NAR to raise your dues by 25%

NAR approves $30 annual dues hike for 2019… from $120 to $150 per year!

WASHINGTON — After a short debate, the board of directors of the National Association of Realtors has approved a proposed $30 increase in annual dues for 2019, a 25 percent jump from $120 to $150 per year and an additional $39 million per year for the 1.3 million-member trade group.

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Opendoor will now let any builder sell new homes through its ‘trade-up’ program

The fast-growing startup says its program replicates the process of selling an old car and buying a new one, but for homes

Opendoor will extend its home trade-up program beyond its pilot program with Lennar to all builders, the iBuyer announced Wednesday.

Four-year-old Opendoor — whose main business is buying and reselling homes directly online from homeowners in need of a quick transaction — launched a pilot home trade-up program in Las Vegas with Lennar in early 2017. Homeowners in the city would sell their homes to Opendoor and “trade up” for one of Lennar’s move-in-ready homes.

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What the Dodd-Frank rollback means for real estate

Economists say loosing restrictions could help solve the industry’s low inventory problem, but it also raises certain risks

Congress on Tuesday passed reforms to the Dodd-Frank Act, the massive financial reform bill enacted under President Obama in the wake of the 2008 crisis, a move that could have a serious impact on the real estate and mortgage lending sectors. Economists said the rollback of the Dodd-Frank regulations could lend a hand toward partially solving the industry’s inventory crisis — but there are some potential landmines.

Small- and medium-sized banks — those with assets under $250 billion — will no longer be subject to so-called “stress tests” designed to gauge how well institutions fare under financial pressure, which Dodd-Frank regulations now require them to undergo. Looser restrictions, meanwhile, could fuel more small-scale construction loans, economists informed.

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NAR made $20 million from DocuSign IPO

Second Century Ventures, the venture arm of the National Association of Realtors, invested in the electronic signature provider back in 2009

WASHINGTON — When DocuSign went public last month, the National Association of Realtors got a $20 million piece of that pie, according to NAR CEO Bob Goldberg.

Goldberg is also the president of Second Century Ventures, NAR’s venture capital arm and an investor in electronic signature provider DocuSign before its initial public offering. He, along with NAR’s leadership team and other staffers, spoke at the Treasurer Budget Forum at NAR’s midyear conference on Thursday.

SCV, a wholly-owned subsidiary of NAR, got $43.8 million for selling 28 percent of its DocuSign shares in the IPO, after initially investing $5 million, NAR First Vice President Vince Malta said at the forum.

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The government wants to know what’s up with real estate pocket listings

NAR’s Melanie Wyne and industry attorney Mitch Skinner discuss federal regulators’ concerns ahead of June real estate competition workshop

WASHINGTON — Pocket listings and state regulations regarding dual agency and minimum service requirements may be on the agenda at the real estate competition workshop to be held by Department of Justice and the Federal Trade Commission on June 5.

That’s according to Melanie Wyne, the National Association of Realtors’ senior policy representative who spoke at the Council of Multiple Listing Services (CMLS) Brings It To The Table event Tuesday, held in conjunction with NAR’s annual week-long conference, the Realtors Legislative Meetings and Trade Expo, a.k.a “Midyear.” In conversations with the DOJ and FTC, NAR is trying to get a handle on the issues they want to cover and the questions they want to ask at the workshop, Wyne said.

“We’ve been able to identify discrete issue areas that may be of concern to them. They’re asking a lot of questions about pocket listings,” as well as state regulations regarding dual agency and minimum service requirements, Wyne told about 200 attendees at the event.

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Upstream launches… hopes to service 250,000 agents by the end of 2018

Upstream, the MLS data management system designed for agents, is finally on-line after long 2 year wait

Upstream, an online platform for real estate data management, officially announced that it has launched today after a long development period, two years behind its original goal.

“You don’t have to look very far into any news feed to find a story of data breaches, unauthorized or misuse of data or entities gaining disproportionate gains on the sale of data,” said Dan Elsea, Upstream’s chairman in a statement.

“Our industry, of course, is based on data, so it is imperative that each broker and real estate practitioner be able to manage and control their data,” he added. “Upstream provides that opportunity for our industry, and it is wonderful to have our rollout underway.”

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Strange bedfellows: NAR and Zillow agree on antitrust, sort of

A white paper published last month has the trade group and tech company both supporting the current MLS structure, though for different reasons

There are few entities in the real estate industry that loom larger than real estate giant Zillow Group and 1.3 million-member trade group the National Association of Realtors. And while they have sometimes been at odds over the years, when it comes to real estate competition they seem to agree on one thing: If it ain’t broke, don’t fix it.

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