NOVEMBER 2010
Top Tech
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IMPORTANT DUES INFORMATION INSIDE - See Page 14
America’s Builder Is
GROWING! 8
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OA K H U R S T Single-family Homes from the upper $100s
866-475-3347
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WA L K E R’ S C OV E AT R I V E R PL AC E Single-family homes from the mid $200s
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C OV E R E D BR I D G E E S TAT E S
R EGENT L A K E
941-479-4937
866-475-3347
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Single-family homes from the mid $100s
SUG A R M I L L LAKES
Single-family homes from the low $100s
866-475-3347
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5 RY E W I L DE R N E S S E S TAT E S Single-family homes from the low $200s
941-896-8816
6 G R E Y H AW K L A N DI NG
Single-family homes from the upper $100s
941-896-8816
7 L E G E N D S B AY Single-family homes from the mid $300s
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Single-family homes from the mid $300s
OA K V I S TA S
941-479-4937
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PH I L L I PPI PI N E S
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Single-family homes from the upper $100s
2
Single-family homes from the mid $300s
866-475-3347 OL D TA M PA E S TAT E S
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941-896-8816
Single-family homes from the low $200s
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9 12 13
941-822-0243
12 R E D H AW K R E SE RV E
Single-family homes from the mid $300s
941-312-6470
13 L A N DM A R K E S TAT E S
Single-family homes from the mid $300s
866-475-3347
14 PA L M E R OA K S Single-family homes from the upper $100s
Move-In-Ready Homes Available Now! • 14 Communities in locations throughout Sarasota & Bradenton
A complete list of Move-In-Ready homes is available at HortonReadyNow.com For more information, please call 866.475.3347.
941-822-0243
941-567-4065
www.DRHorton.com/Sarasota
CGC1513647 Home and community information, including pricing, included features, terms, availability and amenities are subject to change without notice or obligation. Pictures are for illustration purposes only and will vary from the homes as built. Please contact a sales representative for details. Locations are approximate and not to scale.
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New. Now. Wow. Mallory Creek at Abacoa $2,500 Realtor® Bonus on Select Homesites*
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*The broker bonus is available only for purchase contracts accepted by Centex Homes between September 1, 2010 and December 31, 2010 at Riverwood, Venetian Falls, and Stonehaven, and is in addition to the standard Centex Homes broker commission. To be eligible for this bonus and for the standard broker commission, broker must register their client/ buyer as required by Centex Homes and sign Centex Homes’ standard registration agreement. The bonus and the standard commission will be paid following the buyer’s closing of the home purchase. Additional terms, conditions and restrictions apply. See a sales consultant for additional details. Prices shown are estimated base prices, do not include lot premiums or options and are subject to change without notice. Community Association fees required. The photograph depicts a model containing features or designs that may not be available on all homes. This offer is subject to change or withdrawal at any time without prior notice. This is not a solicitation to sell property. CBC057850 ©Centex Homes. All rights reserved.
Contents
Sarasota Realtor® Magazine Volume 7, Issue 11 NOVEMBER 2010
Sarasota Association of Realtors®, Inc. 3590 South Tuttle Avenue Sarasota, Florida 34239 Phone: 941/923-2315 FAX: 941/923-0191 www.sarasotarealtors.com
6
Top Technology
Realtors® are at the leading edge of technological tools and improvements, and this means SAR must always stay ahead of the advances, and current with the times.
10 RPAC Makes Strides
The Realtors® Political Action Committee has made a big difference for real estate professionals across the nation by supporting private property rights, and their business.
12 2010 TRIM Cycle
Sarasota County Property Appraiser Bill Furst explains the responsibilities of his office, plus the rights of local property owners in this year’s TRIM cycle.
Volume 7 • Issue 11 •NOVEMBER 2010
15 Market Stabilizes
4
The September 2010 sales statistics indicate the Sarasota market
has stabilized in terms of sales and prices during the recent quarter.
31 International Update
SAR’s International Council will host an International Roundtable on Nov. 10th, with timely updates and info. Don’t miss it!
Treasurer Laura Benson Michael Saunders & Company Immediate Past President William Geller RE/MAX Platinum Realty Chief Executive Officer Kathy Roberts Mission Statement The mission of the Sarasota Association of ® Realtors is to advance members’ professionalism through delivery of education and resources while upholding the Realtors® Code of Ethics. We are committed to be the leading advocate of real estate in the communities we serve by protecting private property rights and expanding relationships with individuals and organizations both locally and worldwide. Sarasota Realtor® is published monthly by the Sarasota Association of Realtors® Inc. Editorial Staff Director of Communications Ray Porter Director of Member Services Dan Andrews
Production Coastal Printing, Inc.
15- Sales and Listing Statistics
Sarasota Realtor® Advertising: For information on advertising rates and deadlines, contact Ray Porter at 941/328-1168 or ray@sarasotarealtors.com.
18- Commercial Investment Division 20- Education Programs Visit SAR on Facebook at www.facebook.com/SarasotaRealtors See a few of the photos this month on Page 24!
30- Membership News 31- International News
Subscriptions: The annual dues of every member of the Sarasota Association of Realtors®, Inc., includes a one-year subscription to Sarasota Realtor ® magazine. A yearly subscription for Sarasota Realtor ® magazine is available to non-members for $25, plus Florida sales tax. 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 Sarasota Association of Realtors®, Inc. All submitted copy is subject to editing. 2010 Copyright© by the Sarasota Association of Realtors®, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited.
32- Calendar of Events/Education
NOVEMBER 2010
Secretary Roger Piro Town & Country Realty
Governmental Affairs Director Marc Mansfield
12- Property Appraiser
28- WCR News
President-Elect Michael Bruno Prudential Palms Realty
Director of Professional Development Catherine McCaskill
10- Governmental Affairs
27- Broker Corner
President Erick Shumway RE/MAX Alliance Group
Director of MLS Information Systems Jesse Sunday
In every issue
24- On the SAR Scene
2010 Officers
Sarasota Realtor® Magazine
www.sarasotarealtors.com
SAR Installation & Holiday Luncheon set Dec. 8th The Sarasota Association of Realtors® will hold the Installation & Holiday Luncheon on Wednesday, Dec. 8th beginning at 11:30 a.m. at Michael’s on East, 1212 East Ave. S. (Midtown Plaza), Sarasota. The cost for the luncheon will again be priced at only $30 per person. During the business portion of the luncheon, the new SAR
Officers and Board of Directors for 2011, and the CID Officers and Directors will be installed. In addition, the SAR year will be reviewed, and awards will be presented for Realtor® of the Year, Humanitarian of the Year, Meritorious Service and the President’s Award. All SAR members are invited and encouraged to attend. Please register online prior to Dec. 1st.
Stephen Sanford: SAR Affiliate of the Month for November The November 2010 SAR Affiliate of the Month is Stephen Sanford of American Decorating Outlet. Stephen Sanford is owner of American Decorating Outlet/Granite Pros Kitchen and Bath. Steve has lived in the Sarasota/ Bradenton area since 1977. He is originally from Long Island, New York. He graduated from Manatee High School in 1982 and started a career in decorating and began doing renovation work as clients requested his help during their projects. He is married to his lovely wife Dr. Joanna Sanford, who is currently working in stem cell research. They have a son attending college in
Poland, plus two dogs at home. Steve enjoys sports, especially the Bucs, Rays, Lightning, and Seminoles. American Decorating Outlet has been known for window fashions, flooring, and interior finishes for over 20 years. ADO also provides full service design build remodeling as well as high quality cabinetry, granite countertops, sinks, faucets and installation, all at direct pricing. You can contact Steve at the next SAR meeting, or call at 941-922-0070. Steve’s email is adosteve@gmail.com, and the showroom address is 3607 Clark Road, Sarasota, FL 34233.
Stephen Sanford
Title-ist.
Representing Your Interests, From Concept To Close. When it comes to representing your interests in a real estate transaction, look to attorney Steven R. Greenberg. Steve is a Florida Bar Certified Real Estate Specialist with more than 25 years experience and handles hundreds of closings each year. Call us! A Firm Commitment To You.
Steven R. Greenberg
Board Certified Real Estate Attorney
2033 Main Street, Suite 500 Sarasota, FL 34237 Call: 941.365.6216
For Immediate Service: Linda Witt, Director of Marketing Call 941-586-4412
e-mail: REinfo@icardmerrill.com
Cover Story 6
High Tech
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How is real estate staying ahead of the curve? Are you a Droid or an iPhone? Do you prefer Twitter or Facebook? Are you Mac, with the new iPad or PC, waiting for the Slate? One thing’s for sure – most of the technology (and terminology) we talk about routinely today wasn’t even in existence even five years ago. And what we will be discussing and using routinely five years from now is probably only on the drawing board today. Drawing board? Aren’t we dating ourselves just a bit? The modern world has become a technological toy store, with new, improved smart phones released seemingly weekly, new advanced computers and software platforms always on the market, and the latest, greatest tech toys and gadgets on the shelves at every store visit. How can the real estate professional keep up? Technology has been, and probably always will be, the facilitator of efficient, informed and professional real estate transactions. Without the high-tech communications tools and software prevalent in today’s industry, Realtors® would be virtually unable to be successful working through the involved, detailed process that has evolved over the years. For this reason, SAR has strived to remain at the cutting edge of technology with our state-of-the-art tech training center, frequent classes by My Florida Regional MLS training staff, numerous classes and seminars dealing with day-to-day technology improvements, and our support staff for Supra Keys, smart phones and other tech gadgets. This month, SAR will also stage the first-ever Tech Expo (see opposite page, and P. 20 for details). Technology in real estate is all about capturing leads, marketing yourself properly, and maximizing efficiency. Just purchasing the latest, greatest tech toys is not enough. You need to use the tools in a way that produces results – makes you more efficient, more accountable, and frees up your time for the most important thing – selling real estate. Some good advice to those new to the profession, or those who feel lost when looking into a computer screen - seek out peers, family and friends who are “techy” for advice, and use the FAR Tech Helpline 407-587-1450 - to stay ahead of the curve. According to Brian Summerfield, writer with Realtor® Magazine Online, perhaps the most
NOVEMBER 2010
remarkable thing about online networking is the wide range of reactions it stirs up. Some real estate professionals swear by it. Others say it’s a diversion at best—and an utter waste of time at worst. Somewhere between these extremes is the reality of how the social Web is changing the profession. While it might not be a good fit for everyone, millions of people are using it to communicate, and its popularity shows no signs of fading.
If you’ve filled out a profile on Facebook or LinkedIn but are wondering what to do next, here’s some advice from practitioners and experienced social media users who know how to do it right. When used correctly, they say, blogs and social networks are powerful tools that can help broaden your real estate knowledge, strengthen your reputation, and ultimately expand your clientele.
Sarasota Realtor® Magazine
Continued on P. 9, See TECHNOLOGY
www.sarasotarealtors.com
Major Tech Expo offers exciting views of future The first-ever SAR Real Estate Tech Expo is set for Friday, Nov. 12th from 8:30 a.m. to 5:30 p.m. at Sarasota Alliance Church, 7221 Bee Ridge Road, Sarasota (two miles east of Interstate 75). The event promises to be an exciting, informative and highly educational experience for real estate professionals at all levels of the real estate technology curve. There will also be prize drawings at the end of the day. Two nationally renowned speakers - Max Pigman and Doug Devitre - will deliver keynote addresses (see Page 20 for details). In addition, there are many breakout presentations planned on a variety of topics. BREAKOUT TOPICS • Examine and Enhance Your Marketing Strategy Through Technology • Six Ways To Build Your Online Brand • Setting Up Your International Web Site with Immobel • SEO - Make Sure Your Web Site Gets Noticed • Understanding Today’s Consumer and Finding Customers Online • Overview of Realtors Property Resource (RPR) • Florida Living Network FREE Web Site & Technology Tips • Using Form Simplicity for Your Contracts • Real Estate “App”-etizers Smart Phone Apps • Smart Phone Technology Latest & Greatest Phones • Tweak Your Smart Phone for Maximum Performance • Create Clients for Life with Listingbook’s Client Servicing System • How To’s of Using Equator For Processing Your Short Sales • Using Video to Market You & Your Properties • Come On Over To My Pad - The New Generation of Tablet PCs PANEL PRESENTATIONS - Best Tips from Local Real Estate Company IT Experts (morning) - Technology I Use That Makes Me A Better Agent (afternoon) Why the emphasis on smart phones and apps? Did you know that every month, over 7 million listings are viewed by buyers and sellers via the REALTOR.com® Real Estate Search iPhone® App? You can download the app, plus a free mobile marketing guide to turn mobile leads into business, at REALTOR.com. In fact, a recent NAR survey shows 93% of real estate practitioners who are 40 years old or younger use a smartphone to conduct real estate business. About 86% of respondents older than 40 also use a smartphone. But aside from smartphones and apps, there’s a world of other valuable technology out there. Check online at www.sarasotarealtors. com for much more, and visit the Tech Expo to learn more!
KNOW YOUR OPTIONS Short Sales Foreclosures Bankruptcy
Call 941-366-1300 For A
FREE CONSULTATION Jefferson F. Riddell, Esq. (Board Certified Real Estate Attorney) Cynthia A. Riddell, Esq.
Riddell Law Group R L G
3400 S. Tamiami Trail, Sarasota, Florida www.toomuchdebtsarasota.com The hiring of a lawyer is an important decision that should not be based solely upon advertisements. Before you decide, ask us to send you free, written information about our qualifications and experience.
Standing up for homeownership
By Brian Summerfield Realtor® Magazine Online
Is the traditional model of homeownership in need of an overhaul? Is it even worth defending? Five years ago, these questions might have seemed absurd, but today, several commentators are posing them — and often coming down in favor of extensive and expansive changes to the system. For instance, the latest issue of Time magazine has a cover story controversially titled, “The Case Against Homeownership.” Author Barbara Kiviat begins the piece with the statement, “Homeownership has let us down,” and subsequently describes what she considers to be the “dark side” of this institution. I’ve seen similar arguments come out in recent weeks, but I’ll pick on Kiviat’s because it’s timely, it’s high-profile, and it condenses most of the criticisms that opponents of the status quo of homeownership have made recently into a single body of work. Here are the broad strokes of her case: 1. Perhaps the government shouldn’t incentivize homeownership so much. Kiviat argues that incentives such as the mortgage interest deduction make owning a home seem more desirable than it really is. 2. Homeownership encourages sprawl. Because most home owners live in single-family detached dwellings, development tends to expand out to places far from city centers, which creates more of a strain on resources. 3. The social benefits of homeownership are negligible. Although some benefits — such as higher academic performance of children — appear to be related to homeownership, one can find a similar correlation with, say, car ownership. And neither of these matter that much. 4. A home isn’t necessarily a safe investment. Kiviat says a loose lending environment caused housing prices to shoot up, and many ordinary consumers were left holding the bag when credit tightened up and values plummeted. One major issue with Kiviat’s overall argument is that she seems to be conflating a few other problems with homeownership. For instance, the institution of homeownership in and of itself did not cause the housing boom and bust. This was due more to special circumstances in the financial sector than it was to people wanting to own a home. The hazardous mortgage lending environment was largely a product of Wall Street’s efforts to bring in vast amounts of capital for investment without properly assessing risk. Without that, the housing bubble could never have been inflated to begin with. Also, the rise of suburban and exurban sprawl cannot be explained solely by Americans’ penchant for single-family houses, which exist in major cities too. (Plus, there’s no shortage of apartment complexes and townhomes in many suburbs.) Infrastructure investments, inexpensive land, and lower cost of living also played a role in development of the
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NOVEMBER 2010
M
The good news is that most Americans still see homeownership as a good thing, and even after the downturn, the reasons for opting to own a home over renting remain pretty much the same. outer rings of metropolitan areas. Additionally, Kiviat’s claim that homeownership (and ownership in general) plays a nominal role in creating social benefits such as better education and greater civic engagement doesn’t hold up. She asks if we should “realize that both home and car ownership are probably markers of something else, like a stable family life or living in a nice neighborhood?” She means this question to be rhetorical, but it really isn’t. One could easily turn it around: Shouldn’t we realize that a stable family life or living in a nice neighborhood are probably markers of home and car ownership? Can Kiviat or any other person making a “case against homeownership” provide a common, clear-cut example of a stable family life and a nice neighborhood not being accompanied by large rates of homeownership? Perhaps her most compelling argument is that the government distorts demand for homeownership through incentives. To be sure, there is room for honest disagreement about what and how much the government should do in the housing sector. But even here, Kiviat comes up short. First, she says “Washington lavishes homeowners with special treatment.” But compared to whom, exactly? Senior citizens? Manufacturers? The big investment banks that played a central role in the housing bubble? Why target home owners over any of these other groups? Near the end of the article, she vaguely advocates using “the levers of government to help create high-quality jobs.” Would that be “lavishing special treatment” on American workers, the majority of whom are presumably home owners? Finally, Kiviat doesn’t really offer an alternative to Washington’s current role in housing. Instead, she points out — and complains about — the fact that the mortgage interest deduction exists and that home owners typically don’t pay taxes on profits from the sale of a house. Is she advocating getting rid of the MID and taxing home-sale earnings? It would seem that way, but she doesn’t provide much detail on what might be done differently. The good news is that most Americans still see homeownership as a good thing, and even after the downturn, the reasons for opting to own a home over renting remain pretty much the same. But as these stories continue to come out, and they will, it will be critical for Realtors® to continue to make the case for homeownership.
Sarasota Realtor® Magazine
www.sarasotarealtors.com
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TECHNOLOGY From Page 6
You have to be a great agent first. One of the biggest mistakes that real estate pros can make in approaching the Web is to think that the simple act of creating an online presence—whether through a blog, a Facebook profile, or a fancy Web site—will in itself bring new business. In reality, to see results, you must already have strong business fundamentals and a solid marketing plan, says Matt Dollinger, a real estate performance coach who helps practitioners integrate new technologies into their business. “If you’re not a great agent, don’t worry about social media right now. It’s not the silver bullet for your business,” says Dollinger, who works for @properties in Chicago. “If you’re a bad agent or even an average agent, you won’t be able to fake it on the Web. People will be able to see right through you.” Part of being a great practitioner requires knowing what type of communication resonates with your customers, including when it might be better to use offline marketing vehicles. Even with the power of social media at your fingertips, be wary of using it for messages that are still best conveyed through personal or other means.
www.sarasotarealtors.com
VP/Mortgage Production Manager Sr. Loan Officer Urban Trust Bank Mortgage Division 235 N. Orange Ave. Suite 101 Sarasota, FL 34236 Office: (941) 893-4923 Cell: (941) 504-0823 Efax: (877) 338-1586 lmcconnell@urbantrustbank.com
John Morley, a real estate professional with the Morley Real Estate Group in Huntsville, Ala., and one of Realtor® Magazine’s 2009 “30 Under 30” honorees, enjoys social media but still gets most of his business from phone calls and TV and radio ads. “April 2009 was our best month ever in terms of new listings and sales contracts, and I found myself spending a tenth of the time that I usually do on Twitter and Facebook during that month,” Morley says. Even if you can increase your prospecting efforts through the Web, that won’t mean much if you aren’t able to get deals done and generate real profits. “You get leads because you’re on social media,” Dollinger says. “You close the transaction because you’re a great agent.” Locally, SAR’s Facebook presence has increased exponentially in the year since the initial page was posted. There are now nearly 2,000 regular viewers of the page - people with Facebook accounts who have become “Friends” of the SAR page and follow the various postings. SAR is also on Twitter, providing another avenue for information about SAR events, educational programs, news and information. Technology has allowed SAR to greatly diversify the methods of communicating with our members. What will the future bring? Only time (and new technology) will tell.
Sarasota Realtor® Magazine
NOVEMBER 2010
9
Governmental Affairs 10
RPAC is your Realtor® business insurance
y
By Marc Mansfield Governmental Affairs Director
Your Realtors® Political Action Committee (RPAC) raises funds voluntarily from members of the Florida Realtors® for use in issue campaigns and campaign contributions to political candidates at federal, state and local levels. The purpose of Florida’s RPAC is to assist the legislative and political efforts of NAR and Florida Realtors®. To promote and strive for improvement of government by encouraging and stimulating Realtors® and others to take a more active role in governmental affairs. To encourage Realtors® and others to understand the nature and action of their government and to support candidates for election to public office at the local, state and national levels who share the view of Realtors® on issues important to the real estate industry. Only because of past RPAC investments have the Realtors® been able to successfully fight off attacks on your livelihood. Your RPAC investment ensures continued success to fight off these attacks. RPAC is what stands between you and the constant threats to your business such as a sales tax on your commissions, higher taxes on your business and increasing the taxes on real estate. The Realtor® Political Action Committee makes sure your voice is heard. Investing in RPAC is an investment in your business. According to Florida Realtors® examples of RPAC successes include: - A reduction of filing fees for evictions from $265 to $180- the only fee reduction in the 2009-10 budget. This is an estimated $12 million dollar savings. - $400,000 to prevent, combat and publicize the dangers of unlicensed real estate activity in Florida. - Property tax assessment relief: the burden of proof is lowered to a “preponderance of the evidence.” This balances the scale in favor of the property owner when applying for reductions with the VAB. - $30.1 million for down payment assistance programs. - Passed Eminent Domain legislation restricting the ability of government to take private property. Florida now has some of the strictest guidelines in the nation. SAR has used RPAC contributions to support or oppose the following local issues: - Opposed Sarasota County Super Majority Amendment in 2007. - Supported the Civic Covenant Charter Amendment in 2008. - Supported efforts to continue the School Millage
NOVEMBER 2010
Tax in 2010. - Supported Florida Realtors® efforts to fight Amendment 4 in 2010 by purchasing yard signs, bumper stickers, palm cards and large 4 x 4 commercial signs. So, what’s in it for you? RPAC provides you with an opportunity to have a collective statewide and nationwide impact on the election of officials who will
Remember, you are not giving to the Republican Party or the Democratic Party you are giving to the Realtor® Party. Your RPAC dollars support candidates who have Realtors® best interest in mind, no matter what their party affiliation. shape legislation that affects your ability to do business. Of every dollar you contribute, up to 70 cents stays in Florida to support state and local candidates and issues. The remaining 30 cents goes to the national RPAC for grassroots activities and supporting candidates running for office on the federal level. When Realtor® members speak in one unified voice, it’s hard to ignore. That’s Realtor® leverage in the halls of Tallahassee and Washington, D.C. And, remember, you are not giving to the Republican Party or the Democratic Party you are giving to the Realtor® Party. Your RPAC dollars support candidates who have Realtors’® best interest in mind, no matter what their party affiliation. Support RPAC so RPAC can support your business!
Sarasota Realtor® Magazine
www.sarasotarealtors.com
3% commission plus
$2,500
Realtor® Bonus*
It’s everything your clients want, a resort-style community built with DiVosta quality. From September 1 to December 31, the following DiVosta communities are offering a $2,500 Realtor® bonus on select homesites. Visit us online at DiVosta.com
The Isles on Palmer Ranch
IslandWalk at the West Villages
Homes from the $170s
Homes from the $170s
1907 Burgos Drive Sarasota, FL 34238 941-926-3933
13446 Attaviano Street Venice, FL 34293 941-408-8179
*The broker bonus is available only for purchase contracts accepted by DiVosta Homes between September 1, 2010 and December 31,2010 at The Isles on Palmer Ranch and IslandWalk at the West Villages, and is in addition to the standard DiVosta Homes broker commission. To be eligible for this bonus and for the standard broker commission, broker must register their client/ buyer as required by DiVosta Homes and sign DiVosta Homes’ standard registration agreement. The bonus and the standard commission will be paid following the buyer’s closing of the home purchase. Additional terms, conditions and restrictions apply. See a sales consultant for additional details. Prices shown are estimated base prices, do not include lot premiums or options and are subject to change without notice. Community Association fees required. The photograph depicts a model containing features or designs that may not be available on all homes. This offer is subject to change or withdrawal at any time without prior notice. This is not a solicitation to sell property. CGC1505166 ©DiVosta Homes. All rights reserved.
Property Appraiser
LWRC-1
2010 Trim Cycle: Property Appraiser responsibilities and taxpayer rights THE 2010 TRIM CYCLE: PROPERTY APPRAISER
By Bill Furst, GRI, CRS, CRB Value Adjustment Board as of the September 7th filing deadline, a Sarasota County RESPONSIBILITIES AND TAXPAYER RIGHTS reduction of 47% from the 1,634 Property Appraiser
l
Late summer and early fall are an
petitions filed in 2009. Those 860
Late summer and early fall are an especially busy time at the Property Appraiser’s especially busy time at the Property petitions represent 1,051 parcels office. Not only do we have to submit a fair, equitable and timely filed tax roll to Appraiser’s office. Not only do we – a 53% reduction from 2009. the Department of Revenue by July 1, we also have to meet state mandated have to submit a fair, equitable Taxpayers receiving a revised deadlines for notifying taxpayers of their exemptions status and their property and timely filed tax roll to the TRIM notice are given a new 25 values. Department of Revenue by July 1, day window in which to file a On July 1st, 1,276 property owners were notified the exemption we also have to meet state mandated Value Adjustment Board petition. previously granted to them was disapproved. Most of the disapprovals As you read this, our appraisers deadlines for notifying taxpayers of related to homestead exemptions and resulted from investigations their exemptions status and their and exemption specialists are in conducted by this office based on citizen information, public records and the midst of the Value Adjustment property values. returned mail. Over 2,200 additional exemptions were canceled with the • On July 1st, 1,276 property Board hearing process. Many agreement of the property owners based on those investigations. owners were th, we mailed 276,000 Notices of Proposed Ad Valorem notified the taxpayer issues are resolved prior On August 13 exemption previously granted to to the hearing date. Those that Taxes, (TRIM Notices), to owners of real and tangible personal property. themThis mailing always leads to more returned mail and possible canceled was disapproved. Most of the cannot be settled to the satisfaction disapprovals related to homestead of the taxpayer proceed to hearing. exemptions. If an exemption is removed a revised Notice of Proposed exemptions and resulted from There a Magistrate, (an attorney Taxes is mailed to the taxpayer. for exemption, portability, investigations conducted by this classification and assessed value office based on citizen information, The posting of preliminary values on our website in mid‐July, exemption denials public records and returned mail. questions; an appraiser for market and TRIM result in increased telephone and walk‐in traffic during what we refer to Over 2,200 additional exemptions value questions), will review as the TRIM Cycle. This year following the TRIM Notice mailing we fielded 3626 were canceled with the agreement evidence presented at the hearing telephone calls, 20% fewer than in 2009. A goodly portion of those callers were of the property owners based on by this office and the taxpayer. asking for clarification of the changes to the TRIM Notice or the statutory 2.7% Subsequent to the hearing, the those investigations. increase in assessed value on homestead properties. 1387 calls were forwarded to Magistrate submits his or her • On August 13th, we mailed recommendation to the Value various departments for review including taxpayer meetings with appraisers. 276,000 Notices of Proposed Ad Adjustment Board. Valorem Taxes, (TRIM Notices), to This year, the Trim Cycle has also generated 860 petitions to the Value Adjustment The Value Adjustment Board th owners of real and tangible personal filing deadline, a reduction of 47% from the 1,634 Board as of the September 7 decisions may not be the final property. This mailing always petitions filed in 2009. Those 860 petitions represent 1,051 parcels – a 53% action on a valuation or exemption leads to more returned mail and reduction from 2009. Taxpayers receiving a revised TRIM notice are given a new 25 challenge. If a taxpayer or the possible canceled exemptions. If day window in which to file a Value Adjustment Board petition. Property Appraiser’s office an exemption is removed a revised disagrees with a Value Adjustment Notice of Proposed Taxes is mailed Board decision they may file an As you read this our appraisers and exemption specialists are in the midst of the to the taxpayer. Value Adjustment Board hearing process. Many taxpayer issues are resolved prior action in Circuit Court to challenge to the hearing date. Those that cannot be settled to the satisfaction of the The posting of preliminary that decision. taxpayer proceed to hearing. There a Magistrate, (an attorney for exemption, values on our website in mid-July, Traditionally, during the first portability, classification and assessed value questions; an appraiser for market exemption denials and TRIM result week of October, the Property value questions), will review evidence presented at the hearing by this office and in increased telephone and walk- Appraiser certifies to the Tax the taxpayer. Subsequent to the hearing, the Magistrate submits his or her in traffic during what we refer Collector the assessment rolls recommendation to the Value Adjustment Board. to as the TRIM Cycle. This year for the collection of taxes for following the TRIM Notice mailing that year, although revisions and The Value Adjustment Board decisions may not be the final action on a valuation we fielded 3626 telephone calls, corrections to the certified roll will or exemption challenge. If a taxpayer or the Property Appraiser’s office disagrees 20% fewer than in 2009. A goodly go on for some time. Following with a Value Adjustment Board decision they may file an action in Circuit Court to portion of those callers were asking the October certification, most of challenge that decision. for clarification of the changes to the Property Appraiser’s work is the TRIM Notice or the statutory devoted to next year’s assessment For more Traditionally, during the first week of October, the Property Appraiser certifies to information, 2.7% increase in assessed value roll. We encourage you to alert contact the the Tax Collector the assessment rolls for the collection of taxes for that year, on homestead properties. 1387 your customers and clients to the Property although revisions and corrections to the certified roll will go on for some time. calls were forwarded to various qualification and filing deadlines Appraiser’s office Following the October certification, most of the Property Appraiser’s work is departments for review including for 2011 exemptions – January 1, at 941.861.8200.devoted to next year’s assessment roll. We encourage you to alert your customers taxpayer meetings with appraisers. 2011 to qualify and March 1, 2011 and clients to the qualification and filing deadlines for 2011 exemptions – January This year, the Trim Cycle has to apply. Those deadlines will be 1, 2011 to qualify and March 1, 2011 to apply. Those deadlines will be here before also generated 860 petitions to the here before you know it. you know it. 12
NOVEMBER 2010
Sarasota Realtor® Magazine
Taxpayer Bill of Rights The Taxpayer Bill of Rights, Section 192.0105 Florida Statutes, was enacted by the Florida Legislature in 2000 to safeguard the “rights, privacy and property” of taxpayers. The Property Appraiser’s office has specific obligations under the various sections of this statute. THE RIGHT TO KNOW.‐ The taxpayer has a right to be mailed a notice of proposed values, taxes, non‐ad valorem assessments, millage rates, budget hearings, and special district levies – the TRIM Notice. THE RIGHT TO DUE PROCESS. – The right to an informal conference with the property appraiser. THE RIGHT TO REDRESS – The right to an extension to file a tangible personal property return upon making a proper and timely rquest. THE RIGHT TO CONFIDENTIALITY. – The right to have information kept confidential including social security numbers, sworn statement of gross income, federal tax returns, wage and earnings statements and other documents. For more information on the Taxpayer’s Bill of Rights go to http://dor.myflorida.com/dor/pro perty/taxpayers/pdf/ptbillofrights. pdf. NEED A SPEAKER FOR YOUR MEETING? BILL FURST WILL COME AND TALK WITH YOUR GROUP AND ANSWER YOUR QUESTIONS. To set up an appointment call our office at 941.861.8200 or email us at PA@SC‐PA.com
www.sarasotarealtors.com
LWRC-129 SAR Nov._Layout 1 10/8/10 12:50 PM Page 1
LAKEWOOD RANCH AMBASSADOR PROGRAM
Our ambassadors are here to help you and your clients discover everything Lakewood Ranch has to offer.
LETTER FROM Lakewood Ranch Realtor Liaison Barb Zdziarski
The Ambassador Royal Treatment for Realtors:
This month I’d like to introduce you to the newest member of our Realtor Liaison team, Sherri Spanos! Sherri joins us from the Lakewood Ranch Golf & Country Club where she was a food and beverage manager, but she also has a background in real estate. Our job is to make your job easier! Let us help welcome your clients to Lakewood Ranch and keep you informed and up to date about all Ranch happenings! It is also our job to protect you when your clients visit models on their own. When you fill out a central registration form at any one of our three information centers, you are covered when your clients visit any new home builder in Lakewood Ranch! Watch for our emails about upcoming Realtor and community events, plus lots of perks for helping us sell the beautiful community of Lakewood Ranch!
Please contact Barb or Sherri directly: barbara.zdziarski@lakewoodranch.com sherri.spanos@lakewoodranch.com
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Warm welcome to Realtors and prospects ensuring a positive first impression Grand slide presentation giving an in depth overview of the ranch Complimentary LWR tour with or without Realtor present LWR community brochure for your prospective clients to keep and peruse Maps and directions to any place of interest in the Ranch Community info highlighting amenities, schools, clubs, events and activities Complimentary VIP passes to a variety of amenities
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Complimentary event tickets Complimentary gift certificates to local main street merchants for clients Cookies & bottled water History & financial stability of LWR overview Current and complete update on builder’s feature homes available for quick move-in Working as a team – let us be an ally and a partner you can trust Ambassadors available 7 days a week as well as by appointment Monthly event calendar provided Protected registration with all Ranch builders
Don’t miss the 13th Annual Tour of Homes
Come tour over 20 model homes
NOV. 5-21 FOR FULL TOUR GUIDE GO TO WWW.LAKEWOODRANCH.COM
Play tag! Learn how at: lakewoodranch.com
Become a fan today, go to: www.facebook.com/ LakewoodRanch
Ambassadors are available by appointment or at any of our 3 Information Centers: University Parkway (941) 907-6000 Summerfield (941) 753-1469 | The Lake Club (941) 907-9088 Information Centers & Model Hours: Monday-Saturday 10 a.m.� 5:30 p.m. | Sunday Noon � 5 p.m. 941.907.6000 | 800.307.2624
IMPORTANT DUES INFORMATION – PLEASE READ CAREFULLY
2011 Dues Invoices are now available and due For the Who, What, When, Where, and Why’s regarding mandatory electronic online dues payments, please visit the SAR website at www.sarasotarealtors.com and click on the MEMBERS tab near the top of the page, FAQ’s, Dues and Accounts.
Changes Affecting 2011 Dues Only Realizing that many of our members are still struggling in this economy, SAR is implementing billing changes on a one time only basis which we hope will positively impact our members. We will be billing all charges on 1 invoice; however, the changes affecting late fees and past due dates will remain the same as last year: 1. Members will be given an additional 30 days to pay. Service will remain intact until 5 pm on February 15 instead of January 15. 2. A late fee will not be assessed on payments received by February 15.
Reinstatement or Application fees will be assessed for payments after 5 p.m. on February 15.
Due Dates, Termination of Services, and Refund Policy Due: December 15, 2010; Past Due: February 15, 2011, 5:01 p.m. Members with open balances a/o 5:01 p.m. on February 15, 2011 will be terminated and lose all Realtor® services, including Supra. Reinstatement before 5 p.m. on February 28, 2011 will require payment in full of all amounts due at date of termination, as well as a $75 reinstatement fee. Reinstatement after February 28, 2011 will require licensee to apply as a new member and pay the $150 application fee plus amounts owed at time of termination plus the FAR interest assessment. For a member whose license is placed inactive prior to Jan. 1st and who has paid their invoice, the inactive member will receive a full refund of the payments made. For a member whose license is placed inactive on or after Jan. 1st and who has paid their invoice, all payments received are non‐refundable.
Payment Methods: ELECTRONIC PAYMENTS ONLY!!! Two payment options: 1. Deduct directly from your checking account via: A. Debit card (MC,V) – the easiest way to have the payment deducted from your checking account. B. Electronic check – use same information as on your check. 2. Credit card (MasterCard, Visa, or American Express). Instructions for all payments go to www.sarasotarealtors.com click on MY SAR ACCOUNT at top of page under My Services, click on “Pay/View Bill Online” online charges will appear on your bank and credit card statements as “Realtor Association/MLS” to print a copy of invoice, click on the invoice number OR Come to the SAR offices and use our computer in the library which is programmed to open directly into the log‐in screen and has easy instructions located at the workstation for your use. Once payments are made online, they are updated to your account within 72 hours. We encourage you to go online to check the status of your account.
When and Where are dues invoices sent? Individual dues invoices will be available at http://www.sarasotarealtors.com (under MY SAR ACCOUNT at top of the page) on November 1st, where they can be viewed, printed, and paid. In addition, an email will be sent to all members notifying them when the invoices have been produced and are available for payment.
What will be included on this dues billing? Annual dues: Local, State, National, CID (if applicable), and voluntary RPAC.
14
NOVEMBER 2010
Sarasota Realtor® Magazine
www.sarasotarealtors.com
Property sales stable in September; distressed sales keep damper on prices Shumway. “We continue September 2010 looked “The one factor that continues to be said to have a market heavy on a lot like August 2010 in the Sarasota real estate market, a drag on the median sale prices has short sales and bank-owned with sales and prices virtually been the level of distressed sales. We property sales. Once those percentages drop, we should identical to the previous month. continue to have a market heavy on see a return to clear property In fact, September 2010 was also virtually identical to September short sales and bank-owned property price appreciation.” 2009 in overall sales and median sales.” - SAR President Erick Shumway The level of sales of distressed prices. properties (foreclosures and short sales) rose in Property sales in September September 2010 to 54.6 2010 stood at 547 total sales, percent, from last month’s compared to 567 last month figure of 47 percent. This and 554 last September. Prices was the highest percentage were also virtually identical. since the distressed market September 2010 saw a median began to show dominance sale price of $155,000 for single locally. Distressed market family homes and $150,450 sales previously reached a for condos. This compares high just below 50 percent in to $154,500 last month and late 2009, and have hovered $165,000 last year for single in the range between 44 and family homes; and $155,000 48 percent since that time. last month and $162,500 last The median sale price for year for condos. In effect, the market has essentially stood still for 12 months, with distressed sales continues to be less than half as much as minor fluctuations in prices month to month. There was an for normal arm’s length sales – in many cases approaching expected spike in sales experienced during the three months only a third as much. of the federal $8,000 homebuyer tax credit period. The property inventory level has remained fairly consistent for months, hitting 6,163 in September 2010, “We’ve observed a very steady local real estate market which remains one of the lowest monthly levels since late for the past 12 months,” said 2010 SAR President Erick summer of 2005. Shumway, noting the market stability is a welcome trend. Overall pending sales dropped slightly in September to The median sale price for single family homes over the past 12 months was $164,000, and for condos was 744 from last month’s figure of 816. $169,000. Last year at this time, looking back over the The months of inventory for single family homes in previous 12 months, the median sale price for single family September 2010 rose to 9.9 months from 9.5 months in was $165,000, and for condos was $200,000. August. The figure was 9.8 months in September 2009. There were 404 sales of single family homes in September This figure represents the number of months it would take 2010, compared to 408 last month and 399 in September to sell all available homes at the current pace. For condos, 2009. There were 553 pending sales last month, which the figure rose to 15.1 months from 13.5 months in August reflect future closing activity. The inventory rose slightly, 2010. It was also at 15.1 months in September 2009. Once the market reaches the 6 month level it is considered to be from 3,887 to 4,007. Condos saw 143 sales in September 2010, compared to in equilibrium between a buyers and sellers market. 159 last month and 155 in September 2009. There were 191 pending sales reported in September, slightly lower than last month’s 217, but higher than the 185 reported last Velashape for Size September. and Cellulite Reduction Triniti for Skin Tightening Distressed condo sales have dragged the overall median and Rejuvenation price down substantially, with normal arm’s length sales Elos Hair Removal garnering three-times as much as bank-owned properties, Medically-Supervised Weight Loss 2828 South US 41 Sarasota, Fl 34239 and twice as much as short sales on average. “The one factor that continues to be a drag on the median sale prices has been the level of distressed sales,” www.sarasotarealtors.com
Sarasota Realtor® Magazine
NOVEMBER 2010
15
Sarasota MLSSM Statistics September 2010 Single Family Condo
Unit Sales 700 600 500 400 300 200 100 0 Sep‐09
Oct‐09
Nov‐09
Dec‐09
Jan‐10
Feb‐10
Mar‐10
Apr‐10 May‐10
Jun‐10
Jul‐10
Aug‐10
Sep‐10
Single Family Condo
Median Sale Price $250,000 $200,000 $150,000 $100,000 $50,000 $0 Sep‐09
Oct.09 Nov. 09 Dec‐09
Jan‐10
Feb‐10 Mar‐10
Apr‐10 May‐10
Jun‐10
Jul‐10
Aug‐10
Sep‐10
Single Family
#Active
#Sold
%Sold
Average DOM
Median Sale Prices
Median Last 12 Months
Months Inventory
Pending Reported
%Pending
# New Listings
# Off Market
This Month
4,007
404
9.9
179
$155,500
$164,000
9.9
553
13.8
824
230
This Month Last Year
3,915
399
10.2
174
$165,000
$165,000
9.8
614
15.7
778
193
3,887
408
10.5
178
$154,500
$161,000
9.5
599
15.4
806
215
‐
4,222
‐
174
$164,975
‐
‐
5,699
‐
7,712
‐
Oct 94.4 ‐
Nov 94.1 ‐
Dec 94.2 ‐
Last Month YTD
Jan 93.0 94.4
2009 2010
Single Family – Sale Price Vs. List Price % Rates Feb 93.1 92.8
Mar 92.5 95.2
Apr 92.4 94.8
May 93.2 95.2
Jun 93.8 95.3
Jul 93.2 94.7
Aug 93.6 95.2
Sept 94.2 94.6
Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of Oct. 11th, 2010, including some listings in Manatee, Englewood, Venice, and other areas. Single-family statistics are tabulated using property styles of single-family and villa. Condo statistics include condo, co-op, and townhouse. Source: Sarasota Association of Realtors® 16
NOVEMBER 2010
Sarasota Realtor® Magazine
www.sarasotarealtors.com
Sarasota MLSSM Statistics September 2010 Single Family Condo
Inventory 5,000 4,000 3,000 2,000 1,000 0 Sep‐09
Oct‐09 Nov‐09 Dec‐09
Jan‐10
Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10
Jul‐10
Aug‐10 Sep‐10
Single Family Condo
Pending Sales 900 800 700 600 500 400 300 200 100 0 Sep‐09
Oct‐09
Nov‐09
Dec‐09
Jan‐10
Feb‐10
Mar‐10
Apr‐10 May‐10
Jun‐10
Jul‐10
Aug‐10
Sep‐10
Condo
#Active
#Sold
%Sold
Average DOM
Median Sale Prices
Median Last 12 Months
Months of Inventory
Pending Reported
%Pending
# New Listings
# Off Market
2,156
143
6.6
209
$150,450
$169,000
15.1
191
8.9
262
189
2,337
155
6.6
208
$162,500
$200,000
15.1
185
7.9
266
217
2,152
159
7.4
193
$155,000
$169,900
13.5
217
10.1
254
169
‐
1,645
‐
204
$165,000
‐
‐
2,171
‐
2,778
‐
Nov 92.3 ‐
Dec 93.1 ‐
This Month This Month Last Year Last Month YTD
2009 2010
Jan 91.0 92.5
Condo – Sale Price Vs. List Price % Rates Feb 90.2 92.4
Mar 90.4 92.5
Apr 92.2 93.2
May 90.1 94.2
Jun 91.4 93.7
Jul 92.1 94.2
Aug 92.4 93.5
Sept 91.5 93.2
Oct 92.4 ‐
Median sales price is the middle value, where half of the homes sold for more, and half sold for less. Listings sold were closed transactions during the month. Pending sales are sales where an offer has been accepted during the month, but the sale has not yet closed. Even though some pending sales never close, pending sales are an indicator of current buyer activity. DOM indicates the average number of days that sold properties were on the market before a contract was executed. www.sarasotarealtors.com
Sarasota Realtor® Magazine
Sarasota Association of Realtors® MLS NOVEMBER 2010
17
CID (Commercial Investment Division)
Commercial deals are still being done By Lee DeLieto, Jr. CID President
Like all phases of transition, there is always that uncomfortable cycle of time when it seems progress is slow and painful. In late 2006, we saw our commercial market peak. When asked how the commercial market was going, the answer was simple - incredible! Come early 2007, the market hit its brakes as if to take a breather after climbing a hill too fast. Unfortunately, it wasn’t a pause before ascending further. It was a pause for what was to be our descent as we grabbed hold of any tree roots within reach before sliding down the steeper side in a panicking pace. It soon became clear; we were not in Kansas anymore. Our responses turned from “Incredible” to “Who turned out the lights?” Fast forward this dismal era to January 2010. With three years of continued slides, scraped hands and worn out treads, we finally saw what appeared to be our valley of hope. It was as though prospective Buyers and Tenants had been watching us on television. After a few bad reruns of our pathetic downhill performance, someone must have tuned in to catch the season finale. The times they are a changin’ and so was the programming. Will the newest players on the SNL cast be funnier than ones they have replaced? Of course not. We need to warm up to them as they get into the groove while finding their signature skit. It’s all about transition and how you approach it. In our industry, nothing happens fast. In our industry, the reaction time to the cycle is like a slow moving freight train. Even with the heightened activity at the beginning of this year; it was not until the current quarter that we began to see true light at the end of the tunnel. The many signs of life may have escaped you, but they
Officers:
2010 CID Officers & Directors
President: Lee DeLieto, Jr., Michael Saunders & Company President-Elect: Anthony Homer, Lakewood Ranch Commercial Vice-President: Brad Lindberg, Hembree & Associates Past President: Jag Grewal, Ian-Black Secretary: Tim Mapp, Mapp Realty Treasurer: Linda Emery, Michael Saunders & Co. 18
NOVEMBER 2010
are there. In the past few months, the media has picked up on the brighter side of our industry. A number of mergers and even a new brokerage have been reported. Even the smallest of sales and leases are being announced. How about the recent $740 million acquisition by Lennar? Thirty-five percent of that was in commercial real estate. For a company that practically disappeared five years ago, they apparently see it as a time to buy with better days ahead. And lastly, maybe you simply noticed the little extra cash in your wallet and the better night’s sleep you may have had. All signs of encouraging growth and expansion. The market is picking up and deals are being done. Don’t get me wrong. I realize the experts still predict a slip in the market for another year or so. But there is no denying the market’s forward movement. Please notice I said forward, not upward. There is a difference. Although not a huge drop, the recent Sarasota County Office report shows an overall vacancy rate of 18.69 percent. Still very high, but the first reported annual decrease none the less. I think we can hang our hat on that good news.
Directors:
Sarah Olesen: Keller Williams Commercial- (1 year term - 2010) Pete Skokos: Norton, Hammersley, Lopez & Skokos (1 year term - 2010) Eric Massey: Michael Saunders (2 year term 2011) Diane Lee: Wagner Realty (3 year term - 2012) Lori Conable: Osprey Real Estate (1 year 2010)
Sarasota Realtor® Magazine
www.sarasotarealtors.com
SAR members gain appointments, recognition
Patricia Tan Several SAR members have received awards and appointments in recent weeks. Congratulations to all! Patricia Tan of Prudential Palms Realty was named the National Association of Realtors® President’s Liaison to the United Kingdom by NAR President Vicki Cox Golder. Liaisons chosen for each of NAR’s foreign Cooperating Associations are generally CIPS designees and, ideally, have some knowledge of the country’s culture and language.
Sylvia Golden Norris Tan has been a highly active member of the SAR International Council for several years. Judy Schomaker of RE/MAX Platinum Realty, a former SAR President, is also one of the NAR President’s Liaisons - for the nation of Spain. She was appointed in 2005. Anthony Homer of Lakewood Ranch Commercial Realty was named to chair the CIE Committee of My Florida Regional Commercial Real Estate. Homer is next year’s CID President
Anthony Homer and also a member of the SAR Board of Directors. Finally, the Florida Realtor® Magazine Editorial Excellence Award was given to Sylvia Golden Norris, attorney for the Sarasota Association of Realtors®, for her article entitled “Flips That May Flop” concerning the issue of property flipping. We applaud these SAR members, and encourage our membership to let us know about their achievements so we can recognize them!
Affiliates plan ‘Changing of the Seasons’ event Nov. 10th The first-ever “Changing of the Season” Open House Gala, is being presented by your SAR Affiliates on Wednesday, Nov. 10th from 5:30 to 9 pm. at SAR. All SAR Realtor® members are invited to attend this free event. You can also participate in the event by being an Event Sponsor for $20, or a Food Sponsor for $100. There will be a pasta station, a salad station, an assortment of appetizers, desserts, a cash bar (beer and wine) and a DJ for dancing. How Can You Be Part of This Event - To be an Event Sponsor the cost will be $20 per Affiliate Office which includes two members. Your firm’s name will be displayed on the overhead slide show presentation and you will be able to place a marketing promotional item in the goody bag. ($5 will be charged for each additional member
www.sarasotarealtors.com
over two). - To be a Food Sponsor the cost will be $100 per Affiliate Office which includes up to four members. Your firm’s name will be posted by all food stations, plus appear on the overhead slide show presentation, and you can place a marketing promotional item in the goody bag. ($5 will be charged for each additional member over four). The event is an Open House Gala and all SAR Realtor® Members are invited to attend at no charge. However, registration will be required. The Event will only be open to Affiliate Sponsors and SAR Realtors® Members If you have question about this event you can email Daniel Andrews - dan@sarasotarealtors.com - or call Dan at 3281152
Sarasota Realtor® Magazine
NOVEMBER 2010
19
Education Programs
SAR Tech Expo slated this month
What: SAR Tech Expo When: Nov. 12, 8:30 a.m. - 5:30 p.m. Where: Sarasota Alliance Church, 7221 Bee Ridge Rd. (about two miles East of Interstate 75) Cost: $25 by Nov. 10th and $30 at the door (includes lunch)
Max Pigman
Doug Devitre
Producer Systems. He has over 16 years of public speaking experience and has taught seminars to agents on marketing and technology all over the United States. Max spent a decade in real estate as both an agent and a Broker/Owner and has served as a board member of an MLS as well as Chairman of the Technology Task Force for his state association of Realtors®. Topics: “Going Mobile: “Doing Business Away From The Office”; “Examine and Enhance Your Marketing Strategy” Doug Devitre: President, Doug Devitre International, Inc., Chief Experience Officer . He has spoken in over 25 states in the U.S., in Canada, and Belize. Topics: “Technology and Social Media Solutions for Real Estate Agents”; “6 Ways to Build Your Online Brand” See Page 7 for more details on the SAR Tech Expo.
Appraisals 2010: Dealing with HVCC
Title: Appraisals 2010: How to Get sound Appraisals in the Era of HVCC (Home Valuation Code of Conduct) Date: Wednesday, Dec. 1, 9 to 11:30 a.m. Free to SAR Members; $10 others Are you losing deals because of bad appraisals from out-of-town appraisal management companies? Have lenders been turning down
Mary Patterson 20
This is what you have been clamoring - world-class speakers and technology gurus and suppliers all in one place at one time, all for one low fee of $30! KEYNOTE ADDRESSES: Max Pigman: Max Pigman is Vice President of Realtor.com and Top
NOVEMBER 2010
perfectly good buyers because of low-ball home valuation? Avoid another bad appraisal experience! Learn how to secure appraisals while maintaining HVCC compliance. Speakers for this seminar are: - Mary Patterson, SRA, Circuit Court Qualified Expert Witness, 18 years appraisal experience;
Kevin Goodale
- Kevin Goodale, Master Residential Appraiser, Circuit Court Expert Appraisal Witness; - Howard Greber, SRA, CRB, Realtor® for 38 years, residential real estate appraiser for 27 years; - Craig DiCecco, 13 years residential appraising experience. The course is sponsored by HomeBanc Mortgage, Voigt & Voigt
Howard Greber
Sarasota Realtor® Magazine
Craig DiCecco www.sarasotarealtors.com
Learn tax strategies that make good sense Title: Tax Strategies for the Real Estate Professional When: Jan. 19, 2011, 9 to 11 a.m. Where: SAR Main Auditorium Instructor: Kelly Clark, Bradford & Company Cost: $10 (SAR Members); $20 (Others) Many of us assume our accountants take care of our taxes, but forget that WE are the ones giving them the numbers and records they are using to prepare our tax return. This seminar is guaranteed to identify between $2,500 and $27,500 in NEW deductions that can be used right away to pocket thousands in tax savings. These deductions are based in tax LAW, but presented in simple English that all of us can easily understand. We do not bury you in legal jargon! • Stimulus Package Deductions – Learn about important Vehicle deductions. Plus, new first year auto depreciation deduction updates! • Increase your income – How to use the tax side of your business to increase your spendable income • Entertainment Strategies – 2 remarkable entertainment deductions available to Real Estate Professionals that may surprise you • Double Entertainment Deductions – How to safely transform 50% entertainment deductions into 100% deductions • Audit-Proofing - Documentation tips that will save you time, all the time • Help Your Accountant – How you can help your accountant work more effectively on your behalf
• Car Strategies - Six methods that produce Thousands in deductions. • Actual Expenses vs. IRS Method Mileage – New $25,000 - $250,000 automobile deductions you don’t want to lose. • IRS Audit - Reduce your chances – Red flags to avoid • Home Office Deduction –Why Real Estate Professionals may now safely qualify for this remarkable deduction and how it transforms personal commuting to deductible business miles • Learn how a 105 Medical Plan can turn your family’s medical expenses into tax-favored business expenses This seminar is presented by Kelly Clark of Bradford and Company, Inc., and excerpted from the Bradford and Company, Inc. Tax Strategies for the Self-Employed audio course (available for purchase).
How can you benefit from QuickBooks I?
Title: QuickBooks I for Real Estate Professionals Date: Dec. 15, 9 a.m. to 1 p.m. Location: SAR Main Auditorium Instructor: Abby Barboza Cost: $20 (SAR Members); $40 (others) This course is designed specifically for real estate brokers and agents. As business owners, you need to be able to take control of your finances. Learning QuickBooks allows you to be in control of gathering and entering of your financial information. It allows • Creating a Budget you to use basic accounting principles to your advantage. • Preparing Chart of Accounts Register today to become one of the smart real estate • Paying Bills & Printing Checks licensees who has total knowledge and understanding of basic elements of financial statements. Receive a FREE 30 days • Tracking Income & Expenses trial in addition to discounts on QuickBooks software when • Invoicing Expenses to Customers you attend the class. • Listing Customer Accounts Module I covers the following: • Property Management in QuickBooks • Basic Accounting Principles • Reconciling Escrow Accounts • Setting Up your Financial Activity in QuickBooks • Backing Up QuickBooks • Income & Expense Statements Module II is scheduled for March 9, 2011 and also costs • Balance Sheets $20. www.sarasotarealtors.com
Sarasota Realtor® Magazine
NOVEMBER 2010
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ALERT: GRI Course 1 coming to Sarasota in 2011! Title: GRI Course 1 Dates: Jan. 24-26 & Jan. 31-Feb. 2, 2011 - 8a.m. to 5 p.m. (varies daily) Credits: 45 hours salesmen’s postlicense credit, or14 hours continuing education credit and NAR Code of Ethics Requirement for 2012 Cost: $310 (by Jan. 10, 2011) After Jan. 10, add $25 In today’s competitive business environment you need more than just motivation and initiative to succeed, you need the advantage of the education you receive in the GRI program. This GRI series is offered by FAR through its Florida Realtor® Institute. All the instructors have been carefully screened for their knowledge of the subjects as well as for their teaching techniques—they’re the best real estate teachers in the state. Instructors for the Sarasota course are: Grant Simon (Finance); Steve David (Contacts to Contracts
CONGRATULATIONS! Dedication and hard work pay off!! We congratulate our members who have successfully completed the National Association of Realtors® designation and certificate programs, Accredited Buyer Representative (ABR), At Home with Diversity (AHWD), Graduate Realtor® Institute (GRI), Resort and Second Home Property Specialist (RSPS).
and Negotiating Skills); Chuck Bonamer (Professional Standards, Law, Business Planning and Fair Housing) and Ira Zlatkin (Tax). But don’t wait too long to sign up for GRI Course 1! SAR is the only Realtor® Association in the vicinity that’s offering any of the courses in 2011 and we expect the course to fill up quickly.
ACCREDITED BUYER REPRESENTATIVE (ABR) Madeline L. Hardie
Award-winning printing and customer service
Keller Williams Lakewood Ranch
AT HOME WITH DIVERSITY (AHWD) Marianne LeBar
Michael Saunders & Company
RESORT AND SECOND HOME PROPERTY SPECIALIST (RSPS) Jacqueline Robertson
Prudential Palms Realty
Specializing in pocket portfolios, die-cutting and foil-stamping done in-house
GRADUATE REALTOR® INSTITUTE (GRI) Malcolm Calladine Gary Coker Lisa Curt Faye Doyle Michael Klanot Eddy Jimenez Kathleen A. Maher Chris Moon Jacqueline A. Robertson Robert Eric Snyder W. Edwward Tarr, Sr. James Medenis 22
Signature Sothebys International Prudential Palms Realty Michael Saunders & Company RE/MAX Alliance Group Realty Executives Solutions Coldwell Banker Res. RE Coldwell Banker Res. RE Allen Real Estate Services Prudential Palms Realty Sarasota Foreclosures.com Inc. Michael Saunders & Company Wagner Realty
NOVEMBER 2010
FSC and SFI certified to help you go green
Sarasota’s Premier Real Estate Printer 1730 Independence Blvd., Sarasota, FL 34234 (941) 351-1515 • (941) 351-8639 F • www.coastalprint.com sales@coastalprint.com
Sarasota Realtor® Magazine
www.sarasotarealtors.com
MLXchange education gives you the edge Pre-registration is required for all MLXchange classes at www.mfrmls. com. All classes are hands-on in the SAR Technology Center (except for Entering and Updating). Registration is limited to 18. Please be sure that you will attend if you reserve a spot!
MLXchange Basic Nov. 1, Nov. 15, 9 a.m. to Noon Mandatory session for all new users. Learn the basic tools of MLXchange. It does the work for you, emailing the listings that match your client’s criteria automatically through auto notification. Learn the quick way to find a listing or view your inventory with one click right from the home page or create a professional CMA in less time than it takes to drive to work. - Review the home page features - Add a new client from the search module, saving a search and setting prospecting notification features - Searching and viewing listings, using the map, showing road, aerial, hybrid, and locator features - Adding additional search criteria - Viewing/printing/emailing reports, images, virtual tours, tax, map, driving directions and MLS listing history - Customizing hotsheet configurations - Search Tax - Creating a professional CMA
www.sarasotarealtors.com
- Personalize user contact information
Entering and Updating Listings in MLXchange Nov. 1, Nov. 15, 1:30 to 3:30 p.m. This class is mandatory if you will be entering and updating your own listings. You will be taught how to input and modify listings, enter photos, and add attachments along with valuable tips and techniques. - Listing maintenance authorization forms - Explain the importance of accurate data - Rules and Regulations - Review the profile sheet - Entering a new listing, using tax auto pop, reviewing the fields that have specific entries in the Rules and Regulations - Adding images, attachments, open house information, Supra Key and ShowingTime - Inventory watch-easiest way to modify the listings MLXchange Advanced Nov. 10, 9 a.m. to Noon Take MLXchange to the next level! In this session you will learn how to customize a search & display screens, personal website links and setup & save advanced searches. - Creating a custom template, adding fields, changing the display order - Foreclosure, fixer upper, and vacant
Sarasota Realtor® Magazine
listings with lockbox access - Customizing columns, adding/ removing fields, changing the column headers and changing the field sort order - Edit favorite reports, personalize home page resource link, setting defaults Design Web Pages, Capture Leads Nov. 10, 1:30 to 3:30 p.m. One of the most crucial components in today’s real estate professional’s day-today business is capturing and handling leads along with time management. This course will teach you how to set up your personal agent and client web pages, contact management and scheduling features that go handin-hand with a successful real estate business. - Changing the site style, domain name, search engine tools and redirecting web sites - Designing the web page content, adding featured properties - Illustrating the property search - Lead capture shows in today’s summary and schedule - Reviewing schedule, adding/editing appointments, tasks, adding notes and reminders - Plans manager, copying and modifying the action plan - Emailing the client private webpage - Customizing email templates
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On the SAR Scene
SAR members making the scene! Visit SAR on Facebook at www.facebook.com/SarasotaRealtors
SAR members are active, energized and out in force in the community! You can find hundreds of photos from our regular events at www.facebook. com/SarasotaRealtors Please visit soon and tag your friends and business associates! Sherri Spanos and Barbara Zdziarski of Lakewood Ranch Communities, one of the event sponsors, attend the Oct. 6th Affiliate Lunch ‘N Learn at SAR.
Wanda Kerr, SAR member and a member of the Green Realtors® Alliance of Sarasota, participates in the Sept. 25th Coastal Cleanup event.
CJ and Melissa Coury of HomeBanc Mortgage, an event sponsor, attend the Oct. 6th Affiliate Lunch ‘N Learn at SAR. 24
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Sarasota Realtor® Magazine
Cindi Shoe of Sarasota Catering and Pam McCrone of Premiere Inspections, event sponsors, attend the Oct. 6th Affiliate Lunch ‘N Learn at SAR. www.sarasotarealtors.com
Volunteer for 2011 Committees/Task Forces Now is the time to consider joining the leadership team by taking part in an Association committee or task force in 2011. You’ll make new contacts, enhance your professional abilities and have the opportunity to make a difference from behind the scenes. Additional task forces may become available once the Strategic Plan is completed. Watch for updates and other opportunities. Deadline for submittals is Nov. 15, 2010.
Affiliate Committee: Organize and support activities and events and provide input. An Affiliate or Auxiliary membership is required. (Meets as needed) Chair: Tina Darling Communications: Assures that SAR is the single source of accurate, reliable information on our industry in the Sarasota market. (Meets as needed) Chair: Debbie Judge Community Outreach: Evaluate, recommend and organize projects that benefit the community, enhance the image of Realtors, and provide opportunities for networking and camaraderie. (Monthly) Chair: Elaine Adair Green Realtors® Alliance of Sarasota: Develop education programs and resources to further the preservation of our environment and natural resources as it pertains to real estate. (Monthly) Chair: TBD Grievance Committee: Review ethics complaints and arbitration requests to make preliminary evaluation to determine if a formal Professional Standards Hearing is warranted. Annual training required to serve on this committee. (Monthly) Chair: Stafford Starcher International Council Steering Committee: Develop education programs, networking events and resources to prepare Realtors® for specific cultural and economic issues that are an integral part of working with the many buyers and sellers of foreign origin. (Monthly) Chair: Kristin Triolo Member Benefits: Review and analyze proposed programs, products, and services to evaluate the potential benefits to membership and the Association. (Meets as needed) Chair: Jayne Lupson Nominating Committee: Offer recommendations for SAR leadership positions (officers, directors, etc.) and select annual award recipients. (Meets as needed) Chair: Bill Geller Power Marketing: Plan and conduct weekly MLS Power Marketing sessions. (Meets as needed) Chair: TBD Professional Development: Provide input regarding education, sales and technology training, leadership development, new member orientation, and risk management. (Monthly) Chair: Michelle Crabtree Professional Standards: Enforce the Code of Ethics by conducting hearings on charges of unethical conduct and arbitration of contractual disputes, including entitlement to compensation in cooperative transactions. Annual training is required and service on the Grievance Committee is a prerequisite. (Meets as needed) Chair: Roger Piro Public Policy: Involve members in the political process through education, information, and grassroots involvement. (Monthly) Chair: Bob Milhoan Realtor®/Attorney Joint Committee: Plan periodic legal programs for members and provide monthly Q&A for SR Magazine. Duty to stay current with real estate laws and FREC changes. (Monthly) Chair: TBD RPAC (Realtor Political Action Committee): Conduct awareness campaigns, programs and activities to raise funds for the support of candidates and real estate issues. (Meets as needed) Chair: Greg Sheller SARPAAT (Political Action Advisory Trustees): Encourage Realtors to take a more active role in governmental affairs and inform members of the records of candidates for office. (Meets as needed) Chair: Bill Geller Sarasota Young Realtors®: Provide forum for young Realtors® to come together for meet and greets, power pitch sessions, and discussion and education on the state of the market, upcoming opportunities, and strategies for success. (Monthly) Chair: Shannon Rogers Scholarship: Solicit scholarship applications, conduct applicant interviews and select recipients. (Meets as needed) Chair: Iva Fadley-Dane Vendor/Data Access: To review and analyze requests for access to SAR members’ data from the MFR MLS database. (Meets as needed) Chair: Matt Cannon During the year, special task forces will be appointed to accomplish various projects. If you are interested, just indicate “various task forces” on the online form. To volunteer, visit www.sarasotarealtors.com/committees, or go to Page 29 of this th issue for the form. Please Fax to 921-2074 before Nov. 15 .
Alternative Dispute Resolution: Arbitration vs. Mediation explored By Jennifer Grosso, Esq. SAR Affiliate
Alternative dispute resolution (“ADR”) refers to any means of resolving a dispute outside of the public court system. In recent years, the use of ADR has been increasing as tight budgets and constraints on the judicial system have led many people to seek faster, more economical resolutions to legal disputes. The two main forms of ADR are mediation and arbitration. Many people hear these terms and have a general understanding that they are alternatives to litigation. However, what many people don’t realize is that in practice, these two forms of ADR are fundamentally different. While both arbitration and mediation employ the use of a neutral third party to resolve a dispute, the main difference between the two is that an arbitrator is appointed to make a final decision, while a mediator simply facilitates the resolution of the dispute. Additionally, an arbitration can be quite lengthy and may take over a year, while most mediations are conducted over the course of a day or two. Finally, an arbitration is significantly more expensive than mediation due to the process involved and the steps to reach the final hearing. This article takes a look at the arbitration and mediation processes to give some insight into how they differ. Arbitration is actually very similar to litigation. It is adversarial in nature, has a formal procedure for the exchange of information, can include numerous hearings, and concludes with a final decision being rendered in favor of one party. For this reason, arbitration comes at a high cost. Not only do the parties pay for many of the same legal tasks that would be necessary in litigation, parties are also paying for administrative fees as well as the arbitrator’s time. For example, the American Arbitration Association charges an administration fee of $995 for a dispute related to a claim in any amount less than $10,000 and a fee of $9,700 for a dispute related to a million dollar claim. Parties also need to pay for the arbitrator’s time which can be as high as $500 per hour. These charges are split by the parties to the arbitration. Despite these costs, many parties choose arbitration. Disputes are arbitrated only at the agreement of the parties, often through a contractual provision. Often parties will choose arbitration over litigation in order to keep the details of the proceedings confidential since arbitration documents are not a part of the public record. Arbitration may also be a good vehicle to resolve disputes involving complex or technical issues for which an arbitrator’s knowledge of a particular subject matter would be preferred rather than 26
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relying on a judge or jury who might not have expertise on the subject. Additionally, the arbitration process is generally faster than litigation, although some complex commercial arbitrations can take well over a year. The arbitration process begins by the parties selecting an arbitrator to act as the “judge” on the case. The arbitrator can be an expert in a particular area or have specialized knowledge regarding the issues involved in the dispute. Often there is a panel of three arbitrators selected. The parties will then agree on the rules for how the arbitration will proceed – they can set the timeline, set guidelines regarding the exchange of documents and information, limit the issues to be decided, and set the time and location for the final hearing. After these initial rules are put in place, the parties proceed with many of the same activities as litigation, including depositions, hearings and written discovery. The difference is that the arbitration usually proceeds much more quickly than litigation as the parties are on an agreed-upon time schedule. The arbitration process culminates in a final hearing at which the arbitrator hears arguments from both sides, reviews evidence, and renders a decision. The decision is a final, binding decision which can be appealed only on very limited grounds. Mediation, on the other hand, is more of a negotiation process. Although it can be adversarial at times, it is generally cooperative in nature. Mediation can be courtordered during the course of litigation, but frequently parties use mediation as an attempt to resolve a dispute before resorting to litigation. In either situation, mediation is voluntary – even if a court orders participation, the decision
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Continued on P. 29, see RESOLUTION
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By Wendy Cole Realtor® Magazine Online
If you’re like many real estate brokers and salespeople, you joined the profession because you enjoy working with people. You thrive on helping customers find their dream home or accomplish a successful sale. Yet, once in a while, a difficult customer will come along, forcing you to rethink whether you’re really a “people person” after all. Maybe it’s a couple of buyers whom you’ve accompanied to dozens of showings but who still won’t give any indication that they’re going to make a decision soon. Or an unrealistic seller who’s fixed on what his house was worth in 2005 and won’t accept a penny below that figure. In today’s tough market, you may be more willing than usual to deal with these troublesome clients because there are simply fewer buyers and sellers out there from which to choose. But the fact is that you and your sales force don’t have to be a doormat. By communicating your expectations up front and having a clear plan for responding when something goes awry, you’ll reduce frustrations across the board. Prepare for Conflicts in Advance After too many experiences with customers who tested her patience and confidence, Erica Cuneen, SFR, broker-owner of Beyond Properties in Oak Park, Ill., tried a new technique for preventing most conflicts from happening—or at least keeping them from escalating into full-blown battles. While attending a business workshop several years ago, she learned about a “State of Grace Document,” developed by business consultant Maureen McCarthy and her husband Zelle Nelson of Flat Rock, N.C. The document, available at www. stateofgracedocument.com, can be www.sarasotarealtors.com
customized to communicate your expectations, interaction styles, time frames, and conflict-resolution techniques to clients at the start of the relationship. “It’s a great tool for gauging at the front end whether a business relationship will work,” Cuneen says. “Sometimes I realize that it’s better not to go forward with someone. If it’s going to be really hard to work together, it’s just not worth the money.” In her document, Cuneen provides a frank assessment of her working style, warts and all: “I like to call myself a butterfly,” Cuneen writes. “I say this because it puts my flitting from one project to the next in a better light. The good news is that I am a great multitasker. The bad news is that I sometimes get a little unorganized.” She also lays out the warning signs that her stress level is rising: “If I feel crunched for time or I have too many balls in the air, I will get impatient if things are taking too long or if we are wasting time by getting off task.” Honesty Is the Best Policy The idea of revealing such personality quirks may sound unsettling to some, but Cuneen says the State of Grace Document tends to promote a sense of openness and trust with her clients and colleagues. Cuneen encourages prospective clients to fill out the document, disclosing the same sorts of revelations about their personalities and expectations. It’s not mandatory, but she says most clients do go through the process. And when they do, she learns valuable information about their behavior and hot-button issues. “I would have avoided a lot of problems with hypercritical sellers and overly demanding buyers if I had had this before,” she says. McCarthy says there’s value in addressing the potential for conflict at the beginning of a client relationship. “If something doesn’t
Sarasota Realtor® Magazine
happen as quickly as clients want or doesn’t turn out as they expected, part of their brain can shut off and they’re not as compassionate or understanding as they might otherwise be,” she says. Reaction Is Everything Sometimes, even with clients who’ve been a dream to work with, a high-tension scenario will arise. In the worst case, it’s your fault. But in any case, you need to know how to react. What do you do to restore balance? “Offer an apology when you’ve made a mistake,” says business development consultant Maribeth Kuzmeski, author of The Connectors: How the World’s Most Successful Businesspeople Build Relationships and Win Clients for Life (Wiley, 2009). “Then make things right with a peace offering. It doesn’t need to be extravagant. It can be as simple as a handwritten note or a coupon.” Regardless of who’s at fault, if a client is blazing mad your instinct may be to argue back, Kuzmeski says. But that’s a big mistake. Resist the temptation to explain why you’re right or why they’re overreacting. “Fighting anger with anger seldom works,” she says. “No matter how tough it is, do the opposite of what you feel like doing. Take a deep breath and remain calm.” The same strategy applies when a client comes to you to complain about one of your agents. “Ask what you can do to resolve the issue and be sincere,” says Scott Cary, a sales manager with PMZ Real Estate in Oakdale, Calif. “Many times, the client is right for being angry. So it may come down to you taking the client’s side over the agent’s.” Kuzmeski notes how important it is for you to be accountable on behalf of the brokerage. Take responsibility—even if you feel you haven’t done anything wrong—and offer solutions, she says.
NOVEMBER 2010
Broker Corner
Keep it civil: Responding to difficult customers
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WCR Fashion Show was a stunning success!
The Sept. 15th WCR Fashion Show - “Dazzle, Glamour, Dine & Glitter” - was a complete sellout, and gained rave reviews from attendees. Congratulations to the Fashion Show Committee and co-chairs Gail Shane and Melia Favorite, plus sponsors, Dillard’s and participants for a special 2010 event! Don’t forget - Nov. 19th is the Awards Ceremony and Farewell (new date and location - Michael’s On East), and Dec. 10th is the Installation of the 2011 Officers and WCR Board. - WCR President Karen Grant
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RESOLUTION From Page 26
to reach an agreement is up to the parties and the mediation can be terminated at any time. Mediation is significantly less expensive than arbitration or litigation. While the parties may incur legal fees in preparation for and attendance at mediation, the actual mediation is usually completed within a day. The mediator will charge a fee for his time, which is comparable to the rate charged by an arbitrator, and the mediator’s fee is split equally between the parties. There are no administrative fees. The mediation process begins by the parties choosing a mediator. A mediator may or may not be trained in a particular field or knowledgeable of the issues in dispute, but most mediators are specially trained in facilitating negotiations. The parties may prefer a particular mediator’s style over another. There is no formal process for mediation, no particular structure to be followed, and few set rules. The main rules are that mediation is confidential and the exchange of information is voluntary. Parties do not have to share information with each other or answer questions from the other party. Any information that is shared is private and cannot be used outside of the mediation. On the day of the mediation, the mediator usually will begin by gathering the parties in a joint session and allow each
party to hear the other’s position. This allows each party the opportunity to voice its version of the dispute directly to the opposing party. The mediator may also ask questions and try to narrow the issues with all parties present. The mediator will then break the parties up into private groups and facilitate the discussion between the parties in an attempt to reach a mutually acceptable resolution to their dispute. The mediator does not judge or make a decision on which party is right or wrong, and the mediator cannot force the parties into a settlement. The mediator simply helps the parties to focus on the relevant issues and facilitates negotiations by transmitting offers between the parties, clarifying information, and taking questions and proposals between the groups. Mediation concludes with either the parties reaching a settlement and entering into a settlement agreement or with the parties reaching an impasse and not resolving the dispute. If the parties enter into a settlement agreement, they typically expect that the parties will abide by it; however, there are situations when a party calls on a court to enforce a settlement agreement entered into at mediation. If the dispute does not settle at mediation, litigation often follows. As outlined above, arbitration and mediation, while both forms of alternative dispute resolution, are drastically different. Prior to agreeing to mediation or arbitration, parties need to evaluate the costs, goals, and risks involved to determine which form of ADR, if any, is best for the particular situation.
MAKE YOUR COMMITTEE CHOICES Yes, I would like to serve on: 1st Choice: 2nd Choice: 3rd Choice: Print Name: Company: Phone:
Fax:
E-mail: Return this form to SAR by November 15, 2010 or Fax to 921-2074 Review the committee choices on Page 25 of this issue, then fill out and Fax the form. www.sarasotarealtors.com
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Membership News
The Association is pleased to welcome new members!
Designated Realtors®
Barshinger, Katherine: Midnight Cove Realty Inc. Duggan, Lance: Duggan Realty Hovis, Allen: J Wood Realty LLC Moore, Mary: Green Lion Realty LLC Olofson-Ring, Allen: Porter Davis Real Estate Pierre, Claude: CP Realty International Sawyer, Scott: Millenia Realtors
New Members
Best, Garry: RoseBay Real Estate Inc. Brice, Philippe: Florida Gulf Realty, LLC Castleberry, Brian: Blue Coral Real Estate Group Clarke, Mary: Rossi & Company Inc. Conrad, Jennifer: Andrews & Associates Realty Erb, Samuel: Harry Robbins Assoc Inc. Erdman, Lisa: Coldwell Banker Res R E Evans, Penny: Coldwell Banker Res R E Foley, Meghan: Michael Saunders & Company Germond, Heather: Horizon Realty International Gold, Roni-Marie: RoseBay Real Estate Inc. Kofler, Carolyn: Coldwell Banker Res R E Korney, Danielle: Shirley International Realty Kurpiewski, Greta: Atchley International Realty Laver, Sean: Coldwell Banker Res Real Estate Laws, Robert: Keller Williams Lakewood Ranch Lichterman, Brian: Keller Williams Lakewood Ranch Lind, Christopher: Prudential Palms Realty Longo, J.Carson: Coldwell Banker Commercial NRT Martinetto, Wanda: Action Realty of Sarasota LLC McCrabb III, William: Coldwell Banker Res R E Miller, Susan: Action Realty of Sarasota LLC Parker, Ryan: Impulse Realty LLC Pearce, Elizabeth: Atchley International Realty Reece, Dale: Signature Sothebys Internat’l Schmidt, Philip: James M Hendrix Broker Taylor, Pamela: Signature Sothebys Internat’l Williams, Daniel: Michael Saunders & Company
Now With ...
Acha, Jose: Realty Express Afflebach, Beth: Michael Saunders & Company Antonetti, Gerry: Coldwell Banker Res R E Boyd, Jeannie: Atchley International Realty Caguiat, Pamela: RE/MAX Platinum Realty Casey, Nancy: Prudential Palms Realty Champney, Melody: Cunningham Prop Mgmt Corp Clemmer, Holly: Waterside Realty LLC DeVito II, Nick: Ian Black Real Estate Dickinson, Joan: Michael Saunders & Company Drewett, David: RealtyOne Alliance Dunnick, Deborah: Sandals Realty of Sarasota Gantley, Julie: Neal Communities Realty Inc. Gillette, Sandra: Signature Sothebys Internat’l Gleason, A Frances: Realty Executives Solutions Grigoli, Deirdre: Sandals Realty of Sarasota Hellstrom, Evelyn: Keller Williams Lakewood Ranch Jasmer, Daniel: J Wood Realty Kow, Raymond: Allison James Estates & Homes Lasky, Harold: Prudential Lakewood Ranch Rlty Laver, Sean: Coldwell Banker Res Real Est Lewis, Wendy: Waterside Realty LLC Maloof, Donna: Coldwell Banker Res R E Markov, Andrey: Millenia Realtors Matarese, Marnie: J Wood Realty McKeever, Liza: Atchley International Realty Medenis, James: Wagner Realty Miracle, Jana: Sandals Realty of Sarasota
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Murphy, Jay: Keller Williams Lakewood Ranch Ortega, George: Coldwell Banker Res R E Phelps, Howard: Nextage Lighthouse Realty Putrino, Regina: Sandals Realty of Sarasota Ridgeway, R Glen: Coldwell Banker Res R E Ridgeway, Lillian: Coldwell Banker Res R E Scherden, John: Keller Williams Lakewood Ranch Schouten, Paul: Keller Williams Lakewood Ranch Slifstein, Siegrid: Coldwell Banker Res R E Smith, Helen: Realty Executives Solutions Taulbee, Judi, Green Lion Realty LLC Taylor, Pamela: Signature Sothebys Internat’l Tobiason, Alan: Atchley International Realty Walker, Angela: Palm Oasis Realty and Mgmt Inc.
New Affiliates
Tropical Financial Credit Union 3050 Corporate Way Miramar, FL 33025 Phone Number: 954-517-7534 Representative: Florence Boni Specialty: Welcome to Tropical Financial Credit Union of South Florida. Tropical Financial is a not-forprofit, member-owned and member-operated financial cooperative. Servicing South Florida and Sarasota County. We’re dedicated to providing our members with the very best in financial services at extremely competitive rates and terms. We offer a full range of financial services designed to ensure sound financial planning, convenience and security to our credit union’s members. Many of our members prefer to do business with our credit union rather than banks because of the personalized attention we give each of our members. Each and every member receives exceptional value from our financial services. Email: FBONI@TFCU-FL.ORG
Pool Experts Inc. 4025 Cattleman Road #186 Sarasota, FL 34233 Phone Number: 941-896-0604 Representative: Wesley Baggett Specialty: You’ve made the right choice when you choose Pool Experts Inc. Be pleased to expect honest, reliable, competent, and professional service! Please give us a call when it comes to Pool Service, Repairs, or Pool Remodeling. Email: expertpoolrepair@yahoo.com
Imagine Design & Remodeling 1221 1st Street Sarasota, FL 34236 Phone Number: 941-650-6024 Representative: Keith Redding Specialty: Our accomplished design team incorporates creative expertise with impeccable attention to detail. From concept to implementation, our clients enjoy the personal commitment of a small company with the experience and capabilities of a large firm. Imagine Design is committed to meeting and exceeding our client’s expectations. From our unparalleled customer service to our leading edge design innovation, we are the new standard for fine interiors. We are ASID and IDS Allied. Email: kredding@verizon.net
Sarasota Realtor® Magazine
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An International Council Roundtable has been slated for Wednesday, Nov. 10th beginning at 8:30 a.m. at the Sarasota Association of Realtors® Main Auditorium. 8:30 to 9 a.m.: Continental breakfast & International Property Pitch Session (property must be non-U.S.) 9 to 11 a.m.: Updates from NAR Presidential Liaisons: - Patricia Tan (United Kingdom) - Judy Schomaker (Spain) Updates from NAR Business Groups: - CIPS (Certified International Property Specialist): Michelle Crabtree will describe her experience as a new CIPS designee - RSPS (Resort and Second-Home
Property Specialist): Paula Cashi - CRS/CRB (Certified Residential Specialist/Certified Real Estate Brokerage Manager): Daniel Kijner There will also be an update on SAR International Council Activities for 2011, featuring Janet Trefry and Kristin Triolo. They will provide updates on Expos, Institutes and Business Development Trips coming up for the new year. After the reports and updates, participate in an open discussion. Attendees will share experiences and hear what others have been doing in the international marketplace. Don’t miss the chance to hear what’s happening in and around Sarasota and the US in the global real estate business arena!
International
International Council Roundtable set Nov. 10th
The 2010 Sarasota International Real Estate Congress was another big success, attracting more than 100 participants, many of whom traveled from across the state and from out-of-state to attend. The keynote speaker was John Tuccillo, former NAR chief economist and a local expert on real estate issues.
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E DUCATION & E VENTS C ALENDAR Monday
Tuesday
Wednesday
Thursday
Friday
Nov. 1
2
3
4
5
8
9
10
11
12
19
9 a.m. MLX Basic 1:30 p.m. MLX Entering & Updating
9 a.m.– 4 p.m. New Member Orientation & Code of Ethics
7:30 a.m. Toastmasters
9 a.m. MLX Advanced 9 a.m.-International Roundtable 1:30 p.m. Design Web Page 5:30 p.m.”Change of Seasons”
8 a.m. Power Marketing (University Park Country Club)
8 a.m. Power Marketing (SAR)
PRSRT STD U.S. POSTAGE PAID MANASOTA, FL PERMIT NO. 451
NOVEMBER 2010
9 a.m. CID Commercial Marketplace
8:30 a.m. Tech Expo-Sarasota Alliance Church7221 Bee Ridge Rd.
Affiliate Gala Open House
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16
17
18
7:30 a.m. Toastmasters 9 a.m. Emerging Leaders Class #3
8 a.m. Power Marketing (SAR)
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25
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Dec. 1
2
3
8:30 a.m. CID General Membership 1:30 p.m. Listingbook Presentation
9 a.m. 5 p.m. GRAS Seminar-”Sustainable Affiliates Social-Gecko’s Sarasota” on Hillview
7:30 a.m. Toastmasters 9 a.m. Appraisals 2010 Seminar
Thanksgiving SAR Closed
8 a.m. Power Marketing (University Park Country Club)
9 a.m. CID Commercial Marketplace-Off Site
Thanksgiving SAR Closed
9 a.m. CID Commercial Marketplace
Note: All events/classes are at SAR, except where noted
My Florida Regional MLS Training
The classes E & U (Entering & Updating), Tools, Design Web Pages, MLX Intro, MLX Advanced, iMAPP, Custom Reports and CMA are all My Florida Regional MLS training classes offered at no cost to MLS participants. All classes (except E & U) are HANDS-ON in the SAR Tech Center. Please register for all MLS classes at the MFRMLS website: http://mfrmls.com. Click on Education and Training.
Sarasota Association of Realtors®, Inc. 3590 S. Tuttle Ave. Sarasota, FL 34239
9 a.m. MLXchange Basic 1:30 p.m. MLXchange Entering & Updating
Single Family Sales ‐ By Quarter
REO
Short
Arm's Length
1200 1000 800 600 400 200 0 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3
Condo Sales ‐ By Quarter
REO
Short
Arm's Length
500 400 300 200 100 0 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3
Single Family Median Sale Price
REO
Short
Arm's Length
$300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2007‐3rdQ 2007‐4thQ 2008‐1stQ 2008‐2ndQ 2008‐3rdQ 2008‐4thQ 2009‐1stQ 2009‐2ndQ 2009‐3rdQ 2009‐4thQ 2010‐Q1
Condos Median Sale Price
REO
Short
2010‐Q2
2010‐Q3
Arm's Length
$450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000
Source: Sarasota Association of Realtors®
$50,000 $0 2007‐3rdQ 2007‐4thQ 2008‐1stQ 2008‐2ndQ 2008‐3rdQ 2008‐4thQ 2009‐1stQ 2009‐2ndQ 2009‐3rdQ 2009‐4thQ 2010‐Q1
2010‐Q2
2010‐Q3
The Xtra Pages - Digital Version Only
2010 - Third Quarter Report
Single Family Condo
REO Sales ‐ By Quarter 600 500 400 300 200 100 0
2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3 Single Family
Short Sales ‐ By Quarter
Condo
400 350 300 250 200 150 100 50 0
2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3
Arm's Length Sales ‐ By Quarter
Single Family Condo
1200 1000 800 600 400 200 0 2007‐Q4 2008‐Q1 2008‐Q2 2008‐Q3 2008‐Q4 2009‐Q1 2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2 2010‐Q3
Statistical charts on this page repeat some of the information contained in the first two charts on the previous page, but we have included this display to reflect sales by type of sale rather than type of property. Source: Sarasota Association of Realtors®
Days on Market 300
Single Family Condo
250 200 150 100 50 0 Sep‐09
Oct‐09
Nov‐09
Dec‐09
Jan‐10
Feb‐10
Mar‐10
Apr‐10 May‐10
Jun‐10
Jul‐10
New Listings
Aug‐10
Sep‐10
Single Family Condo
1,200 1,000 800 600 400 200 0 Sep‐09
Oct‐09
Nov‐09
Dec‐09
Jan‐10
Feb‐10 Mar‐10
Apr‐10 May‐10
Months of Inventory 18.0 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0 Sep‐09
Oct‐09
Nov‐09 Dec‐09
Jan‐10
Aug‐10
Sep‐10
Condo
Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10
Sales Volume $200,000,000 $180,000,000 $160,000,000 $140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $0
Jun‐10 Jul‐10 Single Family
Jul‐10
Aug‐10
Sep‐10
Single Family Condo
Sarasota Association of Realtors® MLS
Sep‐09 Oct‐09 Nov‐09 Dec‐09 Jan‐10 Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10
Jul‐10 Aug‐10 Sep‐10
Annual Sales ‐ 2000 to 2009 Single Family
Condo
Total
11267 10562 9697 8167 7,596 6533
7036
6,841
6,504
6739
6358
6042
5,603
5,183
4,940
4,626
4,353
4,349 3,193 2,184
2,096
5820
3,671
3,922
3,721
2,564
2,120
2,005
1,194
2000
2001
2002
2003
2004
2005
2006
2007
2008
1,556
2009
Annual Median Sale Price ‐ 2000 to 2009 Single Family $351,000 $305,000
$342,000
$336,250
$301,225
$303,000
Condo
$320,000
$272,500 $226,000
$230,000
$225,000
$210,000 $172,500 $142,000 $132,300
$145,000
2000
2001
$191,000 $173,000
$191,000
2002
2003
$160,000
2004
2005
2006
2007
2008
2009