October 2019
Tech Update, Tricks & Tips 6
Business Associations and Signing Authority 14
Changes to FannieFreddie Mortgages 16
Active Year for the Global Business Council 27
In with the new EXCEPTIONAL LIVING EXPO Join us November 6th, 2019, 4:00-6:30PM at Robb & Stucky An exceptional preview of our area's new developments and communities.
NOW TAKING RESERVATIONS Auteur Sarasota Wide open living at the heart of the new Sarasota bayfront AuteurSarasota.com • From the $2,000,000s • 941.500.2014 Now Taking Reservations • Sales Gallery 1297 Palm Avenue, Sarasota
NEW 5% COMMISSION PAID AT CONTRACT † Palma Sola Bay Club The Lifestyle You Deserve • PalmaSolaBayClub.com From the $400,000s to $700,000s • 941.216.7436 • 3410 77th St. W., Bradenton † See sales associate for details.
NOW UNDER CONSTRUCTION The Ritz-Carlton Residences, Sarasota Legendary service and amenities TheResidencesSarasota.com • From the $2,400,000s • 941.702.2300 Preview Gallery 1111 Ritz-Carlton Dr., Sarasota
1OO% COMMISSION PAID AT CONTRACT † Sandhill Lake Single family homes in the heart of Sarasota. • SandhillLakeSarasota.com From the high $400,000s • 941.234.0432 • 7740 Sandhill Lake Drive, Sarasota † See sales associate for details.
WATERFRONT HOMES & HOME SITES Riverside Point A gated community of riverfront homes • RiversidePointFlorida.com Home sites from $229,900 • Homes from the mid $400,000s 941.201.4574 • 5490 56th Ct E, Bradenton The Residences on Longboat Key Coming to the Former Colony Site, Longboat Key Join the interest list at TheResidencesLongboatKey.com From the $2,000,000’s • 941.213.3300
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Register yourself by completing the broker participation guideline to make sure you receive your commission check! To see all of the properties, visit michaelsaunders.com/new-homes
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844.591.4333 | 100 SOUTH WASHINGTON BOULEVARD | SARASOTA, FLORIDA
OCTOBER 2019
6
COVER STORY
Contents 14
Realtor® Attorney Joint Committee
16 19 23
Government Affairs
14
Realtor® Attorney
Eric R. Hoonhout, Esquire with Hoonhout Law, discusses the need for real estate agents to know who should be signing the relevant documents during closing.
4 | ELEVATE [ OCTOBER 2019 ]
16
Government Affairs
Max Brandow, Director of Government Affairs, explains the changes to the Fannie-Freddie Mortgages and NAR’s reaction.
Commercial Investment Division
27
Global Business Council
28
Young Professionals Network
31
Neighborhood Spotlight
34 37
Calendar of Events
TECH UPDATE, TRICKS & TIPS
There’s no denying that we live in a digital age, now more than ever. Technology continues to transform the way real estate professionals conduct business and connect with customers. Agents can go “all-mobile,” and forego the traditional office environment entirely, use drones for photographing a property, and even show a home to a customer on the other side of the world through any of the many virtual home tour technologies.
Market Analysis
38
Professional Development Membership News
27
Global Business Council
The Global Business Council has had an active year with more in its agenda. We hosted a delegation from Panama with Luis Pimentel, the President of ACOBIR.
PRESIDENT UPDATE
RASM South - 2320 Cattlemen Road Sarasota, Florida 34232 RASM North - (Temporary Location) 417 12th Street West, Suite 106 Bradenton, FL 34205 Phone: 941-952-3400 FAX: 941-952-3401 www.MyRASM.com
ICYMI: State of the Association
STAFF CONTRIBUTORS: Member Services Manager: Jessica Montague Director of Information Technology: Jesse Sunday Professional Development Manager: Janet Sowers Government Affairs Director: Maxwell Brandow Communications & Marketing Director: Gina White Magazine Editor: Beth Sunday Production: Coastal Printing, Inc.
2019 ASSOCIATION OFFICERS: President: Amy Worth, RE/MAX Platinum Realty President-Elect: David Clapp, RE/MAX Alliance Group Treasurer: Adam Chicoine, RE/MAX Alliance Group Secretary: Georgina Clamage, Michael Saunders & Company Immediate Past President: Greg Owens, Keller Williams on the Water Chief Executive Officer: Jeff Arakelian
By: Amy Worth, RASM President
A
t our recent Annual Meeting, we presented a State of the Association address. In case you missed it, here’s a recap: Based on member count, RASM ranks among the biggest and most progressive REALTOR® Associations in the country. In the Swanepoel Mega 1000 report for local associations, RASM is 45th largest local REALTOR® Association in the U.S. out of 1,100. We are also the 7th largest local REALTOR® Association in Florida, out of 54. With almost 7,000 Realtor® members, RASM will likely fall into NAR’s Mega Association category in the near future.
“We hope to break ground in the first quarter of 2020.”
MISSION STATEMENT: ®
The mission of the REALTOR Association of Sarasota ® and Manatee (RASM) is to keep the Realtor central to the real estate transaction by advancing members’ professionalism and expertise while upholding ® the Realtors Code of Ethics. We are committed to protecting private property rights in the communities we serve. ELEVATE Magazine is published monthly at RASM.
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. 2019 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 at 941-952-3417 or email Beth@MyRASM.com.
The groundbreaking for the RASM North building in Downtown Bradenton was delayed due to work needing to be completed by Florida Power and Light. We hope to break ground in the first quarter of 2020. RPAC fundraising continues to be a strong point for our Association. So far this year, we have achieved 34.1 percent member participation in RPAC, invested $191,931 in RPAC and we currently have 25 Major Investors. In the Advocacy arena, we helped prevent the City of Sarasota from implementing burdensome development processes in the downtown district. We also successfully advocated for the promotion of Accessory Dwelling Unit use in Sarasota County. Manatee County is soon to follow their lead. Since the start of 2019, RASM has presented over 77 Professional Development programs with a total of 3,144 attendees, and 65 individuals have achieved a designation or certification. We also developed a new agent training program call BOOST. Lastly, we have continued to contribute to the betterment of our communities through our Community Outreach programs. This year we have raised and donated $29,610 for local charities and awarded six scholarships of $2,000 each. Our Association has grown and made many improvements to better serve you. We look forward to continuing these successes through the end of the year and into 2020. • myRASM.com | 5
COVER STORY
Tech Update, Tricks & Tips
T
here’s no denying that we live in a digital age, now more than ever. Technology continues to transform the way real estate professionals conduct business and connect with customers. Agents can go “all-mobile,” and forego the traditional office environment entirely, use drones for photographing a property, and even show a home to a customer on the other side of the world through any of the many virtual home tour technologies. In order to provide the best possible service to customers, it’s important that agents stay up-to-date on all the new and emerging trends.1
realtor/technology. The initial topics they will focus on include blockchain, artificial intelligence and machine learning, and technologies driving iBuyer models, smart homes, and privacy and security. This is an exciting and informative resource available for members, providing access to brand new real estate technology and explaining it in an easy to grasp manner, even for those who aren’t up-to-speed on the latest tech trends.2
REAL ESTATE IN THE DIGITAL AGE
It’s hard to imagine a time when we didn’t NAR TEAM “Technology is an opportunity, not immediately “Google” The need something for quick a threat,” NAR CEO, Bob Goldberg. for researching, access to information, but understanding, and that is the age we live in embracing new and searching for a home technology is so vital, is no different. Buyers that NAR has recently established the National now have immediate access to an infinite amount Association of REALTORS® Emerging Technology of information regarding home prices, availability, Team. The goal of this new group is to position NAR and features all at their fingertips. In addition, there as a leading voice in real estate technology innovation. are many apps that let them search by location and The team’s mission is to identify and research neighborhoods, and everything in between. Online emerging tech with the potential to impact the real searching educates the buyer, often way before they estate industry. even connect with a real estate agent. To better understand how technology has NAR has remained committed to staying at the enhanced the customer-Realtor® relationship, NAR has forefront of technology. Through NAR’s technology created Real Estate in a Digital Age 2019 Report. growth accelerator, REACH®, they identify and partner This report examines the process home buyers go with early stage companies, or those new to real through in the initial online search and how Realtors® estate, and help them access the industry. Over the are connecting with customers in the digital space. next few months, NAR will publish updates on nar. 6 | ELEVATE [ OCTOBER 2019 ]
Our world has changed so rapidly in the past 40 years. According to the report, in 1981, 22 percent of home buyers read newspaper ads to find a home and eight percent used friends as an information source. In addition, in 1981, the top way to find an agent was through friends, relatives or neighbors. Compared to data gathered in 2018, the report states that 44 percent looked for properties online first. However, buyers worked with an agent 87 percent of the time to find their home, so trusting in a Realtor® is still king. While the initial process may start online, buyers still turn to the advice from a trusted real estate agent. Technology has changed our world, but it can’t take the place of a real person that is knowledgeable, trustworthy and dependable to help navigate the uncertain process of home buying. The difference today is that home buyers are entering the process much more educated about the market, making the need for Realtors® to be on top of their tech game more than ever before. 3
KNOW YOUR CUSTOMER The report further breaks down the percentages of technology usage by various age groups. For example, 98 percent of older millennials cited using the internet, whereas 89 percent of older Baby Boomers and only 72 percent of the Silent Generation felt comfortable using the internet as a resource. In addition, Older Boomers used a mobile device at roughly half the rate of Younger and Older Millennials. Both Younger and Older Boomers used online video sites less frequently than other age groups. Of course, these statistics aren’t true of everyone in these age brackets, but in general, Realtors® need to have an understanding as to what technology is frequently used by their customers. The NAR report goes on to explain how frequently Realtors® use technology. The most common communication technology used by Realtors® was smartphones, which is used daily or nearly every day by 95 percent of members. Over 50 percent of Realtors® use their email, smartphone, laptop or desktop computer, cell phone, or GPS daily or nearly every day. And 93 percent of members preferred to communicate with their customer’s through text messaging or telephone, while only 27 percent prefer to use postal mail. An agent’s preference of communication needs to correlate with the customer’s needs as well. If a customer isn’t comfortable using virtual tours, the agent could lose that prospect to someone who is more willing to physically tour properties.3 NAR’s Real Estate in a Digital Age 2019 Report, is a phenomenal resource for understanding the impact of technology on real estate. Visit www.nar.realtor/ research to view the entire report.
SOCIAL MEDIA, APPS, DRONES… OH MY! Social Media is here to stay. There is no way around it. If you want to reach your target audience, you must use and understand social media platforms. NAR’s Real Estate in a Digital Age 2019 Report, - states that social media was the tool cited as the best source for generating high-quality leads among Realtors®, followed by multiple listing service (MLS) websites. Among Realtors® who use social media, the most used social network was Facebook at 97 percent, followed by LinkedIn at 59 percent. But the occasional email, text or post might not be what you need. “Social media should be a big part of any agent’s marketing strategy,” said Brian Tresidder, Real Estate Broker with Key Solutions Real Estate. “Mixing in Facebook or Instagram posts can compliment an email farming campaign, and it is a great way to reduce cost. Social Media gives you the ability to interact with friends and family to stay top of mind. However, agents should be careful they aren’t spamming their friends, family, and contacts. Social media is a great tool, but it’s not relevant to everyone. Using a multichannel approach to reach your customers creates a more personalized experience, and better success. Text messages are impersonal to those who don’t text, and the same is true of email. Likewise, an invitation to join a Facebook group or view an Instagram post will fall flat for those who don’t use those platforms. Finding the right tech avenue to reach each potential customer is the key to success. Apps are great tools for agents as well. “Both our CRM (Sierra Interactive) and our CMS (Dotloop) are mobile friendly and they make managing your real estate business a breeze while out and about,” said Tresidder. [ Continued on page 8 ]
myRASM.com | 7
COVER STORY CONTINUED [ Continued from page 7 ]
As technology advances, so does the use of drones. The NAR report tells us that 29 percent of Realtors® hire a professional to operate a drone for their business. Hiring a professional is preferred by most and recommended to assure your professional image. Consumers today have higher standards than those from just a few years ago. As technology advances, so do expectations. Keeping up with the changing trends means always looking professional. “Technology changes so rapidly, that it can be very difficult to keep up,” said Jesse Sunday, RASM’s Information Technology Director. “Hiring professionals to handle things like drone videos, virtual tours, and website maintenance is just good practice. Agents should have a solid understanding of technology but relying on a professional will make them look more professional to the tech savvy prospect,” said Sunday.
LEADING THE WAY WITH CRM Customer Relationship Management software (CRM) is an advanced technology designed to gather, manage and organize sales leads. It uses data analysis about potential customers’ history (home wants, needs, likes and dislikes, etc.) to improve business relationships, focusing on customer retention and sales. It’s a great tool to save time because it can be easily programmed to respond to inquiries automatically. “I absolutely recommend REGULARLY accessing and using a CRM,” said Tresidder. “We are very big into online lead generation and the only way to make a great return on investment is to have a great follow up system in place. The key is organizing your database and then following up. You need to have a reaction to every response you receive from a lead. If they say “A”, you do steps “1, 2, and 3”... if they say “B”, you do steps “4 and 5.” Having your responses prebuilt in the system to quickly respond and tweak as necessary is a great time saver.”
TOMORROW’S TECHNOLOGY Just when you think that you’ve seen everything the tech world has to offer, think again. The NAR second annual iOi Summit, which stands for Innovation, Opportunity & Investment, was held in August in Seattle, Washington. It brought together over 500 real estate technology minds, investors and Realtor® members to collaborate, network, and lead change. If you want to know everything new coming to the tech world, this is the place to be.5 The conference brings industry leaders together to discuss the future of the real estate business amid new technologies. Topics discussed include iBuyers and artificial intelligence (AI). Sounds like a lot to absorb, but these are elements that will be introduced into the real estate culture. During the summit, NAR CEO, Bob Goldberg stated, “Technology is an opportunity, not a threat.” 6 8 | ELEVATE [ OCTOBER 2019 ]
What is an iBuyer? Simply stated, an iBuyer is a company that uses technology to make an instant offer on a home. The underlying idea is that a company estimates the value of your home and makes an offer. Different services offer different options, but basically an iBuyer buys your home and then takes on marketing and reselling your home. Obviously, today’s Realtor® needs to be aware of this service, and educated themselves on the pros and cons. The pace at which technologies like iBuyers and artificial intelligence are reshaping the real estate industry is only going to speed up. But that’s no reason to fear for your livelihood. While these innovations will simplify the home buying and selling process, they won’t change your role as an adviser helping customers understand their home sale options. In fact, technology (void of emotion), is in contrast to an agent’s best asset: bringing human compassion to the transaction.6 Head spinning yet? Yes, there is great deal of new and existing technology that is changing how business works – in the real estate world and in every walk of life. Whether you use any or all of it is a personal choice. But change is inevitable and being aware of the trends and market turns will only aid an agent to better navigate this change. Smart agents will recognize the need to be well versed on every aspect of the industry, so that they have the answers their customers seek. •
SOURCES
1 | www.nar.realtor/technology 2 | www.nar.realtor/blogs/emerging-technology/introducing-nar-s-
emerging-technology-team
3 | nar.realtor/research-and-statistics/research-reports/real-estate-in-a-
digital-age
4 | https://magazine.realtor/for-brokers/network/article/2017/04/5-
office-uses-for-ai-voice-assist-devices (NAR)
5 | www.nar.realtor/events/ioi 6 | https://magazine.realtor/technology/feature/article/2019/08/how-to-
stay-relevant-in-a-tech-infused-world (NAR)
BUSINESS PARTNER SPOTLIGHT
Town and Country Banc Mortgage, Services Inc. By: Michael Cofrancesco, Mortgage Lender
W
ith more than 20 years of experience in financial services and lending, Mike joined Town and Country Banc’s lending team in March of this year and is excited to serve homebuyers in the southwest Florida market. “Purchasing a home is one of the most significant financial decisions people will make in their lifetime. I find nothing more rewarding than working with them to achieve that goal,” said Mike. Mike’s background grants him the expertise to not only ensure that his clients have a thorough understanding of the mortgage process, but that they
also receive products and services best-suited for their home buying needs. He is able to offer Conventional, FHA, VA, RD, Jumbo, and several in-house loan programs. On top of Mike’s personal dedication to customer service, Town and Country Banc Mortgage Services, Inc. supports him with a team of loan processors, underwriters, and closers who are also resources to clients throughout the home buying process. “I enjoy working for a community-focused lender because I am able to talk to my clients and mortgage team directly. As opposed to larger banks and mortgage brokers, I do not have to go through so many channels of communication in order to turn a home buyer’s dream into a reality,” said Mike. Town and Country Banc Mortgage Services, Inc. is a wholly-owned subsidiary of Town and Country Bank. Town and Country is a direct approved HUD, FHA, Title II lender since 1962, a Fannie Mae seller/servicer since 1969, a direct approved USDA lender since 1996, and VA lender since 2008. For more information contact Mike today at 941.375.8058 or visit www. MCofrancesco.com to apply online. •
myRASM.com | 9
RASM NEWS
Members Recognized at Annual Meeting
A
t the 2019 Annual Membership Meeting on September 17, RASM members came together to honor and recognize the many achievements of their peers.
EMERITUS AWARD HONOREES The meeting began with RASM’s new REALTOR® Emeritus honorees. Emeritus Recipients are Realtors® who have been members of the National Association of Realtors® (NAR) for 40 years. RASM thanks our Emeritus recipients for their years of dedicated service to our industry. Congratulations on this amazing achievement!
REALTOR® EMERITUS RECIPIENTS: Loretta Friedman Gail Adams Paula Steinert Debra Lichter David Clapp Ann Wolpers Darla Furst
10 | ELEVATE [ OCTOBER 2019 ]
2019 LEADERSHIP INSTITUTE GRADUATES We also celebrated the graduation of the 2019 Leadership Institute Class at the Annual Meeting. The RASM Leadership Institute is a rigorous program designed to train emerging Realtor® leaders who want to get involved, make a difference, grow their business and expand their leadership skills. Participants are immersed in a classroom setting and group sessions focusing on team building, goal setting, networking techniques and communication skills. This year’s program included the addition of NAR’s Leadership Series, and spokesperson training.
CONGRATULATIONS 2019 GRADUATES: Nathan Butrum David Crawford Olga Glenn Sonata Labanauskiene Debi Reynolds Francesca Talamo Misty Tavenner Marina Yukho •
RASM NEWS
Florida REALTORS® Honor Society
F
lorida REALTORS® established an Honor Society to recognize members of local boards who are active in their state Association. The Honor Society also salutes members for participation at the local and national levels of the Realtor® organization; for activity in the National Association of REALTORS®, Institutes, Societies and Councils; for designations earned, educational activities, and political involvement. Statewide, several hundred select members qualified for this recognition. Each recipient receives a custom-designed lapel pin. The design on the pin symbolizes homes for people, business, and industry.
The Honor Society recipients were honored at the RASM Annual Meeting on Tuesday, September 17.
HONOR SOCIETY RECIPIENTS: 1st Year: Jody Carlson 2nd Year: Adam Chicoine Julie Montei Steve Zeris 5th Year: Michael Bruno Denise Oyler 6th Year: Xena Vallone Amy Worth Greg Owens 7th Year: Renee Marquiss Roger Piro
8th Year: Rita B. Smith 9th Year: David Clapp Joyce Steward 10th Year: Barry Grooms Christina Pitchford 12th Year: Michelle Crabtree Sherry Grooms Kristin Triolo 15th Year: Paula Cashi 24th Year: Bill Furst •
TUESDAY, OCTOBER 22 CORNHOLE
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From the $600s 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.
REALTOR® ATTORNEY JOINT COMMITTEE
Business Associations and Signing Authority By: Eric R. Hoonhout, Esquire, Hoonhout Law
A
t the time a listing agreement is signed, or at the onset of a transaction, a real estate agent needs to know who should be signing the relevant documents. Reviewing the vesting deed to make sure the agent has the identity of the owner right is step one. Understanding who is authorized to sign on behalf of an estate, a trust, or a particular type of business association is an equally important step. Getting it wrong can mess everything up, or in some cases, blow everything up. This article focuses on business associations, but the RAJC presentation on October 16, 2019 will also address estates and trusts. Various types of business associations can hold title to real property in Florida. Classification by business association naturally breaks into two main categories: Corporations and LLC’s; and Unincorporated associations, e.g., sole proprietorships, partnerships, limited partnerships, etc. The sources of law that govern the existence and operation of business entities dictate what documents should, or sometimes must be created by the owner(s) to evidence the existence and governance of the entity (the “governance documents”). Real estate agents handling closings involving a business entity need to know that it is the entity’s governance documents that provide what person(s) or officer(s) of the entity has or have the authority to sign contract documents and conveyance documents. In addition to governance documents, one needs to understand the agency concepts of “actual authority” and “apparent authority” to sign and bind an entity. This will be discussed in some detail at the October 16 presentation (hint, hint). When entering into a listing agreement or when assisting in the preparation of contract documents, an agent should collect the relevant governance documents from the client(s) to help ensure that the person(s) that will be signing the documents are authorized to do so. Though the Supreme Court of Florida has carved out the right of real estate agents to use approved contract forms, and to fill in the blanks to effectively prepare them, a real estate agent cannot 14 | ELEVATE [ OCTOBER 2019 ]
provide legal advice by opining on who is authorized to sign documents on behalf of an entity. This would be unauthorized practice of law, for which there can be serious consequences. If there is a question about who can sign for an entity, the real estate agent should collect the relevant governance documents and call a real estate attorney for guidance. If an agent assists in the preparation of contract documents for the purchase or lease of real property, and the wrong person(s) sign on behalf of the entity, it can and probably will affect the validity of the contract documents, perhaps even rendering the contract documents invalid. If an agent is found to have failed to exercise due care in the course of assisting in the preparation of contract documents, and the same are found to be invalid, and a party to the contract documents is damaged thereby, it could result in liability for the real estate agent. To the agents reading this, I’ll say what my grandmother used to say to me all the time: “The life you save may be your own.” She also told me to do my homework. •
ABOUT THE AUTHOR Eric R. Hoonhout, Esq. is the founder of Hoonhout Law, Chartered, a Sarasota, Florida real estate, business, elder law, and estate planning law firm. Eric represents individuals, real estate professionals, developers, landlords, tenants, homeowner and condominium associations, and business entities of all kinds in all types of transactional real estate, development, construction, title insurance, business, and banking and financial matters. This article is meant as a guide for educational purposes only. It is not intended to serve as legal advise and should not be used as a substitute for consultation with an attorney.
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GOVERNMENT AFFAIRS
Changes to Fannie-Freddie Mortgages By: Max Brandow, RASM Government Affairs Director
T
he Trump Administration released its previously announced proposal to reform Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSEs). The GSEs buy over 50 percent of mortgages from the lenders that originated them, which the lenders can then use to originate even more new mortgage loans. As a result, any change to the GSEs could impact the mortgage market. “We’re encouraged that government officials continue to pursue reform, but as Realtors® we want to see a type of reform that does not impact ongoing accessibility to the 30-year fixed-rate mortgage, which is essential to the U.S. economy,” said Florida REALTORS® President Eric Sain. “We’re specifically concerned about any possible reduction in the availability of GSE financing for second-home buyers, investors or homeowners who want a cash-out refinance mortgage.” The National Association of REALTORS® (NAR) also voiced a concern about 30-year mortgages and other changes in mortgage availability. It continues to push its own reform plan and says it will keep working with lawmakers. NAR’s reform plan is posted online. “NAR continues working with the White House and Congress as we move closer to securing palatable, pragmatic improvements to our housing finance system, and we maintain our belief that NAR’s blueprint for GSE reform represents the best path forward for this system and our economy,” said NAR President John Smaby. He thanked the president for initiating “thoughtful, genuine effort toward housing finance reform.”
CONDO RULE OPENS DOOR TO HOME OWNERSHIP FOR MIDDLE INCOME AMERICANS As many may already know, the Department of Housing and Urban Development announced the longawaited arrival of new Federal Housing Administration condominium loan policies. Many of the changes secured in the rule are policies for which NAR has 16 | ELEVATE [ OCTOBER 2019 ]
advocated for over a decade, and we believe the final product will help alleviate affordability and inventory problems plaguing markets across the country. Specifically, the new guidance extends certifications from two years to three, allows for single-unit mortgage approvals, provides flexibility with owner/ occupancy ratios, and increases the allowable number of FHA loans in a single project. The rule will go into effect in October. “We are thrilled that HUD Secretary Ben Carson has taken this much-needed step to put the American Dream within reach for thousands of additional families,” NAR President, John Smaby, said after the rule was finalized. “Condominiums are often the most affordable option for first-time homebuyers. This ruling will help reverse recent declines in condo sales and ensure the FHA is fulfilling its primary mission to the American people.” HUD said it believes these changes will extend critical benefits to aspiring homeowners and also reiterated that the announcement helps confirm the agency is properly serving the public. Today, homeownership rates among young and minority households are at historic lows. We all know that condos play a critical role in our housing market, representing the entry-level price for many first time home buyers. They should be viewed as they are – an essential component of the American Dream. Representatives Blaine Luetkemeyer and Emanuel Cleaver, along with Senators Bob Menendez and Tim Scott, served as the initial sponsors of Congressional legislation that expedited the development of this final rule. This policy absolutely supports that mission.
RPAC DEADLINE The deadline to complete your RPAC investments in order to be counted for the 2019 calendar year is fast approaching. If you are unsure where you are currently with your investment contact me at max@myrasm.com. •
SOURCES 1 | https://www2.Floridarealtors.org/News-Media/News-Articles/2019/09/
Hud-And-Doj-Propose-Changes-Fannie-Freddie-Mortgages
2 | https://www.nar.realtor/condo-rule-opens-door-to-homeownership-for-
middle-income-americans
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RASM NEWS
Employee Anniversaries
R
ASM happily recognizes the workplace anniversaries of our professional staff. Cassidy Miller, Professional Development Coordinator, celebrates her one year anniversary with RASM this month. Cassidy works with Janet Sowers, Professional Development Manger, to promote the educational programs and professional development courses that RASM proudly offers its members. A Sarasota native, Cassidy keeps busy tending to her small farm of cows, chickens and ducks. In her free time, she enjoys spending time with her husband and their two dogs, and she has recently taken up dirt biking! Cassidy also volunteers with the SRF Rural Disaster Relief Group, taking farm supplies to areas that have been devastated by disasters.
O
ctober marks the two-year anniversary for Peter Den Uiji, RASM’s Facility Coordinator. Peter really enjoys the diversity of RASM members, maintaining the RASM South building, and providing the best services for all RASM members. Peter’s responsibilities include general hospitality duties, cleaning, and overall building maintenance. He’s the guy who continually makes sure rooms are set up for all of RASM’s classes and events. In his free time, Peter loves to explore all that Florida has to offer. Traveling with his wife and 10 year old daughter is Peter’s true passion, and his family is always ready for their next adventure. We can’t do what we do without our dedicated staff! •
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MARKET ANALYSIS
Single-Family Home Sales Up as Inventory Declines By: Gina White, Communications and Marketing Director
F
or the August 2019 housing market, single-family home sales increased, pushing sales volume up to $279.6 million in Sarasota and $267.3 million in Manatee. According to monthly reports from Florida REALTORS®, inventory decreased across the twocounty area this month while prices picked up again in Manatee County. The combined number of properties sold in Sarasota and Manatee counties increased by 3.2 percent from August 2018 to August 2019. In Manatee County, single-family home sales increased by 10.3 percent to 654 and Sarasota single-family home sales increased by 7.4 percent to 769. In the condo market, Sarasota sales increased by 6.3 percent to 335. However, Manatee condo sales fell short of last year’s growth with a 25.9 percent decrease to 203 sales in 2019. “In the first eight months of the year, singlefamily homes lead the market with year-to-date home sales growth,” said Amy Worth, 2019 President of the REALTOR® Association of Sarasota and Manatee. “The area remains to be an attractive place to live and work, keeping buyers interested and our local economy strong.” Combined inventory for both markets in both counties decreased year-over-year by 7 percent. Condo inventory in Sarasota County decreased by 0.8 percent, while Manatee decreased by 0.9 percent. Single-family home inventory decreased by 8.9 percent in Sarasota and decreased by 11.3 percent in Manatee County. As for listings added to the market this month, Sarasota single-family new listings continue to increase year-over-year while the other markets fall short. For single-family homes, new listings increased by 4.7 percent in Sarasota and decreased by 3.9 percent in Manatee. Condo new listings in Manatee decreased by 4 percent, while Sarasota decreased by 6.2 percent. “New listings historically drop this time of year before they pick up again around October,” added Worth. “The decreasing inventory may be an offset to the amount of new construction in our area.”
Median prices cooled slightly in Sarasota County, while Manatee continues to increase year-over-year. Sarasota single-family home prices decreased by 1.2 percent to $280,000, while Sarasota condo prices decreased by 0.8 percent to $231,000. In Manatee County, single-family prices increased by 7.1 percent to $317,000 and condos increased by 7.9 percent to $205,000. The combined data between the two counties shows a 12.6 percent increase in pending sales, which could lead to more closed sales in the future. Single-family pending sales increased by 27.6 percent in Sarasota County and increased by 5.3 percent in Manatee County. Condo pending sales increased by 19.9 percent in Sarasota and decreased by 16.9 percent in Manatee. The month’s supply of homes continues to stay below the 5.5-month benchmark for a balance between buyers and sellers. Sarasota single-family home supply decreased by 10.3 percent to a 3.5-month supply, while the condo market increased by 7.3 percent to a 4.4-month supply. As for Manatee County, single-family home supply decreased by 15.4 percent to a 3.3-month supply and condos are at a 3.6-month supply, showing no change from this time last year. Monthly reports are provided by Florida REALTORS® with data compiled from My Florida Regional Multiple Listing Service. For comprehensive statistics dating back to 2005, visit www.MyRASM.com/ statistics. • myRASM.com | 19
Monthly Market Summary - August 2019 Single Family Homes Sarasota County August 2019
August 2018
Percent Change Year-over-Year
769
716
7.4%
250
245
2.0%
Median Sale Price
$280,000
$283,488
-1.2%
Average Sale Price
$363,534
$383,483
-5.2%
$279.6 Million
$274.6 Million
1.8%
95.5%
95.4%
0.1%
Median Time to Contract
51 Days
44 Days
15.9%
Median Time to Sale
94 Days
87 Days
8.0%
New Pending Sales
763
598
27.6%
New Listings
806
770
4.7%
Pending Inventory
989
799
23.8%
Inventory (Active Listings)
2,365
2,595
-8.9%
Months Supply of Inventory
3.5
3.9
-10.3%
Closed Sales Paid in Cash
Dollar Volume Med. Pct. of Orig. List Price Received
1,200
2015
2016
2017
2018
2019
Closed Sales
1,000 800 600 400 200 0
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
Median Sale Price
$350K $300K $250K $200K $150K
$100K $50K $0K
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
4,000
Inventory
3,500 3,000 2,500 2,000 1,500 1,000 500 0
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
2015
2016
2017
2018
2019
20 |byELEVATE [ OCTOBER ] by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Produced Florida REALTORS® with data2019 provided Data released on Thursday, September 19, 2019. Next data release is Tuesday, October 22, 2019.
Monthly Market Summary - August 2019 Single Family Homes Manatee County August 2019
August 2018
Percent Change Year-over-Year
654
593
10.3%
158
159
-0.6%
Median Sale Price
$317,000
$296,000
7.1%
Average Sale Price
$408,738
$393,126
4.0%
$267.3 Million
$233.1 Million
14.7%
96.6%
95.7%
0.9%
Median Time to Contract
42 Days
44 Days
-4.5%
Median Time to Sale
86 Days
94 Days
-8.5%
New Pending Sales
557
529
5.3%
New Listings
664
691
-3.9%
Pending Inventory
774
698
10.9%
Inventory (Active Listings)
1,818
2,050
-11.3%
Months Supply of Inventory
3.3
3.9
-15.4%
Closed Sales Paid in Cash
Dollar Volume
Closed Sales
Med. Pct. of Orig. List Price Received
800 700 600 500 400 300 200 100 0
2015
2016
2017
2018
2019
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
Median Sale Price
$350K $300K $250K $200K $150K
$100K $50K $0K
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
Inventory
3,000 2,500 2,000 1,500 1,000 500 0
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
2015
2016
2017
2018
2019
Produced by Florida REALTORSÂŽ with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of themyRASM.com following month. Data released on Thursday, September 19, 2019. Next data release is Tuesday, October 22, 2019.
| 21
Monthly Market Summary - August 2019 Townhouses and Condos Sarasota County August 2019
August 2018
Percent Change Year-over-Year
335
315
6.3%
181
166
9.0%
Median Sale Price
$231,000
$232,950
-0.8%
Average Sale Price
$362,419
$323,255
12.1%
$121.4 Million
$101.8 Million
19.2%
94.2%
94.4%
-0.2%
Median Time to Contract
81 Days
76 Days
6.6%
Median Time to Sale
129 Days
115 Days
12.2%
New Pending Sales
361
301
19.9%
New Listings
348
371
-6.2%
Pending Inventory
575
488
17.8%
Inventory (Active Listings)
1,413
1,425
-0.8%
Months Supply of Inventory
4.4
4.1
7.3%
Closed Sales Paid in Cash
Dollar Volume Med. Pct. of Orig. List Price Received
600
2015
2016
2017
2018
2019
Closed Sales
500 400 300 200 100 0
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
Median Sale Price
$300K $250K $200K $150K $100K $50K $0K
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
Inventory
2,500 2,000 1,500 1,000
500 0
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
2015
22 | ELEVATE [ OCTOBER 2019 ]
2016
2017
2018
2019
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 Thursday, September 19, 2019. Next data release is Tuesday, October 22, 2019.
Monthly Market Summary - August 2019 Townhouses and Condos Manatee County August 2019
August 2018
Percent Change Year-over-Year
203
274
-25.9%
93
128
-27.3%
Median Sale Price
$205,000
$190,000
7.9%
Average Sale Price
$251,339
$222,249
13.1%
$51.0 Million
$60.9 Million
-16.2%
95.8%
95.0%
0.8%
Median Time to Contract
50 Days
47 Days
6.4%
Median Time to Sale
95 Days
93 Days
2.2%
New Pending Sales
207
249
-16.9%
New Listings
241
251
-4.0%
Pending Inventory
287
317
-9.5%
Inventory (Active Listings)
794
801
-0.9%
Months Supply of Inventory
3.6
3.6
0.0%
Closed Sales Paid in Cash
Dollar Volume Med. Pct. of Orig. List Price Received
350
2015
2016
2017
2018
2019
Closed Sales
300 250 200 150 100 50 0
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
Median Sale Price
$250K $200K $150K $100K
$50K $0K
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
Inventory
1,200 1,000 800 600 400 200 0
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
2015
2016
2017
2018
2019
Produced by Florida REALTORSÂŽ with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of themyRASM.com following month. Data released on Thursday, September 19, 2019. Next data release is Tuesday, October 22, 2019.
| 23
COMMERCIAL INVESTMENT DIVISION
Information for the CRE Professional and Consumer By: Susan H. Goldstein, 2019 CID President
P
rior to the May 2019 NAR Legislative Meetings & Trade Expo, NAR secured partnerships with two commercial real estate listing services, Brevitas and CREXi. Catalyst is also in conversations with NAR in hopes to secure a similar partnership in the future for its new national commercial listing service, Commercial Exchange. This article shall serve to inform you about how your association is working with Catalyst and how you can choose to supplement your efforts with the NAR partnerships between Brevitas and CREXi.
PUBLIC-FACING FEATURES ADDED TO MFCRE Since 2007, RASM’s CID has been associated with Catalyst most recently through our MFCRE platform. Our intention is to continue this partnership which now offers an enhanced public-facing commercial real estate listing website. On August 27, the board, a dedicated Task Force, and staff, met with Catalyst and My Florida to learn more about their plan for marketing our properties directly to the public. Because of our members’ collaboration on MFCRE, a broker-centric service powered by Catalyst, we have more publicly search-able, active listings for Sarasota and Manatee counties than on any other
listing service. Catalyst has been effective at facilitating broker property searches, but not as effective with consumers. To solve that problem, Catalyst has just recently introduced a new public-facing and free-tosearch national commercial listing site: Commercial Exchange, located at www.CommercialExchange.com. All members participating on local market Catalyst services, including MFCRE, receive automatic and free exposure on Commercial Exchange. MFCRE members do not need to register or sign up separately. Their active listings on MFCRE are automatically uploaded to Commercial Exchange. This singular brand and URL will allow consumer property searches to be performed across the state and country seamlessly. Catalyst is now focused on marketing strategies that drive consumers to Commercial Exchange for public searches. This will increase public awareness and drive more leads back to MFCRE members.
NAR PARTNERS WITH BREVITAS AND CREXI In May of this year, NAR partnered with two commercial listing platforms to provide enhanced commercial real estate information service for its members. These platforms offer commercial members the opportunity to expose their listings to a nationwide audience and search properties available across the country. They also offer a variety of technology tools that enhance transactions. NAR CEO, Bob Goldberg, recently stated that “In the evolving world of real estate technology, it is crucial that NAR aligns with innovative, public facing commercial listing portals that aggregate data from multiple sources, display commercial properties and create national exposure for our members’ listings.”1 Brevitas and CREXi will integrate its data with Realtors® Property Resource® (RPR®) so that Realtors® can gain a more comprehensive overall research experience. These collaborations will streamline, manage and grow our business. Please be confident that your association through CID, RASM, FR and NAR, are diligently working to enhance your business and market your properties through a multitude of listing platforms. We encourage you to make the most of all these opportunities. •
SOURCE
1 | https://magazine.realtor/daily-news/2019/05/14/nar-partners-with-leading-
commercial-real-estate-listing-marketplace. National Association of Realtors®
24 | ELEVATE [ OCTOBER 2019 ]
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GLOBAL BUSINESS COUNCIL
Active Year for the Global Business Council By: Glo Reber, Premier Sotheby’s International Realty
T
he Global Business Council has had an active year with more in its agenda. We hosted a delegation from Panama with Luis Pimentel, the President of ACOBIR. He was joined by the Executive Director of ACOBIR, Xenia Kwai Ben. ACOBIR is the Panamanian Association of Real Estate Brokers and Developers (Asociación Panameña de Corredores y Promotores de Bienes Raíces). RASM is pleased to announce that it has a “memorandum of understanding” between the two Associations. This memorandum sets forth parameters related to connecting and establishing a mutually beneficial relationship for its members. They also participate with the National Association of REALTORS® and have many members who have earned the Certified International Property Specialist designation (CIPS). Attendees were given a tour of the Port of Manatee and Lakewood Ranch. The president gave a presentation of their beautiful country. We also explored the positive economic situation, its growing Realtor® participation in the organization, and future prospects for investing and growth in the country.
UPCOMING NATIONAL EVENTS Several members of the Global Business Council participated in a Trade Mission to Columbia, commencing in Bogotá. They also attended the 35th FEDELONJAS National Real Estate Congress in Cartajena. The FEDELONJAS is the equivalent of our Realtor® Association in Colombia, and is our Ambassador Association. There is also a scheduled trade mission to Dubai with Florida REALTORS®. It will give Realtors® an opportunity to meet with key officials and developers, tour properties, learn about the country and obtain a Dubai real estate license, if desired.
Global Business Council Welcomes Panama’s Association Leaders.
UPCOMING LOCAL EVENTS Oktoberfest is also on the agenda for October 3. Join us from 4 - 6 p.m. as we celebrate the German festival at Big Top Brewing Company. Enjoy pretzels, brats, and of course, beer! The first round is on us! The GBC Annual Holiday party will be held on November 19 at RASM South. We are asking members to celebrate their culture diversity by hosting a booth of their country and showcasing its charms! For information about hosting a booth, contact global@ myrasm.com. The Global Business Council offers so many opportunities to participate with fellow agents. Whether or not you have a current overseas buyer, the future opportunities are out there for investors in Florida. It is all about referrals and the GBC is a special organization to make those connections with those in other parts of the world. Join today! •
myRASM.com | 27
YOUNG PROFESSIONALS NETWORK
YPN’s Impact on the Suncoast By: Todd Rentschler, Realtor®, Forbes Property Group
O
ctober is here! It’s been a full year of events so far, with a good balance of fun, fund-raising, and volunteer-ism. Did you know, in the five years that RASM YPN has been in existence, the group has raised over $80,000 for local charities and donated over 2,400 food items? RASM YPN is making a significant impact in both Sarasota and Manatee Counties. The YPN keeps growing and we are now close to 500 members strong.
FLASHBACK FRIDAY BOWLING DAY Our most recent fundraising event, was the Flashback Friday Annual Realtor® Bowling Day. We had a blast while raising money for a great cause. This year’s proceeds went to benefit the Everyday Blessings, Inc. Springboard Program - an innovative program designed to meet the many needs of young adults aged 18-22 who are participating in the Extended Foster
28 | ELEVATE [ OCTOBER 2019 ]
Care Program. This year’s theme was a “Flashback” to the 80’s and 90’s (or maybe even the 70’s), and the characters really came out! It was an awesome time as always and if you missed it, there’s always next year!
YPN GIVES BACK TO F.E.L.T. Last month, several YPN members volunteered to support another worthy, local charity, F.E.L.T. (Feeding Empty Little Tummies) in Bradenton. F.E.L.T. is dedicated to providing meals and snacks for the thousands of homeless children living in Sarsota and Manatee County. YPN members joined the volunteers at F.E.L.T. headquarters to fill over 800 bags of meals for kids in need! What a great cause and everyone who helped “felt” great about helping to feed little tummies!
UP NEXT WITH THE YPN Next up is the YPN BOO-ery Tour, on Thursday, October 24! Dress up in your favorite Halloween costume and enjoy a tour of Bradenton breweries (bus included!). It’s always a great networking opportunity and so much fun. Check www.myrasm.com/calendar for details. •
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NEIGHBORHOOD SPOTLIGHT
Sherwood Forest By: Kathlyn Vieira Clayton; Agent, Coldwell Banker on Longboat Key
I
magine a neighborhood where you pass over a babbling brook and travel through a romantic covered bridge. You see streets lined with mossy, old granddaddy oak trees, and picturesque homes - a style not typical of Florida - such as New England colonials and Cape Cod style ranches. This is not your average neighborhood. This is Sherwood Forest! Within the private roads, you’ll find the theme of Robin Hood throughout, with street names such as Maid Marian Lane, Little John Trail, Friar Tuck Lane, and of course, Robin Hood Trail. Sherwood Forest is a wonderfully small, family friendly neighborhood. Each spring, the residents gather under the covered bridge for an old-fashioned picnic hosted by the association. It is a deed restricted community, where residents take pride in their homes.
Thanks to the four lakes contained within the neighborhood, there is plenty of wildlife too, including otters! Sherwood Forest was built in the mid 80’s. Each of the 157 homes range in size from 1,600-2,900 square feet. Most homes have pools and two-car garages. Homes rarely become available, but when they do, prices range from $300,000 to $425,000. And they go fast! Sherwood Forest is conveniently located at the intersection of McIntosh and Bahia Vista. The community is situated close to the interstate, and close to all the shopping you could wish for at UTC Mall and the Cooper Creek shops. Its also close to the beautiful Bayfront, St. Armand’s Circle, and downtown Sarasota, with all her wonderful amenities, including the arts, theatre and fantastic restaurants. Sherwood Forest truly is an enchanted place to call home! •
myRASM.com | 31
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32 | ELEVATE [ OCTOBER 2019 ]
Main Office: 2033 Main Street Sarasota FL 941.330.2500
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Easy TO SELL Easy TO EARN JOIN OUR REALTOR ® REWARDS PROGRAM FOR UP TO 5% COMMISSION AND MORE Earn rising commissions for each Neal Communities home you sell.
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Why NEW
Trusted Craftsmanship, Thoughtful Planning,
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Innovative Design, Exceptional Value,
Safe Building Materials, Easier Maintenance,
and Environmental Integrity
Community Clubhouses, Pools, Parks
For over 40 years we’ve been building for the Florida Lifestyle: our best homes in Southwest Florida’s best locales. As the largest and most established family-owned builder in the area, Neal boasts an over 90% customer satisfaction rate.
Sign up for Realtor Rewards today! ®
NealCommunities.com/Realtors • 844.712.5053 Neal Signature Homes and Neal Communities Realtor® Reward programs are two separate programs. Sales procured with each entity are recognized only by the entity the sale is procured with. Commission: 3% payable to your office for a sale provided that you are the Procuring Cause. Commission will be paid on the base home, home site and home site premium. For completed inventory, commission will be paid on net contract price, exclusive of merchandising and furniture. Payment of Commissions: Commissions will be paid as follows: 1. In full at lot close (if a lot and home purchase) or 2. In full after home closing if an end close. ©2018 Neal Communities, Lakewood Ranch, Florida. All rights reserved. CBC1256375
Southwest Florida’s Most Experienced Home Builder For Over 40 Years
OCTOBER 2019
CALENDAR OF EVENTS TUESDAY, OCTOBER 1 9:00 a.m.
2:30 p.m.
MLS Adding and Editing [ Goodwill ]
New Member Contracts [ Goodwill ]
TUESDAY, OCTOBER 22 5:00 p.m.
FRIDAY, OCTOBER 11 WEDNESDAY, OCTOBER 2
9:00 a.m.
CID Marketplace [ South ]
WEDNESDAY, OCTOBER 23
7:30 a.m.
Toastmasters [ South ]
8:00 a.m.
YPN Coffee Talk: Market Forecast [ South ]
9:00 a.m.
MLS Basic [ South ]
1:00 p.m.
MLS Compliance 101 [ South ]
1:00 p.m.
Property Assessed Clean Energy Programs [ South ]
MONDAY, OCTOBER 14
2:30 p.m.
MLS Adding & Editing Listings [ South ]
All Day
SATURDAY, OCTOBER 12 3:30 p.m.
Volunteer: SPARCC Amazing Raise Scavenger Hunt [ South ]
RASM Offices Closed for Columbus Day
9:00 a.m.
8:15 a.m.
MLS Express Zone 1 East [ Tara Golf & Country Club ]
3:00 p.m.
Ambassador Training [ South ]
4:00 p.m.
Oktoberfest Celebration (GBC) [ Big Top Brewery]
TUESDAY, OCTOBER 15 11:30 a.m.
CID Membership Meeting [ South ]
8:15 a.m.
MLS Express Zone 1 West
[ Bradenton Country Club ]
8:15 a.m.
MLS Express Zone 4 [ South ]
9:00 a.m.
MLS Lead Generation Tools [ Goodwill ]
1:00 p.m. MLS Remine [ Goodwill ]
9:00 a.m.
CID Marketplace [ South ]
MONDAY, OCTOBER 7 1:00 p.m.
Advertising Made Easy [ South ]
TUESDAY, OCTOBER 8 8:30 a.m.
Attainable and Affordable Housing Panel [ South ]
9:00 a.m.
Accredited Closing Expert
Toastmasters [ South ]
(day 1 of 2) [ South ]
8:15 a.m.
MLS Express Zone 1 West [ Bradenton Country Club ]
8:00 a.m.
18th Annual CID Golf Tournament [ Founder’s Club ]
9:00 a.m.
CMA Tools [ South ]
9:00 a.m.
9:00 a.m.
Business Associations and Signing Authority [ South ]
Seniors Real Estate Specialist (day 1 of 2) [ South ]
1:00 p.m.
Intro to Public Records: iMapp [ South ]
1:00 p.m.
Turning Actions Into Results Workshop [ South ]
7:30 a.m.
9:00 a.m.
8:00 a.m.
Accredited Closing Expert
(day 2 of 2) [ South ]
9:00 a.m.
Seniors Real Estate Specialist
(day 2 of 2) [ South ]
5:00 p.m.
RASM After Hours [ Palm Aire Country Club ]
MLS Express Zone 3 [ South ]
FRIDAY, OCTOBER 18 9:00 a.m.
TUESDAY, OCTOBER 29
CID Marketplace [ South ]
WEDNESDAY, OCTOBER 30 9:00 a.m.
THURSDAY, OCTOBER 10 8:15 a.m.
MLS Express Zone 2 [ South ]
9:00 a.m.
MLS Basic [ Goodwill ]
1:00 p.m.
MLS Compliance 101 [ Goodwill ]
1:00 p.m.
Newly Licensed? [ South ]
CID Marketplace [ South ]
THURSDAY, OCTOBER 17
9:00 a.m.
FRIDAY, OCTOBER 25
8:00 a.m.
RSPS- Home Sweet Second Home [ South ]
WEDNESDAY, OCTOBER 9
YPN BOO-ery Tour [ TBD ]
MONDAY, OCTOBER 28 WEDNESDAY, OCTOBER 16
FRIDAY, OCTOBER 4
Tech Talk [ South ]
THURSDAY, OCTOBER 24
5:00 p.m.
THURSDAY, OCTOBER 3
Kick Off the Season with a Tailgate [ South ]
MONDAY, OCTOBER 21 9:00 a.m.
New Member Orientation [ South ]
1:00 p.m.
New Member Code of Ethics [ South ]
BOOST: Running Your Business as a Business [ South ]
THURSDAY, OCTOBER 31 8:15 a.m.
MLS Express Any Zone [ South ]
Advanced registration is requested. See the latest event calendar at: myrasm.com/calendar
34 | ELEVATE [ OCTOBER 2019 ]
UPCOMING CLASSES UPCOMING CLASSES
NEWLY LICENSED? NOW WHAT?
Learn more at myrasm.com/calendar to register. Classes are offered at RASM South or Goodwill.
YPN COFFEE TALK: MARKET FORECAST Wednesday, October 2
8:00 – 9:00 a.m.
PROPERTY ASSESSED CLEAN ENERGY PROGRAMS 1:00 – 3:00 p.m.
[ South ]
PACE programs allow a property owner to finance the up-front cost of energy or other eligible improvements on a property and then pay the costs back over time through a voluntary assessment. Members $10.
ADVERTISING MADE EASY Monday, October 7
1:00 – 4:00 p.m.
RSPS - HOME SWEET SECOND HOME 8:30 a.m.– 5:00 p.m.
[ South ]
Over 1/3 of home sales are vacation or investment properties. Demonstrate that you have the skills needed for these transactions by earning RSPS Certification. This course covers the essentials of buying, selling, and managing resort properties and 2nd homes. Members $125. 7 CE HRS.
ATTAINABLE AND AFFORDABLE HOUSING PANEL Wednesday, October 9
9:00 - 11:00 a.m.
[ South ]
Panel members will discuss the state of affordable housing in Sarasota and Manatee Counties, what’s available to buyers to assist them attain the American Dream, and efforts to reign in improper allocation of Sadowski Funds. Members $10.
[ South ]
Newly Licensed agents will gain a better understanding of real estate terms, obtain overviews of working with buyers and sellers, enhance their communication skills, explore real estate partnerships and much more! Members $10. 3 CE Hours.
TURNING ACTION INTO RESULTS WORKSHOP Wednesday, October 16
1:00 - 2:00 p.m.
[ South ]
Empowering 60-minute session, sponsored by Tony Robbins, is designed to provide your team with strategies they can use immediately to measurably enhance their professional and personal lives. Members Free.
TECH TALK Wednesday, October 23
9:00 a.m. – 1:30 p.m.
[ South ]
Learn the newest innovations in real estate technology at Tech Talk. Featured speakers include Amy SmytheHarris and Sara Luff. Members $20.
[ South ]
The new FREC rules went into effect July 1, 2019. You will learn the nuances to the changes to will keep you in compliance. Members $25. 3 CE HRS.
Tuesday, October 8
1:00 – 4:00 p.m.
[ South ]
Dustin Wells from the Sarasota EDC and Mark Stewart from the Bradenton EDC will provide an economic update of the two-county area. Free.
Wednesday, October 2
Thursday, October 10,
ACCREDITED CLOSING EXPERT Monday, Oct. 28 - Tuesday, Oct. 29, 8:00 a.m. - 5:00 p.m. [ South ]
The ACE focuses on making you more profitable, quicker. You’ll learn the strategies that the top producers use in negotiations, creating value, working with investors, managing customer expectations and much more! 8 CE Hours. Members $99. 8 CE Hours.
SENIORS REAL ESTATE SPECIALIST (SRES) (NAR DESIGNATION) Monday, Oct. 28 - Tuesday, Oct. 29, 9:00 a.m. - 5:00 p.m. [ South ]
The SRES Designation Course helps real estate professionals develop the business-building skills and resources for specialization in the 50+ real estate market by expanding knowledge of how life stages impact real estate choices, connecting to a network of resources, and fostering empathy with clients and customers. Members $125. 8 CE Hours.
[ Continued on page 36 ]
Designation or Certification Courses [South Office ] 2320 Cattlemen Road, Sarasota, FL 34239
[ Goodwill Manasota ] 2705 51st Ave E, Bradenton, FL 34203
myRASM.com | 35
UPCOMING CLASSES CONTINUED BOOST: RUNNING YOUR BUSINESS AS A BUSINESS Wednesday, October, 30, 9:00 a.m. -noon. [ South ]
New agent program designed to help you get your business started. Learn tax strategies, how to decide if you want to list your business as a sole proprietorship, LLC, corporation; time management, and more. Members Free.
DON’T FEAR THE ENGINEER Tuesday, November 5
10:00 a.m. – 11:00 a.m.
Wednesday, October 2 Thursday, October 10
2:30– 3:45 p.m. 2:30– 3:45 p.m.
[ South ] [ Goodwill ]
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.
MLS ELECTIVE CLASSES [ South ]
Engineers can help determine if housing defects can pose a threat to the safety of your customers. In this class you will also learn about the effect of open permits and construction without a permit will have. Members Free.
MLS EXPRESS TROLLEY TOUR: LAKEWOOD RANCH Thursday, November 7 9:00 a.m. – 12:30 p.m. [ Tara Golf and Country Club ]
From retirees to young families, Lakewood Ranch area attracts so many different buyers. Our local LWR legend will clue you in on the types of properties and the many amenities that come with them. Members Free.
MLS REQUIRED CLASSES
Registration is required for all MLS classes, register at learn.stellarmls.com. If you cannot attend, please cancel to release your spot by calling Stellar MLS at (800) 686-7451.
MLS BASIC Wednesday, October 2 9:00 a.m. - noon Thursday, October 10 9:00 a.m. - noon
MLS ADDING & EDITING LISTINGS
[ South ] [ Goodwill ]
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.
CMA TOOLS Wednesday, October 16 9:00 a.m. – noon
[ South ]
Pricing a property is perhaps one of the most crucial steps when working with a buyer or seller. In the days of so many questionable automated models that attempt to value properties, creating a thorough Comparative Market Analysis (CMA) is also an opportunity for a real estate agent to stand out to their buyer or seller.
INTRO TO PUBLIC RECORDS: IMAPP Wednesday October 16 1:00 p.m. – 3:00 p.m.
[ South ]
Public Records data is a powerful, but often overlooked resource. Your MLS subscription offers you several tools that compile a variety of data from public records sites. With these tools, you can gain a lot of insights into a property to give you an edge when meeting with a potential seller or working with a potential buyer. Also, through public records tools, you can quickly craft your own highly targeted mailing lists.
MLS LEAD GENERATION TOOLS Thursday, October 24
9:00 a.m. – noon
[ Goodwill ]
Real Estate Agents are often bombarded by companies trying to sell them leads. Oftentimes, multiple sellers and buyers exist in an agent’s sphere of influence and social networks. In this class, we will review several tools included with your MLS subscription to generate leads from your website, social media sites, or email lists.
MLS COMPLIANCE 101 DATA DRIVEN MARKETING THROUGH REMINE
Wednesday, October 2 1:00 p.m. – 2:15 p.m. [ South ] Thursday, October 10 1:00 p.m. – 2: 15 p.m. [ Goodwill ]
Thursday, October 24 1:00 – 3:00 p.m.
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. It is critical that we share accurate data, and 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.
If you spend time online these days, you have probably received a targeted add with the right product for you at just the right time! What if you could take a similar approach to your real estate marketing? Rather than spending money advertising to people who are not a good match for your services, through Remine, you can use a variety of data and predictive analytics to hone in on individuals most likely to buy or sell.
36 | ELEVATE [ OCTOBER 2019 ]
[ Goodwill ]
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Make the comfortable choice and call Conditioned Air today. TH
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1-888-COLD-AIR • 941.893.6450
www.conditionedair.com 1040 Knights Trail Rd., Unit A • North Venice 34275 Serving All Of Southwest Florida! License# CAC1819590
By: Janet Sowers, Professional Development Manager
O
ctober brings us education programs varying in scope but all will give you vital information to be a successful Realtor®. PACE programs - Property Assessed Clean Energy - are available in both Sarasota and Manatee Counties. These loans, which are attached to property assessments, may or may not be visible on tax rolls depending on when the loan was taken. They can cause headaches for your buyers if unidentified, and can cause lenders to cancel the transaction. Linda Monaco, with the Attorneys’ Title Fund Services, and Lee Hayes Bryon, with Sarasota County, will provide the information needed to ensure that agents are able to handle transactions that have a PACE lien attached to them. Don’t miss this class on October 2.
ATTAINABLE, WORKFORCE, HOUSING Home ownership can be elusive to many in our area. Join us on October 9 to learn what our panel of experts is doing to make the American Dream reachable for more consumers. Steve Rinehart, Steven Cover, Hagen Brody, Denise Thomas, and Sue Denihan, will discuss the issues, and how they are being tackled by government and businesses. Additionally, there will be three designation and certification courses offered this month - RSPS, SRES, and ACE.
NEW DESIGNATIONS & CERTIFICATIONS:
941-556-8895 Sharonb@CoastalPrint.com
CoastalPrint.com
Accredited Buyer’s Representative (ABR®) Brian Randolph Blake, Fine Properties Military Relocation Professional (MRP) Christine Marion, Robert Slack LLC James Charles Marko, Fine Properties Margaret Mary Richardson, Keller Williams On The Water Cynthia Jeanne Robinson, Keller Williams On The Water myRASM.com | 37
MEMBERSHIP NEWS
RASM Welcomes New Members By: Jessica Montague, Member Services Manager
NEW DESIGNATED REALTORS® Darcie Rae Andersen, Epoch Appraisals LLC Klyque Atkins, KA & Associates Realty LLC Brock Doyle, Brock Doyle Nicola A Irizarry, Dwell owner Buddy King, Beachside Luxury Realty Lidiya Korzhuk PA, Real RE Group LLC Kathy L. Wilkes, Sarasota’s West Coast Realty
NEW REALTORS® Jenny Lee Alday, Capital Real Estate Enterprise Jennifer Arroyo, Stockton Realty Advisors LLC Bruce Jonathan Brunette, DeLuca Realty Inc James Anthony Buresch, Coldwell Banker Raymond Lee Butterfield, EXP Realty, LLC Kevin David Calhoun, Fine Properties Vincent Americo Cerrone, Yorkshire International R.E. Cindy Melany Chavez Thornton, Trend Realty Carol Cooper, Key Solutions Real Estate Group Brooks Cundiff, Keller Williams Realty Select James Lowell Drews, Premier Sothebys Intl Realty Robert S Duenskie, Medway Realty Laurie Ann Eshleman, Stock Realty LLC Christa Folkers, CounTreeWide Realty Inc Robert Gaudino, Keller Williams Classic Group Victoria Sarah Haddow, Keller Williams Classic Group Margaret Hart, Coldwell Banker Res Real Estate Hayley Hawkinberry, IMG Realty FL Nancy Denise Holland, Le Grande Realty Inc Hector Huertas, RoseBay International, Inc Elsa Michelle Kauffman, Concession Real Estate Comp. Virgil Joseph Keith, Coldwell Banker Residential R. Julie Rae Ann Kelly, Preferred Shore Scott Kinsman, Wagner Realty Brad A Kosnick, Horizon Realty International Tryla Brown Larson, Berkshire Hathaway HomeServices FR Gregory James Leksich, Wagner Realty Keith Beachside McCabe, Luxury Realty Carol Penner McFarland, Weichert Realtors Hallmark Pro Taylor O’Quinn, Keller Williams On The Water Barbara A Parrish, Keller Williams On The Water Julie Catherine Pieczonka, Sellstate Platinum Realty
38 | ELEVATE [ OCTOBER 2019 ]
Bill J Plifka, Robert Slack LLC Bernardo Quijadas, SRQ International Realty LLC Leonardo Saldarriaga, Michael Saunders & Company Wendy A Scott, Mount Vernon Property Mgmt Inc Lisa A Sebastian, Coldwell Banker Res RE Thomas J Sellitti, RE/MAX Platinum Realty Ronald Robert Shenkin, Bright Realty Joshua L Shrock, Keller Williams Realty of Manatee Katie Alexandra Snow, Exit King Realty Kelly Ann Szychowski, Keller Williams Realty Select Jacob Taylor, Keller Williams Classic Group Alexa Jade Valente, IMG Realty FL Michal Anne Vander Woude, Realty One Group Skyline Thomas Jerome Waldoch, Gulf Shores Realty Christy Kathleen White, Mapp Realty & Investment Co Steven M Whitfield, Coldwell Banker Adam Clark Yelvington, Exit Sunset Realty Karen C Zirzow, Markey Realty & Associates Inc
NEW BUSINESS PARTNERS ABSOLUTE HOME SOLUTIONS 808 65th Ave W Bradenton, Florida 34207 Representative: Terry Gilbert Email: terry.gilbert@absolutehomesolutionsfl.com We are a veteran and family owned and operated business, and it is our promise to provide your family the best home inspection we can provide. We maintain national certification with InterNACHI in addition to a Florida State License, and many hours of continuing education and additional certifications.
BAND, GATES & DRAMIS, P.L. One South School Ave Suite 501 Sarasota, Florida 34237 Representative: Chad Gates Email: cgates@bandgates.com At Band, Gates & Dramis, our clients are our main focus. We strive to be different from other law firms that provide impersonal legal services. We aim to
deliver client-focused legal services, inside and outside of the courtroom. If you have been looking for aSarasota personal injury law firm that will treat your case as a top priority, you have come to the right place.
BENEFITMALL 877 Executive Center Dr W St. Petersburg, Florida 33702 Representative: Heather Schank Email: heather.schank@benefitmall.com BenefitMall is a national provider of employee benefits, payroll, HR and employer services
BROOKS INSURANCE GROUP, INC 2477 Stickney Point Rd Ste 323B Sarasota, Florida 34231 Representative: Kimberlee Brooks Email: kim@bigsrq.com Brooks Insurance Group, Inc, BIG SRQ, is a leading independent insurance agency serving all of Florida. We are an independent insurance firm specializing in all lines of personal and commercial products and services for businesses, individuals and their families. The agency strives to build long-term relationships with clients by providing high levels of customer service and by representing the industry’s top carriers.
BROTHERS PROPERTY GROUP 8388 S. Tamiami Trail, Suite 301 Sarasota, Florida 34238 Representative: Mike Brodt Email: Support@brothersinspect.com Jeff and Mike Brodt are the owners and inspectors of Brothers Property Group. Both will be present during your inspection, ensuring greater attention to detail and more efficient service. Careers in construction, engineering, and other closely related fields have filled the majority of the two brothers’ professional backgrounds, and that’s what eventually led them to the inspection industry.
CALIBER HOME LOANS INC 1819 Main Street Sarasota, Florida 34236 Representative: Phil Thompson Email: Phil.Thompson@caliberhomeloans.com A mortgage lender created by industry experts who understands the challenges of today’s home financing market. We all work together to expand your lending options, close loans ahead of schedule, and create innovative new loan solutions.
FBC MORGAGE LLC 235 N Orange Ave Sarasota, Florida 34236 Representative: Lisa Wheeler Email: Lisa@Lisa-Wheeler.net FBC Mortgage, LLC focuses on providing its customers and business partners with industry best service. We offer a wide array of competitive mortgage products.
GIT FLORIDA TITLE SERVICES 2033 Main Street Suite 100 Sarasota, Florida 34237 Representative: Ariana Gillooly Email: Ariana.Gillooly@gitc.com GIT Florida Title Services provides a single point of contact for all title closing related services. GIT has embraced new technology to strengthen its core business and provide assurance to regulators and clients.
KOONTZ & ASSOCIATES, PL 1613 Fruitville Road Sarasota, Florida 34236 Representative: Jo Ann Koontz Email: joann@koontzassociates.com At Koontz & Associates we believe that counseling an isolated issue, without consideration for other areas of your life, can lead to unexpected complications down the road.
RELIANCE ENVIRONMENTAL INC P.O. Box 711 Sarasota, Florida 34230 Representative: Michael P Raffoni Email: MPR@relianceenv.com Reliance Environmental, Inc. is an environmental consulting firm specializing in brownfield redevelopment, due diligence, site characterization, storage tank and remediation projects. We identify potential environmental issues, environmental impacts, an discuss viable options.
SLEEP INN/MAINSTAY SUITES 5965 Brookhill Blvd Sarasota, Florida 34232 Representative: Laurie Pike Email: LauriePike@SarasotaGatewayHotels.com Two Choice favorites combined in one property with all the amenities you have learned to love from both! An added bonus will be the resort-style pool area with a tropical sundeck, fire pit and grill.
myRASM.com | 39
MEMBERSHIP NEWS
Business Partner After Hours Networking
T
he 2019 RASM Business Partners hosted the September “After Hours Networking Event� at the Palm Aire Country Club. This monthly event is always a fun night of socializing and networking. All RASM members, and future members, are invited and encouraged to attend and enjoy networking! Come, relax and enjoy free appetizers, happy hour prices / specials, and lively conversations with your fellow members. Check out the RASM Facebook page for locations and for more pictures. Make sure to join us next month!
RASM Members Now With Megan Abshari, RE/MAX Alliance Group Judith Ann Achtenberg, Star Bay Realty Corp. Christian M Adamson, Alliance Group Limited Michael J Albano, Coldwell Banker Res R E Joao Almeida, Chrome Realty LLC Karen Arena, Neal Communities Realty, Inc. Lyndsey Ann Ashley, Keller Williams Realty Select Diane H. Barrington, RE/MAX Alliance Group LaShanne Beasley, Blakeley & Associates Realty Gina Boucher, Exit King Realty Edward F Brunicardi JR, Chrome Realty LLC Julie Anna Carlson, Chrome Realty LLC Taylor Colter, Better Homes and Gardens Real Estate Atchley Properties Ryan Cornell, Madison Allied LLC David R. Coupland, Alliance Group Limited Phillip Anderson Dawson, DeLuca Realty Inc Dale De Young, Gulf Shores Realty Christina M. Defilippo, Fine Properties Robert S. Dinan, Align Right Realty LLC Penny Lynn Donald, Keller Williams Island Life Re Erin M. Doran-Reid, Berkshire Hathaway HomeServices Florida Realty Brock Doyle, Brock Doyle Samira Easton, Team Realty and Investment Sol Katharina C Eckert, RE/MAX Alliance Group Ronald Nathan Eiseman, Premier Plus Realty Gloria Maria Elwell, EXP Realty, LLC Tracey L. Franklin, Dwellowner Jill Christine French, EXP Realty, LLC Marcia F. Frost, Coldwell Banker Residential R. Elizabeth Garofalo, Anytime Realty Shawna Gauger, Wagner Realty Elizabeth Gerber, RE/MAX Anchor Realty Elisa Gersman, Michael Saunders & Company Corinne S. Gianiotes, Century 21 All Aces Realty Jackie Gonzales, EXP Realty, LLC Sharon R. Gould, Re/Max Alliance Group Kimberly Grams, Star Bay Realty Corp. Beth Ann Harris, Fine Properties Edna Allison Hernandez-Zullin, RoseBay International, Inc. Jan A. Hlywa, Coldwell Banker Residential Re Mariele Giudici Hoffman, Bright Realty Alexis Kristina Holt, EXP Realty, LLC Christin Hughes, McConnell and Associates David Brent Jackson Hughes, EXP Realty, LLC Heidi Johnson, Realty By Design LLC Richard Johnson, Realty By Design LLC Megan Keilson, Keller Williams Island Life Re Amber M. Kelley, Sold More Realty LLC Peter Karl Klein, Keller Williams St Pete Realty Lidiya Korzhuk PA, Real RE Group LLC
Valentina Kvamme, Trend Realty Steven Bryan Larkin, Veterans Realty Inc. Charles R Leduc, RoseBay International, Inc Lorna S Leduc, RoseBay International, Inc Patti Jo Levan, Horizon Realty of Anna Maria Ana Lerida Machado, Ana Lerida Machado PA Christopher Manning, Keller Williams Realty Gold Lori B Marsh, Platinum Real Estate Vanessa Saccone Mason, Coldwell Banker Res R E Katy Lynn McBrayer, Premier Sothebys Intl Realty Stacy Lynn Metz, Exit King Realty Catherine Miles, Chrome Realty LLC Peggy Mock, Coldwell Banker Res R E Barbara Ann Montgomery LLC, Coldwell Banker Residential R. Bria Moore, Keller Williams Island Life Re Jennifer Patterson, Anchored Realty Inc Peter G. Perez, Century 21 Schmidt Real Estate Sarah Jane Perry, Your Florida Lifestyle Realty LLC Mark R. Reemelin, Premier Plus Realty Michael J Renick PLLC, Better Homes and Gardens Real Estate Atchley Properties Mary F Rinaldi, Chrome Realty LLC Angela Rose, Michael Saunders & Company Scott Schuhriemen, Bright Realty Amanda D. Schwartz, Chrome Realty LLC Carol J. Scott, Scott Silver Real Estate LLC Andrea Sedlackova, Veterans Realty Inc. George Nick Serterides, Star Bay Realty Corp. Linda L. Smith, Weichert Realtors® Hallmark Pro Sergei Sokolov, Michael Saunders & Company Marina V Solo, Coldwell Banker Res R E Kristin Steffen, Chrome Realty LLC Richard Van Stephens, Chrome Realty LLC Peggy S. Stodola, Pike Brokerage Francesca Talamo Rossi, Barrett Realty, Inc Eric Teoh, Better Homes and Gardens Real Estate Atchley Properties Valerie Lee Terrell, LoKation Real Estate Christopher Charles Thompson, Fine Properties Ronald Vargas, Exit King Realty Monica Velez, Kona Realty Daniel Ryan White, RE/MAX Tropical Sands Donna L Wienckowski, Star Bay Realty Corp. Selina Marie Wiggins, Coldwell Banker Res R E Kathy L. Wilkes, Sarasota’s West Coast Realty Jo-Anne Yermak, Better Homes and Gardens Real Estate Atchley Properties
REALTOR® Association of Sarasota and Manatee, Inc. 2320 Cattlemen Road Sarasota, FL 34232
PRSRT STD U.S. POSTAGE PAID MANASOTA, FL PERMIT NO. 451
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S A
Expanded Statistical Report
Sarasota and Manatee Counties August 2019
T
he following reports from Florida REALTORSÂŽ detail the distressed market in Sarasota and Manatee Counties. The reports highlight the year over year change in short sales and foreclosures in single family homes and townhouses in both counties. For more detailed reports, visit www.myrasm.com/ statistics.
Monthly Distressed Market - August 2019 Single Family Homes Sarasota County
Closed Sales
August 2019
August 2018
Percent Change Year-over-Year
743
693
7.2%
$284,900
$287,500
-0.9%
20
21
-4.8%
$181,250
$207,000
-12.4%
6
2
200.0%
$194,950
$439,750
-55.7%
Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price
2015
2016
Traditional
2017
Foreclosure/REO
2018
2019
Short Sale
100% 90%
Closed Sales
80% 70% 60% 50% 40% 30% 20% 10% 0%
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
$500K $450K
Median Sale Price
$400K $350K $300K
$250K $200K $150K $100K $50K $0K
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
2015
2016
2017
2018
2019
Produced by Florida REALTORSÂŽ with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Monthly Distressed Market - August 2019 Single Family Homes Manatee County
Closed Sales
August 2019
August 2018
Percent Change Year-over-Year
633
579
9.3%
$319,000
$299,000
6.7%
14
11
27.3%
$238,200
$210,000
13.4%
7
3
133.3%
$215,000
$175,000
22.9%
Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price
2015
2016
Traditional
2017
Foreclosure/REO
2018
2019
Short Sale
100% 90%
Closed Sales
80% 70% 60% 50% 40% 30% 20% 10% 0%
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
$700K
Median Sale Price
$600K $500K $400K $300K $200K $100K $0K
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
2015
2016
2017
2018
2019
Produced by Florida REALTORSÂŽ with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Monthly Distressed Market - August 2019 Townhouses and Condos Sarasota County
Closed Sales
August 2019
August 2018
Percent Change Year-over-Year
330
311
6.1%
$232,755
$232,950
-0.1%
4
4
0.0%
$124,000
$217,750
-43.1%
1
0
N/A
$460,000
(No Sales)
N/A
Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price
2015
2016
Traditional
2017
Foreclosure/REO
2018
2019
Short Sale
100% 98%
Closed Sales
96% 94% 92% 90% 88% 86% 84% 82% 80%
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
$600K
Median Sale Price
$500K
$400K
$300K
$200K
$100K
$0K
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
2015
2016
2017
2018
2019
Produced by Florida REALTORSÂŽ with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Monthly Distressed Market - August 2019 Townhouses and Condos Manatee County
Closed Sales
August 2019
August 2018
Percent Change Year-over-Year
198
268
-26.1%
$207,000
$191,750
8.0%
4
4
0.0%
$131,200
$106,900
22.7%
1
2
-50.0%
$270,000
$182,500
47.9%
Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price
2015
2016
Traditional
2017
Foreclosure/REO
2018
2019
Short Sale
100%
Closed Sales
95% 90% 85% 80% 75%
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
$1000K $900K
Median Sale Price
$800K $700K $600K
$500K $400K $300K $200K $100K $0K
J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A
2015
2016
2017
2018
2019
Produced by Florida REALTORSÂŽ with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.