August 2012 by Richmond Association of REALTORS®

Volume 7, Issue 2

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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 ®

INSIDE: • REALTORfest 2012 • Joint Appearance with Governors Allen and Kaine • Ways to Connect with RAR • Virginia Agency Law Changes • Cut-out Buyer Brokerage Brochure

From the

President Scott Ruth

Not Just Buzz Words “Sustainable,” “agile,” “relevant”—we hear and see these words often. For some these may be buzz words; but not for us at RAR. Rather, our goal is for the words “sustainable,” “agile,” and “relevant” to aptly characterize our efforts on your behalf. When you think about it, “sustainable” is just a quick way of saying “in it for the long haul.” That’s the goal we pursue on a daily basis as we run an efficient operation and safeguard the finances of the Association. And that’s the statement we made when we renovated our building earlier this year—we’re not going anywhere, we’re here for our members through thick and thin. It’s also the reason we focus so intently on governmental affairs: cash proffer policies, comprehensive plans, preservation of the Mortgage Interest Deduction—whether the issues are local, state, or national, the outcomes can have significant consequences for your business, for many years to come. Ultimately, our quest for sustainability depends on our ongoing relevance and our relevance depends on our willingness to be agile. As REALTORS® you understand this requirement better than most; because your clients are constantly demanding that you adapt to meet their changing needs. In just the past five years, most of us have made changes in how we prospect for clients, how we communicate with our clients, how we market their properties, even how we help close the transaction. You deserve a professional organization that is equally adaptable. That’s one of the reasons that earlier this year, RAR ramped up its communications efforts, especially social media. In addition to a completely revamped www.RARealtors.com, we now host additional websites such as www.WeAreTheR.com; we have a new and engaging Facebook page; we tweet strategically; and we seek your input on our blog. To learn more about all the different ways RAR seeks to interact with members, see the article on page 14. Of course, clients aren’t the only ones who can place demands on our industry; government is pretty good at that as well. As we all know, the agency law changed on July 1. But because we loaded up the June calendar with classes and we were aggressive in our outreach efforts, almost 30% of our members heeded our advice and better prepared themselves for the statutory changes, by taking the mandatory RSA class before not after July 1. And any member who wishes to take the class again as a refresher may do so at no cost. Active political engagement, a strong social media presence, and quickly providing excellent educational opportunities are just a few of the many examples of how RAR seeks to serve its members. Because “agile,” “relevant,” and “sustainable” aren’t just buzz words; they’re the characteristics of the Richmond Association of REALTORS® and its members.

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L I S T ED Volume 7, Issue 2 2012

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 Kate Loveluck

Marketing & Public Relations Manager

FEATURE

Advertising & Sponsorship Lisa Garcia

REALTORfest 2012

(804) 422-5009

There’s No Place Like Home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

marketing@RARealtors.com

D E PA R T M E N T S

Printing & Production Proforma Graphic Information Services

Association News RPAC Recognition Event, Appointments, Dues Deadlines . . . . . . . . . . .

Graphic Design Sattler Creative

CVR MLS Tempo FusionTM New Features . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Member Services Featured FAQ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CVR MLS Training Schedule September - November . . . . . . . . . . . . . . . . . . . . .

The publisher does not endorse advertised products

6 7 8

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 Editor or the Director of Communications and Marketing.

Government Affairs

REALTOR® members pay annual dues with a one-year

Governors Allen and Kaine Joint Appearance . . . . . . . . . . . . . . . . . . . . . . . . . 10

subscription included within their dues. Sponsor and

Special Connect With Us! . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Cut-out Tri-fold Brochure Buyer Brokerage Agreement . . . . . . . . . . . . . . . . . . . . 19 YPN/RVA RAR’s Young Professionals Network . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21

affiliate members receive a subscription to the magazine as part of their member dues. Annual subscription rate for non-members is $25.

Office:

(804) 422-5000

Fax:

(804) 422-5088

Web:

www.RARealtors.com ®

Professional Development Virginia Agency Law Changes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Education Calendar September - November . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

Meet The Board of Directors David Adams and Michael Maloney . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24

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Copyright 2012. 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®. Postmaster: Please send change of address to ®

Listed Magazine, Richmond Association of REALTORS , 8975 Three Chopt Road, Richmond, VA 23229

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ASSOCIATION NEWS

Richmond RPAC Donor Recognition Event September 27, 2012, 5:30p.m. to 8:30p.m. at Maymont Park, 1700 Hampton St., Richmond, VA. If you contribute $99 or more to RPAC before September 14th, you will be admitted free to the RPAC recognition reception. Those who contribute $250 or more will be invited to attend a private dinner with local and state elected officials following the reception. For more information, please contact Elizabeth Hancock Greenfield at 804-422-5023. REALTORFest October 23, 2012 at the Greater Richmond Convention Center REALTORfest is a day-long educational event for REALTORS® that features inspirational speakers; opportunities for earning educational credits by attending sessions on timely topics; a continental breakfast, seated luncheon, and a happy hour; and a trade show with ample products and services of interest, as well as networking opportunities. Be sure to register by September 28, 2012, to save $15 on the registration fee. Before September 28: $20 After September 28: $35 At the door: $40 Visit www.REALTORfest2012.com for more information.

Useful URL’s

RAR Member Tom Innes Achieves RPAC Hall of Fame Status In appreciation of his dedication and generosity to the REALTOR® Political Action Committee, the National Association of REALTORS® has honored Tom Innes, of

RAR Home Page RARealtors.com

2012 RAR Leadership

Scott Ruth

Linda Staples Terry

Cheryl Hamm

Mark Joyner

2012 President

2012 President-Elect

2012 Immediate Past President

2012 Vice President

Directors David Adams Dawn Bradley Nancy Cheely Gary Duda Amy Enoch John S. Finn, Jr.

RE/MAX Commonwealth, with a place in the elite RPAC Hall of Fame. Those awarded with this honor have displayed leadership that has helped to ensure that the REALTOR® Party will continue to be a formidable force from the court house to the White House. Each RPAC Hall of Fame member’s name is engraved on the RPAC Hall of Fame Wall, located on the roof deck of NAR’s building in Washington, D.C. RAR Member Cathy Noonan Appointed as Virginia Real Estate Board Member This summer, Governor McDonnell

Carol Haley Woody Hogg Tom Innes Lummie Jones Michael Maloney Scott Shaheen Bill White

announced the appointment of Catherine M. Noonan as a Virginia Real Estate Board member. RAR would like to extend congratulations to Cathy for achieving this honor. Cathy is a graduate of the RAR Leadership Development Academy class of 2011. Dues Schedule September 3 – Quarterly MLS Dues Posted (Due by 5pm September 28) October 1 – Annual REALTOR® Dues Posted (Due by 5pm October 31)

CVR MLS Rules and Regulations http://cvrmls.myismart.com

Virginia Real Estate Board www.state.va.us/dpor/reb_main.htm

RAR Government Affairs RARealtors.com/government-affairs

Virginia Association of REALTORS® www.varealtor.com

RAR Blog RARealtorsblog.com

Grassroots Action Center Realtoractioncenter.com

Local Home Search www.Homes.Richmond.com

We Are the R Consumer Site WeAreTheR.com

The Real Estate School RARealtors.com/education

RAR Facebook Page Facebook.com/RARealtors

Bill Pay Site RARealtors.com *Hover over Account Manager and click View/Pay Invoices

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CVR MLS

Tempo Fusion™ Offers New Features to CVR MLS Members John Hicks Technical Education Specialist

While you may know that CoreLogic® released the new Tempo Fusion™ this spring, you may not have taken a moment yet to explore the new browser neutral MLS. While Fusion™ and Tempo™ function very similarly, there are some excellent new features in Fusion™ that make it worth giving a test drive.

New Features with Fusion™ Either system you choose to work in will provide the essentials of the MLS. But, there are some useful new features within Fusion™. Have you tried searching for a listing on your iPad? Download CoreLogic Fusion Experience in your App Store to try it out today.

Real-Time Changes Both systems are rooted in a common database with two views. This means that when a listing is added, changed, or deleted in either interface the database is updated and visible from either Fusion™ or Tempo™. You do not need to worry about duplicating work, or about misinformation. Changes are made in real-time, in a common database, the moment the information is entered.

Run Multiple Searches When using Fusion™, you can open multiple tabs and toggle between searches. In the event that you have more than one client on the line in need of information, this feature is incredibly helpful. Simply click on the “+” directly under the CoreLogic® logo on the left-hand side, and you can begin a new search that is completely unique. When you are finished performing a search, just click the “x” on the tab to remove that tab.

My Folder My folder is used to hold listings you are interested in viewing. This folder is not static data, but rather fluid, and therefore the listings maintain their current status as changes are made to them in the system, whereas listings that are saved through a regular search are not automatically updated. In order to add a listing to the Folder, scroll your cursor over the listing and click “Add to Folder”. To delete an item from your Folder, click the number in the far left corner of the list or the marker associated with the listing and then click “Remove from Folder”. Continued on page 8

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What’s Missing?

You. Every year, there are legislative proposals that place the real estate industry at risk. Whether it means increased government regulation of your business, decreased housing opportunities for potential buyers or expanding local governments’ authority to constrain new construction, the threats are real. Only because of past RPAC investments have the REALTORS® been able to successfully fight off these attacks on your livelihood. But we can only fight with your help.

Make your RPAC investment now to ensure our continued success. Go to www.RARealtors.com today! Richmond Association of REALTORS® 8975 Three Chopt Road • Richmond, Virginia 23229 • Ph 804.422.5000

Member Services Featured FAQ: Q: How do I receive notifications that my lockbox has been opened? A: Whenever a key container is opened on a lockbox, the key records the showing information and sends it to the Supra network. In order to have the Supra system send you an email when someone opens up one of your lockboxes, it is necessary to manage your lockbox inventory at the Supra website www.supraekey.com. After you have created a user ID and password for your Supra account, you will be ready to add your lockboxes to your Supra inventory by including the lockbox serial number, shackle code and the MLS number where the lockbox is located. In addition to receiving emails when another agent shows your listings, you can also select to receive emails when another agent sends feedback on any of your listings. Detailed instructions are available at www.RARealtors.com. Under the homepage menu item “CVR MLS,” click on “Lockbox & Key Info.”

Supra Email Notifications The Supra system defaults to NOT send any email notifications. Therefore, if you wish to receive email notifications when

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Now More Than Ever

agents show your listings or send feedback, please be sure to confirm your notification settings on the SupraWEB site as outlined below. In addition, if you have changed the type of SupraKey you use or have replaced your SupraKey, you will need to reset your notification preferences. Just follow these simple steps: 1. Log on to the SupraWEB * via www.supraekey.com 2. From the navigation bar at the top of the screen, click on SETTINGS. 3. Select GENERAL EMAIL and proceed to choose which type of notifications you prefer (a check mark appears in the selection box). 4. Scroll to the bottom of the screen and SAVE your selections. *If this is the first time you have accessed the SupraWEB site, you will need to register on the site creating your own login and password for your account. 5. Go to www.supraekey.com and select the link ‘Click here to login to SupraWEB’ 6. Proceed to register & set up your account. If you have additional questions, please contact Supra support at 877-699-6787.

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September – November 2012

Fusion continued

MLS Training Schedule

Message of the Day SEPTEMBER 12

RE Stats (2 hours CE/PL Electives)

9 am – 11 am

MLS for Appraisers (3 hours CE/PL Electives)

9 am – 12 pm

Instanet Workshop: The E-Deal (2 hours CE/PL Electives)

1 pm – 3 pm

OCTOBER

Search Matches

Instanet Workshop: The E-Deal (2 hours CE/PL Electives)

9 am – 11 am

Tempo MLS Road Rules (1 hour CE Ethics, 1 Law/2 hours PL Electives)

9 am – 11 am

Tempo Effective Prospecting (3 hours CE/PL Electives)

9 am – 12 pm

Instanet Forms (1 hour CE/PL Electives)

1 pm – 2 pm

Instanet Transaction Desk (1 hour CE/PL Electives) 2 pm – 3 pm

DocBox (1 hour CE/PL Electives)

Authentisign (1 hour CE/PL Electives)

Need a quick list of homes in a particular area? Try out Fast Find – Location. This function is available on the Home Page of Fusion. Just click the tab for Location and enter minimal search criteria to generate quick and easy results.

1 pm – 2 pm 2 pm – 3 pm

Instanet Workshop: The E-Deal (2 hours CE/PL Electives)

9 am – 11 am

Tempo CMA (3 hours CE/PL Electives)

9 am – 12 pm

Tempo Digital Cameras (2 hours CE/PL Electives) 1 pm – 3 pm

Tempo iMapp (2 hours CE/PL Electives)

1 pm – 3 pm

For more information or to register, please contact: The Real Estate School at (804) 422-5000, Email: edu@RARealtors.com or log onto www.RARealtors.com and click on “Education”.

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When searching for listings in Fusion™, your results are automatically counted as you enter criteria into each search field. You no longer have to click count to generate matches, but instead enter criteria and click/tab out of that search field for a fresh count of listings matching your search.

Fast Find – Location

NOVEMBER

Located in the top right corner of the page is the Message of the Day, where important information from CVR MLS is now hosted and available for you to retrieve at any time. New messages in the form of a pop-up will appear once you are logged into the system; however, once you have closed out of the pop-up, it will not appear again until new information is added by CVR MLS.

We hope this guide to the changes and features in Fusion™ will help you as you explore the new system. If you have any questions about the functions and features of Fusion™, please email them to mls@RARealtors.com.

If you like Fusion™ you may also like… Kurio™, a product that has been available for some time, is a great option if you are simply looking to search MLS listings on your iPhone, Droid, Blackberry, or other internet capable device. You can also email listing reports to clients and contact other REALTORS® via phone or email with just one click. Your membership includes free access to this service. To create an account, visit: http://mobile.cvrmls.com/reg L

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

Kate Loveluck, Marketing and Public Relations Manager Richmond Association of REALTORS® Gov. Kaine addresses the REALTOR® audience

Governors Allen and Kaine Appeal to REALTORS® as Advisors on Housing Issues his spring, the Richmond Association of REALTORS®, in cooperation with the Southside Virginia, Fredericksburg, Charlottesville, and Williamsburg Associations of REALTORS®, hosted a joint appearance with former Virginia Governors and Senatorial candidates George Allen and Tim Kaine at the Hilton Short Pump. The event drew over two hundred REALTORS® to hear each candidate’s platforms and approaches to fostering a healthy housing industry. “Housing is right in the center of economic recovery,” former governor Tim Kaine stated, while discussing his ideas for strengthening the U.S. economy and reducing the federal deficit. Some highlights of the platform he discussed included a focus on infrastructure development, promotion of capital accessibility for business start-ups, strategic budget cuts to reduce the deficit, increased utilization of military veterans’ skills in the workforce,

T RAR President Scott Ruth Gives an Introduction for the Event

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Gov. Allen responds during a Q&A session

and a higher level of interparty cooperation. “We had to make large budget cuts during my term as Governor,” he said. “And that taught me how to do it well.” “I want to get thinner, but not weaker,” he added. Kaine proposed making two to three dollars of budget cuts for each dollar of revenue, based on prioritization and performance data. He reassured the REALTORS® in attendance of his commitment to protect the Mortgage Interest Deduction—an issue that has been weighing heavily on advocates for homeownership. Kaine credited REALTORS® as experts on the housing market and appealed to the REALTOR® community to act as his ‘educators’ on issues affecting the real estate industry. Former Governor George Allen took the stage second, opening with the remark, “I love working with REALTORS®, because they always have their fingers on the pulse of the community.” He referred to REALTORS® as his advisors and partners. “Listening to REALTORS® helps me to be a better public servant,” he added. Allen then explained how the promise of the American Dream can be restored by creating more jobs. The platform he discussed weighed heavily toward tapping further into the country’s available natural resources, reducing taxes for businesses, and offering choices in taxes and healthcare. “We want to send a message to the world that America is open for business again,” Allen said. “I aim to provide the political will to unleash our resources, and create an industrial renaissance,” he added. Allen then explained his positions on tax and healthcare reform. “I want to give taxpayers the choice to either stay with the same tax code, or move to a flat rate tax,” he said. He voiced his determination to repeal ‘Obamacare’ and touted the benefits of a health savings account, emphasizing its merits of choice and personal responsibility. The event was hosted as a benefit to RAR members, as a way to help them remain informed and engaged in legislation affecting their industry. L

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A Rocketts Landing Representative Speaks to a Member Outside the Ballroom

Members greet one another before the appearance

Gov. Allen greets members after his appearance

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This year, on

October 23rd,

the Greater

Richmond Convention Center will become the ‘Emerald City’ and REALTORS® will gather there from across Richmond and neighboring regions for a day packed with education, inspirational speakers, networking opportunities, and fun. The theme of this year’s REALTORfest is “There’s no place like home”-- bringing together themes of finding your way through adversity, cultivating strengths, and learning how to be a “wiz” in real estate. The morning will open with keynote speaker, University of Virginia Head Football Coach Mike London. Coach London’s philosophy and the respect he has garnered from his players, students, coaches and peers earned him the title of 2011 ACC Coach of the Year. REALTORS® will be inspired by his message and formula for success, both on and off the football field. Continuing education and post licensure courses will be held throughout the day, and a day-long tradeshow will provide a hub for networking and discovering technologies and resources that will

help grow REALTORS’® businesses. REALTORS® in attendance will enjoy a continental breakfast, luncheon, happy hour, hors’ d’oeuvres, and live music. A new feature of REALTORfest this year will be a guided afternoon walking tour through the nearby arts district and historic Jackson Ward. This portion of the event will be hosted by RAR’s Young Professionals Network. Join YPN and take a closer look at some inspired development efforts in the city. Major Richmond RPAC donors, who have made a contribution of $250 or more to RPAC by October 15th, will enjoy free parking at the event. Don’t miss the opportunity to enjoy this perk, while supporting RPAC and the REALTOR® legislative agenda. Register by September 28 and pay only $20. After September 28, the fee increases to $35 ($40 at the door). For the latest news on REALTORfest 2012, visit www.REALTORfest2012.com. L

CE/PL Sessions covering timely topics Networking with fellow industry professionals Day long tradeshow featuring the latest products and services Continental breakfast, luncheon, happy hour, hors d’oeuvres, and live music

Connect With Us! Bethany Cleveland, Electronic Communications Specialist Richmond Association of REALTORS®

here are plenty of successful people who’d beg to differ, but the reality is that Communications have undergone a revolution. Consumers have indicated that the days of silently listening, while being communicated to, are over. They want to talk back, join in conversations, pose questions, and share experiences. One of the main goals of the Communications department at RAR is to engage with members -- to find all of the avenues in which members prefer to engage and to utilize these avenues to interactively connect with them. This year, the Communications staff at RAR has taken the opportunity to expand RAR and CVR MLS networks to reach a larger scope of members. Here is a breakdown of the ways in which members can now connect with RAR and the CVR MLS online. Be the first to know the latest news, events, and other important information by engaging with us in one or more of the following outlets:

Blog.RARealtors.com The new blog provides a more interactive experience. On this site, enjoy the “Tips of the Week” videos to help address frequently asked questions about topics such as checking credits on the DPOR site, using the Supra Lockbox and Key, and integrating new products and services. Download and save important updates and information from CVR MLS or the Association. Most importantly, on the blog, members have the opportunity to comment and make suggestions to improve the overall communications and services that RAR provides.

eNews RAR eNews offers current updates on a weekly basis to members by email. This outlet is used to distribute some of the most vital messages about current events, Association and industry updates, CVR MLS updates, emergency information, membership updates, billing reminders, special offers and promotions, and other details that members should know.

Facebook.com/RARealtors NEW Website – RARealtors.com The newly updated, redesigned RARealtors.com provides essential information to RAR members, as well as events and updates of interest. The homepage of the site alone hosts constantly updated information on upcoming events, classes, seminars, association and industry news, CVR MLS updates, and more. If you feel adventurous, dig deeper into the site for an archive of eNews, or explore the new Agent and Broker Resource pages that host many useful documents and links. If you have any newsworthy stories about REALTOR® civic engagement, accolades, or other accomplishments, navigate over to the Share Your Story page under News and Events and send us the details. We think of our members as exceptional people and professionals, who are constantly working to improve the communities they serve. We seek to sing their praises.

As Facebook has evolved over the years, business pages have changed as well. While revamping RAR’s efforts to connect with members through social media, the Communications staff at RAR launched a new, business-oriented Facebook page, and invited members to connect by “liking” the new page. Some members have connected to the new page, while some have remained connected to the old page, which is no longer being maintained. If you feel like you haven’t seen anything new pop up in your newsfeed about RAR in a long time, it is a safe bet that you are still connected with the old page that is no longer in use. Our new page constantly delivers updates, so please take a moment to ensure that you are connected to the correct page. Simply type in the URL: Facebook.com/RARealtors and click the ‘Like’ button to see frequent updates and posts from the official RAR page in your newsfeed. Continued on page 16

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Connect continued

Twitter.com/RARealtors

Be sure to also check out the following:

RAR tweets! The most exciting aspect of the RAR Twitter page is our minute-to-minute tweets during events. We receive a tremendous response from members engaging on Twitter during events; many of whom are not able to attend the event in person, but still want to know what’s going on. Follow us @RARealtors to receive quick 140-character updates. Please share your news articles and Instagram photos with us!

REALTORfest2012.com – Your source for all information and updates on RAR’s biennial education and tradeshow event.

Youtube.com/RARealtors If you are a more visual person, enjoy a recap of the Joint Appearance event with former Governors George Allen and Tim Kaine, learn more about how to navigate the redesigned website, discover what our instructors Gary Duda and Dave Snipes have in common, and simply get to know us better by seeing some soon-tobe familiar faces on the new RAR YouTube channel.

Linkedin.com/company/ Richmond-association-of-realtors Join our professional network. Recently, we added the Richmond Association of REALTORS® to the list of companies on Linkedin. This is an excellent way to connect with other members of the Association and join discussions on topics of interest.

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WeAretheR.com – Showcasing the 2012 CVR MLS marketing campaign, this site educates consumers on how and why a REALTOR® is essential to the home buying and selling process. The site contains information on the difference between a real estate agent and a REALTOR®, information for consumers on the Buyer Brokerage Agreement, video testimonials from REALTOR® clients, and links for consumers to search homes and find REALTORS®. We Are the R is also on: Facebook.com/WeAretheR Facebook.com/YPN.RVA – The hub for connecting with other Young Professionals at the Association. This is a great place to find out what networking events are happening in the area, as well as an assortment of news and industry tips. We are always on the alert for new ways to connect with our members. Please let us know if we are missing out on an excellent opportunity for engagement. Send thoughts and suggestions to: rarcommunications@rarealtors.com L

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PROFESSIONAL DEVELOPMENT

Virginia Agency Law Changes Peggy Lynch, GRI Director of Professional Development and Broker Services

ver the last two decades, Agency law in Virginia has evolved. Prior to 1989, agency and representation in real estate transactions were governed by common law. In 1989, legislation was passed requiring disclosure of representation. Buyer representation and disclosure of dual and designated representation were added to the Virginia Code in 1995. In 2007 Limited Service representation was recognized and in July 2012, the most recent legislative changes went into effect. Among them: • Real estate agents and brokers must now have written brokerage agreements with the consumers they represent. • New disclosure forms are now required. • Real estate agents and brokers must complete a three hour Residential Standard Agency (RSA) class during their license renewal cycle.

To facilitate the implementation of the new brokerage agreement requirement, several new listing and buyer brokerage forms have been developed and added to Instanet, TEMPO™ and Fusion. They are: • CVR MLS Exclusive Right to Represent Buyer Agreement (Standard Agency) • CVRMLS Exclusive Right to Represent Buyer Agreement Short Form---Standard Agency (No Dual or Designated Agency Disclosure) • CVRMLS Residential Listing Agreement (Standard Agency) • CVRMLS Limited Service Listing Agreement (Limited Svc Agency) • CVRMLS Residential Listing Agreement (For Non-Agency/Independent Contractor Relationship) A new Brokerage Agreement Workshop, developed and taught by Michael P. Lafayette, Esq., is now being offered by The Real Estate School. This class addresses the unique aspects of the various types of representation agreements and the specifics of the new forms. You can find more information about this class on the RAR website, www.RARealtors.com

Working with the Buying Public The written brokerage agreement requirement can present a challenge when working with prospective buyers. While the concept of Buyer representation is not new, the requirement that such relationships must be set out in writing is new to the general public. To help educate the public, RAR has developed a consumer facing brochure entitled Working with a REALTORc…The Buyer Brokerage Agreement. This brief, easy to understand brochure addresses the most common questions buyers have about these agreements and the benefits of working with an experienced and knowledgeable buyer representative. The brochure is available in TEMPO™, Fusion, and Instanet.

Mandatory Education Requirement Brokerage Agreements The most significant change for both REALTORSc and the buying public is the requirement that agents and brokers must enter into written brokerage relationship agreements with the parties they represent. A brokerage relationship may be an agency relationship or a non-agency relationship. In Virginia there are two recognized types of agency relationships, Standard and Limited Service. Independent Contractor is the only recognized form of a non-agency relationship. This form of representation should not be confused with the Independent contractor relationship an agent or associate broker has with their principal broker.

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All Virginia real estate licensees, including licensees affiliated with referral companies, must complete a three (3) hour course covering Residential Standard Agency (RSA) during their license renewal cycle. If you attended an RSA class at RAR prior to July 1 and either need or want to take the class again, you may do so free of charge. To register for an RSA class, you may call 804-422-5000 If you have any questions concerning the changes to Agency law or the new forms and disclosures, please email Peggy Lynch, Director of Professional Development Plynch@rarealtors.com or call 804-422-5006. L

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<< CUTAWAY TRI-FOLD BROCHURE

CUTAWAY TRI-FOLD BROCHURE >>

The Richmond Association of REALTORS® Young Professionals Network About YPN

Program panelists Jim Ukrop, Jane Ferrara, and Bill Martin

In 2011, RAR established its Young Professionals Network. YPN helps real estate professionals excel in their careers by giving them the tools and encouragement to become involved in four core areas: • REALTOR® associations – Attend REALTOR® conferences and pursue leadership roles with their local, state and national association • Real estate industry – Take an active role in policy discussions and advocacy issues; be informed about the latest industry news and trends

YPN members share a laugh during morning coffee

Larry Terry takes his seat

• Peers – Network and learn from one another by attending events, participating in online communication, and seeking out mentoring opportunities • Community – Become exceptional members of their community by demonstrating a high level of REALTOR® professionalism and volunteering for causes they feel passionate about RAR’s YPN periodically hosts events that are open to all RAR members at any age and experience level.

YPN members greet one another before the speakers begin

A couple of YPN ladies take their seats in the Atrium

2012 RAR YPN Selling Richmond Series On March 22nd, YPN kicked off the 2012 Selling Richmond series – a series of events bringing in various prominent Richmond professionals to give presentations on excellent selling points of Richmond as a hometown, what’s going on in the area now and what’s to come. The second event in the series, Richmond’s Past, Present and Future, took place on May 24th at RAR. This event featured speakers Bill Martin, Executive Director of the Valentine Richmond History Center; Jane Ferrara, Deputy Director and Chief Operating Officer for the City of Richmond Department of Economic and Community Development; and visionary leader Jim Ukrop. To join the RAR YPN and stay in the loop on future events and activities, sign up at: RARealtors.wufoo.com/forms/join-rarypn RAR YPN members can also stay connected and learn about upcoming events and other topics of interest by becoming a fan of RAR YPN on Facebook. Please visit: Facebook.com/YPN.RVA and click the Like button. L

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YPN committee members Dawson Boyer and Philip Innes

RAR board member Linda Terry arrives at the YPN event

YPN members gather in the Atrium before the program

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September – November 2012

RAR Education Calendar

SEPTEMBER 5 Agency (3 hours CE/PL RSA) 6 PL Mandatory (3 hours CE/PL Law, Agency, Ethics) 7 New Member Orientation MLS (3 hours CE/PL Electives) 10 Advanced Contract Writing (3 hours CE Contracts/3 hours PL Offer to Purchase) 10 Agency (3 hours CE/PL RSA) 11 Quadrennial Ethics (3 hours CE/PL Ethics) 13 CE Mandatory 8 hours (2 Fair Housing, 3 Ethics, 1 Law, 1 Agency, 1 Contracts) 14 CE/PL Electives 8 hours (CE-1 Law, 1 Agency, 2 Contracts, 4 Electives; PL-8 Electives) 17 Fair Housing (3 hours CE/PL Fair Housing) 17 Agency (3 hours CE/PL RSA) 17 Pre-Licensing-Broker Appraisal (17, 19, 21, 24, 26) 19 GRI 408 – Tax & Investment Strategies for Real Estate (7 hours CE/PL Electives) 19 Agency (3 hours CE/PL RSA) 20 Broker CE 8 hours (8 hours Broker Management) 21 Smart Phones (2 hours CE/PL Electives) 21 New Member Orientation MLS (3 hours CE/PL Electives) 24 REO: Responsibilities, Education, & Opportunities for RE Professionals (Credit Pending) 25 Agency (3 hours CE/PL RSA)

1 pm – 4 pm 8:30 am – 5 pm 9 am – 12 pm 9 am – 12 pm 1 pm – 4 pm 1 pm – 4 pm 9 am – 5 pm 9 am – 5 pm 9 am – 12 pm 1 pm – 4 pm 9 am – 5 pm 8 am – 5 pm 6 pm – 9 pm 9 am – 5 pm 9 am – 11 am 9 am – 12 pm 9 am – 5 pm 9 am – 12 pm

OCTOBER 1 Residential Lease Purchase (3 hours CE Contracts/3 hours PL Offer to Purchase) 4 PL Mandatory (3 hours CE/PL Law, Agency, Ethics) 5 New Member Orientation MLS (3 hours CE/PL Electives) 5 Agency (3 hours RSA Agency) 8 Commercial Transaction Workshop (3 hours CE Contracts/3 hours PL Offer to Purchase) 9 Agency (3 hours CE/PL RSA) 11 CE Mandatory 8 hours (2 Fair Housing, 3 Ethics, 1 Law, 1 Agency, 1 Contracts) 12 CE/PL Electives 8 hours (CE-1 Law, 1 Agency, 2 Contracts, 4 Electives; PL-8 Electives) 15 Agency (3 hours RSA Agency) 15 Agency (3 hours RSA Agency) 17 GRI 409 – Business Development (7 hours CE/PL Electives) 18 Buyer Brokerage Agreement Workshop (Credit Pending) 19 New Member Orientation MLS (3 hours CE/PL Electives) 22 Agency (3 hours RSA Agency) 23 REALTORfest 2012 25 Quadrennial Ethics (3 hours CE/PL Ethics) 26 Agency (3 hours RSA Agency) 29 ABR Core – Day 1 30 ABR Core – Day 2 30 Agency (3 hours RSA Agency) 31 Pre-Licensing-Broker Real Estate Brokerage (Nov. 2, 7, 8, 9)

9 am – 12 pm 8:30 am – 5 pm 9 am – 12 pm 9 am – 12 pm 9 am – 12 pm 1 pm – 4 pm 9 am – 5 pm 9 am – 5 pm 9 am – 12 pm 1 pm – 4 pm 8 am – 5 pm 1 pm – 4 pm 9 am – 12 pm 9 am – 12 pm 8 am – 5:30 pm 9 am – 12 pm 9 am – 12 pm 9 am – 5 pm 9 am – 5 pm 9 am – 12 pm 9 am – 5 pm

NOVEMBER 1 PL Mandatory (3 hours CE/PL Law, Agency, Ethics) 2 New Member Orientation MLS (3 hours CE/PL Electives) 5 Broker CE 8 hours (8 hours Broker Management) 6 Agency (3 hours RSA Agency) 8 CE Mandatory 8 hours (2 Fair Housing, 3 Ethics, 1 Law, 1 Agency, 1 Contracts) 9 CE/PL Electives 8 hours (CE-1 Law, 1 Agency, 2 Contracts, 4 Electives; PL-8 Electives) 12 HAFA: Home Affordable Foreclosure Alternatives

8:30 am – 5 pm 9 am – 12 pm 9 am – 5 pm 1 pm – 4 pm 9 am – 5 pm 9 am – 5 pm 9 am – 5 pm

(CE-3 Legal Updates, 1 Agency, 3 Elective;PL-3 Law, 4 Finance)

13 14 16 19 19 26 28 28 30

Agency (3 hours CE/PL RSA) 6 GRI 410 – The Code of Ethics IS Good Business (CE- 3 Ethics, 4 Electives; PL- 3 Ethics, 3 Electives) 8 9 New Member Orientation MLS (3 hours CE/PL Electives) 9 Agency (3 hours RSA Agency) 1 Quadrennial Ethics (3 hours CE/PL Ethics) Smart Phones (2 hours CE/PL Electives) 9 Pre-Licensing-Broker Exam Prep (and 11/29) 9 9 Effective Contract Writing (3 hours CE Contracts/3 hours PL Offer to Purchase) 9 Agency (3 hours RSA Agency)

pm – 9 pm am – 5 pm am – 12 pm am – 12 pm pm – 4 pm am – 11 am am – 5 pm am – 12 pm am – 12 pm

For more information or to register, please contact: The Real Estate School at (804) 422-5000 E-mail: edu@RARealtors.com or log onto www.RARealtors.com and click “Education”

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Meet the Board of Directors

Michael Maloney

David Adams Firm & Years in Real Estate I'm with RE/MAX Commonwealth in their Westgate (Short Pump) office, and have been a REALTOR® for over seven years. Designations I have my ABR, SFR, and am also a CDPE. Experience at RAR I have been serving on the Legislative committee for the past four years. I'm on the RPAC Board of Trustees and I am in my first year serving on the CVRMLS Board of Directors. How did you get involved in real estate? I have always had a real passion for real estate. I began as an investor and later decided to get my salesman's license. Despite the industry's ups and downs, I can honestly say I love what I do! Favorite Regional Tradition Monument Ave. Easter Parade and the Fan Christmas Tour Favorite Vacation Spot Caribbean cruises and Las Vegas Hobbies/Activities outside the office I consider myself a gadget freak and a movie buff. I also enjoy snow skiing and playing with my dogs.

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Firm & Years in Real Estate I’ve been in the real estate business for 20 years. I currently serve as Team Leader/Principal Broker for Keller Williams Realty Richmond West and I am Managing Partner for three other Keller Williams franchise offices in metro Richmond and Hampton Roads. Experience at RAR I’ve served on multiple committees through the years, including Grievance, Events, and Ethics. I’ve also served multiple terms on the RAR/CVRMLS Board of Directors. How did you get involved in real estate? I was investing in houses in the Fan District in the late 80s and early 90s and flipping them. I totally got the real estate bug and I was encouraged to get into the sales side by two close friends who were successful agents. I quit my advertising agency job and jumped right into real estate sales in 1993. My only regret through the years is that I didn’t do it sooner. Favorite Regional Tradition The Monument Avenue 10K. I’ve run it a number of times. The energy, live music and amazing vibe of the spectators make for a fantastic event. Favorite Vacation Spot I would have to say Paris. That’s where I spent my honeymoon 23 years ago and I’ve been there a number of times since. It‘s a fantastic city. Hobbies/Activities outside the office I have a weekend home in Virginia Beach and I love spending time on my power boat, sea kayaking, and I’m taking up fishing and crabbing. I also love snow skiing and biking.

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