Today is the beginning of Fair
Housing Month. The Fair
Housing Act was enacted on April 11, 1968, making it unlawful to discriminate
against any person based on race, color, national origin, religion, sex,
familial status, or handicap in the sale or rental of a dwelling. Although
brokers must comply with the Fair Housing Act every day, it is in the month of
April that the Fair
Housing Act should be commemorated. Print out the Fair
Housing Declaration and hand it out to your fellow agents. Reread the Fair Housing Act, and
do not forget to sign up and attend our Lieb
School class on the Fair Housing Act on
September 18, 2014 or December 10, 2014.
Tuesday, April 01, 2014
Monday, March 31, 2014
The alleged effects of mold on
human health has been addressed by New York’s highest court, the Court of
Appeals, on March 27, 2014 in Cornell
v. 360 W. 51st St. Realty, LLC.
The facts of the case were that Ms.
Cornell resided in an apartment from 1997 to 2003, after which time she vacated
the property due to alleged health issues allegedly caused by mold and dampness
in her apartment. She claimed to be dizzy, asthmatic and congested and was
unable to function or sleep properly while in the apartment.
51st Street Corporation opposed
her claim, arguing that Cornell was unable to prove a cause-effect relationship
between mold and disease. Relying on a clinical immunologist as an expert, 51st
Street Corporation demonstrated that the scientific community generally accepts
that mold can cause disease through specific channels; however, none of
Cornell’s symptoms can be directly linked to mold exposure.
In dismissing the complaint, the
Court held: “Studies that show an association between a damp and moldy indoor
environment and the medical conditions that [Plaintiff’s Expert] attributes to
Cornell’s exposure to mold…do not establish that the relevant scientific community
generally accepts that molds cause
these adverse health effects.”
Brokers, keep this case in mind as
you work with clients who have fears about the effects of mold on human health
when they refuse to enter a property claiming to smell mildew.
As the Court explained, mold
exposure is not established by the scientific community to create toxic
effects, except for cases of ingestion. It only is shown to cause an immune
response in allergic individuals.
The Senate is currently formulating its bipartisan
plan to overhaul Fannie
Mae
and Freddie Mac
in the Committee
on Banking, Housing, and Urban Affairs. Chairman Tim Johnson
(D-SD) and Ranking Member Mike
Crapo (R-ID) have been working together to craft
legislation that shifts the mortgage market to the private sector and creates
the Federal Mortgage Insurance Corporation (FMIC) that will protect taxpayers
from having to bear the costs if another housing bubble bursts in the future. FMIC
will be an independent agency that supervises servicers and guarantors and
provides insurance on mortgaged-backed securities. It will also create a
mortgage insurance fund that funds insurance claims but only after the private
sector absorbs the initial risk. The government will remain a guarantor of
mortgages as a last resort.
In a news
release, Mike Crapo
explained, “This agreement moves us closer to ending the five-year status quo
and beginning the wind down of Fannie and Freddie while protecting taxpayers
with strong private capital, building the components for a stable secondary
market and avoiding repeating the mistakes of the past. Government control of
Fannie and Freddie with no private capital to protect taxpayers against losses
is unacceptable.”
This legislation is
only in its early stages, focusing on the necessity of a smooth and efficient
transition to private lending and the continuing availability of the affordable
30-year mortgage. Brokers, change is coming to the mortgage market, and it is essential
that you are knowledgeable every step of the way to a final bill. This
legislation directly affects your occupation and your clients, so keep your eyes
open for more advances in legislation.
Friday, March 14, 2014
Around this time in 2013, Forbes reported that CareerBliss' employee-generated reviews determined that being a Real Estate Agent is the happiest career in America. Click here for the article. The results are old, but the underlying reasons are what interested me, not to mention they are still relevant today. Let's find out why being a Real Estate Agent is such a happy job:
The study asked employees to review ten factors that affect their workplace happiness:
The study asked employees to review ten factors that affect their workplace happiness:
- Relationship with boss
- Relationship with co-workers
- Work environment
- Job resources
- Compensation
- Growth opportunities
- Company culture
- Company reputation
- Daily tasks
- Control over which tasks to perform each day
Being a Real Estate Agent is not your typical 9-5 cubicle job where your job is to simply finish the work that is handed to you. Every agent knows that they are solely responsible for their success. As a Real Estate Agent, your rewards are proportional to your effort, professionalism, and skill. If you want to just "show up" and coast, you are going to fall flat on your face. On the flip side, if you want to be in control of your career, all of the tools are laid at your feet.
When a Real Estate Agent joins a brokerage, they are giving away part of their hard earned commissions in exchange for the benefits being a member of a brokerage provides. When you look at the ten factors above, you see ten things which Real Estate Agents want in their careers, and ten things brokerages want to provide to help their agents succeed.
A Real Estate Agent at a major brokerage can check off each of the ten factors:
- A professional relationship with their boss who rises and falls with their agent's success.
- A professional relationship with their co-workers who share the same goals and have the same desire to succeed. In addition, all the benefits which accompany having a large network of agents which makes it easier to connect buyers and sellers. Your co-workers are a resource to be utilized and respected.
- A positive work environment which is a product of the other nine items on this list.
- Access to MLS or a similar listing service, a strong legal team, professional office space, advertising, brand recognition, and other brokerage specific resources which help you do your job better, faster, and more efficiently.
- Compensation that rewards you for your work - your extra effort finds its way directly into your pocket.
- Unlimited growth opportunity - the only ceiling is your own desire and will succeed.
- A company culture that rewards success and promotes independence.
- Brand recognition and reputation that lends itself to any agent who operates under their brokerage's umbrella.
- A work day which is almost never the same as the day before, or the next day. There are always new challenges to tackle and new faces to interact with.
- Nearly completely autonomous control over what to do, when to do it, and how to do it.
Brokerages - Think about what your agents want and how you can help them succeed. After all, their success is your success.
Real Estate Agents - Think about all the benefits your brokerage provides and make sure you are utilizing each them to their full extent.
Non real estate professionals - How can you incorporate some of the things from this list to make your work (or your employees) more enjoyable and more productive?
As for the unhappiest job in America, I guess CareerBliss forgot to interview Lieb at Law employees.
Real Estate Agents - Think about all the benefits your brokerage provides and make sure you are utilizing each them to their full extent.
Non real estate professionals - How can you incorporate some of the things from this list to make your work (or your employees) more enjoyable and more productive?
As for the unhappiest job in America, I guess CareerBliss forgot to interview Lieb at Law employees.
Sunday, March 09, 2014
Donald Bell of CNET goes through simple smart home upgrades that are must haves for those techies in the real estate world.
Mr. Bell discusses the best in smart lights, outlets, smoke detectors, thermostats and locks that will change your home and change your life.