February 2011 by Richmond Association of REALTORS®

Volume 6, Issue 1

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L I S T ED A M A G A Z I N E O F T H E R I C H M O N D A S S O C I AT I O N O F R E A L T O R S ®

Access to Important Documents Anytime, Anywhere

INSIDE: • Free Real Estate Tech Tools • REALTOR® Day On The Hill Recap • 2010 Annual Award Recipient Pictures • 2011 Code of Ethics Updates

Welcome to

速

From the

President Cheryl Hamm

Seeing the Forest and not Just the Trees In the past six months, I’m sure many of you have been asked: are we out of the woods yet? While I’m a bit tired of the question, the good news is that the question in and of itself indicates a certain amount of optimism. To ask the question, one has to believe that, just perhaps, we’ve finally turned the corner. I think we have. So here’s my answer: we’ve still got some trees (challenges) to navigate, but we’re much further along on our journey through the forest today than we were a year ago. There’s light up ahead, and it’s not an oncoming train. It’s real daylight. While some of us may not feel like we’re experiencing economic recovery, all the indicators suggest we are. The job losses in many sectors of the economy have abated; some sectors are even experiencing growth. Retail sales were up at the end of 2010, and almost all economists are predicting growth in the GDP for 2011. Eventually, these positive signs will engender greater consumer confidence and consumer confidence is essential for the recovery of the real estate market. Other essentials for recovery are: one, stable pricing as a precursor to price appreciation (and for the last four months we’ve seen prices remain steady); two, the continued sell off of the distressed inventory (we’ll see this throughout 2011 but most predict the greatest activity in the first six months of the year); and three, continued low interest rates (most economists are predicting only modest increases). So the stage is set for recovery, but it will be slow, it will be gradual; and for many of us, it will “feel more like it” in 2012 rather than this year. But that doesn’t mean opportunities won’t abound in 2011.

Last year, over 11,000 MLS listings sold.

Those listings represent opportunities for each and every one of us—opportunities to help people fulfill the dream of home ownership, opportunities to work in the profession we love, opportunities to earn a living. I believe 2011 will be better than 2010; so I challenge each of you to go out and make the most of these opportunities. As you do your job, your Association and MLS will be doing our best to assist you. In the first half of 2011, we will launch two new technology products—DocBox and Authentisign. Both of these products are designed to generate efficiencies and cost savings for brokers and agents alike. The best way to take advantage of these products is to attend free training classes. And when you attend class, I hope you’ll notice that we’re making a special effort not simply to show you how a product works, but more importantly, offer training on how best to integrate the functionality of these technology products into your daily business routines. In addition to new technology offerings, we have an exciting slate of educational classes, Broker Town Halls, and membership events slated throughout the year. For example, our Distinguished Achiever Reception will be held Thursday, May 5; and on Wednesday, October 19, we will host TRENDS—our biennial look at market trends and political happenings that will influence our business bottom line. As we move through the activities of the year and as we work to make the most of our market, I hope we will keep in mind that while we will encounter challenges, we will experience many successes as well. Thank you for the privilege of serving as your 2011 President. I’m looking forward to an excellent year.

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L I S T ED Volume 6, Issue 1 2011

Contents

L I S T ED

Listed Magazine is published quarterly by the Richmond Association of REALTORS , ®

8975 Three Chopt Road, Richmond, VA 23229 Editor-in-Chief Karen J. Treanor Director of Communications and Marketing

Managing Editor Kate Loveluck

FEATURE

Communications Coordinator

Welcome to DocBoxTM Online Document Storage from Instanet . . . . . . . . . . . . . . . . . . . . . . . . . 12

Printing & Production

Association News 4

6 FREE Tech Tools Stand out from the crowd . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Proforma Graphic Information Services Graphic Design

CVR MLS Auction Properties and the MLS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . MLS Cautionary Tales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CVR MLS Training Schedule March - May . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Lisa Garcia (804) 422-5009 marketing@RARealtors.com

D E PA R T M E N T S

Distinguished Achiever Awards, Housing Forum, AHAW . . . . . . . . .

Advertising & Sponsorship

6 7 8 9

Sattler Creative The publisher does not endorse advertised products unless specifically stated and reserves the right to reject any advertisements at any time. Any questions about advertising policy should be directed to the Managing

Government Affairs

Editor or the Director of Communications and Marketing.

RAR REALTOR® Day On The Hill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Real Estate Sign Ordinances A guide to what can be placed where . . . . . . . . 14

REALTOR® members pay annual dues with a one-year subscription included within their dues. Sponsor and affiliate members receive a subscription to the magazine

Professional Development 2010 Annual Award Recipients & 2011 Leadership . . . . . . . . . . . . . . . 20 Education Calendar March - May . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

as part of their member dues. Annual subscription rate for non-members is $25.

Office:

(804) 422-5000

Fax:

(804) 422-5088

Meet The Board of Directors

Web:

www.RARealtors.com

Woody Hogg and Dawn Bradley . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

Professional Standards 2011 NAR Code of Ethics and Standards of Practice . . . . . . . . . . . . . . 20

magazine may not be reprinted without the permission of the Richmond Association of REALTORS®. Postmaster: Please send change of address to

REALTOR Store

Listed Magazine, Richmond Association of REALTORS ,

New Open House Products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24

8975 Three Chopt Road, Richmond, VA 23229

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ASSOCIATION NEWS

2011 RAR Leadership

Updating Member Information Now is a great time to update member information with RAR. If you have moved in the last year, changed your email address or phone number, or have other information that needs to be updated, please log on to www.RARealtors.com and use the Account Manager tab to edit contact information. This will ensure that communications

Cheryl Hamm

Scott Ruth

Karen Smith

Linda Staples Terry

2011 President

2011 President-Elect

2011 Immediate Past President

2011 Vice President

materials and other important information are received.

Directors Richard Bower Dawn Bradley Nancy Cheely Amy Enoch John Finn Woody Hogg

Distinguished Achiever Awards Reception Thursday, May 5, 2011, 5:00p.m.-7:00p.m. The Westin Hotel 6631 West Broad St. Richmond, VA 23230 Admission is free for award winners; admission for all others, including spouses

Tom Innes Wayne Johnson, Jr. Lummie Jones Mark Joyner Jean Longest Bill White

or guests of award winners, is $20. Admission includes hors d’oeuvres and two

volunteers come together to help build and

2011 CVRMLS Quarterly Dues Schedule

drink tickets. Please RSVP to Kathryn Burke

repair homes for our neighbors in need.

at 804.422.5010, if planning to attend.

The goal of Affordable Housing Awareness

Invoice date March 1 June 1 September 1

Week is to increase awareness about the

Due by 5pm March 31 5pm June 30 5pm September 30

Save the date!

challenges related to housing affordability

Housing Forum with

in the Richmond area by providing educa-

Majority Leader, Eric Cantor

tional programs and events attended by the

Tax Deductible Portions of

March 24, 2011, 9:00am – 11:00am

public, local business and government lead-

2010 Dues and Assessments

University of Richmond

ers, as well as the media. Large numbers of

The National Association of REALTORS®

Jepson Alumni Center

volunteers are organized to directly assist

estimates 68% of the $80 dues is

those in need of affordable housing by

deductible ($54), as is 100% of the $35

Affordable Housing

teaming up with local non-profit housing

Public Awareness Campaign Assessment.

Awareness Week

organizations. Beginning March 10th, sign up

The Virginia Association of

to participate in a variety of activities and

REALTORS® estimates 86.35% of the $110

Join 15 non-profit

volunteer opportunities during this year’s

dues is deductible ($95), as is 100% of the

housing organizations for the fourth annual

Affordable Housing Awareness Week at

$10 issues mobilization fee, along with

Affordable Housing Awareness Week, where

www.AffordableHousingRichmond.com.

100% of the $30 New Member Fee and

Useful URL’s

April 25 – 30, 2011

RAR Home Page www.RARealtors.com

CVR MLS Rules and Regulations www.RARealtors.com/members/cvrmls/rules.aspx

Bill Pay Site www.RARealtors.com/members/default.aspx

RAR Government Affairs www.RARealtors.com/members/government/default.aspx

RAR Staff Directory www.RARealtors.com/members/about/sdirectory.aspx

Grassroots Action Center www.RARealtors.com/members/government/votervoice.aspx

REALTOR Store http://www.RARealtors.com/members/store.aspx

The Real Estate School www.RARealtors.com/members/education/default.aspx

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Virginia Real Estate Board www.state.va.us/dpor/reb_main.htm Virginia Association of REALTORS® www.varealtor.com Local Home Search www.REsourceHome.com

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$33 Building Assessment charged to new members. The Richmond Association of REALTORS速 estimates 90% of the $120 dues is deductible ($108). View 2010 RAR expenses by logging into www.RARealtors.com and clicking Account Manager, then

View Paid and Unpaid Invoices. Scroll down and click on Account Activity Report and insert the appropriate dates. The information is available in three different formats with varying degrees of detail.

CVR MLS

well as an explanation of the basis for the list price (tax assessment, minimum bid, etc) ; (iii) disclosure of auction type, required minimum bid and/or buyer’s premium, the auction date, location and inspection/preview instructions ; and (iv) an unconditional offer of compensation from the Listing Participant. The addition of remarks, comments and/or attachments that attempt to impose additional requirements for cooperating broker compensation is a violation of CVR MLS rules and regulations and is not permitted. (v)When there is no longer an offer of cooperation and compensation from the CVR MLS Listing Participant (i.e. the property is in “auction freeze status” and all offers may only be placed through a non-CVR MLS firm) the listing status must be changed to released or temporarily withdrawn.

Auction Properties and the MLS

By Peggy Lynch, GRI

Director of Professional Development and Broker Services

eal estate property auctions are not a new phenomenon. Auctions have long been used by property owners and professionals for the purposes of tax and foreclosure sales and for estate settlement matters. In today’s

housing market, however, more lenders, asset managers and property owners are turning to auctions to facilitate the sale of real property. Real state auctions and the traditional real estate sales processes are not mutually exclusive and can offer REALTORS® collaborative opportunities to meet the needs of buyer and seller clients. While REALTORS® and the MLS are integral and valued components of the Central Virginia real estate market, there are also an increasing number of REALTORS® and auction companies working together to sell homes, commercial properties and land. These types of cooperative arrangements vary widely and can involve MLS, license law, and regulatory considerations. The Central Virginia Regional MLS (CVR MLS) allows auction properties in the MLS database, as long as they meet the same submission criteria as any other listing. These requirements include:

(i) an Exclusive Authorization to Sell or Exclusive Agency Agreement executed by the property owner; (ii) a list price, as

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Other considerations include the separate and distinct licensing, disclosure and advertising requirements for Virginia auctioneers and real estate licensees. While some auctioneers in Virginia are licensed as real estate brokers, Virginia auctioneers are not required to hold a real estate license to auction real property. Real estate licensees, however, may not offer properties for auction unless they hold a Virginia auctioneers license. Because of these license requirements, REALTORS® should exercise care when entering property or auction detail into the publicly displayed remarks and fields. Another important rule to remember is that MLS listings may not be used to promote property sales by non-member auction firms. Information specific to non-member auctions firms and their web sites may be displayed only in the Agent Only Comments field. Finally, REALTORS® should be aware of possible RESPA compliance issues and requirements related to affiliated business relationships, mortgage financing and compensation arrangements. For additional information on Virginia statutes and regulations pertaining to auctions and auctioneers, visit the DPOR website www.dpor.virginia.gov and search on the term “auctioneers”. The NAR web site, www.REALTOR.org, also has an auction resource center containing links to related industry news, trends, research, and information. If you have any questions concerning CVR MLS rules and regulations and auction listings, contact Peggy Lynch, Director of Professional Development and Broker Services at 804.422.5006 or send email to plynch@rarealtors.com. L

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ARY TALES

MLS CAUTION

E VIOLATING

COULD YOU B

TIONS?

S AND REGULA

CVR MLS RULE

IOLATION:

FEATURED V

Failure to Report Settlement

EXAMPLE OF VIOLATION: Tax records indicate that the property sale has closed, but it has been two weeks and the status of the listing has not changed from Pending to Sold in the MLS database.

Explanation: Status of the listing must change from Pending to Sold within the three (3) day period as stated in the CVR MLS Rules & Regulations. Governing Rule or Regulation:

CVR MLS Rules & Regulations, Section 7.14 Reporting Sales to the Service: When a sale or exchange has closed or a lease has been signed, the Listing Participant shall change the Listing status to sold/leased in the MLS Database within three (3) days of settlement or lease. If negotiations were carried on under Section 7.1 A or B of these Rules and Regulations, the cooperating Participant shall report accepted offers to the Listing Participant within three (3) days after the occurrence and the Listing Participant/Subscriber shall report them to the MLS within three (3) days after receiving notice from the cooperating broker. Violation Count: Over the past month, 38 warning letters have been sent out to members who have violated the Reporting Settlement rule. A fine of $250 is incurred for violations not corrected within the time frame specified in the courtesy warning letter. An important aspect of providing MLS services is to help ensure the quality of the listing data in the system. The TempoTM system is checked daily looking for listings that are in violation of the CVR MLS Rules & Regulations. Anonymous faxes/e-mails from members of the Association reporting violations on listings are also an extremely valuable source of quality control information. Anonymous tips can also be sent by a member from the “Click here to contact the MLS with questions or concerns regarding this listing” feature that has been added to the bottom of Agent Reports. Should you have questions about what is correct procedure, please contact the MLS Department at 422-5004.

Copies of the CVR MLS Rules and Regulations can be obtained online at http://cvrmls.myismart.com/pages/home.

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March - May 2011

MLS Training Schedule

Tempo Tip TM

MARCH 2

New Member MLS Training

1pm-4:30pm

CMA Price it Right

9am-12pm

MLS Rules and Regulations

1pm-3pm

DocBox™ Workshop

9am-11am

Prospecting & Contact Management

9am-12pm

Instanet™ Forms

1pm-3pm

New Member MLS Training

8:30am-12pm

Tempo™ Jumpstart

9am-11am

iMapp Tax Records

1pm-3pm

APRIL 4

New Member MLS Training

8:30am-12pm

DocBox™ Workshop

1pm-3pm

Top 10 Tempo™ Tips

9am-12pm

Digital Cameras & MLS Photography

1pm-4pm

MLS Marketing

9am-12pm

New Member MLS Training

1pm-4:30pm

CMA Price it Right

1pm-4pm

Tempo™ Jumpstart

9am-12pm

New Member MLS Training

8:30am-12pm

Prospecting & Contact Management

9am-12pm

iMapp Tax Records

1pm-4pm

DocBox™ Workshop

1pm-3pm

Report Manager Workshop

9am-12pm

New Member MLS Training

8:30am-12pm

Commercial & CIE Workshop

9am-12pm

Instanet™ Forms

1pm-4pm

Tempo™ Jumpstart

1pm-4pm

MAY

Inputting a Listing Correctly While it goes without saying that it is important for an agent to enter listings into Tempo™ correctly, the busy lifestyle of the real estate business can cause human errors to occur. Two common errors that are easy to avoid, however, are: 1. Entering a Listing into the Wrong Property Type The most common example of this is listing a Condo or Townhouse incorrectly as a Single Family home. Once this occurs, the listing cannot be moved, since the fields in Condo/Townhouse are different from those in Single Family. When this error is realized, DO NOT withdraw or release the listing. The incorrect listing must be deleted completely from Tempo™ before the listing agent is free to re-enter it into the correct property type. 2. Entering a Listing Prematurely This occurs when a listing is entered before a ratified listing agreement is received and is partially filled in as an incomplete listing, but is then inadvertently submitted. This is not only an error, but also a CVR MLS Rules and Regulations violation. A listing must not be entered without a fully executed listing agreement. The incomplete listing function in Tempo™ is not intended as a way to begin entering a listing in advance. It is only intended to give members the opportunity to pause the input process on a property for which they have a ratified listing agreement. Should either of these errors occur, an immediate deletion of the incorrectly entered listing must be requested, either by fax to 804.422.5050 or by email to mls@rarealtors.com. Be sure to include the MLS number and address of the listing, a request to delete it, and a brief explanation of the reason for the deletion as documented.

To register, call the Education Department at 804-422-5016 or log onto www.RARealtors.com and click on "Education”

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they are, and organizes them within seconds. You can also edit your pictures and create online web albums made for sharing with other agents and your clients. http://picasa.google.com

FREE Tech Tools to Help You Stand Out from the Crowd

Google Maps for Mobile - You can use Google Maps on your phone, and never have to carry a paper map again. Get driving directions, traffic reports, satellite views, local information and more all in the palm of your hand for FREE. Simply go to m.google.com/maps using your phone's web browser and the appropriate version for your phone will be sent to you. (For some, carrier charges may apply.) From mobile device: m.google.com/maps

By Karen J. Treanor, Director of Communications and Marketing

There are a number of internet tools and applications available nowadays that can provide a net-savvy agent the distinct advantage over the less technologically inclined agent. Knowing which tools are appropriate and how to employ them can be daunting, not to mention expensive. One way to get your feet wet with some of the more popular technology available to REALTORS® is to start out with the ones that require no investment. Yes, the ones that are FREE…gratis, no charge. Here are a few tools that not only provide solutions for the needs of today’s REALTOR®, but they also won’t have a negative impact on finances.

Evernote – Note taking made simple. Evernote offers an easy way to remember everything. Keep notes from your listing meetings, take a picture of a whiteboard, create to-do lists, jot down random thoughts, leave a voice memo, and more. Then, easily retrieve all of those things any time from your computer, phone, or the web! www.evernote.com

Picasa – This is a FREE photo management and geo-tagging software application that will help you organize your digital photos. Picasa automatically finds all the photos on your PC, wherever

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HooteSuite – This social media dashboard allows you to manage your Facebook and Twitter accounts from one dashboard and it has a mobile version to keep you connected with clients while on the go. www.hootesuite.com

MyBrochureMaker.com – This site offers free professionally designed templates and high-resolution images and layouts that you can customize with your own logo and photography for flyers, brochures and more. It's super easy and their designs are great. Print them yourself; or use MyBrochureMaker’s printing service to complete your portfolio of marketing materials. (Rates will apply when using their print service.) www.MyBrochureMaker.com

Vlingo – Maybe you need to send a quick text to a client, because you’re running late? This text to voice application turn your words into action. Simply speak to your phone, or type a command to get just about anything done while on the go. Or perhaps you’re looking for a safer alternative to texting while driving? Vlingo can do all of these things for you, with accurate voice recognition technology. www.vlingo.com

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G O V E R N M E N T A F FA I R S

RAR Realtor Day on the Hill There was another successful RAR Realtor® Day on the Hill on February 9, 2011. RAR attendees not only enjoyed the opportunity to meet and ask questions of a number of political representatives in a private session in the West Conference room of the General Assembly Building, but they were also treated to lunch at Old City Bar on Main Street, followed by a tour of either the Governor’s Mansion or the Virginia Capitol. It was an enjoyable and educational day for all those who attended. By Karen J. Treanor, Director of Communications and Marketing

Left to Right: Group photo at the Capitol in the Old House Chamber, Del. Joe Morrissey responds to questions about local jurisdictions, Attendees enjoy some time networking, Tour of Govenor's Mansion.

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Left to Right: Sen. Don McEachin, A visit from Sen. John Watkins, John Finn enjoys lunch, Del. Manoli Loupassi shares a laugh, Phillip Innes thanks Sen. Don McEachin for visiting, Del. Betsy Carr is introduced by Elizabeth Greenfield, RAR's Director of Government Affairs, The lunch buffet gets started. w w w. R A R e a l t o r s . c o m

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Online Document Storage with Instanet’s

DocBoxTM Details Instanet DocBoxTM is an online file storage system that’s integrated with the Instanet™ Transaction Desk. DocBoxTM offers agents and brokers the ability to archive and access contracts, negotiations, or any other document in a transaction that is faxed, uploaded, or emailed into the system from a mobile phone or computer. With this virtual document management system, uploaded files can then be accessed anytime, anywhere from virtually any computer in the world with an internet access. Available to all CVR MLS users, DocBoxTM can be easily accessed through the Instant Forms SmartLink on the Tempo™ sidebar, or from the Start a Transaction icon on each listing’s detail page. Going “paperless” with online storage not only makes file management easier, but it can also help CVRMLS subscribers improve their bottom line by increasing efficiencies with improved client service and reduced risk management.

DocBoxTM also offers: Unlimited Storage: Securely store all your real estate files online.

By Jovan Hackley, Director of Education & Outreach

oday, when NAR's recent numbers show that 90 percent of buyers used the Web during a transaction and when almost every business is making an effort to “go green,” real estate’s paper approach to transaction and file management is falling out of favor. Managing paper not only costs real estate companies a lot of money and energy, but large cumbersome folders that use up financial resources are impractical when files or papers can be easily lost. Firms looking to be efficient in today's market need to explore a virtual option, which is why this quarter all CVRMLS members received access to DocBoxTM, the document storage feature available through the existing Instanet™ Forms transaction management center. “When you think about it, consumers have been interacting virtually with service providers for years. Real estate transactions have been one of very few business activities where customer information isn't being delivered online,” says Joe Kazzoun, VP of Business and Product Development for Instanet™ Solutions. “As the service provider that handles the most significant purchase of most individuals’ lives, real estate professionals cannot afford to not have virtual solutions and real-time data access for clients. Virtual transactions management, which is the next step after the adoption of online document storage, isn't an option for REALTORS® any longer; it's really inevitable.”

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Unlimited Faxing: Documents can be faxed into or out of the system, at no additional charge. Reduced Business Risk: The system automatically creates an audit trail. The system records when and by whom documents are created, edited, sent or received. Phone calls can also be manually logged into the system. Branded Emails and Notifications: Emails can contain personal contact information, brokerage logos and a photograph. Toll Free Fax Numbers: The DocBoxTM service provides a toll free fax number for all incoming faxes. Universal Document Format: Incoming and outgoing fax documents can be converted to PDFs, which allows anyone with the free Adobe Acrobat Reader to view DocBoxTM Documents. Transaction Files on the Go with DocBox2GoTM Included with the DocBoxTM service that is available to all CVR MLS users is a mobile version of Instanet’s™ document storage application. Listing, sales or lease files can be accessed from anywhere, with virtually any smartphone with an internet browser such as Blackberry, iPhone or Treo with DocBox2GoTM. Having important files at your fingertips eliminates the need to drive back to the office or home to access files and the result is a saving of time and money. If a seller needs to review a document, simply open their file in DocBox2GoTM from a mobile device, click on the document

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and fax or email it right to the client. If a buyer wants to view a contract or form, simply open and email or fax it to them from a smartphone in seconds.

DocBoxTM Training at RAR

Questions and Training CVRMLS members now have both in-person and online opportunities to learn about DocBoxTM and AuthentisignTM. To access webinars, find training dates online, or for information on potentially bringing a training session to your office, visit www.RARealtors.com and click “Education” or call 804.422.5000. L

Greg Driscoll, with Instanet™ and Gary Duda, Broker of RE/MAX Action Real Estate, discuss DocBox™ features prior to a training session.

Members learn about the features and functionality of Instanet DocBox™

Jim Tomasello, with CVRMLS, teaches members about DocBox™ faxing capabilities

DocBoxTM Shortcuts in TEMPO There are several ways to begin a transaction in Instanet. One of the most efficient methods is to start from within the TEMPO system. To begin a transaction involving a specific MLS listing, click the TD- Start a Transaction link from the Quick Link Bar. This will open the Instanet program, import the listing data and begin a new transaction file. The transaction wizard will then step you though the key file components of your transaction and allow you to upload additional forms and information utilizing the new DocBoxTM functionality. Instanet and Docbox training is available 24/7 in the form of webinars and online searchable help instructions. Links are available in the Tempo Sidebar. Instanet service and support is also available Monday-Friday 8am to 8pm EST, by phone 800-668-8768 or by email: support@instanetsolutions.com or by Live Tech Chat, which can be accessed by clicking on the living support link found within your Instanet account.

John Hicks, with CVRMLS, provides practical examples of how DocBox™ will facilitate everyday transactions.

Mark Joyner, with Napier REALTORS® ERA, demonstrates navigation within DocBox™ to members.

Did you know? >

NAR research shows real estate transactions have generated about 18 billion sheets 26 million homes since 2005. That’s at least 692 sheets of paper per transaction.

of paper to sell roughly

> 692 sheets per transaction is the equivalent of a ream and a half of paper or $4.70 for each successful transaction. >

By leaving the traditional paper-based transactions, individual MLSs could help

save 1100 trees annually.

G O V E R N M E N T A F FA I R S

REAL ESTATE SIGN ORDINANCES A Guide to What Can Be Placed Where Each locality in the Richmond Metropolitan area has its own set of sign ordinance provisions that must be observed. To avoid having a sign removed or accruing a fine, it’s important to comply with each locality’s rules governing real estate signs. Please note that all Richmond-area jurisdictions allow on-site real estate signage, but some have further specifications, which are listed below.

LOCALITY

DIRECTIONAL SIGNAGE ALLOWED

SETBACK REQUIREMENTS

On-site: 5 ft. from property lines

Amelia

Yes

Charles City

Chesterfield

Yes

Yes; sign is limited to the REALTOR association trademark “R”, equal housing opportunity logo, “for sale”, or “for rent”, and an arrow; may not be in the public ROW*

Signs shall not be located within or over the public ROW*

QUANTITY

On-site: no more than 20 sq. ft. in area

Directional: no more than 2

Directional: same as on-site signs

On-site: N/A

On-site: 6 sq. ft. in area or less;

On-site: unlimited Directional: one sign per intersection

On-site: N/A On-site: N/A

Goochland

ED •• 220011 11 IISSSSUUEE 11 LLIISSTTED

Yes

Directional: may be as close at 2 ft. from the ROW*

SIZE

On-site: N/A

Signs shall not be located within or over the Directional: up to 5 signs public ROW*

15 ft from property lines; along public ROW, setback may be reduced to a min. of 20 ft. from the edge of pavement or the face of the curb

By Elizabeth Hancock Greenfield Director of Government Affairs

Directional: no more than 1 sign per company is allowed at any road intersection

Directional: 6 sq. ft., 8 ft. high

On-site: 6 sq. ft., 7 ft. high Directional: same as on-site

On-site: shall not exceed 4 sq. ft.

REMOVAL TIME FRAME

ILLUMINATION ALLOWED

FINE

Any illumination must be focused on the sign, cannot flash, Within 90 days cannot be red or green and cannot cause glare. If electricity is required must obtain permit.

Up to $1,000

Immediately upon sale of property

Yes

Up to $1,000

Within 10 days after the transfer of title or rental of the property

Up to $1,000

Yes; with a permit. Contact the planning department for more information. 804-556-5860

Up to $250

On-site: Within 10 days after the property is under a signed contract

Directional: signs shall not exceed 2.5 sq. ft. Directional: Within 10 days in area after closing

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LOCALITY

Hanover

Henrico

Louisa

New Kent

DIRECTIONAL SIGNAGE ALLOWED

Yes; must have permission from the property owner; Signs may not be located in the public ROW*

Yes; must have permission from the property owner.; Signs many not be located in the public ROW*

Yes; sign permit required, signed by property owner

Yes

SETBACK REQUIREMENTS

On-site: can be placed up to the front property line; Not in public ROW*

On-site: Not less than 15 ft. from any street or lot line Directional: Not in public ROW*

Signs may not be located within public ROW*

On-site: N/A

Powhatan

Richmond

Yes

Directional: outside of public ROW*

On-site: Signs shall not be located within 5 ft. of any street line or within 15 ft. of any other property line

QUANTITY

On-site: only one sign for each street frontage Directional: one sign per street frontage

On-site: one Directional: N/A

On-site: one Directional: one per parcel

N/A

SIZE

On-site: not more than 6 sq. ft. in area Directional: same as on-site

On-site: not exceeding 32 sq. ft. in area or 8 ft. in height Directional: not exceeding 2 sq. ft. in area or 8 ft. in height

Directional: N/A

On-site: N/A

ILLUMINATION ALLOWED

FINE

Up to $1,000

N/A

Up to $1,000

Signs may be displayed for a period of up to 90 days

Up to $1,000

The lighting cannot (1) cause glare or (2) be aimed upward. Instead the illumination must be aimed directly at the sign

Up to $1,000

On-site: within 7 days of property being sold, rented, or leased Directional: Signs may be placed no earlier than 3:30 p.m. on Friday and removed no later than 7:00 p.m. on the immediately following Sunday evening.

On-site: Promptly after the sale or rental or development of the property Directional: same as on-site

On-site: shall not exceed 9 sq. ft. in area Directional: same as on-site

On-site: signs cannot exceed 32 sq. ft. in area and 8 ft. in height Directional: same as on-site

On-site: one

REMOVAL TIME FRAME

On-site: signs may not exceed 8 sq. ft. in area and 7 ft. in height Directional: signs may not exceed 4 sq. ft. in area

On-site: Not to exceed an aggregate area of 6 sq. ft. long each street frontage of a lot

On-site: after the sale or rental of the property Directional: promptly when the property has been sold or rented

After the sale, rental, or lease of the property

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PROFESSIONAL DEVELOPMENT Past RAR President Bill White hands a gavel and flowers to Cheryl Hamm, new President of RAR and CVRMLS.

Honoring 2010 Annual Award Recipients and Welcoming 2011 Leadership By Kate Loveluck, Communications Coordinator

n the evening of December 8, 2010, at the University of Richmond Jepson Alumni Center, the Richmond Association of REALTORS® held its annual Installation Reception and Awards Ceremony. The Annual Installation Reception and Awards Ceremony is an event to honor the recipients of the Richmond Association of REALTORS’® awards winners and to welcome the new President of the Richmond Association of REALTORS® and Central Virginia Multiple Listing Service for the upcoming year, as well as the newly elected members of the Richmond Association of REALTORS® Board of Directors. On this evening, Cheryl Hamm, of Joyner Fine Properties, was passed the baton from Immediate Past President Karen Smith and installed as the new President of RAR and CVRMLS. Hamm has a particular interest in REALTOR® education, government affairs and technology. “Continuing to educate our agents and offering them tools to help them adapt to their new reality will

John Daly, Treasurer for the Virginia Association of REALTORS®, addresses the crowd prior to swearing in 2011 CVRMLS officers.

Don Atkinson, former RAR President, presents Karen Smith, Immediate Past President, with a commemorative plaque and gavel.

be essential. I’m looking forward to leading our association through hopefully the last of the recession and giving agents those tools to help see them through, while getting them poised to take off as the market improves,” she said. President-Elect for RAR, Scott Ruth of Long & Foster, President-Elect for CVR MLS, Shanna Wiseman of Parr and Abernathy, Vice President Linda Staples Terry of Tranzon Fox, and Immediate Past President Karen Smith of RE/MAX Commonwealth, join Hamm in leading the Association through 2011. Woody Hogg, with ERA Woody Hogg & Associates, will chair the 2011 Broker Council and serve on the Board of Directors. The newly elected Board of Director members are Nancy Cheely, Dawn Bradley and John Finn, Jr. Incumbent directors include Thomas Innes, Wayne Johnson, Lummie Jones, Richard Bower, Mark Joyner, Jean Longest, Bill White and Amy Enoch. L

RAR members and their families anxiously await the announcement of the 2010 RAR award recipients.

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Cheryl Hamm takes the stage beside her husband, Ron, and is sworn into office by past RAR President Bill White.

Top: John Daly, VAR Treasurer, begins the swearing in. Karen Smith, Immediate Past RAR President, gives her final address as President.

The Richmond Association of REALTORS® honored the following recipients with annual awards for 2010:

Philip Innes (RE/MAX Commonwealth) A. Kenton Muhleman, Jr. Scholarship Award The “Rookie of the Year” Award. The recipient of this award is selected on the criteria of professional knowledge, sales activity, association participation and civic accomplishments.

Richard Bower (Joyner Fine Properties) Adrian L. Bendheim, Jr. Sales Associate of the Year Award The recipient of this award is selected based on the criteria of professional knowledge, sales activity, association participation and civic accomplishments.

Lummie Jones (Napier REALTORS® ERA) Civic Leader of the Year Award This award is designed to recognize a member of the Richmond Association of REALTORS® who has demonstrated an extraordinary commitment to enhancing the quality of life in the community.

Jacqueline S. Atiyeh (Long & Foster) REALTOR® of the Year Award The Associations’ highest honor, the recipient of this award is selected based on the criteria of REALTOR® spirit, activity in the Richmond Association of REALTORS®, Virginia Association of REALTORS® and the National Association of REALTORS®, activity in civic affairs and business accomplishments. continues next page

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continued from page 17

Other Notable 2010 Award Recipients:

Karen Smith (RE/MAX Commonwealth) Virginia Association of REALTORS® Manager of the Year Award This award recipient is selected based on the criteria of commitment to personal and associate education, real estate achievements & contributions, business & civic accomplishments, management criteria (innovation, creativity & originality).

Shanna Wiseman (Parr and Abernathy) Virginia Association of REALTORS® Property Manager of the Year This award recipient is selected based on the criteria of dedication to the advancement of the property management profession, involvement in property management councils (local or state), commitment to continuing education & professional growth, local, state and national association work and civic activity & community involvement.

Lisa Atkinson (RE/MAX Commonwealth) 2010 Council of Residential Specialists (CRS) of the Year This award recipient is selected based on time and service given to the local and state REALTOR® associations, offices held, committee chair assignments and other outstanding accomplishments. Community service participation, local and National Council of Residential Specialists offices held and committee work accomplished are also considerations in the selection of this award’s recipient.

Katy Allenbaugh-Richards (First American Home Buyers Protection) First American Homebuyers Protection Corporation Circle of Excellence Award Katy Allenbaugh-Richards received this award by ranking in the top 5 of the Eastern Division for closing on the most home warrantees in 2010.

Omega Tau Rho Awards The following Richmond Association of REALTORS® staff members have been granted membership into the honorary fraternity OMEGA TAU RHO. Created in 1950, the OMEGA TAU RHO award is presented to association staff members and others who serve the REALTOR® organization. The accolade, represented by the Medallion of Service, is awarded by state and local REALTOR® Associations in recognition of exemplary dedication and service of 10 years or more. L-R: Tony Woolcott (10 years), Mark Luck (10 years), Jim Tomasello (13 years), Velma Hatcher (13 years), Patty Dearing (11 years) and Kirsten Janca (10 years). Not pictured: Tracy Dance (14 years).

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Meet the Board of Directors

Each issue of Listed features profiles of two current members of the Board of Directors. How did you get involved in real estate? I started out buying and rehabbing houses in the late 60’s while, oddly enough, working at a bank (State Planters, which is now part of SunTrust.) I went on to have my own insurance business but remained active in acquiring real estate. I thought I would go ahead and get my real estate license, primarily for my personal buying and selling. After my first 40 days in real estate, I knew I had found what I was meant to do. My wife and 5 of our 6 children have been active in our business.

Woody Hogg Firm & Years in Real Estate 40th year in real estate; started ERA Woody Hogg & Associates in 1986 Designations Broker, Certified Foreclosure Agent, Certified Senior Specialist Experience at RAR Served on several Board Committees, past Chairman of the Commercial Division; Chair, Brokers Council for 2011.

Favorite Richmond Tradition My favorite Richmond tradition was taking our children to Miller & Rhoades to eat dinner with Santa Claus. Since the store closed, I would say that I enjoy the Fan House Tour, along with enjoying some of the great restaurants in Richmond. Favorite Vacation Spot We love being around the water! We enjoy our condo at Gwynn’s Island the most, but also enjoy the Outer Banks. Hobbies/Activities outside the office Pam and I have enjoyed traveling around the United States and several other countries. I grew up as an avid waterfowl hunter and also fishing. I still enjoy doing both but do not seem to have the opportunity as often now. I enjoy playing golf when I can. I am an East Carolina graduate and am a Pirate football fan along with my oldest son, Tripp, who is also an ECU Alum. One of our favorite pastimes today is spending time with one of our 9 grandchildren.

Dawn Bradley

How did you get involved in real estate? A long-time friend and broker at the Midlothian Office encouraged me to enter real estate, since it was a natural transition from 25 years of banking.

Firm & Years in Real Estate Long & Foster Midlothian Office since 2002

Favorite Richmond Tradition Christmas Grand Illumination in Downtown Richmond

Designations Associate Broker, ABR, GRI

Favorite Vacation Spot Colorado

Experience at RAR Grievance Committee, Legislative Committee

Hobbies/Activities outside the office Reading and socializing with family and friends

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P R O F E S S I O N A L S TA N DA R D S

client may not be "representing" that client. For example, a REALTOR® performing an appraisal assignment for a client does not "represent" the client but would still be obligated to disclose their relationship with the client to the REALTOR® from whom information is being requested. Standard of Practice 3-10 - New The duty to cooperate established in Article 3 relates to the obligation to share information on listed property, and to make property available to other brokers for showing to prospective purchasers/tenants when it is in the best interests of sellers/landlords. (Adopted 1/11)

2011 NAR Code of Ethics and Standards of Practice A Summary of Changes By Peggy Lynch, GRI Director of Professional Development and Broker Services

dopted in 1913, the REALTOR® Code of Ethics represents the “gold” standard of professional conduct for the real estate industry. The Code of Ethics is a living document consisting of seventeen Articles and related Standards of Practice. The Code is regularly updated and revised to reflect current industry practices and provide instructive guidance in the application of its duties. Below is a summary of the 2011 additions and revisions.

Standard of Practice 3-7 - Revised When seeking information from another REALTOR® concerning property under a management or listing agreement, REALTORS® shall disclose their REALTOR® status and whether their interest is personal or on behalf of a client and, if on behalf of a client, their relationship with the client. (Amended 1/11) NAR Rationale: This clarifying amendment acknowledges that in some instances a REALTOR® seeking information on behalf of a

NAR Rationale: This proposal is based on the definition of cooperation previously approved by the NAR Board of Directors that is published in the Code of Ethics and Arbitration Manual. It will provide a more visible explanation, assisting REALTORS® in understanding what Article 3′s duty of cooperation requires of them. Article 10 - Revised REALTORS® shall not deny equal professional services to any person for reasons of race, color, religion, sex, handicap, familial status, national origin, or sexual orientation. REALTORS® shall not be parties to any plan or agreement to discriminate against a person or persons on the basis of race, color, religion, sex, handicap, familial status, or national origin. (Amended 1/11) REALTORS®, in their real estate employment practices, shall not discriminate against any person or persons on the basis of race, color, religion, sex, handicap, familial status, national origin, or sexual orientation. (Amended 1/11) Standard of Practice 10-3 - Revised REALTORS® shall not print, display or circulate any statement or advertisement with respect to selling or renting of a property that indicates any preference, limitations or discrimination based on race, color, religion, sex, handicap, familial status, or national origin, or sexual orientation. (Adopted 1/94, Renumbered 1/05 and 1/06, Amended 1/11) NAR Rationale: While sexual orientation is not a protected class under Federal Fair Housing Law, this change emphasizes that the intent that all persons are to be treated equally and professionally, and not to be discriminated against. As of publishing date

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Pro Standards Training for members of the RAR Board of Directors and the Pro Standards and Grievance Committees took place at RAR on January 25, 2011.

Top: Lively interaction and discussion among participants. Right: Marc Lebowitz, Professional Standards instructor, takes a vote as to a procuring cause. Below: Members participate in a mock arbitration hearing.

Standard of Practice 12-5 - Revised REALTORS速 shall not advertise nor permit any person employed by or affiliated with them to advertise real estate services or listed property in any medium (e.g., electronically, print, radio, television, etc.) without disclosing the name of that REALTOR速's firm in a reasonable and readily apparent manner. This Standard of Practice acknowledges that disclosing the name of the firm may not be practical in electronic displays of limited information (e.g. "thumbnails", text messages, "tweets", etc.). Such displays are exempt from the disclosure requirement established in the Standard of Practice, but only when linked to a display that includes all required disclosures. (Adopted 11/86, Amended 1/11) continues on page 23

Education Calendar

March - May 2011

MARCH 1

ABR Elective: Short Sales & Foreclosures

9:00 AM - 5:00 PM

Continuing Education, Part 1

8:30 AM - 5:00 PM

Continuing Education, Part 2

8:30 AM - 5:00 PM

Mandatory PL

8:30 AM - 5:00 PM

GRI 414: Negotiation

8:00 AM - 5:00PM

Evening CE: Module 1

6:00 PM - 9:30 PM

Evening CE: Module 2

6:00 PM - 9:30 PM

Broker Continuing Education

8:30 AM - 5:00 PM

21-23

Broker Appraisal

8:30 AM - 5:00 PM

Evening CE: Module 3

6:00 PM - 9:30 PM

Evening CE: Module 4

6:00 PM - 9:30 PM

Fair Housing & the Practice of Real Estate

9:00 AM - 12:00 PM

Advanced Contract Writing

9:00 AM - 12:00 PM

30-31

CRS 201

9:00 AM - 5:00 PM

CCIM Intro – Day 1

8:00 AM - 5:00PM

CCIM Intro – Day 2

8:00 AM - 5:00PM

Continuing Education, Part 1

8:30 AM - 5:00 PM

Continuing Education, Part 2

8:30 AM - 5:00 PM

11-13

Broker Licensing Management

8:30 AM - 5:00 PM

Evening CE: Module 1

6:00 PM - 9:30 PM

Evening CE: Module 2

6:00 PM - 9:30 PM

Fair Housing & the Practice of Real Estate

APRIL

9:00 AM - 12:00 PM

GRI 404: The Cyber-REALTOR

8:00 AM - 5:00PM

Evening CE: Module 3

6:00 PM - 9:30 PM

Evening CE: Module 4

6:00 PM - 9:30 PM

Broker Exam Prep

8:30 AM - 5:00 PM

27-28

Property Management Series

8:00 AM - 5:00PM

Basics of Contract Writing

9:00 AM - 12:00 PM

Continuing Education, Part 1

8:30 AM - 5:00 PM

Continuing Education, Part 2

8:30 AM - 5:00 PM

Property Management Division Networking Event

3:00 PM - 5:00 PM

GRI 405: Pricing, Listing & Marketing the Property

8:00 AM - 5:00PM

Evening CE: Module 1

6:00 PM - 9:30 PM

Evening CE: Module 2

6:00 PM - 9:30 PM

Broker Continuing Education

8:30 AM - 5:00 PM

Evening CE: Module 3

6:00 PM - 9:30 PM

Evening CE: Module 4

6:00 PM - 9:30 PM

MAY

For more information or to register, please contact: The Real Estate School / Tel: (804) 422-5016 E-mail: edu@RARealtors.com or log onto www.RARealtors.com and click “Education”

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Ethics continued from page 21

NAR Rationale: This amendment is in response to REALTORS®’ increasing use of electronic communications to advertise their real estate services and listed property. In some instances, the limitations on the amount of text that can be included in such communications make compliance with the Standard of Practice’s disclosure requirement impossible within the context of a specific message. In such cases, the Standard would permit compliance with the duty to disclose the firm’s name through a link to a display that makes all required disclosures. Note: The NAR Code of Ethics does not modify or trump any VREB disclosure requirements pertaining to electronic communications Article 15 and Standards of Practice 15-2 and 15-3 - Revised Article 15 REALTORS® shall not knowingly or recklessly make false or misleading statements about other real estate professionals, their businesses, or their business practices. Standard of Practice 15-2 The obligation to refrain from making false or misleading statements about other real estate professionals,’ their businesses, and their business practices includes the duty to not knowingly or recklessly publish, repeat, retransmit, or republish false or misleading statements made by others. This duty applies whether false or misleading statements are repeated in person, in writing, by technological means (e.g., the Internet), or by any other means. Standard of Practice 15-3 The obligation to refrain from making false or misleading statements about other real estate professionals,’ their businesses, and their business practices includes the duty to publish a clarification about or to remove statements made by others on electronic media the REALTOR® controls once the REALTOR® knows the statement is false or misleading. NAR Rationale: The amendments to Article 15, and to Standards of Practice 15-2 and 15-3, establish that even in cases where a real estate professional may not be a REALTOR®'s "competitor", the duty to refrain from knowingly or recklessly making false or misleading statements still applies. For instance, a REALTOR® engaging in appraisal might not be the competitor of a REALTOR® engaging in property management, but one would still be barred from knowingly or recklessly making false or misleading statements about the other. Questions? Contact Peggy Lynch, Director of Professional Development and Broker Services at plynch@rarealtors.com or 804.422.5006 L

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The REALTOR® Store Stop by the REALTOR® Store for the latest real estate merchandise, including these useful open house products:

(Visitors Please Register & Seller Requests Registration), business card pocket. Registration forms include the Federal Do Not Call disclaimer.

New 30 ft. Pennant Flag $11.00 These bright, permanent, multi-colored 30 ft. flags are an attention-grabber for an Open House.

Home Information Center Refrigerator Magnet $12.00 In bright red or navy blue. Includes home feedback forms, Take One/Leave One business card slots, a pen and a place for informational flyers.

Open House Guest Register $30.00 Registration forms gather vital real estate information for visitor follow-up. Includes 150 Registration Entries, Tent Card

$5.00 OFF

A wide array of Open House signs and riders are also available, and run in cost from $2.75 to $39.99.

Redeem this coupon for $5.00 off a total purchase of $35.00 or more at the RAR REALTOR® Store

Don’t forget to leave a business card after each purchase as an entry for the REALTOR® Store monthly drawing.

8975 Three Chopt Rd. Richmond, VA CODE: LSTD3_11 Expires 4/31/11

Weatherproof Info Box $20.00 Easy to install and attaches to any yard sign. Made of a translucent, durable plastic design. Features a self-closing lid, mounting hardware and holds 75 sheets of paper.

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Past winners include: Susan Cullen, Scott Glass, Richard Hanson *Drawings held the last day of each month. Winners will be notified on the following business day via phone or email. Must be a member to win.

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