Friday, March 2, 2012

WakeEd - Real estate agents express concern about new Wake ...

The new Wake County student assignment plan is still a hard sell for at least some real estate agents.

As noted in today's article and in today's column by Burgetta Wheeler, the elimination of base assignments is forcing real estate agents to change how they market schools. For instance, they're now being told by the Wake County Board of Realtors they can no longer put in home listings that they're assigned to specific schools.

The Triangle Multiple Listing Services listed the new assignment plan as a wild card in the area housing market in its January newsletter.

"On January 1, a new choice-based system was employed," says the MLS newsletter. "This system has advocates and detractors and many are wondering what its impact will be on the residential market. Since we are no longer able to search for specific Wake County schools, there will be a lack of hard data to quantify whether the system is being viewed as favorable or unfavorable."

Some veterans real estate agents say the plan is making it hard on them to explain the school situation to prospective homebuyers.

?It?s very confusing to the general public,? said Nikki Belsito with ERA Pacesetters. ?I recently tried to explain that we can?t do a home search based on the schools for the home. The woman was starting to get upset with me, like I was the one who decided that would be a good thing.?

?We?re already at a time when the market has been hurt by the economy, and then to give potential buyers another reason for hesitation is just devastating, absolutely devastating,? added Joseph Hodge of Hodge & Kittrell Realtors.

Superintendent Tony Tata has tried to win over the real estate agents. At a December meeting, Tata told the Realtors that choice plans in other district have improved housing values.

School board member John Tedesco said real estate agents will adjust. He said that the old assignment plan provided a false sense of security because there was no guarantee that base assignments wouldn't be changed.

Tedesco said that real estate agents will be able to tout how the new plan provide stability.

"If I was a real estate agent, I'd be excited about the plan," Tedesco said. "This provides more choices and stability than the old plan."

Source: http://blogs.newsobserver.com/wakeed/real-estate-agents-express-concern-about-new-wake-county-student-assignment-plan

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