RE Business News

We Don’t Want to Be Dual Agents

We received this question and thought that the answer might be interesting for all to consider:  “If a buyer client becomes interested in a property listed with my firm, can I change our buyer agency relationship (with their agreement) to facilitation so my office doesn’t have to practice dual agency?” While the current law in

Fair Housing Makes Us Stronger

It’s moving to see how far we’ve come, how far to go….  It was not that long ago that discrimination in housing was common place, and we MUST be vigilant to make sure we protect the rights of home-ownership for ALL. Both federal and state law require the display of a Fair Housing poster in

What is Tax Season Going to Look Like for You?

In case you missed it, NAR did a great video (Facebook live event they taped), that showed how the tax changes will affect Realtors, Brokerages, commercial property investors and homeowners.  You can view the video here.  (47 minutes, fast forward to minute 4)  Learn about the new 20-percent deduction for pass-through entities, how new expensing

Listing Broker Found Liable for Altering Commission

An interesting case decision was just reported on – A listing broker failed to honor the co-broke commission rate identified in the Executive Right to Sale agreement, which ended up netting the listing side more money and a subsequent finding of fraud.  Here is the summary: Texas court rules that listing broker breached his

Twas’ the Night Before Closing…

In honor of the upcoming holiday, we are so happy to share the wonderful poem originally presented by Lynn Arseneau of Signature Associates at our Volunteer Appreciation event…

Twas’ the day before closing
and all through the night
“I sure hope the walk-through
turns out all right”.

I’m a counselor, a teacher,
sometimes I’m a pastor
With TRID in effect, I can’t close any faster.

Made it through the inspection,
I thought I’d go crazy,
4 over-fused circuits
And a window that’s hazy.

The sewer line is bad,
The roof’s got 3 layers of shingles
Santa can’t land on top of it
With his jangles and jingles.

There’s a crack in basement
The furnace is dirty
And the radon results –
Can you believe, it was 30!?

This inspector is good
Explains with much clarity
It’s a Federal Pacific panel
And we have reverse polarity.

You’re going to need gutters
The chimney needs to be pointed
The plumbing pipes seem
To be all disjointed.

Now appliances, they stay every now and again,
But the stove must pass the test.
It must be bolted to the wall,
If, on the open door, a large turkey or child will rest!

Well, out on the lawn there arose such a clatter!
I ran to the window to see what was the matter!
And there outside he had a back hoe and a pump
Digging the septic was a cute plump little chump!

He had a broad face, and his donut, t’was jelly
A coffee with cream and some gloves that were smelly.
Long story short, the septic did fail
Oh gosh, what the heck will this mess entail?

Then, there’s the appraiser
The bank can’t find one here
It’s been over 6 weeks
And he’s from Delaware.

Oh, let us not forget the good ol’ Purchase and Sale
I sent it off for attorney review
He re-wrote it all then returned it to me
WHERE’s the VALIUM?  Give me a few!

On co-broke, on lawyer, inspector and plumber; go banker, appraiser, this deal is a bummer,
On buyer, on seller and all of their parents
My head is all screwed up, I’m so incoherent!
A flood zone, asbestos, lead paint and now farming
The number of things is just so alarming!

AH…but the closing’s tomorrow
I’ve made it though
I’ll finally get thanked
For all I do!

So Santa will be there
At the new house on his sleigh
The kids will leave cocoa and cookies and hay.
I’ll cash my check and I’ll figure my pay,
It’s somewhere around 12 cents a day.

– Lynn Arseneau, Berkshire REALTOR

Importance Difference in the Final Tax Bill

Well, the tax changes are through committee, and although NAR remains concerned about the overall structure of the tax changes, the conference committee has made some changes. NAR gives this summary, first, about Mortgage Interest Deductions: The final version retains mortgage interest deduction up to $750,000 in mortgage debt on new loans after 12/14/17 and
MAR Tech Update

Net Neutrality is Over: What Now?

For years, the National Association of Realtors® (NAR) and a broad coalition of technology and real estate industry partners have urged the FCC to uphold the former rules under which Internet Service Providers (ISPs) operate and can do business. “Net neutrality” is the previous consensus position, meaning that internet service providers can’t speed up, slow

National Flood Insurance for FHA, VA and USDA

We’ve received an interesting call from Platinum Affiliate and Lender with Academy Mortgage Jamie Pollard on a recent rejection of private flood insurance for a property obtaining an FHA loan – demanding only National Flood Insurance Program coverage (NFIP).  When Jamie explained that they have had exceptions in the past allowing for Lloyds of London

Keep Your Finger on the Pulse: Connecticut Concrete Could Affect Massachusetts Homeowners

According to reports issued by the state of Connecticut over the past two years, a company called Becker Quarry in Willington sold pyrrhotite-contaminated stone to the now defunct JJ Mottes concrete company from 1983 until 2017, when they agreed to stop.  Connecticut homeowners have been faced with failing foundations and the costs associated to repair their
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