ELEVATE Magazine - RASM - April 2021 Issue by REALTOR® Association of Sarasota and Manatee

April 2021

Fair Housing for All 6

Hot Sales Market Creates Low Inventory of Rental Properties 12

FIRPTA For Realtors® 14

RASM Recognizes Joshua Morris as ‘Humanitarian’ for Quarter 1 28

The St. Regis Longboat Key Resort brings luxury seaside living to an unprecedented level. Ranging from $2 million to $20 million, only half of the 69 residences remain. Will you be one of the fortunate few to live along the powdery sands of the Gulf of Mexico?

Call for appointment. 941.213.3300 | Sales gallery open: 100 South Washington Boulevard, Sarasota 1620 Gulf of Mexico Drive, Longboat Key | SRResidencesLongboatKey.com MichaelSaunders.com/New-Homes | 844.591.4333 | InWithTheNew@michaelsaunders.com March 2021 | ©Michael Saunders & Company, Licensed Real Estate Broker

WHITE GLOVE SERVICE NEED A HOME EMPTIED OF SELLABLE ITEMS? LEAVE IT TO US!

We carefully pack up the contents of homes and businesses, take it all to Goodwill where we turn your donations into jobs for our community, all for FREE! A donation receipt will be provided.

941.355.2721 EXT. 131 EXPERIENCEGOODWILL.ORG

In with the new MOVE-IN READY

WATERFRONT HOMES & HOMESITES

Downtown Sarasota

Bradenton Riverfront

Risdon on 5th RisdonOn5th.com | 941.365.1414 From the high $300,000s

Prices as of April 2021.

Riverside Point RiversidePointFlorida.com | 941.201.8505 Homes from the low $600,000s

NOW SELLING NEW PHASE

Northwest Bradenton Palma Sola Bay Club PalmaSolaBayClub.com | 941.216.7436 From the high $300,000s

WWW.MICHAELSAUNDERS.COM/NEW-HOMES | 844.591.4333 | SARASOTA, FLORIDA

Licensed Real Estate Broker

myRASM.com | 3

Contents APRIL 2021

COVER STORY

Property Management Council

Realtor® Attorney Joint Committee

16 17 22

Government Affairs

Low Rental Inventory

We all know that the sales market right now is extremely hot! With high buyer demand and low property inventory, it has become a very competitive seller’s market. Sales prices are increasing every month. What does that mean for rentals?

4 | ELEVATE [ APRIL 2021 ]

FIRPTA For Realtors®

What do you do if you are at a listing appointment and find out that your seller is not a United States citizen or resident? The Sarasota-Manatee area is the state’s fourth most popular area for foreign buyers of real estate.

Commercial Real Estate Alliance

Global Business Council

Young Professionals Network

Neighborhood Spotlight

30 33

Calendar of Events

FAIR HOUSING FOR ALL

April is national Fair Housing month. It is a time for us to observe the anniversary of the passage of the Fair Housing Act of 1968 with events and opportunities designed to educate about housing discrimination and segregation, and to renew our commitment to expanding equal access to housing. Realtors® are charged with upholding fair housing laws as well as offering professional service to all in their search for real estate. As stewards of the right to own, use and transfer private property, fair housing protects our livelihood and business as Realtors® and depends on a free, open market that embraces equal opportunity.

Market Analysis

Professional Development Membership News

Humanitarian of the Quarter

The RASM Community Outreach Committee has posthumously recognized Joshua Morris, who was a Realtor® with NextHome Excellence, as the RASM “Humanitarian of the Quarter” recipient for the First Quarter of 2021.

CEO 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.

2021 ASSOCIATION OFFICERS: President: Alex Krumm, NextHome Excellence President-Elect: Tony Veldkamp, SVN ® Commercial Advisory Group Vice President: Brian Tresidder, Key Solutions Real Estate Group Treasurer: Michael Bruno, Michael Saunders & Company Immediate Past President: David Clapp, RE/MAX Alliance Group 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. 2021 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.

Realtors® Commit to Diversity, Equity, and Inclusion By: Jeff Arakelian, RASM CEO

ifty-three years ago, the federal Fair Housing Act became the law of the land. Fifty years later, we learned that housing discrimination is still very prevalent in our industry. A ground breaking 3-year undercover investigation by Newsday on housing discrimination in Long Island, NY found widespread unequal treatment of minority customers by real estate agents. Further, the tragic events of 2020 illuminated the continued existence of systemic racism and implicit bias in our society. These developments awakened individuals and organizations throughout our nation including the REALTOR® Association that more needed to be done to become more inclusive and diverse.

“Our members are urged to commit themselves to furthering their professionalism by completing all training opportunities addressing fair housing and anti-discrimination.” The National Association of REALTORS® (NAR) and the entire REALTOR® Association responded to make diversity, equity, and inclusion an integral part of what the Association stands for and strives to achieve. With April recognizing Fair Housing Month, this issue of ELEVATE’s feature article focuses on the actions taken by NAR to improve Diversity, Equity and Inclusion (DEI) in the REALTOR® organization. Most notable is NAR’s adoption of Standard of Practice 10-5 to the REALTORS® Code of Ethics, which makes unethical the use of harassing and hate speech, epithets, or slurs based on race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity. NAR also implemented an online training simulation called Fairhaven to raise awareness of fair housing issues in real life scenarios, introduced an implicit bias training video, and urged members to recommit to diversity training by completing the At Home With Diversity certification course. Our members are urged to commit themselves to furthering their professionalism by completing all training opportunities addressing fair housing and anti-discrimination. Our Association stands with the NAR to foster greater Diversity, Equity, and Inclusion (DEI) by incorporating these new programs into our on-going activities because “That’s Who We R.” • myRASM.com | 5

COVER STORY

Fair Housing for All

pril is national Fair Housing month. It is a time for us to observe the anniversary of the passage of the Fair Housing Act of 1968 with events and opportunities designed to educate about housing discrimination and segregation, and to renew our commitment to expanding equal access to housing. Realtors® are charged with upholding fair housing laws as well as offering professional service to all in their search for real estate. Fair housing is more than a list of dos and don’ts, rights and penalties, and mandatory continuing education. As stewards of the right to own, use and transfer private property, fair housing protects our livelihood and business as Realtors® and depends on a free, open market that embraces equal opportunity.1

RASM’S COMMITMENT Commitment to community is at the core of the Realtor® proposition. Diversity inspires us to challenge our assumptions; our different backgrounds and our points of view make us stronger when we consider them together. We mightily enforce that commitment through our Code of Ethics, which commands mutual respect regardless of race, ethnicity, gender, religion, age, sexual orientation, gender identity, disability, national origin, socioeconomic status, political affiliation, or any other qualities by which we may define ourselves. 6 | ELEVATE [ APRIL 2021 ]

“We’re proud to celebrate Fair Housing Month because we believe in the dream of homeownership for all people,” said Alex Krumm, Broker Owner of NextHome Excellence and 2021 RASM President. “We’ve pushed hard for years to make inclusion and equality a focus in both the national and our local conversations. Realtors® are citizens of our communities, advocates for all people, and dedicated to the principles of inclusivity and fairness.”

STAND UP TO THE CHALLENGE! RASM stands with NAR as they continue to strengthen their commitment to fair housing in the real estate industry. NAR’s Fair Housing Action Plan, abbreviated ‘ACT,’ emphasizes (A)ccountability, (C)ulture Change, and (T)raining in order to ensure America’s 1.4 million Realtors® are doing everything possible to protect housing rights in America. NAR 2021 President Charlie Oppler is asking that our Association leaders join the challenge, and in turn challenge their membership, by completing the Fairhaven Fair Housing Simulation, Implicit Bias Training, and to earn your At Home With Diversity® certification. Realtors® who complete these three programs will be empowered to confront and check their own biases; honor the Fair Housing Act, and work to end discrimination in housing.2 nar.realtor/fair-housing.

FAIRHAVEN Fairhaven is a new, online, immersive simulation that uses the power of storytelling to make learners confront fair housing discrimination in scenarios that we hope feel real. Participants in the fictional town of Fairhaven play the role of an agent. In the simulation, they work against the clock to close four deals. As learners interact with clients and colleagues in each scenario, they will confront some form of discrimination—based on race, national origin, disability, familial status, sexual orientation, and gender identity. The scenarios in Fairhaven are inspired by real fair housing cases, and by conversations held with NAR members. The training provides customized feedback that Realtors® can apply to daily business interactions.3 Fairhaven.realtor.

IMPLICIT BIAS TRAINING VIDEO The new NAR online workshop helps Realtors® understand how our unconscious brains categorize information and stereotypes and offers practical tools to override hidden biases. Part of this training includes a new 50-minute implicit bias training video. Partnering with the New York-based Perception Institute, NAR’s online video draws upon recent research to illustrate how the human brain’s automatic, instant association of stereotypes with particular groups can cause people to treat those who are different from them unfairly. The video also offers strategies to override bias in order to convey respect, ensure fairness and improve business relationships. Scientific evidence also suggests these biases persist despite people’s best intentions and often without conscious awareness. The workshop offers many “de-biasing” practices that not only help to reduce bias, but also improve our relationships with all the people we encounter— being more responsive, growing our networks, and generating more business.4

AT HOME WITH DIVERSITY® CERTIFICATION Another great educational opportunity for Realtors® is the At Home With Diversity® (AHWD) certification course. This course teaches Realtors® how to work effectively with diverse populations so they can build business success in today’s multicultural real estate market. The AHWD certification will also help Realtors® to:

Understand attributes of diversity in local markets and their impact on the real estate industry. Understand basic competencies to earn the confidence of potential buyers and sellers, regardless of race, ethnicity, religion, gender, handicaps, familial status, or national origin. Build a business plan that minimizes risk and successfully services all types of clients.

“The importance of completing the At Home With Diversity certification had been on my mind for some time simply because of significant recent events,” said Joyce Steward, Real Estate Broker, and recent AHWD graduate. “The course changed the way I begin my conversations with potential buyers in that I delve more into what they say they are looking for, what they vision their lifestyle to be, and a location that is a priority for them. With the availability of information now open to everyone on the internet, the public knows those answers. I need to ‘hear’ them.” “I was one that never felt that I was a non-inclusive person, but it didn’t take long into the class that I realized I was not listening to what many people in our country were feeling and experiencing. I was introduced to the term ‘implicit bias’ early in the teaching. I had heard the term before, but I wasn’t really ‘hearing’ the term. As a Realtor®, I learned to treat every customer, fellow agent, and seller or buyer exactly the same from the beginning. To be able to do that, I must stop and listen AND absorb what is being said. Understanding one’s situation is key to inclusivity in all phases of the real estate business. It is my belief that each licensed real estate agent/broker should take the course At Home With Diversity to be a more sensitive and inclusive member of the real estate business and to be prepared to call attention to something that just doesn’t sound right,” added Steward. As a bonus, the AHWD Certification counts as the Accredited Buyer’s Representative (ABR®) Designation elective, a task required in the C2EX Program, and one elective course towards the CIPS Designation.5 [ Continued on page 8 ] myRASM.com | 7

COVER STORY CONTINUED NAR 2021 SNAPSHOT OF RACE AND HOME BUYING IN AMERICA In February 2021, NAR released the report A Snapshot of Race and Home Buying in America. This report looks into the characteristics of who purchases homes, why they purchase, what they purchase, and the financial background for buyers based on race. This report examines these homeownership trends among each racial group during the last 10 years. Since real estate activity is local, homeownership opportunities vary by area. So, the report also examines where most of minority homeowners are located and which areas are more affordable for these households.6

AFFORDABILITY BY RACE Especially during the pandemic, demand has surpassed supply across the nation and home prices continue to increase, causing increased affordability concerns. In fact, the supply of homes has been under produced for the past decade. The NAR report states that home prices have continuously risen for the last nine years, since February 2012. The median existinghome price rose to nearly $309,800 in December 2020; 13% more than a year earlier; 40% more than five years earlier. Nationwide, 43% of black Americans can afford to buy the typical home compared to 63% of white Americans. Respectively, 71% of Asian Americans and 54% of Hispanic Americans can afford to buy the typical home.7 Of course, affordability conditions vary by area. Fast-rising home prices seem to be eroding the benefits of the current low rates in some areas, making it more difficult for every American to accomplish their home buying dream. The NAR report delves into many important issues that cannot be solved overnight, but nevertheless; they deserve our full attention. To read the full report, visit www.nar.realtor/research-andstatistics/research-reports/a-snapshot-of-race-andhome-buying-in-america.

HATE SPEECH Late last year, the NAR Board of Directors passed a motion making it a violation for Realtors® to use harassing or hate speech toward any of the protected classes under Article 10 of NAR’s Code of Ethics. Those include race, color, religion, sex, handicap, familial status, national origin, sexual orientation, and gender identity. The Professional Standards Committee recommendations come as NAR works to reaffirm its commitment to fair housing and position its members to lead America’s real estate industry in the fight against discrimination and inequality.8

INEQUALITIES IN HOME OWNERSHIP Homeownership is the largest single contributor to intergenerational wealth for American families. But it has not been accessible to all Americans on equal terms. More than 50 years after passage of the federal Fair Housing Act, there remains a 30-percentagepoint homeownership gap between white and black Americans - the same as in 1968, the year the act was 8 | ELEVATE [ APRIL 2021 ]

adopted. Black Americans own one-tenth the wealth of white Americans, despite earning, on average, about 60% of white Americans’ income. With awareness of this history, cities and states are exploring ways to repair past harm and protect against future loss. As community leaders, advocates for homeownership, and protectors of property rights, Realtors® are engaged in efforts to build a more equitable future.10

PRESIDENT BIDEN’S FAIR HOUSING LEGISLATION The issue of Fair Housing and discrimination is so vital to our overall wellbeing, that President Biden recently issued several actions related to ending discrimination and promoting fair housing and equal opportunity for all Americans. Included in these was the January 20, 2021, Executive Order on Preventing and Combating Discrimination on the Basis of Gender Identity or Sexual Orientation and the January 26, 2021, Memorandum on Redressing Our Nation’s and the Federal Government’s History of Discriminatory Housing Practices and Policies.

EXECUTIVE ORDER & MEMORANDUM The executive order on preventing and combating discrimination on the basis of gender identity or sexual orientation directs heads of federal agencies to examine previous agency actions. The order directs federal agencies to interpret all civil rights laws, including the Fair Housing Act, that include a prohibition on discrimination “because of sex” to include discrimination on the basis of sexual orientation and gender identity. The Memorandum on Redressing Our Nation’s and the Federal Government’s History of Discriminatory Housing Practices and Policies directs the federal government to redress its history of discriminatory housing and lending practices. Polices are in place to actively combat racial bias in rental and home-purchase transactions and to eliminate barriers to housing choice. In addition, HUD is directed to ensure its programs and procedures are affirmatively furthering fair housing and fully enforcing the Fair Housing Act, including the prevention of practices with an unjustified discriminatory effect.11 •

SOURCES 1 | https://www.nar.realtor/research-and-statistics/research-reports/a-snapshotof-race-and-home-buying-in-america 2 | https://www.nar.realtor/national-leadership/fair-housing-challenge-standup-for-racial-equity 3 | https://www.nar.realtor/fair-housing 4 | https://www.nar.realtor/newsroom/nar-introduces-implicit-bias-training-forrealtor-members-associations 5 | https://www.nar.realtor/at-home-with-diversity 6 | https://cdn.nar.realtor/sites/default/files/documents/2021-snapshot-of-raceand-home-buyers-in-america-report-02-19-2021.pdf 7 | https://cdn.nar.realtor/sites/default/files/documents/2021-snapshot-of-raceand-home-buyers-in-america-report-02-19-2021.pdf 8 | https://www.nar.realtor/newsroom/nar-board-of-directors-approves-newpersonal-conduct-policy-addressing-discrimination 9 | https://www.nar.realtor/realtor-ae-magazine/drawing-a-line 10 | https://magazine.realtor/news-and-commentary/feature/article/2021/03/ repairers-of-the-breach? 11 | https://www.nar.realtor/washington-report/bidens-actions-on-fair-housing.

https://www.nar.realtor/washington-report/bidens-actions-on-fairhousing

BUSINESS PARTNER SPOTLIGHT

W3 Wallace Welch & Willingham By: Janet Bognar, Senior Personal Insurance Advisor

he depth of experience Janet Bognar brings to W3 is extraordinary. For more than 40 years, she’s explained coverage options to clients with the ease and care of a skilled educator. Janet WALLACE WELCH WILLINGHAM previously owned Vestor Insurance Services and has been a 5 Star Auto and Home Insurance professional in the Sarasota area for nearly a decade. A holder of the 220 Property & Casualty and 215 Life and Health Insurance licenses, she has earned the &

I N S U R A N C E & R I S K M A N AG E M E N T S I N C E 1 9 2 5

the key to ending discrimination in real estate isn’t this ad.

designations of CIIP (Certified Industry Professional) and PIAM (Professional Insurance in Account Management). She is a member of ABWA (American Business Women’s Association), and is the vice president of the organization. She is also a member of the Cove Communities’ Board of Directors, and the Women’s Council of Realtors®, as well as a RASM Business Partner. She enjoys time with her husband, Ron, as well as gardening, theatre, and attending craft shows. Wallace Welch & Willingham can protect your home, auto, and other assets as well. For more information on Janet Bognar and W3, please visit W3INS.COM. To reach Janet personally, email jbognar@ w3ins.com or call 941-377-7283, ext 311. •

If recent events have taught us anything, it’s this: we have more work to do. Racism is real, tragically so. Discrimination, in all its forms, still casts a long shadow in this country, and too many are being denied the opportunities that all Americans deserve. Our commitment to the diverse communities we serve starts with a Code of Ethics. Our code sets a higher standard for fairness in housing than any federal law, it’s backed by a culture of member accountability, and it extends to our work on Capitol Hill, where we continue to advocate for meaningful change. At the National Association of REALTORS® we believe that fairness is worth fighting for, and we won’t stop until the fight is won. Because that’s who we are.

If you experience or witness discrimination in real estate, we urge you to report it. Visit hud.gov/fairhousing to file a complaint with the Department of Housing and Urban Development.

REALTORS® are members of the National Association of REALTORS®

myRASM.com | 9

PROFESSIONAL STANDARDS

Use of “Choose Your Neighbor” Marketing Letters By: National Association of REALTORS® Interpretations of the Code of Ethics Case #10-4 (Adopted November, 1987. Revised November, 2013 and November, 2017).

ealtor® A listed a property in a new subdivision. At the instruction of his client, Seller X, Realtor® A did not enter the listing in the MLS, did not place a “For Sale” sign on the property and did not advertise the property online. Seller X had told Realtor® A that he wanted the sale handled quietly, with the new purchasers being people who would “fit into the neighborhood - people with the same socioeconomic background” as the other residents of the subdivision. Based on his conversation with Seller X, Realtor® A’s only marketing effort was mailing a letter to the other residents of the subdivision, inviting them “to play a part in the decision of who your next neighbor will be. If you know of someone who you would like to live in the neighborhood, please let them know of the availability of this home, or call me and I will be happy to contact them and arrange a private showing.” Realtor® A’s marketing strategy came to the attention of Realtor® B, whose mother lived in the subdivision. Realtor® B filed a complaint charging Realtor® A with a violation of Article 10 of the Code of Ethics. At the hearing, Realtor® B told the Hearing Panel of receiving a copy of the marketing letter from his mother, who had recently moved to the subdivision. Realtor® B advised the panel that he had checked the MLS for information on the property, had driven

past the house to look for a “For Sale” sign and had searched online for any information on the property. Finding nothing, Realtor® B concluded that Realtor® A’s marketing strategy was to limit access to the property to individuals preselected by the current residents. “In my mind,” said Realtor® B, “this could only mean one thing. Realtor® A was deliberately discriminating against home buyers from other areas, or those with different backgrounds, who would never have the opportunity to learn about the house’s availability. Obviously, Realtor® A was directing all of his marketing energies into finding purchasers who would not disrupt the ethnic and economic character of the neighborhood.” Realtor® A defended his actions by advising the panel that he was acting on Seller X’s instructions. Seller X appeared as a witness for Realtor® A and confirmed this fact, adding that he and the other residents of his block had an informal agreement that they would try to find “suitable” purchasers for their homes if they ever decided to sell. Seller X felt that by broadening the marketing campaign to include all residents of the subdivision he had increased the chances of finding such potential purchasers. The Hearing Panel found Realtor® A in violation of Article 10 of the Code of Ethics. In their decision, the panel advised Realtor® A that no instruction from a client could absolve a Realtor® from the obligation to market properties without regard to race, color, religion, sex, handicap, familial status, country of national origin, sexual orientation, or gender identity, as expressed in Article 10. There was no doubt, in the panel’s opinion, that the exclusive use of “Choose Your Neighbor” letters to market the property was designed to circumvent the requirements of Article 10. • Published with the consent of the NATIONAL ASSOCIATION OF REALTORS®. Copyright NATIONAL ASSOCIATION OF REALTORS®-All Rights Reserved.

10 | ELEVATE [ APRIL 2021 ]

RASM NEWS YOU CAN USECOUNCIL PROPERTY MANAGEMENT

Hot Sales Market Creates Low Inventory of Rental Properties By: Stevie Krumm, Broker/Owner, NextHome Excellence, Property Manager

e all know that the sales market right now is extremely hot! With high buyer demand and low property inventory, it has become a very competitive seller’s market.

LACK OF RENTAL INVENTORY Sales prices are increasing every month and multiple offers are received within days of a listing going live. What you might not know is that this same scenario is also happening in the residential rental market. Like sales listings, there is an extreme shortage of homes for rent in Sarasota and Manatee counties. The properties that do become available are rented quickly within a three-week average and have multiple applicants waiting in line just for the chance to apply. To some, this is the best-case scenario, while others find it quite frustrating.

INCREASED RENTAL RATES Tenants whose leases are expiring are realizing that they are stuck between a rock and a hard place. Their landlord may offer a lease renewal but at a

12 | ELEVATE [ APRIL 2021 ]

newly increased rate. There are not many properties to choose from if tenants decide to move, and they are torn with the decision to renew at a higher price or vacate and play the field. They have to be ready to apply and pay up to three months’ rent (typically first, last, and security deposit) the minute a property hits the market. Landlords have recognized what is happening and are eager to raise the rent. In the past six months, rental rates have increased by 5 percent to 10 percent on annual rentals. Just as sellers are making out like bandits in the sales market, landlords are finally getting the higher returns on their investments that they’ve been dreaming of.

SELLERS BECOME TENANTS Sellers that have decided to cash in on this hot sales market are finding themselves having to be out of the home they just sold faster than they can find a new property to purchase. This leads them to think that they will be able to rent somewhere while they look for their next home. They quickly realize that they have just as little to choose from in the rental market as in the sales market. Most of the unfurnished, annual rentals have been rented. Even fully furnished vacation rentals are getting booked with local residents instead of out-of-town vacationers, and the locals certainly don’t like having to pay the taxes that are required on a short-term lease! But it seems they have no other choice. The lack of inventory of rental properties is directly related to the booming sales market. Sellers usually turn to property managers when they are having trouble selling their property. Instead of selling, they decide to lease their home in order to mitigate the costs of homeownership. Since properties are selling so quickly and for top dollar, property managers are left wondering when they will be able to build their portfolios of properties. We all know real estate is very cyclical and this market won’t last forever. Sales will eventually slow down. Properties will eventually flood the market again. Sales prices and rental rates will also come down. So, whether you are a troubled tenant or a lucrative landlord, just know that the tides will turn… someday. •

DISCOVER THE + IN 55+ LIVING AT LAKEWOOD RANCH

Award-winning lifestyle based on Fitness, Nutrition and Relationships New Homes from the $300s | Move-In Ready Homes Available

CresswindLakewoodRanch.com | 888-853-0483 Decorated Models Open Daily | 5063 Simons Court | Lakewood Ranch

FIND FRESH SPACE AT ARTISTRY

Contemporary 2–5 bedroom homes in Sarasota East New Homes from the $400s | Move-In Ready Homes Available

ArtistrySarasota.com | 855-551-2803 Decorated Models Open Daily | 8900 Bernini Place | Sarasota

Contact sales office for special opportunities for you and your clients. Visit our Realtor Portal for free marketing tools and sell more at www.KolterForRealtors.com.

Realtors Warmly Welcomed. Pricing, availability, specifications and amenities are subject to change without notice. CGC1509406

REALTOR® ATTORNEY JOINT COMMITTEE

FIRPTA for Realtors® By: Peter J. Pike, Esq., Pike Law Firm, PA

hat do you do if you are at a listing appointment and find out that your seller is not a United States citizen or resident? The Sarasota-Manatee area is the state’s fourth most popular area for foreign buyers of real estate. At some point in time, those owners are going to sell. When they do, you need to help them understand their obligations under FIRPTA.

UNDERSTANDING FIRPTA FIRPTA is the Foreign Investment in Real Property Tax Act. If applicable, the buyer is required to withhold fifteen percent of the amount realized (which is usually the sale price) from the money paid to the seller and pay it to the IRS! The seller can file their tax return the next year and try to get a refund of any overpayment. How do you know whether your seller is a U.S. citizen or has a green card? Pull up the property’s tax bill. If it is being sent to an address in a foreign country, then it is very likely that FIRPTA will apply. An example of a script for your listing pitch is – “I just want to make sure that you are fully protected when you sell – are you aware of the Foreign Investment in

Real Property Tax Act? If you are not a U.S. Citizen or do not have a green card, the buyer will have to withhold 15 percent of the purchase price and pay it to the IRS. Do you know whether this applies to you?” If they are not sure whether FIRPTA applies you should have them contact their tax advisor (accountant) or a knowledgeable real estate attorney. There are documents that can be filed before closing that can limit the amount of money to be withheld. Be careful as to how much you help your seller with FIRPTA issues. Informing them of the issue and referring them to their tax advisor or to a local accountant that handles these matters is fine. Getting the forms and helping them fill out the forms is not!

FIRPTA EXCEPTIONS One exemption to FIRPTA withholding is if the house is selling for not more than $300,000, the buyer intends to live in the house for at least half the time that it is occupied during the next two years, AND the buyer signs a certification to that effect. I always advise agents not to rely upon this exemption, because there is no benefit, but a possible liability to the buyer. If the buyer does not occupy the property for half of the time that it is in use, the buyer can be liable for the tax not withheld, penalties and interest. To avoid liability, the buyer must demonstrate a change of circumstances that the buyer could not have reasonably foreseen, which caused the change of plans. Even if the Buyer ultimately prevails, the costs of defense could be substantial. Sellers should consider FIRPTA compliance as soon as possible. The best thing to do is refer your customer to a knowledgeable real estate attorney or accountant so they can get the advice that they need. •

UPCOMING CLASS FIRPTA FOR REALTORS® Tuesday, April 6

10:30 - 11:30 a.m.

[ Online ]

The Sarasota-Manatee area is the state’s fourth most popular area for foreign buyers of real estate. At some point in time, those owners are going to sell. When they do, you need to help them understand their obligations under FIRPTA. Members Free. This article is meant for educational purposes only. It is not intended to serve as legal advice and should not be used as a substitute for consultation with an attorney.

14 | ELEVATE [ APRIL 2021 ]

2021 PARADE OF HOMES WINNER OF BEST OVERALL COMMUNITY

Genoa

Extraordinary Residences. Exceptional Community.

NEW ESTATE HOMES | TOUR OUR 2021 COLLECTION Stock Luxury Homes has debuted five brand new homes in the Estate section of Genoa on expansive Estate lots —they’re like nothing else you’ve seen in Lakewood Ranch! This luxury enclave has expanded to include four neighborhoods from which to choose by Stock Luxury Homes, featuring homes ranging in size from 2,400 to over 4,000 square feet. And STOCK’s exclusive custom homebuilding division, Stock Custom Homes, is making its debut in The Lake Club with two exquisite estate homes under construction. Tour our gorgeous models and find your client's dream home in the most coveted village in Lakewood Ranch.

With a 20,000-square-foot Grande Clubhouse, spa & fitness, tennis, pickleball, fabulous dining, lifestyle director, concierge and more, The Lake Club offers the most desirable lifestyle of any village in Lakewood Ranch.

From the $800s THE LAKE CLUB INFORMATION CENTER: 8307 Lake Club Blvd., Lakewood Ranch, FL 34202 | (941) 907-9088 | thelakeclublwr.com

BROKER PARTICIPATION WELCOMED. ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS REFERENCE SHOULD BE MADE TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. NOT AN OFFERING WHERE PROHIBITED BY STATE LAW. PRICES SUBJECT TO CHANGE WITHOUT NOTICE.

FLStockDevelopment StockDevelopment

GOVERNMENT AFFAIRS

RASM Meets with Political Leaders at 2021 Virtual GARD By: Max Brandow, RASM Government Affairs Director

n March, RASM participated in the 2021 Great American REALTOR® Days (GARD). RASM Key Contacts conducted meetings with representatives and senators discussing topical real estate-related legislation and lobbying for Florida REALTORS® 2021 legislative priorities. GARD is an excellent way for our members to get in front of elected officials (virtually this year) and advocate for issues that promote real estate and bolster our industry. Below are just a few priorities Florida REALTORS® and RASM is advocating for this session:

BUSINESS LIABILITY PROTECTIONS

AFFORDABLE HOUSING

The current pandemic has created new challenges for businesses as they seek to operate safely, limiting the potential spread of the virus. These challenges have also created opportunities for attorneys that are looking to secure new revenue streams. If Florida businesses are to continue to operate during the pandemic and eventually recover from the crisis, they will need protections from these legal actions.

Florida continues to experience an affordable housing crisis. The current pandemic has exacerbated this crisis, making solutions more important than ever. Although lawmakers have a difficult task of closing a significant budget gap during the 2021 Legislative Session, it is imperative that they allocate as much funding as possible for affordable housing projects. Florida REALTORS® will continue to advocate for full funding from the trust funds to be allocated for affordable housing projects.

RISING PROPERTY INSURANCE COSTS

PRIVATE PROPERTY RIGHTS

Property insurance costs are rising at alarming levels in many parts of Florida. These increased costs are making insurance unaffordable for many Floridians and the problem will likely get worse unless action is taken. Florida REALTORS® supports sensible legislation that seeks to reduce occurrences of unnecessary litigation while ensuring homeowners are treated fairly by insurance companies.

WATER QUALITY & ENVIRONMENTAL FUNDING Water is the lifeblood of all Florida residents and visitors to our state. It forms the foundation of our communities and must be protected. Florida REALTORS® will continue to advocate for Florida’s natural resources and a pristine environment. We will also encourage all stakeholders, including the state of Florida, to do their part to help solve environmental problems. Florida REALTORS® continues its support of state funding to help preserve the Everglades. Florida REALTORS® supports legislation that addresses the escalating problem of rising sea levels in Florida’s coastal communities. Florida REALTORS® encourages the Florida Legislature to rely on scientific and engineering expertise to highlight vulnerable areas, prioritize critical work projects and create a long-term plan that can address these important environmental issues. 16 | ELEVATE [ APRIL 2021 ]

The Internet has made it easier for homeowners to rent their property, expanding housing options for individuals who live in, or travel to, Florida. Many local governments have enacted new ordinances designed to discourage property owners from exercising their right to rent their property. State and local Realtor® associations will continue to take action to protect private property rights.

BUSINESS RENT TAX The state sales tax rate on business rent currently stands at 5.5%. This tax creates a financial burden for any business that leases space. Lowering the business rent tax will provide Florida businesses with the capital to expand, hire more employees, improve benefits, raise salaries, or invest in their business in other ways. Florida REALTORS® is grateful for the support of the 2017, 2018, and 2019 Florida Legislatures, which have lowered the state sales tax rate on commercial space to 5.5%. These three consecutive years of rate cuts have given Florida businesses the financial resources they need to grow their companies and enrich their communities. Florida REALTORS® will continue to advocate for further reductions to this tax, which would provide businesses with some measure of relief as they work to stay open and eventually recover from the current crisis. •

MARKET ANALYSIS

Low Inventory Drives Up Home Prices in February 2021 By: Gina White, RASM Communications and Marketing Director

ebruary’s housing market in Sarasota and Manatee counties showed more closed sales, more cash sales, higher median prices, and limited inventory when compared to a year ago. According to data from Florida REALTORS® and compiled by the REALTOR® Association of Sarasota and Manatee (RASM), closed sales increased year-over-year by 27.6 percent across the two-county market, representing a combined total of 2,182 sales in February. Single-family home sales increased by 34.5 percent to 831 sales in Sarasota County and by 12.8 percent to 536 sales in Manatee County. In Sarasota, condo sales increased year-over-year by 37.8 percent to 518 sales. In Manatee County, condo sales increased by 23.2 percent to 297 sales. “As long as there are more buyers than sellers in our market - and right now that imbalance is as high as it’s ever been - prices will continue to rise. Sellers are often able to choose from multiple offers with great terms while buyers are struggling to find traction with immense competition,” said 2021 RASM President Alex Krumm, Broker Owner of NextHome Excellence. “Rising interest rates and a seasonal feeding frenzy have created significantly more demand for homes than the number of homes that are actually for sale, but all markets turn eventually: regardless, it is clear that now is one of the best times in history in which to sell a home.” Prices for both single-family homes and condos rose year-over-year in February. In Manatee County, the median price for single-family homes increased yet again to a new record price of $380,000, a 16.9 percent increase from this time last year. For Manatee condos, the median sales price increased by 9.5 percent to $230,000. In Sarasota County, the median price for single-family homes was $359,900 in February, a year-

over-year increase of 18.4 percent, and condo prices rose by 9.1 percent to $283,750. With increased buyer demand and many multiple offer situations, cash sales continue to rise in both counties. For single-family homes, cash sales increased by 54 percent in Sarasota and by 10.5 percent in Manatee. Condos also saw an increase in cash sales with a 38.5 percent increase in Sarasota and a 21.1 percent increase in Manatee. “With multiple offers on most homes right now, the trend of cash purchases will continue because they don’t require an appraisal and there’s no financing contingency,” added Krumm. “Cash sales may also be rising because interest rates have been so low over the past few years that even buyers who could pay cash were choosing to get mortgages. But, with interest rates increasing again, they’re instead choosing to purchase in cash.” New listings decreased year-over-year in February for both property types. Single-family home new listings decreased by 8.4 percent in Manatee and by 12.9 percent in Sarasota. Condo new listings decreased by 3.4 percent in Manatee and by 5.9 percent in Sarasota. The total number of properties that went under contract in February increased by 20.8 percent from last year. For single-family homes, pending sales increased by 11.6 percent in Manatee and by 11.7 percent in Sarasota. Condo pending sales increased by 45.8 percent in Manatee and by 33.8 percent in Sarasota. On the supply side, the combined inventory of both property types in the two counties decreased by 69.2 percent from this time last year. The singlefamily home supply fell below one month in February, now sitting at 0.9-months in both counties. Condo inventory also decreased by 75.6 percent to 1.1-months in Manatee County, and by 66.7 percent to a 1.5-month supply in Sarasota. 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 | 17

Monthly Market Summary - February 2021 Single Family Homes Sarasota County February 2021

February 2020

Percent Change Year-over-Year

831

618

34.5%

365

237

54.0%

Median Sale Price

$359,900

$304,000

18.4%

Average Sale Price

$538,892

$420,802

28.1%

$447.8 Million

$260.1 Million

72.2%

98.8%

96.3%

2.6%

Median Time to Contract

17 Days

37 Days

-54.1%

Median Time to Sale

65 Days

82 Days

-20.7%

1,030

922

11.7%

848

974

-12.9%

1,753

1,271

37.9%

Inventory (Active Listings)

759

2,667

-71.5%

Months Supply of Inventory

0.9

3.6

-75.0%

Closed Sales Paid in Cash

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

New Pending Sales New Listings Pending Inventory

1,200

2017

2018

2019

2020

Closed Sales

1,000 800 600 400 200

Median Sale Price

0 $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

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

2017

2018

2019

2020

18 |byELEVATE [ APRIL 2021 ] Produced Florida REALTORS® 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 Monday, March 22, 2021. Next data release is Thursday, April 22, 2021.

Monthly Market Summary - February 2021 Single Family Homes Manatee County February 2021

February 2020

Percent Change Year-over-Year

536

475

12.8%

169

153

10.5%

Median Sale Price

$380,000

$325,000

16.9%

Average Sale Price

$553,312

$407,940

35.6%

$296.6 Million

$193.8 Million

53.1%

99.0%

96.2%

2.9%

Median Time to Contract

13 Days

47 Days

-72.3%

Median Time to Sale

59 Days

90 Days

-34.4%

New Pending Sales

780

699

11.6%

New Listings

669

730

-8.4%

1,297

968

34.0%

Inventory (Active Listings)

567

1,934

-70.7%

Months Supply of Inventory

0.9

3.4

-73.5%

Closed Sales Paid in Cash

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

Pending Inventory

1,000

2017

2018

2019

2020

Closed Sales

800 600 400 200

Median Sale Price

0 $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

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

2017

2018

2019

2020

myRASM.com | 19

Produced by Florida REALTORS® 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 Monday, March 22, 2021. Next data release is Thursday, April 22, 2021.

Monthly Market Summary - February 2021 Townhouses and Condos Sarasota County February 2021

February 2020

Percent Change Year-over-Year

518

376

37.8%

306

221

38.5%

Median Sale Price

$283,750

$260,000

9.1%

Average Sale Price

$558,681

$433,473

28.9%

$289.4 Million

$163.0 Million

77.6%

97.6%

96.1%

1.6%

Median Time to Contract

25 Days

46 Days

-45.7%

Median Time to Sale

67 Days

91 Days

-26.4%

New Pending Sales

701

524

33.8%

New Listings

507

539

-5.9%

1,179

829

42.2%

Inventory (Active Listings)

614

1,626

-62.2%

Months Supply of Inventory

1.5

4.5

-66.7%

Closed Sales Paid in Cash

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

Pending Inventory

600

2017

2018

2019

2020

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

$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

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

2017

20 | ELEVATE [ APRIL 2021 ]

2018

2019

2020

Monthly Market Summary - February 2021 Townhouses and Condos Manatee County February 2021

February 2020

Percent Change Year-over-Year

297

241

23.2%

161

133

21.1%

Median Sale Price

$230,000

$210,000

9.5%

Average Sale Price

$272,932

$245,303

11.3%

$81.1 Million

$59.1 Million

37.1%

97.1%

95.6%

1.6%

Median Time to Contract

34 Days

39 Days

-12.8%

Median Time to Sale

75 Days

84 Days

-10.7%

New Pending Sales

465

319

45.8%

New Listings

345

357

-3.4%

Pending Inventory

648

393

64.9%

Inventory (Active Listings)

303

1,053

-71.2%

Months Supply of Inventory

1.1

4.5

-75.6%

Closed Sales Paid in Cash

Dollar Volume

Closed Sales

Med. Pct. of Orig. List Price Received

400 350 300 250 200 150 100 50 0

2017

2018

2019

2020

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

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

2017

2018

2019

2020

myRASM.com | 21

COMMERCIAL REAL ESTATE ALLIANCE

What is the CREA Friday Morning Meeting all About? By: Ken Hughes, CNK Realty

rior to March 2020, every Friday morning a large group of Realtors® and related affiliates gathered for a roundtable discussion about commercial properties, listings, client needs, and business services. Accompanied by bagels, donuts, and coffee of course. This is the “Friday Morning Pitch Session” attended by professionals who are members of the Commercial Real Estate Alliance (CREA) and involved in some aspects of commercial real estate in our area. The meetings are commonly attended by:

Commercial real estate brokers Commercial bankers General contractors Insurance providers Engineers Construction Suppliers Real estate attorneys Commercial property inspectors And many others that are directly involved in commercial real estate During these meetings, each person takes just a couple of minutes to introduce themselves and discuss their topic. If it is a Realtor®, they often bring to light new listings or needs they have for a client. Sometimes it’s to raise a question about an issue they are faced with and get input from others. If it is an affiliate’s turn, they take the time to briefly describe their business and assets they can provide to Realtors® and their clients. Over the past year, these meetings have been held virtually and were effective, however, I think we can all agree that open discussion and face-to-face meetings are extremely beneficial to our industry. Recently the meetings have resumed in person at RASM South, with precautions. Everyone must wear masks at all times, no refreshments, socially distanced 22 | ELEVATE [ APRIL 2021 ]

and you must register prior to the meeting to ensure capacity is not exceeded. Currently, there is a limit of 50 attendees each week. Registration is through the RASM website.

CHECK IT OUT If you haven’t been to a CREA Friday meeting, you should. Deals get done there, relationships are built, knowledge is gained and again... deals get done! If you are not already a member of CREA, please feel free to register for your first meeting without being a member. When you see the benefit of attending and what CREA can do to help your business, it’s only $50 a year to join and enjoy all of the benefits like the monthly educational meetings, networking, and annual events that are held by CREA to benefit local charities. •

UPCOMING MARKETPLACE MEETINGS FRIDAY, APRIL 16 9:00 a.m.

CREA Marketplace [ South ]

FRIDAY, APRIL 23 9:00 a.m.

CREA Marketplace [ South ]

FRIDAY, APRIL 30 9:00 a.m. CREA Marketplace [ South ]

RASM NEWS

New Team Member

ASM is happy to welcome our new team member, TJ Baxter, Video Coordinator. TJ is originally from Raleigh, North Carolina. However, he attended college in central Florida, and he feels like a native in the Sunshine State. He spent the last seven years working in video production for parent companies / corporate headquarters. As the new RASM® video coordinator, TJ will coordinate video and marketing to promote events, and help support video marketing initiatives. He will be the resource for all things video at RASM® as we seek to fully utilize the potential of our internal video studio. TJ has a Bachelor of Arts in Communications and Film from Southeastern University in Lakeland, Florida. He enjoys watching YouTube and movies. He collects retro video games and has a special interest in 80’s electronics and culture. TJ is a self-proclaimed coffee addict and was excited to see RASM’s Keurig. Welcome to RASM, TJ! •

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 • Mul-T-Lock • Medeco Largest Selection of Key Blanks in the Area Chamber Member since 1964 Associated Locksmiths of America Safe & Vault Technicians Association

ANNUAL CREA HOSTED BY:

BENEFITING:

FRIDAY, APRIL 9

9 A.M. - 12:30 P.M. | SARASOTA GUN CLUB | NOKOMIS, FL $400 FOURSOME | $120 INDIVIDUAL | REGISTER AT MYRASM.COM/SPORTINGCLAYS THANK YOU GOLD SPONSORS

myRASM.com | 23

RASM NEWS

Employee Anniversaries

ASM happily recognizes the workplace anniversaries of our professional staff. Jessica Montague, Member Services Manager, celebrated her sixth anniversary with RASM in March. 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 Studios, concerts and spending time with her two beautiful and energetic kids.

Denise Ricciotti, Professional Development Manager, celebrated her one-year anniversary with the association last month. Denise works to bring new and exciting education, training and programming to our members. She also works as the liaison to several committees, including Professional Development, Property Management, the Leadership Institute, Global Business Council, and the Realtor® Attorney Joint Committee. In her free time, Denise enjoys exploring local beaches, reading, and working with charities. She also enjoys spending time with her husband, two daughters, and their rescue dog, Jaxson.

Leanne Eros, Accounting Manager, celebrates her third anniversary with the Association in April. Leanne is responsible for the daily administering and reconciling of cash. She also reconciles RASM’s monthly banking accounts and investment accounts. In addition, she prepares monthly financials, recaps, charts, and distribution to the Finance Committee as well as additional reports to the CEO and Treasurer. Leanne serves as the Staff Liaison to the Finance Committee along with Liaison between the Association and all banking, investment, insurance, and 401k accounts. She also oversees the annual yearend closing, audit, and dues billing. Leanne is a dog lover and enjoys spending time with her best friend, Lily, a West Highland White Terrier.

Cynthia Small, Member Services Coordinator in the RASM North office, celebrated her third anniversary with RASM in March. Cynthia processes membership applications and provides customer service to members such as answering membership questions, office transfers, assisting with Supra Ekeys, lockboxes, and store purchases. Cynthia lives in Bradenton with her husband, Greg, and their dog, Chloe. She is looking forward to the end of COVID restrictions so that she can once again enjoy her love of travel. She also enjoys spending time at the beach, growing orchids, reading, and art. •

24 | ELEVATE [ APRIL 2021 ]

GLOBAL BUSINESS COUNCIL

Buying a Home in Ireland vs the U.S. A Peak at the Cultural Differences By: Glenda Jane Matheson, Realtor®, Partner with Realty Partners LLC

uying a home in the United States is quite a different experience than buying a home in a European Nation. The process in Ireland, for example, has several differences that a Realtor® will need to be familiar with before proceeding with the transaction. In fact, agents in Ireland are not referred to as Realtors®, they are called real estate agents. In addition, Ireland requires a different set of procedures, and even the key players are different.

IN THE USA, WE WORK WITH:

Homebuyer and seller. Listing agent (represents the seller). Buyer’s agent (represents the buyer). Mortgage broker or lender. Home inspector and appraiser. Escrow company and title company.

IN IRELAND, YOU WORK WITH:

Homebuyer. Estate agent/auctioneer. Surveyor/engineer (in Ireland, an attorney is called a Solicitor.)

Mortgage broker or lender. The buyer’s solicitor. The seller’s solicitor (the seller is referred to as a vendor.)

HOME SEARCH AND GAINING ACCESS Ireland does not have a universal MLS system. Instead, they use different websites for home searches such as https://www.daft.ie. A Realtor® in Ireland needs to familiarize themselves with the many sites so that they can provide the best options to their clients. In the U.S., the buyer’s agent is able to access any home a buyer is interested in viewing and can schedule viewings of multiple homes in one day. However, the Irish home buyer does NOT have their own estate agent. They arrange and coordinate viewings themselves. Homes are listed by an estate agent/auctioneer whose loyalty is to the home seller. A buyer has to contact the seller’s agent to show them a property, so the process can be very daunting for a prospective home buyer. In addition, an Irish real estate agent will only earn 1 to 2 percent commission on a transaction, and a deal can take up to 6 months to close.

MAKING AN OFFER ON A HOME In the U.S., an offer must be accompanied with a pre-approval for the appropriate loan unless it is a cash sale, then Proof of Funds (POF) is required. In Ireland, the process is somewhat similar in this case. The buyer is required to provide proof to the seller that they have their financing secured or provide POF.

WHEN IS AN OFFER LEGALLY ACCEPTED? In America, if both parties agree and sign the offer, then they have a legally binding contract. When there is a negotiation on terms (for example during an inspection period) these may change the original offer. In Ireland, the buyer and seller only have a legally binding contract to buy/sell just before closing when contracts are exchanged and signed by both parties. Although, the “sale agreed” may be on the sign at the start of the buyer/seller “agreement,” there is nothing legally binding with that initial agreement. The seller is completely free to accept a better offer from another buyer all the way up to closing when contracts are exchanged, which can be 6 weeks or months after the sale was agreed, even if it is a cash sale. The actual contract is drawn up by the seller’s solicitor (not by the estate agent) who sends duplicate (unsigned) copies to the buyer’s solicitor. The buyer then signs both copies of the contract, both of which are sent back to the seller’s solicitor. This is legally considered as an offer to buy the home. The buyer is required to pay 10% at the signing of the contract less the booking deposit made at the offer/ sale agreed stage. Once the home seller signs both copies of the contract and delivers one copy back to the buyer’s solicitor, then the seller has legally agreed to sell the home to the buyer. In the U.S., any offer should be contingent on a property survey. In Ireland, the seller is under no obligation to disclose defects in a property. Once your solicitor has checked the contract for sale, the Realtor® will sign it and forward it to the seller’s solicitors. Now legally the seller has agreed to sell their property once the contract has been signed by both parties.

KEY REMINDERS The booking deposit is refundable up to the signing of the contract for sale. Until the seller has signed the contract, they can still change their mind. A 1% stamp duty tax on your new home up to $1 million, and 2% on any value above $2 million. Without this payment, the deeds cannot be registered. Once the sale has been completed, the deeds, showing new ownership and mortgage details (if applicable), must be registered with The Property Registration Authority (PRA). myRASM.com | 25

YOUNG PROFESSIONALS NETWORK

Spring Clean Your Data By: Ariana Gillooly, Regional Account Manager, GIT Florida Title Services

e have made it to April, ladies, and gentlemen! This means it’s time to say goodbye to the cold weather and hello to the Florida sunshine, birds, and flowers. Let’s take in all the beauty Mother Nature has to offer. Now is the perfect time to spring clean all your social media accounts, CRM lists, and cell phones.

KEEPING INFORMATION CURRENT Throughout the year we meet and exchange contact information with many business professionals and add them to our social media, CRM, and phone contacts. Searching for people on social media has become second nature to us all. We do this before we go into meetings, at events, open houses, etc. So, it’s important that your profile is current and contains accurate data for your audience. If you’ve had the same profile photo for a year now, it’s time to replace it with a beautiful, new headshot. You should also update your cover photo with a highquality image that appeals to you, so others can get a more personable feel for who you are and what you enjoy. Make sure your “About” section has up-to-date information on things you want others to know about you (personally or professionally). These few simple tips will revamp your entire page.

VERIFY YOUR DATA REGULARLY At least once a year, you should check to see if you have bad data in your CRM. Bad data can include misspelled names, outdated information, duplicates, or missing data. These errors may seem small, but they can affect your ROI in the longterm. It can also create ineffective marketing campaigns, make marketing optimization difficult, and waste time reaching out to the incorrect prospects. Taking a few hours to go through your CRM to double-check that you have the accurate information for all contacts will only make you more successful.

26 | ELEVATE [ APRIL 2021 ]

DE-CLUTTERING YOUR CELL PHONE Let’s move right along to the “adult binky” – cell phones. We all have one if not two cell phones these days and it’s easy to get distracted by them. The least we can do is try to organize and delete items we may not need on our devices anymore. Whether it’s certain apps we never use or contacts we don’t interact with anymore. If you have an iPhone, it offers an automatic feature that can offload unused apps when storage gets low, this could help with the clutter. Once you have cleaned up your contact list, remember when inputting a new contact to add details to the entry for future reference. I hope these few tips help you with the spring cleaning of your data! •

W I N N E R O F 2 4 AWA R D S I N C L U D I N G B E S T O V E R A L L C O M M U N I T Y

The Lake Club was a big winner in this year’s MSBIA Parade of Homes! From curb appeal and amenities to spectacular floor plans, kitchens and master suites, The Lake Club and its builders have been recognized for excellence. Tour our award-winning models and find your client’s dream home in the most coveted village in Lakewood Ranch.

From the $800s to over $3 million

MINIATURE GOLF TOURNAMENT SCRAMBLE FOR SPRINGBOARD RASM YPN is hosting a Putt-Putt Tournament to support Everyday Blessings Springboard Program. Cost includes mini golf equipment, 18 holes, a drink ticket, & food. DATE

TICKETS

THURSDAY, APRIL 22

$30 INDIVIDUAL $100 FOURSOME

5 - 8 P.M. | EVIE’S ON BEE RIDGE SHOTGUN START AT 5:30 P.M.

$20 NON-PUTTER

MYRASM.COM/PUTTPUTT myRASM.com | 27

RASM NEWS

RASM Recognizes Joshua Morris as ‘Humanitarian’ for Quarter 1

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. The RASM Community Outreach Committee has posthumously recognized Joshua Morris, who was a Realtor® with NextHome Excellence, as the RASM “Humanitarian of the Quarter” recipient for the First Quarter of 2021. Tragically, Josh passed away unexpectedly late November 2020. He would have been 36 years old the day after Christmas. He was chosen to receive this honorary recognition for his significant contributions to the community, particularly his involvement his “Thanks for Giving Trees” fundraiser. Josh was known locally by many for his good deeds and his selfless acts of philanthropy. He had a strong desire to help those in need. His heart went out to those who were in need, especially during this time of year. As a father of four, he knew firsthand how expensive and stressful the holiday season can be. In fact, several years ago, Josh was experiencing financial difficulties and was unable to provide a Christmas tree for his own family. Someone found out about his situation and anonymously dropped off a Christmas tree on the family’s front porch. That act of kindness profoundly touched Josh, and it sparked a passion in him to do the same act of kindness for as many families as he could. Josh began his own behind-the-scenes operation to provide Christmas trees for families in need. For several years, Josh set money aside during the year to help those in need, especially around Christmastime. He was a Christian man of strong faith, and serving others without personal recognition, was a key aspect of his character. He kept his acts of kindness a secret, never wanting to bring attention to himself. However, he did share his personal mission with his close friend, Alex Krumm. “One day, Josh happened to mention to me his passion for providing Christmas trees to families in need, and once I heard about it, there was no going back,” said Alex Krumm, Broker with NextHome Excellence and 2021 RASM President. “I was so excited to hit the ground running with this and get more people involved. I knew that with the power of a group dynamic, we could take his humble operation and make it something huge. Josh was so excited to see the ripple effect that took place – so many families would benefit from the generosity of our community.” The “Thanks for Giving Trees” program was now underway, with a goal of raising enough funds ($5,000) for the purchase of 100 real Christmas trees with stands. Through donations from local businesses and individuals, they ended up beating their goal and were able to bless 126 families with a Christmas tree.

28 | ELEVATE [ APRIL 2021 ]

The team reached out to local schools, and churches to identify those in need. On December 5, 2020, NextHome Excellence set up a tree lot filled with the 6-to-8-foot Christmas trees, along with free hot cocoa, festive music, roasted marshmallows, and pictures with Santa. Volunteers aided families in picking out trees, wrapping them, and loading them on the cars. It was a beautiful day showing how the generosity of many can make a real difference in someone’s life. Sadly, Josh passed away shortly before the event and did not have the chance to see firsthand how many people he would impact. However, his fellow volunteers pressed on, as they knew Josh would have wanted. Thanks to Josh’s love for others, organizers are turning Josh’s legacy into an annual event, with the intent to go nationally as well. “I am so proud of the ‘Thanks for Giving Trees’ event, and I know Josh would have been as well,” said Alex. “He would have been so overwhelmed at the event turnout and thrilled that we are continuing this program on a larger scale.” “Josh was one of a kind. When he went to work, he naturally gravitated to those in need. He chose to work in real estate so that he could find those hard deals and make them work for the families who needed the help. He set an example for all of us in so many ways. I’m grateful to continue the ‘Thanks for Giving Trees’ program so that his legacy of kindness will live on,” added Alex. RASM sincerely thanks Josh Morris, NextHome Excellence, and the many volunteers that made the “Thanks for Giving Trees” event a success. For more information on the annual event, visit https:// thanksforgivingtrees.com. Josh left behind a beautiful wife; Hannah Morris, and four children under the age of 6; Levi, Anya, Bella, and Samuel. To help support the family, please consider a donation at https://www. gofundme.com/f/help-for-hannah-morris-and-family. •

NEIGHBORHOOD SPOTLIGHT

You Can Own Paradise, too… By: Corina Liranzo, Realtor®, EXP Realty

f only the bankrupt Florida Mortgage Company in 1885 knew their 50,000acre estates would turn into a slice of paradise, which anyone can own today. From $90,000 condominiums to $10.5 million dollar estates, there are over 20 different styles of neighborhoods in Palmer Ranch, Sarasota, FL. Even for Chicago’s wealthiest businesswoman, Bertha Palmer, and Florida’s first “snow-bird,” there was no place on earth that compared to Palmer Ranch. In 1910, she purchased 80,000 acres for farming and built a permanent home in Palmer Ranch at what is now known as the Historic Spanish Point. Palmer Ranch’s rich diversity appeals to many different people. Whether you’re a young growing family looking for a first home or you’re soon to retire and want a second home someplace warm, Palmer Ranch is planned out to accommodate just about anyone. Each of the 20 neighborhoods is conveniently

located near numerous thriving local businesses and recreational amenities. From sprawling golf courses and shopping malls to some of the highest-rated schools, and only a short 6-minute drive to America’s #1 beach, Siesta Key. Palmer Ranch is Sarasota’s best-kept secret. On average in the month of February 2021, homes in Palmer Ranch sold at 1.5 percent lower than the asking price. The median list price was $402K. Nevertheless, with over 20 different neighborhoods in Palmer Ranch, you can find a home suitable for any budget. Currently, on the market, we have a very diverse portfolio of properties. For example, a one-bedroom, one-bathroom condo is listed at $90K, while a fourbedroom three-bathroom, single-family home is on sale for $1.3 million. We also have 2,000 square foot manufactured homes that are selling for $30K with all updated features, while waterfront estates are listed at $10.5 million, complete with a boat dock and fully furnished interiors. The property varieties are vast and accommodating to anyone who wants their own piece of paradise. •

myRASM.com | 29

APRIL 2021

CALENDAR OF EVENTS FRIDAY, APRIL 2

FRIDAY, APRIL 16

WEDNESDAY, APRIL 28

All Day

RASM Closed for Good Friday

9:00 a.m.

CREA Marketplace [ South ]

9:00 a.m.

9:30 a.m.

Time Management (iCE) [ Online ]

9:00 a.m.

Accredited Buyer’s Representative (ABR) (Day 2 of 2) [ Online ]

BOOST: Building Your CRM [ Online ]

9:00 a.m.

GREEN Designation Day (Day 2 of 2) [ Online ]

TUESDAY, APRIL 6 10:30 a.m. FIRPTA for Realtors®

[ Online ]

MONDAY, APRIL 19 1:00 p.m.

New Member Orientation [ Online ]

WEDNESDAY, APRIL 7 8:30 a.m.

YPN Coffee Talk: Transactional Safety [ South & Online ]

TUESDAY, APRIL 20

9:00 a.m.

BOOST: Running Your Business as a Business [ Online ]

11:30 a.m.

9:30 a.m.

You Gotta Go! Tenant Evictions [ Online ]

10:30 a.m. Non-Resident Issues and Liabilities [ Online ] 1:00 p.m. Clarifying Service Animals [ Online ]

CREA Member Meeting [ Online ]

FRIDAY, APRIL 30 WEDNESDAY, APRIL 21

THURSDAY, APRIL 8

THURSDAY, APRIL 29

9:00 a.m.

BOOST: The Art of Comps [ Online ]

9:00 a.m.

CRB: Recruiting for Success [ Online ]

9:00 a.m. CREA Marketplace [ South ]

TUESDAY, MAY 4 10:00 a.m. Who Owns This Property [ Online ]

FRIDAY, APRIL 9 9:00 a.m.

CREA Sporting Clays Tournament [ Sarasota Gun Club ]

9:00 a.m.

Understanding Fair Housing and Implicit Bias [ Online ]

THURSDAY, APRIL 22

WEDNESDAY, APRIL 14 9:00 a.m.

BOOST: Marketing Yourself and Open Houses [ Online]

1:30 p.m.

Be the Change Fair Housing and You [ Online ]

THURSDAY, APRIL 15 9:00 a.m.

2:30 p.m.

Global Spotlight Series: Columbia [ Online ]

5:00 p.m.

YPN Putt-Putt Pour Miniature Golf [ Evie’s on the Range ]

FRIDAY, APRIL 23 9:00 a.m.

CREA Marketplace [ South ]

1:00 p.m. Goal Setting [ Online ]

THURSDAY, MAY 6 1:00 p.m. iCE Florida Housing Trust [ Online ]

FRIDAY, MAY 7 9:00 a.m. CREA Marketplace Meeting [ South ]

TUESDAY, APRIL 27 9:00 a.m.

Intro to Contracts [ Online ]

9:00 a.m.

GREEN Designation Day (Day 1 of 2) [ Online ]

Accredited Buyer’s Representative (ABR) (Day 1 of 2) [ Online ]

Advanced registration is requested. See the latest event calendar at: myrasm.com/calendar

Stand StandOut OutFrom Fromthe theRest Rest

® ® With With NAR’s NAR’s Accredited Accredited Buyer’s Buyer’s Representative Representative (ABR (ABR ) Designation ) Designation Course Course

WEBINAR APRIL 15 & 16 | 8:30 AM -have 5what PM |itONLY $60! Do Do youyou have what it takes takes to be to be one one of of

Stand Out From the Rest 30 | ELEVATE [ APRIL 2021 ]

® ® ThisThis two-day two-day course course is the is first the first stepstep towards towards becoming becoming an ABR an ABR designee. designee. It will It will teach teach you:you: • Methods, • Methods, tools,tools, and and techniques techniques to provide to provide the support the support and and services services thatthat buyers buyers want. want. • How • How to increase to increase youryour revenue revenue and and referrals referrals and and reduce reduce youryour risk.risk. ® ® WithWith specialized specialized education education and and exclusive exclusive member member benefits, benefits, ABRABR designees designees are equipped are equipped to guide to guide homebuyers homebuyers through through everyevery stage stage of of

thethe best? best? Register Register forfor thethe course! course!

UPCOMING CLASSES UPCOMING CLASSES

YOU GOTTA GO! TENANT EVICTION

Learn more at myrasm.com/calendar to register.

TIME MANAGEMENT Friday, April 2

9:30 a.m. - 12:30 p.m.

[ Online ]

Better time management is one of the keys to help you meet both your own goals, and the goals of your company. Take this course and learn ways to impart the skills you need in order to practice effective time management. Members $10. 3 CE HRS.

FIRPTA FOR REALTORS® Tuesday, April 6

10:30 - 11:30 a.m.

[ Online ]

YPN COFFEE TALK | TRANSACTIONAL SAFETY: HOW TO NOT GET SUED Wednesday, April 7 8:30 a.m. – 9:30 a.m. [ South & Online ]

Whenever large amounts of money are switching hands and highly personal information is involved, a high-stress environment naturally forms during a real estate transaction. The more you can mitigate that stress, the more successful you will be. Natasha Selvaraj will share some tips and other things to be cautious about to protect yourself and your client during a real estate transaction. Members Free.

BOOST: RUNNING YOUR BUSINESS AS A BUSINESS Wednesday, April 7

9:00 a.m. – 5:00 p.m.

[ Online ]

Learn tax strategies, how to decide to list your business as a sole proprietorship, time management skills, creating business plans, and much more. Stay after this BOOST class to ask questions and network in our Mastermind virtual breakout rooms! Members Free.

Thursday, April 8

9:30 a.m. - 12:30 p.m.

[ Online ]

Not all tenants work out to be wonderful. Take this class and explore some of the reasons that may cause an eviction and learn what the legal eviction process is. Members $15. 3 CE HRS.

BOOST: MARKETING YOURSELF & OPEN HOUSES Wednesday, April 14

9:00 a.m. – noon

[ Online ]

This class prepares you for hosting an effective open house, including farming techniques and social media advertising to get buyers in the door. Stay after this BOOST class to ask questions and network in our Mastermind virtual breakout rooms! Members Free.

BE THE CHANGE: FAIR HOUSING AND YOU Wednesday, April 14

1:30 a.m. - 3:30 p.m.

[ Online ]

The purpose of this class is to provide real estate professionals working in today’s diverse real estate environment with the knowledge and information they need to understand the importance of fair housing laws and insure they are responsibly practicing real estate in a nondiscriminatory fashion. Members $15. 2 CE HRS.

ACCREDITED BUYER’S REPRESENTATIVE (ABR) Thurs., April 15 - Fri., April 16

8:30 a.m. - 5:00

[ Online ]

The Accredited Buyer’s Representative (ABR®) designation is for real estate buyer agents who focus on working directly with buyer-clients at every stage of the home-buying process. Members $60. 8 CE HRS.

BOOST: THE ART OF COMPS Wednesday, April 21

9:00 a.m. - noon

[ Online ]

Learn how to utilize the tools available to you so you can prepare an accurate price for your listings. CMAs are NOT appraisals! Stay after this BOOST class to ask questions and network in our Mastermind virtual breakout rooms! Members Free. [ Continued on page 32 ]

Designation or Certification Courses [South Office ] 2320 Cattlemen Road, Sarasota, FL 34239

[ Goodwill Manasota ] 2705 51st Ave E, Bradenton, FL 34203

myRASM.com | 31

UPCOMING CLASSES CONTINUED BOOST: BUILDING YOUR CRM Wednesday, April 28

9:00 a.m. - noon

ICE FLORIDA HOUSING TRUST [ Online ]

Get to know some of the Client Relationship Management platforms on the market and lead generation strategies. Knowing how to generate and organize leads is imperative for a successful REALTOR®. Stay after this BOOST class to ask questions and network in our Mastermind virtual breakout rooms! Members Free.

NON-RESIDENT ISSUES AND LIABILITIES Thursday, April 29

10:30 - 11:30 a.m.

[ Online ]

Prepare your foreign customers on their new real estate investments and learn what they can do to protect themselves. Members Free.

CLARIFYING SERVICE ANIMALS Thursday, April 29

1:00 - 4:00 p.m.

[ Online ]

Have you ever been in the situation where tenants are looking to rent a house with a no pet policy, or you have a buyer looking to purchase a condo in an association with a no pet policy, or maybe you had a short-term tenant bring their animal on vacation where no pets are allowed? If you haven’t chances are you will! Members $15. 3 CE HRS.

WHO OWNS THIS PROPERTY Tuesday, May 4

10:00 a.m.

[ Online ]

Chances are if you haven’t experienced a seller who is getting a divorce, recently passed away, or has their ownership in a trust, you will soon. Florida is a retirement center for many throughout the world, so it’s common to run across many forms of ownership. In addition, circumstances arise for the need to sell a house in many divorce cases. But who really owns the house? And what rights do the survivors and spouses have? Let’s dive deeper and explore. $10 Members/$20 Non-Member. 2 CE HRS.

GOAL SETTING Tuesday, May 4

1:00 p.m.

[ Online ]

Most Realtors® know how important goals are. Many people, however, think more about their goals loosely, without strategic approach to exactly what they mean or how they can be attained. This course is designed to help Realtors® truly understand what a goal is – how is it defined? What does it mean? It will then guide students towards calculating realistic yet optimistic goals for themselves. Finally, it will prepare and motivate them to structure their day around their goals, which will allow them to prioritize and work smarter. $15 Members/$25 Non-Member. 3 CE HRS.

32 | ELEVATE [ APRIL 2021 ]

Thursday, May 6

1:00 p.m.

[ Online ]

When it comes to affordable housing, Florida enjoys access to the Sadowski State and Local Housing Trust Fund. The 2020 Florida Legislature is working to appropriate Housing Trust Funds for housing in Florida. Community leaders and residents have asked for help with soaring housing costs and the shrinking supply of affordable housing. This course will outline the need for affordable housing in Florida and highlight the importance of the Sadowski State and Local Trust funds in meeting this need. $10 Member/$20 NonMember. 3 CE HRS.

MLS REQUIRED CLASSES In-person MLS training classes have been canceled at this time. Live webinars are available for required and elective classes. If you prefer to complete your required education by taking a self-paced online class, please visit learn. stellarmls.com.

MLS BASIC TBD

9:00 a.m. – noon

[ Online ]

This required class teaches every new Stellar MLS subscriber the basics of how to use the Matrix MLS System to power their real estate business. Topics include navigating the system, setting up a property search, direct and auto emails, managing contacts, and personalizing the Matrix system.

MLS COMPLIANCE 101 TBD

1:00 – 2:15 p.m.

[ Online ]

A key purpose of the MLS is to provide real estate brokerages a mechanism to compensate each other for bringing buyers to each other’s listings. In order for this to work, it is critical that we share accurate data, and additionally, enter listings in a way to maintain the cooperative nature of the MLS. This required class for new subscribers reviews the MLS comprehensive Rules & Regulations to ensure that all users have access to the best data possible.

MLS ADDING & EDITING LISTINGS TBD

2:45 – 3:45 p.m.

[ Online ]

This class is mandatory for agents who will be adding and modifying listings in the MLS. We will walk through the process of gathering listing data, entering listings into the MLS systems, adding photos and attachments, and modifying listings. We will also share valuable tips and techniques in the listing entry process. •

PROFESSIONAL DEVELOPMENT

Brush Up on Diversity Education By: Denise Ricciotti, RASM Professional Development Manager

ll throughout your real estate career, you will most certainly deal with buyers and sellers from a variety of backgrounds. During Fair Housing month, RASM is dedicated to providing diversity education to our members. Check out the RASM calendar for classes to help broaden your knowledge of cultural diversity and fair housing.

Back to Basics with BOOST Whether you’re new, or need a refresher, this series of classes takes you through the basic fundamentals of real estate, with practical training for day-to-day business.

REALTORS® NEWLY DESIGNATED & CERTIFIED

CLASS 1 | APRIL 7

Accredited Buyer’s Representative (ABR®) James Joseph Brock, Keller Williams On The Water Jeffrey Kent O’Berry, Coldwell Banker Realty At Home with Diversity (AHWD) Teri Berket, Skyscrapers & Sandcastles Inc Guadalupe Cardenas, EXP Realty LLC Brittany Danielle Geiman, Keller Williams Realty Select Vitino Goffredo, Keller Williams On The Water Timothy P. Kennedy, Coldwell Banker Realty Glenda J. Matheson, Realty Partners LLC James Kevin Mulvey, NextHome Reverie e-PRO® Diane Marie Ragsdale, Coldwell Banker Realty Graduate, REALTOR® Institute (GRI) Katherine Baumann, Debbie Hering Realty & Assoc. Molly Ann Clothier Atwood, Michael Saunders & Company Tracy Jones, RE/MAX Platinum Realty Eliezer Rivera, Your Home Plus Corporation Military Relocation Professional (MRP) Linda E. McCown, Limbo Company Sarasota Assoc Resort & Second Home Property Specialist (RSPS) Kimberly Ann McGrath, Coldwell Banker Realty •

RUNNING YOUR BUSINESS AS A BUSINESS

Learn how to set up your business for maximum profit, efficiency, and minimal risk.

CLASS 2 | APRIL 14 MARKETING YOURSELF & OPEN HOUSES

How to hold an effective open house, including farming techniques to get buyers in the door.

CLASS 3 | APRIL 21 THE ART OF COMPS

In this class, you’ll learn how to examine and build an effective Comparable Market Analysis.

CLASS 4 | APRIL 28 BUILDING YOUR CRM

Get to know some Client Relationship Management platforms and lead generation strategies.

Stay on after each class for a MASTERMINDS! This round-table disucssion will map out what’s next as you apply what you learned at BOOST.

MYRASM.COM/BOOST

MASTERMIND ROUNDTABLE myRASM.com | 33

MEMBERSHIP NEWS

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

NEW DESIGNATED REALTORS®

Nicholas Anthony Acosta, Downtown Expert Realty LLC Jack A. Brooks, Chip Brooks Realty LLC Ryan Thomas Chamblee, Pineywoods Realty LLC Jamie M. Dallas, Jamie Dallas Real Estate Perry W. Hodges III, Perry Hodges Licensed R.E. Broker Connie Marois Pozo, Real Proper Paula A. Orjuela, World Capital Realty LLC Joseph A. Pettinella, Century 21 Coastal Alliance Thomas Bond Rich, Thomas Bond Rich Appraiser Noreen Kathleen Slaalien, Think Real Estate Services, LLC Teresa Cristina Witte, Dream Star Vacation Homes & Real Estate LLC Lori J. Wolf, Lori J. Wolf

NEW REALTORS®

Graham Bailey, Keller Williams On The Water Katarzyna Banas, Realty Hub Barbara Liu Beasley, Realty Place Laura Bliss, Berkshire Hathaway HomeServices Florida Realty Feliks Bogucki, Bright Realty Angel Borg, Markangel Realty Arnold Braun, Leslie Wells Realty, Inc. Jeffrey Bray, EXP Realty LLC Michelle P. Brenner, Bright Realty Charles Lee Brickey, SVN Commercial Advisory Group William Bradford Bryant, Keller Williams Realty Select Joseph Michael Burruezo, Keller Williams On The Water Barry Douglas Butler, Bayshore Realty Inc Peter Cameron Calahan, Machado Property Pros Catherine Noelia Calix, EXP Realty LLC Rachel Anne Campise, Elite Realty Brokerage Erik Carlson, Michael Saunders & Company Luciana Graciela Casanas, Coldwell Banker Realty Alysa Casorla, Exit King Realty Cynthia Cesare, RE/MAX Alliance Group Brendyle Chavers, Leslie Wells Realty, Inc. Sandrine Chazaud, RoseBay International, Inc Janelle Christian, KW Suncoast Andrea M. Chuquizuta, Better Homes & Gardens Real Estate Atchley Properties Amanda Marie Cornett, Pineywoods Realty LLC Lauren Brooke Costeloe, Coldwell Banker Realty Thomas J. Cristello, Michael Saunders & Company Susan Olivia Dann, London Foster Realty

34 | ELEVATE [ APRIL 2021 ]

Kay Beckom Dawson, Charles Rutenberg Realty Inc Jotcabet de Armas Marrero, EXP Realty LLC Christine Pearl DeBrular, Elite Realty Brokerage Maria C. Doyle, One World Realty of Sarasota Jeffrey Scott Dupage, EXP Realty LLC Drake Lukas Egner, Keller Williams Classic Group Tanner Jordan Enoch, Duncan Real Estate, Inc. Madison Marcelle Faucher, Keller Williams Island Life Re Helene April Feo, Keller Williams On The Water Tonya Fiore, Horizon Realty International Chad D. Fonder, Keller Williams Island Life Re Sylvia DeAnn France, PalmerHouse Properties Leeann Fronckowiak, Marcus & Company Realty William Farrow Fuller, Keller Williams On The Water Chaseedaw Gable, EXP Realty LLC Brittany Pelletz Gates, Keller Williams On The Water Heather Jean Gonzalez Walle, EXP Realty LLC Deric Gorman, Michael Saunders & Company Robert Hanna, Trend Realty Tania Harmon, Coldwell Banker Realty Natalie Hebert, Marcus & Company Realty Glenn Charles Heinrich, EXP Realty LLC Elwanda Hixson, Michael Saunders & Company Phillip John Holloway, La Rosa Realty LLC JoAnn M. Houle, Gulf Coast Realty & Management Rebecca A Howard, Coldwell Banker Realty Zhoujian Hu, Home Realty & Management LLC Ivana Elizabeth Hyde, Sterling Realty Cynthia L. Jackson, Exit King Realty Darques Johnson, Preferred Shore Julie A. Kell, Keller Williams On The Water Dale A. Key, Bright Realty Ramona Kitterman, Keller Williams Classic Group Goran Kocoski, Coldwell Banker Realty Jina Lee, Michael Saunders & Company Christopher Lewis, Sarabay Real Estate Inc Richard Alan Lewis, Candy Swick & Company Corina Liranzo, EXP Realty LLC James Ryan Logsdon, Key Solutions Real Estate Grp Julie C. Look, Keller Williams On The Water Lily Yael Lopez, Marcus & Company Realty Melissa Ludwig, Keller Williams Classic Group Andrew Merrium Lyman, Berkshire Hathaway HomeServices Florida Realty Brittany Patrice McCowan-Serroukh, Realty Hub Carolyn Judith McElfresh, Keller Williams Classic Group

MEMBERSHIP NEWS Alexis Keller Millhof, Williams On The Water Svetlana Mishina, Sunset Realty Kaisen Shawn Mitchell, Coldwell Banker Realty Stephanie Mottram, Preferred Shore Lynn R. Murray, EXP Realty LLC Elizabeth Salley Neal, Boyd Realty Christopher M. Palm, Keller Williams Classic Group Yustina Probst, Coldwell Banker Realty Chrystal Pruitt, Realty Executives Gallery Alma Irene Ramirez, RMZ Realty Inc. Richard Leo Reimann, Keller Williams On The Water Edward Restrepo, Keller Williams On The Water John Edward Riley, Veterans Realty Inc. Halie Roberson, Keller Williams On The Water Sarah H. Rockey, Beckmann Properties David Rouleau, KW Suncoast Chase Christopher Rowell, Keller Williams On The Water Kimsey Ruggiero, Keller Williams Classic Group Joy Carolyn Ryan, Dalton Wade Inc. Elizabeth Marie Santiago, Weichert Realtors® Hallmark Pro Igor Sapego, Keller Williams Classic Group Teresa Lynne Savini, Coldwell Banker Realty Jonah Schopfer, Bright Realty Jeffrey Simpson, KW Suncoast Gregory Clifford Slater, EXP Realty LLC Britley Smith, EXP Realty LLC Lorraine Alexander Smith, Gulf Coast Paradise Realty Inc. Rafal Stefan Stepien, Coldwell Banker Realty John R. Tauber, Marcus & Company Realty James Curtis Taylor, Century 21 Beggins Enterprises Clara Ines Tovar, Keller Williams Classic Group Thomas Blair Trammell, White Sands Realty Group FL Salvatore Marcello Tripoli, Coldwell Banker Realty Judit Turan, Keller Williams On The Water Marie Tutera, Michael Saunders & Company Jean Renee Tyree, Star Bay Realty Corp. Mark Randall Tyree, Star Bay Realty Corp. Marlene Lisa Van Dyke, Century 21 Integra Realty Michael Vincent Velotta, Noco LLC Jeffrey Frank Wagner, Exit King Realty Christine Walker, Keller Williams On The Water Samuel Wallace, Good Life Realty LLC Noah Ward, EXP Realty LLC Timothy Ward, EXP Realty LLC Elizabeth A. Wiggins, Trend Realty Holly Marie Wikfors, Preferred Shore Brian Matthew Wilson, Preferred Shore

NEW BUSINESS PARTNERS BRITON INSPECTION SERVICES 6902 20th Ave W Bradenton, Florida 34209 Representative: Vincent Nemeth Email: Britoncontracting@gmail.com Briton Contracting specializes in residential home inspection services for the homeowner, buyer or seller. We believe that everyone should live in a safe, healthy and comfortable home. Let us use our experience and skills to give you an extensive evaluation of your current or future home.

CLEGG INSURANCE GROUP 101 S. Bay Blvd Anna Maria, Florida 34216 Representative: Paul Bachmann Email: Paul@clegginsurance.com We understand that commercial insurance can be one of your biggest expenses so we make it our mission to give you the time and attention needed to learn about your business. With a strategic analysis of your company, we work diligently to protect your business. We keep an open line of communication to track your businesses’ ups and downs to make sure you always have the right plan in place. •

941-556-8895 Sharonb@CoastalPrint.com

CoastalPrint.com 4391 Independence Court Sarasota, FL 34234

myRASM.com | 35

2021 ANNUAL SPONSORS PLATINUM

SILVER

BRONZE Battaglia Law, PLLC Peace of Mind Home Inspections Bert Rodgers Schools

MEMBERSHIP NEWS

RASM Members Now With Dean Abrams, Preferred Shore Eva Abrams, Preferred Shore Lawrence Stuart Achtman, Bright Realty Dana Alcorn, KW Suncoast Conner Harrison Ashley, BEX Realty, LLC David Glen Ashmore, Keller Williams Classic Group Samuel G. Autry, Keller Williams On The Water Melissa Helen Bailey, EXP Realty LLC Steven Thomas Barbagallo, Access Group Kelly Barnett, RE/MAX Alliance Group Kimberly Barnett, RE/MAX Alliance Group Marielena Beard, Shirley International Realty Annemarie Boerner PA, Key Solutions Real Estate Grp Christopher Joseph Brennan Jr., Keller Williams Island Life Re Katrina Brennan, Keller Williams Island Life Re Jack A. Brooks, Chip Brooks Realty LLC Demarco Jonathan Bryant, Side Real Estate Inc Erika Kathleen Carson, Keller Williams Classic Group Corey Casey, Dalton Wade Inc Brian K. Chapman, EXP Realty LLC Carla M. Chavez, BEX Realty, LLC Han Huynh Ching, Fine Properties Dennis W. Clark, BeachSalesMobi LLC Nicolas Trent Compton, LoKation Cristina Crespo Santiago, EXP Realty LLC Alexandra Dashner, Coldwell Banker Realty Christine del Monte, Coldwell Banker Realty Sara del Monte, Coldwell Banker Realty Melissa Nicole Delaney, Coldwell Banker Realty Darren James Dowling, Beyond Realty LLC Wendy Dowling, Beyond Realty LLC Daria Fairchild, Coldwell Banker Realty Janice Fanstill, Century 21 Tropical Breeze Esther Eti Farber, Keller Williams Classic Group Detlev Feidieker, Mangrove Bay Realty LLC Michael Garrett, Florida Property Brokers Realty Rita Lee Goff, Align Right Realty Riverview Adam Hancock, Realty One Group Skyline Emily Kathleen Haynes, Premier Sothebys Intl Realty Stacy Haynes, Coldwell Banker Realty Troy William Haynes, Coldwell Banker Realty Debbie A. Henninger, Keller Williams On The Water Meredith Holz, Fine Properties Roseli Homem, Keller Williams On The Water Robbie Dustin Howard, Keller Williams On The Water Thomas Ilg, Realty One Group Skyline Lizelle Elizabeth Jacobs Vosser, LoKation Julie Rae Ann Kelly, Coldwell Banker Realty Julia Klain, Exit King Realty Wilson Berdine Lavoy, Better Homes & Gardens Real Estate Atchley Properties

Brian Lichterman, Bright Realty Janet C. Lorie, Bright Realty Kenneth Anthony Louard, EXP Realty LLC Suarmi Louard, EXP Realty LLC Gina Love, Better Homes & Gardens Real Estate Atchley Properties Victor Maravi Passara, Keller Williams On The Water Denise R. Mattmuller, Premier Sothebys Intl Realty Suzan Faye McCarrell, EXP Realty LLC Yulia Morgun, Keller Williams On The Water Adam B. Mott, Casto Realty LLC Deanna Rae Munn, Locals Realty LLC Felicia Neptune, MVP Realty Associates LLC Cornelis Hylton Odendal, Keller Williams Realty Select Spring Olivera, Realty Partners LLC Paula A. Orjuela, World Capital Realty LLC Jessica Pasick, Keller Williams Realty Gold Mark James Perry, Shirley International Realty Shaan Camille Perry, HB Realty Group Inc. Charles Popovic, EXP Realty LLC Gregory Clifford Slater, EXP Realty LLC Heather Smith, Coldwell Banker Realty Marina V. Solo, KW Suncoast Karrie L. Tooze-Moore, Anna Maria Living LLC William G. Troxell, Red Door Real Estate Group Inc Rod Underdahl, Preferred Shore Jennifer Vassar, EXP Realty LLC Nathaniel John Vassar, EXP Realty LLC Ildiko C. Vincent, Mangrove Bay Realty LLC Iwona Wajszczak, Better Homes & Gardens Real Estate Atchley Properties Stephen D. Weeks, EXP Realty LLC Steven M. Whitfield, Own SRQ LLC Ashlei Yakubov, Keller Williams Island Life Re Zachary Younce, Turner Real Estate Network Michael Zappone, Century 21 Coastal Alliance •

MORE SOLD.

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

More Inventory. More Listings. Get More Sales with RASM’s FREE Campaign Assets

FREE Advertising Banners

You may have clients sitting on the fence whether to keep their home or sell. The “Time to SELL” campaign is our solution to today’s low inventory. Get customizable advertising graphics to use on your website, social media, emails and listing presentations.

MYRASM.COM/CAMPAIGNMATERIALS

SELL SELL Reach Further.

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

The Time is RIGHT to

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

www.MyRASM.com

EXPANDED REPORTS Sarasota and Manatee Counties

February 2021 Reach Further With The Market.

For more detailed reports, visit myrasm.com/statistics

Monthly Distressed Market - February 2021 Single Family Homes Sarasota County

Closed Sales

February 2021

February 2020

Percent Change Year-over-Year

827

603

37.1%

$360,000

$308,000

16.9%

-75.0%

$190,000

$212,000

-10.4%

-66.7%

$203,000

$270,000

-24.8%

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

2017

2018

Traditional

2019

Foreclosure/REO

2020

Short Sale

100% 90%

Closed Sales

80% 70% 60% 50% 40% 30% 20% 10% 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

$600K

Median Sale Price

$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

2017

2018

2019

2020

Monthly Distressed Market - February 2021 Single Family Homes Manatee County

Closed Sales

February 2021

February 2020

Percent Change Year-over-Year

532

461

15.4%

$380,000

$325,000

16.9%

-72.7%

$349,900

$189,900

84.3%

-66.7%

$339,900

$274,000

24.1%

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

2017

2018

Traditional

2019

Foreclosure/REO

2020

Short Sale

100% 90%

Closed Sales

80% 70% 60% 50% 40% 30% 20% 10% 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

$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

2017

2018

2019

2020

Monthly Distressed Market - February 2021 Townhouses and Condos Sarasota County

Closed Sales

February 2021

February 2020

Percent Change Year-over-Year

516

370

39.5%

$285,000

$263,495

8.2%

-50.0%

$182,550

$197,600

-7.6%

-100.0%

(No Sales)

$242,500

N/A

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

2017

2018

Traditional

2019

Foreclosure/REO

2020

Short Sale

100% 90%

Closed Sales

80% 70% 60% 50% 40% 30% 20% 10% 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

$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

2017

2018

2019

2020

Produced by Florida REALTORS® 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 2021 Townhouses and Condos Manatee County

Closed Sales

February 2021

February 2020

Percent Change Year-over-Year

294

238

23.5%

$230,750

$210,000

9.9%

0.0%

$155,000

$175,000

-11.4%

N/A

(No Sales)

N/A

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

2017

2018

Traditional

2019

Foreclosure/REO

2020

Short Sale

100% 90%

Closed Sales

80% 70% 60% 50% 40% 30% 20% 10% 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

$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

2017

2018

2019

2020

Produced by Florida REALTORS® 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 2021 Issue

Articles inside

Buying a Home in Ireland vs the U.S. - A Peak at the Cultural Differences

Hot Sales Market Creates Low Inventory of Rental Properties | ELEVATE Magazine

What is the CREA Friday Morning Meeting all About?

RASM Recognizes Joshua Morris as ‘Humanitarian’ for Quarter 1 | ELEVATE Magazine

April 2021 ELEVATE Magazine - Fair Housing For All

Global Business Council

Professional Development

Neighborhood Spotlight

Government Affairs

Young Professionals Network

Property Management Council

Commercial Real Estate Alliance

Realtor® Attorney Joint Committee