Sarasota Realtor Magazine November 2012

NOVEMBER 2012

The Official Monthly Publication of the Sarasota Association of Realtors速

Why Ethics Matters Page 6

2013 Dues Invoices Are Now Available and Due Dec. 15th - See Page 11

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Contents

Sarasota Realtor® Magazine Volume 9, Issue 11 NOVEMBER 2012

Sarasota Association of Realtors®, Inc. 3590 South Tuttle Avenue Sarasota, Florida 34239 Phone: 941/923-2315 FAX: 941/923-0191 www.sarasotarealtors.com www.facebook.com/SarasotaRealtors

6

Ethics Matters

Next year, we celebrate the 100th anniversary of the document

known as the Realtor® Code of Ethics. What does this Code

require of Realtors®, and why is it crucial to your success?

10 RPAC = Insurance

Governmental Affairs Director Marc Mansfield explains the

importance of RPAC, and why all Realtors® should invest in

this ‘business insurance’ for real estate professionals.

Volume 9 • Issue 11 •NOVEMBER 2012

12 Appraisal Answers All property must be appraised fairly and equitably, and

Sarasota County Property Appraiser Bill Furst explains

why this is so important to our industry.

15 Strong Sales Continue

Property sales in September 2012 in the Sarasota market were

significantly higher than last year at this time, and inventory levels once again sunk to a new decade low.

18 Recovery or Realignment?

CID President Brad Lindberg examines the current commercial

real estate market, and provides an analysis of the true picture

from the perspective of the CID.

12- Property Appraiser 15- Sales and Listing Statistics Visit SAR on Facebook at www.facebook.com/SarasotaRealtors See a few of the photos this month on Page 24!

24- SAR New Headquarters

Immediate Past President Michael Bruno Michael Saunders & Company

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 Membership and Administrative Services Dan Andrews Director of Information Technology Jesse Sunday Director of Professional Development Catherine McCaskill

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.

2012 Copyright© by the Sarasota Association of Realtors®, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited.

30- Membership

NOVEMBER 2012

Treasurer Peter Crowley RE/MAX Alliance Group

Sarasota Realtor® Advertising: For information on advertising rates and deadlines, contact Ray Porter at 941/328-1168 or ray@sarasotarealtors.com.

32- Calendar of Events/Education 4

Secretary Stafford Starcher RE/MAX Alliance Group

Production Coastal Printing, Inc.

10- Governmental Affairs

20- Education Programs

President-Elect Roger Piro Town & Country Realty

Governmental Affairs Director Marc Mansfield

In every issue

18- Commercial Investment Division

President Laura Benson Michael Saunders & Company

Chief Executive Officer Kathy Roberts

2012 SAR Officers

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Installation and Holiday Luncheon slated Dec. 5th SAR Officers and Directors for 2013 will be installed at the SAR 2012 Installation and Holiday Luncheon on Wednesday, Dec. 5th at Noon at Michael’s On East, 1212 East Ave. S., Sarasota. The annual SAR awards will also be presented.

Officers for 29013 will be: President - Roger Piro, Town & Country; President-Elect - Peter Crowley, RE/MAX Alliance Group; Treasurer - Stafford Starcher, RE/MAX Alliance Group; Secretary - Xena Vallone, Xena Vallone Realty; and Laura Benson, Michael Saunders & Company, Immediate Past President.

Directors for 2013 will be Steve Bailey, Coldwell Banker Residential; Michael Davenport, King Realty; Joe C. Hembree, Hembree & Associates; Debbie Judge, Michael Saunders & Company; Marianne LeBar, Michael Saunders & Company; Brad Lindberg, Sperry Van Ness Commercial; Margo MacKenzie, Wagner Realty; Renee Marquiss, Xena Vallone Realty; Bob Milhoan, Hembree & Associates; Christina Pitchford, Allen Real Estate Services; Carla Rayman, Coldwell Banker Residential; Drayton Saunders, Michael Saunders & Company; Bob Stanley, Coldwell Banker Residential; Kristin Triolo, Atchley International; and Amy Worth-Paul, RE/MAX Platinum Realty.

Doug Prescott: SAR Affiliate of Month Doug Prestcott of Cool Today - Plumbing Today - Energy Today has been named SAR Affiliate of the Month for November 2012.

Doug and his wife Sherry moved to the Sarasota area from Albany, N.Y. in 2010 after vacationing on Siesta Key in 2009. They have three grown daughters and three grandchildren.

Doug noted he looks forward to putting his many years of expertise to work for you and your clients. Cool Today is offering a gift to new Doug Prescott customers, so stop by soon at 6143 Clark Center Avenue!

An active affiliate member of SAR, Doug can be reached at 941-921-5581, or by email at DougP@cooltoday.com. The company web site is www.cooltoday.com

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Before you decide, ask us to send you free, written information about our qualifications and experience.

Cover Story

Ethics Matters

SAR joins NAR in promoting ethical practices

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For 100 years, Realtors® have subscribed to one of the oldest codes of ethics for any trade group in the United States. The Code of Ethics and Standards of Practice of the National Association of Realtors® (NAR) defines the manner in which Realtors® must conduct their business in both performance and service. It is considered by many to be the gold standard for defining ethical business practices.

In 1913, the Code was first written and instituted, following the professions of medicine, law, and engineering. Realtors® are, by definition, real estate professionals who have chosen to join the National Association and abide by its strict Code of Ethics.

Next year, in the centennial year of the Code, NAR and SAR have pledged even greater attention and celebration of the document and its importance.

What does the Code of Ethics mean to the public? It means that any Realtor® with whom the public works has voluntarily agreed to abide by a Code of Ethics, based on professionalism and protection of the public.

The Code of Ethics is a detailed document that spells out the professional responsibilities of every Realtor®.

The Code is also the written assurance of dealing with a professional who has the client’s best interest in mind.

The Code of Ethics consists of seventeen Articles and related Standards of Practice. It is not the most enthralling or entertaining document in your library of real estate materials. But it is certainly the most important.

Realtors® are subject to disciplinary action and sanctions if they violate the duties imposed by the Code of Ethics. Hearings and arbitration proceedings are held routinely at SAR in order to determine whether ethical standards have been violated, and to provide for discipline if required.

As a recent NAR letter spelled out, “The NAR was founded in 1908 by real estate practitioners determined to unite the real estate profession with the singular goal of establishing high ethical standards to protect buyers and sellers. Theirs was a vision of real estate as a profession, and of Realtors® as the guardians of the land.

“The fortitude and determination of Realtors® has helped enable us to persevere through two world wars, the Great Depression, and other difficult times.

Over the years the Code of Ethics has been variously described to as the founders ‘dream’ or ‘vision’ and as a ‘golden thread’ uniting the Realtor® family in common purpose. Others have characterized the Code as a torch, illuminating their pathway to professionalism, and those who teach and enforce the Code as “keepers of the flame.

“Because the Code is a living, dynamic statement guiding Realtors® in their daily professional lives it must be continuously scrutinized and enhanced to ensure its continued relevance in an ever-changing real estate environment.

“Unquestionably, a vibrant, professional, ethical real estate community is essential to encouraging and protecting property ownership and ensuring wise stewardship of our nation’s land and resources. The Code’s Preamble tells Realtors® and the public they serve that ‘the interests of the nation and its citizens require the highest and best use of the land and the widest distribution of land ownership’ as well as ‘the creation of adequate housing, the building of functioning cities, the development of productive industries and farms, and the preservation of a healthful environment.’”

The Code of Ethics is central to the Realtor® organization – so essential, in fact, that the NAR has mandated that all Realtors® complete a 2.5-hour training every four years as a condition of membership.

The current 4-year Cycle (Cycle 3) ends Dec. 31, 2012.

If you have not completed ethics training between Jan. 1, 2009 and Dec. 31, 2012, your Realtor® membership and related services, including MLS, will be suspended until you are in compliance. (See P. 20 in this issue for Continued on P. 8, See ETHICS

6

NOVEMBER 2012

Sarasota Realtor® Magazine

www.sarasotarealtors.com

The Orange County Convention Center in Orlando will be the site of the 2012 NAR Conference & Expo on Nov. 9-12.

Code of Ethics highlighted at NAR Conference & Expo This month, the 2012 NAR Conference & Expo comes to Orlando. The event is a one-stop extravaganza with more than 100 education sessions and a 400-exhibitor trade show that will make you think about your real estate business in a whole new way.

One way to explore the expo is by checking out the four pavilions: the Realtor® Pavilion, the International Second Home & Resort Pavilion, the Commercial Block, and the Green Pavilion. Education mini-sessions scheduled in each pavilion will help you enhance your knowledge and skills. While you’re exploring, be sure to check in at the Wells Fargo booth for a chance to win a 2013 Chrysler 300C. And at the Chase Bank booth, you can to enter to win $1,000 in gift cards.

You can still register to attend by visiting www.realtor.org and clicking the Convention & Expo link from the front page.

Orlando is a great location - just 90 minutes or so northeast from Sarasota - so why not take advantage of the proximity and give your real estate career an extra boost this year!

www.sarasotarealtors.com

While you’re in Orlando at the NAR Conference & Expo Nov. 9-12, why not brush up on one of the most important documents in real estate—the Realtors® Code of Ethics?

A Century of Pride and Professionalism: NAR’s Code of Ethics: Nov. 11, 2012; 9:30 a.m.–12 p.m. or 1–3:30 p.m.

Every four years, members of the NAR are required to complete a Code of Ethics training class. The deadline for the current four-year cycle is around the corner: Dec. 31, 2012.

The training enables you to identify principles in the Code’s Preamble—an aspirational statement about what the organization stands for—and to learn how the Code compares and contrasts with the precepts of general business ethics.

You’ll learn how to recognize potential Code violations and become familiar with NAR’s professional standards process— including the role of grievance committees, professional standards committees, and the association’s board of directors.

Visit Orlando! Getting your ethics requirement completed might never be so fun again!

Sarasota Realtor® Magazine

NOVEMBER 2012

7

Instructor Chuck Bonamer taught two Code of Ethics refresher classes to full houses at SAR in October.

ETHICS From Page 6

details on how you can complete this obligation, if you haven’t done so).

SAR strongly recommends that ALL members check their record at NAR to ensure no interruption of services and allow you ample time to get your record updated or complete a course via one of the four options.

The 6 Most Challenging Code of Ethics Articles According to Realtor® Magazine ethics columnist Bruce Aydt, these are the six most challenging articles in the NAR Code of Ethics.

Article 1: Fiduciary duty: To “protect and promote” the client’s interest is to focus on what’s best for the client you represent while being honest with all parties. Flipping attempts in short sales is one area in which listing agents must be watchful of sellers’ best interests.

Article 2: Disclosure of pertinent or material facts: Property condition disclosures are vital. Make sure property defects and adverse factors are disclosed to the buyer or tenant.

8

NOVEMBER 2012

Article 3: Cooperation with other brokers: “Cooperation” is not about being polite and is not a synonym for “compensation.” Standard of Practice 3-10 defines cooperation as sharing information about listings and making listings available for showings.

Article 9: Written agreements: The basic idea of Article 9 is to get everything in writing. Sometimes buyers and sellers have different notions of what should be included or excluded from the sale or lease. Always make sure these inclusions and exclusions are written into the transaction documents so that the parties are not relying on flyers, brochures, disclosure statements, or MLS listing information.

Article 12: True picture: Always present a true picture in your advertising, marketing, and other representations. This mandate applies not just to traditional marketing but also to Facebook, Google+, Twitter, texts, and other social media.

Check out Standard of Practice 12-5 for guidance on the right way to present your identity as a real estate professional in social media venues.

Article 16: Noninterference: Noninterference covers those difficult “solicitation” and “dealings” issues related to another Realtor®’s exclusively represented client. While there are exceptions, the Code’s key principle is not to deal directly with or solicit someone involved in an exclusive agreement with another Realtor®.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Governmental Affairs 10

RPAC is your business insurance!

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The Realtors® Political Action Committee (RPAC) is the nation’s largest, most successful and most bipartisan political action committee. Your voluntary investment is used to improve your bottom line through issue mobilization, political advocacy and by directly supporting candidates at the local, state and federal levels of government who champion the ideals and principles of Realtors®.

The purpose of Florida Realtors® PAC is: - To assist the legislative and political efforts of 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 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.

The Realtor® Political Action Committee makes sure your voice is heard. Investing in RPAC is an investment in your business.

On a state and local level, RPAC has helped to: • Defeat Amendment 4 (in 2010) • Protect commercial commissions through the foreclosure process; • Prohibit cities and counties from charging individual real estate agents a business license fee; • Fight and win a battle against a 100% increase in the real estate transfer tax.

• SAR has used RPAC contributions to support or oppose the following local issues: • Oppose Sarasota County Super Majority Amendment in 2007; • Support the Civic Covenant Charter Amendment in 2008; • Support efforts to continue the School Millage Tax in 2010; • Support Florida Realtors® efforts to fight Amendment 4 in 2010 So, what’s in it for you?

NOVEMBER 2012

RPAC provides you with an opportunity to have a collective statewide and nationwide impact on the election of officials who will 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.

Think of your RPAC contribution as an investment.

The best investment you’ll ever make in your business and yourself. RPAC is your best insurance against poorly designed small business and real estate legislation. If you are not giving your fair share to RPAC, you’re not doing all you can to better your profession, your business and yourself.

You will soon receive your 2013 dues invoice, which contains a voluntary RPAC amount. Please don’t forget to invest in this all-important business insurance. You won’t regret it!

Sarasota Realtor® Magazine

www.sarasotarealtors.com

IMPORTANT DUES INFORMATION – PLEASE READ CAREFULLY 2013 Dues Invoices Are Now Available and Due D e c . 15th 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.

 When and Where are dues invoices sent?  Individual dues invoices are available @ http://www.sarasotarealtors.com (under MY SAR ACCOUNT at top of the page), where they can be viewed, printed, and paid. In addition, an email was sent to all members notifying when the invoices were produced and available for payment.

 What is included on this dues billing?  Annual dues: Local, State, National, CID (if applicable), Global Business Council (if applicable) and voluntary RPAC.

 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. (please note that if your debit card is simply an ATM card without a MasterCard or Visa symbol it will not work). If you use a debit card with the MasterCard or Visa symbol, you will check “credit card” as payment type *(log‐in required).

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 and log in  Under My Services, click on “Pay/View Bill Online”  Follow the payment process to confirmation of a successful transaction  Online charges will appear on your bank and credit card statements as “Realtor Association/MLS Chicago IL”  To print a copy of your 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.

 Due Dates, Termination of Services, and Refund Policy  Due: December 15, 2012; Past Due: January 15, 2013, 5:01 p.m.  $50 late fee assessment on open balances as of January 15, 2013, 5:01 p.m.  Members with open balances as of 5:01 p.m. on January 15, 2013 will be subject to suspension of all Realtor® services.  Members with outstanding balances at 5:01 p.m. on February 15, 2013 will be terminated. Reinstatement will require payment in full of all amounts due at date of termination, plus a $150 SAR application fee to rejoin as a new member.  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.

www.sarasotarealtors.com

Sarasota Realtor® Magazine

NOVEMBER 2012

11

Property Appraiser

How was my property value determined?

“How did the property appraiser come up with that value on my property?!?”

The short answer is, by following the legal requirements laid out in Article VII of the Florida Constitution Title XIV ofCRB the Florida Statutes.

By Bill Furst, and GRI, CRS,

H

Sarasota County Property Appraiser

“How did thetax property appraiser up that withallthat valueison my The goal of the property system in Florida iscome to ensure property The short answer is, bygoal following the legal requirements valued property?!?” fairly and equitably.

To accomplish that the property appraiser laid all out in Article Florida1.Constitution and XIV reassesses property everyVII yearofasthe of January The factors used in Title deriving justof thespelled Florida value are outStatutes. for us in Section 193.011, Florida Statutes. Those factors cover sales, income, use, characteristics of the in property.

The goal of theand property tax system Florida is to ensure that all property is valued fairly and equitably. To accomplish that goal

Sales information is gathered from Clerk of the Court records, saleJanuary the property appraiser reassesses all property everylisting yearand as of 1. The factors used in deriving just value areand spelled out for us information from various databases, foreclosure records, the responses wein Florida Statutes.

Those cover income, receiveSection from the193.011, sales questionnaires we regularly mailfactors to all new realsales, property use, and characteristics of the property. owners.

Sales information is gathered from Clerk of the Court records,

Highestlisting and best information can be found in judicial opinions,foreclosure land use anduse sale information from various databases, regulations and the codes of we andreceive ordinances adopted by the County, the records, andbuilding the responses from the sales questionnaires toand all North new real owners. cities ofregularly Sarasota,mail Venice Portproperty and the Town of Longboat Key, and in knowledge of the current use of theinformation property based on be research visits.

Highest and best use can foundand in site judicial

we

opinions, land use regulations and the building codes of and

Incomeordinances informationadopted is collected income producing ownersVenice or can and byfrom the County, the citiesproperty of Sarasota, be extrapolated fromand sales prices using rate-of return if the North Port the Town of typical Longboat Key, andrequirements in knowledge of the ownerscurrent will not use shareoftheir data. the income property based on research and site visits.

Income information is collected from income producing property

Knowledge of characteristics, such as location, andusing additions or rate-of owners or can be extrapolated from condition sales prices typical deletions, requires research and physical inspections.

Section 193.023, Florida return requirements if the owners will not share their income data.

Statutes requires the property appraiser to physically inspect the property at least Knowledge of characteristics, such as location, condition and every 5additions years, butor wedeletions, can visit any time weresearch have reason believe the requires andtophysical inspections. characteristics of the property have changed.

Typical occurrences that appraiser can trigger to a Section 193.023, Florida Statutes requires the property site visit are: physically inspect the property at least every 5 years, but we can visit • any Permits renovation, newcharacteristics construction. of the property time for weremodeling, have reason to believeorthe • have Utility service changes. changed.

Typical occurrences that can trigger a site visit are: • Evidence newremodeling, improvements based on aerial imagery: pools, • Permitsoffor renovation, or new construction. outbuildings, etc.

• Utility service changes.

• Owner inquiries.

• Evidence of new improvements based on aerial • Unusual changes in sales prices in a neighborhood or for imagery: a type of pools, outbuildings, etc. property, up or down.

• Ownerin inquiries.

• Changes infrastructure: new roads, schools, commercial development.

• Unusual changes in sales prices in a neighborhood or for a type of

Our goal in visitingup a property is not to change the record but to verify it. If we do property, or down. find changes that affect value we update the reflect what is • Changes in infrastructure: newproperty roads, records schools,tocommercial actuallydevelopment. there.

Our goal in visiting a property is not to change the record but The cooperation of property owners is essential in accumulating information on all to verify it.

If we do find changes that affect value we update the of the eight factors in Section 193.011, Florida Statutes. If a landlord won’t share property records to reflect what is actually there. their rent roll information, we must estimate income. If the residential property Theallow cooperation of property essential in value. accumulating owner won’t us to inspect their new owners pool, we is must estimate Our information on all of the eight factors in Section 193.011, Florida statutory obligation is to assign fair value to all property in Sarasota County; to do Statutes.

If a landlord won’t share their rent roll information, we that we need true knowledge of that property.

must estimate income. If the residential property owner won’t allow us to inspect their new pool, we must estimate value. Our statutory

So, if you get a questionnaire from us asking for the details of your sale or a obligation is to assign fair value to all property in Sarasota County; to For more revenue verification request for your income producing property, or if your see that we need true knowledge of that property. information, one of do our appraisers in your neighborhood or on your property verifying use and So, if remember you get a that questionnaire usofasking forthat thethe details ofisyour contact the characteristics, we’re doing from our job ensuring tax roll sale or a revenue verification request for your income producing Property fair and equitable to the benefit of all Sarasota County property owners.

Appraiser’s office at 941.861.8200.

12

Section 193.011, Florida Statutes: Factors to consider in deriving just valuation. – (1) The present cash value of the property, which is the amount a willing purchaser would pay a willing seller, exclusive of reasonable fees and costs of purchase, in cash or the immediate equivalent thereof in a transaction at arms-length; (2) The highest and best use to which the property can be expected to be put in the immediate future and the present use of the property, taking into consideration the legally permissible use of the property including any applicable judicial limitation, local or state land use regulation, or historic preservation ordinance, and any zoning changes, concurrency requirements and permits necessary to achieve the highest and best use; (3) The location of the property; (4) The quantity or size of the property; (5) The cost of the property and the present replacement value of any improvements thereon; (6) The condition of the property; (7) The income from the property; (8) The net proceeds of the sale of the property, as received by the seller, after deduction of all of the usual and reasonable fees and costs of the sale, including the costs and expenses of financing, and allowance for unconventional or atypical terms of financing arrangements. When the net proceeds of the sale of any property are utilized, directly or indirectly, in the de termination of just valuation of the realty of the sold parcel or any other parcel under the provisions of this section, the property appraiser, for the purposes of such net proceeds attributable to payments for household furnishings or other items of personal property.

NEED A SPEAKER ON VALUATION? BILL FURST WILL MEET WITH YOUR GROUP AND ANSWER YOUR QUESTIONS.

Call our office at 941.861.8200 or email PA@SC-PA.com to set an appointment for more information on property valuation.

property, or if your see one of our appraisers in your neighborhood or on your property verifying use and characteristics, remember that we’re doing our job of ensuring that the tax roll is fair and equitable to the benefit of all Sarasota County property owners.

NOVEMBER 2012

Sarasota Realtor® Magazine

www.sarasotarealtors.com

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50% Advance REALTOR® Commissions Call 866-290-9110 or visit centex.com to learn more.

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Commission incentive available on contracts accepted by Centex between 1/01/12 and 12/31/12. In order for Realtor to eligible for 50% advance commissions, buyer must put down 10% (with the exception of FHA/VA and NOLA). NOLA/cash verification must be presented. Broker must sign the Advance Commission Request Form. Brokers are responsible for repaying all advance commissions for homes that do not close. This offer is subject to change or withdrawal without prior notice. Prices shown are estimated base prices, do not include lot premiums or options and are subject to change without notice. Community Association fees required. Additional terms, conditions and restrictions apply. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood or any completed improvements being offered. Please see a sales associate for details. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. ©2012 PulteGroup, Inc. All rights reserved. 7/2/12. CBC057850.

Third Quarter Distressed Market Report SAR continues to publish a full quarterly report on distressed property sales, complete with several pages of additional charts, on our web site (www.sarasotarealtors. com) and in the digital version of the monthly magazine (also posted on the front page of our web site, with a link e-mailed to SAR members the week prior to the magazine printing date).

For the third quarter of 2012, the percentage of distressed sales in the Sarasota market rose somewhat to 36.4 percent from the second quarter 2012 figure of 32.4 percent.

Looking at the larger picture, in 2011 the third quarter saw distressed property sales at 38.8 percent. Two years ago - the third quarter of 2012 - the figure was 51 percent of all sales, easily the worst period of the market downturn.

The bottom line - foreclosures and short sales in the Sarasota market continue to have an impact on the overall market health, but the levels seem to have stabilized.

The disparity in prices between foreclosures and normal market sales is still striking, as it has been for several quarters. There are still clearly two distinct local real estate markets - one for distressed properties, and the other for non-distressed properties.

For the third quarter of 2012, the median sale price for a single family home in foreclosure was $104,000. For a typical short sale, the price was $123,500. For the normal market sale, the price was $227,500. In the second quarter, the numbers were very similar ($93,000, $130,000 and $235,250).

For condos, the bank-owned properties went for a median price of $80,000 in the third quarter. The short sales brought $75,000, while the traditional market transactions were at $235,000. These numbers were also close to the second quarter ($83,000, $89,000 and $240,000).

Distressed properties continue to represent both a negative and a positive in the current local market - a negative because they reflect the continuing difficult economic times for many families; a positive because they provide opportunities to

The bottom line - foreclosures and short sales continue to have an impact on the overall market health. purchase properties at lower initial cost.

Combined with the obvious benefits of living in Sarasota, the lower prices in the market act as a magnet for families moving to the area, as well as investors.

According to the Sarasota Herald-Tribune, which cited a RealtyTrac Inc. analysis, the housing markets in Sarasota and Manatee counties are in better shape today than four years ago.

“The two counties posted improved scores in three of five key categories analyzed by RealtyTrac Inc. to grade the housing health of more than 900 markets nationwide,” the article noted. “RealtyTrac found that 65 percent of local housing markets are worse off today than in 2008 -- the middle of the Great Recession and the start of the housing bubble’s dramatic leakage -- while 35 percent are doing better.

“Sarasota’s and Manatee’s negative marks came from lower average home sale prices and for higher unemployment rates, the result of an unexpected and prolonged economic slide ... but both counties also showed lower foreclosure inventories, fewer foreclosure filings and lower levels of distressed property sales.”

There is also a downward trend emerging in the percentage of distressed properties currently listed in the MLS. The current monthly percentage is 15.4 percent of listings as foreclosures or short sales. This is an improvement over the first of the year, when it stood at more than 17 percent of the market.

As this percentage decreases and the overall inventory remains at a decade low figure, median sales prices should start to increase, one strong sign of a recovering market.

Total Sales ‐ By Quarter

REO

Short

Market

2000 1800 1600 1400 1200 1000 800 600 400 200 0 2010‐Q1

14

2010‐Q2*

NOVEMBER 2012

2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

Sarasota Realtor® Magazine

2011‐Q4

2012‐Q1

2012‐Q2

2012‐Q3

www.sarasotarealtors.com

M

Sarasota market cools slightly in September

M

Members of the Sarasota Association of Realtors® sold 648 properties in September 2012, up almost 14 percent from last September, when only 570 transactions were closed. The figure was down almost 21 percent from the 819 sales in August 2012, continuing the historic trends that normally show a sales lull in the early autumn.

The category totals were 500 single family homes and 148 condos sold, compared to last September when only 430 single family and 140 condos were sold. This summer was an exceptional one for local Realtors® who normally have a respite after the spring season. This year, traffic at open houses has been heavy and multiple offers on available properties have become the norm. Part of the reason for this has been the continuing decline in the inventory of available properties on the market.

“Our inventory is now down to 3,460 – the lowest level since 1998,” reported SAR President Laura Benson. “The downward trend in inventory started four years ago, when we had over 9,500 properties for sale. We have a great demand for homes and potential sellers should know it’s a great time to list their properties.”

The available inventory of homes on the market once again dropped to yet another decade low, about 1 percent below last month’s total of 3,504. Last year at this time, the inventory was at 4,430 properties for sale – more than 20 percent higher than the current total.

Pending sales (which represent properties that went under contract during the month) dropped somewhat in September 2012 to 844 from last month’s total of 953. But the figure was still higher than last September, when there were 723 pending sales reported. This year’s activity is 16 percent higher than last year at this time. Pending sales are a good indicator of future closings.

“There is a lot of good news out there in the Sarasota marketplace, and the real estate industry has returned to a much healthier place than we were four or five years ago,” said Benson. “For the agents who experienced the down times, this has become a great period of rebound for the market.”

The median sale price for single family homes in September 2012 was almost identical to August 2012 at $169,950, while condo prices surged to $175,400 from last month’s $149,000. Last year at this time, median prices were at $165,000 for single family homes and $140,000 for condos.

Examining the longer trend lines, the median price for single family homes for the past 12 months was at $170,000. For condos, the median for the past 12 months stood at $167,250. Last year at this time, the 12-month rolling median prices were at $157,500 for single family homes and $163,000 for condos. The numbers indicate a gradual upward price trend.

www.sarasotarealtors.com

“We have a great demand for homes and potential sellers should know it’s a great time to list their properties.”

- SAR President Laura Benson

For the year-to-date median prices, encompassing the first nine months of 2012, the picture was even brighter $174,000 for single family and $178,800 for condo. The figures were both higher than last year at this time, when they were at $156,100 for single family and $165,000 for condos (11 percent and 8 percent higher, respectively).

Across the nation, prices are continuing to strengthen, according to the CoreLogic Home Price Index (HPI).

The index showed that home prices nationwide, including distressed sales, increased on a year-over-year basis by 4.6 percent last month. This change represents the biggest yearover-year increase since July 2006. The analysis showed that all but six states are experiencing price gains.

The months of inventory remained near 10-year lows.

The September figures were 4.4 months of inventory for single family homes and 8.5 months for condos. Months of inventory represents the time it would take to deplete the current inventory at the current sales rate. Last September, there were 6.7 months of inventory for single family homes and 11.1 months of inventory for condos. At the worst point of our market in November 2008, there were 24 months of inventory for single family homes and 41.7 months for condos.

Currently, only 534 properties for sale in the MLS are listed as short sales or foreclosures, down about 6 percent from last month’s figure of 570 properties. This represents about 15.4 percent of available properties, down from last month’s figure of 16.3 percent and down from the start of the year when the figure represented 17 percent of the market.

Sarasota Realtor® Magazine

NOVEMBER 2012

15

Sarasota MLSSM Statistics - September 2012 Single Family

Unit Sales

Condo

700 600 500 400 300 200 100 0 Sep‐11

Oct‐11

Nov‐11

Dec‐11

Jan‐12

Feb‐12

Mar‐12

Apr‐12

May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

Single Family

Median Sale Price

Condo

$250,000 $200,000 $150,000 $100,000 $50,000 $0 Sep‐11

Oct‐11

Nov‐11

Dec‐11

Jan‐12

Feb‐12

Mar‐12

Apr‐12

May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

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

2,205

500

22.7

158

$169,950

$170,000

4.4

634

28.8

659

145

This Month Last Year

2,869

430

14.9

168

$165,000

$157,500

6.7

547

19.0

665

176

2,221

587

26.4

163

$169,945

$169,000

3.8

725

32.6

649

155

‐

4,852

‐

169

$174,000

‐

‐

6,605

‐

5,798

‐

Oct 95.1 ‐

Nov 95.3 ‐

Dec 94.8 ‐

Last Month YTD

2011 2012

Jan 94.5 95.4

Single Family – Sale Price Vs. List Price % Rates Feb 94.1 94.2

Mar 94.7 94.6

Apr 94.1 94.7

May 94.2 95.1

Jun 94.3 95.2

Jul 94.1 94.2

Aug 94.5 95.3

Sept 95.2 95.2

Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of Oct. 10th, 2012, 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 2012

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Sarasota MLSSM Statistics - September 2012 Single Family Condo

Inventory 3,500 3,000 2,500 2,000 1,500 1,000 500 0 Sep‐11

Oct‐11

Nov‐11 Dec‐11

Jan‐12

Feb‐12 Mar‐12 Apr‐12 May‐12 Jun‐12

Jul‐12

Aug‐12

Sep‐12

Aug‐12

Sep‐12

Single Family Condo

Pending Sales 900 800 700 600 500 400 300 200 100 0 Sep‐11

Oct‐11

Nov‐11

Dec‐11

Jan‐12

Feb‐12

Mar‐12

Apr‐12

May‐12

Jun‐12

Jul‐12

Condo

This Month This Month Last Year Last Month YTD

2011 2012

#Active

#Sold

%Sold

Average DOM

Median Sale Prices

Median Last 12 Months

Months of Inventory

Pending Reported

%Pending

# New Listings

# Off Market

1,255

148

11.8

191

$175,400

$167,250

8.5

210

16.7

257

122

1,561

140

9.0

250

$140,000

$163,000

11.1

176

11.2

227

204

1,283

232

18.0

166

$149,000

$165,000

5.5

228

17.8

247

131

‐

1,957

‐

195

$178,800

‐

‐

2,398

‐

2,373

‐

Jan 93.4 93.1

Condo – Sale Price Vs. List Price % Rates Feb 91.2 93.5

Mar 92.2 94.2

Apr 93.4 94.3

May 94.5 93.8

Jun 94.2 93.8

Jul 92.5 94.6

Aug 93.1 94.1

Sept 92.8 94.2

Oct 93.2 ‐

Nov 93.6 ‐

Dec 92.7 ‐

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.

Sarasota Association of Realtors® MLS www.sarasotarealtors.com

Sarasota Realtor® Magazine

NOVEMBER 2012

17

Commercial Investment Division

Commercial real estate: Recovery or realignment?

W

By Brad Lindberg CID President

When the residential housing bubble burst in 2005, the commercial real estate bubble took another three years to follow suit. In 2008 it was evident that a speedy recovery wasn’t going to happen and the business community was in for a long, painful decline in occupancy rates and property values.

Sarasota had invested heavily in single family housing through the boom, building spec homes in every category. The housing construction industry was booming, and every contractor needed an office/ warehouse to store their vehicles and supplies. Business owners wanted to own commercial property and enjoy the same appreciation in wealth that was being achieved by owning multiple residential properties.

As the population grew, there was a need for more offices, more retail locations, more restaurants, and more general service businesses for the influx of new residents to our community. We built a plethora of every type of commercial property to take advantage of the anticipated growth.

We obviously know the rest of the story and the disaster that followed. The real tragedy was the slow, painful death of so many who held on to their properties too long. Surely the banks would be patient and the market would turn around. That, too, didn’t happen and what once was a golden opportunity for investors turned into road kill for the vultures.

Today we are finally seeing the bottom. The unfortunate reality is that the bottom rolled us back to the late 1990’s prices. We lost 15 years of appreciation.

Those who came into the market recently should experience growth and wealth appreciation, but nowhere at the level that was achieved during the boom years.

Today’s commercial real estate opportunities are much different in category and size. What was once a need for condominiums has now transformed to an insatiable demand for apartment properties. High end fine dining restaurants have given way to family friendly establishments, offering a value proposition over ambiance.

The demand for smaller, more efficient office properties has left large space hard to fill as companies are reluctant to expand work forces and technology allows employees to work from home or smaller, remote locations. The industrial property demands have diminished with the move of manufacturing to other countries, leaving these large facilities to be sold at unprecedented low prices.

The good news and the light at the end of this long, dark tunnel is the need for retail space. Indicative of a pent-up demand for consumer goods, retail properties have rising lease rates and lower vacancies. These properties will churn and turn, but it is a refreshing trend we look forward to continue.

Although we still have a steep hill to climb, the commercial real estate community is cautiously optimistic.

The realignment of the demand for different types of properties should fuel a sustained recovery and a stronger economy.

CID slates meetings for November 2012

CID General Membership Meeting Date: Tuesday, Nov. 27th, 8:30 a.m.

Please note date change due to holiday Location: SAR Auditorium; Program: TBD CID Members Only

Commercial Marketplace Sessions - Friday, Nov. 2nd, 9 a.m. – SAR Auditorium - Friday, Nov. 9th, 9 a.m. – SAR Auditorium - Friday, Nov. 16th, 9 a.m. – Manatee Association of Realtors®, 10920 Technology Terrace, Lakewood Ranch, FL - Friday, Nov. 30th, 9 a.m. – SAR Auditorium

2012 CID Officers & Directors Directors:

Officers: President: Brad Lindberg, Sperry Van Ness President-Elect: Linda Emery, Sperry Van Ness Vice-President: Tim Mapp, Mapp Realty Secretary: Dave Roth, RE/MAX Alliance Treasurer: Lori Hellstrom, Osprey Real Estate Services Past President: Anthony Homer, Ian Black Real Estate 18

NOVEMBER 2012

Susan Goldstein: Michael Saunders & Company (1 year 2012) Sarah Olesen: Michael Saunders & Company (1 year 2012) Tony Veldkamp: Sperry Van Ness (2 years - 2013) Bob Milhoan: Hembree & Assoc. (2 years - 2013) Peter Skokos: Norton Hammersley (3 years - 2014) Kevin Robbins - Harry Robbins Associates (3 years - 2014)

Sarasota Realtor® Magazine

www.sarasotarealtors.com

The Sarasota Association of Realtors® is doing our part in the local commercial real estate industry resurgence with the construction of a new headquarters facility to be completed in the spring of 2013. More photos are on Page 24.

Will commercial sector brighten in 2013?

Will the commercial real estate market show dramatic signs of recovery next year? It’s possible, according to an article in the Daily Real Estate News dated Oct. 19th.

“The commercial real estate outlook for 2013 is looking brighter, with modest gains in leasing, rents, and pricing forecasted in PwC US and the Urban Land Institute’s latest report, ‘Emerging Trends in Real Estate 2013’,” the article noted.

“The commercial market is moving forward ‘bit by bit,’ said Stephen Blank, ULI’s senior resident fellow for real estate finance. ‘Nothing indicates a quick turnaround for commercial real

estate, but it is improving. Those who are patient and willing to rethink their expectations and adapt to market realities are expected to come out ahead this year.’”

According to the report, recent job creation will likely increase absorption and push down vacancy rates in the office, industrial, and retail sectors. The apartment sector is forecast to continue to have strong demand, according to the survey.

“With the outlook for commercial real estate continuing to improve in 2013, investors are expected to allocate substantial sums of capital to the real estate asset class, according to our survey

respondents,” says Mitch Roschelle, U.S. real estate advisory practice leader with PwC. “As yield in bonds and other financial instruments tighten in a stillvolatile market, commercial real estate’s income producing and total return attributes offer investors potentially attractive risk-adjusted returns.”

The five markets with the best commercial real estate outlook for 2013, according to the report, are: 1. San Francisco 2. New York 3. San Jose, Calif.

4. Austin, Texas 5. Houston

Sluggish job market stalls growth in office sector?

Vacancies in the office market sector remain high, dampened by sluggish growth in employment as well as companies’ more efficient use of office space, Reis Inc. reports.

Office space vacancies fell to 17.1 percent from 17.2 percent in the last quarter, according to Reis, which tracks 79 metro areas.

Companies added office space at a slow pace in the third quarter, and growth over the past year has been only a fraction ofwhat it was between 2008 and 2010.

“It’s probably going to take until the middle of this decade before we see more pronounced improvement,” Ryan Severino, an economist at Reis, told The Wall Street Journal. www.sarasotarealtors.com

Demand has cooled in many metros not only because of the sluggish job market, but also because tenants seem to be using space more efficiently, according to The Wall Street Journal.

More firms are relying on digital storage and realize they don’t need as much office space anymore.

The best performing office markets are mostly centered in the technology sector. The areas that have seen the largest rent growths in the last year in the office sector are San Francisco (up 4.1 percent); New York (up 3.5 percent); San Jose, Calif. (up 2.3 percent); and Houston (up 2.2 percent) and Austin, Texas (up 2.1 percent).

Sarasota Realtor® Magazine

NOVEMBER 2012

19

Education Programs 20

Knowledge is power in real estate upper tier Title: Certified Luxury Home Marketing Specialist Dates: March 19-20, 2013 at 8:30 a.m.

Instructor: Laurie Moore-Moore Cost: $550 Training for the Certified Luxury Home Marketing Specialist designation is designed to help sales professionals who currently work in the upper tier move to the next level, or to help those just beginning to target the luxury market jump-start their business.

Learn what wealthy buyers and sellers say are the “real secrets” to capturing their business and delivering outstanding service. This intensive two-day CLHMS training is the first step in earning the coveted CLHMS designation. Upon completion of the training you will become a Member of The Institute.

Members of the Institute are part of an exclusive, international network of active luxury agents and enjoy a host of valuable benefits and discounts.

Recognized as the mark of accomplishment in luxury markets around the world, the Certified Luxury Home

Marketing Specialist (CLHMS) designation assures affluent buyers and sellers that the agents who have earned it have the knowledge, experience, competence, and confidence they require.

Attend this valuable training & discover how to: • Reach more affluent prospects • Increase your average Laurie Moore-Moore price • List and sell more luxury homes • Deliver outstanding service to affluent buyers and sellers

Time is running out for Code of Ethics training The Code of Ethics is central to the Realtor® organization – so essential, in fact, that the National Association of Realtors® (NAR) has mandated that all Realtors® complete a 2.5-hour training every four years as a condition of membership.

The current 4-year Cycle ends Dec. 31, 2012. If you have not completed ethics training between Jan. 1, 2009 and Dec. 31, 2012, your Realtor® membership and related services, including MLS, will be suspended until you are in compliance.

If you are not sure when you last took the Code of Ethics, please call Catherine McCaskill at 941-3281167.

If you need to complete the Code of Ethics, you have four training options: Live classroom instructor (SAR members free) at SAR on the following dates (registration required): - Monday, Dec. 10, 1-4 pm - Wednesday, Dec. 19, 9 am-Noon or 1-4 pm (3 hours CE) NAR Online class (free) visit http://www.realtor. org/code-of-ethics/training/for-existing-members (short test required at end of course). NAR will notify SAR within ten days that you have completed the course.

Online class with CE (3 hours $15; or 4 hours $20) through SAR’s website (Education tab). Visit the SAR web site - www.sarasotarealtors.com - to view

NOVEMBER 2012

the options and sign up. (short test required at end of course) DVD: A high-quality video with professional actors is available for brokers or office managers to check out from SAR to hold training in their office, certifying attendance of agents who attend the training.

Please call SAR at 941-923-2315 if you have questions.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

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866.495.6006 taylormorrison.com West Florida communities only. Limited time offer. Valid 10/1-12/31/12 (the “Term”). Incentive remains subject to change, extension or early termination in Seller’s discretion. Taylor Morrison’s $3,000 “Realtor Rewards” bonus paid at closing, and subject to full return without deduction to Seller, if transaction cancels or home does not close by 12/31/2012. Bonus varies by community. Community Association and other fees may be required. Prices, promotions, incentives, features, options, amenities, floor plans, elevations, designs, materials and dimensions are subject to change without notice. Square footage and dimensions are estimated and may vary in actual construction. Community improvements and recreational features and amenities described are based upon current development plans which are subject to change and which are under no obligation to be completed. Actual position of house on lot will be determined by the site plan and plot plan. Floor plans and elevations are artist’s conception and are not intended to show specific detailing. Floor plans are the property of Taylor Morrison, Inc. and its affiliates and are protected by U.S. copyright laws. Please see your Sales Associate and Cooperative Broker Agreement/Incentive Addendum for complete details and additional restrictions. This is not an offering in any state where prohibited or otherwise restricted by law.© October 2012 Taylor Morrison of Florida, Inc., FL GC#CBC1257822.

New format for GRI in 2013 Florida Realtors® has made changes to the GRI program for 2013. Instead of offering the program in three courses, they have broken up the program into 2-day modules—easier on your work schedule and your pocketbook!

Each 2-day module will cost $130 and will have a one-hour exam with 50 questions. Salesman’s and Broker’s post-license education will still be available. The first module of the GRI 100 series, GRI 101, will carry 14 hours of CE and includes Core Law. So, for the first time, SAR members can renew their license with a high-quality 2-day program that also counts towards the GRI designation.

SAR is pleased to announce the dates for the GRI 100 Series: Standards of Practice - Jan. 21 & 22, 2013 GRI 101- Topics: - Realtors®: Professionalism and the Law - Professional Standards Fair Housing and Diversity, Law 14 hours of continuing education and 15 hours of salesman’s post-license education Cost: $130

GRI 102 - Topics: - Starting Your Business - Contact to Contracts - Business Planning - Goal Setting

11 hours of continuing education and 15 hours of salesman’s post-license education Cost: $130 GRI 103 - Topics: - Maximize your Profitability - Finance - Negotiating - Counseling - Law 14 hours of continuing education and 15 hours of salesman’s post-license education Cost: $130 Register for all three modules for $349 (save $51).

New contract for residential sale and purchase explained Title: New FR Contract: CRSP-12 Date: Nov. 14, at 12:00 PM Presented by Realtor®-Attorney Joint Committee and Sarasota County Bar Association Instructor: Julie Horstkamp, Esq. Cost: FREE to SAR members; $10 for others Join us for another in a series of seminars sponsored by the Realtor®-Attorney Joint Committee of SAR and the SCBA. There is a new contract in town—the CRSP-12! It replaces the FAR-9. Come to this seminar to hear all the important changes that have been made to this Contract for Residential Sale and Purchase (CRSP). You will also learn about the new CRSP-12 Addenda, which incorporates three new addenda that used to be stand-alone and are no longer available as stand-alone documents.

Your instructor will be Julie Horstkamp, Esquire, Berlin

CONGRATULATIONS!

Dedication and hard work pay off!! We congratulate our members who have successfully completed the Graduate, Realtor® Institute (GRI)!

GRADUATE, REALTOR® INSTITUTE (GRI)

Dennis Kedzierski Joyce Marie Steward 22

Rosebay International, Inc. Joyce Marie Steward, RE Broker

NOVEMBER 2012

Patten. Julie is a the current chair of Realtor®-Attorney Joint Committee of Florida Realtors® and The Florida Bar Association. In addition, she actively participated in the revisions to this contract, and can explain the reasoning used to make the changes. Julie is a Board Certified Real Estate Attorney and works out of the Berlin Patten law office in Venice.

Green Building value explained: What’s it worth to me?

Title: Green Building – So What’s it Worth?

Date: Nov. 27 at 6:30 PM Cost $5 for members; $10 for others Join the SAR Green Realtors® Alliance, the Myakka River Branch USGBC LEED for Homes Committee and the HBA Manatee-Sarasota Green Council to hear Sandra Adomatis, SRA of Adomatis Appraisal Service describe recent developments in the residential appraisal practice that actually assigns value to green features in homes. Ms. Adomatis will cover the following topics: - Six elements of Green that are worth knowing.

- Is the market seeing Green?

- Legislation that may change the way we buy and sell houses.

- Understanding “Residential Green, Energy Efficient Addendum.”

Sarasota Realtor® Magazine

www.sarasotarealtors.com

My Florida Regional MLS offers new courses 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!

If you need to cancel, please call MFRMLS at 800.686.7451 (not SAR).

MLXchange Basic Nov. 5 or Nov. 19, 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 - 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 the hotsheet configurations - Search Tax - Creating a professional CMA - Personalize user contact information MLS Compliance 101 Nov. 5 or Nov. 19, 1 to 2:30 p.m.

Mandatory session for all new users.

In this course you will learn about the My Florida Regional MLS Rules and Regulations, and the compliance procedures for accuracy of listing data, along with educational materials available on MFRMLSUniversity.com - Rules and Regulations - Profile Sheet Terms - iSmart Tool Adding/Modifying Listings in MLXchange Nov. 5 or Nov. 19, 3 to 4:30 p.m.

Mandatory class if you will be entering/updating your own listings.

www.sarasotarealtors.com

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

Creating a Professional CMA (3 CE Credits!)

Nov. 8, 9 a.m. to Noon This class is designed to teach you the skills needed to create a comprehensive CMA. You will learn how to import properties that are listed outside of the MLS, into your CMA along with valuable tips and techniques for creating a professional CMA. Scheduling & Task Management Nov. 8, 1 to 2 p.m.

This class will teach you how to use MLS to manage time. Learn how to create Tasks and activity plans, set up appointments and communicate with your Clients.

• Activity Plans • Tasks • Messages • Appointments • Home page gadget • Client Web Page – schedule & tasks Listing Tools Nov. 8, 2:30 to 4 p.m.

This class will introduce you to Member Benefits that will provide Sarasota Realtor® Magazine

you with valuable tools for your listings in MLS. • RealBiz 360- Virtual Tours • ShowingTime • Data-Coop • RE Technology MLS System Settings & Defaults Nov. 12, 9 to 10:30 a.m.

This class will teach you how to set up system setting in the MLS. Including, how to save reports as favorites, setting up your email defaults, search defaults and much more.

The Mobile Agent Nov. 12, 11 a.m. to Noon This class will provide you with resources and member benefits that help you become the Agent on the Go! • DocBox to go • Mobile iMapp • Kurio • Real estate apps for the iPad • RBI mobile Quick CMA Reports Nov. 12, 1 to 2:30 p.m.

This class will teach you how to utilize different CMA reports that are available through the MLS system and through member benefits provided by My Florida Regional MLS. This course DOES NOT provide CE credit.

MLS Hotsheets Nov. 12, 3 to 4 p.m.

This class will teach you how to utilize the Hotsheets in MLS, including setting up your Hotsheet gadget on the home page, creating days back and custom hotsheets and more.

NOVEMBER 2012

23

SAR New Headquarters

New Era of Progress for SAR! Visit SAR on Facebook at www.facebook.com/SarasotaRealtors

Photos by Jesse Sunday and Halfacre Construction This was the view in late September of the site of the new SAR headquarters at the northwest corner of Cattlemen Road and Colonial Oaks Boulevard.

Another aerial view of the new SAR headquarters site as Halfacre Construction crews continued work on the building shell.

The new SAR headquarters at the northwest corner of Cattlemen Road and Colonial Oaks Boulevard should be completed by the early summer months of 2013.

24

NOVEMBER 2012

Sarasota Realtor速 Magazine

www.sarasotarealtors.com

ors

Three SAR members graduate from Leadership Academy Florida Realtors® recently honored the 15 Realtor® members of the state association’s Leadership Academy upon their graduation from the class, including three members of the Sarasota Association of Realtors®.

The Leadership Academy was established in 2008 to identify emerging Realtor® leaders ready to get involved, make a difference and enhance their leadership Christina Pitchford Anthony Homer Stafford Starcher skills. The goal of the Academy is to empower experience at the state (Florida Realtors®) who were a part of this year’s academy its participants to develop the skills are talented and dedicated professionals or national (NAR) levels of the Realtor® needed to lead a committee, a Realtor® who will make our industry proud.” family. Those veteran leaders at Florida association or a community.

Realtors® or NAR with many years of Members of the Leadership Academy SAR is currently promoting the 2013 leadership experience may be called upon participated in classroom activities, by the academy during the year to share program through our weekly email group and independent study sessions, their expertise and therefore may find the team-building and goal-setting blast and on the web site. Florida Realtors® is now accepting applications information redundant. exercises, leadership techniques and for the 2013 Leadership Academy. communication skills enhancement.

Applications will be accepted online from through 11:59 PM on Dec. 31, The academy offers a unique They collectively worked on their class 2012. Visit www.floridarealtors.org for opportunity to see how the Florida project designed to enhance the outreach details.

Realtors® association operates. Many efforts of the Vote Yes on Amendment of these same principles that guide the 4 Campaign, working on a grassroots Applicants should make sure that they volunteer leadership and staff of this can devote 30 to 45 minutes to complete level to stress the importance of passing 115,000 member organization can be the entire application process. In addition Florida’s Amendment 4 on the November applied to how you run your business ballot. to completing the questions, applicants and make decisions that impact your should have a current photograph and Florida Realtors® who graduated every-day life. Graduates of the Florida resume to attach to the application. from the Leadership Academy in 2012 Realtors® Leadership Academy will be included: Anthony Homer, Christina “These individuals have gone above equipped with the knowledge, skills and Pitchford and Stafford Starcher of the and beyond the call of duty this past confidence to excel as a leader in the 21st year,” noted 2012 Leadership Academy Sarasota Association of Realtors®; Barry century.

Grooms of the Manatee Association of Chairman Michael Bindman, BrokerIdeal applicants will be those who Realtors®; and Cynthia Logan of the Owner of Realty Executives Homes have served on the local Realtor® level Punta Gorda-North Port-Port Charlotte in Florida in St. Petersburg and 2013 and/or who have potentially had some Association of Realtors®.

Florida CRB President. “The Realtors®

Sales Associate Pre-License Course starts Jan. 8 Do you know anyone who may be interested in pursuing a career in real estate? Perhaps a family member, son or daughter, who wants to start a new career?

If so, the Sarasota School of Real Estate is a great place to start!

A Sales Associate Pre-License course is slated for Jan. 8, 2013 through Feb. 9, 2013.

Earlybird Tuition cost is $339 (includes manual, Florida Real Estate Principles, Practices and Law, 35th Edition). Register at least 10 days in advance of class to receive the Earlybird price).

www.sarasotarealtors.com

The Regular Tuition is $364 The class is held onTuesdays and Thursdays from 5 to 10 p.m.

AND Saturdays, 8:30 a.m. to 1:30 p.m.

End of Course Exam is on the last day of the course. Each class is limited to 20 students, and the instructor is Michael W. Davenport.

Classes are held in Conference Room A at the SAR facility, 3590 S. Tuttle Ave.

Sarasota Realtor® Magazine

NOVEMBER 2012

25

Tech Tip: Is it time to upgrade? Maybe!

By Michael Antoniak Realtor® Magazine

Your next computing solution could be a tablet, desktop, or notebook. Your choice will likely involve a trade-off between mobility and heavy-duty computing power. This guide is deisgned to find out what will best meet your needs.

In previous guides, we’ve looked at smartphones and tablets. Here, the focus is primarily on more traditional desktop and portable computers.

First, consider what systems you’re currently using and where you would welcome gains in performance and productivity. What you add next should address how and where you work best, and which investment will most benefit your career.

As you shop the various types of computers, you’ll find systems designated for the consumer or home office and the professional or business user. Spec for spec, prices on consumer systems may be cheaper.

For you, though, a business system may be the smarter purchase, especially if you’re eyeing mobile hardware. Defining the differences worth the added expense can include a metal or a more durable case, spill-resistant keyboards, enhanced security features, expansion options, and extended warranties.

The release of Windows 8 in late October, plus launch of new iMacs, suggest it may be time to consider upgrading or replacing any computer purchased a few years ago. The latest options in mobile hardware can introduce such compelling, productive benefits; you may also want to expand your line-up with something more portable.

Award-winning printing and customer service Specializing in pocket portfolios, die-cutting and foil-stamping done in-house 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

26

NOVEMBER 2012

Sarasota Realtor® Magazine

www.sarasotarealtors.com

By Scott Newman Realtor® Magazine I think Jay-Z put it best when he said, “I’m not a businessman; I’m a business, man.” He understands, as do all the top-producing real estate professionals out there, that in order to be a success in any professional endeavor you need to run your business like a business.

That means controlling your empire from the top down in a well-defined and well-managed hierarchy.

Why is this important? Simple. In order to continue to grow your business and thus your earning potential, you need to make decisions on how your organization will function—which means making some tough decisions on what tasks to handle and what tasks to delegate or outsource.

I am going to break down some of the tasks and responsibilities that have many agents struggling to decide whether to delegate or outsource in an effort to make best use of time for the long-term health of your business.

Web site With so many of our buyers turning to the Internet to search for properties, having a great Web site is no longer a luxury—it’s a must-have.

I constantly come across Web sites that are nothing more than a template thrown up on a domain, and that is a recipe for disaster. Those types of sites have absolutely no SEO value whatsoever, and are seen as cheap and unhelpful by consumers.

Instead, I strongly urge you to consider outsourcing the design, programming, and ongoing management of your Web site to a professional. Yes, it’s expensive, but at the end of the day a good Web site can help you grow your business exponentially faster. And the better your site, the better the ROI will be.

Keep in mind the level of technical expertise—not to mention patience—that’s required to effectively build your own quality site is well above the level of understanding most real estate professionals have when it comes to Web development. So bite the bullet and spend the money to have it done correctly. Also make sure you also account for money in your monthly budget to hire a Web manager who can help you update content and solve any problems that might arise with the site in a timely manner.

Marketing Think back to all those times you’ve sat in your living room on a Sunday afternoon stuffing envelopes for

www.sarasotarealtors.com

mailers or taking the time to design your own flyer.

No offense, but the bottom line is there is someone out there who can do a better job doing your marketing than you. I’m not saying that you shouldn’t have a hand in how your business reaches out to the general public, but the actual labor and design work involved in the marketing process should absolutely be something you consider outsourcing.

There are many companies that can not only design great marketing pieces for you but also physically make sure those pieces are delivered appropriately, whether it’s via mail, e-mail, or another Internet route.

Another advantage to outsourcing your marketing is that it allows you to create consistency. For example, I send a monthly e-mail blast with a video I do each month on the status of the real estate market in Chicago. This has become very popular among my sphere. Unfortunately, creating that video and e-mail is not an A-level task when showings, closings, and clients must come first. As a result, those e-mail blasts were not going out at the same time and date each month as planned; thus, it was not having maximum impact. By outsourcing that marketing task, I now know that on the 15th day of each month at 9 p.m., that e-mail blast will go out and it will be done perfectly, whether I’m busy or not.

Blog The last one is the big one everyone is talking about—your blog.

Let me be clear: If you don’t believe in the power of blogging enough to write your own blog, don’t do one.

There is nothing worse than a blog with boring, canned content you bought from someone or posts that you syndicate from some other Web site. The general public, and more importantly, Google’s algorithm sees right through pilfered content, which provides you no SEO benefit whatsoever.

Blogging is about showcasing your personality and letting your clients see your passion and expertise. If you plan ahead, it should take no more than 15 to 20 minutes to write a quality blog piece. There is no excuse for not being able to fit that small amount of time into your schedule on a weekly basis.

Being a great REALTOR® means being the CEO of a business in an extremely dynamic and complex industry.

You need to stay ahead of the curve and make sure you are constantly evaluating the best use of your time. By thoughtfully evaluating what tasks need your personal attention and which can be delegated or outsourced, you give yourself the maximum amount of free time to grow your business and reach your full potential.

- From REALTOR® Magazine

Sarasota Realtor® Magazine

NOVEMBER 2012

Broker Corner

To delegate, or not to delegate?

27

Fashion Show highlights successful year!

At the WCR Fashion Show are (left to right) Elizabeth Reynolds, Tina Darling, Hylda Fenton, Kristina Benefield and Tina Seger, all of Innovative Agent Services. never know when this list will come in handy!

WOW! What a year it has been for the Sarasota Chapter of the Women’s Council of Realtors®! We As professional Realtors® and Affiliates, our had an amazing Fashion Show on Sept. 19, because members form lasting relationships through so many of YOU were there! education, networking which builds and creates Special thanks to Tina Darling’s team at Innovative growth and value in their business, and in their personal success. The entire industry becomes Agent Services for creating the most beautiful advanced when these skills are shared. You are invited program book yet. Also, special thanks to Cutting to become a member of this successful organization.

Loose Salon and Spa for the professional hair and Visit www.wcr.com or www.SarasotaWCR.com for makeup - all of our models were gorgeous! more information.

There are so many Women’s Council members, Celebrating our 56th year of success, I am volunteers, and local supporting affiliates that deserve mentioning. I suggest you request your own program privileged to serve as your Chapter’s President.

Thank you for your continued support! book by contacting TinaDarling@comcast.net - you

2012 Leadership Team

28

Marianne LeBar President Michael Saunders & Company Cell: 941-650-0337 mariannelebar@michaelsaunders.com

Peter Salefsky Vice-President Membership Michael Saunders & Company Cell: 941-724-5107 petersalefsky@michaelsaunders.com

Sherri Spanos Recording Secretary Lakewood Ranch Communities Phone: 941-907-6000 sherri.spanos@lakewoodranch.com

Mary Hellhake President-Elect Michael Saunders & Company Cell: 941-544-0763 maryhellhake@michaelsaunders.com

Carrie Starr Rummery Treasurer Starr Title Insurance Phone: 941-365-7827 carrie@starrtitle.net

Linda McConnell Corresponding Secretary FBC Mortgage LLC Phone: 941-504-0823 lmcconnel@fbchomeloans.com

NOVEMBER 2012

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Tuesday-Saturday 10:30AM- 5:30PM Monday by Appointment 1540 Main Street Sarasota, FL 34236 941.366.0941 BlackBirdHomeGallery.com

Membership News

The Association is pleased to welcome new members!

Designated Realtors®

Bernard, Carmen: RealEstateAuctions.com Coveney, Terence: Coldwell Banker Res R E Kennelly, Kevin: Signature Realty Associates Walter, Cynthia: Justsouth Inc.

New Members

Atkins, Jennifer: Real Estate Boutique LLC Basi, Roman: Wagner Realty Blomquist, Timothy: RE/MAX Alliance Group Carney, Timothy: Sandals Realty of Sarasota Carroll, Stephen: Exit King Realty Carroll, Susan: Exit King Realty Clyne, Roger: Coldwell Banker Res R E Collier, Wade: Premier Sotheby’s Intl. Realty Dalton, Rebecca: Exit King Realty Dellavecchia, Jamie: Horizon Realty International DeSantis, Kristie: Keller Williams Lakewood Ranch Ehlert, Julia: RealEstateAuctions.com Evans, Justin: Realty Executives Solutions Faivre, Jon: ELITE Properties LLC Girstl, Pavel: Viewpoint Realty International Giuffre, Tracie: Coldwell Banker Res R E Gonzalez, Rafael: Xena Vallone Realty Inc. Greco, Jon: Moynihan Realty Group Inc. Hallock, Kathryn: Exit King Realty Lavoy, Wilson: Coldwell Banker Res R E Lawrence, Jeffrey: Michael Seery & Associates Inc. Martin, Anne Marie: RealtyOne Florida Martin, Dorothy: Stringer Management Inc. Pekarek, Benjamin: All County Prop Mgmt Pros Reilly, Maureen: Prudential Palms Realty Riordan, Theresa: Coldwell Banker Res R E Rocha, Maria: Keller Williams On The Water Rose, Elliot: Coldwell Banker Commercial NRT Rosin, Sasha: Horizon Realty International Sinai, Tommy: Coldwell Banker Res R E Skarbek, Alicia: RER International Smith, Charles: RealEstateAuctions.com Spencer, Therese: Real Estate Boutique LLC Spina, Daria: Michael Saunders & Company Stoltzfus, C. Ivan: RealEstateAuctions.com Styers, James: Michael Saunders & Company Toxey, Stacey: Exit King Realty Vidal, Argelia: Coldwell Banker Wille, Else: Exit King Realty Winfrey, Eileen: RER International

Now With ...

Anzellini, Carmen: Coldwell Banker Anzellini, Vincenzo: Coldwell Banker Cail, Tom: RE/MAX Alliance Group Cunningham, Gerald: Keller Williams On The Water Dangerfield, Ashley: Listing Services Direct duKor, Paul: Horizon Realty International Eash, Joey: Allison James Estates & Homes Foley, James: Exit King Realty Garcia, Raul: SRQ International Realty LLC 30

NOVEMBER 2012

Gibson, Holly: Coldwell Banker Res R E Girimont, Teresa: Neal Communities Realty Inc Grande, Jason: RE/MAX Alliance Group Holt, Anna: Market America Realty & Invest Huffine, Andree: Coldwell Banker Res R E Hutson, Lorraine: Sandals Realty of Sarasota Jacob, Arlette: Exit King Realty Johnston, Pamela: Key Realty Kijner, Daniel: Fortune International Realty Kirkpatrick, Yolanda: Coldwell Banker Res R E Ledford, K Scott: Sarasota Bay Real Estate P.A. Macey Huddelson, Robin: Rosebay International, Inc. Marrero, M Christina: SRQ International Realty LLC McIver, Chris: Charity & Weiss Int’l Realty Moore, Stephen: Wagner Realty Murray, Dovie: Sarasota Bay Luxury Properties Nichols, Adrian: J Wood Realty Penzotti, Gina: ERA Waterside Realty Peterson, John: Rosebay International, Inc. Sas, John: Ken Brand Lic R E Broker Schlink, PeggieJo: Barry D Edwards & Assoc Torok, Tamas: Signature Realty Associates Wilkerson, George: Neal Communities Realty Inc. Wright, Judy: Michael Saunders & Company

New Affiliates

Charles H. Wilson Const. Co.

8221 Blaikie Court Sarasota, FL 34240 Phone Number: 941-957-1030 Representative: Charlie H Wilson Specialty: Charles H. Wilson Construction Company has been providing construction services to the Sarasota-Manatee area since 1984.

Our projects over the years have been many and diverse, but we remain consistent to our founding principle of providing outstanding services within the concept that quality construction need not be cost-prohibitive or time-consuming. Our goal is to deliver a quality project that has been tailored to meet your needs, your schedule and your budget.

We accomplish this through a Construction Management approach that utilizes my personal participation in every phase of your project. The result is a process that will provide a professional expertise to the design team during the planning stages and organizational structure and coordination during the construction activity. Our firm engages in a limited number of projects at one time, depending on their size, complexity and location. By organizing our operation in this manner, I am able to personally direct your project from start to finish and the costly offices and staffs that accompany large corporations are eliminated. We will meet your schedule and your budget without sacrificing quality.

Email: charlie@chwcc.com

Sarasota Realtor® Magazine

www.sarasotarealtors.com

SAR welcomed 32 new members in October.

The Association’s overall membership now stands at an even 3,600, with 300 Affiliate members included in that number.

MyForce

5505 Keeler Oak Street Lithia State, FL 33447 Phone Number: 813-335-0308 Representative: Vince Cardella Specialty: You’ll never walk alone, show a house alone, or visit REO markets alone when you have MyForce — the world’s first personal security service on a Smartphone, a mobile bodyguard that goes everywhere you do.

MyForce combines the convenience of a Smartphone application with a live, bilingual 24/7 emergency monitoring, accessible at the touch of a button on any iPhone, Android or BlackBerry Smartphone. MyForce gives users confidence and security against threats while providing their colleagues and families with peace of mind. For more information about increasing safety for agents, or MyForce as a retention tool — for group plans and pricing, contact Vince Cardella at 813-3350308 or vcardella@myforce.com Otherwise, register today at http://www.myforce.com and use promo code MYFORCENOW to get $20 off your first annual subscription!

Email: vcardella@myforce.com

Ramada Waterfront Sarasota

7150 N. Tamiami Trail Sarasota, FL 34243 Phone Number: 941-358-1000 Representative: Sandi Spahn Specialty: Minutes from the Beaches of Siesta Key, Lido Key and Longboat Key. Make your visit to Sarasota a rejuvenating experience at Ramada Sarasota hotel.

Located off Route 41 on the Sarasota Bay waterfront, our hotel near Sarasota Bradenton International Airport is just minutes from beautiful white sand beaches. Enjoy spacious hotel rooms with modern style and thoughtful amenities to help you stay refreshed during your stay.

Free Wi-Fi Internet access throughout our hotel keeps you connected, and our gym makes it easy to keep up your workout routine. Our Sarasota hotel also features guest laundry facilities, free parking with large-vehicle spaces and non-smoking and handicapped-accessible rooms. After a restful sleep, wake up with free continental breakfast or a morning swim in our outdoor pool.

Email: sspahn@ramadasarasota.com www.sarasotarealtors.com

Tropex Plants

3220 Whitfield Avenue Sarasota, FL 34243 Phone Number: 941-753-5066 Representative: Bonnie Hassler Specialty: TROPEX is Florida’s #1 commercial interior plant leasing company. You’ve see our Award-Winning Designs in Country Clubs, Hotels & Resorts, Office Buildings, Professional Offices, Upscale Businesses, Condominiums, and Luxury Residences. Our coveted clients span the state from our headquarters in Sarasota including Tampa to Marco Island, Stuart to Miami and beyond. Since 1981, TROPEX has been a leader and innovator in the interior landscaping business. From award winning designs to the development of Greenscan Solutions, the data management technology that provides our customers with carefree service.

Email: bonnie@tropex.com

Trustco Bank

1300 S. Tamiami Trail Osprey, FL 34229 Phone Number: 941-918-9380 Representative: Brandon Grupka Specialty: The mission of Trustco Bank is to be the low cost provider of high quality services to our customers in the communities we serve and return to our owners an above average return on their investment. These days, many people are rediscovering the value of taking a conservative approach with their money. At Trustco Bank, we have been doing just that since 1902. Through changing times, our commitment to careful financial management, high quality lending standards and following prudent investment practices has never wavered.

Our focus has always been to provide our customers with community banking solutions that offer superior convenience, value and security. In these uncertain times, now may be the time to come home to a hometown bank with a history of financial strength. Full service bank that specializes in portfolio loans.

Email: bgrupka@branch.trustcobank.com

Sarasota Realtor® Magazine

NOVEMBER 2012

31

E DUCATION & E VENTS C ALENDAR Tuesday

Wednesday

Thursday

Friday

Oct. 29

30

31

Nov. 1

2

5

6

7

8

9

12

13

14

15

16

19 9 a.m. Code of Ethics 9 a.m. Basic MLXchange 1 p.m. Compliance 101 1 p.m. Code of Ethics 3 p.m. Adding and Modifying Listings

20

21 7:30 a.m.

Toastmasters

22

SAR CLOSED for Thanksgiving Holiday

SAR CLOSED for Thanksgiving Holiday

26

27 8 a.m.

CID General Membership 6:30 p.m.

Green Building Seminar

28

29

30

10 a.m.

CID Golf Tournament (Founders Club)

8 a.m.

International Real Estate Congress (Lido Beach Resort) 9 a.m. Basic MLXchange 1 p.m. Compliance 101 3 p.m. Adding and Modifying Listings 9 a.m.

New Member Orientation 9 a.m. MLS Settings 11 a.m. Mobile Agent 1 p.m. Code of Ethics 1 p.m. Quick CMAs 3 p.m. MLS Hotsheets

8 a.m.

CRS 200

8 a.m.

CRS 200

8 a.m.

7:30 a.m.

International Real Estate Toastmasters Congress (Lido Beach Resort) 8:30 a.m.

CID Board of Directors

11:30 a.m.

Smart Lunch

8 a.m.

Power Marketing (University Park CC) 9 a.m.

Property Management Forum 4:30 p.m. Phone Bank

8 a.m.

9 a.m.

Power Marketing (SAR) CID Commercial 9 a.m. Creating CMA Marketplace 1 p.m. Scheduling/Tasks 2:30 p.m. Listing Tools

7:30 a.m.

8 a.m.

Toastmasters Power Marketing 8:30 a.m.

(SAR) Board of Directors 12 p.m. RAJC Seminar: New FR CRSP Contract & Addenda

8:30 a.m.

Board of Directors

9 a.m.

CID Commercial Marketplace

8 a.m.

Power Marketing (SAR) 10 a.m.

Photographer

9 a.m.

CID Commercial Marketplace (offsite)

23

9 a.m.

CID Commercial Marketplace

Note: All events/classes are at SAR, except where noted

My Florida Regional MLS Training

The My Florida Regional MLS training classes are offered at no cost to MLS participants. All classes 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

Monday

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

NOVEMBER 2012

90

80

70

60

50

40

30

20

10

12.0 10.0 8.0 6.0 4.0 2.0 0.0 Sep‐11

Oct‐11

Nov‐11

Dec‐11

Jan‐12

Feb‐12

Mar‐12

Apr‐12 May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

Single Family

Days on Market

Condo

300 250 200 150 100 50 0 Sep‐11

Oct‐11

Nov‐11

Dec‐11

Jan‐12

Feb‐12

Mar‐12

Apr‐12

May‐12

Jun‐12

Jul‐12

Sep‐12

Single Family

Sales Volume

Condo

$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

Sep‐11 Oct‐11 Nov‐11 Dec‐11 Jan‐12 Feb‐12 Mar‐12 Apr‐12 May‐12 Jun‐12

New Listings

Aug‐12

Jul‐12 Aug‐12 Sep‐12

Single Family Condo

900 800 700 600 500 400

Sarasota Association of Realtors® MLS

300 200 100 0 Sep‐11

Oct‐11

Nov‐11

Dec‐11

Jan‐12

Feb‐12

Mar‐12

Apr‐12

May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

The Xtra Pages - Digital Version Only

Single Family Condo

Months of Inventory

Third Quarter 2012 Report Single Family Sales ‐ By Quarter

REO

Short

Market

1400 1200 1000 800 600 400 200 0 2010‐Q1

2010‐Q2*

2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

Condo Sales ‐ By Quarter

2012‐Q1

REO

2012‐Q2

Short

2012‐Q3

Market

700 600 500 400 300 200 100 0 2010‐Q1

2010‐Q2*

2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

Single Family Median Sale Price

2011‐Q4

2012‐Q1

2012‐Q2

REO

Short

Market

2012‐Q3

$300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2010‐Q1

2010‐Q2

2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

Condo Median Sale Price

2011‐Q4

REO

2012‐Q1

Short

2012‐Q2

2012‐Q3

Market

$300,000 $250,000

Source: Sarasota Association of Realtors®

$200,000 $150,000 $100,000 $50,000 $0 2010‐Q1

2010‐Q2

2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

2012‐Q3

Single Family Condo

REO Sales ‐ By Quarter 600 500 400 300 200 100 0 2010‐Q1

2010‐Q2*

2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

2012‐Q3

Single Family

Short Sales ‐ By Quarter

Condo

400 350 300 250 200 150 100 50 0 2010‐Q1 2010‐Q2* 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

2012‐Q3

Single Family Condo

Market Sales ‐ By Quarter 1400 1200 1000 800 600 400 200 0 2010‐Q1 2010‐Q2* 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

2012‐Q3

Source: Sarasota Association of Realtors®

Annual Sales ‐ 2000 to 2011 Single Family Single Family

Condo

Total

11267 10562 9697 8224

8167 7603

7,596 7036

6533

6,841

6 504 6,504

6739

6358

6042

5,603

5,183

4,940 4,353

4,349 3 671 3,671

3,193 2,184

2,096

5820

3 721 3,721

2,564 2,005

2001

2002

2003

2004

2005

5,938

4,626 3,922 ,

2,120

2006

2007

2,137

2,286

2010

2011

1,556

1,194

2000

5,466

2008

2009

Annual Median Sale Price ‐ 2000 to 2011 Single Family

Condo

$351,000

$342,000 $336,250

$272,500 $305,000

$226,000 $172,500

$303,000

$210,000 $163,000 $156,800

$230,000

$191,000

$142,000

$173,000

$132,300

2000

$301,225

$225,000

$191,000

$320,000

$160,000

$145,000

2001

2002

2003

2004

2005

2006

2007

2008

2009

$163,000

2010

$155,925

2011