THE PATH FORWARD - 14 A HISTORY OF NAREB 22 "OPEN DOORS" SURVEY RESULTS 34 THE LOCAL/STATE CONNECTION
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VOLUME LV NUMBER 2 / FEBRUARY / MARCH 2021
THE PATH
FORWARD
mdrealtor.org / marylandhomeownership.com
14 A HISTORY OF NAREB
22 “OPEN DOORS” SURVEY RESULTS
34 THE LOCAL/STATE CONNECTION
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TABLE OF CONTENTS
FEATURES
2021 LOCAL BOARD
INSTALLATIONS 10
A NAREB HISTORY:
CHRONICLING THE STRUGGLES
OF AFRICAN AMERICANS
IN REAL ESTATE 14
2021: AN ECONOMIC OUTLOOK 18
OPEN DOORS: RESULTS FROM
A LANDMARK STUDY
OF HOUSING 22
DEPARTMENTS
PRESIDENT’S PERSPECTIVE 4
14
REALTOR® TALK 5
COVID HEROES 8
SELL MORE WITH MARYLAND 28
A NAREB HISTORY: CHRONICLING THE STRUGGLES
OF AFRICAN AMERICANS IN REAL ESTATE FROM THE HOTLINE 30
CEO CORNER 32
INDUSTRY VIEW 34
BRIGHT MLS 35
BY THE NUMBERS 36
REALTOR® TALK
6 30
FROM THE HOTLINE
34
INDUSTRY VIEW
www.mdrealtor.org MARYLAND REALTOR® FEBRUARY / MARCH 2021 1
2020 Maryland REALTORS®
Leadership Team
REALTORS®
Maryland REALTORS®
200 Harry S Truman Parkway | Suite 200
Annapolis, MD 21401-7348
443.716.3500 | www.mdrealtor.org
Leadership Team
Dee Dee Miller Craig Wolf Dee Dee Miller | President
President President-Elect Craig Wolf | President-Elect
Long & Foster Real Estate American Home Shield Dale Ross | Treasurer
541B Baltimore Annapolis Boulevard 907 Autumn View Court Yolanda Muckle | Secretary
Severna Park, MD 21146 Bel Air, MD 21014 John A. Harrison | Immediate Past President
443-995-2297 443.643.6742 Chuck Kasky, RCE | Chief Executive Officer
deedee@lnf.com cwolf@ahslink.com
Editor
Daniel Patrell | dan.patrell@mdrealtor.org
Advisory Committee
Marilyn Rhodovi | Chair
Amanda Smith | Vice Chair
Advertising
Arlene Braithwaite | 410.772.0820
Publication Design
HBP, Inc., 952 Frederick Street, Hagerstown, MD 21741
800.638.3508 | www.hbp.com
Yolanda Muckle Dale Ross Mission Statement
Secretary Treasurer Maryland REALTORS ® exists to support all segments of its
Long & Foster Real Estate Pioneer Realty, Inc. membership and their specialties. Maryland REALTORS®, through
12220 Central Ave. 7917 Declaration Lane collective efforts with local boards/associations and the National
Mitchellville, MD 20721 Potomac, MD 20854 Association of REALTORS®:
301-249-1600 301.466.1067 ■ Develops and delivers programs, services and related products
yolanda.muckle@lnf.com daleross1067@gmail.com that maintain and elevate the high standards of the real estate
business and the professional conduct of its practitioners;
■ Assists members in ethically and professionally serving the public;
■ Promotes and preserves the right to own, transfer and use real
property; and
■ Protects the right of members to conduct business within a
framework of fair and reasonable laws and government
regulations.
In principle and in practice, Maryland REALTORS® values and seeks
diversity and inclusive participation within the field of real estate and
recognizes each member as a unique individual.
Maryland REALTOR® (USPS 0016-017) is published bimonthly by Maryland REALTORS®, Suite 200,
200 Harry S Truman Parkway, Annapolis, MD 21401-7348. Periodical postage paid at Annapolis
John A. Harrison Chuck Kasky, RCE and additional mailing offices. Postmaster send address changes to: Maryland REALTOR®, Suite 200,
200 Harry S Truman Parkway, Annapolis, MD 21401-7348.
Immediate Past President Chief Executive Officer Member subscriptions of $3.81 are paid with annual dues.
This publication is designed to provide accurate and authoritative information regarding the subject
RE/MAX Executive Maryland REALTORS® matter covered. It is offered with the understanding that the publisher is not engaged in rendering
professional advice. If legal advice or other expert assistance is required, the services of a competent
8432 Veterans Highway, Suite A 200 Harry S Truman Parkway, Suite 200 professional should be sought. Articles that appear in Maryland REALTOR® are an informational
service to members. Their contents are the opinions of the authors alone and do not necessarily
Millersville, MD 21108 Annapolis, MD 21401 represent those of Maryland REALTORS®.
443.274.1900 800.638.6425 Permission to reprint articles appearing in Maryland REALTOR® magazine must be requested in
writing. Also include purpose for request.
johnh@remax.net chuck.kasky@mdrealtor.org While this magazine makes a reasonable effort to establish the integrity of
its advertisers, it does not endorse advertised products or services unless
specifically stated. ©2021 Maryland REALTORS®, Inc.
2 MARYLAND REALTOR® FEBRUARY / MARCH 2021 www.mdrealtor.org
STAR
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President’s Perspective BY DEE DEE MILLER
The Path Forward
I
saw a sign the other day. It read, “2021: the only time that we as a society and as individual REALTORS® don’t
that hindsight is truly 2020.” What’s funny about it make the same mistakes that have been made before.
is the truth it conveys on a couple different levels. Finally, I’d like to bring some attention to a recent
Indeed, 2020 is in our rearview mirror. The path forward addition to this magazine, a column we’re calling
begins now, in 2021. “Industry View,” where we invite a member of Maryland
This is why I am especially happy with this issue of REALTORS® to provide a perspective on a topic of
Maryland REALTOR® magazine. Within the pages that interest to all. I was so happy to see Page Browning,
follow, we look forward by celebrating a few of the Executive Vice President of the Coastal Association of
installations of the 2021 local boards throughout the REALTORS®, author this issue’s column, and her topic,
state. Also, we tasked our friends at the Sage Policy the relationship between local boards and the state
Group to provide our members with an economic outlook association, couldn’t be timelier.
into this new year (here’s the punchline: 2020 is behind At the beginning of her column, Page writes, “Local
us but challenges ahead remain). associations offer education, networking, events,
Our Senior Vice President for Government Affairs, Bill recognition, and advocacy for initiatives in our immediate
Castelli, writes about the invaluable insight into the minds area. But behind the scenes we often work with the
of Marylanders from a recent survey on housing issues. state association, Maryland REALTORS®, to enhance
I encourage you to read Bill’s story and the results these programs.”
from the survey our recent “Open Doors to Stronger Page couldn’t be more correct. As one who has risen
Neighborhoods” campaign. This was an independent in the ranks of governance (starting first at the Anne
survey taken of Maryland residents, and it provides some Arundel County Association of REALTORS®), I’ve
insight that will help Maryland REALTORS® promote witnessed the benefits of this local-state relationship.
policies that can help to open housing opportunity for all. New ideas, needs for necessary action, challenges one
And, interestingly, we look forward on issues that this region faces: these things percolate up from the local
industry has long grappled with—equity in housing boards and often inform decisions at the state level. This
opportunity as well as well as equity in opportunity for happens because of the strength of the communication
real estate agents of color—by exploring the history of between the local boards and the state association,
NAREB, the National Association of Real Estate Brokers, which Maryland REALTORS® encourages through active,
established in 1947, when African Americans endured statewide, volunteer participation in its activities and on
sanctioned forms of segregation. A group of 12 formed the its many committees.
association, which dedicated itself to fair housing for all. Am I looking forward to new possibilities and
The story was authored by NAREB’s Baltimore Chapter’s opportunities this year? You know it, and I look forward
president, Robin Abney-Spivey, and she provides an to you joining me, our local boards, and Maryland
honest portrayal of how things were and what NAREB REALTORS® on the exciting journey ahead.
does today to ensure fair playing field. It’s important, when
looking to the future, to review our history, to make sure
Dee Dee Miller is Maryland REALTORS®’ 2021 President
4 MARYLAND REALTOR® FEBRUARY / MARCH 2021 www.mdrealtor.org
REALTOR® Talk
We Want
You! …
To Run
for Office. ELECTION PROCESS
Here’s how! 1 5
Calling out to all future
leaders of Maryland
REALTORS®. If you’re
interested in leadership
positions with Maryland
REALTORS®, make sure
6
to check out our updated
elections process. Visit
2
http://bit.ly/mdrealtors_
elections.
3 7
To help you with your
planning, here are
step-by-step guidelines.
4
8
Visit our website, mdrealtor.org to learn more
continued on page 6
www.mdrealtor.org MARYLAND REALTOR® FEBRUARY / MARCH 2021 5
At Home with Diversity
Virtual Class
Coming Soon!
Please join REALTOR® and Educator Brenda Kasuva
on February 23 and 25 for her online course, At Home
with Diversity. This course teaches REALTORS® how to
work effectively with—and within—a rapidly changing
multicultural market. Diversifying your clientele means
learning the practical skills and tools to expand
business and effectively service all cultural groups.
This certification addresses issues of diversity, fair
housing, and cultural differences.
“This is an essential course,”
explained Kasuva. “Course
participants will develop an
awareness of cultural and
personal biases that may
inhibit us from fully embracing
The cost is only $25 for the two-day course, and
diversity and creating a
the benefits gained immeasurable. For more
successful multicultural real
information visit https://www.mdrealtor.org/AHWD.
estate business.”
Save the Dates! Maryland REALTORS ’ ®
Annual Conference Returns!
The Annual Conference for Maryland REALTORS® will The theme is “Changing It Up!” and we’re taking that to
be held at the Clarion Resort Fontainebleau Hotel in heart with a complete reimagining of the event. The fact
Ocean City, Maryland, October 12–14, 2021. Yes, that we’re meeting live rather than virtually represents
we’re planning an IN-PERSON another way we’re “changing it up,” on how we’ve done
gathering! So, if you want to things for the past year.
make plans to peel yourself
away from your Zoom zcreen More details to come, including outstanding
and don some clothing that’s keynote speakers, programming, and networking
not sweatpants, then we want to opportunities. Interested in sponsoring?
see you! Email dan.patrell@mdrealtor.org.
6 MARYLAND REALTOR® FEBRUARY / MARCH 2021 www.mdrealtor.org
Getting Real with Maryland REALTORS ’ CEO ®
Have you downloaded it yet? Have you subscribed As of publication, “Get Real Estate” has already
through your favorite podcast app? featured 2021 President Dee Dee Miller (its inaugural
episode), Maryland REALTORS®’ Senior Vice President
What are we talking about? It’s
for Government Affairs Bill Castelli, and NAR CEO
“Get Real Estate,” Maryland
Bob Goldberg.
REALTORS®’ new podcast
hosted by its CEO, Chuck Kasky.
Each episode runs 30 minutes, and a new
“I’m very excited about the
episode will be available every two weeks.
addition of our podcast, as it
Even better, it’s available wherever you get your
represents a brand-new way to
podcasts, including iTunes, Spotify, Google,
reach our members,” said Kasky.
Stitcher, and more. It’s also available through this
“It allows our members to hear
link: https://www.buzzsprout.com/1418038.
from industry leaders who are
experts on a variety of topics,
from mortgage programs to fair Subscribe, listen, enjoy, and as most every podcast asks:
housing issues, to updates on Please leave a five-star rating!
legislation and regulation.”
Important Guidance Updates from NAR
COVID-19: Vaccination Guidance
NAR has provided comprehensive guidance for COVID-19 ■ Employers cannot exclude high-risk individuals
vaccinations. Key takeaways include: involuntarily from the workplace.
■ Employers can require that employees receive the ■ Employers can require employees to adhere to
COVID-19 vaccine before returning onsite. additional protective measures.
■ Employers may be required to make exceptions to ■ Employers can require all individuals who come
a mandatory vaccination policy. on-site to provide proof of vaccination.
■ Employers should require employees to obtain the ■ Employers can require attendees at in-person
vaccination off-site. events to provide proof of vaccination.
■ Employers can require employees to provide proof
of a COVID-19 vaccination. You can find the complete guidance here:
http://bit.ly/mdrealtor_COVIDVac.
■ Employers must keep all employee medical
information confidential.
continued on page 8
www.mdrealtor.org MARYLAND REALTOR® FEBRUARY / MARCH 2021 7
Code of Ethics: No More Hate Speech
NAR’s Board of Directors overwhelmingly approved a applicable to all of a REALTORS®’ activities, not just to
series of changes to Article 10 of its Code of Ethics. real estate-related activities and transactions.
Article 10 prohibits discrimination on the basis of Finally, the Board approved a revision to NAR’s Bylaws,
race, color, religion, sex, handicap, familial status, expanding the definition of “public trust” to include
national origin, sexual orientation or gender identity in all discrimination against the protected classes under
a REALTOR®’s provision of real estate services and in a Article 10, together with all fraud. State and Local
REALTOR®’s employment practices. REALTOR® Associations are now required to share final
Effective immediately: REALTORS® must not use decisions in Ethics proceedings with the state real estate
harassing speech, hate speech, epithets, or slurs based licensing authority, in our case the Maryland Real Estate
on race, color, religion, sex, handicap, familial status, Commission, where the hearing panel found a violation
national origin, sexual orientation, or gender identity. of the public trust.
The Board also approved a change to Policy Statement
You can find a complete FAQ about the updates
29, Code of Ethics and Arbitration Manual. Revised
here: http://bit.ly/NAR_COE.
Policy Statement 29 makes the Code of Ethics
HEROES
IN THE FIGHT AGAINST COVID-19
Maryland REALTORS® would like to recognize the many REALTORS® who are helping their community in fighting the
coronavirus pandemic. Thank you for all you do!
Celebrating a REALTOR® pandemic intensified at the end of
and a Critical Care Nurse 2020, Shelley served as a nurse in
the Johns Hopkins Medical Intensive
As we all are aware, we are not out
Care Unit, to help COVID patients
of the shadow of this COVID-19
who are fighting for their lives.
pandemic yet. Some, like one of our
members, is jumping to the front Shelley balances her nursing skills
line of critical care for patients. with an active, full-time career as a
REALTOR® and real estate investor.
Sabrina Shelley, a REALTOR®
affiliated with the Greater Baltimore Maryland REALTORS® would like to
Board of REALTORS® and Keller thank Shelley for her work in coming
Williams Metropolitan, also works to the aid of those afflicted with
as a critical care nurse. As the COVID-19. Sabrina Shelley
8 MARYLAND REALTOR® FEBRUARY / MARCH 2021 www.mdrealtor.org2021
GRI Program
The GRI (Graduate, REALTOR® Institute) designation is NAR’s nationally recognized designation, which
is administered through state associations. The Maryland program consists of 72 hours, broken into two
36-hour series (i.e. Series 100 and 200). Series 100 and 200 can be taken in any order and can be
taken anywhere within Maryland to suit your personal calendar. Series 100 & 200 features
six modules, each six hours in length. Each module may be taken independently.
Class topics range from fair housing, agency, It’s never been a better time to sign up for GRI! See the
finance, business development, ethical conduct, Maryland REALTORS® course offerings below.
and laws affecting business practice, and To register visit mdrealtor.org/education/programs/
procedures to strengthen your skills and your realtor-institute-GRI.
business for a well-rounded real estate foundation.
LOOK WHAT YOU GET:
You have five years to complete the 72-hour • Nationally recognized credibility
program (Series 100 and 200) to obtain • Professional speakers
the designation. • Continuing education credits
Maryland REALTORS® offers the additional • Increased knowledge, skill, and professionalism to
Series 300 & 400 for those interested in better serve customers and clients
pursuing their broker’s or associate broker’s • Increased income potential
license. Series 300 & 400 consist of four days • Sets you apart from the competition
each. When you complete all four series, you • Increased visibility toward your commitment to
will meet the education requirements to sit provide superior professional services
for the broker/associate broker’s exam. • Educational credit toward Maryland’s Broker or
Associate Broker’s license
EARN YOUR GRI – WORK SMARTER, NOT HARDER! NO ANNUAL DUES!
SERIES 100 SERIES 200 SERIES 300 SERIES 400
Maryland REALTORS® Maryland REALTORS® Maryland REALTORS® Maryland REALTORS®
Annapolis Annapolis Annapolis Annapolis
Virtual Virtual Virtual Virtual
March May January February
23, 24, 30, 31 4, 5, 10, 12, 18, 20, 25, 27 19, 21, 26, 28 16, 18, 23, 25
April June February March
6, 7, 13, 14, 20 21, 27 & 28 1, 2, 8 & 9 2, 4, 9 & 11 2, 4, 9 & 11
To learn more, go to
mdrealtor.org/Education/
Programs/Realtor-Institute-GRI
or scan this QR code.Local Board Leadership 2021
Congratulations to the new leadership
throughout the state!
Maryland REALTORS® is proud to congratulate the new leadership at our Local REALTOR® association partners
throughout the state. In this issue, we celebrate the boards of seven local associations. We expect to celebrate the
remaining local boards in the next issue of Maryland REALTOR® magazine.
Bay Area Association of REALTORS®
Above: Taking the Oath (left to right): Linda Austin, Kevin Waterman, and Sue Hitt. Top right: Taking the Oath (left to right): Ed Beres, Crystal
Smith, and Terri Murray. Bottom right: The Bay Area’s new President Kevin Waterman, with Maryland REALTORS® President Dee Dee Miller.
The entire Bay Area association’s Board of Directors includes: Crystal Smith, Matt Hogan, Linda Austin, Kristina Hyland, Ryan Eber, Connie
Fallon, Biana Arentz, Sue Hitt, and Cheryl Hurt.
Carroll County Association of REALTORS®
Above: Swearing in the Board (left to right): Patricia Martin,
Jeanne Vargo, Sandra Jenkins-Blackburn, Lindsay Nichols,
Joe DeLuca, Kathy Cheatham, Barbara Ringrose, Terry
Bass, Dee Dee Miller, Mike Carney, Phyllis Adam, Lauren
Bumstead, Joanie Hynes, Gina Adolph, Joseph Stephens, and
Brian Lipsky. Right: Yvette Rippeon (right) with Maryland
REALTORS® President Dee Dee Miller and CEO Chuck Kasky.
Far right: Denise Lewis recited the Presidential Oath to the
association’s new president, Yvettte Rippeon.
10 MARYLAND REALTOR® FEBRUARY / MARCH 2021 www.mdrealtor.orgCoastal Association of REALTORS® Front row (left to right): Cameron Drew, Joni Williamson (Coastal Association President), Grace Masten, and Lauren Bunting. Back row (left to right): Joseph Wilson, Terrence McGowan, Brandon Johnson, Brigit Taylor, Jackson St. Jean, Steven Parsons, Austin Whitehead, and Colby Phippin. Garrett County Association of REALTORS® Left (left to right): Larry Smith, Nick Fratz-Orr, Terah Crawford (2021 President), Amy Sharpless, Julie Mead, and Bob Carney. Right: Taking the Oath (left to right): Maryland REALTORS® President Dee Dee Miller, Bob Carney, 2021 President Terah Crawford, Nick Frat-Orr, Larry Smith, Amy Sharpless, and Julie Mead. Howard County Association of REALTORS® Above: Taking the Oath (left to right): Terry Healy, Alan Grubb, Kelli Hillmar, Anita Kestel, Piet de Dreu, Rachel Oslund, and Sarah Anderson are sworn in by REALTOR® and Motivational Speaker Leigh Brown. Top right: HCAR’s 2020-2021 President Shirley Matlock is sworn in by REALTOR® and Motivational Speaker Leigh Brown. Bottom right: Presenting the 2020-2021 HCAR Board of Directors (left to right): Robbyn Harris, Cleveland Horton, Sarah Anderson, Alan Grubb, Anita Kestel, Terry Healy, Lisa Wissel, Brooke Romm, Piet de Dreu, Kelli Hillmar, Rachel Oslund, 2020-2021 President Shirley Matlock, and Joe Bird. www.mdrealtor.org MARYLAND REALTOR® FEBRUARY / MARCH 2021 11
Mid-Shore Board of REALTORS®
Left: The Mid-Shore Board, front row (left to right): Dennis Covey, Lori McDonald, Laura Anderson (2020-2021 President), Leslie Stevenson,
Traci Jordan, Gwen Eskridge, and Shelby Roney-Treasurer. Back row (left to right): Mike Dillon, Rodney Bliss, and Megan Rosendale.
Right: Maryland REALTORS® Leadership Welcomes the new Mid-Shore President (left to right): Maryland REALTORS® President-Elect
Craig Wolf, Maryland REALTORS® President Dee Dee Miller, Mid-Shore President Laura Anderson, Maryland REALTORS® Secretary Yolanda
Muckle, and Maryland REALTORS® Immediate Past President John Harrison.
Prince George’s County Association of REALTORS®
Top left: The 2021 PGCAR Board. Top right: PGCAR’s Installation of 2021 Officers (left to right): Melanie Gamble, Rachel Jefferies, Carlos
Lancaster, and Yolanda Muckle. Bottom left: PGCAR’s Installation of 2021 Directors (left to right): Dee Barino, Ken Fagan, Donny Frederick,
Arnita Greene, Pamela D. Jenkins, Rahkiya Reid, Willie Rhone, and Gene Sementilli. Bottom right: Former Maryland REALTORS® President Boyd
Campbell installs PGCAR 2021 President Shameeka Price.
12 MARYLAND REALTOR® FEBRUARY / MARCH 2021 www.mdrealtor.orgAS AN EXCLUSIVE MEMBER BENEFIT, YOU HAVE ACCESS TO THE
LegaL HotLine
(443) 716-3502
• The Legal Hotline is available to all members
• Speak with an attorney live 3 days a week
• Submit questions on-line on our website 24/7
Live: On-Line: WhO can caLL? What can i ask?
http://bit.ly/MDRLegal Any member who is the: • Contracts questions
Call 443-716-3502
• Agent • Addenda and Inspection
Open on Monday, questions
Wednesday and Friday • Office Manager
• Forms questions
• Broker • Questions involving
Hours of Operation:
general legal information
10:00 am - 12:00 pm
2:00 pm - 4:00 pm • Licensing questions
• General questions about
real estate transactions
There is no limit to how many times you can use this service. It’s here for you.
www.mdrealtor.org MARYLAND REALTOR FEBRUARY / MARCH 2021
®
13
The Maryland REALTORS® Legal Team is here to help.Fair Housing for All
Exploring the roots of NAREB
BY ROBIN ABNEY-SPIVEY
F
ebruary is Black History month, a time for all to
reflect, re-examine history, and recognize those who
have made tremendous strides for the betterment
of African Americans. It is also a time to ask yourself,
has anything changed? To move forward in life, you must
always know from whence you came.
I am writing you as president of The Real Estate Brokers
of Baltimore (REBB). REBB is the Baltimore chapter of
the National Association of Real Estate Brokers (NAREB).
For 10 years, I have been a member of NAREB. At the
national level, I have served as Secretary, First Vice
President, Second Vice President, and President.
Today, as president of REBB, I would like to share with
you some of the questions asked of me about NAREB Above: REBB & National President Daniel Spaulding with Maryland
and our local chapter. Despite being around for more Congressman Parren Mitchell. Right: A Baltimore “redlining” map,
circa 1937. Federal agencies deemed certain areas as “hazardous”
than 70 years, many REALTORS® and real estate
for lending purposes, based largely upon the presence of African
industry professionals have not heard of NAREB. Americans. These government policies created patterns of
segregation and discrimination, whose effects continue to this
day. Image courtesy of Johns Hopkins Sheridan Libraries and
A Deep History University Museums.
People often ask about NAREB and its mission, or they to sell real estate in areas they serve today. In the late
have asked why the organization was formed in the first 1940s Black real estate professionals were not allowed
place. I’ve been asked, “Is NAREB exclusively for African to join the National Association of REALTORS®.
Americans?” Others want to know who is a “Realtist,”
The formation of NAREB allowed Black real estate
and what this term means.
professionals to join a trade association; its members
NAREB was formed in Tampa, Florida, on July 29, became known as “Realtists.” While African Americans
1947. In this era, African Americans still faced make up the large majority of NAREB membership,
segregation, despite a ruling from the Supreme Court all real estate professionals who believe in and are
that restrictive covenants and private agreements committed to a vision of democracy in housing are
that excluded people of a particular race from the welcome. As such, the association includes members
ownership of real property was not enforceable. To who are both REALTORS® and Realtists. Regardless,
respond to these challenges, one woman and eleven without the formation of NAREB, Black real estate
men from seven states convened in Tampa and professionals would not have been afforded the
dedicated themselves to fair housing for all. opportunity to sell real estate in areas they serve today.
Had it not been for the formation of NAREB, Black real
estate professionals would not have had the opportunity
14 MARYLAND REALTOR® FEBRUARY / MARCH 2021 www.mdrealtor.orgwww.mdrealtor.org MARYLAND REALTOR® FEBRUARY / MARCH 2021 15
slightly lower than the 26.8% gap in 1960, before the
“According to the most recent passage of the 1968 Fair Housing Act.
SHIBA report, the current rate of NAREB believes that opportunities for homeownership
home ownership for Blacks is 47% exist despite these ongoing challenges and that
everyone must play a vital role in building black wealth
compared to 73% for non-Hispanic through homeownership. Throughout its history,
white households.” the association has worked tirelessly advocating for
democracy in housing. NAREB played an influential
role in the implementation of equal rights, fair housing,
equal opportunity, and community development
A Proactive Organization legislation at the local, state, and federal levels. Some
NAREB’s dedication to fair housing for all includes significant policy achievements of NAREB were the
enhancing the economic conditions in the communities first local fair housing legislation (1962) in New York
where Realtists serve—in addition to enhancing the City, the first state fair housing legislation (1963) in
economic outlook for its members. These ideals serve California, and the first national fair housing legislation
as testaments to NAREB’s purpose. In support of (1947 and again in 1968). Today, NAREB is led by its
this, members receive extensive training at mid-winter thirty-first president, Donnell Williams from Morristown,
conferences and annual conventions. Members can also New Jersey.
engage in advocacy efforts with the Congressional Black The Baltimore chapter, formed in 1948, provides
Caucus, including the annual presentation of NAREB’s financial literacy information, offers home buying
State of Housing in Black America (SHIBA) report. seminars and continuing education classes, while also
According to the most recent SHIBA report, the current helping families in the community and engaging with
rate of home ownership for Blacks is 47% compared elected officials. Individual members of REBB have
to 73% for non-Hispanic white households. The Black- made major contributions in the pursuit of democracy
White homeownership gap in 2020 was 26%, only in housing. This includes work that spearheaded the
abolition of the “sign ban” in Baltimore City, when “For
Sale” signs were not allowed in certain neighborhoods.
Three presidents from the Baltimore chapter—Daniel
Spaulding, H. Bernie Jackson, and Donnell Spivey—
advanced to become NAREB national presidents.
Impacting Communities Today
COVID-19 has significantly impacted communities of
color. To address this, REBB held a panel discussion
with Baltimore City Councilman Julian Jones, Jr.,
about the impact of COVID-19 in our community. A
second panel discussion with the Councilman, real
estate professionals, lenders, and others took place in
Baltimore to discuss the state of Black homeownership
in Baltimore. Because of COVID’s impact on families,
REBB also partnered with the Baltimore Hunger Project
NAREB Past Presidents with Lee Brendsel, Chair Freddie Mac and provided holiday gifts for 34 families.
16 MARYLAND REALTOR® FEBRUARY / MARCH 2021 www.mdrealtor.orgHUD Secretary & Congressman Jack Kemp with NAREB First
“The quest for home ownership is the
Female President Evelyn Reeves signing the Affirmative Marketing
Agreement with HUD
American dream. For people of color,
this continues to be “dream deferred”
because of race discrimination, housing, poverty, and gentrification. NAREB has more
than 90 chapters across the country, and each chapter
gender discrimination, lender will continue to advocate for democracy in housing. It
discrimination, lack of affordable is my hope that NAREB—its history, purpose, and its
housing, poverty, and gentrification.”
actions moving forward—will resonate with everyone
about the importance of democracy in housing matters.
Is democracy in housing important to you? If, so,
consider joining our local chapter and helping us
As the current President of REBB, my vision includes: continue the fight for democracy in housing for all.
■ Increasing our membership.
■ Educating consumers about the importance of
home ownership and providing resources and Robin Abney-Spivey serves as
President of the Real Estate Brokers
tools that can help consumers along the path
of Baltimore, a chapter of the
toward homeownership.
National Association of Real Estate
■ Working with elected officials to find solutions Brokers. To learn more about joining
for issues in communities of color. the organization please visit
■ Partnering and cultivating relationships with MDRealtist.com.
other real estate associations.
The quest for home ownership is the American dream.
For people of color, this continues to be “dream
deferred” because of race discrimination, gender
discrimination, lender discrimination, lack of affordable
www.mdrealtor.org MARYLAND REALTOR® FEBRUARY / MARCH 2021 172021: The Challenges Ahead
2020 may be behind us, but other issues
may rise, post-COVID
BY ANIRBAN BASU, SAGE POLICY GROUP
Residential Market continuing to dwindle toward Instead, the opposite happened.
unimaginable lows. Sharp declines in mortgage rates,
Surges Despite an urge to social distance more
Then came March and April.
and Because of Within weeks, the world turned thoroughly, greater requirements
Pandemic upside down. By April, national for space as people spent more
unemployment had climbed time in their residences, the
coming of age of Millennials, and
The Suburbs Win Big toward 15 percent as the nation
lost 22 million jobs over the the desire for room enough for
Last year was predicted to be a dedicated home offices resulted in
March-April timeframe. The
good one for the U.S. housing surging demand for homes. While
presumption among many was that
market. The nation strode boldly apartment rents crashed in many of
the pandemic, which brought the
into 2020, adding more than America’s most expensive housing
U.S. economy to its knees by April,
200,000 net new jobs in both markets, suburban home prices
would end the housing market’s
January and February. The tilted higher. Builders responded
bull run as job losses, a collapsing
unemployment rate dipped to by applying for more single-
stock market, tighter lending
a 50-year low. Many business family permits, with homebuilder
standards, and depleted incomes
operators complained that if confidence reaching an all-time
dried up demand.
anything they were too busy and high in America by August.
couldn’t secure new and productive
workers easily. Wages expanded
as the scarcity of human capital
mounted. All the while, inflation “While many will wish 2020 good
and interest rates remained benign.
This was, it appeared, a near-
riddance, there are reasons to believe
perfect setup for solid housing that 2021 will also usher forth its fair
market performance in 2020. The
issue was not demand, which was share of challenges.”
expected to be strong, but supply,
with the inventory of unsold homes
18 MARYLAND REALTOR® FEBRUARY / MARCH 2021 www.mdrealtor.org1-Month Net Change
-1.0
1.0
3.0
5.0
7.0
9.0
11.0
13.0
15.0
UR (%)
-6,000
-8,000
-4,000
-2,000
6,000
8,000
Nov-02
4,000
0
2,000
May-03 Nov-00
Nov-03 May-01
www.mdrealtor.org
May-04 Nov-01
May-02
Nov-04 Nov-02
May-05 May-03
Nov-05 Nov-03
May-04
Source: Bureau of Labor Statistics
May-06
Source: Bureau of Labor Statistics
Nov-04
Nov-06 May-05
May-07 Nov-05
May-06
Nov-07
Nov-06
May-08 May-07
Nov-08 Nov-07
May-08
May-09
Nov-08
Nov-09 May-09
May-10 Nov-09
Nov-10 May-10
Nov-10
May-11 May-11
Nov-11 Nov-11
May12 May-12
Nov-12
Nov-12 May-13
May-13 Nov-13
Nov-13 May-14
Nov-14
May-14 May-15
Nov-14 Nov-15
May-15 May-16
Noc-16
Nov-15 May-17
May-16 Nov-17
Maryland
Nov-16 May-18
+25,596 Jobs
November 2020:
Nov-18
May-17
May-19
Nov-17 Nov-19
May-18 May-20
Nov-20
Nov-18
0
U.S.
May-19
Nov-19
100,000
200,000
300,000
400,000
-400,000
-300,000
-200,000
-100,000
May-20
Exhibit 1. Maryland Monthly Job Growth, Seasonally Adjusted (SA), November 2000–November 2020
Nov-20 (April 2020–November 2020)
Exhibit 2. U.S. and Maryland Unemployment Rate (Seasonally Adjusted), November 2002–March 2020
MARYLAND REALTOR® FEBRUARY / MARCH 2021
19Maryland’s sales price was up 11.4 percent,
standing at $354,416 in November.
resulting in more business closures,
failures, and layoffs.
Housing Market Median sales price was up 12.2 There’s more. Low interest rates
Enters 2021 with percent. The surging demand for have formed the glue that has
Momentum homes, including in more rural helped keep the U.S. economy
areas that have become more together in recent years,
With its large base of federal
appealing in the era of remote particularly the housing market.
workers, white collar professionals
work, has served to diminish Those Americans able to retain
able to work remotely, and medical
months of inventory from 3.1 their jobs and who have also
researchers, Maryland was
months in 2019 to a miniscule 1.2 experienced enhanced wealth
positioned to handle the crisis
months more recently. via the rising valuations or homes
better than many communities.
Indeed, only 13 states lost a While many will wish 2020 good and equity portfolios during the
smaller proportion of their pre- riddance, there are reasons to pandemic have leveraged low rates
existing job base than Maryland believe that 2021 will also usher in many ways, including purchasing
over a recent 12-month period. forth its fair share of challenges. vehicles, jewelry, appliances,
The early months of the year will furniture, second homes and more.
The ability of Maryland’s economy
be stressful for many despite the For younger families, low interest
to persevere more than most is
recent passage of another stimulus rates have been an empowering
consistent with its robust housing
package by Congress in December. force to transition from renter to
market performance. According
The $900 billion stimulus will help homeowner status.
to Maryland REALTORS® in
bolster the demand side of the However, the especially brisk
November, the latest month for
economy, but rampant viral spread recovery anticipated during the
which its housing statistics are
will result in further economic second, third, and/or fourth
available as of this writing, home
lockdowns, negatively impacting quarters of 2021 could unleash
sales were up 25.6 percent on a
the economy’s supply side and inflationary pressures worldwide,
year-ago basis statewide. Average
pushing up borrowing costs in the
process. Should interest rates rise
“While it seems unlikely that home rapidly enough, home demand
could be compromised precisely as
values will decline anytime soon homebuilders bring more units to
given excruciatingly low inventories market. While it seems unlikely that
home values will decline anytime
presently, it is possible that the rate soon given excruciatingly low
inventories presently, it is possible
of appreciation in housing values that the rate of appreciation
will slow.” in housing values will slow.
That in turn could diminish the
20 MARYLAND REALTOR® FEBRUARY / MARCH 2021 www.mdrealtor.orgmotivation to enter the ranks of with the transformational impacts expand in concert nationally and
homeownership. of broad-based vaccinations set globally. Congress may begin
the stage for an enormous rally in focusing on trimming expenditures
economic fortunes during the latter at some point next year, alarmed by
Looking Ahead half of 2021. a national debt that by that point
While the initial phase of recovery will be approaching $30 trillion.
But that accelerated economic
from economic shutdowns has Of course, this is pure conjecture.
recovery could result in a slowing
been brisk, there are indications It is conceivable that 2021 will
housing market ironically. With
that economic momentum usher forth nearly as many
vaccinations in place, the appetite
has begun to wane nationally. surprises as 2020.
to social distance will become less
Job growth has slowed, layoff
intense. Inflation and mortgage
announcements have accelerated,
rates are likely to head higher as
and aggregate personal income Anirban Basu is Chair of the
both economic demand and supply
is no longer rising. The pandemic Sage Policy Group.
persists. Recently passed stimulus
will help, but increasingly pervasive
lockdowns will keep the supply side
of the economy under pressure
through at least 2021’s initial
quarter.
Accordingly, the possibility of a
double-dip recession remains
elevated. The first recession began
in February and ended by May.
The next one is likely to begin
this winter, further delaying the
economy’s complete recovery. By
October, certain indicators were Offers Free Loan Officer
Training Course
already manifesting signs of wear,
including retail sales.
In short, the “v-shaped” recovery
observed since late-April is Qualifications: Local Realtors® with
set to become a “w”, with the a minimum 5 years experience
economy set to enter a brief
second recession or at least a For more information:
period of dramatically diminished Call Bill at (877) 831-0505
growth. However, expected post- or Bparisi@1stpref.com
inauguration stimulus combined
www.mdrealtor.org MARYLAND REALTOR® FEBRUARY / MARCH 2021 21In its Lack of Affordable Housing,
Maryland is not California … Yet
Sharing Results from the “Open Doors
to Stronger Neighborhoods” Campaign
I
n the last year, different news jumped significantly when looking
sources have highlighted at Montgomery County (69%);
the serious housing crisis in Prince George’s County (65%);
California. Prices and supply are so and Anne Arundel and Southern
out of balance that homelessness Maryland (65%). Additionally,
and migration result as Californians the poll noted other regional
move to find affordable homes. concerns. In Baltimore City, 79% is an obstacle; 85% believe cash
Maryland REALTORS® recently of resident were concerned about requirements for down payment and
conducted a statewide poll on housing availability for people with closing costs are a hurdle; and 81%
housing issues to ask the Maryland low incomes, while 72% of Anne identify consumer or credit card
public about their views on housing. Arundel and Southern Maryland debt as a barrier.
Marylanders’ attitudes confirm that believe there is too little housing for
These public opinions match
while housing supply may not rise to young people. A significant majority
what we see in the industry today,
the crisis levels in California, we are (65%) of Prince George’s residents
with ever-increasing average and
moving quickly in that direction. express concern over the amount
median home prices, historically low
of housing for the elderly seeking to
monthly inventories, and 30-year
downsize.
Caution Ahead lows in terms of the percentage of
As expected, when focused on first-time homebuyers. Maryland
Most Marylanders (57%) believe
housing attitudes among different REALTORS® will continue to
home prices are too high. A solid
income groups, the cost of housing advocate for policies that address
majority (over 60%) also believe that
was most concerning to lower- the barriers facing Marylander in
there is too little housing for young
income households. Notably though, pursuing their home ownership
and lower-income homebuyers.
over half of all Marylanders surveyed dreams.
Also, 51% of Marylanders believe
earning more than $100,000
there is too little housing for We’ve provided some charts on the
annually were also concerned about
older homeowners looking to following page, to share what we’ve
home prices—particularly in the
downsize. And nearly half (46%) of learned from Marylanders
$100,000-$125,000 range.
Marylanders feel that their mortgage throughout the state.
costs are a significant to a slight Finally, when identifying barriers to
strain on their personal finances. purchasing a home, Marylanders
identified their biggest challenges.
The public’s attitude about housing
Of our citizens, 84% believe their
issues differs regionally though.
incomes are too low even though
While 57% of Marylanders were
they are working full time. 81%
concerned about the cost of
believe debt from student loans
housing statewide, that number
22 MARYLAND REALTOR® FEBRUARY / MARCH 2021 www.mdrealtor.orgCost to
Cost to Buy
Buy a House Especially High in
in Montgomery,
Montgomery,
Prince George’s and Anne Arundel Counties
Counties
Cost to Buy a House by Region
About right/too low Too high
Total 38% 57% +19
Montgomery County 27% 69% +42
Prince George's County 32% 65% +33
Anne Arundel and Southern Maryland 32% 65% +33
Western & Central Maryland 39% 53% +14
Baltimore County 43% 52% +9
Baltimore City 49% 46% -3
Cecil/Harford and Eastern Shore 54% 41% -13
Question asked: Generally speaking, would you say that the cost to buy a house in your part of Maryland is too high,
about right, or too low?
LowerIncomes
Lower IncomesEspecially
Especially Concerned
Concerned but
but Even
Even Half
Half of
of
Upper Income
Upper Income Households
Households Say
Say Cost
Cost to
to Buy
Buy is
is Too
Too High
High
Cost to Buy a House by Income
About right/too low Too high
Total 38% 57% +19
Less than $25k 26% 72% +46
$25k to $50k 37% 59% +22
$50k to $75k 29% 63% +34
$75k to $100k 41% 58% +17
$100k to $125k 44% 54% +10
Over $125k 42% 51% +9
Same question as above, extracting information about income levels.
www.mdrealtor.org MARYLAND REALTOR® FEBRUARY / MARCH 2021 23Voters Give
Voters Give State
State and
and Local
Local Governments
Governments Lukewarm
Lukewarm
Performance Ratings
Performance Ratings on
on the
the Issue
Issue of
of Housing
Housing
State Legislature Job Performance Local County Job Performance
Excellent
Excellent
5%
4%
Poor Poor Good
16% Good 26%
22%
24%
Just fair Just fair
47% 42%
Excellent/Good: 29% Excellent/Good: 29%
Just Fair/Poor: 63% Just Fair/Poor: 64%
Questions asked: How would you rate the job being done by the Governor and Maryland state legislature on the
issue of housing affordability and supply? Would you say they are doing an/a excellent, good, just fair, or poor? How
would you rate the job being done by your LOCAL county and city governments on the issue of housing affordability
and supply? Would you say they are doing an/a excellent, good, just fair, or poor job?
Large Majorities
Large Majorities Say There is Too Little Housing
Housing for
for
People with
People with Low Incomes and Younger
Younger People
People
Amount of Housing Available in Maryland
Housing for people with low incomes 67% 22% 7%
Housing for younger people and those who
62% 30% 5%
are just getting started in their careers
Housing for older people who are looking to
51% 39% 3%
downsize or have special needs
Housing for people with moderate incomes 46% 47% 4%
Places to rent 34% 51% 10%
Single-family homes available to purchase 30% 59% 8%
New houses and apartments being built 23% 46% 27%
Too little Right amount Too much Don't know
Question asked: Still thinking about housing, please tell me if you think there is too much, too little, or the right
amount of each of the following in your part of Maryland.
24 MARYLAND REALTOR® FEBRUARY / MARCH 2021 www.mdrealtor.orgAreas of Shortage Mostly Consistent by Region
Areas of Shortage Mostly Consistent by Region
Amount of Housing Available in Maryland
Cecil/ Anne
Prince Harford and Arundel
% Too Little Housing Baltimore Baltimore Montgomery George's Eastern County and Western and
Total City County County County Shore Southern MD Central MD
Housing for people with low
67 79 63 68 70 56 69 64
incomes
Housing for younger people and
those who are just getting started 62 55 56 61 63 63 72 60
in their careers
Housing for older people who are
looking to downsize or have 51 56 52 39 65 45 58 48
special needs
Housing for people with moderate
46 45 40 52 49 40 49 43
incomes
Places to rent 34 26 32 33 31 45 38 31
Single-family homes available to
30 36 34 29 34 33 27 22
purchase
New houses and apartments being
23 41 16 23 30 25 15 19
built
Same question as previously asked, identifying the regional weights within each question category.
Low Wages,
Low Wages, Debt, and Down Payment
Payment Costs
Costs
are Top
are Top Obstacles to Buying a Home
Home
Obstacles to Buying a Home
Having a full time job but still not making enough to
56% 28% 84%
afford a home.
Having too much debt from college and student
55% 26% 81%
loans.
Having enough money for a down payment and
54% 31% 85%
closing costs.
Having too much consumer or credit card debt 48% 33% 81%
High construction costs for new homes 43% 31% 74%
Being able to find a home they like that they can
39% 37% 76%
afford.
Banks making it too hard to qualify for a home
34% 29% 63%
mortgage loan.
Having enough confidence in their job security. 32% 38% 70%
Huge Obstacle Medium Obstacle
Question asked: I am going to read several things some people have said makes buying a home too difficult or
expensive. After I read each one please tell me whether you think that is a huge obstacle, a medium-size obstacle, a
small obstacle, or not an obstacle at all that makes buying a home too difficult or expensive for people in your area.
www.mdrealtor.org MARYLAND REALTOR® FEBRUARY / MARCH 2021 25Qualifying
Qualifying for Loans Seen as Bigger
Bigger Obstacle
Obstacle
by
by People
People of Color, Women and Renters
Renters
Banks Making It Too Hard to Qualify For a Home Mortgage Loan
Total 34% 29% 63%
Women under 50 38% 34% 72%
Men under 50 36% 23% 59%
Women 50+ 32% 33% 65%
Men 50+ 25% 27% 52%
POC 47% 25% 72%
White 23% 32% 55%
Rent 54% 20% 74%
Own 27% 29% 56%
Huge Obstacle Medium Obstacle
Same question as previously asked, but looking at the challenges of qualifying for loans.
Six in
Six in Ten
Ten Maryland
Maryland Voters Believe People
People of
of Color
Color Face
Face
Different Challenges
Different Challenges When It Comes to Finding
Finding Housing
Housing
Do POC Face Different Challenges When It Comes to Finding Housing?
Total No: Strongly
34% no
20%
Strongly Total Yes:
yes 60%
43%
Somewhat no
14%
Somewhat yes
Don't 17%
know
6%
Question asked: Thinking specifically about people of color, do you think people of color face different challenges
when it comes to finding affordable, quality housing in your part of Maryland? Yes or no? Is that strongly or
somewhat YES/NO?
26 MARYLAND REALTOR® FEBRUARY / MARCH 2021 www.mdrealtor.orgViews are Split on Racial Lines
Views Lines
Do POC Face Different Challenges When It Comes to Finding Housing?
Total No Total Yes
Total 34% 60% +26
POC 23% 74% +51
White 43% 51% +8
POC under 50 24% 75% +51
POC 50+ 24% 71% +47
White under 50 40% 54% +14
White 50+ 46% 49% +3
POC women 17% 78% +61
POC men 31% 68% +37
White women 37% 58% +21
White men 50% 44% -6
Same question as previously asked, looking at the question from a perspective of race.
Paying
Paying the
the Monthly
Monthly Rent
Rent or Mortgage is
or Mortgage is aa Financial
Financial Strain
Strain
for
for Over
Over Four
Four in
in Ten Maryland Voters
Ten Maryland Voters
Financial Strain of Your Rent/Mortgage
Don't know
3%
A significant
strain
20%
Significant/
No strain at all Slight Strain:
34% 43%
A slight strain
23%
Not much of a
strain
20%
Question asked: How much of a financial strain on your budget is paying your rent or mortgage each month? Is it a
significant strain, a slight strain, not much of a strain, or no strain at all?
www.mdrealtor.org MARYLAND REALTOR® FEBRUARY / MARCH 2021 27Sell More With Maryland BY MAT T H E W H E C K L E S
Program Changes to
Provide Additional Opportunity
F
ollowing a one-of-a-kind year where the “norm” also providing a courtesy temporary monitoring of MMP
was completely redefined, the Maryland Mortgage loans that are reaching their shelf life. Consequently, we
Program (MMP) will continue to move forward to are advising the originating lenders of the timing around
offer much-needed assistance to Maryland homebuyers. those loans so that they can act accordingly, in real time.
For some potential homebuyers, MMP may be the We want to provide reliable and impactful support.
difference between continuing to rent and purchasing We are always looking for new and innovative ways
their own home. Home prices have risen, making down to support REALTORS® and other stakeholders who
payment assistance even more crucial. help homebuyers and sellers in the state of Maryland.
This year has seen the closing of the Maryland If you have a program question or suggestion, email
HomeCredit program that offered mortgage credit SingleFamilyHousing.DHCD@maryland.gov. This email is
certificates to first-time homebuyers. Those funds were monitored at least 12 hours per work day and checked
reallocated to support our successful mortgage loan periodically on weekends.
purchase products, allowing for very attractive interest The homebuying season is upon us. Let’s continue to
rates (often below 3%), and support each other and make this year worth
down payment and closing
“We are always cost assistance. Existing
remembering for its collaboration and partnership!
looking for new and mortgage credit certificates
innovative ways to can still be re-issued for Matthew Heckles is the Assistant Secretary for the Maryland
refinanced loans. Department of Housing and Community Development.
support REALTORS® Our program has Members are encourages to follow the Department and its
and other experienced some other services through the following social media channels:
stakeholders who changes. We removed the facebook.com/MarylandMMP/
more restrictive credit score
help homebuyers and lower Debt-to-Income
instagram.com/marylandMMP/
and sellers in the ratio from the Credit 640 twitter.com/marylandmmp
product. SmartBuy 2.0 saw
state of Maryland.” a decrease in the maximum
second lien amount from
$40,000 to $30,000 to enable a wider outreach to
potential Maryland homebuyers with student debt. In an
effort to increase affordable inventory, we have added
manufactured housing to the list of eligible property
types for MMP loans (excluding SmartBuy 2.0). We are
28 MARYLAND REALTOR® FEBRUARY / MARCH 2021 www.mdrealtor.orgSell More With Maryland.
The Maryland Mortgage Program is here to help REALTORS® by
making the homeownership dream a reality for Marylanders
across the state. Our programs offer attractive interest rates
(often below 3%):
1ST TIME ADVANTAGE DIRECT FLEX DIRECT
Lowest interest rate available with no DPA*; Lowest interest rate available for
First time homebuyers only. repeat homebuyers with no DPA*
*External sources of DPA may be used.
Learn more about how our programs can help you sell more:
mmp.Maryland.gov/Realtors
Social icon
Square
@MarylandMMP
Only use blue and/or white.
For more details check out our
Brand Guidelines.From the Hotline BY K AT H L E E N DA R T E Z, E S Q.
Exploring the
“Procuring Cause”
Q: A:
Is it permissible for a listing to state: The short answer is “no,” this is not
“If Listing Agent shows the property to an permissible for a variety of reasons. Let’s
unaccompanied buyer who later purchases the address each in turn.
property through an agent, Selling Agent will pay Listing First, remember that under Bright MLS’s Rules and
Broker a referral fee of XX% of Gross Commission due Regulations, offers of compensation are unconditional.
to Selling Broker. Selling Broker acknowledges and The unconditional offer of compensation cannot be
accepts this agreement.” I’m the Broker and several of modified by comments added to either the “Agent
my agents have seen listings with this or very similar Remarks” section or the “Compensation Remarks”
verbiage. I didn’t think this was allowed. Am I wrong? section of the listing, even if those comments say
“accepted” or “agreed” or similar words.
If these remarks aren’t acceptable, what can a
listing agent do when asked to show a home to an
unaccompanied buyer? (Please note: for purposes of
this article, we are assuming that the unaccompanied
buyer has entered into a brokerage agreement and is
represented. If a buyer is unrepresented, the listing
agent would generally be the only licensee in a position
to show the property to that unrepresented buyer. )
Remember that even though the offer of compensation
is unconditional, brokers may voluntarily agree to
modify or adjust the compensation offered in the
MLS. If you’re the listing agent, you should speak with
your broker or office manager when you’re asked to
show a home to another broker’s buyer/client. The
listing broker could then contact the selling/buyer’s
broker and negotiate a referral fee or, perhaps, a
“The more important issue, of course,
is not how or whether to modify the
compensation offered. The real concern is
that the buyer’s agent isn’t showing the
home to her or his client and is asking the
listing agent to do so.”
30 MARYLAND REALTOR® FEBRUARY / MARCH 2021 www.mdrealtor.orgYou can also read
