REALTOR® News
Small Business Health Plan Petition Online
AEs: NAR has posted a petition that your members can sign and have sent to the U.S. Senate advocating for passage of small business health plan legislation. The petition urges senators to work with the sponsors of the NAR-backed "Health Insurance Marketplace Modernization and Affordability Act" to get that bill passed. To access the petition, go to: www.naractioncenter.com.
We Need Your Expertise
We would like to add to our web page information for all the communities in our area on what is needed to list and sell property in each area. Example: Lake Forest: EXISTING RESIDENTIAL STRUCTURES AND STREETSCAPES addendum; $4/$1,000 (A rebate of the transfer tax owed in an amount up to $2,000 will be given to Lake Forest residents who move between residences within Lake Forest) paid by Buyer, signs:
Lake Forest 1per site not to exceed 2 sq. ft. in area per side and 4 feet in height to the highest part of the sign or post Open house only may be placed in public right-of-way no more than 2 days/week and for a period not to exceed 6 hours/day. Would you be willing to help? Which community/communities would you be willing to write up for us? Contact Terry!
Why is the DOJ After the REALTORS Association?
At a Congressional hearing one person who wants MLS open says: "We fear that if Congress does not enact a law codifying the Department of Justice recommendations, the Department of Justice will at some point shift its attention elsewhere, and real estate innovators like Redfin will...be in jeopardy of losing access to listings," said Glenn Kelman, president and CEO of Redfin Corp., an Internet-based discount brokerage based in Seattle. Those DOJ recommendations include opening up MLS participation to brokers whose business model is based not on listing and selling real estate but on making money from the display of listings on their Web sites; not allowing brokers to determine whether they want their listings advertised on other brokers' sites; and restricting state minimum service laws, which take aim at brokers that enter listings in the MLS, but leave deal particulars and risk to the selling agent.
Claims Received by NAR’s Endorsed Insurance Carrier
George F. Brown & Sons, NAR’s endorsed provider of Errors & Omissions Insurance, has recently analyzed the account’s claim history since it became NAR’s endorsed carrier in the late 1990s. Below is a summary of the claim data:
Percentage of Claims:
Misrepresentation - 65.9% (includes environmental problems, sex offenders, termites, leaky basement/roofs, etc.)
Contract Disputes - 4.0%
Doc. Errors - 5.0%
Failure to Convey - 1.7%
Miscellaneous - 23.4%
Percentage of Loss Dollars Paid:
Misrepresentation - 72.2%
Contract Disputes - 4.2%
Doc. Errors - 3.8%
Failure to Convey - 2.8%
Miscellaneous - 17.0%
MLSNI Areas
REVISED 5/22/06 SECTION 1. LISTING PROCEDURES: A listing placed into the Service must be displayed in the MLS compilation in the proper property type or class and in the area designated for that location. The property address shall be used to designate the property area. (4-26-06). What ever your post office says is your address is where you list the property for area number. Corporate limits is where the property is located.
Results of Tour/Email Survey
65% of those surveyed said NSBAR should keep the mandated hours for Tuesday and Wednesday Tours however, in the 18-24 age group only 12.5% wanted mandatory times and in the 25-34 49% said yes. Should NSBAR give member email addresses to other members 61.4% of the surveyed said yes. Only 25% said yes in the 18-24 age group.
What's Wrong With This Story?
An agent recommended a customer to a builder to build a new home. The builder works with the buyer and together they find a lot to build. The agent, who was missing during the entire time the buyer and builder are looking and found a lot now informs the builder that the agent demands a full buy side commission on the price of the home to build. Wait, this gets even better. The builder and the buyer meet at the lot to sign a contract which they have to do themselves while the agent was committed to a golf outing that she had already paid for and unable to meet at the site, she told the builder the buyer was inquiring whether or not the builder could bring the buyer to a vacant home for rent in the neighborhood since the buyer will be needing interim housing. Well the builder did, and the buyer has now committed to the rental for her that she has not even shown him. This is why we get a bad reputation!
Antitrust Quiz
Take an interactive quiz from REALTOR® Magazine Online to make sure you have a solid understanding of federal rules that govern competition and cooperation in the real estate business. To access, visit realtor.org.
Website Names Top Women Bloggers
(NEW YORK) – The Web site Sellsius, a subscription-based real estate community, has released its Top 10 women broker/agent real estate bogs. Making the Sellsius list were:
o Ardell DellaLoggia, http://www.searchingseattleblog.com/
o Marlow Harris, http://360digest.com/
o Chistine Forgione, http://nyhouses4sale.com/
o Maureen McCabe, http://maureen.realtownblogs.com/
o Bonnie Erickson, http://bonnieerickson.realtownblogs.com/
o Claudia Wicks, http://agentceo.blogspot.com/
o Alma Dizon, http://riverside-real-estate.blogspot.com/
o Joeann Fossland, http://joeann.realtownblogs.com/
o Maggie Knowles, http://sunnyspot.wordpress.com/
o Fran Bailey, http://www.chicagometroarearealestate.com/
