March 2012 by Richmond Association of REALTORS®

Volume 7, Issue 1

w w w. R A R e a l t o r s . c o m

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: • New Marketing Campaign • RPAC Major Donors • The New RARealtors.com • CVR MLS Tech Fair

From the

President Scott Ruth

To Support and To Serve “To protect and to serve” is the motto of many a police force, belonging originally and most notably to the Los Angeles police department. Here at RAR, I would suggest that a slightly modified version of the motto succinctly captures what we’re all about—to support and to serve. The mission of the Richmond Association of REALTORS® is to “provide our members with the resources and services they need to conduct ethical, professional, and profitable businesses.” In short, we want to support you in your chosen profession, protect your ability to practice real estate, and on a daily basis provide excellent customer service to you. A number of initiatives are already underway to accomplish this mission. In February, we held a Tech Fair to showcase the wide variety of technology tools at members’ disposal and to highlight a new version of Tempo™ MLS which is cross-browser compatible and works on MACs. Additionally, the Tech Fair provided us with an opportunity to welcome members into the newly renovated headquarters, designed to make members feel more welcomed, more comfortable. Another exciting effort underway is the “We Are the R” marketing campaign that graces the cover of this edition of Listed and about which you can read more on page 12. With this marketing campaign, we hope to remind consumers—in an exciting and energetic way—that real estate is a complex business and that REALTORS® are the professionals best prepared to navigate these complexities. When you visit RAR, I hope you’ll pick up a “We Are the R” reusable bag and a bumper sticker—show your REALTOR® pride and help spread the word about the value of REALTORS®. As always, we have a number of exciting events planned for the year. On May 2, RAR will host a joint appearance between U.S. Senatorial candidates George Allen and Tim Kaine. And on October 23, REALTOR®fest returns, featuring keynote speaker Mike London. Finally, as professionals, each of us has a responsibility to stay abreast of what’s going on in our community as well as the industry. RAR provides us with ample opportunities to do both. On page 16, learn about the “Selling Richmond” series presented by YPN. Plan to take your continuing education classes at RAR this year, because we have significantly reduced fees for all classes. And make sure you’re prepared for upcoming changes to the agency law by taking the three hour mandatory agency course. The year is already off to a whirlwind; it’s going to get busier and more exciting with each passing day. It’s a great time to be in real estate and be involved at RAR. I look forward to working with my fellow leaders and the staff as we seek to support and serve each of you.

w w w. R A R e a l t o r s . c o m

L I S T ED • 2 012 I S S U E 1

L I S T ED Volume 7, Issue 1 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

Communications & Marketing Coordinator

FEATURE

Advertising & Sponsorship Lisa Garcia

New Marketing Campaign We are the R . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

D E PA R T M E N T S

Proforma Graphic Information Services

Lockbox Regulation Changes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CVR MLS Training Schedule April - June . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . RE Stats Navigator . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Graphic Design Sattler Creative

CVR MLS Instanet Solutions - TASKS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

marketing@RARealtors.com

Printing & Production

Association News Upcoming Events, Holiday Closings, Dues Deadlines . . . . . . . . . . . . . . .

(804) 422-5009

6 8 8 9

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 Editor or the Director of Communications and Marketing.

Government Affairs

REALTOR® members pay annual dues with a one-year

RPAC Last Year’s Major Donors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

subscription included within their dues. Sponsor and

Newly Elected Officials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

affiliate members receive a subscription to the magazine as part of their member dues. Annual subscription rate

Special

for non-members is $25.

RARealtors.com Gets an Overhaul . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

Office:

(804) 422-5000

YPN/RVA RAR Young Professionals Network . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

Fax:

(804) 422-5088

Web:

www.RARealtors.com

Professional Development

The Dynamic REALTOR® . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

CVR MLS Tech Fair . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

magazine may not be reprinted without the permission

Education Calendar April - June . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

of the Richmond Association of REALTORS®.

Changes to VA Agency Law . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

Postmaster: Please send change of address to

Listed Magazine, Richmond Association of REALTORS ,

Meet The Board

8975 Three Chopt Road, Richmond, VA 23229

Gary Duda and Carol Haley . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24

L I S T ED • 2 012 I S S U E 1

w w w. R A R e a l t o r s . c o m

ASSOCIATION NEWS

2012 RAR Leadership

Upcoming Events Affordable Housing Awareness Week April 23 – 28, 2012 Join 15 local non-profit housing organizations to ensure that everyone in the Richmond area has a safe, affordable place to call home.We need your help to build and repair homes for your neighbors in need. Sign up to participate beginning March 7 at www.AffordableHousingRichmond.com. REALTOR® Day at Homearama April 26, 9:30a.m. – 12:30p.m., at Summer Lake Join your fellow REALTORS® at Summer Lake for REALTOR® Day at Homearama. REALTORS® will be admitted free with a business card and enjoy a breakfast from 9:30a.m. to 11:30a.m.

YPN Selling Richmond Series: Richmond’s Past, Present and Future May 24, 8:30a.m. – 11:00a.m., at RAR This event will feature 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 and philanthropist Jim Ukrop.

Useful URL’s

Joint Appearance with George Allen and Tim Kaine May 2, 2012, 9a.m. – 11a.m., at the Hilton Short Pump The Richmond Association of REALTORS®,

Scott Ruth

Linda Staples Terry

Cheryl Hamm

Mark Joyner

2012 President

2012 President-Elect

2012 Immediate Past President

2012 Vice President

Directors

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

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

in cooperation with the Charlottesville, Fredericksburg, Southside Virginia, and Williamsburg Associations of REALTORS®, present a joint appearance with U.S. Senatorial Candidates and Former Governors George Allen and Tim Kaine. October 23, 2012 REALTOR®fest Mark your calendar for this year’s return of REALTOR®fest – a full day of continuing education, technology training, and interaction with industry professionals at the Greater Richmond Convention Center. Holiday Closings RAR and CVR MLS offices will be closed on the following holidays:

May 28 (Memorial Day) July 4 (Independence Day) September 3 (Labor Day) November 22 and 23 (Thanksgiving) December 24 and 25 (Christmas) January 1 (New Year’s Day) Dues Schedule March 1 – Quarterly MLS Dues Posted (Due by 5pm March 30) June 1 – Quarterly MLS Dues Posted (Due by 5pm June 29) September 3 – Quarterly MLS Dues Posted (Due by 5pm September 28) October 1 – REALTOR® Dues Posted (Due by 5pm October 31)

RAR Home Page www.RARealtors.com

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

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

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

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

Virginia Association of REALTORS® www.varealtor.com

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

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

Local Home Search www.Homes.Richmond.com

L I S T ED • 2 012 I S S U E 1

w w w. R A R e a l t o r s . c o m

L I S T ED • 2 012 I S S U E 1

CVR MLS

Instanet Solutions

Tasks By John Hicks Technical Education Specialist

Instanet™ Solutions has become a completely cloud-based real estate transaction system. From document creation and transaction management, to complete online document storage and distribution, as well as electronic signatures, Instanet™ Solutions does it all. And now a new component, called Tasks, adds features that make it even more effective. The new Tasks feature is a simple tool, but it does a lot. Think of it as the ability to create a built in checklist of all the things that need to be done to successfully complete and process the marketing of a listing or the closing of a sale. You probably have this on a sheet of paper in your file or written on the outside of the folder, but now you can build it into Instanet™ and manage your entire workflow right on your PC. Setting up a task for a transaction is easy. You might create a task called Final Walk Through. You schedule a due date and time, set up an email or text message reminder to yourself, and even assign or share the task with another agent in your office, if they are part of the transaction. You can even have Tasks notify participants by email when the task is completed. To make the feature even simpler to use, under Settings you can create Task Templetes. These are common tasks that you use

L I S T ED • 2 012 I S S U E 1

repeatedly. Your Final Walk Through task template might be automatically set to occur 4 days before closing. When you add it to your transaction, it will fill in the due date and email reminders for you. For your convenience, Instanet™ Tasks comes with 69 built-in task templates for common items that are part of most transactions. Perhaps the best feature of Instanet™ Tasks is the ability to create Activity Plans. These are collections of the Task Templates that you typically include in a particular type of transaction file. For example, you could gather all the task templates you might use for a typical new Residential Single Family Listing file into an Activity Plan, and name it My New Listing Plan. When you open a new listing transaction in Instanet™, you can assign your plan and it will automatically set up all your tasks, dates and reminders. You can even assign an Activity Plan to a Transaction Type so that the tasks are automatically included every time you start a New Residential Listing Transaction. You can still go in and add some tasks that might be unique to that file, or adjust some that might be a little different; but what a time-saver! Tasks can be used to manage your transaction workflow in two ways. You can simply go to Tasks and view all your task items from all transactions, sorted by date or other filters. This allows you to see what you have to do today, tomorrow, this week, or this month. Or you can work on your tasks within each individual transaction, on a client-specific basis. Either way, Tasks helps you manage and complete the myriad of steps that are needed to efficiently and effectively serve your customers and complete your transactions. For further instruction, Instanet™ has provided an easy to follow 30-minute prerecorded webinar, called Activity Plans, Task Templates and To Do or Checklist Management. You can find it by logging into Instanet™ and clicking on Free Training on the bottom menu. L

w w w. R A R e a l t o r s . c o m

L I S T ED • 2 012 I S S U E 1

April – June 2012

MLS Training Schedule APRIL 16

MLS for Appraisers

Instanet Workshop: The E-deal

9 am – 12 pm

(2 hours CE/PL Electives)

9 am – 11 am

Doc Box (Credit Pending)

9 am – 10 am

Authentisign (Credit Pending)

10 am – 11 am

Instanet Forms (Credit Pending)

1 pm – 2 pm

Transaction Desk (Credit Pending)

2 pm – 3 pm

Lockbox and Lockbox Key Regulation Changes With the large number of available properties and upsurge in market activity, the number of Lockbox key violations has increased as well. The CVR MLS rules and regulations provide that all property showings must be arranged through the listing

MAY 9

agent. So unless the listing agent showing instructions indicate Lockbox go direct or Lockbox call

Tempo Digital Cameras (2 hours CE/PL Electives)

9 am – 11 am

Seller directly, you must contact the listing agent before using your lockbox key to access any listing. This is required even in the case of vacant listings.

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

The fine for the first offense is $500.

1 pm – 3 pm

In 2011, the CVR MLS Board of Directors approved a revision to the Supra Lockbox and

Instanet Workshop: The E-deal (2 hours CE/PL Elective)

Keyholder Rules. The rule was revised to require

9 am – 11 am

that the Supra Lockbox serial number be entered into a new Tempo™ field called Supra LB Serial #, within 3 days of the entry date of the listing.

JUNE

So, when a Seller requests that a lockbox be installed on their property, the serial # must be

Tempo iMapp (2 hours CE/PL Electives)

entered into Tempo™ within the required time

1 pm – 3 pm

frame. Rentals, listings located outside the CVR MLS Jurisdiction, and listings submitted to CVR

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

MLS under a reciprocal agreement with another

1 pm – 3 pm

MLS are exempt from this requirement. The fine for failing to enter the Supra lockbox serial # within three days of listing entry is $250. If you have any questions concerning lock-

To register, call the Education Department at 804-422-5016

box or MLS rules and regulations, please call

or log onto www.RARealtors.com and click on "Education”

804.422.5004 to speak with an MLS representative.

L I S T ED • 2 012 I S S U E 1

w w w. R A R e a l t o r s . c o m

By John Hicks Technical Education Specialist

RE Stats Navigator is a dynamic real estate market trends tool. It provides market information for every level real estate practitioner, from the novice to the highly sophisticated market analyst. Understanding how it is designed and what the purposes are of the different components can go a long way toward making it both practical and profitable. Here are some tips to help. There are essentially three components to RE Stats Navigator: The Key Dashboards, the Key Reports and the Summary. 1. The 6 Key Dashboards are tools to help brokers and agents research and track market information and the data that is compiled behind the reports. Market Trends is by far the most commonly used of these dashboards. 2. The Key Reports in the lower left corner are the simplest market-useable materials and the easiest for the average customer or client to grasp. It provides market data in simple oneyear Market Graphs or Performance Distribution spreadsheets; using a variety of common indices such as Units, Average Price, Average Asking vs Sold Price, and DOM. When you create a search, these reports fill in based on the search results. For example: Search area 22, Single Family, Resale for one year, then go to Market Graphs and select Units. When you click on the Go button, you get a simple one-year graph that looks like this: The graph produced will be simple to show, simple to read, and simple to discuss with a customer.

3. The Summary may be the most useful of all the RE Stats components. This is the page that initially displays when you first open RE Stats. It is completely preformatted, and the report simply fills in the information that results from your search. (Remember that when you first go into RE Stats, it is looking at the entire MLS). But perhaps the most practical of all the tools in the Summary are the three automatic reports located at the bottom: Housing Stats, Inventory Analysis and Trend Metrics.

They are nicely designed in a quality presentation format. In fact, copies of some of these reports are placed on www.RARealtors.com every month. The good news is that you can print the entire report, or just the pages you need. An easy way to learn how to use these and add them to your client presentation is to run a search that covers your basic market area, perhaps Chesterfield or Henrico - Single Family, and print all three reports. Look them over, select which pages work for your customers, and from then on only print those few pages. Select pages by holding down the Ctrl key and clicking on the ones you want. Then, click Submit. If you keep your search simple and know which pages you want to use, you can be in and out of RE Stats with what you need in just a few minutes. Here is a sample of the Trend Metrics Sold Price page:

4. For Windows 7 users, there is an excellent program called Snipping Tool that allows you to easily capture a screen shot of any graph or chart as an image that you can then use in any publication. One final tip on searches: Keep them general. Single family in Hanover or Henrico, or perhaps just area 22 or 44 is usually enough criteria. You can run searches with greater detail, but the more total numbers there are in your statistics, the more reliable they are. L

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

$5,000

RICHMOND ASSOCIATION OF REALTORS

Golden R $5,000

Join The Real Estate Elite

Tom Jefferson

Jack Torza

Many Thanks To Last Year’s RPAC Major Donors

Sterling R $1,000 To be recognized on this page as a member of the Real Estate Elite, simply make a contribution of $250 or more to Richmond RPAC. Log in to www.RARealtors.com and look for the RPAC contribution link on your member profile page.

Katy Allenbaugh-Richards

Jody Korman

Nathan Hughes

Tom Innes

Karen Smith

Bill White

Governor’s Club $500

David Adams

Jackie Atiyeh

Bob Barton

John Farrell

Kurt Negaard

John O’Reilly

RAR President Scott Ruth and Past President Karen Smith with Governor Bob McDonnell during VAR's RPAC major donor reception

L I S T ED • 2 012 I S S U E 1

w w w. R A R e a l t o r s . c o m

Capitol Insider $250

New Richmond Area Elected Officials Wes Atiyeh

Richard Bower

Dawn Bradley

Nancy Cheely

Hank Cosby

John Daylor

Marianne Donahue

Blake Eudailey

John Finn

Larry Foster

Nancy Frazier

Dare Friedlander

Delegate Peter Farrell Delegate Peter Farrell was elected to fill the seat vacated by Delegate Bill Janis. Delegate Farrell represents the 56th House of Delegates district. The district covers all of Louisa County and parts of Henrico, Goochland and Spotslyvania Counties. This is his first time holding elected office. Experience: Vice-Chairman of the Henrico GOP Committee and has served as a legislative aide to former Senator Kenneth Stolle.

Wayne Gauthier

Eleanor Goode

David Gould

Cheryl Hamm

Occupation: Business Development – Recast Energy Education: University of Virginia, B.A. in Government Originally From: Alexandria, VA Currently Resides: Henrico, VA

Woody Hogg

Jeff Huff

Anne Innes

Philip Innes

Earl Jackson

Neville Johnson

Lummie Jones

Jean Longest

For more information on Delegate Farrell visit his website at http://delegatefarrell.com/.

Senator Tom Garrett Bill Mattox

Mary K. McDonald

Jim Napier

Monica Rawles

Scott Ruth

Cathy Saunders

Paige Shaheen

Scott Shaheen

Senator Tom Garret was elected to the newly created 22nd Senate district. The district covers all of Amherst, Appomattox, Buckingham, Cumberland, Fluvanna, Prince Edward, and Goochland Counties and parts of the City of Lynchburg and Louisa County. Experience: Served in the United States Army; former Commonwealth’s Attorney Occupation: Attorney Education: University of Richmond, B.A., J.D. Originally From: Atlanta, GA

Boyd Smith

Karen Stephens

Sue Tepper

Larry Terry

Currently Resides: Louisa, VA For more information on Senator Garrett visit his website at http://votetom.net/.

Linda Staples Terry

Not pictured: Gail Ailor and Leroy Vaughan

w w w. R A R e a l t o r s . c o m

L I S T ED • 2 012 I S S U E 1

Marketing Campaign

In cooperation with the Southside Virginia Association of REALTORS®, the Richmond Association of REALTORS® has kicked off a fresh marketing campaign for 2012 to strengthen the REALTOR® brand and promote awareness among consumers regarding the important roles a REALTOR® plays throughout the home buying and selling process. The concept of the campaign is a series of role-descriptive words, all ending in the letter “R” – the letter spotlighted in the official REALTOR® trademark. The three words initially featured are: “advisoR,” “navigatoR,” and “supporteR.” In each ad, the copy spotlights one of these specific roles a REALTOR® plays, and explains some ways in which a REALTOR® fulfills this role. Although this campaign will include print ads, electronic billboards, and online banner ads, it will also depend heavily on the involvement of members. Throughout the year, reusable

L I S T ED • 2 012 I S S U E 1

tote bags and bumper stickers with the campaign’s catchphrase, “We are the R,” will be distributed for member use. Electronic marketing materials-- email signature banners and logos, will also be available for members to download from the Tempo™ sidebar. These materials will help point consumers to the campaign website, WeAreTheR.com, where they can find information on the buying and selling process, learn how a REALTOR® can help them through the process, watch candid video testimonials from REALTOR ® clients, and find links to the Central Virginia Regional MLS listings and agent roster on Homes.Richmond.com. Additional items featuring campaign artwork are available for purchase online at cafepress.com/WeAreTheR. Please help invigorate this campaign by spreading the word and pointing clients to its website. In turn, it will remind them of what you have to offer as their greatest asset in a home buying or selling transaction. L

w w w. R A R e a l t o r s . c o m

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

w w w. R A R e a l t o r s . c o m

Now More Than Ever

L I S T ED • 2 012 I S S U E 1

www.RARealtors.com

Gets an Overhaul

By Kate Loveluck, Communications & Marketing Coordinator

he Richmond Association of REALTORS is pleased to introduce its newly updated website, with a fresh new look, updated content, and intuitive, user-friendly site mapping. To better serve its members, RAR has redoubled its efforts to provide content on the new website that is current, informative, and simple to navigate. One of the first changes you will notice is that the site is no longer divided

L I S T ED • 2 012 I S S U E 1

into password protected and non-password protected sections. No login is necessary to browse through the new site. As you will see on the homepage, current news and events are organized in a cleaner, more attractive fashion. Information is clearly divided by topics of interest. Courses are simple to browse and register for. Resources and archives are fresh, and best of all, there is now a built-in site search function to help you find exactly what you’re looking for.

w w w. R A R e a l t o r s . c o m

Member Services

RICHMOND ASSOCIATION OF REALTORS

FAQ’s Q:

Where are the RAR and CVR MLS membership forms located?

A: All RAR and CVR MLS membership forms are located on RARealtors.com. From the RAR home page, hover over the top menu item “About RAR,” and click on the link labeled, “How to Join.” CVR MLS membership forms are also located on RARealtors.com. From the home page, hover over the top menu item “CVR MLS,” and click on the link labeled, “How to Join.” Q:

How do I receive notifications that my lockbox has been opened?

One important feature that has changed on the new website is course information and registration. Rather than courses appearing in a calendar form, they are now listed on the Register for a Course page, with additional information and direct links to register. Association news and publication archives will be readily available and up-to-date under News & Events. A new feature that has been added is the News Room, where members are encouraged to submit newsworthy stories and events they would like to share with other members or the public. This includes special events, awards/achievements, notable REALTOR ® civic engagement stories, and other topics of interest to REALTORS® and homebuyers/sellers.

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.” Q:

While the new site is a significant upgrade and RAR staff has worked diligently toward its overhaul, it is RAR’s goal to continue to enrich its members’ website and ensure that it remains an easily navigated source of current Association and industry information. L

w w w. R A R e a l t o r s . c o m

How do I check how many credits I have?

You can check your credits by going to DPOR’s website: http://dpor.state.va.us/regulantlookup and searching by name or license number.

L I S T ED • 2 012 I S S U E 1

The Richmond Association of REALTORS® Young Professionals Network About YPN In 2011, RAR established its Young Professionals Network. YPN helps young 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; • 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 2012 RAR YPN “Selling Richmond” Series On March 22, YPN kicked off the 2012 “Selling Richmond” series – a series of events featuring prominent Richmond professionals with presentations on excellent selling points of Richmond as a hometown, what’s going on in the area now, and what’s to come. The first event of the series was “The Top Five Coolest Things About Living in Richmond”, featuring guest speakers Peter Farrell (Virginia House of Delegates, 56th District), Susan Winiecki (Editor-in-Chief of Richmond Magazine), Frazier Millner (Director of Advancement & Patron Communications for The Richmond Symphony), and Megan Schultz (Event Director for Richmond Sportsbackers). The next event, “Richmond’s Past, Present and Future”, will take place on May 24th, from 8:30a.m. to 11a.m. at RAR. This event will feature 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 and philanthropist 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. L

L I S T ED • 2 012 I S S U E 1

w w w. R A R e a l t o r s . c o m

L I S T ED • 2 012 I S S U E 1

PROFESSIONAL DEVELOPMENT

The Dynamic Role of the REALTOR® By Peggy Lynch, GRI Director of Professional Development and Broker Services

L I S T ED • 2 012 I S S U E 1

hange can happen abruptly or gradually over time. Regardless of the speed with which it happens, change is a constant in our lives. Thirty years ago, REALTORS® had almost exclusive access to information concerning market value and property availability. The home buying and selling public sought out real estate agents and brokers to gain access to that information. Today, technology and the proliferation of the Internet provide the public with almost limitless access to current listings and market data. This has

w w w. R A R e a l t o r s . c o m

Technology has enhanced the REALTOR’S® ability to quickly and accurately aggregate, filter, evaluate, post and disseminate large amounts of information.

resulted in a profound shift in the habits of the home buying public. According to the 2010 NAR Survey of Home Buyers and Sellers, ninety percent of home buyers used the Internet in their home search. Thirty six percent of home buyers looked online for properties for sale as their first step, compared to nineteen per cent who started the process by talking to an agent. Although many buyers now start their home search without a REALTOR ®, ninety percent of buyers who used the Internet to search for a home used the services of an agent when they initiated the purchase process. While the Internet can provide the public with copious amounts of property related information, the one thing it cannot do is interpret that data. Today’s REALTOR® serves as an educator and professional consultant performing the pivotal task of analyzing not only the market data but the personal information and facts unique to each buyer and seller. Technology has enhanced the REALTOR’S® ability to quickly and accurately aggregate, filter, evaluate, post and disseminate large amounts of information. The challenge over the last decade has been to keep up with all of the new and different software, services, and devices. CVR MLS users have access to a wide range of services and tools that increase the REALTOR’S® ability to perform detailed research and analysis of market information. IMAPP, RE STATS, rbiSTATS, and TEMPO™ tools, such as the CMA Wizard, can produce precise reports which enable the home buying and selling public to make well supported decisions. Home buyers and sellers turn to REALTORS® for their specialized knowledge and expertise. Complex legal and regulatory requirements, mortgage reform, market uncertainty and a plethora of short sales and foreclosures are the backdrop in our current marketplace. A REALTOR’S® experience and knowledge enables them to: • educate the client/consumer concerning the intricacies and potential risks inherent in their purchase or sale; • provide the client/customer with all of the facts and information resources necessary to make an informed decision • ensure that all contract documents are prepared in compliance with state and federal laws and regulations, and are a true and

w w w. R A R e a l t o r s . c o m

accurate reflection of their client/customer’s instructions Educators are always learning. For REALTORS®, ongoing professional development is essential to provide timely and quality advice and assistance in this challenging market. “If more education isn’t in your plans, it should be," according to “How to Work Smart” author Melinda Howard Erickson. Professional designations are one way REALTORS® can differentiate themselves and expand their spheres of knowledge. A combination of experience and certification courses has been proven to increase professionalism, as well as income potential. The Richmond Association of REALTORS® offers a number of designation courses for the residential sales professional. Among them: ABR®, Accredited Buyer Representative –The mark of excellence in comprehensive buyer representation services and expertise. CRS ®, Certified Residential Specialist ® – The Certified Residential Specialist (CRS) is the highest Designation awarded to sales associates in the residential sales field. It recognizes professional accomplishments in both experience and education. CRS ® Designees are experienced REALTORS ® who complete advanced training in listing and selling, and meet rigorous production requirements. GRI®, Graduate Realtor® Institute – Members primarily involved in residential real estate who want to increase their knowledge and skills in a broad array of technical subjects and the fundamentals of real estate should participate in the Graduate REALTOR® Institute program. The program also provides opportunities to develop important business contacts. The GRI® is a nationally recognized designation of the National Association of Realtors®. SFR®, Short Sales and Foreclosure Resource Certification – Agents and brokers with the SFR certification have obtained the knowledge to help buyers and sellers maneuver the complexities of distressed property transactions. To find out more about the wide range of classroom and online educational opportunities available to you as an RAR member, visit www.RARealtors.com, or call 804.422.5000. L

L I S T ED • 2 012 I S S U E 1

'Appy Hour' in full swing

The Central Virginia Regional MLS Tech Fair

n February 23, CVR MLS hosted a technology fair, which drew about 500 RAR and SVAR members. The event offered a full day of technology information sessions and demonstrations, technology and sponsor vendor visits, networking, refreshments, and prize drawings. Upon entering the building, each member was presented with a schedule of sessions for the day, a map of the building indicating where each vendor was located, and a stamp card to fill with stamps from each vendor in order to enter into prize drawings for technology gadgets, subscriptions, and various gift cards. Members entered the event in awe, as it was the first time many had seen the RAR building after it underwent some dramatic improvements and modernizations this winter. The event concluded with an ‘Appy Hour,’ which introduced members to useful apps they could download onto their smartphones, while the RAR Young Professionals Network conducted wine and craft beer tastings. The Tech Fair offered CVR MLS members a fun and engaging way to learn more about the many technology products available to them as benefits, and the newly renovated RAR headquarters, with its opened up spaces, proved to now be an optimal environment for hosting member events of this nature. L

Rocketts Landing presents their available properties

Members enjoy a break at noon to grab a bite to eat and chat with vendors

Attorney Tim Freshly, with Shaheen Law Firm, P.C., greets members in the Atrium Members attent an Instanet™ Solutions demonstration

L I S T ED • 2 012 I S S U E 1

w w w. R A R e a l t o r s . c o m

RAR's new Communications staff member Bethany Cleveland hands out bags at the door promoting the new marketing campaign

Members eagerly fill the Atrium for a preview of the new Tempo Fusion™

Representatives from RE STATS give demonstrations in the Computer Lab

Friends enjoy 'Appy Hour' together

A member consults his map of the newly renovated RAR building to find vendors

Barbara Woodburn, with Franklin Federal, chats with a member

Members sport their new “We Are The R” bags. (L to R) RAR member Mark Joyner uses his new tote bag while shopping in the REALTOR® Store, RAR President Scott Ruth shows off his new tote bag, RAR member Blake Eudailey carries his new “We Are the R” bag into the Tech Fair, Rachael Joyner gets a stamp on her vendor card before exiting a RE STATS demo. w w w. R A R e a l t o r s . c o m

L I S T ED • 2 012 I S S U E 1

APRIL 4

New Member Orientation MLS

CE/PL Mandatory

GRI 414 – Negotiation (optional)

9 am – 12 pm

(3 hours CE/PL Electives)

8:30 am – 5 pm

(3 hours CE/PL Law, Agency, Ethics) (7 hours CE Electives/4 hours PL Electives)

HAFA – Home Affordable Foreclosure Alternatives Program (ABR Elective)

8 am – 5 pm 9 am – 5 pm

RAR Education Calendar

April – June 2012

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

CE Mandatory 8 hours

CE/PL Electives 8 hours

New Member Orientation MLS

Broker Office Policy

Agency

Marketing Reboot – ABR Elective

Smart Phones

Effective Contract Writing

(2 Fair Housing, 3 Ethics, 1 Law, 1 Agency, 1 Contracts) (CE-1 Law, 1 Agency, 2 Contracts, 4 Electives; PL-8 Electives)

9 am – 5 pm 9 am – 5 pm 9 am – 12 pm

(3 hours CE/PL Electives)

8 am – 12 pm

(4 hours Legal Updates or Broker Management)

1 pm – 4 pm

(3 hours RSA Agency) (7 hours CE/PL Real Estate Related)

9 am – 5 pm 9 am – 11 am

(2 hours CE/PL Electives) (3 hours CE Contracts/3 hours PL Offer to Purchase)

9 am – 12 pm

MAY 8:30 am – 5 pm

CE/PL Mandatory

New Member Orientation MLS

Agency

VRLTA – 2012 VA Residential Landlord Tenant Act Update

CE Mandatory 8 hours

CE/PL Electives 8 hours

Broker CE 8 hours (8 hours Broker Management)

9 am – 5 pm

Broker Pre-Licensing and Finance

9 am – 5 pm

GRI 405 – Pricing, Listing, Marketing

Agency

Broker Town Hall

New Member Orientation MLS

Leasing Basics

Agency

Advanced Contract Writing

(3 hours CE/PL Law, Agency, Ethics)

9 am – 12 pm

(3 hours CE/PL Electives)

9 am – 12 pm

(3 hours RSA Agency) (6 hrs. CE/PL, credit pending)

(2 Fair Housing, 3 Ethics, 1 Law, 1 Agency, 1 Contracts) (CE-1 Law, 1 Agency, 2 Contracts, 4 Electives; PL-8 Electives)

(Continued on: May 16, 18, 21, 23) (7 hours CE/PL Electives)

9 am – 4 pm 9 am – 5 pm 9 am – 5 pm

8 am – 5 pm 1 pm – 4 pm

(3 hours RSA Agency)

9 am – 12 pm (3 hours CE/PL Electives)

(3 hours CE Legal Updates/3 hours PL Law)

9 am – 12 pm 9 am – 12 pm 9 am – 12 pm

(3 hours RSA Agency) (3 hours CE Contracts/3 hours PL Offer to Purchase)

9 am – 12 pm

JUNE 6

Agency (3 hours RSA Agency)

1 pm – 4 pm

CE/PL Mandatory

8:30 am – 5 pm

New Member Orientation MLS

Fair Housing

CE Mandatory 8 hours

CE/PL Electives 8 hours

GRI 406 – What Did I Agree To?

Agency

New Member Orientation MLS

Broker Pre-Licensing Real Estate Brokerage

(3 hours CE/PL Law, Agency, Ethics) (3 hours CE/PL Electives)

9 am – 12 pm 9 am – 12 pm

(3 hours CE/PL Fair Housing) (2 Fair Housing, 3 Ethics, 1 Law, 1 Agency, 1 Contracts) (CE-1 Law, 1 Agency, 2 Contracts, 4 Electives; PL-8 Electives) (CE-3 Law, 3 Contracts, 1 Electives; PL-3 Law, 3 Offer to Purchase)

9 am – 5 pm 9 am – 5 pm 8 am – 5 pm 1 pm – 4 pm

(3 hours RSA Agency) (3 hours CE/PL Electives) (Continued on: June 22, 25, 27, 29)

9 am – 12 pm 9 am – 5 pm

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”

L I S T ED • 2 012 I S S U E 1

w w w. R A R e a l t o r s . c o m

New Changes to Virginia Agency Law and Mandatory Education Requirement

This legislation includes the following provisions: a. All brokerage agreements must be in writing; b. Dual agency will be permitted only after an enhanced disclosure is given to both parties c. Effective July 1, 2012 all Virginia real estate licensees must complete a three (3) hour course covering Residential Standard Agency (RSA) during their license renewal cycle. There is no correspondence or online version of this required training. All training must be approved by DPOR and taken in a classroom setting. Education requirements for license renewal As of July 1st, if you have been licensed: Less than 2 years, you will need 30 hours PL education plus 3 hour RSA course. More than 2 years (Salesperson license) , you will need 16 hours CE education plus 3 hour RSA course. More than 2 years (Broker license), you will need 16 hours CE, 8 hours Broker Mgmt education plus 3 hours RSA course. Mandatory RSA Education Course If your license renews PRIOR to July 1, 2012 you should plan to take the required RSA course after your upcoming license renewal date.

w w w. R A R e a l t o r s . c o m

If your license renews AFTER July 1, 2012 you should register for an upcoming course at your earliest opportunity. Reminder: this training course is only available in a classroom setting, so opportunities to satisfy this license renewal requirement are limited. Effective July 1, 2012, all licensees must comply with the new written brokerage agreement and disclosure requirements, regardless of whether or not you have completed the RSA training. Upcoming RSA Training Dates at the Richmond Association of REALTORSÂŽ Fee $15 for RAR members, $30 for non-RAR members. Call 804.422.5000 to register. April 24 . . . . . . . . . . . . . . . . . . . . . . . . . .1-4pm May 4 . . . . . . . . . . . . . . . . . . . . . . . . . . .9-Noon May 17 . . . . . . . . . . . . . . . . . . . . . . . . . . .1-4pm May 30 . . . . . . . . . . . . . . . . . . . . . . . . . . .9-Noon June 6 . . . . . . . . . . . . . . . . . . . . . . . . . . .1-4pm June 13 . . . . . . . . . . . . . . . . . . . . . . . . . .9-Noon June 21 . . . . . . . . . . . . . . . . . . . . . . . . . .1-4pm July 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . .9-Noon July 17 . . . . . . . . . . . . . . . . . . . . . . . . . . .9-Noon July 27 . . . . . . . . . . . . . . . . . . . . . . . . . . .9-Noon August 6 . . . . . . . . . . . . . . . . . . . . . . . . .9-Noon August 30 . . . . . . . . . . . . . . . . . . . . . . . . .9-Noon If you have questions concerning the changes to Virginia Agency law, you can call Peggy Lynch, Director of Professional Development 804.422.5006 or email plynch@rarealtors.com.

L I S T ED â&#x20AC;˘ 2 012 I S S U E 1

Meet the Board of Directors

Gary Duda

Carol Haley

Firm & Years in Real Estate RE/MAX Action Real Estate; 17 years in real estate

Firm & Years in Real Estate Century 21 Signature Realty; 29 years in real estate

Experience at RAR Instructor; Grievance Committee Chairman

Experience at RAR Served several years on the Professional Standards and Grievance Committees

How did you get involved in real estate? I needed a career that let me spend more time with family. I had worked in sales prior to real estate and traveled extensively but when my first daughter was born, I wanted to be home every night. Real estate was very accidental; but after a few months, I knew I had made the right career choice. Favorite Regional Tradition Tacky Christmas lights tour - I love the holidays! Favorite Vacation Spot Antigua with my wife and Disney with the whole family. Hobbies/Activities outside the office Coaching and being involved with my children's activities/sports. I really love golf, but it just takes too much time and it's tough to text and putt at the same time.

L I S T ED â&#x20AC;˘ 2 012 I S S U E 1

How did you get involved in real estate? I am a Registered Nurse, and when my family moved back to Richmond the only nursing shift I could get was from 3pm-11pm. My son was only seven and I did not want to be away for that time period. My best friend, who was in the business, suggested that I get a real estate license; I did, and the rest is history. Favorite Regional Tradition All the festivals, plays and concerts for the community. Favorite Vacation Spot I adore the beach. After living on Hatteras Island for several years, I now choose to vacation in Nags Head. Hobbies/Activities outside the office Going to the beach, going to the movies, and reading.

w w w. R A R e a l t o r s . c o m