Takeaways from 2018 Annual NAR Conference & Expo

This past week, our HAAR/NALMLS Leadership Team attended the REALTORS® Conference & Expo in Boston, MA. Over 25,000 REALTORS® and real estate professionals from across the world converged on Boston for a week’s worth of jam packed meetings. For a complete recap from the National Association of REALTORS® visit: https://www.conferencelive.realtor/

Here are some of the notes from our Leadership Team here at HAAR/NALMLS:

  • The New “Commitment to Excellence” program is now live and FREE to all REALTORS® — get started today at C2EX.Realtor — The NATIONAL ASSOCIATION OF REALTORS® proudly introduces Commitment to Excellence (C2EX), a program that empowers REALTORS® to demonstrate their professionalism and commitment to conducting business at the highest standards.
  • Alabama Realtor® Peyton Norville received NAR’s Highest Honor – Distinguished Service Award. Many of you who have served on the State Board know Peyton from his time as Past President and Parliamentarian for AAR. Peyton also serves as Senator Richard Shelby’s Federal Political Coordinator for NAR.
  • Residential Economic Issues & Trends Forum: Housing Affordability in the Residential Real estate Market – Presented by Lawrence Yun
    • Consumer Confidence is still really high
    • Home Prices will continue to grow (good news for homeowners) No danger of a price plunge. All indications are that home prices will continue to rise.
    • 2017 was the best year for home sales in the past 10 years.
    • Interest Rates should not go above 5.5% in 2019
    • Home Prices are driven by Months of Inventory.  We are currently at 4.5 months’ supply. If Inventory exceeds 7 months, home prices will usually begin to drop.
  • “90% of people would use the same Realtor again but only 10% do.”
  • If everyone feels they know you and you are involved with the association you will get a more positive response than a uninvolved agent when asking for feedback, offer consideration, even just a favor – they know you from a committee, from class- so there is a bond and chances are they like you.
  • Be the agent everyone wants to work with. Your clients will benefit.
  • “Don’t wish it was easier, just be better”.  Before you can deliver value, know what your customer values. Show them your value by being prepared before you go on listing appointments, know the market. Listen to your customers and what they want and need.
  • National MLS Policy Change:
    • From the MLS Technology and Emerging Issues Advisory Board
      • Submission of Offers:  Upon the written request of a cooperating broker who submits an offer to the listing broker, the listing broker shall provide a written affirmation to the cooperating broker stating that the offer has been submitted to the seller/landlord, or a written notification that the seller/landlord has waived the obligation to have the offer presented. Failure to provide the requested affirmation is not a “citable offense” under the Citation Policy and Schedule of Fines.
      • This will change the MLS policy Statement 7.73, “Rights of Cooperating Brokers in the Presentation of Offers.
        • The addition will read:
          • Where the cooperating broker is not present during the presentation of the offer, the cooperating broker can request in writing, and the listing broker must provide, written affirmation stating that the offer has been submitted to the seller, or written notification that the seller has waived the obligation to have the offer presented.
          • The addition creates the ability for additional disciplinary action against a listing broker that fails to provide written affirmation that an offer has been presented or that the seller waived the obligation to have offers presented, upon requests of the cooperating broker, the MLS policy committee said in it’s stated rationale for the policy change. The addition also extends the requirement to not just Realtor members of an MLS, but rather to all MLS subscribers.