The monthly magazine of My Florida Regional MLS October/November 2011
This Fall... MFRMLS has been thinking “green.”
Volume 1, Issue 6
MFR is putting all documents online. page 3
The MLS (i.e. MLXchange) is “going green.” page 5
ALSO, MFRMLS partners with Office Depot. page 7
My Florida ReSource Magazine
October/November 2011
My Florida Regional MLS (MFRMLS) 5032 Goddard Avenue Orlando, FL 32804
In this issue... 3 3 4 4 5 6 7
October/November 2011 Volume 1, Issue 6
This Fall MFRMLS has been thinking “green.” Featured MFRMLS is putting all documents online Featured No more printed course handouts Featured Transaction Desk, including InstanetFax Featured The MLS is “going green!” Featured No more Mongo Fax! Office Depot-MFRMLS Partnership: Member Savings
In every issue... 8-11 Training & Tips —Habla Espanol? Then MFRMLS is speaking your language. —Help Desk Tip: How to prepare an InstanetFax cover sheet. —Recent My Tips of the Week
13-15 Resources —Have you failed today? —5 Ways to Keep in Touch with Past, Current, and Future Clients
17-18 Real Estate News —Condo, Home Sales Rise in 3Q 2011 —2011 tax credits available for ‘green’ updates —Lenders to start factoring in energy costs?
19-20 Spotlights —Team Member: Doug Wise, Communications Specialist —Product and Services: Proxio
21-22 Compliance Corner (NEW SECTION!) 23 Commercial Real Estate News (presented by MFCRE) —Realtors Expo: CRE Markets to See Improvement in 2012, 2013
24 Around the House (an article for current and future homeowners) —10 ways to prepare for home ownership
Tel: (407) 218-8607 Toll-Free: (800) 686-7451 Fax: (407) 293-6461 About MFRMLS My Florida Regional MLS is Florida’s largest multiple listing service with over 32,000 subscribers. Owned by 15 Shareholder REALTOR® Boards and Associations in Central and Southwest Florida, MFRMLS offers a comprehensive suite of productivity and marketing tools to professionals in the real estate industry. Positioning Statement My Florida Regional MLS is the only real estate information resource that helps our members deliver quality service to their customers by providing the tools and opportunity to succeed in their profession. 2011-2012 MFRMLS Officers Bill Dryburgh, President Melody Hall, President-Elect Steve Amburgey, Vice-President Bob Grant, Jr., Treasurer Aaron Chandler, Immediate Past President MFRMLS Executives Merri Jo Cowen, CEO Jay Markell, CFO, COO Deanna Rogers, VP of Business Development Carole Burgess, VP of Administration Jennifer Thompson-Kersting, VP of Marketing and Education Editorial Staff Natashia Ford, Editor Doug Wise, Editor, Creative Director
www.MFRMLS.com
October/November 2011 | My Florida ReSource | 2
This Fall MFRMLS has been thinking “green.” By MFRMLS Staff As the leaves have turned and start to collect on the ground (at least in some areas of the country) and most publications design themselves with Fall colors, we thought we’d change the scenery a bit and devote this issue of My Florida ReSource to “going green.” After all, we do live in Florida, where it’s green all year round! However, we’re taking about a different kind of “green”: the kind of “green” that involves conservation and protecting the environment. More specifically, we’re talking about reducing the amount of paper we use, as well as our strain on the environment. So, how is MFRMLS “going green?” We’re glad you asked. Here are a few ways MFRMLS is “going green,” and how you can “go green,” as well!
MFRMLS is putting all documents and flyers online! Just like with this magazine, MFRMLS is starting to put more of its handouts and flyers online. Pretty soon you’ll notice all of our handouts and flyers either on MFRMLS. com or linked to on Issuu.com. Subsequently, many of these documents will no longer be provided by MFRMLS in paper. For instance, already on Issuu.com is an online version of our new member Welcome Packet (http://issuu.com/mfrmlscommunications/docs/welcome_ packet_updated_files), that we have begun distributing to new members electronically – rather than handing out in paper and in person. Another great thing about making our documents available online is that we can link directly to the websites of our products and services, without you having to clutter your home or office with a bunch of documents.
So, does that mean MFRMLS course handouts will no longer be printed for MFRMLS classes? That’s correct. Beginning in January 2012, all course handouts for MFRMLS classes will no longer be printed. Prior to class, members will have the following options for obtaining the course handout for that class:
TransactionDesk, including Authentisign and InstanetFax!
1) Downloading the online version of the handout to their laptops, if they are taking their laptop to class or if they are attending a class that does not have a PC lab. (The Associations/Boards that have a PC lab are: Sarasota Association of REALTORS® (SAR); Pinellas REALTOR® Organization (PRO); Greater Tampa Association of REALTORS® (GTAR); Punta Gorda–Port Charlotte–North Port Association of REALTORS® (PGPCNP)). 2) Downloading the online version of the handout and printing prior to coming to class. 3) The link to the online handouts will also be included in the registration confirmation emails that are sent prior to classes, as well as the course descriptions and other places. So, what is the link to the course handouts? http://www.mfrmls.com/resources/document-library/cat_view/53-educationdocuments/105-course-handouts Additionally, in MLXchange, under the Resources menu on the right-hand side of the homepage, there is a category called “Education” where a link to course handouts can be found. Please see the screenshot below.
Although we discussed TransactionDesk in the August issue of My Florida ReSource, it would be difficult to discuss “going green” without mentioning TransactionDesk. Whether you’re using Authentisign to provide your signature to an electronic version of a contract, using the unlimited document storage or using InstanetFax to fax important documents to someone’s email, TransactionDesk makes it easy for you to “go green.” For more information on TransactionDesk, please visit http:// www.mfrmls.com/member-benefits/ transactiondesk-member-benefits
Important note about Mongo Fax Effective January 1, 2012, MongoFax will no longer be offered as a member benefit through MFRMLS. InstanetFax, a product of Transaction Desk, will serve as the replacement for your faxing needs. InstanetFax is available to all MFRMLS members as a free faxing solution. For more information on the elimination of Mongo Fax, please see “Mongo Fax Discontinuation Notice” on page 6.
The MLS is “going green!” By MFRMLS Staff Several new “green,” energy-related fields are coming to MLXchange this December, making it easier than ever for you to identify “green” property features for your clients. These new fields are being added to Residential, Income, Rental and Commercial property types.
da Friendly/Native Landscaping, Vegetable (Productive) Garden and more. —Air Indoor Quality Example pick list options: Bath Fans Vented to Outside, Fresh Air Ventilation System, Range Hood Vented to Outside, Whole House Vacuum System and more.
For Residential, Income and Rental property types, those fields are: —Green Certifications Example pick list options: Energy Star Home, EarthCraft House, FGBC (Florida Green Building Coalition) Green Certified, Florida Friendly Yard Recognition, LEED (Leadership in Energy and Environmental Design) for Homes and more. Please note: If listing agent selects that the property has a green certification, the agent will be required to upload proof of the green certification as an attachment. —Green Energy Features Example pick list options: Energy Star Dishwater, Energy Star Windows, Gas Tankless Hot Water, Geothermal Heat Pump, Hydro Power, Humidistat, Solar Power and more.
—Disaster Mitigation Example pick list options: Above Flood Plain, Fire Resistant Exterior, Hurricane Insurance Deduction Qualified, Hurricane Shutters/Windows, Safe Room and more. Additionally, plans are in the works to add some of these new “green” fields to MyFloridaHomesMLS.com, making it easier for consumers to search for any of your properties that meet any “green” standards. For Commercial property types, the following new “green” fields are being added: —Green Certifications Example pick list options: FGBC Green Certified Building, Energy Star Registered, Florida Green Lodging, Florida Friendly Landscape and more.
—Green Water Features
Please note: If listing agent selects that the property has a green certification, the agent will be required to upload proof of the green certification as an attachment.
Example pick list options: Dual Flush Toilets, High Efficiency Faucet/Fixtures, Irrigation–Low Volume, Whole House Water Purification and more. —Green Landscaping
—Green Site Improvements
Example pick list options: Flori5 | My Florida ReSource | October/November 2011
Example pick list options:
Building Orientation, Bike Rack, Brownfield Redevelopment Site, Parking for Fuel Efficient/Hybrids, Exterior Lighting is Dark Sky Compliant and more. —Green Water Features Example pick list options: Cisterns, Grey Water System, Low Flow Faucets-Sensors, Irrigation System-Reclaimed Water and more. —Green Energy Features Example pick list options: Energy Monitoring System, Green Roof, LED Lighting, Reflective Roofing Material, Solar Water Heater and more. —Indoor Air Quality Example pick list options: No/ Low VOC Cabinets/Countertops, Air Filters MERV 10+, No Smoking in Interior of Building and more. More than anything, we wanted to let you know about these upcoming changes, and please stay tuned to the News section of MFRMLS.com, as well as to future issues of My Florida ReSource for information on the MLS “going green.”
2011 tax credits available for ‘green’ updates. Lenders to start factoring in energy costs? Real Estate News: page 18 Volume 1, Issue 6
MongoFax Discontinuation Notice By MFRMLS Staff Effective January 1, 2012, MongoFax will no longer be offered as a member benefit through My Florida Regional MLS (MFRMLS). The decision to not renew the MFRMLS contract with MongoFax was made after a detailed audit of our current member benefits revealed a duplication of services. InstanetFax, a product of TransactionDesk, will serve as the replacement for your faxing needs. InstanetFax is available to all MFRMLS members as a FREE faxing solution. And now, TransactionDesk is even available for Agent Assistants, Office Assistants and Company Assistants, giving all Assistants access to InstanetFax, as well. Some of the benefits to InstanetFax include: • No limitation to the length of the email address • Send and automatically have a fax back cover sheet sent along with your fax • Watermark documents – draft/confidential • By using the intelligent coversheet you can: — Password protect attachments —Split attachments —Automatically eliminate the need for a cover page • Offline faxing option —Note: If you want to utilize the “offline” coversheet option, you will need to download it to your computer for future use. For detailed InstanetFax instructions visit http://www.mfrmls.com/memberbenefits/instanetfax. To watch a brief InstanetFax Tutorial visit http://www.youtube.com/watch?v= yLL1yO3n4VM&feature=youtu.be. We are certain once you familiarize yourself with InstanetFax, you will enjoy all the benefits it has to offer. We encourage you to begin acquainting yourself with InstanetFax early to ensure a seamless transition from MongoFax. As with anything, change can be unsettling, however we are fully committed to providing you with the resources you need to begin using InstanetFax. If you need any additional assistance in regards to getting started with InstanetFax, please feel free to contact our Help Desk department at 800-686-7451 Option #1 or 407-218-8607 option #1. www.MFRMLS.com
October/November 2011 | My Florida ReSource | 6
MFRMLS partners with Office Depot!
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Office Depot: Taking care of business for MFRMLS members! By MFRMLS Staff My Florida Regional MLS (MFRMLS) is always seeking new opportunities to pass along benefits to its members. That’s why we’re excited to announce … drum roll, please … a partnership with Office Depot!
—Free next-day delivery in major markets with purchases of $50 or more.
MFRMLS and Office Depot have established a strategic partnership, with the mission of providing a comprehensive and price competitive Business Supplies program to MFRMLS members.
How do I sign up for an account? Each business or individual (depending upon preferred method of account set-up) will be individually responsible for their own billing, and will be able to establish invoice or credit card billing.
Whether you’re a broker with many offices or an independent agent who works from a home office, the goal is to provide you with the lowest discount possible, because of your membership with MFRMLS.
Office Depots provides this program without any contracts, commitments or sign-up fees.
So, what types of products and services does this partnership with Office Depot cover? This partnership is designed to cover a wide variety of office supplies and services that are utilized by those in the Real Estate industry. This partnership also provides pricing benefits with solutions in Copy & Printing, Cleaning & Breakroom products, Technology products and Furniture. What are the benefits of signing up for an Office Depot account (through MFRMLS)? —Reduced pricing (more reduced than a standard, non-MFRMLS Office Depot account). —Four convenient methods of shopping.
To SIGN UP, please see visit http://www.mfrmls.com/resources/member-savings/mfrmlssavings Office Depot is Taking Care of Business for millions of customers throughout Florida, and around the globe. Domestically, Office Depot provides products and services through 1,135 retail stores, a dedicated business sales force, top-rated catalogs and a $4.2B e-commerce operation. More specifically to MFRMLS, Office Depot is Florida-based with 143 stores statewide, including approximately 60 stores within the MFRMLS membership area. Overall, this program is designed to provide MFRMLS members with discounts that they normally wouldn’t be able to attain on an individual basis.
7 | My Florida ReSource | October/November 2011
To SIGN UP for an MFRMLS Office Depot account, please visit http://www.mfrmls. com/resources/ member-savings/ mfrmls-savings We thank you for allowing us to serve you, and we know Office Depot looks forward to serving you, as well. Already have an MFRMLS Office Depot account? Need help? Please contact your Office Depot account manager, Michael Whitewolf, at michael.whitewolf@officedepot.com. Office Depot’s Customer Service Department is available Monday through Friday between the hours of 8:00 a.m. and 5:00 p.m. local time. The Customer Service Department is available to assist you with any questions you may have concerning product, pricing, merchandise returns, and support services. The toll-free number for your convenience is 1-888-263-3423. You will need to provide them with the following account number, 57569808, so that they may access your order through the correct account. Volume 1, Issue 6
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Training
Tips
Habla Espanol? Then MFRMLS is speaking your language. MFRMLS is highlighted by the WAV Group for its classes in Spanish; has also begun offering Spanish lessons for its staff. By MFRMLS Staff Recently the WAV Group wrote an article about MLSs offering classes in Spanish and highlighted MFRMLS as an MLS leader in providing training to its Spanish-speaking members.
Here is a link to that article: http://waves.wavgroup.com/2011/09/20/technology-service-providers-should-think-spanish/ Well, did you know MFRMLS has also begun offering Spanish lessons for its staff? “My goal in teaching Spanish to the staff is that they will be able to assist members in basic day to day questions or at least that they will be able to take a message,” said Ivette Jimenez, MFRMLS trainer and Spanish instructor. “The benefit to our members is that they will be able to be assisted by anyone in the office.” Ivette also teaches the MFRMLS member classes in Spanish. “If it’s a new product, I try to do at least two classes in Spanish,” said Ivette. “I discuss it with the education directors of the Associations or Boards.” Otherwise, MFRMLS has at least one day a month where a class (or classes) are provided in Spanish, whether through a webinar or on-site. For more information on upcoming classes or webinars, please visit http:// www.mfrmls.com/resources/education-and-training
www.MFRMLS.com
“
My goal in teaching Spanish to the staff is that they will be able to assist members in basic day to day questions or at least that they will be able to take a message.
“
According to the WAV Group, “we took note when My Florida Regional MLS announced the launch of CoreLogic Data Co-op to their members, and offered two training classes in Spanish … If you are a technology service provider – MLS or Vendor – you may want to take the guidance from MFRMLS to heart. I am pretty confident that their high customer satisfaction scores are in part derived from sensitivities like this.”
October/November 2011 | My Florida ReSource | 8
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Training
Tips
How to prepare an InstanetFax Cover Sheet
1) From the Smart Links section on the home page of MLXchange (under the Resources column) log into TransactionDesk.
tips from the Help Desk A helpful tip from the MFRMLS Help Desk.
2) Once in TransactionDesk click on InstanetFax.
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Volume 1, Issue 6
3) Follow the instructions in the left column.
Help Desk Hours: Monday–Friday: 7:30 AM–8:00 PM
4) After filling in Recipients Email, Subject, and Message for the cover sheet, members can then select to include a Fax-Back Cover sheet (an option not offered in Mongo Fax).
Saturday–Sunday: 8:00 AM–6:00 PM Toll Free: (800) 6867451 Local: (407) 218-8607 Select "Option 1" in the phone menu to be connected to the Help Desk.
6) You’re done!
5) Once everything is filled in, click on create InstanetFax Cover Sheet. Then click where it says “click to open., or right-click...”
www.MFRMLS.com
October/November 2011 | My Florida ReSource | 10
&
Training
Tips
Recent My Tips of the Week Did you know that it is very easy to check and see if your property is secured by FannieMae?
FannieMae backed loan?
1. From the MLXchange HomePage, click on the category under Resources labeled Services & Tools. 2. Then click Fannie Mae Loan Lookup. 3. Fill in at least the required info (Street Address, Zip Code and confirmation that you are authorized to lookup this information along with the Captcha). 4. Click Get Results to review the findings.
IMAPP and Multiple Browsers: Did you know you can access IMAPP outside of MLXchange on various browsers, including Safari (for iPhone and iPad), by using the direct sign in link: http://mfr.imapp.com? Here’s how! 1) Go to http://mfr.imapp.com 2) Select the button titled “Login via SafeMLS Single Sign-On” 3) This will take you to a login screen that looks exactly like MLXchange (but it’s not MLXchange, so don’t be scared away). Enter the same ID and Password you use to access MLXchange. You now have access to IMAPP outside of MLXchange!
MLXchange: Did you know it is possible to search for properties that are not Bank Owned or Short Sales in the MLS? 1. Go to the Search tab in MLXchange. 2. Find the Special Sale Provision field and change the search information to “none.”
Looking for more My Tips of the Week? Please visit http://www.mfrmls.com/ resources/education-andtraining/my-tip-of-the-week for an archive of previous tips.
3. Add any other desired search criteria. 4. Your results should not contain any Bank Owned or Short Sales. 11 | My Florida ReSource | October/November 2011
Volume 1, Issue 6
Class is Now in Session!
Go Big "U" Have you been to MFRMLS University? This training portal will connect you to the many courses available to you as an MFR Member. Online, or in person, we’ve got a class for you. Looking to learn in your pajamas? With easy registration and no waiting, you can bring our trainers into your home through live and recorded webinars. Available online, you can save gas and you can save time. Best of all, the courses are free. Need face time? No problem. MFRMLS University also connects you to live courses taught at your association/board by MFRMLS instructors. With interactive sessions in a classroom setting, you’ll be an expert in no time. In-person or online, MFRMLS University can help you boost ered with your membership. Log on today to learn more!
www.MFRMLSUniversity.com
www.MFRMLS.com
October/November 2011 | My Florida ReSource | 12
Have You Failed Today? Successful real estate agents are failures.
By Anand Patel
Failure :)
Let me explain. To really make it big in real estate, we have to accept the fact that failing — A LOT — is part of the equation. We all know real estate is a numbers game, we just have to remember that every time we fail (i.e. FSBO says, “I just bought this new how-to book and I’m selling my home myself!” Buyer says, “Sorry, I’m working with my sister’s ex-boyfriend’s step mom who just got her real estate license.”) we are one step closer to getting that “Yes!” If we aren’t failing at least weekly, preferably DAILY, we aren’t stepping outside our comfort zone enough. This means we are settling and not pushing ourselves beyond what we “think” we are capable of accomplishing. We all know, deep down, we can each do MORE. I have
to remind myself all the time when I get in a rut. So what do we do to keep moving forward, being persistent, resilient, and staying motivated in the face of “failing” daily?
Resources
13 | My Florida ReSource | October/November 2011
• Make a game out of it. Why can’t failing be fun? Keep tally on a whiteboard in your office of each call that’s a “No” and then celebrate the eventual “Yes!” with a simple pat on the back, a little victory dance at your desk, or buy yourself that new jacket you’ve been wanting as a reward. Do whatever it takes to make it fun and enjoyable. • Don’t take it personally. Each person you don’t attempt to call or approach, you are already 100 percent guaranteed NOT to get their business. What do you have to lose? • My favorite method: Have a theme song you play in your mind that pushes you each time you “fail.” I like to use the sage rapper Jay-Z’s song “On to the Next One.” Maybe your theme song is Fleetwood Mac’s “Don’t Stop,” Tom Petty’s “I Won’t Back Down,” or Chumbawamba’s
one hit wonder “Tubthumping (I Get Knocked Down).” Find a song you like that motivates you to keep moving forward in spite of constant rejection.
We all picked an industry that takes a lot of “failing” to succeed, but this is what makes us who we are as REALTORS®. This is why we are so resilient (this is also why many employers in other industries look to recruit former real estate professionals). Don’t be afraid to fail, bounce back and keep failing daily…and remember with each rejection — it’s “On to the Next One!” Anand Patel is a broker licensed in Florida, Georgia, Tennessee, and Mississippi with Elite REO Services and Elite Premier Properties. You can connect with Anand on Twitter: @anand_ tampa; Facebook: www.facebook.com/ livingelite; LinkedIn: www.linkedin. com/in/anandpatel1 or on the Web at www.anandsblog.com. Copyright National Association of REALTORS®. Reprinted with permission. Source: http://ypnlounge.blogs.realtor. org/2011/11/08/have-you-failed-today/
Volume 1, Issue 6
http://shortsale.mfrmls.com
a request Tuesday and had TWO calls from houses but she called the second time because I I call responsive! And she couldn’t have been -M. Hunt Altamonte Springs, FL
Eligibility Criteria http://loanlookup.fanniemae.com/loanlookup/ Real estate professional must be a member of a participating MLS. Real estate professional must be the listing agent for the property. Real estate professional must obtain a signed Borrower Authorization Form (BAF) from the homeowner(s) and submit it to the MLS; http://mfrmls.com/shortsale/docs/SSAD-BAF.pdf
1-800-686-7451 support@mfrmls.com
Submission Guidelines issue by working through the servicer. Real estate professional may submit the case in the event the servicer has not provided: an initial response within 20 days,
or, if the real estate professional has received an approval from the servicer for your transaction, but either the mortgage insurer or second lien holder has imposed a closing condition that is not possible for the borrower to meet. Real estate professional must address all “actionable” requests from the servicer before submitting the issue. Where additional documentation is requested, servicer response time will be
www.MFRMLS.com
5032 Goddard Avenue Orlando, FL 32804 shortsale.mfrmls.com support@mfrmls.com
October/November 2011 | My Florida ReSource | 14
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Volume 1, Issue 6
5 Ways to Keep in Touch with Past, Current, and Future Clients at this moment. But they always are looking for helpful information.
By David Krichmar Any time you come in contact someone who needs a REALTOR®, you should add them to your database. Trust me, I know this idea in itself is not brilliant. Once you have a database, how do you keep in touch with those clients? The key to having a database is to stay in touch with past clients, current clients, and future clients. Not just past clients. What about someone who contacted you but did not need your services at that time; that is defined as a “future” client. So if you don’t already, add every person and email address to your data base as soon as they contact you. Now would be a great time to start. Once you have a growing database, let’s talk about 5 ways to keep in touch with them. 1. e-Newsletters - Again, not a rocket science idea; you probably already do this. But if not, start doing it. Many email marketing programs will do the newsletter for you and send it out monthly. Making this the easiest way to keep in touch. Make sure the newsletter does not just talk about real estate, but other topics as well. This gives a better chance of your contacts actually reading the information and finding it helpful. Keep in mind, not everyone needs a REALTOR® right www.MFRMLS.com
2. Friend them on Facebook - As Facebook has grown, the majority of folks are on Facebook daily. So friend your database on Facebook. This makes it easiest to keep up with their needs and life events. Most people look at Facebook as being private, so not all clients may accept your friend request. In this example I suggest just friending past clients, that way you have the strongest relationship with them. 3. Follow them on Twitter - Unlike Facebook, not as many of your clients maybe on Twitter. But it is still worth following the ones who are. 4. Connect on LinkedIn - I would not suggest LinkedIn is as effective as friending someone on Facebook. But, it is just one more way to stay in touch on a professional level. 5. Make them your friends - As corny as this sounds, it should be your goal. Keep in contact with your clients, interact with them and even ask for business. Do not assume because they have your business card that they will call you in a year when they buy a home. Email them to say hi or even pick up the DREADED phone and call them. By now, you should have a database of past, current, and future clients. If not, get to work and start one. Obviously, none of the ideas on this list are brilliant. But, when done correctly they can allow you to consistently get referrals from your client list. And
getting referrals will make you feel Brilliant! David Krichmar has been in the real estate business since age 19 and is currently a mortgage expert in Sugar Land, Texas. Connect with him at www.daveyourmortgageguy.com or @ DaveMortgageGuy. Copyright National Association of REALTORS®. Reprinted with permission. Source: http://ypnlounge.blogs.realtor. org/2011/10/26/5-ways-to-keep-intouch-with-past-current-and-futureclients/
Resources
October/November 2011 | My Florida ReSource | 16
Florida’s Existing Home, Condo Sales Rise in 3Q 2011 ORLANDO, Fla., Nov. 9, 2011 / PRNewswire/ -- Florida’s existing home and existing condo sales continued to show gains in third quarter 2011 compared to the same period a year earlier, according to the latest housing statistics from Florida Realtors®. Existing home sales rose 12 percent in 3Q 2011 with a total of 46,759 homes sold statewide; during the same period the year before, a total of 41,728 homes changed hands according to Florida Realtors. Statewide sales of existing condos in the third quarter rose 13 percent compared to the year-ago sales figure. Florida’s existing-home median sales price continued to stabilize and remained level at $136,000 for the three-month period; in 3Q 2010, it was $135,900. The median is a typical market price where half the homes sold for more, half for less. In the year-to-year quarterly comparison for existing condo sales, 20,383 units sold statewide in the third quarter compared to 17,980 units in 3Q 2010 for a 13 percent increase. The statewide existing-condo median sales price was $89,600 in the third quarter; a year earlier, it was $83,700 for a 7 percent increase. “The quarterly numbers confirm the general improvement in Florida’s housing market in both sales and prices that we’ve been seeing since January 2011,” said Florida Realtors Chief Economist Dr. John Tuccillo. “However, this positive trend isn’t
receiving the attention it’s due because of the interaction of people’s expectations, perceptions and reality. When you come out of a recession, people expect the real estate market to take a huge jump forward, and when it doesn’t, they perceive that the market is ‘bad’ or still down. However, the reality is that the Florida market is improving and it has been for some time – it’s just improving more slowly than initial expectations.”
representation to its 115,000 members in 64 boards/associations. Florida Realtors® Media Center website is available at http://media. floridarealtors.org.
Mortgage rates continued to hover around historical lows in the third quarter. According to Freddie Mac, the national commitment rate for a 30-year conventional fixed-rate mortgage averaged 4.31 percent in 3Q 2011; one year earlier, it averaged 4.45 percent. Two charts showing statistics for Florida and its MSAs are attached. One chart compares the volume of existing, single-family home sales and median sales prices in the third quarter of 2011 to the third quarter of 2010, based on Realtor closed transactions from local Realtor boards/associations within the MSAs. The second chart compares the volume of existing condo sales and median sales prices in third quarter 2011 to third quarter 2010, based on Realtor closed transactions from local Realtor boards/associations within the MSAs. Florida Realtors®, formerly known as the Florida Association of Realtors®, serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative
17 | My Florida ReSource | October/November 2011
Volume 1, Issue 6
2011 tax credits available for ‘green’ updates WASHINGTON – Sept. 19, 2011 – Adding green technology to a home can help homeowners save money in the long run, but some may not be able to afford the upfront investment. Several tax credits effective this year, however, can help homeowners – and buyers – save on green updates. Here are two main tax credits available for those interested in making energy efficient improvements to their homes: 1. Wind, solar, geothermal and fuel cell tax credit: This tax credit is available for existing homes and new construction. Homeowners can receive a credit up to 30 percent off the cost of their improvements between Jan. 1 and Dec. 31 this year. The following green updates qualify: Geothermal heat pumps, solar panels, solar water heaters, small wind energy systems, and fuel cells. 2. Qualified energy efficiency improvements: This credit gives a 10 percent tax credit for purchases “placed in service” between Jan. 1 and Dec. 31, 2011. The maximum credit for a taxpayer for all taxable years is $500, and no more than $200 of such credit may be attributable to expenditures on windows. This rule means that taxpayers who have claimed $500 or more of this tax credit in prior years, particularly 2009 and 2010, can no longer participate in the program.
?
Learn more about what upgrades are eligible as well as how to apply on the National Association of Home Builders’ website. Reprinted with permission. Florida Realtors®. All rights reserved. Source: http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=265069
Did you read that the MLS (i.e. MLXchange) is going to have new “green” search fields? Page 5.
www.MFRMLS.com
Real Estate News
Could lenders start factoring in energy costs? WASHINGTON – Nov. 2, 2011 – Rising utility bills can greatly affect a homebuyer’s ability to afford a house, sometimes even more so than property taxes or homeowner’s insurance. As such, a new bill introduced in the Senate is calling on lenders to start taking into account a home’s energy costs in standard mortgage underwriting – right along with principal, interest, taxes and homeowner’s insurance. The bipartisan bill, SAVE Act (Sensible Accounting to Value Energy) would require the three major mortgage agencies – Fannie Mae, Freddie Mac, and the Federal Housing Administration – to factor energy costs into every loan they insure, guarantee or buy. To gather estimated costs of energy bills on a home, lenders would use data from previous utility bills or from an Energy Department survey database. The bill also calls on the mortgage agencies to instruct appraisers to raise their property valuations when energy efficiency savings on a home can be shown. The higher value could then be used by a buyer to justify a higher loan amount if needed. Source: “Mortgage Lenders Could Soon Take Homes’ Energy Costs into Account,” BostonHerald.com (Oct. 30, 2011) © Copyright 2011 INFORMATION, INC. Bethesda, MD (301) 215-4688 Reprinted with permission. Florida Realtors®. All rights reserved. Source: http://www.floridarealtors.org/ NewsAndEvents/article.cfm?id=266923
October/November 2011 | My Florida ReSource | 18
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MFRMLS Team Member Doug Wise, Communications Specialist Every month we spotlight one MFR team member, in order to help distinguish the dedicated, hard-working, friendly faces we have on our MFR staff. We truly believe we have an outstanding team of individuals. And, of course, this is no coincidence, as we look to provide our members with outstanding service. So, without further ado, we are pleased to spotlight (drum roll please) … Doug Wise, Communications Specialist and new dad. How long have you been working at MFR? I’ve been with MFR for a little over seven months. What aspect of your job do you enjoy the most? I love communicating with our members about various products or opportunities that might help them achieve more success. It’s also a pleasure to work with our various departments on any items that need to be communicated. In general, I love communicating with a clear plan and goal in mind, and then getting feeback and results. Any hobbies outside of work? I enjoy hanging out with my family, including my 10 month old daughter. I also enjoy sports, theater and film—but, have to be honest, my daughter is where most of my attention is outside of work. What’s the number #1 thing you’ve learned about being a dad? It’s going to be a lot harder to tell my daughter “no” than I thought. Where were you born and where were you raised? I was born and raised in St. Petersburg, Fl. If there’s one place in the world, all expenses-paid, you could visit tomorrow, where would that place be and why? Probably all of Europe. Although I’ve been to France and Germany, I would love to travel all of Europe and take in lots of history. And, of course, some relaxing too. So, I’d want to do it all. Thank you Doug! 19 | My Florida ReSource | October/November 2011
Volume 1, Issue 6
Proxio
Spotlights
“Proxio” Helps Members Reach Beyond Borders Proxio is a foreign language portal which translates listing information to nineteen different languages on the MyFloridaHomesMLS.com consumer website. Proxio truly enhancing the marketing exposure to potential buyers and investors beyond the domestic U.S. borders. Considering that nearly 13% of the consumer website traffic originates from foreign soil, the leadership and staff at MFRMLS were excited to roll out this member benefit. In addition, local buyers within the United States whom speak a primary language other than English can take advantage of the new translation feature. While viewing the Home Page of MyFloridaHomesMLS.com, take notice of a row of flags depicting the various different languages from their respective foreign countries. When a flag is clicked upon, the new page assumes the new language and the journey begins.
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Users will be able to observe property features and descriptions in their language, with the exception of Public Remarks which will remain as entered by the REALTOR® in MLXchange. Additionally, users will have the ability to convert Square Foot measurements to the Metric System, if they so choose. They will even have the ability to covert the listing price from U.S. Dollars to the currency associated to that country’s flag. Currency conversion rates are updated daily as a convenient value-added benefit.
Product and Service
Member Benefits MFRMLS Members will have the opportunity to brand themselves as an international real estate specialist. As part of the agreement with MFRMLS and Proxio, members will receive a FREE Proxio Basic subscription containing a profile page listing their fluent speaking languages, contact information and a profile photo. Since the Proxio Basic subscription is free, it is highly recommended that all MFRMLS members activate their profile page as soon as possible. For more information on Proxio, please visit the Proxio pager under the Member Benefits menu on MFRMLS.com: http://www.mfrmls.com/member-benefits/proxio www.MFRMLS.com
October/November 2011 | My Florida ReSource | 20
Compliance Corner
Thank you. MFRMLS prides itself on accurate data, and one of our goals is to maintain a listing service that is successful for everyone. With that said, we want to thank all of our members who comply with our rules and regulations. If there is a violation, a warning will be issued. Most warning notices allow 24 hours for correction before a fine is assessed. However, failure to change the status of a listing is a more serious offense, which is an automatic fine without any warning notice.
SEPT. statistics for rules violations: Total number of Warnings: 8,619 Total number of Agents Reported: 1,403 Total number of Fines assessed: 99
Top Five Violations for SEPT. 1. Status – failure to change the status from pending to sold within two business days of the closing. 2. Active with Contact (AWC) – failure to have seller’s written authorization and/or add the “Active with Contract” in the Public Remarks directly after “Short Sale,” if applicable. 3. Short Sale – failure to add “Short Sale” as the first two words in the Public and Realtor Remarks. 4. Incorrect Photo – failure to add a front exterior or rendering, or aerial photo or water view photo in the first photo slot. If a water view or aerial photo is in the 1st slot, the 2nd photo slot must contain a front exterior photo. If placing a water view photo, it must be a photo from the property/unit. Photos may not contain any contact information, text, etc. 5. Driving Directions – are required and must be for narrative directions that include full street names, beginning and ending points and use standard directional designations. Reference to online electronic mapping isn’t allowed (e.g. Mapquest, Google, GPS is not acceptable.)
21 | My Florida ReSource | October/November 2011
Volume 1, Issue 6
Are YOU a Commercial
Compliance Corner
Realtor®?
OCT. statistics for rules violations: Total number of Warnings: 10,378 Total number of Agents Reported: 1,391 Total number of Fines assessed: 79
Top Five Violations for OCT. 1. Status – failure to change the status from pending to sold within two business days of the closing. 2. Short Sale – failure to add “Short Sale” as the first two words in the Public and Realtor Remarks. 3. Active with Contact (AWC) – failure to have seller’s written authorization and/or add the “Active with Contract” in the Public Remarks directly after “Short Sale,” if applicable. 4. Driving Directions – are required and must be for narrative directions that include full street names, beginning and ending points and use standard directional designations. Reference to online electronic mapping isn’t allowed (e.g. Mapquest, Google, GPS is not acceptable.) 5. Incorrect Photo – failure to add a front exterior or rendering, or aerial photo or water view photo in the first photo slot. If a water view or aerial photo is in the 1st slot, the 2nd photo slot must contain a front exterior photo. If placing a water view photo, it must be a photo from the property/unit. Photos may not contain any contact information, text, etc.
*Please note (of the month): Year End Statistics: Start checking your listings to insure accuracy.
www.MFCRE.com
Each month one of the top violations is Status. As 2011 is coming to end, we want to make sure your “pending” and “AWC listing” are closed out in MLXchange within two business days, and the correct selling agent is receiving the credit for the sale.
For more information: Please go to http://www.mfrmls.com/resources/rules-regs for a current version of, or questions about, MFRMLS rules and regulations. You can also contact a compliance or administration specialist at 1-800-686-7451 (option #4) for more information.
www.MFRMLS.com
For more information about becoming an MFCRE member, a Commercial Information Exchange (CIE), please contact Connie Kazakowitz at 1-800-686-7451 (ext. 8668) or email ConnieK@mfrmls.com
October/November 2011 | My Florida ReSource | 22
Commercial
presented by
Real Estate
Realtors Expo: CRE Markets to See Improvement in 2012, 2013 November 14, 2011 By Nicholas Ziegler, News Editor Commercial Property Executive “Blame it on the economy” was the take-home message at last week’s Commercial Real Estate Business Trends Forum at the 2011 Realtors Conference & Expo – but there are bright spots on the horizon. According to Lawrence Yun, chief economist for the National Association of Realtors, relief for stressed markets should be coming in 2012 and in 2013. According to Yun, the U.S. economy remains sluggish and continues to perform well below the desired pace of economic expansion. Still, he said at the current rate of growth, about 3 to 4 million jobs will be generated over the next 2 years. Additionally, Yun doesn’t forecast a second recession, primarily due to the “strong cash potential that businesses could release into the economy.” However, a majority of CRE sectors are still experiencing rising absorption and little improvement in asking rents. One of the major questions still remaining is the performance of the multi-family sector. Unlike most other CRE areas, multi-family has seen an increase in asking rents, with absorption rates increasing and vacancy rates falling. Yun attributed the change to the changing dynamics in the homebuying markets, noting that the lack of available credit is keeping many out of the realm of purchase for the time being.
MFCRE for your mobile phone
www.MFCRE.com A separate session at the Expo, “Buyer or Renter Nation?” addressed the same question. “We knew that homeowners, on average, accumulate more wealth than renters,” Ken Johnson, editor of the Journal of Housing Research, said at the session. “These findings indicate that homeownership is a self-imposed savings plan. Not everyone should own a home, but from a financial perspective, people who are planning to stay in a property over the long term can benefit from buying.” Yun’s overall message agreed with Johnson, going on to further state that “increasing rents combined with low interest rates are enticing some individuals into the housing market.” “I anticipate a small recovery in the next year in home values, which would help small business owners,” he said. “However, that’s only if legislators and regulations don’t add obstacles to hinder the housing market recovery, such as modifying or eliminating the mortgage interest deduction or increasing down payment requirements.” Reprinted with permission. Commercial Property Executive. Source: www.cpexecutive.com
23 | My Florida ReSource | October/November 2011
Volume 1, Issue 6
Around the House
An article for current and future homeowners
We hope My Florida Resource is what it claims to be … a resource to you. We know anything that helps your clients in turn does the same for you. So we thought it would be nice to include this “Around the House” section. It’s a place where we share consumer articles with you that can be passed along to your clients or included in your newsletter content.
10 Ways to Prepare for Homeownership 1. Decide what you can afford. Generally, you can afford a home equal in value to between two and three times your gross income. 2. Develop your home wish list. Then, prioritize the features on your list. 3. Select where you want to live. Compile a list of three or four neighborhoods you’d like to live in, taking into account items such as schools, recreational facilities, area expansion plans, and safety. 4. Start saving. Do you have enough money saved to qualify for a mortgage and cover your down payment? Ideally, you should have 20 percent of the purchase price saved as a down payment. Also, don’t forget to factor in closing costs. Closing costs — including taxes, attorney’s fee, and transfer fees — average between 2 and 7 percent of the home price.
mortgage or down payment assistance programs? Check with your state and local government on down payment assistance programs for first-time buyers. Or, if you have an IRA account, you can use the money you’ve saved to buy your fist home without 6. Determine your mortgage qualifica- paying a penalty for early withdrawal. tions. How large of mortgage do you 9. Calculate the costs of homeownerqualify for? Also, explore different loan options — such as 30-year or 15- ship. This should include property year fixed mortgages or ARMs — and taxes, insurance, maintenance and utilities, and association fees, if apdecide what’s best for you. plicable. 7. Get preapproved. Organize all the 10. Contact a REALTOR®. Find an documentation a lender will need to experienced REALTOR® who can help preapprove you for a loan. You might need W-2 forms, copies of at least one guide you through the process. pay stub, account numbers, and copSource: http://realtormag.realtor.org/ ies of two to four months of bank or sales-and-marketing/handouts-forcredit union statements. customers/for-buyers/6-creative-waysafford-home 8. Weigh other sources of help with a down payment. Do you qualify for any special 5. Get your credit in order. Obtain a copy of your credit report to make sure it is accurate and to correct any errors immediately. A credit report provides a history of your credit, bad debts, and any late payments.
The above article is just one of the many articles you can find in the consumer, handout section on Realtor.org. Their consumer articles are downloadable and able to be customized with your branding. Here is a link to their consumer, handout section: http://realtormag.realtor.org/sales-and-marketing/handouts-forcustomers/for-buyers www.MFRMLS.com
October/November 2011 | My Florida ReSource | 24
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25 | My Florida ReSource | October/November 2011
Keeping YOU at the Center of the Transaction.
Volume 1, Issue 6
How does RatePlug help Agents in today’s market?
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RatePlug provides your prospective homebuyers with valuable payment information specific to each property they view. MFRMLS PROPERTY REPORT & LINK Online, interactive housing payments & lending info displayed side-by-side with property information on a new Consumer Report Keeps customers on listings longer You choose the lender to display Interactive mortgage tool allows homebuyers to play ‘what if’ scenarios to address their financing needs
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www.MFRMLS.com
October/November 2011 | My Florida ReSource | 26
Happy Holidays!
Buone Feste! December 2011 Feature: Felices Fiestas! Joyeuses Fêtes! Boas Festas! Going Global. Forhe Feiertage! Mutlu Bayramlar! Looking for a calendar of upcoming training classes? Visit http://www.mfrmls.com/resources/training-and-events for a complete calendar of upcoming courses. Did you know we also offer live webinars? http://www.mfrmls.com/resources/training-and-events/webinars/ cat.listevents/2011/05/20/Administration and Membership Question?
The Administration Department at My Florida Regional MLS has two main responsibilities—ensuring an accurate MLS database and maintaining your membersubscriber information.
Help Desk Hours: Monday–Friday: 7:30 AM–8:00 PM Saturday–Sunday: 8:00 AM–6:00 PM Toll Free: (800) 686-7451 Local: (407) 218-8607 http://www.mfrmls.com/membersupport/help-desk 27 | My Florida ReSource | October/November 2011
Whether you have questions about our MLS Rules and Regulations, listing violations, subscriber fees or simply need to update your contact information, our Administration Specialists are ready to assist you. Department hours are Monday through Friday from 8:30 AM to 5:00 PM. 1-800-686-7451 (option #3) http://tinyurl.com/mfrmls-adminmembership
Address: My Florida Regional MLS 5032 Goddard Avenue Orlando, FL 32804 Telephone: Tel: (407) 218-8607 Toll-Free: (800) 686-7451 Fax: (407) 293-6461 Volume 1, Issue 6
Social Media
Converse with MFRMLS. Keep informed. “Like” us on Facebook! http://www.facebook.com/MyFloridaRegionalMLS http://www.facebook.com/mfcre http://www.facebook.com/MyFloridaHomesMLS
Follow us on Twitter! @MFRMLS @MFCRE @MyFloridaHomes
MFRMLS Associations and Boards Shareholder Associations and Boards Bartow Board of REALTORS®— http://www.bartowboardofrealtors.com/index.html East Polk County Association of REALTORS®— http://epcar.com/ Englewood Area Board of REALTORS®— http://www.englewoodareaboardofrealtors.com/ Greater Tampa Association of REALTORS®— http://www.gtar.org/ Lakeland Association of REALTORS®— http://www.lakelandrealtors.org/ Manatee Association of REALTORS®— http://www.manateerealtors.org/ Orlando Regional REALTOR® Association— http://www.orlrealtor.com/Main/Main.asp Osceola County Association of REALTORS®— http://osceolarealtors.org/ Pinellas REALTOR® Organization— http://tampabayrealtor.com/ Punta Gorda-Port Charlotte-North Port Association of REALTORS®— http://pgpcnprealtors.com/ REALTORS® Association of Lake & Sumter Counties— http://www.ralsc.org/ Sarasota Association of REALTORS®— http://www.sarasotarealtors.com/ Venice Area Board of REALTORS®— http://www.vabr.org/ West Pasco Board of REALTORS®— http://www.wpbor.com/ West Volusia Association of REALTORS®— http://www.westvolusiarealtor.org/
Member-Subscriber Associations and Boards Desoto County Board of REALTORS®— N/A Lake Wales Association of REALTORS®— http://www.lwar.net/ www.MFRMLS.com
October/November 2011 | My Florida ReSource | 28
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www.Proxio.com/MFRMLS Connect. Communicate. Sell. TM 29 | My Florida ReSource | October/November 2011
Volume 1, Issue 6