Internal News Service Weekly Report for AEs


Realtor ® The<br />
                                    Weekly Report for Association Executives Internal News Service From the<br />
                                    National Association of<br />
                                    Realtors ®
May 25, 2016   
In This<br />
                                    Issue
    • Existing-Home Sales Rise in April
    • Median REALTOR® Age Declines
    • Volunteering Works Grant Recipients Named
    • FHA Proposes Reverse Mort. Program Rule
    • Report Examines Online Marketplace Lending

    • Strong Demand, Tight Inventory Define Market
    • Report Highlights Key Issues for Real Estate
    • Last Days to Register for Broker Summit
    • Honor Your REALTOR® of the Year
    • Voice for Real Estate: BOD Decisions

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NAR News

Existing-Home Sales Rise in April
Existing-home sales sustained their recent momentum and moved higher for the second consecutive month in April despite inventory shortages and price acceleration, according to NAR. Infographic.

Median REALTOR® Age Declines
The median age and years of experience of REALTORS® is decreasing as younger professionals enter the industry, according to the 2016 NAR Member Profile. The typical member reported a median of 10 years of experience in real estate, down from 12 years in last year's report, while the median REALTOR® age decreased from 57 in 2014 to 53 in 2015. News release. Infographic.

Volunteering Works Grant Recipients Named
REALTOR® Magazine and the Good Neighbor Society have announced that five REALTORS® will each receive a $1,000 grant and a year of mentoring from a Good Neighbor Award recipient through NAR's Volunteering Works program, which recognizes members of the association who spearhead small-scale charitable efforts. Learn more.

Issue<br />
                                Updates

FHA Proposes Reverse Mort. Program Rule
The FHA has proposed a rule that would strengthen the rules governing Home Equity Conversion Mortgages (HECM), also known as reverse mortgages. Among other things, the rule would require counseling before a mortgage contract is signed, cap lifetime interest rate increases on all adjustable rate HECM loans at 5 percent, and reduce the cap on annual interest rate increases on adjustable rate HECMs from 2 percent to 1 percent. More info. For background on reverse mortgages, view a webcast on the topic that NAR hosted in April.

Report Examines Online Marketplace Lending
The Treasury Department has released a report detailing the benefits and risks associated with online marketplace lending, an alternative to traditional lending for small businesses looking to raise capital. Learn more and access report.

New Resources

Strong Demand, Tight Inventory Define Market
Overall housing market activity slightly improved in April compared with March 2015, according to NAR's REALTORS® Confidence Index. Respondents identified tight inventory, steep price increases and lender processing delays as the key issues affecting sales, particularly to first-time homebuyers. Access report.

Report Highlights Key Issues for Real Estate
Learn about trends and issues that are likely to have a significant impact on the real estate industry in the near future in a report from NAR. "Unleashing the Power of Real Estate Data," a report intended to assist association, brokers and other real estate professionals plan for the coming years, is based on structured discussions between the AEC Strategic Issues Work Group and brokers, sales associates, real estate consultants, economists, and technology experts. Access report. Additional resources to help you develop a strategic plan, business plan, or vision for your association are available. For more info, contact Cindy Sampalis, 312-329-8302.

Last Days to Register for Broker Summit
Encourage your members to register for the upcoming REALTOR® Broker Summit, set for June 9-10 in Denver. Participants will hear from peers and top executives at industry-leading companies including BoomTown, Sindeo, SmartZip and realtor.com®.

Honor Your REALTOR® of the Year
State AEs: Submit information on your state's REALTOR® of the Year award recipient so they can be recognized at the 2016 REALTORS® Conference & Expo. Simply complete the online submission form.

Voice for Real Estate: BOD Decisions
In case you missed it: The latest Voice for Real Estate news video looks at changes to core standards, a new policy on student loan debt, and other decisions made by the NAR Board of Directors at its meeting in Washington a week and a half ago. Access and share with your members.

Join REach® Insight Panel
Tell your members they can learn more about the companies selected for the REach® technology accelerator program by NAR and Second Century Ventures and help shape their products by applying to be part of the REach® Insight Panel. Companies in the Reach® Class of 2016 include Flipt, Home Diary by FloorPlanOnline, HomeSelfe by Energy Datametrics, RealScout, Sindeo, Trust Stamp, VA Loan Captain, and Zenergyst.

Commercial Innovation Grant Awarded to Louisiana REALTORS®
Louisiana REALTORS® received an NAR Commercial Innovation Grant to support its first "Commercial Breakout Day." The event will engage 200 commercial practitioners by educating them about the goals of the association and benefits they provide for members. More information about previously funded Commercial Innovation Grants. The next grant cycle opens June 1.

Don’t Settle for a Generic Web Address
Associations like the Central Missouri Association of REALTORS® are using a .REALTOR web address and standing out online with a highly recognized and branded URL. Join them and other state and local associations that achieving success with their .REALTOR address.

Scholarships Available for LANDU Education Week Plus
Scholarships worth $500 are available through the LAND Education Foundation to help pay for courses during the REALTORS® Land Institute’s LANDU Education Week plus, June 5-13 in Little Rock, Ark.

Realtor.com® Videos Enhance Brand Identity
Learn how realtor.com® videos featuring Elizabeth Banks drive brand recognition among consumers to help fuel business for agents.

Learn the Basics of Using Auctions
The REALTORS® Land Institute’s June online Auction Tool course is designed to help brokers and agents close more deals by using real estate auctions as a way to buy or sell properties. Register.

Save the Date: Commercial Leadership Workshop
Recommend that your members plan to attend the Commercial Leadership Workshop in Chicago on Aug. 21. The event will feature updates on NAR commercial initiatives as well as educational sessions and networking activities for association executives, staff, and incoming 2017 leadership of commercial overlay boards and structures. Invitations will be sent by email. More information.

Legal

NAR Pushes Back Against Patent Troll
NAR took a forceful step against patent trolls last week by filing a petition with the U.S. Patent Office challenging the validity of patent claims by a company that’s been threatening infringement lawsuits against real estate companies.

Broker Not Obligated to Disclose Erosion Problem
A federal court in Georgia has ruled in favor of a real estate brokerage that was sued by a buyer who discovered that a waterfront property she purchased with assistance from one of its brokers had erosion problems. The United States District Court for the Southern District of Georgia found that the broker was acting only as a transaction broker and was therefore not obligated to evaluate property's condition. In addition, the court ruled that the buyer did not conduct her own due diligence because she did not order a survey of the property and failed to read the purchase agreement. More.

Report compiled by Sam Silverstein, 202/383-1212. NATIONAL ASSOCIATION OF REALTORS®
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