Listed Magazine December 2015

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LISTED

a magazine of the richmond association of REALTORS速 rarealtors.com

THE YEAR IN REVIEW AND THE YEAR AHEAD + Thank You 2015 RPAC Major Donors + Congratulations, RAR Members + Class Offerings + Real Estate in the Digital Age

FPO ADDRESS LABEL

FROM THE PRESIDENT John S. Finn, Jr.

IT’S THE RELATIONSHIPS THAT MATTER MOST The other day, I was telling our CEO, Laura Lafayette, that I couldn’t believe my year as President was coming to a close; and that next year, I would feel a little adrift. Her response was: “well, most presidents feel that way; and that’s a good thing. It means you have cared deeply about the work of the Association and you’ve had good a time.”

That’s certainly true for me—I’m proud of what we have accomplished this year; and I’ve had an absolute ball.

In my installation speech last year, I asked that in 2015 we place an even greater emphasis on community engagement; we’ve certainly done that. In February we visited the General Assembly for “Day on the Hill.”

In March our non-profit, the Partnership for Housing Affordability, released a comprehensive report— “Housing the Richmond Region: Needs, Impediments, and Strategies”—that will guide affordable housing policies for years to come. In April we celebrated Affordable Housing Awareness Week, during which many of our members worked with housing non-profits to construct or improve affordable housing units in the Richmond area. Also we did our part to promote the UCI races, holding a seminar in August that focused on the economic benefits of Richmond’s sports tourism and emerging bike culture.

In the early fall we hosted two vacant property workshops that attracted over 150 decision makers—all focused on eliminating the blight of vacant properties. And a few weeks ago, we held our biennial TRENDS event. We used this opportunity to hear from those who are leading our local K-12 school systems. I know that finding ways that REALTORS® can support and champion our schools is a cause that is near and dear to my successor, Dawn Bradley. So I look for exciting efforts in this regard in 2016. Finally, on the MLS front, we have worked hard RAREALTORS.COM

to establish the Commonwealth MLS CoOp. In the next several weeks, Williamsburg will transition to our Matrix MLS system; and Chesapeake Bay and Rivers will join us in late January. The goal of the CoOp is to reduce the need to join multiple MLSs, thereby increasing your efficiency and lowering your costs.

While these accomplishments are significant, what has proven most rewarding for me personally—and what has surprised me really—is the personal encounters. I’ve grown even closer to my Executive Committee members; they’re not just my fellow officers, they’re good friends.

I’ve had the opportunity to deepen my relationships with so many in our Association and the broader community.

And then there were the brief encounters—a few complaints, but mainly emails of encouragement, calls from REALTORS® to simply say “thank you,” and some members who shared deeply personal stories with me.

It really should not have surprised me that these interpersonal moments were the most memorable; because we’re in a relationship business. As REALTORS® we bring data, technology, experience, and expertise to the transaction; but most important of all—and what sets us apart from any website or app—is that we bring ourselves to the transaction; we commit ourselves to serving the best interests of our clients. The old adage is true: people don’t care what you know, until they know that you care.

To me, that’s the true foundation of our business.

As my stewardship of RAR comes to a close, I am grateful for all this year has given me. But far more importantly, I hope I have given back—that I’ve played a part in furthering the work of this great organization. I’m pleased to hand the baton to one of the smartest, classiest, gracious women I know—Dawn Bradley. She will do an amazing job for us all. Godspeed to her and to you all.

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LISTED m a g a z i n e Listed Magazine is published triannually by: Richmond Association of REALTORS® 8975 Three Chopt Road Richmond, VA 23229

Association News

Editor-in-Chief Kate Landis Marketing & Public Relations Manager

The Year in Review and The Year Ahead

Advertising & Sponsorship Kellie Whitlow 804-422-5009 kwhitlow@RARealtors.com

Class Offerings

Printing & Production Carter Printing Company

Upcoming Events

Feature 6

Education 16

Professional Development Summary of New VREB Required Disclosures for Advertising

18

NAR Report Summary

Office: 804-422-5000 Fax: 804-422-5088 Web: RARealtors.com

Real Estate in the Digital Age

Copyright © 2015. Richmond Association of REALTORS®. All Rights Reserved. Articles of information from the magazine may not be reprinted without the permission of the Richmond Association of REALTORS®.

Thank You to 2015 RPAC Major Donors Thank You to Our 2015 RAR Sponsors

The publisher does not endorse advertised products unless specifically stated, and reserves the right to reject any advertisements at any time.

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REALTOR® members pay annual dues with a one-year subscription included within their dues. Sponsor and affiliate members receive a subscription to the magazine as part of their member dues. Annual subscription rate for non-members is $25.

Postmaster: Please send change of address to: Listed Magazine Richmond Association of REALTORS® 8975 Three Chopt Road Richmond, VA 23229

RAREALTORS.COM

Congratulations Gini for 30 years of service to Bon Air Title Agency.

We applaud your leadership in the industry.

You are a true pillar of the community.

Thank you!

Bon Air Title Agency

804-320-1336 bonairtitle.com

Gini DiStanislao, President

9211 Forest Hill Ave., Suite 111 Richmond, VA 23235

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The Richmond Association of REALTORS® is pleased to announce that James T. Napier, President and CEO of Napier REALTORS®, ERA, has been inducted into the Virginia REALTOR® Hall of Fame.

ASSOCIATION

This award honors a Virginia REALTOR® who has made extraordinary and distinguished contributions to the real estate profession and markets in Virginia over a period of twentyfive years or more. Induction into the Hall of Fame is considered VAR’s principal career honor.

NEWS 2015 Installation Reception, Annual Awards Ceremony and Membership Meeting Tuesday | December 8, 2014 | 5:00—7:30pm The Jefferson Hotel Registration: $15 per person 2015 committee members and sponsors will receive complimentary registration.

Complimentary registration can be completed by emailing kburke@RARealtors.com.

All other members can register at RARealtors.com or call 804.422.5000.

CONGRATULATIONS, RAR MEMBERS Billing Dates MLS Dues

Posted

Due by

Q1 2016

December 1, 2015

December 31, 2015, by 5:00p.m.

Q2 2016

March 1, 2016

March 31, 2016, by 5:00p.m.

Q3 2016

June 1, 2016

June 30, 2016, by 5:00p.m.

Q4 2016

September 1, 2016

September 30, 2016, by 5:00p.m.

2017 REALTOR® Dues

October 3, 2016

October 31, 2016, by 5:00p.m.

RAR Holidays Please note that RAR and CVR MLS offices will be closed in observation of the following holidays: December 25 & 26 (Christmas) January 1 (New Year’s Day)

RAR’s Day on the Hill Please save the date for RAR’s annual Day on the Hill event, scheduled for Wednesday, February 17, 2016.

Spend the morning at the General Assembly visiting with members of the Richmond legislative delegation, followed by a luncheon.

Transportation will be provided from RAR to downtown.

There is no fee for members to attend.

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Last-Minute Tax Tips With the end of the year approaching, this is a good time to consider tax deductible expenses for 2015 and weigh the benefit of expediting early 2015 anticipated purchases, in order to deduct them from 2015 taxes. Some of the expense items REALTORS® can usually deduct are: Advertising

Broker fees

Legal and Professional Fees

Education Expenses

Dues and Subscriptions

Office Supplies

Meals and Entertainment

Clients Gifts

Cell Phone

Internet

Supra Fees

Mileage

Lock box Fees

Postage and Delivery Costs

RAR members and CVRMLS users can see and print a receipt for 2015 Association and MLS-related expenses by logging into their online account and clicking on “view paid and unpaid invoices.” Be sure to check with a tax consultant/accountant, if you have questions concerning the deductibility of an expense.

RAREALTORS.COM

RAR would also like to congratulate several local REALTORS® who have been inducted into the honorary fraternity of Omega Tau Rho. Created by the National Association in 1950, induction is awarded by state and local REALTOR® associations to members showing exemplary dedication and service. Inductees are members for life.

2015 INDUCTEES: Becky Accashian – Century 21 Signature Realty Jim Blandford – Fine Creek Realty Jim Brooks – RE/MAX Commonwealth Dottie Figg – Long & Foster REALTORS® Mary K. McDonald – Virginia Properties Long & Foster Rich Napier – Napier REALTORS® ERA, Napier Signature Homes C. Frederick Shultz – Long & Foster REALTORS® Jack Torza – Long & Foster REALTORS® Bettie Tussey – Napier REALTORS® ERA Ronald Vaughan – Coldwell Banker Vaughan & Co. Douglas Wallace – Long & Foster REALTORS®

2015

RAR LEADERSHIP

2015

BOARD OF DIRECTORS Don Carnesi Nancy Cheely Carol Haley David Hamil Mike Hogan Tom Innes Cindy Jez

John S. Finn, Jr. 2015 President

Mark Joyner 2015 Immediate Past President

USEFUL

URLS

RAR Website RARealtors.com RAR Blog Blog.RARealtors.com Bill Pay Site IMS.CentralVARealtors.com

Dawn Bradley 2015 President-Elect

John O’Reilly 2015 Vice President

CVR MLS Rules & Regulations resourcecenter.cvrmls.com

Virginia Real Estate Board DPOR.Virginia.gov/boards/real-estate Virginia Association of REALTORS® VARealtor.com Consumer Website WeAreTheR.com RAR Facebook Page Facebook.com/RARealtors WeAreTheR Facebook Page Facebook.com/WeAreTheR

RAR Twitter RAR Government Affairs Twitter.com/RARealtors RARealtors.com/government-affairs RAR Instagram Grassroots Action Center Instagram.com/RARealtors RealtorActionCenter.com RAR Young Professionals RAR Education RARealtors.com/education

RAREALTORS.COM

Curt Reichstetter Christina Royal Boyd Y. Smith Karen Smith Keith Smith Susan Swink

Network Facebook Group facebook.com/groups/YPNRVA

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FE ATURE

SHARK WEEK 5 CLASSES = 8 HOURS

THE YEAR IN REVIEW AND THE YEAR AHEAD

ONLY $25

164 HRS FREE CREDIT on current industry trends

HOSTING “THE 2015 LEGACY—STENGTHENING RICHMOND’S ECONOMY AND BIKE CULTURE”

This year RAR has delivered many

to protecting the safety of REALTORS®

benefits and services to members, in

by passing legislation to add a one to

addition to laying solid foundations

six year felony charge to any criminal

for future-focused partnerships.

who lures or entices a REALTOR® into

“It has gone by in a flash, but I am

a property with the intent to harm.

exceedingly proud of what we’ve

We’ve continued to update course

accomplished in 2015,” said RAR and

offerings, to keep members current

CVR MLS President John S. Finn, Jr.

on industry trends and changes, and

“On the legislative side, we’ve

offered a total of 164 hours of free

defeated proposals which could have

credit. We’ve made thirteen new and

been costly and disruptive to daily

revised CVR MLS forms available

business. We upheld our commitment

and offered 108 hours of free MLS

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2015 AT A GLANCE

13 NEW 108 HRS AFFORDABLE HOUSING

AWARENESS WEEK

and revised CVR MLS forms

FREE MLS TRAINING

2 CHURCH HILL REVISITED BUS TOURS

training, often with credit. We’ve kept

learn, engage, and connect, through

members in the know about updates

special events and programming. The

relevant to their business and

Central Virginia Regional MLS has

continued to stress the REALTOR®

developed the Commonwealth MLS

value proposition to consumers,

CoOp—a common MLS system we will

through multimedia communication

share with neighboring associations,

outlets. We’ve supported the work

providing the opportunity to work in

of several local nonprofits, helping

a much broader geographic footprint

to strengthen local communities

with over 1,000 more agents viewing

and enhance opportunities for

listings, and eliminating the need to

home ownership. We’re offered

subscribe to multiple MLSs.”

members ample opportunities to

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FEBRUARY

•R AR hosts special free REALTOR® safety training

Here are some highlights from this productive year:

Day on the Hill At the annual REALTOR® Day on the Hill, participating members spent a morning at the General Assembly, meeting with members of the Richmond legislative delegation. Following the morning meetings, the group attended a luncheon at The Valentine.

General Assembly During the General Assembly, we successfully defeated a daily $200 fine per sign proposal, secured $8 million for the Housing Trust Fund, and added a 1-6 year felony charge to any criminal who lures or entices a REALTOR® into a property with the intent to harm.

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•R EALTORS® gather during the General Assembly at Day on the Hill.

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•M onica Callahan, with Richmond 2015,

greets members at a special YPN event

MARCH YPN “Tech Tool Time”

Regional Housing Study Release

In March, RAR hosted a free technology tool educational session and happy hour for the Young Professionals Network, called “Tech Tool Time.” The session covered tips and tricks for using SmartCharts by RBI, Down Payment Resource, the RVA Homes app, and more.

On behalf of the Capital Region Collaborative, the Partnership for Housing Affordability commissioned the report “Housing the Richmond Region: Needs, Impediments, and Strategies.”

The report was prepared by the Virginia Center for Housing Research at Virginia Tech and the Center for Urban and Regional Analysis at VCU. It provides information on housing affordability strategies practiced by communities throughout Virginia and the United States which could help address the $862 million annual housing affordability deficit faced by the Richmond region. Local REALTORS®, nonprofit leaders, press, and elected officials attended the release of this study at the University of Richmond’s Jepson Alumni Center in March.

RAREALTORS.COM

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• Members enjoy special programming at the Outstanding Production Awards

APRIL Affordable Housing Awareness Week The Partnership for Housing Affordability’s spring tradition brought together area residents, local businesses, government employees, and community leaders who partnered with housing non-profits to volunteer their time to help build and repair homes for our neighbors in need.

RAR thanks the many local REALTORS® who gave their time and efforts to this cause.

MAY Outstanding Production Awards Reception, with Richmond Historic Architecture Seminar RAR held a reception for members at the Willow Oaks Country Club, in recognition of outstanding sales production for the previous year. VCU Professor of Architecture, Edwin Slipeck, gave a presentation prior to the reception on some of Richmond’s historic architecture. The JTL Band provided live musical entertainment for the reception.

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• Ed Slipeck gives a seminar on historic Richmond

architecture at the Outstanding Production Awards

JULY

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• The JTL Band performs at the Outstanding Production Awards

“REALTOR® Shark Week” During “REALTOR® Shark Week” this summer, members were given the opportunity to attend five classes and receive eight hours of Real Estate Related or Elective education credits for just $25.

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AUGUST “The 2015 Legacy – Strengthening Richmond’s Economy and Bike Culture” In August, RAR hosted speakers Beth Weisbrod, Executive Director for the Virginia Capital Trail Foundation; Monica Callahan, Community Engagement Director for Richmond 2015; and Max Hepp-Buchanan, Director for Bike Walk RVA, to discuss some of the lasting economic and cultural effects beyond the UCI races this year and to educate members on some of the region’s ongoing efforts to strengthen RVA’s bike culture and make our communities more bike and pedestrian friendly. The event was free and open to all members.

SEPTEMBER Vacant Property Workshops The Richmond Association of REALTORS® and the Partnership for Housing Affordability, through a grant from NAR, hosted “Building Strong Neighborhoods: Vacant Property Strategies,” two full-day workshops held this fall. The goal of these sessions was to bring together area REALTORS®, lenders, non-profits, for-profit developers, local elected and appointed officials and key philanthropic partners to work together with the staff of the Center for Community Progress to evaluate existing policies and develop tools and strategies that best meet the needs of our region.

“Church Hill Revisited” Bus Tours RAR hosted two bus tours of Church Hill, for an up-close look at the ripple effects of residential neighborhood revitalization efforts and the Better Housing Coalition’s environmentally conscious building practices, as well as details on how to spot properties that will qualify for down payment assistance programs for clients.

RPAC Appreciation Reception and Dinner Those who contributed $99 or more to RPAC before September 25th this year were admitted free to the RPAC recognition reception at the Jefferson Hotel. Those who contributed $250 or more were invited to attend a private dinner with local and state elected officials following the reception.

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OCTOBER Trends Seminar RAR presented the biennial Trends seminar at the Virginia Museum of Fine Arts this fall, with keynote speaker, Dr. Lawrence Yun, Chief Economist and Senior Vice President of Research for the National Association of REALTORS®.

Dr. Yun’s economic forecast presentation was preceded by a panel discussion of local school officials from the City of Richmond, and the counties of Henrico, Chesterfield, and Hanover. The event was followed by a networking cocktail reception.

“

I am honored to have served as President of this outstanding organization that is always striving to move forward and aim higher. I look forward to continuing to support its tremendous work alongside 2016 President, Dawn Bradley, with the utmost confidence in her vision and leadership.

– President John S. Finn, Jr.

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THE YEAR

AHEAD Dawn Bradley

Incoming RAR President Dawn Bradley shared some goals and areas of focus for her term: “I’m honored and delighted to be succeeding John Finn as President of RAR—John has done a tremendous job, and I look forward to building on his accomplishments,” Bradley said. “We’ve got an exciting year ahead of us in 2016. In the coming year, the Commonwealth MLS CoOp will come to fruition, our new and improved Leadership Development Academy will get underway, and REALTORfest returns with a tremendous lineup of speakers. I will have three priorities in 2016: one, I want to encourage more of our members to give to RPAC. Each and every one of us benefits from the work of the REALTOR’s Political Action Committee; so all of us should be making an annual contribution.

2016 will be a pivotal year for our region, as we will elect a new mayor and we’ll likely see a number of new faces running for City Council.

RPAC will be heavily involved in these races.

My second priority will be to focus attention on the First Time Home Buyer’s Savings Plan. Much like a college savings plan, the First Time Home

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Buyer’s Savings Plan allows someone to place up to $50,000 into an account, designate that account for the purchase of a first time home, and money earned on the account is free from state taxes. In addition, the beneficiary of the account does not have to pay state taxes when receiving the funds, as long as the funds go towards the purchase of a first home. We need to get the word out about this tool—an excellent incentive to save for home ownership. Finally, building on the momentum of our TRENDS event, at which we heard from the region’s four largest school systems, I want to focus on how REALTORS® can play a supportive role in enhancing K-12 educational opportunities in metro Richmond.

We know that people do not buy homes, until they’ve first bought into our community’s quality of life. And nothing is more important to our quality of life than the quality of our K-12 educational offerings. We want to work with school boards and administrators to communicate the good work underway in our schools.”

RAREALTORS.COM

E DUCATI ON

CONTINUING EDUCATION CE CLASS OFFERINGS

D E C E M B E R

NOVEMBER

JANUARY

FEBRUARY

MON 30

WED 13

WED 10

9am – 5pm

Pre-Licensing Broker Appraisal – Day 1 of 5

DECEMBER TUE 01

1pm – 4:30pm

WED 02

Pre-Licensing Broker Appraisal – Day 2 of 5

10am – 12pm

The E-Deal: Instanet Transaction Management

1pm – 4pm

CMA – Peak Performance Pricing

1pm – 4:30pm

Pre-Licensing Broker Appraisal – Day 3 of 5

FRI 04

10am – 12pm

MON 07

1pm – 4:30pm

TUE 08

1pm – 4:30pm

FRI 11

CVRMLS Road Rules Pre-Licensing Broker Appraisal – Day 4 of 5 Pre-Licensing Broker Appraisal – Day 5 of 5 REALTORS® Guide to Risk Management

1pm – 4pm

Show Me the Money: Earnest Money & Escrow Management

MON 14

9am – 5pm

TUE 15

9am – 5pm

WED 16

9am – 5pm

THU 17

9am – 5pm

FRI 18

9am – 11am

THU 14

9am – 5pm

FRI 15

9am – 12pm

1pm – 4pm

MON 25

9am – 5pm

WED 27

Pre-Licensing Broker State Prep CE Mandatory Credits 8 hours

9am – 5pm

Free to RAR Members

WED 02

WED 09

9am – 5pm

FRI 11

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2015, ISSUE 3

9am – 5pm

CE Electives Credits 8 hours

10am – 12pm

Fair Housing & the Practice of Real Estate

Contract Boot Camp – Essentials Components of the Listing and Purchase Agreement

1pm – 3pm

CVRMLS Road Rules

Broker Management Continuing Education

THU 25

1pm – 3pm

FRI 26

Free to RAR Members

Basic Instanet & Authentisign

9am – 12pm

REALTORS® Guide to Risk Management

1pm – 4pm

Show Me the Money: Earnest Money & Escrow Management

MON 29

9am – 12pm

Constructing an Airtight Contract

Selling New Construction

Generating Buyer & Seller Leads (ABR Elective Course) Broker Management Continuing Education

9am – 11:30am

Basic Matrix Training

1pm – 3pm

The E-Deal: Instanet Transaction Management

MON 14

1pm – 3pm 9am – 5pm

THU 17 FRI 15

CVRMLS Road Rules CE Mandatory Credits – 8 hours CE Electives Credits – 8 hours

9am – 12pm

Contract Boot Camp – Navigating the Residential Purchase Agreement

1pm – 4pm

Contract Boot Camp – Essentials Components of the Listing and Purchase Agreement

16

THU 11

CE Mandatory Credits 8 hours

MARCH

9am – 5pm

Fair Housing & the Practice of Real Estate

MON 22

CMA – Peak Performance Pricing

9am – 5pm

2 0 1 6

Contract Boot Camp – Navigating the Residential Purchase Agreement

1pm – 4pm

WED 16 CE Electives Credits 8 hours

CE Electives Credits 8 hours

CVRMLS Road Rules

9am – 5pm

Pre-Licensing Broker National Prep

CE Mandatory Credits 8 hours

10am – 12pm

THU 28

9am – 12pm

9am – 5pm

2 0 1 5 – M A R C H

RAREALTORS.COM

FOR MORE INFORMATION OR TO REGISTER (p) 804-422-5000 (e) edu@RARealtors.com (w) RARealtors.com/education

POST LICENSE EDUCATION PLE CLASS OFFERINGS DECEMBER

JANUARY

FEBRUARY

WED 02

THU 14

THU 11

10am – 12pm

1pm – 4pm

FRI 04

The E-Deal: Instanet Transaction Management (2 hours Current Industry Trends PLE)

9am – 5pm

(2 hours Current Industry Trends PLE)

WED 27

Free to RAR Members

1pm – 3pm

CVRMLS Road Rules

(2 hours Current Industry Trends PLE)

10am – 12pm

CVRMLS Road Rules (2 hours Current Industry Trends PLE)

1pm – 4pm

9am – 12pm

REALTORS® Guide to Risk Management

(3 hours Risk Management PLE)

1pm – 4pm

Show Me the Money: Earnest Money & Escrow Management

9am – 5pm

THU 28

CMA – Peak Performance Pricing

THU 25

(2 hours Current Industry Trends PLE)

1pm – 3pm

Basic Instanet & Authentisign

(2 hours Current Industry Trends PLE)

FRI 26

9am – 5pm

Selling New Construction

9am – 12pm

REALTORS® Guide to Risk Management

(2 hours Current Industry Trends PLE)

(3 hours Risk Management PLE)

1pm – 4pm

Show Me the Money: Earnest Money & Escrow Management

(3 hours Escrow Requirements PLE)

Foundations of RE Law (8 hours Law PLE)

(3 hours Escrow Requirements PLE)

MON 29

FRI 18

Constructing an Airtight Contract

9am – 12pm

Fair Housing & the

Practice of Real Estate (2 hours Fair Housing PLE)

9am – 11am

Fair Housing & the

Practice of Real Estate (2 hours Fair Housing PLE)

10am – 12pm

(2 hours Current Industry Trends PLE)

THU 17

MON 22

CMA – Peak Performance Pricing

(8 hours Law PLE)

Contract Boot Camp (6 hours Contract Writing PLE)

Foundations of RE Law

9am – 5pm

9am – 4pm

CVRMLS Road Rules

FRI 11

(8 hours Law PLE)

FRI 15

10am – 12pm

Foundations of RE Law

(2 hours Current Industry Trends PLE)

Free to RAR Members

MARCH WED 02

9am – 5pm

FRI 11

9am – 11:30am

1pm – 3pm

MON 14

1pm – 3pm

WED 16

9am – 5pm

THU 17

9am – 5pm

MON 21

9am – 4pm

RAREALTORS.COM

Generating Buyer & Seller Leads (No PLE Credit) Basic Matrix Training (2 hours Current Industry Trends PLE)

The E-Deal: Instanet Transaction Management (2 hours Current Industry Trends PLE)

CVRMLS Road Rules (2 hours Current Industry Trends PLE)

CE Mandatory Credits (8 hours) Foundations of RE Law (8 hours Law PLE) Contract Boot Camp (6 hours Contract Writing PLE)

New Salespersons can complete all eight PLE courses (30 required credit hours) right here at the Richmond Association of REALTORS®.

Complete the following curriculum at RAR to satisfy all 30 credit hours by your first anniversary of licensure:

2hrs 3hrs

Fair Housing

3hrs 2hrs

Escrow Management

3hrs 8hrs

6hrs 3hrs

Ethics Real Estate Law

Agency Current Industry Trends Contracts Risk Management

If you have any questions about PLE requirements or would like to register for one of these classes, please visit www.RARealtors.com or call 804.422.5000.

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P R OF E S S I O N A L DEV ELOPMENT

SUMMARY OF NEW VREB REQUIRED DISCLOSURES FOR ADVERTISING Effective November 1, 2015 R EQU I R ED D I S CLOS U RE I NFORM AT I ON Electronic Media Advertising by Firm » Firm’s licensed name » City and State where firm or branch office is located

Print Advertising by Firm » Firm’s licensed name

* All jurisdictions where the firm holds a license

Electronic Media Advertising By Licensee » Licensee’s Name » Licensee’s Firm Name » City and state where licensee’s place of business is located

Print Advertising By Licensee » Licensee’s Name » Firm’s Licensed Name

* All jurisdictions where the firm holds a license

Examples of Electronic Advertising: » Web sites » Real Estate Related Emails to the General Public, Customers and Clients » Electronic Newsletters » Internet Advertisements/ Banner Ads » Craig’s List Ads

Business Cards » Licensee’s Name » Firm’s Licensed Name » Contact information “Contact information” is defined as telephone number or web address.

Examples of Print Advertising: » Business Cards » Print Newsletters » Flyers » Newspaper Ads » Real Estate Magazines » Letters and Postcards

Facebook, Twitter, Instagram and Other Forms of Limited Electronic Media Advertisement of real estate services or listed property in a limited electronic media display must include all required disclosures or a link to a web page, no more than one click away, where the required disclosure information can be viewed.

For Sale and For Lease Signs

Owner/Agent

For sale and for lease signs placed on the property shall include but not be limited to the firm’s name and the firm’s primary or branch office telephone number.

If a licensee holds an ownership interest is a property being offered for sale, all advertising, including signage, electronic media and print advertising must include a notice of Owner/ Agent status regardless of whether or not the property is listed with a real estate firm.

* NAR Code of Ethics Article 12 requirement If you have questions concerning advertising disclosure requirements, you can contact Peggy Lynch, Vice President of Professional Development and Risk Management 804-422-5000 or email Plynch@RARealtors.com

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嘀椀爀最椀渀椀愀 䈀爀漀欀攀爀 䴀愀渀愀最攀洀攀渀琀 䌀漀渀琀椀渀甀椀渀最 䔀搀甀挀愀琀椀漀渀

ADVANCED CONTRACT WRITING:

CONSTRUCTING AN AIRTIGHT CONTRACT

Monday, February 29, 2016 | 9AM-12PM Instructor: Michael Lafayette, CVR MLS Legal Counsel Gain ADVANCED contract preparation skills that are crucial to a successful Real Estate transaction. In this three-hour class, Attorney Michael Lafayette will provide you with a “reference guide” of legally sound language you can use to bolster the strength of your contracts. Learn how the effective use of addendums will minimize ambiguity and protect your contract from frequently encountered deal breakers such as:

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• Property Condition Issues • Septic Systems • Underground Petroleum Tanks • 1031 Exchanges

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Credit: CE: 3 hrs Contracts

RAR Member Fee: $65

Call for non-member pricing.

To register, visit www.RARealtors.com, or call 804.422.5000 RAR education policies are available at www.RARealtors.com/education

RICHMOND ASSOCIATION OF REALTORS

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CONTRACT WRITING

BOOTCAMP

Friday, January 15, 2016 | 9AM-4PM Instructors: Attorney Michael Lafayette and Cathy Englishman Hit the ground running. Gain an essential understanding of Residential Contracts. This is the only class available for new licensees to obtain all 6 mandatory hours of PLE Contract Writing.

Part One: Navigating the Residential Purchase Agreement

Part Two: Essential Components of the Listing and Purchase Agreement

In this session will learn how to: • Prepare clear, concise, enforceable purchase agreements • Interpret the financing and property Inspection clauses • Recognize and resolve ambiguities • Avoid costly contract preparation errors

In the 2nd session you will learn how to: • Prepare and critique actual contracts based on case studies • Draft comprehensive addendums and complex contract terms • Gain hands-on contract knowledge and skills that will benefit you and your clients

This session features a comprehensive review of the CVR MLS Purchase Agreement. Taught by CVR MLS legal counsel Michael Lafayette.

Credit: PLE: 6 hrs Contract Writing CE: 6 hrs Contracts

During this session, you will gain a sharpened understanding of the intricacies of the CVRMLS Purchase and Listing Agreement.

Learn best practices of writing an offer and negotiating contracts while keeping your client's best interests a priority.

RAR Member Fee: $80

Call for non-member pricing.

To register, visit www.RARealtors.com, or call 804.422.5000 RAR education policies are available at www.RARealtors.com/education

RICHMOND ASSOCIATION OF REALTORS

FUNDAMENTALS OF REAL ESTATE LAW Approved for 8 hours PLE Law & Board Regulations Credit

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Topics Include Disclosures Updates Management

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Newly licensed VA Real Estate Salespersons must complete an 8 hour course covering Real Estate Law and Virginia Board Regulations within one year of license activation date.

Completion of Fundamentals of Real Estate Law satisfies this requirement.

Thursday, January 14, 2016,9am­5pm Thursday, February 11, 2016,9am­5pm Thursday, March 17, 2016,9am­5pm

Credit: CE: 8 hrs Electives PLE: 8 hrs Real Esttae Law & Board Regulations.

RAR Member Fee: $55 Call for non­member pricing.

TO REGISTER, VISIT RAREALTORS.COM OR CALL 804.422.5000 RAR education policies are available at RARealtors.com/education.

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NAVIGATING

the RESIDENTIAL

PURCHASE AGREEMENT

Friday, January 15, 2016 | 9AM-12PM Instructor: Attorney Michael Lafayette

A well-prepared contract is an essential element of a successful real estate transaction. This class features a comprehensive review of the 2015 CVR MLS Purchase Agreement taught by CVR MLS legal counsel Michael Lafayette.

In this class you will learn how to: • Prepare clear, concise, enforceable purchase agreements • Interpret the financing and property inspection clauses • Recognize and resolve ambiguities • Avoid costly contract preparation errors

Credit: CE: 3 hrs Contracts

RAR Member Fee: $65

Call for non-member pricing.

To register, visit www.RARealtors.com, or call 804.422.5000 RAR education policies are available at www.RARealtors.com/education

RICHMOND ASSOCIATION OF REALTORS

REALTORS GUIDE RISK ENT MANAGEM ®

TO

FRIDAY, FEBRUARY 26, 2016 9AM-12PM INSTRUCTOR: DONNA PROCISE, ABR, ABRM, GRI

One of the most effective ways REALTORS® can reduce both their client’s and their own risk exposure is to familiarize themselves with the laws and regulations related to real estate practice and transactions.

In this class, your instructor will discuss RESPA concerns, anti-trust exposure and environmental concerns related to the Chesapeake Bay Act, mold, radon and underground oil tanks. In addition, changes to TILA, RESPA and the flood area disclosure of information will be covered.

FAIR HOUSING

MONDAY, FEBRUARY 22, 2016 | 10AM-12PM

Instructor: Libby Gatewood Fair Housing is more than just memorizing the protected classes. Every interaction you have with clients, customers and the general public must conform to state and federal housing law.

In this class you will learn not only the intricacies of state and federal fair housing laws, but also how to protect yourself and your firm from costly discrimination claims.

CREDIT:

CE: 3 hrs Broker CE or 3 hrs Real Estate Related PLE: 3 hrs Risk Management

As part of an ongoing commitment to Fair Housing practices, the Richmond Association of REALTORS® provides Fair Housing training classes free of charge to its members!

RAR MEMBER FEE:

$40 Call for non-member pricing.

Credit: CE/PLE: 2 hours Fair Housing Non-Members: $30

To register visit RARealtors.com or call 804.422.5000

Free for RAR Members!

To register, visit RARealtors.com/education or call 804.422.5000.

RAR education policies are available at RARealtors.com/education

RAR education policies are available at RARealtors.com/education.

Earnest Money Deposits

Show Me the Money & Escrow Management

Friday, February 26, 2016 | 1PM – 4PM A significant number of Virginia Real Estate Board complaints involve violations of DPOR regulations concerning escrowed funds.

In this class you will learn the proper procedures for:

Dates: Wednesday, September 28, 2016 | 9:00a.m.-5:00p.m.

Thursday, September 29, 2016 | 9:00a.m.-5:00p.m.

Location: Richmond Association of REALTORS® 8975 Three Chopt Rd. Richmond, VA 23229 Credit: CE: 2 hrs Agency, 1 hr Legal Updates, 2 hrs Ethics, 2 hrs Contracts, 3 hrs Electives PLE: 2 hours of Current Industry Trends RAR Member Fee: $225 Before 9/14/2016 $260 After 9/14/2016

Call for non-member pricing.

To register, visit RARealtors.com/education or call 804.422.5000

RAR education policies are available at RARealtors.com/education

Instructor: Cathy Englishman, ABR®, GRI

• Handling, depositing and documenting of earnest money deposits • Resolution of disputes involving escrowed deposits • Requirements for release of held deposits • Penalties and reporting requirements for escrow violations CVR MLS Notice of Termination and Release of Purchase Agreement forms will also be discussed.

Credit: CE: 3 hrs Broker CE or 3 hrs Real Estate Related PLE: 3 hrs Escrow Requirements RAR Member Price: $40 Call for Non-Member Pricing.

To register, visit RARealtors.com/education or call 804.422.5000.

RAR education policies are available at RARealtors.com/education.

N AR RE PORT SU MM A RY

REAL ESTATE IN THE DIGITAL AGE Kate Mahan, Professional Development Administrator

To keep up with today’s savvy buyers, Realtors® are tasked with the challenge of keeping up with technology.

In a September 2015 report released by NAR, Realtors® indicated that one of the biggest challenges they are facing in the next two years involves technology.

The report closely examines the behaviors of today’s buyers. In 2014, 43 percent of buyers looked for properties online before consulting with an agent. Buyers now use numerous apps that let them search by location and neighborhoods. Virtual tours save buyers time by allowing them to view properties and narrow their search before they actually connect with an agent.

The technically savvy millennial generation (born between 1980-1995) makes up the largest group of first-time home buyers, at 68 percent. Generation X (born between 1965-1970) is a distant second, at 29 percent. According to the survey, Millennials are considered to be today’s typical home buyer; 25-35 years old, married without children living at home, and a median income of $84,500.

Realtors® now have to keep up with technology advances in this digital age. The good news is that, according to the survey, 9 out of 10 buyers of all generations contacted a real estate agent.

The survey shows that the overwhelming majority of Realtors® (over 90 percent) are using e-mail, computers, and smartphones daily. While members are taking advantage of the technology that is available to them, 46 percent of firms cited technology as one of the biggest challenges to face in the next two years.

The takeaway from this survey is that buyers still find value in using a Realtor®. To keep up with technology savvy buyers, today’s Realtor® must find balance in technology and connect with their clients.

To view the entire NAR report, Real Estate in the Digital Age, visit the NAR website: http://www.realtor.org/research-and-statistics 22

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TOGETHER, WE HELP EACH OTHER DO MORE. Nationwide® is proud to partner with the Richmond Association of REALTORS®.

You wouldn’t be involved with the Richmond Association of REALTORS®, if you weren’t passionate about your profession but that’s not the only reason you’re a proud member.

The Richmond Association of REALTORS® believes in the importance of philanthropy and in playing an active role in your community. Nationwide shares these values, too, and that’s why our partnership works.

To learn more about what our partnership can do for you, call Kim Rice at (804)767-1471.

Nationwide may make a financial contribution to this organization in return for the opportunity to market products and services to its members or customers. Products Underwritten by Nationwide Mutual Insurance Company and Affiliated Companies, Columbus, OH 43215. Not all Nationwide affiliated companies are mutual companies, and not all Nationwide members are insured by a mutual company. Subject to underwriting guidelines, review, and approval. Nationwide and the Nationwide N and Eagle design are service marks of Nationwide Mutual Insurance Company. ©2015 Nationwide Mutual Insurance Company. AF0-0575AO.1 (3/15)

A Team You Can Trust.

Experienced. Dedicated. Responsive.

From left to right: Paralegal Susan Hale, attorney Chris Petersen, real estate section chair and attorney Ashley Harris, paralegal Tina Murray, attorney Aubrey Brown, paralegal Shana White.

Count on the real estate team at Parker, Pollard, Wilton & Peaden for you next real estate closing.

Our knowledgeable, experienced professionals will work closely with you and your clients throughout the entire closing process and will provide the highest level of service.

We understand real estate, and we want to assist you with all of your real estate needs.

Feel free to contact us any time, day, evening or weekends.

Aubrey Brown abrown@parkerpollard.com or 804.261.7325 | Ashley Harris aharris@parkerpollard.com or 804.261.7307 | Chris Petersen cpetersen@parkerpollard.com 804.261.7303 or cell 804.441.5635

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