realtorreview 速
summer 2013
An e-publication of the Raleigh Regional Association of REALTORS速
Ray Larcher
Twenty Great Years!
Rodolfo Gonzales Interior Design is the Triangle’s only Design-Retail Shop offering full service interior design as well as more than 100 premium brands of furniture, lighting, accessories, and rugs. We are conveniently located in Raleigh’s North Hills Shopping Center. Stop in and pay us a visit – you will be glad you did! North Hills Shopping Center 4381-105 Lassiter at North Hills Avenue Raleigh, NC 27609 www.rodolfogonzales.com 919.573.4010
realtor
Raleigh Regional Association of REALTORS®
®
summer 2013, Vol. 5, No. 3
review
111 Realtors Way, Cary, N.C. 27513 Phone: 919-654-5400; Fax: 919-654-5401 www.rrar.com RRAR Officers Asa Fleming, President Frank DeRonja, Vice President Mollie Owen, President-Elect Harriett Doggett, Secretary/Treasurer
features
Mobile App Users Share Listing on 19 Social Media Realtor.com is rolling out all kinds of new digital tools.
23
REALTORS® Help Cool wake Foundation pitches in to buy air conditioners for seniors.
Becky Harper
Diana Braun
Grayson Hodge
Brenda Carroll
Morty Jayson
Kelly Cobb
Linda Kolarov
Steina De Andrade Gina Miller Frank DeRonja
Mindy Oberhardt
Bill Fletcher
Mark Parker
Van Fletcher
Teresa Pitt
Marshall Gay
Margaret Sophie
Tom Gongaware
Josh Swindell
Lewis Grubbs
Kevin Woody
President: Frank DeRonja President-Elect: Vince Bankoski Secretary/Treasurer: Morty Jayson NCAR Regional Vice Presidents Harriette Doggett
Teresa Pitt
NAR Directors John Wood
14 16
Vince Bankoski
realtor foundation of the triangle OFFICERS
Farewell, Ray LArcher! After 20 years with a great executive vice president, RRAR stands ready for the next chapter.
Foundation “Spreads Seeds” For Community Garden Volunteers put heart and soul into a garden for the Healing Place.
RRAR DIRECTORS
®
7
30 key takeaways from Real Estate Connect SF If you couldn’t make it to San Francisco, Bernice Ross shares key points.
Stacey Anfindsen, Immediate Past President
Linda Trevor
triangle realtors® leadership academy dean Mark Parker
24
Go Paperless, With Eyes Wide Open to Security Issues Start saving time, money and paper now. All-digital transactions, that’s where the industry is headed.
departments
Members are cautioned that the inclusion of a name, specific commercial product or service in an article, or in this publication does not imply endorsement by the Raleigh Regional Association of REALTORS®. All advertisers in this publication wholly support the Fair Housing Act and fully promote equal opportunity housing. Copyright 2013 by the Raleigh Regional Association of REALTORS®. All rights reserved. REALTOR® Review staff: Patricia Gregory Rand, managing editor, patriciar@rrar.com Heidi Ketler, APR, editor, hketler@verizon.net Sandee Washington, communications associate, sandeew@rrar.com
3 President’s Message 19 Local Market Update 22 Welcome 26 RRAR Events
Shelly Beck, graphic designer, sbdesign@cox.net For editorial contributions and ad inquiries, please contact Sandee Washington at sandeew@rrar.com or (919) 654-5400.
rrar.com REALTOR Review ®
Preliminary Identity Colors
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president’s message
Thank You, Ray Larcher It’s hard to imagine a day without Ray. Ray Larcher has been an integral part of Raleigh Regional Association of REALTORS® since becoming Executive Vice President in 1994.
Asa Fleming
But that day has come. Ray’s 20th anniversary with RRAR also marks his retirement. Because of Ray’s skillful and strategic management style along the way, the association is prepared to embrace the next chapter with its new CEO, Tessa Holtz. Tessa comes to us after serving as the CEO of the Wichita Area Association of REALTORS® and South Central Kansas MLS. So here’s wishing Ray fair winds and following seas. On behalf of the leadership, members and staff, I thank you for 20 great years. MORE REASONS “It’s Good to be Home in the Raleigh Region” The Daily Beast ranked Raleigh among the nation’s most “aspirational cities,” calling such cities “magnets of opportunity.” The ranking is based on a city’s economic indicators, quality-of-life and demographics. Raleigh ranked No. 5 on the list, and Charlotte placed No. 14. Raleigh ranked No. 2 in the “demographic density” category due to the city’s 7.2 percent growth of foreign-born, domestic and college-educated migration. The analysis says high-scoring cities like Raleigh are “economically vibrant but not prohibitively expensive.” It reports that the Raleigh-area economy has been driven by rapidly expanding high-tech and professional-services jobs that contribute to a high per-capita income that beats the national average by more than $2,000. The latest monthly comparison of market trends from Triangle MLS Inc. also offers strong indications that “housing recovery” will be a phrase of the past. See the latest TMLS charts on pages 19-21. Although the unemployment rate remains a factor to watch, the housing recovery continues to plug along, helping the greater economy with flourishing activity in sales and prices. Click the links below for more reason why it’s time for those who have been sitting on the fence to make their move. CoreLogic ranks North Carolina as No. 2 in the United States for home sales shares and Raleigh as the second-fastest growing city in the U.S. CNNMoney gives the latest growth statistics, which show Raleigh in second place with a 63.4 percent increase between 2000 and 2012, now standing at 884,891. Bizjournals projects Raleigh will outpace any metropolitan area in the U.S in population growth. REALTOR Review ®
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MISSION STATEMENT The Raleigh Regional Association of REALTORS®, the area’s voice of real estate, promotes the highest ethical and professional standards and cooperation among its members; provides products, programs and services to meet the evolving needs of the real estate industry and consumers; and serves as a leading advocate of private property rights and community involvement. VISION STATEMENT “Anticipating and meeting the opportunities and challenges of our industry.” RRAR 2013 COMMITTEE CHAIRS Bylaws: Mollie Owen Building: Mollie Owen Communications & Public Relations: Mark Parker Community Service: Margaret Cohen Government Affairs: Lewis Grubbs RPAC: Mollie Owen Personnel: John Wood Grievance: Morty Jayson, Nancy Cashell, Teresa Pitt and Dayne Luck Hall of Fame: Ed Willer Nominating: John Wood RRAR 2013 COUNCIL CHAIRS Women’s Council of REALTORS® Chair: DeJane Perry Kerr Triangle International Council of REALTORS® Chair: Stuart Deibel The REALTOR® Foundation of the Triangle President: Frank DeRonja Top Producers Council Co-Chairs: Gina Miller & Sandy Edwards Property Management Council Chair: Debbie Henry Small Brokers Council Chair: Tim Devinney RRAR STAFF DIRECTORY Main Office (919) 654-5400 Fax (919) 654-5401 www.rrar.com RRAR Company Store, (919) 654-7253 Chief Executive Officer Tessa Holtz Association Services Director Betsy Ramsey, Ext. 1004, betsyr@rrar.com Association Services Associate Vicki Buckholtz, Ext. 1027, vickib@rrar.com Communications Director Patricia Gregory Rand, Ext. 1026, patriciar@rrar.com Communications Associate Sandee Washington, Ext. 1023, sandeew@rrar.com Education Director Cara Mottershead, Ext. 1006, caram@rrar.com Education Associate Sonya Yankoglu, Ext. 1024, sonyay@rrar.com Facilities Manager Mary Rachel Bowling, Ext. 1016, maryrachelb@rrar.com Governmental Affairs Director Tara L. Lightner, Ext. 1025, taralynl@rrar.com Information Associate Shelia Clark, Ext. 1001, sheliac@rrar.com Store Manager Yukari Powers, Ext. 1028, yukarip@rrar.com TMLS STAFF DIRECTORY Vice President of Operations Rachel Wiest, Ext. 1019, rachelw@trianglemls.com Communications/Data Asset Manager Christy New, Ext. 1008, christyn@trianglemls.com Compliance Director Letitia Pennington, Ext. 1014, letitiap@trianglemls.com Compliance Associate Raina Joyner, Ext. 1020, rainaj@trianglemls.com Data Distribution Director Carol Hamrick, Ext. 1007, carolh@trianglemls.com Membership Associate Kristina Faison, Ext. 1005, kristinaf@trianglemls.com MLS Systems Director Kathy Matheson, Ext. 1012, kathym@trianglemls.com MLS Technical Support Associate J Stepp, Ext. 1009, js@trianglemls.com MLS/Realist Support Associate Jennifer Horton, Ext. 1010, jenniferh@trianglemls.com Technical Operations Director Matt Nagy, Ext. 1017, mattn@trianglemls.com Training Development Manager Allan Nielsen, Ext. 1003, allann@trianglemls.com CTC/MLS Training Manager Lynne Brid, Ext. 1015, lynneb@trianglemls.com RRAR/TMLS MEMBERSHIP/ FINANCE DEPARTMENT Membership/Finance Director Randi Clodfelter, Ext. 1021, randic@trianglemls.com Finance Associate Pat Long, Ext. 1018, patl@trianglemls.com Finance Associate Jill Pressley, Ext. 1011, Jillp@rrar.com Membership Associate Kelly Hunsucker, Ext. 1013, kellyh@trianglemls.com
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Concerning the retirement of Ray Larcher...
Farewell, but not goodbye! Ray Larcher
Executive Vice President of RRAR and President of Triangle MLS, Inc.
Ray is highly regarded for his twenty years of exceptional service to the association and the real estate community.
! t n e m e r i t e r y p p Ha W e h o p e th e n e x t c h a p te r o f y o u r li fe i s e v e n m o r e fu lf i ll i n g . – Bob and Kevin Faherty
Our thoughts go with you. Showings Made Easy! REALTOR Review ÂŽ
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REALTOR Review 速
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Farewell, Ray Larcher!
Raleigh Regional Association of REALTORS® members and staff bid farewell to Executive Vice President Raymond “Ray” Charles Larcher during a retirement party on Aug. 23.
Larcher retires after a tenure spanning 20 years. His retirement also concludes his responsibilities as President of Triangle MLS Inc. “Ray’s sound and steady leadership assured that our association took full advantage of the opportunities available during the best and possibly the worst periods of real estate history. As a result, the association – and each one of us – is better positioned to enter a new era,” Asa Fleming, RRAR president, told a room full of well-wishers. “Ray will be remembered for his vision, strategic guidance and warm and affable nature. His trusted friendship and counsel touched the lives of many, throughout RRAR
and beyond,” said Fleming.
Larcher’s career in real estate began in 1981, when he joined the North Carolina Association of REALTORS® in Greensboro. He accepted the position of executive director of RRAR in 1994. Under Larcher’s leadership, association membership nearly doubled from 2,200 to more than 5,000 today. Throughout his career, Larcher assumed leadership positions at every level – including state and national. He is a past Governor of the Association Executive’s Institute of the National Association of REALTORS® and a past Chairman of the Association Executives Committee of the North Carolina Association of REALTORS®. He also served on numerous national and state AE committees, including strategic planning. Earlier this year, Larcher was presented RRAR’s top REALTOR® REALTOR Review ®
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of the Year (ROY) award for his industry service. “Ray is an outstanding executive director and is most deserving of this award. We are grateful for his loyalty, commitment and all of his efforts on behalf of the Raleigh Regional Association of REALTORS®,” said Phyllis Brookshire, winner of the 2011 ROY, during the annual RRAR awards presentation at the Sheraton Imperial Hotel-Research Triangle Park on Jan. 12 Larcher is a native of Massachusetts and graduate of Husson College in Bangor, Maine. He went on to complete graduate studies at Old Dominion University, in Norfolk, Virginia, and earn a certificate in non-profit management from Duke University. Larcher is a military veteran, with service in the United States Naval Amphibious Forces in inshore undersea warfare. He has four grown children.
“I now sit and worry, who will be good enough to replace you, who will have your character, your honesty, your finesse, your talent! Yes, I will miss you very much! Thanks for all you have done!”
Don Walston Founder & Chairman
“Thank you seems inadequate in expressing our appreciation to you. You have lead the Raleigh Association and TMLS through some of the best times and most difficult situations. We could always count on your steady guidance, complete understanding of the issue and carefully considered response. We wish you the best of everything in retirement.”
“Running a local board office is one of the toughest jobs in all of real estate and no one did a better job of it than you! Thanks Ray - for helping build and manage one of the most successful boards & MLS’s in the nation. Your shoes will be hard to fill.”
Eb Moore Vice Chairman & CEO
David Jones President & COO
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Ray you will be missed‌ but never forgotten! Semper Fi my friend! Save the first dogwatch for a cold one with me! Eddie Brown
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Ra y –
ve u t few le a b , t c a p im an ople make o u ha v e. y t a L o ts of pe h t n io impress the lasting
lis t in gs e n li n o o t S books • From ML lo ca tion w e n a o t n e tr a n s it io • Fr o m th - off buildin g to a pa id n d be yo n d a e il b o m to e In tern e t mb e r s • From th , 000 m e 5 n a h t e r 00 to mo • From 2,2 h mo r e … c u m d n A • so cia tio n s A l a n io g Re o a th e Ra le ig h d e v a n iza tio n t o g r m o e e d a r t You’v a s RS ® from r thousand o f e c r u o o f ReALto s re region. d essential le g n a n ia r ic t m a e n h y d t t throughou s r o lt a e R of r journ e y, u o y f o t r a re. y ed being p ext adventu n r u o y We’ve enjo in h you well a n d we w is ds, Best Regar
are Tom GongawManager, Triangle Region s General Sale ® altors Allen Tate Re
Brookshire Phyllis York es ident Senior Vice Pr ® altors Allen Tate Re
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Congratulations Ray! NCAR would like to thank you for your many years of service. We wish you the very best in your next adventure!
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Ray, You kept our associa tion on the leading edge! We can’t thank you enough for all the years of support and guidan ce! May retirement be a s good to you as you have bee n to RRAR. Mary Edna William s RE/MAX Preferred A ssociates
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Ray…”Sail Away… Sail Away… Sail Away!”
Thank you, Ray, for all your dedication to RRAR and TMLS over the last 20 years. The agents and staff of RE/MAX UNITED appreciate your leadership and dedication to making RRAR the best it can be. We also want to thank you for the friendship so many of us enjoyed with you! Enjoy retirement — from your friends at RE/MAX UNITED. Sincerely, Lynn, Bill and John
REALTOR Review ®
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30 key takeaways from Real Estate Connect SF By Bernice Ross
Real Estate Connect is always packed with great information, outstanding speakers and an abundance of innovation. If you want some fresh ideas to help you build your business, check out the 30 suggestions below from real estate’s best and brightest. These tips can help you understand current trends while simultaneously providing you with ways to be more effective in your real estate business. Go through the list, see what resonates with you and then choose one or two
items that you would be willing to implement in your business.
From Agent Reboot 1. “Always go horizontal” when you shoot videos of houses. 2. Every second that you spend with a sucky individual, you’re taking time away from a great client who is deserving of your time and attention. 3. Weak ties – that is, the people who exist on the fringes of our lives – often bring us the most business. REALTOR Review ®
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4. In terms of the shortage of inventory nationwide: We have a store, but the shelves are empty. 5. This tip explains why owners should not market their home as a for-sale-by-owner: Ninetythree percent of for-sale-byowners fail to sell on their own, and on average, they net 1216 percent less than those who list their homes with a REALTOR®. 6. Seventy-five percent of all lawsuit losses were unrepresented by a REALTOR®;
wouldn’t you rather pay 6 percent than get sued? 7. Marketing is about being remarkable. 8. New research suggests that Facebook triggers the same hormone as cuddling. 9. Google changed its algorithm again and is now penalizing sites that are not mobilefriendly. 10. First create a post (on social media or on your blog) and then publish it everywhere. 11. Visuals sell, especially when you consider that the brain processes visual images 60,000 times faster than it processes text. 12. The Facebook mobile app provides you with a private voice mail.
From the Hear It Direct panel at Real Estate Connect Hear It Direct provides real estate professionals with straight feedback from buyers and sellers about how consumers search for property, what their expectations are regarding the services agents provide, as well as what does and doesn’t matter. Here’s what these buyers and sellers had to say: 13. Never hire an agent who doesn’t have a smartphone. 14. A single photo on a listing is infuriating – What is it you’re hiding? 15. I won’t even bother with a listing with one photo since it’s either the sign of a lazy agent, or there is something wrong with the property. 16. When the Hear It Direct moderators asked the panelists
about what percentage of the commission an agent keeps on a typical 6 percent deal, here’s what they said: “On a 6 percent listing, the buyer’s agent and the listing agent each receive 3 percent of the sales price as their commissions.” (In other words, the consumers have no idea how commissions are split. They believe that the agents keep the entire amount.) 17. We need help with three things when we are buying or selling real estate: help with negotiating the deal, local expertise and understanding the buying or selling process. 18. We want a full-time agent, not one who works only part time.
From Real Estate Connect 19. Online video is making people smarter faster. 20. If you purchase a property and keep it for seven years, it is 37 percent cheaper to buy than rent, and it will stay that way in most areas until interest rates reach 10.5 percent! 21. Thank the investors who have been purchasing real estate and paying all cash — they are setting the bar for higher prices. 22. We are only one bad event away from another downturn. 23. Canadians who were buying in Arizona and Florida have not shifted to buying back in Canada. 24. When working with ultraREALTOR Review ®
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high-end clients, especially for those from outside the United States, avoid bothering them with the details of the transaction, since they don’t have time for that. 25. Brands that people love don’t spend as much time on marketing; instead, they spend time thinking about who people are. 26. Humor was an evolutionary response to stress. 27. Script for marketing to owners of expired listings: We specialize in taking listings that other people can’t sell. 28. If you’re using Craigslist, squeeze them hard! (That is, use a landing page that forces them to provide contact information before you give them information.) 29. When you list a property, make sure that you enroll your sellers in one of the systems that automatically notifies them of new listings. 30. When you receive a negative review online, “Stop, drop and roll.” In other words, take a deep breath before you respond, drop your need to be right, and “let it go!” Remember, big success comes in repeated small steps taken over time. Choose the one or two suggestions that fit your business, implement them and if they work, keep them. If not, discard them and look for even more tips from next year’s Connect in New York. Bernice Ross, chief executive officers of RealEstateCoach.com, is a national speaker, trainer and author of the National Association of Realtors’ No. 1 best-seller, Real Estate Dough: Your Recipe for Real Estate Success. Hear Ross’s five-minute daily real estate show, just named “new and notable” by iTunes, at www.RealEstateCoachRadio.com.
Foundation Helps Cultivate a Community Garden “However many years she lived, Mary always felt that ‘she should never forget that first morning when her garden began to grow.’”
— Frances Hodgson Burnett, The Secret Garden By Vicki Buckholz
A men’s shelter in Raleigh has a community garden to nurture, thanks to a partnership between the REALTOR® Foundation of the Triangle and the Healing Place of Wake County.
The Healing Place is a non-profit rescue, recovery and rehabilitation facility for homeless persons with alcohol and other drug addictions. It provides shelter, food and rehabilitation for about 180 men every
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day. (Women are served at a sister facility.) More than 1,300 men used the shelter in 2012. Of the clients who have successfully transitioned from the recovery program, more than
voted unanimously to fund construction of the garden, which provides produce for use by Healing Place clients. Additional fruits and vegetables will be donated to Shepherd’s Table Soup Kitchen in downtown Raleigh. “This garden is a welcome addition for us,” said Barrett Joyner, director of development at the Healing Place, “and we are delighted to have been selected for the foundation’s first community garden.” 70 percent continue to be sober one year after graduation, a tremendous success rate for the Healing Place. The community garden design was the work of Caroline Tilley
and Mary Hendrika of Asher Landscape Design. “It was an exciting challenge to work on this project,” said Asher. “A beautiful and meaningful Thomas Sayer sculpture dominates the Healing Place’s central courtyard and is a source of pride and inspiration for the clients.”
The foundation board of directors voted unanimously to fund construction of the garden… “The courtyard is an important gathering space and the existing layout contains key elements with strong shapes and lines. For example, there is a long, angled wall engraved with the twelve steps to recovery. These shapes are carefully echoed in the design of the new garden’s beds, paths and pergola,” Asher explained. The foundation board of directors REALTOR Review ®
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Construction of the garden continues, with an anticipated completion in time for the 2014 summer growing season. Meanwhile, Raleigh Regional Association of REALTORS® members will continue volunteering in garden construction and planting. In addition, there will be opportunities to donate to or sponsor elements in the garden, such as memorial benches. “Many of us have known someone whose life has been touched by alcoholism or drug addiction,” said Frank DeRonja, foundation president. “As REALTORS®, reducing the number of homeless persons in Wake County is a cause we can all support. This is a wonderful organization doing critical and life-altering work. This has been a truly rewarding project.” For more information about The Healing Place, click here. Donations for the garden can be made online, as well. For information regarding sponsorship of specific garden elements or for other information, send an e-mail to vickib@rrar.com
Mobile App Lets Users Share Listings on Facebook, Twitter Realtor.com has released version 5.0 of its mobile real estate app for iOS and Android, which allows users to share listings on social media channels including Facebook
and Twitter, view higher-resolution photos and access short-cuts using a new menu. Mobile users can also view listings in a new photo gallery tab and see listing photos without leaving search results. “Our world is constantly becoming more connected, so being able to add a social element to our app for users to share their real estate journey with friends and family was an absolute must in our development,” said Scott Boecker, chief product officer at realtor.com operator Move Inc., in a statement. “The realtor.com app allows users to share the experience of buying and selling a home and get feedback they
“The realtor.com app allows users to share the experience of buying and selling a home and get feedback they desire.” desire while easily navigating the market.” Launched in 2009, the realtor.com mobile app accounted for nearly 50 percent of all listing detail pages viewed during the first quarter of 2013, the company said. Realtor.com has taken aggressive steps this year to reclaim market share it has lost to competitors Trulia and Zillow. In March, realtor.com rolled out a newly designed website and branding as well as a marketing campaign aimed at contrasting the accuracy of the site’s listings, which come directly from MLSs, with listings data on competing sites, which often come from multiple sources.
Realtor.com’s new mobile real estate app gives instant access to millions of homes for sale and is available on multiple platforms. REALTOR Review ®
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Local Market Update – July 2013 A RESEARCH TOOL PROVIDED BY TRIANGLE MLS
Entire Triangle Region
+ 10.7%
+ 34.3%
+ 5.5%
Change in New Listings
Change in Closed Sales
Change in Median Sales Price
July
New Listings Closed Sales
Year to Date
2012
2013
+/–
2012
2013
+/–
3,192
3,533
+ 10.7%
24,674
27,219
+ 10.3%
2,295
3,082
+ 34.3%
13,664
17,382
+ 27.2%
Median Sales Price*
$191,950
$202,559
+ 5.5%
$189,500
$195,000
+ 2.9%
Average Sales Price*
$230,380
$242,153
+ 5.1%
$225,712
$234,469
+ 3.9%
Total Dollar Volume (in millions)*
$528.3
$745.9
+ 41.2%
$3,078.4
$4,072.7
+ 32.3%
Percent of Original List Price Received*
94.1%
96.1%
+ 2.1%
93.5%
95.3%
+ 1.9%
Percent of List Price Received*
96.7%
97.5%
+ 0.9%
96.5%
97.3%
+ 0.8%
115
95
- 17.5%
122
104
- 15.1%
Inventory of Homes for Sale
15,402
13,882
- 9.9%
--
--
--
Months Supply of Inventory
8.5
6.0
- 28.7%
--
--
--
Days on Market Until Sale
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
July
2012
3,192
3 533 3,533
Year to Date
2013
24,674
3,082
2012
27,219 17,382
2,295
+ 10.7% New Listings
2013
13,664
+ 10.3% New Listings
+ 34.3% Closed Sales
+ 27.2% Closed Sales
Change in Median Sales Price from Prior Year (6-Month Average)** Entire Triangle Region
a
+ 10% + 8% + 6% + 4% + 2% 0% - 2% - 4% - 6% - 8% 1-2008
7-2008
1-2009
7-2009
1-2010
7-2010
1-2011
7-2011
1-2012
7-2012
1-2013
7-2013
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period period. | Current as of August 10 10, 2013 2013. All data from Triangle Multiple Listing Service Service, Inc Inc.. | Powered by 10K Research and Marketing Marketing.
For further information regarding TMLS Market Trends and Analysis please visit: www.TriangleMLS.com
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Local Market Update – July 2013 A RESEARCH TOOL PROVIDED BY TRIANGLE MLS
+ 10.9%
+ 39.6%
+ 1.2%
Change in New Listings
Change in Closed Sales
Change in Median Sales Price
Wake County
July New Listings Closed Sales
Year to Date
2012
2013
+/–
2012
2013
+/–
1,699
1,884
+ 10.9%
12,812
14,206
+ 10.9%
1,233
1,721
+ 39.6%
7,485
9,806
+ 31.0%
Median Sales Price*
$219,000
$221,565
+ 1.2%
$213,550
$218,000
+ 2.1%
Average Sales Price*
$253,402
$262,151
+ 3.5%
$249,137
$256,055
+ 2.8%
Total Dollar Volume (in millions)*
$312.6
$451.2
+ 44.3%
$1,864.6
$2,510.9
+ 34.7%
Percent of Original List Price Received*
95.4%
97.0%
+ 1.7%
94.5%
96.2%
+ 1.8%
Percent of List Price Received*
97.5%
98.2%
+ 0.7%
97.2%
97.8%
+ 0.6%
108
84
- 21.9%
116
95
- 18.1%
Inventory of Homes for Sale
7,023
6,091
- 13.3%
--
--
--
Months Supply of Inventory
7.0
4.7
- 33.5%
--
--
--
Days on Market Until Sale
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
July
2012
1 699 1,699
1,884
Year to Date
2013
1 721 1,721
12,812
2012
2013
14 206 14,206
1,233
9,806 7,485
+ 10.9% New Listings
+ 10.9% New Listings
+ 39.6% Closed Sales
+ 31.0% Closed Sales
Change in Median Sales Price from Prior Year (6-Month Average)**
All MLS
b
Wake County
a
+ 15%
+ 10%
+ 5%
0%
- 5%
- 10% 1-2008
7-2008
1-2009
7-2009
1-2010
7-2010
1-2011
7-2011
1-2012
7-2012
1-2013
7-2013
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period period. | Current as of August 10 10, 2013 2013. All data from Triangle Multiple Listing Service Service, Inc Inc.. | Powered by 10K Research and Marketing Marketing.
For further information regarding TMLS Market Trends and Analysis please visit: www.TriangleMLS.com
REALTOR Review ®
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Monthly Indicators A RESEARCH TOOL PROVIDED BY TMLS
July 2013
Quick Facts
It won't be long before the housing recovery is simply referred to as housing. Institutional and cash buyers have effectively priced themselves out of the market. During the downturn, much inventory was purchased by these groups. Now that prices are rising, there's less incentive for these kinds of buyers, yet affordability for consumers remains attractive. New Listings in the Triangle region increased 10.7 percent to 3,533. Pending Sales were up 28.3 percent to 2,982. Inventory levels shrank 9.9 percent to 13,882 units.
+ 34.3%
+ 5.5%
- 9.9%
Change in Closed Sales
Change in Median Sales Price
Change in Inventory
Market Overview New Listings Pending Sales Closed Sales Days On Market Until Sale Median Sales Price Average Sales Price Percent of Original List Price Received Percent of List Price Received Housing Affordability Index Inventory of Homes for Sale Months Supply of Inventory Annual Review
Prices got a lift. The Median Sales Price increased 5.5 percent to $202,559. Days on Market was down 17.5 percent to 95 days. Absorption rates improved as Months Supply of Inventory was down 28.7 percent to 6.0 months. With mortgage rates slightly up but relatively low by historic standards, the Fed has indicated no change in monetary policy based on a moderately-paced economic expansion. Although the unemployment rate remains a factor to watch, the housing recovery continues to plug along, helping the greater economy with flourishing activity in sales and prices. Housing has made a positive contribution to real GDP growth for 11 consecutive quarters.
2 3 4 5 6 7 8 9 10 11 12 13 14
Click on desired metric to jump to that page.
Annual Review
Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. Current as of August 10, 2013. All data from Triangle Multiple Listing Service, Inc. Powered by 10K Research and Marketing.
Historical look at key market metrics for the overall region.
Days On Market
Closed Sales
126
24,844 22,112
2008
23,858 20,689
19,737
-11.0%
-6.4%
-4.6%
+20.9
2009
2010
2011
2012
91
Median Sales Price $190,000
$182,000
2008
+10.8%
+3.8%
+20.9
-5.9%
2009
2010
2011
2012
Percent of Original List Price Received $189,700
$185,000
$189,990 95.8%
2008
119
101
105
-4.2%
+4.2%
-2.5%
+2.7%
2009
2010
2011
2012
2008
92.8%
92.3%
92.0%
93.6%
-3.2%
-0.5%
-0.3%
+1.8%
2009
2010
2011
2012
For further information regarding TMLS Market Trends and Analysis please visit: www.TriangleMLS.com All data provided by Triangle Multiple Listing Service, Inc. Powered by 10K Research and Marketing. | Click for Cover Page | 14
REALTOR Review 速
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w e l c o m e NEW MEMBERS ! second Quarter 2013 New second-quarter Raleigh Regional Association of REALTORS® members. Charlene Abraczinskas, Blue Realty Dwight Adams, Re/Max Southland Realty II Jeffrey Adkins, Howard Perry & Walston Realtor Farah Akhtar, Keller Williams Realty Zandra Alexander, Fathom Realty NC LLC Jacqueline Alford, Dan Ryan Builders North Carolina LLC Ras Ran Amon, Alexander McPhail & Associates, LLP Madelynn Anduray, Keller Williams Realty Crystal Apple, Yolanda Martin Homes Adrienne Artz, Fonville Morisey/Lochmere Sales Office Se Jua Au, Universal Realty Jeffrey Baker, Howard Perry & Walston Realtor Jane Ball, Go Realty Caron Barrett, DT and Co. Caron Barshay, Fonville Morisey/Lochmere Sales Office Walter Beard, LaChapelle Properties LLC Valerie Bennett, Bennett Wells Realty LTD Lorrie Berlenbach, Coldwell Banker Advantage Jose Bernal, Goldens Realty Marcus Bizzell, Block & Associates Realty/Relocation Nicole Botto, Keller Williams Realty Cheree Brown, Keller Williams Emily Brown, Howard Perry & Walston Realtor Caroline Brown, Wieland Properties Inc. Garion Bunn, Legacy Partners Realty LLC Heather Burrill, Fonville Morisey/Youngsville Sales Office Dustin Burruss, Allen Tate Co. Inc. Ryan Byrne, Howard Perry & Walston Realtor Jared Caldwell, Dream Living Realty Ashley Campbell, Lennar Carolinas LLC Bruce Alan Campbell, Fonville Morisey/Inside the Beltline Office Jessica Capps, Fathom Realty NC LLC Justin Carlin, Allen Tate Co. Inc. Gregory Carlisle, Howard Perry & Walston Realtor Morgan Carlisle, Howard Perry & Walston Realtor Shauna Carnahan, Northside Realty Inc. Kristen Carothers, Fonville Morisey/Inside the Beltline Office Sybil Carpenter Hobbs, Keller Williams Jane Cerbini, Howard Perry & Walston Realtor Edward Chen, Champion Realty Inc. XiaoShi Chen, First Triangle Realty Inc. Kelly Cherry, Keller Williams Preferred Realty Patrick Clare, Prudential York Simpson Underwood Realty Shawn Clevinger, Keller Williams Charlotte Coley, Fonville Morisey/Main Street Associates Robin Cone, Howard Perry & Walston Realtor Nichole Conlon, ERA Strother Real Estate Robert Cooper, Prudential York Simpson Underwood Realty Gregory Couchois, Coldwell Banker Advantage Desiree Coulter, HomeTowne Realty Garner Julia Cowlbeck, Fonville Morisey/Stonehenge Sales Office Julia Cox, Re/Max Signature Realty L. Denise Cox, Denise Cox Homes Shane Cox, ERA Strother Real Estate Angela Crain, Keller Williams Richard Crews, Icon Realty and Management Judy Crews, Howard Perry & Walston Realtor Carlene Crisafi, Keller Williams Preferred Realty Margaret Crosby LeBlanc, Keller Williams Realty Kellie Cross, Howard Perry & Walston Realtor Kimberly Crowley, Fonville Morisey/Vandora Sales Office David Cruz, Keller Williams Tonya Culpepper, DeRonja Real Estate Garrett Daly, DEC Appraisals Diana Dane, Howard Perry & Walston Realtor Aaron Daniels, Hodge & Kittrell Sotheby’s International Realty
Shyra Daniels, Promised Land Realty Beverly Day, Allen Tate Company Shannondoah Deaver, Keller Williams Donald Derden, Howard Perry & Walston Realtor Carrie Desjardins, Prudential York Simpson Underwood Realty Victoria Didawick, Chatham Homes Realty Dwayne Dixon, Bateson Realty Leslie Dolde, HomeTowne Realty Joy Donat, Pinehurst South Realty Paul Duncan, Fonville Morisey/Stonehenge Sales Office Brandon Duncan, Keller Williams Preferred Realty Bonnie Eaddy, Coldwell Banker Advantage Lindsey Edwards, Howard Perry & Walston Realtor Stephen Ellis, Northside Realty Inc. Mary Ann Esposito, Fonville Morisey/Falls Sales Office Terry Evans, Dream Living Realty Silvia Fernandez, Fathom Realty NC LLC Kyle Fetterolf, Paramount Realty Solutions Richard Fisher, Prudential York Simpson Underwood Realty Christina Fuhrman, Fonville Morisey/Youngsville Sales Office Taqiyya Gainer, Rainbow Choice Realty Corey Gibson, Keller Williams Jack Gilliland, Fonville Morisey/Falls Sales Office Gina Gomperts, Re/Max United Patricia Gray, Gray Valuations Inc. Michael Gray, Park Avenue Properties LLC Leah Green, Raleigh Cary Realty Inc. David Green, Howard Perry & Walston Realtor John Grimes, Grimes Realty Company Nicole Hale, Triangle Midtown Realty John Hall, Fonville Morisey/Stonehenge Sales Office Michael Hamm, Jackson Hamm Realty Patricia Hanchette, Patricia Hanchette Michelle Haopshy, Southern Homes & Land Grant Harman, Persimmon Creek Realtors Grayson Hawkins, Fonville Morisey/Stonehenge Sales Office Guy Hays, Fonville Morisey/Falls Sales Office Shanda Heller,Re/Max United Kathleen Helmedag, Fonville Morisey/Preston Sales Office Cale Herndon, Merrill Lynch Tina Hilker, Howard Perry & Walston Realtor Brigitte Hill, EASE Realty Christopher Hinkle, Fathom Realty NC LLC Taylor Holt, Prudential York Simpson Underwood Realty William Hopton, Weichert, Realtors-Columbus Associates Sherry Howard, Re/Max Preferred Associates Ron Howells, Raleigh Mortgage Group Inc. Sharon Hunt, Howard Perry & Walston Realtor Carl Hutnick, Hunter Rowe Mohammad Ilyas, Salem Street Realty Stacey Jacobs, Raleigh Custom Realty LLC Anita Jagath, Selling Directly Brandon James, Coldwell Banker Advantage Ying Ji, AUG Realty Hildy Johnson, Healthcare Mgmt of America Robert Joines, Keller Williams Realty Cameron Jones, Key Realty Resources LLC Travelle Jones, Prudential York Simpson Underwood Realty Janie Jordan, Jordan Mills Group LLC Andrea Jordan, Keller Williams Realty Kathryn Kampe, Fonville Morisey/Preston Sales Office Troy Kane, Raleigh Cary Realty Inc. Daniel Kapornyai, Coldwell Banker Advantage Elaine Kennedy, Prudential York Simpson Underwood Realty Sheila Kennedy, Fonville Morisey/Falls Sales Office Corbin Kennedy, Prudential York Simpson Underwood Realty Thomas Kennihan, Sewell Realty Group David Kester, Howard Perry & Walston Realtor Narendra Khosla, Howard Perry & Walston Realtor Erica Kim, Carolina MaxRealty Inc. Ernesto Kimble, Coldwell Banker Advantage
Ashley Knight-Applewhite, Howard Perry & Walston Realtor Wendi Krawczyk, Howard Perry & Walston Realtor Robert LaBelle, Keller Williams Ashley Ladd, Prudential York Simpson Underwood Realty John-Henry Lane, Coldwell Banker Advantage Taylor Lane, Fonville Morisey/Stonehenge Sales Office Melissa Langdale, On Q Financial George Lanier, Allen Tate Co. Inc. Charles Lapham, Keller Williams Realty Ned Liggon, First South Bank Alex Lilly, Centex Homes Yileen Liu, Triangle Investment Realty Miki Liu, Redfin Corporation Robert Llambias, Allen Tate Co. Inc Theresa Locklear, Howard Perry & Walston Realtor Sherry Lockwood, Goldens Realty Keith Logrande, Howard Perry & Walston Realtor Megan Luce, Keller Williams Realty Amy Lumpkin, Keller Williams Preferred Realty Karen Machikas, Keller Williams Realty Gerald Mack, The New Realty Group LLC Stephany Mackey, Re/Max Integrity Judith Mann, Allen Tate Co. Inc. Harry Marks, Allen Tate Co. Inc. Robert Marquart, Fonville Morisey/Preston Sales Office Ken Martin, Southern Trust Philip Mathew, Real Triangle Properties Kelly Mathews, Fonville Morisey/Vandora Sales Office Donavon Maupin, Howard Perry & Walston Realtor Brian McIntire, Fonville Morisey/Lochmere Sales Office John McKeithen, Fonville Morisey/Stonehenge Sales Office James McKenzie, Fonville Morisey/Vandora Sales Office Iris McKoy, Weichert, Realtors- Columbus Associates Kristin McParlan, Howard Perry & Walston Realtor Lisa Meier, Coldwell Banker Advantage Erin Messier, Weekley Homes LLC Adrienne Mickels, Phyllis Brown & Associates Jessica Miller, HomeTowne Realty Neva Miller, Fonville Morisey/Brier Creek Sales Office Courtney Millwood, Dewitt Carolinas Inc. Pamela Minore, Fonville Morisey/Lochmere Sales Office Lorrie Minschew, Keller Williams Realty Sara Mitchell, Royale Realty Eugene Moore, Accent Realty Tammy Morris, Selling Directly Evan Mullinix, DT and Company Patrick Murphy, Beacon Appraisal Management Co. Ivonne Nieto, Blue Endeavours Real Estate LLC Jonathan Nikouyeh, Jonathan Nikouyeh Matthew Nugent, Prudential York Simpson Underwood Realty Gina Ohayon, Howard Perry & Walston Realtor Mary Oliver, Coldwell Banker Advantage Ashley Osenga, Sunshine Real Estate LLC Anita Oxford, Exit Realty Unlimited Eboni Pack, Fonville Morisey/Brier Creek Sales Office Johnny Paddock, Preferred Fibre Care LLC Caroline Paoletti, Howard Perry & Walston Realtor Michael Parker, Fonville Morisey/Falls Sales Office Lisa Parrish, Driving Force Realty Unmesh Patel, Howard Perry & Walston Realtor Laura Payne, Re/Max One Realty Bayard Pearce, Lennar Carolinas LLC Misti Peedin, New Light Realty Daryl Pendry, My Listing Services Rafael Perez, Carolina MaxRealty Inc. Terese Pham, Trailwood Realty LLC Loresha Phillips, Fonville Morisey/Stonehenge Sales Office CarolAnn Protasiewicz, Fonville Morisey/Stonehenge Sales Office Patricia Pullin, Fathom Realty NC LLC Joyce Purvis, Keaton Barrow Realty Jammie Ragland, Howard Perry & Walston Realtor
Sheree Rainbow, Rainbow Choice Realty Randy Rambeau, Fonville Morisey/Lochmere Sales Office Haroon Rana, MY Real Estate Broker LLC Tayzoon Rasani, Howard Perry & Walston Realtor Shimu Ray, NGR Property Associates Heather Reiss-Geoffrey, Coldwell Banker Advantage Judith Reuwer, Town & Country Realty Inc. Karen Rezeli, Parrish Realty Inc. Joseph Rhetts, WSR Home Buyers LLC Cieraca Rhodes, Re/Max Integrity Matthew Riley, Sunshine Real Estate LLC Kenneth Ritchey, Keller Williams Realty Corey Roark, Keller Williams Preferred Realty Nicholas Roberts, Bev Roberts Rentals Claudia Roberts, Keller Williams Realty Marisol Roque, Re/Max United David Rowson, Howard Perry & Walston Realtor El Ryoo, Weichert REALTORS-Triangle Homes John Saineghi, Hunter Rowe Allison Sanders, Keller Williams Rachel Santangelo, WSR Home Buyers LLC Lynne Sarella, Fonville Morisey/Preston Sales Office Kanaka Sastry, ERA Pacesetters Realty Joseph Sciolino, Keller Williams Justin Sciranko, Keller Williams Realty Felicia Sellars, Jones Advantage Real Estate Professionals James Short, Fonville Morisey/Lochmere Sales Office Letitia Siderio, Fonville Morisey/Falls Sales Office Elizabeth Simon, Kelly & Kelly Services Manjeet Singh, Keller Williams Preferred Realty Samuel Smith, Howard Perry & Walston Realtor April Stapleton, Howard Perry & Walston Realtor Natalie Steen, Realty World-Triangle Living Angela Stellar, Howard Perry & Walston Realtor Marianita Stevans, Keller Williams Lindsay Stubbs, Keller Williams Walter Summerford, Market Logic LLC Kevin Taylor, Fonville Morisey/Brier Creek Sales Office Crystal Thom, Fonville Morisey/Preston Sales Office Kristina Thomas, ERA Strother Real Estate Andrew Thompson, Prudential York Simpson Underwood Realty David Toth, Keller Williams Ronald Treece, Caliber Funding Patricia Tully, M/I Homes of Raleigh LLC Mey Ung, Access Realty Lisa Varona, Linda Craft & Team, REALTORS Gregory Vitek, Daymark Realty LLC Julie Vu, Northside Realty Inc. Colleen Warnock, Coldwell Banker Advantage Lia Watson, Re/Max One Realty Meredith Weaver, Allen Tate Co. Inc. Sharon Webb, Coldwell Banker Advantage Nicolette Weedon, Housework Angels LLC Carl Wellman, Howard Perry & Walston Realtor Jessy Wilkes, Preferred Fibre Care LLC Shelby Wills, Rare Properties LLC Janette Wilson, Town & Country Realty Inc. Laura Wilt, Grow Local Realty LLC Dori Witek, Howard Perry & Walston New Home Richard Wolf, AH4R Management NC LLC Jiele Xu, AUG Realty Fredrick Yebuah, Fonville Morisey/Falls Sales Office Venkateswara Yendapalli, Real Triangle Properties Kelly Young, DT and Co. Valerie Zarrillo, Highgarden Real Estate North Carolina Darlene Zeitler, DeRonja Real Estate Yi Zheng, Cary-Raleigh Realty Inc.
If you would like to sponsor a new member orientation, contact Betsy Ramsey at (919) 654-4500. REALTOR Review ®
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REALTORS Help Wake County ®
Cool Off
REALTORS® Cooling Wake is a program, developed by the REALTOR® Foundation of the Triangle, to provide Wake County with 100 A/C units for these seniors and health-compromised children. Foundation volunteers applied for and received a grant from Homes4NC and organized a fund-raising campaign, to which REALTORS® and individuals donated.
The result? The foundation was able to purchase 102 units. The REALTOR® volunteers also have been delivering the units as recipients are identified by Denise Kissel of Wake County Human Services.
By Vicki Buckholz
Each summer, Wake County Human Services receives numerous Cool for Wake requests to provide free fans to vulnerable citizens who are adversely affected by extremely high temperatures. The program also has a limited number of window-unit air conditioners for seniors and children with a documented medical history of chronic illness affecting their respiratory system, such as asthma, emphysema, chronic obstructive pulmonary disease (COPD) or HIV. Unfortunately, the number of A/C units rarely meets the need.
“It may seem like a small thing, but having one air-conditioned room in a home provides a safe place to retreat during times of dangerous heat,” said Kissel. “Thanks to the REALTORS® and this program, we have quadrupled the number of A/C units we can distribute. It’s wonderful to be able to say, ‘yes,’ to so many more at-risk seniors and children.” John Hartofelis of Coldwell Banker Advantage, Raleigh, and a foundation board member, originally suggested the project. Hartofelis and Steve Smallman of Steve Smallman Property Inspections L.L.C. worked together to lead the group of volunteers. “Our volunteers are really enjoying the extra service opportunity of delivering the units and meetREALTOR Review ®
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ing the people who will benefit. It’s a humbling experience to see how much they appreciate this small gesture,” said Smallman.
During the fund-raising effort, the foundation challenged members of the Raleigh Regional Association of REALTORS® with the reward of an ice cream party. The three winning offices (Hodge & Kittrell Sotheby’s, Phyllis Brown & Associates and Birch Appraisal Group) opted to give their party to the 150 children of the Washington Elementary Boys & Girls Clubs, who enjoyed the cool treat during their afternoon break from class on July 15. Coincidentally, air conditioning in one of the club’s classroom trailers had recently quit working. The extra two units (beyond goal) were given to the club. “Some of our children struggle with asthma,” said Eric deShield, the club’s director, “so this gift will really help.” Lowe’s Home Improvement Center helped the foundation with a discounted rate for the units and free delivery, while Rural Plumbing and Heating generously provided storage space. Requests for units must be accompanied by a written statement from the applicant’s physician and should be directed to Denise Kissel at denise.kissel@wakegov.com or (919) 212-7083. Click here for more information about Cool for Wake.
Go Paperless, With Eyes Wide Open to Security By Bernice Ross
Are you tired of having to run back to the office to pick up a paper version of your contracts? Have you ever lost out on a multiple offer because the other agent’s clients were signing on an iPad, and you had to drive across town to obtain a signature? If so, it’s time to make the shift to going paperless. Managing the paper version of a real estate transaction has become a nightmare. If you’re holding an open house, for example, you must be prepared to take a listing or write an offer on the spot. In order to be prepared, you must keep the agency disclosures, purchase contracts, listing agreements, property disclosures, plus any other required documents with you at all times.
Complicating matters even further, many states require agents to track 100 or more items to close a single transaction. In the paper world, each of these items begins with the agent filling out the client’s name, address and other contact information. This also means that the agent has to physically deliver the documents for signature or that the clients must print out the documents on their own printer. It’s a huge hassle for everyone. When a buyer’s agent makes a paper copy of a digital document and faxes it, she destroys the digital tracking embedded as “metadata.”
Advantages of Paperless A California agent described the advantages of going paperless in REALTOR Review ®
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the following way: “By going paperless, I’ve cut my workload by 80 percent. Rather than filling out 92 different forms by hand, I enter my clients’ names into our system once, and it populates all the forms with the appropriate contact information.” Another agent shared how going paperless helped her in a multipleoffer situation. She was competing against three other agents. Once the seller issued the counter offer, she sent it to her buyer, who was on a flight from Los Angeles to Chicago. Her buyer signed the counteroffer using DocuSign. She finalized the deal in less than 10 minutes. The other two agents barely had time to contact their clients to arrange a meeting.
“By going paperless, I’ve cut my workload by 80 percent. Rather than filling out 92 different forms by hand, I enter my clients’ names into our system once, and it populates all the forms with the appropriate contact information.” The Electronic Signatures Act Signed into law by President Bill Clinton in June 2000, the Electronic Signatures in Global and National Commerce Act established standards for digital signatures. The act allows the consumer to have the option of signing electronically or using paper and ink. Furthermore, it gives electronic contracts the same weight as those executed on paper. Although the act enables documents to be signed electronically, the option to do so lies solely with the consumer. In other words, no portion of the act requires you to sign documents electronically; you retain the right to use “paper and ink” documents at your discretion. The act specifically avoids stip-
ulating any “approved” form of electronic signature, instead leaving the method open to interpretation by the marketplace. Any number of methods is acceptable under the act. Methods include simply pressing an “I Accept” button, digital certificates, smart cards and biometrics.
Roadblock to Paperless: Other Agents The biggest roadblock for paperless agents and brokerages are the other real estate professionals who are unwilling to learn a new technology. One paperless agent described what she experienced with an agent who didn’t understand the technology: “I couldn’t believe it – the agent printed up the digital document, drove it over to the buyer’s house and then faxed it back to me. That meant I had to scan it back into the system since our office requires all documents to be digital.” A False Sense of Security The challenge with the situation above is that when the buyer’s agent made a copy and faxed it, it destroyed the digital tracking embedded as “metadata” in electronic documents. Furthermore, when the paperless agent scans the document back into the system, her supervising broker may believe that he has a valid digital paper trail when in truth he does not. Affiliate Roadblocks What’s particularly frustrating is the escrow or title officer who insists on “wet signatures” (i.e., handwritten), even though the law allows for digital signing on most documents. This generally means that someone has to drive to a physical location to obtain REALTOR Review ®
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wet signatures in person. There are mortgage issues as well. According to Linda Komm, vice president and manager of SWBC Mortgage in Austin, Texas, there are also two documents in financed transactions that require a “wet” signature. The first is IRS form 4506, Request for Copy of Tax Return, and the second is the Truth in Lending Act (TILA) disclosure statement. Since loan documents can be 100 pages or more in length, allowing more borrowers to sign their loan documents digitally would save the entire industry massive amounts of time, paper and money.
The Ultimate Roadblock The one roadblock that you must honor is what works for your client. Elizabeth Cooper-Golden, the broker/owner of @Homes Realty, summed up the situation like this: “My clients actually love the convenience of paperless, but I do at times still have to use ‘the old fashioned’ way of having them sign. A few clients don’t own computers (elderly), so I’m happy to do what is best for my client. At the end of the day, it’s all about what best fits our clients’ needs, whether that is paperless or whipping out the ink pen.” The industry will ultimately be paperless. The question is how soon before you make the shift and start saving time and money in your business? Bernice Ross, chief executive officers of RealEstateCoach.com, is a national speaker, trainer and author of the National Association of Realtors’ No. 1 best-seller, Real Estate Dough: Your Recipe for Real Estate Success. Hear Ross’s five-minute daily real estate show, just named “new and notable” by iTunes, at www.RealEstateCoachRadio.com
RRAR events
3 New Member Orientation, 8:30 a.m.-3 p.m. 9 RRAR Board of Directors, 9 a.m. 15 Community Service Committee, 11:30 a.m. 16 Small Broker’s Council, 9 a.m.
17 New Member Orientation, 8:30 a.m.-3 p.m. 22 MLS Refresh, 8:30 a.m.-3:30 p.m. 31 Project Angel Tree, deadline for adopting angels
September 4 Women’s Council of REALTORS®, 8:45 a.m. 5 New Member Orientation, 8:30 a.m.-3 p.m. 9 Mayberry Modernism Seminar, 8:30 a.m. 11 RRAR Board of Directors, 9 a.m. 12 Janet Thorn Seminar, 8:30 a.m. 16 Successfully Selling HUD Homes, 9 a.m. 17 Community Service Committee, 11:30 a.m. Dine Out for Angels
November 4-8 Project Angel Tree Angels Distributed
18 Small Broker’s Council, 8:45 a.m.
6 Women’s Council of REALTORS®, 8:45 a.m.
Triangle International Council of REALTORS®, 11:30 a.m.
7 New Member Orientation, 8:30 a.m.-3 p.m.
19 New Member Orientation, 8:30 a.m.-3 p.m.
13 RRAR Board of Directors, 9 a.m.
23 REALTOR® Foundation of the Triangle Board Meeting, 12:30 p.m.
Triangle International Council of REALTORS®, 11:30 a.m.
26 Property Manager’s Council, 11:30 a.m.
14 Property Manager’s Council, 11:30 a.m. 18 REALTOR® Foundation of the Triangle Board Meeting, 12:30 p.m.
October 1 Project Angel Tree, angel adoption begins
19 Community Service Committee, 11:30 a.m.
Triangle MLS 4th quarter user fees due
20 Small Broker’s Council, 9 a.m.
2 Women’s Council of REALTORS®, 8:45 a.m.
Successfully Selling HUD Homes, 9 a.m.
Top Producer’s Council, 11:30 a.m.
For more information, visit www.rrar.com REALTOR Review ®
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M
Registration Form for the Annual Triangle-Area
eet Your Candidates Mixer Tuesday, September 24, 2013 5:30 to 7:30 pm
111 Realtors Way, Cary, NC
ZE I R P R O O D 1000 CASH
$1000 Ca$sh D
oor Prize
Hosted by Triangle Community Coalition Triangle Apartment Association Raleigh Regional Association of REALTORS®
Register Now ! Come join us at the Annual Triangle–Area “Meet Your Candidate” Mixer Tuesday, September 24, 2013 from 5:30-7:30 pm at One Eleven Place in Cary. This one of a kind event will give you the opportunity to mingle with local candidates from towns & cities throughout the Triangle running in the fall municipal and school board elections! Please list names of attendees from your compa- on-line Register ny here.
at www.tricc.org
ONLY $10
FOR ALL REGISTRATION FORMS RECEIVED BY FRIDAY, SEPTEMBER 20, 2013 REGISTRATION INCLUDES ALL FOOD, DRINK , A DOOR PRIZE TICKET & MUSIC! FORMS RECEIVED AFTER SEPTEMBER 20th & ALL WALK-IN’S WILL BE CHARGED $15.00 NO EXCEPTIONS!
Questions? Call Charlene 919 812-7785
REALTOR Review ®
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Congratulations on your retirement, Ray. May the years ahead be filled with happiness.
Ray Larcher
Life begins at
20 years of service in real estate
retirement. — Author Unknown
In recognition and sincere appreciation of many years of distinguished service… we thank you. — RRAR and TMLS