Space Coast Association of REATLORS® Blogs

Florida Realtors Public Policy Weekly Status Report - 12/8/23

By Kymberly Franklin posted 21 hours ago
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On Tuesday, Gov. DeSantis announced his Focus on Florida’s Future budget proposal for Fiscal Year 2024-2025. His budget proposal totals $114.4 billion and includes significant levels of funding for some of our most important legislative priorities. I’ll break out those funding totals below but first I just want to remind you of how the governors budget proposal process works. Prior to each legislative session, the Governor of Florida provides a budget proposal to state lawmakers. This proposal outlines their spending priorities and the amounts they believe should be allocated to the different areas of the state budget, such as education, healthcare, ...
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The Melbourne City Council Approves Additional Homestead Exemption for Seniors with Limited Income

By Kymberly Franklin posted 4 days ago
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City Council Approves Additional Homestead Exemption for Seniors with Limited Income Post Date: 11/29/2023 3:01 PM The Melbourne City Council has approved an additional homestead exemption of $25,000 for residents over the age of 65 with limited income. The exemption will go into effect for tax year 2024. Eligible residents who apply for the exemption with the Brevard County Property Appraiser will see the adjustment in their taxes due by March 31, 2025. Any resident 65 or older who is eligible under Section 196.075 of the Florida Statutes and whose income does not exceed the household income limitation published by the Florida ...
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The City of Palm Bay: Community Survey Resiliency Best Practices

By Kymberly Franklin posted 4 days ago
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Community Survey Resiliency Best Practices Post Date: 12/04/2023 10:18 AM The City wants your opinion! The City is seeking community input on resiliency following a natural disaster, such as major storms, flooding events, and sea level rise. Your input will inform the City’s priorities for establishing resiliency best practices for the Palm Bay community. The survey will be available through January 31, 2024. Join the City on Tuesday, December 5, 2023 at 6 PM in Palm Bay Council Chambers to learn more about resiliency best practices and policy considerations from East Central Florida Regional Planning Council (RPC). Residents and stakeholders ...
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Now Accepting 2023 Award Nominations

By Kymberly Franklin posted 8 days ago
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🏆If you know a REALTOR® member (or a Business Partner Member for Business Partner of the Year) from our Association that you would like to nominate for these prestigious awards, send an Email with your nominee's name. A short questionnaire will be sent to your nominee that asks about their activities at the Board. ⭐️2023 REALTOR® of the Year ⭐️2023 Business Partner of the Year ⭐️2023 Good Neighbor (Humanitarian) ⭐️2023 Rising Star ⭐️2023 REALTOR® Spirit Award The deadline for entries is January 12, 2024. The winners will be announced at the 2024 Installation Gala on January ...
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Florida’s Business Rent Tax Drops 1% on Dec. 1

By Kymberly Franklin posted 8 days ago
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Florida’s Business Rent Tax Drops 1% on Dec. 1 Fla.’s business rent tax, now 5.5%, drops to 4.5% on Friday. Florida Realtors advocates for a complete elimination of the tax and sees this step as a significant victory. TALLAHASSEE, Fla. – The sales tax rate levied on Florida businesses renting or leasing commercial property – known as the business rent tax (BRT) – drops by a full percentage point on Friday, Dec. 1, going from the current 5.5% to 4.5%. “Reducing the Business Rent Tax continues to be a high priority for Florida Realtors®, and our efforts over the past six years have helped countless businesses expand and become more successful,” ...
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In Loving Memory of, David Michael Derrick

By Kymberly Franklin posted 9 days ago
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It is with great sadness that we announce the passing of David Michael Derrick. We extend our deepest sympathies to his family and friends during this difficult time. David Michael Derrick, beloved husband, father, and community real estate broker, passed away peacefully on November 26th. Mike was born on April 17, 1957, in Bitburg, Germany to Irvin Hendrix Derrick, and Betty Koon Derrick. Mike is survived by his wife of thirty-three years, Natalie Willis Derrick, daughter Megan Derrick, sisters Karen (Doug) Hamilton, Robin (Robert) Luber and younger brother Stephen (Sally) Derrick. Mike was a cherished member of our community, having joined ...
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FlexMLS Tip: Listing Collections

By Kymberly Franklin posted 10 days ago
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Creating a Listing Collection in Flexmls allows you to save and keep track of a specific group of listings. If you're looking to keep track of a specific group of listings in Flexmls, creating a Listing Collection is the way to go. This feature allows you to save and organize listings according to your preferences. To get started, simply navigate to the My Listings menu and select Listing Collections. From there, you can choose to create a new Collection and give it a name. Once you've created your Collection, you can start adding listings to it by selecting the ones you want and clicking the Add to Collection button. You can also remove listings from ...
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Brevard County Housing Statistics: 2023 October

By Kymberly Franklin posted 18 days ago
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Palm Shores, FL -- October 2023 Brevard County housing statistics report for Single-Family homes and Townhouses/Condos provided by Space Coast Association of REALTORS®, the voice for real estate in Brevard County. You will find monthly, quarterly, and yearly reports of Brevard County Sales, detailed by Single Family Homes and Townhouses/Condos, on our website . In addition, there are Yearly Distressed Market Summaries for both types of properties. A quick recap of the Brevard County Residential Report for October 2023: Closed Sales are down -11.6% for October 2023 in which the number of units closed was 770 compared to 871 in October ...
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Florida Realtors: Commercial Real Estate Will Revitalize

By Kymberly Franklin posted 22 days ago
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Commercial Real Estate Will Revitalize NAR Chief Economist Yun: Except for office space, commercial property rates are expected to stabilize, though higher interest rates are impacting commercial loans. ANAHEIM, Calif. – Commercial property rates are expected to stabilize – aside from office space – and commercial real estate will revitalize, according to NAR Chief Economist Lawrence Yun. Yun presented yesterday at the Commercial Economic Issues and Trends Forum at the 2023 NAR NXT, The Realtor® Experience, in Anaheim, California, to discuss economic trends and issues affecting the commercial real estate industry. “There’s tremendous difficulty ...
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Unlocking RPR’s Potential: A Buyer’s Agent Daily Playbook

By Kymberly Franklin posted 23 days ago
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Unlocking RPR’s Potential: A Buyer’s Agent Daily Playbook Sometimes in real estate, it seems like there’s an emphasis on selling and the skills and tasks that go with it. Seller’s agents are well-known for listing presentations, home pricing strategies, open houses, prospecting and marketing. However, it’s really only half the story. Buyer’s agents help clients find properties that meet their clients’ demands and their budget, they show houses, and they help negotiate realistic offers. Listing agents might get all the glory, but the buyer side is equally important! Let’s explore the day-to-day of a proactive buyer’s agent who knows how to make ...
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New Member benefit- ListTrac

By Kymberly Franklin posted 23 days ago
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The Space Coast Association of Realtors is excited to announce a New Member benefit- ListTrac, a powerful online activity reporting tool for real estate brokers and agents. ListTrac offers unbiased and actionable marketing intelligence, all in one place, to help guide listing campaigns. With ListTrac, brokers, agents, and MLS executives can keep a pulse on the performance of their listings with metrics such as listing views, leads, shares, and favorites captured from major portals, broker sites, and MLS systems. This provides them with the necessary information to make informed decisions regarding their listings and campaigns. Moreover, ListTrac ...
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Gov. Signs My Safe Florida Home and Other Bills

By Kymberly Franklin posted 24 days ago
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Gov. Signs My Safe Florida Home and Other Bills By Jim Turner and Ryan Dailey Gov. Ron DeSantis signed bills passed during the recent special session, including up to $10K for owners to harden homes and more aid for Hurricane Idalia victims. TALLAHASSEE, Fla. – On Monday, Gov. Ron DeSantis signed four bills passed during a special legislative session last week, including measures to fund the My Safe Florida Home Program (MSFH), provide hurricane relief, bolster security at Jewish day schools and expand school vouchers. The special session came amid the backdrop of the war between Israel and Hamas, with state lawmakers taking steps ...
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Florida Real Estate Associations Continue Partnerships with Supra, Reinforcing Widespread Adoption of Proven Digital Services

By Kymberly Franklin posted 25 days ago
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Florida Real Estate Associations Continue Partnerships with Supra, Reinforcing Widespread Adoption of Proven Digital Services SALEM, OREGON - Nov. 14, 2023 Supra , a leading digital services provider for the real estate industry, is pleased to announce the continuation of long-standing partnerships with several prominent Central Florida real estate associations. Supra is a part of Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions. The following real estate associations have all confirmed their commitment to provide cutting-edge access solutions and cooperating access to their members, with Supra ...
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October 2023 Commercial Real Estate Market Insights

By Kymberly Franklin posted 26 days ago
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October 2023 Commercial Real Estate Market Insights In the final quarter, there is usually the opportunity to end a year and start the next year strong. Although the third quarter of the year has already ended, there is still much uncertainty in the market since the Federal Reserve continues its tightening monetary policy. The labor market remains firm, and the U.S. economy grows faster than the expectations. However, risks are still anticipated in the market as the full impact of the Federal Reserve's higher rates may not have been fully reflected yet in households and businesses. As a result, the commercial ...
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Video: How to explain your compensation to clients

By Kymberly Franklin posted 11-07-2023
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Video: How to Explain Real Estate Compensation to Clients Share how you get paid and where the money comes from, step by step. Talking about money is complicated and sometimes stressful. Talking about the complexities of your real estate compensation can be even more difficult. Check out this animation for an easy approach to explaining how you get paid. Share widely and use with clients who might want the visual guide. The National Association of REALTORS® also encourages the use of buyer representation agreements to reinforce expectations for agents’ pay and services. Here are some key points you should remind clients about how ...
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RE Q&A: Is a Reverse Mortgage a Bad Idea?

By Kymberly Franklin posted 11-03-2023
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RE Q&A: Is a Reverse Mortgage a Bad Idea? By Gary M. Singer An older couple has home equity and wants to use some of that money to augment their fixed income hit by inflation. A reverse mortgage sounds ideal – but is it? FORT LAUDERDALE, Fla. – Question : My wife and I own our home and faithfully pay our mortgage and other bills. We retired a few years ago and live on a fixed income. With the rising price of everything, we are getting concerned about making ends meet and are considering a reverse mortgage after seeing a TV commercial. Is this a bad idea? – Kelly Answer : The reason there are many different ...
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Condolences to the loved ones of John Daignault

By Kymberly Franklin posted 11-01-2023
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It is with our deepest sympathy to announce that John V. Daignault left this world October 16, 2023. 2 weeks shy of his 90th birthday, after a short but fierce battle with cancer. He was a well-loved member of the Merritt Island community. Mr. Daignault founded Daignault Realty in 1971 which is the same year he joined Association. John lead the Organization as Past President of the Space Coast Association of REALTORS in 1999 and earned his Realtor Emeritus status after serving 52 years as a member. His volunteer leadership with the Association was instrumental in leading us to where we are today. He was predeceased by his beloved wife of 65 years ...
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National Association of REALTORS: Burnett Questions Answered

By Kymberly Franklin posted 10-31-2023
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Burnett Questions Answered In the case of Burnett v. NAR et al , on Tuesday, Oct. 31, the jury found NAR and the co-defendants liable. The plaintiffs claimed real estate commission rates are too high, buyer brokers are being paid too much and that NAR rules and corporate defendants’ practices lead to set pricing. The reality is that NAR rules prioritize consumers, support market-driven pricing and promote business competition. We stand by the fact that NAR’s guidance for local MLS broker marketplaces ensures consumers get comprehensive, equitable, transparent and reliable home information and that brokerages of any size, service ...
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Space Coast MLS Tip: USE OF MLS INFORMATION (Section 13)

By Kymberly Franklin posted 10-30-2023
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USE OF MLS INFORMATION (Section 13) Section 13 - Limitations on Use of MLS Information: See Fine Section 22.2 Information from MLS compilations of current listing information, from statistical reports, and from any sold or comparable report of the association or MLS may be used by MLS Participants as the basis for aggregated demonstrations of market share or comparisons of firms in public mass-media advertising or in other public representations. This authority does not convey the right to include in any such advertising ...
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Changes to the MLS Rules and Regulations and Unlicensed Assistant Access

By Kymberly Franklin posted 10-30-2023
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The Board of Directors recently approved changes to our MLS Rules and Regulations and Unlicensed Assistant Access. We strongly suggest you take the time to read and become familiar with the changes. Changes to the MLS Rules and Regulations: strike-through is to be removed, and underlined is the new language. MLS Rules & Regulation Changes: Changes to Section 1.21b Waterfront A waterfront property shall be those classified by the Brevard County Property Appraiser Codes as noted: 110- Riverfront, 120- Oceanfront, 130- Canal, 142- Lake. A waterfront property must be a property that fronts or abuts a body of water. Waterfront ...
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