You are currently browsing the category archive for the ‘National Association of REALTORS®’ category.
Have you ever walked in the shoes of a homebuyer facing discrimination? Fairhaven, the National Association of REALTORS® fair housing simulation for REALTORS®, uses the power of storytelling to help members identify and address discriminatory practices in real estate.
Visit the fictional town of Fairhaven and work against the clock to sell homes while confronting realistic scenarios of discrimination in the homebuying process. Throughout the simulation receive actionable feedback that you can apply to your daily business interactions.
The training also includes powerful testimonials demonstrating the impact of housing discrimination in real people’s lives. Hold yourself accountable and make sure you’re adhering to fair housing laws by exploring the town of Fairhaven.
Get started now and complete the training HERE.
To learn more, visit nar.realtor/fairhaven.
The Silicon Valley Association of REALTORS® (SILVAR)has formed a new partnership with the Silicon Valley LGBTQ+ Real Estate Alliance. A Memorandum of Understanding between the local REALTOR® association and the LGBTQ+ Real Estate Alliance local chapter was approved by SILVAR’s Board of Directors at its meeting on Wednesday, June 22, 2022. The collaboration will allow both groups to identify opportunities that cultivate LGBTQ+ leaders and mobilize members in support of mutually beneficial federal policies, among other pro-LGBTQ+ and real estate industry initiatives.
“SILVAR has long championed homeownership for all, and this includes the LGBTQ+ community. We’re proud to announce our partnership with the Silicon Valley Alliance as we celebrate Pride Month in June and work toward initiatives that will benefit the real estate industry and our communities as a whole,” said SILVAR President Brett Caviness.
Homeownership in the U.S. is currently around 65%, while LGBTQ+ homeowner rates are lower, at about 49%. The LGBTQ+ community continues to face housing discrimination and does not feel they are welcome in certain communities where they would like to live. Nearly half of renters do not pursue homeownership due to fears of discrimination.
The National Association of REALTORS® amended its Code of Ethics in 2011 and 2014 to ensure REALTORS® uphold housing protections for members of the LGBTQ+ community. NAR has worked with the Department of Housing and Urban Development as it has reinforced its Fair Housing Act to prohibit discrimination based on sexual orientation and gender identity.
“SILVAR’s partnership with The Alliance is in line with NAR’s core values to lead change while advancing diversity and inclusion,” said SILVAR CEO Paul Cardus. “SILVAR and Silicon Valley LGBTQ+ Real Estate Alliance have a shared commitment in protecting private property rights and advancing the American Dream of homeownership for all.”
“The Silicon Valley LGBTQ+ Real Estate Alliance is grateful for the partnership and support SILVAR has offered us without hesitation,” said Jessa Walsh, Silicon Valley LGBTQ+ Alliance president. “Homeownership is the single most fundamental building block for creating long-term and generational wealth. It’s a challenging goal for anyone, especially in Silicon Valley. It’s our goal through the Alliance to ensure no one in our community experiences additional barriers in their pursuit of homeownership based on who they love or how they identify.”
Silicon Valley LGBTQ+ Real Estate Alliance vision is to create a world free of housing discrimination. “We believe it is imperative to educate ourselves, our agents, and our staffs on how to work with the LGBTQ+ community and ensure there is an inclusive space for everyone within our real estate industry,” said Walsh.
Every April, REALTORS® commemorate the passage of the Fair Housing Act of 1968 to remind every American that all persons have equal access to housing and that fair housing is not an option; it is the law.
“Homeownership is the largest single contributor to intergenerational wealth for American families, but it has not been accessible to all Americans on equal terms. Fair housing and equity issues are still prevalent in California,” says Brett Caviness, president of the Silicon Valley Association of REALTORS®.
According to the California Association of REALTORS®, housing affordability for white/non-Hispanic households fell from 38 percent in 2020 to 34 percent in 2021. Seventeen percent of Black and Latino households could afford a median-priced home, down from 19 percent and 20 percent in 2020, respectively.
Last year, Gov. Gavin Newsom signed into law three C.A.R.-sponsored bills and two fair housing bills that require implicit bias training for real estate professionals, address the supply and affordability challenges that disparately impact people of color and address appraisal bias.
“A home seller, home seeker, and real estate professional all have rights and responsibilities under the law,” says Caviness.
A home seller or landlord cannot discriminate in the sale, rental and financing of property on the basis of race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity. They cannot instruct the licensed broker or salesperson acting as their agent to convey any limitations in the sale or rental because the real estate professional is also bound by law not to discriminate.
Buyers or renters have the right to expect:
- housing in their price range made available without discrimination.
- equal professional service.
- the opportunity to consider a broad range of housing choices.
- no discriminatory limitations on communities or locations of housing.
- no discrimination in the financing, appraising, or insuring of housing.
- reasonable accommodations in rules, practices and procedures for persons with disabilities.
- non-discriminatory terms and conditions for the sale, rental, financing, or insuring of a dwelling.
- freedom from harassment or intimidation for exercising their fair housing rights.
Under the REALTOR® Code of Ethics, REALTORS® cannot deny equal professional services to any person for reasons of race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity. REALTORS® cannot abide by a request from a home seller or landlord to act in a discriminatory manner in a sale, lease or rental.
If you suspect discrimination, you may file a complaint at https://www.dfeh.ca.gov/.
In Silicon Valley, where inventory is at an all-time low and interest rates are rising and competition for home is fierce, many homebuyers feel dejected. Many feel they can never own a home in the region. Silicon Valley Association of REALTORS® President Brett Caviness is one to say, “Never say never.”
“It may seem bleak because of the tough competition, but I’ve known first-time homebuyers who have succeeded in purchasing their first home. If that’s your goal, I would never give up trying,” says Caviness.
Below are some tips Caviness provides when searching for a home in this competitive market:
1. Find a REALTOR® you can trust. It is critical that the agent you choose is both skilled and a good fit with your personality.
“Not everybody knows there is a difference between a REALTOR® and a real estate agent. REALTORS® are members of the National Association of REALTORS® and must abide by a Code of Ethics. They are held to a higher standard of conduct and required to undergo additional training in current business practices, unlike other real estate licensees,” says Caviness. “A local REALTOR® can provide the vital market pulse, network of connections, and expert insight and skills needed not only to craft a compelling offer, but to get it accepted.”
2. Get your ducks in a row. Examine your budget, get your finances in order with adequate funds that are readily accessible. Make sure you have an excellent credit rating and getting pre-approved by a lender so you know how much you can afford.
Pro Tip: “Pre-approval with underwriting goes a step further than getting prequalified or even a standard preapproval because your lender will commit in writing to fund your loan pending a successful appraisal of the home and a few other conditions. This enables you to move quickly and make an offer that is not contingent upon obtaining financing,” explains Caviness.
3. Identify desired neighborhoods and your wants versus needs. Your REALTOR® can help you identify homes that meet your needs but may be in a location you did not yet consider, or have features you were not initially thinking of.
“Accept that no house is ever perfect. Focus on location and the things that are most important to you and let the minor stuff go. Certain wants, such as stainless appliances or hardwood floors, can be added later, but families with children may want to take into account the school district, number of bedrooms, and a decent sized backyard. These things cannot be addressed later,” says Caviness.
4. Be prepared to act quickly. Homes are not staying in the market long, so when a house that is in your budget and checks off many of your needs, be ready to submit an offer quickly, or you could risk missing out on the home altogether.
5. Bid competitively and limit contingencies. In a seller’s market buyers need to put forward their highest offer from the very beginning, or they are likely to lose out on the home.
“Don’t expect a discount. In San Mateo and Santa Clara counties it’s a ‘play to win’ market where buyers are paying over asking,” says Caviness. “With that said, don’t get caught in a buying frenzy either. Just because there is competition doesn’t mean you should just buy anything. After you’ve seen enough homes, you’ll feel comfortable going for the one that feels right.”
Caviness adds in multiple bidding situations it is advisable to limit contingencies and think what could be compelling to offer the seller like a quick close, or a period where they may stay in the home after the sale. “Be flexible and remove unnecessary contingencies. Inspections are necessary, but you may lose the bid negotiating on minor items you can replace or repair later. Now is not the time to be picky.”
Silicon Valley Association of REALTORS® (SILVAR) 2022 president, Brett Caviness, is one of the youngest REALTORS® to assume a REALTOR® association’s top leadership role. Like many millennials, Caviness, who is a REALTOR® with Compass, is reshaping the industry, so it is more in touch with the digital world; but more than that, he wants SILVAR REALTORS® to benefit from professional development and be a voice for their clients.
As president of SILVAR, Caviness wants to raise professional standards, help agents better serve their clients and community, and focus on homeownership rights. “I want to continue building member engagement through virtual and in person events and classes, and by delivering video content to our members. I want to enrich our REALTORS® community by focusing on diversity, equity and inclusion through strengthening involvement with affiliated organizations, committees, and overall member engagement,” says Caviness. “I also want to focus on recognizing and elevating the service our members are already doing all year and provide unique opportunities for REALTORS® to contribute to our local community and our Realtor community.”
A native of Iowa, Caviness graduated in 2011 with a bachelor’s degree in Communication Studies and a minor in real estate from the University of Northern Iowa. While in college he earned his real estate license and sold a few homes. In 2012, Caviness moved to Palo Alto and as soon as he got his California real estate license, he hit the ground running.
In 2017, at the age 29, Caviness had an individual sales volume of $19.3 million and 16 individual transaction sides. The following year, he was named one of 50 finalists nationwide to REALTOR® Magazine’s 2018 Class of 30 Under 30.
Early into his career, Caviness strived to be a leader in organized real estate. Before becoming 2021 president-elect, he joined SILVAR’s Menlo Park-Atherton District Council and served as the district’s chair and as California Association of REALTORS® Region 9 director in 2015. He joined the Young Professionals Network and taught classes at SILVAR on how agents can use video to market themselves and their listings. In 2016, he received the SILVAR President’s Award for his contributions to the association.
“I like being involved, contributing, being part of something bigger and giving back,” says Caviness.
Real estate is a hard business, says Caviness. He attributes his success to his personal desire and drive to succeed, and the fact that he did not have a safety net to fall back on. He learned the importance of customer service at an early age – delivering newspapers, working at Subway and Dairy Queen, and selling tickets to games in college. When someone asks if he is available, he does not answer “Sure”; he answers, “Absolutely!”
Now, more than ever, Caviness says REALTORS® need to go back to basics, take education courses, know the data, establish a relationship of trust with their clients, and be their voice.
“The clearest path to success is helping others, whether it is over the phone or meeting them in person. We need to make sure our clients know we’re available for them,” says Caviness.
The National Association of REALTORS® kicked-off its first-ever hybrid 2021 REALTORS® Conference & Expo in San Diego this week. The conference was attended by thousands of REALTORS® nationwide and over 300 International REALTOR® Members from 43 countries. The event included numerous education sessions, state leadership and economic forums, and global meetings, one of which highlighted SILVAR’s role as a NAR Ambassador Association. The Silicon Valley Association of REALTORS® (SILVAR) was appointed NAR’s Global Ambassador Association to the Philippines in 2013 and has been successful in fostering a relationship with the Chamber of Real Estate & Builders Associations (CREBA) in the Philippines.
(IRMs)At the Global Alliances Advisory Board meeting, Vicky Silvano, NAR Global Ambassador to the Philippines, and Rose Meily, SILVAR public affairs & communications director, delivered a presentation on collaboration between NAR Global Ambassadors and Ambassador Associations, and their partner/cooperating associations in other countries. Silvano, who is a REALTOR® based in Chicago, stressed the importance of communication, collaboration and consistency between the global ambassador and the two associations.
Meily stressed the importance of staying in touch with the global ambassador and CREBA either via email, text or in person. She shared ways SILVAR has successfully partnered with CREBA. These include hosting NAR International REALTOR® Members (IRMs) from CREBA during their visits to Silicon Valley and many global programs which the SILVAR Global Business Council has offered live and virtually during the pandemic for SILVAR members and CREBA IRMs. The most recent event was SILVAR’s virtual trade mission to Silicon Valley in August.
READ MORE HERE
Nearly 60 members from the Silicon Valley Association of REALTORS®, the Philippine Chamber of Real Estate & Builders Associations, Inc. (CREBA), the Filipino American Real Estate Professional Association (FAREPA) and other guests joined SILVAR’s virtual trade mission to Silicon Valley yesterday. The program, hosted by SILVAR’s Global Business Council (GBC), took participants from the Philippines virtually on a Philippine Airlines plane to the U.S., landing in San Francisco and spanning top spots in the heart of Silicon Valley, from Apple, LinkedIn, Facebook, to Google.
Welcoming trade mission participants to the region was GBC Chair Atsuko Yube and SILVAR CEO Paul Cardus. Evangeline (Vangie) Yia, CREBA vice president of International Affairs, said CREBA members were happy for the opportunity to join the trade mission. Among those joining the trade mission were Philippine Real Estate Commissioner Eduardo Ong and Andy Mañalac, CREBA vice president for Housing Affairs.
SILVAR is the National Association of REALTORS® Ambassador Association to the Philippines and CREBA is its partner association there. Yube said few agents from the Philippines have been able to travel abroad and their country has been closed to foreigners due to the seriousness of the COVID-19 pandemic there. The virtual trade mission gave Philippine International REALTOR® Members (IRMs) a chance to learn about Silicon Valley’s housing market without having to physically travel here. It was also an opportunity for SILVAR members to network, get to know other agents from the Philippines, and build relationships.
The trade mission program included an overview of the housing markets of San Mateo and Santa Clara counties by Michelle Ronco, senior product marketing manager with Aculist, a subsidiary of MLSListings, SILVAR’s multiple listing service. Ronco showed charts illustrating the market trends through the years and that showed momentum in the market despite the pandemic.
MLSListings Director of Outreach Mark Messimer then explained what an MLS is and the services it provides its subscribers. The Philippines does not have an official MLS system. The IRMs were curious and asked if they could join MLSListings. Messimer said only REALTORS® whose brokers are members of the MLS can be members of MLSLIstings, but access to IRMs is something that can be explored.
Joanne Fraser, president of SILVAR, then walked guests through the real estate transaction process in Silicon Valley, highlighting the many forms, inspection reports, disclosures and advisories that REALTORS® and their clients need to review thoroughly. She explained the importance of disclosures and the difference between escrow and title insurance, which Commissioner Ong noted are only used in the Philippines when dealing with very large transactions. Fraser then took participants on a virtual tour of a Los Altos condominium, which had just sold at 5 percent over asking at a price of $1,676,000, setting a record for the building.
Vicky Silvano, NAR Global Ambassador to the Philippines, explained how IRMs can work with SILVAR REALTORS® and how to use international referral forms from NAR. She noted being a Certified International Property Specialist (CIPS) can give REALTORS® an edge in global real estate. An open forum for sharing of information and Q & A followed the presentations. The program then ended with a virtual tour of the Google complex in Mountain View.
The Silicon Valley Association of REALTORS® (SILVAR) will be hosting a virtual trade mission to Silicon Valley on Thursday, August 12, from 5:30-7 p.m. Since international travel has not opened in all countries, many REALTOR® associations have found a virtual trade mission helpful for learning about other countries. Joining SILVAR’s virtual trade mission will be members of the Philippine Chamber of Real Estate & Builders Associations (CREBA), International REALTOR® Members (IRMs) and guests from other parts of the world.
Few people from the Philippines and other countries have been able to travel abroad and their country has been closed to foreigners due to the seriousness of the COVID-19 pandemic there. This virtual trade mission will give real estate agents a chance to learn about Silicon Valley’s housing market without having to physically travel here. It will also be an opportunity for SILVAR REALTORS® to network, get to know other agents from the Philippines and other countries, and build relationships.
SILVAR is the National Association of REALTORS®’ Ambassador Association to the Philippines and CREBA is SILVAR’s partner association there. The program also will be a good opportunity for SILVAR members to meet agents from the Philippines and other countries and expand their real estate business globally.
The program agenda will include:
- Welcome address by SILVAR Global Business Council Chair Atsuko Yube
- Aculist Senior Product Marketing Manager Michelle Ronco will provide the latest update on the local housing market and places that are especially hot.
- MLSListings Director of Outreach Mark Messimer will educated IRMs on functions of a multiple listings service since the Philippines and many other countries do not have the service.
- SILVAR President Joanne Fraser will educate guests on how real estate transactions are conducted in Silicon Valley.
- NAR Global Ambassador to the Philippines Vicky Silvano will speak on how IRMs can collaborate with SILVAR REALTORS® in the global marketplace, including the benefits of a Certified International Property Specialist (CIPS) designation.
- Small breakout sessions will give attendees the opportunity to network, get to know each other, and build relationships.
For more information about the virtual trade mission, contact rmeily@silvar.org.
June is National Homeownership Month, a time of year when housing advocates highlight the importance of homeownership and its impact upon the lives of American families, local neighborhoods, and the national economy. The Silicon Valley Association of REALTORS® (SILVAR) and its nearly 5,000 members engaged in the real estate business on the Peninsula and in the South Bay are staunch advocates for homeownership and homeowners in Silicon Valley.
“Homeownership is an investment in the community,” said SILVAR President Joanne Fraser. “When more people own homes, everyone benefits. For most American families, their home is their largest investment. Homeownership builds wealth and serves as the cornerstone of health and security.”
Homeownership provides tax advantages and the opportunity to build equity. Moreover, homeownership provides social benefits for families and communities. According to the National Association of REALTORS®, homeowners move far less frequently than renters, making it easier to build community networks and support systems. This results in more stability for families, better school performance by children living in owned homes, a higher rate of high school graduation and higher earning, better physical, psychological and emotional health outcomes, a higher membership in voluntary organizations, and greater social interaction in their communities.
Fraser noted during the height of the coronavirus pandemic, having a home became more important to many families than ever before. “The home became a place to live and work as many companies allowed their employees to work from home. This ultimately contributed to the state’s current housing market boom.”
At a recent market data presentation for local associations, California Association of REALTORS® Vice President and Chief Economist Jordan Levine said the state’s housing market boom is a double-edged sword. Levine indicated California is the second worst state for overcrowded housing and fifth lowest homeowner vacancy ratio in the nation.
In April, California’s median price hit over $8 million. Levine said while good for sellers, this has impacted housing affordability. “Buyers are falling farther and farther behind.”
Fraser is hopeful additional help may be on the way. “The state senate’s ‘Building Opportunities for All’ housing package is expected to help expedite building of more housing, create jobs and stimulate economic development projects. President Joe Biden’s First Down Payment Homebuyer Tax Credit proposal could be significant in aiding first-time homebuyers. With home prices rising higher than ever, any down payment assistance helps families looking to buy.”
Silicon Valley Association of REALTORS® says ... 