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- Monthly Market Statistics for May 2024 Available on TCSR Website
- Recap - Navigating Change: An Action Plan to Preparing for the NAR Settlement Agreement
- REALTOR® Cooperation and Compensation: Navigating a Changing Landscape (6-12-2024)
- Two Members of Tri-County Graduate from LeadershipPAR
- Experience the Best of Philly’s Housing Community at MBA’s Summer Celebration!
- Bright MLS: June Updates
- SRA: Upper Providence Approves Zoning Change For Alternative Parkhouse Development Plan
- Calendar of Events
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Monthly Market Statistics for May 2024 Available on TCSR Website
Tri-County Suburban REALTORS® continues to help members communicate the latest
real estate market conditions with a set of Monthly Residential Market Statistics for
area counties and their respective school districts. Note that these monthly statistics
cover all school districts in Chester, Delaware, and Montgomery counties.
Philadelphia and select Berks County school districts are also available. The
reports are updated between the 10th and the 12th of the month for the previous
month’s statistics. If you have questions or requests, please contact Tri-County
Suburban REALTORS® Director of Marketing and Communications, Lauren Davis.
An assortment of reports is also available to Bright MLS subscribers at BrightMLS.com
such as a monthly Market Report, and a Marketing ToolKit to coincide. Once logged
into their site, click the "Market" tab and choose the " Market Statistics Report" button
in the drop-down menu to access various reports.
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Recap - Navigating Change: An Action Plan to Preparing for the NAR Settlement Agreement On June 11th, Tri-County Suburban REALTORS® hosted “Navigating Change: An Action Plan to Preparing for The NAR Settlement Agreement”, a free seminar on the recent NAR settlement. The event was moderated by Michael Maerten, Chairman of the Board, who emphasized the importance of navigating the current uncertainties with confidence and practical strategies. Panelists included Shannon DiIorio, Matt Mittman, and Jason Ostrowsky.
Spearheading the effort to have this seminar, Maerten emphasized the importance of providing this panel to members, stating, “It is crucial for agents to feel confident as they navigate the uncertainties in the marketplace and to chart a path forward with practical tips for advancing their business.”
Maerten highlighted the essential roles agents play in marketing, sales, consultancy, and advocacy. He underscored the need for agents to "humanize the experience" and adopt a "learn it ‘till you earn it" mentality, especially in today's unpredictable market.
A central theme in all panel discussions was the importance of clearly communicating the value of being a buyer's agent. The emphasis was on making the often-unseen efforts visible to clients, highlighting the extensive work done on their behalf.
Key Insights from the Panel
- Bring a heightened awareness and stress the importance of standard forms & contracts, in particular, the Buyer Agency Contract & Standard Agreement of Sale.
- Utilize PAR Guidelines for Preparation and Use to sharpen your skills.
- Register for a PAR Standard Forms Webinar to understand the changes coming standard forms.
- Consider getting a designation like Real Estate Negotiation Expert Course (RENE), or take a certification course New-Home Constructions and Buyer Representation.
- Concentrate on controllable factors and develop a unique value proposition.
- Leverage client reviews & testimonials to find commonalities to refine messaging.
- Educate clients about the value of using a buyer's agent, particularly in mitigating risks, coordinating effective showings, and navigating legalities.
- Watch Bright MLS’s exclusive webinar: Why Buyers’ Agents Are Important to learn what clients value the most in their agents.
- Build upon the services you already offer.
- Know what to say & not say to clients regarding the settlement.
- Be adaptable.
- The fundamentals of agent services remain the same.
- Professionalism needs to be heightened.
- Build rapport with your clients early to establish trust in a market where consumers are being urged to question our profession.
- Take care to differentiate yourself as a buyer’s agent. Most agents set up buyer clients on a universal search, agents need to use creative ways to reverse prospect through farming specific neighborhood, or social media ads.
- Communicate and establish timelines for buyer clients that emphasize paperwork expectations and big players like loan officers, title agents, and inspectors at each major milestone of the transaction.
“Navigating Change: An Action Plan to Preparing for The NAR Settlement Agreement” was Tri-County Suburban REALTORS® first hybrid seminar, welcoming over 100 members virtually.
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REALTOR® Cooperation and Compensation: Navigating a Changing Landscape (6-12-2024)
Following the proposed settlement of litigation claims brought on behalf of home sellers related to broker commissions, REALTORS® are left wondering how to move forward. Tri-County Suburban REALTORS® is committed to working closely with NAR and PAR to navigate next steps to ensure a seamless transition. Each week your Tri-County Today will bring information and resources to help members rise to the challenge of the changing industry.
FAQ: What should listing brokers advise their clients about the prohibition of offers of compensation on an MLS?
- Listing brokers should inform their clients that offers of compensation will no longer be an option on an MLS.
- This change will not prevent offers of cooperative compensation off an MLS. And it will not prevent sellers from offering buyer concessions on an MLS (ex. concessions for buyer closing costs).
- Compensation would continue to be negotiable and should always be negotiated between agents and the consumers they serve.
Note: The Association has been made aware of agents seeking ways to circumvent the prohibition against offers of compensation on an MLS. Compensation may not be shared via the MLS. At all. Full Stop. There is no wiggle room, loophole or work-around to this.
Visit TCSR, PAR and NAR web pages dedicated to the latest news and information regarding the NAR Litigation Settlement.
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Two Members of Tri-County Graduate from LeadershipPAR
Tri-County Suburban REALTORS® is proud to congratulate Michael Howell, Incoming Chairman for Tri-County's Board of Directors, and Broker of Record Jennifer Botchway on graduating from LeadershipPAR!
Each year, a small group of REALTORS® are selected for this year-long program, which focuses on a host of leadership development topics. Nationally recognized speakers address issues like team-building skills, public speaking, working with volunteers, government affairs and how to improve and expand leadership styles. The program also enhances skills to better serve the community and the real estate industry.
Through LeadershipPAR, PAR identifies emerging REALTOR® leaders throughout the state and assists in developing their leadership skills in the hope they will exert a strong, positive influence on the future of the association and profession.
Ten participants graduated from the program in June 2024. The next application period will open in January 2025.
"One of my favorite things about it was the collaboration with other leaders around the state, aspiring leaders that are wanting to grow in their leadership and just building good relationships with other leaders. One of the highlights of the program was getting to know the PAR leadership and staff, and getting to see how well they run this amazing organization. I would highly recommend this program if anyone is looking to grow their leadership at their local or state level or if they just want to grow and learn more about leadership, public speaking and have a desire to be a good leader."
- Michael Howell, Incoming Chairman Tri-County's Board of Directors
"Being a part of LeadershipPAR was an invaluable experience. The program offered insights into effective leadership and provided a platform for personal and professional growth. It fosters a supportive community to develop skills in communication, conflict resolution, public speaking, and other important segments of leadership. I highly recommend it to fellow members who are eager to develop their leadership skills and make a meaningful impact in their communities." - Jennifer Botchway, Broker
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Experience the Best of Philly’s Housing Community at MBA’s Summer Celebration! The Mortgage Bankers Association of Eastern Pennsylvania is hosting a summer party and you're invited! This event is open to anyone who is a member of the Pennsylvania housing community: Mortgage, Title and REALTORS®.
Join MBA to celebrate the summer solstice in an outside venue with open bar, food and the world (kinda) famous industry live band: The Loan Rangers!
This is a great opportunity for social networking with a fantastic group of local housing professionals, and it's FREE. This is the Philly area’s first event with three industry groups. Don’t be left out! Registration is required.
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Bright MLS: June UpdatesThere are a lot of important updates and information to keep track of this summer. Stay informed about the latest developments with resources that offer clarity and detail around some of the industry’s hottest topics.
NAR Settlement and Other Summer Updates
- New Concession Fields at Listing Entry and Close: Starting June 12, you will have a new, optional seller concession field when entering listings in Bright. You will also have the option to add the specific concessions that were included in the transaction at the time of closing.
- Updates to Policies and Compensation: In addition to the new concession fields, Bright will be making other changes this summer in response to the NAR settlement, including the removal of compensation fields and updates to various Bright Policies. If you missed it, watch our exclusive webinar that explores NAR and Bright Policy changes coming this summer, including what to expect and how to prepare.
- Make sure you’re getting emails from Bright by adding communications@brightmls.com to your email platform’s safe senders list, and keep up with the latest information on all of these topics at BrightMLS.com/NARSettlement.
Nestfully App.
Your trusted home search platform is unveiling some exciting developments in the coming months, starting with an advanced mobile app designed to keep you at the heart of all your clients’ home journeys. Watch BrightMLS.com/Nestfully for the latest news and updates.
Have you checked out our updated research homepage lately? Now you can
access all of our weekly, monthly and special reports and updates in one easy location.
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SRA: Upper Providence Approves Zoning Change For Alternative Parkhouse Development Plan (Montgomery County) Upper Providence supervisors voted 4-1 to adopt a zoning amendment that will allow for the alternative plan for the development of the Parkhouse property to move forward. The 176.5-acre property is adjacent to the Parkhouse Rehabilitation and Nursing Center. It is one of the largest undeveloped properties in the county. The current zoning on the property would have allowed a minimum of 1,203 age-restricted housing units to be built. The alternative, a proposed text amendment to the zoning, would allow 600 mixed housing units, 25% of which would be age-restricted. After talks with township officials, developer Gary Berman submitted a written covenant that reduced the number of housing units to “no more than” 585 housing units and 80 acres of contiguous open space. Supervisors voted to adopt the zoning amendment at the end of a special three-hour meeting during which more than 20 people — most in opposition — spoke.
Source: Pottstown Mercury; 5/31/2024
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July 15th, July 17th, July 22nd, & July 24th (four-day course) ; 9:00 AM - 4:30pm; Real Estate Office Management | Association of REALTORS® School, Malvern
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