1) FSBO COMPENSATION, HOW TO FIND DISTRESSED PROPERTIES?

2) POLICIES AND PROCEDURES, CHANGES FOR 2020

3) HOA FEE’S INCREASE DURING ESCROW...DISCLOSE? YES!

4) POA, SON HAS POA BUT FATHER HAS DIED...POA IS NO LONGER VALID!

5) WEBSITE ACCESSIBILITY

6) USING SOCIAL PROOF TO AMPLIFY YOUR REAL ESTATE MARKETING STRATEGY

7) 5 Ways to Defend Your Business Against a Data Breach

8) CAN SELLER DEMAND TO SEE BUYERS TAX RETURNS…?

1) Q: How do I get paid by FSBO’s? How do I find information on property auctions?

1. What else should I be aware of when looking at FSBO’s aside from the fact that no compensation is guaranteed? (I would assume that dealing with someone with little to no knowledge of real estate law could be daunting…)-If you want to get paid by a FSBO you would have them sign the form titled "Unrepresented Seller Compensation Agreement" prior to submitting an offer. We always want to have compensation buttoned down prior to engaging in contract negotiations. If the FSBO will not pay compensation, then you would need to look to your buyer to pay your commission through the Buyer Broker Agreement. Or, you could be compensated through a combination of both with proper disclosure (For example, you would write this on page 8 of the pc: Buyers agent is being compensated by both the seller & buyer in this transaction).

2. Where would I access information regarding local property auctions?-For tax delinquency auctions you would contact the Maricopa County Assessors Office. For a general MLS search for auctions, foreclosures, etc, you would add the search field(s) from one or more of the MLS special listing conditions. When an agent enters a listing into ARMLS, the input fields for special listing conditions are as follows:

Additionally, you could add search fields to the monsoon tax records and search there as well.

You would need to reach out to monsoon directly to find out what those search fields are.

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2) Policies and Procedures: Changes to policies and procedures for 2020:

Per Laurie McDonnell, 12/2/2019: Very minor changes to P&P - more than anything clarifying language on when deductible is due by agent when demand and/or claim made and that we cannot allow owner agent vacant land or commercial sales (as we discussed in last meeting) because we do not have e&O coverage. Late file language modified to be more clear as well.

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3) HOA FEE’s INCREASE: Q: Hi Jeff, hope you had a nice holiday. Crazy weather! Just found out that the HOA fee is going up in January from $330 to $345. I have a listing in escrow due to close 12/18. Should I have buyer sign an addendum or something? Thanks A: Yes, I would have them sign off acknowledging the increase. That information should also have been sent along with the HOA disclosure package where they discuss and disclose monthly fee's and other financial disclosures.

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4) POA, SON HAS POA BUT FATHER DIED: Q: Got another question. My client/friend passed away a week ago. I have a copy of the POA sent me by his son. Do I need new paperwork signed? Or just use the original contract with the father and tell title about the POA? Thanks. A: POA is extinguished upon death of the principal, so they will need some type of replacement document for the son to act, such as Personal Representative, Executor, etc. These are associated with a deceased party since POA ceases to exist. Generally speaking, even though the father is deceased the contract is still binding on the estate, so the son should explore other options to become the authorized signer on behalf of his fathers estate.

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5) Website Accessibility

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Web Accessibility Help

There are actions you can take to adjust your web browser to make your web experience more accessible.

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If you have trouble seeing web pages, the US Social Security Administration offers these tips for optimizing your computer and browser to improve your online experience.

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Increase text size

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I am deaf or hard of hearing

If you are deaf or hard of hearing, there are several accessibility features available to you.

Transcripts
A text transcript is a text equivalent of audio information that includes spoken words and non-spoken sounds such as sound effects. HomeSmart is working on adding transcripts to all scripted video and audio content.

Captioning
A caption is transcript for the audio track of a video presentation that is synchronized with the video and audio tracks. Captions are generally rendered visually by being superimposed over the video, which benefits people who are deaf and hard-of-hearing, and anyone who cannot hear the audio (e.g., when in a crowded room). Most of HomeSmart’s video content includes captions. Learn how to turn captioning on and off in YouTube.

Volume controls
Your computer, tablet, or mobile device has volume control features. Each video and audio service has its own additional volume controls. Try adjusting both your device’s volume controls and your media players’ volume controls to optimize your listening experience.

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6) USING SOCIAL PROOF TO AMPLIFY YOUR REAL ESTATE MARKETING STRATEGY (CLICK HERE)

October 25, 2019

By 2-10 Home Buyers Warranty

7) 5 Ways to Defend Your Business Against a Data Breach (click here)(NAR Article)

$1 Billion: Reports of real estate-related email phishing scams jumped 1,100% between 2015 and 2017, according to the Consumer Financial Protection Bureau. The CFPB estimates a loss of nearly $1 billion to date in real estate transactions due to such scams.

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8) CAN SELLER SEE BUYERS TAX RETURNS…? Q: I have a client who put in an offer on a home where it just came back on the market due to financing, the seller is nervous, I understand that. He sent a note to the listing agent who passed it on to me. He asked for some proof of funds, which is fine, but also asked that the borrower show him their tax returns and pay stubs. As of now I am having them get all this to the lender who had most of it, but was waiting on recent pay stubs. I know my buyer really wants the home. I do not however want to break any rules doing this, I advised we get it all to the lender and have her write the seller to verify all is well to move forward. Just curious, Is it okay if the buyer wants to provide this to the seller~ can this be done? I don't want them to do this, but want them to get the house, of course. A: Hi X, No, that would not be advisable. That is all highly confidential information, I would not feel comfortable providing that to another "consumer" (buyer or seller), who knows where or how the information could end up being used. The proof should come from the professional, licensed lender or other reputable source of the buyers choosing. The seller can certainly follow up with the "source" to ask further questions, get clarification, etc. Please feel free to call with any questions, Jeff.

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