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Avoid Making Guarantees About the Revenue Potential of Properties Many agents are facing low inventory and multiple offers on properties. In such scenarios, it may be tempting to offer certain guarantees about a property to make a sale. It's important to resist this urge. Learn why by reviewing this real-world example.   SITUATION A real estate agent marketed a commercial property that included street-level retail with several residential units on the upper two floors. The owner of the property operated a failing video rental business and was eager to sell the entire building before the mortgage holder undertook foreclosure action. On the other hand, the ...
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The Importance of Seller Disclosures and Reputable Inspector Recommendations When you think of the Seller's Disclosure Statement, you likely think about ensuring your seller clients provide details into any current issues or defects of their property. But your seller's disclosures shouldn't stop there. To avoid liability, it's also important to disclose problems that have previously been fixed. What's more, if you plan to provide inspector recommendations to your buyer or seller clients, it's vital to ensure the inspector is reputable. Failure to do so could lead to a costly claim. Read the following real-world example to see how.   SITUATION A real estate ...
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Missouri REALTORS ® are so much more than just real estate professionals. They dedicate their time to serving on school boards and running for elected positions. They educate, serve on panels, volunteer and facilitate industry discussions. Their philanthropic efforts 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 Debbie Kendrick. Debbie Kendrick, from See Real Estate in Monroe City, Missouri, consistently gives back to her community and to her colleagues. By serving ...
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Last month, Missouri REALTOR ® Michelle Walker posed the following question to the rest of our Association: “As REALTORS ® , we're all community-minded people. We understand the importance of serving in our communities. It's important to give back to our towns and cities, but it can be admittedly difficult to find the time to do so. I'm wondering, what do you do to support your community? How do you find the time? Your experience could inspire others to give back too, so please share!” In true holiday spirit, Missouri REALTORS ® proved that they are dedicated to philanthropic efforts during the holiday season and beyond. Here are some of our ...
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Current Market Trend: Multiple Offers As the real estate market continues to thrive, many buyers find themselves in difficult negotiations, sometimes making offers on several properties in hopes of securing a home. While multiple offers may be effective, some buyers are taking the next step and entering multiple contracts. There is not much established guidance on this new trend of making multiple offers. Read this scenario to prepare for the risks and obligations for both buying and listing agents. SCENARIO A buyer asks their agent to make offers on multiple properties and wins on all bids. The buyer then wants to enter three purchase contracts, each ...
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Missouri REALTORS ® : The 2021 REALTORS ®  Conference & Expo recently concluded and, as always, Missouri REALTORS ®  have a lot to be proud of! With thousands of REALTORS ®  throughout the nation participating in-person and virtually, NAR’s Conference & Expo is the nation’s largest real estate event attended by top real estate professionals. The theme for this year’s event was “Rise & Shine.” Throughout the event, several Missouri REALTORS ® were recognized for their contributions to the real estate industry. Congratulations to the following individuals: Larry Keating | 2021 Distinguished Service Award NAR’s Distinguished Service Award ...
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Thanksgiving is so much more than waking up early for the Macy’s Thanksgiving Day Parade, feasting on delicious food and cheering on our favorite football teams. It’s a day when we gather with family and friends--some that we see everyday and some that we’ve missed profoundly over the last year. It’s an opportunity to reunite and reconnect. We can exchange stories, share laughs and remember our fondest memories together. Emphasis on the word together .  This Thanksgiving feels particularly important, as many of us spent Thanksgiving 2020 isolated from the ones we love due to the uncertainty of the pandemic. Sure, we could gather on Zoom calls and connect ...
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Missouri REALTORS ® are so much more than real estate professionals. They dedicate their time to serving on school boards and running for elected positions. They educate, serve on panels, volunteer, and facilitate industry discussions. Their philanthropic efforts 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 Bryant Boyd. Located in Waynesville, Missouri, Bryant is an agent and chief property manager for Eagle Realty Group & Associates, and a member of the Pulaski ...
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Missouri REALTORS ® , It was great to see so many of you at the hybrid Fall Business Conference in Kansas City, where over 400 members registered to attend both in-person and online! We began the week with the Opening General Session, where Chris Goode, founder of Ruby Jean’s Juicery, spoke on investing not only dollars in disadvantaged communities but positioning those dollars alongside purpose and impact. This session resonated greatly with our members. On Thursday, following Output Group and Committee meetings, we hosted our Emerging Issues Forum. We heard from Bill Dedman, a Pulitzer and Peabody award-winning investigative reporter, as he broke down a ...
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Due Diligence Fees and Agent Disclosure Responsibility The recent increase in demand and prices have caused competing home buyers to resort to drastic measures to give themselves a fighting chance at desirable properties, sometimes forgoing contingencies that protect buyers in standard purchase contracts. One recent trend has buyers offering large nonrefundable due diligence fees, sometimes over six figures. The interplay between the hot market, high due diligence fees, and disclosure requirements has caused a spike of threatened litigation and licensing board complaints. Understanding your disclosure responsibilities as an agent can protect you from heightened ...
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Missouri REALTORS ® are so much more than just real estate professionals. They dedicate their time to serving on school boards and running for elected positions. They educate, serve on panels, volunteer and facilitate industry discussions. Their philanthropic efforts 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 Tonya Murfin. Tonya Murfin, from Southwest Missouri Realty and the Greater Springfield Board of REALTORS ® , is a Springfield, Missouri, REALTOR ® dedicated ...
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Happy (almost) Halloween, Missouri REALTORS ® ! Now that spooky season is officially upon us, we wanted to celebrate accordingly. Missouri has quite the haunted history, so we took inventory of the eeriest, most haunted homes across the state. From Kansas City to St. Louis, here’s what we found. But beware--these stories are not for the faint of heart.  The Lemp Mansion The Lemp Mansion, in St. Louis, Missouri, was named one of the 10 most haunted places in the United States. The mansion was built in the early 1860s and was utilized as both a residence and auxiliary brewery office. Shortly after moving in and renovating the space, the Lemp family experienced ...
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Statewide market statistics for August 2021 are in, and numbers are beginning to trend in a positive direction. “ Realtor.com ® ’s August housing data release reveals the housing market is continuing to normalize as newly listed homes skew smaller and more affordable and sellers are beginning to price more competitively through an increased share in price reductions.” However, it is important to note that on a national level, homes continue to sell more than two weeks faster than the previous year. Here are the numbers behind the August 2021 marketplace in Missouri. Home sales in the state of Missouri increased since last August. Missouri ...
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Protect Your Buyer Client in the Purchase of Unimproved Property Buyers tend to have big dreams for their purchased properties. A fresh coat of paint and an outdoor patio are far different from building a dream home from the ground up or developing a planned community. A buyer’s agent/broker should think twice when learning of their client’s plans for a property. Supposing the seller’s agent will assume all responsibility in a transaction can expose a buyer’s agent/broker to possible liability. In this real-world example, taking the extra step to determine if your buyer’s plans for their property are feasible could help protect you from possible third-party ...
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The National Association of Realtors ® has selected Brent Gieseke, a Realtor ® from Kansas City, Missouri, among 10 finalists for its 2021 Good Neighbor Awards program. This award honors Realtors ® who have made significant, tangible volunteer contributions in their communities to improve the lives of their neighbors in need. Gieseke wears many hats as a volunteer serving the needs of refugee families. Since 2018, he’s helped acquire and renovate homes, called “Blessing Houses,” while teens from refugee families work at his side to learn job and life skills designed to help in their acclimation to life in America. “Despite the many challenges navigating ...
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Labor Day, while a celebration and tribute to working men and women across the country, also marks the end of summer. By the time this holiday rolls around, school supplies are flying off the shelves and pools are closing down for the season. With Labor Day, we slowly transition from hot Missouri lake days to bonfires and apple picking season. With all of the autumn excitement comes a tangible shift in the real estate industry as well. Labor Day and the end of summer typically indicate some major market changes that buyers, sellers and real estate agents alike should pay close attention to. According to Forbes , “While some homeseekers might throw in ...
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Missouri REALTORS ® ,   We are excited to announce 2022 Leadership for Missouri REALTORS ® , including committee leadership and members and output group chairs and vice-chairs. This group is focused on providing essential resources to advance the role of REALTORS ®  in real estate transactions and safeguarding Missouri real property rights. They are committed to ensuring that your Association is the “go-to” source for essential business resources while defending the American Dream of Homeownership. I am so excited to work with these dedicated members to ensure the products and services offered by the Association are relevant and valuable ...
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Missouri REALTORS ® ,     Our 2021 Hybrid Fall Business Conference is set for Tuesday, September 28 through Friday, October 1. With just a few weeks left to register and book a room at the Intercontinental Kansas City at the Plaza, I want to share a couple of conference insider secrets! We have scheduled one of the most exciting line-ups of speakers and special guests, and you won’t want to miss a thing. This year's Hybrid Fall Business Conference will begin Tuesday with Missouri Ag Law and Foreign Ownership of Land. There, you will be introduced to various issues that may arise in different real estate transactions, especially those ...
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Missouri REALTORS ® are so much more than just real estate professionals. They dedicate their time to serving on school boards and running for elected positions. They educate, serve on panels, volunteer and facilitate industry discussions. Their philanthropic efforts 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 Jennifer Dick. Jennifer, from RE/MAX Boone Realty and the Columbia Board of REALTORS ® , is a leader to look out for in this Association and beyond. Her ...
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Statewide market statistics for July of 2021 are in, and there is a notable deviation from the unprecedented numbers of 2021 thus far. For the first time in months, home sales in the state of Missouri decreased from the previous year. This may indicate a return to seasonal norms. Hopefully, after months of decreasing supply and elevated demand, REALTORS ® and buyers alike will feel some relief from the highly competitive marketplace.  Here are the numbers behind the July 2021 marketplace. Home sales in the state of Missouri decreased since last July. Missouri REALTORS ® sold 9,158 residential properties. This was just a 4.7% decrease compared to July ...
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