Category Archives: Real Estate News & Resources

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.

REY’S REAL ESTATE RECOMMENDATION – April 1 2018

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

April 1, 2018

In the spirit of the holiday—I am delivering “Rey’s Real Estate Recommendation” like an Easter basket gift, with the intent to make your home buying or selling experience a bit easier.

Today—-in a reoccurring theme for home sellers—here are some thoughts to address the question that we as brokers hear quite often: “Why Isn’t My Home Selling?”

In January, I offered a few points on this question which I have actually presented to my own clients. These included the mistakes of: overvaluing your property when listing it for sale; always being present at showings at your listed home; and, not staging your home, keeping too many personal items in the home when selling, or not decluttering the home to create a more “open” setting for buyers.

Some additional thoughts that come from my own experience, as well as via a useful article in RisMedia’s Housecall blog—include:

 1)   Your listing information is poor. Specifically, it is important for your Realtor to write a description about your home that nicely summarizes all of its positive elements and includes high quality photographs of both the interior and exterior of the property. Buyers may ignore your listing if either of these marketing elements are not offered.

 2)   Seems obvious, but you haven’t had your house professionally cleaned. Simply put: a dirty house will leave a bad impression for buyers, with cleaning your carpets and windows being among the fundamentals to consider doing prior to listing the home for sale.

 3)   Your home is in need of too many repairs. The more repairs that are needed, the less likely a buyer will want your house. Many buyers simply don’t want to deal with the cost, or effort of handling repairs, even for basic things like fixing broken tiles, or tightening up handles, or other minor elements.

These are just a few of the reasons why your home may not be selling. Let us assist you in tackling these and other home selling elements, by joining us each Sunday on the “All Things Real Estate” radio show (12-2pm Mountain Time) on Santa Fe’s KTRC 1260AM and 103.7FM, or via streaming at the “Listen Now” link at ATREradio.com.

“REY’S     REAL   ESTATE   RECOMMENDATION” – March 4, 2018

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

March 4, 2018

As we approach the Santa Fe municipal elections on Tuesday, March 6, “Rey’s Real Estate Recommendation” is quite simple: if you are registered to vote and care about the future of our city, and you own a home, or wish to own a home at some point, then please take the time to vote.

This election creates a new opportunity for the residents of Santa Fe. Not only will you be able to elect brand new members to the city council, but the newly elected mayor will save a completely different management role, becoming the first office-holder in this position who is a full-time chief executive of city government.

The policies that the new mayor and full city council pursue after March 6, can have a significant impact on the state of our local real estate market, so it is in every home owner’s interest to make sure that what you are interested in is mirrored by the positions that candidates running for office in Santa Fe have expressed in the campaign leading up to Tuesday’s election.

So—if you are registered to vote in Santa Fe, please take the time to exercise this precious right that you have as a citizen of the city.

For more on “Rey’s Real Estate Recommendation,” and also to pick up additional real estate news and information, join us each Sunday on the “All Things Real Estate” radio show (12-2pm Mountain Time) on Santa Fe’s 1260 KTRC-AM, or via streaming at the “Listen Now” link at ATREradio.com.

REY’S REAL ESTATE RECOMMENDATION

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

 February 25, 2018

The 2018 PyeongChang Winter Olympic Games in South Korea, gave all of us the chance to be captivated by the incredible skills of the athletes competing. But what’s even more compelling than the fastest bobsled race, highest ski jump, or most elegant figure skating program, is the Olympic spirit that runs through the athletes’ stories.

I recently read an article by Whitney Hopler, Communications Director at George Mason University’s Center for Advanced Well-Being, about the way that Olympians draw their inspiration from a set of core values that prepare them to do their best as they compete, and to respond gracefully to whatever happens as a result of their best efforts.

Hopler offered some advice about how each of us can grow stronger and excel, no matter what type of work we do, by watching and then learning from the Olympic values that athletes bring to every competition. I believe that these five suggestions can be of value to each of us, whether we work in real estate, or any other trade:

  1. Love what you do. Choose work that aligns well with your interests and skills and then simply enjoy it!
  2. Do your best with every opportunity. Pursuing excellence, all Olympians strive to put their best effort into each practice and competition, no matter what type of circumstances they may be facing at the time. Olympians are known for their hard work – practicing their sport over and over again to develop their skills to the highest level possible.
  3. Respect and encourage your teammates. Olympians respect each other’s value as people, and also as team players who make valuable contributions to each other. Olympic athletes gather from around the world to compete, and in the process, they form friendships based on mutual respect. They watch each other work hard, encourage each other, and make sacrifices to support each other.
  4. Approach both success and failure gracefully. Whether they win or lose, Olympians often respond with graceful attitudes that inspire others to consider what matters most: not the results of a single event, but the character of the person competing in it. They relish each big moment rather than allowing the stress of it to overwhelm them.
  5. Keep learning and growing. Olympic athletes are constantly learning from their experiences and growing to become stronger people as a result.

The Olympic Games—Winter or Summer—can be inspirational occasions, full of teachable moments that can help you develop stronger leadership skills. Whether or not you ever win gold medals, you’ll succeed at your work when you learn Olympic values!

For more on “Rey’s Real Estate Recommendation,” and also to pick up additional real estate news and information, join us each Sundayon the “All Things Real Estate” radio show (12-2pm Mountain Time) on Santa Fe’s 1260 KTRC-AM, or via streaming at the “Listen Now” link at ATREradio.com.

REY’S REAL ESTATE RECOMMENDATION

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

February 18, 2018

As we approach President’s Day, “Rey’s Real Estate Recommendation” is to think about how you can bring leadership and inspiration to your own work and personal life.

I recently read that the value of leadership in the practice of real estate is in reality becoming the very best version of one’s self. It is recognizing that—no matter how successful one becomes—becoming an even better leader requires a degree of added studying, reading, learning, asking for support and seeking wisdom at all times.

These principles apply to just about everything in our lives and I am trying to embrace them for use in my own daily experiences. Perhaps they can be valuable to you as well.

In the spirit of President’s Day, perhaps the words of John Quincy Adams—an American diplomat, minister, United States Senator, U.S. Representative and the sixth President of the United States from 1825 to 1829—can bring us some inspiration for the way we lead our own lives:

“If your actions inspire others to dream more, learn more, do more and become more—you are a leader.”

For more on “Rey’s Real Estate Recommendation,” and also to pick up additional real estate news and information, join us each Sundayon the “All Things Real Estate” radio show (12-2pm Mountain Time) on Santa Fe’s 1260 KTRC-AM, or via streaming at the “Listen Now” link at ATREradio.com.

REY’S REAL ESTATE RECOMMENDATION – Feb. 11 2018

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

February 11, 2018

As we approach Valentine’s Day, “Rey’s Real Estate Recommendation” is to think about maybe bringing a bit of added warmth, tenderness and kind-heartedness to the home buying, or selling experience you may be involved in this month.

We all know that purchasing a home is probably the largest expenditure that a consumer will most likely have in their life. With that reality—and with the complications associated with the process—both buyers and sellers can naturally realize some added tension and anticipation as they make their way to the day of closing on the sale.

All the more reason to consider applying some “year-round” Valentine’s Day affection to the role that you play in your own home buying and selling experience. This is also a philosophy that perhaps could be embraced by real estate professionals, all of whom work very hard to bring any home buying/selling transaction to a successful conclusion. It isn’t easy for all parties involved, which means that bringing a bit of extra care and regard to the process can go a long way to calming the situation.

For more on “Rey’s Real Estate Recommendation,” and also to pick up additional real estate news and information, join us each Sunday on the “All Things Real Estate” radio show (12-2pm Mountain Time) on Santa Fe’s 1260 KTRC-AM, or via streaming at the “Listen Now” link at ATREradio.com.

REY’S REAL ESTATE RECOMMENDATION – Jan 28 2018

REY’S     REAL   ESTATE   RECOMMENDATION” 

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

 January 28, 2018

Each week in the New Year, I will offer you a new recommendation that is designed to make your home buying, or selling experience a bit easier.

This coming week, I have some thoughts to share with home sellers that may address a question that many of them encounter after their real estate broker, or agent lists their home for sale on a multiple list system: “Why Your Home Isn’t Selling.”

Now the answer to this question varies from region-to-region in the country—based on, among other things, the circumstances of your local real estate market—but there are usually some standard reasons why you, as a seller, may be experiencing some challenges in finding that perfect buyer who will present you with an offer on your home.

Here are some of the reasons—per a useful article in RisMedia’s Housecall blog—that you may wish to review to see if they apply to your own circumstances:

1)   You overvalued your property. Put simply, if your house is overpriced—based on other sales in your immediate neighborhood—it is not going to sell. Your real estate broker, or agent should be helpful in guiding you in a price that will attract buyers. Also, don’t add the cost of any renovations you may have made to the house…these costs don’t automatically translate to added value.

2)   You’re always present at showings. Let your broker, or agent handle showings. Buyers don’t want an owner lurking over their shoulder during showings—or even open houses—since it puts unwanted pressure on them and could make them so uncomfortable, they will be chased away from considering the attributes of the property.

3)   You haven’t either staged your home, and/or you have kept too much of your personal décor, or the home is way too cluttered. Don’t leave a house you wish to sale totally empty, since it makes it hard for buyers to imagine living there. Hire a professional stagger to outfit at least the main rooms in the home with furniture to give buyers a sense of what living there would feel like. At the same time, buyers can quickly get uncomfortable when touring a home and see all of your family pictures—that too makes it hard for them to see how they can live in the house. Lastly, if you have too much of your own furniture and personal items in the house, it will make it seem smaller and also will not help buyers move easily around the home during tours.

These are just some of the reasons why your home may not be selling. I will offer you additional feedback on this topic in upcoming “Rey’s Real Estate Recommendations.”

Also, learn more about this topic and also pick up additional news by joining us each Sunday on the “All Things Real Estate” radio show (12-2pm Mountain Time) on Santa Fe’s 1260 KTRC-AM, or via streaming at the “Listen Now” link at ATREradio.com.

REY’S REAL ESTATE RECOMMENDATION 12-22-2017

REY’S     REAL   ESTATE   RECOMMENDATION

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

December 22, 2017

Tax reform legislation passed by the U.S. House and Senate has been signed into law by President Trump.

As I have written before, there are many elements of this new law that impact current and future homeowners. All individual provisions of the measure are generally effective after December 31, 2017 for the 2018 tax filing year and expire on December 31, 2025 unless otherwise noted. The provisions do not affect tax filings for 2017 unless noted.

To read an analysis by the National Association of Realtors (NAR)—and how the legislation impacts individual homeowners—please go to https://www.nar.realtor/taxes/tax-reform/the-tax-cuts-and-jobs-act-what-it-means-for-homeowners-and-real-estate-professionals

NAR advises that the organization will be providing ongoing updates and guidance to its Realtor members in the coming weeks, as well as working with Congress and the White House to address additional concerns through future legislation and rulemaking. Congressional lawmakers have already signaled a desire to fine tune elements of the “Tax Cuts and Jobs Act” as well as address additional tax provisions not included in this legislation in 2018, and REALTORS® will need to continue to be engaged in the process.

I will continue to update you on these future actions and to learn more about this topic and also pick up additional news, join us each Sunday on the “All Things Real Estate” radio show (12-2pm Mountain Time) on Santa Fe’s 1260 KTRC-AM, or via streaming at the “Listen Now” link at ATREradio.com.