Author Archive

28 Nov 2016

Legislative Update: SB 710 Clarifies Team Name Laws

Current California law requires the listing of the company name AND responsible broker’s license number on all team advertising materials, which was not the intent of legislators when they originally wrote the law.  If you are thinking about taking real estate classes in Los Angeles and joining a real estate team continue reading.   Enter Senate Bill 710, which changes the requirement from both the “name under which the responsible broker is currently licensed by the bureau” AND ...

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18 Oct 2016

Single Women—The Substantial (and Overlooked) Home-buying Demographic

Your intuition can probably tell you that married couples are the largest home-buying demographic. It makes sense: between family and financial goals and the purchasing power of two people, married couples have both the incentive and the means to purchase real estate. But married couples aren’t the only buyers. Single women make up the second largest buying demographic, ahead of single men and unmarried couples. According to the National Association of REALTORS® 2016 Home Buyer and Seller Ge...

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19 Sep 2016

Playboy Mansion Sold for $100 Million—But Hef to Stick Around

For those of you taking our Los Angeles real estate school, you might already know that the iconic Playboy Mansion has recently been sold for a staggering $100 million, half the original asking price, to Daren Metropoulos—son of billionaire investor C. Dean Metropoulos. But Hugh Hefner won’t leave just yet—the 90-year-old will pay $1 million per year to continue residing at the estate and has the right to do so until he passes away. We’ve all seen photos and heard stories of the propert...

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22 Aug 2016

RED ALERT – Assembly Bill 1381

Earlier this morning the California Association of Realtors sent out a “red alert” regarding Assembly Bill 1381. The frenzy was caused by a last minute change that would exempt some outdoor advertising companies from needing a real estate license. This could harm many Realtor’s businesses as this is an area of specialization for some. If this bill were to pass, two problems are created: First, while real estate licensees have a fiduciary duty toward their client, it isn’t immediate...

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14 Apr 2016

Selling Your Home With Solar Panels

On the surface, solar panels appear to be a great selling feature for a home. The prospect of lower utility costs are appealing to everyone and many buyers love the idea of “going green”. Because solar panels are increasingly common in residential real estate, the professional REALTOR should be properly informed as to the impact these panels can have on a transaction. According to the Solar Energy Industries Association the number of homes and businesses with solar panels has exceeded 748,00...

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04 Apr 2016

Drone photography in the real estate industry

Drones - also known as Unmanned Aircraft Systems (UAS) by the FAA - are being increasingly used for commercial purposes. Real estate professionals often want to use drones to improve their photography and videography - it’s undeniably sexy. Drones offer amazing visual perspective on property that would basically be impossible any other way. I know many of our real estate school students see videos on YouTube of listings and wonder how they can get cool aerial shots like this on their listin...

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31 Mar 2016

Are Realtors independent contractors or employees?

For tax, compensation and work hour requirements real estate salespeople have long been classified as independent contractors, not employees. It isn’t hard to see why brokers prefer this - they aren't required to reimburse for business expenses, provide health care benefits or pay the employer share of payroll taxes. It would cost brokers a great deal of money and completely change the real estate profession if agents weren’t contractors. In a recent class-action lawsuit Bararsani v. Cold...

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24 Mar 2016

Teams in Real Estate

I got my license in 2002 and have seen many real estate partnerships flourish and work well. I’ve also seen partnerships end in bitterness and hatred due to missed expectations and disappointment. One mentor of mine famously said “If partnerships were good God would have had one.” With that being said, your chances of being successful can (not will) increase if you find the right partner or get on the right team. Everyone has heard the saying “two is better than one” and if you want t...

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15 Mar 2016

Social media posts and the Realtor’s Code of Ethics

Good REALTORS® are used to thinking about the Code of Ethics. Beyond the ethical guidance it provides, it is also a professional obligation. But what about the application of the Code of Ethics as it relates to social media? While the Code is typically very clear, it's application to social media can be ambiguous. Between “private” accounts, character limits, and inexperience applying the code to online behavior, it is easy to forget the Code of Ethics or overlook some of its provision...

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05 Jul 2015

Not a citizen? No Green Card? No problem!

I received this email from the Bureau of Real Estate and I wanted to share it with all of our stakeholders. This is to inform you that all individuals who submit an application for a real estate license received on or after January 1, 2016 will no longer need to submit proof of legal presence in the United States. On September 28, 2014, the Governor signed Senate Bill 1159 (Lara, Chapter 752, Statutes of 2014), which adds Section 135.5 to the Business & Professions Code (BPC), changing the le...

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