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Category Archives: Broker Buzz with Kerry

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Getting Back to Basics..

Let’s Get Back to Basics.

Are you a GOOD AGENT?

Anyone can find a house especially in this internet age. We must adapt quickly.
We are no longer the gatekeeper of the information.
WE ARE THE COUNSELOR AND THE ADVISER.
Anyone can find a house, but only a GOOD AGENT can actually get you the house. Anyone can list a house but only a GOOD AGENT can get you top dollar and have the transactions go smoothly.
Are you a GOOD AGENT?
We are RE/MAX Elite and we are all GOOD AGENTS, I may even say we are all GREAT AGENTS!

TEAMWORK. 
It’s all about teamwork.

So many agents think they are in competition with the agent on the other side if the transaction but you do your client a disservice by treating the other side as an enemy.
Instead actually work together to come up with plan that will make everyone happy and you will win!

HANDWRITTEN NOTES

Don’t forget to do handwritten thank you notes for the remainder of 2018 and all of 2019.  After all, we don’t get these very often in our mailboax anymore making that note even more special in this digital age!

DEMOGRAPHIC SOCIAL FARMING

15-10-5-2 in Social Media

Spend 15 Minutes Everyday, Comment on 10 People’s Posts, 5 Personal Posts a week, 2 Business Posts a week

Breakdown Friends in different groups

Giveaway 15 Business Cards a week


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Hidden in plain sight: Contract clauses clients may miss

Have you Read the contract entirely and do you understand it? The law treats both parties to the contract as if they have read and understood all terms.
What happens if a buyer isn’t approved during the contingency period and doesn’t cancel?
What Personal Property can a buyer force a seller to leave?
When can a seller deny access to a buyer who wants to conduct inspections?

Here is a great FAR Legal News Article about some important things of note.
https://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=369552

Hidden in plain sight: Contract clauses clients may miss    

By Joel Maxson

Aug. 6, 2018 – When a buyer and seller enter into a contract, the law treats both parties as if they read and understood all terms, even if they just gave the contract a quick skim.

This can be a significant problem if one of the parties fails to notice a provision that impacts that party’s specific transaction until after the contract is executed.

Here are just a few questions we hear on the Legal Hotline that illustrate a few of these blind spots. For this article, we’re looking exclusively at the most popular contract for residential transactions in Florida, the residential contracts prepared by the Florida Realtors and Florida Bar. All sections discussed in this article are the same in the “AS IS” version and the inspection and repair version of the contract.

1.What happens if a buyer isn’t approved for a loan but neglects to cancel by the loan approval deadline?

The main purpose of the financing contingency in section 8 is to allow the buyer to cancel the contract without penalty if the buyer is unsuccessful in getting loan approval by the deadline. The default loan approval deadline is 30 days unless the parties negotiate a different number. But what if the buyer doesn’t have loan approval and misses the deadline to send a written cancellation notice? Section 8(b)(v) provides that if the buyer doesn’t deliver a written message that either terminates the contract or waives the loan approval, then “Loan Approval shall be deemed waived, in which event this Contract will continue as if Loan Approval had been obtained …” This can be a big problem for the buyer if the loan is later denied, since the buyer waived the loan approval by failing to cancel in time.

2.What personal property can a buyer force the seller to leave?

Many sellers get distracted by listing photos or conversations negotiating the contract when thinking about what personal property is included in the purchase. What they should primarily focus on instead is section 1(d) and 1(e) of the contract. Section 1(d) provides a default list of items the buyer is entitled to at closing, such as refrigerators and ovens, provided that those things are “owned by Seller and existing on the Property as of the date of the initial offer.” There is additional space to write in specific other items the buyer and seller want to specifically include or exclude as part of the sale.

3. When can a seller deny access to a buyer who wants to conduct inspections?

Sometimes sellers feel like buyers are overstaying their welcome with inspections and appraisals. So, who controls this issue? The contract has a broad provision that favors buyers. Section 18, standard L provides that “Seller shall, upon reasonable notice, provide utilities service and access to Property for appraisals and inspections, including a walk-through (or follow-up walk-through if necessary) prior to Closing.” Therefore, once the buyer notifies the seller that they would like to conduct any inspection(s) or appraisal(s) permitted under the contract, the seller has already agreed through this contract clause to provide utilities and access.


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REALTOR® Logos and Trademark Rules

REALTOR® Logos and Trademark Rules

It is important to use NAR’s membership marks—including the REALTOR® logo and the terms REALTOR®, REALTOR-ASSOCIATE®, REALTORS®—correctly and according to the rules outlined in the Membership Marks Manual.

Read the top 5 things you need to know about using the REALTOR® trademarks correctly, then take this quiz to test your knowledge.

he Same Rules Apply to Use of the MARKS on the Internet

The policies and guidelines set forth in this Manual apply to all uses of the MARKS – including use on the internet and in social media. Therefore, Member Boards may only use the MARKS in their domain name or username if used properly in connection with their name or sponsored activities; and members may only use the MARKS in their domain name or username if used properly in connection with the member’s name or firm name.

The Limitation on Form requires Member Boards and members to use separating punctuation, all capital letters, and the registered “®” symbol. This Limitation is relaxed when it is not possible or feasible to use the required form in domain names or usernames.

The following examples are all proper uses of REALTOR® by a member named Jane Smith:  (SUCH AS EMAIL , DOMAIN OR SOCIAL)

Proper Uses
Janesmithrealtor
Jsmithrealtor
Smithrealtor
jane_smith_realtor
realtorjanesmith
realtorjsmith
realtorsmith
realtor_smith
jane_the_realtor
jane_a_realtor
realtorjanechicago
chicagojanerealtor
realtor_jane_number1

The following examples are all improper uses of REALTOR® because they each include a descriptive work or phrase in connection with the MARK:

Improper Uses
Chicagorealtor
Yourchicagorealtor
your_chicago_realtor
cyberrealtor
virtualrealtor
realtor_mom
realtorsolution
localrealtor
top_chicago_realtor
number1realtor
hotshotrealtor
residentialrealtor
commercial_realtor
janechicagorealtor

 

Get tips for using the terms REALTOR®, REALTOR-ASSOCIATE®, and REALTORS®:

Social Media Use

What is a Facebook username?
Facebook is for the first time allowing users to register a custom username. Each Facebook account can only have one username and you can never change nor can you transfer it to someone else. In fact, even if you delete your Facebook account, your username will not go back in the pool of available usernames. As of now, Facebook usernames are only being used for custom URLs, but the uses for usernames might change in the future. Choosing a Facebook username is optional and having a username will not change the name that appears on your profile or anywhere else on the site.

Can I use the REALTOR® marks with my username on social networking sites such as Facebook or Twitter?
The same rules governing the use of the REALTOR® marks apply on the internet. In a username, members are authorized to use the REALTOR® marks only to indicate membership to NAR by using the marks with a member’s name or with the legal name of a member broker’s real estate business.

Do I need to use punctuation to separate the REALTOR® marks from my name in a username, email address, or domain name?
The REALTOR® marks do not need to be separated from a member’s name or real estate business name with punctuation in usernames, email addresses, or domain names.

In a username, do I still need to capitalize the REALTOR® marks or use the trademark registration symbol?
The requirements to use capitalization and the registration symbol with the REALTOR® marks are relaxed since such formalities either cannot or are not normally observed on the Internet including on social media sites.

Why do the rules prohibit the use of descriptive words or phrases with the REALTOR® marks (e.g. hotshotrealtor or floridarealtor)?
The term REALTOR® was created by a member to identify members and distinguish them from non-members. When the REALTOR® marks are used with a descriptive word or phrase it does not identify a person as a member but is most likely to be understood to be referring to a type or service that might be provided.

Is it okay for me to use the REALTOR(R) block R logo as the icon for a mobile device application, such as an iPhone App?
The rules for using the REALTOR(R) logo as an icon for an application are the same ones which govern its use in any other medium. The logo is intended to identify the user as a member of the Association. A Member may use the REALTOR (R) logo as an icon for an App if (i) the App is provided in connection with the Member’s real estate business and (ii) the logo appears in the icon adjacent to the Member’s name or the name of the member’s real estate business. A Member Board may use the REALTOR(R) as an icon for an App if (i) the App is provided in connection with the Member Board’s publications, or its educational courses, clinics and similar service projects produced or sponsored by the Member Board and (ii) the logo appears adjacent to the Member Board’s name. Please note, acronyms and abbreviations are not permitted.

 

To read more, visit: https://www.nar.realtor/logos-and-trademark-rules


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New condo and association laws go into effect July 1 2018

1. Official records – 718.111(12)(b)/HB841. Plans, permits, warranties, declaration, articles, bylaws, rules. meeting minutes and accounting records from the inception of the association must now be kept forever. Chapter 718 previously required these documents to be kept for only 7 years. All other records must still be kept for 7 years with exception of ballots, proxies and related voting material that only needs to be kept for 1 year.

2. Access to official records – 718.111(12)(b)/HB841. Access to official records must be made available within 10 “working” days. Formerly it was 5 working days but since the penalty did not arise until after 10 working days effectively nothing has changed. Records must still be made available within 10 “working” days.

3. Website creation – 718.111(12)(g)1/HB841. The requirement imposed in 2017 that condominiums (excluding timeshares) must create a website and post digital copies of most of its official records on its website by July 1, 2018, has been extended to January 1, 2019. The term “association” has been replaced by the term “condominium” thereby making it clear that multi-condominium associations that manage several condominiums each with less than 150 units but cumulatively 150 or more units are now exempt from the website requirement.

4. Website records – 718.111(12)(g)2.e and g/HB841. A list of all bids in excess of $500 received by the association for materials, equipment or services within the past year must now be posted on the website if a website is required. Additionally, the “monthly income or expense statement” must be posted.

5. Website records failure to post – 718.111(12)(g)4/HB841. The failure to post required records on the website is not sufficient to invalidate any action or decision of the association’s board or any committee.

6. Board and members meeting notices on website – 718.112(2)(c)1 and (d)/HB841. In addition to sending and posting notices for board and members meetings by regular mail, the board may now adopt a rule to allow the posting of such notices on the website if a website is required. The rule must also require that an e-mail be sent to all owners who have requested electronic notice with a link to the posted notice.

7. Term limits – 718.112(2)(d)2/HB841. The 2017 law limiting a director from serving no more than four consecutive two-year terms has been changed. The law now provides that regardless of the length of the term (one year or two years) a director cannot serve more than eight consecutive years unless no other eligible candidates run or at least 2/3 of those who vote approve the person to continue serving beyond eight consecutive years. The revised language also clarifies that if the governing documents so provide, directors may be elected to serve terms of more than two years each.

8. Electronic notice – 718.112(2)(d)6/HB841. An owner who consents to electronic notice is solely responsible for removing or bypassing filters that block receipt of e-mails. This will prevent an owner from objecting to a lack of notice if the notice is stopped by the owner’s spam filter.

9. Recalls – 718.112(2)(j)1/HB841. A director is recalled immediately at the conclusion of the board meeting held to consider the recall if the recall is deemed “facially valid.” Under the prior 2017 change in the law which created a number of procedural ambiguities, the director was apparently recalled even if the recall agreements were clearly insufficient in number to effectuate a recall. Note that a definition of “facially valid” is not provided.

10. Recalls attorney fees – 718.112(2)(j)6/HB841. If a recalled board member files a petition for arbitration to challenge the recall and is successful, then the arbitrator may award reasonable attorneys’ fees and costs. If the board member is unsuccessful, the arbitrator may award the other party its attorneys’ fees and costs but only if the challenge is found to have been “frivolous.”

11. Material alterations – 718.113(2)(a)/HB841. Clarifies that any material alteration or substantial addition to the common elements that requires owner approval must be approved before the work is commenced.

12. Electronic vehicle charging – 718.112(8) and 718.121(2)/HB841. Allows unit owners to install electronic vehicle charging stations in their limited common element parking spaces under certain conditions and subject to certain requirements. Among other things, the owner must pay to install a separate meter and pay for the electricity. Further, the owner’s insurance must also name the association as an additional insured, and if the association’s insurance premium goes up as a result of the charging station, the owner must pay the increase. Moreover, if the owner fails to pay the contractor that installs the charging equipment, the contractor cannot file a construction lien against the association.

13. Contracts with directors – 718.3026(3) and 718.3027(2)/HB841. The 2017 change in the law allowing an association to contract with a director under certain circumstances but allowing owners to void any such contract with a vote at the next members meeting was removed from 718.3026 and relocated to 718.3027.

14. Fines and suspension committees/Payment of fine – 718.303(3)(b)/HB841. Provides that the fining committee has three members and that the members cannot be the “spouse, parent, child, brother, sister or employee” of any director. Formerly, the condominium law did not set the number of members and only prohibited board members and persons residing with a board member from being on the committee. Oddly, the new law removes the prohibition that a member of the committee cannot be residing with a director. If the committee approves the fine it must be paid within five days of the committee meeting. The association must give written notice of the fine or suspension after the committee approves it by mail or hand delivery.

 

Source: floridarealtors.org


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Your Home Inspection Checklist

Unless it’s a glaring flaw or you’re a trained professional, you probably can’t tell if your home needs repairs. The home inspection is one of the most critical pieces of the buying and selling process. It’s good to know what to look for before any inspection. If you’re buying, you’ll have a better idea of what the inspector is looking for and if he or she misses anything. If you’re selling, you can have an idea of what to fix before your home goes on the market. It will take away the chance of surprises.

Here are a few things to look for:
Are there visible cracks?
Are your appliances all working well?
Do you hear any unusual noises?

I’ve been through many, many home inspections in the area. I can help you understand this checklist and how to negotiate after the home inspection.


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Pathways to Professionalism

We call ourselves RE/MAX Elite. 

The definition of Elite is: the choice of anything considered collectively, as a group or class of persons. 

So as the choice or best, we hold ourselves to a higher standard, we are professionals, we are the best of our class, we are the Elite of our industry.  As Realtors we subscribe to the Code of Ethics.  While the Code of Ethics and Standards of Practice of the National Association establishes objective, enforceable ethical standards governing the professional conduct of REALTORS®, it does not address issues of courtesy or etiquette.
Based on input from many sources, the Professional Conduct Working Group of the Professional Standards Committee developed the following list of professional courtesies for use by REALTORS® on a voluntary basis. This list is not all-inclusive, and may be supplemented by local custom and practice and is a good reminder to us all.

I. Respect for the Public

  1. Follow the “Golden Rule”: Do unto other as you would have them do unto you.
  2. Respond promptly to inquiries and requests for information.
  3. Schedule appointments and showings as far in advance as possible.
  4. Call if you are delayed or must cancel an appointment or showing.
  5. If a prospective buyer decides not to view an occupied home, promptly explain the situation to the listing broker or the occupant.
  6. Communicate with all parties in a timely fashion.
  7. When entering a property ensure that unexpected situations, such as pets, are handled appropriately.
  8. Leave your business card if not prohibited by local rules.
  9. Never criticize property in the presence of the occupant.
  10. Inform occupants that you are leaving after showings.
  11. When showing an occupied home, always ring the doorbell or knock—and announce yourself loudly before entering. Knock and announce yourself loudly before entering any closed room.
  12. Present a professional appearance at all times; dress appropriately and drive a clean car.
  13. If occupants are home during showings, ask their permission before using the telephone or bathroom.
  14. Encourage the clients of other brokers to direct questions to their agent or representative.
  15. Communicate clearly; don’t use jargon or slang that may not be readily understood.
  16. Be aware of and respect cultural differences.
  17. Show courtesy and respect to everyone.
  18. Be aware of—and meet—all deadlines.
  19. Promise only what you can deliver—and keep your promises.
  20. Identify your REALTOR® and your professional status in contacts with the public.
  21. Do not tell people what you think—tell them what you know.

II. Respect for Property

  1. Be responsible for everyone you allow to enter listed property.
  2. Never allow buyers to enter listed property unaccompanied.
  3. When showing property, keep all members of the group together.
  4. Never allow unaccompanied access to property without permission.
  5. Enter property only with permission even if you have a lockbox key or combination.
  6. When the occupant is absent, leave the property as you found it (lights, heating, cooling, drapes, etc.) If you think something is amiss (e.g. vandalism), contact the listing broker immediately.
  7. Be considerate of the seller’s property. Do not allow anyone to eat, drink, smoke, dispose of trash, use bathing or sleeping facilities, or bring pets. Leave the house as you found it unless instructed otherwise.
  8. Use sidewalks; if weather is bad, take off shoes and boots inside property.
  9. Respect sellers’ instructions about photographing or videographing their properties’ interiors or exteriors.

III. Respect for Peers

  1. Identify your REALTOR® and professional status in all contacts with other REALTORS®.
  2. Respond to other agents’ calls, faxes, and e-mails promptly and courteously.
  3. Be aware that large electronic files with attachments or lengthy faxes may be a burden on recipients.
  4. Notify the listing broker if there appears to be inaccurate information on the listing.
  5. Share important information about a property, including the presence of pets, security systems, and whether sellers will be present during the showing.
  6. Show courtesy, trust, and respect to other real estate professionals.
  7. Avoid the inappropriate use of endearments or other denigrating language.
  8. Do not prospect at other REALTORS®’ open houses or similar events.
  9. Return keys promptly.
  10. Carefully replace keys in the lockbox after showings.
  11. To be successful in the business, mutual respect is essential.
  12. Real estate is a reputation business. What you do today may affect your reputation—and business—for years to come.

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New Team-Group FREC Advertising Rules

New FREC Advertising Rules and what it means for you!

FREC 61J2 – 10.026 Team or Group Advertising

*REVISED 6.18.18EFFECTIVE DATE JULY 1, 2019

Something to note, even though this is geared more towards Teams, we anticipate this rule being across the board for advertising from Team or Individual Agents.

(1) “Team or group advertising” shall mean a name or logo used by one or more real estate licensees who represent themselves to the public as a team or group. The team or group must perform licensed activities under the supervision of the same broker or brokerage.

(2) Each team or group shall file with the broker a designated licensee to be responsible for ensuring that the advertising is in compliance with chapter 475, Florida Statutes, and division 61J2, Florida Administrative Code.

(3) At least once monthly, the registered broker must maintain a current written record of each team’s or group’s members.

(4) Team or group names. Real estate team or group names may include the word “team” or “group” as part of the name. Real estate team or group names shall NOT include the following words:
(a) Agency
(b) Associates
(c) Brokerage
(d) Brokers
(e) Company
(f) Corporation
(g) Corp.
(h) Inc.
(i) LLC
(j) LP, LLP or Partnership
(k) Properties
(l) Property
(m) Real Estate
(n) Realty
(o) Or similar words suggesting the team or group is a separate real estate brokerage or company

(5) This rule applies to all advertising.

(6) Advertisements containing the team or group name shall not appear in larger print than the name or logo of the registered brokerage. All advertising must be in a manner in which reasonable persons would know they are dealing with a team or group.

(7) All advertisements must comply with these requirements no later than July 1, 2019.

 

Nothing in this rule shall relieve the broker of their legal obligations under chapter 475, Florida Statutes, and division 61J2, Florida Administrative Code.

Rulemaking Authority 475.05, 475.25(1)(c) FS. Law Implemented 475.25 FS. History–New 6-18-18.


FREC: Fla. officially has a new team advertising rule

The team ad regulation, 61J2-10.026 Team or Group Advertising, is posted on Florida Realtors’ website. The rule impacts office procedures and team advertising. In some cases, changes could take time to complete; however, brokers and their teams have until July 1, 2019, to comply.   Florida Realtors Law & Policy department suggests that impacted members begin reviewing the regulation.
Questions? Email LegalNews@floridarealtors.org   Attorneys will review your questions, discuss issues with FREC if appropriate and provide member updates shortly.

Here 4 quick things to think about as we get ready for this new rule.

1.As you are designing logos and marketing, think of where the RE/MAX Elite logo will be placed..along side your branding.  We have several logos to choose from to make this easier for you or feel free to get with Heather for some brainstorming sessions.

2. Website – If you are using a website other than the RE/MAX SPAW website, is the office name/logo alongside your name, logo or branding?

3. Advertising Images – Any images you post to social media or advertising that has your Name or Logo needs to have the Office name or logo as well.  Currently the only requirement is that the Brokerage name be on the image but if these rules get passed, the Brokerage name will need to follow these new rules and be as prominate as your branding.

4. Social Media – In your Bio/About you should list the Brokerage name.


 

CURRENT ADVERTISING LAWS:

61J2-10.025 Advertising.
(1) All advertising must be in a manner in which reasonable persons would know they are dealing with a real estate licensee. All real estate advertisements must include the licensed name of the brokerage firm. No real estate advertisement placed or caused to be placed by a licensee shall be fraudulent, false, deceptive or misleading.

(2) When the licensee’s personal name appears in the advertisement, at the very least the licensee’s last name must be used in the manner in which it is registered with the Commission.

(3)(a) When advertising on a site on the Internet, the brokerage firm name as required in subsection (1) above shall be placed adjacent to or immediately above or below the point of contact information. “Point of contact information” refers to any means by which to contact the brokerage firm or individual licensee including mailing address(es), physical street address(es), e-mail
address(es), telephone number(s) or facsimile telephone number(s).

(b) The remaining requirements of subsections (1) and (2) apply to advertising on a site on the Internet.

Specific Authority 120.53, 475.05, 475.25(1)(c) FS. Law Implemented 475.01, 475.25, 475.42, 475.421, 475.4511 FS. History–New 1-1-80,
Amended 2-17-81, 3-14-85, Formerly 21V-10.25, Amended 12-29-91, 7-20-93, Formerly 21V-10.025, Amended 4-18-99, 7-4-06, 2-5-07.


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4 Steps to Staying Safe… Realtor Edition

You have heard the reports on the news or the stories in the industry but you haven’t used safety precautions yourself. Are you afraid to lose business by asking the questions or putting your safety first? Nothing is more important than you and your safety and some of these techniques could boost your business when customers know how seriously you take your job and your safety.

Getting to know your customer

Choose a public place to meet a new client for the first time. The best location is the office, that gives you a chance to photocopy their ID if you so desire. It also gives you the opportunity to review expectations from both sides, theirs of you and yours of them. IF a buyer insists on meeting you for the first time at a vacant house, you shouldn’t be meeting them at all.

Trust Your Gut 

If your gut tells you something is wrong, it probably is. If you arrive before the home buyer, and you don’t really know them yet, park in the street so you don’t get blocked in. Never meet someone in the dark unless you know them. Tag team with someone at your office and let each other know where you are meeting people if it someone you are working with for the first time. Conveniently be on the phone when the client arrives so they know someone is aware of where you are. Politely tell the person on the phone my customer for the house on —– just arrived I will speak to you when I am done.

Buddy System

Have a buddy with you during Open Houses. Open Houses can be very busy these days, having another agent there or an assistant can help you out in more ways than one.

Self Defense Moves

Take a self defense course. From NAR”s 2016 Member Safety Report 40 percent of REALTORS have taken a self defense course and 73% feel safer after taking one. Install a safety app on your smart phone to track your whereabouts and alert colleagues in case of an emergency.

 

For further information about ways to increase your on-the-job safety, check out Beverly Carter Foundation, www.beverlycarterfoundation.org and the NAR-sponsored Safety Matters course nar.realtor/topics/realtor-safety.

Check out our Realtor Safety Guide too!


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How can I get more Feedback on my listings?

 

One of the biggest frustrations these days is not getting feedback from agents that show your listings, especially when your seller is expecting it. Personally, I send an email, if I don’t get a response I also call and text, sometimes to no avail. Conversely, when you show a home are you providing feedback? If not why aren’t you? Do you expect it on your listings?

So, what can you as the list agent do differently to make it easier? Here are a few of the ways we’ve seen agents succeed:

Well, the first thing is make it as easy as possible for an agent to schedule a showing. Additionally explain this to your seller, the easier the home is to show the more likely an agent is to show it.
Remember, the agent most likely showed several homes and may have them confused, so make sure you include a picture of the home in the feedback request, the showing agent is more likely to remember the home if they see a photo.

Ask for the feedback right away, keep the form short and ask for answers that you will use, maybe the generic feedback form isn’t right for you or your listing.

Click here to download the Top 5 Steps to More Showings & Feedback from Showing Time!

Managing Broker / President of Operations

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Business Email Compromise (BEC)

Broker Buzz: What is (BEC)?

This may be a new phrase and acronym to some and many of you may have already heard it.  Business Email Compromise goes hand in hand with the Buzz Topic we have been hearing a lot about Cyber Fraud, Wire Fraud, Cyber Security.

This is when a Realtor, a Buyer , A seller or any party to a real estate transactions email has been hacked and then the buyer is given false wiring information.  If you missed the seminar hosted by Prestige Title on 09/27/2017 where the local FBI came to speak you missed a lot of great information.

Since January 2015 there has been a 2400% (yes I did just say 2400%) increase in the US.  $113,719 is the average amount of a loss.  To put into perspective, in 2016 REPORTED credit card fraud in the US amounted to $45k and REPORTED BEC fraud amounted to $400k+

There are two parts to this type of crime and therefore 2 parts are investigated.

1. is the Cyber or the Hacking and that is investigated by the FBI’s Cyber division.

2. What happens to the $.  That is the white collar part and is investigated by the FBI’s white collar crimes division.

The white collar crimes goal is to get the money back.  However, due to high volume of incidents they only investigate incidents of $50k or more.

What does the FBI want you to do if this happens to one of your customers?

1.  Call the bank that the money was wired from

2.  Call the FBI, white collar crimes division, Our two local contacts are:  SSA Andrew Sekela 813-253-1001 asekela@fbi.gov and SSA James Rothe 321-757-6075 jrothe@fbi.gov

3. File a complaint with IC3 at www.IC3.gov

They want you to do all 3 of these steps even if it is under $50k so they can keep track of it.

Please see additional information tips from Prestige Title:

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