Don't miss these upcoming events! | |
The Future is Now:
New Developments in MLS Cooperative Compensation
October 20, 2023
9:30-11:00 am via Zoom
With recent compensation developments on the national front, it has never been more important for brokers to promote their value proposition to consumers. How do you promote your value as a cooperating broker to a buyer or tenant? How can listing brokers discuss compensation to cooperating brokers with seller and landlord clients?
Be prepared – learn the latest MLS news and get answers to these questions and more! Note: This webinar will not be recorded.
| |
|
Time is running out to register for the real estate networking event of the season!
The RI Association of REALTORS® and State-Wide MLS invite you to join us for our 75th Annual Installation & Awards Celebration to be held Thursday, October 26th from 5:00-9:00pm at Rhodes on the Pawtuxet in Cranston.
We hope you'll join us for a great evening honoring our volunteer leaders and help celebrate our 2023 RI REALTOR® of the Year!
| |
|
Join Healthy Business Group to learn about new benefits options through RI REALTORS®! Our new partnership enables you to browse comprehensive coverage options online including:
● Affordable Medical Health Coverage
● Low cost Delta Dental insurance starting at $25 a month
● Vision insurance starting at $18 a month
● Easy access to disability insurance
● Easy quoting and shopping for home, auto, rental, and condo insurance
● Ability to speak to a Spanish speaking benefit specialist
It’s easy to shop, just visit RIRealtorsWellness.com. Send any questions to support@hbgnow.com before for the webinar, or schedule a private consultation by contacting HealthEE support.
Register for the webinar to learn more about this exciting new member benefit!
| |
With RentSpree, you can get a completed screening package in a few easy steps. This includes a rental application, credit report, and background check. Results are generated instantly after applicants submit their information, saving you time and resources. Best of all, it's FREE for agents* to use! Click on the image above to register for a zoom webinar to learn more about this RI REALTORS® member benefit! | |
|
Find Information of the new MLS Compensation Policy on RIRealtors.org
As you know, class action lawsuits have been filed against the National Association of REALTORS®, various Multiple Listing Services and REALTOR® associations, and corporate defendants claiming that sellers have been forced to pay too much in real estate commissions because of a lack of transparency in how cooperating brokers are compensated. Several defendants in these lawsuits, including a Multiple Listing Service, have negotiated settlement agreements that will require court approval before they go into effect.
NAR has alerted all Multiple Listing Services that are wholly owned by a REALTOR® association that,“It is consistent with NAR’s mandatory policy if an MLS chooses to allow $0 to be input as an amount of offer of compensation.”
After careful consideration, the State-Wide MLS Board of Directors voted to allow listing brokers to input $0 in the cooperative compensation field effective December 1st of this year. Cooperative Compensation will remain a “mandatory” field in Matrix and if a value greater than 0 is entered, then that offer must be unconditional and paid to the cooperating broker who is the procuring cause, as required by long-standing MLS rules and policies.
Learn more about this new policy and how it affects you and your clients on rirealtors.org/mls/compensation-policy-change and be sure to register for the REAL Talk webinar mentioned above.
| |
|
Vacation Rentals and New Lead Laws
New lead laws have gone into effect with more to come in 2024. How do the new lead laws apply to short-term rentals?
Neither the lead hazard mitigation laws nor disclosure requirements apply to temporary housing. Temporary housing, which includes short-term rentals of 100 days or less with no renewal or extension to the same tenant, is exempt from lead disclosure laws. These seasonal rentals are also exempt from lead mitigation laws. However, if a pre-1978 property is rented as a short-term rental in the summer but rented to students or other tenants for eight or nine months during the rest of the year, the owner will be required to provide a Lessor’s Lead Disclosure to the longer-term tenants and must obtain a lead certificate. More...
| |
Inventory Sees Slight Gains in R.I.'s Housing Market
While the supply of single-family homes on the market remains far below the five- to six-month inventory that typically indicates a balanced market – the past few months have shown slight improvement. Inventory rose to a two-month supply in September, a change for the better from earlier in the year when it had fallen to 1.2 months.
While sales activity has slowly improved, home affordability has not. Rhode Island’s housing market continued to break records at the end of the third quarter, with the median price of single-family homes rising 9.4%, hitting $455,000 in September.
Read the full article.
| |
|
|
Members Wanted to Help Shape RI REALTORS® Coursework
The RI REALTORS® Professional Development Center understands the importance of continuous learning in the real estate industry. To gain valuable insights into Rhode Island REALTORS® educational experiences and preferences, we are conducting a brief, confidential survey in cooperation with Roger Williams University, Providence Campus. By sharing your experiences, your input will enable us to tailor educational programs that meet your needs and aspirations as a REALTOR®. Thank you for taking the time to help shape the future of real estate education.
| |
|
MLS Adopts Listing Data Checker
MLS has adopted a new CoreLogic data compliance program – Listing Data Checker - to assist with finding missing information and violations. If you receive a Compliance Notice, please read the description and directions for data correction, missing listing information, or documentation request, and be sure to comply by the grace date noted.
| |
Give Buyers Accurate Payment and Special Finance Options.
Understanding affordability and finance options is crucial during this affordability crisis.
Rising interest rates and low home inventory have pushed buyers out of the market because they are unsure if they can afford the housing payment. Only 1 in 5 buyers think timing is good to buy. RatePlug, a tool built directly into the MLS system, lets you share accurate monthly home payment estimates for multiple mortgage products from your trusted lenders directly within the property reports you send your buyers.
No additional cost for RI Realtors members* | Displays ONLY your trusted lending sources | Interactive, real-time mortgage information | Notifies you of special financing options - FHA, VA, USDA, etc. | Includes Digital and Printable Property Flyer Program
Help your buyers turn “can I afford that?” into “I CAN AFFORD THAT!” Activate your FREE RatePlug Account Today!
*lenders pay a license fee to be displayed on listings and flyers.
|
|
In need of real estate services? | |
|
Be sure to check out the list of RI REALTORS® affiliate members on RIRealtors.org. From lending to moving and everything in between, you’re sure to find a service that you or your clients may be looking for. You can never have enough people in your network! Please welcome our newest member:
Lorna Orabona | Washington Trust
Search our Affiliate Member Directory today!
If you know someone who is looking to reach Rhode Island’s real estate community and/or current and prospective homeowners and renters, please have them contact Lynda Sprague, Affiliate Member Liaison, at 401-432-6942.
| | | | |
