By Sam DeBord
The National Association of REALTORS® recently voted to approve updates to its operating agreement with realtor.com® and allow more flexibility for the Web site. There has been a wide range of reactions from REALTORS®. This blog is part one of my five-part series in which I will discuss the propriety of the agreement.
Let’s start with some background: NAR does not own the Web site. It merely owns the domain name, realtor.com®, which it has licensed to Move, Inc. to operate. Many discussions center on this issue still today. This agreement started in the mid-90s. Whether or not some members liked it, it is a 20-year old moot issue. NAR only owns about 2.5 percent of Move, Inc. They are merely a marketing partner with whom REALTORS® have regulatory clout because of our ownership of the domain name.
The new agreement between NAR and realtor.com® approves four major changes:
- Display unlisted new homes and new-home communities.
- Display unlisted rentals.
- Obtain listings from entities that are not REALTOR®-owned and controlled, as well as from brokers who are not REALTORS®.
- Identify properties where a notice of default has been recorded, auctions of distressed properties, short sales, foreclosures, and bank-owned properties. (Listing brokers will have the option to opt out by calling the realtor.com® customer care center.)
Individual consumer FSBOs remain precluded from the site, and the changes will be implemented in a way that preserves realtor.com®’s accuracy advantage, according to Move executives.
NAR directors are members—not some faraway body of executives. Continue reading »
By Heather Soldonia
It is rare to see such an example of REALTORS® and home builders working together, but both National Association of REALTORS® (NAR) and the National Association of Home Builders (NAHB) are both rallying for an extension of the first-time home buyers’ tax credit.
Though the tax credit has served to stimulate both the existing home sales market and the new home sales market, one industry is seeing better numbers than the other. In the past five months, new home sales have risen consistently… and most significantly in the West, a 12 percent increase. Existing home sales have shown some revival, but are still down by 12 percent year-over-year.
As REALTORS®, we are able to represent our buyers in the purchase of either a new home or an existing home; however, in general I think we prefer to participate in an existing home transaction.
Having worked for national home builder, Lennar, I am aware of the many differences between the industries and operations, but for buyers the differences are more superficial. For this reason it is helpful to point out to buyers the general pros and cons involved in purchasing an existing home verses a new home: Continue reading »