what is the R-Factor
Recently, NAREB (Nantucket Association of Real Estate Brokers) lightened the rules to become a member of our organization per the DA’s instruction. Reason being that the more choices the consumer has, the better for the consumer. I’m wondering if those were sound instructions, though. There are a lot of nuances with Nantucket real estate and if the broker doesn’t know them, the consumer could get hurt. For instance, you own a lot in LUG-1, 40k sf, zoning, but your lot is actually 80k sf and shaped like the coast of ACK, do you have one, two or more lots? How do you calculate the R-Factor? Wait, what is the R-Factor?