NAR attorneys: Real estate professionals should maintain clear communication with clients about the services they provide and how they get paid. Anaheim, Calif. – The Sitzer/Burnett verdict does not prohibit the practice of making offers of cooperating compensation, NAR attorneys said this week at NAR NXT, The Realtor® Experience. Listing brokers decide how much compensation … Read more
A super-sized team ups the chances that someone can handle any buyer that comes your way, but a niche-focused team can dominate a specific market area. NEW YORK – Real estate teams are flexing their might in today’s market, using economies of scale to gain a competitive edge. As agents consider switching to this model, … Read more
Tracy Kasper calls the ruling “disappointing, (but) just one chapter in a longer legal process.” She answers some key questions, including: How does this affect my business? CHICAGO – National Association of Realtors® (NAR) President Tracy Kasper released a series of Q&As based on questions NAR has been receiving since the verdict in the Burnett … Read more
An apartment complex with Hurricane Ian damage found it didn’t have flood or property insurance because its agent didn’t renew them and pocketed the payments. TAMPA, Fla. – A Florida insurance agent was arrested Monday after a man discovered his property had no coverage after Hurricane Ian, despite paying the premium in full. Naser Al-Sweity, … Read more
15%-20% of Fla. homeowners are dropping their property insurance and “going bare,” compared to the national percentage of 12%. MIAMI – With the price of premiums doubling the past few years, some Florida homeowners are choosing to go without property insurance, figuring that the savings are worth the risk of going bare in a hurricane-prone … Read more
The scams begin with a hunt through public records for vacant land, an absentee owner and no mortgage. Look for red flags, like a refusal to talk in person. CHICAGO – Real estate professionals should watch for these red flags in the course of the transaction. The FBI’s Internet Crime Complaint Center warns that losses … Read more
Albany, N.Y., homes went under contract in 8 days in Sept., followed by Rochester (9) and Grand Rapids, Mich. (9). In 8 Fla. metros, it ranged from 25-58 days. SEATTLE – The U.S. supply-demand balance for real estate has shifted over the past year. In Albany, N.Y., the typical home sold in September went under … Read more
MIAMI – Home prices in Miami-Dade County fell for the third month in a row in September, giving breathing room to aspiring buyers on tight budgets who have waited months on the sidelines. Median sales prices dropped last month to $600,000 for single-family houses and $415,000 for condominiums, from $620,000 and $416,000, respectively, in August, … Read more
A verdict in the Kansas City trial is expected Nov. 10. “NAR fundamentally disagrees with how (they’re) characterizing our rules,” says NAR’s top legal officer. KANSAS CITY, Missouri – The National Association of Realtors® (NAR), along with HomeServices of America and Keller Williams Realty, begin trial Monday in Kansas City, Mo., in the case Burnett … Read more
NEW YORK – Mortgage rates have risen to their highest levels in more than 20 years, making it harder to afford a home. And yet, out of necessity or desire, hundreds of thousands of people buy homes every month. With the 30-year fixed rate topping 7%, NerdWallet asked real estate agents and mortgage loan officers … Read more
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