Welcome to Tri-Cities Central, a twice-weekly newsletter highlighting local happenings in Batavia, Geneva, St. Charles and surrounding communities.
Get yours: subscribe here. Refer a friend: share this link.
Want to showcase your business in TCC? Let’s talk.
🏠 Is buying and selling a home about to get more affordable?
Until last week, I didn’t realize that folks in other countries paid significantly less in fees when selling their homes — often 1-2%.
Contrast that with the US, where the standard 6% commission has simply been the cost of doing business for decades.
But it looks like business is changing.
The National Association of Realtors (NAR) has agreed to a landmark $418 million settlement that will eliminate that 6% commission — and potentially reshape the entire real estate market.
The key points:
Current model: Sellers typically pay a 5-6% commission (split between seller's and buyer's agents) on the sale price.
Legal battle: The settlement follows an antitrust lawsuit verdict that will ultimately result in NAR paying $418 million in damages. Other major brokerages have reached separate settlements.
Changing rules: As a result, NAR will drop rules that require home sellers to pay buyer's agent commissions.
Lower costs: With no more guaranteed commissions, real estate agents will likely have to lower fees (experts suggest commissions could drop 30% on average).
Vox, in this helpful explainer article, goes into more detail on the developing situation and illustrates the potential impact for the average homeowner.
The median sale price of homes as of late 2023 was about $417,700 — 6 percent of that amounts to a little over $25,000.
Some analysts say it could be one of the biggest housing market transformations since the New Deal-era reforms of the 1930s.
And breaking up the traditional pricing model could usher in a new wave of competition — paving the way for online real estate platforms and discount brokerages to gain traction in the years ahead.
LOCAL SPONSOR SPOTLIGHT
🔨 Now that’s a nice-looking deck!
Last Monday, our sponsor 212° Construction Group offered a generous deal on new siding. Before that, they pitched a new roof special.
If you were thinking, “That’s great, but I want a new deck!” — well, buckle up. This week’s special offer is 10% off a new deck.
212’s professional team knows what they’re doing when it comes to decks and porches. If you’re considering an outdoor project this year, go with a trustworthy local contractor who’s invested in your community.
Make sure to mention TCC during your consultation. Summer will be here before you know it — don’t wait!
*Qualifications apply. One discount per address.
📰 News to use
The 🔒 icon indicates a potential paywall. The *️⃣ icon indicates that an account/login may be needed.
🔒 Mailer reaction: Some parents of St. Charles students who are joining the Richmond Intermediate School enrollment zone took issue with the school’s use of a pride flag variation as one of its value symbols.
☑️ Crime in Batavia: Late last week, Batavia police reported criminal trespass and burglary of vehicles on several west-side streets as well as an incident of disorderly conduct in an apartment complex on Lorlyn Circle.
☑️ Voter discontent: Tuesday’s election saw a significant jump in nonpartisan ballots cast in Illinois, suggesting potential voter disinterest or a lack of competitive races.
☑️ Mixed results: A new report suggests that Kane County residents are healthier than the average Illinoisan despite a higher rate of obesity and physical inactivity.
🔒 Street reconstruction: Geneva, St. Charles and the State of Illinois will all chip in on a project to widen Kautz Road from Longest Drive to Swenson Avenue (pending City Council approval).
☑️ Cycle of inequality: Thanks to more than two decades of underfunding public universities, college is becoming increasingly unaffordable for Illinois families. A state commission is trying to figure out how to fix this.
🏘️ In the community
📸 Credit: Facebook.com/primrosefarm
☑️ Udderly entertaining: Any animal-loving youngsters in your household? Primrose Farm in St. Charles kicks off a weekly activity schedule this week that includes goat feeding, cow milking and more.
☑️ Trailblazers: The Friends of the Great Western Trail do yeoman’s work in maintaining the 30-mile path, but they can’t do it alone — which is why they’re seeking volunteers for a cleanup day on 4/27.
*️⃣ Solid progress: Work on the Batavia wastewater treatment plant continues on pace and on budget — restoration for impacted streets should be complete by Memorial Day.
☑️ Scholastic strategy: After an extensive process involving several discussions and community input, Geneva School District 304 has released its 2024 Community Engagement Report.
☑️ Mahoney Creek: The city shared an update on the latest efforts to clean up and manage the recent creek foam spill in Batavia.
☑️ More road work: During April and May, Nicor Gas will install a natural gas main in Geneva on Stevens Street from Edison to Illinois Streets. Roads should remain open.
🎸 Live music
Matthew Kopecky plays at The House Pub on Thursday night.
It’ll be a pretty quiet week until Thursday, for which we have five performances listed. The Tip-A-Cop event listed below will also feature live music from Drew Clausen.
🏬 Local biz
☑️ Bar Evolution closing: The owner of the downtown Batavia establishment announced on Friday that financial issues will likely force the business to shut down at the end of March.
☑️ New tool shop: Harbor Freight is opening a new Batavia location on April 6 in the Randall Road strip mall that houses Kohl’s and Hobby Lobby.
☑️ Purple power: Geneva Winery landed on Illinois Foodies’ list of its favorite wineries to visit in the state.
🗓️ Events + things to do
The 🎟️ symbol indicates an admission fee.
📸 Credit: facebook.com/FoxFireGeneva
☑️ Spring Break Art Camps | Mon-Fri, 10AM-2PM | All Things Art Studio, STC | Kids can take advantage of the time off school and craft colorful creations together.
☑️ Tip-A-Cop Event | Tuesday, 5-9PM | FoxFire, Geneva | With officers working as servers, a portion of sales and 100% of donations will benefit Special Olympics Illinois.
☑️ Kane County Community Blood Drive | Wednesday, 4-5:30PM | Geneva Library | Sign up to help the American Red Cross save lives.
🎟️ Fermentation Science | Thursday, 4-6PM | Creek Bend Nature Center, St. Charles | Learn from experts about using fermentation to make stuff like sauerkraut, sourdough, kefir and beer.
🗞️ Un-classifieds
☑️ Local home sales: Residential property sales for the week ending March 16 included five in Batavia and nine each in Geneva and St. Charles — including one on Turnberry Road in St. Charles for $680K.
☑️ Paddlers’ perk: The Friends of the Fox River group is raffling off a high-end canoe as part of its fundraiser to support watershed education experiences.
🌖 Weather snapshot
🌨️ Today: High 54F | Low 49F | Rainy + gusty
🌨️ Tuesday: High 53F | Low 29F | Rain early
☀️ Wednesday: High 45F | Low 26F | Sun but chilly
🌤️ Thursday: High 53F | Low32F | Getting milder
📖 How am I doing?
Not signed up yet? Subscribe here.
I write Tri-Cities Central for YOU. So I’m curious: What are your thoughts on the newsletter? Are there any aspects you’d change — or like to see more or less of?
Please reach out to [email protected] with feedback, questions, tips, suggestions, press releases, event submissions or sponsor/ad inquiries.
I respond to all replies — let’s work together.
If you enjoy Tri-Cities Central, please SPREAD THE WORD and/or leave a review! We grow primarily through word of mouth.
About: You can learn more about TCC here.