Recent blog posts

One tactic used by real estate brokers to advertise to consumers is through the use of “Coming Soon” signs, which advertise property that will be coming on the market. In order to appropriately use “Coming Soon” signs, you must have the appropriate authorization, as such signs serve as both notice of sale and an advertisement. Similarly to pocket listings, there are good reasons to use a “Coming Soon” listing: people may need to prepare their homes for sale or are waiting…

A pocket listing refers to any property a real estate broker holds a signed contract with but does not advertise on a multiple listing system (“MLS”). While pocket listings have a somewhat negative reputation, there are many reasons why a broker and seller might prefer this method to the traditional listing: the property might not be ready to show, the seller might be subject to a listing agreement to only show to qualified buyers, or brokers strategically use pocket listings to increase…

Recently, the housing market has seen an increase in business due to low-interest rates and rising prices. With the increase in business comes more juggling of clients and listings. Because real estate brokers have a duty to act in the best interest of their clients, they are held to higher standards than most. To ensure your conduct is viewed as honest and ethical, keep these considerations in mind: Advertising and Social Media Under the NAR Code of Ethics and Standards of Practice, social media…

Due to historically low-interest rates, the housing market has witnessed a boom in business. With this increase in business, it raises possible ethical considerations faced by real estate brokers as they strive to enjoy the strong market. What steps can you take to ensure you remain in good ethical standing? Presentation of Multiple Offers Because of the low interest rates and rising prices, it is not uncommon for multiple offers to be made. In handling such offers, it is important to take certain…

An ever-present war has been raging between Zillow and real estate brokers. Zillow believes it filled a gap where NAR failed to provide valuable services for online consumers. Real estate brokers believe Zillow steals listing information from MLS agreements, repackages the information, and then sells the information back to real estate agents who owned it in the first place. In 2015, upon the merger of Zillow and Trulia into one big company, Zillow Group, the war between brokers and Zillow escalated. And…

On Thursday, November 19, 2020, the Department of Justice (“DOJ”) announced that it planned to file a lawsuit against NAR, along with a proposed settlement that targeted NAR’s rules, policies, and practices, which the DOJ says are anticompetitive. The DOJ’s proposed settlement attempts to bring a level a transparency and competition to the real estate industry. The proposed settlement posed by the DOJ would require NAR to change rules regarding broker commissions and service charges. NAR would have to change rules that…