ASHINGTON —
The Latest at the Trump management’s proposed 25 percent tariffs on $50 billion in Chinese imports to protest Beijing’s alleged robbery of an American era. (all times local):
1:25 p.M.
The Internet Association, which represents corporations including Google, Facebook, and Amazon, expressed doubts about advocating the contemporary tariffs on China. “There’s no doubt the U.S. Authorities can and have to cope with China’s trade practices,” said Melika Carroll, the affiliation’s senior vice chairman of global authorities affairs. “But clients and American job creators ought to not be caught in the passing fire. … These tariffs will go away our clients worse off, stifle increase and make it harder for the virtual economy to be triumphant.”
2:05 p.M.
The Chinese embassy in Washington says it “strongly condemns” the Trump administration’s planned price lists. In a statement, the embassy says the proposal “serves neither China’s interest, no longer the U.S. Interest, even less the interest of the worldwide economic system.” And it hinted that Beijing would retaliate with trade sanctions of its personnel: “As the Chinese pronouncing is going, it’s miles most effective polite to reciprocate.” The embassy stated China would be trying to find comfort from the World Trade Organization and “take corresponding measures of equal scale and strength against U.S. Merchandise according to Chinese regulation.”
3: forty-five p.M.
The U.S.-China Business Council has long complained that China’s guidelines have discriminated against U.S. Technology corporations. But the council argues that the modern-day proposed price lists towards Beijing are not the answer.
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“Unilateral tariffs may additionally do greater damage than accurate and do little to deal with the problems in China (highbrow property) and tech transfer regulations,” stated John Frisbie, president of the council.
4: fifty-four p.M.
The Trump administration recommends 25 percentage price lists on $50 billion in Chinese imports to protest Beijing’s alleged theft of American technology.
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The Office of the U.S. Trade Representative has issued a list focused on 1 three hundred Chinese products, consisting of business robots and telecommunications equipment. But the proposed tariffs wouldn’t take effect earlier than a public remark length ends May 11. The flow is the modern-day in a series of aggressive actions the administration has taken to fight what it calls unfair trade practices by China and other nations. American businesses worry that the management’s moves will draw painful retaliatory sanctions. Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Potential and existing For Sale by Owners should take National Association of Realtors (NAR) ongoing rhetoric with a grain of salt. The NAR has a significant stake in how you choose to sell your property – did you know that there is approximately $60 BILLION in real estate commissions paid out annually (up to 19 billion from 2000)? In a well-planned and funded effort to justify their services and the astronomical commissions that they collect, the NAR spends millions of dollars every year inundating the average homeowner with propaganda. Realtors would have you believe that it is totally impossible to market and sell your own home successfully. The reason they propagate this fallacy is painfully obvious, but it is shocking how convincing they can be and how frequently homeowners fall prey to their ploys.
- Let’s put some of the most common NAR rhetoric to sleep:
- FSBOs do not sell for less
- FSBOs do not take long to sell
- FSBOs do not unwittingly expose themselves to potential thieves, rapists, or murderers.
- FSBOs can effectively market their own property
- FSBOs can effectively sell their own property
- FSBOs can save thousands of dollars in commissions.
Truth be known, the National Association of Realtors does some things very well. First of all, they gather, compile and distribute very accurate data related to real estate that can prove very helpful when creating a For Sale by the Owner marketing plan. This data is gleaned from hundreds of thousands of home sales, so the data is very accurate. Most, if not all, of the data is readily available on the internet. This data includes, but is not limited to, the average number of days on the market (DOM), average and median sale prices (compiled monthly and seasonally adjusted), unit sales by region, and unit sales by “Metropolitan Areas.”
The NAR also compiles statistics related to “Buyer” and “Seller” tendencies; these statistics are generated through surveys of both buyers and sellers. For instance, some of the data speak volumes; for instance, over 70% of homebuyers in 2006 used the internet to find the home they ultimately purchased before they hired a real estate agent. Secondly, 18% of home purchasers claimed that the first introduction to the home they purchased was a FOR SALE lawn sign. Do the math – that means over 88% of “BUYERS” found the property they ultimately purchased without the assistance of a real estate agent – yet 85% used an agent to facilitate the purchase – who says marketing doesn’t work.
The second thing they do very well is market real estate; this is done through their proprietary data service – the Multiple Listing Service, better known as the MLS. This real estate listing data, while proprietary, is not restricted to real estate agents; it is available to virtually anyone that has access to the internet. Realtor.com, the consumer-facing website, is a by-product of the MLS; this primary marketing tool for Realtors is also available to virtually anyone. For Sale by Owners can invest in Flat Fee MLS. The concept is simple – instead of the “Listing Agent” charging a commission based on the sale of your home, the homeowner agrees to pay a Flat Fee to a registered Realtor – this fee is typically in the $399 – $699 range, depending on your geographical area and level of service. The agent agrees to list your property on the MLS. This exposes your property to all Real Estate agents through the MLS database and most potential buyers through Realtor.com (remember over 70% of buyers found the property on the internet BEFORE they hired an agent), which enjoys over 7 million monthly visitors that generate over 350 page views. BEWARE – not all Flat Fee MLS is created equal – make sure you know what you are buying and some level of support.
One of the biggest problems that I have always had with Real Estate agents (outside of their high commission fees) is that they have a different mandate than the typical homeowner. A real estate agent’s mandate is to sell “a” home and get paid their commission. The homeowner’s mandate is to sell their home. How often do you think a prospective buyer calls in to set up a showing for a specific property (your property), and the agent says – “sure, we’ll set up an appointment – but while we’re out looking at that property, let’s look at these “others” that I think you may be interested in.” Personally, I don’t blame them; that is how they earn a living – I would do the same thing; it’s called “hedging your bets.” The inherent problem is that a real estate agent can be successful without the homeowner being successful. A great example of this is “Open Houses,” which is simply a lead generation platform for the listing agent. The “visitors” come to see your home, the agent takes their name and contacts them to sell them any house – they have used your property and time as a hook.
I always have to defend myself, and I want to be clear, I do not hate real estate agents. They definitely perform a service that some individuals are incapable of performing. I do, however, have a problem with the fees that they charge and their relentless attack on FSBOs. I have always felt that if someone has to take a run at the competition to justify themselves, it was a sign of weakness.
Bottom line, you can sell your own home and save thousands of dollars; do not be swayed by the NAR and its unsubstantiated claims. Do not believe something just because you saw it on television – it is a shameless effort to protect themselves, their association, and a livelihood under significant pressure to justify its fees. It’s not a coincidence that the U.S. Department of Justice is currently investigating the industry for antitrust violations. Change is coming – and it will shake the very foundation that this association was founded. The internet has changed the way people buy and sell real estate – it’s time for Realtors to accept that fact and adjust accordingly or go the way of the Dodo bird.
