Tag Archives: REALTORS

RELATIONSHIPS AND REAL ESTATE

A REALTOR’s® Relationships with Colleagues, Partners and Vendors Can Save a Transaction.

A REALTOR’s® job (in a nutshell) is to procure the sale of real estate between a willing buyer and seller.

We have all been part of, or witnessed, a transaction that does not go well.  Whether it is buying/leasing a car, or retaining the services of a contractor, unless the parties are successful in communicating extremely clearly, there is always a possibility for a “miscommunication”.  This can lead to wounded egos, unhappy parties, or an issue to be resolved by litigation.  Can a Relationship save a transaction?

My relationship with my network is essential to client-satisfaction.  Whether referring a client to another REALTOR® a thousand miles away, or a local lender, I have extreme confidence in my referral partners.  When you are looking for a REALTOR® to partner with, it is essential that he/she have strong relationships with their referral network.

As a Full-Time REALTOR® for over a decade, I am fortunate that I have not had anything worse than the “wounded ego” (mine) experience in my business.  Live-and-
Learn.  One of the ways I have virtually eliminated the chance of these types of “miscommunications” is by putting all important communications in writing.  Additionally, I am very selective when choosing business partners and vendors to whom I refer business.  My partners and vendors are full-time (so they aren’t distracted by another job,) professional (they conduct themselves and behave appropriately,) ethical (they don’t put anything in front of the client’s best interests,) and licensed, and insured.  Having established relationships with people of this caliber, reduces the chance a client will be unhappy with me, because of an experience they had with a referral partner.

My colleagues who are also at the top of their game usually have strong networks of referral partners that they rely on for their clients’ needs. 

There are lots of good REALTORS®, but what sets some apart is the strength of the relationships they have with their referral network.  There have been times when I have to request that a partner, or vendor, to go the “extra (ethical) mile” to help bring a transaction to the Closing Table.  Maybe it is as simple as asking my preferred moving company to squeeze in an extra moving job for a client who scheduled a move with another mover whose truck broke down, or calling North Smithfield Tree Service to remove tree limbs that the Seller couldn’t get removed and it’s the day before Closing. 

The difference between success and failure maybe the extra effort exerted as a result of a relationship between the REALTOR® and a someone in their network.   

That is why Relationships are essential in the business of Real Estate.  YES, a relationship CAN save a transaction.

Joe Luca is a full-time REALTOR® who helps buyers and sellers achieve their real estate goals.

50 Years Of Fair Housing

April 11 marks the 50th anniversary of the signing of the federal Fair Housing Act. Why is the commemoration a top priority for the National Association of REALTORS®?
The right to own property, and to own a home, is the foundation of our business.

NAR has taken an active role in promoting, and educating REALTORS® about, equal housing opportunity for 50 years.


The Fair Housing Act prohibits discrimination based on race, color, national origin, religion, sex, familial status, or disability.
NAR incorporates all of those requirements, as well as equal opportunity on the basis of sexual orientation and gender identity, into our REALTORS® Code of Ethics, because it makes our association, our industry, and our country stronger.

FAIR Housing Commemoration

 

NAR’s commemoration of the Fair Housing Act is vital because it highlights how far we’ve come in promoting equal housing opportunity—both as a society and as an association—and, more importantly, that our work is on-going.
When Title VIII of the Civil Rights Act was passed in 1968, many in organized real estate had a far different view of fair housing. The new era of openness and equality in the sale or rental of housing clashed with hardwired beliefs at that time; and many believed that fair housing law posed a threat to individual property rights.

President Lyndon Johnson, as he signed the Fair Housing Act on April 11, 1968, famously declared that the right to fair housing “is now a part of the American way of life.”
That right also became every REALTOR®’s responsibility. For all the progress made to raise awareness and end discriminatory practices, as specified in the law and the REALTORS® Code of Ethics, the challenges for the industry and society persist. Fifty years later, REALTORS® commitment to upholding the principles of fair housing remains a top priority.

Despite all of the strides that have been made in Fair Housing, we must learn from the past. Housing is not a special interest; it is a human right. NAR and the RI Association of REALTORS® is committed to safeguarding this right.

Our vigilance must continue so that future generations may also enjoy the benefits of Fair Housing.

Some areas of concern include:

1. How to avoid Steering claims in the age of big data;
2. How emotional support animals like therapy dogs are finding their way into fair housing law;
3. Illegal discrimination based on familial status.
While we may not be able to predict the adversity of our society, or the challenges of the market place, in the future, we must always work together as a nation, and as REALTOR® professionals, to protect the right of Fair Housing for ALL who live here in the greatest country on earth.

How To Quickly Increase Housing Inventory

 

Much has been written, spoken, debated, and lamented, about the lack of housing inventory in states from the Northeast, to the Midwest, to the West Coast.  There are myriad reasons and explanations for why, and most of them are probably accurate to some degree.  Many may even help alleviate the pressure on the market to stem the reduction in housing sales.  However, most of these ideas would take time.  While the Free Market is efficient in the long run… it is not necessarily so in the short run. It certainly is not responding quickly to the needs of first time home buyers in the market today.

When I was installed as President of the Rhode Island Association of REALTORS, I called upon my colleagues to Engage, and Inspire others to Engage, in order to remain relevant and productive in our current and ever-changing economy. Now is the time for us to Engage. Politically Engage .  This is also the time we should Inspire others, including consumers, to Engage.  We must inform our legislators and municipal officials that our economy needs to be unbridled by the regulatory restraints that are preventing First Time Home Buyers from participating in the American Dream of Home Ownership.  We have witnessed our national economy quickly rebound, with consecutive fiscal quarters of 3%+ growth, after the federal government eliminated numerous regulations which were restricting economic activity.  Why can that not be done at the state and municipal level so that builders can build houses that lower income families can afford?  Why should “the little guy”, who is too frequently an immigrant, not be able to buy a home because there is nothing available, or nothing is affordable?  This should be not be acceptable in the United States of America.  We must Engage with our legislators and municipal officials, to convince them that it is essential and vital that those at the lower income levels not be precluded from participating in the American Dream of Home Ownership.

As Architects of The American Dream, REALTORS® protect Private Property Rights.  The National Association of REALTORS® is against any obstacles to home ownership:

  • Unnecessary fees to buy a home,
  • Restrictive regulations/policies that infringe on the home-buying process,
  • Restrictive underwriting policies that may “freeze out” some from buying a home,
  • Increasing regulations and fees for consumers to retain ownership,
  • Anything else that may infringe or impede on the home sale process.

REALTORS® need to Engage, and lead the way for consumers to Engage, with the political process. Why shouldn’t everyone that qualifies for a mortgage be able to buy a home?  Why shouldn’t they participate in the American Dream of Home Ownership?  REALTORS® can make it happen so we should make it a reality.  If you want to Engage but don’t know how, email me at JosephLuca@remax.net.