NEW RESNET ENERGY SMART BUILDERS DESIGNATED IN NOVEMBER 2013

December 4th, 2013 - Posted by RESNET under RESNET News

An increasing number of builders are taking advantage of the marketing power of the RESNET HERS Index Score. Over the past month, builders from South Dakota to Alabama have entered into Memorandums of Understanding (MOU) with RESNET. In the MOUs, the builders commit to having their homes energy rated by a certified RESNET rater and marketing their homes’ HERS Index Score.

The following are the new state and local builders who have made the HERS Index Score commitment in November 2013:

With the new changes coming in Real Estate and to the MLS about HERS Rated homes, if Realtors do not educate themselves on the benefits and the quality of a HERS Rated home and keep relaying on the square footage of a home, these Realtors are going to obsolete as using roofing paper for house sheathing.  

Capital Home Builders

Georgia

Endura Performance Homes

Michigan

Ezell-Morgan Construction

Kansas

Finish Werks Custom Builders

Maryland

Giddens Homes

Texas

Haynes Custom Homes

Oklahoma

Herndon Construction

Oklahoma

Hogan Homes

Texas

Newport Builders LLC

Alabama

Southern Tier Housing Corp.

Kentucky

Stencil Homes

South Dakota

United Way of Long Island

New York

In making the commitment these builders has been designated by RESNET as an RESNET Energy Smart Builder. RESNET Energy Smart Builders are leading the transformation of the housing towards high energy performance homes. These leading builders are committed to having all of their homes energy rated following RESNET’s stringent standards and marketing their homes HERS Index.

The RESNET HERS Index is the industry standard by which a home’s energy efficiency is measured. The HERS or Home Energy Rating System was developed by RESNET and is the nationally recognized system for inspecting and calculating a home’s energy performance. Certified RESNET Home Energy Raters conduct inspections to verify a home’s energy performance and determine what improvements can be made to increase it. For more information click on RESNET HERS Index

RESNET is interested in entering into similar agreements with other regional and local builders. Energy raters who have builder clients interested in entering into an agreement with RESNET should go to RESNET Energy Smart Builder MOU

The listing of all builders who have made the commitment go to Builder HERS Index Commitment

http://www.resnet.us/blog/new-resnet-energy-smart-builders-designated-in-november-2013/

Why HERS Rated Energy Efficient Homes Are Better!

Capital Home Builders are the only builders building quality energy efficient homes in Thomasville and South Georgia. If your next home is not HERS Rated than you are just buying a box not a quality home. Our homes are worth more then any typical home built in Thomasville and South Georgia...

Imagine being able to buy a home the same way you would when buying a car or a major household appliance – by knowing how much it’s going to cost you to run. Consumers can examine MPG stickers for cars and Energy Guide labels for appliances to get a good idea about how energy efficient they are. But what can homebuyers look at to assess the energy performance – and affordability of the homes they are viewing? They can ask for the HERS Index Score.

The Home Energy Rating System Index, or HERS Index as it’s better known as is the nationally recognized system for inspecting, testing and calculating a home’s energy performance. The HERS Index Score informs consumers about how a house ranks for energy efficiency as compared to other similar homes. As a result, homebuyers can view homes based on their projected energy costs and make better informed buying decisions.

The way the HERS Index Score works is the lower the score, the better. According to the U.S. Department of Energy, a typical resale home scores 130 on the HERS Index and a home built to the 2004 International Energy Conservation Code is awarded a rating of 100. Therefore, the lower the HERS Index Score, the more energy efficient the home.

Unlike the automobile and appliance manufacturing industries, the housing market has long suffered from a lack of transparency when it comes to home energy efficiency. Many potential homebuyers remain unaware of the fact that just because they can afford the mortgage doesn’t always mean they can afford the home. That’s because outside of the home loan, the highest cost of homeownership is energy.

HERS rated homes cost less to run, are more comfortable to live in and enjoy higher resale values. Furthermore, a recent study shows that mortgage default risks are 32% lower on HERS rated, energy efficient homes. So what makes HERS rated homes better? Everything!

What is a "Buyers Agent" and How do the Laws of Agency Affect Me?

You need to know a little something about the laws of Agency

If you want to purchase a property in Santa Rosa, Windsor or the surrounding areas, chances are very high that you will be dealing with the seller’s agent (the listing agent). The NAR research shows that 93% of all open-market real estate transactions are done through the use of a real estate agent. This includes the one you are excited about too.

Because you are going to be dealing with a real estate agent, you should know a little bit about the laws of agency, the different types of agency and the agent’s loyalties. So, here we go…

Agency and Loyalty in a California Real Estate Transaction

One of the fundamental concepts in real estate relationships is the concept of “Agency”. California licensed real estate agents are governed by the California Department of Real Estate and the laws of agency. The California laws of agency require that an agent must maintain a fiduciary responsibility to their client.

A fiduciary responsibility is a much higher level of loyalty than simply acting “honestly and fairly”. A fiduciary responsibility requires that every action the agent performs must be in the best interest of their client.  This is above and beyond “Honest and Fair”. This responsibility goes so far as to require that even if a particular course of action is NOT  the most advantageous action for the agent, but IS in the best interests of the client, the agent must act for the benefit of the client. With everyone other than the client, the agent is only required to act honestly and fairly, but NOT NECESSAIRLY in the “other person's” best interest.

The key point is that when there is a conflict between the best interests of the client and the best interests of “other people” in the transaction, the agent is required by law to act in the client’s best interests. So all this begs the question: “Who is the client”? Well, it ‘aint Batman or the Lone Ranger, so read on…

Three types of agency; Single, Separate and Dual for a Santa Rosa real estate agent

Before we answer the “who is the Client” question, let’s look at an example. Suppose you want to buy a house in Santa Rosa or Windsor without the help of an agent. You look through the newspaper, attend some open houses, find a home that you like and want to make an offer. Because the vast majority of homes for sale in Santa Rosa or Windsor are offered through a listing agent, in these cases your offer would have to be presented to the real estate listing agent. By law, the listing agent must inform you that they will be acting in one of two ways; as a Dual Agent (representing BOTH you and the seller), or as the Seller’s Agent only (you do not have an agent; you are on your own).

There is also a third agency scenario called “Separate Agency” where you get your own agent before the offer, and this type of agency is discussed in the last section of this article.

Single Client Agency in a Santa Rosa or Windsor Real Estate Transaction

So, you are making an offer to buy a home in Santa Rosa on your own, and the only agent involved is the seller’s listing agent. This smarter-then-average agent knows dual agency stinks and so tells you that you are on your own, that they are NOT going to represent you. You are NOT the Client, the Seller is the Client. Let’s assume a “best case” scenario where this agent is completely honest and ethical, they could even be a friend of yours.

Due to the laws of agency, no matter how fair the agent wants to be, if there is a conflict between what the agent knows is in YOUR best interests and what is in the seller’s best interest, the agent is required by law to act in the seller's best interests, not yours. Even your friend would legally have to act for the benefit of the seller. With the complexities of real estate transactions in Sonoma County, you really want a professional acting in YOUR best interests, not the other person’s. In my opinion, single agency is the worst of all scenarios because the other person has the benefit of professional advice, and you have nothing (well, ok… at least you read my article, that’s a good start).

Dual Agency in a Santa Rosa or Windsor Real Estate Transaction

OK, let’s go back to making that offer to buy a home in Santa Rosa, and the only agent involved is the seller’s agent. This time the Seller’s agent doesn’t care that there is a much higher risk of a lawsuit and so suggests that he can represent you in a “Dual Agency”. Dual-Agency in real estate is when the real estate agent represents both the seller and buyer of a given property. BOTH buyer and seller are the “Client”. How handy is that! Remember, the real estate agent is required by law to act in the best interests of the client.  The problem of course is that in dual agency, the “client” is both the seller AND the buyer, each of whom often have very different “best interests” when it comes to the property transaction. 

For example, the seller wants the highest sales price, the buyer wants the lowest.  The seller would prefer that certain "blemishes" of the property do not become a "problem"; the buyer wants to know absolutely every detail about the property before buying. The buyer may not want the seller to know details of their financing arrangements, while the seller wants this information to determine the probability of closing escrow. The list goes on and on, and in each case the real estate agent is supposed to act in the best interests of BOTH? How the heck do you do that? 

Dual agency is such a bad idea that it has been outlawed in other states, yet it is still legal in California. However, while it is still legal, even the California Department of Real Estate has issued a warning to real estate agents about Dual Agency. In an article they published called "The Perils of Dual Agency" (CA Real Estate Bulletin, Fall 2007, page 2), they stated that “…dual agency arrangements present an increased risk of liability and/or discipline to the licensee”. Honestly, when the Governmental agency responsible for licensing real estate agents publishes an article like that, why are we still allowing Dual Agency?. When it comes right down to it, dual agency is a dinosaur that should be dead, but is still lurking in Sonoma County, and if you are not careful it might step on your real estate transaction. Ouch.

Is Dual Agency in a Real Estate Transaction Fair to the Buyer and Seller?

The question in dual agency is not whether it is "possible" for an agent to be fair to both sides of a transaction, because in some situations this is certainly possible.  The real question is whether dual-agency truly serves the best interests of both clients better than if each client had their OWN agent (separate agency).  I have not read or heard a convincing argument that leads me to believe that this is true.

In Santa Rosa and the surrounding areas, some agents actually prefer dual agency, mostly because it means they make more money.  However, considering that “some percentage” of real estate agents in the Santa Rosa area are ignorant, untrained, or just plain unethical; in my opinion, dual-agency is a ripe opportunity for these individuals to prosper at the expense of one or both of the clients. Not only does the client suffer, but so does the real estate profession.

In Santa Rosa, Windsor or ANYWHERE, Your Real Estate Agent Should be working for YOU

In my opinion, you don’t want a buyer’s agent that finds a “happy middle ground” for both buyer and seller. You want an agent that is BETTER than the seller’s agent. You want to come out ahead. What you REALLY want your agent to do is work hard and ethically to find out as much information to your advantage about the other side of the transaction as possible. Some of the information you may want to know would be illegal or unethical for a dual agent to disclose because of their fiduciary responsibility to the Seller. In my opinion, at different points in the transaction both sides get ripped-off with dual agency. 

In every real estate transaction I have been involved in, I have found at least a dozen things the other agent wanted to do, but were not the best path for my client. Dual Agency in Sonoma County is just as crazy as having the same lawyer represent both sides in the same lawsuit. You'll never see that on “CSI”!!!   In Santa Rosa, some agents (myself included) will not enter into a dual agency relationship if at all possible. Yes, this means I am giving-up a portion of the commission, but I feel that dual agency prohibits my ability to aggressively represent my client. I don’t care that my commission would be more with dual agency; I just don’t think it is right.

A Separate Buyers Agent is YOUR Professional in the Deal

The concept of a "buyer’s agent" is relatively new to the real estate industry, and in Sonoma County this may still be the exception rather than the norm.  Remember that in the beginning, the real estate industry in California only had one type of agent.  This agent represented the seller of a property and the phrase “Buyer Beware” was the motto of the day.  As time passed, people buying real estate realized that the listing agent was frequently assisting the buyer in some fashion and so dual agency was created. 

Dual agency was never designed to be the “best” solution for both parties, so much as an attempt to keep the buyer from getting totally screwed. Oh yeah, and it also let the real estate listing agent keep the entire commission. That was sweet.  Savvy buyers in the Santa Rosa area eventually realized that if they hired their OWN agent, an agent who had no fiduciary relationship to the seller, they had a BETTER chance of getting the best deal. These savvy buyers began bringing their OWN agent to the party and insisted that their real estate agent represent them exclusively. And so, the concept of the buyer’s-agent was born. Best of all, it the cost of this buyers agent is normally paid for by the seller, not the buyer.

Legally speaking, buyer agency removes the fiduciary duties of the agent to the seller and replaces this with a fiduciary responsibility to the BUYER only. The real estate agent must, by law act in the buyer’s best interests, even if this is NOT in the best interest of the seller. The agent must certainly treat the Seller fairly and honestly, but removing the handcuffs from your agent lets them fight for YOUR best deal. Buyer Agency also gives a buyer the opportunity to pick their own agent based on what is important to them, not the seller. Just because the seller “has” to use their Cousin George as their agent, doesn’t mean YOU have to. Also, in most cases the buyer’s-agent fee is still paid by the seller, it really doesn’t get much better than that. I have some suggestions in helping you select a buyers agent if that is the route you decide to take. The point to this article is NOT that you "have to have an agent", but rather how imperative it is that you understand the loyalties and legal requirements of agency, and whose interests are truly represented.

Just say “No” to Dual Agency!

http://davidhartsrealty.com/buyer_content/How_dual_agency_can_hurt_the_buyer.html

Georgia's Buyer Agency Law....How Does it Affect You?

For years Georgia did not have a buyer agency law in place. As a matter of fact, the only party to have representation in the transaction was a seller. However, the state of Georgia passed a law that provides the buyer to have the representation as well, but with a few provisions.

First, the buyer needs to put his request for representation in writing by signing a contract with a real estate broker.  And, this request needs to be in writing before going to look at houses and certainly before writing a contract. Without this request in writing, Â  every agent the buyer talks to is technically representing the seller according to the way the law is written. So, why would you want everyone in the transaction representing the seller??

Well most don't. However, the way the law is written, without a buyers agreement, the agent is obligated to protect the  sellers price and interests and is NOT allowed to offer advice or opinion to the buyer.

Unfortunately, what this means is that any agent the unrepresented buyer talks to should not be given any confidential  information as it may be used to the advantage of the seller, whom legally, the agent represents.

So, let's say that a buyer, who decided not to sign a buyers agency agreement, decides to put an offer in on a home. The buyer has to tell the agent exactly what they want in the offer, without any advice or guidance being offered by the agent and the buyer may or may not understand the contract or the real estate process, can find himself in a world of hurt.

Ideally, the buyer should seek representation as soon as they are ready to look at houses. I recommend even before hand because there is a lot of education that goes into lending laws, pre approvals, etc that can save a buyer a boat load of time.  And Just a Few More Tips When Hiring a Buyers Agent:

· When you Google the Agent, What Do Their Clients Have to say about their services?

· If you are concerned about the commission, remember the commission is paid by the seller and can be negotiated with a for-sale-by-owner seller as well.

· Meet with the agent first; see if there is a comfort level with both the person’s knowledge and personality.

· ASK QUESTIONS!

Remember, it doesn’t cost you a thing to have us represent you, but it could end up saving you a fortune. 

Visit http://www.seasonsrealtygroup.com/Our-Team.html to learn more about how ourEXCLUSIVE BUYERS AGENTS can help you succeed in a world of uncertainty!

http://www.trulia.com/blog/winterbaserva/2012/02/georgia_s_buyer_agency_law_how_does_it_affect_you

Avoid Dual Agency Pitfalls

Avoid Dual Agency Pitfalls

APRIL 2007 | BY BRAD J. BOYD

Wouldn’t it be nice if life were clear-cut? Often in residential real estate it is: The most common legal arrangement in the business is for a listing agent from one company to represent the seller and a buyer’s agent from another company to represent the buyer in a transaction. The advantage to this scenario is that when negotiations arise or the parties are sending counteroffers back and forth, the two sides have a relatively balanced opportunity to obtain guidance and strategy from their own representative. But dual agency creates relationships with clients and customers that aren’t clear-cut.

For example, Rita Real Estate Broker is the listing agent holding an open house for her client, Sam Seller. Barb Buyer asks Rita details about the property during the open house, tells Rita she isn’t working with an agent, and asks Rita’s help in preparing an offer for Sam’s house. Rita has to stop, ask Barb if she’s asking for representation, and decide if she wants to enter into a dual agency relationship.

First Rita must resolve whether her state’s laws and her brokerage’s policies permit dual agency. Next, she must determine whether Sam Seller has agreed to let her act as a dual agent in the transaction and obtain his full, written consent to Rita’s new role. She must also disclose the limitations the dual agency will place on her ability to assist Barb and Sam. Only then will Rita have done everything necessary to create disclosed dual agency.

If she does enter into a disclosed dual agency relationship, Rita must observe her state’s dual agency laws, which probably require her to keep some types of information from each party confidential. In a dual agency relationship, Rita’s fiduciary duties to her clients are much more limited. She can no longer be an advocate for either party because each client has opposite goals.

Designated Dual Agency

Dual agency relationships occur not only when one agent represents two parties but also when two agents from the same company represent two parties in the transaction. If Rita’s friend Alice Agent, who works out of a different office of the same brokerage Rita is affiliated with, comes to Rita’s open house with her buyer clients, Bill and Betty Buyers, and the Buyers later make an offer, once again, a dual agency relationship may be created.

In some states, there’s another option, designated dual agency. In these cases, the broker of Alice’s and Rita’s brokerage could designate one agent to represent the buyer-client and another to represent the seller-client. The broker would screen off some transaction information so that neither agent has access to the confidential information of the other party.

Although designated dual agency can work well, it poses the same general challenges as a typical dual agency arrangement. Designated agency still places significant responsibilities on each agent and on the brokerage to follow strict management policies to avoid compromising the integrity of the transaction.

Avoiding Dual Agency Traps

In a few states — Colorado, Florida, and Kansas — dual agency is prohibited. This prohibition ensures that the real estate practitioner isn’t put in the difficult position of trying to satisfy both parties and risking that one or both parties may walk away feeling they didn’t receive the focused and thorough representation they expected. That dissatisfaction could lead to legal action, especially if there are problems with the transaction.

However, if dual agency is legal in your state and you want to make it a part of your business model, be sure to take these steps to ensure that both clients are treated fairly.

1. Review your state’s laws (consult with an attorney if necessary) to determine if dual agency is legal and what disclosures and procedures you must follow.
2. Review your brokerage company’s policy to see if dual agency is permitted and exactly what actions you as a dual agent may not perform for each party.
3. Disclose the dual agency and what it means to all clients in writing, and obtain their timely, written consent to the relationship. Be sure to explain how dual agency limits your ability to fully represent each party.
4. Review and discuss with your client any state-mandated agency disclosure forms. Some states also have statutory language that must be included in all dual agency agreements. Failing to properly disclose dual agency is illegal.
5. Recommend that both parties retain attorneys to advise them regarding the purchase agreement, contingencies, price, earnest money, or other negotiated issues. This can be a win-win for all parties involved since the client will be adequately represented and the attorneys’ participation will take pressure and liability off of the sales associate.

If you’re careful in informing all parties about the requirements of a dual agency relationship, acting as an agent for both can be a viable way to close deals. Just don’t let your desire to get the deal done lead you to inadvertently overstep the limitations dual agency imposes.

http://realtormag.realtor.org/law-and-ethics/law/article/2007/04/avoid-dual-agency-pitfalls