Real estate
Real estate
BY COLBY FARR & CARSON WEAVER
BY CARSON WEAVER
Multiple Listing Service rules changing
Construction begins on 3 residential communities Story Built Homes, a recently launched custom homebuilding and remodeling company in the Greater Houston area, has begun building in three communities in Montgomery County, according to a June 13 news release. The overview According to the news release, the three Coton House, an interior design company native to Houston, for the construction’s interior projects. Quote of note
Stay tuned
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After the policy changes take effect, a final approval hearing for the settlement is scheduled for later in November. “Houston is going to be affected like everyone else because it’s a national settlement,” Mouton said. “We’re no different than any other state.”
A $418 million settlement with the National Association of Realtors in March may impact fees for buyers, sellers and real estate agents, starting in August. The settlement—brought on by class-action lawsuits alleging brokerages inflated buyer- seller commissions—will force the NAR to make policy changes to Multiple Listing Services, online platforms where real estate agents list homes. According to the settlement, sellers will pay smaller commissions and buyers will decide how much their agents are paid, among other changes. “When an agent searches for a home for their client, [the MLS tells] you what the listing agent is actually offering for compensation,” said Thomas Mouton, chair of the Houston Association of Realtors. “Now, that will not be displayed anywhere on the site.”
SPROUT CREEK CT.
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Updated MLS policies The changes outlined by the NAR settlement in March that go into effect in August include:
KB Home opens new community in Conroe KB Home announced Sagecrest, a new residential community located at 4744 Sprout Creek Court in Conroe, is now open, according to a June 10 news release. About the project The houses, which start from the $230,000s, will include expansive bedroom suites with walk-in closets, according to the news release. Sagecrest will feature one- and two-story floor plans with up to five bedrooms and 3 1/2 baths.
“We are thrilled to introduce a new chapter of custom home offerings to the Greater Houston area,” said Chastity White, vice president of sales and marketing, in the news release. “We’re dedi- cated to crafting unique homes by working closely with our clients.”
Compensation disclosures to sellers, and prospective sellers and buyers, are required. MLS participants can’t filter or restrict listings to clients based on the level of compensation offered to the agent. Listing agents can no longer make compensation offers to buyer agents on the MLS.
communities include one in Montgomery and two in Willis. Story Built Homes partnered with
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March 15: Settlement agreement signed April 24: Preliminary approval of settlement review granted by the court Aug. 17: Practice changes take effect; earliest day for lawsuit notifications to be issued to those impacted Nov. 26: Final approval hearing for the settlement
CLEAR VIEW DR.
1 Chapel Bend • 24842 W. FM 1097, Montgomery • 2-acre lots 2 The Harbor at Clear View Estates • 13100 Laura Lake Drive, Willis • Three-story townhomes 3 French Quarter • 10929 Bourbon St., Willis • Gated community with boat docks
LAKE CONROE
LAURA LAKE DR.
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SALLAS RANCH RD.
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1097
MLS users must enter an agreement with buyers before home tours.
Willis
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GAY LAKE RD.
Montgomery
SOURCE: NATIONAL ASSOCIATION OF REALTORS/COMMUNITY IMPACT
SOURCE: NATIONAL ASSOCIATION OF REALTORS/COMMUNITY IMPACT
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CONROE 1304 W Davis (936) 539-8787 NORTH CONROE 18434 Hwy 105 W (936) 582-5410
MONTGOMERY PLAZA 1420 N Loop 336 W (936) 441-7161
WILLIS 9618 FM 1097 (936) 228-0385
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