Navigating the Changes in Real Estate in Rural Oklahoma

May 06, 2024

Rural Oklahoma real estate for sale

Hi my name is Stacey Carnes-Stricker. I moved from Norman Oklahoma to Elk City Oklahoma in May 2007. I had met with
Wayne and Jean Wilson and wow what a blessing that was and still is today. I hung my license with them, they had United Country Wilson Realty at the time. I was very familiar with real estate, on the Property Management side that is.  I worked on that side for 11 years in Oklahoma and Texas.  When I knew I would be making the move to western Oklahoma, Elk City I also knew I needed to make a career change. REALTOR is what I felt was a natural fit for me. Starting out then vs today, wow and I mean wow! Then, in 2007 the real estate bubble had just burst with the mortgage industry.  Life in real estate was hard in a sense with trying to build a business and a down turn in the market, not having roots in the community and technology lacking. When I say technology lacking I mean our MLS was a book we updated once a week with all the new listings. We carried around a 3 ring binder to see what was on the market. No pictures included. I will say descriptions were very important at this time. So this gives you an idea of then. Today 2024 all you can hear about is the lawsuits and how commissions have changed. Seller’s not willing to pay the commission for the Buyer’s REALTOR. How will we all navigate this in small town Elk City, Oklahoma, rural Oklahoma? Myself personally, I have been reading non stop on this subject, watching videos and most recently just completed a two day course through the National Association of REALTORS. The thing is there is a lot of misinformation out there and opinions and not facts. What I do know is that change is coming in how we will do business. Will all the change be bad? I don’t think so. I am good with change and I always have been. I am generally an optimistic person and can see the good in most anything. The big question is will Buyers have to pay commission to the REALTOR? Short answer maybe. I know in our smaller town we are more laid back and easy going. Most of us have not required a Buyers Agreement when working with a Buyer. This is common in larger markets. With the changes we will now be required to do this. What does this mean to a Buyer? It means a Buyer will need to commit to using the REALTOR they sign the agreement with. The Buyers Agreement can vary how they and their REALTOR see fit as how the REALTOR gets paid.  Buyers and REALTORS will need to have a consultation before looking at homes. I will say consultations do take place, it has just looked a little diYerent. REALTORS do bring a lot of value to a Buyer and Seller. That sounds like that can be my next blog. What is our value? J I would love to hear your thoughts and questions in this ever changing topic.