2 0 1 3 , i s s u e 1
LISTED m a g a z i n e
PROTECTING, PROMOTING
AND PRESERVING HOMEOWNERSHIP
+ Affordable Housing Awareness Week + Spring: The Season for Comparative Market Analyses + CE for Free
a magazine of the richmond association of REALTORS速 rarealtors.com
SHAHEEN LAW FIRM, P.C. •Real Estate • Personal Injury • Civil Litigation• Estate Planning • Business Formation
Why do REALTORS® prefer to work with Shaheen Law Firm? RESPONSE TIME
Fast turn around time to calls, emails and faxes.
PROACTIVE MEASURES
Our attorneys are proactive in communicating with agents and clients at all stages of the closing process.
PERSONAL SERVICE
The owner, Victor Shaheen, is available by cell phone 24/7 at 804.840.9405 to answer questions at no cost.
•Contact Us Today•
Victor A. Shaheen 804.474.9405 vicshaheen@shaheenlaw.com
Timothy D. Freshly 804.474.9413 timfreshly@shaheenlaw.com
David M. “Matt” Ray 804.474.9406 mray@shaheenlaw.com
Austin Wallace, IV 804.474.9433 austinwallace@shaheenlaw.com
W. Mark Dunn 804.474.9418 mdunn@shaheenlaw.com Civil, Criminal & Traffic Litigation
Matt Vaughan 804.474.9435 mvaughan@shaheenlaw.com
Everett M. Gardner 804.474.9452 egardner@shaheenlaw.com Civil, Criminal & Traffic Litigation
www.ShaheenLaw.com Richmond Office
8890 Three Chopt Rd. Richmond, Virginia 23229 P 804.285.6406 F 804.285.8048 •RICHMOND • BLACKSBURG• VIRGINIA BEACH• NEWPORT NEWS
FROM THE PRESIDENT Linda Terry
As I sit to write my first article of 2013, the holidays are a few weeks behind us, yet they seem a distant memory. Richmond’s first snow of the year is disappearing as quickly as it fell. If the rest of 2013 moves as rapidly as January, the year will come and go before we know it. Here at RAR, we have an exciting, incredibly busy year ahead of us. First and foremost, we are sharing with the media the continued good news of a housing recovery. Within CVR MLS, members sold over 1,200 more homes in 2012 than in 2011. If interest rates remain low, jobs continue to materialize, and consumer confidence remains high, pent up demand should drive an even stronger housing market this year. New housing starts are seeing an exciting comeback in 2013. Second, by the time you read these words, we will have hosted over 90 members at a smart growth seminar. It wasn’t long ago that “smart growth” was code for “no growth.” But that’s no longer the case. We now know that many of today’s home buyers are seeking communities in which they can live, work, and play. Developments that utilize smart growth principles will deliver what today’s market is demanding. “What the market demands” could serve as the theme of much of our programming this year. On March 20, we will release a study—commissioned by RAR and conducted by George Mason University—which examines the number of jobs that will locate in the region in the next twenty years and assesses whether the current housing inventory, coupled with land zoned for future housing, is sufficient to ensure that the region remains economically competitive. I hope you will join me on Wednesday, March 20, 9:00am – 11:00am, at the Jepson Alumni Center at the University of Richmond for the release of this critically important study. rarealtors.com
In April, we’ll take a slightly different look at the housing market when we explore “Understanding Today’s Buyer and Preparing for Tomorrow’s,” a seminar that will feature an analysis of the lifestyle and buying preferences of the multiple generations in today’s market. Plan to join us and hear first-hand from recent buyers about how they conducted their home search and what they expected of their REALTOR®. Finally, in October, we will hold our biennial TRENDS event, this year featuring political commentator Bob Holsworth and economist Chris Chmura. I’ve highlighted just a few special events; but it’s important to note that throughout the year, as a benefit of your membership in RAR, you have the opportunity to enroll in thirty-one classes that offer free continuing education credits. While we work hard to train members, we remain equally committed to educating the public about the value of REALTORS®. Our WeAreTheR campaign will continue in 2013, with a new twist. REALTORS® are not only the advisor, navigator, and supporter in the transaction; but also work tirelessly at the local, state, and national levels to be the protector, promoter, preserver of private property rights and affordable home ownership opportunities. Whether it’s seeking the elimination of local cash proffers or fighting attempts to modify the Mortgage Interest Deduction, the REALTOR® association advocates for you and your clients. Home ownership matters; and so does RPAC. Your contributions to the REALTOR® Political Action Committee support the work of our lobbyists. Giving to RPAC and going to the polls are the two best ways to make your REALTOR® voice heard. I ask you to join me in contributing to Richmond RPAC; and I hope you will join me at RAR events many times along the way in 2013. Here’s to an exciting year.
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Feature Working to Protect, Promote and Preserve Homeownership
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Association News Listed Magazine is published triannually by: Richmond Association of REALTORS® 8975 Three Chopt Road Richmond, VA 23229 Editor-in-Chief Kate Loveluck Marketing & Public Relations Manager
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CVR MLS Spring: The Season for CMA Tech Tips, MLS Training Schedule
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Advertising & Sponsorship Lisa Garcia 804-422-5009 marketing@RARealtors.com
Meet the Board
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Printing & Production Worth Higgins & Associates
Education Calendar CE for Free
Graphic Design The Flores Shop Office: 804-422-5000 Fax: 804-422-5088 Web: RARealtors.com Copyright © 2013. 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. Any questions about the advertising policy should be directed to the Managing Editor or the Director of Communications and Marketing.
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Understanding Today’s Buyers, MLS Billing Dates, RAR Leadership
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2013, issue 1
Professional Development 12 14
Government Affairs 2012 RPAC Donors
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Highlights from NAR® 2012 Profile Report
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Tax Tips
23
AHAW
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REALTOR® members pay annual dues with a one-year subscription included within their dues. Sponsor and affiliate members receive a subscription to the magazine as part of their member dues. Annual subscription rate for non-members is $25. Postmaster: Please send change of address to: Listed Magazine Richmond Association of REALTORS® 8975 Three Chopt Road Richmond, VA 23229
rarealtors.com
Make your clients happy. And make a commission. And a bonus.
3% plus $5-$10K bonus at Richmond’s only riverfront community. With incredible views of the James, a vibrant riverfront lifestyle and all the amenities your clients are looking for, homes at Rocketts Landing really sell themselves. But that won’t stop us from giving realtors their full 3% commission – plus a bonus of $5,000 to $10,000. Located just three minutes from downtown, this urban neighborhood allows its residents to enjoy the outdoors, history, dining and more in a way they never thought possible. And the price range of $179,900 to over $1 million is sure to suit every budget and style. Don’t let your clients miss their chance to live on the river. Learn more by visiting our Sales Center, Monday through Friday from 10 am to 5 pm, and Saturday and Sunday from noon to 5 pm. You can find more details in the MLS under “The Village of Rocketts Landing” in Area 40.
Financing available as low as 1%*. Down payment as little as 3.5%.
Call 804-222-5011 or visit rockettsvillage.com for more information. * Interest rate based on a 30 yr FHA fixed rate loan with a note rate of 4% and a 3-2-1 temporary buydown: Year 1=1%, year 2=2%, year 3=3%, years 4-30=4%. APR of 4.8651%. Assumes a purchase price of $179,900, a base mortgage of $173,603.50 and a total mortgage of $175,339 with upfront FHA Mortgage Insurance included in the loan amount, a 3.5% down payment and 740 credit score. FHA guidelines apply to purchasers; this is not an offer to extend credit. Offer good thru June 30, 2012 w/use of preferred lender & title company. Purchaser must settle by July 31, 2012. Offer subject to withdrawal at any time without notice. Interest rate subject to change without notice. rarealtors.com
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ASSOCIATION
NEWS
Affordable Housing Awareness Week April 22 – 27, 2013 Join fifteen 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. For more information and to register for events and community projects visit AffordableHousingRichmond.com.
2013 Holiday Closings
RPAC Donor Photos
RAR and CVR MLS offices will be
Contribute $99 or more to RPAC before March 31 and get a free update to your
closed on the following holidays:
professional photograph in April. Please call 804-422-5000 for more information.
May 27 (Memorial Day) July 4 & 5 (Independence Day) September 2 (Labor Day) November 28 & 29 (Thanksgiving) December 24 & 25 (Christmas)
Understanding Today’s Buyers & Preparing for Tomorrow’s Wednesday, April 24, 2013, 3 – 5pm at the Virginia Museum of Fine Arts Distinguished Achievers Reception to follow immediately $20 before March 23; $25 March 23 – April 19 Free for all 2012 Distinguished Achievers
MLS Billing Dates BILLED:
DUE:
March 1, 2013
March 29, 2013
June 3, 2013
June 28, 2013
September 2, 2013
September 30, 2013
December 2, 2013
December 31, 2013
Gain valuable insights into generational dynamics, technology adoption and use, and communication preferences among homebuyers and sellers. 3 – 4pm: Insights into Your Clients’ Generation with John Martin, Southeastern Institute of Research 4 – 4:45pm: Multi-Generational Buyers Panel moderated by Linda Terry, 2013 RAR President
RAR Membership Fees 2014 BILLED:
DUE:
October 1, 2013
October 31, 2013
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4:45 – 5pm: Putting it All Together with Mark Joyner, 2013 RAR President Elect Email kburke@RARealtors.com or call 804-422-5010 to register.
rarealtors.com
2013
RAR LEADERSHIP
2013
DIRECTORS David Adams Dawn Bradley Nancy Cheely Gary Duda Carol Haley Thomas Innes Cindy Jez
Linda Terry 2013 President
Mark Joyner 2013 President Elect
rarealtors.com
Scott Ruth 2013 Immediate Past President
John S. Finn, Jr. 2013 Vice President
Lummie Jones Michael Maloney Jim Napier John O’Reilly Christina Royal Boyd Y. Smith
USEFUL
URLS
Grassroots Action Center realtoractioncenter.com
RAR Website RARealtors.com
RAR Education RARealtors.com/education
Bill Pay Site ims.centralvarealtors.com
Virginia Real Estate Board dpor.virginia.gov/boards/real-estate
CVR MLS Rules & Regulations cvrmls.myismart.com
Virginia Association of REALTORS® varealtor.com
RAR Government Affairs RARealtors.com/government-affairs
Consumer Website WeAreTheR.com 2013, issue 1
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CVR MLS
SPRING: THE SEASON FOR CMA John Hicks, RAR Technical Education Specialist The uptick in the residential real estate marketplace is a welcome trend, and this coming spring holds promise of even stronger sales. Hopefully, homeowners will feel increasingly better about their prospects, and that will mean more listings. One of the foundations of the listing presentation is a high quality Comparative Market Analysis. Tempo™ and IMAPP™ are the best sources of information to create a highly professional CMA. Here are some helpful tips:
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KNOW YOUR SUBJECT PROPERTY You probably need to learn everything you can about a house you have never seen before. Your first step might be to use
Find a Listing to see if the property has ever been in the MLS. Search by address and find every available MLS printout. You can get all the details on the property, look at multiple photos, and if you are lucky, there may still be a virtual tour attached to the listing. Next, you will want to check the Detail History Report . See how many times it has been listed. Have there been price reductions? Has it gone under contract, gone back on the market, or expired? The seller will remember all those events, so you should know about them. Next, map the property and print it, so you know exactly where it is and what is around it. In IMAPP™ tax records, you can also get an oblique aerial map, showing a satellite view of the property and the surrounding properties. While in IMAPP™, be sure to print out the tax record for the property, and examine it for additional information.
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KNOW YOUR NEIGHBORHOOD MARKETPLACE
If the property is in a subdivision, you will want to investigate all the activity in that subdivision for at least the past few years. Your seller will already know much of that information and will expect you to as well. If it is not in a subdivision, try using a map search to see what has been listed or sold in the surrounding mile or two. You may even want to map active and sold listings in the vicinity. But don’t limit yourself to just the subdivision or immediate area. Look at other similar subdivisions, or the area surrounding the subdivision. Become an expert on your seller’s neighborhood and market area.
When searching for comparable listings, keep it simple and as similar as possible on the major features. Do as few adjustments as you can; only those which are necessary. Remember that active listings will be the property’s competitors, pending listings are what have drawn recent interest, expired listings did not work (and can sometimes point to pitfalls), and solds will help give you numbers upon which to base pricing. Remember, also, that not all sold listings were sold by real estate agents. Search in IMAPP™ for recently sold listings as well. Those
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with a matching MLS record will have a REALTOR® logo. Those that do not have the logo are possibly For Sale by Owner sales.
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KNOW YOUR COMPARABLES & PRICE POINTS
KNOW YOUR MARKET TRENDS
RE Stats™ is a very robust market trend system, but there are
some simple graphs and charts that you can create and print. Go to Financials on the Tempo™ top menu, and click on RE Stats™.
Use the search tools (Open Search Panel button) at the top to narrow your data to your listing’s market area, but allow a large enough pool of numbers to create reliable trends. Try using an Area number (36, 44, or 62 for example). Then click the Submit button to run the search. Under Key Reports, in the lower left corner, you will find simple graphs that will chart the market month to month for a year, based on indices such as Units, Average Price, Sold/Listed price (S/A%) or Days on Market (DOM). Summary reports are nicely formatted for printing and presentation, and there is a variety from which to choose. Inventory Supply and Absorption can be found in the Inventory
Analysis Dashboard. Just find a few items that you can use to track recent market trends that your client will understand. There are two CMA reports available in Tempo™; the Quick CMA and the CMA Wizard . The Wizard is easy to follow, and will walk you through creating a nice presentation quality CMA report. The Quick CMA will give you a simple 1 to 2 page summary style report that you might even add to the CMA Wizard report, as a summary page. Tip: Practice a CMA Wizard report or two with properties you know well before you create one for an actual client.
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CVR MLS
Tech Tip: Instanet™ Folders and Quick-Start Groups John Hicks, RAR Technical Education Specialist
The latest feature in Instanet™ Solutions is the new Folders tree. The CVR MLS forms in Instanet have been organized into folders based on the use of the various forms. For example, you will find Listing forms in a folder, Purchase Agreement forms in a folder, and Disclosure forms in another folder. This makes finding the form you need a snap. If you are unsure where a form is
CVR MLS CLASSES
APRIL 2013 – AUGUST 2013 A great way to earn free CE/PL credits!
APRIL MON 08 1pm – 3pm
MON 22 1pm – 4pm
TUES 09
FRI 26 9am – 11am
RE Stats
MLS for Appraisers 9am – 12pm e-Deal 1pm – 3pm
Tempo™ CMA
Rules of the Road
TUES 16 10am – 12pm
Authentisign™/Doc Box™
MAY
located, there is still a folder named
All CVR MLS Forms, that literally contains all the forms in the order and
MON 06 1pm – 3pm
Instanet™/Transaction Desk
TUES 14
Buyer Prospecting 9am – 12pm eDeal 1pm – 3pm
format you have been used to seeing them in Instanet.
JUNE
There is another significant use for this folder tree that can make a real difference in how you use transaction and listing forms, and how you set up transactions in Instanet. Now, when you create Quick-Start Groups, most of the forms you need for a group will likely be all in one folder. Any additional forms you want should be easy to find
FRI 07 1pm – 3pm
Authentisign™/Doc Box™
MON 24 1pm – 3pm iMapp™
THUR 20 9am – 11am Rules of the Road
JULY MON 08 1pm – 3pm e-Deal
THUR 18 1pm – 3pm
Instanet™/Transaction Desk
in other folders.
Quick-Start Groups allow members to combine all the forms needed for a Listing or a Purchase transaction into a single group and then work with all the forms at the same time. Using the
TransactionDesk Wizard, you can put the buyer’s or seller’s name into all the documents, or the address, the price, and more. Click on the Settings tab in Instanet Pro and go to Quick-Start
Groups to see how to create these convenient document bundles. To attend one of the regularly scheduled Transaction Desk classes, register at
AUGUST TUES 06 10am – 12pm
Authentisign™/Doc Box™
THUR 08 9am – 11am
FRI 16
Tempo™ CMA 9am – 12pm Top 10 Tempo™ Tips 1pm – 3pm
RE Stats
FOR MORE INFORMATION OR TO REGISTER phone: 804-422-5000
web: RARealtors.com/education
email: edu@RARealtors.com
RARealtors.com.
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rarealtors.com
MEET THE
BOARD OF DIRECTORS OFFICE AND YEARS IN REAL ESTATE: Vice President of New Homes and Marketing, Long & Foster Richmond Region I’ve been active in real estate since 1984 – I began with Bowers, Nelms & Fonville.
DESIGNATIONS:
CSP, CSA, and CRS
Cindy Jez
EXPERIENCE AT RAR:
I’ve served on various committees throughout the years. I most recently served as Chair of the Communications Committee.
HOW DID YOU GET INVOLVED IN REAL ESTATE? Real estate runs in my family blood; my grandmother was a REALTOR® for over 50 years. My brother, Larry Mills, encouraged me to go into the business.
FAVORITE REGIONAL TRADITION:
I love attending the Greek Festival every year. I also enjoy fireworks at The Diamond on the 4th of July, and the National Folk Festival.
FAVORITE VACATION SPOT:
Any place with sun and sand
HOBBIES & ACTIVITIES OUTSIDE THE OFFICE: I’m a mother to four sons, so I’m always on the go. In my quiet time I am an avid reader.
OFFICE AND YEARS IN REAL ESTATE:
Base Camp Realty of Richmond I’ve been in real estate for 14 years.
DESIGNATIONS:
ABR, CRS, and SFR
EXPERIENCE AT RAR: John O’Reilly
I’ve spent the last four years on the RPAC committee and currently serve as the Chair.
FAVORITE REGIONAL TRADITION:
I enjoy the Christmas lights downtown and the tacky lights tour; and also the Watermelon Festival and spring at Maymont Park.
FAVORITE VACATION SPOT:
The Outer Banks and Cape Cod
HOBBIES & ACTIVITIES OUTSIDE THE OFFICE: Golf, hockey, and travel
HOW DID YOU GET INVOLVED IN REAL ESTATE?
I loved the thought of making the sale and real estate seemed like a good place to put my talents to use. The last 14 years have been an amazing experience and very rewarding, both personally and professionally. I can’t wait for the next 14. rarealtors.com
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FOR MORE INFORMATION OR TO REGISTER (p) 804-422-5000
RAR EDUCATION CALENDAR
(e) edu@RARealtors.com (w) RARealtors.com/education
APRIL – AUGUST 2013
APRIL WED 10 9am – 5pm
MON 15 9am – 5pm
THUR 25 9am – 12pm
THUR 11 9am – 5pm
TUES 16 1pm – 3pm
MON 29 9am – 5pm
FRI 12 8:30am – 5pm
WED 17 8am – 5pm
TUES 30 9am – 12pm
THUR 02 9am – 12pm
FRI 10 9am – 4pm
MON 20 9am – 5pm
FRI 03 9am – 12pm
WED 15 8am – 5pm
TUE 21
THUR 16 9am – 5pm
THUR 23 9am – 5pm
MON 03 9am – 5pm
TUES 11 9am – 5pm
WED 19 8am – 5pm
TUES 04 9am – 5pm
WED 12 9am – 5pm
THUR 20 1pm – 4pm
MON 10 9am – 5pm
THUR 13 9am – 5pm
MON 24 9am – 12pm
WED 10 9am – 5pm
WED 17 8am – 5pm
MON 22 9am – 5pm
THUR 11 9am – 5pm
THUR 18 9am – 12pm
TUE 23 9am – 12pm
WED 14 9am – 5pm
MON 19 1pm – 4pm
*9am-12:30pm on 17, 19, 22, and 24 **9am-12:30pm on 23, 24, 29 and 31
THUR 15 9am – 5pm
WED 21 8am – 5pm
CE Mandatory – Session A & B CE/PL Session C & D CRS – Listings by the Dozen
Pre-Licensing Broker Appraisal* DPOR Firm Self Audit Workshop GRI 409 – Business Development
RSA – Residential Standard Agency Managing Single Family Homes Commercial Transaction Workshop
MAY Leasing Basics for RE Professionals RSA – Residential Standard Agency
WED 08 9am – 5pm
CE Mandatory – Session A & B
THUR 09 9am – 5pm
VRLTA
GRI 405 – Pricing, Listing & Marketing the Property Connecting with Generations: A – Z
Pre-Licensing Real Estate Brokerage** Broker Office Policy, 8am – 12pm Anatomy of the Residential Contract, 9am – 12pm Broker CE
CE/PL Session C & D
JUNE ABR Core (Day 1)
ABR Core (Day 2)
Pre-Licensing Broker Prep (Day 1)
Pre-Licensing Broker Prep (Day 2) CE Mandatory – Session A & B CE/PL Elective – Session C & D
GRI 406 – What Did I Agree To? RSA – Residential Standard Agency Advanced Contract Writing
JULY CE Mandatory – Session A & B CE/PL Electives – Session C & D
GRI 413 – Psychology of the Sale RSA – Residential Standard Agency
Broker CE
Fair Housing
AUGUST CE Mandatory – Session A & B CE/PL Electives – Session C & D
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RSA – Residential Standard Agency GRI 401 – Understanding Agency
rarealtors.com
RESIDENTIAL LEASE AND PURCHASE
TuesDAY, april 16, 2013 1pM – 4PM INSTRUCTORs: Attorney Michael Lafayette credits: CE: 3 hrs Contracts PL: 3 hrs Offer to Purchase
rar member fee: $55 before 4/9/13 $65 after 4/9/13*
contract workshop
This course is recommended for agents and brokers. Market conditions have spurred an increased demand for Lease-Purchase and Rent with Option to Purchase contracts. These types of hybrid agreements are challenging to create and can create risk exposure for the parties if not properly prepared. In this workshop, RAR Legal Counsel Michael Lafayette will show you how to protect your clients’ interests, appropriately conform the lease and/or contract documents, and avoid mistakes and omissions common in these arrangements.
MANAGING SINGLE-FAMILY HOMES and SMALL INVESTMENT PROPERTIES
monDAY, april 29, 2013 | 9AM – 5PM INSTRUCTOR: Raffi Bandazian credits: CE/PL: 7 hrs Elective
rar member fee: $79 before 4/22/13 $99 after 4/22/13*
One consequence of the current economy is an increasing number of homeowners and investors seeking property management assistance. Brokers and agents who take this course will come away with an in-depth understanding of the intricacies of managing single family homes and small investment properties and the knowledge to maximize the value and financial return of their clients’ properties. Course topics include management agreements requirements, ethical and legal considerations, risk analysis and insurance coverage, property maintenance guidelines and strategies, financial budgeting, record-keeping and reporting requirements, and marketing and leasing issues.
THURSDAY, MAY 2, 2013 | 9AM – 12PM INSTRUCTORs: Attorneys Linda Price & Beth Goodwin-Jones
LEASING BASICS
FOR RESIDENTIAL SALES PROFESSIONALS credits: CE: 3 hrs Legal Updates PL: 3 hrs Law
rar member fee: $55 before 4/25/13 $65 after 4/25/13*
In today’s challenging real estate market, some sellers are choosing to rent their homes and asking their listing agents to help them. This three-hour class, taught by property management attorneys, is designed to help agents and brokers learn the fundamentals of a typical residential lease transaction, comply with state and federal law when showing property and screening prospective tenants, and understand the components of a standard lease agreement.
CONNECTING WITH GENERATIONS A - Z
THURSDAY, MAY 16, 2013 | 9AM – 5PM INSTRUCTOR: Gary Duda credits: CE & PL: 8 hrs Elective each, Counts as ABR Elective
NEW COURSE
rar member fee: $79 before 5/13/13 $99 after 5/13/13*
This one-day course examines the home buying characteristics of various generations and evaluates what they expect from their REALTOR® and the transaction, as well as communication preferences. As a turnkey resource, participants receive generation-specific marketing tools, networking tips, scripts and counseling strategies to help formalize agency relationships.
Register at RARealtors.com or call 804.422.5000 rarealtors.com
*Call for non-member pricing 2013, issue 1
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PROFESSIONAL DEVELOPMENT
CE FOR FREE
Opportunities for Members to Earn Free Credit Throughout the Year All classes are held at RAR’s facilities.
AUTHENTISIGN™/DOCBOX™ WORKSHOP
CVR MLS RULES OF THE ROAD
April 16, June 07 & August 06
April 26 & June 20
Authentisign™ is a free electronic signature tool available to
In this informative class, Peggy Lynch will explain the rules
all CVR MLS users. Learn how to create e-signatures, use
and regulations, as well as the enforcement process. Learn
them in accordance with state and Federal law, and track your
how these rules and regulations help you avoid DPOR and
transaction signing history. Docbox™ provides unlimited online
ethical violations, what your duties and rights are as a CVR
storage for your transaction files; hosts contact information;
MLS user, and what to do if you receive a warning notice.
provides fax and email send/receipt capabilities; and enables
Don’t miss this opportunity to avoid fines and penalties.
access to files from your PC or smart phone. Learn how to
Credit: CE 1 hour Ethics & 1 hour Law or PL 2 hours Electives
maximize your efficiency with the use of these tools. Credit: CE/PL 2 hours Electives
BUYER PROSPECTING
iMAPP™ TAX RECORDS June 24 & September 06 Discover all the exciting new and powerful features of the
May 14
latest version of the iMapp™ tax records system.
Learn more about the Tempo™ prospecting system, a powerful
Credit: CE/PL 2 hours Electives
tool to manage your buyer customers. It provides the ability to automatically send listing information to your customers and allows you to effectively interact with them during the home shopping experience. It allows a variety of notification options for both you and your customer, and helps keep you and your buyers connected. Credit: CE/PL 3 hours Electives
COMPARATIVE MARKET ANALYSIS (CMA)
INSTANET™ TRANSACTION DESK May 06 & July 18 This entry level forms class is ideal for the first time Instanet™ user. Learn how to access the forms library, review your system settings, create, edit, save, recall and email contract documents. In the Transaction Desk portion of class, learn to create Quick-Start document groups; set up and manage your transactions online, from any PC; utilize the Transaction
April 22 & August 16
Wizard to import listing information, schedule tasks, and
Learn how to research MLS data and use the Tempo™
distribute information.
CMA Wizard to produce a quality, professional-looking,
Credit: CE/PL 2 hours Electives
and effective CMA. Credit: CE/PL 3 hours Electives
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The courses listed below are several examples of ways RAR offers members opportunities to earn free CE and PL credits, through complimentary training in technology and best practices. RAR offers each of these courses several times per year. Don’t miss these excellent opportunities to stay current, while earning free credits. For a current schedule of classes, please visit RARealtors.com/education.
INSTANET™ WORKSHOP: THE E-DEAL
Top 10 Tempo™ Tips
April 09, May 14, July 08 & September 09
August 16
Learn the basic components of an online transaction. Learn
Learn tips and tricks for many of the CVR MLS products and
how to set up transactions files; create and modify contract
services. Learn more about advanced searching in Tempo™,
documents; utilize electronic signatures; document receipt
iMapp™ reports, Supra™ showing reports, helpful listing input
of electronic transmittals; and how to securely store and
techniques, and much more.
access all transaction related information.
Credit: CE/PL 2 hours Electives
Credit: CE/PL 2 hours Electives
MLS FOR APPRAISERS April 09 Learn more about researching the Subject Property & Valuation, using Tempo™; how to access information in iMapp™ Tax Records; and how to navigate RE Stats™ for the 1004 MC Market Conditions Form. Credit: CE/PL 3 hours Electives
RE STATS NAVIGATOR April 08 & August 08 Learn how to present the details of your marketplace and market conditions with excellent information and high-quality graphs, spreadsheets and reports. Conduct inventory analysis, including absorption and supply. Data can be broken out into multiple ranges and indexes. Show your customer and client you are the expert in your market area. Credit: CE/PL 2 hours Electives
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GOVERNMENT AFFAIRS
JOIN THE REAL ESTATE ELITE $5,000
Tom Innes
RE/MAX Commonwealth (Presidents Circle Member)
Richmond Association of REALTORS®
Jody Korman
CAPITOL INSIDER $250 Gail Ailor
Long and Foster REALTORS®
RE/MAX Commonwealth
Kurt Negaard
Cecily Amrehein-Gallasch Joyner Fine Properties
RE/MAX Commonwealth
Scott Shaheen
Wes Atiyeh
Karen Smith
Dawn Bradley
Long and Foster REALTORS®
GOLDEN R $5,000 Tom Jefferson
Joyner Fine Properties
Jack Torza
Long and Foster REALTORS® (Presidents Circle Member)
RE/MAX Commonwealth
GOVERNOR’S CLUB $500 Jackie Atiyeh
Joyner Fine Properties
Bob Barton
CRYSTAL R $2,500 Bill White
Joyner Fine Properties
STERLING R $1,000 David Adams
RE/MAX Commonwealth
Katy Allenbaugh-Richards
First American Home Buyers Protection
Nathan Hughes Bandazian & Holden
Barton Real Estate Services
The Pam Davis Team Long and Foster REALTORS®
Blake Eudailey
Real Living Eudailey Real Estate
John Farrell
GrayCo Realty, LLC
John O’Reilly
Base Camp Realty of Richmond
Scott Ruth
Long and Foster REALTORS®
Philip Innes
RE/MAX Commonwealth
Joyner Fine Properties
Long and Foster REALTORS®
James Brooks
RE/MAX Commonwealth
Nancy Cheely
Joyner Fine Properties
Cabell Childress
Long and Foster REALTORS®
Hank Cosby
Hank Cosby Real Estate
Susan Cullen
Long and Foster REALTORS®
John Daylor
Joyner Fine Properties
Marianne Donahue
Long and Foster REALTORS®
Gary Duda
RE/MAX Action Real Estate
Frank Wright
Premier Appraisal Group
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MANY THANKS TO OUR 2012 RPAC MAJOR DONORS
Sue Farrell
Anne Innes
Karen Stephens
William Ferguson
Earl Jackson
Larry Terry
John Finn
Lummie Jones
Linda Staples Terry
Larry Foster
Mark Joyner
Leroy Vaughan
Nancy Frazier
Jean Longest
Dare Friedlander
Bill Mattox
William Gallasch
Mary K. McDonald
Joyner Fine Properties
Joyner Fine Properties
Dominion First Realty, Inc.
Long and Foster REALTORS®
Long and Foster REALTORS®
RE/MAX Today
Joyner Fine Properties
Wayne Gauthier Joyner Fine Properties
Margaret Gentil Virginia Properties
Eleanor Goode
Metropolitan Real Estate, Inc.
Cheryl Hamm
Joyner Fine Properties
Katherine Hawks Joyner Fine Properties
Woody Hogg
ERA Woody Hogg and Associates
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RE/MAX Commonwealth
Prudential Slater James River
Napier REALTORS® ERA
Napier REALTORS® ERA
Joyner Fine Properties
LET Properties, LLC
Tranzon Fox Auction
C. Porter Vaughan, Inc.
Long and Foster REALTORS®
Grubb & Ellis I Harrison & Bates
Virginia Properties
Jim Napier
Napier REALTORS® ERA
Monica Rawles
Long and Foster REALTORS®
Cathy Saunders
Long and Foster REALTORS®
Dawn Sclater
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.
Paige Shaheen
Log in to RARealtors.com and look for the RPAC contribution link on your member profile page.
Sunshine Realty Group, LLC
Long and Foster REALTORS®
Boyd Smith
RE/MAX Commonwealth
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GOVERNMENT AFFAIRS
WORKING TO PROTECT, PROMOTE AND PRESERVE HOMEOWNERSHIP
RAR campaigns for advocacy issues
“Last year, RAR partnered with local and state home builder associations to advocate for policies that preserve affordable home ownership...”
In 2012, the RAR launched a marketing campaign called We Are the R.
The campaign has included print, billboard, and digital advertising, as well as promotional items distributed among members. RAR is pleased to continue and expand this campaign with additional media placements through 2013. Given the conversation in Washington regarding the possible elimination or modification of the Mortgage Interest Deduction (MID), the potential reform of Fannie Mae and Freddie Mac, and the continued possibility of regulatory threats such as the Qualified Residential Mortgage (QRM), RAR will premiere a new leg to the campaign this year, focusing on REALTOR® advocacy for homeowners. RAR has produced additional ads that will point consumers to a new section of WeAreTheR.com, where stories will be shared about how REALTORS® are working to protect the rights and interests of homeowners, preserve affordable housing opportunities, and promote policies that are favorable to a healthy housing market. Preservation of the MID ranks as a particularly high priority this year to REALTORS® and homeowners. According to the National Association of REALTORS®, at 2008 rates and income levels, almost 11 million total tax returns were filed in the income class of $30,000 to $75,000 claiming the Mortgage Interest Deduction. For those in the $30,000 to $40,000 income class, the average tax savings (as a percent of the tax bill) was 35.8%. Despite the beliefs of some that this tax incentive favors the wealthy, in reality it is a break that is much needed by middle-class homeowners and is of great importance to the housing market’s road to recovery. As the combination of residential investment and housing services accounts for 17-18% of our gross domestic product, any policy changes that could stall the recovery of the housing market would be detrimental to us all.
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This newest leg of the marketing campaign will
as a featured speaker at the Rally to Protect
educate the public on the many important roles a
Homeownership, held in October 2012 by the
REALTOR® plays; not only to the home buying and
Home Building Association of Richmond, the Home
selling transaction, but to the community and the
Builders Association of Virginia, and the National
nation at large. It will help keep consumers informed
Association of Home Builders. In addition, RAR led
about what’s happening in the industry and local
a partnership between local REALTOR® associations
market; show them the work local REALTORS® are
(Fredericksburg, Williamsburg, and Southside
doing for the betterment of the community; and it will
Virginia) to host a joint appearance of U.S. Senatorial
inform them of current legislation on the table and
candidates, Governors George Allen and Tim Kaine.
how REALTORS® are working to protect their interests.
The joint appearance successfully communicated the strength of the REALTOR® voice. These types of
Last year, RAR partnered with local and state
partnerships will continue as we grow the campaign
home builder associations to advocate for policies
in 2013 and tie in legislative and regulatory issues
that preserve affordable home ownership (i.e.,
affecting homeowners and the housing industry.
preservation of the MID). For example, RAR’s
— continued on next page
Chief Executive Officer, Laura Lafayette, served
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GOVERNMENT AFFAIRS
Also this year, RAR has launched a new quarterly electronic publication, called The Housing Interpreter, hosted on WeAreTheR.com. This resource for both REALTORS® and their clients contains current information about trends in the housing market, the homebuilding industry, homebuyer and seller preferences, and developments in the Richmond region. Links to each issue of The Housing Interpreter will be distributed to RAR members quarterly, by email. These publications can easily be shared with clients through email, blogs, and social media. Spread the word. RAR has assembled a webpage resource for members to download We Are the R images to place in their email signatures, websites, blogs, business cards, and anywhere else they would like. A link to download these images is available in the sidebar of Tempo5™ and Fusion™. Banner ads will be updated throughout the year, as new ones are created. Lead clients to WeAreTheR.com with these images, where they will be educated on the value REALTORS® demonstrate on a daily basis.
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12/6/07 9:30:45 AM
HIGHLIGHTS FROM THE NATIONAL ASSOCIATION OF REALTORS
®
2012 PROFILE OF BUYERS & SELLERS
Recently, the National Association of REALTORS® released the 2012 Profile of Buyers & Sellers. What follows are some key findings of the report. Married couples constitute 65% of all home buyers,
40% of buyers and 38% of sellers used an agent
the highest percentage since 2001. Conversely, only
who was referred to them by a friend or family
16% of all buyers were single females, the lowest
member, demonstrating once again that referrals
level since 2001. Of all buyers, 39% were purchasing
are an important component of any REALTOR®’s
their first home. Not surprisingly, the median income
marketing plan. And excellent customer service is
for first-time home buyers was significantly lower
essential to retaining clients with 90% of buyers
($61,800) than repeat buyers ($93,100).
indicating they would use their agent again; the number was even higher for sellers—93%.
Most buyers (79%) chose to purchase a single family detached home. In addition to their similar choice of
Finally, a factoid for any seller considering
housing type, the overwhelming majority of buyers
going into it alone: the typical For Sale by Owner
(90%) used the Internet in their home search process.
listing sold for $174,900; while a home listed
For 41% of these buyers, consulting online home
with a real estate professional typically garnered
search sites was the first step they undertook. While
$215,000—a sizable difference of $40,100.
buyers may have begun the home search process online, a full 89% engaged a real estate agent to assist them with the actual search—viewing an average of ten homes over twelve weeks.
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TAX TIPS: DOCUMENTING YOUR BUSINESS RELATED EXPENSES As the filing deadline for Federal taxes approaches,
A portion of your local, state and national REALTOR速 dues are
many REALTORS速 are hunting for deductions and receipts
considered deductible expenditures. The Federal Omnibus
for their 2012 business related expenses. You can obtain a
Budget Reconciliation Act of 1993 eliminated state and federal
complete record of all payments made to RAR and CVR MLS
tax deductions for any portion of dues used for lobbying
by logging into your online account. You have the ability to
activities. The estimated portions allocated by RAR, VAR
view and/or print all of your paid invoices for the previous year.
and NAR for lobbying on behalf of real estate interests are
Additionally, you can obtain a report detailing your completed
listed below. These amounts should be communicated to
education classes and the fee you paid for each class.
your tax consultant.
DUES
DEDUCTIBLE PORTION OF DUES
NON-DEDUCTIBLE PORTION OF DUES
RAR
$120
$101.40
$18.60 (12%)
VAR
$110
$93.28
$16.72 (15.2%)
NAR
$120
$76.00
$44.00 (36%)
NAR PUBLIC AWARENESS : $35.00 VAR ISSUES MOBILIZATION : $10.00
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Note: VAR Issues Mobilization fee of $10 and the NAR Public Awareness Campaign special assessment of $35 are considered deductible expenses.
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APRIL 22 – 27
AFFORDABLE HOUSING
AWARENESS WEEK The Partnership for Housing Affordability will host
and repair their homes. Beyond Affordable Housing Awareness
the sixth annual Affordable Housing Awareness Week
Week worksite projects, there are various other events planned
(AHAW) April 22 – 27.
each year to educate and inform the public of this tremendous need in the Greater Richmond area. See the schedule on next
Join fifteen housing nonprofits as they work together to
page or visit the website at AffordableHousingRichmond.com
increase awareness about housing affordability in new and
for more information and to register.
innovative ways. “We are pleased once again to sponsor this annual event and Since AHAW began, more than 2,500 volunteers from across
support a cause that is so important to many residents of our
the Richmond area have worked at over 170 worksites,
community and so vital to a more robust economic recovery for
improving the quality of life for hundreds of our neighbors.
our country. Our sponsorship of Affordable Housing Awareness
Many hundreds more have learned about affordable housing
Week allows us to support the many non-profit agencies who
issues within our community and have become more active
work tirelessly for others. It is rewarding to see government
and engaged in making a difference.
officials, business leaders, and the general public work together to improve the living conditions of our neighbors.”
AHAW is anticipated each year by local businesses, nonprofits, government officials, and most importantly, our neighbors in need who often work side by side with volunteers as they build
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—S teven R. Lohr, Executive Vice President Franklin Federal Savings Bank rarealtors.com
SPONSORS Title Sponsor
Leaders Bank of America
2013
AHAW SCHEDULE
April 22-27, 2013
APRIL 5
Bank of America Home Loans
“MAPPING RICHMOND: WHERE YOU LIVE MAKES ALL THE DIFFERENCE”
Capital One
This exhibit of GIS (Graphic Information Systems) research maps will trace the
Dominion
connection between poverty, housing, employment, and public policy in the
Virginia Housing and Development Authority
Richmond region from the 1930s through 2011, and will encourage important
Benefactors BB&T HandsOn Greater Richmond Richmond.com Richmond Association of REALTORS® Richmond Times-Dispatch
discussions about regional transportation needs, area growth, and economic development. The exhibit will open during First Fridays at UR Downtown and will feature a presentation by John Moeser, Senior Fellow at the University of Richmond’s Bonner Center for Community Engagement. A reception will follow.
APRIL 22 – 27
VCDC
“A DAY’S WORK FOR AFFORDABLE HOUSING”
Wells Fargo
A volunteer effort that asks employers to give their employees a paid day off, so
NONPROFIT
that they may work with an AHAW housing nonprofit partner. Over 500 volunteers
PARTNERS Better Housing Coalition Boaz & Ruth Community Housing Partners Homeward Housing Opportunities Made Equal Neighborhood Housing Services of Richmond Partnership for Housing Affordability project:HOMES Richmond Community Development Alliance Richmond Metropolitan Habitat for Humanity
participate each year, building and repairing homes, beautifying communities and improving our region’s quality of life.
APRIL 25
WALKING IN THEIR SHOES Coordinated by Homeward, this “homeless simulation” gives community leaders the opportunity to assume the identity of someone who might be experiencing homelessness. Participants must navigate the daily challenges faced by our region’s homeless population, including finding food, shelter, transportation, and needed resources.
APRIL 26
NEIGHBORHOOD BUILDING BLOCK PARTY During this wrap-up celebration, volunteers, residents, and members of the
Richmond Redevelopment & Housing Authority
community participate in a Building Block Party, celebrating a successful week of
Rebuilding Together of Richmond
activities will be held in the Fulton community this year.
Southside Community Development & Housing Corporation Virginia LISC
activities. This family-friendly event featuring food, entertainment and children’s
For more information about AHAW2013 visit AffordableHousingRichmond.com.
Virginia Supportive Housing rarealtors.com
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Understanding Today’s Buyers, and Preparing for Tomorrow’s a Special Presentation at the 2013 RAR Distinguished Achievers Reception
•Generational Dynamics •Technology Adoption and Use •Communication Preferences
Wednesday, April 24, 2013, 3pm-5pm at the Virginia Museum of Fine Arts
3p.m.-4p.m. Insights into Your Clients’ Generation, with John Martin, Southeastern Institute of Research 4p.m.-4:45p.m. Recent Buyers, Multi-Generational Panel, moderated by Linda Terry, 2013 RAR President 4:45p.m.-5p.m. Putting it All Together, with Mark Joyner, 2013 RAR President Elect
Email kburke@RARealtors.com or call 804.422.5010 to register.
FREE for all 2012 Distinguished Achievers | $20 Registration Before March 23, $25 March 23-April 19
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