Kevin Sigstad, the 2023 Region XI RVP, will host the Rocky Mountain Regional Conference April 10-12. The event will take place in Reno and the host venue is the Grand Sierra Resort.
An opening reception will kick off the event at 5 p.m. on April 10. On April 11-12, the region is hosting NAR President Kenny Parcell, plus keynote economist, Elliot Eisenberg, "The Bow Tie Economist". Other guest speakers include tech-minded Nobu Hata, and business coaches Natalie Davis and Julie Youngblood, MLS and Leadership panels, DEI presentations and much more!
On April 12, attendees will celebrate RIDE WITH THE BRAND! To learn more and register for the event, click here. To check out the reservations and the room block, click here.
Judge rules that terms of the earlier settlement are still valid
After nearly two years of uncertainty, the National Association of Realtors (NAR) finally has an answer following the reopened Department of Justice antitrust investigation into the trade group’s practices.
On Wednesday, Judge Timothy J. Kelly of the U.S. District Court for the District of Columbia ruled that the earlier settlement terms are still valid. In 2020, the DOJ’s antitrust division agreed to a settlement after investigating the trade groups listing and agent compensation policies. The settlement proposed at the time included requirements for NAR to boost transparency about broker commissions and to stop misrepresenting that buyer broker services are free. Click here to read the full Real Trends article.
Besides earning significantly more money than the average agent, according to NAR research, CIPS designees have access to additional marketing tools, ongoing training, and a global network of referral-minded REALTORS who are prepared to serve clients from other countries and other cultures. All of this adds up to more business and better business practices.
Markets are local and so are the customs of buying, selling, marketing, negotiating, owning, and conveying real estate. It can be overwhelming and even intimidating to venture outside of the familiar. However, with the world becoming more and more connected, being prepared to serve people from across the globe, is vital whether you have a client looking to invest abroad or someone oversees making an inquiry on one of your local listings. Click here to read more.
ATTOM, a curator real estate data curator recently released its Year-End 2022 U.S. Home Sales Report, which shows that home sellers nationwide realized a profit of $112,000 on the typical sale in 2022, up 21 percent from $92,500 in 2021 and up 78 percent from $63,000 two years ago.
Despite a market slowdown in the second half of last year, profits rose from 2021 to 2022 in 98 percent of housing markets with enough data to analyze. The latest nationwide profit figure, based on median purchase and resale prices, marked the highest level in the United States since at least 2008. The $112,000 profit on median-priced home sales in 2022 represented a 51.4 percent return on investment compared to the original purchase price, up from 44.6 percent last year and from 32.8 percent in 2020. The latest profit margin also represented a high point since at least 2008. Click here to read more of the Attom article.
News about economic tumult may be making you feel jittery about your finances. A “housing recession,” as National Association of REALTORS® Chief Economist Lawrence Yun characterizes the current market slowdown, may be daunting for real estate pros whose commission checks can vary greatly with the ebbs and flows of the real estate cycle.
After all, 37% of agents last November said they were struggling to pay rent for their offices, according to a poll by Alignable, an online network for small business owners. Real estate professionals, along with other American workers, may not be feeling particularly rich: About six in 10 consumers say they are living paycheck to paycheck—about 45% of whom earn more than $100,000 per year—according to a late November poll from PYMNTS and LendingClub. Further, consider that the median gross income of REALTORS® was $54,330 in 2021, and incomes tend to grow with more years of experience, according to NAR data. Click here read the full article.