How to Handle Ethical Complaints in Real Estate

MCKISSOCK | October 9, 2018

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Building trust and relationship with your clients means adhering strongly to the real estate code of ethics. Commonly known as the NAR® code of ethics, named after the guidelines established by the National Association of REALTORS®, the code is more than just a set of rules but a tool that helps professionalize real estate and grow public in real estate agents. Occasionally, there will be times when a client has a significant ethical dispute with a real estate agent. This could happen to you or agents you work with. It’s important to know what to do in these situations to handle them quickly and as professionally as possible. Of course, only licensed REALTORS® are officially bound by the NAR® code of ethics, but being able to have a professional conversation about real estate ethics is important regardless of your affiliation.

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We are VHB. We’re passionate about making meaningful contributions to the world through the work that we do. We’re proud, yet humbled, to have been doing this for 35 years. We’re a team —1,250 strong — eager to deliver value by embracing our clients’ goals, anticipating challenges, building lasting partnerships, and always providing a smooth ride. Our passionate professionals include engineers, scientists, planners, and designers who partner with clients in in the transportation, real estate, institutional, and energy industries, as well as federal, state and local governments. Together, we work to improve mobility, enhance communities, and balance development and infrastructure needs with environmental stewardship.

OTHER ARTICLES

Using Spatial Data to Make Commercial Real Estate Decisions

Article | February 13, 2020

DFW has record low unemployment rates of 2.9 percent as of December 2019. The workforce gap between retiring baby boomers and up-and-coming workers is causing a labor shortage and skill gap. Large tech companies are offering aggressive compensation packages to beat out the competition. And never mind your corporate culture, workplace strategy, and proximity to hip coffee shops. These are real challenges for business leaders that require data to make the right decision for their organization. Solutions are out there, but you need a fresh perspective using data. There are hundreds of factors to consider, such as education levels, local workforce skills, or market sustainability, but let’s focus on age for now — specifically, the demographic age group of 20 to 34.

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3 luxury real estate development trends to watch in 2020

Article | February 24, 2020

Forget “location, location, location.” For luxury real estate today, it’s all about “lifestyle, lifestyle, lifestyle.” As a real estate agent for Coldwell Banker Residential Brokerage in Boston and a Coldwell Banker Global Luxury® Ambassador, I’ve watched affluent homebuyers become less concerned with where they live and more concerned with how they live. According to “The Report: 2020” just released by the Coldwell Banker Global Luxury® program, the majority want outdoor living, flex spaces/home offices, home automation, open-concept floor plans and new construction. I’m not surprised to see such high demand for new builds. After all, who doesn’t like new? With that in mind, here are some of 2020’s most interesting new construction trends.

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Commercial Real Estate In The Midst of COVID-19

Article | April 9, 2020

It’s a specifically challenging time for the commercial real estate industry. The conventional wisdom has been that as businesses move to a more remote business model, they may question their space needs in the future. The ramifications of that pose a hurdle across all aspects of the industry, from rent forgiveness to managing lender relations to capital market ramifications and the effect on commercial mortgage backed securities. From the landlord perspective, the consensus a week into April has been that about 80% of office tenants have paid their rents for March. Most landlords have been ahead of the game and are maintaining open communication. That hopefully isn’t anything new. Deals have obviously slowed down but this period is different than perhaps pending recessions of the past. There is a lot of cooperation. There are obviously opportunists who may be seeking an advantage, trying to get out of leases etc; however, level heads are able to mitigate those situations by maintaining composure and transparency.

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Everything you need to know about 1031 Exchange.

Article | March 9, 2020

A 1031 exchange is used by savvy real estate investors to defer paying capital gains tax on the sale of an investment property. This is allowed by exchanging the first property for a second property the investor wishes to purchase. To put this in perspective, you would rolls the taxes of the sale of first property into the new property, deferring it until the sale of second property. Effective use of 1031 exchanges allows investors to leverage the proceeds of an investment property sale to build bigger real estate portfolios. Essentially, if you sold a building for $500,000, you would lose, say, $150,000 to taxes. With a 1031 exchange, you might be able to use the entire half a million dollars to purchase one or more properties. Normally, you would have $350,000 after paying taxes on a sale of your investment property which it would put a limit to potentially buy property in the future. By implementing a 1031 exchange, your purchasing power goes up almost 30%. That sounds like a pretty good deal—and a deferred 1031 exchange is one way to potentially help you achieve it. We use 1031 exchange with majority of our real estate investors. It's a great tax strategy for any real estate investor.

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Spotlight

VHB

We are VHB. We’re passionate about making meaningful contributions to the world through the work that we do. We’re proud, yet humbled, to have been doing this for 35 years. We’re a team —1,250 strong — eager to deliver value by embracing our clients’ goals, anticipating challenges, building lasting partnerships, and always providing a smooth ride. Our passionate professionals include engineers, scientists, planners, and designers who partner with clients in in the transportation, real estate, institutional, and energy industries, as well as federal, state and local governments. Together, we work to improve mobility, enhance communities, and balance development and infrastructure needs with environmental stewardship.

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