartments and 181,000 square feet of retail space, including a full-service grocery store, ground-floor retail, and a 3-acre public park and plaza, but the development has been mired in controversy.
Bryant Street, Rhode Island Avenue / Brentwood Neighborhood DC
Brentwood is named after Robert Brent, who was appointed the first mayor of DC by President Thomas Jefferson, who built his home in what was to become the neighborhood. Its rich history is complemented by its modern amenities and growing community spirit. In addition to easy metro and bus access, the neighborhood is also on the Metropolitan Branch Trail (MBT), a popular biking and walking path that follows the rail lines from Union Station up to Maryland.
With a walkable environment and a diverse mix of housing, retail, and entertainment, Rhode Island Avenue/Brentwood stands out as a top choice for homebuyers and renters seeking urban convenience. Housing options in the neighborhood include 20th century rowhomes and newer condos and apartments. Townhomes in the neighborhood range from fixer uppers in the low $500s to more updated homes around $700K, and condos can be found from the mid $300s to the mid $600s.
If you're considering a move to Rhode Island Avenue/Brentwood, DC, or anywhere in the region, I would love to talk more!
WHY I WORK BY REFERRAL
Relationships are more important than transactions, so thank you for trusting me with your real estate needs. I would be honored to extend the same dedicated service I provide to my clients to your friends, neighbors, and colleagues. Thanks for connecting us via email or by sharing my website.
