Weekly 7-2-13

Illinois REALTOR® Weekly Connection

Happy Fourth of July from IAR

The Illinois Association of REALTORS® wishes you a safe and happy Fourth of July holiday. The IAR office in Springfield will be closed Thursday in observance of the holiday. The IAR Legal Hotline will be closed July 4 and 5and will reopen onMonday, July 8

Industry News & Trends

State Fire Sprinkler Mandate Could Slam Homeowners with Thousands in Extra Costs

Proposed changes to the state's Life Safety Code would mandate fire sprinkler systems in all new single- and two-family residential construction, driving up housing costs.IARbuzz has the details about why IAR opposes the measure and what happens next.

Pending Home Sales Hit Six-Year High

U.S. pending home sales rose in May to the highest level since 2006, signaling that rising interest rates may be prompting more consumers to get off the fence and buy a home while affordability is still high, NAR reports. Read more from NAR and watch a video with NAR Chief Economist Lawrence Yun.

Freddie Mac: Mortgage Rates Jump to Highest Level Since 2011

Mortgage rates continued to climb with a 30-year, fixed rate averaging 4.46 percent, but rates are still low historically. 

Fewer First-Time Buyers Entering the Housing Market

First-time home buyers are making up a smaller share of the market — 28 percent of home purchases in May compared to 34 percent a year ago, NAR reports.

Social Media and Real Estate

Social media continues to impact the real estate brokerage business. In the latest D.R. Legal News, IAR Chief Legal Counsel Steve Bochenek writes about the need to understand the interplay of social media with the Real Estate License Act, ethics rules and company policies. Read Steve's column and download last week's IAR Legal Webinar on the topic, "#What'sTrendingLegally" (login required.)

Recent IDFPR Disciplinary Actions

Read about the latest disciplinary actions taken by the Real Estate Division of the Illinois Department of Financial and Professional Regulation.

Webinar: Get Your Legal Questions Answered on July 18

The next FREE, one-hour IAR Legal Webinar is at 9:30 a.m., July 18. IAR Chief Legal Counsel Steve Bochenek and Legal Hotline Attorney Betsy Urbance will be answering your questions covering issues important to you. Send your question in advance to webinar@iar.org.

NAR Win on Supreme Court Property Rights Case

In a win for property rights supporters, the U.S. Supreme Court sided with a Florida landowner in a case involving property rights and land-use permits. NAR helped develop and signed on to an Amicus Brief supporting the landowner.  Read more from NAR.

IAR Offering Convenient, Interactive Licensing Webinars

Complete the licensing courses you need without leaving home. The IAR Licensing & Training Center is offering a state-of-the-art, alternative classroom format that will appeal to those who want the convenience of learning at their own home or office yet want the interactive experience of a webinar. Find a list of upcoming pre-license, post-license and instructor webinars.

Maximize Your Marketing Opportunities

Missed last week's Lunch and Learn webinar, " Maximize your Marketing Opportunities with Strategies that Make More Sales," with Terri Murphy? IAR members can download a recording of the one-hour webinar (login required.) ComingJuly 31: John D. Reyes will share steps to building greater business value.

What's Your Niche?

Have you found success targeting a particular niche real estate market? Do you cater to senior buyers, focus on luxury properties or work the commercial market? Send us your tips and ideas for developing a niche and you could be featured in an upcoming IAR publication. Do you have a unique or emerging niche? We want to hear about that too!

Snapshot: International Sales Account for 6 Percent of Market

International buyers of U.S. properties generated $68.2 billion in the 12 months ending March 2013, marking a $14 billion decline from the year before, according to NAR's 2013 Profile of International Home Buying Activity.


July 4

Illinois YPN Non-Event benefiting Homes for Our Troops. RSVP at ypn.illinoisrealtor.org.

October 1-3

IAR Fall Conference & Expo in St. Charles. The speaker line-up has been released along with session details for the IAR Fall Conference in St. Charles. Click here for speaker details and save these dates for The Power of R, Oct. 1-3.

December 2-5

Registration Now Live for the Graduate REALTOR Institute in Itasca.Visit www.illinoisrealtor.org/GRI and register today. The program comes back to Chicagoland this December with Courses II, III and Grad.