Listed Magazine 2023

A MAGAZINE OF THE RICHMOND A S S O C I AT I O N O F R E A L T O R S®

LISTED

RAReal to rs .com

DECEMBER 2023

In this issue: The Year in Review and A Look Ahead Circle of Excellence Honorees New Learning Platform for Members AI and Real Estate

LISTED

Table of Contents A S S O C I AT I O N N E W S Upcoming Events

F E AT U R E President’s Letter The Year in Review and A Look Ahead President-Elect’s Letter

PA R T N E R S H I P F O R H O U S I N G A F F O R D A B I L I T Y Looking back on 20 years as the REALTORS®’ nonprofit

G O V E R N M E N T A F FA I R S Join the RPAC Elite What ADUs Can Do for You and Your Clients

P R O F E S S I O N A L D E V E LO P M E N T HOME of VA: Credit Inequality & Housing Access Workshops for REALTORS® 2023 Leadership Development Academy Circle of Excellence New Learning Platform for Members AI and Real Estate

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

Annual subscription rate for non-members is $25.

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

MAGAZI N E

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Listed Magazine is published by: The Richmond Association of REALTORS® 8975 Three Chopt Road Richmond, VA 23229 EDITOR-IN-CHIEF Hannah Baumer Marketing Coordinator ADVERTISING & SPONSORSHIP Kellie Whitlow 804.422.5009 kwhitlow@RARealtors.com PUBLICATION DESIGN Punch PRINTING & PRODUCTION Kinker Press, Inc. COVER PHOTO Bridget Hazel COVER PHOTO LOCATION Dover Hall Office: 804.422.5000 Fax: 804.422.5088 Web: RARealtors.com

Copyright © 2023. 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®.

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

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Association News U P COMING EVENTS

Installation Reception

RE Expo

TUESDAY, DECEMBER 12, 2023 | 5PM – 7:30PM

OCTOBER 22, 2024

The Jefferson Hotel

Greater Richmond Convention Center

Golf Tournament and Spring Fling APRIL 24, 2024 Magnolia Green Golf Club

R AR /CV R MLS H OLI DAYS

USEFUL URLS

Please note that RAR and CVR MLS offices will be closed in observance of the following holidays:

RAR Website RARealtors.com

Christmas | December 25 and 26, 2023 New Year | January 1, 2024

(Bill Pay & Registration)

RARealtors.com/account

Martin Luther King Day | January 15, 2024 Good Friday | March 19, 2024 Memorial Day | May 27, 2024

Stock Library for REALTORS® RARealtors.com/MarketingContent Consumer-Facing Website WeAreTheR.com

Juneteenth Day | June 19, 2024 Independence Day | July 4, 2024 Labor Day | September 2, 2024 Thanksgiving | November 28 and 29, 2024

U P COM I NG D U E S BILLI N G DATES

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Membership Account

Item

Billing Date

Due Date

Q1 2024 MLS Fees

December 5

before 5PM December 29

Advocacy RARealtors.com/advocacy REALTORS’ Nonprofit PHARVA.com CVR MLS Technology RARealtors.com/MLStechnology CVR MLS Rules & Regulations resourcecenter.cvrmls.com

Q2 2024 through Q1 2025 MLS Fees

March 5

before 5PM April 15

Virginia Real Estate Board www.dpor.virginia.gov/Boards/Real-Estate

2025 Annual Association Dues

October 3

before 5PM October 31

Virginia REALTORS® VirginiaRealtors.org

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2 02 3 RAR L E A D E RS H I P

PRESIDENT Kristin Beran Krupp

LAST-MINUTE TA X TIPS

IMMEDIATE PAST PRESIDENT Dare Tulloch

With the end of the year approaching, this is a good time to consider tax deductible expenses for 2023 and weigh the benefit of expediting early 2024 anticipated purchases in order to deduct them from 2023 taxes. Some of the expense items REALTORS® can usually deduct are: PRESIDENT-ELECT Joan Dorsey

VICE PRESIDENT Shanna Story

2 02 3 BOARD O F D I RECTO RS

Rhonda Carroll Jenni Comer Jenn Cox Blake Eudailey Melissa Grohowski Dakia Knight Daphne MacDougall Scott McClaine Stephanie Prentice Monica Rawles Scott Shaheen Karen Smith

» Advertising » Legal and Professional Fees » Dues and Subscriptions » Meals and Entertainment » Cell Phone » SentriLock Lockbox Fees » Broker Fees

RAR members and CVR MLS users can see and print a receipt for 2023 Association and MLS-related expenses by logging into their online account and clicking on View Paid and Unpaid Invoices. Be sure to check with a tax consultant/accountant if you have questions concerning the deductibility of an expense.

Compliance with the Tax Reform Act of 1993, as amended by the Tax Cuts and Jobs Act of 2017, requires that the portion of dues attributable to lobbying and political activities at the local, state and federal levels of government be considered nondeductible for income tax purposes. The estimated portions allocated by the Richmond-, Virginia- and National REALTOR® Associations for lobbying on behalf of real estate interests are listed below. These figures should be communicated to your tax consultant.

2024 ESTIMATED NON-DEDUCTIBLE PORTIONS OF DUES RAR: 6.2% or $13.95 *

John VanderSyde

» Education Expenses » Office Supplies » Client Gifts » Internet » Mileage » Postage and Delivery Costs

VR: 10.9% or $20.82

NAR: 35% or $54.60*

Note that the NAR Consumer Advertising Campaign special assessment of $45 is exempt from the above formula and considered a deductible expense.

RARealtors.com

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President’s Letter

BY KRISTIN KRUPP

T

his year has passed much too quickly.

It feels as if one minute I was drafting this letter and my installation remarks, and in the next moment, I am looking back on the year that was 2023.

As we all know, this has been a challenging year for our industry. Because of a profound lack of inventory, we have experienced one of the most difficult housing markets in our region since the great recession. At the national level, class action lawsuits have necessitated changes within our MLS. And revelations of a toxic culture within the National Association of REALTORS® have damaged the REALTOR® brand. Not to acknowledge these challenges would be to ignore reality.

But what is also true is that many of our members have not only persevered, they have thrived.

Demand for homes in metropolitan Richmond remains strong; this demand reflects the high quality of life that continues to attract new residents to our region. New residents mean new opportunities for creative innovation and

growth. Our region is projected to continue to grow throughout the remainder of this decade; this is good news.

More good news is the fact that the brand of our local association remains strong. I am proud to say that the Richmond Association of REALTORS® continues to be seen as a leader among local REALTOR® associations as well as a leader in our community—with volunteers and staff working tirelessly to advance home ownership opportunities, especially for those who have not had these opportunities in the past. We have worked hard and we have enjoyed camaraderie all along the way.

In this letter last year, I noted that “what we do and how we do it matters, profoundly.” Those words have never been truer. I know many of you have worked harder than ever this year to help your clients better understand the value you bring not just to the transaction, but to them! Thank you for all that each of you do to serve the best interests of your clients, uphold the Code of Ethics, and honor the REALTOR® brand. Finally, thank you for the profound privilege of serving as your 2023 President.

RARealtors.com

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2023: The Year in Review... and a Look Ahead

BY HANNAH BAUMER

Highlights from a productive year: None of this would be possible without the REALTOR® members who volunteer their time, energy and ideas through the Governmental Affairs Committee and the RPAC Trustees.

G OV E R NM E N T AF FAI RS

1.

2.

Supported the Virginia Statewide Housing Needs Assessment.

Legalized the by-right accessory dwelling units (ADUs) in the City of Richmond.

This legislation requires the Department of Housing and Community Development to conduct a statewide housing study every five years to determine and address barriers to a healthy real estate market.

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3.

4.

5.

6.

Repealed the City of Richmond’s parking mandate, supporting the addition of dense, infill housing.

Funded a study to examine the impacts of zoning on land value and real estate tax policy.

Interviewed 15 candidates for local and state office.

Endorsed Boards of Supervisor candidates in Chesterfield, Goochland, Hanover, and Henrico.

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CV R M LS N EW TEC H N OLOGY In June, CVR MLS dipped its toes into the AI world with the release of Restb.ai (pronounced “ress-bee”). Restb.ai uses computer vision and AI technology to analyze listing photo content. Within seconds, Restb.ai analyzes your listing photos capturing room types, unique features, styles, conditions and even compliance to MLS rules. Details such as flooring type, room lighting, fireplaces and stainless-steel appliances, are all captured as data tags. By analyzing the data tags within each photo, Restb.ai can identify and select the room caption and create detailed photo descriptions highlighting the room’s features.

CV R M LS MON TH LY MON ITO R The CVR MLS Monthly Monitor provides Central Virginia Regional Multiple Listing Service users with updates, product highlights, training opportunities, market data, compliance tips, and other noteworthy news affecting real estate professionals in our MLS. This newsletter is emailed to users on the third Thursday of each month.

E D UCAT I O N OVER

MA RKETING CA MPA IG N OVER

150

500

CLASSES

CREDIT HOURS

180

8

CLASSES designation/ certification

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HOURS

HONOREES

of pre-broker education with the Broker Fast Track program

in the Circle of Excellence Program

The 2023 Consumer Campaign focused on expanding the stock photography available to members.

The library was expanded this year to include updated photos of Richmond landmarks.

RARealtors.com/ MarketingContent

ON-DEMAND eLearnings available at Learning.RARealtors.com

Relaunch of the Leadership Development Academy

Town Hall offerings with Attorney Michael P. Lafayette

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E V E NTS

R PA C B R I C K U N V E I L I N G JANUARY 13, 2023 This event was held for investors who gave $2,500 to RPAC in 2022. They are honored with their name engraved on a brick outside of RAR’s main entrance.

RAR GOLF TOURNAMENT AND SPRING FLING AT M A G N O L I A G R E E N | A P R I L 2 6 , 2 0 2 3 RAR’s Golf Tournament and Spring Fling Cocktail Reception at the beautiful Magnolia Green Golf Course were great successes. Tournament players competed for prizes, and all members were invited to join the Spring Fling reception to enjoy beverages, appetizers, and great music.

R E T R E N DS | O C TO B E R 4 , 2 02 3 This year RAR welcomed back Dr. Lawerence Yun, NAR Chief Economist, to provide an economic update. Leigh Brown followed his presentation, speaking on how REALTORS® can and should articulate their value proposition.

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THE PA RTNERS H IP FOR HOUSIN G A FFORDA BILIT Y

R PA C A P P R E C I AT I O N R E C E P T I O N | NOVEMBER 30, 2023 This annual reception is held in recognition of RAR’s RPAC Investors and their commitment to the Association’s advocacy work. Every year, RPAC’s Fair Share ($99+) and Major ($250+) Investors are invited to share a cocktail and break bread with area elected officials.

1.

In July, PHA was selected by the Robert Wood Johnson Foundation to complete a three-year research project on policies that help close the racial wealth gap.

2.

3.

4.

The Housing Resource Line helped connect families experiencing housing instability to more than $300,000 in financial assistance to remain permanently housed.

On January 25, 2024, PHA will celebrate its 20th anniversary at the third annual ‘State of Housing Event’.

PHA is undergoing an organizational rebrand and website redesign that will be unveiled at the 20th anniversary celebration.

I N S TA L L AT I O N R E C E P T I O N AT T H E JEFFERSON HOTEL | DECEMBER 12, 2023 RAR’s leadership for the following year is installed during this reception. In 2023 we celebrate the installation of Joan Dorsey as the 2024 RAR President.

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A Look Ahead

BY JOAN DORSEY

H

ello. I’m Joan Dorsey and I am excited to serve as the 2024 President of the Richmond Association of REALTORS®.

I am honored to succeed Kristin Beran Krupp who served so admirably as our 2023 President. Kristin is the consummate real estate professional, so it came as no surprise that enhancing the professionalism of our members was one of her priorities.

I share that priority. In 2024, the Association will provide numerous opportunities for our members to increase their industry knowledge, hone their professionalism, and enhance their value proposition to sellers and buyers. We will continue to create innovative and timely educational programs. And

As we look to our role in the broader community, we will focus on the fall elections of City Council and a new mayor. Your participation in RPAC—REALTOR® Political Action Committee—allows us to support candidates who support private property rights and who understand how important a healthy housing market is to our regional economy. We will continue to advocate for the development of more housing units across the full spectrum of price ranges, from affordable to workforce to market rate housing.

This coming year will not be without its challenges. But I have every confidence in my fellow REALTORS® and my Association: we will see and seize the opportunities presented within the challenges. This is our chance to be optimistic, to innovate and to flourish.

we will host a number of gatherings that will allow for networking and socializing. As those who know me know, I like to have a good time.

“

„

We will continue to advocate for the development of more housing units across the full spectrum of price ranges, from affordable to workforce to market rate housing.

RARealtors.com

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Partnership for Housing Affordability: Looking back on 20 years as the REALTORS®’ nonprofit B Y J O VA N B U R T O N

N

early 20 years ago, the Richmond Association of REALTORS® founded the Partnership for Housing Affordability (PHA) with a simple charge: to help raise awareness around the issue of affordable housing in our community. The fledgling organization served as a platform for REALTORS® to play a key role in fostering communities of opportunity throughout the region. Operating largely with support from RAR staff, PHA slowly carved a unique space in the nonprofit industry, building trust with local governments and other nonprofits along the way. PHA soon found its place with the creation of Affordable Housing Awareness Week (AHAW), a signature event that the organization would go on to host for 10 consecutive years. Comprised of a coalition of nonprofit partners, AHAW organized more than 4,500 volunteers and made repairs to over 350 homes.

Seeing the growing need for affordable housing in Richmond, PHA transitioned in 2017 to focus more on combating housing challenges through sound research, collaboration, and policy change. During

this transition period, the organization helped to incubate the Maggie Walker Community Land Trust and produced numerous studies that shed light on Richmond’s housing trends, aging in place for seniors, and changing demographics.

With the support of countless REALTORS®, PHA has blossomed into a well-respected nonprofit with committed staff and a track record that has created abundant opportunities for its future. Most importantly, PHA has positioned itself as the lead housing policy organization in the Richmond region, supported by a new mission, vision, and values.

As PHA approaches its 20th anniversary in 2024, it will be preparing for a new, more ambitious era— one that will build upon the successes of its past.

At its annual State of Housing Event on January 25th, 2024, PHA will celebrate 20 years by unveiling a new website, brand, and a first-of-its-kind regional policy agenda. Such achievements would not be possible without the selfless and patient support of REALTORS® throughout the years.

RARealtors.com

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Join the RPAC Elite

Many thanks to the 2023 RPAC Major Investors.

This list reflects only RPAC contributions received before September 16, 2023.

To become a member of the RPAC Elite, invest $250 or more in Richmond RPAC. Log in to RARealtors.com and look for the Invest in RPAC link on your member profile page.

RARealtors.com

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Golden R | $5,000

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RHONDA CARROLL One South Realty Group

JOHN FINN United Real Estate Richmond President’s Circle

CLAIRE FORCIER-ROWE BHHS PenFed Realty

LIBBY GATEWOOD Napier Realtors, ERA President’s Circle & Hall of Fame Member

TOM INNES RE/MAX Commonwealth

THOMAS JEFFERSON III Joyner Fine Properties Hall of Fame Member

LISTED | 2023

Golden R | $5,000

JOHN POWELL Long & Foster REALTORS® President’s Circle & Hall of Fame Member

KAREN SMITH RE/MAX Commonwealth Hall of Fame Member

MACK STRICKLAND Strickland Realty Company President’s Circle & Hall of Fame Member

JACK TORZA Long & Foster REALTORS® President’s Circle & Hall of Fame Member

SHANNA STORY Parr & Abernathy Realty, Inc President’s Circle & Hall of Fame Member

RARealtors.com

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Crystal R | $2,500

JENNIE BARRETT SHAW The Steele Group

DAWN BRADLEY Long & Foster REALTORS®

JENN COX Jenn Cox Realty LLC

ELMER A. DIAZ Cowan Realty LLC

JOHN O’REILLY BHG Base Camp President's Circle & Hall of Fame Member

CURT REICHSTETTER Two Dog Realty

CATHY SAUNDERS Long & Foster REALTORS®

DAPHNE MACDOUGALL The Steele Group

NATHAN HUGHES Sperity Real Estate Ventures

Sterling R | $1,000

DEE HALL Long & Foster REALTORS®

KATHERINE HAWKS The Steele Group

KIM ATKINSON Shaheen Ruth Martin & Fonville

TONDRA DEVAREL Shaheen Ruth Martin & Fonville

BLAKE EUDAILEY BHHS PenFed Realty

MELANIE HERRING Shaheen Ruth Martin & Fonville

ANNE INNES RE/MAX Commonwealth

KRISTIN BERAN KRUPP CHAUNTEY MOORE Shaheen Ruth Vylla Home Martin & Fonville

HEATHER PLACER MULL Shaheen Ruth Martin & Fonville

RYDER MULL Shaheen Ruth Martin & Fonville

KURT NEGAARD RE/MAX Commonwealth

SANDY OWENS RE/MAX Commonwealth

SUSAN SWINK Compass

DARE TULLOCH EXP Realty LLC

MARY ANN WHITE Napier Realtors ERA

REED WILSON The Wilson Group

KEITH SMITH Keith Smith Realty

RARealtors.com

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Governor’s Club | $500

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GAIL AILOR Fathom Realty Virginia

SARAH BICE Bice & Associates

MAHOOD FONVILLE Shaheen Ruth Martin & Fonville

JOHN MARTIN Shaheen Ruth Martin & Fonville

MONICA RAWLES Shaheen Ruth Martin & Fonville

ERNIE ROGERS Motleys Asset Disposition Group

SCOTT RUTH Shaheen Ruth Martin & Fonville

JASON SAUNDERS JASMINE Rashkind Saunders & Co SCOTT-BOOKER Timeless Realty Company

SCOTT SHAHEEN Shaheen Ruth Martin & Fonville

BO STEELE The Steele Group

KAREN STEPHENS Long & Foster REALTORS®

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MARY K MCDONALD Virginia Properties Long & Foster

Capitol Insider | $250

REGINA BANKS United Real Estate

CHRISTY BURTON OMARZAI Hometown Realty

PATRICE CARROLL Keller Williams Realty

JASON CIATTEO Joyner Fine Properties

NAT CROSS Realty Richmond

HOLLY DAVID Shaheen Ruth Martin & Fonville

PAULA LISA DAWSON One South Realty Group

JOAN DORSEY Long & Foster REALTORS®

SANDRA FRANCISCO BHHS PenFed Realty

WAYNE GAUTHIER Joyner Fine Properties

JUDY FLAIG GRAFFUM ANNEMARIE HENSLEY Harvest Realty, Inc Compass

JASON HESTER Rashkind Saunders & Co.

LAURA JARRETT RE/MAX Commonwealth

NEVILLE JOHNSON Neville C Johnson & Associates, Inc

DAKIA KNIGHT ICON Realty Group

THOMAS ROSE Shaheen Ruth Martin & Fonville

CHRISTINA ROYAL Virginia Properties Long & Foster

CYNTHIA SAADY Fathom Realty Virginia

LEIS LINARES ICON Realty Group

RARealtors.com

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Capitol Insider | $250

BOYD SMITH RE/MAX Commonwealth

JAMIE YOUNGER Virginia Properties Long & Foster

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TERRY TYSON RE/MAX Commonwealth

ANN VANDERSYDE Virginia Properties Long & Foster

JOHN VANDERSYDE Virginia Properties Long & Foster

ALEC WHITE Shaheen Ruth Martin & Fonville

Fair Share Investors | $99+ Missie Ailor Dusett

Candace Huneycutt

Jarred Nowell

Linda Terry

C John D'Amore

Charles Hunt

Missy Olds

George Thomas

Laurie Dalton

Terri Hunt

Dorothy ONeil

Monte Todd

Beth Dalton

Jessica Ingraham

Alexis Payton

Henri Tohme

Karla Davadi

Cathy Jacobson

Braxton Pollard

Ralph Toomey

Jane Davenport

Robin Jeffrey

Oscarina Pollard

Jennifer Trainham

Bret Derby

T. Graham Johnson

Pamela Pope

Lisa Trimmer

Judy Kilgour

Amy Potts

Renee Truehart

Kevin Kilgour

Stephanie Prentice

Rhonda Tucker

Jeanean Duke

Kyung Kim

Meg Price

Brant Tullidge

Holly Baker

Frederick Edwards

Sherry Kletzly

Robert Price

Kenneth Tyler

Rino Balducci

Ronald Glenn Evans

David Knickerbocker

John Prifrel

Cornell Urquhart

Jane Banks

Stephanie Evans

Susan Koechlein

Tony Proto

Trina VanStory

Jennifer Kramer

Kevin Puller

Janice Vaughan

Stephanie Kuper

Regina Randolph

Margaret Wade

William LaFratta

James Ransone

Shirley Wagner

April Lane

Kaz Rash

Jennifer Walker Nan Walters

Chris Alexandropoulos Britney Allen Michelle Altman Luis Amaya-Fogg Jennifer Amos Pamela Artis DJ Ashlock Catherine Auernheimer

Brent Beswick Charlie Bickel Mary Boese Selma Bowen

Kevin Currie

Briana Dickerson Gary Duke

William Ferguson David Ferguson Robert Firestone Susan Fisher

Renee Boyd

Linda Forem

Tamekia Lee

Bill Ratliff

Mark Boykin

Jan Forystek

Tywan Lee

Barbara Reagan

Virginia Ward

Mark Lehn

Michael Redavid

Shannon Warren

Ladonna Lewis

Heather Reichstetter

Walter Wash

Sharon Ligon

Kelly Rivers

Dorothy Wassenberg Stephen Wesson

Allen Bradley Lori Bradley

Sandra Francisco Mary Frediani

Shaquille Branch

Dara Friedlander

Elizabeth Branch

Charles Futrell

Dianne Long

Angela Roane Johnson

John Brockwell

Cristy Garcia-Kramer

April Lopashanski

Travis Robbins

Whit Brooks

Griffin Garnett

Jane Mashinski

Linda Beth Robbins

Luther Brown

Helen Garnett

Philip Mason

Kimberly Rollins

Reginald Brown

Lisa Gaus

George Massie

Susan Rucker

Robert Brown

Kim Gentil

Tony Mayfield

Emil Salib

Angel Campoverde

Melissa Grohowski

Angela McClaine

Mike Scelzo

Christy Carroll

Doris Gunn-Conner

Scott McClaine

Ann Schweitzer

Elizabeth Wilson

Regenia Carter-Pride

Susanne Haas

Teresa Mae McDowell

Holly Shaheen

Laneisha Winston

Christine Case

Deanna Hamaker

Craig McLeod

Zachary Sharper

Cynthia Wise

Patricia Chang

Amanda Hardesty

Brennan Mills

Erik Shipp

Benjamin Woodard

Alicia Chappell

Evelina Harris-Wilson

Emma Mitchell

Joshua Simpson

Jo Woodlief

Ken Chin

Wendy Hassouna

Scott Moeller

Carlisle Sims

Mateshia Wright

Brent Christian

Iris Hernandez

Linda Moody

Susan Snyder

Rita Wright

Sharon Coleman

Michael Hippchen

Teresa Moore

Kristine Spencer

Cynthia Wyatt Blake

Lacey Cooke

Patricia Hogan

Eric Morris

Stella Stanley

McKenzie Wymer

Maria Cordrey

Donna Holcomb

Michelle Mosby

Emily Still

Karli Younger

Crysta Cozelos

C Y Holley

Christine Mottley

Lisa Stone

Julie Crabtree

Mike Horne

Angela Nishnick

Chris Symeonides

Cassandra Zimmerman

F Thomas Cross

Wanda Huggins

Linda Noronha

Mario Ta

Ric Westervelt Bernice White Christopher Whitney Charles Williams Ray Williams Kevin Williamson

Cindy Zuleta

RARealtors.com

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What ADUs Can Do for You and Your Clients

BY JOH GEHLBACH

T

he City of Richmond is leading the region in zoning reform, encouraging infill development, and streamlining permitting. This year, with support from the Richmond Association of REALTORS®, the city legalized accessory dwelling units (ADUs) in every zoning district that allows for single-family homes.

As a result of this change, a homeowner can build an attached in-law suite or convert a carriage house without going through a lengthy and confusing special use permitting process.

An ADU is a small, self-contained residence with its own kitchen and bathroom that shares a single-family lot. They can be located within, attached to, or detached from the main residence. These secondary dwellings create affordable rental opportunities, enable multi-generational living, and provide options to older homeowners looking to downsize and age in place. In addition to these community benefits, ADUs also add value to an existing home. A study on ADU construction in Los Angeles found that homeowners who choose to build them increase their property values by 46% on average.

Outside of the city, other localities in the Richmond region also allow accessory dwelling units; however, a homeowner must obtain a conditional use permit

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LISTED | 2023

to do so. RAR’s Government Affairs staff compiled a quick reference guide outlining each jurisdiction’s ADU allowances for your use. To find out definitively if building an ADU is feasible on a specific lot, contact the local Planning Department.

HOME of VA: Credit Inequality & Housing Access

As

BY RACHEL TERRELL

community leaders, REALTORS® have a unique role in identifying, preventing and addressing discriminatory practices in real estate.

In September 2023, the Richmond Association of REALTORS® hosted the latest interactive exhibit from Housing Opportunities Made Equal of Virginia (HOME)—Credit Inequality & Housing Access.

The exhibit examined how credit disparities and dual credit markets of mainstream and fringe financial services have contributed to the racial homeownership gap, the profound consequences of these practices and how to change these systems of inequity. HOME’s Executive Director, Thomas Okuda Fitzpatrick, led an accompanying discussion on the work that HOME is doing to improve the housing landscape in the region.

Over the course of two weeks, dozens of RAR Members demonstrated their commitment to fair housing by educating themselves on the longstanding history of inequity within the credit and lending industries.

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Workshops for REALTORS®

BY GRACIE PECK

In

2023, the Richmond Association of REALTORS® hosted a variety of special workshops focused on skill building for REALTOR® members. These professional development opportunities allowed RAR members to connect with their peers to learn more about themselves and the impact they have on others.

P U R POS E & STRE N GTH S STR E N GT H F IN D E R WO RKS H O P

INCLUSION WORKSHOP FOR REA LTORS®

In partnership with the Women’s Council of REALTORS® Richmond Network, RAR hosted a strength finder workshop. Participants learned about the Strength Finder philosophy and developed their skills in influencing and inspiring others.

The RAR Diversity, Equity and Inclusion (DEI) Committee hosted a workshop facilitated by the Virginia Center for Inclusive Communities (VCIC).

This training focused on identifying and avoiding discrimination and bias as a real estate professional.

TO STAY U P-TO- DATE ON FUTURE WORKS HOPS OFFE RE D BY YOUR ASSO C I AT ION , V ISI T TH E P ROGRAM S CALE NDAR AT RA REA LTORS.COM .

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2023 Leadership Development Academy

BY GRACIE PECK

T

he Leadership Development Academy is designed to develop visionary, service-oriented REALTOR® members for professional, civic and community leadership roles.

Following a hiatus since 2020, the program returned in 2023 to a class of 18 REALTOR® leaders. The Leadership Development Academy was in high demand and attracted the largest applicant pool in the program’s history.

The program included: - Participation in the nationally recognized Dare to Lead program developed by Brené Brown - A special luncheon with Leigh Brown to discuss the value of REALTOR® leaders - Meeting at NAR Headquarters to hear from Association leaders about federal policy considerations - The completion of a civic project for a nonprofit of their choice

We are excited to celebrate our graduates and look forward to watching them succeed as REALTOR® leaders in Central Virginia.

2023 LDA Photo from left to right: Sarah Freeman, Jess Houser, Feras Almomani, Beth Stafford, Catherine Morphis, Tara Adams, Lacey Kearney, Jimmette Jones, EmJay Johnson, Jasmine Booker, Daune Zook, Justine Rice, Sam Plott, Braxton Pollard, Will Guza, Regina Banks, Melanie Herring. Not pictured: LaDonna Lewis.

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Circle of Excellence HONOREES

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KHALIYAH BARAKHYAHU EXP Realty LLC

ANNE BRINKLEY Honey Tree Realty

NANCY CHEELY The Steele Group

NAT CROSS Realty Richmond

TONDRA DEVAREL Shaheen Ruth Martin & Fonville

CLAIRE FORCIER-ROWE BHHS PenFed Realty

SARAH FREEMAN Long & Foster REALTORS®

LIBBY GATEWOOD Napier Realtors, ERA

MELISSA GROHOWSKI Long & Foster REALTORS®

LAURA JARRETT RE/MAX Commonwealth

DAKIA KNIGHT ICON Realty Group

KRISTIN BERAN KRUPP BETH LANE Metropolitan Shaheen Ruth Real Estate Inc Martin & Fonville

KRYSTYL LEONARD Encompass Realty

ROBIN LEVEY Long & Foster REALTORS®

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LADONNA LEWIS ICON Realty Group

AMY LLOYD Coldwell Banker Avenues

BECKY MCNEER Shaheen Ruth Martin & Fonville

JANE MERLE Long & Foster REALTORS®

THERESA MORRIS Encompass Realty

JANET NOWLIN NextHome Integrity Realty

SANDY OWENS RE/MAX Commonwealth

SAM PLOTT Keller Williams Realty

PAMELA POPE Long & Foster REALTORS®

BETH K. ROBBINS United Real Estate Richmond

CONNIE G. RODRIGUEZ Compass

CHRISTINE RUDERSON CATHY SAUNDERS Long & Foster Lee Conner Realty REALTORS® & Associates, LLC

KAREN SMITH RE/MAX Commonwealth

DARE TULLOCH EXP Realty LLC

LAURA WAITE One South Realty Group, LLC

ELIZABETH WEIS Swell Real Estate Co

JAMIE YOUNGER Virginia Properties Long & Foster

DAUNE ZOOK Resource Realty Services

TINA WINN Shaheen Ruth Martin & Fonville

RARealtors.com

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New Learning Platform for Members

BY GRACIE PECK

On March 1, 2023, a new learning platform was launched at Learning.RARealtors.com.

This learning platform serves as a one-stop hub for all learning content available from the Richmond Association of REALTORS® and CVR MLS.

At Learning.RARealtors.com, you’ll find:

On-demand courses available 24/7 including Road Rules of CVR MLS

A video library with videos from RAR/CVR MLS Legal Counsel Michael P. Lafayette

All certificates of completion for any class taken since the launch of the platform

A page for each class that stores all class materials such as handouts or other resources

TO TAKE ADVANTAGE OF THIS MEMBER BENEFIT, VISIT LEARNING.RAREALTORS.COM.

RARealtors.com

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AI and Real Estate

BY ERIKA ALMSTEAD

AI

has been the buzz at every conference and industry event this year. Not a day goes by that we don’t hear of a new AI product poised to transform our day-to-day tasks, revolutionize our lives, and take over the world. Though it’s not new technology, AI wasn’t on most of our radars until OpenAI released ChatGPT to the mainstream in the fall of 2022. Since then, we’ve seen AI based technology explode, promising new possibilities in every industry.

The real estate technology industry, or proptech, continues to see AI technology evolve our workflow and redefine our procedures with a new AI product for almost every task.

In June, CVR MLS dipped its toes into the AI world with the release of Restb.ai (pronounced “rest.bee”).

Restb.ai uses computer vision and AI technology to analyze listing photo content. What does that mean?

Computer vision is a type of artificial intelligence that allows computers and software platforms to look at images similarly to a human and draw out meaningful information. Within seconds, Restb.ai analyzes your listing photos by capturing room types, unique features, styles, conditions and even compliance to MLS rules. Details such as flooring type, room lighting, fireplaces and stainless-steel appliances, are all captured as data tags. By analyzing the data tags within each photo, Restb.ai can identify and select the room caption and create detailed photo descriptions highlighting the room’s features.

Quality listing photos are the most important feature of your listing. In its 2022 Profile of Home Buyers and Sellers, NAR found that almost 50% of all buyers start their home search online and 96% use an online search tool during the process (NAR, 2022). Now, we can capture a detailed, digital story of your listing for potential buyers and their agents. Restb.ai captions and descriptions will feed out to IDX and third-party sites. The inclusion of these tags on a website can be used to support screen reader views, meeting the Americans with Disabilities Act (ADA) and Web Content Accessibility Guidelines (WCAG) requirements for assessible website access. Restb.ai’s translation of listing image features into data points provides availability to the visually impaired supporting accessibility and compliance.

While Restb.ai current features bring a new level of data to your listings, the future looks even brighter.

Down the road, we see listing remarks, photo searching functionality and even listing input all stemming from Restb.ai’s advanced technology.

So, before you upload your next set of listing photos, click on the Restb.ai checkbox in the Add/Edit photos in the Listing Input section.

If it seems a little uncomfortable to rely on technology for your listing captions, remember that these descriptions are fully editable by you. In fact, we highly recommend that you review the Restb.ai generated descriptions for accuracy and clarity. As impressive as AI technology is, and will continue to become, it requires the oversight of a human eye for accuracy.

The CVR MLS team will continue to follow the advancement of AI, and other technologies, to ensure that you have the leading-edge technology to support your real estate business.

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LISTED | 2023