Showing Instructions Should Require Buyer Broker Agency Agreement Today
Nosalek v. MLS PIN, Burnett/Sitzer v. National Association of Realtors (NAR), and Moehrl v. NAR are delivering a "rethink" moment for the real estate industry. Our duties as consultants include researching our client's position in the market, meeting with numerous board of directors and other stakeholders, and making suggestions and developing improvement plans. The two customer bodies that we represent are brokers and MLSs. Buyer broker agency agreements exist in every real estate market across America. They are part of the forms packet you get with your MLS or association membership; they are either required or optional. The MLS, association of REALTORS® and state regulators have done their job – implementation is up to the broker. Every broker may require it of their buyer's agents today. I seriously doubt that an agent will leave your brokerage because you require the agreement. The real question revolves around when it's required. Even in states where it is required, common practice is to have the buyer agency agreement signed at closing. Yikes. Brokers, require your agents to have a buyer broker agreement signed the moment that they establish a procuring cause with the client. Showing Effectiveness for Brokers I was recently at a dinner with a number of brokers and top agents during a state REALTOR association meeting. I proclaimed that I would never allow a lockbox, and I would require the listing agent to be present at every showing when they list my house. You would think that I dropped a bomb in the room. I was shocked to learn that my requirement was over the line, and an excessive ask. My retort, "Then don't take the listing." It's called a "showing" for a reason. From my perspective, the buyer's agent knows very little about my house, and the listing agent should be present to field any questions the buyer's agent might have. I have a new demand for my listing agent: Do not show the house to a buyer's agent who does not have a buyer broker agreement with the client. As far as I am concerned, the buyer is unrepresented if they show up without an agreement in place with their agent (I know this is not the way it works, but this is a suggestion for positive change). I am not a big fan of MLSs dropping the requirement to offer compensation to a buyer's agent in the MLS. As a seller, I would have a discussion with my listing agent that the buyer's broker compensation should be offered, but we should have a conversation about the buyer's broker compensation. Is it a percentage? Is it hourly? Is it flat? Is it based on a list-to-sell price ratio? What happens to compensation when the list price is discounted? Is the buyer a cash buyer? What are the contingencies? Today, the MLS already accommodates the request that the buyer's broker have an agency agreement in place before scheduling a showing. Listing agents can require it in the showing instructions. It's simple. Make the offer of compensation a blank optional field in the MLS Real estate is going to change as a result of these cases. If your MLS does not have the "offer of compensation" field as optional, I believe that you need to discuss it at your next MLS board meeting. Quietly Quit Clear Cooperation Policy We believe that these cases make it self-evident that the Clear Cooperation Policy was a mistake. It triggered the litigation. I believe that MLSs have an opportunity to "soft quit" the CCP. Drop it from your rules and don't tell anyone. Even without CCP, there is a participation agreement that already states that all listings must be submitted to the MLS. It is a basis of unilateral cooperation. MLSs are the marketplace for trading real estate. It's a bad decision to withhold a listing from the MLS without some mitigating circumstances. MLSs will win with participants and subscribers by delivering a valuable service, not by overreaching regulatory practices. MLSs need to drop the enforcement agency attitude and adopt a high-touch service attitude. To view the original article, visit the WAV Group blog.

Keller Williams Releases Expanded Edition of 'Your First Home'
Keller Williams announced the release of an expanded second edition of Your First Home: The Proven Path to Homeownership, a book that serves as a consumer guide to the adventure of home buying. "This book is about buying your first home, and I sincerely want to encourage you to make that leap," said Gary Keller, best-selling author and co-founder and executive chairman, KW. "What's great about owning a home is that it can lay a solid foundation for your financial future while also setting the tone for your personal lifestyle." "This book's goal is to be your trusted guide and help you know what to expect," said Keller. Assembled from hundreds of interviews and in-depth research with real estate agents and consumers, Your First Home is an in-depth guide on the complete process of homeownership. The book was expanded to address new trends and tools to help consumers find, finance and buy a home. Your First Home helps readers: Navigate the real estate buying process, from home search to closing day. Secure a real estate agent to advocate for you. Find a lender you can trust. Secure the lowest interest rate and monthly payments. Identify a home that's right for you. Craft a winning offer. Negotiate with sellers. Settle into homeownership with style. "Real estate agents will tell you that helping first-time home buyers is one of the most satisfying aspects of their work," said Keller. "They know that becoming a homeowner is a huge milestone, and they feel honored to be involved." Your First Home is 280 pages and is available at KellerINK.com, Amazon, Barnes and Noble, and other online booksellers. The book also serves as a valuable tool that real estate entrepreneurs can leverage to build their business. A previous edition of Your First Home was published in 2008 and has sold more than 50,000 copies to date. The book was written by Keller and Jay Papasan, vice president of strategic content, KW. Keller and Papasan are the bestselling co-authors of The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results, The Millionaire Real Estate Agent, The Millionaire Real Estate Investor, and SHIFT: How Top Real Estate Agents Tackle Tough Times. "I love what I do and feel honored to be able to help people take ownership of their first home," said Keller. "So, good luck on your journey. I hope it's as smooth and enjoyable as it can be, and that you'll be thrilled when you get there—into your first home." For more information and to purchase Your First Home, visit KellerINK.com. Media interviews with Papasan are available.

Zavvie Adds New Buying Solutions to Expand Its Brokerage Marketplace
zavvie, the nation's first real estate brokerage marketplace that connects broker-agents and sellers to Verified Buyers, announced it is adding new buying solutions to its marketplace that offer more affordability and accessibility options for homebuyers. "Zavvie is giving the modern brokerage an expanded marketplace that will increase options for buyers, while keeping real estate agents at the center of every type of property transaction," said Lane Hornung, zavvie co-founder and CEO. Companies offering buying solutions through the zavvie marketplace include Divvy Homes, Feeasy, Flyhomes for Agents, Halo, Homeward, Knock, Landis, Ribbon and Super. With over 150 leading brokerages participating nationwide, zavvie's expansion of its brokerage marketplace to include buyer solutions adds new paths for more consumers who have been shut out from home buying due to escalating home values, competition from cash buyers, and credit barriers. "New cash offer programs address the biggest challenge for buyers in the marketplace today – winning in a multiple offer situation," explained Hornung. "Cash offers are leveling the playing field." Zavvie research shows that buyers armed with a cash offer are going under contract faster: 1.1 offers made compared to over seven offers needed for traditional financed buyers. Other buyer options being added to the zavvie marketplace include a new way for renters to become owners. Participating firms allow consumers to rent a home they plan to buy while they save for a down payment. There's also a path to homeownership for consumers with credit challenges, providing access to a "dedicated coach" to help them become "mortgage-ready." "Zavvie's expanded marketplace for brokerages is helping turn more people with a desire to own a home into a market-ready buyer," said Mark Johnson, CEO of JPAR - Real Estate, one of the nation's leading real estate brokerages and franchise enterprise with more than 3,500 agents serving 65 markets across 24 states. "These innovative buyer-focused firms teaming with zavvie also are helping to level the playing field for first-time and repeat buyers. With new tools like all-cash offers and buy-before-you-sell solutions, more buyers will compete successfully in the market today," Johnson added. Zavvie created the first iBuyer marketplace to help brokerages keep agents at the center of sales transactions, and less than a year later added modern buy-before-you-sell bridge solutions from leading Power Buyers. zavvie is focused on delivering every buying and selling solution a modern brokerage needs to meet consumer demand. All cash offers to win a home with multiple bids, instant sales from iBuyers, modern bridge programs to help sellers buy their next home before selling their old one, listing concierge services to help prepare and repair a home to maximize a sale without sellers lifting a finger, cash offers that enable buyers to compete better, and home warranty options to help protect the budgets of cash-strapped new homeowners — zavvie offers all these tools for brokerages and is continually expanding its suite of available solutions for buyers and sellers alike. "The modern brokerage is offering today what almost every brokerage will eventually offer in the future," explained zavvie's Hornung. "But housing affordability and accessibility are still untapped territory for many brokerages, which are bypassing an opportunity to keep agents at the center of every transaction."

Realogy Launches TurnKey in Collaboration with Amazon
Realogy Holdings Corp. announced in collaboration with Amazon the launch of TurnKey, a new homebuying program that simplifies the process of finding and settling into a new home. Now available in 15 U.S. cities, TurnKey combines Realogy's real estate expertise across its well-known and trusted brands, including Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, ERA and Sotheby's International Realty, with the ease and convenience of Amazon's Home Services and smart home products.

Update on Rocket Homes: Agent Referral Network Adds Consumer Home Search
Doug Seabolt, CEO of Rocket Homes (formerly In-House Realty), has been a busy guy in 2018. His company acquired ForSaleByOwner.com in the spring, and now In-House Realty has rebranded as 'Rocket Homes' to better connect with sister company Quicken Loans – home of Rocket Mortgage. Both Quicken Loans and Rocket Homes are subsidiaries of the fintech giant Rock Holdings. Rocket Homes operates a nationwide Partner Agent Network, but the company's new home search site is only available in its home state of Michigan today. The company plans to extend its home search site to 10 states by the end of the year.

RPR App Unveils New Buyer Tour Report
RPR's new Buyer Tour Report, found in the RPR app, will make an agent's life a little easier and give buyers a supersized impression of his/her REALTOR'S® skill set. Simple in nature but comprehensive all the same, the new report enables agents to select properties, determine the order with which to tour them, and then to create a colorful, client-friendly report to share with buyers.

[Infographic] 10 Hidden Expenses When Purchasing a Home
Owning a home is the great American dream! When it comes to buying a home, most of your clients naturally begin by combing through thousands of online listings, oohing and aahing as they find homes they. While the process varies from client to client, that first-time home buying feeling only happens once. And when it comes to that group, here are the facts: First-time buyers account for 52 percent of future buying potential Despite being plagued by student loan debt and in a different headspace than previous generations, Millennials are ready to buy with the majority of current first-time home buyers being in this generation Older Millennials (25-34) dominate current home shoppers, making up 33 percent of the market

How to Help Home Buyers Without the Hassle (8/18)
Thursday, August 18, 2016 at 9:00 AM PDT Do you want to stop driving around every weekend showing homes with no offers being made? Want to stop getting frustrated when your customers change their minds and stay on the fence? Would you like to get offers under contract quick and easy so you can collect a commission and move on to the next deal? If you answered yes to any of these questions, you're definitely going to want to learn our fast and efficient method for helping home buyers, all while providing a 5-star experience that will prime the referral pump of new business! Here's just some of what you will learn during Thursday's training: Get all-new templates for phone consultations to qualify leads and learn hidden motivations ... the key to getting buyers to act! Get scripts for moving home buyers along the track of closed transactions Reduce the number of showings and home tours by getting to the right fast and without objection Increase the average sales price of your home buyers to get a "raise" for helping home buyers Simple tech hacks you can use to save HOURS on home tours, and ensure your buyers don't forget what they loved about a home Register now!

Meeting Buyers’ Demands with RPR’s Search Tools (5/17)
Tuesday, May 17, 2016 at 10:00 AM PDT Here's where it all begins: the hunt for knowledge. It's what sets a REALTOR® apart from the unrefined data gathered by consumers via national real estate portals. As an RPR® user with an expert understanding of the local market, you have the power to analyze and manage a platform of unparalleled data to the extent that no other search mechanism offers. In fact, no other real estate data sharing website offers side-by-side, listing vs. public record comparisons like RPR. And it's all at your disposal, as a member benefit. We'll review the array of search options in RPR to help you find just what you and your clients need! This class covers searching for Neighborhoods, Schools, and by recent Market Activity. We'll show you how to use Mapping Tools to hone in on an area and show you how to drill down using RPR's advanced search options. Register now!

Trulia Launches Crime Maps
Very often, agents are asked by potential home buyers about crime statistics in a given neighborhood. As a broker, you need to be able to advise your agents about the best way to respond in this situation. Clearly, it’s not ideal for agents to be responsible for researching and providing this information. Yet, in the past, it was difficult to direct consumers to a resource where they could obtain the information themselves. Trulia has released what they believe is a solution for this difficult issue: Crime Maps. Agents can suggest that consumers use Crime Maps to perform their own research about neighborhood safety. We learned more with this article from Trulia.