Harvard: New multifamily home construction not enough to help all rental demand

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Even though new multifamily construction is helping meet the demand for rental properties across the United States, more work needs to be done to help disadvantaged households find affordable housing, says a recent blog post from the Harvard Joint Center for Housing Studies.

In the article “New Multifamily Construction is Out of Reach for Most Renters,” Joint Center Research Analyst Elizabeth La Jeunesse notes that the 2010s is on track to be the strongest decade for renter growth in history even though the incomes of renters haven’t kept up with rent costs.

Using data from the U.S. Census Bureau and the American Community Survey, the Harvard researcher states that the difference between “affordable rent levels” and “median asking rents” was greatest in the Northeast and West, while Midwest and South were the lowest. In the Midwest, the “median asking rent” for newly constructed multifamily rental units was $1,120, while the “affordable rent level” was $730. (Affordable housing is defined as no more than 30 percent of gross household income.)

Find out more.

IAR members blanket the map with responses on Ad Tax Call for Action

Did you answer IAR’s Call for Action on stopping a proposed Ad Tax?

More than 3,000 people participated in the Call for Action over the past month. Each person had the opportunity to send an email to his or her state senator or representative, making the total number of emails sent soaring over 6,000.

IAR has crunched the data, and this map shows the impressive response that came from all corners of the state.

REALTORS® would be especially hard hit by a proposed 10 percent sales tax on advertising and related services. After all, REALTORS® invest heavily in print and electronic advertising to help market properties for their clients.

The ripple effects of this policy would be huge, as you can see from this video prepared by a coalition of groups that are fighting this proposal.

It’s not too late. Make your voice heard. Follow this link to participate in the fight to stop this business-unfriendly policy.

Why your real estate Facebook posts fail (and what you can do about it)

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Illinois REALTORS® can demonstrate their value to clients by effectively using social media, says an article on Inman.com.

The article, “Why people are ignoring real estate agents on social media,” offers suggestions for real estate professionals to use – for example – on Facebook pages and Pinterest boards:

  1. Use do-it-yourself ideas, organizational advice, recipes and self-improvement tips.
  2. Maintain an 80/20 ratio of stories (80 percent valuable to clients and 20 percent about the professionals’ activities and services).

The author states these suggestions are important for two reasons. First, research shows that food home and lifestyle subjects account for about 85 percent of shared information on social media. Second, research indicates that even though real estate pros frequently share information and use photos online, they fail to engage with customers (“Despite the highest frequency of posting, the real estate industry had the lowest engagement rate,” and “Seventy percent of real estate clients forget their agents after only a year.”)

Find out more.

REALTORS® learn how to increase political involvement at IAR event

Nearly 100 Illinois REALTORS® were taking part in a full day of training on Tuesday, July 21, 2015, to help generate political involvement at the local association level.

Former IAR president and NAR Broker Involvement Council Chair Michael Oldenettel chats with Arlene Davis, NAR REALTOR® Party Member Involvement Committee chair, during a session held in Springfield on political advocacy.

The REALTOR® Political Involvement Committee Strategic Planning Session at IAR’s Springfield headquarters was led by chair Ed Neaves, and included presentations from a several of those working to make sure private property rights issues are at the forefront.

Joining Neaves were Arlene Davis, from Vidalia, Ga., who gave a presentation as part of her role on the NAR REALTOR® Party Member Involvement Committee, and Chip Ahlswede, who is a REALTOR® Party consultant.

The session brought together about 100 people from throughout Illinois, and was to end with local associations crafting a political involvement plan to reach more members.

Broker post-license webinar less than 2 weeks away

July 28 and 29 are the last scheduled dates until October for the Broker Post-license Applied Real Estate Practices 15-hour webinar, so don’t let your summer slip away, register today!
If you are a broker who was licensed after Feb. 1, 2014, you must complete the 30 hours of post-license course work required by the state of Illinois before April 30, 2016 to renew your license.
About the course:
Lynn Madison, one of the top instructors in Illinois, will lead this two-day webinar from 9 a.m. to 4:30 p.m. CDT July 28-29, 2015. Broker Post-license Applied Real Estate Practices accompanies the Broker Post-license Topics course which is available in home study from IAR’s Licensing & Training Center. Register for both courses through the IAR website: Step 6 “Complete the Required 30 Hours of Post-license Training.”
Within two business days of completing this webinar, you will need to schedule (not complete) your proctored exam. Click here for approved proctor locations.
The IAR Licensing & Training Center is your trusted source for state-approved real estate licensing and continuing education courses. If you have questions about this or other IAR courses, please call 800-752-3274 or e-mail education@iar.org.