Debra Johnston

What is NAR'S Clear Cooperation Policy? Please click the link below, Robert Reffkin explains why this is NOT in the Seller and Buyers best interest. Robert is a huge advocate for all of us, including YOU! https://lnkd.in/gE46DV7B This sums it up, take a listen. Conflict "The Clear Cooperation Policy forces Realtors to comply with MLS-mandated rules even when they conflict with the first sentence of the first article in the Code of Ethics. Clear Cooperation can require Realtors to act against their clients’ best interests when clients want to market their homes publicly for more than one day without placing them on the MLS. The assumption that every client desires maximum exposure for their listing is mistaken: Many clients don’t believe that more exposure equals a higher price. If more exposure equals a higher price, why do home builders sell hundreds of thousands of homes off-MLS each year? If more exposure equals a higher price, why do hundreds of thousands of companies not sell their products on Amazon, where there is the most exposure? Some clients care more about privacy than price. They shouldn’t be forced to surrender their privacy to sell their home. Examples where the client may not want to market on the MLS A family member is seriously ill, and the family wishes to maintain privacy to avoid additional stress. A couple going through a divorce prefers to avoid public attention until their affairs are settled. An individual is moving for a confidential job opportunity. The property is undergoing recommended improvements; the owner wants feedback on how the improvements may impact sales price before showcasing it to potential buyers. Sellers want to test the asking price privately without accumulating unnecessary “days on market.” In these instances, Realtors must question whether complying with the Clear Cooperation Policy is truly in line with their ethical responsibilities. Realtors must balance marketing and cooperation on the MLS with the duty to prioritize their clients’ best interests. When these two priorities conflict, client interests must precede MLS policy. Moreover, state law says, “A seller’s agent has, without limitation, the following fiduciary duties to the seller: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account.” Clear Cooperation is forcing agents to break the law (fiduciary duty) by forcing them to push their clients to list in the MLS, even if their clients believe that marketing outside the MLS will result in a higher price or desired privacy. Furthermore, it damages the relationship between agents and MLSs, fining them up to $5,000 for doing what their clients asked. The Clear Cooperation Policy should be removed so that NAR ethical rules can provide more flexibility to account for a wide variety of clients’ interests when marketing their homes." Please take one second to sign. https://lnkd.in/gNfpzZY4 Inman article

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Lou Brown said it best: "It's about time someone solved the riddle and bridged the gap between agents and investors." Grab The GIA Book and learn how to crush it in any market. https://amzn.to/3SV0khX #RealEstateHustle #InvestorSecrets #WinningInRealEstate #RealEstateBook #RealEstateTips #RealEstateAgent

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More Agents Plan to Switch Brokerages in 2024 Thirty-nine percent of agents plan to switch brokerages in 2024, driven by favorable commission structures and robust lead generation systems, according to Coldwell Banker Real Estate's latest survey. The annual Agent Priorities Report, released back in March, surveyed 1,500 agents and found a 56 percent increase in those planning to switch brokerages compared to 2023, when only 25 percent of agents expressed the same intention. The report highlights a significant shift in the real estate industry, where the appeal of traditional legacy brokerages is waning. Agents are now prioritizing better splits and enhanced benefits that modern brokerages offer. These include advanced technology, comprehensive support systems, and superior lead generation capabilities. Such factors are becoming crucial in an agent's decision to remain with or switch brokerages. Marian McPherson, who covered the report, notes that the evolving expectations of agents signal the end of the dominance of old legacy brokerages. The modern agent demands more from their brokerage, and those that fail to deliver on these new priorities risk losing their talent. As the real estate landscape continues to evolve, brokerages must adapt to the changing needs of agents to remain competitive. The days when legacy brokerages could rely on their established reputations are over; now, the emphasis is on providing tangible benefits and support to attract and retain top talent. Inman subscribers check out the article below. OnAgent | Your partner for disruptive growth in real estate #RealEstate #Brokerage #AgentPriorities #CommissionStructure #LeadGeneration #RealEstateTrends #ModernBrokerages #RealEstateAgents #IndustryShift #RealEstateMarket #AgentSupport #RealEstateTechnology #InmanConnect #ColdwellBanker #RealEstateReport #AgentBenefits

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#Southeast #Florida has always attracted high-end wealthy buyers, but more so since 2019. This unique feature of Southeast Florida's market has made the housing market resilient to rising #mortgage rates. In May 2024, 79% of Miami-Dade's areas (with at least 5 sales) saw a year-over-year increase in the median sales prices, with 33% posting double-digit gains. As the chart below shows, several #million-dollar markets have a #cash sales share of over 50% in May, such as #CoralGables (56%), #MiamiShores (56%), #MiamiBeach (70%), #KeyBiscayne (67%). The lowering of the state #tax on the rental of #commercial real estate from 4.5% to 2.0% starting June 1 and the potential decline in mortgage rates in 2025 are all positive factors for the #economy and the #housing market. Expect prices to continue rising. Check out the latest May Southeast Florida Housing Metrics report with data for #MiamiDade, #Broward, #PalmBeach, #Martin, and #StLucie https://lnkd.in/eB2axygA Miami Association of Realtors BROWARD-MIAMI, a Division of MIAMI REALTORS® JTHS-MIAMI, a Division of MIAMI REALTORS® MIAMI Commercial Young Professionals Network (YPN) Miami #miamiforwardfocus #miamiforwardthinking

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A message to all who are contemplating a career in the real estate industry.... ~ Future trends will depend upon several factors ~ Business practices, mortgage affordability, seller concession trends, condition, location & curb appeal will continue to impact for years to come! Effective August 17, the real estate industry across the United States will change & begin to measure how many sellers opt to withhold both the paying of a buyer agent's compensation & resistance to reduce that amount from their sales price expectations! Though lending practices are beginning to allow consumers to pay that particular cost of the home purchasing experience, more than a 1/3 of the consumer pool is NOT capable of including that additional cost towards their dream of homeownership. Consider the following reality, a seller says no to pay a buyer agent's compensation yet does not reduce their sales price expectations by any reasonable amount and requires the consumer to pay twice for that cost of doing business! Consumers are SAVVY and aware that the cost of buyer agent compensation has been baked into the sales price & appraisal process for decades! Consumers will learn quickly how best to manage unreasonable expectations especially when led by competent professionals. How a seller markets their most valuable asset, through their real estate professional, will accomplish the following; marketing to the broadest consumer pool to realize a highest and best sales price, conducting business in good faith & directly reassuring the consumer they support their need for housing throughout the local marketplace. Good faith & ethical behavior will continue to be tested! https://lnkd.in/gqd9jPs8

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With higher #mortgage rates and sustained price appreciation, #cash buyers have increasingly comprised a higher share of Southeast Florida's home sales. The share of all-cash buyers has increased at both the lower price-point (less than $300,000) and the #million-dollar homes segment. On the one hand, the rising share of all-cash buyers of million-dollar homes is an indicator of the rising and sustained interest of wealthy buyers and the flow of #wealth into Southeast #Florida, either from out-of-state or international buyers. The migration of wealthy buyers creates more economic impact by fueling more second-round spending which affects the #retail #commercial real estate. On the other hand, the rising share of all-cash buyers in the lower-end of the market is another indicator of how the erosion in #affordability has sidelined the typical buyer who needs a mortgage. Falling mortgage rates should improve affordability somewhat. MIAMI forecasts the 30-year rate to fall to 6.6% December 2024 and 5.7% by December 2025 Check out our latest May 2024 #Southeast #Florida #Housing Metrics Report. https://lnkd.in/eB2axygA Miami Association of Realtors BROWARD-MIAMI, a Division of MIAMI REALTORS® JTHS-MIAMI, a Division of MIAMI REALTORS® MIAMI Commercial #miamiforwardthinking #miamiforwardfocus

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