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BROKERS NEED TO KNOW
JULY 2017
CYBER HYGIENE
Does your brokerage have good “cyber hygiene”?
It’s the concept of employing strong preventive measures against cyberattacks at your company and having an action plan in place in case networks are hacked.
With email phishing schemes accounting for 95 percent of cybersecurity threats, according to FBI statistics, brokerage owners need to think ahead about how their agents and staff are vulnerable when communicating with clients over digital platforms.
During the Illinois Department of Financial and Professional Regulation’s Cybersecurity Conference in Chicago, recently, legal and law enforcement experts offered advice on how broker-owners can beef up their company policies to safeguard their networks.
Read more in REALTOR® magazine, online here:
http://realtormag.realtor.org/for-brokers/network/article/2017/06/safeguard-your-company-against-cyberattacks
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SAR GOLF TOURNAMENT
It's time, once again, to tee up for the annual Spokane Association of REALTORS® golf tournament!
This year's event will be held Thursday, July 20th, at Downriver Golf Course, with a 7:30 a.m. shotgun start.
Invite your builders, bankers, stagers, colleagues, friends, to join you for a morning of golf on one of our gorgeous local golf courses.
REGISTRATION DEADLINE: FRIDAY, JULY 14th
See the event flyer for more information, among the supporting documents to this newsletter.
EDUCATION EXCELLENCE
Your SAR will be offering an Education Excellence double-header this summer: Increasing your SEO and Online Traffic - and - Internet Correct: Etiquette & Ethics in the Ethers, Thursday, August 10th, Center Place Regional Events Center.
Both of these classes will be taught by Washington REALTORS® instructor Terry Eccles-Pettet.
The classes will be offered around our third-quarter General Membership Meeting and luncheon.
See the event flyer among the supporting documents to this newsletter.
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REAL ESTATE COMMISSION OPENING
Are you looking to engage the public and play a role in the ever-evolving real estate industry?
The Governor's Office is seeking applicants to serve a six-year term as a member of the Washington Real Estate Commission. The Commission is composed of seven members: two members from Eastern Washington, two members from Western Washington, two members at large, and one ex-officio chair.
The currently open appointment is "at-large."
The Commission meets quarterly and develops advice to guide the Department of Licensing as it carries out provisions of Washington Real Estate Licensing Law and Rules.
Commissioners are paid up to $50 a day for their service, and are reimbursed for certain travel expenses when conducting commission business.
Find out more and apply online here.
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TOO MANY ATTACHMENTS
Many brokers are attaching extraneous documents to a buyer's offer, which can muddy the transaction.
Washington REALTORS® Legal Hotline lawyer Annie Fitzsimmons goes into detail on some best practices for what needs (or doesn't need) to be attached to a buyer's offer in this eight-minute video:
https://youtu.be/uHRpOTpN3kM
MONKEY SEE MONKEY DO
It's a fast-paced market!
Brokers are trying to come up with new, innovative ideas every day to compete for listings and attract clients.
Buyers and sellers are also becoming more & more aggressive putting pressure on brokers to perform in
new ways.
Washington REALTORS® Legal Hotline lawyer Annie Fitzsimmons highlights some of the bad practices she's seen come out of this market and appeals to brokers to always question new practices and to talk to your designated broker to get more information before jumping into anything.
See the eight-minute video online here:
https://youtu.be/esd0eLwkBRo
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JUNE MARKET STATISTICS
June residential closed sales on less than one acre including condominiums totaled 944. This is a one-month record for closed sales. Compared to June last year when 798 closed sales were reported, sales are up 18.3%. The average sales price for June was $233,756 up 7.6% from June 2016 when the average sales price was $217,256.
Median sales price for June was $217,000 up 10.3% from June last year when the median sales price was $196,749. Both average and median sales price for June are record highs.
Year to date sales are up 7% through the first six months of this year, 3,509 v. 3,278 for 2016. Average sales price through the first six months of this year is $223,258 compared to $208,778 last year, up 6.9%. Median sales price through June is $205,000 up 7.9% when median sales price was $190,000.
Inventory has improved slightly but is still down compared to last year. At the time of this report, inventory was 1,871 compared to last year when the inventory was 2,081. Inventory is currently down 10.1%. New construction sales are still lagging behind last year, 333 v. 389, down 14.4%.
The above is an excerpt of the Spokane Association of REALTORS’® June 2017 Residential Market Activity Report. Access to the full report each month is a benefit of your association membership. See the full report online here (after you log in to the member portal):https://www.spokanerealtor.com/mls/market-activity-mls-statistics
MAY LOCKBOX STATISTICS
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