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Illinois REALTOR Magazine: 2015

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Notable New Laws for the New Year

Illinois REALTOR® Magazine | January 2015

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January 2015


The calendar for the 2015 spring session of the General Assembly is now available www.ilga.gov
 
Jan. 19-22 - IAR Public Policy Meetings, Embassy Suites, East Peoria
 
April 14 - Capitol Conference, Springfield
 
June 15-16 - IAR Business Meetings, Springfield
 
Oct. 5-6 - IAR Business Meetings, Oak Brook Hills

Who are Today's Buyers and Sellers?

Illinois REALTOR® Magazine | January 2015

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January 2015


 

2014 Housing Market Conditions and a Look Ahead to 2015

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January 2015


“Sales growth did not match the amazing numbers in 2013, but the growth in both sales and prices continued to be positive in both Chicago and Illinois. Robust job growth has resulted in more upbeat consumer sentiments about the economy.
 
“The forecasts suggest both positive growth for sales and prices in 2015 but with a moderation in the growth of prices and a slight acceleration of sales rates compared to 2014.”— Geoffrey Hewings
 
 
 

Looking Out for Commercial Real Estate

Illinois REALTOR® Magazine | January 2015

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January 2015


 

Get More Time Out of Your Day

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January 2015


Stop multitasking and other time management tips

Ashton Gustafson, a successful Texas REALTOR® and real estate industry speaker, shared some of his time management tips at the 2014 IAR Fall Conference & Expo. Here are a few more:
 
  • Don’t check email before 11 a.m. and only check it three times a day.
  • Plan your days in advance. Time blocking is essential for greater effectiveness and efficiency. Tell your day where it is going or it will tell you.
  • Don’t multitask. Studies have shown that multitasking can actually hurt your effectiveness. Instead bring laser-like focus to what you do.
  • Make sure everything you do builds, establishes or polishes your relationships. This is a relationship-driven business and your goals must always point to managing your sphere of influence.
 

Goal-Setting Victories

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Making it in real estate can be tough.
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January 2015


 

Taking a Broad View of the World and the Real Estate Industry

Jim Kinney thinks big when it comes to real estate, whether it’s the luxury properties he sells in Chicago or his interest in global real estate and the need to promote Illinois to international investors and buyers.
 
Now Kinney, vice president of luxury home sales at Baird & Warner in Chicago, is bringing that perspective to the Illinois Association of REALTORS® as he leads the association as the 2015 s

Use Your Membership to Your Full ‘Ad’vantage

Don’t be in such a hurry to close your next deal that you hurt your professional image, lose valuable time or put a dent in your wallet. Use the resources available to you as a REALTOR® to prevent mistakes in your advertising and resulting complaints by clients or fellow IAR members.

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January 2015


Excerpts of Code of Ethics worth noting when it comes to advertising

 
Whether it’s been awhile since you read the NAR Code of Ethics or you’re new to the business, several parts of Article 12 apply to advertising. Please take a look.
 
Introduction 
REALTORS® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing and other representations. REALTORS® shall ensure that their status as real estate professionals is readily apparent in their advertising, marketing and other representations, and that the recipients of all real estate communications are, or have been, notified that those communications are from a real estate professional. 
 
Sample Standards of Practice
12-1 – REALTORS® may use the term “free” and similar terms in their advertising and in other representations provided all terms governing availability of the offered product or service are clearly disclosed at the same time. 
 
12-4 – REALTORS® shall not offer for sale/lease or advertise property without authority. When acting as listing brokers or as subagents, REALTORS® shall not quote a price different from that agreed upon with the seller/landlord. 
 
12-5 – REALTORS® shall not advertise nor permit any person employed by or affiliated with them to advertise real estate services or listed property in any medium (e.g., electronically, print, radio, television, etc.) without disclosing the name of that REALTOR®’s firm in a reasonable and readily apparent manner. This Standard of Practice acknowledges that disclosing the name of the firm may not be practical in electronic displays of limited information (e.g. “thumbnails”, text messages, “tweets”, etc.). Such displays are exempt from the disclosure requirement established in the Standard of Practice, but only when linked to a display that includes all required disclosures.
 
12-7 – Only REALTORS® who participated in the transaction as the listing broker or cooperating broker (selling broker) may claim to have “sold” the property. Prior to closing, a cooperating broker may post a “sold” sign only with the consent of the listing broker. 
 
12-8 – The obligation to present a true picture in representations to the public includes information presented, provided or displayed on REALTORS®’ websites. REALTORS® shall use reasonable efforts to ensure that information on their websites is current. When it becomes apparent that information on a REALTOR®’s website is no longer current or accurate, REALTORS® shall promptly take corrective action.
 
12-9 – REALTOR® firm websites shall disclose the firm’s name and state(s) of licensure in a reasonable and readily apparent manner. Websites of REALTORS® and non-member licensees affiliated with a REALTOR® firm shall disclose the firm’s name and that REALTOR®’s or non-member licensee’s state(s) of licensure in a reasonable and readily apparent manner.
 
Find the full Code of Ethics here: www.realtor.org/code-of-ethics
 

Hot Topics from the IAR Legal Hotline in 2014

Illinois REALTOR® Magazine | January 2015

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January 2015
 
 

 

Got a legal question? 

The IAR Legal Hotline is the Designated REALTOR®/managing broker’s go-to source for legal information. 
 
Phone: 800.952.0578
Hours:  9 a.m. to 4 p.m., Monday 
through Friday
 
Got a legal question on transactions? 
Call the IAR Transaction Helpline.
 
Phone: 844.647.3833
 

Need help resolving a dispute with a REALTOR®?

The Illinois Association of REALTORS® (IAR) has a Consumer Help Line to try and resolve questions relating to real estate transactions.
 
Help Line: 217.529.2600 
8:30 a.m. to 4:30 p.m. Monday through Friday