LUBBOCK REALTOR® November 14, 2013 Phone (806) 795-9533 Fax (806) 791-6529 5015 Knoxville Avenue, Lubbock Texas 79413-4039 2013 Board Officers Coby Crump, President Nancy Rawls, President Elect Rusty DeLoach, Treasurer Charles Kearney, Secretary Debora Perez-Ruiz, Chairman of the Board
OCTOBER MONTHLY MARKET COMPARISON Categories
Oct 2012
Oct 2013
Percent Change
Total Residential Property Sales
261
280
7.3%
Total Residential Dollar Volume
$39,607,330
$45,278,594
14.3%
Average Single-Family Sales Price
$151,752
$158,317
4.3%
DIRECTORS Cynthia Arriaga, 2013—2014
Median Single-Family Sales Price
$123,000
$128,250
4.3%
Jef Conn, 2013—2014
Total Active Residential Listings
1,468
1,265
-13.8%
Mary Ann Grafft, 2012—2013
Total Pending Residential Sales
237
188
-20.7%
Frank Harmon, 2013—2014
Months Inventory*
5.6
3.8
-32.1%
Jacky Howard, 2013—2014
*Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity.
Tara Newton, 2012—2013
Year-to-Date Comparison
Gary Owen, 2012—2013 Jeff Sellers, 2012—2013
Jan-Oct 2012
Jan-Oct 2013
Percent Change
Total Residential Property Sales
2,939
3,531
20.1%
Dan Williams, 2013—2014
Total Residential Dollar Volume
$434,253,456
$555,737,900
28%
Jana Wuthrich, 2013—2014
Average Single-Family Sales Price
$147,756
$154,931
4.9%
EX OFFICIO DIRECTORS Cheryl Isaacs, 2011-2013 TAR
Median Single-Family Sales Price
$119,950
$125,500
4.6%
Susan Shakespeare, 2012—2013 Scott Toman, 2012—2013
Director John Walton, TAR Director Lifetime
Categories
Notice on this information: Multiple Listing Service data is reported to the Real Estate Center at Texas A & M and the National Association of REALTORS® on the eighth of each month. Year‐to‐date data may be corrected for information reported after the eighth. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all activity in the real estate market.
Bylaws Changes for Membership Approval The Board of Directors is proposing several changes to the association’s bylaws that will improve the ability of the association’s day-to-day operations. The Board of Directors created a Bylaws Task Force to examine and wordsmith the changes needed. The task force was comprised of Coby Crump, Tim Garrett, Cheryl Isaacs, Tony Lloyd, Joe Murfee, and Celeste Patterson. The recommendations the task force proposed were approved by the Board of Directors at their regularly scheduled meeting, October 24th. Text in red indicates the language that will be removed. Text that is blue and underlined indicates the language that it will be replaced with. If you have any questions about the changes, please contact Cade Fowler, Association Executive at cadefowler@lubbockrealtors.com or by phone at 795-9533. Article X—Dues, Fees and Assessments Section 4. Adjustment of Dues and Fees and Assessments by the Directors. The Board of Directors by two-thirds affirmative vote of a quorum can increase or lower any dues or fees or assessments of any class of Membership of the LUBBOCK ASSOCIATION OF REALTORS® no more than 10%. This adjustment is restricted to one adjustment in any calendar year. Dues of any class of membership of the LUBBOCK ASSOCIATION OF REALTORS® can increase or decrease no more than twenty percent (20%) in a calendar year as approved by the Board of Directors by two-thirds vote of a quorum. Any variance from the aforesaid must be voted on by the Membership at the Annual Meeting or at a meeting called for that purpose. Dues, fees and assessments shall be defined as any monies charged for any and all professional services mandatory or elective provided by the LUBBOCK ASSOCIATION OF REALTORS® other than those considered social, i.e., luncheons and banquets. The schedule of dues, fees and assessments shall be Page 1
established in the annual budget by the Finance Committee and submitted for approval by the Board of Directors.
MEMBER NEWS Total Members 841 (↑ 11.8% YTD) 175 Companies │ 666 Salespersons
Rationale: Limiting the amount that dues or fees can increase or decrease does not allow for increases in costs of REALTOR® Applications new services, such as MLS fees. Companies Section 6. Expenditures. (a) The Board of Directors shall administer the finances of this Association but shall not incur any capital expenditure that was not previously approved in the annual budget without authorization by vote of a majority of the quorum of REALTOR® Members. at a meeting called for that specific purpose. However, in case of an emergency, which requires immediate repairs or alterations, The Board of Directors is authorized to use discretion in making emergency repairs or alterations. up to $5,000.00. The Membership shall be informed of such action immediately.
Jackson Real Estate
Raymon Jackson, Designated Broker
Coldwell Banker Paxton Real Estate
Brett Paxton, Designated Broker
Salespersons Edwina Wight
Westfall Realty, Inc.
Maggie Riley
Rush, REALTORS®
Dallas Marley
Keller Williams Realty
David Terry
Coldwell Banker Rick Canup, REALTORS®
(b) The Board of Directors cannot incur any debt obligation without express authorization by vote of two thirds of a Teresa Smith quorum of REALTOR® Members called for that specific David Harrison purpose. Rationale: With today’s costs, most repairs and alterations cannot be done for $5,000, limiting the association’s ability to do repair the association’s facility. Under advisement from the association’s legal counsel, the wording of part B keeps the association from being able to be billed for anything, including monthly bills, equipment leases, etc. without the prior approval of the membership. This essentially keeps the association from being able to conduct every business. ARTICLE XI - Officers and Directors
Exit Realty of Lubbock Exit Realty of Lubbock
Cassandra Mojica
Exit Realty of Lubbock
Gwen Jackson
Jackson Real Estate
Rodney Allison
Jackson Real Estate
Brenda Dunlap
Jackson Real Estate
Iris Martin
Jackson Real Estate
Jim Walker
Jackson Real Estate
Todd Paxton
Coldwell Banker Paxton Real Estate
Rita Paxton
Coldwell Banker Paxton Real Estate
Section 1. Officers, Chairman of the Board, and Diane Lane Parliamentarian. The elected officers of this (a) Elective Officers. ASSOCIATION shall be: a President, a President Elect, a Sharon Lee Treasurer and a Secretary Secretary/Treasurer. They Mac Farrar shall be elected for terms of one (1) year.
Donna Wheeler
Rationale: Combining the positions of Secretary and Treasurer will decrease travel expenses for leadership Rocky Lucas positions and shorten the amount of time an individual will Gilbert Arredondo have to commit in a leadership role. Carol Collier Section 2. Duties of Officers. (d) Secretary/Treasurer. (1) The Treasurer shall Chair the Finance Committee. (2) Call roll and determine a quorum at Board of Director meetings. (3) Report correspondence to the Board of Directors.
Coldwell Banker Paxton Real Estate Coldwell Banker Paxton Real Estate Farrar & Associates Real Estate Farrar & Associates Real Estate Farrar & Associates Real Estate Payne Family Realty Kearney & Associates, REALTORS®
Rationale: This change keeps combines the requirements for Secretary and Treasurer. Section 3. Board of Directors. (b) Executive Committee. Within the Board of Directors there shall be an Executive Committee consisting of the Elected Officers, the Chairman of the Board, and a Member-at-Large elected from among the Directors by the Directors. Each shall have voting privileges in Executive Committee meetings. Page 2
Rationale: Clarifies the responsibilities of those within the Membership Cancellations Executive Committee. Salespersons Section 4. Election of Officers and Directors and Jason Simmons Keller Williams Realty Nominating Committee. (a) Nominating Committee. The Nominating Committee shall Lubbock Discount Realty consist of seven Members elected by the Board of Directors Matthew Tavern at least sixty (60) days prior to the annual election each year. Gaby Belding Century 21 John Walton, REALTORS® A minimum of fourteen (14) nominees shall be proposed by the Board of Directors, and seven (7) shall be elected by Jana Adkins Coldwell Banker Rick Canup, REALTORS® plurality vote. No currently serving Officer or Member of the Board of Directors may be nominated. No more than one two Kayl Mitchell RE/MAX Lubbock (2) Members from any firm may be elected to the Nominating McDougal, REALTORS® Committee. In the event two three (3) Members from the Racquel Blaylock same firm receive enough votes to be elected, the firm Keller Williams Realty Member with the fewest votes shall be dropped from the top Tonya Alexander seven and the nominee in the eighth position shall be REALTORS® on the Move advanced to the open position. Should the two Members The WestMark Companies to Berkshire from the same firm have an equal number of votes, a coin Hathaway Home Services Anderson Properties toss shall be used to eliminate one. No elected Member shall Mona Bromley serve two consecutive terms. After election, the Members of RE/MAX Lubbock to Farrar & Associates Real the Nominating Committee shall choose a chairman. (1) The Secretary/Treasurer of the Association shall advise the Nominating Committee in writing of the offices to be filled. The Nominating Committee shall solicit names from the membership for nominees and shall choose candidates for President Elect, Treasurer, and Secretary/Treasurer and shall choose candidates for Directors equal to twice the number of vacancies to be filled. The written report of the Nominating Committee shall be presented to the Board of Directors and then mailed or given distributed to each REALTOR® Member at least twenty-one (21) days preceding the election. Rationale: As the association’s membership grows, limiting the number of agents that can serve on the Nominating Committee will restrict the operation of the association.
Beverly Farrar
Estate
Bill Francis
Helen Bayer, REALTORS® to Houses R Us Realty
Reinstatements Bridget Gonzales
Keller Williams Realty
Other Changes Prudential Real Estate Anderson Properties name changed to Berkshire Hathaway Home Services Anderson Properties Angela Jones, Keller Williams Realty, change to non-MLS member
(c) Election Procedures. The election of local Officers and Directors shall take place on the third Thursday in September. Election shall be by ballot and all votes shall be cast in person, or where permitted by state law, by electronic means by the Member eligible to vote, in accordance with procedures established by the Board of Directors on a ballot prepared by the LUBBOCK ASSOCIATION OF REALTORS® for the election. The voting box will open at 8:00 a.m. and close at 5:00 p.m. The ballot shall contain the names of all candidates and the offices for which they are nominated. Early voting is permitted and will take place at the Association office or by electronic means, commencing on the Friday, Monday, Tuesday, and Wednesday, immediately preceding two (2) weeks prior to the election. The Election Committee shall establish procedures for early voting. Rationale: Allows for more time for members to vote during the annual election of officers and directors. (3) Secretary/Treasurer a. REALTOR® Member in good standing. b. Holds a valid, active Texas real estate broker or salesman license. c. Served as a Director. d. Served at least one term as a Member of the Finance Committee. (4) Secretary a. REALTOR® Member in good standing. b. Holds a valid, active Texas real estate broker or salesman license. c. Served as a Director. Rationale: Combines the Secretary and Treasurer positions and removes the unnecessary qualifications for the Secretary position since the positions will be combined. Article XII—Meetings in the Section 4. Notice of Meetings. Written Notice shall be given distributed to every Member entitled to participatePage 3
meeting at least seven (7) days preceding all meetings. If a special meeting is called, it shall be accompanied by a statement of purpose of the meeting. Section 5. Quorum. A quorum for the transaction of business by the general membership shall consist of twenty (20) percent (%) fifteen percent (15%) of the members eligible to vote. A quorum of the Board of Directors shall be two-thirds (2/3) of the Directors. Rationale: As the association’s membership grows, it becomes increasingly difficult for twenty percent of the members to attend a general membership meeting. Article VXI—Standard Operating Procedures Standard Operating Procedures shall be developed to provide guidance and instruction for the operation of the Association and its Committees. Such operating procedures shall be the responsibility of the Association Executive and the Association Procedures Committee an appointed task force, and shall require a two-thirds (2/3) vote of the Board of Directors to be approved or amended. Rationale: The Association Procedures Committee not longer exists. This work can be accomplished as needed by a task force appointed by the Board of Directors. Article XVIII- Amendments Section 1. These Bylaws may be amended by the majority vote of the Members present and qualified to vote at any meeting at which a quorum is present, provided the substance of such proposed amendment or amendments shall be plainly stated in the call for the meeting, except that the Board of Directors may, at any regular or special meeting of the Board of Directors at which a quorum is present, approve amendments to the Bylaws which are mandated by NAR policy. (a) Proposed amendments to these Bylaws will be presented to the Executive Committee and the Board of Directors. If proposed amendments are approved, the Association Procedures Committee an appointed task force will review, wordsmith, and put into proper Bylaws format. Rationale: The Association Procedures Committee no longer exists. The work that was assigned to this committee can be accomplished by a task force as needed. The Executive Committee shall appoint task forces with the approval of the Board of Directors..
Association Partners with ListHub for Internet Listing Management What is ListHub and why is the association partnering with them? In short, ListHub takes the association’s MLS data and sends it to 125 publisher websites such as realtor.com, Zillow, Trulia, Homes.com and many more. Brokers previously received this service through Navica, although with fewer websites. Rapattoni does not offer a listing syndication service. ListHub will fill that gap by providing a platform for MLS broker members to effectively manage every aspect of advertising their listings online, including tools for making informed advertising choices, flexible options for routing consumer traffic and leads, and reporting for accurately measuring the results of where their listings are appearing. ListHub is the leading platform for listing management, serving more than 48,000 brokerage firms and 450 MLSs. More importantly, the basic services of ListHub are provided free of charge to MLS broker members.
What Are the Free Member Benefits? Broker Choice: Opt-in/Opt-out of each publisher website at the broker level Publisher Filters: Easily filter publishers by business practice criteria to make informed selections Channel Scorecard: Gain specifics on features and practices and compare publishers Publisher Star Rating System: Give brokers a forum to express their views on publisher practices Traffic Routing: Route consumer traffic from publisher websites to your MLS public website or to broker websites Lead Routing: Broker-controlled settings for each brokerage, office, or agent Single Point of Contact: ListHub provides a single point of contact for member support across all publishers Page 4
TREPAC FOR TURKEYS & A CHANCE TO WIN FREE LAR DUES! Help the South Plains Food Bank and Invest in Your Business at the same time!
For each $35 investment in TREPAC a turkey will be donated to The South Plains Food Bank, and your name will be entered into a drawing to compete for FREE LAR dues for a year! Super Size It!!! $110 investment in TREPAC = four turkeys and four entries into the competition! King Size It!!! $250 investment in TREPAC = ten turkeys and ten entries into the competition!
“TROT” all funds and this form to LAR by 5:00 p.m. Friday, December 13th (the sooner the better for a turkey count). Please make checks payable to TREPAC or pay by credit card at the LAR office or by phone, 806-795-9533. Questions? Call Rusty DeLoach, 2014 TREPAC chair, 806-778-1040.
I commit to make an investment of $_______________ to donate ___________turkeys to the South Plains Food Bank. Signed: _____________________________________________ Contributions are not deductible for federal income tax purposes. Contributions to the Texas Association of REALTORS® Political Action Committee (TREPAC), the Texas Association of REALTORS® Federal Political Action Committee (TAR Fed-PAC),and the REALTORS® Political Action Committee (RPAC) are voluntary and are used for political purposes. The amount indicated is merely a guideline, and you may contribute more or less than the suggested amount. The association will not favor or disadvantage anyone by reason of the amount of their contribution, and you may refuse to contribute without reprisal by the association. TREPAC initially receives each contribution, and a percentage is transmitted to RPAC via TAR FedPAC to meet TREPAC’s RPAC annual quota. RPAC supports federal candidates with those contributions that are charged against your limits under 2 U.S.C. 441a. The percentage forwarded to national RPAC each month may be obtained by contacting the TAR Fed-PAC administrator at 800/873-9155.