ELEVATE Magazine - RASM - April 2020 Issue by REALTOR® Association of Sarasota and Manatee

April 2020

Navigating the Unknown in Real Estate 6

Ins and Outs of Escrow Deposits 14

Busy Season Ahead in Government Affairs 16

RASM Quarterly Humanitarian Award 26

In with the new DELIVERY 4TH QUARTER 2020

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WATERFRONT HOMES & HOMESITES

Downtown Sarasota

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Manasota Key

Contents APRIL 2020

COVER STORY

Property Management Council

Realtor® Attorney Joint Committee

16 19 24

Government Affairs

Ins & Outs of Escrow Deposits Mallory Moretti, Esq. with Berlin Patten Ebling, PLLC, discusses whether to use the Residential Contract for Sale and Purchase or the “AS-IS” Residential Contract for Sale and Purchase.

4 | ELEVATE [ APRIL 2020 ]

Busy Season Ahead

As we get further into 2020, RASM is gearing up for a very busy election cycle. RASM’s Political Action Advisory Committee is preparing for a robust and exciting screening and endorsement season.

Commercial Real Estate Alliance

Global Business Council

Young Professionals Network

Neighborhood Spotlight

32 34

Calendar of Events

NAVIGATING THE UNKNOWN IN REAL ESTATE

The busy spring home buying season has suddenly morphed into a peculiar season of uncertainty in just a few short weeks. COVID-19, commonly known as coronavirus, has sent us all on a roller-coaster ride as we watch the daily changes in the world around us from dealing with a lack of basic household conveniences, to the cancellation of schools and events. But what does all this mean to our local real estate community? It means in part, that now more than ever, we stand together, we work together, and we continue business as usual as professional real estate agents.

Market Analysis

Membership News

Humanitarian of the Quarter RASM has established an Humanitarian Award, to be bestowed quarterly. RASM’s goal is to recognize the Realtors® who are doing great things in our community.

PRESIDENT UPDATE

RASM South - 2320 Cattlemen Road Sarasota, Florida 34232 RASM North - (Temporary Location) 417 12th Street West, Suite 106 Bradenton, FL 34205 Phone: 941-952-3400 FAX: 941-952-3401 www.MyRASM.com

STAFF CONTRIBUTORS: Member Services Manager: Jessica Montague Director of Information Technology: Jesse Sunday Professional Development Manager: Denise Ricciotti Government Affairs Director: Maxwell Brandow Communications & Marketing Director: Gina White Magazine Editor: Beth Sunday Production: Coastal Printing, Inc.

2020 ASSOCIATION OFFICERS: President: David Clapp, RE/MAX Alliance Group President-Elect: Adam Chicoine, RE/MAX Alliance Group Treasurer: Georgina Clamage, Michael Saunders & Company Secretary: Alex Krumm, NextHome Excellence Immediate Past President: Amy Worth, RE/MAX Platinum Realty Chief Executive Officer: Jeff Arakelian

MISSION STATEMENT: We are an innovative and relevant association that elevates the standards of professional excellence, and are critical to our members’ success, while providing value to our community.

SUBSCRIPTIONS: The annual dues of every member of the REALTOR® Association of Sarasota and Manatee, Inc., includes a one-year subscription to ELEVATE Magazine. Editorial ideas and manuscripts are welcome. Byline articles and columns express the opinions of the writers and do not necessarily reflect the policies or sentiments of the REALTOR® Association of Sarasota and Manatee, Inc. All submitted copy is subject to editing. 2020 Copyright© by the REALTOR® Association of Sarasota and Manatee, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited. For information on advertising rates, artwork, and deadlines, contact Beth Sunday, Magazine Editor, at 941-952-3417 or email Beth@MyRASM.com.

Great Start to the First Quarter of 2020 By: David Clapp, RASM President

have always felt that 2020 was going to be a great year, and the first quarter did not disappoint! The sales in 2019 seemed to lag for the first couple of months, but that has not been the case in 2020. So far this year we have seen very robust sales. At RASM, we have had a great start in 2020 as well. Our committees have been working hard at implementing our Strategic Plan for 2020. Some of you have been enjoying the greatly reduced costs for NAR designation courses like GRI and CIPS, with more to come. If you have not looked at the schedule for 2020 and planned the NAR designations that you want to participate in, then now is the time to do so. We are working on creating a video studio at RASM South, which should be available in the second quarter of this year. Our members will have the use of this studio to help you create professional videos.

“We have so much going on at RASM to help you grow your business and be more professional.” Set aside the date of September 23, 2020 for the RASM Annual Conference & Expo with multiple tracks of learning, like legal, global, technology, sales, and more. We also just formed a new committee called Emerging Technologies, which has a focus of finding the newest technologies that affect agents, brokerages, property management, and the Association. We are excited to be finalizing our plans for our new RASM facility in Bradenton, more on this to come soon. We have so much going on at RASM to help you grow your business and be more professional. Make sure that you are reading your weekly email (comes to you every Monday) called RASM UP so that you can take advantage of all the great programs and events offered to you by YOUR Association! And one final thing, NAR has created a new online program to help educate you and build professionalism called C2EX. Please check it out at www.c2ex.realtor. One of our Association goals for 2020 is to have 5 percent of our members C2EX endorsed, so get started on it today and help us hit our goal! Make it a great day and year! Because Together We Win! •

myRASM.com | 5

COVER STORY

Navigating the Unknown in Real Estate

he busy spring home buying season has TIPS FOR REALTORS® suddenly morphed into a peculiar season of So, what does this mean for Realtors®? For starters, uncertainty in just a few short weeks. COVID-19, it’s important to recognize that this situation is very commonly known as coronavirus, has sent us all fluid. Advice and facts that are printed today can on a roller-coaster ride as we watch the daily changes easily change tomorrow. However, the advice of the in the world around us from dealing with a lack of day is to utilize common sense, avoid scare tactics, basic household conveniences, to the cancellation of and lean more heavily on virtual technology. Virtual schools and events. But tours, 3D videos, and what does all this mean video conferencing are to our local real estate “Realtors® should take this opportunity to great tools to utilize community? It means in talk with their sphere,” said Alex Krumm, right now. There are part, that now more than many apps such as ever, we stand together, Broker with NextHome Excellence. “Call WhatsApp, Google we work together, and on your database, your network, and Hangouts, and others we continue business as that agents can use. check up on people.” usual as professional real In addition, closing estate agents. documents can often be transmitted electronically, utilizing digital WHAT’S GOING ON? signatures. It’s time to be creative and rely upon other It’s impossible to turn on the TV and not strategies that we have available to us versus face immediately receive an update on the coronavirus. And to face interaction. And of course, just picking up yes, it’s a little unnerving to absorb all the craziness the phone is a great way to check up on clients and surrounding this pandemic, especially as we practice communicating any new office procedures. our new normal of “social distancing.” Because the “Realtors® should take this opportunity to talk virus is thought to spread mainly from person-to-person with their sphere,” said Alex Krumm, Broker with and the best way to prevent illness is to avoid being NextHome Excellence. “Call on your database, your exposed to this virus. network, and check up on people. Pick up the phone The CDC urges citizens to monitor your health and see what they’re up to and ask how you can help. and practice social distancing. Social distancing Don’t just post about it on Facebook - make calls, get in means staying out of crowded places, avoiding group touch, and contribute to their well-being. Bring people gatherings, and maintaining distance (approximately 6 paper towels or other supplies if you have them and feet) from others when possible. stay positive. Ours is a business built on relationships

6 | ELEVATE [ APRIL 2020 ]

and now is the time to build up one another.” “In addition, the coronavirus is by no means a sales tactic,” added Krumm, “This is the current environment that we are navigating, and times are uncertain, but be cautious not to inadvertently exploit the situation. We need to support our clients and not poke fun of the virus.”

MORTGAGE RATES AND THE STOCK MARKET Even during times of economic uncertainty, transactions still occur, the need for real estate exists, and there are great opportunities on the market. And now due to the flux in the market, mortgage rates are at very low levels. According to mortgage finance provider Freddie Mac, the current 30-year fixed-rate mortgage (as of March 18) is 3.9 percent.1 Since fixedrate mortgages are the most common type of mortgage selected by homeowners today, it’s a great time to buy or refinance so your client can lock in a low rate for the life of the loan. Of course, these rates will continue to fluctuate with the ebb and flow of the current market. “This is truly a historic opportunity to buy real estate at record low rates,” said Robert Milligan, President of Preferred Shore. “I would encourage anyone to get into the market or refinance if applicable to position optimally for the future. It’s impossible to forecast with certainty how this situation will affect real estate, but usually in these times people turn to safer, income producing and often tangible assets such as real estate, there are great opportunities available,” added Milligan. “Stock market ups and downs are actually really good for real estate because people will shift their funds from there to more stable investments such as real estate,” said Krumm. “In addition, if a seller was on the fence about when or if to sell, this might be the catalyst. It’s a fantastic time to take advantage of low interest rates, and life goes on. So, touch base with all your clients and pay attention.”

CORONAVIRUS AND THE REAL ESTATE INDUSTRY – NAR’S REACTION These are strange times we’re dealing with and as expected, Realtors® have questions. The National Association of REALTORS® (NAR), has created a statement entitled Coronavirus: A Guide for Realtors®. The statement outlines a few practical guidelines that we can all benefit from: According to the NAR statement, when an infectious disease, such as coronavirus, is associated with a specific population or nationality, fear may lead to social stigma and potential discrimination.2 In April, we observe National Fair Housing month. This is a time where we remember that Realtors® in particular must be mindful of their obligations under

the Fair Housing Act. Realtors® are not to discriminate against any particular segment of the population, for any reason. While the coronavirus outbreak began in Wuhan, China, that does not provide a basis for treating Chinese persons or persons of Asian descent differently. The same is true for anyone who has recently traveled from an area known to be a particular hot spot for the virus.3 In addition, it’s important to remember that the Realtor® Code of Ethics applies 100 percent of the time, regardless of a pandemic, Realtors® are to conduct themselves professionally. When life goes back to normal, you will be remembered for your actions, good or bad. MAY I ASK CLIENTS OR OTHERS I INTERACT WITH IN MY REAL ESTATE BUSINESS IF THEY HAVE TRAVELED RECENTLY, OR HAVE ANY SIGNS OF RESPIRATORY ILLNESS?

NAR states that yes, you may ask clients or others about their recent travel, particularly to areas identified as having an increased risk of coronavirus. However, to avoid potential fair housing issues, be sure to ask all clients the same screening questions based on current, factual information from public health authorities. I TYPICALLY DRIVE MY CLIENTS TO SHOWINGS. MAY I REFUSE TO DRIVE POTENTIAL CLIENTS TO SEE HOMES?

Yes. However, be sure that any change to your business practices is applied equally to all clients. You may refuse to drive clients who show signs of illness or reveal recent travel to areas of increased risk of coronavirus, or you may instead decide to stop driving clients in your car altogether, and simply arrange to meet clients at a property. If you do continue to drive clients in your car, it is a good idea to frequently clean and disinfect surfaces like door handles and seat belt latches, and to ask clients to use hand sanitizer when getting in and out of the car. [ Continued on page 8 ] myRASM.com | 7

COVER STORY CONTINUED WHAT PRECAUTIONS SHOULD BROKERS CONSIDER TAKING IN THEIR OFFICES?

Brokers should use their best judgment when formulating a plan. In addition to performing regular environmental cleaning with special attention paid to frequently touched surfaces, brokers should implement a mandatory “stay-home” policy for any staff member or agent exhibiting any sign of illness. Brokers may want to consider imposing a mandatory or maximum flexibility remote work policy for employees and instructing agents to stay out of the office. In addition, in the wake of the CDC’s recent guidance recommending that in-person events consisting of 10 or more people be canceled or postponed, brokers should take measures to hold virtual meetings when possible, and potentially postpone or cancel in-person meetings or events to take to limit close contact between individuals.

EXPERT TIPS DURING DOWN TIME:

“FIND THE GRIND” AND CREATE NEVER-ENDING BUSINESS By Alex Krumm, Broker with NextHome Excellence 1|

Identify four touch points for each lead on your list, preferably quarterly – and put them on your calendar. Remember birthdays and home-iversaries. Consider writing out birthday cards for the entire year so they’re ready to send, or set aside 30 minutes weekly to call everybody who has a birthday. Your call doesn’t have to be on their actual birthday – it’s good to be the first to call! 2|

WHAT’S NEXT? There is never a crystal ball to show us what tomorrow will bring, but a good Realtor® will always be there for their client and provide the very best services, in both solid and uncertain times. RASM recommends monitoring updates from the CDC, as well as your state and local health authorities for additional information and guidance on holding meetings or events. For more detailed information from NAR, visit www.nar.realtor/coronavirus-a-guide-forrealtors. “There are two ways to view the present uncertainty about the future as it relates to financial markets and real estate,” said Robert Milligan, President of Preferred Shore. “One is that ‘this is the end of the world as we know it’ - not very likely and nothing much we can do about it if that were the case anyway. Two, and infinitely more likely, is ‘a long-term bet on the future of America’, and humanity in general is a good and safe bet. Florida more specifically is well positioned to grow and benefit economically in the years ahead. Instead of shopping for toilet paper, people would be much better served to recognize that this is an extraordinary time to buy quality assets while they are on sale and hold for the long term.” “This certainly isn’t the first time that Realtors® have dealt with an uncertain and hesitant economic environment,” added Krumm. “We got through the economic bust and came out on top. We’ve thrived through hurricane season after hurricane season. We dealt with two years of red tide flareup and we’re still having a record-breaking spring. We will come out of this on the other side stronger than we went in.”

SOURCES: 1 | www.floridarealtors.org/news-media/news-articles/2020/03/

prediction-spring-buying-season-will-be-super-competitive 2 | www.nar.realtor/coronavirus-a-guide-for-realtors 3 | www.nar.realtor/coronavirus-a-guide-for-realtors

8 | ELEVATE [ APRIL 2020 ]

Build Out A Top 200 list of your personal sphere of influence. These are the people most likely to use or recommend when it’s time to transact real estate; if you regularly follow up with the people on this list then it’s impossible to not make a living in any market.

Start a periodic newsletter. Incorporate video, print, social media – it doesn’t matter what as long as your message gets seen by as many people as possible. Set aside one full day per quarter to call your sphere. Simply call each person in your sphere and say ‘hey, what’s happening in your life right now?’ They’ll love you forever for it. 4|

Create your full-fledged business plan. No business ever has made it through a downturn without a solid business plan. Identify the kinds of business you want to attract, how you plan to attract it, how much you’re willing to spend to get it, how much money you’ll make if you’re successful, and then – most importantly – PUT THE PLAN ON YOUR CALENDAR IN ORDER TO EXECUTE ON IT. Get a new designation. Online learning is a great way to spend downtime working on your business. NAR offers a great list of classes you can take on your own schedule here: www.nar.realtor/education/ designations-and-certifications. 6|

Create your value proposition. What do you bring to the table? Identify what’s important to you and explain it in two sentences or less. Figure out what you’re really good at and advertise it. Admit the areas where you can use improvement and work on them. Target likely sellers with online tools. Systems like Homesnap and SmartZip identify likely sellers using big data and give you their contact information – for a price. 8|

BUSINESS PARTNER SPOTLIGHT

College HUNKS Hauling Junk & Moving® By: Justin Johnson, Director of Brand Exposure

ustin Johnson is a Sarasota native who started with College HUNKS in 2016 as a wingman working on the trucks doing move and junk removal jobs. College HUNKS Hauling Junk & Moving® is a local moving company in Sarasota that specializes in full-service moving solutions. From packing and unpacking to loading and storage container clean-outs, their friendly movers are trained, licensed, and insured to provide a trustworthy experience.

In 2017, Justin was granted the opportunity to become a Move Consultant, going on-site to homes and businesses to educate clients on how to be “move ready.” Along with becoming a Move Consultant in 2018, Justin stepped into his current role as Director of Brand Exposure. A few of Justin’s many accomplishments include:

Helped facilitate 200% sales growth for the company from 2017-2018. Expanded the company’s development to help win the Fastest Growing College Hunks Franchise Award (out of 130) for 2018 by establishing a presence in the area and creating new clients. National Hunk of the Year Nominee 2019. To learn more, visit www.collegehunks.com. •

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PROFESSIONAL STANDARDS

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copying, as opposed to simply providing a link) without authority. In their findings of fact, the Hearing Panel also noted that even if Realtor® B’s clients might not object to such advertising, the lack of objection could not be assumed and would not relieve Realtor® A of the obligation to obtain Realtor® B’s specific authority and consent to advertise her listings. The Hearing Panel found Realtor® A in violation of Article 12 of the Code of Ethics.

n developing his website, Realtor® A decided he would offer two pages of listings: his own and some featured listings of his competitors. Being careful not to present a misleading picture in his advertising, he was very careful to list the company name and phone number of the listing company with each of his competitors’ listings. When Realtor® B found one of her listings on Realtor® A’s website, she filed an ethics complaint with the local Association of Realtors® complaining that Realtor® A had “blatantly and without authorization of any kind whatsoever advertised my listing on his website and in so doing was clearly in violation of Article 12 of the Code of Ethics as interpreted by Standard of Practice 12-4.” At their next meeting, the Grievance Committee decided that the alleged conduct, if taken at face value, could possibly violate Article 12 and directed the Association’s Professional Standards Administrator to schedule an ethics hearing before a Hearing Panel of the Association’s Professional Standards Committee. At the hearing, Realtor® B produced a printed copy of her listing which was on Realtor® A’s website. She produced a copy of her listing agreement and a photograph of the property, which matched the information in the listing. She testified that she had never been contacted by Realtor® A for permission to advertise her listing. When Realtor® A presented his case, he showed the hearing panel several examples of Realtors® providing links to sites with ads for other Realtors®’ listings. He said he saw no fundamental difference between providing such links and actually advertising other listings on his website, especially when he was very careful to also give the listing company’s name and phone number. He went on to argue that Realtor® B’s clients would be hard pressed to understand Realtor® B’s objection to giving their properties the additional exposure they received on Realtor® A’s website. Upon the conclusion of all testimony and closing statements, the Hearing Panel met in executive session and decided that while providing a link to listings of other Realtors® did not violate Article 12, by actually publishing Realtor® B’s listing on his website Realtor® A was not linking, but instead was advertising (by

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RASM NEWS YOU CAN USECOUNCIL PROPERTY MANAGEMENT

Vacation Rentals as an Asset Class By: Liz Berry, Associate Advisor, SVN | Commercial Advisory Group

ourism is one of the most important industries in Florida bringing in billions of dollars a year to the state of Florida. One of the largest divisions of the travel industry in our state is accommodations with short-term/vacation rentals alone, making a $27 billion-dollar impact. This impact has to lead to these rentals becoming a rapidly growing separate investment asset class for both private and commercial investors.

RENTAL MARKET AND OTAS This rapid expansion of short-term rentals as an asset class is the result of a technological disruption brought on by the digital world that merged hospitality and real estate through the creation of online travel agencies (OTAs) in the early 2000s. Vacation rentals have gone from mom and pop to a worldwide corporate-dominated field based on their opportunity for growth with key players including well-known brands such as Marriott and Wyndham purchasing properties.

12 | ELEVATE [ APRIL 2020 ]

These OTAs such as Airbnb cleared the way starting with individual owners and leading to large scale real estate investment trusts and other capital institutions to seek them for an investment opportunity. These opportunities range from basic ownership to large-scale property management. The field of property management is of great importance to short-term/vacation rentals. As the market continues to grow, so will the need for the oversight of their daily operations including reservations, maintenance, and guest service. Many of the early mom and pop owners expanded to owning multiple properties and became managers of other properties which led to them being bought out by larger companies which led to large corporations getting involved. Airbnb itself has become a property manager through its construction of short-term rental units they host and oversee the day-to-day running of in many of their large tourist markets.

SHORT-TERM RENTALS Short-term rentals provide a stable real estate investment with a consistent healthy return through multiple facets providing revenue. Their growth is going to continue as the multi-family market stabilizes and investors seek a dependable profit on their investments. During economic downturns and recessions, the rental market is poised for positive expansion leading to a profitable bottom line when other investment products struggle to maintain even close to a steady grasp on their earnings. The greatest challenge to the expansion of the vacation rental market is legislation actively being created to control and limit their growth, push back to ensure that appropriate collection of taxes is taking place, and the impact on communities losing longterm residents. Overall, vacation rentals are a win for clients as an asset or investment class as they offer many reasons for satisfaction from the accumulation of funds. â&#x20AC;˘

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REALTOR® ATTORNEY JOINT COMMITTEE

The Ins and Outs of Escrow Deposits By: Mallory Moretti, Esq., Berlin Patten Ebling, PLLC.

hether using the Residential Contract for Sale and Purchase (the “Standard Contract”) or the “AS-IS” Residential Contract for Sale and Purchase (the “ASIS Contract”), both Contracts allow an initial deposit to be held in escrow (the “Escrow Deposit”). The Escrow Deposit is made payable and delivered to the Escrow Agent. Both contracts allow for the selection between whether the Escrow Deposit accompanies the offer, or is to be made within a certain number of days after the Effective Date, if blank three (3) days, which is most commonly seen.

STANDARD AND AS-IS CONTRACTS Section 2(a) of the Standard and AS-IS Contract pertains to the deposit and Escrow Agent. The Escrow Agent section must always be completed. If the Escrow Agent is a title company or an attorney, the Escrow Agent’s name, address, and telephone number must be included pursuant to Rule 61J2-14.008 of the Florida Administrative Code. “TBD” should never be used in this section. If the seller has a preference for a different Escrow Agent, seller could counter buyer’s offer and change the Escrow Agent information. What happens if the buyer does not make the deposit timely under the contract? It is important to mention that time is of the essence under the Standard and AS-IS Contract. Section 15 of the contract states that if buyer fails to make payment of the deposit, within the time specified, Seller may elect to recover and retain the deposit(s). But what if the buyer made the initial deposit and just forgot to make the additional deposit? Is the seller entitled to recover the entire deposit or just the initial deposit? Per the contract, deposit is defined as all deposits paid or agreed to be paid. Therefore, the seller may elect to recover the initial deposit and the additional deposit to be paid. Calendaring deadlines is crucial!

14 | ELEVATE [ APRIL 2020 ]

A SMOOTH CLOSING It is the closing agent’s responsibility to ensure a smooth and timely closing. Inevitably, there might be a transaction where a list minute glitch pops up such as: broken window at a walk-through, roof tiles cannot be repaired in time for Closing, etc. When a last minute issue arises and the parties do not want to extend Closing nor are they agreeable to a credit, a postclosing escrow agreement is an option. There are many questions that need to be posed prior to agreeing to a post-closing escrow. A few are as follows: is financing involved? Are there repair estimates in place? How will the escrow be released? How difficult is the issue to resolve? This article is meant as a guide for educational purposes only. It is not intended to serve as legal advise and should not be used as a substitute for consultation with an attorney.

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GOVERNMENT AFFAIRS

Busy Season Ahead in Government Affairs By: Max Brandow, RASM Government Affairs Director

s we get further into 2020, RASM is gearing up for a very busy election cycle. RASM’s Political Action Advisory Committee is preparing for a robust and exciting screening and endorsement season. It’s important to remind our members of the work your fellow RASM members put into vetting and recommending endorsements for all our potential endorsed political candidates. Realtor® Associations throughout the country are on the frontlines of advocacy for Realtor® and industry issues and because of that we stick to Realtor® issues when screening political candidates. We are very singularly focused during this process and, although we may not always agree on political issues, I hope we can all agree that fighting for Realtor® issues is RASM’s #1 priority. Look forward to RASM rolling out endorsements this summer and into the fall.

REMINDER: REGISTER TO VOTE! Realtors® vote in higher numbers than most any group in America, but we can always do better! One of the reasons the REALTOR® Association is such an effective advocacy organization is because elected

officials know our members go to the polls. This is just a friendly reminder to not stay on the sidelines this elections season. If you’re not registered, unsure if you’re registered, or just want more information head over to registertovoteflorida.gov.

FLORIDA REALTORS® WATERWAY CLEANUP Take part and join thousands of fellow Realtors® to help clean up our Florida waterways this July 11th. A large reason why tourists and future residents are drawn to Florida is because of our outdoor environments, from white sandy beaches, lakes for fishing and boating, rivers for kayaking and our natural springs. Yet, many of those same waterways are littered with waste. On July 11, Florida REALTORS® will be working to solve that problem!

HOW TO GET INVOLVED: Contact your District Vice-President (Stafford Starcher) and RASM for details on our cleanup effort. You all are the heart of this clean-up program.

16 | ELEVATE [ APRIL 2020 ]

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MARKET ANALYSIS

2020 Housing Market Starts Strong; Bracing for Change in March By: Gina White, Communications and Marketing Director

n Sarasota and Manatee counties, the February housing market reports more closed sales and an overall rise in dollar volume. According to monthly reports from Florida Realtors®, median prices increased while inventory declined in both counties. Closed sales in Sarasota and Manatee totaled 1,710 in February 2020, a 13.7 percent increase from the same time last year. Condo sales increased by 35.7 percent to 376 sales in Sarasota and by 40.1 percent to 241 in Manatee. In Sarasota, single-family sales increased by 4.2 percent to 618 sales and Manatee increased by 2.8 percent to 475 sales. “The month of February continues in January’s footsteps, showing a continued strong real estate market in Sarasota and Manatee counties,” said David Clapp, 2020 President of the Realtor® Association of Sarasota and Manatee. “The year-over-year numbers went up for closed sales, median sales price, and the dollar volume of sales. What continues to go down is the length of time it takes for a listed property to go under contract, especially as inventory declines.” For the third month in a row, cash sales increased year-over-year in both counties. Single-family cash sales in Manatee increased by 22.4 percent and showed no change for Sarasota. Condo cash sales increased by 25.6 percent in Sarasota and increased by 15.7 percent in Manatee. Pending sales increased in both markets in both counties. Combined, single-family pending sales increased by 16.1 percent and condo pending sales increased 26.4 percent in the two counties. “We are pleased with the great sales numbers in January and February, as there is a feeling that they may be tempered a bit in March due to the coronavirus and the shift of peoples focus onto the health, safety and welfare of their families,” added Clapp. “It’s hard to say whether the rise in pending sales will translate into future closed sales as we face uncertainties in March and possibly the next few months.” Median prices continue to rise in both counties in both markets. Single-family home prices increased by

8.9 percent to $325,000 in Manatee. Sarasota singlefamily prices increased by 5.9 percent to $304,000. Condo prices increased by 11.1 percent to $210,000 in Manatee and increased by 7.4 percent to $260,000 in Sarasota. The number of properties added to the market in February increased in both counties. Condo new listings increased by 1.1 percent in Manatee and by 0.2 percent in Sarasota. Single-family new listings increased by 1.7 percent in Manatee and increased by 0.5 percent in Sarasota. Combined inventory in both counties decreased by 21.4 percent from February of 2019. Single-family home inventory decreased by 19.2 percent in Manatee and by 25.5 percent in Sarasota. Condo inventory in Manatee decreased by 6.4 percent while Sarasota decreased by 25 percent. “The amount of active inventory continues to drop by double-digit percentages,” said Clapp. “This has led to the months’ supply of properties for sale to drop to around 3.5-months for single-family homes and 4.5-months for condos. A balanced market would be considered 6 months of supply.” Sarasota condo inventory declined to 4.5-months’ supply and Manatee condos decreased to a 4.5-month supply. Sarasota single-family homes decreased to 3.6-months’ supply and Manatee fell to 3.4-months. Monthly reports are provided by Florida REALTORS® with data compiled from Stellar MLS. For comprehensive statistics dating back to 2005, visit www.MyRASM.com/statistics. • myRASM.com | 19

Monthly Market Summary - February 2020 Single Family Homes Sarasota County February 2020

February 2019

Percent Change Year-over-Year

618

593

4.2%

237

0.0%

Median Sale Price

$304,000

$287,000

5.9%

Average Sale Price

$420,802

$397,980

5.7%

$260.1 Million

$236.0 Million

10.2%

96.3%

94.9%

1.5%

Median Time to Contract

37 Days

60 Days

-38.3%

Median Time to Sale

82 Days

101 Days

-18.8%

New Pending Sales

922

794

16.1%

New Listings

974

969

0.5%

Pending Inventory

1,271

1,086

17.0%

Inventory (Active Listings)

2,667

3,581

-25.5%

Months Supply of Inventory

3.6

5.4

-33.3%

Closed Sales Paid in Cash

Dollar Volume Med. Pct. of Orig. List Price Received

1,200

2016

2017

2018

2019

Closed Sales

1,000 800 600 400 200 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

Median Sale Price

$350K $300K $250K $200K $150K

$100K $50K $0K

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

4,000

Inventory

3,500 3,000 2,500 2,000 1,500 1,000 500 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

2016

2017

2018

2019

20 |byELEVATE [ APRIL 2020 ] Produced Florida REALTORSÂŽ with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Friday, March 20, 2020. Next data release is Tuesday, April 21, 2020.

Monthly Market Summary - February 2020 Single Family Homes Manatee County February 2020

February 2019

Percent Change Year-over-Year

475

462

2.8%

153

125

22.4%

Median Sale Price

$325,000

$298,500

8.9%

Average Sale Price

$407,940

$389,119

4.8%

$193.8 Million

$179.8 Million

7.8%

96.2%

95.9%

0.3%

Median Time to Contract

47 Days

49 Days

-4.1%

Median Time to Sale

90 Days

97 Days

-7.2%

New Pending Sales

699

602

16.1%

New Listings

730

718

1.7%

Pending Inventory

968

862

12.3%

Inventory (Active Listings)

1,934

2,393

-19.2%

Months Supply of Inventory

3.4

4.5

-24.4%

Closed Sales Paid in Cash

Dollar Volume

Median Sale Price

Closed Sales

Med. Pct. of Orig. List Price Received

800 700 600 500 400 300 200 100 0 $400K $350K $300K $250K $200K $150K $100K $50K $0K

2016

2017

2018

2019

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

Inventory

3,000 2,500 2,000 1,500 1,000 500 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

2016

2017

2018

2019

myRASM.com | 21

Produced by Florida REALTORSÂŽ with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Friday, March 20, 2020. Next data release is Tuesday, April 21, 2020.

Monthly Market Summary - February 2020 Townhouses and Condos Sarasota County February 2020

February 2019

Percent Change Year-over-Year

376

277

35.7%

221

176

25.6%

Median Sale Price

$260,000

$242,000

7.4%

Average Sale Price

$433,473

$373,070

16.2%

$163.0 Million

$103.3 Million

57.7%

96.1%

93.8%

2.5%

Median Time to Contract

46 Days

75 Days

-38.7%

Median Time to Sale

91 Days

107 Days

-15.0%

New Pending Sales

524

394

33.0%

New Listings

539

538

0.2%

Pending Inventory

829

642

29.1%

Inventory (Active Listings)

1,626

2,168

-25.0%

Months Supply of Inventory

4.5

6.5

-30.8%

Closed Sales Paid in Cash

Dollar Volume Med. Pct. of Orig. List Price Received

600

2016

2017

2018

2019

Closed Sales

500 400 300 200 100 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

Median Sale Price

$300K $250K $200K $150K $100K $50K $0K

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

Inventory

2,500 2,000 1,500 1,000

500 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

2016

22 | ELEVATE [ APRIL 2020 ]

2017

2018

2019

Monthly Market Summary - February 2020 Townhouses and Condos Manatee County February 2020

February 2019

Percent Change Year-over-Year

241

172

40.1%

133

115

15.7%

Median Sale Price

$210,000

$189,000

11.1%

Average Sale Price

$245,303

$227,849

7.7%

$59.1 Million

$39.2 Million

50.8%

95.6%

94.0%

1.7%

Median Time to Contract

39 Days

68 Days

-42.6%

Median Time to Sale

84 Days

101 Days

-16.8%

New Pending Sales

319

273

16.8%

New Listings

357

353

1.1%

Pending Inventory

393

357

10.1%

Inventory (Active Listings)

1,053

1,125

-6.4%

Months Supply of Inventory

4.5

5.0

-10.0%

Closed Sales Paid in Cash

Dollar Volume Med. Pct. of Orig. List Price Received

350

2016

2017

2018

2019

Closed Sales

300 250 200 150 100 50 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

Median Sale Price

$250K $200K $150K $100K

$50K $0K

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

Inventory

1,200 1,000 800 600 400 200 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

2016

2017

2018

2019

myRASM.com | 23

COMMERCIAL REAL ESTATE ALLIANCE

Demographic Shifts By: Liz Berry, Associate Advisor, SVN | Commercial Advisory Group

elcome to 2030; millennials are reaching age 50 and most boomers have hit retirement. Wait a second, itâ&#x20AC;&#x2122;s only the fourth month of 2020. But 2030 is only ten years away and the sweeping demographic shifts taking place over the next ten years will be impressive. The world is continuing to evolve. Self-driving cars, automated houses, and smart technology are already folding into our everyday lives. By 2030, they will be commonplace and it will seem antiquated if someone does not have them much like those who still have a flip phone today. Real estate is going to be greatly affected by these seismic demographic shifts taking place over the next ten years. The way real estate is bought, sold and consumed over the next ten years will continue to change dramatically from the way it was twenty years ago at the start of this millennium. The integration of digital marketing and e-commerce of properties is here to stay along with the use of artificial intelligence (AI) to complete transactions. The top three generations: baby boomers, millennials and the upcoming generation Z all have their own preferred ways of doing business.

currently a resurgence in the need for travel agents, the need for real estate agents will never go away. People need assistance navigating the market. Faceto-face business may be done over a computer screen but humans need interaction in order to succeed. Residential real estate has been adapting to these digital changes for some time now and commercial real estate is next. Technological disruption is now going to have the greatest impact on the commercial world over the next ten years.

HUMAN CONNECTIONS ARE STILL VITAL

APPEALING TO ALL DEMOGRAPHICS

While an online presence is key, the importance of omni-channel marketing including person to person relationships cannot be forgotten. Just like there is

The emergence of more mixed-use development projects will provide a competitive edge for business owners by enabling them to reach all demographics at the same time. Boomers are tactile, they browse in-store then buy online. Millennials are tangible, they want everything online and they will go to a store to preview. Generation Z wants a sustainable experience that involves a personal relationship. The key to survival over the next ten years is appealing to all demographics, staying at the forefront in the use of technology and embracing change towards a new way of doing business for better or worse. Focusing on product types that include multiple commercial sectors converged will enable you to reach everyone. â&#x20AC;˘

MIXED USE DEVELOPMENT Commercial markets are going to see great changes due to these varying digital factors and influences. Convergence and overlap between the established sectors are going to cause dividing lines to blur. Mixeduse development is going to be at the forefront over the next ten years with the emergence of integrated factory showrooms, online catalog displays and experiential retail including dining. Office, retail, multi-family and light industrial will be blends of one in the same. You will not have an office park without housing, shops, restaurants, and warehouse storage facilities. You will have living communities for various ages that include shops, restaurants and a wide array of amenities. Modular construction will likely become the norm for affordable workforce housing. The merging of various commercial product types will shine through most in large scale multi-use commercial projects.

SOURCE: 1 | Demographic Shifts: the World in 2030. Cushman & Wakefield.

24 | ELEVATE [ APRIL 2020 ]

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Broker Participation is welcomed and encouraged. ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE SELLER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A SELLER TO A BUYER OR LESSEE. This project has been filed in the state of Florida and no other state. This is not an offer to sell or solicitation of offers to buy the condominium units in states where such offer or solicitation cannot be made. Prices, availability, artist’s renderings, dimensions, specifications, and features are subject to change at any time without notice.

NEWS YOU CAN USE

RASM Recognizes Monica Waterman as ‘Humanitarian’ in Quarter 1 Humanitarian of the Quarter (Q1): Monica Waterman, Realtor®, Allison James Estates & Homes

he National Association of REALTORS® (NAR) Good Neighbor Awards recognize Realtors® who make extraordinary commitments to improving the quality of life in their communities. Following this same blueprint, RASM has established our own Humanitarian Award to be bestowed quarterly. RASM’s goal is to recognize the Realtors® who are doing great things in our community. We want to show our members and the two-county area that Realtors® make up a large part of our community’s success. The RASM Community Outreach Committee has proudly recognized Monica Waterman, Realtor® with Allison James Estates & Homes, as the “Humanitarian of the Quarter” recipient for the First Quarter of 2020. Monica Waterman has lived and worked in the Sarasota area for nearly 27 years, both in developer sales and general residential sales. She is passionate about giving back to her community, and she consistently shares 10 percent of her real estate income with local charities, which she believes helps her clients have a special connection to the community. One local charity, in particular, is very near and dear to her heart: Project 180. Project 180 is a reentry program for formerly incarcerated citizens who are non-violent offenders. Over 30,000 Florida prisoners are released annually and reenter our communities. Many wish to become lawabiding citizens and have the best intention of living a conventional life yet have very few job skills, lack formal education, and experience discrimination in housing and job markets because of their felony records. Waterman is very involved with Project 180, having just finished a 2-year term on their board of directors. “As a board member, I could see first-hand how someone’s life could be turned around for the better with just a little assistance. We all read the statistics, but when you physically see it with your own eyes, it has a whole different effect.” “These individuals have no tools to integrate into society,” said Waterman. “Have you ever looked at a lease application? One of the first questions is ‘Have you ever been convicted of a felony?’, and the moment they answer truthfully, that’s it – the application is thrown in the trash. They can’t find a decent place to live or get a job. If they own a vehicle but have outstanding tickets that they can’t afford to pay, it prevents them from reactivating their driver’s license. The deck is stacked against them.” 26 | ELEVATE [ APRIL 2020 ]

As a result, these former inmates become homeless, unemployed, and impoverished. They are unable to make it in the conventional world. Upwards to 70 percent will re-offend within 90 days out of necessity alone, and within five years, another 76 percent are rearrested for a new crime. This contributes to victimization and puts a drain on community resources. “What will happen is a person is actually in a situation where they have very little choice but to re-offend. It’s a matter of survival,” added Waterman. “It creates a cycle of desperate need, depression, and rejection. It is so hard to get on the right side of our society once you’ve been on the wrong side.” Project 180 seeks to break this cycle by providing workforce education, housing, transportation, and financial assistance. They also have classes for inmates, an annual reentry lecture series for the general public, information and referrals for felons seeking housing, programs, employment, and a comprehensive, wholelife Residential Program for men in recovery. Project 180 seeks to build community, not prisons. The charity also offers educational lecture series for the public called “Strong Voices / Strong Subjects,” that explores the impact of prisoner reentry into the community and through education helps to reform the “not in my back yard” mentality that often labels former inmates. One of their most successful programs, the CEO Workforce Education Program, brings participating CEOs, hiring managers, and workforce agency specialists into the prisons to teach soon-to-be-released inmates how to find, apply for, interview for, and retain a position in each CEO’s industry. “The CEO program provides a soon-to-be-released inmate with hope,” said Waterman. “They can receive decent employment in a positive environment, without being reminded of what they’ve done. They receive motivation and want to change their life around. We’ve all made mistakes. Who wants to be constantly reminded of those mistakes for the rest of their lives?” In addition to her work in the community with Project 180, Monica Waterman enjoys donating her time and money to other local charities. Charities that are important to her include Vintage Paws, a resort for senior, ailing dogs who have been abandoned, and also Mote Marine Aquarium. Through her “Heart of the Home” program, she donates 10 percent of her income as a Realtor® to the charity of her client’s choice. “My customers can pick their own charity, or I will. It provides a great opportunity to connect the customer with their new home, give back, and involve them in their community in the most positive way.” To learn more about the many worthy programs at Project 180, visit www.project180reentry.org. To nominate someone for the RASM Humanitarian Award, visit myrasm.com/rasmgivesback. •

GLOBAL BUSINESS COUNCIL

Get Involved and Travel with the GBC By: Glo Reber, Realtor®, Sotheby’s International Realty

he RASM Global Business Council has a full year of exciting activities planned! So many new opportunities for our members. Our membership is up to 237 and growing! Global Business Council members were invited to get together for the Greek Glendi festival to meet as a group and enjoy the entertainment. A Canadian workshop was hosted at RASM with the Canadian Real Estate Association. It was a full presentation of financial and currency information, legal information and the benefits of joining the Canadian Real Estate Association (CREA). February 12 was a special time as the inbound trade mission of SIRA, the Spanish International Realty Alliance, joined Realtors® from RASM, Pinellas County and the Greater Tampa area to exchange ideas and make connections between the two countries.

that are provided by the Global Business Council assist in making the networking an easy and fun opportunity. Join us in making your world grow!

NEW GBC MEMBERS Peter Easton, Premier Sotheby’s Robin Eekhof, Sarasota Title Services Daniel Spino, Fine Properties Gloria Waters, Berkshire Hathaway HomeServices Florida Realty Tom Waters, Berkshire Hathaway HomeServices Florida Realty

TRAVEL WITH THE GBC We are hopeful that some of our regularly scheduled programming will continue to stay on course for us this year, including our outbound trade missions. There is an exciting trade mission going to Belize in June from the 19th through the 21st. That will be a great opportunity to connect with like-minded agents to exchange ideas. The trade mission will learn about investing, living or retiring in Belize. It will provide a fabulous venue to meet potential business partners. All that plus time to enjoy the pleasures of the beautiful country. In August there will be another trade mission going back to Cartagena, Colombia, for another exciting opportunity to attend their Fedelonjas Congreso. The Fedelonjas is their equivalent of the National Association of REALTORS®. It is a unique time for outreach among International Realtor® members in Colombia to work as a united group. The Global Business Council is an excellent opportunity for Realtors® to participate at a cost of only $25 per year. That allows you to attend most of the seminars at no cost. Members have an opportunity to network with other Realtors®, expand potential networks of overseas agents and make connections with potential clients from abroad. The learning skills

Bob

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Robert Burbeck, Owner 1342 N. Lime Ave., Sarasota, FL 34237 (941) 953-3773 • (941) 713-4348 www.sarasotalockandkey.com Bonded and Insured Safes • Locks • Keys • High-security Locks • Multi-lock • Medeco Largest selection of Key Blanks in Area Chamber Member since 1964 Associated Locksmiths of America Safe & Vault Techncians Association

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YOUNG PROFESSIONALS NETWORK

Springtime: The Season of Renewal By: Hannah Veitkus, Realtor® Wagner Realty

t’s finally April and for most of Sarasota and Manatee county “season” is starting to wrap up. By April 12 (Easter Sunday) the majority of our part-time residents and visitors will be returning to their homes up north until November. Realtors® and Business Partners know that from December to March/ April is our busiest times of year and sometimes we’re all running on 100 mph. Homes are popping up on the market, people are buying like crazy and this year we have the coronavirus (COVID-19) causing the stocks to fluctuate while mortgage interest rates hit an recent record low the first week of March!

TAKE CARE OF YOURSELF Last spring, RASM YPN had an incredible speaker at one of our Coffee Talk events, Rebekka Mars, a mind/body coach and yoga instructor. She spoke at great length about the importance of taking time for yourself each and every day, especially for Realtors® and Business Partners because of the high-intensity and stress in our jobs. Simple things such as deep breathing at your desk, or giving yourself permission to cut back

28 | ELEVATE [ APRIL 2020 ]

on the things you say yes to can give you some muchneeded strength and peace during our busiest time of year. But these kinds of things, don’t have to be done just during season, we can also make them part of our daily routines so that year-round we are renewed and taking on the world with our best self. With a bit more flexibility in our days, this is the best time to try and implement things like deep breathing, walks outside, meditation, exercise, time with family and friends, whatever it is that renews us. Often these things fall to the wayside when we are busy at work and it is important to do whatever we can to keep even the smallest “re-energizing practices” in our day-to-day plans, even during a stressful coronavirus crisis. RASM YPN is always trying to incorporate different types of events that fit almost anyone’s lifestyle and schedule. We have morning educational Coffee Talks for those who want a quiet morning outside the office and want to feed their need for knowledge. We have fun Trolley Tours for those who need a day to learn about the market away from their computer screen. We even have large charity events in the evenings for those who need something after hours, but also gives back to the community. However you choose to refresh and renew yourself this spring, make sure to integrate these changes and habits into your routine year-round! That way your clients are always receiving your best work possible! •

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RASM NEWS

Employee Anniversary

ASM happily recognizes the workplace anniversaries of our professional staff. Jessica Montague, Member Services Manager, celebrates her fifth anniversary with RASM this month. She oversees the Realtors® in regards to membership and all member services such as maintaining the membership database, processing applications, transfers and more. Jessica is also the staff liaison for the Business Partners. Jessica greatly enjoys interacting with the members and feels that every day brings something new and exciting. She also loves her RASM coworkers. Jessica enjoys to go to Universal, concerts and spending time with her two beautiful and energetic kids. •

941-556-8895 Sharonb@CoastalPrint.com

CoastalPrint.com 4391 Independence Court Sarasota, FL 34234

OWN YOUR PRESENT. EMPOWER YOUR FUTURE. You can lead the way. Commitment to Excellence empowers you to enhance and showcase your high level of professionalism. It gives you an advantage in an increasingly competitive market and shows consumers you’re committed to conducting business at the highest standard. Be committed to excellence.

Get started today at C2EX.realtor.

30 | ELEVATE [ APRIL 2020 ]

COMMITMENT TO E XC E L L E N C E

C2EX.realtor

NEIGHBORHOOD SPOTLIGHT

Waterlefe Golf & River Club By: Steve Slocum, GRI and 19+ year Waterlefe Resident

ocated along the banks of the Manatee River, Waterlefe Golf & River Club offers resortstyle living! There are many dwelling options with condos starting at 1,250 square feet to a 2,340 square foot option. Waterlefe Golf & River Club also offers maintenanceincluded Grande Villas from 1,350 to 2,600 square feet, single-family homes starting at 1,850, estates from 3,200-4,800, and riverfront options up to 9,450 square feet. Located 2.5 miles east of I-75 and just north of 64, Waterlefe provides a rather unique locale. The location allows for quick access to the main commuter roads, and a short drive to Lakewood Ranch with the New Fort Hamer Bridge, an alternative route north to Parrish, St. Pete, Tampa, and beyond. SRQ and TPA airports are close enough for short trips or that epic vacation. Waterlefe is bordered to the north by the Manatee River, inviting a lifestyle not seen in many communities nationwide. Waterlefe Golf Club offers the option of

joining the Golf Club or just enjoying the peaceful lifestyle with many green spaces for our resident wildlife guests to thrive. Bald eagles, red-shouldered hawks, sand hill cranes, roseate spoonbills, ospreys, fox and even bobcats have been seen strolling along with the nature preserve areas. Waterlefe residents enjoy a central gathering place, The River Club, that offers a restaurant, sunset lounge, meeting space, and a well-appointed fitness center with daily classes led by personal trainers, all situated along the southern shore of the River. Our very own on-site Property Management team and River Club staff are ready to meet your every need. Many social functions are enjoyed at the River Club as well, from trivia and bingo, themed parties, card games including bunco, bridge, and pinochle, plus mah-jong, and more. We just celebrated our 20th anniversary with a great party and a world-class firework show! You need to come to give Waterlefe a look with your clients. If they love a social community offering golf, boating, and a friendly Waterlefe wave, this is the place for them! Steve Slocum is an original Waterlefe resident, and has been proudly representing his neighbors for 3.5+ years. â&#x20AC;˘

myRASM.com | 31

APRIL 2020

CALENDAR OF EVENTS A t RASM, the health and safety of our Realtor® family is one of our top concerns. As the COVID-19 continues to be a growing public health concern across the country, RASM leadership would like to assure our members that we are monitoring the situation and implementing a continuity plan to ensure member safety and mitigate risk. Effective immediately, all meetings, classes, and events through April 17 are either postponed or canceled. Refunds for members and customers for meeting, class, or event postponements or cancellations shall be given. And while we hope we can continue with our regularly scheduled programming later in April, it’s too soon to confirm when our next live event will be back. Plans are in place to convert some of our classes into online opportunities. Please continue to check the RASM UP e-newsletter (sent each Monday) with new class information and for more updates from RASM regarding scheduling changes, please visit myrasm. com/coronavirus. Thank you for your patience and understanding as we figure out our new course of action during this time.

DESIGNATIONS & CERTIFICATIONS: Congratulations to our members who have recently completed a designation or certification. Accredited Buyer’s Representative (ABR®) Matthew Greiner, Exit King Realty At Home With Diversity (AHWD) Nicholas Paape, NextHome Excellence Graduate, REALTOR® Institute (GRI) Jeffrey Suhr, Fine Properties Certified Residential Specialist (CRS) Fred Gibson, RE/MAX Platinum Realty Resort & Second Home Property Specialist (RSPS) Brenda Garland, Select Properties LLC Seniors Real Estate Specialist® (SRES®) Zulay Gallagher, Wagner Realty Matthew Greiner, Exit King Realty

32 | ELEVATE [ APRIL 2020 ]

TAKE ADVANTAGE OF ONLINE OPPORTUNITIES

RASM is pleased to offer several online resources to assist your with your professional development:

National Association of REALTORS® Center for REALTOR® Development

The CE Shop Interact CE Stellar MLS Training Realtors Property Resource® Training Visit myrasm.com/online-training for more.

FINISH YOUR C2EX ENDORSEMENT If you have yet to start or complete NAR’s Commitment to Excellence program, now is a great time to get endorsed. NAR’s C2EX program sets the standard for what it means to be a professional in the real estate brokerage business. The C2EX endorsement is available only to Realtors®. It is earned through a self-directed program that enables real estate professionals to assess and build on their competency in each of the core areas. Visit c2ex.realtor to get started. •

Easy TO SELL Easy TO EARN JOIN OUR REALTOR ® REWARDS PROGRAM FOR UP TO 5% COMMISSION AND MORE Earn rising commissions for each Neal Communities home you sell.

You’re automatically registered when you sell a home by Neal Communities. Your registration resets every calendar year.

Why NEAL

Why NEW

Trusted Craftsmanship, Thoughtful Planning,

Modern Floor Plans, Energy Efficiency, Clean,

Innovative Design, Exceptional Value,

Safe Building Materials, Easier Maintenance,

and Environmental Integrity

Community Clubhouses, Pools, Parks

For over 40 years we’ve been building for the Florida Lifestyle: our best homes in Southwest Florida’s best locales. As the largest and most established family-owned builder in the area, Neal boasts an over 90% customer satisfaction rate.

NealCommunities.com/Realtors • 844.712.5053 Neal Signature Homes and Neal Communities Realtor® Reward programs are two separate programs. Sales procured with each entity are recognized only by the entity the sale is procured with. Commission: 3% payable to your office for a sale provided that you are the Procuring Cause. Commission will be paid on the base home, home site and home site premium. For completed inventory, commission will be paid on net contract price, exclusive of merchandising and furniture. Payment of Commissions: Commissions will be paid as follows: 1. In full at lot close (if a lot and home purchase) or 2. In full after home closing if an end close. ©2018 Neal Communities, Lakewood Ranch, Florida. All rights reserved. CBC1256375

Southwest Florida’s Most Experienced Home Builder For Over 40 Years

MEMBERSHIP NEWS

RASM Welcomes New Members By: Jessica Montague, Member Services Manager

NEW DESIGNATED REALTORS®

Deeana Atkinson, Coldwell Banker Sunstar Realty Angela Lewis Bailey, Monarch Property Group LLC Bradley Winston Bartlett, North River Realty Richard Eugene Bechtold, Richard Bechtold, Broker Candace Payne Cate, BeachSalesMobi LLC Ronald Comito, Ron Comito, Licensed Real Estate Broker William Joseph Paul Comtois, Realtylogic Shannon Hope Cooley, Florida SunCoast Real Estate Angela Dawson, Dawson Appraisal Services Bradford P. Monroe, Suncoast Realty Solutions, LLC Milagro D. Scardigno, Florida Gulf Coast Life Realty Thomas E. Scott, Madison Allied LLC Michael Wayne Seery, Seery Realty Inc.

NEW REALTORS®

Ryan Adamson, RE/MAX Alliance Group Trevor Levi Addison, Exit King Realty Christine L. Albright, Leslie Wells Realty, Inc. Dianna Allaman, Michael Saunders & Company Paul Bachmann, SVN Commercial Advisory Group Andrew Bakker, Michael Saunders & Company Luke Beerman, Keller Williams Classic Group Brianna Bevelock, Brince Realty LLC Terri Ellen Bricker, EXP Realty, LLC Louise Cabral, KW Suncoast Robert E. Chapman III, Tim Lester Internat’l Realty Brian K. Chapman, Premier Sothebys Intl Realty Alexandra Winsler Chau, Catalist Realty LLC Bernardita M. Chike, KW Suncoast Elizabeth A. Collins, Keller Williams Island Life Re John Cooper, Exit Sunset Realty Mary Lea Daley Marryott, Premier Sothebys Intl Realty Tammy Mary Anne Dentici, Bright Realty Glenda Dimino, Keller Williams Realty Select Christy Lenore English, LoKation Real Estate Dejana Fakhouri, Michael Saunders & Company Wayne D. Fastzkie, Michael Saunders & Company Scott Alexander Fiset, Trend Realty Jan Lee Forbes, Wagner Realty Brian Keith Gibson, Keller Williams On The Water Kimberly Glogovsky, Veterans Realty Inc. Nikki Goslin, Keller Williams On The Water Michael Griffin, Premier Sothebys Intl Realty 34 | ELEVATE [ APRIL 2020 ]

Helmer Jon Hagman, Exit King Realty Robyn A. Hawk, Duncan Real Estate, Inc. Susan Anderson Hill, KW Suncoast Paula Ann Hillard, Exit King Realty Lois Ann Huner, New Door Real Estate LLC Marc Stewart Kagan, Keller Williams On The Water Arthur William Knight, Tim Lester Internat’l Realty Keller Linne, Williams On The Water Arthur C. Mann, Charles Rutenberg Realty Inc Charles Ray McCracken, Anna Maria Island Beaches RE Megan McIntosh, Coldwell Banker Res R E Alexandra M. Miller, Coldwell Banker Residential R. Ryan Miller, Wagner Realty Geeta Moreau, Exit King Realty Evan Nicolaides, Optimus CREIA Michele Lorraine Ogle, Leslie Wells Realty, Inc. Cecilia Mary Pekar, Dalton Wade Inc. Anna Janina Perkowski, Bright Realty Karin Rosarne, Realty Executives Gallery William George Salatich, Keller Williams On The Water Patricia L. Sanderson, Keller Williams Island Life Re Kathryn Short Self, Duncan Real Estate, Inc. Yvette Sellyn, Coldwell Banker Res R E Angelica Bramble Shupe, Fine Properties Jeanne Marie Siracuse, Keller Williams On The Water Tracy R Snelgrove, Realtylogic Michael L. Stutzman, Exit King Realty Michael Troike, EXP Realty, LLC Sheryl VanDuren, Coldwell Banker Residential RE Stephen Richard Walter, Michael Saunders & Company McKenzie Weirich, Exit King Realty David Albert Welch, Fathom Realty FL LLC Kendall Jordan Williams, Keller Williams Realty Select Albina Osipova Williamson, Coldwell Banker Res RE James Twite Wilson, Sato Real Estate Inc.

NEW BUSINESS PARTNERS 2-10 HOMEBUYERS WARRANTY 13900 E Harvard Ave Aurora, Colorado 80014 Representative: Scott Sullivan Email: ssullivan@2-10.com 2-10 Home Buyers Warranty provides home warranties for builders, real estate agents and homeowners, to make protecting a home simple and economical.

ASCENDIA INSURANCE SERVICES, LLC 5127 Ocean Drive Sarasota, Florida 34242 Representative: Ginger Young Email: ginger@ascendiais.com Ascendia Insurance Services is the insurance agency arm of Ascendia Group, a “one stop shop” for real estate sales and investments, property management services for investment properties and insurance coverages to protect our client’s investments, homes, vehicles and businesses.

BRADENTON TERMITE AND PEST CONTROL 2709 3rd Ave West Bradenton, Florida 34205 Representative: Troy Davis Email: bradentonpest@gmail.com With over 30 years combined experience, our certified pest technicians have helped customers with a wide range of extermination services: termite, cockroach, flea, rodent, ant and bed bug control services. We service customers in Bradenton, Palmetto, St Pete and Sarasota.

CORE FINANCIAL INC 1221 30th Street W Bradenton, Florida 34205 Representative: Melissa Lilly Email: melissa@corefinancialinc.com Core Financial has every single type of loan program available to our clients, at lower rates, lower costs, and higher quality service than you will find anywhere else.

CYPRESS TITLE 4705 26th Street W Bradenton, Florida 34207 Representative: David Fernandez, Esq. Email: stormy@flclosings.com Cypress Title offers you the lowest closing fees in the entire area. We serve the entire State of Florida but focus primarily on Sarasota, Bradenton, Marenas, Hillsboro Beach and Pinellas County. You’ll find all the real estate services you need right here under one roof.

HABITAT FOR HUMANITY SARASOTA 1757 N. East Avenue Sarasota, Florida 34234 Representative: Doris Berkey Email: dberkey@habitatsrq.org Habitat for Humanity Sarasota is celebrating 35 years of impact in our community. Our impact is generational. We give families stability and peace of mind. We give children the opportunity for a brighter future.

LENNAR HOMES 11522 Monette Road Riverview, Florida 33569 Representative: Joe Martin Email: joe.martin@lennar.com One of America’s leading homebuilders and a Fortune 500 company, Lennar has had the privilege of helping over one million families move into the next stage of life with a new home.

MOVEMENT MORTGAGE, LLC 2201 Cantu Ct, Suite 116 Sarasota, Florida 34232 Representative: Katie Dean Email: katie.dean@movement.com Whether you’re buying, selling, refinancing, or building your dream home, you have a lot riding on your loan officer. Since market conditions and mortgage programs change frequently, you need to make sure you’re dealing with a top professional who is able to give you quick and accurate financial advice.

SKYMED INTERNATIONAL 5137 S. Lakeland Dr. Ste 4 Lakeland, Florida 33813 Representative: Peggy Shafer Email: peggy.shafer@skymed.com The flagship of the SkyMed Group of Companies, has been serving the traveling public since 1989. A membership company specializing in 18 emergency travel services, we have organized air evacuations all over the world under almost every kind of circumstance.

SUNCOAST HEALTH INSURANCE 5327 Levi Lane Sarasota, Florida 34233 Representative: Jeffrey Weiss Email: jeff.weiss@suncoasthealthinsurance.com At Suncoast Health Insurance, I strongly believe in my statement that “It’s about the relationship, Not the policy.” Often agents reach out once a year to their customers when it is time to renew; we stay connected with our clients throughout the year.

myRASM.com | 35

PLATINUM 2020 ANNUAL SPONSORS PLATINUM

SILVER

BRONZE Peace of Mind Home Inspections Ruoff Home Mortgage Housing Finance Authority Barnes Walker Title Bert Rodgers Schools

RASM Members Now With Joe W. Almeida, Medway Realty Curtis Arndt, Living Vogue LLC Angela Lewis Bailey, Monarch Property Group LLC Jennifer Hope Ball, Fine Properties Ashley Beasley, Realty Place Erin Berg, Berg Realty LLC Brianna Bevelock, Brince Realty LLC Tiffany Briggs, Sarasota Trust Realty Company Barbra-Renee Brighenti, Fine Properties Julie A. Brown, EXP Realty Candace Payne Cate, BeachSalesMobi LLC Jason Dâ&#x20AC;&#x2122;Agostino, Preferred Shore Manuel Gunner Davis, Coldwell Banker Residential John Robert Day, RoseBay International Anabely De la torre, Coldwell Banker Residential R. Victoria Dominguez, Preferred Shore David C. Drewett, Coldwell Banker Res RE Kelly Drost, Jay Alan Real Estate Avery Ellis, Coldwell Banker Residential RE Jane Gail Filosa, Fine Properties Joseph Patrick Flanagan, Mapp Realty & Investment Co Darlene K. Gamble, Fine Properties Gary J. Grainger, Keller Williams On The Water Bradford Hanley, Caron Realty Inc Karen Harllee, Vacasa Florida Margaret Hart, Coldwell Banker Sunstar Realty Trevor Helton, Coastal Living Realty LLC William F. Hewitt, Robert Slack LLC Johnny Hopper, Coldwell Banker William Brett James, Place Real Estate Karla Renee Jones Wilson, Coldwell Banker Res RE Lisa Marie Kennedy, EXP Realty Thomas Kiessling, EXP Realty Justin Knepp, Preferred Shore Tomi Knepp, Preferred Shore Ingrid D. Kozak, Bright Realty Terri M. Krenn, Berkshire Hathaway HomeServices Florida Realty Gina L. LaRouche, Coldwell Banker Res RE Ida Faye Latimore, EXP Realty Jeannette Leon, Fine Properties Derek Michael Lersch, Bright Realty Michele Lersch, Bright Realty David Liberatore, PLLC,Better Homes and Gardens Real Estate Atchley Properties Gordon Henry Long, Suncoast Realty Solutions Kacey Farrenkopf Lynn, Robert Slack LLC Karen Lynn Masters, Exit Sunset Realty Nelly McWilliams, Bright Realty Timothy Javier Mendizabal, Trend Realty Morgan Mierswa, Exit King Realty Cletus Ray Miller, Florida Realty Investments

Terry Millett, Xcellence Realty Stacey Elaine Rhoads, Preferred Shore Lena Marie Rink, Bright Realty Joseph Rogers, Fran Maxon Real Estate Amiee Louise Rothrock, Harvey Wasserman & Company Real Estate Milagro D. Scardigno, Florida Gulf Coast Life Realty Tammy J. Scharoun Danforth, Blakeley & Associates Realty Stormy Robin Sharp, Medway Realty Angelica Bramble Shupe, Fine Properties Lewis Stirling Shupe, Fine Properties Shrvette Lechelle Small, Fine Properties Dennis Keith Smith, Coldwell Banker Res RE Marina V. Solo, Keller Williams Realty Select John A. Spelman, Alliance Group Limited Clara Francisco Stevens, Medway Realty Heather Stroh, Coldwell Banker Residential Re Elizabeth M. Svirsky, Preferred Shore Zachary Younce, Coldwell Banker Residential RE Alyssa Young, Coldwell Banker Residential RE Stratton Zervos, Berg Realty LLC

PRSRT STD U.S. POSTAGE PAID MANASOTA, FL PERMIT NO. 451

It’s easy to grow your business with us. 888–KB–HOMES | kbhome.com

Second & Third Closings

3.5%

Fourth + Closing

At KB Home, get 3% commission on your first closing. For your second and third closings, earn 3.5%. Four or more, 4%. When you close more, you’ll earn more.

Avaunce in Bradenton • From the high $200s • 1,286–3,016 sq. ft., 3–6 bdrms., 2–3.5 baths • No CDD fees • Gated community with planned pool and cabana • Commuter friendly; just minutes from I-75, Hwy. 70 and Hwy. 64 14222 59th Cir. E., Bradenton, FL 34211 • 813-387-9682

Broker Cooperation Welcome. ©2020 KB Home (KBH). Payment of up to 4% Broker Co-op requires Broker or agent to accompany and register buyer on first visit to community and comply with Broker Co-op Agreement. Commission offer is valid on each eligible sale of select new KB homes in the Tampa and Southwest Florida areas and on contracts for full list price only. For Broker to receive commission, buyer must sign purchase agreement between 1/1/20 and 12/31/20, and close escrow in time required under contract. Commission not transferable or exchangeable and cannot be combined with any other offers. Once client has closed escrow, Broker will receive commission by mail. Commission awarded only on non-contingent contracts. Cancelled sales are not eligible. Sales of model homes excluded. Broker must be legal U.S. resident and 18 or older, and an active, licensed real estate agent in Florida. Other exclusions, qualifications, restrictions and limitations may apply. Plans, pricing, financing, terms, availability and specifications subject to change/prior sale without notice and may vary by neighborhood, lot location and home series. Buyer responsible for all taxes, insurance and other fees. Sq. footage is approximate. HOA applies. Future development of planned amenities is subject to change and not guaranteed. Photo may display decorator items/furnishings not available for purchase and may not represent lowest-priced homes. Photo does not depict racial preference. See sales counselor for details. CGC047286 TAM-272602

REALTOR® Association of Sarasota and Manatee, Inc. 2320 Cattlemen Road Sarasota, FL 34232

First Closing

Looking for bigger commissions?

PHONE: (941) 952-3400 FAX: (941) 952-3401

www.MyRASM.com

EXPANDED REPORTS Sarasota and Manatee Counties

FEBRUARY 2019 Reach Further With The Market.

For more detailed reports, visit myrasm.com/statistics

Monthly Distressed Market - February 2020 Single Family Homes Sarasota County

Closed Sales

February 2020

February 2019

Percent Change Year-over-Year

603

576

4.7%

$308,000

$290,000

6.2%

0.0%

$212,000

$210,500

0.7%

-40.0%

$270,000

$181,250

49.0%

Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2016

2017

Traditional

2018

Foreclosure/REO

2019

Short Sale

100% 98%

Closed Sales

96%

94% 92% 90% 88% 86% 84% 82%

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

$500K $450K

Median Sale Price

$400K $350K $300K

$250K $200K $150K $100K $50K $0K

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

2016

2017

2018

2019

Monthly Distressed Market - February 2020 Single Family Homes Manatee County

Closed Sales

February 2020

February 2019

Percent Change Year-over-Year

461

449

2.7%

$325,000

$300,000

8.3%

0.0%

$189,900

$191,000

-0.6%

50.0%

$274,000

$97,500

181.0%

Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2016

2017

Traditional

2018

Foreclosure/REO

2019

Short Sale

100% 98%

Closed Sales

96% 94% 92% 90% 88% 86% 84% 82% 80%

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

$700K

Median Sale Price

$600K $500K $400K $300K $200K $100K $0K

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

2016

2017

2018

2019

Monthly Distressed Market - February 2020 Townhouses and Condos Sarasota County

Closed Sales

February 2020

February 2019

Percent Change Year-over-Year

370

272

36.0%

$263,495

$242,763

8.5%

-20.0%

$197,600

$119,500

65.4%

N/A

$242,500

(No Sales)

N/A

Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2016

2017

Traditional

2018

Foreclosure/REO

2019

Short Sale

100% 99%

Closed Sales

98% 97% 96% 95% 94% 93% 92% 91% 90%

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

$1200K

Median Sale Price

$1000K

$800K

$600K

$400K

$200K

$0K

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

2016

2017

2018

2019

Produced by Florida REALTORSÂŽ with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.

Monthly Distressed Market - February 2020 Townhouses and Condos Manatee County

Closed Sales

February 2020

February 2019

Percent Change Year-over-Year

238

170

40.0%

$210,000

$188,000

11.7%

50.0%

$175,000

$918,125

-80.9%

N/A

(No Sales)

N/A

Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2016

2017

Traditional

2018

Foreclosure/REO

2019

Short Sale

100%

98%

Closed Sales

96% 94% 92% 90%

88% 86% 84%

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

$1000K $900K

Median Sale Price

$800K $700K $600K

$500K $400K $300K $200K $100K $0K

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

2016

2017

2018

2019

Produced by Florida REALTORSÂŽ with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.

ELEVATE Magazine - RASM - April 2020 Issue

Articles inside

RASM Recognizes Monica Waterman as ‘Humanitarian’ in Quarter 1

Realtor® Attorney Joint Committee

Commercial Real Estate Alliance

Property Management Council

Young Professionals Network

Calendar of Events

Government Affairs

Neighborhood Spotlight

Global Business Council