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1. Tax benefits. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, property taxes, and selected costs incurred in the home buying process. 2. Appreciation. Historically, real estate has had a long-term, stable growth in value. In fact, median single-family existing-home sale prices have increased on average 5.2 percent each year, from 1972 through 2014, according to the National Association of REALTORS ® . The recent housing crisis has caused some to question the long-term value of real estate, but even in the most recent 10 years, values are still up 7.0 percent on a cumulative basis. In addition, the number of U.S. households ...
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Sometimes Your Gut Just Tells You “No” Unique Seller Disclosure Circumstances A host of factors come into play as potential buyers weigh the pros and cons of a property. Maybe they don’t like the carpeting, the paint colors, or the noisy motorcycle across the street. In some rarer cases, a property may have developed a stigma, either real or imagined, that could negatively affect a potential buyer’s final decision. Is the obligation to disclose a psychological stigma bound by law or ethics? What if a stigma is simply not verifiable either by law or scientific fact? Here’s a unique case study involving stigmatized property that will shed light on best practices ...
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Missouri REALTORS ® , I’d like to thank all of you who attended THE SUMMIT this past week, hosted at the beautiful Lake of the Ozarks, Lodge of Four Seasons. It was a tremendous success. To view photos of the event,  check out our Flickr page. In addition, I’d like to invite you to view my most recent video blog which includes a recap of THE SUMMIT and highlights of the upcoming September Business Conference , September 19 -21, 2018 at the Intercontinental Kansas City at the Plaza. With a full schedule of events , it is sure to be a great time! I encourage you to register as soon as possible and I hope to see you in attendance.     Nate K. ...
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Missouri REALTORS ®  are not only real estate professionals – we're so much more. We're active in the community – serving on school boards, in elected positions and volunteering our time to make communities where we work a better place to be. We're educators – serving on panels and facilitating industry discussions. The philanthropic efforts of our members are inspiring and the difference they are making within their communities is significant. Our Member Spotlight series highlights these efforts and introduces some of our wonderful members.  This month, we are shining the Member Spotlight on Forrest Stodghill , a member of Ozark Gateway Association of ...
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Clarity is Key When Dealing with Buyers and Sellers: Managing Dual Agency Situations and Conflicts of Interest Representing both parties in a real estate transaction can be challenging for even the most senior professional. However, it is possible to fulfill your due diligence with some forethought and preparation. Agents need to be aware of possible self-dealing and use/misuse of confidential information in dual agency situations. The agent or broker can be held liable if both parties are not equally informed and the proper disclosures are not made. Here is a real-world case study that demonstrates the complexity of dual agency real estate transactions ...
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With summer comes a hot market and even hotter weather. Temperatures are rising and although you probably want to spend every day at the pool, you are bound to be out on the town, jumping from house to house and interacting with clients. It can be hard to stay cool while working as a REALTOR® (in Missouri, no less!) but we have a few tips and tricks to help you beat the heat. Pack plenty of water . There’s nothing worse than warm water on a hot summer day, so be sure to keep plenty of cold water in your car. Pack a cooler full of ice packs and water bottles in your trunk and enjoy them throughout your busy day of showings. Pack water for your clients ...
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A Picture Can Be Worth a Thousand Words: You Can Never Be Too Clear When Disclosing Known Facts No home is without its peculiarities. Some would call it charm. But others classify these quirks as known issues that may, or may not, need to be disclosed upon sale. It’s not necessary to disclose every little problem, but determining the important issues–both legally and ethically–will go a long way in reducing your risk of a claim. Even if written disclosure is regulated in your state, accompanying images can provide added clarity for all parties involved. Here’s a typical scenario that may have been prevented if the agent was more aware of managing the level ...
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Missouri REALTORS®, The following is a reasonably complete description of actions taken in the most recent, completed session, that have direct impact on the real estate profession. I’ve also included a list of all bills we were following as well, including a much shorter list of bills that contain issues described within this report. As was reported earlier, HB 1796, strictly speaking (Senate Substitute No 2 For House Committee Substitute for House Bill No. 1796), was Truly Agreed and Finally passed on May 18, 2018 - the final day of the session. Much work went into the final vote, but the two most significant factors in our success was our House Sponsor, ...
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Missouri REALTORS ®  are not only real estate professionals – we're so much more. We're active in the community – serving on school boards, in elected positions and volunteering our time to make communities where we work a better place to be. We're educators – serving on panels and facilitating industry discussions. The philanthropic efforts of our members are inspiring and the difference they are making within their communities is significant. Our Member Spotlight series highlights these efforts and introduces some of our wonderful members.  This month, we are shining the Member Spotlight on  Nancy Gratz .  Nancy Gratz, REALTOR ®  with Gratz Real Estate ...
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As the 2018 REALTORS® Legislative Meetings & Trade Expo has come to a close, I am happy to report Missouri REALTOR® leaders had a very successful week in Washington, DC.  The week began with a "Top 25 Broker" fly-in, approved by the Missouri REALTORS® Board of Directors in January. The Top 25 Brokers were selected based on their agent count. In addition to designated briefings, the group enjoyed a White House tour and economic briefing in the Vice President’s office. We will continue our broker outreach at all levels.  Additionally, Missouri had a very high profile at the National Association of REALTORS® this year as Missouri’s very own Elizabeth Mendenhall ...
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Spring is in the air, which means warmer weather and a busy real estate market. It also implies some major cleaning – but this year we challenge you to focus on your marketing material rather than your home. Refreshing your marketing strategy from time to time is important for your business, and it allows you to flex your creativity. Here are a few ideas on how to spring into the season with your best foot forward: 1. Create an infographic. One California agent created an awesome infographic that shared both fun and business related facts about himself. He went to professionals, but you can make your own expertly designed infographic with the marketing ...
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What makes Missouri REALTORS ®  so great are the members that we have. Not only do we care about real estate, but we care about each other as well. We know that by investing in our fellow REALTORS® we are making our community, and the industry as a whole, stronger. That’s why we created  Missouri REALTORS ®  Leadership Academy , a program that trains emerging leaders so they may exert a positive influence on the future of the real estate industry.  Our Leadership Academy Alumni Member Spotlight series highlights the graduates of the program. We want to introduce some of our wonderful REALTOR ®  leaders and showcase how Leadership Academy helped them grow. ...
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HB 1796, First Time Homebuyer Savings Account, was taken up by the Senate at 4:25 PM on May 2, it did not go well. Senator Maria Chappell-Nadal, whose district includes the West Lake Landfill Superfund Site began discussing the need for action on the site and the need to inform potential purchasers of the radioactive contamination at the site.  Sen. Rob Schaff joined in with a list of what he viewed as problems with the bill.  The discussion went on for a while until Sen Caleb Rowden; the Senate handler asked that the bill be placed on the informal calendar.  Bills on the informal calendar may be taken up at a later date when the handler believes that the questions ...
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The Situation A real estate agent agreed to list and sell a residential property. The agent had an interested buyer, and an offer was accepted on the property. Subsequently, a neighbor was denied access to view the property after he said he would pay $85,000 more than the original offer. The seller claimed the agent was negligent in not making the property accessible and demanded the difference in the selling price.  The Problem The agent had never dealt with the seller but was familiar with the buyer. The relationship the agent had with the buyer would later create an issue, because the agent failed to give access to the neighbor and failed ...
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The members of the Senate-Fiscal Oversight committee have unanimously approved HB 1796 (First Time Homebuyers Savings Account)  for further action by the Senate.  Senate rules require any bill with a fiscal note (estimate of the cost of the program) of over $100,000 to be considered not only by the committee that hears it but also by the Fiscal Oversight committee.  HB 1796 had a fiscal note of several million dollars hence the additional hearing.  In preparation, Adam Davis and I met with every member of the committee to attempt to answer any questions, explain the alternate fiscal note that Adam constructed, and ask for their support. Adam carried most of ...
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​ SB 920, limited immunity for real estate licensee when they publish area of a property obtained from a third party and disclose the name of the third party is dead for this year. The bill died on Monday after about 5 hours of debate. Sen. Maria Chappelle Nadal discussed radioactive waste and Sen. Rob Schaff discussed freedom. Sen. Jeanie Riddle did a great job of fending off attacks on the bill but, in the final analysis, it wasn’t about the bill. As for good news, HB 1796, First Time Homebuyers Savings Account Act is 27 down on the House Bills on Third Reading calendar in Senate. There are approximately 20 legislative days remaining in this session.  The ...
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Missouri REALTORS ®  are not only real estate professionals – we're so much more. We're active in the community – serving on school boards, in elected positions and volunteering our time to make communities where we work a better place to be. We're educators – serving on panels and facilitating industry discussions. The philanthropic efforts of our members are inspiring and the difference they are making within their communities is significant. Our Member Spotlight series highlights these efforts and introduces some of our wonderful members.  This month, we are shining the Member Spotlight on Kelly Stackhouse , a member of West Central Association of REALTORS ...
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The Situation A real estate agent listed a home that received its water supply from a well. According to the agent, the seller claimed that the well produced an adequate water supply and had no problems with water quality. The buyer was interested in purchasing the residential property for his family but had concerns about the well. The Problem The seller told the agent that the well produced a sufficient amount of water, but the buyer’s family was much larger than the seller’s. The seller also told the agent that the well's water quality was fine. After taking possession of the property, the buyer quickly discovered the water production ...
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HB 1796, First Time Homebuyers Savings Account is still in committee. Adam and I met with Sen. Ron Richard on Tuesday to see if we could have it reported to the Calendar. Sen. Richard was concerned about the fiscal note, more than two million dollars but was very interested in the alternate note that Adam produced based on data from other states. SB 920, limited immunity for real estate licensees for reporting of the area of the property, has been drafted as a Senate Substitute.  Some minor changes that appear to reduce concerns about the bill. If passed as amended a licensee would not have immunity if they measured the property themselves or if they obtained ...
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Selling a home is challenging, so why would you make it harder by uploading horrible listing photos? Here are the top 10 awful listing photos we found across Missouri so far in 2018! Didn't your mother tell you it was rude to point? Shirts, shoes, and PANTS are required! What a lovely children’s room... It was so nice of this person to clean up before posting the photo online or maybe they are going for an abstract expressionism look!  "Original hard wood floors..." Yeah the floors look nice, but someone needs a pedicure! Unfortunately, this isn't an episode of "Hoarders," it's just a messy teenagers room. I'm sure ...
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