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Florida Realtor magazine/Users/adamp/Desktop/Stuff for FAR/Magazine Assets/OCT08/images/Buzz
Your Magazine: Only Better

The moment has arrived! You’re looking at the newly tweaked Florida Realtor® magazine. We took your suggestions and worked some creative magic to give you more of the information you seek.

Believe us, we heard you loud and clear: Don’t ever change! And, we listened (for the most part!) and kept our most popular departments. We also added new departments on popular topics and tweaked the design to make it easier for you to read.

Here’s what you can expect:

Upfront This scanable section will be your go-to source for real estate
information.

Law & Ethics All of your favorite legal information in one section plus a new ethics department.

Manage It Timely, topical tips for brokers and managers.

That’s Life From wacky listings to rockin’ Realtors, you’ll never know what you get when you flip here.

In addition, we give you interactivity by offering easy ways to find more information on floridarealtors.org.

We know you’re busy—so this new design allows you to quickly glean what you need and get back to business.

We want to hear what you think!
E-mail FLRealtor@far.org.

Short Sale Listings Stay Active
There’s another big problem with short sales. In situations where agents get multiple offers on a home, the listing still appears as active in the MLS for short sales. The explanation for this is that they’re waiting for the bank to make the decision.

So, we show the home, not knowing there’s an existing contract and perhaps many offers on it. It’s a waste of time for the buyer and the agent. Somehow this needs to be policed.

Tom Chao
Watson Realty Corp.
Ponte Vedra Beach

Short Sales: Bad for Business
Short sales are bad for business in two ways. First, buyers who want the lowest price for a home are drawn to a short sale price on a home they couldn’t normally afford. Consequently, genuine sales—homes that aren’t in preforeclosure—aren’t seen as often because buyers vie for short sale bargains. As the period in which to close on homes gets extended, cash isn’t moving, commissions are taking longer to be paid and banks have to deal with a mass of underqualified sales associates trying to make a living in a banking/mortgage area (short sales).

Second, most MLS listings for short sales don’t promise a commission. They think a statement like “50-50 commission split” will let the listing agent get out of paying a commission to the agent, and so there’s a lot of discontent over commissions.

Chris R. Marchesini
People’s Choice Realty
Tampa

Let Lenders Set Short-Sale Prices
If the listing agent determines that the sale of a home won’t satisfy the loan, he or she should contact the bank in first position and notify them that the homeowner wants to market the house for sale, and that the transaction will constitute a short sale. The bank can then do their BPO [broker price option] and set the “market price.” Imagine that. In a matter of seven to 10 days, we now have a property on the market, in the MLS, advertised for sale at a price that we know the bank will accept.

John C. Davison
The Davison Real Estate Group
Longwood