Northwest News April 2017

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Understanding the Basics of the Ohio Good Funds Law

Effective April 6, 2017

What are Good Funds?

For transactions involving residential real estate, settlement agents may disburse only when the funds for the transaction qualify as Good Funds, as defined by Ohio Stature*.

What are acceptable forms of Good Funds under the Ohio statute?

1.) Wire Transfers

2.) Checks: Personal, Business, Certified, Cashier's, Official Check or Money Order. The combined dollar amount of these items cannot exceed $1,000.00

3.) Automated Clearing House (ACH) Transfers and checks from the United States, the State of Ohio, or Ohio municipalities.

4.) Checks from a real estate broker's escrow/trust account.

While the Ohio statute defines what is acceptable as Good Funds, following the statutory guidelines will not protect the settlement agent from liability for loss arising from uncollected funds.

Are there any other conditions for Good Funds?

Yes, the funds must be immediately available for withdrawal and disbursement by the agent for the transaction.

For additional information regarding Good Funds, contact us today!

*See ORC 1349.21, Consumer Protection- Disbursing from an escrow account, effective 01/01/1996, amended effective 04/06/2017 for further details.

5 Ways to Better Manage Your Social Media

When using social media, make sure you aren't turning off potential customers with your behavior online. offers the following tips on behaviors to avoid on social media, including:

Being present on too many social media platforms:

"Be careful not to create a social media behemoth you can't control," writes Forbes columnist Mike Templeman. "If you can't maintain fresh, engaging content on all your social media channels, try backing off the ones that you're having a hard time keeping up with."

Worrying too much about your number of followers:

Templeman notes that there is no advantage gained by having a high number of followers. "Spamming the web does not improve user engagement or ROI," he notes

Using too many hashtags:

Sure, hashtags can help increase your visibility, but excessive use can quickly get #annoying.

Referring to your brand too much:

Vary the type of content you post so you don't become a one-trick pony. Retweet or repost content that you feel can add value to your followers, Templeman notes.

Posting too much:

Do not post every couple of hours. Be consistent with your timing, but don’t overshare. Consider blogging once a week and posting one or two daily Facebook status updates, while more frequently updating Twitter, Templeman says.

Source "5 Ways to Better Manage Your Social Media" (Apr. 3, 2017) REALTOR® Magazine


Zillow launching, new site focused on Millennials

Zillow Group, an online real estate company, is set to launch its latest real estate website: The website will launch in May 2017 and will offer a new search experience that’s designed to reach Millennial homebuyers.

By: Kelsey Ramirez,, March 30, 2017

Expert Tips for Upping Your Relocation Game

The necessity for thorough communication and follow-up is crucial during any real estate transaction, but maybe never more so than during an out-of-state or international relocation.

By: Daily Real Estate News, RealtorMag, March 24, 2017

Improve Customer Service on Social Media

The pinnacle of great customer service is reaching your clients how they want to be reached, and for many, that’s on social media channels. Platforms like Facebook, Twitter, LinkedIn, YouTube, and others offer a two-fold benefit to real estate professions: First, you can take interactions with your sphere to a higher level by creating meaningful relationships through comments, direct messages, targeted posts and videos, and photos, says customer service expert Shep Hyken. Second, it’s an avenue to demonstrate your professionalism, attention to detail, and dedication to your business.

By: Daily Real Estate News, RealtorMag, March 31, 2017


Multifamily Amenities Grow Up

Developers, owners, and managers of multifamily properties have some important choices to make when it comes to public spaces. Big-ticket amenities might draw tenants and buyers, but they also eat up a lot of space and capital.

By: Meg White, Realtor.Org, January 2017

Big Banks Behind Growth in Home Flipping

Your commercial real estate website is the digital front door to your business, and if location is the key to the commercial real estate business, then technology is the key to a successful commercial real estate website.

By: Daily Real Estate News, Realtor.Org, December 26, 2016


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