June 2008 Archives

During the 2008 Midyear Meetings of the National Association of REALTORS®, the NAR Board of Directors approved recommendations to the NAR model MLS Rules and Regulations (all types) and to Multiple Listing Policy Statement 7.23, Information Specifying the Compensation on Each Listing Filed with a Multiple Listing Service of an Association of REALTORS®.   NAR also produced a short sale work flow as an educational tool intended to give brokers and sales associates a comprehensive overview of the short sale process (listing, marketing, negotiating and closing properties subject to a potential short sale). To access these key member-only resources, login to the site here (www.realtor.org user name and password required).

The Virginia Association of REALTORS® produced a Short Sales webcast to supplement their May/June issue of Commonwealth focusing on short sales.  The following articles should be required reading for any REALTOR® working in this area of the market:

• The Subprime Meltdown
• Finding the Upside in "Upside Down"
• Making Short into Sweet
   
  

(WASHINGTON) - A survey by the Pew Internet Project has determine that while most home buyers search the Web for their ideal property, they have not stopped looking in newspapers and using other sources to assist their buying decision. According to Pew, about 50 percent of consumers have used the Web to buy or rent a home, but about the same number say they also looked through ads in newspapers and 47 percent said they asked the advice of their real estate agent Pew said the main benefit of shopping online was reduced search costs and getting a better feel for neighborhoods. Of those who used the Internet, 54 percent said they took a video or virtual tour of a house, apartment or neighborhood and 50 percent visited real estate sites. Nearly 30 percent said they believed online information helped them save money on the deal. From the Real Estate Intelligence Report.

During the June 2008 DAAR Lunch and Learn, representatives from the Loudoun County Office of Criminal Investigation offered helpful crime prevention tips when dealing with potential clients, showing homes and conducting open houses. A special update on the recent open house theft investigation in Loudoun County was provided. To view the presentation, click here.