October 2022

Page 1

A FAMILY-0WNED PUBLICATION SERVING THE AUSTIN METRO AREA AND SURROUNDING CITIES VISIT US ONLINE AT REALTYLINE.US

VOLUME 27, ISSUE 6 | OCTOBER 2022

Bras For a Cause Benefiting the Breast Cancer Resource Center Auctioned Highly Decorated Bras Modeled by Male Models

Written by RIKI MARKOWITZ / Contributing Writer

Commission Transparency Should Be the Rule, Not the Exception Presorted Standard U.S.. Postage PAID Austin, Texas Paid Permit #715

You may recall back in 2019 a slew of headlines frantically fear-mongering the potential end of the residential real estate industry as we know it. Obviously, the industry has not only survived its possible downfall, but it continued on a trajectory of explosive sales and inflated prices that coincided with exceptionally low inventory. Here’s what happened: A homebuyer in California filed a class action lawsuit against the National Association of Realtors (NAR) and a slew of some of the largest global real estate companies. The plaintiff alleged that NAR and its co-defendants violated the law and, essentially, conspired to gouge consumers by inflating commissions and hindering — if not eliminating — competition. The suit stated that sellers incur an inflated cost on real estate transactions because they’re primarily responsible for paying the commission to the seller’s agent and the buyer’s agent. It goes on to say that the cost to sellers would be much lower if buyers paid a commission to their own buyer’s agents. Over the course of the lawsuit, the Department of Justice (DOJ) has asserted that NAR “put illegal restraints” on competition in the residential real estate industry by concealing commissions collected by buyers brokers, even going as far as declaring their services are free. While buyers may not pay a commission to the buyer’s broker outright, sellers typically calculate the commission into the cost of the property. The DOJ also charged that the industry made it too easy to quash competition by filtering listings based on the amount of the commission and even limiting access to listings to certain brokers and agents. Essentially, the plaintiff’s charged that if NAR committed to full transparency, compensation for brokers and agents would go down and consumers would save a lot of money. While this and additional similar lawsuits have seen their fair share of twists and turns, one big takeaway for professionals is that consumers were demanding more transparency. When a buyer or seller feels like their broker is concealing the amount of their

[Commissions continues on page 12]

2022 Theme

Celebrating Our Heros


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OCTOBER 20, 2022 - NOVEMBER 19, 2022 | REALTYLINE.US


$6500 YOUR WAY

When your client uses our preferred lender they’ll recieve $6500 towards closing costs or purchase price. Home sale must close by November 30, 2022. Cannot be combined with any other offer or incentive, with the exception of the Hero Loan. Homes by Avi reserves the right to change or cancel the offer without notice.

AVAILABLE

ADDRESS

PLAN ELEV.

SQ. FT.

BED/BATH

PRICE

QUICK CLOSE

1015 Vista View Dr 2302

1-B

1413

3 Bed / 2.5 Bath

$411,900

QUICK CLOSE

1015 Vista View Dr 1201

1-A

1413

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$399,900

QUICK CLOSE

1015 Vista View Dr 2201

2-A

1615

3 Bed / 2.5 Bath

$429,900

QUICK CLOSE

1015 Vista View Dr 2202

2-A

1615

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November 2022

1015 Vista View Dr 1101

1-C

1413

3 Bed / 2.5 Bath

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November 2022

1015 Vista View Dr 1102

1-C

1413

3 Bed / 2.5 Bath

$411,900

December 2022

1015 Vista View Dr 1001

3-A

1616

3 Bed / 2.5 Bath

$411,900

December 2022

1015 Vista View Dr 1002

3-A

1616

3 Bed / 2.5 Bath

$429,900

November 2022

1015 Vista View Dr 1102

1-C

1413

3 Bed / 2.5 Bath

$429,900

December 2022

1020 Vista View Dr 2401

2-A

1615

3 Bed / 2.5 Bath

$429,900

December 2022

1020 Vista View Dr 2402

2-A

1615

3 Bed / 2.5 Bath

$429,900

November 2022

1020 Vista View Dr 2501

2-C

1615

3 Bed / 2.5 Bath

$429,900

November 2022

1020 Vista View Dr 2502

2-C

1615

3 Bed / 2.5 Bath

$429,900

Late 2022

1020 Vista View Dr 2301

2-B

1615

3 Bed / 2.5 Bath

$429,900

For more information contact:

For a 5 min loan approval contact:

Debbie Ates

Arien Bowersock

512-801-3543

512-699-8306

Area Sales Manager

dates@homesbyavi.com

The Home Loan Expert

arien@thehomeloanexpert.com

www.homesbyavi.com Please Note: in our continuing effort to exceed our buyer’s expectations, specifications and materials may change without notice. This marketing handout is for information only and is not part of a legal contract or agreement. See your AVI Homes representative for data. Effective 9/22/21

OCTOBER 20, 2022 - NOVEMBER 19, 2022 | REALTYLINE.US

3


Austin Board of REALTORS®

"FALL" In With The Austin Board of REALTORS Fall is finally here in Central Texas, and the Austin Board of REALTORS® has everything you need to stay on top of the shifting vacation and more!

• Alaska Frontier Adventure

A REALTOR® Guide to the November Elections

• Palm Springs Dream & Drive

about candidates who plan to prioritize housing if elected. Members can find the 2022 REALTOR® Voter Guide with ABoR-endorsed candidates and information about local bond propositions on the Voter Hub webpage at ABoR.com/Vote.

A new ScratchThat Podcast with ABoR CEO & Host Emily Chenevert is BACK with Austin Mayoral candidate Kirk Watson! Hear about his stance on issues that affect the real estate industry and his plans to prioritize housing if he is elected Mayor of Austin once again in November. Listen to the most recent ScratchThat Podcast with Kirk Watson on all major podcasting platforms at ScratchPodcast.com, or watch the video at YouTube.com/AustinBoardofRealtors

AREAA Golf Tournament: of Priority Title and

4

You can support the ABoR Foundation by purchasing a raffle ticket in our 2022 Vacation Raffle. A member favorite, the ABoR Foundation Raffle allows the winner to choose between one of four incredible vacation packages, including: • Tuscany Culinary Escape

Team has been hard at work developing resources to inform agents

2022 PRESIDENT

Did you know that ABoR has its foundation focused on housing, education, and disaster relief work to solve the most pressing issues in our Central Texas community? When disasters strike, the ABoR Foundation mobilizes support from membership to contribute hundreds of hands-on hours and tens of thousands of dollars to help those in need. Since 1978, the ABoR Foundation has invested in hundreds of initiatives that have paid dividends to the Central Texas area in the form of happier people, healthier communities, and new opportunities for our fellow Texans.

housing market. Stay informed on Election Day. Also, win a dream

Elections are right around the corner. Our ABoR Advocacy

CORD SHIFLET

Support The ABoR Foundation + Win a Dream Vacation

OCTOBER 20, 2022 - NOVEMBER 19, 2022 | REALTYLINE.US

• The Best of Food & Wine Healdsburg, Sonoma Buy one ticket for $50 or five for $200 (1 FREE ticket!) by November 1 for a chance to win one of the dream getaways! Visit ABoR.com/Raffle for full details on vacation packages and how to buy your ticket.

Stay On Top of the Changing Housing Market Members have been buzzing about last month’s Market Shift Conversations Part One and are gearing up for part two on November 3! If you missed our panel of experts from part one sharing their insight on pricing strategies, staying competitive, and building buyer confidence, you can still get the recording at ABoR.com/MarketShift! During part two, we’ll have more experts on hand to discuss how to weather a market shift. They'll also discuss tactics for keeping the pipeline pumping and setting expectations for business plans in the year ahead. Save your spot now at ABoR.com/Events.

REALTOR Safety Day: and of Choose Charlie Real Estate Team


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• Minutes to shopping, dining and entertainment in downtown Lockhart • Near sports and outdoor recreation at Maple Street Park, Lockhart Soccer Complex and Lockhart State Park 602 Indian Blanket St. Lockhart, TX 78644 737-477-3030 From Hwy. 130, exit Boggy Creek Rd. heading east. Turn left on City Line Rd. and right on Maple St. to community entrance on the right.

888-KB-HOMES | kbhome.com Broker Cooperation Welcome. ©2022 KB Home (KBH). Plans, pricing, financing, terms, availability and specifications subject to change/prior sale without notice and may vary by neighborhood, lot location and home series. Buyer responsible for all taxes, insurance and other fees. Sq. footage is approximate. HOA applies. ARTIST’S CONCEPTION: Illustration may depict upgraded landscaping/options and may not represent lowest-priced homes. See sales counselor for details. AUS-564101

OCTOBER 20, 2022 - NOVEMBER 19, 2022 | REALTYLINE.US

5


Williamson County Association of REALTORS®

New Year, New Opportunities To Join A Committee We are officially into the holiday season! This is always such an exciting time of year. It includes celebrating with friends and family, enjoying numerous traditions and reflecting on the good that we have experienced over the past year. It is also a time when we start to envision what the new year will hold for us and our business. In planning for next year, be sure to set aside some time to volunteer with your local association! Central to the operation of the Williamson County Association of REALTORS® is the desire to involve its members. We have a culture of service. We believe the industry is

MICHELE SHERWOOD

2022 PRESIDENT

WCREALTORS Annual Golf Tournament: Derrick Matthews, Brandon Barger, CJ Rogers and Anthony Collins, all of StarPointe Realty Management

better when we serve together. As a member of WCREALTORS there are several opportunities to serve. The activities of our Association start at the committee or small group level. New Year, New Committees! Here at WCREALTORS we have so many amazing committees for you to serve

AmeriFirst’s Intro to Divorce Real Estate Class: Presented by David McMillan of AmeriFirst

on. From finance to events, and everything in between! Be sure to head over to www.wcrealtors. org/get-involved to further explore all of the volunteer opportunities that we have available. Don’t let the word committee fool you. These are service-oriented groups that carry out specific functions. Most committees meet once a month for an hour in a hybrid setting. Getting involved at the association level helps you to grow your network and gain more insight into the industry from fellow professionals. Committee work helps grow strong bonds with REALTORS® and affiliates alike, while building valuable tools and lifelong friendships for your REALTOR® toolbox. We are Williamson County. We Are Just North of Weird, and we’d love to see you around the Association in 2023!

"Rollingwood has been managing properties for me for over 10 years. They've done an amazing job of finding the right tenants, maintaining properties, and keeping costs down. I'm out of state and its been a great experience not having to worry or think about my biggest investment."

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WE'LL TAKE IT FROM HERE. Michael Francis, broker/owner mfrancis@rollingwoodmanagement.com

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$250.00 REALTOR REFERRAL FEE

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OCTOBER 20, 2022 - NOVEMBER 19, 2022 | REALTYLINE.US


www.austintitle.com

Congratulations Austin Title

“BEST TITLE COMPANY IN BASTROP COUNTY” 1st Place 4 Years Running

KAREN CANNON

BRITTNEY DAVIS

AVP/Branch Manager/Escrow Officer Escrow Officer Karen.Cannon@austintitle.com Brittney.Davis@austintitle.com 512-303-9633 Office 512-303-9633 Office

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110 SOUTH MAIN STREET, ELGIN, TEXAS 78621 512-412-7040 PHONE OCTOBER 20, 2022 - NOVEMBER 19, 2022 | REALTYLINE.US

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CR W EALTORS Annual Golf Tournament:

CR W EALTORS Annual Golf Tournament:

REALTOR Safety aD y

oW men’s Council eN gotiations aP nel: , and

all of Stewart Title

and all of BNT of Texas

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of Impact

CR W EALTORS TREA P C Bowling Tournament:

and

eK ler Wiliams Realty

of

n U iversity eH igth s Grand peO ning of Scott eF lder o H mes of Real Realty REALTOR Safety aD y:

Title;

of Sprout Realt,y and

of Austin of Classic Realty

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Where we make you our top Priority! Nicole.Feliciano@PriorityTitleUS.com Market Manager Cell: 512.317.6691 7600 Burnet Road, Suite 115 • Austin, TX 78757 8

OCTOBER 20, 2022 - NOVEMBER 19, 2022 | REALTYLINE.US


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the

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RealtyLine is published monthly by Caxton Publications, Inc.™ as a non-subscription publication for the more than 18k+ members of the Austin Board of REALTORS® (ABoR), the more than 1,800+ members of the Williamson County Association of REALTORS® (WCREALTORS) and the Home Builders Association (HBA) of Greater Austin. RealtyLine is a proud member of ABoR, WCREALTORS, HBA and an honorary member of WCR Austin Chapter. We are equally proud to be a Major Investor in TREPAC (2019, 2020). RealtyLine is not responsible for opinions or facts expressed by non-staff writers or for errors and any by-products in advertising or editorial copy. REALTOR® is a registered trademark. The word REALTOR® sometimes appears in this publication without the registered trademark symbol (®) to save space. Wherever the word REALTOR® appears in this publication, the registered trademark should be assumed.

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Heritage • Opening for Sale This Year • Preview Appointments Available Soon • Located in Dripping Springs off RR 12, Just One Mile North of Highway 290 and H-E-B • 1,400–3,300 Sq. Ft. Homes • Capital and Signature Series Homes Available • Future Amenity Center, Community Pool, Playground, and More

For more information or to get the first look: SalesAustin@mihomes.com mihomes.com/Heritage

contributors Riki Markowitz 2022 Presidents Cord Shiflet, Austin Board of REALTORS® Michelle Sherwood, Williamson County Association of REALTORS®

OCTOBER 20, 2022 - NOVEMBER 19, 2022 | REALTYLINE.US

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REALTOR Safety Day: of Douglas Elliman Real Estate and self defense instructor

AREAA Golf Tournament: and

University e H ights Grand Opening: of Scott Felder o H mes, of JB Goodwin REALTORS, and of Scott Felder o H mes

Global Congress Networking a H y p o H ur: of the Austin Board of REALTORS with Kuper Sothebys' International Realty

Photo Credit: Austin Board of REALTORS

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OCTOBER 20, 2022 - NOVEMBER 19, 2022 | REALTYLINE.US


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New Homes $300s - $500s + BrohnHomesAgents.com | 512-643-5400 6% Real Estate Agent Bonus Offer available only when your client closes on a home in a participating Brohn Homes community pursuant to a contract your client signs and executes on or between 9/1/22 and 9/30/22. The agent incentive is only valid on homes that close on or by 12/31/2022. All bonuses will be paid at closing. Payments of total commissions and bonuses will only be made to actively licensed Texas brokers. Bonus paid to Broker upon client’s successful closing and funding and is based on the original contract price as stated in the Purchase Agreement, excluding any Seller incentives, subsequent change orders, re-writes, or upgrades. Broker is responsible for all applicable taxes. Since seller reserves the right to modify or discontinue this program at any time without notice, please call the applicable sales center in advance to confirm that the program is still in place. Bonus/commission offer not valid for Purchase Agreements signed by buyer prior to publication of this advertisement. Commission cannot be used with any other special offers. May not be combined with any other broker bonuses or offers. Please see a Brohn Homes Sales Consultant for complete details. Clayton Properties Group, Inc. Formerly known and Qualified to do business in Texas as CMH Parks Inc. DBA Brohn Homes reserves the right to make changes to pricing, floor plans, specifications, features, dimensions, elevations, and incentives without prior notice. Stated dimensions and square footages are approximate and should not be used as representation of the home’s precise or actual size. Copyright © 2022 Clayton Properties Group, Inc. Formerly known and Qualified to do business in Texas as CMH Parks Inc. DBA Brohn Homes.

OCTOBER 20, 2022 - NOVEMBER 19, 2022 | REALTYLINE.US

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[Commissions continued from front page] commission, or even who’s responsible for paying commission, they then question what other information is being concealed. Williamson County Association of REALTOR 2022 President Michele Sherwood of Keller Williams Realty, doesn’t necessarily disagree with consumers’ concerns. “The challenge I see is that if someone's interested in purchasing a home, sometimes an agent will race out and show a property without actually sitting down, having a conversation and explaining how they get compensated.” Sherwood doesn’t suggest that real estate professionals intentionally mislead clients. It’s more complicated than that. “One of the biggest challenges is that a lot of clients don't understand the compensation piece,” she said. There is an easy solution, though. A significant amount of confusion can be eliminated if agents initiate the compensation conversation as early in the transaction process as possible. “Preferably,” Sherwood suggests, “before agents show a single home.” Talking about compensation is crucial for any professional, but that doesn’t mean it’s easy. And for some agents, it never gets any easier. But real estate professionals don't necessarily have to learn the ropes on their own. Lots of local and statewide residential real estate organizations publish blog posts and FAQs, produce videos and infographics, and even offer continuing education (CE) classes that help agents and brokers find their voice and talk to clients about compensation. One article by REALTOR Magazine offers straightforward tips for establishing compensation expectations with clients. The first is to use a buyer rep agreement, which details how agents get paid, how much they get paid, and by whom. REALTORS are also strongly encouraged to fully disclose all the “extras.” For example, compensation for the buyer’s agent might be higher than the amount stated in the buyer rep agreement. It’s not unusual for something like this to happen. If a seller offers to pay a bonus upon sale of their property, buyers should be aware of it. Every penny of the compensation agreement must be disclosed to clients and Sherwood believes it’s a conversation that should occur in person. “I think it's imperative to be open and honest with the people that you're working with,” she says. “It prevents problems down the road.” These days, a lot of brokerages won’t pay agents without that agreement in place. “I think it’s the right thing to do,” says Sherwood. While many residential real estate professionals denounced the arguments made by the plaintiffs in the ongoing real estate commission lawsuits, some good has come out of it for consumers. A year ago, in the spirit of transparency, NAR announced that the organization would adopt a few key institutional changes. For one, brokerages could no longer say their services are free. It’s a reference to the way that sellers, rather than buyers, fork over commission to an agent after their home sale closes. Essentially, NAR admitted that it was a rhetorical flourish since sellers typically include that commission into the cost of the home. So the buyer does pay. The organization agreed to close this loophole. The second pro-consumer change was ensuring to disclose how much compensation buyer agents would receive. So now, part of a REALTORS’ duties includes discussing what services they provide and how they’re compensated. NAR also committed to ending a practice that permitted listings to be excluded from search results based on the amount of compensation offered to buyer agents. In a press release, the organization said these changes were made “to ensure pro-consumer, pro-competitive marketplaces for buyers and sellers, and brokers.”

Global Congress Networking a H y p o H ur: Ed Eakin of Eakin Group LLC, yGula dagzBo of Keller Williams Realty, NAR's Global Ambassador Austria & Germany Pius Dasonw ABoR's Christne Wren

Photo Credit: Austin Board of REALTORS

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OCTOBER 20, 2022 - NOVEMBER 19, 2022 | REALTYLINE.US


$6500 YOUR WAY When your client uses our preferred lender they’ll recieve $6500 towards closing costs or purchase price. Home sale must close by November 30, 2022. Cannot be combined with any other offer or incentive, with the exception of the Hero Loan. Homes by Avi reserves the right to change or cancel the offer without notice.

AVAILABLE

ADDRESS

PLAN ELEV.

STORY

SQ. FT.

BED/BATH

PRICE

1524 1524 1524 1524 1594 1594 1524 1524 1524 1524 1460 1460

3 Bed / 2.5 Bath 3 Bed / 2.5 Bath 3 Bed / 2.5 Bath 3 Bed / 2.5 Bath 3 Bed / 2.5 Bath 3 Bed / 2.5 Bath 3 Bed / 2.5 Bath 3 Bed / 2.5 Bath 3 Bed / 2.5 Bath 3 Bed / 2.5 Bath 3 Bed / 2.5 Bath 3 Bed / 2.5 Bath

$377,308 $377,308 $376,308 $377,308 $386,808 $386,808 $377,308 $377,308 $377,308 $377,308 TBD TBD

1921 1570 2018 1921 2018 1921 2018 2018 2018

4 Bed / 3 Bath 3 Bed / 2 Bath 3 Bed / 2.5 Bath 4 Bed / 3 Bath 3 Bed / 2.5 Bath 4 Bed / 3 Bath 3 Bed / 2.5 Bath 3 Bed / 2.5 Bath 3 Bed / 2.5 Bath

$440,725 $405,808 $462,500 $440,725 $462,500 $440,725 $462,500 TBD TBD

DUPLEX Late 2022 Late 2022 Late 2022 Late 2022 Late 2022 Late 2022 Late 2022 Late 2022 Late 2022 Late 2022 Spring 2023 Spring 2023

111-A Pinnacle Lane 111-B Pinnacle Lane 123-B Pinnacle Lane 123-A Pinnacle Lane 113-A Pinnacle Lane 113-B Pinnacle Lane 117-A Pinnacle Lane 117-B Pinnacle Lane 135-A Pinnacle Lane 135-B Pinnacle Lane 115-A Pinnacle Lane 115-B Pinnacle Lane

Live Oak - B Live Oak - B Live Oak - B Live Oak - B Barton A Barton A Live Oak A Live Oak A Live Oak B Live Oak B Negley A Negley A

2 2 2 2 2 2 2 2 2 2 2 2

SINGLE-FAMILY Late 2022 Late 2022 Late 2022 Late 2022 Late 2022 Late 2022 Late 2022 Late 2022 Late 2022

201 Pinnacle Lane 203 Pinnacle Lane 211 Pinnacle Lane 213 Pinnacle Lane 217 Pinnacle Lane 219 Pinnacle Lane 221 Pinnacle Lane 121 Pinnacle Lane 205 Pinnacle Lane

Canyon A Mueller B Lady Bird A Canyon A Lady Bird B Canyon B Lady Bird A Lady Bird A Lady Bird A

2 1 2 2 2 2 2 2 2

SOL

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For more information contact:

For a 5 minute loan approval contact:

Tim McFadden

Arien Bowersock

(512) 736-8580

(512) 699-8306

Sales Consultant

plumcreekhomes@homesbyavi.com

D

The Home Loan Expert

arien@thehomeloanexpert.com

www.homesbyavi.com *Contact Sales Representative for requirements and details. Photo of model building. Possession subject to availability. Prices are subject to change without notice. Effective March 5, 2022 OCTOBER 20, 2022 - NOVEMBER 19, 2022 | REALTYLINE.US

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OCTOBER 20, 2022 - NOVEMBER 19, 2022 | REALTYLINE.US

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Business Enriqueta “Que” B. Reyes

Branch Manager / Escrow Officer QueTeam@TexasNationalTitle.com

BUDA

589 N FM 1626, Suite 202 Buda, TX 78610 (512) 337-0925

Every closing in our growing Hays County market is a unique experience! That’s why the TNT Buda title services team is made up of members that are accomplished in multiple sectors of the real estate market with proficiencies in coordinating residential, construction, and commercial closing services in both English and Spanish languages.

www.TexasNationalTitle.com

Heather Schaefer NEW at TNT in Fall 2022!

Escrow Officer TeamHeather@TexasNationalTitle.com

Whitney Hauser

Sales Executive Direct: (512) 915-3480 Whitney.Hauser@texasnationaltitle.com

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#1 Real Estate Network in the United States Selling More Properties Than Any Other! MOST REAL ESTATE SOLD IN 2021! Source: RisMedia 2022 Power Broker Report

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BUILD YOUR CAREER WITH US! Contact Rick today for a confidential interview! 24

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