Insight | November 2023

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November 2023

Features

14 Gratitude: The Catalyst for Business Transformation

Explore the stories of Grace Jones, Tom Gale, and Sofia Crisp, and uncover how the power of gratitude can profoundly impact your business and the world around you.

19 Legal Quiz: Do REALTORS® outside the MLS have a duty to ascertain the terms of compensation prior to an offer being made? Get the answers to the Legal Hotline’s latest inquires.

23 Six Ways to Master Real Estate Success Establish good habits for improving business and developing stronger connections with those in and out of the real estate industry.

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ncrealtors.org

Have something to talk about? Sure you do—and we want to hear it! Send us your comments, ideas or success stories to mallen@ncrealtors.org and you could be featured in the next Insight.

President

Leigh Brown, ABR®, AHWD, C2EX, CIPS, CLHMS, CRS, e-PRO®, SFR®, SRES®

President-Elect

Tony Harrington, ABR®, ALHS, AHWD, C2EX, CIPS, CLHMS, CRS, GREEN, PSA

Treasurer

Laurie Knudsen, C2EX, GRI

Immediate Past President

Wendy Harris, ABR®, AHWD, C2EX, CIPS, CRS, e-PRO®, GRI, PSA, SRES®, MRP, WHS

Regional Vice Presidents

Region 1: Adam Upchurch, Topsail Island

Region 2: Brooke Rudd-Gaglie, Oak Island

Region 3: Laurie Linder, Fayetteville

Region 4: Wallace Peiffer, Creedmoor

Region 5: Ray Alexander, Greensboro

Region 6: Paul McGill, Winston-Salem

Region 7: Carol Bradley, Monroe

Region 8: Edward Baesel, Charlotte

Region 8: Aric Beals, Charlotte

Region 9: David Noyes, Arden

Region 10: Lewis Grubbs, Raleigh

Region 10: Leslie Williams, Youngsville

At Large Representative: Dennis Bailey, Shelby

Chief Executive Officer

Andrea Bushnell, Esq., AHWD, CIPS, RCE

Vice President of Communications & Marketing

Mckenzie Allen, AHWD, C2EX

Content Marketing Coordinator

Lia Ross, C2EX

Multimedia Coordinator/Staff Photographer

Doug Klesch

Contributors

Lee Nelson, John Wait

For advertising information, visit ncrealtors.org/advertise or contact Keri Epps-Rashad at (336) 217-1049.

INSIGHT (ISSN 24714127) (USPS 17170) is published four times a year in February, May, August and November by NC REALTORS®, 4511 Weybridge Lane, Greensboro, NC 27407. Periodicals

Postage Prices paid at Greensboro, N.C. and additional mailing offices.

POSTMASTER: Send address changes to INSIGHT, 4511 Weybridge Lane, Greensboro, NC 27407-7877.

This publication is designed to provide accurate and authoritative information regarding the subject matter covered. Articles which appear in Insight are an informational service to members and consumers. Their contents are the opinions of the authors alone and do not necessarily represent those of NC REALTORS®.

Advertising of a product or service does not imply endorsement, unless specifically stated.

To opt-out of paper copy mailings, email hello@ncrealtors.org with a subject line of “Insight opt-out.”

Dear NC REALTORS®,

I cannot believe how quickly this year has flown by. As my term as your 2023 President comes to an end, I want to take a moment to express my gratitude for the opportunity to serve you and our industry. It has been an honor to travel across the state this year and witness the incredible work that NC REALTORS® members are doing to open doors and keep home ownership alive.

Recent news and headlines concerning our industry may have left some feeling discouraged, but I urge you to remember that now is the time, more than ever, to display the value and integrity of working with a REALTOR®. Our clients count on us to guide them through one of the biggest financial decisions of their lives, and we must continue to hold ourselves to the highest standards of professionalism and expertise.

As I close out my year as NC REALTORS® President, I know that the organization will be in good hands as 2024 President Tony Harrington steps in to lead. I have every confidence in his ability to continue moving our industry forward and advocating for the needs of our members.

Thank you for your dedication to NC REALTORS® and for the privilege of serving as your President. It has been a year I will never forget.

4511 Weybridge Lane, Greensboro, NC 27407

Phone: (336) 294-1415

ncrealtors.org

Leigh Brown, 2023 NC REALTORS® President Insight,

2023 NC REALTORS® ELECTION WINNERS

President-Elect

John McPherson | ABR®, AHWD, C2EX, CRS, e-PRO®, GREEN, GRI

Winston-Salem Regional Association of REALTORS®

Treasurer

Renee Cooney | ABR®, AHWD, C2EX, GRI, RENE, SRES®, WHS

Carolina Smokies Association of REALTORS®

Issues Mobilization Committee

Brett Bushnell | AHWD

Raleigh Regional Association of REALTORS®

Finance & Budget Committee

Michael Wong | MRP, SPS

Canopy REALTOR® Association

David Zeitz | AHWD, GRI Longleaf Pine REALTORS®

At-Large NAR Director

Asa Fleming | AHWD, C2EX, MRE, SFR®

Raleigh Regional Association of REALTORS®

Treasure Faircloth | C2EX, CRS, e-PRO®, GRI

Winston-Salem Regional Association of REALTOR®

NAR Director – Small Association

Adam Upchurch, AHWD, C2EX, CIPS, SPS

Topsail Island Association of REALTORS®

NAR Director – Medium Association

Christina Asbury | ABR®, ALC, C2EX, CRS, GRI, MRP, SFR® Jacksonville Board of REALTORS®

Regional Vice Presidents

Region 1 – Kimberly Perkins | AHWD, C2EX, e-PRO® Jacksonville Board of REALTORS®

Region 2 – Amanda Parmer | ABR®, CDPE, C2EX, GREEN, SFR® Cape Fear REALTORS®

Region 4 – Cindie Burns

Durham Regional Association of REALTORS®

Region 5 – Pamela Webb | AHWD, C2EX, GRI High Point Regional Association of REALTORS®

Region 7 – Dennis Bailey | C2EX, CRS, CCIM, e-PRO®, GRI, PSA Cleveland County Association of REALTORS®

Region 8 – Josh Tucker

Canopy REALTOR® Association

Region 8 – Tim McBrayer | AHWD, ABR®, CAPS, CGP, CIPS, CLHMS, CMP®, CRS, EcoBroker, e-PRO®, GREEN, GRI, MIRM, MRP, SFR®, SRES; Home Builders – CAPS, CGP, CMP, MIRM Raleigh Regional Association of REALTORS®

NC REALTORS® WILLIAM C. BASS LEADERSHIP ACADEMY CLASS OF 2023

Michael Carter

Greensboro Regional REALTOR® Association

Samantha Cole

Mid Carolina Regional Association of REALTORS®

These individuals have successfully completed the NC REALTORS® William C. Bass Leadership Academy. This distinguished leadership development program has not only identified, inspired, and mentored these individuals but has also equipped them with valuable skills for making a positive impact on both the community and the real estate industry. We look forward to witnessing the positive influence they will continue to have on our association, industry and communities.

John-Lewis Godfrey

Winston-Salem Regional Association of REALTORS®

Mark Lindsey

Brunswick County Association of REALTORS®

Jonathan McBride

Raleigh Regional Association of REALTORS®

Jason Morton

Canopy REALTOR® Association

John Muir

Highlands Cashiers Board of REALTORS®

Jackson Ogburn

Winston-Salem Regional Association of REALTORS®

Fara Pourshariati

Raleigh Regional Association of REALTORS®

Ayesha Richardson

High Point Regional Association of REALTORS®

Michelle Roberts

Cape Fear REALTORS®

Emily Wood

Catawba Valley Association of REALTORS®

AC A DEMY LEA DERSHIP

Each year, NC REALTORS® honors its members with awards for service and achievement. Multiple members were presented with achievement awards during our 2023 Region 4 REALTORS® Conference & Expo in Savannah, Georgia. We're proud to showcase our recipients who truly embody the association's core values and contribute to the success of this organization.

Amy Hedgecock

REALTOR® of the Year High Point Regional Association of REALTORS®

Bob Bates Hall of Fame Cape Fear REALTORS®

Bruce Gates

Regional Service Award, Region 3

Goldsboro Wayne County Association of REALTORS®

Mark Saunders Champion Award

Winston-Salem Regional Association of REALTORS®

Gloria Green

Regional Service Award, Region 2 Cape Fear REALTORS®

Guy McCook

Ben Ball Community Service Award Cape Fear REALTORS®

Winners

Connie Corey

Hall of Fame Coastal Plains Association of REALTORS®

David Costner

Appraisal Section Impact Award Gaston Association of REALTORS®

Magda Esola Committee Member of the Year Canopy REALTORS® Association

Brenda Dixon

Innovation/Entrepreneurial Award Cape Fear REALTORS®

Wallace Peiffer

Regional Service Award, Region 4

Durham Regional Association of REALTORS®

Robert Lewis

Regional Service Award, Region 5

Greensboro Regional REALTORS® Association

Jennifer Frontera

Regional Service Award, Region 8 Canopy REALTOR® Association

Jonathan McBride

Regional Service Award, Region 10

Raleigh Regional Association of REALTORS®

Stars Rising

Each year, NC REALTORS® local associations select a member who has been a REALTOR® for five years or less, has provided exemplary service to their local board and exhibits strong leadership potential. We look forward to seeing where our 2023 rising stars take us next.

Meredith Butler Coastal Plains Association of REALTORS®

LaToya Townsend

Greensboro Regional REALTORS® Association

Brian McKenna

Brunswick County Association of REALTORS®

Kathleen Ocampo Hypolite Durham Regional Association of REALTORS®

Billie Rogers

High Country Association of REALTORS®

Jennifer Isenhower

Goldsboro Wayne County Association of REALTORS®

April Shepard Cape Fear REALTORS®

Anne Carrol Mascavage Canopy REALTOR® Association

Cassie Taylor

Winston-Salem Regional Association of REALTORS®

WHAT DOES NC REALTORS® PAC DO?

NC REALTORS® PAC is North Carolina’s #1 state Political Action Committee (PAC)! Your PAC allows investors to pool their resources to fund candidates who support our business.

WHO DO WE SUPPORT?

NC REALTORS® PAC backs candidates who promote homeownership, property owners’ rights and the real estate industry.

We are a non-partisan PAC so we support candidates based solely on their stance on REALTOR® issues, not their political party affiliation.

WHO MAKES FUNDING DECISIONS? MEMBERS DO!

FEDERAL LEVEL: RPAC

DISBURSEMENT TRUSTEES

A team of trustees, who are REALTORS® from across the country, choose REALTOR® friendly candidates in Congressional races across the nation.

STATE LEVEL: NC REALTORS®

PAC TRUSTEES

29 Trustees who are NC REALTORS® from across the state come together to make funding decisions on NC state level races.

LOCAL LEVEL: LOCAL BOARDS

Members of local boards use their share of funds to support candidates for local offices like Mayor, City Council, School Board and others.

2023 Goal | $1,508,500

In 2022, we raised $1,508,435

WHO GETS THE MONEY?

Your PAC investment is split between the local, state and federal levels to protect you and your business at all levels of government.

WHAT’S IN IT FOR ME?

NC REALTORS® PAC is constantly fighting to protect you and your business. Even when other issues dominate the headlines, your team is working behind the scenes to protect and promote real estate. NC REALTORS® PAC and your Government Affairs team:

Successfully Lobbied for funding to secure $180 million for the Workforce Housing Loan Program

Fought TO END THE NC EVICTION MORATORIUM protecting NC REALTORS® property managers and their landlord clients

Successfully PASSED legislation to ensure roads intended for DOT adoption are taken over by them in a timely manner

WHAT’S THE BOTTOM LINE?

NC REALTORS® PAC efforts pay you back every day.

NC REALTORS® PAC has worked to defeat a 8.05% Sales Tax on Services, on the Sale of Property Tax and a $150 increase in Professional Fees. How much money do you save from these NC REALTORS® PAC wins?

DESIGNATION RECOGNITION

REALTOR® ASSOCIATION CERTIFIED EXECUTIVES

NC REALTORS® congratulates Ashley Wheeler of the Canopy REALTOR® Association and Bonnie White of the Johnston County Association of REALTORS® for receiving the REALTOR® Association Certified Executive (RCE) designation. This remarkable accomplishment highlights their exceptional dedication, experience, and commitment to professional growth within the real estate industry.

The RCE designation, as recognized by the National Association of REALTORS® (NAR), stands as a distinguished accolade solely tailored for REALTOR® association executives (AEs). It is a testament to the qualities of goal-driven AEs who exhibit unwavering dedication to their roles, supported by a wealth of experience and a relentless pursuit of professional advancement.

Earning the RCE designation is no small feat; it entails a rigorous process that emphasizes both practical experience and continuous education. Candidates embark on their journey towards this prestigious recognition by accumulating points through a combination of hands-on experience, educational accomplishments, and active involvement in the REALTOR® community.

For those interested in exploring this esteemed designation further, the National Association of REALTORS® offers a wealth of resources and information on their website. To delve deeper into the RCE designation and its significance within the real estate community, we encourage you to visit nar.realtor and discover the possibilities it holds for your professional growth.

The Catalyst for Business Transformation Gratitude:

Explore the stories of Grace Jones, Tom Gale, and Sofia Crisp, and uncover how gratitude can profoundly impact your business and the world around you.

BY LEE NELSON

Lee Nelson is a freelance journalist from Illinois. She writes for REALTOR® Magazine, several state REALTOR® Magazines and websites, and loanDepot.com.

In an industry known for transactions, it’s the stories of human connection and gratitude that stand out. Grace Jones, an agent at Keller Williams Elite Realty in Durham, NC, recalls a pivotal encounter during an open house. A woman living in her car with her three children came to the open house looking for food. Abandoned by her husband with no financial resources, this woman’s story struck a chord with Jones.

“She was a teacher but didn’t have enough money for housing.” Jones discovered that this woman had a 750 credit score, so she worked tirelessly to connect her to a down payment assistance program. Beyond the transaction, the woman’s gratitude for Jones’ nonjudgmental assistance was immeasurable.

“I believe gratitude is being able to acknowledge that something that didn’t have to happen, happened,” Jones reflects. “I believe the more grateful you are, the more it is returned to you. Celebrate all the wins. For some, that means just waking up in the morning.”

Reviving Gratitude with Handwritten Notes

For Jones, gratitude is more than words—it’s a way of life. She employs the timeless art of handwritten notes, a

Gratitude

can promote overall better health, attitude and mindset.

“Gratitude is being able to acknowledge that something that didn’t have to happen, happened. The more grateful you are, the more it is returned to you."

– Grace Jones, Keller Williams Elite Realty

lost tradition in today’s digital age. “That’s gratefulness,” she asserts. “It’s not about being thankful for what you got, but being present in the moment and making someone else’s day.”

Jones composes these heartfelt notes twice daily, every day, appreciating individuals who have left a positive mark on her life. From outstanding restaurant servers to unnamed heroes, she extends her gratitude, even when she lacks their mailing addresses. Her gratitude has a ripple effect, such as the note she wrote to the manager of her local grocery store, acknowledging the exceptional service of the butcher. This simple act, containing her business card, culminated in the sale of the butcher’s home.

“It’s much cheaper than running ads,” Jones states. “But that wasn’t the intention of it. It’s about changing lives.”

Her belief is clear: gratitude shifts focus from what you lack to appreciating the present.

Harnessing Gratitude for Community Transformation

Tom Gale, a sales associate at Coldwell Banker Sea Coast Advantages in Wilmington, NC, exemplifies the transformational power of gratitude. He has consistently contributed to his community, motivated to make a difference rather than seeking recognition.

As the 2021 president of Cape Fear REALTORS®, Gale dedicated his term to forging deeper connections with local community groups, including housing-related nonprofits like Habitat for Humanity. Instead of the customary installation gala for the association president, he proposed a low-key event and channeled the funds into launching a Habitat for Humanity home-building campaign under the association’s name.

The cancellation of the installation event due to the COVID-19 pandemic freed up additional resources, propelling the Habitat project forward. Gale witnessed a surge in association members volunteering and providing financial support, which was vital in realizing this project.

“Not only was this home life-changing for the owner and

her family, but it was nice for the community to see our association making a positive impact in such a tangible way,” he expressed.

This commitment extends beyond real estate transactions. Gale spearheads fundraisers and donation campaigns and provides his team’s moving truck for local nonprofits. Additionally, he serves as a member of the city/county Joint Workforce Housing Task Force, a board member of the Wilmington REALTORS® Foundation, and a board member of the local American Red Cross.

Gale emphasizes that even small acts of kindness can have a profound impact. He believes in being a positive force for good, stating, “I feel driven to leave a positive impact.”

Turning Gratitude into Homeownership Opportunities

Sofia Crisp understands the transformative potential and gratitude of homeownership. In 1959, her parents purchased a home for $19,000 and converted it into a duplex. Through financial management and savings from rental income, they steadily built wealth.

“My brothers and I all went to college loan-free because they had bought that home,” says Crisp, founder, executive director and financial coach of the Housing Consultants Group, Greensboro, NC. She also serves as the 2023 president of the Greensboro Regional REALTORS® Association.

Twice a month, Crisp offers classes tailored to individuals interested in homeownership or seeking guidance on securing down payment assistance. Despite the challenges posed by the pandemic, inventory shortages, and affordability issues, these classes are consistently well-attended.

“Our goal is to keep people motivated and informed about the benefits of homeownership,” she emphasizes. Her teaching approach fosters hope and optimism, encouraging a ‘glass half full’ perspective. She perceives current inventory challenges as opportunities, granting individuals additional time for preparation. With improved credit scores and greater savings, they may gain better access to

“I do it because I like to make a difference, not because I’m looking for recognition,”

homeownership within the next three to six months.

“Maintaining a positive and genuine demeanor and sharing my personal journey uplifts their spirits,” remarks Crisp. “People thirst for knowledge, a value surpassing monetary worth. Practicing gratitude keeps you grounded and enables you to continually seek out the positives and share them with others.”

Crisp’s exceptional commitment to her profession was recently acknowledged when she received the National Association of REALTORS® 2023 Fair Housing Champion Award. Beyond her professional work, she actively involves her team in community engagement, participating in activities such as assisting the homeless, contributing to feeding programs, and adopting a school at the start of each academic year.

“In valuing others, you don’t take people for granted. However, this also requires setting aside time each day for personal reflection and contemplating how you can make a difference in someone else’s life,” she concludes.

Gratitude’s Role in Elevating Your REALTOR® Value

Building genuine connections with your clients is at the heart of successful real estate transactions. The Global Happiness Council’s research underscores the importance of vulnerability and authenticity in creating powerful human connections. By practicing gratitude and expressing appreciation for your clients, you create an environment of trust and openness that enhances the real estate journey for both parties.

The Deloitte Greenhouse study’s findings are another valuable reminder of the significance of expressing gratitude in your professional life. An overwhelming 85 percent of professionals desire simple acts of appreciation in their day-to-day interactions. As a REALTOR®, taking the time to thank your clients and provide them with opportunities for growth and learning can set you apart and strengthen your client relationships.

A study by the University of California, San Diego states that gratitude can also shrink heart failure risks. Additionally, Robert Emmons, professor of psychology at the University of California and a leading expert on the science of gratitude, writes that grateful people describe stronger positive emotions, experience more satisfaction with life, maintain higher vitality, and face lower levels of depression and stress.

Remember the words of our featured individuals—Grace Jones, Tom Gale, and Sofia Crisp. They embody the essence of gratitude in their respective fields and have achieved remarkable success by embracing it. Gratitude isn’t just about acknowledging what you have; it’s about sharing that feeling and positively impacting the lives of those you serve.

“My mother is 84 years old, and I talk to her three times a day,” Jones says. “We all get busy, but I always tell her I’m just grateful I ended up with her as my mother. I’m grateful she can walk to the car and go to a restaurant for lunch.”

Gale believes there are so many ways you can help people in small amounts of time or money. “You can be the person to deliver lunch to those at a Habitat for Humanity build. So many people assume they don’t have what is needed. But there’s nothing special about what I do,” he states.

“I feel driven to leave a positive impact.” Crisp says that gratitude is just being thankful for what you have been blessed with and realizing it is a gift and you aren’t owed anything. “Take that feeling and share it with others and get others to that point,” she comments. “You look at the world differently when you walk in gratitude.”

As a REALTOR®, you have the unique opportunity to guide your clients through one of life›s most significant decisions—buying or selling a home. By infusing your interactions with gratitude, you elevate your role, deepen your connections, and ultimately become a REALTOR® who is not just selling properties, but enhancing lives.

– Tom Gale, Coldwell Banker Sea Coast Advantages

– Sofia Crisp, Housing Consultants Group

The moment you get the clear to close.

Creating moments like this for over 20 years . . . and counting.

QUIZ legal

BY JOHN WAIT, GENERAL COUNSEL

These questions are based on weekly Q&As published in the REALTOR® Rundown between April 2023 and August 2023.

1. Do I have to use my correct name in advertising?

2. Is the listing firm entitled to a share of the Earnest Money Deposit if a buyer breaches the contract?

3. How do I properly execute a listing agreement to advertise a home as “coming soon”?

4. Does a landlocked landowner have a legal right of access to a public right-of-way?

5. Is it permissible for a broker-in-charge to be involved in a dual agency transaction? What about designated dual agency?

6. Is an email from a buyer’s agent, which is not actually signed by the buyer, sufficient to terminate a Form 2-T contract? Aren’t buyers required to use a termination form provided by NC REALTORS®, as opposed to an email, to terminate a pending contract?

7. What are pay-per-showing services?

8. How does a broker prove the existence of an oral buyer agency relationship?

9. Do REALTORS® outside the MLS have a duty to ascertain the terms of compensation prior to an offer being made?

10. Do the new contract termination notice forms give additional rights of termination to buyers and sellers?

Answers legal QUIZ

1.

Yes, with limited exceptions for some nicknames. When a broker fills out their initial application to be licensed, they must provide the Commission their legal name. The name provided is then later used to create the broker’s real estate license, which permits the broker to conduct brokerage activities. Following licensure, all advertising should use the legal name of the licensee, unless the broker has a nickname permitted to be used. For example, a broker named Robert could use the nickname “Bob” in their advertising since it is unlikely to cause confusion. In an opposite example, the nickname “Kevin” is not related to the real name “Mowgli” in a way where the name on the license can be linked to advertisements that contain the nickname. Weekly Q&A dated 4-6-23

4.

No. However, a landlocked land owner may seek access via a “cartway” in some circumstances. A cartway may be available if the owner is using the landlocked property for “the cultivation of any land or the cutting and removing of any standing timber, or the working of any quarries, mines, or minerals, or the operating of any industrial or manufacturing plants, or public or private cemetery, or taking action preparatory to the operation of any such enterprises.” A landlocked owner may also seek an implied easement by necessity in court to establish legal access. It is strongly suggested that legal counsel be employed to pursue either of these remedies.

Weekly Q&A dated 4-27-23.

5.

2.

3.

Yes. Paragraph 11 of the Exclusive Right to Sell Listing Agreement (Form 101) states that any Earnest Money forfeited by reason of a buyer’s default “shall be divided equally between the [listing firm] and the Seller.” Note that if the parties come to an agreement to terminate, or if the buyer terminates as of right during the Due Diligence Period, then the buyer will likely not be in default and the listing firm will have no right to the split. Listing agents are permitted to waive their right to the Earnest Money split if they wish. Weekly Q&A dated 4-13-23

When filling out Form 101, agents will want to pay particular attention to Paragraph 10 and fill in the blanks for the dates carefully. Paragraph 10(a) allows a broker to set the date when the property will begin to be marketed or advertised. This date is identified as the Marketing Date and can be the same date as the Effective Date identified in Paragraph 1(b) or some later date. Once the Marketing Date is established, listing agents and sellers should discuss and agree upon a date when the listing shall become “active.” Insert the date the listing will be changed from coming soon to active at the end of the paragraph beside the check box for “Coming Soon” Advertising within Paragraph 10(b). Agents should also fill out any applicable MLS forms for coming soon listings. Weekly Q&A dated 4-20-23.

6.

Yes, so long as the License Law is followed. If the standard agency agreements are used, a BIC can practice dual agency just like any other agent in the firm. This is because under the standard agency forms, certain information may not be transmitted to the other party in dual agency, even if known by the party’s agent. As to designated dual agency, a BIC may be a designated dual agent so long as the broker on the other side is a full broker and not a provisional broker. Rule .0104 expressly prohibits designated dual agency between a BIC and a PB. The reason for this rule is that a BIC must be able to supervise every aspect of a PB’s activities, which means the firewall between designated dual agents cannot be established.

Weekly Q&A 5-4-23

An email from a buyer agent, nothing else appearing, is not necessarily sufficient. We strongly encourage agents to use the standard unilateral termination forms provided by NC REALTORS®, which have new checkboxes to facilitate a valid termination. Real estate agents do not ordinarily have the authority to sign contracts on behalf of their clients, nor do they ordinarily have the authority to terminate those contracts. Without clear authority, the termination cannot be certain. Weekly Q&A dated 5-11-23.

7.

STUDY HARD

If you’re not doing so already, be sure to read the Q&As that appear in the REALTOR® Rundown every Monday. It’ll help you on the next quiz!

Answer: There are now platforms for buyer agents to solicit the help of other licensed agents to show their client a property while the buyer’s agent is unavailable. These new payper-showing platforms often enlist the help of agents outside the same firm. This can create questions, including but not limited to: (1) what duties does a broker owe the prospective buyers if they have knowledge of material facts on the home they are showing; (2) what duties does the broker owe both parties to the transaction if the broker has knowledge of the property gained by the fact that the listing agreement is with the showing agent’s firm, but the buyer is represented by another firm; and (3) what potential liability is there if the prospective buyer claims the showing agent missed material facts that should have been obvious to a reasonable agent showing the property? Firms should implement policies to address these questions and be sure to carefully review the terms of service for the platform used. Weekly Q&A dated 5-18-23.

10.

No, absolutely not. The new checkboxes are simply intended to close gaps in the current unilateral termination forms. Buyers and sellers often terminate a contract for reasons other than those addressed or allowed in the Offer to Purchase and Contract (Forms 2-T and 12-T). The terminating party may or may not have a legal basis for terminating. For example, a buyer who believes the seller has breached the contract in some material way may decide to terminate the contract. The fact that they are alleging the seller is in breach of contract does not make it so. The purpose of the new checkbox is to enable the buyer’s agent to provide a form that their buyer client may use to clearly communicate to the seller what they have decided to do. If the parties are unable to work out their differences, it would ultimately be up to a judge or jury to decide whether the buyer in fact had a right to terminate the contract and recover damages based on the seller’s alleged breach. Weekly Q&A dated 7-13-23

8.

9.

Verbal agreements can be proven by sworn testimony or an affidavit. They can further be evidenced by text messages and emails with the client which show that the agent was performing pursuant to an oral buyer agency agreement. Agents should also consider using the Confirmation of Oral Buyer Agency Relationship form, which can be found in the forms library under “Non-Standard Forms.” It is a sample letter that firms may modify to confirm an oral buyer agency relationship. Weekly Q&A dated 5-25-23

Yes. A REALTOR® who is acting as a cooperating broker is obligated by the Code of Ethics to ascertain the terms of compensation before beginning to accept an offer of cooperation. Submission of an offer to a listing firm would constitute such a beginning. See Standard of Practice 3-1 of the Code of Ethics. A REALTOR® outside an MLS is not entitled to the blanket cooperating compensation offered, and therefore any agreement as to compensation should be established prior to an offer being made on a property. Weekly Q&A dated 6-8-23.

LEGAL HOTLINE

NC REALTORS® have free, unlimited access to the NC REALTORS® Legal Hotline. Did you know one call to a real estate lawyer costs an average of $250 per hour? With just one call to the Legal Hotline, you’ve paid for one year of NC REALTORS® dues in full. Don’t waste your time stressing over forms, disclosure or landlord/ tenant law. Call the NC REALTORS® Legal Hotline to get quick resolution, so you can return to your clients and your business.

PHONE: 336.294.1415

EMAIL: legalhotline@ncrealtors.org

BY LEE NELSON

Lee Nelson is a freelance journalist from Illinois. She writes for REALTOR® Magazine, several state REALTOR® Magazines and websites, and loanDepot.com.

Ways to Master Real Estate Success

In the dynamic world of real estate, REALTORS® often find themselves navigating intricate and ever-changing challenges. The demands of the profession can be mentally taxing, leading to burnout if self-care and effective business habits are not prioritized. To thrive in this competitive field, successful North Carolina REALTORS® offer their insights on building better business habits, fostering industry connections, and investing in personal well-being. Here are their valuable tips:

Establish Consistent Routines

Michael Figura, the broker/owner of Mosaic Community Lifestyle Realty in Asheville, NC, believes that consistency is the key to a successful real estate career. Establishing daily routines, including self-care, is essential. He emphasizes the importance of starting the day with a focus on well-being and steering clear of caffeine during the first 90 minutes after waking up. Engaging in exercise, meditation and natural daylight exposure can boost productivity. However, Figura's ultimate advice is to remain consistently authentic and genuine when interacting with others, both in your personal life and within the real estate industry. Building trust and rapport goes a long way in establishing a thriving business.

Tackle the Tough Tasks First

"As simple as it sounds, one of the best pieces of advice I've ever gotten is to do the hard things first, and I still have to remind myself of that quite often," says Carol Bradley, broker/ owner of Bradley Real Estate and Development in Monroe, NC.

It's human nature to procrastinate on difficult conversations or decisions, such as delivering negative inspection reports or informing clients that they didn't secure a coveted property. Bradley's wisdom lies in recognizing that, despite initial apprehension, addressing these issues promptly results in better outcomes.

Embrace Personalized Organization

"I use technology as much as possible with calendar invites for reminders, todo lists, and more," Bradley states. "

And while technology plays a pivotal role in her daily routine, she also finds solace in traditional methods like colorful paper calendars. Old-school touches, such as brightly colored stickers highlighting special events or using different color gel pens, bring a sense of joy and organization to her professional life. "I put an airplane sticker on days that we will be flying out for a conference," she says. "It just makes me feel happy when things are bright and glittery."

Michael Figura

Broker/Owner, Mosaic Community Lifestyle Realty

Carol Bradley

Maintain a Strong Work Ethic

When Rich Manzi began in real estate in 2011, he spent hours in his home office on the computer, studying, looking at training videos and educating himself in every way possible. In a world that seeks instant gratification, he advocates for a return to the value of hard work.

"When people come into real estate from a full-time job, they think, 'I'm in control of my own schedule. No one is telling me what to do,'" says Manzi, broker-in-charge and co-owner of NextHome Triad Realty, Greensboro, NC and owner of NextLevel Building & Remodeling.

He acknowledges the allure of flexible schedules and self-directed work, which often attracts individuals to the real estate industry. However, Manzi emphasizes that maintaining internal motivation and dedicating oneself to the real estate business with the same diligence and dedication as a traditional job is crucial.

Foster Community Among REALTORS®

From the very beginning of his real estate career, Manzi recognized the value in joining the REALTOR® association and networking with other REALTORS® despite being competitors.

"It's important to build that community," he says. "The transaction is better when there is a trust and a relationship with one another."

The goal is to ensure that both buyers and sellers walk away satisfied, with a focus on cooperation rather than cutthroat competition.

Embrace Patience on Your Path to Success

Figura reminds fellow REALTORS® that success in the industry often requires time and perseverance.

"Somebody told me early on to not expect immediate success," he states. "You have to work consistently over a long period of time. And those who don't work at it, don't last."

While the pandemic saw an influx of new entrants who quickly turned profits in a hot market, the real estate landscape has shifted with dwindling inventory. Figura advises against expecting immediate success and emphasizes the need for consistent effort over an extended period. Building a reserve and recognizing that immediate cash flow may not be part of the equation in the initial years are essential components of a sustainable real estate career.

Manzi emphasizes that no magic program or magic lead can make your business thrive.

"You have to be a student all the time and absorb it all," he adds. "Integrity is probably something most important to me. The client experience and their satisfaction are more important than any one commission check."

[The] best advice on building good habits for improving business [is] by developing connections with those in the industry and outside of it, and investing in oneself for better health, mind and soul.

The

From insurance to taxes, your representatives make decisions that directly impact your wallet. That’s why the NC REALTORS® started the Homeowners Alliance.

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