Inside this issue: Broker Attribution goes live • Agent portal debuts • Stabilizing economy key to housing sales • CNY median selling price up • Ways to be more inclusive and more

NAR policy requires brokers to comply with new Broker Attribution rule; system goes live on Nov. 30

NAR updated Section 18.2.12 of the IDX rules requiring an email or phone number to be provided by the listing participant to show on all broker and agent websites that show listings from other brokerages (IDX Data).

To assist brokers with compliance, new fields will be made available in Matrix starting on Nov. 30: “Attribution Type” and “Attribution Contact Override Y/N” in the Office Record and “Attribution Contact” and “Attribution Contact Override” fields in the Listing Record.

The broker will be responsible for going into their office record in Matrix to select which contact method will be the default on the brokerage’s listings. There will be five options to choose from, but only one can be selected. 

If a broker decides they want to allow their agents to override the broker’s pick, the broker can check yes in the “Attribution Contact Override Y/N” field. Agents would then be able to make the change by modifying their listing to either their email or phone number of choice within the listing under the “Attribution Contact Override” field. View agent instructions here.

Please remember, Broker Attribution is up to the Broker to make sure the broker and their agents are in compliance with 18.2.12. The MLS cannot make any choices on these fields for you. Read more including step-by-step instructions.

OneHome's Agent Portal debuts next week

OneHome will be launching a new feature called Agent Portal on Nov. 30, which will allow agents to preview what clients see when they visit OneHome, helping them better collaborate with clients. Agents can view a dashboard of all their OneHome contacts, recommend properties to clients directly, and preview properties they’ve considered, favorites, saved searches, their progress in the Planner, and more. it can be accessed in agent preview mode, a link on the Matrix contact details screen, the Agent Portal tile on your dashboard and agent.onehome.com.

Agent Portal works on both desktop and mobile devices. Watch the video.

GSAR Industry Update well attended; members learn about NAR lawsuit

More than 90 members attended last week's GSAR Industry Update presented by national industry speaker and trainer Rick Harris and Rodney Gansho, NAR’s director of engagement. 

The session covered recent class-action lawsuits filed against the National Association of REALTORS® and four large real estate franchisors alleging that sellers are unfairly required to pay the buyer’s broker commission and falsely assert that sellers do not have any ability to negotiate. NAR rules and policies, however, are clear: Commissions are always negotiable.

In 2020, the Department of Justice and NAR reached a settlement, which emphasized and furthered NAR’s long-standing pro-consumer policies and practices, including making clear that real estate professionals should never characterize their real estate brokerage services as free if they are receiving compensation from any source. However, the DOJ withdrew from the settlement in 2021, publicly stating its intention to investigate the matter further. Regardless, NAR clarified its policies in the first quarter of 2022 and furthered what was already the spirit and intent of existing policies, including providing increased transparency for consumers by enabling brokerages to make offers of compensation public on their websites. NAR recently launched the competition.realtor website to help REALTORS® communicate about this topic..

View slides from the session.

Stabilizing economy holds key to reviving home sales

A recent report showing that the rate of inflation declined in October is good news for the real estate industry—and possibly a bellwether of declining mortgage rates in coming months, Lawrence Yun, chief economist for the National Association of REALTORS®, told thousands of attendees Friday at NAR NXTlast week. 

Despite the headwinds of higher mortgage rates and slowing sales, severely limited inventory will keep home prices from declining dramatically in most of the country over the next year. “For most parts of the country, home prices are holding steady since available inventory is extremely low,” Yun said. “Some places are experiencing price gains, while some places, most notably in California, are seeing prices pull back.”

Even in areas where agents are seeing price declines, Yun said, 2022 is not a repeat of the 2008 housing crisis, when prices collapsed and foreclosures spiked. “Housing inventory is about a quarter of what it was in 2008,” he said. “Distressed property sales are almost non-existent, about 2%, and nowhere near the 30% mark seen during the housing crash.” Read more.

GSAR office closed for Thanksgiving holiday

The GSAR office will close on Wednesday at 3 p.m., and remain closed on Thursday, Nov. 24, and Friday, Nov. 25 for the Thanksgiving holiday. The office will reopen on Monday, Nov. 28, at 8:30 a.m.

Department of State proposes new cease and desist zone in parts of Brooklyn

The Department of State is proposing the creation of a new cease and desist zone in areas of Brooklyn near East Flatbush, also referred to as Community Board 17. Public comments on the proposal will be accepted until January 23, 2023. Members of the public wishing to provide public comment can email: david.mossberg@dos.ny.gov. NYSAR will be providing comments on the proposal and as it opposes the imposition of cease and desist zones which restrict commonly used business practices by licensed real estate professionals. Read the DOS proposal here.

Remind agents: Non-MLS closed sales cannot be entered past 30 days

Please review the following MLS rule with your agents:

Reporting Non-MLS Sales for Comparable Purposes Only (Comp Only): For sold data to be entered into the MLS for the sole purpose of comparable information, an MLS* subscriber/participant must represent the buying side of the transaction. These include listings that were not made available for cooperation/compensation such as a FSBO, New Construction, or a listing from a neighboring MLS (excludes wholesale, assigned contracts, and the acquisition side of distressed sales). These may be entered for Selling/Buyer’s Agent credit only after the sale is finalized. Please contact your MLS for the written procedure on how to proceed, which will include how to enter the listing so it will not show as available. The MLS will update the listing agent, replacing it with the unrepresented seller ID for that MLS, and then correct the listing, contract, and closing dates. Listings entered for comparable purposes only will have “For Comparable Purposes Only” added to the first line of private remarks. If the comparable sale is not submitted within thirty (30) calendar days of its closing date, it cannot be entered into the MLS. These entries are optional. * MLS includes all MLS’s that participate in the New York State Alliance of MLSs database.

5 Ways to be more intentionally inclusive

During her session at the NAR NXT conference, Marki Lemons-Ryhal, a broker, author and real estate speaker, offered attendees insights on how real estate leaders can be more intentional and inclusive in their business. These included:

• Ask explicitly for help and money,
• Coordinate with someone who can do the work,
• Offer accessible experiences,
• Consider diversity outside of race,
• Ask about institutional support,

Being inclusive is good for business, Lemons-Ryhal said, as it can help identify new leaders with fresh perspectives and help REALTORS® do a better job of servicing their clients. But it will also benefit each person who becomes comfortable with being uncomfortable. “When we become more intentional about bridging all walks of life, we learn what we don’t know. I’m sad for those who only hang out with people who look like them,” she said. Read more.

3 showing dilemmas: Illegal, unethical or just plain rude?

Agents have to watch their step legally every day. But how do you sidestep the legal land mines you might not be aware of? In a session called “Real Estate Karma: Is This Illegal, Unethical or Just Plain Rude?” during the recent NAR NXT, The REALTOR® Experience real estate attorney Trista Curzydlo posed several scenarios to the audience including marijuana, hidden cameras and animals. Read on to find out if the three situations are illegal.

Dues notices are available in the member portal; pay by Dec. 31.

GSAR asks all brokers to make their agents aware that their dues bill is available in their member portal. If you have an agent or agents who do not receive the notice on Nov. 1 in their email, please tell them to contact the GSAR office to update their email address. Dues are payable without penalty by Dec. 31.

Sign up for the GSAR BJ's Wholesale Club discount program 

Many GSAR members regularly take advantage of the discounted BJ's Wholesale Club membership benefit. Members can sign up for a new basic membership for $27 for one year with two cards and a $10 reward. The new Rewards Membership is $81 for 12 months with two cards and a $20 reward.

Members renewing a basic membership pay $59.20 for one year with two cards and a $10 reward. The Rewards membership renewal is $118.80 for 12 months with two cards and a $20 reward. See details here.

If you are a renewing BJ's member, use this application. If you are a new BJ's member, use this application. Applications must be submitted by email to pmajchrzak@bjs.com.

Be a part of important industry conversations in Community

Encourage your agents to check out GSAR's private, members-only online Community. It's a great place to have industry conversations with their colleagues. Community is the place for members to discuss important industry and association topics, while sharing their knowledge directly with their peers. share knowledge outside of the public eye. Discussions will be monitored and subject to a Code of Conduct as well as the Code of Ethics and license law. Set up and personalize your profile today on Community and begin enjoying this new GSAR member benefit. Click here to see our Community FAQs.