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  • Montana Real Estate Commissions: What You Can Expect in 2024

    Montana Real Estate Commissions: What You Can Expect in 2024

    Understanding Montana’s real estate commissions is vital if you’re planning to buy or sell a home in the state. Recent updates in 2024 brought nationwide changes designed to provide greater transparency, making it easier for both buyers and sellers to grasp the fees involved. These changes aim to simplify the process and help everyone make more informed decisions about real estate costs.

    Whether you’re stepping into the Montana housing market for the first time or have experience selling property, this guide from Redfin will walk you through the key things to know about commissions in the current market.

    Current state of the Montana housing market

    Before exploring commission specifics, it’s helpful to get a feel for how Montana’s housing market is performing:

    Median Home Sale Price $521,000
    Number of Homes Sold -2.9% YoY
    Number of Homes for Sale +23.3% YoY

    Understanding real estate commissions in Montana

    What are real estate commissions?

    Real estate commissions are fees paid to agents for their role in facilitating a sale or purchase of a property. Usually calculated as a percentage of the final sale price, these fees are paid at closing.

    Who pays the commission?

    Traditionally, sellers paid both their agent’s commission and the buyer’s agent’s fee from the sale proceeds. However, as of August 17, 2024, Montana buyers must sign an agreement that outlines their agent’s fee before beginning home tours. 

    While buyers can still ask sellers to pay their agent’s fee as part of an offer, the amount a seller may contribute can vary, and is entirely negotiable.

    City view. Billings, Montana, USA.

    Average real estate commission rates in Montana

    In Montana, there are no fixed commission rates, as they depend on factors like the property’s location, the market conditions, and the agent’s services. Buyers and sellers are free to negotiate these fees based on their specific needs.

    Below is a look at typical commission rates based on median home prices in some of Montana’s largest cities:

    City Median Home Sale Price 1.5% Real Estate Commission 3% Real Estate Commission 5% Real Estate Commission
    Billings $374,000 $5,610 $11,220 $18,700
    Missoula $575,000 $8,625 $17,250 $28,750
    Great Falls $304,500 $4,568 $9,135 $15,225

    Redfin works to provide sellers with great value, offering listing fees as low as 1%*. For buyers, our rates vary by location, but are designed to be competitive and help you submit a strong offer.

    Can you negotiate real estate commissions in Montana? 

    Yes, commission rates are fully negotiable! Since there are no legal mandates on commission rates, buyers and sellers can work with their agents to find a fee structure that fits their situation. Variables such as the agent’s expertise, property location, and market trends can influence negotiations. Dual agency deals, where the same agent represents both buyer and seller, could also allow for reduced fees since only one agent is involved.

    Tips for a successful negotiation

      • Talk to multiple agents: Get quotes from various agents and compare their services.
      • Performance-based fees: Consider negotiating bonuses for faster sales or higher prices.
      • Leverage your property’s strengths: Homes in desirable areas may give you the upper hand in negotiating lower fees.

    A wooden house

    Montana real estate commission FAQs

    What are the changes to real estate commission? New regulations require buyers to sign off on their agent’s fee before they start touring homes. Additionally, in many markets, the buyer’s agent’s compensation is no longer displayed on MLS listings. Learn more about the real estate commission changes here

    How do the changes impact buyers in Montana? Buyers must agree to their agent’s commission in writing before home tours, though they can still ask sellers to cover the commission as part of an offer.

    How do the changes impact sellers in Montana? Sellers continue to negotiate with their listing agent on what commission, if any, will be offered to the buyer’s agent. The specifics can be adjusted depending on the offer received.

    How do you find a real estate agent in Montana? Redfin’s local agents are here to assist you in your home buying or selling journey. Contact us today to get started.

    How can you avoid fees? Selling your home without an agent through a for-sale-by-owner (FSBO) method can save you money on commissions. However, it requires you to handle everything, from marketing to paperwork and showings.

     

    *Listing fee subject to change, minimums apply. Any buyer’s agent fee the seller chooses to cover not included. Listing fee increased by 1% of sale price if buyer is unrepresented. Sell for a 1% listing fee only if you also buy with Redfin within 365 days of closing on your Redfin listing. We will charge a 1.5% listing fee, then send you a check for the 0.5% difference after you buy your next home with us. Learn more here.

    Ana de Guzman

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  • Wounded Warriors To Get New Mountain Cabins At Veteran Retreat Center

    Wounded Warriors To Get New Mountain Cabins At Veteran Retreat Center

    Former Hells Angel Tim Wayne Medvitz has had some big ideas in the past decade and a half. One is to use his mountaineering skills to take seriously injured military veterans on climbs up the world’s highest peaks. The Heroes Project charity he created after a motorcycle accident shattered his body and life has been doing this since 2009, even summiting Everest.

    One of THP’s principal training grounds, the strikingly beautiful Mt. Baldy in Southern California, inspired the group’s latest effort, creating a veteran retreat center. This complex of cabins and recreational buildings will be built on United States Forest Service property in Icehouse Canyon, two miles from Mt. Baldy Village (and driving distance from Los Angeles).

    Barring any unforeseen crises, the project will break ground in early 2024 and hopefully open in Fall 2025, Medvitz predicted, adding in an email, “It’s been a four year journey just to get the USFS to approve this project.”

    Challenging Site

    The group founder is undaunted by the property’s history of flooding and fire, or the namesake trail’s killer reputation. (The Los Angeles Times described it this way in a February 2, 2023 article: “That familiarity and easy access from a huge urban area have combined to give the mountain one of the worst records for death and injury in the U.S.. Since 2020, there have been more than 100 searches for missing hikers on Mt. Baldy, with six confirmed deaths, according to the San Bernardino County Sheriff’s Department.” British actor Julian Sands lost his life on that trail hiking solo last winter.

    So far, none of those deaths, injuries or search and rescues have been associated with THP’s veteran training or volunteer fundraising events. (I participated* in the latter once in 2014, and found the Devil’s Backbone section of the trail aptly named; the hikespeak blog dubbed it “spine tingling” in an undated post.)

    Medvitz, whose team has had to address dangerous conditions with THP’s climbs – including an avalanche and earthquake en route to a record-setting Everest summit by a Marine amputee – is not intimidated by Baldy’s physical (or development) challenges. He’s just plainly excited about bringing more vets in to enjoy the strikingly beautiful surroundings, each other’s company and new adventures to be planned there.

    “After 10 years and thousands of hours of dreaming, drafting, designing, and negotiating, THP is proud to announce that effective, June 29th, 2023 the United States Forest Service special use permit is officially signed and in our hands!” his website proclaims. “Every detail of the VRC has been designed so that our veterans can disconnect from life’s everyday stresses and reconnect with the soldier/Marine that has been lost.” Given these new accommodations, the site notes, “We are able to offer temporary housing and a taste of the great outdoors, all part of our transformative experience.”

    Resilience

    “The only way to build a facility like this on USFS land would be to have an existing special use permit grandfathered in on the land,” Medvitz explained in his note. “The Old Icehouse resort had exactly that and needed to be brought back to life; we will do that in partnership with the USFS and with a great cause behind it. As far as floods and fire hazards are concerned, well, any mountain retreat will bring everything that mother nature throws at it,” he mused, then added that all of the Forest Service’s requirements for safety will be met. California’s wildfires have become more frequent and intense in recent years, including in Baldy’s home range, so resilience planning is a necessary precaution.

    Wounded Warrior Housing

    Assisting the relentless adventurer in constructing the new retreat center is Scott Youngren, a general contractor for Homes for Our Troops, another nonprofit organization serving combat veterans. Medvitz shared that the builder has created accessible homes for THP alumni as part of his HFOT work, so this new mini mountain compound will be a kind of homecoming for him – and them!

    San Diego area Marine veteran and double amputee Julian Torres summited Mt. Kilimanjaro with the group and received an adaptive home from HFOT. He lives less than two hours from the new retreat.

    The new center will include three cabins, two accommodating four guests and one accommodating two. There will also be tent camping spaces and a welcoming/programming center.

    Building for this population needs to address a range of injuries, both seen and unseen, which Youngren’s experience with HFOT will help inform. These include limb loss, traumatic brain injury and post-traumatic stress. “Mt Baldy and the Baldy community has always delivered on everything needed to pull these vets out of their dark places,” Medvitz noted.

    The mountain setting can be a boon to those suffering from PTS in particular, but potentially a challenge to those with mobility issues. “We will be ADA compliant,” Medvitz commented. TBI is considered a signature issue of the Iraq and Afghanistan War veterans, which have formed the core of his mountain climbers. “We do focus on primarily post 9/11 combat wounded vets, but we will broaden our veteran outreach in other categories once we’re up and running.”

    Author’s Note

    This article is part of a series I dedicate to military-related accommodations every Veteran’s Day and Memorial Day. You can read past stories in my November and May archives going back to 2020.

    I noted* above that I participated in a fundraiser for The Heroes Project, which merits disclosure. I made two donations of $500 apiece, one in 2014 as part of its Climb for Heroes fundraiser and one the next year for a related documentary (as yet unreleased) about the Everest summit. I do not serve (and never have) in any official capacity with the group.

    Jamie Gold, Contributor

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  • Union Throws a Curveball in Battle for U.S. Steel

    Union Throws a Curveball in Battle for U.S. Steel


    • Order Reprints

    • Print Article

    The battle for


    United States Steel


    has already taken a number of unexpected twists and turns. Investors just got another one.

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  • Drones attack Ukrainian capital, Moscow says US behind Kremlin drone

    Drones attack Ukrainian capital, Moscow says US behind Kremlin drone

    • White House, Kyiv deny Russian accusations
    • Zelenskiy visits The Hague, says Putin must face justice
    • Diplomats work on extending Black Sea grains deal

    KYIV, May 4 (Reuters) – Russian drones attacked the Ukrainian capital Kyiv on Thursday evening, the fourth assault in as many days subjecting residents to spasms of gunfire and explosions, and at least one drone was shot down.

    City authorities had declared an alert for Kyiv and the surrounding area. Residents who had gone to air raid shelters said the drones arrived more quickly than usual after the alerts were declared. Reuters witnesses heard gunfire and repeated heavier explosions near the city centre.

    The attacks started just after 8 p.m. (1700 GMT) and lasted around 20 minutes. Ukraine’s air force said in a statement that it had destroyed one of its own drones after the drone lost control over Kyiv region, probably because of a technical failure. It wasn’t clear how many drones in total were destroyed.

    Russia said on Thursday that the United States was behind a purported drone attack on the Kremlin aiming to kill President Vladimir Putin. Washington and Kyiv denied involvement.

    Putin will head a scheduled meeting of Russia’s Security Council on Friday and the Kremlin incident could be on the agenda, TASS news agency reported.

    Ukrainian President Volodymyr Zelenskiy, speaking in The Hague after visiting the International Court of Justice, said Putin must be brought to justice over the war and that Kyiv would work to create a new tribunal for this purpose.

    In other diplomacy, U.S. Ambassador to the United Nations Linda Thomas-Greenfield said on a visit to Brazil that she encouraged the government to include Ukraine in any attempt to negotiate an end to the war. She was referring to President Luiz Inacio Lula da Silva’s comments calling on the West to stop arming Ukraine to allow peace talks to start.

    There are currently no peace talks to end the war, which has devastated Ukrainian towns and cities, killed thousands of people and driven millions from their homes.

    FRONTLINE ACTION

    Nearly 50 Russian attacks were repelled along the main sectors of the front line in eastern and southern Ukraine, the General Staff of the Ukrainian Armed Forces said on Thursday evening. The heaviest fighting is still in Bakhmut and in Maryinka, further south in Donetsk region, it said.

    Russian forces also launched 66 air raids and engaged in 33 shelling episodes on Ukrainian positions and on towns and villages, causing casualties and damaging infrastructure, the report said.

    Smoke rises over the city after remains of a shot down Russian drone landed on buildings, amid Russia’s attack on Ukraine, in Kyiv, Ukraine May 4, 2023. REUTERS/Stringer

    Reuters was not able to verify the battlefield accounts.

    MOSCOW CITES ‘US ORDERS’

    Putin’s spokesman Dmitry Peskov, without providing evidence, said Ukraine had acted on U.S. orders to attack the Kremlin citadel in the early hours of Wednesday.

    White House national security spokesperson John Kirby dismissed Russian “lies” and said there still was no conclusive evidence as to the authenticity of a video showing the drone at the Kremlin.

    “Attempts to disown this (attack on the Kremlin), both in Kyiv and in Washington, are, of course, absolutely ridiculous. We know very well that decisions about such actions, about such terrorist attacks, are made not in Kyiv but in Washington,” Peskov told reporters.

    Peskov said an urgent investigation was under way and that any response would be carefully considered and balanced.

    Russia has increasingly accused the United States of being a direct participant in the war, intent on inflicting a “strategic defeat” on Moscow. Washington denies this, saying it is arming Kyiv to defend itself and retake illegally seized land.

    KYIV, ODESA TARGETED

    Earlier on Thursday, Russia fired two dozen combat drones at Ukraine, hitting Kyiv and also striking a university campus in the Black Sea city of Odesa. There were no reports of casualties. Russia denies targeting civilians in Ukraine.

    Diplomats, meanwhile, are still working to keep a package deal for Ukrainian and Russian agricultural exports alive beyond May 18. Technical personnel from Turkey, Russia, Ukraine, and the United Nations will meet on Friday to discuss the deal, Turkish Defence Minister Hulusi Akar said.

    Russia has a list of demands it wants met for continuation of the Black Sea grains pact, which the U.N. said helps tackle a global food crisis aggravated by Russian forces invading neighbouring Ukraine in February 2022.

    Zelenskiy has vowed to drive all invading Russian forces back to the borders set in 1991 following the collapse of the Soviet Union. He said on Thursday the whole of Ukrainian society was preparing for a counteroffensive, which he said would be successful against what he called a “demotivated” Russia.

    Reporting by Kyiv, Moscow and Amsterdam buros
    Writing by Gareth Jones
    Editing by Nick Macfie

    Our Standards: The Thomson Reuters Trust Principles.

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  • Protests in Malta as parliament debates abortion amendment

    Protests in Malta as parliament debates abortion amendment

    VALLETTA, Dec 4 (Reuters) – A large picture of an unborn baby was placed outside the office of Malta’s prime minister on Sunday as demonstrators called on the government to halt plans to amend the country’s strict anti-abortion laws.

    The protest, the biggest in years, attracted several thousand people including Malta’s top Catholic bishop and the leader of the conservative opposition, but was led by a former centre-left president, Marie Louise Coleiro Preca.

    “We are here to be the voice of the unborn child,” said 19-year-old university student Maria Formosa, one of the speakers at the rally. “Through abortion, life is always lost.”

    Some of those present carried placards reading slogans such as “Keep abortion out of Malta” and “Protect our children”. They also chanted “No to abortion, yes to life”.

    Traditionally Catholic Malta is the only member of the European Union which bans abortion in all circumstances, even when a woman’s life or health is endangered by her pregnancy.

    Last week, Health Minister Chris Fearne presented an amendment in parliament that would make doctors no longer risk up to four years’ imprisonment if their intervention to help women with severe health issues causes the end of a pregnancy.

    To date, no doctor has been prosecuted on such charges.

    The centre-right opposition, the powerful Catholic Church and some NGOs have described the amendment as not needed and as paving the way for a full liberalisation of abortion, a claim rejected by the ruling centre-left Labour party.

    Prime Minister Robert Abela’s government holds a comfortable majority and no dissent has appeared within its ranks, but opinion polls show a big majority against abortion, particularly among older people.

    No one from the government made any comment in response to the protest on Sunday.

    The move to change abortion rules comes after a U.S. tourist, Andrea Prudente, was refused a request in June to terminate a non-viable pregnancy after she began to bleed profusely.

    Her doctors said her life was at risk and she was eventually transferred to Spain where she had an abortion. She later sued the Malta government, calling on the courts to declare that banning abortion in all circumstances breaches human rights.

    The case has not yet come to trial.

    Reporting by Christopher Scicluna; Editing by Alvise Armellini and David Holmes

    Our Standards: The Thomson Reuters Trust Principles.

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