The EDGEInformation and news that gives you an edge in the real estate business

In This Week’s “The EDGE”• Who Do You Trust for Accuracy?• Closing Changes Are Coming• REALTOR® Lobby Day is April 14• Houston Market Movements• All Aboard for Certification!

“The Edge” is a weekly tool for managers to use to inform their agents and stay current and up-to-date about important real estate industry issues.

Brought to you by the HAR Communications Department.

The EDGEInformation and news that gives you an edge in the real estate business

Who Do You Trust for Accuracy?The latest HAR.com Consumer Research Panel survey provides helpful insights into consumer confidence in the accuracy and trustworthiness of real estate information. Here are some key findings:

•HAR.com is clearly preferred, is the most trusted, most accurate, most relied upon, beating out Zillow, Trulia, and other third party websites.•Accurate property information is a key factor in consumer satisfaction.•Respondents do not have a clear understanding of how third party sites gather listing data.

Over 8,700 consumers participated in this survey, with a response rate of 21 percent. Find outmore about the latest HAR.com Consumer Research Panel survey at www.har.com/consumerresearch/.

The EDGEInformation and news that gives you an edge in the real estate business

Closing Changes are ComingThe home closing process changes dramatically on August 1, 2015. How much do you know? Will you be ready? Test your knowledge now!

TRUE or FALSE?

1. Federal Government changes will transform the settlement process. 2. The Good Faith Estimate (GFE) will be eliminated3. The Truth in Lending (TIL) disclosure forms will be eliminated.4. The GFE and TIL disclosures will be combined into one form newly named the “Loan Estimate (LE).”5. The HUD-1 Settlement Statement will be eliminated.6. The ‘HUD 1` is being replaced by the “Closing Disclosure (CD).”7. The “Closing Disclosure” must be delivered to the consumer a full three days prior to closing.8. A change in loan terms will create a 3 day waiting period if it changes the APR by 1/8% or more.9. The title company will no longer be the primary provider of the Closing Disclosure (CD)/HUD 1.

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The EDGEInformation and news that gives you an edge in the real estate business

Closing Changes are Coming (cont’d)10. The lender becomes the primary provider of the Closing Disclosure/HUD 1.11. It will be much more difficult for real estate professionals to make last-minute changes at the closing.12. A good rule of thumb is, if you want to close on September 30, make sure everything is ready on September 23.13. The consumer will receive the Loan Estimate from the lender.14. The REALTOR® will no longer receive the Loan Estimate .15. Closing Day will now become known as “Consummation Day.”16. The Consumer Financial Protection Bureau (CFPB) is a governmental agency with sweeping jurisdiction over the real estate industry with the power to impose daily penalties up to $5,000 for failure to follow the laws.

If you answered TRUE to all the questions, you are CORRECT! If not, training and tutorials on this subject are being provided by your HAR Professional Development department.

The EDGEInformation and news that gives you an edge in the real estate business

REALTOR® Lobby Day is April 14Don’t miss this one of a kind opportunity to meet REALTORS ® from across the state and to see your

elected officials face to face!!!

•6 bus locations throughout the Houston Area•$15 at sign-up buys your lunch the day of the

event•$110 TREPAC pledge can be paid throughout the

year until September 15th

•What happens on the bus, stays on the bus!!!

If you have more questions, please contact HAR Director of TREPAC Karen Driscoll at

karen@har.com or 713-629-1900 ext. 271.

The EDGEInformation and news that gives you an edge in the real estate business

An increase in new home sales are in the spotlight, thanks to some recent figures by the Commerce Department, but one should be careful not to speculate too much about sales outpacing predicted numbers from the beginning of the year. Small sample sizes, seasonal adjustments and poor geographic weighting can have undesirable consequences on the reliability of national figures. This is why locally grown MLS data is often the best source for quality market-informed nourishment.

In the Houston region, for the week ending March 22: • New Listings increased 1.7% to 2,267

• Pending Sales increased 21.1% to 2,106• Closed Sales decreased 4.6% to 1,336

Houston Market Movements

The EDGEInformation and news that gives you an edge in the real estate business

Texas Residential Leasing Specialist CertificationThe first day of this course covers the following topics: The Essentials of Residential Leasing (03-00-076-27372), which provides licensees with the core competencies they need in their role as a property manager or leasing agent; Agency Issues Impacting Property Managers and Leasing Agents (03-00-076-27374), where REALTORS® learn how agency is established and to distinguish between the various kinds of agency relationships. Day Two covers the following topics: Marketing and Leasing Residential Properties (03-00-076-27370), which will provide the licensee with the core competencies they need in their role and responsibilities when functioning as a property manager or leasing agent; The TAR Residential Lease Agreement (03-00-076-27373), which is designed to keep real estate licensees compliant and properly executing the basic fundamentals of leasing representation, property management and their role in that process. Approved for 12 hours of MCE credit.

Date: Wed. & Thurs., April 1 & 2Time: 9 a.m. to 4 p.m.Location: HAR CentralInvestment: $149

Register at www.har.com/edu Questions? Call 713.629.1900 ext. 6

All Aboard for Certification!