REALTOR Review Spring Edition by Raleigh Regional Association of REALTORS®

REALTORreview ®

A publication of the Raleigh Regional Association of REALTORS®

Nationwide Open House

JUN E 4 - 5

2010 Year in Review REALTORS® recognized for “giving back”

SPRING 2011

RALEIGH REGIONAL ASSOCIATION OF REALTORS® 111 Realtors Way, Cary, N.C. 27513 Phone: 919-654-5400; Fax: 919-654-5401 www.rrar.com RRAR OFFICERS Linda Trevor, President Marshall Gay, Vice President Stacey Anfindsen, President Elect Asa Fleming, Secretary/Treasurer Theresa Clark, Past President RRAR DIRECTORS Stacey Anfindsen Vince Bankoski Autumne Bennett Phyllis Brookshire Eddie Brown David Chance Theresa Clark Kelly Cobb Steina De Andrade Harriette Doggett Laurie Donofrio Asa Fleming Marshall Gay Tom Gongaware Lewis Grubbs

Becky Harper Grayson Hodge Morty Jayson Carol McCormick Melanie Osborne Mollie Owen John Pace Teresa Pitt Zach Schabot Jose Serrano Tom Smith Josh Swindell Linda Trevor Mary Edna Williams John Wood

REALTOR® FOUNDATION OF THE TRIANGLE OFFICERS Marshall Gay, President Gary Rabon, Secretary/Treasurer Joey Robbins, Past President NCAR REGIONAL VICE PRESIDENTS Theresa Clark John Wood NAR DIRECTORS Eddie Brown

John Wood

TRIANGLE REALTORS® LEADERSHIP ACADEMY DEAN Asa Fleming 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 2011 by the Raleigh Reg- ional Association of REALTORS®. All rights reserved. REALTOR® REVIEW STAFF: Patricia Gregory Rand, managing editor, patriciar@rrar.com Heidi Ketler, APR, editor, hketler@verizon.net Caroline Shipman, assistant editor, carolines@rrar.com Margo Alfieri, intern, margoa@rrar.com Shelly Beck, graphic designer, sbdesign@cox.net For editorial contributions and ad inquiries, please contact Caroline Shipman at carolines@rrar.com or (919) 654-5400.

REALTORreview ®

SPRING 2011, VOL. 3, NO. 2

features

SET YOUR SIGHTS ON GREEN HOME TOUR The Green Home Builders of the Triangle will present its annual tour of green-certified homes May 14-15 and May 21-22.

10 WAYS TO GREEN YOUR HOME Here are some practical measures for making your home more energy efficient and Earth friendly.

REAL ESTATE AGENTS: PLUG INTO GEN X, GEN Y BUYER PREFERENCES Update your marketing as a “Trusted Resource” to appeal to four generations.

departments 1 From the President 3 Neighbors Helping

COMMERCIAL REALTOR® OF THE YEAR TCAR recognizes Smedes York as Commercial REALTOR® of the Year and many others.

MEASURE WHAT MATTERS TO YOUR REAL ESTATE SITE Analytics can relate online activity to the bottom line and company values.

7 TIPS TO CREATE REAL ESTATE MARKETING BUZZ These suggestions will get the creative juices flowing and people buzzing about you.

30 Calendar of Events 32 Bits & Pieces

Neighbors

7 NewsMakers 21 Local Market Updates 24 New Members

rrar.com

Preliminary Identity Colors

from the president

REALTORS

Have Heart

BY LINDA TREVOR, RRAR 2011 PRESIDENT

Linda Trevor 2011 RRAR President

REALTORS® are vital to the fabric of a strong community. We are the “boots on the ground,” working throughout all corners, day in and out, able to identify needs and do our part to fill them.

The recent presentation of the 2010 Fred Fletcher Outstanding Financial Contributor award to the REALTOR® Foundation of the Triangle is great confirmation. Especially if you consider the short time frame the foundations has been in existence. Often when it comes to community need, there is no time to waste. So RFT got busy, funneling funds, resources and people toward refurbishing Raleigh’s Eastgate Park playground. The work was both fun and serious, as we know how important access to safe recreation is in the healthy development of young people. Turn to page 3 to read more about the Fred Fletcher award and an upcoming opportunity to help build two new playgrounds. Consider participating. A look at the photos shows how good it feels to work together in community service. There are plenty of other opportunities to join the fun through the Raleigh Regional Association of REALTORS® Community Service Committee. Click here for a schedule of upcoming opportunities to volunteer. With a long list of service initiatives ranging from Project Angel Tree to student scholarships, the Community Service Committee is a great vehicle for helping the needy in Wake County. RRAR members’ actual community service contributions are outlined in the year-in-review on page 14 of this issue of REALTOR® Review. Congratulations for all the strides despite difficult economic times. It’s truly a source of pride. Our collective heart and soul makes great things happen! Spring 2011

Happy spring! Linda

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 2011 COMMITTEE CHAIRS Bylaws: Stacey Anfindsen Building: Stacey Anfindsen Community Service: Lisa Jeffries Governmental Affairs: Theresa Pitt RPAC: Stacey Anfindsen Housing Opportunity: John Hartofelis Personnel: Gary Rabon Grievance: Vanessa Castillio Professional Standards: Harriette Doggett Strategic Planning: Stacey Anfindsen Nominating Committee: Phyllis Brookshire RRAR 2011 COUNCIL CHAIRS Property Management: Debbie Henry International Council: Diana Braun Top Producers: Deborah McCrae and Janice Rosenberg Women’s Council: Diana Braun Young Professionals Network: David Chance RRAR STAFF DIRECTORY Main Office (919) 654-5400 Fax (919) 654-5401 www.rrar.com RRAR Company Store (919) 654-7253 Executive Vice President Raymond C. Larcher, Ext. 218, rayl@rrar.com Association Services Director Betsy Ramsey, Ext. 217, betsyr@rrar.com Association Services Associate Vicki Buckholtz, Ext. 216, vickib@rrar.com Communications Director Patricia Gregory Rand, Ext. 239, patriciar@rrar.com Communications Associate Caroline Shipman, Ext. 238, carolines@rrar.com Education Director Cara Mottershead, Ext. 211, caram@rrar.com Education Associate Sonya Yankoglu, Ext. 212, sonyay@rrar.com Facilities Manager Mary Rachel White, Ext. 210, maryrachelw@rrar.com Governmental Affairs Director Tara L. Robbins, Ext. 215, taralynl@rrar.com Information Associate Shelia Clark, Ext. 200, sheliac@rrar.com Store Manager Yukari Powers, Ext. 201, yukarip@rrar.com TMLS STAFF DIRECTORY Vice President of Operations Rachel Wiest, Ext. 219, rachelw@trianglemls.com TMLS Executive Associate Christy New, Ext. 220, christyn@trianglemls.com Compliance Director Letitia Santos, Ext. 234, letitias@trianglemls.com Compliance Associate Raina Joyner, Ext. 242, rainaj@trianglemls.com Data Distribution Director Carol Hamrick, Ext. 213, carolh@trianglemls.com Data Distribution Associate Bonnie Eaddy, Ext. 207, bonniee@trianglemls.com MLS Systems Director Kathy Matheson, Ext. 233, kathym@trianglemls.com MLS Technical Support Associate J Stepp, Ext. 226, js@trianglemls.com MLS/Realist Support Associate Jennifer Horton, Ext. 227, jenniferh@trianglemls.com Technical Operations Director Matt Nagy, Ext. 225, mattn@trianglemls.com Training Development Manager Allan Nielsen, Ext. 208, allann@trianglemls.com CTC/MLS Training Manager Lynne Brid, Ext. 232, lynneb@trianglemls.com RRAR/TMLS MEMBERSHIP/ FINANCE DEPARTMENT Membership/Finance Director Randi Gaines, Ext. 221, randig@trianglemls.com Finance Associate Pat Long, Ext. 222, patl@trianglemls.com Finance Associate Jill Pressley, Ext. 221, Jillp@rrar.com Membership Associate ® REALTOR Review Kelly Hunsucker, Ext. 209, kellyh@trianglemls.com

guide

THE

b ou t Ask aeferred r our P roker B am P r og r

GREAT NEIGHBORHOODS • INNOVATIVE HOME DESIGNS • FROM THE LOW $100s

CA RY 1

Twin Lakes • From the low $200s

New homes created with Martha Stewart

1,408–3,280 sq. ft., 3–6 bdrms., 2–3 baths From I-40, take Exit 284/Airport Blvd. toward Cary and turn right on Chapel Hill Rd./Hwy. 54. At light, turn left on McCrimmon Pkwy. to community 1.5 mi. on left. (919) 460-8860

DURHAM/MORRISVILLE 7

Keystone Crossing • From the low $100s

1,276–1,647 sq. ft., 2–3 bdrms., 2.5 baths

From I-40, take Exit 282/Page Rd., go west on Page Rd. Turn left on Miami Blvd. Continue .6 mi., merge right on Church St. and make an immediate right on Keystone Park Dr. past railroad tracks. (919) 941-1581

KB Home Studio

8161 Brier Creek Pkwy. From I-540, take Exit 3/Lumley Rd. Turn left on Lumley Rd., right on Brier Creek Pkwy. and right into shopping center. Studio is between Ross and Michaels.

Call (919) 768-7960 for KB Home Studio hours or to schedule an appointment.

Phillips Place • From the mid $200s

1,865–3,345 sq. ft., 3–6 bdrms., 2–3 baths Visit us at Twin Lakes for more information. From I-40, take Exit 284/Airport Blvd. toward Cary and turn right on Chapel Hill Rd./Hwy. 54. At light, turn left on McCrimmon Pkwy. to community 1.5 mi. on left. (919) 768-7989

C L AY TO N 3

Cobblestone Place • From the low $100s

1,394–2,450 sq. ft., 3–5 bdrms., 2–3 baths From Hwy. (after (919)

Hwy. 70 East toward Clayton, pass 42 West and turn right on Champion St. McCall’s BBQ) to sales center on left. 359-0193

DURHAM 4

Belcrest • From the mid $100s

1,303–2,784 sq. ft., 3–6 bdrms., 2–3 baths From Hwy. 40, take Exit 276/Fayetteville Rd. toward downtown Durham and continue less than 2 mi. to community on right. (919) 806-0398

Ellerbee Creek Preserve • From the low $100s

1,303–2,784 sq. ft., 3–6 bdrms., 2–3 baths

Take Hwy. 70 to I-85 North and exit Red Mill Rd. Turn left at end of ramp and left on Hamlin Rd. to community on left. (919) 294-4788

Foxwood Manor • From the mid $100s

1,303–2,784 sq. ft., 3–6 bdrms., 2–3 baths Take I-40 East to Durham and take Exit 279/ Hwy. 147. Go approx. 3.5 mi. and take Exit 8/ Ellis Rd. Turn left on Ellis Rd., go approx. .6 mi. and turn right at stoplight to continue on Ellis Rd. Community is .8 mi. ahead on right. (919) 596-7942

888-KB-HOMES

Building quality new homes since 1957.

kbhome.com

Broker Cooperation Welcome. ©2011 KB Home (KBH). ©2011 Martha Stewart Living Omnimedia, Inc. All rights reserved. Payment of Broker Co-op requires Broker to accompany and register buyer on first visit and comply with Broker Co-op Agreement. See Built to Order™ options and upgrades offered at KB Home Studio. All options/upgrades require additional charges, may require ordering at predetermined stages of construction and are subject to change/discontinuation anytime by KB Home. KB Home is not a custom homebuilder and Built to Order only applies to appliances/options available at KB Home Studio. Plans, pricing, financing, terms, availability and specifications subject to change/prior sale without notice and may vary by neighborhood, lot location and home series. Additional charges apply for lot premiums, options/upgrades. Buyer responsible for all taxes, insurance and other fees. Sq. footage is approximate. Photos show upgraded landscaping/options and may not represent communities’ lowest-priced homes. Map not to scale. See sales representative for details. RAL-93689

neighbors helping neighbors

Parks and Recreation Award Recognizes REALTOR® Foundation

In recognition of its donation to help refurbish Raleigh’s Eastgate Park playground at 4200 Quail Hollow Road, the REALTOR® Foundation of the Triangle won the 2010 Fred Fletcher Outstanding Financial Contributor award from the City of Raleigh Parks and Recreation Department. The Fred Fletcher Awards Program was created to thank the thousands of volunteers who have helped with a multitude of Raleigh

Joey Robbins, Mollie Owen, Ray Larcher and Marshall Gay received the Raleigh Parks & Recreation Award on behalf of RFT.

Parks and Recreation Department projects over the years. Members are invited to team up with Foundation volunteers, along with Raleigh Regional Association of REALTORS® staff and board members Friday, May 13, and Saturday, May 14, to build two new playgrounds for ages 2 to 5 and 5 to 12. A permanent sign with the Foundation’s logo will be placed at the site of the pre- school-age playground in appreciation of the Foundation’s sponsorship. Volunteers are needed both days. No experience is necessary, just enthusiasm and willingness to have fun! You must be age 18 or older to help with this project, and pre-registration is required. To register, contact Vicki Buckholz at vickib@rrar.com or (919) 654-5400, ext. 216.

Spring 2011

REALTOR® Review

A diverse group of green homes open to the public for touring, with a green building professional on site to answer questions and describe their home’s green features. Don’t miss this unique chance to see firsthand the renewable energy and green building practices at work in our area! Green homes offer these special benefits:

May 13-15 & 21-22 noon–6 p.m. Pick up your free tour book at these fun and informative kick-off events.

THURSDAY, MAY 12 • 5–7 P.M. Enjoy light refreshments and samplings at the Raleigh Whole Foods, 3540 Wade Avenue and at the North Raleigh Whole Foods, 8710 Six Forks Road.

• energy efficiency • cleaner, healthier air • a quieter home • reduced maintenance • lower monthly costs • better resale value • a variety of state-ofthe-art building and technical features • resource conservation

FRIDAY, MAY 13 • 5–7 P.M. Sample organic wines and gourmet cheeses at the Durham Whole Foods, 621 Broad Street and at the Chapel Hill Whole Foods, 81 S. Elliott Road.

Tour books will also be available for pick-up in May at the HBA offices, Whole Foods, and the homes on the tour.

919.493.8899 www.TriangleGreenHomeTour.com

Sponsored by

TRIANGLEGREENHOMETOUR.COM

Mobile Website & iPhone App FREE! AVAILABLE IN APRIL

A joint program of the HBA of Durham, Orange, & Chatham Counties and the HBA of Raleigh-Wake County

The sixth annual Green Home Tour will give the public the opportunity to explore green home building in a range of prices and styles. May 14-15 and May 21-22

Set

ig S r You

1243 Great Ridge Parkway Chapel Hill

104 Sharp Street Winmore

828 Minerva Dale Drive Fuquay-Varina Spring 2011

o s t h

904 Hillsborough Road Carrboro

1724 Whispering Meadows Drive, Zebulon

1686 Briar Chapel Chapel Hill

een Home To r G n u

The self-guided tour showcases only houses that have met or exceeded green certification requirements, according to Carrboro a third-party verifier. Some of the houses on tour will be partially complete to give Cary visitors a better view of green features. Visitors also will have the opportunity to talk with the builders. Chapel Hill The Green Home Tour is presented by the Green Home Builders of the Triangle, a joint program of the Home Builders Association of Durham, Orange & Chatham Counties and the Home Builders Association of Raleigh-Wake County. Homes on tour range from entry level to luxury. They are located in Raleigh, Zebulon, Cary, Durham, Chapel Hill, Carrboro and Pittsboro.

Durham FuquayVarina Mebane

Hillsborough

Free tour books are available at area Whole Foods stores and the HBA offices. Fun kick-off events will be from 5-7 p.m. at Raleigh Whole Foods May 12, and Durham and Chapel Hill Whole Foods on May 13. Tour information also is available at www.trianglegreenhometour.com.

Pittsboro Raleigh Zebulon

REALTOR速 Review

o t s y a 10 W

u o r Y Ho me n e e r G

There are plenty of ways to be a better global citizen and it starts with your own living environment. Consider all aspects of your home regarding energy efficiency, resource consumption, water usage and indoor air quality. For those interested in building or remodeling a home, this will require considerable research and knowledgeable professionals. Home buyers should seek out homes that are certified green by a third-party verifier. Green homes should operate as a system for maximum efficiency. A builder may earn green certification for his home if they meet the following 10 goals for green construction.

The best way to start being earth friendly is by recycling everything and cutting back on your consumption throughout the house. Recycling one glass bottle can save enough electricity to light a 100-watt light bulb for four hours. 6

REALTOR® Review

Select cleaning products that have eco-friendly ingredients; read the labels.

Limit water usage around the house and use recycled water for the garden. When choosing a faucet or toilet, select one that is a low-flow model. Consider purchasing a tankless water heater to reduce wasted energy.

Reduce energy consumption at home by keeping it warmer in the summer and cooler in the winter. Change air filters monthly, get an HVAC assessment and consider adding solar panels or geothermal heating.

5. Replace appliances older than

10 years with Energy Star-approved appliances. Consider that the refrigerator uses about 18 percent of a home’s total energy bill. Energy Star models use from 1050 percent less energy and water than standard models.

Replace incandescent bulbs with compact florescent light bulbs (CFL). CFLs can save $30 per bulb over the lifetime of the bulb.

7. Choose environmentally consci-

entious flooring options, such as bamboo, cork, reclaimed hardwood flooring or recycled carpet. Make sure the installer uses formaldehyde-free glues.

8. Select healthier interior finishes.

Most major paint manufacturers now offer a low-volatile organic compound (VOC) paint, which reduces the health risks of paint. Talk with your paint professional.

Even the outside can become greener, with better site development, locally grown plants and compost.

10.

Talk to builders who view the house as a system, from site development, resource use, water efficiency, indoor air quality, energy efficiency and homeowner education. REALTORS® can use online search tools to identify green- certified houses. For more information about green certification, visit the Green Home Builders of the Triangle website, www.trianglegreenhometour.com. Spring 2011

CAN'T SELL – CAN'T RENT Got Bad Odors 1-800-494-2620

GUARANTEED Removal of any odor or you don't pay We Remove: Pet Odors – Tobacco Smoke – Curry – Unknown In the past 3 years we have eradicated odors from over 900 apartments and homes in the Triangle area.

www.OdorSweep.com Take the Funk out of your Skunk!™

newsmakers

Peggy Craig earns North Carolina Short Sale Specialist Certification Peggy Craig, broker with Keller Williams Preferred Realty-Raleigh/ Durham, earned her North Carolina Short Sale Specialist certification. Peggy Craig

The Certified Short Sale Specialist (CSSS) seller agent designation is the first and only North Carolina state-specific short sale designation. CSSS designees are real estate-related professionals dedicated to helping North Carolina homeowners who owe more than their property is worth. CSSS designees understand the short sale process, transactional entities and who the true short sale Spring 2011

decision makers are. They also can identify predatory-servicing tactics and guide consumers to the appropriate North Carolina state regulatory agencies, if necessary. Each of the CSSS seller agent designation class segments are approved as general continuing legal education by the North Carolina State Bar and as continuing education electives by the North Carolina Real Estate Commission. CSSS classes are offered by Advance Mortgage Education Inc. Craig and other CSSS real estate professionals are dedicated to helping North Carolina homeowners manage the short sale process and minimize any negative financial impact. REALTOR® Review

SOLID REPUTATION. SOLID PARTNER. SOLID REWARDS.

Drees Homes SOLID REWARDS Realtor Program

1st Closing:

2.5% Commission

Drees has always had a solid reputation. Because we value the relationships we’ve developed with our Realtor partners, we’re proud to continue our Solid Rewards Program. Between January 1 and December 31, 2011, you can earn up to a 4% Commission when you sell Drees homes.

from the $310s

367-9028

Coles Creek

from the $390s

RALEIGH Banks Pointe WAKE FOREST Bowling Green

Raleigh “Building Company of the Year”

460-4540

from the $250s from the $130s

596-9513 957-8617

from the $310s

803-4552

HILLSBOROUGH Churton Grove

from the $320s

732-5112

from the $240s

570-2022

from the $380s from the $250s

435-1773 435-1773

DURHAM Ashfield Place

from the $210s

477-5844

from the $290s

477-5844

2nd Closing:

3% Commission

3rd Closing:

3.5% Commission

DURHAM Brightleaf at the Park** Single Family Homes Townhomes

ROLESVILLE Lakes of Rolesville* The Village at Rolesville

Colony at American Village*

7, 2009 200 , 2010

CARY Brandywine

2006 ,

To learn more, visit one of our fine communities located throughout the Triangle or contact a Drees Market Manager for details. *The Solid Rewards Realtor program is not available with any other offer and is paid at closing. Drees assumes no responsibility between Broker and Agent on distribution of commission. Program begins January 1 through December 31, 2011. Sales are accumulated by an individual Realtor and cannot be accumulated by a Realtor team. Commission will be paid in order of closing date, not sale date. Subject to change or cancellation without notice. See a Drees Market Manager for complete details. Energy Star applicable to single family homes only.

1 2 3 4

BUILD ON YOUR OWN LOT

844-9288

Decorated models open Mon., Tues., Fri., and Sat. 11-6, Sun 12-6, Weds. and Thurs. by appointment. *By appointment only. **Open Mon.-Sat. 11-6, Sun 12-6

4th Closing:

4% Commission

dreeshomes.com

REALTOR® Review

Spring 2011

generations

approaches

adviser different

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knowledge gen x properties

different client approaches

consulting resource

teamwork

generations

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gen y

expertise

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advise

Real estate agents: Plug into Gen X, Gen Y buyer preferences BY BERNICE ROSS

Are you still marketing your business with personal brochures, glamour shots of yourself taken more than a decade ago and other agent-centric approaches? If so, it’s time to shift gears to fit the demands of the next generation of buyers and sellers. Real estate has evolved over the last several decades from being broker-centric to being agentcentric, and then to being client- centric. The question is: What model is best suited for today’s clients? In the client-centric model, the agent is seen as a “trusted adviser” who guided clients through the buying or selling process. The Spring 2011

“Trusted Adviser Model” (as well as the agent-centric “me-me-me” model) is still common in real estate. If you’re still marketing using the “we’re No. 1 approach” or plastering your face all over postcards, bus benches and billboards, your money and time are better spent making your materials more client-centric. Different generations require different approaches Today, agents must modify their marketing and negotiation strategies to adapt to four different generations. For those born before 1965 (boomers and their ilk), the trusted

adviser model is still important since they value expertise. They expect their REALTOR® to know more than they do. This includes having a strong knowledge of the inventory, strong negotiation skills and a mastery of the best technology. In contrast, those in Gen X and Gen Y (born after 1964), don’t value expertise in the same way. A major source of friction between older agents and younger clients has to do with how older agents approach this important issue. The older agents understand the value of their knowledge and how it can help younger clients achieve See PLUG INTO GEN X on page 10 REALTOR® Review

PLUG INTO GEN X

To illustrate, it’s common for agents to recommend list prices on a listing appointment. The strongest agents will also outline a 90-day marketing plan that they will use to sell the property. This approach falls into the Trusted Adviser model.

adviser

knowledge gen x properties generations

different approaches

success

continued from page 9

different client approaches expertise

goals

consulting resource generations

process

win-win

gen y

expertise

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knowledge

In the Trusted Resource Model, the agent outlines a 90-day marketing plan and then asks the seller for input about which services the seller would like to use in marketing the property. The agent also provides the comparable sales information. The key point of differentiation here, however, is how this is handled.

advise

their real estate goals. So, it can be particularly frustrating for them when younger clients seem to ignore what they have to say. The model for 2011: The Trusted Resource Model

The new model for 2011 is what I call “The Trusted Resource Model.”

In the Trusted Resource Model, instead of telling the seller, “You should list your property at $244,500,” the agent would say the following: “As you can see from comparable sales, the properties in this area are selling from $120 to $150 per square foot. The properties that have sold for $140 to $150 per square foot were all built in the last five years.

numbers, where would you like to position your house in the marketplace?” The power of this trusted resource approach is that it works with all generations. While the boomers may appreciate the fact that an agent has searched out and compiled the information they need, Gen Xers may appreciate being directed to where they can find the information. Those from Gen Y may prefer to do their own research, but they tend to check with their friends rather than searching exclusively on their own. The Trusted Resource Model puts the agent in the position to provide access to the information and knowledge needed to close the deal. The client determines what and how to use that information. In fact, the most important thing for real estate agents to keep in mind in almost any aspect of the real estate transaction is: “It’s not your house, it’s not your mortgage and it’s not your decision.”

Most agents would agree the deals that go the most smoothly are those in which everyone works together. This team approach The script that illustrates this and creates a win-win environment for is a great way to end almost any virtually everyone involved. This close is this: “It’s your house. It’s model is neither agentyour decision. What centric nor client-centric. The Trusted Resource Model would you like to do?” In the more traditional puts the agent in the position Trusted Adviser Model, to provide access to the the agent often tells the client what to do. The information and knowledge challenge is that most needed to close the deal. people want to be in charge of their own de- The client determines what and cision making.

If you’re looking for a way to work with all generations that really works, make yourself into your clients’ most trusted resource.

Bernice Ross, chief executive officer 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’ five-minute daily real estate show, just named “new and notable” by iTunes, at www.RealEstateCoachRadio.com. You can contact her at Bernice@RealEstateCoach.com or @BRoss on Twitter.

how to use that information.

The Trusted Resource Model establishes the agent as a conduit of information. The agent’s role is to provide the best information possible, so the buyer or seller can make the best decision possible. 10

REALTOR® Review

“Properties with amenities similar to yours that were built in the 1960s are well maintained and have not been updated. They have been selling for $120 to $135 per square foot. Based upon these

Spring 2011

2010 IN REVIEW

Seizing Windows of Opportunity Despite the market challenges in 2010, the Raleigh Regional Association of REALTORS® continued to provide valuable resources and value to members.

Government Affairs The RRAR Government Affairs Department and Committee focused on continuing education about changing laws and regulations, lobbying and advocacy, and REALTOR® Political Action Committee (RPAC) fund raising. Spring 2011

The Government Affairs Committee, headed by Christina Dresp of e-Realty, hosted eight educational meetings on such topics as marketing green homes; Real Estate Settlement Procedures Act (RESPA) changes and closing attorney guidance; Home Affordable Fore-

RPAC-supported candidates were successful in 11 of the 12 political races in 2010 – a 92 percent average. See 2010 IN REVIEW on page 12 REALTOR® Review

2010 IN REVIEW closure Alternatives (HAFA) and Home Affordable Modification Program (HAMP) federal housing assistance programs; and legislative updates from North Carolina Association of REALTORS®. The committee also participated in some joint forums with the Triangle Community Coalition, including one on commercial lending practices and forecast. Government Affairs Department staff took REALTOR® grassroots lobbyists to the General Assembly in June and to Washington, D.C., as part of the yearly “hands on” lobbying for members. “Few things are as rewarding as when members are put together with their elected officials in an environment where they can be true advocates for their industry,” said Tara Robbins, RRAR Government Affairs director. The Government Affairs Committee continued its mission of industry advocacy through candidate inter-

REALTOR® Review

views and assessments. The interview process is a two-way opportunity to listen to candidates about their position and philosophy, and share the REALTOR® positions and philosophy. REALTOR® and RPACsupported candidates were successful in 11 of the 12 political races in 2010, a 92 percent average. RPAC fund raising was challenging again in 2010, as members faced a less robust market and the end of the First-Time Home Buyer Tax Credit. Even in the tough market, RRAR raised more RPAC money than any other local association in North Carolina. Thank you to all our members who supported RPAC! The Government Affairs Department also helped to support the Triangle REALTORS® Leadership Academy by presenting a half-day government and politics program in which elected officials and city and county managers shared leadership stories.

Membership Services RRAR President Theresa Clark and the 2010 Board of Directors were inducted and honored at the Inaugural Ball Jan. 15, and Carolyn Kasdorf was awarded REALTOR® of The Year. 2009 President John Woods hosted the Directors Appreciation Dinner on April 27 at Giorgio’s. A series of RRAR membership meetings included an FHA 203(k) Orientation Session, Down Payment Assistance Seminar, A Marketing Seminar with Rossi Speaks, Short Sales Seminar and Hot Topics with Miriam Baer of the North Carolina Real Estate Commission. A couple of BOSS (Broker Owner Support System) meetings featured Spice Up Your Marketing with Rossi Speaks and Short Sales Answers. The annual Raleigh Regional Association of REALTORS® Charity

Spring 2011

Golf Tournament was at Lonnie Poole Golf Course, North Carolina State University Campus on June 7. The Top Producers Council was 31 members strong. With a variety of sponsors for the year, it offered six lunch meetings. The council presented speaker Tamara Bunte, a master coach and owner of The Institute for Advanced Results L.L.C., for membership on March 24. Council members gave back to the community with donations to 10 different charities. YPN (Young Professional Network) started the year off with Zan Monroe, an inspirational author and speaker. That was followed by three other lunch meetings and a summer social. Ray Larcher, CEO and president of RRAR, facilitated a one-day, all-day strategic planning session Oct. 5 with 17 REALTORS® and five staff members.

Spring 2011

RRAR Real Estate Trends had a full house Oct. 21. Featured speakers were Stacey Anfindsen, who provided local real estate stats; Kenneth Atkins, Wake County Economic Development executive director; and Dr. Michael Walden, a North Carolina State University economist. RRAR hosted its annual Christmas Party on Dec. 7. During the RRAR Christmas Party and Awards Ceremony, members recognized the 2010 officers, directors, committees chairs, and Hall of Fame recipients Diana Lambeth, Lanse Houston and Mary Edna Williams. For the first time, RRAR presented the Emeritus

Award, honoring REALTORS® who have been in the industry for 40 years. 2010 recipients were: Zack Bacon, Robert Dodd, J.C. Glenn, Carol Fortune, Beverly Ford, G. Smedes York, Hal Worth, John Morisey and Pat Juby. The Professional Standards Committee’s annual training for directors and committee members was instructed by Vicki Ferneyhough on Feb. 4. Three cases brought before the committee led to one arbitration and two ethics proceedings. The RRAR Company Store continued to serve members in an outstanding way. See 2010 IN REVIEW on page 14

REALTOR® Review

2010 IN REVIEW

The Shepherd’s Table Soup Kitchen to help feed the hungry.

Community Service Committee Working with a broad spectrum of organizations, the Community Service Committee strives to give back to the community every year through volunteer efforts and donations. Despite the challenges of 2010, this year was no exception. Committee members and other board members provided much-needed resources and services to an expanded list of local charities. Members joined in for two Support Our Troops donation drives, which sent about 20 to 25 boxes of collected items each time to the largest USO distribution center in Baghdad. Real

REALTOR® Review

Estate agent Terry Benson had taken a 12-16 month position with the USO and rallied RRAR’s help. Five annual Community Service Committee Scholarships totaling $6,000 were distributed to local high school seniors with outstanding community service and academic records. Recipients were: Nicholas Savage, $2,000, attending North Carolina State University; Sarah Kline, $1,000, attending Duke University; Ashley Stacy, $1,000, attending East Carolina University; Kathryn Hornaday, $1,000, attending North Carolina State University; and Dana Andersen, $1,000, attending UNC-Chapel Hill. In addition to a donation of $500, volunteers worked at

A $150 donation was given to The Passage Home, an organization that assists women recovering from abuse, drugs, jail, etc., by teaching them skills that will help them provide for their families. The donation was used to purchase knitting needles and supplies. A total of $1,000 was donated to The Miracle League of the Triangle to help enable children with disabilities to enjoy the fun and team spirit of playing baseball on a specially designed field at Adams Elementary school in Cary. Volunteers acted as buddies, cheerleaders and coaches to the children. Everyone is a winner at these games! Seven volunteers set aside time to read to students at Hope Elementary. In addition, the committee supported Operation School Bell, which provided backpacks

Spring 2011

filled with new clothing and shoes for more than 800 disadvantaged elementary school children throughout the Triangle. In addition to a $1,000 donation, committee volunteers sorted clothing for the program. A $1,000 donation was made to the Paul McCarthy Scholarship, a community service-based scholarship at North Carolina State University. About 900 angels were adopted in 2010 Project Angel Tree, fulfilling Christmas wishes for more than 200 children. Thanks to all who participated for your kindness and generosity. And thanks also to everyone who supported our first Dine Out Night, which helped to provide the necessary funds to cover any angels who had not been adopted. A $250 donation was made to help a Centralized Showing Service assistant manager who lost his parents, house and possessions in

Spring 2011

a fire. The rented home had been uninsured. Additional funds were used to purchase clothing for his family and help pay for temporary housing while his daughter underwent burn center treatment.

Triangle REALTORS Leadership Academy ®

RRAR offered its third annual 2010 Triangle REALTORS® Leadership Academy, with Morty Jayson as dean. According to Diana Braun a 2010 graduate:

team building, media training and public relations, financial programs, government affairs, etc., and felt the value was well worth the money and time. Any time you invest in your personal and professional growth, you take away new skill sets that last a lifetime. “One of my favorite experiences came from visiting the legislators in downtown Raleigh and advocating for our profession

“TRLA was an amazing

on a pending bill.

experience.

“Meeting the academy members

“When I first considered

in our class and getting to know

applying to the academy, I

them was a blessing! We have

reviewed the course schedules

become friends for life!

for the eight learning modules,

“This opportunity has enriched

covering leadership concepts,

my life, and I would encourage

communication skills, planning

others to apply to the academy

and administration,

See 2010 IN REVIEW on page 18

REALTOR® Review

m o M l o d I n a c i r e m A d n a R REALTO 速

RRAR Member Judy McCreery and her family have been busy this spring supporting their son Scotty McCreery in his successful stint on American Idol. When not in Los Angeles rooting for Scotty, the family resides in Garner. At print, Scotty was in the final five and holding strong. The 17 year old has a deep alto voice and sings country like a star.

REALTOR速 Review

RRAR members have rallied to support Scotty and wish him well. Members agree that he has a great chance of becoming the

next American Idol. In any case, we know he has a promising future in the music industry.

Spring 2011

TCAR Presents Frontier Awards

Smedes York Wins Top Commercial REALTOR® Award

The annual Triangle Commercial Association of REALTORS® awards ceremony at the Carolina Country Club in Raleigh in March included the presentation of the 2011 Commercial REALTOR® of the Year Award, in addition to other special Frontier Awards, and the induction of members into TCAR Million Dollar Clubs and the Lifetime Million Dollar Club. Smedes York of York Properties was named the 2011 Commercial REALTOR® of the Year, the most prestigious of the Triangle Commercial Association of REALTORS® (TCAR) Frontier Awards. In his acceptance speech, York asked that his colleagues get involved in their community and volunteer for an organization that is important to them. This year’s awards ceremony guest speaker was John Forslund, National Hockey League broadcasting and Versus announcer. Forslund, who is in his 16th season as the Hurricanes’ television play-by-play announcer, 20th year with the club and 27th year in professional hockey, spoke about this year’s Hurricane hockey season. Every year Frontier Awards nominations are submitted, and a panel of past presidents and REALTORS® of the Year select recipients based on qualifications that have been determined by the group. Spring 2011

Other Special Recognition Frontier Awards included: Pete Chenery of Realty World – President’s Circle Award Etherlene Pierce of Hilltop Home – Community Leader Award Elizabeth Raiford of Tacquire – William P. Eyerman Award E. Michael Kornegay of Commercial Associates – Busy Broker Award Raleigh-Durham International Airport (RDU) for the new terminal – Development of the Year Award Trail Blazer Awards recognized up-and-coming firms, and the Sales Transaction Award and Lease Transaction of the Year Award recognized sales accomplishments. Inductees for the Million Dollar Clubs represent the five specialties in the commercial industry: sales, land sales, office leasing, retail leasing and industrial leasing. This year, TCAR inducted into the Lifetime Million Dollar Club brokers who earned Million Dollar Club Awards for the last five years. TCAR President Shane Bull of Grubb and Ellis|Thomas Linderman Graham presided over the awards ceremony.

Smedes York (left) of York Properties accepts the 2011 Commercial REALTOR® of the Year Award, presented by Frank Quinn of Colliers International, the 2010 winner.

Congratulations, Commercial REALTOR® of the Year! Smedes York of York Properties, 2011 Commercial REALTOR® of the Year, has spent much of his career in real estate and construction, and has served the community in many ways. In the late 1970s and early 1980s, he was a Raleigh City Council member, representing District E. From 1979 through 1983, he served two terms as mayor of the city of Raleigh. York has been a member of numerous boards and the recipient of many accolades, including induction into the Raleigh Regional Association of REALTORS® Hall of Fame. REALTOR® Review

2010 IN REVIEW continued from page 15

in the future. Sharing my experience with several colleagues led two of them to apply for the class of 2011. They both were accepted into the program, and they, too, see the value in Triangle REALTOR® Leadership Academy! “Thank you to the Raleigh Regional Association of REALTORS® for bringing together great educators for the TRLA. If I had to give you one word for this overall experience it would be: Awesome!” Congratulations to the class of 2010: Colleen Blondell, Diana Braun, Sam Brooks, David Chance, Margaret Cohen, John Hartofelis, Jean Hedges, Mike Montpetit, Christy New, Allan Nielsen, Dawn Nuzzi, Mollie Owen, Margaret Sophie, Christina Valkanoff and Norma Young.

Housing Opportunity Committee The Housing Opportunity Committee hosted its annual “Housing Hero” seminar in early fall. More than 100 members attended to 18

REALTOR® Review

hear Barbara Hess and Kat Driscol from the NC Housing Finance Agency speak on the $8,000 down-payment assistance program and tax credits available to firsttime home buyers. Mel Ellis, director of Single Family Housing Programs for the United States Department of Agriculture Rural Development in North Carolina, provided information on USDA mortgage programs and funding for these programs in Fiscal Year 2011. The committee hosted a phone bank telethon at the NBC 17 news station. The on-air panel of local REALTORS®, attorneys and lenders answered questions from potential buyers and sellers concerning credit, loan modification and refinancing, among others. The Workforce Housing certificate program was another project of the Housing Opportunity Committee. Created by Homes4NC, the North Carolina Workforce Housing Specialist (WHS) certification program is designed to provide REALTORS® with expert knowledge on the federal, state and local housing programs, and resources available to serve workforce housing buyers earning less than the area median income. It also helps specialists connect with

like-minded professionals and organizations that are increasing housing opportunities within the community. The Housing Opportunity Committee made a $5,000 donation to Builders of Hope, whose mission is to increase the availability of high-quality, safe, affordable workforce housing options. Through innovative reuse and rehabilitation, Builders of Hope incorporates economic benefits, environmental stewardship and social solutions. As social entrepreneurs, Builders of Hope sustainably revitalizes atrisk communities.

Continuing Education During 2010, RRAR offered 50 continuing education classes, which drew more than 3,400 attendees. The association also offered the Short Sale & Foreclosure certification twice in early 2010 with great success! Since 1995, more than 69,800 have taken RRAR’s continuing education programs.

One Eleven Place In 2010, RRAR continued to showcase its facility through One Eleven Place, which manages RRAR facility rental. More than 15,000 Spring 2011

people attended 216 social and corporate events at RRAR. Functions included networking events that increased visibility, such as business expos and bridal shows. RRAR’s ballrooms, boardroom and garden patio are available for a full range of business and social functions, and One Eleven Place offers all of the key elements for a successful and memorable occasion. Services range from unique catering to an expansive list of audio-video equipment.

Triangle MLS, Inc. The Triangle Multiple Listing Service launched a redesigned website at www.TriangleMLS.com. It features the new TMLS brand and includes new tools and improvements designed specifically with the TMLS user in mind. New features include improved navigation, videos on local market conditions, live chat with Help Desk associates, the ability to subscribe to RSS (Really Simple Syndication) feeds and more. These features are enhanced by the single sign-on functionality, which allows users to sign-on once to conduct all of their business. Green fields were added to the MLS system to help brokers Spring 2011

accurately describe the green attributes of a property. These fields are searchable in the MLS system, so subscribers can easily find homes with green features and/or certifications. It makes finding a home easier for buyers interested in properties with green features and allows appraisers to consider green features when determining the value of a home. Residential sold data was added to the Internet Data Exchange program. The ability to display a limited amount of sold data on IDX websites increases the site’s value to consumers and gives IDX websites a competitive advantage over most national sites. New features were added to public record (Realist) searches within the MLS system. The remaining 88 counties of North Carolina were added, pre-foreclosure and bank-owned properties are now flagged for easy identification in all counties, and 15 fields of data were integrated from the MLS system into Realist.

The Document Manager and Fax Manager tools were integrated with the MLS system to give subscribers the ability to streamline their document management processes. TMLS hosted MLS Refresh and the Technology Fair and Trade Show. The MLS Refresh event provided subscribers an opportunity to refresh their skills, learn some new tips, and check out some of the products and services available to TMLS subscribers that can be utilized in their real estate business. At the Technology Fair and Trade Show, participants heard national speaker Dick Betts talk about the power of social networking. Participants also had the opportunity to talk with more than 25 vendors at the fair about technology that can help them with their business.

Turn to the next page for an overview of 2010 TMLS statistics. REALTOR® Review

2010 IN REVIEW

Market Overview Market Overview

A Monthly Indicator from the Triangle Multiple Listing Service, Inc.

December 2010 December 2010 New Listings

This Year

Oct Nov New Listings Oct Dec Nov Pending Sales Oct Dec Nov Pending Sales Oct Dec Nov Closed Sales Oct Dec Nov Closed Sales Oct Dec Nov Days on Market Until Sale Oct Dec Nov Days on Market Until Sale Oct Dec D Nov Median Sales Price Oct Dec D Nov Median Sales Price Oct Dec Nov Average Sales Price Oct Dec Nov Average Sales Price Oct Dec Total Active Listings Available Nov Oct Dec Nov Total Active Listings Available Oct Dec Nov Percent of List Price Oct Dec Nov Percent of List Price Oct Dec Nov Housing Affordability Index Oct Dec Nov Housing Affordability Index Oct Dec Nov Months Supply of Inventory Oct Dec Nov Months Supply of Inventory Oct Dec Nov Dec

Last Year

This Year

Last Year

3,184 2,707 3,184 2,118 2,707 1,410 2,118 1,409 1,410 1,185 1,409 1,333 1,185 1,306 1,333 1,497 1,306 111 1,497 111 111 112 111 $192,400 112 $195,200 $192,400 $185,550 $195,200 $228,724 $185,550 $239,375 $228,724 $227,527 $239,375 19,472 $227,527 18,598 19,472 17,586 18,598 96.1% 17,586 96.3% 96.1% 97.2% 96.3% 177 97.2% 176 177 181 176 11.0 181 10.8 11.0 10.2 10.8 10.2

3,743 2,692 3,743 2,477 2,692 2,101 2,477 1,342 2,101 1,237 1,342 2,107 1,237 2,128 2,107 1,635 2,128 95 1,635 96 95103 96 $180,000 103 $180,000 $180,000 $177,900 $180,000 $219,707 $177,900 $215,886 $219,707 $220,387 $215,886 17,490 $220,387 17,198 17,490 16,694 17,198 96.9% 16,694 97.1% 96.9% 96.4% 97.1% 176 96.4% 179 176 176 179 9.6 176 9.2 9.68.9 9.2 8.9

Percent Change Percent Change - 14.9% + 0.6% - 14.9% - 14.5% + -0.6% 32.9% - 14.5% + 5.0% - 32.9% - 4.2% + -5.0% 36.7% - -4.2% 38.6% - 36.7% - 8.4% - 38.6% + 16.9% - +8.4% 16.4% + 16.9% + 8.7% 8 7% + 16.4% + 6.9% + 8.7% 8 7% + 8.4% + 6.9% + 4.3% + 8.4% + 4.1% ++4.3% 10.9% + 4.1% + 3.2% + 10.9% + 11.3% + 3.2% + 8.1% + 11.3% + 5.3% + 8.1% - 0.8% + 5.3% - 0.9% - 0.8% + 0.8% - 0.9% + 0.7% + 0.8% - 1.4% + 0.7% + 2.9% - +1.4% 14.0% ++2.9% 17.4% + 14.0% + 14.5% + 17.4% + 14.5%

5-Year Average 5-Year Average 3,933 3,095 3,933 2,526 3,095 1,990 2,526 1,665 1,990 1,462 1,665 2,127 1,462 1,886 2,127 1,864 1,886 89 1,864 93 8995 93 $187,491 95 $185,694 $187,491 $186,960 $185,694 $231,001 $186,960 $229,739 $231,001 $231,262 $229,739 $231,262 --

This Year Last Year Percent Year-toYear-toChange ThisDate Year LastDate Year Percent Year-toYear-toChange Date Date 41,110 39,763 + 3.4% 43,817 42,455 + 3.2% 41,110 39,763 + 3.4% 45,935 44,932 + 2.2% 43,817 42,455 + 3.2% 18,063 19,972 - 9.6% 45,935 44,932 + 2.2% 19,472 21,314 - 8.6% 18,063 19,972 - 9.6% 20,657 22,551 - 8.4% 19,472 21,314 - 8.6% 17,840 18,363 - 2.8% 20,657 22,551 - 8.4% 19,146 20,491 - 6.6% 17,840 18,363 - 2.8% 20,643 22,126 - 6.7% 19,146 20,491 - 6.6% 104 101 + 2.4% 20,643 22,126 - 6.7% 104 101 + 3.5% 104 101 + 2.4% + 3.9% 105 101 3 9% 104 101 + 3.5% $189,300 $182,500 + 3.7% + 3.9% 105 101 3 9% $189,900 $182,000 + 4.3% $189,300 $189,500 $182,500 $182,000 + 3.7% + 4.1% $189,900 $228,008 $182,000 $223,561 + 4.3% + 2.0% $189,500 $228,783 $182,000 $222,764 + 4.1% + 2.7% $228,008 $228,692 $223,561 $222,588 + 2.0% + 2.7% $228,783 $222,764 + 2.7% $228,692 $222,588 + 2.7% ----

-97.2% 97.0% 97.2% 97.0% 97.0% 157 97.0% 161 157 160 161 160--

-96.4% 96.4% 96.4% 96.4% 96.4% 173 96.4% 174 173 174 174 174--

-96.5% 96.6% 96.5% 96.6% 96.6% 171 96.6% 172 171 172 172 172--

---0.2% - 0.2% - 0.2% - 0.1% - 0.2% + 1.3% - 0.1% + 1.0% + 1.3% + 1.1% + 1.0% + 1.1% --

5-Year Year-to5-Year Date Year-toAverage Date 45,135 Average 48,230 45,135 50,756 48,230 24,138 50,756 25,803 24,138 27,265 25,803 23,847 27,265 25,733 23,847 27,597 25,733 90 27,597 90 9090 90 $186,640 90 $186,460 $186,640 $186,300 $186,460 $231,363 $186,300 $231,238 $231,363 $231,248 $231,238 $231,248 --96.4% 96.4% 96.4% 96.4% 96.4% 96.4% ----

All data from Triangle Multiple Listing Service, Inc. Reports are created and maintained by 10K Research and Marketing.

Annual Review Annual Review

All data from Triangle Multiple Listing Service, Inc. Reports are created and maintained by 10K Research and Marketing.

Provided by the Triangle Multiple Listing Service, Inc. Provided by the Triangle Multiple Listing Service, Inc.

April Closed Sales 36,072

April Closed Sales 34,215 36,072

34,411

Days on Market Until Sale$180,000 $173,000

34,215

January through April

36,072

Days on Market Until Sale91$180,000

22,126

98.4%

- 5.1%

2006

2007 98.4%

Median2006 Sales Price2007 $190,000

Median Sales Price

$180,000

$190,000

+ 5.6% + 5.6%

2006 2006

2007 2007

- 27.2%

98.3%

- 27.2%

2008

20,643

98.0%

2009

98.3%

2008 $190,000 $190,000

- 0.0% - 0.0%

2008 2008

- 6.7%

2010 98.0%

2009 $182,000 $182,000

- 4.2% - 4.2%

2009 2009

+ 3.7%

- 6.7%

- 11.2% - 11.2%

20,643

105

24,924 24,924

$190,000 101

76 22,126

105

101

$173,000

34,215

- 5.1%

$190,000

January through April

36,072

34,411

98.4% 2006

+ 3.7%

2007

98.4%

2010 $189,500 $189,500

98.3%

98.0%

+ 10.9%98.0%

2009

98.0%

97.2%

- 0.3%

2006

- 0.3%

2007

2006

2007

97.2%

- 0.8% - 0.8%

2008

+ 3.9%

2010

98.0% 2009

Percent of List Price Received at Sale 96.6% 98.3%

+ 3.9%

+ 10.9%

98.3%

+ 4.1%

2010

98.3% + 15.8% 2008

Percent2006 of List Price2007 Received at2008 Sale

+ 4.1%

2010

+ 15.8%

96.6%

- 0.7% - 0.7%

2009

2010 96.4% 96.4%

- 0.1% - 0.1%

2010

All data from Triangle Multiple Listing Service, Inc. Reports are created and maintained by 10K Research and Marketing.

速 All data from Triangle Multiple Listing Service, Inc. Reports are created and maintained by 10K Research and Marketing. REALTOR Review

Spring 2011

Local Market Update – March 2011 A RESEARCH TOOL PROVIDED BY TRIANGLE MLS

Entire Triangle Region

- 15.4%

- 13.6%

- 1.1%

Change in New Listings

Change in Closed Sales

Change in Median Sales Price

March

Year to Date

2010

2011

+/–

2010

2011

+/–

New Listings

5,629

4,764

- 15.4%

14,046

11,552

- 17.8%

Closed Sales

1,847

1,596

- 13.6%

4,135

3,833

- 7.3%

Median Sales Price*

$183,000

$181,050

- 1.1%

$179,500

$180,000

+ 0.3%

Average Sales Price*

$221,455

$211,738

- 4.4%

$217,646

$217,302

- 0.2%

Total Dollar Volume (in millions)*

$408.4

$337.6

- 17.3%

$898.9

$831.8

- 7.5%

Percent of Original List Price Received*

92.6%

91.5%

- 1.1%

92.0%

91.4%

- 0.7%

Percent of List Price Received*

96.5%

95.9%

- 0.6%

96.2%

95.9%

- 0.3%

104

131

+ 26.1%

105

127

+ 20.6%

Inventory of Homes for Sale

19,207

17,733

- 7.7%

Months Supply of Inventory

10.1

10.7

+ 6.5%

Days on Market Until Sale

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

2010

March

2011

2010

Year to Date

5,629

2011

14,046

4 764 4,764

11,552

1,847

1,596

4,135

3,833

- 15.4%

- 13.6%

- 17.8%

- 7.3%

New Listings

Closed Sales

New Listings

Closed Sales

Change in Median Sales Price from Prior Year (6-Month Average)**

All MLS

Entire Triangle Region

+ 10% + 8% + 6% + 4% + 2% 0% - 2% - 4% - 6% - 8% 1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

** 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. | All data provided by Triangle Multiple Listing Service, Inc. | Powered by 10K Research and Marketing.

For further information regarding TMLS Market Trends and Analysis please visit: www.trianglemls.com

Spring 2011

REALTOR® Review

2010 IN REVIEW

Local Market Update – March 2011 A RESEARCH TOOL PROVIDED BY TRIANGLE MLS

Wake County

- 16.6%

- 15.1%

- 2.1%

Change in New Listings

Change in Closed Sales

Change in Median Sales Price

March New Listings Closed Sales

Year to Date

2010

2011

+/–

2010

2011

+/–

2,891

2,410

- 16.6%

7,344

5,843

- 20.4%

1,028

873

- 15.1%

2,249

2,010

- 10.6%

Median Sales Price*

$204,375

$200,000

- 2.1%

$200,989

$200,000

- 0.5%

Average Sales Price*

$252,085

$237,548

- 5.8%

$247,568

$239,568

- 3.2%

Total Dollar Volume (in millions)*

$259.1

$207.4

- 20.0%

$556.8

$481.5

- 13.5%

Percent of Original List Price Received*

92.9%

92.5%

- 0.4%

92.8%

92.2%

- 0.6%

Percent of List Price Received*

97.0%

96.5%

- 0.5%

96.9%

96.5%

- 0.4%

102

125

+ 22.7%

104

121

+ 17.1%

Inventory of Homes for Sale

9,375

8,348

- 11.0%

Months Supply of Inventory

9.0

9.6

+ 6.2%

Days on Market Until Sale

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

2010

March

2011

2010

Year to Date

2011

7,344

2 891 2,891

5,843

2,410

1,028

2,249

873

2,010

- 16.6%

- 15.1%

- 20.4%

- 10.6%

New Listings

Closed Sales

New Listings

Closed Sales

Change in Median Sales Price from Prior Year (6-Month Average)**

All MLS

Wake County

+ 15%

+ 10%

+ 5%

- 5%

- 10% 1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

For further information regarding TMLS Market Trends and Analysis please visit: www.trianglemls.com

REALTOR® Review

Spring 2011

What’s Behind Door Number...

$2000 Broker Bonus on any contract written by May 30, 2011 & Additional $1000 Broker Bonus on any home closing by June 30, 2011! REYNOLDS MILL

HOMES NOW AVAILABLE: SOUTHAMPTON

Knightsbridge Farmhouse 208 Rockywalk Court

4 Bedrooms & 2.5 Baths - Kitchen has maple cabinets, granite counters & stainless steel gas appliances 3,140 sq. ft. MLS# 1773941

301

Solebury Grand

331

5 bedrooms & 4 full baths - Brick front & side entry garage 3714 sq. ft. MLS# 1768381

5 bedrooms & 4 full baths - .40 of an acre home-site - Large master suite w/ lots of closet space 3800 sq ft

SOLD

627 Sealine Drive

512 Sealine Drive

100 Pathwood Lane

4 Bedrooms, 2.5 Baths - Tray ceiling in dining room - Playroom on 2nd floor 3278 sq ft MLS# 1763171

$220,000

4 Bedrooms & 2.5 Baths 2530 sq ft MLS# 1772560

SOLD

4 Bedrooms & 3 Baths, Ranch plan - 42” maple cabinets & Corian countertops - Large front porch 2281 s.f.

SOUTHAMPTON

Providence II Classical w/Stone 1305 Fenwick Parkway

($30,000 Design Center Incentive!)

Bennet Federalist

SOLD

Portsmouth IV Farmhouse w/stone

$271,715

4 Bedrooms & 2.5 Baths - Gourmet kitchen 2,374 sq ft MLS# 1765971

Providence Farmhouse A

- 4 Bedrooms & 2.5 Baths - 8 ft. breakfast area extension - 42” maple cabinets & granite countertops 2688 s.f. MLS# 1773088

1307 Fenwick Parkway

4 Bedrooms & 3 Baths - Flex room/bedroom 5 on 1st floor - Playroom on 2nd floor 2676 sq ft

$280,595

($30,000 Design Center Incentive!)

Westminster Federalist #

500

5 Bedrooms & 3 Baths - Guest suite on first floor - 2’ breakfast nook extension 3000 sq ft

$322,225

Knightsbridge

4 Bedrooms, 3.5 Baths

$429,900 SOLD

www.OrleansHomes.com

LEGEND OAKS

SOUTHAMPTON

TRINITY RIDGE

919-967-6363 / Single Family Homes from the $370’s

919-484-4070 / Single Family Homes from the $240’s

919-484-4070 / Single Family Homes from the $300’s

DURHAM

2003 Ollivander Drive

4 Bedrooms & 2.5 Baths - 9’ ceilings on 1st & 2nd floors - Open oak stairs & rear stairs 2,566 sq ft

216 Rockywalk Court

LEGEND OAKS

510 Sealine Drive

CHAPEL HILL

SOLD

$252,990

Waterbury III Farmhouse

AVAILABLE IN MAY:

3 bedrooms 2.5 baths - First floor master - Granite counters & upgraded cabinets - 2 car garage MLS# 1750876

$295,607

REYNOLDS MILL

$264,990

Macon

SOLD

Knightsbridge Federalist

$263,495

3 bedrooms & 2.5 baths - End unit with tons of windows - Granite counters, upgraded cabinets & stainless steel appliances 2335 sq ft MLS# 1750883

5 Bedrooms, 3 Baths & playroom

$286,612

REYNOLDS MILL

$242,798

595

- 5 Bedrooms, 4 Baths & 1st floor guest suite - 4’ breakfast nook extension - Playroom on 2nd floor 3642 s.f. MLS# 1740659

SOLD

Monroe II Grand #

210 Pathwood Lane

SOUTHAMPTON

3 bedrooms & 2.5 baths - End unit with screened porch - Granite counters, upgraded cabinets & trim, double ovens, & gas cook top 2335 sq. ft MLS#1773529

Bennet Farmhouse

Waterbury III #

$360,839

Monroe II Grand

$244,900

501

TRINITY RIDGE

WELDON RIDGE (GROVE) #

Solebury Grand Farmhouse

AVAILABLE IN APRIL:

104 Bridleboast Rd

$474,900

- 4 Bedrooms & 2.5 Baths - 42” maple cabinets in kitchen - Screened-in porch and large patio 2675 s.f. MLS# 1757668

$359,000

Brookfield II

WELDON RIDGE (ARBOR)

201 Forbes Road

TRINITY RIDGE #

600 IvyShaw Rd.

$485,000

AVAILABLE IN MAY:

$259,990

$319,000

WELDON RIDGE (ESTATES)

Waterbury III Farmhouse A

DURHAM

WELDON RIDGE

CARY / 919-303-1982 The Estates- Single Family Homes from the $400’s The Arbor- Single Family Homes from the $200’s The Grove- Townhomes from the $190’s

WELCOME NEW MEMBERS Stephanie R. Anson, Flat Fee Realty L.L.C.

Diana M. Gregory, San Marco Inc.

Edith B. Nelson, Flowers Plantation Info & Sales

Martin J. Arlander, Howard Perry & Walston Realty

Miranda S. Gregory, Howard Perry & Walston Realty

Atefe M. Northcutt, Allen Tate Co. Inc.

Ellen Beaver, Allen Tate Co. Inc.

Neeta D. Gropper, Howard Perry & Walston Realty

Edward K. Bell Jr., 1st Signal Corp. Vaughn Berry-Daniel, Allen Tate Co. Inc.

Nicole A. Hackworth, Rochelle Moon Realty

Barry E. Oldham, Encore Properties Olumide A. Olurinmade, Covenant Realty Associates L.L.C. Tammy M. Orebaugh, 1st Signal Corp.

Loretta Bertolino, Re/Max United

Dina L. Hamad, Northside Realty Inc.

Jennifer J. Bishop, Howard Perry & Walston Realty

John A. Hamilton, Equity Saver Plus Realty Thomas A. Harman, Ryan Realty

Kimberly A. Parker, Fathom Realty

Teresa L. Bowen, Keller Williams

Kim Harrison, Re/Max One Realty

Joanne Penezic, Regan & Co.

Alicia N. Cadet, Coldwell Banker Advantage

Lawrence W. Harrison, Parler Properties L.L.C.

Gary S. Calvert, Howard Perry & Walston Realty

Jacquelyn B. Harvey, Howard Perry & Walston Realty

Victoria P. Petraglia, Certified Residential Appraisal

Jacqueline Kelly Carrabba, Howard Perry & Walston Realty

Brian E. Hutchinson, The New Home Group

Elizabeth A. Clor Knight, Howard Perry & Walston Realty Pamela A. Cola, Fonville Morisey Dawn E. Coley, Keller Williams Realty Susan C. Conroy, Howard Perry & Walston Realty Colleen E. Cox, Cox & Company Property Management Inc. Jared L. Cozart, Keller Williams Krista M. Cutler, Exit Realty First Choice

Robbie-Lane S. Jackson, Real Living Pittman Properties Laurel M. Jawny, Garman Realty Lisa M. Jeffries, CityGate Real Estate Services Kimberly C. Johnson, Triumph Realty Inc. Michael W. Johnson III, Rich Realty Group Bruce A. Jones, Allen Tate Co. Inc. Thomas C. Jordan, Carolina Auction & Realty Patricia D. Kiley, Weichert Realtors-Triangle Aaron J. King Jr., ERA Pacesetters Realty

Aubrey L. Palmer, Allen Tate Co. Inc.

Jeremy L. Pierce, Keller Williams Mary Ellen Posedel, M/I Homes of Raleigh L.L.C. Mary E. Potter, Raleigh Custom Realty L.L.C. Lisa J. Rison, Howard Perry & Walston Realty Allison Rodrigues, Golden Realty & Management Miryam I. Rubio-Driggers, Howard Perry & Walston Realty Michelle C. Russo, Fonville Morisey John W. Sanford, Howard Perry & Walston Realty Tanya M. Sasser, Northside Realty Inc. Piper M. Schlage, Raleigh Metro Properties

Shannon M. Davis, Keller Williams

Jhansi Kolla, Real Triangle Properties

Alexander H. Denson, Howard Perry & Walston Realty

Michael J. Kroll, Keller Williams

Sue A. Schoonderwoerd, Northside Realty Inc.

Jean M. Kunkel, Pine Grove Appraisal

Sujung Shin, City Realty & Investment Group

Patricia Y. Dillard, Carolina RealtyMax Inc.

Allen Lee, Legacy Real Estate Properties

Bridget A. Smith, Keenan Realty

Renae English, Keller Williams

William T. Lemon, Equity Saver Plus Realty

Craig D. Smith, Dan Ryan Builders NC L.L.C.

Robert D. English Jr., Keller Williams

Robert L. Liles, HomeTowne Realty Group

Cynthia L. Faltisco, Prudential York Simpson Underwood

Robert Little Jr., Howard Perry & Walston Realty

Thomas Spicci, D.R. Horton Inc.

Julie Farrell, Tate & Harrell Inc.

Jeff J. Logsdon, Howard Perry & Walston New Homes

Carlos G. Febres, Allen Tate Co. Inc. Gary Fisher, Northside Realty Inc. Stacy S. Fisher, Serenity Homes-By-Holmes R.E. Esmeralda Fletcher, Sunshine Realty L.L.C. Latonya Foster, Fonville Morisey Heather E. Franczak, Realty World Molloy & Associates Alicia Frazier, CityGate Real Estate Services Steven M. Friedman, Allen Tate Co. Inc. Wendy J. Gallovitch, Paramount Realty Molly A. Galloway, Beazer Homes Cecilia F. Gelnar, Carolina RealtyMax Inc.

Brady J. Stanley, Pan Realty L.L.C. Joe-Don Stevenson, Exit Select Realty Ann K. Straub, Realty World on Salem Street

Gregory B. Lovette, Keller Williams

Donna Sugar, Beazer Homes

Hank Mailand, Fonville Morisey

Patrick M. Tobler, Horizon Management Co. Inc.

Hailey E. Maroncelli, Fathom Realty

Timothy Triggs, Fonville Morisey

Wendy L. Marrello-Morrison, Chatham Homes Realty Chris Martin, Fonville Morisey Margaret Martin, Fonville Morisey Brittany McCullough, Fonville Morisey Lindsay S. McGlennon, Chatham Homes Realty Christopher C. McLaurin, ERA Pacesetters Realty Rodney McNabb, Champion Realty Inc.

Stephanie A. Trojan, Keller Williams Michael D. Truman, Keller Williams Luis Turner, Youngsville Realty Inc. William J. Ulmer, D.R. Horton Inc. Maria T. Venegas, Howard Perry & Walston Realty Paul D. Virtue, Coldwell Banker Advantage

Nicholas M. Giuggio, Fathom Realty

David C. Meeker, Carpenter Real Estate Group

Lindsay Webb, Fonville Morisey

Garry J. Glover, Prudential York Simpson Underwood

Li Meng, CHK Realty Adam Miller, Powell Realty

Jacqueline K. Weintraub, Howard Perry & Walston Realty

Ervina Golden, Prudential York Simpson Underwood

Brenda Miller, Linda Craft & Team, REALTORS速

Jenniffer A. Welch, Fonville Morisey

Charisse Green, Fonville Morisey

Kriselie D. Monserrate, Howard Perry & Walston Realty

Karl Whetzel, Howard Perry & Walston New Homes

Daniel J. Gregory, Centerpoint Realty L.L.C.

Michelle Moore, Allen Tate Co. Inc.

Kristi D. Wilkie, Castle Creek Realty L.L.C.

If you would like to SPONSOR A NEW MEMBER ORIENTATION, please contact Betsy Ramsey at (919) 654-5400.

REALTOR速 Review

Spring 2011

MEASURE WHAT MATTERS to Your Real Estate Site BY GAHLORD DEWALD

One thing I consistently recommend to clients is that they install and monitor Web analytics. Not everyone does, of course. But it’s definitely the starting point for making websites better, in terms of accomplishing business goals. There can be lots of different approaches to a Web analytics program. In fact, there might even be as many unique uses for Web analytics as there are different real estate websites that have analytics installed. One company may be measuring to calculate ROI (return on investment) on paid advertising or search traffic versus social media efforts. Another company might be using analytics to listen to their customers by reviewing keyword reports and traffic patterns. A third company might be using analytics to identify conversion rates for different paid advertising headlines. A fourth might be using analytics to figure out if new visitors behave differently than repeat visitors. Depending on the goals of each company, all of these approaches are appropriate. There really isn’t a simple “four metrics every REALTOR® must track day and night or risk joining the career path of the fax boy.” Spring 2011

That said, there is an important guideline when setting up your analytics program: Measure what is important for your company’s values as much as you measure for the bottomline. Hopefully your company’s values align neatly with your bottomline already. (If not, then this should be a topic for a future column.) Here are some examples of metrics that might be aligned with your company values.

OUTSTANDING CUSTOMER SERVICE

Many real estate professionals promote their high commitment to customer service. You can measure your performance in this in several ways. • Number of social media mentions that are expressing positive senti- ment after being helped in some way. (Usually these messages include “Thanks!”) • Number of qualitative/voice-ofcustomer surveys that mention “ease of use” of website as something good about the site. • Number of non-real estate questions answered via social media. (Answering real estate questions isn’t outstanding if your business is real estate – it’s standard.)

EXPERTISE

Like outstanding customer service, many real estate professionals claim to have expertise in a geographic region or property type or type of sale. You can put some measurements in place to track your progress in being the expert. Here are a handful of metrics related to expertise: • Number of questions related to your expertise answered. • Number of new pages related to your expertise created. • Increase in expertise-topic mailing list distribution. See MEASURE WHAT MATTERS on page 26 REALTOR® Review

MEASURE WHAT MATTERS continued from page 25

MEASURING FOR VALUES, MEASURING VALUES

The purpose of metrics and analytics is to help you make better decisions so you can take better actions. If you aren’t sure how your Web analytics can really relate directly to your bottomline, start by measuring things that encourage fulfillment of your brand promises. Once you have a solid program in place that can directly relate online activity to your company revenue, continue measuring the company values metrics. Hopefully you will see a direct relation between your values-based metrics and your bottomline-based metrics.

REALTOR® Review

If you don’t see a relationship between fulfilling your brand promises and an increase in your business, then perhaps your values aren’t matched well with the people in your market or with your company. Either way, if you see no relationship between your company values and your bottomline, then it’s probably a good time to review your values.

Ultimately, the kinds of things we measure will influence the actions we take each day. If all of your key metrics are strictly focused on the bottomline, you may run the risk of losing your company “soul.” Attaching performance metrics to your values is a way to maintain your vision. Gahlord Dewald is the president and janitor of Thoughtfaucet, a strategic creative services company in Burlington, Vt.

Measure what is important for your company’s values as much as you measure for the bottomline.

Spring 2011

7 Tips to Create Real Estate Marketing Buzz BY BERNICE ROSS

Gone are the days where advertising alone does the job. The secret to having a steady stream of clients today is to create a positive buzz about your business. Word-of-mouth marketing is nothing new. We all want others to say positive things about our businesses. If you would like to get people buzzing about how great you and your services are, here are seven great ways to do it.

1. The best marketing buzz: a new listing sign with a “sold” rider in 72 hours When a for-sale sign pops up in a neighborhood, the neighbors are always buzzing about the price, the reasons their neighbors are moving and, most important, whether the agent will get the job done. If you have a reputation for selling homes quickly, you will likely have more sellers seeking out your services. You also can expect that your sellers will tell everyone they know about how their house sold quickly in this tough market.

There are literally thousands of ways to get people buzzing about you and your business. All it takes 2. Help someone avoid is a little creativity. foreclosure

Many people have the impression that most real estate agents care only about themselves and their commissions. You can get people buzzing about how great you are by helping distressed property owners find a solution to their situation. Spring 2011

For example, if a past client is facing a foreclosure sale, you can tell them about the “ask for the note strategy” to delay or stop the foreclosure. You can also refer them to an organization such as the National Association of Consumer Advocates, which performs forensic loan audits to determine if the lender violated any RESPA (Real Estate Settlement Procedures Act) or other requirements. If the lender did so, the owner now has more leverage to work out a loan modification, a short sale or some other solution.

3. Support your local team To create a positive buzz about your business, host a special event for people in your referral database. Rent a bus and take your guests to the most important away game for your local high school or college. Provide plenty of food, ice cream, souvenirs and other goodies. Arrange for a photographer and post the pictures to your website. See MARKETING BUZZ on page 29 REALTOR® Review

You’re Invited...

The Annual Raleigh Regional Association of REALTORS® Charity Golf Tournament

Event Sponsors:

Thursday - May 26, 2011

Twelve Oaks Golf Course • Holly Springs (A Nicklaus Design Golf Course)

Tournament Price*

$75 Member Cost $85 Non-Member Cost * Cost includes breakfast, green fees, driving range, beverages, prizes and lunch.

SCHEDULE OF EVENTS 8:00 AM Check In/Breakfast 8:30 AM Shot Gun Start 2:00 PM BBQ Lunch 2:30 PM Awards Ceremony

REGISTER Players can register online at www.RRAR.com Foursomes contact Vicki Buckholz at vickib@rrar.com or via phone at 919-654-5400, ext.216

REALTOR® Review

Proceeds from the event benefit the REALTOR® Foundation of the Triangle.

Spring 2011

MARKETING BUZZ continued from page 27

Send out the link to everyone who attended, as well as to any alumni you happen to know. Whether your team wins or loses, everyone will be “buzzing” about the great time they had.

4. Be “You-nique” Butch Grimes, a foreclosure/ probate specialist and president of WeTalkRealEstate.com uses a variety of methods to get people buzzing about his real estate business. In addition to hosting a 24-7 radio show, Grimes emphasizes the importance of being “You-nique.” For example, Grimes has a 20-foot-tall, inflatable open house sign that he uses to attract visitors to his open houses. To help people find his open houses, he had directional signs made with a lifesized cutout of him attached to the sign. From a distance, it looks as if he is personally standing there directing you to his open house.

advantage of this activity. When you send your buyers information about the listings you will be showing them, include as many pictures of the listings as possible. Next, ask your buyers to forward the information to their friends via e-mail or on Facebook. Make it a game. Ask their friends to predict which house your buyers will like best. Everyone has fun. You can also probably expect lots of texting going back and forth about which house will be the buyers’ favorite.

6. Help others build their businesses Do you have a favorite dry cleaner or restaurant? Do any of your clients own their own businesses? If you are a customer, post a video testimonial for them on Yelp.com as well as on their LinkedIn.com profile if they have one. Normally, when someone posts a testimonial for another person’s business, they will reciprocate with a testimonial for you.

7. Give away a conversation starter Many agents market their businesses by giving away magnets. In 2005, Inventables.com began distributing “squishy magnets.” These magnets feel like a piece of foam rubber and can be used to close doors without the doors slamming. Distributing these to your geographical farm or on your open houses will make a great conversation starter and get people buzzing about the agent who gave them this nifty little gift item. There are literally thousands of ways to get people buzzing about you and your business. All it takes is a little creativity. Bernice Ross, chief executive officer 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’ five-minute daily real estate show, just named “new and notable” by iTunes, at www.RealEstateCoachRadio.com. You can contact her at Bernice@RealEstateCoach.com or @BRoss on Twitter.

The one thing he does that gets the most buzz, however, is sending a chauffeur-driven limousine to pick his clients up at work and take them to the escrow to sign their final closing documents. You can imagine the buzz this creates among his clients, as well as their colleagues, who see them being ushered into a limousine.

5. Take advantage of social media and texting Rather than being aggravated when you work with a client who is more involved in texting than interacting with you, take Spring 2011

REALTOR® Review

RRAR events CE: Mandatory Update, 8:30 a.m. to 12:30 p.m. Instructor: George Bell

CE: BICAR, 1:30 p.m. to 5:30 p.m. Instructor: George Bell Women’s Council of REALTORS® 5

New Member Orientation, 8:30 a.m. to 3:00 p.m.

Triangle REALTORS® Leadership Academy

Happy Mother’s Day

Housing Opportunity Committee, 9:30 a.m. to 10:30 a.m.

12 Property Management Council Government Affairs Committee Meeting, 11:30 a.m. 13-14 Foundation Days, Eastgate Park 16 CE: Mandatory Update, 5:00 p.m. to 9:00 p.m. Instructor: Vicki Ferneyhough 17 Community Service Committee, noon to 1 p.m. 18 Small Business Council, 8:45 a.m. to 11 a.m. Triangle International Council of REALTORS® 19 New Member Orientation, 8:30 a.m. to 3 p.m. 25 CE: Mandatory Update, 8:30 a.m. to 12:30 p.m. Instructor: Debbie Long CE: BICAR, 1:30 p.m. to 5:30 p.m. Instructor: Debbie Long 26 Annual Charity Golf Tournament, Twelve Oaks 27 Triangle REALTORS® Leadership Academy 30 Memorial Day, office closed

CE: Mandatory Update, 8:30 a.m. to 12:30 p.m. Instructor: Mark Given

CE Elective: Foreclosure, Short Sales, REOs & Auctions, 1:30 p.m. to 5:30 p.m. Instructor: Mark Given Women’s Council of REALTORS Top Producers Council 30

REALTOR® Review

Triangle REALTORS® Leadership Academy

4-5 National Open House Weekend CE: Mandatory Update, 8:30 a.m. to 12:30 p.m. Instructor: George Bell

CE: The Forms Course, 1:30 p.m. to 5:30 p.m. Instructor: George Bell 9

CE: Mandatory Update, 8:30 a.m. to 12:30 p.m. Instructor: Tom Mahlum

Government Affairs Committee Meeting, 11:30 a.m. CE: Understanding 1031 Tax Free Exchanges, 1:30 p.m. to 5:30 p.m. Instructor: Tom Mahlum 13 Housing Opportunity Committee Meeting, 9:30 a.m. to 10:30 a.m. 14 Happy Flag Day 15 Small Business Council, 8:45 a.m. to 10 a.m. 16 New Member Orientation, 8:30 a.m. to 3 p.m. 20 Happy Father’s Day

21 Community Service Committee, noon to 1 p.m.

First day of summer

July

Triangle MLS 3rd Quarter User Fees Due

Independence Day, office closed

Women’s Council of REALTORS®

New Member Orientation, 8:30 a.m. to 3 p.m.

11 Housing Opportunity Committee Meeting, 9:30 a.m. to 10:30 a.m. 13 Housing Hero Seminar, 9 a.m.

June 1

New Member Orientation, 8:30 a.m. to 3 p.m.

May 4

14 Property Management Council 20 Small Business Council, 8:45 a.m. to 10 a.m. 21 New Member Orientation, 8:30 a.m. to 3 p.m. 25 REALTOR® Foundation of the Triangle, noon to 3 p.m. 27 Government Affairs Committee Business Meeting, 11 a.m. Spring 2011

Building Permits After the Fact Help Home Sales By John Hagan

Some of us like to pick up a hammer every now and then. I have done it myself. I finished off my own 900-square-foot finished basement years ago. Well, I did the framing myself, but left the electric, plumbing, HVAC, drywall, etc., to subcontractors. I plan on someday finishing the third-floor attic in the home I live in now. So if you do something like this, do you need to get a building permit? The answer is yes, yes, yes. Here is why. It’s becoming a hot topic in the real estate industry. When it’s time to sell your home, most real estate agents will make it clear in the listing that part of the square footage of the house was not permitted. This could be a red flag for buyers, and can lower the value of the home in the buyer’s eyes. Real estate agents, appraisers, and even lenders are pointing out these situations more and more. And, yes, there have been lawsuits involving houses sold with non-permitted square footage that was not disclosed. The other reason you need to get a permit is to make sure the work is done in a safe manner. The city inspectors are there to enforce the code, which is written in part to ensure safety for the homeowner. Believe me, I have seen way too many electrical safety Spring 2011

issues in work that was done without a permit. It is not that big of a deal to get a permit before doing an addition. You fill out the city application and call for city inspectors at certain intervals to do the inspections. You address any concerns the city inspectors have along the way. At the end, you get a final inspection, and the city issues a certificate of occupancy. The cost is not huge. For instance, in Cary a 600-squarefoot bonus room addition with a bathroom would cost you around $450 for the permit. This is not a huge portion of the whole project budget. So, what if you had a project done in your home without a building permit? There is some good

news. Most of the cities around the Triangle will let you get a permit now, even if it is years later. If a situation arises, and it is going to jeopardize the sale of the home, it is possible to get the permit after-the-fact. It takes some expertise; some rework of the area to bring it up to code, a good licensed electrician, HVAC technician and/or plumber; and a good amount of paperwork and legwork with the city inspection and permit office. I have added a service to my home inspection business called “After-the-Fact Permits.” It’s designed for those who need to get the permit, but they already completed the project without one. REALTOR® Review

bits & pieces

Franco Multari, Corporate Investors Mortgage

Raleigh Associate Program is growing The Raleigh Regional Association of REALTORS® would like to recognize and acknowledge the following 2010 Raleigh Associate Program members:

Eric Sayer, Wells Fargo Home Mortgage If you are in an allied field or any company that provides products or services to the real estate industry, we invite you to become a Raleigh Associate Program member. For more information, please contact Betsy Ramsey at betsyr@rrar.com or (919) 654-5400.

Robert Bajakian, Guaranteed Rate Tracy Colburn, Leading Images Steve Cooper, Primary Capital Advisers Derreck Foreman, East Carolina Mortgage Joseph Lee, Platinum Home Mortgage Sharon Lougee, American Home Shield

Barb Multari, Corporate Investors Mortgage B

Combination Lock Boxes 10% OFF This is the time to stock up on our best and most reliable combination lock boxes. In addition to being reliable and secure, we keep codes on file for you. 32

REALTOR® Review

Listing Lights 50% OFF WHILE SUPPLIES LAST Expand your visibility! Lights are now only $37.50 and supplies are limited. This offer is not available through the online store.

REALTOR® Water Bottles and Mugs 10% OFF A: Refresh and advertise! Prepare for the heat – Stock up on REALTOR® logo water bottles and mugs.

Open House Balloon Signs ON SALE $4.50 B: These open house signs are real attention grabbers! Regularly $7.50 each, now is a good time to stock up!

Spring 2011

Find Spring Savings at the REALTOR® Store! C E

D F

For more information, call (919) 654-7253 or send an e-mail to store@rrar.com. Click here to visit the REALTOR® Store online.

Hats for Sale! REDUCED TO $7.99 C: Great-looking REALTOR® logo khaki baseball caps protect your eyes and advertise! Normally $12.99.

NEW: REALTOR® Polo Shirt

NEW: Folding Purse Hooks

D: Spring into spring looking great with the new REALTOR® polo!

E: Keep brief cases and purses off of dirty floors. These hooks can hold up to 15 pounds beautifully.

Sale offers cannot be combined with other discounts.

Spring 2011

$12.95

NEW: Experience Results License Plate Frames ONLY $3.50 F: These frames meet legal standards and allow you to advertise as you drive. REALTOR® Review

Join state and local REALTOR® associations across the country in hosting the nation’s largest open house campaign Saturday and Sunday, June 4‐5, 2011

For one weekend in June REALTORS® will hold open houses in neighborhoods from coast to coast, bringing value to both buyers and sellers. The event also provides a tremendous

opportunity to promote the benefits of home ownership and continue an open dialogue with consumers about the housing issues that matter most to them.

Promotional materials and resources are available for REALTORS® and associations participating in REALTOR® Nationwide Open House Weekend. Visit

www.realtor.org/topics/nationwideopenhouse.

For more information on how to get involved, contact Barbara Matthopoulos with the Chicago Association of REALTORS® at 312‐214‐5511 or

bmatthopoulos@chicagorealtor.com.