The following Field Guides have recently been updated in the Library:
Dealing with Stigmatized Properties
Do you dare disclose if there is murder or mayhem at your listing? What if the owner was a controversial person? What are the professional and logistical challenges if there is a well-publicized ghost on your next property? Don’t despair, help is here! This page offers some creative marketing tools and advice for selling properties with an unsavory past.
Low-Income Housing Tax Credits
The Low-Income Housing Tax Credit (LIHTC) program is run by the IRS and allows companies to invest in low-income housing, while receiving 10 years of tax credits. This important program works with state housing finance agencies to administer the program on a state level. Housing credit units are privately owned by developers and are run at a profit. Investigate this complex program by reading the articles below.
You have probably attended many meetings that did not feel like productive uses of your time. Don’t repeat this mistake with your sales meetings. Meetings are a necessary part of business. Find useful tips and links for planning productive sales meetings in a challenging market in this updated field guide. Get money-saving ideas for your business and yourself. We’ve gathered the best tips, websites and eBooks to help you out.
Working with FSBOs
89 percent of sellers sold with the assistance of a real estate agent, up slightly from 88 percent the last three years, and only 8 percent (down from 9 percent) were FSBO sales. The share is the lowest since this data collection started in 1981. Among those who chose the FSBO route, 38 percent knew the buyer who bought their homes and 62 percent did not know the buyer. Where FSBO sellers knew the buyer, the time on market for the home was usually one to less than a week and sellers received 99 percent of the asking price. The median age for FSBO sellers is 56 years. Every home seller must eventually decide whether to hire a REALTOR® or to sell the home on their own. But even after they decide to go solo, FSBOs can still be convinced to use a REALTOR®’s expertise. In this Field Guide you’ll find dozens of articles, books, videos, studies, statistics and Web sites to help you find out who FSBOs are and how to work with them.
TILA-RESPA Integrated Disclosure Rule (TRID)
On November 20, 2013, the U.S. Consumer Financial Protection Bureau (CFPB) issued a final rule to integrate disclosures and regulations required by RESPA and the Truth in Lending Act (TILA). The final rule, called TILA-RESPA Integrated Disclosure (TRID), integrates existing disclosures with new requirements from the Dodd-Frank Act to improve consumer understanding of the mortgage process, aid in comparison shopping, and help to prevent surprises at the closing table. When the rule and changes go into effect, REALTORS® and their clients will encounter new forms and procedures at the closing table. The new TRID forms were to be implemented on August 1, 2015. However, on July 21, 2015, after calls from NAR and other industry groups, CFPB officially announced that the effective date of the implementation of the rule was delayed until October 3, 2015.
This Field Guide features resources to help real estate professionals and consumers understand the upcoming TILA-RESPA changes.
Home Owners Associations (HOAs)
What are home owners associations? Should you hire a manager and what are the governing documents? Learn more about the issues from the following articles, eBooks, and other resources in this field guide.
What remodeling job has the best return on investment? Where should you start when remodeling an older home? New resources are becoming available and even more important during these times. The home remodeling industry has enjoyed even more growth and will reach new heights in the future. You can’t afford to miss this Field Guide if you’re planning a home improvement or restoration project.
Twitter is a way of sending short bits of information to your subscribers. The messages are limited to 140 character at a time, called a “tweet.”
Let your clients know what you are doing for them, post short descriptions of new listings, keep your team on schedule. Learn more from the following articles and resources (And be sure to follow NAR Information Services and NAR’s other Twitter accounts).
Private Property Rights
Americans are passionate about their property rights, and disagreements can pit neighbor against neighbor. The issue of eminent domain can arouse the fury of many citizens, who take seriously the last clause of the Fifth Amendment—nor shall private property be taken for public use, without just compensation. The infamous 2005 Kelo v New London Eminent Domain case (the U.S. Supreme Court ruled in favor of New London) generated anger and discussion on both sides of this debate. These articles and links examine property rights, government regulations, eminent domain and much more.