Suburban West Realtors Association
Suburban West Weekly
November 18th, 2020
  • NAR Releases 2020 Profile of Home Buyers and Sellers Report

  • NAR Professional Standards Committee Recommendations

  • Local Market Statistic Reports Published for October

  • Know the Rights of a Renter in PA

  • The Power of Diversity: Personal Reflections on Identity and the Benefits of Inclusion

  • Realtors® Applaud FHA Effort to Expand Private Flood Insurance Options

  • Calendar of Events 


NAR Releases 2020 Profile of Home Buyers and Sellers Report

Last week the National Association of Realtors® released its 2020 Profile of Home Buyers and Sellers, a survey of people who purchased or sold from July 2019 to June 2020. The profile report has been a leading industry source of trusted insight into consumer behavior for nearly four decades. As in the past, this year’s survey measures the demographic characteristics of home buyers and sellers, buyers' and sellers’ experience in the home transaction process, as well as market characteristics including the use of real estate agents. 
Given the extraordinary circumstances brought about by the COVID-19 pandemic, the NAR Research Team also compared the data from those who bought and sold before April 2020 with data from those who bought between April and June to uncover effects of the pandemic on the purchase and sale of homes. The researchers found a number of interesting differences including an increased interest in multigenerational living; growth in certain buying segments, including unmarried buyers, Hispanic/Latino buyers, and Asian/Pacific Islander buyers; and greater likelihood of using a family member or friend as their agent, possibly because of a desire to limit contacts during the pandemic.
Thanks to the 2020 Right Tools Right Now Program this Digital Download is FREE to Association members!
Click here to read the full report. 

NAR Professional Standards Committee Recommendations

On November 13th, the NAR Board of Directors approved recommendations from its Professional Standards Committee to broaden the applicability of Article 10 to include discriminatory speech and conduct.
At the heart of the approved recommendations is a new Standard of Practice 10-5 “Realtors® must not use harassing speech, hate speech, epithets or slurs based on race, color, religion, sex, handicap, familial status, national origin, sexual orientation or gender identity.” 
A related change Policy Statement 29 of the NAR Code of Ethics and Arbitration Manual broadens the scope of Article 10 as follows: “A Realtor® shall be subject to disciplinary action under the Code of Ethics with respect to all of their activities.”
According to NAR’s FAQ on this subject, “Standard of Practice 10-5 directly flows from the requirement to not deny equal professional services or be parties to a plan to discriminate. Specifically, disparaging a particular protected class is evidence of one’s inability to treat them equally. In addition, bias against protected classes revealed through the public posting of hate speech could result in REALTORS® not taking clients from certain protected classes or not treating them equally, which would lead to violations of the Fair Housing Act due to overt discrimination or disparate impact.”
More resource and training materials will be available soon. 

Local Market Statistic Reports Published for October

Suburban West continues to help members communicate the latest real estate market conditions in the area with a set of Monthly Residential Market Reports for area school districts and counties. The Association recently that these monthly reports now cover all districts in Montgomery County, as well as all districts in Chester, Delaware and Philadelphia counties. Select districts in Berks County are available too.
Access the most recently published monthly reports for October here.
Please note that an assortment of reports are also available to all Bright MLS members at Once logged in to the site, click the Market Research tab to access the various reports. If you have questions or requests, please contact Steve Farace.

Know the Rights of a Renter in PA

The Pennsylvania Housing Equality Center is hosting webinar trainings throughout the months of November and December. This webinar will teach renters the basics of state and federal fair housing law and PA Landlord-Tenant Law. COVID-19 protections will also be covered. The sessions are geared toward current or prospective tenants. Realtors® who represent tenants may benefit from this education as well. Click here for registration information for yourself or share with your tenant or landlord clients. 

The Power of Diversity: Personal Reflections on Identity and the Benefits of Inclusion

Suburban West and the Montgomery County Association will jointly host The Power of Diversity: Personal Reflections on Identity and the Benefits of Inclusion – a virtual interactive workshop designed to bring awareness to the impact that discrimination has on all people on December 9th; 10:00am-11:30am
A panel of Realtors® will begin by sharing their stories of micro-aggression; discrimination; and discovery that differences exist. By sharing our stories, we can begin to have the hard conversations that can lead to more diversity and inclusion in our workplace and our communities. Attendees will be invited to share their own stories. Whether you share publicly or choose to privately consider how your story fits the narrative, consider a time when you were the subject of a micro-aggression or discrimination. How did it happen? How did it feel? What did you do?
Click here to register to receive the connection information (once logged in, scroll over Events and then click on Upcoming Meetings). Questions? Contact Paula Tansey.

Realtors® Applaud FHA Effort to Expand Private Flood Insurance Options

The National Association of Realtors® applauded steps taken by the Federal Housing Administration (FHA) to make more private flood insurance options available to U.S. consumers. The FHA proposal would allow private insurance to be used provided it meets the agency's definition, harmonizing with recent federal laws and pro-consumer industry practices. Current FHA regulations, established in 1999, prevent homebuyers with FHA-insured mortgages from obtaining flood insurance from any source other than the National Flood Insurance Program. Read more here.
For more news items from the Suburban Realtors® Alliance, click here to access their Weekly News Briefs.
Suburban West REALTORS Association
1 Country View Road, Suite 201, Malvern PA 19355
P: 610-560-4800 | F: 610-560-4801
Association of REALTORS School
1 Country View Road, Suite 101, Malvern PA 19355
P: 610-560-4900 | F: 610-560-4801
  Equal Housing Opportunity Realtor
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