Brokers
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New Top-Level Domain for REALTORS®
NAR recently announced that registration for the .realestate top-level domain, which NAR controls, would begin in 2018. Unlike NAR’s .REALTOR® domain, which is available only to NAR members, there will be no restrictions on who may use .realestate domain names. Individuals or businesses that have signed up for a .REALTOR® top-level domain will be able to begin applying for .realestate addresses 60 days before the general public. More information about the registration process will be made available soon!
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Study: Your Listing’s Words Carry Weight
A new study finds that properties that contain certain words in their listing comments tend to sell for higher prices. CoreLogic researchers analyzed more than 1 million single-family transactions that closed in the first half of 2017. Every property analyzed had public remarks and comments from which researchers extracted word pairs. Prices can vary geographically on how much weight certain words may have. But one house feature that stood out was “pane windows,” which could represent dual-pane windows or energy-efficient windows, CoreLogic researchers found. The use of “pane windows” in listing comments tended to equate to higher home prices, researchers found. Other words that tended to carry the most weight are “new construction,” “remodeled kitchen,” and several paint references, whether for the interior or exterior. The following words were found…
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October 2017 Real Trends
The October issue of Real Trends is available as a no-cost member benefit to Idaho REALTOR® members. October 2017 In This Issue FIRST PERSON How Driverless Cars and Other Tech Changes May Impact Housing Where is the MLS Going? CoStar Becoming Major Player in Housing BROKERAGE Sponsored Post: Commission Inc. MARKET 5 Things to Know About the Next Generation of Homebuyers August National Showing Index VALUATIONS Adjusted EBITDA…Confused Yet? REGULATORY Flood Insurance Reform GLOBAL European Real Estate Bene ts from Globalization TECHNOLOGY It’s Time to Join the AI Revolution PUBLISHER’S NOTE
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Could Alexa Be Your Client’s Agent?
Smart speakers might be the latest touch point connecting consumers with real estate data. Users of Amazon’s Echo can already access mortgage calculators and automated valuation tools. So it makes sense that NAR’s Multiple Listing Issues and Policies Committee would begin to investigate policies to guide the development of these new tools in accordance with the IDX display rules. Real estate pros should lead the way in applying new technology to the industry, said Sam DeBord. Voice-activated technology is becoming increasingly popular, not only for its hands-off ease but also as a way to make more information accessible to those who have disabilities. Although MLS policy doesn’t currently allow audio delivery of IDX property listing information, that could soon change. Miguel Berger, CEO of audio technology company Voiceter Pro, LLC,…
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Cyber and Fidelity Insurance Report for Real Estate Brokers
Real estate transactions are a target for sophisticated fraud scams and when the frauds succeed, often all the service providers are potential litigation targets. The National Association of REALTORS® would like to identify providers that offer insurance for these threats and then compare the insurance offerings. Three different types of insurance coverages may be needed to protect the brokerage from these threats: Errors & Omissions/Miscellaneous Professional Liability Insurance (“E&O” or “MPLI”); Cyber Insurance; and Crime Coverage.
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Succession Planning for Brokerages
Window to the Law: Succession Planning for Brokerages: Transcript: Imagine you have two deals heading towards closing, and another offer pending. Suddenly, your firm’s managing broker becomes incapacitated or dies. Can you close the pending transactions? Will you receive your commissions? In this month’s Window to the Law, we will discuss how a brokerage can create a plan to prevent such a disruption in its business. In addition, we will touch on the best practices for a planned transition by a firm to a new managing broker. Emergency succession plans are something that every firm should adopt to not only avoid disruption of its business but also to protect its assets and clients. If the licensed entity is a corporation, the process for making a transition to a new managing…
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A Menu of Real Estate Retirement Plans
If you become an independent contractor in real estate after a prior career or two, it’s crucial, says Tad Cook at @Financial, to roll over a pre-existing employer-managed 401(k) into a Solo 401(k). “We don’t ever want you to take money out of a retirement account,” he says, meaning before you reach retirement age. “It’s not just the 10 percent penalty, or the tax liability you incur—it’s the loss of the compound interest.” If you take $10,000 out of a retirement fund at age 36, you’ve just lost what would’ve been $73,000 at age 70. You may already know about traditional and Roth IRAs, which are for both employees and the self-employed but which have lower contribution caps. Here are some other plans you may be less familiar with that…
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How to Create Your Office Policy Manual
Take a look at the topics brokerage owners should include and where to start when drafting your brokerage policy manual. All brokers want their real estate companies to run smoothly. That’s why an office manual documenting your policies and procedures is essential. It should be a people-friendly guidebook that can be used to find answers to questions or conflicts that arise at your company. “An office policy manual should define how the organization plans to conduct business. It often outlines steps or principles that the company would use to make decisions or take action,” says Sharlyn Lauby, president of ITM Group Inc., a South Florida–based consulting firm that develops workplace training solutions. Here are topics to think about before delving into writing a policy manual. The differences between an employee…
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