Hire a reputable mover

mover checklist — Moving Checklist (from Federal Motor Carrier Safety Administration fmcsa.dot.gov)

Moving is stressful enough without having to deal with a rogue mover. Before your hire a mover, do your research and know your rights. Your rights may vary depending if your move is intrastate or interstate. An intrastate move is within the same state, while an interstate move is between states. Although intrastate movers are not licensed by the state of Maryland, there are a rules and consumer protection laws governing their business. However, interstate movers must comply with Federal regulations.

Hiring a mover to move within Maryland (intrastate)

The Consumer Protection Division of the Maryland Attorney General published The Consumer’s Edge: Hiring a Mover? Protect Yourself! The publication outlines your rights for a move within the state of Maryland (marylandattorneygeneral.gov). The pamphlet advises that estimates must be written, and must specify if it’s binding or non-binding. Binding estimates are prohibited to change, while non-binding estimates in Maryland are capped and cannot exceed 25 percent of the original estimate. Be wary of low-ball estimates, or a mover who does not ask a lot of questions about your possessions. Don’t sign a blank or incomplete estimate.

If your move is within Maryland, consult the Maryland Movers Conference. The MMC is a non-profit organization that is part of the Maryland Motor Truck Association, and works with “governmental authorities and consumer groups to promote the highest standards for the moving industry in Maryland.” The organization established a Registered Mover Program, where movers abide by a code of ethics and other rules. You can view valuable consumer info and the MMC’s list of member movers at their website (mdmovers.org).

Hiring an interstate mover

mover pamphlet — FMCSA Ready to Move Brochure
(fmcsa.dot.gov)

If your move is interstate, your mover is regulated by the Federal Motor Carrier Safety Administration of the US Department of Transportation. The FMCSA website “Protect Your Move” (www.fmcsa.dot.gov/protect-your-move) provides an abundance of information to help you choose a reputable mover as well as tips and a checklist to help make your move less hectic. The FMCSA maintains a registry of legitimate interstate movers from which you can search and view licensing, insurance, as well as complaints.

During the planning stage of your interstate move, Federal regulation requires your mover to provide you with a copy of the booklet “Your Rights and Responsibilities When You Move” and a copy of FMCSA’s brochure “Ready to Move.” These publications (available on the FMCSA website) offer insight to make an informed decision, as well as understand your consumer rights in case something goes awry.

The FMCSA suggests that estimates that sound too good to be true are often a way for scammers to get your business. What are the red flags for which to be on the lookout? Be wary of:

Estimates given without onsite inspection of your possessions
A demand for cash or a large deposit
Blank or incomplete documents
Refusal to provide a written estimate
Movers who claim to be insured without providing proof
A mover who generically answers the phone “movers” instead of using the company’s name
No address or insurance info on the company’s website
Use of a rental truck instead of a company branded truck.

Moving Rights and Responsibilities — Rights & Responsibilities Booklet (fmcsa.dot.gov)

Movers must deliver your possessions. Call the police if a mover threatens to not deliver for any reason. Interstate movers may be in violation of Federal law if they hold your shipment “hostage.” The FMCSA offers some recourse if you feel victimized by an interstate mover or broker. The Protect Your Move Website has an online tool to make complaints. A complaint may trigger a Federal enforcement investigation against the mover.

By Dan Krell.
Copyright © 2018.

Original published at https://dankrell.com/blog/2018/08/29/hire-reputable-mover/

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Disclaimer. This article is not intended to provide nor should it be relied upon for legal and financial advice. Readers should not rely solely on the information contained herein, as it does not purport to be comprehensive or render specific advice. Readers should consult with an attorney regarding local real estate laws and customs as they vary by state and jurisdiction. Using this article without permission is a violation of copyright laws.

August 26, 2018December 13, 2022

Online fair housing

Facebook has been under scrutiny for a number of issues, including privacy rights and political ads. In an effort to enforce online fair housing, HUD has made a complaint alleging that the social media platform has violated the Fair Housing Act. Online fair housing is a serious issue. HUD’s enforcement of fair housing extends to online social media and sharing platforms.

The US Department of Housing and Urban Development complaint (hud.gov) states that:

“Facebook unlawfully discriminates by enabling advertisers to restrict which Facebook users receive housing-related ads based on race, color, religion, sex, familial status, national origin and disability. Facebook mines extensive user data and classifies its users based on protected characteristics. Facebook’s ad targeting tools then invite advertisers to express unlawful preferences by suggesting discriminatory options, and Facebook effectuates the delivery of housing-related ads to certain users and not others based on those users’ actual or imputed protected traits…The alleged policies and practices of Facebook violate the Fair Housing Act based on race, color, religion, sex, familial status, national origin and disability.”

HUD’s August 17^th press release that announced the complaint alleges that Facebook

“invites advertisers to express unlawful preferences by offering discriminatory options, allowing them to effectively limit housing options for these protected classes under the guise of ‘targeted advertising.’”

HUD emphasizes that the Fair Housing Act “prohibits discrimination in housing transactions including print and online advertisement on the basis of race, color, national origin, religion, sex, disability, or familial status.”

HUD’s Secretary-initiated complaint follows the Department’s investigation into Facebook’s advertising platform which includes targeting tools that enable advertisers to filter prospective tenants or home buyers based on these protected classes.

Anna Maria Farias, HUD’s Assistant Secretary for Fair Housing and Equal Opportunity who filed the complaint, stated:

“The Fair Housing Act prohibits housing discrimination including those who might limit or deny housing options with a click of a mouse…When Facebook uses the vast amount of personal data it collects to help advertisers to discriminate, it’s the same as slamming the door in someone’s face.”

Past online fair housing allegations

Allegations of online fair housing violations are not new for Facebook. ProPublica alleged in 2016 that Facebook allowed advertisers to purchase discriminatory ads through a targeted advertising platform (Facebook Lets Advertisers Exclude Users by Race; propublica.org; October 28, 2016). The targeted advertising platform had a “Ethnic Affinity” section (at that time, it was alleged that Facebook assigned “Ethnic Affinity” to subscribers based on posts and “likes”). Facebook claimed that “Ethnic Affinity” is different than race, and was part of a “multicultural advertising” effort.

Following ProPublica’s investigative reporting, HUD briefly investigated the matter. Facebook was said to have changed the targeted advertisement platform by moving “Ethnic Affinity.” Additionally, an anti-discrimination advertising system was to be implemented. However, a follow up investigation found that the reporters were able to purchase housing advertising that should have been rejected for discriminatory preferences (Facebook (Still) Letting Housing Advertisers Exclude Users by Race; propublica.com; November 21, 2017).

Facebook is not the first website to be accused of online fair housing violations. In 2006, a civil rights non-profit sued Craigslist for discriminatory housing ads that were posted by users. At the center of the matter was if Craigslist was considered a publisher. The case was dismissed based on a Communications Decency Act provision that states, “…[n]o provider or user of an interactive computer service shall be treated as the publisher or speaker of any information provided by another information content provider.” Even though the suit was dismissed, Craigslist worked with HUD and housing advocacy groups to implement technology to prevent discriminatory words and phrases in housing ads (craigslist.org).

Original published at https://dankrell.com/blog/2018/08/26/online-fair-housing/

By Dan Krell.
Copyright © 2018.

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August 16, 2018November 23, 2021

Fast home sale tips

Although the volume of home sales is below last year’s figures, most homes are still selling. Of course, home sellers would prefer to have a fast home sale. When meeting with potential listing agents, home owners are typically overwhelmed by agents promoting their broker’s technology. But the research is clear that it’s not technology that sells homes, but rather your MLS listing content and the audience that can sell your home fast.

Three years ago, I introduced cutting edge research by Allen, Cadena, Rutherford & Rutherford (Effects of real estate brokers’ marketing strategies: Public open houses, broker open houses, MLS virtual tours, and MLS photographs; The Journal of Real Estate Research; 2015; 37(3), 343-369). Although the study focused on the listing agent’s motivations about spending money on promoting your home, it did shed light on the effectiveness of marketing staples such as: broker open houses, public open houses, MLS photos, and MLS virtual tours. Although these tactics may not promote a fast home sale, the study revealed that all four methods used together positively influence the home sale price.

They found that having six or more MLS photos increases the probability of a selling your home, as well as positively influencing the sale price. Having a virtual tour can decrease the home’s time on market as well as increasing the probability of selling. Having open houses can help sell your home at a higher price, but can take longer to sell. Contrary to conventional wisdom, having public open houses can increase your home’s time on market up to twenty-five days, while reducing the chances of it selling by 6.1 percent! Broker open houses also adds to the time on market, however increases the likelihood of selling your home. The conclusion was that all four tactics should be considered as a package if your goal is to get top dollar. However, if your goal is a fast home sale, your focus should be elsewhere.

Do pictures help with a fast home sale? A number of studies found that MLS photos and virtual tours have positive effects to home sale price, but are conflicted with regard to time on market. However, a study conducted by Benefield, Cain & Johnson (On the Relationship Between Property Price, Time-on-Market, and Photo Depictions in a Multiple Listing Service; The Journal of Real Estate Finance and Economics; 2011; 43(3), 401–422) indicated that having more photos of the home’s interior can increase the time on market.

A study published this year suggests that getting more real estate agents to view your MLS listing can sell your home faster. Allen, Dare, & Lingxiao (MLS Information Sharing Intensity and Housing Market Outcomes; The Journal of Real Estate Finance & Economics; 2018; 57(2), 297-313) found that just increasing the MLS listing view by one unit can increase the probability of selling your home by 5.7 percent, increase the sale price by 0.2 percent, and reduce time on market by 1.6 days.

A fast home sale

So, what does all this research mean to you if you’re selling your home? First, consider that your agent’s marketing strategy will certainly affect your home’s sale price and days on market. While possibly helping to get a better sale price, the research has demonstrated that having a broad marketing plan could increase your home’s time on market. To decrease the days on market and increase the probability of a sale, pay attention to the pictures and audience. Make sure your agent places high-definition photos of your home in the MLS, but limiting shots to the most relevant. Also, make sure your agent has a plan to get your MLS listing in front of other agents.

Original published at https://dankrell.com/blog/2018/08/16/fast-home-sale-tips/ ‎

By Dan Krell.
Copyright © 2018.

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August 12, 2018July 21, 2019

Real estate big tech

The business of real estate seems to be turning away from actually selling homes and wants to be housing big tech. Nothing is as it seems. Real estate companies are now technology companies, and technology companies want more of your information to control your opinion and behavior.

How much control should big tech have over what you think and do? It’s a compelling controversy that is currently being debated. It’s not clear when the discussion exactly began, but there have been many who have been wary of big tech for decades. Even President Eisenhower had something to say about it in his second 1961 farewell speech (the first being famous for his warning of the military-industrial complex) he also warned. “…we must also be alert to the equal and opposite danger that public policy could itself become the captive of a scientific-technological elite.”

Once called paranoid, those who feared big tech are being vindicated by the acknowledgments of data collection and leaks to third party users. Additionally, reports of censorship and behavioral control are slowly making its way to public awareness. Sounding like a movie plot about a dystopian future, consider the internal Google video that was leaked by The Verge earlier this year (Google’s Selfish Ledger is an unsettling vision of Silicon Valley social engineering; theverge.com; May 17, 2018). The leaked video (seen here) discusses the use of data to not only change opinions and shape viewpoints that correspond with the company’s values, but to change behavior and shape society to “a directed result.”

Imagine being told where to buy a home, and which real estate services to use based on your behavioral data. Big tech’s “guiding” of real estate consumers to homes and neighborhoods based on behavioral modeling algorithms seems like it could save time and effort for the consumer. But it could also be considered steering, which is considered to be a fair housing no-no.

real estate big tech — Real estate tech (infographic from nar.realtor).

But big tech wants more of your data, at best to improve modeling algorithms. According to a report in the Wall Street Journal (Facebook to Banks: Give Us Your Data, We’ll Give You Our Users; wsj.com; August 6, 2018), Facebook has been in conversations with banks to access users’ accounts and transactions. The social media platform denied the story the next day. However, the Wall Street Journal reporting by Emily Glazer, Deepa Seetharaman and AnnaMaria Andriotis is compelling given the report’s sources. Some experts are also talking about Facebook wanting to become a consumer marketplace.

Zillow is also allegedly expanding its data usage. Zillow announced this week of their acquisition of Mortgage Lenders of America. The purchase is said to boost Zillow’s “Offers” program, offering mortgages for home buyers making offers on the site. However, GeekWire reported (Zillow acquires Mortgage Lenders of America, posts $325M in Q2 revenue, up 22%; geekwire.com; August 6, 2018) Zillow’s CEO Spencer Rascoff as saying in the company’s second-quarter earnings call:

“We’re taking our huge advantages, which are our audience and our brand and our resources, and expanding into other business vertically… .”

And it’s not just big tech that wants your data. Traditional companies are realizing the potential of behavioral modeling and guiding consumer behavior. Inman reported earlier this year that co-founder Gary Keller proclaimed Keller Williams a tech company (What the hell is Keller Williams doing? Lingering questions from the Vision Speech; inman.com; February 28, 2018). Keller proclaimed:

“We are a technology company. No. 1 that means we build the technology. No. 2 that means we hire the technologists … We are not a real estate company anymore.”

Big tech is losing touch with the average consumer. Home buyers and sellers don’t want to be told what to do. Rather, they want to make organic decisions. While large real estate brokers seem to be moving away from actually selling homes to be real estate big tech, home buyers and sellers are turning to human real estate agents. Instead of algorithms, buyers and sellers value trusted Realtors to help with the process.

By Dan Krell.
Copyright © 2018.

Original located at https://dankrell.com/blog/2018/08/12/real-estate-big-tech/

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August 2, 2018July 23, 2019

Home buyer fatigue

Home Buyer Fatigue or Housing Derangement Syndrome?

Although home prices remain strong, the volume of home sales has dropped off during June. This is causing some in the media to exhibit “housing derangement syndrome” by reporting a pending housing collapse. However, there is a more sensible answer and that may be “home buyer fatigue.” Buyer fatigue is not solely used in real estate, rather it’s a term to describe consumers who do not engage in a market sector for a short duration for various reasons. Home buyer fatigue has occurred multiple times since 2013 after a period of sustained home price increases.

Let’s look at the facts.

The National Association Realtors (nar.realtor) reported in a July 23^rd press release that the total existing home sales for June decreased 0.6 percent, and is down 2.2 percent from the same time last year. Home sales in Montgomery County have also been retreating. The Greater Capital Area Association of Realtors (gcaar.com) reported sales declines for single-family and condos during June (-3.4 percent and -13.9 percent respectively). Year-to-date sales are also below last year’s transactions for the same time period.

NAR chief economist Lawrence Yun observed:

“There continues to be a mismatch since the spring between the growing level of homebuyer demand in most of the country in relation to the actual pace of home sales, which are declining.”

However, his explanation for the home sales retreat sounds like home buyer fatigue:

“The root cause is without a doubt the severe housing shortage that is not releasing its grip on the nation’s housing market. What is for sale in most areas is going under contract very fast and in many cases, has multiple offers. This dynamic is keeping home price growth elevated, pricing out would-be buyers and ultimately slowing sales.”

Although national home prices are increasing, the gains remain steady. The latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported on July 31^st (spice-indices.com) indicated a 6.4 percent annual gain during May, which is the same as the previous month. However, the 20 City Index showed a slight decline to 6.5 percent (from 6.7 percent). Seattle, Las Vegas and San Francisco continue to lead the nation with double digit gains (13.6, 12.6 and 10.9 percent respectively). The Washington DC region, however, showed a modest annual home price growth of 3.06 percent.

As home sales decline, many contribute home buyer fatigue to increasing home prices and mortgage interest rates. A few have already begun to ring the warning bells of bubble popping home price deflation citing Seattle and San Francisco’s housing woes.

However, those exhibiting housing derangement syndrome need to take a deep breath and look at the facts. Most of the country’s home values are increasing at a sustainable rate. Additionally, contrary to reports of inventory surpluses, home sale inventory continues to be low in most of the country (Montgomery County single-family and condo listings are below last year’s level by -9.3 and -12.8 percent respectively).

It’s also important to look deeper into what may be driving those overheated housing markets to experience the sharp price spikes and recent sale declines. For example, Seattle’s housing juggernaut may be tied to Amazon’s nine years of a seemingly hiring frenzy. According to reporting by Matt Day for The Seattle Times (Amazon’s employee count declines for first time since 2009; seattletimes.com; April 26, 2018), Amazon begun corporate layoffs, as well as a possible hiring freeze, earlier this year.

By Dan Krell.
Copyright © 2018.

Original published at https://dankrell.com/blog/2018/08/02/home-buyer-fatigue/

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