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CHARLOTTE
Arcade Square Business Center
770 Tyvola Road
Oct. 4 (Thurs), Oct. 5 (Fri)
Oct. 11 (Thurs), Oct. 12 (Fri)
WILMINGTON
Market Place Mall
127 S. College Road
Oct. 25 (Thurs), Oct. 26 (Fri)
Nov. 1 (Thurs), Nov. 2 (Fri)
SOUTHERN PINES
Days Inn
US Hwy 1 – Morganton Road
Nov. 8 (Thurs), Nov. 9 (Fri)
Nov. 15 (Thurs), Nov. 16 (Fri)
FAYETTEVILLE
Cliffdale Plaza Shopping Center
6900 Cliffdale Road
Oct. 11 (Thurs), Oct. 12 (Fri)
Oct. 18 (Thurs), Oct. 19 (Fri)
BOONE
Broyhill Inn and Conference Center
775 Bodenhelmer Driver
Nov. 8 (Thurs), Nov. 9 (Fri)
Nov. 15 (Thurs), Nov. 16 (Fri)
RALEIGH
Creedmoor Crossings Shopping Center
5617 Creedmoor Road
Nov. 26 (Mon), Dec. 3 (Mon)
Dec. 10 (Mon), Dec. 17 (Mon)
MOREHEAD CITY
Hampton Inn
4035 Arendell Street
Oct. 22 (Mon), Oct. 23 (Tues)
Oct. 29 (Mon), Oct. 30 (Tues)
CONCORD
Wingate Inn
7841 Gateway Lane NW
Nov. 8 (Thurs), Nov. 9 (Fri)
Nov. 15 (Thurs), Nov. 16 (Fri)
GREENVILLE
J.Y. Monk Real Estate School
1700C East Arlington Blvd.
Nov. 29 (Thurs), Nov. 30 (Fri)
Dec. 6 (Thurs), Dec. 7 (Fri)
Just about every successful organization that I know undergoes a formal self-evaluation at least every few years. It’s an opportunity to step back and assess what you’ve been doing and how you’ve been doing it.
The North Carolina Association of REALTORS® certainly is a successful organization that’s done and continues to do a lot of things well, thanks to a talented staff assembled by Tim Kent and a strong, dedicated group of volunteer leaders. For several years, we’ve taken advantage of the latter’s skills by having them serve on a Strategic Planning Committee, a group of about 30 individuals who would meet annually for a two-day retreat.
From that came the consensus that some things can be done better. And from that, then, a Program Audit Task Force was formed last year to examine our existing association-wide programs and offer suggestions to reduce costs and increase efficiency. Their findings were taken to the Executive Committee, which can act on recommendations as it sees fit.
A few changes already are in the works, and more will be forthcoming. Most notably, beginning in 2009, we will take a different approach – a smaller one, at that
to strategic planning in odd-numbered years. We’ll center our efforts on one or two specific issues, and we’ll do so through the use of focus groups. (In even-numbered years, we’ll continue the two-day retreat with 30 folks.)
Also, staff is working to consolidate our Vision Quest and Inaugural Meetings programs, which now take place within six weeks of each other in early December and mid-January. Both are effective and well attended, but it’s difficult for members to get away for overnight stays twice in such a short timeframe. This change wouldn’t take effect until December 2009 at the earliest.
Lastly, President-Elect Wendell Bullard and I will soon appoint a task force to reexamine the convention format and the inauguration ceremony. We expect the task force to have its work done by next spring.
One more thing: Thank you so much for the cards, flowers, phone calls and prayers I received when I was ill. I feel much better, and I am convinced that your efforts kept my spirits high and allowed Faye and me to remain positive.
Volume 86, Issue 7
NC Association of REALTORS® Inc.
Chartered in 1921
PRESIDENT Danny Brock, Wilmington
PRESIDENT-ELECT
Wendell Bullard, Raleigh
TREASURER
Sandra O’Connor, Greensboro
IMMEDIATE PAST PRESIDENT
Cindy Chandler, Charlotte
REGIONAL VICE PRESIDENTS
Tom Barton, New Bern, Region 1
Sandy Hurst, Jacksonville, Region 2
Grady Watkins, Holden Beach, Region 2
Ashley Barker, Greenville, Region 3
Fen Adcock, Durham, Region 4
Pam Hill, Southern Pines, Region 5
Lou Baldwin, Winston-Salem, Region 6
Sheila Rudisill, Lincolnton, Region 7
David Barnhardt, Charlotte, Region 8
John Byers, Charlotte, Region 8
Glenda Wilson, Lenoir, Region 8
Russell Wood, Asheville, Region 9
Parker Creech, Raleigh, Region 10
Tom Smith, Raleigh, Region 10
EXECUTIVE VICE PRESIDENT
Tim Kent
EDITOR
Kevin Brafford
ASSISTANT EDITOR
Barbara Mathis
ADVERTISING MANAGER
Kristin Miller
BUSINESS OFFICE
N.C. Association of REALTORS® Inc. 4511 Weybridge Lane
Greensboro, NC 27407
Phone: (336) 294-1415
Toll Free: (800) 443-9956
Fax: (336) 299-7872
Insight (USPS 017602) is published bi-monthly by the NCAR Management Corp., 4511 Weybridge Lane, Greensboro, NC 27407. Member subscriptions of $2.89 are covered by annual membership dues. Periodicals postage rates paid at Greensboro, NC.
POSTMASTER: Send address changes to Insight; 4511 Weybridge Lane Greensboro, NC 27407.
Danny R. BrockContact Us: NC REALTORS® staff can be reached Monday through Friday during regular business hours of 8:30 a.m. to 5 p.m. at 800-443-9956 or via email using the person’s first initial and last name@ncrealtors.org. (For example, Tim Kent’s email address is tkent@ncrealtors.org.) Our fax number is 336-299-7872.
Administrative
Tim Kent
Executive Vice President
Bill DePriest
Chief Operating Officer
Denise Daly
Membership Records Coordinator/Bookkeeper
Nicole Garner
Administrative Assistant/
Realfast Support
Diane Greene
Director of Community Outreach
Pam Haire Director of Leadership Development
Sherry Harris
Administrative Assistant
Amanda Johnson Accounting Assistant
Phyllis Lycan
Accountant
Donna Peterson
Executive Assistant to the EVP
Loretta Moody Receptionist
Communications
Kevin Brafford
Director of Communications
Julie Woodson
Director of Public Affairs
Samantha Ashburn Web Site Coordinator
Barbara Mathis
Communications Specialist
Legislative Rick Zechini Director of Government Affairs
David McGowan
Political Specialist
Mary Catherine Green
RPAC Manager
Emily Lynch Governmental Affairs Assistant
Marketing and Business Development
Anne Shoemaker Director of Marketing and Business Development
Katie Sopcik
Assistant Director of Marketing and Business Development
Kristin Miller Marketing Specialist
Professional Development
Chris Rhodes Director of Professional Development
Ellie Darling Professional Development
Asstistant Director
Jennifer Robson
Professional Development Assistant
Legal
Will Martin General Counsel
Monica Huckaby Legal Assistant
Events
Mandy Lowe Events Director
Keri Epps Meeting Planner
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Money Matters
Housing Opportunity
By Kevin Brafford Editor
During the past six weeks or so, our staff has received dozens of compliments about our new magazine. From the design to the concept to the name, praise has been unanimous.
But honesty compels me to confess: You’ve been thanking the wrong people. While we’ve signed off on the look and feel of Insight, the one person deserving of the accolades … well, her name is nowhere to be found in these pages.
Paige Happel Friddle likes it that way. When NCREEF was looking to develop a logo some 10 years ago, Paige was one of three graphics designers considered. “She blew them away with her presentation,” Chris Rhodes remembers. “She came in with a bunch of designs and ideas at the initial meeting that totally surprised everyone in that she already had an idea of what they wanted. It was a slam dunk.”
A few years later, the UNC-Greensboro graduate (she majored in marketing/management and minored in clothing and textiles) was added to our payroll as a
creative consultant, and we’ve been the better for it since. The massive re-branding of the North Carolina Association of REALTORS® that has been unveiled during 2007 has been Paige’s handiwork. And while a clean, professional logo is the centerpiece, the amount of collateral material that required a new look – and thus her considerable time and energy – would boggle the mind.
I’ve been fortunate in more than 20 years of newspaper and magazine publishing to be surrounded by extremely talented people – photographers, designers and writers. The best are marked by two defining characteristics: they’re creatively brilliant and maddeningly quirky. They also typically are large on ego and short on patience. Paige is the rarest of combinations – brilliant and patient.
We aren’t Paige’s only client, but I’d like to think we’re her favorite. At least that’s my mindset when I ask her, ever so gently, if she “can do one more little favor” for us.
Bless her heart, she hasn’t once said no.
September 16-19
October 1-4
October 15-18
November 5-8
November 27-28
December 3-4
December 6-7
December 10-13
January 7-10
January 16-18
February 11-12
February 18-21
March 10-13
GRI 100
GRI 200
RLI
CRS
GRI 200
Myrtle Beach
Sunset Beach
Raleigh/Durham
Asheville
Greensboro
Greensboro
Greensboro
Charlotte
Greensboro
Durham
Greensboro
Charlotte New Bern
(Learn more about educational programs on page 28.)
Name: Location: Firm: Local Association:
I’m originally from the Chicago area. I love the city. It’s very cold in the winter, but the summers are wonderful. I met my husband, Ray, at one of Chicago’s inland beaches the summer before my freshman year at Northern Illinois University in DeKalb, while he was attending the National School of Chiropractic in the city. I graduated with a journalism degree and we were married the same year.
I had a wonderful upbringing. My father was a commercial artist. He did a lot of woodworking, as well as oil paintings. My father died when I was young, so I didn’t get to know him as much as I would have liked to. My mother was a REALTOR® and the one who really motivated me throughout my childhood. I have one older brother who is still my best friend. When we were younger, we loved playing street baseball. We would go out in the streets and play ball after dinner with all the children in our neighborhood. We would always have so much fun. I really had a wonderful childhood –I’m fortunate to have such special stories.
Growing up, I really wanted to be a horseback rider, or even a rodeo rider. I started wanting to ride horses as soon as I could talk. When I was 12, I started taking lessons. My mother would drive me an hour and a half both ways to a stable where I could ride. I still ride horses all the time; it really is my passion. I am fortunate to be able to ride right up from where I live. The greatest part of it has been when clients bring their children to the office – they’re bored because all they do is look at houses all day. I try to plan at least one day for them where the children can go to the barn and catch a ride.
My husband and I were never in any place for very long. I don’t think we ever lived in a house for more than five years before moving here. I was a stay-athome mom while living in New Orleans, and I loved it there. It was great, especially prior to the hurricane. It seemed like everyone always thought something like
Linda Vaitsas
Greensboro
Allen Tate North Elm
Greensboro Regional REALTORS®
Katrina could happen, but we were very lucky for the five years we lived there.
My family and I settled in Greensboro when my husband was transferred while working for HoffmanLaRouche, a large pharmaceutical company, in the diagnostic division. He is retired now and also working as a REALTOR®, which is great because we can brainstorm together.
I didn’t plan on becoming a REALTOR®, and I believe my mother is the reason I finally did. Through my mother I was able to see that in this field, you really don’t have to sell. I’ve been a REALTOR® for 22 years now, and I’m so glad I am because I love my job, I love the people I work with, and I really can’t remember a bad client. People talk about these terror jobs, but I really can’t say I’ve ever had one.
I am naturally a very shy person, which only my best friends would know about me. A lot of times, when I mention being shy, my other friends just don’t believe me. I’ve learned over the years to compensate, and the only time you can really tell I’m shy is when I am in a big group of people. I am much better one on one. Of course, once you have children, you learn to go in and talk to teachers and defend them
that’s when you’re able to forget about being shy.
I have a short attention span, and I’m very laid back. This drives my Type A, practical and very methodical husband crazy sometimes. Usually, we really balance each other. Being laid back has worked against me, because I was not a huge disciplinarian when my children were growing up. They knew they could tell me anything, because they wouldn’t get in trouble.
Twenty years from now, I’ll be on a beach somewhere. My husband and I are looking into eventually moving to Costa Rica or just settling down at a nearby beach. We haven’t decided just where yet, but it’ll be somewhere that I can ride horses.
A Homes4NC Dream House groundbreaking was held August 14 in Greensboro at Holden Crossing, an effort made possible by Wade Jurney Homes, the Greensboro Regional REALTORS® Association (GRRA) and the NC REALTORS® Housing Opportunity Foundation.
As a Dream House builder, Wade Jurney Homes will donate a portion of the proceeds from the sale of the house to Homes4NC so that it can improve affordable housing opportunities across the state.
When completed, the sales price for the Dream House will be in the $150,000 to $160,000 range, well below the average cost of a home in the Triad. According to GRRA, the average-adjusted sales price of an existing home in the city at the end of the second quarter was $192,041. “I love being a home builder,” said Jurney, who was approached with the idea from Angie Kent, a REALTOR® with Allen Tate. “Helping people to achieve the American dream of homeownership is part of our mission statement and our overall way of doing business.”
Guilford County Commissioner and NC Real Estate Commission President Skip Alston, City Council Member Sandy Carmany, state Rep. Laura Wiley, GRRA President Kevin Green, and Homes4NC Vice President John Newman.
Dennis Miller, director of sales and marketing for Wade Jurney Homes, has two hands firmly on the shovel at a Dream House groundbreaking on August 14 in Greensboro. Also pictured (from left): John Newman, Kevin Green, Sandy Carmany, Laura Wiley and Skip Alston.
“We’re excited to show what can be done when REALTORS®, builders, lenders and others in the private sector come together to address the affordable housing crisis we face,” said Homes4NC President Norma Harless, who could not be present. “Not only will the Dream House provide affordable housing for one family in Greensboro, but the proceeds will be used to help families throughout North Carolina with their housing needs.”
Among those attending the groundbreaking were
Anne Shoemaker, director of marketing and business development for the NC Association of REALTORS®, recently graduated from the Institute for Organization Management (IOM).
Institute, as it’s known, is a four-year, nonprofit leadership training program held annually for one week at Villanova University near Philadelphia. IOM recognition is awarded after completion of 96 hours of course instruction in association, chamber and nonprofit management. Institute focuses on enhancing participants’ organizational management skills while providing excellent networking resources.
In her role at NC REALTORS®, Shoemaker is primarily responsible for marketing the association to the public and developing and maintaining relationships with companies interested in sharing their products and services with the association's members.
Affordable housing is a key issue for North Carolinians and citizens across the nation. According to the 2006 “State of the Nation’s Housing” report issued by the Joint Center for Housing Studies of Harvard University, one in three U.S. residents spends more than 30 percent of his or her income on housing, an amount that is considered unaffordable. One in seven spends more than 50 percent.
Donna Harnett of Durham and Stephanie Walker of Kill Devil Hills were recently selected to participate in the inaugural class of the National Association of REALTORS® Leadership Academy.
The Leadership Academy is a nine-month, fivestate training and development program that is structured around national meetings and designed to groom future NAR leaders. Participants must make a financial and time commitment and are expected to complete a class project and various assigned readings.
Harnett and Walker are past graduates of the NC REALTORS® Leadership Academy. They were selected from a pool of qualified applicants nationwide. “We’re both proud and thrilled for Donna and Stephanie,” says association President Danny Brock. “And what an honor it is for two of our folks to be chosen for this inaugural class.”
The NC Association of REALTORS® is one of the largest associations in the state, so being recognized as an exceptional REALTOR® is quite an honor.
That’s the case for the 2007 Rising Star Award winners, six recipients from around the state who have achieved acclaim despite having been in the business of real estate for five years or less.
They may be rookies by definition, but their resumes are proof that these REALTORS® know what it takes to be successful. By serving on multiple committees for their local, state and national associations as well as being active in the community, these people have earned their stripes: Amy Hedgecock, Keith Whitaker, Jeffrey Yetter, Wendy Butler, Amy Klingensmith and Mary Ann McCarthy.
Some of the achievements of each are noted below:
Amy Hedgecock, High Point Regional Association of REALTORS®. With only two year’s experience as a REALTOR®, Hedgecock has exemplified leadership potential through her service as vice chair of her local board’s Property Management Council. She is a member of the Triad Women’s Council of REALTORS®, NC REALTORS®’ Property Management Division, Cultural Diversity Committee, Governmental Affairs Committee, and Equal Opportunity and Cultural Diversity Committee. She also serves as member-at-large to the Executive Committee for the High Point Citizens Police Academy Alumni Association.
Keith Whitaker, Burke County Board of REALTORS®. Since beginning as a REALTOR® three years ago, Whitaker is already leading his association as president of the Burke County Board of REALTORS®. Additionally, he has served on three other committees and served as president-elect for his local board for the 2006-2007 year.
Jeffrey R. Yetter, Greensboro Regional REALTORS® Association. In just two years, Yetter has continually shown his dedication and willingness to enhance the reputation of REALTORS® by actively pursuing educational and leadership opportunities offered through his association.
Wendy Butler, Winston-Salem Board of REALTORS®. Since becoming a REALTOR® a little more than four years ago, Butler’s local board has noted her dedication to serving the community and local board through her service as a member of the Community Service Committee since 2003 and her current position as vice
chair. She has chaired her local board’s Sponsorship Committee and served on the Social, Political Affairs, and Membership Development Committees and is involved in several community activities.
Amy Klingensmith, Greenville-Pitt Association of REALTORS®. A REALTOR® since April 2004, Klingensmith has dedicated her time and energy to her local board, particularly in service to RPAC. She currently serves as RPAC chairman and has been influential in helping the group successfully reach its goal for the year.
Mary Ann McCarthy, GRI, CRS, Brunswick County Association of REALTORS®. A REALTOR® for five years, McCarthy has served on the Strategic Planning Committee, Professional Standards Committee, and on the Board of Directors for her local board as well as in several other activities. She has pursued and received several educational designations.
Kristin Miller joined the NC Association of REALTORS®’ staff on July 23 as a marketing specialist. A native of Elon, N.C., Miller spent the previous two years as an administrative assistant at MarketLinx, a real estate information technology company based in Greensboro.
In her new role, Miller assists Director of Marketing and Business Development Anne Shoemaker and Assistant Director of Marketing and Business Development Katie Sopcik in soliciting non-dues revenue from third-party vendors. Specifically, Miller will sell advertising in Insight magazine and manage the REALTOR® Partners Program.
Miller is a 2005 graduate of Appalachian State University, where she earned a bachelor of science in communications and public relations with a nonprofit concentration. “We’re excited to have Kristin be a part of our very capable marketing and business development team,” says Tim Kent, executive vice president. “In just a few short weeks, she’s already had a positive impact.”
Following record voter turnout last year, members of the NC Association of REALTORS® again will have the opportunity to elect their 2008 leaders from any location with access to the Internet.
As always, the election takes place in conjunction with the association’s annual Convention & Expo, which is set for Myrtle Beach, S.C. This year’s election will be held from noon to noon on September 15-18.
Your confidential login and password will be emailed to you on Monday, September 10. Please note that, for security reasons, this is not the same login and password that you use for the NC REALTORS® Web site or for forms. You should safeguard this login info and have it available when you are ready to vote.
Voting reminders (with login information included a second time) will be emailed once the polls open. If you do not receive your login info on September 10, please
check your spam filter. For security reasons, members of the NC REALTORS®’ staff will be unable to provide this information to you over the phone.
Online polls will be open 24 hours a day from noon to noon on the above-mentioned dates. Voting polls also will be available at the Convention & Expo during the following hours only:
Sunday, September 16
Monday, September 17
Tuesday, September 18
1 p.m.-5 p.m. 9 a.m.-5 p.m. 8:30 a.m.-noon
If voting at the convention, you still must have your dedicated login and password to vote. Staff cannot provide this information.
To vote online, visit https://eballot3.votenet.com/ncar/login.cfm or click on the appropriate link at www.ncrealtors.org. Make sure your voice is heard!
An estimated 28 percent of REALTORS® nationwide do not have any health insurance, according to the National Association of REALTORS®. Lack of coverage is also a problem here at home in North Carolina. Health insurance is an important issue among our membership, so much so that finding relief for members was given priority in the 2007 NCAR Strategic Plan. Therefore, the REALTOR® Partners Committee formed a task force consisting of John Carroll, Jo Ann Doyle and Vernon Luffman to research health insurance on behalf of membership.
With the assistance of the task force and the REALTOR® Partners Committee, the Service Corporation Board of Directors recently added health insurance to the REALTOR® Partners Program. Three insurance options are now available, in fact, to help our members get the coverage you need.
The first insurance option is a guaranteed-issue limited benefit medical plan called “TransChoice” offered through our new REALTOR® Partner, Central Insurance Advisers. Guaranteed issue means that there are no health or age questions asked. The plan rates are the same for everyone, and coverage is provided without any deductibles, co-pays or networks. Whether you work full time, part-time, seasonally or 1099, TransChoice is available to all members, staff and dependents.
Limited benefit medical plans offer the health insurance coverage many people need: doctor visits, X-ray and lab work, prescription drugs and limited hospitalization. The plan can serve as gap coverage for members who have high deductible insurance plans and want to reduce exposure to high claims. Although it is not a major medical plan, it can be important coverage for those who have no health insurance. Central Insurance Advisers is also able to offer other insurance options to complement the limited benefit plan and fulfill coverage needs. Mark your calendar – the open enrollment for all members began Sept. 1 and ends six weeks later on Oct. 15.
The second option is provided through current dental insurance partner Fidelity Capital Management. Fidelity will now also offer Blue Advantage individual major medical health insurance to members. Members
who sign up for Blue Advantage through Fidelity will benefit from having a broker working on your behalf. Fidelity Capital Management offers the major medical plans you need with the personalized customer service of a small firm.
The third option is Blue Cross/Blue Shield insurance for office groups and their employees. The Blue Cross/Blue Shield group plan through Fidelity Capital Management offers competitive prices and includes a convenient employee’s benefits intranet site. The intranet will be customized for your office and brings all insurance and benefit information to your employee fingertips. From dental, individual and group insurance, Fidelity Capital Management continues to provide customized solutions for NC REALTORS®’ insurance needs. NC REALTOR® members can access more information regarding these health insurance options on the member intranet at www.ncrealtors.org. The REALTOR® Partners Program strives to offer helpful and cost saving benefits for members. We hope these new program additions will help a large portion of our membership with the health coverage you need.
AS PARTIES GO, THIS ONE’S GOING TO BE BIG. AN ESTIMATED 1,200 NORTH CAROLINA REALTORS® ARE EXPECTED TO CONVERGE ON MYRTLE BEACH, S.C., TO FEAST AND FROLIC AT THE 2007 CONVENTION & EXPO THAT’S JUST A FEW DAYS AWAY.
If you haven’t registered, what are you waiting for? You’re best advised to do it online by visiting www.ncarconvention.org or you can call the NC Association of REALTORS®’ office at 800-443-9956 for assistance. You can also register via fax by using the form on Page 20. But here’s what you need to remember: No registrations will be accepted after Friday, September 7, so please act quickly.
“I can promise you that everyone will have a memorable experience and a great time,” says Danny Brock, who as 2007 NC REALTORS® president will serve as host for the proceedings on September 16-19. “I’ve spent my life in the Wilmington area, so Myrtle Beach and the Grand Strand hold a special place in my heart.
“I’m not necessarily the best dancer, but I love to dance. I’m not necessarily the best speaker, but I love to talk. One thing I am pretty good at is having a great time, and I guarantee you that I’ll be on top of my game at our Convention & Expo.”
There’s something for everyone on the docket, ranging from a first-time attendee’s orientation and reception to the special-invitation Silver Service Luncheon that honors REALTOR® members of our association of 25 years or more. Your $195 registration fee covers all convention program activities, excluding the Tuesday afternoon golf tournament at historic Myrtlewood Golf Club.
More than 15 top-notch education sessions are in the offering, including those taught by Bill Gallagher and Zan Monroe, the highest-rated speakers from last year’s convention in Savannah. And you’ll be educated on at least two other fronts – from nationally acclaimed artist and speaker Erik Wahl (at Sunday’s Opening Session) and from Campbell Brown (Wednesday’s Closing Session), the much-in-demand TV newswoman who recently left NBC for CNN in a highly publicized move.
Want more entertainment? There’s the dance party on Monday night, featuring famed North Carolina band Liquid Pleasure, and the Tuesday afternoon pool party highlighted by a performance by The Embers, a legendary band that’s played to hundreds of thousands of adoring fans through the years.
And don’t miss the Expo, as more than 130 exhibitors showcase their products and services within the halls of the Myrtle Beach Convention Center. From technology tools to prospecting software to closing gifts to jewelry, our Expo promises to have it all.
Of course, you’ll have some free time, and there is no shortage of things to do along the Grand Strand. A quick bit of research revealed that there are more than 100 festivals and events taking place in Myrtle Beach during 2007, ranging from the National Shag Dance Championship Finals (sorry kids, it was in March) to the fifth annual Oyster Festival on November 10. If you’re up to arriving at our convention a day early – on Saturday the 15th – you can take part in Beach Sweep 2007. The following day, there is what’s advertised as South Carolina’s Largest Garage Sale. (For details, visit www.GrandStrandEvents.com.)
Twice in the past five years, the Travel Channel has named Myrtle Beach one of America’s Best Beaches. When Golf Digest magazine listed its picks for America’s Greatest Golf-Home Towns in June 2006, Myrtle Beach was No. 1 – a ranking based on number and quality of courses, playable days, cost of living, off-course diversions, home prices and other criteria.
With an average September air temperature of 84 degrees and a water temperature of 80 degrees, it’s a perfect time to play in or around the water. Farther inland, Broadway at the Beach features more than 100 specialty shops, restaurants and bars – and it’s where most REALTORS® likely will spend at least some of their Tuesday night.
“The 2007 Convention & Expo will not only be fun, but it’ll be extremely informative and educational,” says Brock. “You’ll be able to network with fellow members of our profession and pick up some ideas that will help you become more successful. You’ll make new friends and re-establish relationships with old friends. I don’t know of anyone who hasn’t been to our convention that wasn’t the better for it.”
>> The first inhabitants of what would become the Myrtle Beach area were American Indians. Many geographical names can be attributed to these Indians, most notably the Waccamaw River and Winyah Bay.
>> Pirates played a role in Myrtle Beach’s history, thanks to coves and inlets tucked along the coast that served as havens in the 1700s. One of the most feared was Edward Teach, better known as Blackbeard.
>> Once called New Town, Myrtle Beach acquired its name in 1900 by way of a contest. Mrs. F.G. Burroughs, a member of a prominent family, chose the name because of the many wax myrtle shrubs growing along the coast.
>> In 1927, the year Babe Ruth hit 60 home runs for the New York Yankees, Myrtle Beach’s first golf course opened. The Ocean Forest Club later was renamed Pine Lakes International Country Club.
>> Another notable property was the grand Ocean Forest Hotel, which opened in 1930 as part of a luxurious resort called Arcady. The hotel was a center of high society in Myrtle Beach for decades. It was razed in 1974 to make way for new development.
>> The Intracoastal Waterway opened in 1936, the same year that Myrtle Beach State Park (South Carolina’s first state park) opened. Two years later, the city was incorporated; its motto is “First in Service.”
>> The moniker “Grand Strand” was coined in 1949 by newspaper columnist Claude Dunnagan. The Grand Strand encompasses 60 miles of beaches and communities from the North Carolina/South Carolina border south to Georgetown.
>> After steady growth since the 1960s and a building boom in the 1990s, the number of Grand Strand golf courses peaked at 120 in 2003. Some have closed in the past four years and the land redeveloped.
>> Speaking of development, it skyrocketed in a decadelong period beginning in 1986. That was the year The Carolina Opry, the area’s first major entertainment theater, opened. Three years later, Barefoot Landing opened along the Intracoastal Waterway (in North Myrtle Beach), and Broadway at the Beach opened in 1995. On a sad note, in 2006, after 58 years of operation, the Myrtle Beach Pavilion Amusement Park closed.
(Source: Myrtle Beach Stay-And-Play Pocket Guide, 2007)
Below is a partial listing of meetings and events. For a complete Convention & Expo schedule, visit www.ncarconvention.org/schedule.cfm
Sunday, September 16
Convention Registration Open – Sponsored by: Systems Engineering, Inc.
Expo Open
Cyber Café Open – Sponsored by: Lowe’s Home Improvement
Welcoming Refreshments – Sponsored by: AT&T
Voting Polls Open
First Time Convention Attendees’ Welcoming Orientation
Opening Session with Keynote Address by Erik Wahl
Opening Evening Reception
Monday, September 17
Early Bird Session – Zan Monroe – “Stories of Uncle Adrian”
Convention Registration Open – Sponsored by: Systems Engineering, Inc.
Voting Polls Open
Early Session – Stefan Swanepoel – “Trends Changing the Future of the Real Estate Industry” Session Sponsor: Advanced Access
Early Career REALTOR® Education Session – Zan Monroe – “Build a Real Estate Business for Life”
General Education Session – Pat Zaby – “You’re Kidding...I Didn’t Know it Would do That!” Session Sponsor: Systems Engineering, Inc.
General Education Session – Tim Kent & Rick Zechini – “Stop the Home Tax Campaign. What Happened, How and Why”
Commercial Education Session – Cindy Chandler – “What Every Residential Agent Needs to Know About Commercial Real Estate”
Expo Grand Opening & Lunch
Expo Open
Cyber Café Open – Sponsored by: Lowe’s Home Improvement
General Education Session – Mike Selvaggio – “Point of Difference”
Sponsor: Pearl Insurance
General Education Session – Chris Bird – “Effective Money Management for Today’s REALTOR®”
Association Executives Education Session – Stefan Swanepoel – “REALTOR® Association: Extinction or Evolution”
Early Career REALTOR® Education Session – Pat Zaby – “Your Prospecting isn’t Working...Fix It!”
General Education Session – Mike Selvaggio – “A Visit with the Script Doctor”
General Education Session – Chris Bird – “Solid Investment & Retirement Strategies for REALTORS®”
General Education Session – Frank Mears – “Good Ethics Equal Good Business”
Appraisal Education Session – Mel Black – “Appraiser Liability”
Dance Party featuring Liquid Pleasure – Sponsored by: Systems Engineering, Inc.
Tuesday, September 18
Convention Registration Open – Sponsored by: Systems Engineering, Inc.
Voting Polls Open
Expo Open
Cyber Café Open – Sponsored by: Lowe’s Home Improvement
Bonnie Boyd – “Home From Work” – Sell More Houses with EAH
Sponsored by: Homes4NC
Early Career REALTOR® Education Session – Frank Mears – “Getting to Yes”
General Education Session – Bill Gallagher – “Prospecting Techniques that Work”
Golf Tournament – Myrtlewood Palmetto
Pool Party featuring The Embers – Sponsored by: Sun Trust Mortgage Broadway at the Beach 9:00 a.m. - 11:00 a.m.General Membership Meeting/Closing Session with Keynote Address by Campbell Brown
Wednesday, September 19
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Sheraton Myrtle Beach Convention Center Hotel $159 per night
Myrtle Beach Marriott Resort at Grande Dunes $159 per night
The Breakers Resort Group rates starting at $129
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“Local REALTOR® Attacked and Robbed on the Job” – that was the lead story in a local news broadcast in Sacramento in early June. It was sobering, but not necessarily surprising, news.
Every day, REALTORS® put themselves in positions where they can be victims of dangerous crimes. That’s why five years ago NAR implemented an annual Safety Week promotion, which this year is September 9-15.
Arising from a need for REALTORS® to know how to protect themselves in dangerous situations, NAR is providing REALTORS® with a Safety Week Kit that will work to educate and bring awareness to the realities that face REALTORS® today. Unlike recent years, members will be offered an online safety course to be delivered through REALTOR® University as well as a revised and updated NAR safety video with tips on minimizing risk on the job, at home or on the road.
In addition to Safety Week, the NC Association of REALTORS® Real Estate Safety Council, along with the North Carolina Real Estate Commission, will be issuing a new edition of the North Carolina Safety Guide in the coming months. This second edition of the popular guide will focus on REALTORS® in our state who have been put in harm’s way on the job.
Connie Corey, president of the NC REALTORS® Real Estate Safety Council, notes that the Safety Guide focuses primarily on REALTORS® being aware of their surroundings at open houses, when showing a home, and when dealing with clients in general. “Everyone’s intention is not to purchase a home,” Corey says. “It is important for REALTORS® to know how to protect themselves.”
For more information on the national initiative, visit www.REALTOR.org/Safety.
Melvin L. “Skip” Alston of Greensboro has been elected chairman of the N.C. Real Estate Commission. Marsha H. Jordan of Lincolnton has been elected vice chairman.
Alston is currently serving his fourth four-year term as a member of the Guilford County Board of Commissioners and has been a member of the N.C. Real Estate Commission since 2003.
Jordan entered the real estate industry in 1986 and is the owner of Apple Realty. She currently serves as president-elect of the North Carolina Real Estate Education Foundation (NCREEF). She also is a graduate of the REALTORS® Institute and is a Certified Residential Specialist.
Guy McCook, a longtime NC REALTORS® leader who is with Hasty Realty in Laurinburg, has been named to the 2008-09 RPAC Trustees Committee of the National Association of REALTORS®, announced Chairman Larry Edwards.
Other members of the RPAC staff at the national level include Chad Curry, Brooke Roth and Shannon Burke, each of whom will work closely with incoming NAR President Dick Gaylord.
Members of the RPAC staff report to Jerry Giovaniello, the national association’s chief lobbyist and senior vice president of government affairs. They also work closely with Walt Witek, vice president of government affairs and the head of NAR’s RPAC fundraising efforts.
Randall Barnett of The Buyers Agent in Asheville is one of 10 finalists for REALTOR® Magazine’s Good Neighbor Award. Of the 10 national finalists – chosen from a record 320 nominees – five will be selected and honored at the NAR Conference & Expo in Las Vegas on November 14.
Each of the five winners will receive a $10,000 grant for the charity of their designation, while the five
honorable mentions will each receive $2,500 grants for their causes. This is the eighth year of the Good Neighbor Awards program, which recognizes outstanding REALTORS® who volunteer time and energy to improve the quality of life in their communities.
Of the nine other finalists, two are from the South: Tricia Carlisle-Northcutt of Grayton Beach, Fla., and MaliVai Washington of Ponte Vedra Beach, Fla.
By Julie C. Woodson Director of Public Affairs
Better city streets, neighborhood improvements and affordable housing are key components of any thriving community, including the booming city of Charlotte.
To help the city keep up with its pressing infrastructure needs, local leaders put Community Improvement Bonds on the ballot last year. And because it’s always looking for ways that the local REALTOR® community can step up and make a difference, the Charlotte Regional Association of REALTORS® (CRAR) was eager to educate local voters about the area’s significant needs and how bonds would help.
CRAR applied for and received funding from the NC REALTORS® Issues Mobilization Fund for its public education effort. Ultimately, because of the support of CRAR, the Charlotte Chamber and other business involvement, citizens overwhelmingly approved the bonds.
The NC REALTORS® Issues Mobilization Fund is a valuable tool for local associations seeking quick impact on public education efforts for a particular issue. Resources are requested through an application process and reviewed by a committee of volunteer leaders who consider the proposed project’s impact on homeownership in the local community and potential impact statewide.
“Each individual community has its own unique set of political issues,” says Elizabeth Barnhardt, CRAR government affairs director. “What goes on in Charlotte is different than what goes on at the coast and in the mountains. Issues Mobilization provides all of us access to funds that allow us to act and react to situations in our local communities.”
David McGowan, the political specialist for NC REALTORS® since 2005, works closely with Issues Mobilization efforts and is on the road frequently assisting with these grassroots projects. He has observed firsthand the significant impact its funding has had on local initiatives.
For example, Issues Mobilization resources were used by the Avery-Watauga Association of REALTORS® in 2005 to help finance an issue campaign targeted against a far-reaching development moratorium, plus a burdensome steep slope development ordinance.
“The campaign was extremely successful in educating members of the general public about the proposals from the Boone City Council as well as driving turnout to the public hearing,” McGowan says. “In a show of force, local REALTORS® were able to prevent implementation of the moratorium and were able to
gain a seat at the table regarding the development of a steep slope ordinance.”
In yet another success story, the Raleigh Regional Association of REALTORS® used Issues Mobilization funding to conduct a study and an issues advocacy campaign relating to development impact fees in the City of Raleigh. The study and campaign were both successful in persuading the Raleigh City Council to lower the proposed fee amount. Impact fees were already assessed in Raleigh, and this campaign was geared toward keeping them at a reasonable level.
Those successes and others are attributable, Barnhardt believes, to a true partnership between the state and local associations. “Each community is unique regarding the issues it faces before its local government,” she says. “Issues Mobilization funds allow each to have access to an ‘emergency fund’ level to help support REALTOR®-friendly issues or fight those issues detrimental to our industry.”
Funds are also used for statewide public education efforts, most recently the “Stop the Home Tax” campaign. Those efforts resulted in the General Assembly giving counties the authority to adopt only a .4 percent transfer tax – significantly less than the original 1 percent that had been discussed. REALTORS®’ efforts also defeated a statewide tax (the deed stamp tax increase) and ensured that the transfer tax is subject to a local referendum.
Further, the campaign heightened awareness of the REALTORS®’ focus on issues impacting homeowners and housing affordability, and reinforced the REALTORS’® powerful presence in the halls of the General Assembly.
In 2005 and again this year, the Issues Mobilization Committee funded public awareness initiatives to inform concerned citizens and parents about the Save our Summers (SOS) campaign. SOS was successful in persuading legislators to pass a bill that would require the start of public school to be later in the summer to maintain a more traditional school calendar for elementary and secondary schools. The objective is to preserve the summer months for outside-the-classroom childhood and family learning experiences.
So, whether it’s local public education projects or statewide initiatives, the NC REALTORS® Issues Mobilization Fund plays an active role in impacting issues at all levels. It’s a valuable resource, and one that local associations are encouraged to use. For more information, contact McGowan at 919-856-9155 or dmcgowan@ncrealtors.org.
By Brant Hinckley Sales Manager and Financial Services Professional MassMutual’s Hinrichs Flanagan Financial
Retirement planning” has become a popular phrase in recent years – and rightfully so. Most certainly, everyone has their own specific expectations and dreams about retirement, but how does your current plan stack up against your longterm objectives?
Today, more than ever, planning for retirement is a necessity. Proper planning and follow-through can help you avoid shortfalls in meeting your income needs and help assure you of a smooth, secure transition from the world of work to the world of retirement.
Planning ahead means setting goals and deciding how they will be met, within the framework of a changing financial picture. Many retirees find themselves torn between balancing a satisfying lifestyle with one that lacks many of the comforts that make life easier. In the absence of a solid financial foundation, you may be faced with some hard choices over the course of your retirement years. A successful financial strategy carried out faithfully will help soften many of them.
Unfortunately, time is a luxury only available to younger individuals. Therefore, as retirement approaches, there are some key points you should take into consideration in order to best position yourself for an enjoyable retirement:
1) Building Foundations.
als may be able to afford taking greater risk with more aggressive investments. However, regardless of your age, you should always make a concerted effort to maximize contributions to your 401(k), Solo 401(k), IRA or other retirement savings vehicle. In addition, it may be more prudent to gradually shift your retirement assets to more conservative, income-producing investments as you approach retirement. An asset-preservation strategy may be especially difficult for those who begin retirement planning later in life. In such situations, it is particularly crucial for investments to align with personal risk tolerance.
2) The Longevity Game. changing. It’s not uncommon for someone to spend one-third of his or her lifetime in retirement.
Therefore, your retirement assets will need to last longer and be able to accommodate cost-of-living increases. Consider your retirement life span – if it is 20 to 30 years – that may indicate a need for some long-term growth investments to be included in your portfolio. And you may still find yourself in the workforce in some capacity, if you need greater income.
3) Main Street or Park Avenue? Some individuals are under the impression that they will be able to live the same type of lifestyle they enjoyed during their working years. It’s true – some will. However, it’s important to keep things in proper perspective. In reality, you may have to downscale living arrangements and unnecessary expenditures to ensure your retirement assets will be sufficient over a long period of time.
Regardless of how close you are to retirement, it is important to keep realistic goals and expectations. Factors such as how much you have already accumulated, or how far financially you are from your objective, should play a key role in determining your course of action. A review with your financial professional
When Bob de Camara signed up to earn his Council of Residential Specialist (CRS) designation, he knew that he’d come away from the experience with a new credential to list after his name and a sharpened knowledge of the real estate industry. What this broker-owner of Prudential Mountain Properties in Boone didn’t realize was the sheer prowess of the marketing machine that he would soon become exposed to as a REALTOR®, and then later as the secretary of the North Carolina chapter of CRS (a position he currently holds).
“I made friends on a national level while I was sitting in those classrooms,” says de Camara, whose firm has two offices and 12 agents. He says, for example, that networking with other CRS members recently translated into the $600,000 sale of two condos. “And just last week I got a referral for a $1.5 million commercial listing, simply because my name appeared in the national CRS directory,” says de Camara. “If I do nothing else but list that property, the commission will pay for a lifetime membership for me – and my kids – in the CRS organization.”
de Camara, who also holds the GRI, ePro, CRB and RRS designations, says the professional development that he’s invested in since getting into real estate in 1999 has also served as a valuable educational tool that can’t be obtained through reading or handson experience. “There’s simply no substitute for professional development in this industry,” says de Camara, who adds that his career would not have advanced to its current level without the additional education and credentials.
“My development progressed conventionally starting with the GRI and working through to the CRS, and to the ePro,” says de Camara, who is currently preparing to take the CCIM series for commercial REALTORS®.
“Then as my company grew, I needed the skills to manage and lead the staff that we had, which then led to the CRB and, eventually, to the RRS for the resort industry.”
Knowing that many real estate professionals are reluctant to dedicate the time or money required to earn their designations for fear that the return on investment will be minimal or nil, de Camara says agents should first get their sales volume to a point where taking time off and investing the money in such goals is feasible. Once there, he says licensees who devote 10 percent of their time to honing those skills will receive the most out of their investment.
“The big question for agents is always, ‘How will I ever do this, and survive being away from my workflow for two to four days … not contributing to the cash flow?’ “ de Camara says. “The thing is, you always manage to make it, and to come back stronger, more educated and ready to work even harder. You’ll be able to do more in less time, and raise your output ratio as a result.”
Few would argue the fact that the real estate market has become increasingly competitive over the last few years. Not only are there more agents out there scouting around for
buyers and sellers, but there are also market issues to contend with as the entire nation swings back to a more normalized selling environment. No longer simply “taking orders” as they did during the market boom of the late-1990s and early2000s, real estate agents now have to differentiate themselves to get the listing or attract the buyer who is ready to purchase.
Having watched the North Carolina Association of REALTORS®’ membership increase from 16,000 in the early 1990s to more than 43,000 today, Chris Rhodes, director of professional development, says the need for continuing education and designations has increased significantly for agents who want to grow their businesses to their maximum potential. “Even though the market is not quite as strong as it has been in some areas, it hasn’t stopped the influx of new and younger agents into the business,” says Rhodes. “With that increase in membership comes an increased demand for postlicensing training.”
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Significant payoffs come for the time and money spent on professional development
Rhodes points to the GRI (Graduate REALTOR® Institute) as a good starting point for agents looking for solid professional development opportunities. Developed for members of the National Association of REALTORS® and offered through state associations, the GRI program comprises 90 hours of coursework on topics such as marketing and servicing listed properties and real estate law.
“The GRI is the first stop for a newly licensed agent,” says Rhodes, who adds that the program is geared to those who have been in the business for one to three years.” The coursework includes topics like selling a home, financing options, property management and other key issues. “It helps you hone your skills and become better at what you’ve already learned in the pre-licensing class, which, although quite effective, doesn’t prepare you for the things you’ll face in everyday real estate.” adds Ellie Darling, the association’s assistant director of professional development.
To earn their GRI designations, REALTORS® attend three different series of courses, each of which takes four days. The NC Association of REALTORS® rotates the GRI schedule (it’s held at various locations around
GRI - The Graduate REALTOR® Institute
A commitment to a strong educational foundation www.ncrealtors.org/ncreef/GRI.pdf
CRS - The Certified Residential Specialist Advanced training in listing and selling, plus production www.ncchaptercrs.com
CRB - The Certified Real Estate Brokerage Manager Brokerage and real estate business management specialization www.crb.com/requirements
SRES - The Senior Real Estate Specialist
A desire to serve and support maturing clients www.seniorsrealestate.com/sarec
ABR - The Accredited Buyer Representative Excellence in buyer representation www.rebac.net/Home.aspx
ALC - The Accredited Land Consultant
A premier land-brokerage designation www.rliland.com
the state) so that members have an opportunity to complete the program at their own pace. Attendees have five years to complete the requirements, although Darling says the agent who is willing to put the time into the travel and coursework can finish it in three to four months.
The next logical step is the CRS, says Rhodes. The highest designation awarded to sales associates in the residential sales field, the CRS designation is currently held by more than 39,000 licensees across the nation and recognizes professional accomplishments in both production and education. To earn the designation, agents must have a certain number of sales under their belts, and attend a series of classes. “If the GRI is the master’s degree of real estate,” says Darling, “then the CRS is the doctoral degree.”
gave her many of the “basic tools for running a business” that she was seeking at the time.
The participants of the NC REALTORS® Leadership Academy recognize the importance of professional development. Four members of the Class of 2007 chose this topic as their team project and developed a catchy slogan: “Designate in ’08.”
The GRI provided Rolfe with an added benefit: the confidence she needed to do a little real estate investing of her own. Today she owns five single-family rental properties that are fully occupied without ever having to have been advertised or marketed. She’s since earned her CRS, a designation that she says helped her move to a new level within the industry.
Bob de Camara, Brooke Cashion, Kristina Farrell and Susan Lacy created a brochure and video to promote professional development awareness, highlighting the many benefits of designations, including financial advantages, referral opportunities and access to valuable resources.
One idea suggested by the four is future development of a dedicated Web site to provide detailed information for real estate professionals interested in increasing their knowledge and income.
In return for the money and time it takes to earn the CRS, agents become one of the 4 percent of licensees who make an average of $160,000 annually, more than four times as much as the $39,300 that the average REALTOR® earns selling real estate. “Surveys show that agents who have this and other designations earn more money,” Rhodes says. “It’s been proven that if you have these designations, you are among the elite.”
Licensed since 2003, Jane Rolfe, broker at Century 21 The Realty Group in Greenville, says she got involved with professional development right out of the starting gate. She started with her ABR (Accredited Buyer Representative), which she was able to take in an online format that didn’t require travel or classroom time. She then moved to her GRI, and says it
“The GRI program set the pace, while the CRS expanded on the theories and the ideas,” says Rolfe, who takes every continuing education course available, including one recently that covered home septic systems. “I’m passionate about adding knowledge both for my business, and as a way to be a better agent for my buyers.”
Each of the designation programs offered by the state association are actually managed by a group of dedicated REALTORS® who serve on the board of directors of the North Carolina Real Estate Education Foundation (NCREEF), the educational arm of the NC Association of REALTORS®. Rolfe is a current member of the NCREEF board, and her belief in the importance of professional development is typical of those who serve with her.
To make sure his customers and colleagues know just how much time and effort he’s put into professional development, de Camara displays all of
Determine optimum use of property by learning the financial aspects that impact land in transition.
Land in transition is everywhere: agricultural land is being converted into recreational uses and urban brownfields into commercial and residential uses, just to name a few. This course helps land professionals analyze options and determine the optimum use of a property by learning about financial aspects; physical considerations; and governmental, legal and 3 economic factors that impact land in transition. Upon completion of the course, students will be able to package transitional land for sale and develop a plan that addresses market segmentation, seller counseling and property marketing.
Instructor: Course Administrator: Dates: Time: Class Fee: Location: For More Information Contact:
Cindy Chandler (Charlotte, NC) NC Association of REALTORS® November 27-28, 2007
8:30 a.m. - 5:00 p.m.
$275 on or before November 13, 2007
$300 after November 13, 2007
NCAR Headquarters: Greensboro, NC Contact the NCAR Professional Development Department at 1-800-443-9956
Note: Real Estate License not required.
The Transitional Land course counts as 20 credits towards the coveted ALC designation.
address: www.ncrealtors.org
his credentials on his business cards, literature and online marketing materials. He also spreads the good word by mouth, since not everyone grasps the significance of the acronyms GRI or CRS. “We educate the public on the importance of working with people who believe in the importance of developing themselves and their professional skill sets,” says de Camara of his company. “We make a pretty big deal of out of it.”
Rolfe, who is currently finishing up her ePro designation, says agents who are strapped for time should seek out online educational opportunities, even though such courses “lose the face-toface interaction with other attendees, and with the speakers and educators.” Past that, she suggests seeking continuing education courses that are offered locally, particularly for newer agents who can’t yet justify the travel expenses or the time away from the office.
Rhodes encourages all agents who have a few years in the industry to aim for designations such as the GRI and CRS, but also suggests the SRES (for working with clients who are aged 55 and over), CRB (for brokers and office managers, and the ALC (for land brokerage). He says the latter is particularly attractive for agents who are coming into the industry with an interest in land brokerage and development. Depending upon your exposure and attainment level, de Camara advises all licensees to “jump in with both feet to the GRI,” and then progress to higherlevel courses that either cover broad interests (such as the CRS) or specific niches (such as the SRES or ALC). “With the market as it is, and the level of competition growing, now is the time to get proactive about improving your skills,” says de Camara. “Get in there, get familiar with the opportunities and learn as much as you can.”
The NC Real Estate Educational Foundation (NCREEF) is pleased to now offer its newest professional development opportunity – the online EcoBroker designation. Please note that this is not an NAR designation. EcoBroker will help you stay current with the growing green real estate market and the opportunities it presents through a core curriculum that offers innovative energy, environmental and green strategies for real estate professionals. Learn to reduce liabilities and increase buyer and seller satisfaction while creating a competitive niche in the marketplace and building your business.
For more information or to register for this online program, log in to the members section of the NC REALTORS® Web site, and click on NCREEF/Education.
by Diane Greene Director of Community Outreach
Thanks to more than 80 REALTORS®, sponsors and industry leaders, the inaugural REALTORS® Charity Challenge golf tournament in late June was an overwhelming success, raising $17,200 for Homes4NC, the housing opportunity foundation of the North Carolina Association of REALTORS®.
“The tournament more than met our expectations, particularly in that it was a first-year event,” said Danny Brock, the 2007 president of NC REALTORS®. “It was a beautiful day on an outstanding golf course –and for a great cause.”
Before beginning play at historic Starmount Forest Country Club in Greensboro, participants enjoyed a buffet lunch and the opportunity to network with housing professionals from across the state.
Woody Durham, the legendary radio play-by-play voice of the University of North Carolina Tar Heels and honorary chairman of the event, kicked off the tournament with a special thanks for the work that REALTORS® do to help ensure that all citizens can realize the American Dream. “It’s an honor to be associated with such a worthy cause,” he said. “You folks are doing great things for those in need in our state.”
The Pinehurst/Southern Pines Association of REALTORS® team won the inaugural REALTORS® Charity Challenge. From left: Marcus Larose, Kay Beran, Scott Lincicome and Buddy Mackey.
Set yourself apart from the competition and show clients that you really care about your community by making a contribution to Homes4NC in their name. Some REALTORS® and housing industry partners have committed a certain amount for each of their closings; others make a contribution as a closing gift. Either way, your clients will see that you are an ardent supporter of helping those less fortunate in your community achieve homeownership.
“Giving $5 per closing to Homes4NC is an easy way to support a worthwhile cause and show that you care about more than your commission check,” says NC REALTORS® President Danny Brock, whose company has contributed thousands of dollars from closings over the past three years. “When clients find out that you contributed on their behalf, you create more goodwill than any amount of advertising could ever buy you.”
When you enroll in the closing contribution program, Homes4NC will provide you with customized, high-quality certificates to present to your clients.
Participating in the closing contribution program is a small gesture that makes a big impression on clients and prospective clients. And getting started is easy. Just visit the “Participation” section of www.Homes-4NC.org or contact Diane Greene at 800-443-9956 for more information and an enrollment form.
Homes4NC grants help to real people in communities throughout North Carolina – like Joyce Patton, a first-time homeowner in Charlotte. Patton, the mother of three, won a new home during the Home Giveaway celebration of the Charlotte Regional REALTOR® Association’s Housing Opportunity Foundation. The foundation teams with a local builder and the Housing Partnership to give a home away to a participant who successfully completes a homeownership counseling program. For the past three years, Homes4NC has supported these efforts through grants to the CRRA Foundation totaling $10,000.
Homes4NC would like to help more people like Patton, but we can’t do it without you. If your local REALTOR® association is supporting an organization that helps increase housing opportunities, let us double your efforts by providing a matching grant. Our next grant cycle ends Sept. 30. For more information, visit the “Grants” section of www.Homes4NC.org.
Mark your calendar for Tuesday, Oct. 2 and make plans to join us for the premier housing awards program in North Carolina. That’s when REALTOR® leaders and other housing advocates will come together to honor the individuals and organizations who are creating the most innovative solutions to our state’s tough housing challenges.
The 2007 Homes4NC Affordable Housing Achievement Awards will be held that day from 11:30 a.m. to 1:30 p.m. at the Raleigh Regional Association of REALTORS® office in Cary. This uplifting affair is your opportunity to network with prominent housing leaders while giving well-deserved recognition to those making a difference for affordable housing. For more information, visit www.Homes4NC.org.
Dear Forms Guy: I represented a buyer who recently closed on a newly constructed home. She is very happy with the house, but can’t get the builder to come back to fix a few odds and ends. I told her that by law, there is a one-year builder’s warranty that requires him to fix the problems. She wants to send the builder a copy of the law, and I need you to tell me where I can find it.
Sincerely,
Sharp SallieDear Sallie: I have some bad news for you. There is no such law. This is a common misunderstanding. A builder may offer a warranty but is not required to do so. Your buyer should review the sales and/or construction contract she entered into with the builder to see if it contains a warranty, and if it does, the extent of the warranty. If the parties used the Offer to Purchase and Contract (form 2-T) together with the New Construction Addendum (form 2A3-T), the items that need to be corrected would probably be covered. Paragraph 8(a) of the Addendum contains a one-year limited warranty of construction which obligates the builder/seller to “… make all necessary repairs and corrections to the house, either interior or exterior, structural or nonstructural, that shall become necessary by reason of faulty construction, labor or materials or non-conformity of construction to the plans and specifications.”
Sallie: The builder insisted that we use his contract form. I told the buyer that it seemed awfully one-sided in favor of the builder, but she said that it wouldn’t be a problem because the two of them go to the same church. I have this bad feeling that the contract doesn’t contain any warranty. Is the buyer out of luck?
Forms Guy: Not necessarily. Although the law does not require a builder to give a warranty, North Carolina’s courts have recognized the existence of a so-called “implied warranty of habitability” that does arise by operation of law, provided that certain requirements are met. Generally, the requirements are: (1) there must be a contract for the sale of a recently completed dwelling or a dwelling then under construction; (2) the seller must be in the business of building such dwellings; and (3) the implied warranty is for only the benefit of the first buyer of the dwelling.
Sallie: Would this implied warranty cover the things my buyer wants fixed?
Forms Guy: The “odds and ends” that your buyer client wants the builder to fix may or may not be within the scope of the implied warranty of habitability. Under the warranty, the builder/seller warrants that the dwelling, together with all its fixtures, is sufficiently free from major structural defects, and is constructed in a workmanlike manner so as to meet the standard of workmanlike quality prevailing at the time and place of construction. The warranty is limited to latent defects –those not visible or apparent to a reasonable person upon inspection of a dwelling. It has been held by North Carolina courts to cover a variety of defects, including a defective air-conditioning system, a fireplace and chimney that didn’t draw properly, and a defectively constructed garage and driveway.
Sallie: I pulled the construction contract out of my buyer client’s file. It says that the builder disclaims any and all warranties, express or implied. Can the builder exclude the implied warranty of habitability?
Forms Guy: The implied warranty of habitability can be excluded by agreement between the parties. However, according to our courts, it must be done by clear, unambiguous language. A general disclaimer like the one in the construction contract your buyer entered into arguably does not constitute an effective disclaimer or waiver of the implied warranty. On the other hand, in one case, the court held that an express disclaimer of any implied warranty of habitability found in a 2-10 Home Buyers Warranty offered by the builder and accepted by the buyer did constitute an express waiver of the implied warranty.
Sallie: So what should I do now?
Forms Guy: The nature and extent of your buyer client’s warranty rights is a potentially complicated matter. You should direct her to a lawyer for advice on what her legal rights are. In addition to potential warranty rights, she may have other claims against the builder, such as a claim for negligent construction, which is independent of any claim for breach of implied warranty.
Have a question or questions for the Forms Guy? Email Will Martin at wmartin@ncrealtors.org.
GUESS WHAT, FOLKS? WOMEN ARE RAPIDLY BECOMING THE SILENT MAJORITY IN THE REAL ESTATE MARKETPLACE. WHILE EVERYONE PAYS ATTENTION TO THE NEEDS OF THE “TYPICAL FAMILY,” IT SEEMS THAT TOO FEW PEOPLE ARE ADDRESSING THE SPECIFIC NEEDS OF SINGLE FEMALE REAL ESTATE BUYERS AND SELLERS.
Which of the following groups buys more condominiums: married couples, single men or single women?
The answer is single women. Not only are single women buying more condominiums, the National Association of REALTORS® reports that 22 percent of all home purchases are made by single women as opposed to only 9 percent for single males. In other words, single Gen X and Gen Y women are buying more than twice as much real estate as compared to Gen X and Gen Y men.
Single Gen X and Gen Y women are buying more than twice as much real estate as compared to Gen X and Gen Y men.
In the most recent four months ending in July, condominium sells supported the national statistics for Alec McAlister, a REALTOR® for Yost and Little in Greensboro. Single women outbought single men while almost doubling the number of condominiums bought by married couples. “I do think you are seeing more and more single women owning homes and condominiums,” he says. “They are working really hard and taking all the necessary steps to become a homeowner.”
(continued on page 40)
Generally speaking, Connie Corey, a REALTOR® for Prudential Properties in Greenville and past president of the state association, has seen a surge in both single men and women buying homes. “There is a trend where singles are purchasing homes a lot sooner, certainly more so than five years ago,” she says. “Generation X and Y are getting married later, and many of them are more financially stable at an earlier age.”
What accounts for these differences? Is it that women are nesters and men are hunter-gatherers? Are women more practical, buying a house while their male counterparts opt for the big-screen television with surround sound?
McAlister attributes a great deal of the difference in homeowner rates between single women and men to the determination and organization that women demonstrate when purchasing a home in the first place. Corey notes that her single female clients tend to ask more questions and do more advance research before even beginning to shop for a home.
“Women tend to always be the planner; they want to know what is going to happen in the future,” Corey says. “Women are not relying on men nearly as much as they once did, so they are focusing on their own portfolio, retirement and investments.”
Consider these facts:
>> According to the U.S. Census, 51 percent of all women in the United States live without a spouse.
>> Women now account for 57 percent of all college graduates.
>> Women continue to outpace men in terms of longevity. Women between the ages of 50 and 70 are not only inheriting their parents’ wealth, many have had their own careers where they have accumulated substantial sums of their own money. If they were mar-
ried, they may also inherit (or obtain in a divorce settlement) part of what their husbands have accumulated as well.
>> While women continue to be under-represented as CEOs in Fortune 500 companies, an increasing number of small businesses are now owned and operated by women. A substantial number of these women work from home.
REALTORS® looking for a good source of business in a slowing market could benefit from becoming a niche specialist who works with single women. To better serve this increasing segment of the market, home in on what different aspects of the single female market want.
While many older single females shy away from investment properties due to the property management issues, a substantial proportion of single Gen X and Gen Y females are putting their money into real estate investments. A primary challenge is that there are very few residential agents who specialize in two- to four-unit investment properties.
Becoming an expert on two- to four-unit investment properties has its advantages. First, assuming the owner will occupy one of the units, you can obtain a conventional loan. Second, many Gen X and Gen Y females prefer to rent and make their first real estate purchase an investment property. Once someone becomes an investor, the individual is more likely to buy additional properties as opposed to someone who only purchases a primary residence. Third, for your clients who have children heading off to college, it’s often more cost-effective for them to buy a condominium or small rental property rather than putting their daughter in a dorm or an apartment.
When a woman purchases a primary residence, her age may have a strong influence on the type of property she buys. For example, first-time Gen X and Gen Y buyers are more likely to buy a centrally located loft condominium in a major metropolitan area. The urban lifestyle is highly attractive to many single Gen X and Gen Y women.
In contrast, a boomer female may elect to purchase a townhouse or condominium that is near her children. Many women also prefer full-service condominium buildings, not only for security reasons, but for the extra help a doorman or concierge can provide. A large proportion of them also love to travel. Having a place that they can lock up and not have to worry about maintenance is another draw for the full-servicebuilding lifestyle. As these women age, they may elect to move into a retirement community where they can have the benefit of companionship and organized group activities.
Home-based Business.
It’s also important to determine whether the woman works at home. If so, having a team of trustworthy professionals who can help her convert a bed-
room into her office is another great way to serve this niche.
Join the local chamber of commerce or a similar organization. Become involved in raising money or other charitable activities. Look for Gen X and Gen Y women online, at church, or by engaging in sports activities. The point is to meet them on their own turf and to offer a unique set of services customized to meet their specific needs.
“When it comes to single women, it is essential to be a good listener,” says McAlister, the Greensboro REALTOR®. “They need to be able to trust you.”
(This article was reprinted with permission of Inman News. Contributing was Barbara Mathis, communications specialist for the NC Association of REALTORS®.)
REALTORS® looking for a good source of business in a slowing market could benefit from becoming a niche specialist.
Although the forms changes were effective July 1, the NC Association of REALTORS®’ Forms Use Policy allows permitted users a 60-day grace period to continue using an old version of a standard form following a modification of that form.
So, due to the extensive changes for 2007, you may continue using the old version of the forms under an elevated 120-day grace period – until November 1. In addition, the association’s legal counsel strongly recommends that you attend one of the forms training classes prior to using the new forms.
The new NC REALTORS®’ forms have been added to the forms list in Realfast 6, our standalone desktop product. (See the Q&A below for instructions on updating your software to obtain the new forms). Realfast will continue to make the old form versions available in Realfast 6 until November 1 as well.
The new NC REALTORS®’ forms are also in the process of being added to our new online and offline product, Realfast2Go. The old form versions will continue to be included there as well until November 1.
How can I get the new NCAR forms updated in my Realfast 6 software?
You may update your Realfast 6 software to obtain the new forms using the following simple steps:
>> Log in at www.ncrealtors.org. Your user name is the email address you have on record with your local board, the NC Association of REALTORS® and NAR. Your password is your NRDS ID number, which can be found above your name on the label of this issue of Insight
>> Select the Realfast logo on the right side of the page.
>> Print your registration information at the bottom of the “Forms and Contracts” page.
>> Follow the instructions to the right of “Your Registration Information.”
>> If you are a Windows Vista user, select the “Need to download the Windows Vista version?” for instructions.
That’s all there is to it. Should you need any assistance, please contact a Realfast customer service representative at 800-5710277.
Why aren’t the new forms available in Realfast Online?
We made the decision to focus our resources toward our new state-ofthe-art online and offline product, Realfast2Go, as opposed to updating the forms in Realfast Online. The new product will replace Realfast Online, beginning November 1. If you are still using Realfast Online, you may continue to use it for new transactions only until November 1. You may still access it after that date to complete transactions initiated prior to November 1. Since many of the forms in Realfast Online will become obsolete on November 1, it will be necessary to use an alternate means to complete your contract forms at that time. We recommend using our new online and offline product, Realfast2Go.
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Discounted auto insurance program. Benefits include rates not available to the general public; prompt, professional service by over 700 agents in NC; convenient monthly payment options; and 24-hr., no hassle claims service.
Underwritten by United Concordia, this program offers two plan options, your choice of dentists and a vision plan at no extra cost. Plan is offered and managed by Fidelity Capital Management.
Fidelity Capital Management is pleased to offer Blue Advantage individual major medical insurance for members and BlueCross BlueShield Agency benefit plans.
As a sponsored Partner of NC Association of REALTORS® since 1994, Pearl offers association members access to comprehensive Errors & Omissions Insurance, underwritten by XL Insurance. We also offer members home warranty services through our partner American Home Shield (AHS).
Limited benefit medical plans offer the health insurance coverage many people need; doctor visits, x-ray and lab work, prescription drugs and limited hospitalization. Although the plan is not a major medical plan, it can serve as gap coverage for members who have high deductibles, or be important coverage for those with no health insurance.
ADVANCED ACCESS is an industry leader in Website development, Web hosting, e-mail marketing and Internet marketing for real estate professionals, and has served the real estate industry since 1985 with more than 30,000 clients nationwide. ADVANCED ACCESS hosts IDX data feeds for approximately 100 Multiple Listing Services nationwide, totaling approximately 1.5 million listings.
Discounts on Long Term Care Insurance; Disability Income Insurance; Comprehensive Financial Planning Fees; and Retirement Contribution Protection may be available for NC REALTORS® members and to select family members.
Special rates not available to the general public.
Just contact us by phone at toll free at 866-340-9915, or e-mail at ncar@financialhomebuilders.com, or by visiting our Partner page at www.financialhomebuilders.com/ncar.
Call 800-382-0661 and reference media code #8756. Be sure to mention that you are a NC REALTORS® member.
Group rates for dental coverage for individual members; vision discounts are free to dental plan enrollees.
Major medical plans you need with the benefit of a broker working on your behalf; broad range of plan options
NC Association of REALTORS®endorsed E&O provider.
Call 919-876-9610 or visit the Partner page on the NC Association of REALTORS® Web site at www.ncrealtors.org.
Call 919-876-9610 or visit the partner page on the NC Association of REALTORS® Web site at www.ncrealtors.org.
For more information, contact a Pearl representative at 800-289-8170. You may also visit our Web site at www.pearlins.com.
Guaranteed acceptance regardless of health conditions or age; coverage provided without deductibles, co-pays or networks.
Call 877-925-1840 or visit www.transchoicencar.com
Fortune 1000 companies.
NC REALTORS® members receive special discounts and services on wireless solutions.
NC REALTORS® members will receive discounts of up to 33 percent OFF retail prices on various packages available.
ADVANCED ACCESS can be reached by calling Sales Toll-Free 800-335-1563 or by visiting their Web site at www.AdvancedAccess.com.
10 percent discount on monthly service plans, up to 30 percent discount on accessories and free activation with a two year contract.
Simply sign up online to receive the discount. Visit the Partner page on the NC Association of REALTORS® Web site at www.ncrealtors.org.
Stop by any company-owned AT&T/Cingular store to activate your account. Provide FAN 2017074 to receive the discount.
For more information, contact the partner of your choice at the number or Web site given.
Be sure to identify yourself as a NC REALTORS® member to get the great discounts and quality service you deserve. Visit www.ncrealtors.org or call
UPS offers the most reliable express service available today and savings you can count on. There are no enrollment fees or contracts to sign.
$1.50 off UPS Next Day Air®
Letters, 10 percent off UPS Next Day Air® Package and UPS 2nd Day Air A.M.® Letter and Package, and 20 percent off UPS Worldwide ExpressSM Letter and Package
For additional discount information or to sign up, call 800-325-7000.
Established in 1981, Systel is the largest dealer of Ricoh and Panasonic office equipment in the state. Systel also offers commercial printing services such as brochures, business cards, letterhead, postcards, and more.
Carry the only MasterCard® with the NC Association of REALTORS® logo prominently displayed. When you make your next purchase, you might walk away with a listing or prospect simply by using your new NC Association of REALTORS® credit card.
If you call FSBOs, expired listings or referrals, ensure compliance with the Do Not Call laws. Avoid fines as high as $11,000 per violation. For Broker /Owners or individual agents.
Significant savings on the purchase or lease of copiers, printers and fax machines. Members also receive $0.25 color copies.
Low introductory APR, no annual fee, priority customer service, and a year-end summary of charges.
NC Association of REALTORS®endorsed Do Not Call Compliance Solution. 50 percent off to NC REALTORS® Members.
Call 800-849-5300 for more information or 336-808-COPY to contact a representative in your area or visit www.systeloa.com.
Call 800-523-7666 and mention priority code GAAADW. Also, ask about the new World Points Reward program.
Call 800-585-4888 or visit www.dncquickcheck.com. Must use Security Code SC1837TM to receive discount.
Handle your staffing needs the smart way: you select staff, decide compensation, and manage employees. Outstaffing will handle details such as taxes, payroll and benefits.
Preferred customer pricing. Call 888-OUTSTAFF or visit www.outstaffing.com/ncar_index.com.
DeltaCom is a Southern-based premier provider of integrated telecommunications solutions. At DeltaCom, we believe in helping businesses save time and money by offering competitive pricing on local, long distance, data and internet services, all on one invoice.
3 percent association discount. For a NO-OBLIGATION assessment of your existing local, long distance, data and internet service, simply call DeltaCom at 800-239-3000.
®
Realfast NC Association of REALTORS® Forms software contains all NC Association of REALTORS® and North Carolina Real Estate Commission forms.
FREE to NC REALTORS® members.
Download software free on NC Association of REALTORS® Web site at www.ncrealtors.org.
ZipForm is a powerful, easy-to-use software program that helps real estate agents increase productivity while decreasing time spent doing paperwork. Special broker services available as well as Desktop and Online versions.
NC REALTORS® member prices are $49.95 for Desktop or Online; $74.95 for both. Regularly $109.90 and $159.95.
Contact 866-MY-FORMS or www.zipform.com/promo/NC
Online or on your desktop simplify the way you write contracts with FormulatorTM, your industry connection to instant forms.
NC REALTORS® member special prices are $79.95 for desktop FormulatorTM
Call Formulator sales at 800-499-9612 or our online store at www.formulator.com.
The National Association of Home Builders has filed a lawsuit against an air pollution control agency in California, saying the agency is illegally attempting to control “indirect” sources of air pollution, specifically, emissions from vehicles involved in home construction. At the heart of issue is whether builders can be forced to hire consultants to tell them how much pollution their various construction vehicles are putting into the air, and then be fined $1,772 per home for emissions that cannot be mitigated.
Coastal Brunswick County has become the 14th fastest growing county in the country, and, while slowing, Carolina Beach issued more building permits in the past five years than during the previous two decades combined. Just to the north, the average selling price of homes in Wrightsville Beach has nearly tripled since 2001. A less obvious change, though one with potentially huge ramifications, is the rise in water levels. Each year, the ocean off North Carolina rises about a tenth of an inch, experts say. Restricting development is one possible aid to the problems, though it would not be popular. It also could affect the coast’s economy, which is driven by tourism and construction.
Lenoir has just about everything mighty Google Inc. wants cheap, abundant electricity; excess water capacity to keep the computers cool; and lots of inexpensive land. The digital titan, based in Mountain View, Calif., has been hunting for places to plant new server farms: vast, immaculate warehouses filled with row upon row of computers that allow Google to offer faster online searches and advertisements. North Carolinians agreed to a package of tax breaks, infrastructure upgrades, and other goodies valued at $212 million over 30 years, or more than $1 million for each of the 210 jobs Google said it eventually hoped to create in Lenoir.
The Ocracoke Lifeguarded Beach on Ocracoke Island was named the number one beach on Dr. Beach’s top 10 beaches list for 2007. Dr. Beach is well known for his annual ranking of the top 10 beaches in America as well as a list of certified clean beaches. The island, surrounded by the Cape Hatteras National Seashore on North Carolina’s Outer Banks, is known for its clean water, sand and unspoiled natural beauty.
Asheville was recently honored as Outside magazine’s choice of best Southern town. In each region of the country, it selected the best town with a population of fewer than 100,000 people and the best city with a population of more than 100,000 people (Atlanta was named the best city). Asheville has been named a top city to live in, work in or visit by a host of publications through the years, including Money Magazine, Southern Living and Forbes
Are you interested in bringing more diversity to your local and state REALTOR® associations? If so, you’ll want to apply for a Diversity in Leadership Scholarship to attend the Vision Quest leadership program coming up Dec. 3-4 in Greensboro. Awarded by the NC REALTORS® Equal Opportunity and Cultural Diversity Committee, the scholarships will provide up to $250 in financial assistance to as many as five first-time attendees. Applicants should be REALTORS® who have not previously attended Vision Quest and who come from what they consider to be an underrepresented demographic group. The application deadline is October 12. Sign up for a scholarship today and watch your career soar! Visit the “Events & Calendar” section of www.ncrealtors.org for an application or contact Diane Greene at 800-4439956.
In a handful of states, home sale prices are not a matter of public record. In several others, you’ll have to extrapolate the sales price from the transfer tax the state collects on every ownership change. Thirty seven states now have full disclosure, and six states –Arkansas, Delaware, North Carolina, Oklahoma, Rhode Island and Tennessee – offer only transfer-tax data. Seven states are classified as nondisclosure states: Alaska, Idaho, Louisiana, Mississippi, Missouri, Texas and Utah. Missouri qualifies because parts of that state, including St. Louis and St. Charles counties, have passed full-disclosure ordinances
Raleigh Named Top City To Sell A Home Forbes.com has named Raleigh the best city in the country for selling a home. Other top cities included San Francisco, California; Austin, Texas; San Antonio, Texas, and St. Louis, Missouri. The ranking was based on several sales criteria, including data from Moody’s Economy.com and the National Association of REALTORS®.
North Carolina has adopted national regulatory guidance on subprime, adjustable-rate mortgage loans, the office of the state commissioner of banks recently confirmed. The Conference of State Bank Supervisors, the American Association of Residential Mortgage Regulators and the National Association of Consumer Credit Administrators developed the guidelines, which are meant to apply to lenders that aren’t regulated by federal agencies. The bank commissioner’s office says the adoption of the standards addresses practices that have led to foreclosures and mortgage fraud.
Extra garage space with two or more spaces in their homes is just one of many features home buyers are looking for, according to the “2007 Profile of Buyers’ Home Feature Preferences,” recently released by the National Association of REALTORS®. The number of buyers expressing a desire for oversized garages
grew 16 percentage points since NAR’s last survey of buyer preferences in 2004. About 57 percent of home buyers surveyed now say they want an oversized garage. What’s more, among buyers who purchased homes without big garages, 56 percent said they would have paid more for an oversized garage, compared to only 6 percent in the 2004 survey. NAR’s latest home buyer preference survey asks buyers about the importance of 75 home features and room types.
Support is growing for large-scale multiple listing service consolidation, according to a survey conducted by the National Association of REALTORS®’ Center for REALTOR® Technology. However, the ideal MLS size for members of the National Association of REALTORS® is statewide while MLS executives prefer market area or metropolitan area size. MLS data-sharing and consolidation have been a hot topic in the industry, with the National Association of REALTORS® and some state and local REALTOR® groups pursuing initiatives that may serve to shape the future of the nation’s MLS system.
Unless you have been traveling all summer or just been incredibly busy, you probably already know the news.
Counties will have the option to put both a 1/4 cent sales tax and a .4 percent transfer tax on their ballots, but can only impose one. If the transfer tax is approved and implemented locally, the current .2 percent deed stamp tax would effectively be increased to .6 percent. On a $200,000 home, sellers currently have to pay $400 at closing. Under this proposed tax, the sellers would have to pay an additional $800.
Some counties may choose to pursue a 1/4 cent sales tax option. Other counties – especially those without a substantial retail base – may focus in on the transfer tax. Some counties may decide not to push for any new taxes at all. Ultimately, the local county commissioners will be responsible for deciding what goes on the local ballot – and when.
In early 2007, there was a big change in the House leadership with a group of Triangle Democrats taking charge. Those leaders have been longtime vocal supporters of transfer taxes. Since late January, the NC Association of REALTORS® and our allies with the NC Home Builders Association have been lobbying against any kind of transfer tax. So how did the local tax option win favor? As Dan Kane of The News & Observer wrote on July 29:
“The Senate, meanwhile, gave in on the House leaders’ Medicaid relief package, which includes language that gives counties the option to raise their sales taxes by a quarter-penny or increase their land transfer taxes from .2 percent to .6 percent if voters approve. (Governor) Easley had supported House leaders in their position, even though legislative leaders in both chambers said a land transfer tax option would never pass by itself.”
A handful of N.C. House Democrats, led by Speaker Joe Hackney, forced the transfer tax into the state’s $20 billion budget. Only three Democrats voted against the budget – Reps. Jimmy Love (Lee) and Lorene Coates (Rowan), along with Sen. John Snow (Cherokee). Only one Republican, Sen. Fletcher Hartsell (Cabarrus), voted in favor of the budget.
Sen. David Hoyle (Gaston) said his fellow Democrats underestimate the political damage they will take from Republicans. “They’ll kill you with it,” Hoyle said.
In the aftermath of the budget deal, some political pundits reached a speedy conclusion that the REALTORS® lost big during this session. Here, though, is some more mature analysis from Tom Campbell of the NC Spin TV program:
“Realtors avoided a statewide 1 percent real estate transfer tax. It wasn’t even allowed in counties without passage of a referendum by voters in the county. The level of awareness of this tax was heightened to a point where its passage will be difficult to achieve in many, if not, all counties.”
That last sentence is crucial. Our most recent poll (July 24) indicates 77 percent of the N.C. public is opposed to a real estate transfer tax. Since the end of March, we have been educating the public about this issue through television, radio, newspaper, direct mail and our Web site at www.itsabadidea.org.
The original legislative proposal was to have a 1 percent statewide transfer tax. A statewide 1 percent tax would have had a fiscal year 2008 impact of about $700 million on N.C. property owners. Legis-lative Fiscal Research says that if all 100 counties were to adopt the .4 percent transfer tax (highly unlikely), the taxpayer impact would be $246 million for fiscal year 2008. The 1/4 cent sales tax (if adopted by all counties) would yield $247 million in fiscal year 2008.
New legislation now allows counties to have the option of placing either a .4 percent transfer tax or a 1/4 cent sales tax on a local ballot for voter approval. The Fiscal Research department of the N.C. General Assembly has prepared comparative numbers to gauge the difference in revenue generated by the two proposed taxes.
The transfer tax battle was the major news story in Raleigh for several weeks in July. During the last month of the legislative session, supporters of the transfer tax (The Partnership for N.C.’s Future) aggressively attacked the NC Association of REALTORS® and loudly criticized the so-called “standard 6 percent REALTOR® commission.” The vast majority of our 44,000 members have been very supportive of our efforts to Stop the NC Home Tax.
In a July 29 viewpoint column in the Charlotte Observer, Pat Riley, president of the Allen Tate Company, put it all in perspective: “Why then have we (REALTORS®) campaigned against the tax? Because we represent the constituents of the legislators who are being lobbied to impose it. The tax would make homes less affordable, and we’re the only organized group that can speak for the homeowners, who are not organized.”
Riley is right on. This issue is all about housing affordability, and REALTORS® are protecting the interests of North Carolina homeowners. It appears likely that there will be a number of county transfer tax referendums across the state beginning this fall. It’s equally likely that we will continue to be involved in voter education. The battle, in fact, has just begun.
Many of the state’s largest and most influential firms demonstrated their support of our campaign through the following statement:
“As owners and principals of some of the largest real estate firms in North Carolina, we applaud the efforts of the North Carolina Association of REALTORS® in educating the public about the real estate transfer tax. This tax amounts to an assault on housing affordability and will price many N.C. citizens out of the housing market. A targeted tax on home sellers is an inappropriate way for government to fund services that benefit the entire community.”
Pat Riley & Allen Tate
The Allen Tate Co., Charlotte
Johnny Morisey & John Hawkins
Fonville Morisey, Raleigh
Neal Hanks
Beverly-Hanks, Asheville
Eddie Yost Yost & Little, Greensboro
George Laney
Laney Real Estate, Wilmington
Danny Brock Century 21 Brock, Wilmington
Jimmy Townsend
Townsend Real Estate, Fayetteville
Don Walston
Coldwell Banker Howard Perry & Walston, Raleigh
Earn your CRS in 2007 –right here in North Carolina!
The North Carolina Real Estate Educational Foundation, sponsors ofthe first and finest REALTOR® Institute in the nation, will offer three courses in 2007.
Basic Registration Fee per course is $300.
*Early Bird Registration Fee per course is $275.
Audit Fee: Ifyou already hold the CRS designation, you may audit an NCREEF CRS course for $200.
*Early bird refers to registration applications received in our office at least two weeks prior to the course.
CRS 206
October 11-12, 2007
Greensboro
Grandover Resort Hotel
Instructor: Pat Zaby, CRS, CCIM
On-site registration ($350) is allowed, but not encouraged, due to material and space availability. Telephone registrations are not allowed. Cancellation requests must be in writing to the Administrative Director and must be received in the NCREEFoffice three working days prior to the start ofthe course. Fee for cancellation is $50.
CRS 210
December 6-7 2007
Greensboro
Grandover Resort Hotel
Instructor: Franklin Serio, CRS, CRB
For a registration form, go to www.ncrealtors.org and click on Education & Events, or call 1-800-443-9956.
“A CRS designee’s income is more than four times higher than the median income ($38,000) of other REALTOR® sales associates.”
– 2005 NAR Survey
