There are some interesting issues going on throughout the country with regard to statements in MLS’s. Agents are using statements like “This will not appraise for FHA” or “Waiver of Appraisal required” in order to attract certain types of offers. Two things to be aware of when making these types of statements. You could be considered to be practicing as an Appraiser without a license and could be viewed as violating Fair Housing, by shutting out buyers needing FHA and or VA or ANY loan product.
The best practice is to have these conversations with your broker, who is ultimately the holder of said listing, and make sure they advise you on how to approach these topics with sellers. Sellers often do not comprehend the lending process and may take a comment meant to inform as to the only option or complete fact and give authorizations for what to say without knowing the potential consequences.
Protect yourself from unnecessary violations, reports to the state, and potential litigation by planning beforehand and being prepared.
RPAC – The REALTOR Political Action Committee
Why are REALTORS in politics? What does it really do for me? Why should I become involved? These are the frequently asked questions about the REALTOR Political Action Committee.
For years REALTORS have fought the fight to protect private property rights across the United States. As the foundation of the Nation’s Economy, real estate is political, and that means there will be those fighting for changes at all times, from all sides. Therefore, we are in politics, like it or not. So, we either invest in our business and future or allow others to control our fate.
Some of the issues I feel have made a huge difference in my career, have been:
1. Point of Sale Inspections – imagine cities and counties opting to raise funds by initiating the idea of Point of Sale inspections, wherein the assigned government-paid city or county inspector now must do a thorough evaluation of a home before it transfers. Closings would have been 6 to 9 months. RPAC successfully fought and won in the early turn of the 21st CEntury in various municipalities across the nation. But don’t think for a minute, it won’t pop up again. Easy money for building up a budget depleted by unexpected emergencies. Can anyone say “Covid?”
2. Business License Requirements – Each small city and/or municipality could potentially require a business license for professionals, like REALTORS, if you have a sign up in their jurisdiction. Yikes! Count the cities and counties you do business in. Mayors exchange, and it never fails, someone tries it for a revenue increase project. Who will protect your business for you? RPAC! RPAC has successfully battled these in small towns and large cities for many years.
3. Transportation Impact Fees – One of the favorite ways to control buildings is to design a plan to increase the fees for builders so the permit costs so much, they go elsewhere to build. In one US city, the City Council raised Transportation Impact Fees, which are the fees assessed for improvements to infrastructure surrounding a new build project by 800%. REALTORS fought this with funds from RPAC. NAR assisted with the use of a Statistical Review Corporation to prove the increase was far more than an average for that city.
4. National Flood Insurance – AFter Katrina, the SouthEASt was devastated, and the loss of home structures depleted in an instant. Four of the gulf coast states used RPAC dollars raised to design legislation that is now implemented federally. You may see the reminders annually to notify your legislator to keep the program in place, in the form of a Call to Action from NAR. RPAC Funds save that program regularly as REALTORS continue to fight for the protection of their clients and their own properties.
These are 4 areas that I have seen great work done with RPAC dollars. In addition, candidates, including local REALTORS wanting to run for elected office can apply for funds to help win elections, if they are friendly to issues affecting private property rights and REALTORS.
Can you help protect your own business and properties, by committing to your fair share of $100 annually? To do this easily, go here and commit to a monthly debit of $10 to go toward your individual investment account with RPAC.
Take the pledge and protection, by your conviction!