MAY 2021
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OFFICIAL MONTHLY NEWSLETTER FOR SAN ANTONIO AREA REALTORS ®
Legal & Ethics
IN THIS ISSUE: • Multiple Offers and Fair Housing • Legal & Ethics: Fair Housing • March Home Sales Setting the Pace for Summer • Upcoming Board Events • Welcome New Affiliate Members
• Sign Up for 2022 Committees with Texas REALTORS® • Olé 5k for TREPAC • Thank You to Our SABOR Advertisers
Multiple Offers and Fair Housing Homes are selling faster than ever, and the low inventory is causing buyers to compete for a limited number of homes available. This increased demand and quick-moving market can often result in multiple offers coming in on a property. While the idea of a bidding war may sound desirable to some sellers, there are a few crucial principles to know to help your clients stay focused and avoid legal trouble. • Watch for potential fair housing red flags. Heartfelt letters to sellers, sometimes called “buyer love letters,” can open doors to potential fair housing violations. These letters can often include personal information that leads to a prohibited basis for prejudice. Many times, in trying to convince the seller to accept their offer, the buyer will reveal characteristics about themselves such as race, religion, or familial status. To avoid a fair housing violation, a seller should not accept or reject offers based on the characteristics of a buyer but rather the decision to reject or accept an offer should be based on objective criteria. It is a best practice to make sure to document all offers received by the seller along with the objective reasoning for acceptance or rejection of the offer. • Explain options and alternatives to your clients. The REALTOR® Code of Ethics requires REALTORS® to “protect and promote the interest of their client” in multiple offer situations and also denotes that, “REALTORS® shall submit offers and counter-offers objectively and as quickly as possible.” Prepare your
clients that these offers will likely come in fast and advise them on their available options. For example, sellers can accept what they deem to be the “best” offer and reject all others, or they can also invite all potential purchasers to make their “best” and final offer. Sellers may also choose to counter a selected offer while holding other offers to the side as they await a decision on their counteroffer. Keep in mind that every approach has its advantages and disadvantages. • Know that there are no guarantees. Inviting buyers to make their “best” offers may produce an offer (or offers) better than those “on the table.” But this tactic may also discourage buyers who feel they have already made a fair offer resulting in them breaking off negotiations to pursue other properties. Make sure you are communicating regularly with your clients so they have the expert guidance they need to navigate this process. While it can be exciting for a seller to have so much interest in their property, it is important they know their options and are aware of potential fair housing violations.
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Fair Housing The Fair Housing Act, passed in 1968, codifies the idea of equal housing opportunities for all people and further makes it illegal to discriminate based on race, color, national origin, family status, disability, or religion. REALTORS® support the idea that everyone should have access to housing. The ideal of equal access to housing has become part of the fabric of our real estate market and is embodied within the Code of Ethics which all REALTORS® adhere to. NAR even amended the Code of Ethics in 2010 and 2013 to include updates supporting equal opportunity on the basis of sexual orientation and gender identity. As a REALTOR®, you may have been in the situation where a seller tells you that they do not want to sell their property to a person of a particular race, or a property owner tells you that they do not want to rent to people with a disability. Perhaps your client wants to see a particular home in an area of town, and you feel impressed to let them know that you don’t think they would be comfortable in an area because of their religious affiliations. In each of these situations you may feel an obligation to comply with your client’s desires and do what they want. You may also feel that your actions are necessary to act in accordance with your client’s best interests, but you would be wrong. Each of these actions would be in violation of Federal Fair Housing Laws. Home buyers have the right to have housing available to them without discrimination or other limitations predicated on race, color, religion, sex, handicap, familial status or national origin. Federal law prohibits discrimination in the sale, rental and financing of property on the basis of race, color, religion, sex, handicap, familial status, or national origin. Additionally, some states and local municipalities prohibit discrimination against a person on the basis of sexual orientation. Article 10 of the REALTOR® Code of Ethics also prohibits REALTORS® from engaging in any plan or agreement to discriminate against a person on the basis of race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity. In a situation where you are asked to engage in discriminatory behavior by a home seller or landlord, you cannot comply with such a request. One way to avoid finding yourself in violation of the law and the REALTOR® Code of Ethics is to educate your clients on Fair Housing Laws and your ethical obligations at the beginning of your relationship. You should also set the expectation with them that you will not engage in any discriminatory behavior. These practices could help you avoid finding yourself involved in an investigation and/ or lawsuit. To help with REALTOR® education related to Fair Housing, NAR has recently released the Fairhaven program. Fairhaven is an interactive program that places users in different real-world scenarios to educate REALTORS® about Fair Housing laws. It’s a great resource and can be found on NAR’s website. If you suspect that your client is the victim of such discrimination, you should contact SABOR, Texas REALTORS®, and/or the United States Department of Housing and Urban Development to bring such issues to their attention.
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March Home Sales Setting the Pace for Summer SAN ANTONIO (April 14, 2021) – San Antonio and its surrounding areas experienced a 16 percent increase in March’s home sales compared to March 2020, according to data provided by the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. The upward trend resulted in 3,516 homes sold in March 2021 compared to March 2020’s 3,029 homes sold. “As we near summer, we are starting to see a rise in home sales earlier than the peak of summer season,” said Cher Miculka, SABOR’s 2021 Chairman of the Board. “Taking the pulse of the market and seeing the continually high demand, it is clear that homeownership in Bexar County and its surrounding areas remains a priority for many coming into mid-year.” The average price of a home sold in the area for March was $316,971 with a median price of $268,500. Throughout Texas, the average price was $363,563 which is 21.3 percent higher than March 2020, while the median price in the state also climbed, reaching $285,000. In the greater San Antonio area, there were 3,739 new listings, while Bexar County specifically reported 2,661 new listings. In all of Texas, a total of 38,607 new listings hit the market in March. In the county comparison, Bexar County sales increased by 13.9 percent with 2,546 homes sold. In a year-overyear comparison, Travis County’s home sales increased 4.7 percent (1,368 homes), Harris County increased 19.8 percent (4,717 homes), and Dallas County increased 8.8 percent (2,010 homes). The percentages reflect yearover-year changes from 2020 to 2021.
Total Sales 3,516
Average Price
$316,971
Median Price $268,500
San Antonio Area March 2021
UPCOMING BOARD EVENTS May 2021
03 07 13 31
05 10 18
[FACEBOOK LIVE] ‘Don’t Miss This’ Mondays: AAPI Heritage Month SABOR Board of Directors Application Deadline Olé 5k for TREPAC Registration Ends
[WEBINAR] Farm & Land Education: Wildlife Tax Valuation from a Biologist’s Perspective [FACEBOOK LIVE] ‘Don’t Miss This’ Mondays: Texas REALTORS® Applications [VIRTUAL] Designated Broker/ Manager Meeting
06 13 25
[FACEBOOK LIVE] The Appraisal Process with Bexar County Chief Appraiser [WEBINAR] Building Business Through Facebook [WEBINAR] Forbearance and Forclosure: What You Need to Know in Today’s Real Estate Market
SABOR Closed (Memorial Day)
A COMPLETE LIST OF COMMITTEE MEETINGS, EDUCATION COURSES AND OTHER BOARD EVENTS CAN BE FOUND ONLINE AT MEMBER.SABOR.COM
WELCOME NEW AFFILIATE MEMBERS Robert Benavides - Shutterbug Studios Cole Gorzell - Hays Inspections Services Paul E. Grewe - Good Guys Home Inspection LLC Michael A. Hammel - Green Loads Services Adrienne Lewis - CSC Floors Dino Maisano - Green Loads Services Reed M. Peterson - Rio Bravo Home Inspections Debi Ray - Shutterbug Studios Christopher Sabala - R L Wilson Law Firm Vance Voelkel - GreenWorks Inspection & Engineering
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@SanAntonioBoardofREALTORS
@SABoardofREALTORS
company/san-antonio-board-of-realtors
@SABoardREALTORS
@saboardrealtors
Sign Up for 2022 Committees with Texas REALTORS® On April 30th Texas REALTORS® opened their 2022 committee applications and we encourage you to consider participating! Texas REALTORS®’ committees are the backbone of the association as they shape the future of the association and the real estate industry at the state level. There are a wide variety of committees to choose from. They do everything from encouraging diversity in member activities and involvement to recommending programs, products, and services that enhance the value of membership and developing a strategic plan for internal and external issues that impact the real estate industry. There are over 20 committees available for participation and you can apply to serve on your top three committees. Not only is this a great way for you to lend your expertise to advance the association, but it is a perfect opportunity for you to develop strong working relationships with your peers on a state level. You can visit texasrealestate.com to read the descriptions of these committees and consider where you can get involved. Make sure to submit your application by June 18. Applicants will be notified about committee appointments in September and committee terms will begin December 1, 2021. For more information visit texasrealestate.com.
Olé 5k for TREPAC Lace-up your running shoes and join us for a virtual run as we get moving and show our support for TREPAC! SABOR’s Olé 5k for TREPAC is starting soon and we want you to join us for the cause. Not much of a runner? We get it! Members can choose to run, walk or bike the 5k or opt to enter as a cheerleader to support the runners and private property rights, without having to break a sweat. Those who enter to run, walk or bike will receive a runner’s bib, a commemorative event t-shirt, a race completion medal, and a commemorative water bottle. Members who enter as cheerleaders will receive a commemorative event t-shirt. Event registration is open through May 13 and we want to see you there! Those entering the 5k will have between June 14th and 30th to complete the distance. Use the hashtag #SABOR5k to share photos from your 5k experience! For more information contact LaurenG@sabor.com.
Thank You to Our SABOR Advertisers Platinum
Gold SWBC Mortgage
Bronze Becker Properties Brick and Stone Realty Coldwell Banker D’Ann Harper , REALTORS® Drayton Realty Guild Mortgage Hendricks Property Management
Keller Williams Heritage NARPM Old Republic Title Trey Flournoy Voice of Won
BOARD OF DIRECTORS Chairman Cher Miculka
Chair-Elect Tracie Hasslocher Monique Bordelon Jesse Bugarin Kevin Crawford Donna Drayton
Secretary/Treasurer Sara Briseño Gerrish Katie Griffin Ross Jan Hicinbothom Marty Hutchison Trudy Pape
Members-At-Large William Curtis | Marquis Williams
Renae Pretty Anna Ramos Courtney Rosen Mindi Stange
Reagan Williamson
Immediate Past Chair Kim Bragman