Monthly Archives: May 2018

An Educated Real Estate Broker Is Best For Consumers

By Rey Post, Associate Broker, Sotheby’s International Realty &

Host of “All Things Real Estate” Radio Show

May 20, 2018

The National Association of Realtors’ (NAR) Code of Ethics and Standards of Practices (“Code”), offers a straightforward message in Article 1 of this document, as it relates to Duties to Clients and Customers:

“When representing a buyer, seller, landlord, tenant, or other client as an  agent, Realtors® pledge themselves to protect and promote the interests of their client. This obligation to the client is primary, but it does not relieve Realtors® of their obligation to treat all parties honestly. When serving a buyer, seller, landlord, tenant or other party in a non-agency capacity, Realtors® remain obligated to treat all parties honestly.”

These obligations by Realtors® to sound business practices, are enhanced via solid education. All licensed real estate professionals are required to obtain comprehensive education before they can lawfully practice in the field of real estate, plus—by law—must fulfill regular continuing education requirements to maintain their licenses. 

Though state laws regarding the licensing of real estate professionals vary throughout the U.S.—and supersede the standards of the Code where applicable—there are important expectations in what the NAR asks of those who are recognized as Realtors®.

In the spirit of the NAR’s Code, “Rey’s Real Estate Recommendation” for this week is for home owners, buyers and sellers to consider reviewing the elements of this NAR document. It can be helpful in measuring your expectations of those who work with you in any real estate transaction.

Here is the entire Code, with the Preamble of the document provided below:

https://www.nar.realtor/sites/default/files/documents/2018-Code-of-Ethics-and-Standards-of-Practice.pdf

Preamble of The Code of Ethics and Standards of Practice

(Effective January 1, 2018)

 

Under all is the land. Upon its wise utilization and widely allocated ownership  depend the survival and growth of free institutions and of our civilization. Realtors should recognize that the interests of the nation and its citizens require the highest and best use of the land and the widest distribution of land ownership. They require the creation of adequate housing, the building of functioning cities, the development of productive industries and farms, and the preservation of a healthful environment.

Such interests impose obligations beyond those of ordinary commerce. They impose grave social responsibility and a patriotic duty to which Realtors® should dedicate themselves, and for which they should be diligent in preparing themselves.

Realtors®, therefore, are zealous to maintain and improve the standards of their calling and share with their fellow Realtors® a common responsibility for its integrity and honor.

In recognition and appreciation of their obligations to clients, customers, the public, and each other, Realtors® continuously strive to become and remain informed on issues affecting real estate and, as knowledgeable professionals, they willingly share the fruit of their experience and study with others. They identify and take steps, through enforcement of this Code of Ethics and by assisting appropriate regulatory bodies, to eliminate practices which may damage the public or which might discredit or bring dishonor to the real estate profession.

Realtors® having direct personal knowledge of conduct that may violate the Code of Ethics involving misappropriation of client or customer funds or property, willful discrimination, or fraud resulting in substantial economic harm, bring such matters to the attention of the appropriate Board or Association of Realtors®.

Realizing that cooperation with other real estate professionals promotes the best interests of those who utilize their services, Realtors® urge exclusive representation of clients; do not attempt to gain any unfair advantage over their competitors; and they refrain from making unsolicited comments about other practitioners. In instances where their opinion is sought, or where Realtors® believe that comment is necessary, their opinion is offered in an objective, professional manner, uninfluenced by any personal motivation or potential advantage or gain.

The term Realtor® has come to connote competency, fairness, and high integrity resulting from adherence to a lofty ideal of moral conduct in business relations. No inducement of profit and no instruction from clients ever can justify departure from this ideal.

In the interpretation of this obligation, Realtors® can take no safer guide than that which has been handed down through the centuries, embodied in the Golden Rule, “Whatsoever ye would that others should do to you, do ye even so to them.”

Accepting this standard as their own, Realtors® pledge to observe its spirit in all their activities whether conducted personally, through associates or others, or via technological means, and to conduct their business in accordance with the tenets set forth below.

So “Rey’s Real Estate Recommendation” for this week, suggests that being a good real estate professional begins with a sound education. Home buyers and sellers deserve the opportunity to work with those who know their trade and can offer useful advice and assistance throughout any transaction.

For more information, please join us for the “All Things Real Estate” radio show, which airs each Sunday 12-2pm (Mountain Time) and can be heard at the “Listen Now” link at ATREradio.com.

Mother’s Day Wisdom

By Rey Post, Associate Broker, Sotheby’s International Realty

Host of “All Things Real Estate” Radio Show

May 13, 2017

It’s Mother’s Day, and the best gift you can give mom is three little words: you were right.

A couple of blog writers—Lisa Kaplan and Christina Hoffman—asked some home experts to share the great advice that their moms gave to them on the theme of “all things home.”  And here is what they offered as counsel for     other moms out there.

1) Mom says: ‘Don’t try to do it all

“My mother was a real perfectionist. She’d know if I walked on the carpet (and shouldn’t have). She gave me a respect for things looking right. But that’s also her worst advice, because no one can do it all well. As Erma Bombeck said, ‘house work, if you do it right, can kill you.’

Focus on key rooms in the home — what my mom did once she started to lighten up. It’s what I call mini-tasking. Pick one project, like straightening up your closet, rather than overloading yourself with a long list. And focus on high-traffic, high-visibility rooms, especially where bacteria, mold, and mildew can grow.

Blend mini-tasks with everyday activities, like when you’re on the phone with mom. Swipe and wipe door handles, the fridge door, the kitchen sink. I keep a box of Clorox wipes handy so I can grab and go. Oh, one more tip to make cleaning, organizing, and other home tasks more doable: enjoy a libation! (of course, not while you’re doing major home improvements.)”


2) Mom says: ‘Wise DIY

“Sometimes doing it yourself isn’t the best option. My mom did a lot of sewing and would decide whether something was worth seven hours of her time vs. buying it outright.

My husband and I paid a plumber $600 to install the plumbing (get the lines in, connect to our waste line) in a half bath. It would have taken us two months and still cost about $400 for tools and materials. I will never regret a penny of that. Instead, we did the DIY stuff we knew we could, like installing the sink and toilet.”


3) Mom says: ‘Keep it natural

“I got many of the recipes for my green-cleaning products from my great-grandmother, who wrote down the things she remembered and treasured in her bible, which was given to me when she died. My laundry soap recipe came from her. 

But a great flip happened between my great-grandmother and my mother, who wouldn’t let us stay in the house when she cleaned because she was using commercial cleaners that were toxic. The generations went from one extreme to the other. My great grandmother was cleaning with things you can eat, and my mother was cleaning with things she knew were too dangerous for me to be around.

I’ve taught my kids to go to the pantry before they go under the sink to find a cleaner; to give the natural things a try and they’ll work better for you in the long run.”

4) Mom says: ‘Prepare

“The best advice I ever got from my mom about the home was simple: do things right the first time. The payoff is in the preparation. She was always a big fan of getting books from the library when she didn’t know how to do something. These days you can just look online, but the idea is the same; learn the right way to do something before you start doing it. And when I’ve been lax in the prep work, the project has always taken longer, resulted in frustration, and cost more money.”

5) Mom says: ‘Use the right tools

“Best advice my mother gave me was to always make the beds, because doing so will make you feel like you’ve accomplished something and will keep you inspired throughout the day to attend to other household duties. The worst advice I ever got was from my grandmother, who said butter in the refrigerator never goes bad.

Good advice I give my daughter and son is to always use the right tool for the job — advice I try to adhere to as I renovate my house.”

6) Mom says: ‘Reuse!

“My mom let me make my own decisions about my room when I was a kid. I’ll let my kids do the same. Having a small budget or no budget is a great way to get creative. When I was a kid, I built a side table out of 2x4s and stuck old pennies to it. I learned to reuse.”  

So “Rey’s Real Estate Recommendation” for this week, is to take some lessons from mom’s wisdom. It can’t hurt you!

For more information, please join us for the “All Things Real Estate” radio show, which airs each Sunday 12-2pm (Mountain Time) and can be heard at the “Listen Now” link at ATREradio

Rey’s Real Estate Recommendation – May 6, 2018

By Rey Post, Associate Broker, Sotheby’s International Realty &
Host of the “All Things Real Estate” Radio Show
May 6, 2018

My real estate recommendation this week, relates to advances that have been made in home remodeling and how they can improve the day-to-day livability of your own residence, as well as enhance its monetary value.

The National Association of RealtorsÒ (NAR) reminds us that May is National Home Remodeling Month, a time of the year when many homeowners may daydream about sprucing up their home to gain equity, resale value or simply find more enjoyment from their property.

According to the NAR, many homeowners find the idea of a remodeling project too overwhelming to take on. In fact, 35 percent of homeowners in the U.S. said they would rather move than remodel their current home.

Yet, after completing a remodeling project, 75 percent of homeowners said they have a greater desire to be in their home; 65 percent say they have increased enjoyment in their home; and 77 percent feel a major sense of accomplishment when thinking of their completed project, according to NAR’s 2017 Remodeling Impact Report

As Realtors we understand how remodeling a home can benefit the homeowner looking to sell, whether by impressing potential future buyers, increasing the number of offers or growing equity in the home. Interior projects, such as kitchen renovations, hardwood floor refinishing and insulation upgrades, often yield the largest financial returns for homeowners.  

As an associate broker of real estate at Sotheby’s International Realty, I have also seen that some homeowners who undertake these projects, get more enjoyment from spending time at home.

Here are just three remodeling projects that scored high in offering the greatest happiness from a completed project: 

1)    Added bathroom: The desire to improve livability, especially as a family grows, often leads to home renovation projects. According to the survey, 6 out of 10 homeowners said they have a greater desire to be home since adding a new bathroom, and nearly 80 percent of owners feel a major sense of accomplishment when they think of their project.

2)    Complete kitchen renovation: One of the most used rooms in the home, consumers oftentimes draw up their plans for renovating their kitchen first. Ninety percent of consumers have a greater desire to be home since renovating their kitchen, and the top reason for the renovation was to upgrade worn-out surfaces, finishes and materials.

3)    Closet renovation: A dream renovation for many consumers, renovating a closet to improve organization and storage was the top reason for 50 percent of homeowners who flipped their closet. Seventy-one percent of homeowners have a greater desire to be home since completing their closet project and 65 percent have an increased sense of enjoyment when they are home.

So, my recommendation this week, is to use the advancements offered via contemporary home remodeling techniques, to not only bring greater value to your residence, but also to enjoy it more as the place you call “home.”

For more information, please tune in to the “All Things Real Estate” radio show, which airs every Sunday (12-2pm Mountain Time). Go to the “Listen Now” link at our website homepage to hear the program: ATREradio.com.