Hello NABOR^® Members,

The 2024 season is heating up, and as you're busy navigating your business flow, I'll share updates directly and concisely so you can get back to work.

1.  Bylaws Update: My top priority in 2024 was to update our Bylaws. A big thank you to Directors Roggow and Gerry and their Task Force for making this happen! On March 22, we'll hold our Member Business Meeting, and your help is crucial! Please attend, preferably in person, and vote in favor of these changes. Key updates include limiting our nominating committee to only one member per brokerage, requiring background and credit checks for Board applicants, allowing for an "At Large broker" on the nominating committee, and decreasing the petition requirement for from-the-floor NABOR® candidates. Your attendance and support are vital!

2.  Candidate Endorsements: Last month, I chaired the first of three candidate screening committees. After thorough interviews and discussions spanning two days, we endorsed Price for Mayor and Barton, Kramer, and Perez-Benitoa for City Council. Early voting is from March 9 to 16 – look out for our team at the polls!

3.  Save the Date: May 21st at NABOR® – join us for an AMAZING intensive day with The Chamber and Leadership Collier to explore Collier County's assets. Register at nabor.com.

4.  New Sponsorship Program: Calling all Business Partners! Check out our new comprehensive "Business Partner Sponsorship Program" HERE, spearheaded by President Elect VanGorder.

5.  NABOR Charitable Foundation: We've partnered with the Collier Community Foundation to create the NABOR® Charitable Foundation (NCF). Thank you to Director Gerry for leading the 2024 NCF Task Force. Donate HERE.

6.  NAR and FR Lawsuit: We're actively monitoring the NAR and FR lawsuit situations.

Sincerely,

PJ Smith, President

Call | Text | Email if you have any questions, suggestions, concerns:

PJ Smith | 239-300-3009 | pjsmithnaples@gmail.com

2023 HONOR SOCIETY APPLICATION - DEADLINE MARCH 1



March 1 is the final day to apply for the Honor Society. Don't miss this opportunity to be recognized for your 2023 volunteer contributions!

January Market Report Shows Very Suitable Climate for Seasonal Sales

Data in the January 2024 Market Report showed invigorated confidence in the Naples area housing market for both sellers and buyers. Overall inventory continued to climb for the sixth straight month resulting in a 58.8 percent increase in homes for sale in January or 4,639 properties from 2,921 in January 2023. Fueled by a 29.1 percent increase in new listings year over year, January showings doubled compared to showings reported in December 2023. The first month of the year also saw serious sellers taking action to capture increased buyer attention with 1,804 price decreases, a 122.7 percent increase compared to December’s 810 price decreases.

ADVANCING ADVOCACY: SHANNON MCGAHN

NAR's Chief Advocacy Officer Shannon McGahn emphasizes how NAR advances public policies and candidates that build strong communities, increase access to homeownership, and protect private property rights. Watch her video below.

FOREWARN®: FREE APP OFFERS INSTANT BACKGROUND CHECKS

PROFESSIONAL STANDARDS

NABOR® CHARITABLE FOUNDATION

NABOR® BUSINESS PARTNERS

Reach the Membership support staff by calling 239-597-1666

or emailing membership@nabor.com.

BUYER BROKERAGE: HOW TO START THE CONVERSATION WITH YOUR BUYERS ABOUT THE IMPORTANCE AND VALUE OF EXCLUSIVE BUYER BROKERAGE AGREEMENTS

By: William G. Morris, Esq. Attorney and Tina Falzarano Bajraktarevic, Licensed Real Estate Broker  

In the dynamic world of real estate, both buyers and sellers navigate a complex landscape to achieve their respective goals.

Almost all real estate brokers used to work for the seller. Naturally, they were paid by the seller. In the early 1990s, buyer brokerage emerged. State laws began to allow real estate brokers to enter into exclusive agreements with buyers to solely represent a buyer in a real estate transaction. The agreement confirmed commencement, termination and the fee charged for the broker’s services. Although the fee was specified in the agreement, it was common for brokers to accept the compensation offered by the listing broker as payment for services rendered to the buyer in lieu of payment from the buyer. 

A recent lawsuit against the National Association of Realtors® (NAR) and several real estate brokerages prompted re-evaluation of the traditional compensation structure for buyer's brokers. While buyer's brokers have typically been compensated by the seller through a commission-based system, this lawsuit had highlighted need for potential changes, signaling that buyers may now need to directly bear part or all of the broker compensation. 

FINCEN GTO REPORTING COMES TO SOUTHWEST FLORIDA

By: Sam Saad, Esq. and Charles Whittington, Esq.

In advance of the 2024 changes to your NABOR^® contracts, the Legal Resources Committee has issued a 2023x version of the NABOR^® contracts to comply with a federal law designed to combat money laundering that has recently become applicable to Southwest Florida. As such, the NABOR^® Sales Contracts (Residential Improved, Vacant Land & As-Is) have been updated due to a federal law that went into effect for Southwest Florida on November 21, 2023. Below is the new language for Standard S found in all three types of NABOR^® Sales Contracts.

MLS

NAR fosters consumer-friendly real estate marketplaces. Find information that promotes the MLS as vital to consumer’s choices when purchasing a home on the NAR website with testimonials of consumers touting how the MLS and the current commission model benefits them. View content that features how REALTORS^® champion home building through homeownership and property rights while advocating for their communities. Also receive the Burnett Trial Updates.

NABOR^® DIGITAL CONTENT

REALTOR^® STORE

FENCE BUDDY®

Use the Fence Buddy® to conveniently secure your lock box to a fence, handrail or post.

• Made of 100% marine grade stainless steel that will not rust
• With its rubber exterior there is no need to worry about scratches
• The 3.5" x 3.75" diameter opening will fit almost any fence, hand rail and post

For sale in the REALTOR^® store for $28

SUPRA^®

Welcome to March! Another busy month ahead for NABOR^®. We pride ourselves on providing resources and services that will help your business succeed. Please consider attending the events and classes that are offered in the month of March!

March 6 – NABOR^® Listing Contract and Broker Relationship Seminar

March 13 – Global Business St. Patrick’s Day Celebration

March 16 – St. Patrick’s Day Parade

March 19 – NABOR^® Sales Contract Seminar

March 20 – Who Owns that Property? A Guide to Wills and Trusts

March 22 – Member Business Meeting

March 28 – 1031 Exchanges

MOTION: Made, seconded, and carried that the Board of Directors of the Naples Area Board of REALTORS® and Real Estate Professionals, Inc. (NABOR®) approves the submitted employee 401K financial document.

MOTION: Made, seconded, and carried that the RPAC Committee recommends to the Board of Directors of the Naples Area Board of REALTORS® and Real Estate Professionals, Inc. (NABOR®) approve local RPAC funds for four (4) full page ads in the NABOR® Magazine at the cost of $1,418/ad (April 2024 – January 2025).

Rationale: The cost is the same as it was for April 2023 - January 2024.

MOTION: Made, seconded, and carried that the Professional Development Committee recommends to the Board of Directors of the Naples Area Board of REALTORS® and Real Estate Professionals, Inc. (NABOR®) to approve the class instructor approval policy, with revision.

MOTION: Made, seconded, and carried that the Professional Development Committee recommends to the Board of Directors of the Naples Area Board of REALTORS® and Real Estate Professionals, Inc. (NABOR®) to approve brokers to be allowed to sponsor installation and annual night of honors, while adhering to current recruitment polices.

As always, we thank you for your membership!

Sincerely,

MARTY MANION, CAE, RCE, CIPS

Chief Executive Officer