Capital Area REALTOR® magazine: May/June 2021

CAPITAL AREA

REALTOR

®

Diversity, inclusion & equity at GCAAR Meet our 30 Under 30 honorees

Getting ready for REALTOR® Fest

Official publication of the Greater Capital Area Association of REALTORS®

May/June 2021

Life is turbulent.

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CAPITAL AREA REALTOR • Sept/Oct 2016 ®

1636 R St NW, Washington, DC 20009

1:30 - 3 p.m.

1:30 - 4:30 p.m.

MD Fair Housing DC Fair Housing

R E ALTOR

This schedule is subject to change.

CAPITAL AREA

®

May/June 2021

REALTOR Fest 2021 ®

Greater Capital Area Association of REALTORS®

REALTORFest.com REALTOR® Fest - p.8

Diversity, inclusion & equity at GCAAR - p. 10

At Home with Diversity® training - p. 14

SentriLock updates - p. 30

FEATURES

in every issue

10

Diversity, inclusion & equity at GCAAR

4

A Letter from the President

16

Meet our 30 under 30 honorees

6

Association News

13

From the GCAAR Classroom

19

Member Services Corner

22

REALTOR® Political Action Committee (RPAC) investors

24

Legal Hotline

28

State Association Updates

29

NAR Director’s Report

30

Sentrilock updates

32

Bright MLS

34

Economic Outlook

36

Welcome, new REALTOR® members!

38

Welcome, new affiliate members!

As we tackle this year’s unprecedented spring market head-on while continuing to face the challenges the past year has brought our way, I want to remind you that GCAAR is here to support you by delivering the education, advocacy, resources and services you need to build your career, enhance your network and excel in the industry.

President-Elect Harrison Beacher

President Jan Brito

Education, in particular, is something I’m very passionate about, and as your GCAAR president I want to empower you to pursue your own professionalism. Given the current national focus on diversity, inclusion and equity, GCAAR is committed to doing our part to advance educational opportunities in these areas as they relate to our field. We see the importance of promoting and practicing inclusion and equity throughout our association—from members, to leadership, to staff—and within the real estate industry and beyond.

Treasurer Samantha Damato

Secretary Avi Adler

Immediate Past President Danai Mattison Sky

In this issue, we’re sharing details about some of GCAAR’s efforts, as well as those of the National Association of REALTORS®, to invest in diversity, inclusion and equity. This includes highlighting our new community partnership to educate underserved individuals and families on how to get on the path to homeownership. It also includes details about NAR’s Fairhaven training platform, which helps REALTORS® identify and prevent discriminatory practices. In this issue, we’re proudly recognizing our members who have completed this valuable training so far.

Chief Executive Officer Edward Krauze

Directors

CAPITAL AREA

M. Jacqueline Bennett Russell Brazil Marilyn Emery Carlos Evans Marcus Jaffe James T. Kim

Craig Rosenfeld Daniel Schuler Sandra Stewart Dick Stoner Christopher Suranna Kirsten Williams

I’m also excited to share more details about our virtual REALTOR® Fest event. The foundation of REALTOR® Fest is education and professional development. And the more we educate ourselves, the more effective we’ll be at ensuring we offer inclusive, equitable services to all.

I do hope you’ll attend.

R E A LTOR

Managing Editor Rachel Cromidas

®

Advertising Representative Arlene Braithwaite

Design & Layout Sharon Thorpe 4 CAPITAL AREA REALTOR ® — May/June 2021

Jan Brito

R E ALTOR

CAPITAL AREA

®

Capital Area REALTOR® Volume 8, Issue 3, May/June2021 (USPS 017-467) is published five times a year by the Greater Capital Area Association of REALTORS® (GCAAR), 15201 Diamondback Drive, Suite 100, Rockville, MD 20850-3779. Corrections can be sent to communications@gcaar.com.

Periodicals postage paid at Gaithersburg, MD and additional mailing offices.

Member subscriptions account for $10 of each member’s annual dues. Annual subscriptions are available to non-members for $25.

Subscription inquiries may be sent to Capital Area REALTOR® at the above address.

POSTMASTER: Send address changes to Capital Area REALTOR®, ATTN: GCAAR, 15201 Diamondback Drive, Suite 100, Rockville, MD 20850-3779.

The Greater Capital Area Association of REALTORS® makes no warranties and assumes no responsibility for the accuracy of the information contained herein. The opinions expressed herein do not necessarily reflect the opinion of the officers, directors, or staff of the Greater Capital Area Association of REALTORS®.

The Greater Capital Area Association of REALTORS® accepts submissions of articles and photographs and the items become the property of the Greater Capital Area Association of REALTORS®.

The publisher reserves the right of full editorial authority and to decline publication of any article not deemed proper. Reprint with permission only. Reprints may be obtained by contacting the Greater Capital Area Association of REALTORS® at 301-590-2000, or send an email to communications@gcaar.com.

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REALTOR® is a registered collective membership mark that identifies and may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its Code of Ethics.

Copyright© 2021 by the Greater Capital Area Association of REALTORS®.

All rights reserved.

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Introducing your GCAAR team We want our readers to get to know the GCAAR team members who are helping our GCAAR community every day. Each issue coming up, we'll feature staffers that we want you to meet.

KT Maclure Director, Member & Billing Services KT Maclure started her career with the Montgomery County Association of REALTORS® in December 1996 as a part-time receptionist—but that part-time role lasted only one day before they asked her to come on board, full time. Within a month, Maclure moved to the accounting department and has since held several positions with the association, which eventually merged with the Washington, D.C. Association of REALTORS® to become GCAAR. Those positions included overseeing databases, membership and accounting. Maclure was GCAAR’s senior accountant for a decade before becoming the current director of member and billing services.

What do you like about working at GCAAR? “Our members. I have much appreciation and admiration for them, both our REALTORS® and affiliates. I truly enjoy working with and advocating for our members. Internally, I enjoy the teamwork approach that GCAAR promotes.”

What’s a fun fact about you?

“Music has a huge impact on my life, and one of my highlights in my life was having a regularly scheduled college radio show and also a talk show about the influence of different musical genres.”

Shiesha McNeil Education Associate

Shiesha McNeil is a native Washingtonian. She came to GCAAR in 2021 as an education associate after spending three years as a graduate student in the clinical/community psychology Ph.D. program at The University of Illinois at Urbana-Champaign. In graduate school, she studied mechanisms that predict the psychopathological outcomes in youth who have been exposed to trauma. She tells us: “My first love is research!”

Prior to that, she studied psychology and management & society at The University of North Carolina at Chapel Hill.

What do you like about working at GCAAR? “I love the variety of people that I am exposed to, both in the office and in our membership.

They are all very kind. The best part of my day is when someone says, ‘thank you, you were helpful!’”

What’s a fun fact about you?

“In my free time I enjoy writing poetry, cooking, drawing and painting. I also used to compete in poetry slams in undergrad, as part of a poetry team.”

More GCAAR employee profiles are coming in future issues of Capital Area REALTOR®!

6 CAPITAL AREA REALTOR ® — May/June 2021

Don't miss these upcoming Profession Sessions Contract Deep Dive: June 3, 1-2 p.m.

Take a deep-dive into the GCAAR Sales Contract to learn critical information about its finer points—not only the price, address and settlement date—and find out how to set expectations and minimize challenges throughout the entire sales process.

Forms Release: June 30, 10-11 a.m.

Join us to walk through each of the forms GCAAR will just have updated and get all your questions answered.

How to Leverage LinkedIn for Real Estate: Aug. 2, 1-2 p.m.

Most professionals are on LinkedIn—but do you know how to use it for your business? Join online presence expert and speaker Italina Kirknis to learn how to do more than simply accept connections and endorsements and to leverage LinkedIn as a marketing tool to promote your brand.

Register at gcaar.com/events.

News from the GCAAR Cares Emergency Relief Program At GCAAR, we’re committed to providing the resources that you, as part of our REALTOR® family, need to succeed. And in these difficult times, the GCAAR Cares Emergency Relief Program helps us deliver on that purpose. Since its launch last summer, the program continues to make a profound difference in the lives of GCAAR members who have been directly and adversely affected by COVID-19.

Now, in light of the extreme hardship the pandemic continues to pose for some individuals and families, GCAAR members who still meet the criteria may apply for a second round of funding six months after receipt of the first round.

One GCAAR member recently told us about the positive impact the program has had for him personally, once he realized he met the qualifications for it:

"GCAAR Cares helped me and my family when we were in the most difficult situation mentally, emotionally and financially. The pandemic affected my closest family member, my father. It was hard to see my mother suffering through the entire experience, too.

“GCAAR Cares helped us get going and gave my mother a gift of relief.

Knowing that someone is there helped us realize we are facing this pandemic together. Thanks to GCAAR Cares!”

If you need help, please don’t hesitate to apply.

Visit gcaar.com/emergencyrelief for eligibility criteria and details.

CAPITAL AREA REALTOR ® — May/June 2021 7

REALTOR® Fest 2021 is coming your way!

Join us July 12-17 for our largest event, which is virtual again this year! Take a look at our ad on the opposite page for the full schedule. Questions? Review the list below–and visit our website, REALTORFest.com, for more answers to your REALTOR® Fest questions. Sign up today!

How do I register for REALTOR® Fest?

• Register at REALTORFest.com.

How much is REALTOR® Fest?

• Members can register for the early-bird price of $30 until June 13. Beginning on June 14, members can register for $50 and non-members can register for $95.

What is included in my registration?

• Everything! You can register for as many continuing education classes that work within your schedule, sponsor sessions, lunchtime sessions and a happy hour with giveaways!

When will I receive the Zoom links to get into my classes?

• All Zoom links will be included in your receipt. If you are unable to locate your receipt, you can log in to your GCAAR account at gcaar.com and under “My Registered Events and Classes,” you will see each class you are registered for. Click on “View Details” to locate the Zoom link.

When will my credits be reported to the state real estate jurisdictions?

• Please give us up to 14 days following your class to get the credits reported. You may verify your credits by logging on to the website for each state where you hold a license:

Maryland: dllr.state.md.us/license/mrec, or call 888-218-5925, or email mrec@dllr.state.md.us.

District of Columbia: dcopla.com, or call 866-270-9817, or email licensing@dcopla.com.

Virginia: dpor.virginia.gov or call 804-367-8500, or email REBoard@dpor.virginia.gov.

Join GCAAR for Advocacy Hour On May 27 During our next Advocacy Hour, Maryland REALTORS® Government Affairs Director Bill Castelli will share a recap of the 2021 General Assembly session and review all of the legislation that passed or failed that could affect GCAAR members and the real estate industry. Listen in and learn more on May 27 at 1 p.m., and register at gcaar.com/events.

Save the date for this upcoming Broker/Manager Forum REALTOR® Member Benefit: RPR®– Are you using this vital tool? May 20 (1-2 p.m.)

Learn how to use your member benefit, REALTOR® Property Resource (RPR®), to help and promote your brokerage, you and your agents.

This presentation will provide an overview on topics such as: • How RPR® helps your agents—from research, reports, CMA, creating mailing labels, a mobile app and more.

• Broker tools and resources—such as branding, custom pages, affiliated service modules, broker AVM and more.

Be sure to stick around after the presentation for a Q&A. Register at gcaar.com/events.

8 CAPITAL AREA REALTOR ® — May/June 2021

REALTOR Fest 2021 ®

It’s on, and it’s virtual!

July 12-17 Monday-Saturday

Monday, July 12 9 a.m. - noon 9 a.m. - noon 9 a.m. - noon

MD Legislative Update DC Fair Housing NVAR Contract

12:15 - 1 p.m. Lunchtime presentation, The world has changed: What we’ve learned as REALTORS® and where we go from here 1:30 - 4:30 p.m.

1:30 - 4:30 p.m.

1:30 - 4:30 p.m.

Dinner break 5:30 - 7:30 p.m.

5:30 - 8:30 p.m.

MD Code of Ethics VA Ethics DC Legislative Update Credit Reporting & Scoring MREC Brokerage Relationships

Contracts, Settlements & Disclosures Mortgage Basics Dealing with Death MD Fair Housing How to do 1031 Like-Kind Exchanges Financing Issues Update Working with Hoarders Renting to Persons with Various Needs DC Legislative Update

Wednesday, July 14 9 a.m. - noon 9 a.m. - noon 9 a.m. - noon

MD Code of Ethics GCAAR Contract Review DC Ethics Update

12:15 - 1 p.m. Lunchtime presentation, You’re Using Social Media All Wrong! with Dustin Brohm, prominent speaker and real estate marketing expert 1:30 - 3:30 p.m.

1:30 - 3:30 p.m.

1:30 - 4:30 p.m.

Dinner break 5:30 - 8:30 p.m.

5:30 - 8:30 p.m.

9 - 10:30 a.m.

9 - 10:30 a.m.

9 a.m. - noon 11 a.m. - 12:30 p.m.

11 a.m. - 12:30 p.m.

1:30 - 2:30 p.m.

1:30 - 4:30 p.m.

1:30 - 4:30 p.m.

3 - 4 p.m.

MD Fair Housing Avoiding Settlement Pitfalls Advanced Real Estate Finance Basics of Real Estate Bankruptcy Introduction to Septic Systems VA Legal Update MD Legislative Update DC Ethics Update VA Mandatory Contract Review

Virtual Happy Hour 5 - 6 p.m.

Tuesday, July 13 9 a.m. - noon 9 a.m. - noon 9 a.m. - noon 1:30 - 3 p.m.

1:30 - 4:30 p.m.

1:30 - 4:30 p.m.

3:30 - 5 p.m.

Dinner break 5:30 - 8:30 p.m.

5:30 - 8:30 p.m.

Thursday, July 15

Negotiating Multiple Offers VA Fair Housing MREC Required Supervision

Friday, July 16 9 a.m. - noon MREC Brokerage Relationships 9 a.m. - noon DC Legislative Update 9 a.m. - noon Foreclosure 12:15 - 1 p.m. Lunchtime presentation, What can we do for you? Getting the most out of your REALTOR® association benefits 1:30 - 2:30 p.m.

VA Agency 1:30 - 4:30 p.m.

MREC Brokerage Relationships 1:30 - 4:30 p.m.

DC Fair Housing

zz

Saturday, July 17 9 a.m. - noon 9 a.m. - noon 1:30 - 3 p.m.

1:30 - 4:30 p.m.

MD Code of Ethics DC Ethics Update MD Fair Housing DC Fair Housing

This schedule is subject to change.

MD Legislative Update Advanced FHA Financing

Additional professional development sessions will be announced soon!

Register by June 13 for our special, $30 GCAAR member price!

Starting June 14, the member price goes up to $50 and registration opens to non-members at $95.

REALTOR Fest 2021 ®

Greater Capital Area Association of REALTORS®

REALTORFest.com

Diversity, inclusion & equity at GCAAR

Discrimination has no home here.

The National Association of REALTORS®, representing more than 1.4 million REALTORS® in diverse communities across the country, fully embraces perspectives from all walks of life. NAR commits to bringing out the best in themselves, uncovering hidden talents and celebrating differences in day-to-day interactions. These beliefs are essential in serving NAR members, who help fulfill the dream of home and property ownership in America.

As your REALTOR® association, we are doing our part to identify opportunities for diversity and inclusion conversation and education and to promote the practice of inclusion and equity among our leadership, members, staff and within the industry.

The following are a few examples of GCAAR's work in this area.

16 CAPITAL AREA REALTOR ® — May/June January/February 10 2021 2021

Partnership to help underprivileged families achieve the American dream GCAAR is invested in helping all individuals and families in our community achieve the dream of homeownership. To demonstrate our commitment, in April 2021 GCAAR and the nonprofit organization Capital Area Asset Builders (CAAB) launched a strategic partnership to offer a series of educational opportunities to help underprivileged individuals and families get on the path toward homeownership.

The three-year partnership features a series of real-time, online workshops in both the District and in Montgomery County. Each workshop offers one hour-long class daily during a five-day period on relevant topics, taught in part by instructors who are GCAAR REALTOR® and affiliate members.

Through the partnership, CAAB’s financial tools and resources will also be more broadly distributed to potential first-time homebuyers who may not otherwise receive them.

Events and education programming The History & Power of Real Estate webinar series: Soon after the tragedies and antidiscrimination protests that gained a national spotlight in 2020, GCAAR took action to continue the conversation about racism and discrimination—particularly as they relate to real estate. We launched the History & Power of Real Estate webinar series to generate a healthy discussion around the history of our nation’s legislative barriers to homeownership based on race—and how those barriers still affect today’s society, both nationally and in our local communities. To date, we’ve held six webinars in the series attracting more than 800 registrants, including neighborhood history sessions and presentations by Richard Rothstein, renowned author of “The Color of Law” and Bill Dedman, one of Newsday’s investigative reporters who broke the Long Island Steering story.

continued on page 12 ➨

CAPITAL AREA REALTOR ® — May/June 2021 11

Profession Sessions: Our Profession Sessions, offered exclusively to GCAAR members, bring important topics to the forefront for discussion in a virtual format—at no cost to our membership. A recent session brought in a representative from the Equal Rights Center to highlight developments in fair housing at the local and federal levels related to new protected identities in the region, along with new guidance from HUD about how it views discrimination on the basis of sexual orientation and gender identity.

At Home with Diversity® courses: GCAAR regularly offers NAR’s At Home with Diversity® (AHWD) certification course at a deeply subsidized rate because we’re so passionate about encouraging our members to take the course. AHWD covers how to work effectively with diverse populations by developing business practices rooted in inclusion and equality to help buyers of all cultural backgrounds achieve the dream of homeownership. More than 300 members have participated in the course thus far.

Other NAR program promotions: In addition to offering AHWD, GCAAR regularly encourages members to become actively involved in NAR’s own diversity and inclusion initiatives. We actively promote the fall 2020 changes in the Code of Ethics prohibiting discriminatory speech and conduct; Fairhaven, NAR’s innovative training platform that helps REALTORS® identify, prevent and address discriminatory practices in real estate; implicit bias training and other important programs.

Diversity & Inclusion Committee Established in 2021, the mission of the Diversity & Inclusion Committee aligns completely with our goals at GCAAR to identify opportunities for conversation and education, establish expectations of diversity and promote the practice of inclusion within our membership base and industry. The committee focuses its efforts on both personal growth and business development.

Advocacy for fair housing initiatives We are staunch advocates for fair housing-related legislation in both Montgomery County and the District of Columbia. We advocate for transparency and education on Montgomery County and the District of Columbia’s laws and rules as they relate to fair housing, so our members are continuously educated on them, and we seek to close any gaps in fair housing laws with sound legislative measures.

Helpful links • Strategic partnership, GCAAR and Capital Area Asset Builders: gcaar.com/media • Diversity & Inclusion Committee: gcaar.com/committees • History & Power of Real Estate webinar series: gcaar.com/hpre • NAR’s diversity and inclusion programs: nar.realtor/diversity

12 CAPITAL AREA REALTOR ® — May/June 2021

From the gcaar classroom Last-minute schedule change? Here’s how to cancel a class online Members who have registered for a continuing education class through the GCAAR website can cancel your registration as long as you meet the requirements of GCAAR’s cancellation policy, which you can find at gcaar.com/cancellation. Follow these steps: 1. Go to the GCAAR website at gcaar.com 2. Click on My Account at the top of the website 3. Enter your Login ID (member number) and password 4. Click on Education and Events, and then My Education History 5. Select “Classes You Are Registered For” 6. Find the class that you would like to cancel, then click the “Registration Cancellation” button.

Recognizing members who have taken NAR's Fairhaven training The following GCAAR members have taken the National Association of REALTORS® Fairhaven: A Fair Housing Simulation training. The course uses storytelling to help REALTORS® understand and prevent discriminatory practices in real estate.

Koki Adasi

Thomas Brockett

Christopher Jeffries

Carl Pearrell

Leigh Andreasen

Thomas Daley

Colin Johnson

Petra Quinn

Stacey Barton

Aylin Gokce

Kimberly Jones

Matthew Rathbun

Frederic Bates

Nancy Gordon

Gregg Kantak

Bonnie Roberts-Burke

Deborah Baxter

Karen Hall

H. Fred Kendrick

Craig Rosenfeld

Harrison Beacher

Tiffany Harris

Kaye Leonard

Catherine Santiago

Jan Brito

Harold Huggins

Barbara Maloney

Daniel Schuler

Sharon Martlock

Kyle Simmons

Dale Mattison

Brenda Small

Maurice McKinney

Debra Stein

Samuel Medvene

Christopher Suranna

Thai-Hung Nguyen

Sarah Toppins

Janice Norcutt

Vincent Walsh

Gerard Occhiuzzo

Bryan Waters

Jessica Olevsky

CAPITAL AREA REALTOR ® — May/June 2021 13

From the gcaar classroom Learn more from the At Home With Diversity® certification GCAAR regularly offers NAR’s At Home with Diversity® (AHWD) certification course at a deeply subsidized rate because we’re passionate about encouraging our members to earn this important certification. AHWD covers how to work effectively with diverse populations by developing business practices rooted in inclusion and equality to help buyers of all cultural backgrounds achieve the dream of homeownership. More than 200 GCAAR members have participated in the course thus far.

Here is a testimonial from a recent participant:

“The program was rich in content and provided a great foundation of knowledge… [it] created a safe space for participants to be vulnerable and ask questions and also provided a thought-provoking curriculum that challenged us to implement actionable steps to address discrimination, structural racism and bias in our own work.”

—Monique Van Blaricom, RLAH Real Estate

The following is a list of members who have completed one of GCAAR’s At Home With Diversity® course offerings. Learn more about this certification at nar.realtor/education/designations-and-certifications/ahwd.

Gabriele Adams

Michael Blackman

James Cieplenski

Caroline Doong

Michael Adams

Terinee Bonds

Rachel Clark

James Douglass

Susan Ader

Andre Bouchard

Ellen Coleman

Thomas Doyle

Avram Adler

Joachim Braeu

Suzanne Collins

Karen Eaton

Tro Allen

Lamar Braithwaite

Lori Connor

Marilyn Emery

Stephanie Anderson-Smoot

Connie Brown

Christan Constantine

Latoya Finney

Edward Brown

Bruce Cotting

Angela Fountain

Matthew Brown

Kadjologo Coulibaly

Melanie Friedson

R. Joseph Brown

Daniel Cumberland

Maria Garcia

Elizabeth Buffington

Samantha Damato

Christopher German

Joseph Buffington

Cynthia Davis

Donna Gibson

Alma Burghardt

Renee Davis

David Goldberg

David Burke

Roy Davis

Prokash Gomes

Mark Butterfield

Jasmine Dawson-Cooper

Heath Graves

Leigh Andreasen Karen Andreozzi Cuvator Armstrong Joie Ashworth Emily Attwood Ledys Banegas Cortina Barnes Stacey Barton Winsome Bascoe Harrison Beacher Kurt Becker Anne Bennett Stacy Berman Thomas Biggs 14 CAPITAL AREA REALTOR ® — May/June 2021

Carol Calomiris Claudia Carcamo Charles Carp Jon Chamberlain Charles Chapman Jennifer Chow Fabio Chung

Rowena De Leon Kay DeFranceaux Leonard Tina Del Casale Felicia Denman Joe Detrick Jean-Paul Dongmo

Nishika Green Andrew Greenspan Jacqueline Grenning Susan Griffith Mary Grinnell Jeanne Harrison Justin Hay

Lori Hecox

Kerri Murphy

Dana Hill

Luis Navarro

Barbara Hinton

Nicole Neale

Carol Hyndman

Phi Nguyen

Olufemi Ifaturoti

Dollie Nicholson

Ava Jamison

Hycienth Obiakor

Maarika Jarvsoo

Patricia Okolo

Christopher Jeffries

Jessica Olevsky

Ileann JimenezSepulveda

Andre Oliphant

Ann Joliet Bruce Jones Jerri Jones Kimberly Jones Sendi Joya Amaya Sri Kadarmanto-Olson Kameron Kang Robert Kerxton Lynda Knapp Maria Kolick Paulette Ladas Joan Leach Eryca Lewis Sam Lin Belkys Liriano Carole Maclure Latania Maise Peg Mancuso Shirley Maser Rosenda McCook William McCord David Mecklenburg Andrea Medinaceli Samuel Medvene Yolanda Menjivar-Vasquez Christine Minutoli Magda Morales Lauren Moskowitz Astrid Motz-Hammond

Tracy Onslow Penine Orao J Mario Padilla Diesa Paris

Craig Rosenfeld

Joe Stanton

Candace Parrott

Marjorie Rosner

Marty Stanton

Constantina Paxenos

Dale Ross

Richard Stoner

Janet Peak

Ron Shahram Roudi

Glen Sutcliffe

Robert Pettis

Alfonso Rushing

Mandana Tavakoli

Jean Poitevien

Brandy Saballos

Cira Tellechea-Augerson

Pamela Potolicchio

Lavina Samtani

Cynthia Thomas

Nita Purohit

Juana Sanchez

Tiffanyanne Tomlinson

Daniel Quinn

Susan Sanford

Steven Traversa

Hugo Quintanilla

Daniel Schuler

Monique Van Blaricom

Natasha Rabchevsky

Patricia Scipio

Monda Webb

Rebecca Ramos

Gene Sementilli

Andrew Werner

Joyce Rausnitz

William Shaver

Nancy Wert

Samir Redwan

Jason Sherman

Kevin Wheeler

Cammie Reed

Nicole Shirley

Francie Whitlock

Chantel Reid

Melanie Sholl

Joyce Whitman

Scott Reiter

Jessica Sidar

Elois Wiggins

Vicki Reyes

Ashish Sinha

Shirley Wigglesworth

Ned Rich

Merry Sloane

Risha Williams

Mary Ann Richardson

Brenda Small

Chanin Wisler

Nancy Ricks

Craig Smith Eric Smith

Eric Wood

Susie Ridgley Bonnie Roberts-Burke Sharrod Robertson Shawanda Robinson Laura Rodriguez Deanne Rogers

Paul Smith Karla Smith Sharon Smith James Frank Snodgrass

Antoine Woods Elena Woods Michele Young Jolie Yun-McGann

Esteban Soto CAPITAL AREA REALTOR ® — May/June 2021 15

GCAAR is proud to present…

OUR 2021 NAR 30 UNDER 30 HONOREES Each year, the National Association of REALTORS® highlights 30 young REALTORS® for their exemplary achievements in the profession, and we are excited to announce that two GCAAR members have been selected as 2021 honorees. We spoke to REALTORS® Molly Branson and Daniel Walcott about their burgeoning careers and what advice they have for young, local real estate agents looking to enter and advance in the field.

Molly Branson Molly Branson, 28, has been working as a REALTOR® since 2015. A lifelong resident of the DMV, Branson now works with RLAH Real Estate.

Early on in her career, she knew the value of having mentors, and that looking to more seasoned REALTORS® for guidance was key to building a successful business. She says her career really took off in late 2016, after her mentor invited her to start a team with him at a boutique brokerage.

There, she says, she learned about the development side of the industry.

“It was a lot of fun walking construction sites, analyzing floor plans, picking finishes and seeing the finished project,” she says.

“In my experience, don't go at this alone.

Learn from other people, and don't be afraid to ask to shadow, ask to follow them.”

Now, half of her business comes from developers, while the other half is made up of first-time homebuyers—meaning she sees a balance of the people who are creating the housing inventory, and those who are buying inventory for the first time.

“I think having the relationship with both really benefits both,” she explains. “When I’m touring properties with my buyers I’m constantly asking them what works, what do they like, what don't they like. From asking and gathering info, I’m better able to advise my developers on what people are actually looking for. Then we can adjust floor plans and adjust finishes before a property hits the market and have a wider range of buyers who are interested.”

Branson’s biggest piece of advice to young REALTORS® is to balance the independent, entrepreneurial mindset that attracts people to the industry with the need to find mentorship and support from teams. “In my experience, don’t go at this alone,” she says. “Learn from other people, and don’t be afraid to ask to shadow, ask to follow them. Use your resources, not just online, but in physical interactions with good agents.”

In addition to seeking support from her colleagues, Branson says she has expanded her network with the help of GCAAR’s Young Professionals Network.

“This job can be really tiring. It is seven days a week, 365 days a year, and if you don't have a strong support system you will get burnt out,” she says.

16

CAPITAL AREA REALTOR ® — May/June 2021

Daniel Walcott Daniel Walcott, 29, is a REALTOR® with Keller Williams Capital Properties. He has lived in the District of Columbia area since 2009, when he moved here to attend Howard University.

Post-college, Walcott was working in sales and marketing when he met a REALTOR® who piqued his interest in real estate investments. “I was always interested in it from an investing standpoint, but didn’t know where to start,” he says. Walcott got his license, and soon after he jumped into real estate full time, in 2016. Now, Walcott is focused on helping first-time investors and first-time homebuyers achieve their dreams through real estate.

He advises young agents to be patient in their early years, because the learning curve can initially be steep before the job becomes truly rewarding.

“Running a real estate business wasn’t what I expected,” he says. “My first year, I only sold one house.” It took finding mentorship from a more experienced colleague to help Walcott gain the momentum he needed.

“He took me under his wing and just showed me what I need to be doing on a daily basis, which is reaching out to my sphere and connecting with as many people as possible and focusing on making connections,” Walcott says. “Initially, I was caught up in the things that I thought a REALTOR® should be doing, which was the website and the marketing materials. But I didn’t have any leads, I didn't have any clients, I didn’t really have a business.”

“I was always interested in it from an investing standpoint, but didn't know where to start.”

Getting a mentor who helped him focus on building the connections his business needed proved to be a big turning point for Walcott. Besides connecting more to his social network, Walcott says staying active on social media has been key to building his business— particularly through Instagram, which Walcott uses to share information with potential buyers and sellers on property tours and to educate them on property sales.

GCAAR’s past 30 Under 30 winners 2003 - Brandon Green and Jim Roy

2013 - Danai Mattison and Barak Sky

2005 - Anthony Bozzi

2014 - Constance “CJ” Davis and Ron Mangas Jr.

2006 - Bo Menkiti

2016 - Brittany Allison, Harrison Beacher

2007 - Anslie Stokes 2008 - Koki Adasi 2009 - Rachel Valentino 2010 - Cara Pearlman

and Jessica Evans

2018 - Sammy Dweck and Gigi Luu 2019 - Timothy Savoy 2020 - Sam Medvene and Mary “Christine” Nieva

2011 - Kira Epstein and Pamela Wye

CAPITAL AREA REALTOR ® — May/June 2021 17

Your clients will be ready when their dream home is

With a SureStart® Pre-approval1, your clients can benefit from: • Confidence throughout their home search • A competitive advantage over other homebuyers without a pre-approval • The ability to act quickly with a complimentary pre-approval letter

Ask us how your clients can get ahead in the home buying process.

Joe Giampetroni Lending Manager 301-509-6905 joe.giampetroni@citi.com citi.com/joegiampetroni NMLS# 415239

Sunny Duan Home Lending Officer 443-374-7356 sunny.duan@citi.com citi.com/sunnyduan NMLS# 1272375

Terms, conditions and fees for accounts, programs, products and services are subject to change. This is not a commitment to lend. All loans are subject to credit and property approval. Certain restrictions may apply on all programs. This offer contains information about U.S. domestic financial services provided by Citibank, N.A. and is intended for use domestically in the U.S. 1 Final commitment is subject to verification of information, receipt of a satisfactory sales contract on the home you wish to purchase, appraisal and title report, and meeting our customary closing conditions.

There is no charge to receive a SureStart® Pre-approval. However, standard application and commitment fees will apply for the mortgage loan application. ©2021 Citibank, N.A. NMLS# 412915. Member FDIC and Equal Housing Lender. Citi, Citi and Arc Design and other marks used herein are service marks of Citigroup Inc. or its affiliates, used and registered theREALTOR world. ® — May/June 2021 18 throughout CAPITAL AREA

Member services corner Learn more about our REALTOR associations' Emeritus status programs Emeritus status is offered by REALTOR® associations to recognize an individual's contributions and longevity to the REALTOR® community and industry.

Each REALTOR® association level (local, state and national) has its own Emeritus status program with its own criteria for eligibility. If you are approved for Emeritus status through one association, it does not necessarily mean that you are granted Emeritus status through other associations.

LOCAL: GCAAR Primary REALTOR® Emeritus Status Program GCAAR recognizes the contributions of our longest-serving members and has established the following criteria, effective for the 2022 billing cycle: • Any member who has held a membership with the National Association of REALTORS® for 40 or more years and has held a primary REALTOR® membership of GCAAR* for at least 21 years, with at least the last 5 consecutive years with GCAAR. In addition, must have proof of at least one year of service on a committee with GCAAR (this includes the Montgomery County Board of REALTORS®, Montgomery County Association of REALTORS® and/or the Washington D.C. Association of REALTORS®.)

• Or, any member who has held a membership with the National Association of REALTORS® for 50 or more years and has held a primary REALTOR® membership with GCAAR for at least 26 years, with at least the last five consecutive years with GCAAR. No service at the local REALTOR® association is needed.

Applications are due to GCAAR by July 31 preceding the fall billing cycle. If approved, local GCAAR dues will be waived for primary REALTOR® membership through GCAAR.

LOCAL: GCAAR Affiliate Emeritus Status Program In this new program that is exclusive to GCAAR, we recognize the outstanding contributions of our affiliate members and have established the following criteria, effective for the 2022 billing cycle: • Any affiliate member who has held an affiliate membership with GCAAR for 40 or more years and has proof of at least one year of service on a committee with GCAAR (this includes the Montgomery County Board of REALTORS®, Montgomery County Association of REALTORS® and/or the Washington D.C. Association of REALTORS®.)

Applications are due to GCAAR by July 31 preceding the fall billing cycle. If approved, local GCAAR dues will be waived for affiliate membership through GCAAR.

STATE: DCAR Primary REALTOR® Emeritus Status Program The District of Columbia Association of REALTORS® offers emeritus status as well and has outlined its criteria, effective for the 2022 billing cycle, which you can find at gcaar.com/emeritus. Applications are due to DCAR by July 31 preceding the fall billing cycle. If approved, primary state DCAR dues will be waived as long as one maintains their primary state REALTOR® membership through DCAR.

STATE: Maryland REALTORS® Emeritus Status Program Maryland REALTORS® recognizes REALTORS® who have held membership with Maryland REALTORS® for a cumulative period of 50 years for REALTORS® Emeritus status. For additional details, visit gcaar.com/emeritus, or see the Maryland REALTORS® Emeritus Application at mdrealtor.org/ Association/Get-Involved/Industry-Awards for more information and deadlines. Upon approval, no further payment of dues to Maryland REALTORS® is necessary. continued on page 20 ➨ CAPITAL AREA REALTOR ® — May/June 2021 19

2021 GCAAR Recognition Member services cornerAwards NATIONAL: National Association of REALTORS® Emeritus Status Program The National Association of REALTORS® has its own criteria for its Emeritus Status program.

Visit gcaar.com/emeritus for the full list of criteria and additional details, and contact memberservices@gcaar.com by March 1 or Sept. 1 in order to apply. GCAAR staff will work with you to complete your application and submit it on your behalf. Upon approval, no further payment of dues to the National Association is necessary.

Show your support for our affiliate members on #GCAARAffiliateFridays We love our affiliate members! They’re the individuals and companies who provide services to support real estate transactions, and we’re highlighting them weekly on our social media channels. Be sure to like or comment on our #GCAARAfilliateFriday social media posts to show your support!

Affiliates: If you haven’t yet submitted your contact form, send it in so we can highlight you. This link will take you to the contact form: bit.ly/3eonlaM.

What to do if you or a client has an ethics complaint Individuals who believe that a REALTOR® has violated one or more Articles of the Code of Ethics can file an ethics complaint alleging a violation(s) through the local association of REALTORS® where the REALTOR® holds membership, or participates in a REALTOR® association-owned/operated MLS. If you believe that a REALTOR®-member of the Greater Capital Area Association of REALTORS® (GCAAR) acted unethically in a real estate transaction, you may address the issue through GCAAR.

What is the GCAAR Ombuds Program?

An ombudsman is an individual appointed to receive and resolve disputes through constructive communication and advocating for consensus and understanding. The ombuds process is the first step to resolving ethics complaints and requests for arbitration. This is a free service offered by GCAAR and is often a faster path to resolution than the formal complaint process.

Participation in the ombuds process is optional; if the issue is not resolved through an ombudsman you can still file an ethics complaint if you meet the time limitation requirements.

More information on the ombudsman process can be found on GCAAR’s website at gcaar.com/professional-standards.

2 tips for stronger REALTOR® relationships Check out these tips from your fellow REALTORS® on ways you can build better relationships with your colleagues.

Share important information with your REALTOR® colleagues about properties you've listed that may be helpful during showings. Are there pets present? Does the property have a security system? Will the sellers be there during the showing?

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CAPITAL AREA REALTOR ® — May/June 2021

Go the extra mile! Take the time to notify the listing agent if there appears to be inaccurate information on their listing.

See upcoming issues of Capital Area REALTOR® magazine and follow GCAAR on Facebook, Instagram, LinkedIn and Twitter for more tips!

Serve Those Who Serve Our Country

Earn NAR’s Military Relocation Professional (MRP) Certification Sharpen your knowledge and skills for working with military homebuyers and sellers with NAR’s Military Relocation Professional (MRP) certification.

REALTORS® with the MRP certification provide real estate support for active and former servicepeople, and ensure that they take advantage of military benefits.

To learn more about the requirements, visit MilitaryRelocationPro.org.

CAPITAL AREA REALTOR ® — May/June 2021 21

Realtor Party ®

Thank you to our 2021 Major and Large REALTOR® Political Action Committee (RPAC) investors Sterling “R“ ($1,000)

Golden “R“ ($5,000)

Ed Krauze Carole Maclure Frank Pietranton Bonnie Roberts-Burke Christopher Suranna Crystal “R“ ($2,500)

Koki Adasi Fred Kendrick Scott Reiter Holly Worthington

Avi Adler Fred Bates Harrison Beacher Lisa Bosse Russell Brazil Jan Brito Catherine Czuba Tom Daley Katherine Gordon Colin Johnson Kameron Kang Tony Mancuso Dale Mattison Sam Medvene Kymber Lovett-Menkiti Obiora Menkiti Michael Moran Jean Poitevien

Philip Raskin Marj Rosner Bradley Rothstein Rob Rothstein Dianah Shaw Danai Sky Brenda Small Frank Snodgrass Marty Stanton Kirsten Williams Capital Club ($250-$999)

Wendy Banner Christine Barnhart Stacey Barton Conrad Bennett Jacqueline Bennett Mary Bowen Molly Branson Carolyn Burns Lori Connor Samantha Damato

Christopher Darby Lauren Davis Suzanne Des Marais Joe Detrick Anthony DeVol Michael Fowler Jennifer Frewer Jeffrey Ganz Scott Goldberg Marcus Jaffe Robert Jenets Peter Locker Hank May Barbara Nalls Gerard Occhizzo Betty Pair Arelis Perez Constance Rader Brian Smith J.D. Teitelman Malik Tuma Seth Turner

RPAC INVESTOR TESTIMONIAL: “I’ve invested in RPAC for the past eight years.

Speaking as the current secretary of the D.C. Association of REALTORS®, this is important, because RPAC gives REALTORS® a seat at the table.

I think it's hugely important for people to donate, and at the end of the day, in our current political climate, it's important to develop relationships with lawmakers and outside policy advisors that help us achieve objectives and move forward with protecting our membership.”

— ANTHONY MANCUSO, REALTOR®, TTR SOTHEBY'S INTERNATIONAL REALTY

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CAPITAL AREA REALTOR ® — May/June 2021

Michael J. Bramnick, Esquire

Mike is an experienced litigator regularly handling real estate disputes in Maryland, Virginia, and the District of Columbia between residential buyers, sellers, real estate brokers, and agents, including matters involving:

v Real estate contract disputes and breach of contract claims v Buyer or seller refusing to close on a transaction

v Disputes involving the release of an earnest money deposit v Commission and fee disputes

v Homeowner/contractor disputes v Mechanic’s liens

v General civil litigation v Construction defects

v Claims for fraud and property condition disclosure issues Mike has been repeatedly recognized by Super Lawyer Magazine in the area of civil litigation.

Bramnick Creed, LLC 4520 East West Hwy • Suite 700 Bethesda, MD 20814

BramnickCreed.com Phone: 301.547.3647 • Fax: 301.951.8631 Email: Mike@BramnickCreed.com

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Call Joe at 301.206.2200 or email at Joseph.J@floormaxfloors.com CAPITAL AREA REALTOR ® — May/June 2021 23

Legal Hotline

By Chris Darby, Tom Muldoon and John Nalls of Counselors Title, LLC, and Pardo & Drazin, LLC, General Counsel

QUESTION: I have a listing in Northwest

District of Columbia, where the sellers are the trustees of the deceased owner, who held the property in a living trust. Since trustee sales are exempt from having to complete the Seller Disclosure Statement, the seller/ trustees did not complete one. However, a prospective buyer discovered a structural issue with the home and made us aware (with a written report). The sellers also got a second opinion and have that written report, which confirmed the issue.

Can you confirm that the sellers are still required to disclose this in writing (via report or otherwise) to any prospective buyers?

ANSWER: While the sellers may be

exempt from filling out the property condition disclosure statement, they are still required to disclose ALL known material defects to any prospective buyer (this obligation always exists).

24

CAPITAL AREA REALTOR ® — May/June 2021

QUESTION: If there were five tenants in a

single-family house and they gave notice and left of their own accord this weekend, do they still have tenant rights (through the Tenant Opportunity to Purchase Act - TOPA)?

The original lease was signed prior to March 31, 2018 BUT three new tenants moved in June 1, 2018, and a new lease was signed by all parties around May 21, 2018.

ANSWER: Provided the tenants left of

their own volition prior to the property being listed (and there was no remaining term in the lease), and the seller didn’t otherwise evidence an intent to sell the property while the tenants occupied the property, there should be no continuing right of the tenants to receive TOPA notices/rights. That being said, it is always a good idea to run TOPA questions by your favorite settlement company so that they can get underwriter approval (to verify TOPA compliance).

QUESTION: If I'm representing a buyer

on a contract with a For Sale By Owner listing in Maryland, do the dual/designated agency rules apply with the seller? I don't want liability for an unrepresented owner.

What is the best course of action in this situation to mitigate issues?

ANSWER: Maryland Dual Agency (Dual

and Designated Representation are the terms used under D.C. law) would not be applicable under the situation that you described because the seller is unrepresented. As an unrepresented party, the first thing you must do prior to engaging him or her is to disclose that you represent the buyer using GCAAR Form 1003 (“Understanding Whom Real Estate Agents Represent”). Once this disclosure is made, you may engage the seller, but the only assistance that you can permissibly provide is to perform ministerial acts, which are those that do not require any judgment or discretion on your part.

QUESTION: If a customer or client

gets hurt or injured during a showing or open house, who is liable?

ANSWER: While there are a number

of variables that could affect the issue of liability, unless a person at the property acted negligently or intentionally to cause the injury, any person who attends an open house is considered to be a “Business Invitee” of the owner and thus any injuries to them should be covered under the homeowner’s insurance of the property owner. The owner/ seller should confirm this with their insurance carrier prior to agreeing to have their agent conduct an open house.

QUESTION: If a first-time Maryland

buyer submits an offer on a Montgomery County property and as part of the offer, the first-time buyer offers to pay 100% of the "seller's" transfer and recordation taxes— including State Transfer taxes—and it is specifically written in to the contract as an express agreement between the buyer and the seller, and that contract is ratified, then does Maryland law prohibit the buyer from paying the state transfer tax portion of the seller's taxes?

ANSWER: Section 13-203(b)(3) of the Tax-Property Article of the Annotated Code of Maryland provides:

“Notwithstanding any other provision of law, for a sale of improved residential real property to a first-time Maryland home buyer who will occupy the property as a principal residence, the rate of the transfer tax is 0.25% of the consideration payable for the instrument of writing and the transfer tax shall be paid entirely by the seller.”

Accordingly, Maryland law does prohibit the buyer from paying the seller’s portion of the State Transfer Tax, if the buyer is a first-time Maryland home buyer. A common “workaround” in the situation where the parties truly wish for the seller to incur no financial impact of the transfer and recordation taxes, and buyer is a first-time Maryland homebuyer, would be to have the buyer agree to provide the seller with a closing cost credit of 0.25%, separate and apart from any agreement as to the Transfer and Recordation Taxes. With such an agreement, the State Transfer tax would still be collected from the seller as required by statute, but the seller would not be financially impacted by this requirement.

DISCLAIMER: The answers provided here are the opinion of the authors, are for informational purposes and are only for GCAAR members. Neither Counselors Title, LLC, nor Pardo & Drazin, LLC, is providing legal advice, but rather providing a general statement of law. No lawyer/client relationship is–or will be–established as a result of this material. Readers are encouraged to retain their own counsel for their specific questions. Answers may have been edited for formatting purposes.

CAPITAL AREA REALTOR ® — May/June 2021

25

WE ARE THE MOST REALTOR -FRIENDLY ®

COMPANY IN THE INDUSTRY

FIND OUT WHY WWW.JOINSAMSON.COM

Maryland REALTORS® Register today for the 2021 CIPS Institute in June In 2020, foreign buyers spent $74 billion on properties in the United States.

Global real estate opportunities are everywhere; that includes people moving to the U.S. from other countries, and native-born Americans looking to purchase rental properties or retire overseas. No matter which markets you are serving, NAR’s Certified International Property Specialist (CIPS) designation will provide you with the knowledge, research, network and tools you need to globalize and expand your business. This spring, please join the Maryland REALTORS® Global Business Committee at the CIPS Institute, sponsored by the Greater Capital Area Association of REALTORS® and the Women’s Council of REALTORS® Maryland. You can register at mdrealtor.info/CIPS. When: June 7, 9, 11, 15 and 17, 2021; 9 a.m. to 5 p.m. (EST).

Where: Virtually via Zoom Instructor: Azizali Kanjee Registration fees: Members: Full session: $225. Individual session: $75/day Non-members: Full session: $325. Individual session: $85/day CIPS certification refresher: Flat fee of $100

District of Columbia Association of REALTORS® Save the dates for these 2021 DCAR Speaker Series webinars The District of Columbia Association of REALTORS®’ 2021 Speaker Series is in full swing! So far this year, they hosted Dean Hunter, CEO of the Small Multifamily Owners Association, who discussed rent control and housing affordability in the district; Andrew Trueblood, director of the D.C. Office of Planning, who covered the District of Columbia Comprehensive Plan; and Clarence Whitescarver, chief building official for D.C.’s Department of Consumer & Regulatory Affairs (DCRA), who provided insights into the all-important inspection process.

Don’t miss out on the inside scoop! Be sure to save the dates for these additional DCAR 2021 Speaker Series events: June 10: Education and schools Sept. 9: The District’s Department of Housing and Community Development (DHCD) Be on the lookout for more details and registration information for these upcoming events at dcrealtors.org.

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CAPITAL AREA REALTOR ® — May/June 2021

standard. Be committed to excellence.

Get started with this award winning program today at C2EX.realtor.

Commit yourself to excellence with NAR’s C2EX

By Samantha Damato

The National Association of REALTORS® offers an endorsement called C2EX, available to take for free through the NAR website at c2ex.realtor. Its purpose is to empower REALTORS® to evaluate, enhance and showcase their highest levels of professionalism. And it’s growing in prevalence: more than 50,000 NAR members have already participated. In fact, it’s so valuable that 2021 GCAAR President Jan Brito has encouraged GCAAR’s entire Board of Directors to complete the C2EX this year.

C2EX takes you through assessments, learning and tasks in order to achieve the endorsement, including 10 competencies and 23 tasks. Competencies range from Real Estate Law to Trust and Integrity. The 23 tasks include activities that encourage community involvement, such as registering to vote and attending a local city council meeting. Tasks also highlight techniques that can enhance your professional reputation, help develop client service skills, gain further understanding of the professional ethics of REALTORS® and develop the knowledge and skills to stay abreast of fair housing issues–including completing the Fairhaven simulation, a program that NAR Director Bonnie Roberts-Burke highlighted in this column in the March/April issue of Capital Area REALTOR® (fairhaven.realtor).

The C2EX highlights the diversity of skills and well-roundedness of a REALTOR®. It’s worth checking out this free endorsement today, both to build on your strengths as a REALTOR®, and to build on our strengths as a REALTOR® community.

Earn your C2EX endorsement today!

Visit c2ex.realtor to get started.

Congratulations to GCAAR’s C2EX-endorsed members!

GCAAR is proud to recognize our members who have earned their C2EX endorsement.

C2EX is a program designed to help REALTORS® showcase their professionalism and gain a competitive edge. Visit C2EX.realtor for more information.

Koki Adasi

Harold Huggins

Bonnie Roberts-Burke

Harrison Beacher

Kevin Hughes

Mario Rubio

Jan Brito

George Johnson

Gene Sementilli

Thomas Brockett

Christopher Junior

Serif Soydan

LaCrisha Butler

Paul Carlos Lancaster

Christopher Suranna

Jonathan Coles

Tammy Locher

Kevin Turner

Shanda Cox

Thai-Hung Nguyen

Bryan Waters

Kasra Divband

Jessica Olevsky

Isabelle Williams-Brown

Vincent Ekuban

Shameeka Price

John Young

Edward Giles

Matthew Rathbun

Susana Zhuo

Ricardo Hernandez Villalobos

Willie Rhone

CAPITAL AREA REALTOR ® — May/June 2021

29

SENTRILOCK

5 reasons to make the move to the SentriKey Real Estate Mobile App

W

hy make the switch from the SentriCard® to the SentriKey® Real Estate mobile app when accessing your properties? While the SentriCard gets the job done—it opens SentriLock lockboxes—the SentriKey® Real Estate app is a faster, more feature-rich experience. It's mobile access made easy that powers your day!

Check out these five benefits of using the app, and you’ll know why more than three-quarters of all SentriLock lockbox accesses are made with it exclusively.

With the SentriKey® Real Estate app, you can: 1. Streamline your property management process for faster access • Enable Touch ID or facial recognition. Use one of these options instead of your PIN to quickly and easily access your most-used functions.

• Open SentriLock lockboxes. Use your smartphone or tablet to open a SentriLock REALTOR® Bluetooth® lockbox or a non-Bluetooth® lockbox quickly.

• Release the shackle and assign/unassign a lockbox to a property. Release the shackle on a SentriLock REALTOR® Bluetooth® lockbox or a non-Bluetooth® lockbox. And, assign and/or remove your Bluetooth® lockbox from a property easily.

2. Obtain more features to manage your business more efficiently • Grant secure, temporary access. Use the mobile app to grant SentriConnect® access, which provides secure, trackable access to out-of-area agents, contractors and more, and receive notification upon access use.

• Make your showings safer and more secure. When enabled, the Agent Safety feature automatically and discreetly alerts your designated emergency contact when you do not feel safe or cannot confirm you’re safe.

• Keep track of showings. Use the My Schedule feature to schedule and stay on top of showing appointments.

• End a showing early manually. If you wrap up a showing before the end of the allotted time, you can let the listing agent and sellers know with the tap of a button.

3. Receive immediate notifications so you're always in the know Through instant statuses via the Message Center, you'll be informed about missing keys, the beginning of a showing, the end of a showing and more.

30 CAPITAL AREA REALTOR ® — May/June 2021

4. Get property details within the app and link directly to third-party data integration partners for the latest info Upon opening the lockbox, you’re presented with powerful features, including showing instructions, property details, listing agent information and more. You can also transition seamlessly into other third-party data integration apps to access all the detailed listing information you need from our integration partners: RPR, Homesnap, HomeSpotter and Matrix.

5. Eliminate the need for card renewals so you're always up to date Experience the freedom from card renewals—forever—so you're always ready to go whenever your clients are!

Get Started with the SentriKey® Real Estate App

Questions? Contact SentriLock at 513-618-5800 or support@sentrilock.com.

Benefits of the

SentriKey Real Estate App Immediate notifications upon entering and leaving listings.

No need for card renewals — ever!

Touch ID and Facial Recognition to streamline the access process.

Property details through SentriLock's listing detail partners.

Disadvantage of the

VS

SentriCard

X

Industry-wide difficulty in acquiring key components that go into the use of smartcards.

X

An inability to develop new, highly desirable features that will work with smartcards.

X

The natural migration of customers to the superior Bluetooth® connectivity and app-only environment.

More features with the app— Agent Safety, report key missing, and listing agent information.

CAPITAL AREA REALTOR ® — May/June 2021 31

bright mls

3 ways to help buyers in the current market

By Debbie Freer

In today’s market, multiple offer situations are becoming the norm, with buyers placing offers on properties sight-unseen and well above the asking price in an attempt to buy a home. So how can you help give your buyers an edge?

Use the following Bright tools— which are included with your MLS subscription—to provide insight into the competition your buyers can expect.

1 2 32

View shopping activity in the brand-new Bright MLS T3 Home Demand Index.

Statistical reports are helpful for a lot of things, but they don’t typically tell you who is shopping for a property. The Bright MLS T3 Home Demand Index pulls in showing and MLS views on listings in order to give you a unique, forward-looking perspective. The ZIP code on the District of Columbia Metro Area Index map lets you dig in even more to see where interest is most concentrated. Maybe your clients have to live in a particular area, or maybe they are willing to shift their region slightly to contend with less competition. Start using this innovative, new way of looking at the market at homedemandindex.com, or learn more at www.brightmls.com/HDI.

See the number of agents working with buyers in the Market Performance Reports. How many people are actually out there looking? That’s the question on everyone’s

mind. The Market Performance Reports, found under the Market navigation menu in Bright MLS, give you a more granular view into buyer activity. In the “showing” section of the report, you can view the total number of agents scheduling showings to get an idea about the number of buyers. You can also scroll to the top of the report and see how many properties went pending or sold that week, compared to the number of agents scheduling. If 114 showings result in only six sales, your buyers can expect some serious competition in their price range and area. Learn more about the Market Performance Reports at brightmls.com/MPR.

CAPITAL AREA REALTOR ® — May/June 2021

3

Run a search for their area and walk through the results based on very specific criteria and some loosened parameters. Understanding the

number of people you’re competing with is important. Knowing what you’re all vying for is equally important. Your buyers likely gave you a wish list. You can enter all of their must-haves into the Bright Residential Sale search and show them what they can expect in terms of available listings. You can also loosen some of that criteria or extend the area to help them see the possible additional options that they may be willing to consider. Learn more about the Residential Sale search at brightmls.com/SearchTips.

Learn more about your Bright solutions Want to learn more about Bright solutions and how they can help you and your clients?

Register for an upcoming class at brightmls.com/training.

CAPITAL AREA REALTOR ® — May/June 2021

33

Nadia Evangelou, NAR Research

Get to know the millennial homebuyers in the District of Columbia metro area According to the National Association of REALTORS®’ recent Homebuyer and Seller Generational Trends Report, millennial buyers (who range from 22 to 40 years old) continue to make up the largest share of homebuyers, at 37%. In fact, millennials have been the largest share of buyers since 2014.

After analyzing data from the U.S. Census’s 2019 American Community Survey, we identified the millennial homebuyers in both the District and Montgomery County.

Millennial homebuyers in the District The typical homebuyer in the District is younger than the nationwide average, and as of 2019 70% of the District’s homebuyers were millennials. Over the last five years, 2,570 more millennials purchased a home in the District.

As millennials age and reach a point in their lives where they are starting families, we’re hearing that they are looking to buy homes in which they can raise their kids and provide a safe and stable environment.

In the meantime, more single women are looking into owning homes than their single male counterparts; nearly 1 in 3 millennial homebuyers were single women in the District. For many millennial women, their career is a cornerstone, delaying their decision to get married and having children. However, they don’t want to hold off on their home purchase until they get married. These women are not waiting to enjoy the benefits of homeownership.

The District is one of the most diverse areas across the country, with over 40% Black households; fewer than 60% of the area’s millennial buyers are White. Black homebuying activity is strong in the District, and 1 in 4 millennial homebuyers are black. These buyers are often spending more than 40% of their income for housing, compared to the recommended 30% rule. That means adding more low- to mid-priced homes to the market could help many prospective millennial homebuyers from minority groups to purchase homes in the District.

Most millennial buyers spend a median of $630,000 on a home, compared to the median home purchase price of all buyers in the District of $645,000. Despite millennials earning a lower salary than other age groups ($145,400 on average, compared to $154,230), they buy homes nearly at the same price point. They prefer townhomes and they are less likely (6.8%) to choose a new home—built in the last 10 years—than homebuyers of the other age groups (7.6%).

What’s the economic impact?

While the real estate market accounted for 9% of the gross state product in the District, every home sale contributed $253,700 to the local economy in 2020.

34

CAPITAL AREA REALTOR ® — May/June 2021

District of Columbia MILLENNIAL HOME BUYERS

$626,160 Home value

Age 33.1

Single-family 12% home

Income $145,370 Whites 59%

34% Townhomes

Blacks 24%

89% With mortgage

Asians 6%

Cost to Income 27% ratio

Hispanics 12% Married couples 42% Single women 30%

Moved 62% within the same state 20% from different state

Source: NAR calculations of ACS PUMS data

Millennial homebuyers in Montgomery County Millennials are more likely to buy a home in Montgomery County than they are nationwide: In 2019, 1 in 2 area homebuyers were millennials. Millennial homebuyers skew older, and are likely more professionally established in Montgomery County. They earn a higher salary ($150,000) than those who live in the District. And these buyers spent a median of $515,000 on a home in 2019, compared to $630,000 in the District, likely because housing is generally more affordable in Montgomery County.

Parsing it out by household type, the majority of millennial buyers in Montgomery County are married couples (63%), with single men (13%) representing the second-largest share of millennial homebuyers in the county. As a result, these buyers prefer single-family homes (67%) with space for their kids, and they are less likely to choose a new construction.

What’s the economic impact?

While the real estate market accounted for 22% of the gross state product in Maryland, every home sale contributed $111,000 to the local economy in 2020.

All figures included in this article are based on the ACS PUMS data.

CAPITAL AREA REALTOR ® — May/June 2021 35

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LD & Associates LLC 36 CAPITAL AREA REALTOR ® — May/June 2021

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