FAAR Spring 2015 Newsletter by FAAR

May 2015

Key box system options reviewed for 2016 implementation By Linda Fosdick, Key Box System Task Force Chair

t is hard to believe that five years have passed and we are again looking at the products and services of key box vendors.

This year the Board of Directors must decide to stay with SUPRA products or convert to the Sentrilock system. The SUPRA contract term ends in April 2016. The Board will spend the next months gathering agent comments about each system in order to make an informed decision by the end of the year. There is an organized outreach planned including surveys, office visits, a website page, straw poll vote and extensive information distribution.

FAAR is surrounded by associations who use one or the other system. No matter what system is selected, for the sake of doing business effectively, some FAAR agents will have to carry two keys. There is no perfect choice.

Planned outreaches-

Membership survey- A memberwide survey will be sent in June gathering information from the users of the systems. Please

Continued on pg. 4

FAAR passes new NAR certification requirements

he National Association of REALTORS® (NAR) issued stricter standards for local associations to meet in order to retain their charter. Staff submitted a lengthy application which included documentation. The requirement covered six main topics- the Code of Ethics, Advocacy, Consumer Outreach, Unification Efforts and Support of the REALTOR® Organization and Financial Solvency.

According to CEO Pat Breme, the process was not difficult but it was time consuming. “Gathering the documentation to verify the activities and policies took some doing. Subsequent years should be easier because we will maintain an ongoing file.” The certification is now required annually.

Comments Breme, “Some associations don’t follow a strategic plan, or give back to the community, or have a working relationship with elected officials or advocate for property owners. FAAR checks all those

boxes and more because of the participation of the members and the ground work of past and current leaders and staff.”

Local REALTORS® Recognized

2014 Awards

In This Issue 2014 REALTOR® of the Year

2014 Melanie Thompson Award

1 2 SUZANNE BRADY

LAURA FANGMAN

Century 21 Redwood Realty–Locust Grove

Nest Realty Group

ABR, CRB

2014 Professional Honor Role

Recognized for Professional Achievements and Association and Community Volunteerism FAAR recognizes 37 REALTOR® members who have played many “Roles” in their professional and community life. They have accomplished career goals but have also given their time and energy to the community. The recipients accumulated 90 points in the categories of Association Activities, Networking Events, Education Activities, Membership in state and national Institutes and Councils, Service/Civic Activities and Production.

ABR , CRS Coldwell Banker Carriage House Realty

VALERIE DELLANDRE

ABR Long & Foster, Realtors®— Fredericksburg

DREW FRISTOE

ABR Coldwell Banker Elite—Massaponax

KEVIN MCGRATH

Long & Foster, Realtors®— Fredericksburg

MARY BETH RICH

ABR Century 21 Redwood Realty–Stafford

CHIP TAYLOR Century 21 Battleﬁeld Real Estate

NGUYEN R. BANKS ABR Banks Property Management

HILARY F. DELWICHE

Coldwell Banker Elite—Massaponax

NATALIE HOLT

Century 21 Redwood Realty—Stafford

BROOKE MILLER

CRS, GRI, CRB Long & Foster, Realtors®— Fredericksburg

ANTHONY “TONY” SHADE ABR RE/MAX Allegiance

ED TENNSTEDT

Long & Foster, Realtors®— Fredericksburg

MERLYN BANKS

CPM, GRI Banks Property Management

LINDA DORT

ABR, GREEN, SRES Century 21 New Millennium —Fredericksburg

DEBORAH K. KLINGENSMITH*

ABR, GRI Century 21 New Millennium—Fredericksburg

BOB MERCURIO

ABR, GRI Berkshire Hathaway HomeServices Select Realty

SHARON SHADE

ABR RE/MAX Allegiance

PENNY TRABER

ABR, GRI, CRS, SRS 1st Choice Better Homes & Land

TRICIA BARNES

ABR, CRB, GRI 1st Choice Better Homes & Land

LAURA FANGMAN

ABR, GREEN, SRES Nest Realty Group

LINDA LAUB-CANTY ABR, CRS, GRI, SRES 1st Choice Better Homes & Land

ERIN NEWBILL

Century 21 Redwood Realty– Spotsylvania

MICHAEL STRALEY Fathom Realty

GINNY VICKERS

ABR 1st Choice Better Homes & Land

SUZANNE BRADY

CRB, ABR Century 21 Redwood Realty– Locust Grove

CLAIRE FORCIERROWE ABR, CRB, GRI, CRS Coldwell Banker Elite—Massaponax

CINDY LEBRUN

ABR, CRS, SRS Coldwell Banker Elite—Massaponax

BETTY NOLAN KISER

CRS Long & Foster, Realtors®— Fredericksburg

REBECCA STRALEY PMN Fathom Realty

BARBARA WAITE

ABR, CRS, SRES, CRI Nest Realty Group

Fredericksburg Area Association of REALTORS® For area information go to www.faarmembers.com/ consumer

Commercial Corner

ABR, SRS Coldwell Banker Elite—Massaponax

LINDA FOSDICK

CRS, GRI, ABR Dockside Realty

ABR, GRI 1st Choice Better Homes & Land

SARAH STELMOK

ABR, GRI Nest Realty Group

KRISTIE M WALKER

Nest Realty Group

SHA WILLIAMS— HINNANT

Survey Results

Professional Standards

Mortgage Trends for 2015

REALTOR® Foundation Update

Spring Tips: “Coming Soon” Listing Status

REALTORS® Getting Closer to Commercial Drone Usage

BONNIE RAMEY*

ABR,GRI Nest Realty Group

Ethics Training- take one course that counts for both the FAAR requirement and licensing renewal

32 34

LYNN LENAHAN

ABR, CRS, GRI 1st Choice Better Homes & Land

12 22

JENNIFER CAISON

President’s Forum

Professional Honor RoleWhy should I apply?

8268120.INDD

SABRINA ANDERSON

FAAR passes new NAR certification requirements

8 9

ABR, GREEN, SRES

Key box system options reviewed for 2016 implementation

2015 General Assembly Wrap Up

RPAC structure updates, what does it mean for FAAR?

PRESIDENT’S

FORUM It’s Time to Focus.

Phil Mickelson, the great golfer, was once asked: “which shot is the most important shot in your game? Is it the one out of the trap on #12? Is it the drive off the tee on the first par 5? What’s the most important shot in your game?”

He answered very simply: “The most important shot in my game is the one I’m stepping up to take next.”

Phil Mickelson is focused on what stands before him. He does not dwell on the last imperfect shot, or his last birdie victory. He focuses on the next one. That’s the most important shot in the game. For our members and affiliates, focusing on what lies ahead is an integral part of our business. How does one prepare for what lies ahead? The answer is planning.

Focus on planning your business for the second half of the year.

Focus on what our business will look like on one year. Focus on developing your skills. Focus on expanding your network. Focus on your community. This summer, our Association has many opportunities for you to focus on what’s ahead. We have numerous opportunities for our members to participate in discussions and presentations concerning lockboxes. Our Association’s contract with Supra ends this coming spring, so we need to make a decision as far as which lockbox system will work best for our members: Supra or SentriLock. We are counting on our members to make their opinions known as well as participating in the process so they are informed when the ballot is cast at the Trade Show in September. We have numerous opportunities for you to brush up on your skills: Marketing, Technology, Representation, Ethics, Pricing. Prepare for what lies ahead by

Leaders please apply-

Brooke Miller, GRI. CRS. CRB 2015 President taking advantage of the amazing educational opportunities your Association has available on a weekly and monthly basis.

Our Association has many opportunities for you to develop positive relationships with fellow members and affiliates outside a real estate transaction. Focus on attending networking events through our YPN, MeetUp, Managing Broker Network, Multicultural Network, WCR, Street Smarts, CE and PL Classes and many more.

We have upcoming opportunities for you to focus on your community. Our Association will lead a Community Service Day where companies within our association focus on serving our fabulous communities. If we focus on what lies ahead, we are more apt to reach our personal goals. We are more apt to win. And we will be better professionals because of it. What are you going to focus on this summer?

Nominating Committee accepting applications for director positions on the Board of Directors The 2015 Nominating Committee, chaired by 2014 President Debbie Irwin, invites the membership to consider being interviewed for a spot on the fall election ballot. The those winning Director seats will be part of the 2016 Board of Directors, joining the officers and returning Directors. Questions regarding the responsibilities can be directed to Debbie Irwin, Debbie@c21redwood.com or Pat Breme, pbreme@faarmembers.com.

Key box system options reviewed for 2016 implementation Continued from pg. 1

respond when it arrives in your email.

Office meeting presentations-

Contact Lori, lhillardwehr@faarmembers.com, to set up a visit by members of the Key Box Systems Task Force.

Website information page-

The page, www.faarmembers. com/keybox, contains information sent from the vendors on the features of their systems PLUS all other information regarding the review.

Straw poll vote-

Members will be able to voice their pick on the fall election ballot. The Board of Directors will review the results of the ballot when making their decision toward the end of the year.

You may contact the members of the Key Box Task Force to provide support of either system or to ask questions.

Suzy Stone, suzystone22@gmail.com Elsa Rake, elsa@century21redwood.com Pam Kuper, superpam@gmail.com Claire-Forcier-Rowe, claire.forcier.rowe@gmail.com Suzanne Brady, suzsellsc21@gmail.com

Chair-

Linda Fosdick, Linda@discoverlakeanna.com Paddy Osborne, paddy@cbcarriagehouse.com

Meet with the Reps- Supra and Sentrilock June 17 & 18 FAAR Building

Frank discussion about the merits of each system Supra and Sentrilock representatives present an overview of their key box system products. There will be ample time to question them. This visit is another outreach sponsored by the Key Box System Task Force to acquaint the membership with each system. Sentrilockâ&#x20AC;&#x2122;s James Reynolds and Supraâ&#x20AC;&#x2122;s Tom Hill June 17-6 pm to 9:30 pm June 18- 9 am to 12:30 pm

Please register. Seating is limited. RSVP to Chris Suttle, csuttle@faarmembers.com.

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Professional Honor Role- Why should I apply? By Lynn Lenahan, Awards Task Force Chair

o many FAAR members don’t realize how involved they are in their career, the association and the community. The Professional Honor Role (PHR) draws attention to the many activities of many members. A minimum number of points are required under each category- Association Activities, such as membership

on a committee or attending the state convention count. Under the FAAR Events category, points accrue by attending the annual Halloween Mix and the FAAR Expo and Conference. Members attain points for attending classes at FAAR and holding a designation such as GRI, SFR or any number of others. Working in the community merits points. A minimum level of production also counts toward the total number of points.

over the application. You may qualify already. Keep a check list through 2015. The deadline for application is January 29, 2016.

Pat yourself on the back and become a member of the Professional Honor Role. Thirty-seven were awarded the distinction at the April Diamonds and Champagne Gala. Look

Click Here for the PHR form https://faarmembers.wufoo.com/forms/m1trajod1pfyqx4/

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Ethics Training- take one course that counts for both the FAAR requirement and licensing renewal

lthough it can be tricky, it doesn’t have to be. An agent can satisfy both requirements if he or she remembers to take an ethics course that covers the NAR Code of Ethics. FAAR and NAR require that the Code be taught in a 2½ hour class. DPOR doesn’t care if the material is just business ethics or the NAR Code.

All RECA ethics classes teach the Code and an agent can also apply that class toward license renewal. Some proprietary schools just teach business ethics and while that will count toward license

renewal, it won’t work for the Association requirement. In a RECA class, the member’s record is automatically updated.

If an agent takes an ethics class covering the Code of Ethics from a proprietary school, he or she must make sure FAAR gets a copy of the completion form. The school will not send FAAR a copy.

If the agent takes an ethics class that does not teach the Code, the agent must take another class to complete the 2-year training cycle required by FAAR and NAR.

For the convenience of the agents, FAAR sends a letter in October indicating what the Association has on record as their last ethics training date.

Still confused? Contact Lori Hillard-Wehr, lhillardwehr@faarmembers.com, and she will be happy to answer any questions. The best course of action is to make sure the ethics class covers the Code of Ethicsone class checks two credit boxes!

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COMMERCIAL CORNER Commercial Victory at the General Assembly: Reforming the Board of Zoning Appeals Process By Kim McClellan, Government Affairs Director

uring the 2015 General Assembly session, HB 1849 was introduced by Delegate Danny Marshall and aimed to reform the Board of Zoning Appeals (BZA) process to be easier to work with. This bill was adopted by the General Assembly and has the potential to have a positive impact on commercial real estate. The current BZA process is difficult and rarely ends well for property owners. The new law will become effective July 1, 2015 and completely rewrites the BZA process. Securing a variance through the BZA process has been nearly impossible, but

the new rules aim to level the playing field and make it easier for property owners to apply for and actually receive a variance for uses on their land. The new law changes the variance rule to be the restriction of utilization of the property, which is a much more fair way to do it and should open the door for some legitimate variances to be granted. Every year at the General Assembly, VAR fights for legislation that will help commercial practitioners in their unique segment of the real estate industry. The BZA reform bill was unanimously passed

by the House and Senate and demonstrates how REALTORS速 advocating for issues of importance truly pays off.

RECA offering several certifications and designations this year

The Seller Representative Specialist (SRS) Designation, being offered at FAAR. SRS is now recognized by the National Association of REALTORS®, and is the premier credential in seller representation. It is designed to elevate professional standards and enhance personal performance. The designation is awarded to real estate practitioners by the Council of Real Estate Brokerage Managers (CRB) who meet specific educational and practical experience criteria. Regardless of how long you have been in the business, working with sellers is the primary focus for agents across the country. Whether you are new to the industry or a seasoned veteran, the SRS Course will redefine your 'normal' and reinvent the way you represent sellers. You will learn tips and tools that will equip you to list in today's marketplace.

For the last several years, it has been apparent that there has not been training for Seller Agents similar to the REBAC ABR designation disciplines. The SRS Designation takes a new agent to an accomplished level sooner and an already successful agent to an even higher level of competency.

e-PRO, being offered September 9, offers the most up-todate real estate technology training. The technology changed. So they changed our real estate technology training for REALTORS®. The National Association of REALTORS® has partnered with the Social Media Marketing Institute (SMMI) to develop an entirely new e-PRO® program to help you successfully compete in today’s ever-evolving real estate market. The new e-PRO® curriculum shows you how to use the latest social media technologies, such as Facebook and Twitter, to create an online presence vital in reaching today’s hyper-connected consumers. NAR's e-PRO® certification also teaches you how to take advantage of rich media and e-office strategies to run your business more efficiently. By becoming an e-PRO®, you not only prove to consumers that you use the most advanced real estate technology to provide exceptional service, you also take the lead in your market with the many benefits the e-PRO® certification offers your business.

Quickly becoming one of RECA’s most popular certifications, Military Relocation Professional (MRP) is being offered on October 21. When military staff and their families relocate, the services of a real estate professional who understands their needs and timetables makes the transfer easier, faster, and less stressful. This certification focuses on educating real estate professionals about working with current and former military service members to find the housing solutions that best suit their needs and take full advantage of military benefits and support. Learn how to provide the real estate services—at any stage in the service member’s military career—that meet the needs of this niche market and win future referrals. Hone in your knowledge and skills for working with active duty military buyers and sellers, as well as veterans with the NAR's Military Relocation Professional Certification. For additional details or to register for any of these valuable classes, email Barbara at bcastillo@faarmembers.com

Relationships Membe Itâ&#x20AC;&#x2122;s about us!

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Understanding the bas standards By Pat Breme, RCE, CIPS Chief Executive Officer

hy should you draw attention to unprofessional behavior? Such behavior tarnishes the image of all REALTORS®. Contact me if you are not sure the action rises to the level of a possible violation of the Code. Some behavior is just plain bad manners or rude. There is no fee to file but there is paperwork. Members must complete a form, attach a narrative detailing the situation and file within 180 days of the occurrence or knowledge of the occurrence. Additionally, there is no fee if the complaint is processed through the Citation System. The mediation process has no fee.

There are, however, fees for the following-

1- A $250 Processing Fee is imposed on a member who is found in violation of an Article of the Code. 2- A Broker who requests an arbitration and the responding broker are levied a $350 Filing Fee. The party who prevails is refunded the Filing Fee. 22

3- Appealing an Ethics Hearing Decision- $250 4- Requesting a Procedural Review- $250

5- Dispute Resolution Fee- $250 from the primary parties

The fees are not a revenue source to FAAR because there is a great deal of staff time involved in the administration of each servicescheduling and attendance at meetings, paperwork, research/procedure compliance, communications, etc.

Pathways to Professionalism- Do unto others…

Created by the National Association of REALTORS®, Pathways to Professionalism, is a useful, common sense guide to simple courtesy. For example, - Never allow buyers to enter listed property unaccompanied. - Respond to other agents’ calls, faxes, and e-mails promptly and courteously. Click here for more information. www.faarmembers.com/ ProfessionalStandards

The Law of the REALTOR® world… The Code of Ethics

The Code of Ethics is a REALTOR’S® compass for professional behavior. It is composed of seventeen Articles covering duties to clients and customers, the public and to other REALTORS®. The Code goes beyond common sense niceties to what REALTORS® pledge to abide by in their business activities. For REALTORS® it is the law!

Often a difficult market spawns transaction difficulties, odd scenarios, and stress. Those conditions sometimes lead to twisted interpretations of the Code and in some cases, the Code is ignored altogether.

Filing an ethics complaint- Is it really snitching?

Some describe filing an ethics complaint as ratting out, snitching, and view the whole process as unsavory. For the Complainant, time is spent on writing a narrative, citing Articles and gathering information. From the Respondent’s point of

sics of professional view, time is spent on gathering documents to defend his or her motives and actions. When a complaint is sent to FAAR, a Grievance Committee meeting is convened to examine the complaint to see if it has been properly filed. The Committee does not review the information from the Respondent. The Grievance Committee bases its decision on the facts of the Complaint and the final review question asked is, “If the facts alleged in the complaint were taken as true on their face, is it possible that a violation of the Code of Ethics occurred?” In most cases, the Complaint is moved on to a hearing because the answer is usually, yes. Why doesn’t the Grievance Committee look at the Respondent’s view of the situation? When a group has both sides presented it is too easy to draw conclusions and determine outcomes. That is not the role of the Grievance Committee. It performs like a Grand Jury and only looks at the complaint’s viability. The Committee can also dismiss a complaint.

The Citation System- short circuits the process

With the adoption of the Citation System, the Grievance Committee may decide a complaint fits the criteria and will ask the Respondent whether he or she wants the issue to proceed to a

hearing or, without admitting guilt, pay a fine and/or attend mandatory education for the alleged violation. The program only covers certain Articles of the Code- 1, 3, 4, 5, 6, 9, and 12. The fines range from $150 to $500. Complaints coming from other participating Associations-PWAR, DAAR, NVAR, BRAR and GPAAR--will be treated in the same way as outlined. Is it like getting a traffic ticket? Yes. The Respondent accepts the fine and avoids an uncomfortable and often time consuming hearing process. The Complainant is satisfied because justice is served by drawing attention to unprofessional behavior.

behavior, lapses in service, lack of communication between all parties, etc. Some disagreements can be resolved and the formal process averted if brokers are willing to agree to a resolution.

Mediation, a reasonable compromise

The National Association of REALTORS® urges its members to use the mediation process. FAAR offers mediation to the parties after the Grievance Committee has determined an issue is an arbitral matter or has determined that an ethics complaint needs to advance to a hearing. Both parties must agree to come to the table to try to resolve the matter. If mediation Click here for more information. https://www.faarmembers.com/ fails or one party declines the offer to mediate, the case moves docs/Citation System.pdf on to the hearing process.

Where’s my commission?

Another service the REALTOR® Association offers is arbitration of contractual disputes. Most often disputes are over commissions- who was the procuring cause of the sale? This is a broker-to-broker issue but the agents who are party to the transaction are involved and usually testify at the hearing. There are no cookie cutter answers to an arbitration involving procuring cause. The answer to “who did the work” question is colored by many things, such as, client

The hearing- due process at its best

Due process is the goal of the hearing because both sides have an opportunity to present their case, call their witnesses, and cross-examine. Only after both the Complainant and Respondent have their say does a Professional Standards panel of peers decide whether a violation has occurred. It is a fair process and much is disclosed during the process. The truth usually rises to the surface.

Continued on pg. 24

If an agent is found in violation,

Understanding the basics of Professional Standards Continued from pg. 23

the panel can levy a fine and/or a disciplinary action ranging from taking a class on a particular subject to expulsion from the Association.

The Association can’t take a license away, that is the responsibility of the Virginia Real Estate Board, who by the way has its own complaint process independent of whatever action the Association takes.

Broker to broker problem solving

Often unprofessional activities or commission disputes are resolved if brokers take it upon themselves to communicate with each other. Often problems don’t

have to become formal complaint requests for arbitration or worse, not addressed at all, if brokers step in and resolve issues.

Ignoring bad behavior, an image killer

Unprofessional behavior ultimately harms everyone in the business. The public, who may be a victim, is observing the behavior and forming negative opinions about REALTORS® in general.

If warranted use the professional standards services of the Association but always be mindful of the standards REALTORS® pledge themselves to observe.

I PLEDGE MYSELF TO PROTECT THE INDIVIDUAL RIGHT OF REAL ESTATE OWNERSHIP AND TO WIDEN THE OPPORTUNITY TO ENJOY IT; TO BE HONORABLE AND HONEST IN ALL DEALINGS; TO SEEK TO BETTER REPRESENT MY CLIENTS BY BUILDING MY KNOWLEDGE AND COMPETENCE; TO ACT HONESTLY TOWARDS ALL IN THE SPIRIT OF THE GOLDEN RULE; TO SERVE WELL MY COMMUNITY, AND THROUGH IT MY COUNTRY; TO OBSERVE THE REALTORS’® CODE OF ETHICS AND TO CONFORM MY CONDUCT TO ITS LOFTY IDEALS. Click here for more information. www.faarmembers.com/ ProfessionalStandards

Mortgage Trends for 2015 By Barbara Castillo, Education Director

AAR was pleased to welcome Brian J. Chappelle, M.P.A., of Potomac Partners for a special training on March 17. Brian is a leading expert in the mortgage industry, frequently quoted in national publications, a speaker at NAR conferences, and a consultant to the mortgage industry. We learned how an election year may positively affect our businesses along with other coming trends and changes.

Brian reviewed the encouraging demographic data to include job growth and attractive interest rates that are likely to stay low and felt quite optimistic, although he acknowledged that Washington recognizes there is still an “access to credit “ problem to overcome. Enforcement with a focus on consumer protection is something we will be seeing more of in 2015 and beyond from the Consumer Financial Protection Bureau (CFPB) with regards to RESPA. Both joint ventures (Affiliated Business Arrangements) and Marketing Service Agreements (MSA’s) can expect to be scrutinized closer, with more enforcement actions

expected. NAR has published a list of guidelines which can be accessed here: Click here for more information.

http://rismedia.com/2015-0104/dos-and-donts-for-marketingagreements/ Brian shared that the positive lending environment, greater consumer protection, and improving access to credit all combine to create a very positive outlook for 2015 and beyond.

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FAAR Members Step Up for Charity! By Mary Beth Rich, President of the Fredericksburg REALTORS速 Foundation

want to thank every FAAR member who came out to the annual Awards Gala on Thursday, April 16. The Foundation debuted a new and different fundraiser, Diamonds and Champagne, and you all made it a huge success! The best part of the evening was watching the winner's face when she learned she had the real diamond in her champagne glass. Congratulations, Elsa Rake!

Between the diamonds and champagne fundraiser and the Chance Basket Raffle, the Foundation raised nearly $3,000 that is now available to be granted out to local non-profits specializing in housing services. Each Foundation Governor works with a local housing non-profit to learn about their needs and help them apply for money through the Foundation.

In the past two years, the Foundation has granted out over $15,000 to area housing non-profits. These awards have supported such organizations as Greater Fredericksburg Habitat for Humanity, Thurman Brisben Center, Hope House, EmPowerhouse, the Central Virginia Housing Coalition, and Micah Ministries. Foundation fundraisers are a great way for REALTORS速 and affiliates to give back as nearly every single penny that is raised goes back out in grants. The Foundation has a regular presence at events like Bingo, the Awards Gala, the FAAR Expo, and Installation so the next time you're at a FAAR event, support the Foundation. Your tax deductible contribution is one you can feel good about knowing how much of an impact it truly has on our community!

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Spring Tips: “Coming Soon” Listing Status By Michelle Yam, Manager, MRIS Compliance Department

he spring market is here, and sellers will want to sell their homes quickly. However, as you know, some properties are not quite “show ready” when you get the listing. You’re familiar with these properties…they may need a coat of paint or the seller needs to de-clutter. You have explained to the seller how important first impressions are and how just a few changes will stage the home properly and show it in its best light. The seller has agreed to make these improvements, but they still want you to start getting the word out.

This is a perfect opportunity to let your seller know about the Coming Soon listing status option. Here are some key points to discuss with your seller: • The Coming Soon status helps generate buzz for their property. It allows the listing agent to notify other MRIS subscribers about the listing while the seller puts the finishing touches on the property. • The Coming Soon status also allows you to prepare your marketing materials in advance. Once a listing has been submitted in Keystone under the Coming Soon status, you will get an MLS number so you can add documents, virtual tours and marketing materials ahead of time. This saves you from having to wait to upload everything once a listing converts to Active. • Listings under the Coming Soon status are NOT pocket listings. Listings using the Coming Soon listing status

are submitted to the MLS and are viewable by every MRIS subscriber and carry all the benefits of being listed in the MLS. A pocket listing is a property that is not listed on the MLS. • Listings may only be in the Coming Soon status for 21 days or less. • The property may not be re-entered into coming soon status if it has been listed by the same agent or broker within the last 90 days. • While in Coming Soon status, the listing will not be sent to other Broker sites or public syndication sites. • The seller or the listing broker may not show the property to anyone while it is under the Coming Soon status. If the property is shown, the status must be changed to Active status. (Note: If the listing is shown while in Coming Soon status, the listing agent, selling agent or both may be assessed a fine beginning at $500.) • Days on Market does not accrue while the property is in Coming Soon status. If a property is entered into Coming Soon Status, the previous DOMP will not reset unless the property has been in Expired or Withdrawn status for 90 consecutive days. • A property may only be entered into Coming Soon status if there is a listing agreement. Remember, the seller must agree to have their property entered into Coming Soon status. • The seller will be presented with any offers that

might come in on the property, even if the property has not been shown to the prospective buyer.

The Coming Soon status also benefits buyers and Buyer’s Agents. Here are just some of the benefits: • Listings in Coming Soon status are not available to the general public so the buyer must come to you to find out about properties currently on the market and those that will be available for showing soon. • By having access to listings in the Coming Soon status, agents will not be caught off guard by “Coming Soon” yard signs when driving through a community with a buyer. • MRIS subscribers can search for listings in Coming Soon status and let their buyers know about properties that will be available for showing soon. • Unlike pocket listings or other non-MLS listings, listings in Coming Soon status contain an offer of compensation. Listings that are not in the MLS may not contain an offer of compensation.

For more information on the policies concerning the Coming Soon status, please visit MRIS. com/ComingSoon or contact the MRIS Compliance Department at compliance@mris.net.

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2015 General Assembly Wrap Up By Kim McClellan, Government Affairs Director

ll VAR legislative proposals put forth during the 2015 session of the Virginia General Assembly passed with overwhelming support.

REALTORS速 from across the state contacted their members of the General Assembly either through a state call for action or by visiting in person on Day on the Hill. All of our advocacy efforts paid off as the VAR legislative agenda fared exceptionally well in this session. VAR Legislation Summary and Sponsor(s):

Making Sure Predators Get What They Deserve 1493- Delegate Jackson Miller & SB 1100- Senator Mark Obenshain There have been several highprofile cases in the past year where REALTORS速 have been lured into vacant houses and assaulted, raped, abducted - or worse. In each of these instances, the victim was lured to the property through contact from a potential "client" who wanted to see the property. This legislation ensures authorities have additional tools in place to prosecute individuals who knowingly lure or trap REALTORS速 into these circumstances with intent to do harm. 34

Buyers Need to Determine if a Property Will Need Flood Insurance

HB 1642- Delegate Chris Stolle & SB 775 Senator Mamie Locke Buyers, particularly in coastal regions of Virginia, should evaluate and determine whether the property they intend to buy will need additional flood insurance because they are located in a FEMA-determined special flood hazard zone. Currently, a flood certification is performed by the mortgage lender on every property regardless of where it is located in Virginia. This is part of the underwriting of the loan and to ensure appropriate insurance coverage is applied as required by federal law. These bills amend the Virginia Code to add language to the Virginia Residential Property Disclosure Act that provides a "red flag" to a purchaser to exercise due diligence in investigating whether the property resides within a special flood hazard zone, including obtaining a flood certification. Further Clarification to the POA and COA

HB 2100- Delegate Chris Peace Each year, issues arise in the relationships of REALTORS速, homeowners, and POA's and COA's. HB 2100 clarifies these rights and obligations and again limits what fees may be charged by an association or community manager.

Giving Homeowners and Property Owners a Fighting

Chance with BZA's HB 1849- Delegate Danny Marshall This bill will ease the process for a property owner to obtain a variance from a Board of Zoning Appeals, known commonly as a BZA. This comprehensive measure includes provisions to allow property owners equal time at BZA hearings to present their case, to eliminate vague and uncertain criteria from the requirements, and to establish a statewide standard for hearing of a variance request from a private property owner. Landlords and Property Owners Should Not Bear the Burden

HB 1424- Delegate Danny Marshall & SB 868- Senator Ben Chafin These bills close a loophole allowing water authorities in two Virginia localities to place a lien on a landlord or property owner to pay delinquent water bills from past tenants before services could be restored. With this technical fix, a landlord or property owner does not have to pay the past due bill of a previous tenant before a new tenant can have services activated.

Helping Our Consumers Recover Funds They Are Owed HB 1965- Delegate Tom Rust This bill fixes a loophole in state law that was hindering some judges from awarding money owed to consumers as a result of a ruling from the Virginia Real Estate Board. With this fix, courts are now enabled to award general judgments, which are already allowed under the Board of Contractors. According to the Virginia Department of Professional and Occupational Regulations, the average judgment awarded in Virginia is more than $11,000 per ruling.

Making the VRLTA Even Better for Landlords

HB 1451- Delegate Jackson Miller Among a laundry list of items, this legislation conforms the Virginia Residential Landlord and Tenant Act to the common practice of landlords accepting pre-paid rent from tenants who may not otherwise qualify. HB 1451 also allows landlords to maintain electronic records on "the cloud" without incurring liability.

There was a proposal at the start of the General Assembly Session that would increase the deductible homeowners pay to have underground petroleum tanks repaired or removed, if they are found to be leaking. Currently the deductible is $500. The Proposal would have increased it to $2,500, a 500% increase.

Learn more about VAR's legislative efforts on www.VirginiaRealtorsChoose.com.

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On March 20, 2015, FAAR was awarded a Community Engagement Grant in the amount of $2,000 from the Virginia Association of REALTORS®. The money will be used to make this year’s cereal drive bigger and better than ever! Look for REALTOR® branded bags and marketing pieces late this summer to enhance the efforts of collecting cereal from clients and customers. Also, THREE prizes will be awarded:

GRAND PRIZE - Office collecting the most cereal wins lunch delivered from Primavera Most Improved- Office that increases the most from last year wins a Panera breakfast delivered Most Cereal per agent- perfect for smaller offices- wins a Krispy Kreme breakfast delivered

REALTORS® getting closer to commercial drone usage By Kim McClellan, Government Affairs Director

n an industry increasingly reliant upon technology, REALTORS® are always looking for ways to better serve their customers—those interested in buying or selling property. Oftentimes, this includes online tours of homes, galleries of high-quality photos, descriptive videos, and many other multimedia marketing strategies. And now, with the announcement of a proposed ruling by the Federal Aviation Administration (FAA), REALTORS® may soon be able to utilize unmanned aerial vehicles (UAVs), more commonly known as drones, to best showcase their customers’ land and properties. REALTORS® have been advocating for the usage of

UAV’s for years, as they allow a much broader and more accurate picture of a property to prospective buyers than a single photo offers. The FAA’s proposed rule, announced mid-February, provides a framework for safe usage of the tool for real estate purposes in the future. NAR supports the FAA’s regulatory process and its goal of safety for users of the National Air Space and citizens. The proposed rules are still restrictive, but open the door to commercial use. The proposed rules would limit drones to weighing no more than 55 pounds to flying no more than 100 miles per hour at an altitude not higher than 500 feet. The FAA would ban their use at

night or near airports. Drones could also only be operated by someone with a special pilot certification. The regulations are in draft form now and must still go through public comment and revision before being officially adopted.

National Association of REALTORS® President Chris Polychron stated, "NAR plans to submit comments to the agency and will continue to work with our members to educate them about the future safe, responsible, and legal uses of UAVs; however, until the final rule is published, NAR discourages REALTORS® from using UAV photography or video for commercial purposes without an FAA exemption."

RPAC structure updates, what does it mean for FAAR? By Kim McClellan, Government Affairs Director

n November of 2014, the National Association of REALTORS® Board of Directors adopted new rules for how RPAC operates. These new rules don't change a thing about the good work that RPAC does on behalf of the more than 1 million REALTORS® nationwide, but the changes do impact how the local associations collect money and recognize investors.

One of the biggest changes is that RPAC goal setting will no longer be based on a per member number, but instead on a needsbased assessment related to the political cycle. Using Virginia as an example, there are years when there is a Governor's race and virtually the entire General Assembly is up for reelection so RPAC of Virginia will need much more money to support REALTOR®-friendly candidates than a cycle when just the

General Assembly is in play. Funding goals will be based on these political cycles so that we ensure that RPAC can be a player when it's most important. Once the needs-based goal is set, then individual membership counts for each association will be used to calculate local goals.

Another big change is that contributions will now be counted only in the year they are made. In the past, contributions made as part of dues billing were carried over into the year in which the dues applied. This was challenging from an accounting standpoint and the new change simplifies things, but also means that large contributions made for recognition in the Major Investor Program need to be done in the actual calendar year that recognition is desired.

These changes are meant to simplify the process and amplify the REALTOR® voice. Nothing has really changed for members; RPAC continues to be your best investment in protecting your real estate business. So when your dues bill comes this August, consider leaving the voluntary contribution to RPAC on there. RPAC protects the real estate industry by helping to elect REALTOR®-friendly candidates that will advocate for private property rights and understand the far reaching economic impact of the industry.

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