Sarasota Realtor Magazine - October 2009

OCTOBER 2009

Making A Difference Realtors速 and Affiliates offer helping hands Page 6

Short sale flips that make you flop!

Page 8

Contents

Sarasota Realtor® Volume 6, Issue 10 OCTOBER 2009

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

2009 Officers

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Making A Difference

Realtors® can be found painting homes, helping at local charitable organizations, assisting youth and the elderly, volunteering at Habitat for Humanity, and much, much more.

10 A BIG Win!

By acting early in a proactive manner, SAR was able to persuade public officials to listen to good, practical, common sense solutions on the proposed address ordinance.

Did you know there is now an opportunity to protect environmentally sensitive lands, while at the same time keeping more tax dollars in your own pocket?

Volume 6 • Issue 10 • OCTOBER 2009

15 Hot August!

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Property sales climbed 20 percent in August 2009 over this time last year, and pending sales continued to demonstrate future market strength.

18 The Trouble With HVCC

The new Home Valuation Code of Conduct has set off a wave of protests. Find out why in the first of a two-part series.

Secretary David Clapp RE/MAX Alliance Group Treasurer Michael Bruno Prudential Palms Realty Immediate Past President Helen Sosso Prudential Palms Realty

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 Director of MLS Information Systems Jesse Sunday Director of Professional Development Catherine McCaskill

In every issue

Governmental Affairs Director Marc Mansfield

10- Governmental Affairs 12- Property Appraiser 14- Ethics in Action 15- Sales and Listing Statistics 20- Education Programs 23- Broker Corner 26- Legal Q&A 27- Commercial Investment Division 28- WCR News 30- Membership News 32- Calendar of Education/Events

OCTOBER 2009

President-Elect Erick Shumway RE/MAX Alliance Group

Chief Executive Officer Kathy Roberts

12 Go Green for Green

President William Geller Suncoast International Realty

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

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 welcomed. 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.

2009 Copyright© by the Sarasota Association of Realtors®, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited.

Sarasota Realtor® Magazine

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Pat Englerth celebrates 20th year at SAR

Business experts say, “You can’t buy experience – it has to be earned.” And after 20 years at the Sarasota Association of Realtors, Pat Englerth has earned her accolades as an “experienced, knowledgeable and valued” professional member of the SAR staff.

Pat began her career at SAR on Oct. 9, 1989, hired by then-CEO John Parker to work for Patti Toms in the SAR Membership Department. At that time, SAR had roughly 1,300 members, and had just moved in to the current facility on South Tuttle Avenue.

“Since that time, I’ve worked for four other CEOs – Ann Guiberson, Jeremy Kirkham, Curt Singleton and Kathy Roberts,” said Pat. “We’ve also had a few membership directors, but I can say that Dan Andrews, our current director, has really evolved the position and made many positive changes to the day-to-day functions of the department. With Kathy Roberts and Dan, we’ve seen a major improvement in the way the membership department operates.”

Pat remembers the “old days,” when the MLS “system” was a paper-based system, not computerized as it is today.

Printed books of property listings had to be updated every two weeks, and members had to pay $40 to $50 for each new book. Computers eventually replaced the old-fashioned

methodology, giving members real-time, online changes to listing information that has proven invaluable to the real estate process.

Manual printing of various other materials was also a routine function of the membership department staff over the years, including various inserts in the monthly “newsletter” that was eventually replaced with the current professional magazine in 2004. The dues billing process, Pat Englerth which has also gone online, used to be very cumbersome and time-consuming. Boxes of invoices needed to be printed, sorted and mailed, and stuffing envelopes took hours on end and involved most of the staff.

“That was obviously a difficult task, which technology finally helped eliminate,” said Pat. “But I do miss some things that we used to do differently. For instance, we See PAT ENGLERTH, Page 9

Kristen Hertel is SAR Affiliate of the Month for October

Kristen Hertel, owner and closer for Advanced Title and Escrow Services, LLC, is the October SAR Affiliate of the Month.

Kristen’s business is located at 2100 Constitution Blvd., Suite 119 in Sarasota. Her phone number is 941-929-0600, and her email address is kristenadvancedtitle@verizon.net.

With 14 years experience closing a variety of transactions in Florida and Minnesota, Kristen Hertel noted, “I have the experience necessary to deal with today’s changing marketplace.” She has knowledge of the nuances of domestic and intyernational real estate requirements, resulting in nearly effortless closings for clients from around ther world.

SAR membership elects officers, directors for 2010 The SAR Officers and Directors for the 2010 Board of Directors were officially ratified by voice vote at the SAR Annual Meeting on Wednesday, Sept. 16. Here are the new board members: Officers: President-Elect - Michael Bruno, Prudential Palms;Treasurer - Laura Benson, Prudential Palms; Secretary - Roger Piro, Town and Country Directors to serve a 3-year term: Adam Chicoine, Wagner Realty;

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David Clapp, RE/MAX Alliance; Bryan Guentner, RE/MAX Platinum; Anthony Homer, Hembree & Associates; Christina Pitchford, Allen Real Estate.

Directors to serve a 2-year term (to fill a vacancy): Mike Rosario, Rose Bay Erick Shumway, RE/MAX Alliance Group, who serves as PresidentElect in 2009, will automatically become President on Jan. 1, 2010.

2009 President Bill Geller, Suncoast

Sarasota Realtor® Magazine

International, will continue on the Board as Immediate Past President.

Directors whose terms continue in 2010 are: Michelle BurkePhillips, Coldwell Banker; Matt Cannon, Michael Saunders & Company; Paula Cashi, Prudential Palms; Michelle Crabtree, Michael Saunders & Company; Darla Furst, Michael Saunders & Company; Ken Hoskinson, Jr., Hembree & Associates; Tim Mapp, Mapp Realty; Carla Rayman, Prudential Palms; and Dave Swenson, Exit Creative Realty.

OCTOBER 2009

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Cover Story

Making A Positive Difference

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SAR Realtors®, Affiliates - pillars of Sarasota community Editor’s note: Real estate professionals throughout the Sarasota region generously contribute their time, money, energy and enthusiasm to charitable and volunteer-related organizations and activities, and form one of the fundamental pillars of our community. As one of the largest trade groups, Realtors® make an incredible positive difference in the lives of so many people, and are a cornerstone of the Sarasota lifestyle and culture of giving.

“We are prone to judge success by the index of our salaries or the size of our automobiles, rather than by the quality of our service relationship to humanity.” – Dr. Martin Luther King Jr. “Let us not be satisfied with just giving money. Money is not enough, money can be got, but they need your hearts to love them. So, spread your love everywhere you go.” Mother Teresa “It is one of the most beautiful compensations of life, that no man can sincerely try to help another without helping himself.” - Ralph Waldo Emerson “In every community there is work to be done. In every nation there are wounds to heal. In every heart there is the power to do it.” – Marianne Williamson Commitment to community service and giving back has been a lifelong passion for some many SAR members, it would be impossible to recognize them all in one magazine article (or a thousand!). But we can recall some of the recent recipients of the SAR Humanitarian of the Year Award, and promote their example, that is followed by so many Realtors® and affiliates.

Last year, Michael Saunders was honored, not only for her individual efforts, but for her encouragement of members of her brokerage to support numerous local organizations and charities, including the American Cancer Society, Boys & Girls Clubs of Sarasota, First Step of Sarasota, Inc., and Habitat for Humanity.

In 2007, the award was presented to Denise Leider of Leider Realty Group, who has done and continues to do so much in our local community. In 2006, JoRita Stevens of Coldwell Banker won the honor for her service with the Healthy Start Coalition and the Healthy Families Sarasota Advisory Board, among many other charitable volunteer activities. In 2005, Cindi Jackson was recognized by SAR for her many years of service, particularly on the Community Outreach Committee.

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OCTOBER 2009

Honorees have been recognized throughout the 86 year history of SAR, but most of those who give back do so without any fanfare or public recognition. They just continue to try to make the lives of their neighbors better, and their community a better place to live.

They do it from the heart.

This year, at the Brush Up Sarasota painting event on Oct. 24th, the SAR Community Outreach Committee continues this spirit of giving. The group expects to assemble more than 100 SAR members and their friends to paint four churches on Martin Luther King Boulevard. It’s a massive undertaking, and will be assisted by the Front Porch organization, Booker High School, Friendship Volunteer Center and others.

But the major work will be done by members of the real estate community - agents, brokers and affiliate members of SAR. The project will be the fourth of the year for the committee, but not the last. In December, the group will participate in holiday events at the James A. Haley Veterans Hospital in Tampa, remembering our injured and sick veterans who are under treatment at the facility.

“We understand how important giving back to the community is, because we are such a big part of this community,” said Sandy McCourtney, this year’s chair

Sarasota Realtor® Magazine

See MAKING A DIFFERENCE, Page 9

www.sarasotarealtors.com

Stepping Forward!

From painting projects to the CID charity golf tourney, from the December Holiday event at the James A. Haley Veteran’s Hospital to countless individual contributions, the real estate community is “giving back� and making a positive difference in Sarasota!

Short sale flips that may make you flop!

By Sylvia Golden Norris In today’s market, it is not uncommon to become involved with investors who want to use a “flip” to make a profit.

These transactions are not by their nature bad or illegal, but they do require the Realtors® to be aware of the “special circumstances” these transactions entail. Below is short list of short sale flip information you should remember when involved in one of these transactions. The invitees to the short sale party are the seller, the investor (buyer #1), the end buyer (buyer #2), the forgiving lender, the loaning lender and the title company issuing title.

1. Check ownership: This means the “seller’s” name on the contract should be the same name in the tax rolls, deed and in the property appraiser’s records. Because flips quite often are set up with the use of a land or family trust you will see the sales contract in the name of the land trust and the title in the name of the seller! This initial step is important if you are working with the end buyer (buyer #2) or if you have the listing. (See paragraphs 3 and 6 below.)

Your job: ask when the trust was established and why.

This is the time to make sure you get consent from the Seller and the Investor to disclose the flip to any and all lenders involved and the end buyer.

2. Contract Language: a.) If you are a selling/cooperating agent for the end buyer (buyer #2), watch out for certain language in the sales contract or an addendum. The trigger language might include for example that “the investor will take title to the property just prior to closing” or that “a simultaneous closing will take place or there is no deal.” These provisions should alert you to a short sale flip. Some lenders for your end buyer will not fund this deal because the investor has not had title to the property for a sufficient length of time. (See also paragraph 3.) b.) If you are the listing agent and if the sales contract being used is unfamiliar to you, then insist the seller has legal counsel. Many investors (buyer #1) require the seller to use their version of the Short Sale As-Is contract, which includes language that is not in the seller’s best interest and are geared to the investor’s interest with little or no risk.

Further, “short sale approval letters” will likely contain the conditions under which the seller’s lender will forgive the loan. Lenders now are stating that if there is fraud in the transaction, the loan forgiveness is waived and the note and mortgage is in full force and effect! These issues are another very good reason to make sure lenders know what the deal is on both ends.

3. Loan issues: How long has title been in Seller’s name?

Because lenders require the seller to have had title for a

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OCTOBER 2009

certain minimum time period (in some cases 30 days, 90 days or 180 days) or the lenders will not loan funds to the end buyer (buyer #2), your end buyer will appreciate your knowledge of how to spot this issue. Also, if you fail to bring this to your buyer’s attention and the loan is given, your end buyer may very likely have an unfavorable title exception put in the owner’s policy. Finally, if your end buyer pays money for inspections and discovers they cannot get the loan because of who the seller really is, then you may be the person the end buyer looks to for reimbursement of these costs. Helpful Hint: Ask how long the Investor has owned the property.

4. Assignment/Option: Does this deal involve an assignment? If so, for a buyer to qualify for an FHA loan, “the seller must be the owner of record and cannot be someone who has an assignment.” This means that if the legal record owner in the public records and tax records do not match exactly, then no loan. An option contract will not meet this standard either. (See also paragraph 6.)

5. Title Issues: Title Companies and their underwriters are now requiring full disclosure be made in writing and received by the underwriter for title issuance to the end buyer. These written acknowledgments must be received from both the forgiving lender and the end buyer’s lender.

Regardless of what your role is in the transaction, make sure you have the consent of all parties to disclose the flip and other lender required information, which can be easily addressed in an addendum to each of the sales contracts.

Remember, if it is not a problem, then no one should have an objection to these disclosures.

6. Mid-Florida Regional Multiple Listing Service Rules and the Code of Ethics: Don’t let someone tell you (even a lawyer!) that you can list in the MLS an assignment of contract or an option contract, because MFR MLS rules forbid both and you can be fined. Remember you have to be able to show the documentation if requested by MFR that you have the consent of the owner to list the property.

As a reminder, even if the property is not listed in the MLS, you still must abide by the Code of Ethics and represent a true picture of the transaction.

7. Be aware of Conflicts of Interests: a) If an investor makes an offer to buy the beneficial interest or any interest in a property you have listed, remember you have an obligation to the owner/seller and you are still required to bring all offers sent to you to the record title owner/seller, unless the listing agreement or the seller advises you differently. b) To avoid any conflicts of interest as to what amount the

Sarasota Realtor® Magazine

See SHORT SALE FLIPS, Page 24

www.sarasotarealtors.com

MAKING A DIFFERENCE From Page 6

of the committee. “It has been wonderful to see so many SAR members taking part in our volunteer projects this year, and I think the Brush Up event will be the crowning jewel.”

Across the nation, Realtors® not only help make the dream of homeownership a reality, they also help build better communities. In small towns and large cities across the globe, Realtors® help shape and promote community values, giving their time and effort to noble causes. The initiatives highlighted below offer other examples of how Realtors® and the NAR are working to strengthen community bonds.

NAR Housing Opportunity Program NAR’s Housing Opportunity Program serves as the blueprint for Realtors® to become leaders in identifying, developing, advocating and promoting business opportunities, programs, products and resources that expand housing availability.

Realtor® Magazine Good Neighbor Award The Good Neighbor Awards recognize Realtors® who make extraordinary commitments to improving the quality of life in their communities.

Diversity Program The NAR has a vision of Realtors® being the leaders in a culturally diverse real estate market. Realtors® who are able to effectively reach out to all racial and ethnic groups in their community are not only positioned for success but can take pride in knowing that they have participated in the expansion of homeownership to all Americans.

Realtors® Hurricane Katrina Relief Following Hurricane Katrina, the NAR supported a number of relief efforts, including fundraising and providing counseling for Realtors® and local Realtor® association staff.

Sarasota was extremely active in these relief efforts.

Realtors® Tsunami Relief Project In response to the devastating tsunami in South East Asia, the NAR launched a fundraising effort to raise $1 million for Habitat for Humanity International’s tsunami rebuilding efforts. The tsunami relief project exceeded its goal, collecting more than $1.5 million in contributions from Realtors® and state and local associations.

Habitat for Humanity Habitat for Humanity brings families and communities in need together to build decent, affordable housing. NAR is proud to be a National Underwriter of Habitat for Humanity’s “Congress Building America, National Build Program,” joining Congress in building a home for a deserving family in Washington, D.C. HOPE Awards The HOPE Awards (“Home Ownership Participation www.sarasotarealtors.com

for Everyone”) recognizes up to seven organizations and individuals who are making outstanding contributions to the cause of increasing minority homeownership.

‘Within These Walls...’ Smithsonian Exhibition The NAR is the sole sponsor of the “Within These Walls...” exhibition at the Smithsonian National Museum of American History. Realtors® are proud to have this opportunity to showcase their commitment to educating the public about homeownership and its role in the American Dream.

If you aren’t yet “giving back,” why not get involved this year, and join the hundreds of SAR members who are making a difference in our community!

Kathy Roberts, CEO of SAR, presents Pat Englerth with a Certificate of Appreciation for 20 years with the Sarasota Association of Realtors® during the Sept. 16th SAR Annual Meeting.

PAT ENGLERTH From Page 5

had a bigger annual Installation Banquet, which used to attract over 300 people. And we had more social activities in my early days than we do now. Realtor® Day used to be huge, with golf, tennis and bowling, and hundreds of participants.”

Pat was recognized at the 2009 SAR Annual Meeting for her many contributions made in two decades with SAR, and received a well-deserved standing ovation from the crowd. When you see Pat this month, make sure you add your voice to those showing appreciation for her wonderful, and ongoing career at SAR!

Sarasota Realtor® Magazine

OCTOBER 2009

9

Governmental Affairs 10

Public Policy Committee provides valuable input on Sarasota County Address Ordinance

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By Marc Mansfield Governmental Affairs Director In February of this year, Sarasota County Building Officials and the Fire Marshal met with Public Policy Committee members and presented an outline on the upcoming proposed Addressing Ordinance for the unincorporated area of Sarasota County.

The committee requested the meeting with county officials after an SAR member expressed concern that the proposed Ordinance might pose challenges to Realtors®, developers and local residents. According to county officials, the purpose of the Ordinance was to “ensure that all structures and dwellings in the County have a unique, validated and easily identifiable street name and number.” The unique address would be used by all Public Safety personnel such as Emergency Services, Fire and Sheriff, and would help citizens locate businesses and residences. The Ordinance as presented required some street names and address numbers to be changed and staff explained they would make every effort to minimize any impact upon those whose address may need to be changed.

After listening to the presentation from the County staff, the committee agreed there was a need for some changes, but were concerned with the overall impact and reach the Ordinance would have on Realtors®, the business community and residents. For example if a business on Bee Ridge road fronted Bee Ridge Road one might expect the business to have a Bee Ridge address; however, based upon language in the proposed Ordinance that might not occur if the business had ingress/egress from another road. In addition there was concern expressed with regards to the associated costs that would impact both businesses and residents who would be required to change either their address, street name or both. Additionally, cost associated with appealing administrative decisions was, in the opinion of the committee, too expensive and there was concern that cities within the County may not participate in the process. Based upon these concerns and other issues regarding the proposed Ordinance, the Public Policy Committee agreed to create a small working group to review and provide recommendations on the proposed Ordinance.

The working group first met in March and reviewed the Ordinance section by section for areas of concern and proposed recommendations. Because public safety was given as the paramount reason for establishing a new addressing ordinance, the working group

OCTOBER 2009

visited the 911 Emergency Call Center and observed established procedures for incoming and outgoing calls for assistance. In addition the working group observed how a call for assistance was dispatched to a sheriff vehicle and how that vehicle found a specific address.

After reviewing the proposed Ordinance and visiting the call center, the working group submitted their recommendations to the Public Policy Committee, who in turn approved the recommendations and submitted the recommendations to the SAR Board of Directors.

After receiving approval from the Board of Directors a side by side comparison was created reflecting the Ordinance language and the recommendations from SAR. (See table at right, and posted online) Armed with the side by side comparison SAR met with the County Commissioners on an individual basis in late July to express concerns and submit recommendations on the proposed Ordinance. The meetings were cordial and each Commissioner thanked the group and SAR for their efforts and expressed support for many of the recommendations submitted.

After meeting with the County Commissioners, the working group continued to monitor the proposed Ordinance and prepared for the upcoming County Commission meeting when the Ordinance would be reviewed by staff and Commissioners. On September 8, 2009 the proposed Ordinance was submitted by staff to the Commission for review. Several SAR recommendations had already been incorporated into the Ordinance, and during the public hearing additional SAR recommendations were requested to be added by the Commissioners themselves. Because the additional recommendations require changes to the Ordinance, Commission approval was delayed until October 14th. The Public Policy Committee will be in attendance on October 14th when the final version of the Addressing Ordinance is presented to the County Commission.

There will certainly be impacts to businesses and

Sarasota Realtor® Magazine

See ORDINANCE, Page 24

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SAR RECOMMENDATIONS ADDRESSING ORDINANCE Address Review Board is comprised of elected and public Address Review Board should have two private citizens appointed. Ideally one appointed officials. There are no private citizens on the board. should be a Realtor® and one with a transportation/delivery/utility background.

Address Coordinator will, within fifteen (15) business days, Address Coordinator shall, within fifteen (15) business days, approve or reject the requested street name(s). Failure to reject the requested street name shall result approve or reject the requested street name(s). However, in default approval of the requested street name(s). failure to reject the requested street name shall not result in a

default approval of the requested street name(s).

If applicant desires to create one or more additional units within Suite numbers should be utilized within multi‐unit buildings rather than a separate address. Suite numbers provide a larger range of choices in multi‐unit buildings a building, then the applicant shall seek approval of a separate and unique address for each unit from the Address Coordinator. between existing addresses without changing the address number.

Multi‐unit buildings address assignments should be based on a major frontage At the request of the Addressing Coordinator, the Fire Marshal road as opposed to an ingress/egress or service road if three of the following five and 911 Coordinator shall provide guidance and technical criteria are met: expertise on all applications involving commercial or industrial *Building orientation faces and is parallel to a major frontage road. projects with multiple buildings. *Majority of units within the building face and are parallel to the major frontage

road.

*Majority of building front doors face and are parallel to the major frontage road.

*Front yard parking or parking surface face or is parallel to major frontage road.

*Neighboring properties on either side have an address on the major frontage

road.

In the above situations, all addresses will be assigned in a uniform manner to

conform to the range of addresses for the neighboring properties.

Multi‐unit stacked stand along building units with multiple ingress/egress drives

that are situated in the front sector of the development and meet the above

criteria should have addresses on the major frontage road; all other units beyond

the first row of units or beyond the first ingress/egress access road parallel to the

major frontage road should be addressed on the ingress/egress road rather than

the major frontage road.

Implementing the collection of longitude and latitude for all new commercial Applicants shall provide the longitude and latitude listing for development should also include a phased in time bound collection of similar data each address request within each application. for existing commercial properties. This data collection should also include

coordinates for each building; electrical/mechanical rooms and fire monitoring

control panel and ingress/egress points. In addition geo‐coding should include the

main entrance and as a cost savings geo‐coding the middle of the building(s) rather

than every door within a multi‐unit building.

Request for street name change requires a fee of $250. This fee should be reduced Any person who is affected by a proposed street name change to a more reasonable amount. This fee will prohibit citizens from making these or correction may request the Addressing Coordinator types of request. reconsider such change or correction within thirty (30) days of

the date of the Notice of Intent to Change or Correct Street

name. The request shall be in writing and shall explain the

reasons for the request. Along with the filing request a fee of $250 must be submitted for each street name that is the subject of the request.

Any person receiving an adverse street name decision from the Appeal of Address Coordinator’s decision requires a fee of $500. This fee should Addressing Coordinator shall have the right to an appeal to the be reduced to a more reasonable amount. This fee will prohibit citizens from Address Review Board. All appeals to the Address Review Board making this request. The street name change and appeal should not be viewed as a revenue producer for Sarasota County but more of a fair and balanced process must be filed in writing within fifteen (15) business days of the for county citizens. Current time period of fifteen (15) days to appeal to Address date of the Addressing Coordinator’s decision. Along with the Review Board should be increased to thirty (30) days for new development and appeal a fee of $500 must be submitted for each street name decision which is the subject of the appeal. The Address Review sixty (60) days for reassignment. Twenty‐one (21) days to render a decision is an appropriate amount of time but in no circumstances should it be increased.

Board shall render a decision within twenty‐one (21) days after

hearing.

General Statements Regarding Ordinance: Current issues regarding landline and cell phone pose challenges for emergency personnel to locate a specific location. Technological advances within the near future will provide solutions to this challenge. Recommend large and visible numbers be required for all addresses. Tamiami Trail poses a difficult challenge for address renumbering particularly as the road runs along various governmental units and municipalities. Duplicate addresses and out of sequence numbering will still exist due to the non participation of various governmental and municipal entities. One alternative is to change the existing street signs to include the name of the governmental or municipality name under the existing street sign. For example as Tamiami Trail runs through Nokomis the sign would reflect Tamiami Trail on top and Nokomis on the bottom. Street and/or address changes may result in Title Insurance issues. This should be investigated prior to Ordinance adoption. Support renumbering addresses that are out of sequence; Oppose renaming of streets.

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Sarasota Realtor® Magazine

OCTOBER 2009

11

Property Appraiser

Going ‘green’ means getting green back GOING GREEN MEANS GETTING GREEN BACK!

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For more information, contact the Property Appraiser’s office at 941.861.8200.

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In the spring of 2009 the Florida Legislature passed HB 7157, creating §196.26 Florida Statutes: Exemption for real property dedicated in perpetuity for conservation purposes. For you and your customers this

By Bill Furst, GRI, CRS, CIPS means there’s now an opportunity to protect environmentally sensitive Sarasota County Property Appraiser lands while keeping tax dollars in your wallets.

In the spring of 2009 the Florida right hand for infomation on Starting January 1, 2010, owners of non‐commercial land of 40 acres or Legislature passed HB 7157, creating other organizations that manage more that is dedicated in perpetuity for conservation purposes may file §196.26 Florida Statutes: Exemption conservation easements. for a 100% exemption. If the dedicated 40+ acres is commercial property for real property dedicated in it may be eligible for a 50% exemption. Dedicated in perpetuity means If your land contains less than perpetuity for conservation 40 contiguous acres, and meets any the land is encumbered by an irrevocable, perpetual conservation purposes. easement. These easements survive sales, inheritances, and even tax of the criteria listed at right, it For deed sales. you and your customers this may qualify for exemption if the means there’s now an opportunity Acquisition and Restoration Council, Buildings and other improvements on exempt land will be assessed to protect environmentally sensitive (a State agency), determines that the lands separately. If the commercial use of the land is agricultural the owner while keeping tax dollars in land fulfills a clear state conservation policy and yields a significant public your wallets. must comply with best management practices.

Starting January 1, 2010, owners of benefit.

Easements may be granted to government agencies or to a charitable You should contact the ARC at non-commercial land of 40 acres or organization whose purpose is to protect natural, scenic or open space; more that is dedicated in perpetuity www.floridaforever.org and click assuring availability of agricultural, forests, recreational or open space for conservation purposes may file on the quick link to the Acquisition use; or protecting natural resources. In Sarasota County, the Sarasota and Restoration Council to request for a 100% exemption.

Conservation Foundation and the Wildlife Land Trust are already If the dedicated 40+ acres is further information. managing conservation easements. See the link to the right for In order to be eligible for the commercial property it may be eligibleinformation on other organizations that manage conservation easements. for a 50 percent exemption. exemption an owner must apply to the

Dedicated in perpetuity means Property Appraiser by March 1, and If your land contains less than 40 contiguous acres, and meets any of the the land is encumbered by an must include a copy of the recorded criteria listed at right, it may qualify for exemption if the Acquisition and irrevocable, perpetual conservation document establishing a conservation Restoration Council, (a State agency), determines that the land fulfills a easement.

These easements survive easement. Recorded easements must clear state conservation policy and yields a significant public benefit. You sales, inheritances, and even tax deed include documentation of the values to be protected and a management sales. should contact the ARC at www.floridaforever.org and click on the quick link to the Acquisition and Restoration Council to request further Buildings and other improvements plan. information.

• The Department of Revenue on exempt land will be assessed

is in the process of developing an separately.

If the commercial use of In order to be eligible for the exemption an owner must apply to the application form. the land is agricultural the owner Property Appraiser by March 1, and must include a copy of the recorded must comply with best management • The Department of document establishing a conservation easement. Recorded easements practices.

Environmental Protection is in must include documentation of the values to be protected and a the process of compiling a list of Easements may be granted management plan. conservation organizations. to government agencies or to a

charitable organization whose • The Acquisition and The Department of Revenue is in the process of developing an purpose is to protect natural, application form. scenic Restoration Council (ARC) is or open space; assuring availability in the process of developing  The Department of Environmental Protection is in the process of of agricultural,compiling a list of conservation organizations. forests, recreational procedures to oversee lands of less or open space use; or protecting than 40 acres.  The Acquisition and Restoration Council, (ARC), is in the process natural resources. of developing procedures to oversee lands of less than 40 acres.

You can always contact our office In Sarasota County, the Sarasota for information on exemptions.

Conservation Foundation and We will provide you with the most You can always contact our office for information on exemptions. We will the Wildlife Land Trust is already up-to-date information we have on provide you with the most up‐to‐date information we have on this managing conservation easements. this valuable new benefit. valuable new benefit.

Acquisition and Restoration Council Exemption Criteria for Property of Less than 40 Acres

The Council must give particular consideration to land that:

* Contains natural sinkholes or springs that serve a water recharge or production function.

*Contains a unique geological feature.

*Provides habitat for endangered or threatened species.

*Provides nursery habitat for marine and estuarine species.

*Provides protection or restoration of vulnerable coastal areas.

*Preserves natural shoreline habitat.

*Provides retention of natural open space in otherwise densely built‐up areas.

The Florida Department of Environmental Protection recommends contacting the Land Trust Alliance, a national group of organizations certified to manage conservation easements, for information on organizations operating in Southwest Florida. Their website is www.landtrustalliance.org.

Please see the link at the bottom

OCTOBER 2009

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Conservation Easement Tax Exemption Flowchart Conservation Easement on Property?

Yes

No

At Least 40 Acre Property?

Non‐Exempt Non Exempt

No

Yes

Yes

50% Tax Exempt

Commercial Property?

No

Approved A d

by ARC?

No

Yes

100% Tax Exempt 100% Tax Exempt

100% Tax Exempt

Non‐Exempt

Anthony Homer named Newcomer of Year

Anthony Homer, an SAR member, has been named Florida Realtors® 2009 Newcomer of the Year. The award was presented during the state association’s 93rd annual Convention & Trade Expo in Orlando.

The Newcomer Award recognizes an outstanding individual who has entered the Realtor® profession within the past three years or less, and during that time has made notable contributions to the local Anthony Homer and state associations, as well as to his or her community.

Anthony, a commercial agent with Hembree & Associates, is a charter member of Sarasota Young Realtors®, a group formed in 2007 to involve younger Realtors® in SAR.

www.sarasotarealtors.com

He was vice chair for the group in its inaugural year and chairman in 2008. Under his leadership, the group developed an economic summit that brought together panelists from various segments of the real estate industry to discuss the state of the local market. Homer served as the moderator for that panel; the event was so popular it was repeated this year.

While Homer focuses on commercial real estate, he grew up in Hong Kong, which sparked a strong interest in international real estate and partnerships. He served on the local association’s International Steering Council, participated in the International Real Estate Congress and attended most of its monthly international education programs. He also is a member of SAR’s Commercial Investment Division and serves on its Board of Directors.

Homer graduated from SAR’s inaugural Emerging Leaders Program, and will be a member of SAR’s Board of Directors in 2010.

Sarasota Realtor® Magazine

OCTOBER 2009

13

Ethics in Action

Most disputes involve agency issues

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14

must show that they initiated an unbroken chain of events that resulted in the deal between the buyer and the seller.)

Despite nearly two decades of effort to clarify agency On agency matters, breach of fiduciary duty is one laws at the state level, agency issues continue to create of the biggest sources of disputes. The main problem, risk for sales practitioners. according to the Legal Scan, is that many practitioners According to the National Association of Realtors® are unclear about the breadth of responsibility owed to clients. “It is easy to 2009 Legal Scan, agency underestimate or issues—including breach of fail to appreciate the fiduciary duty, dual agency, level of duty that agency disclosure, and buyer is required,” one representation—are among survey respondent the biggest sources of legal wrote. disputes involving real estate professionals and are expected The report also to become more prevalent in cited problems with the courts in the next two disclosure of agency years. relationship.

Practitioners NAR’s Legal Scan is a are supposed to comprehensive research disclose agency project produced biennially. relationships Through surveys of real at their first estate commissioners and substantive contact other key people in the real with customers, estate industry, along with a but the disclosure is close analysis of case law and “often overlooked recently enacted state statutes, and not sufficiently the report sheds light on top On agency matters, breach of explained to legal issues facing today’s real fiduciary duty is one of the biggest prospects,” one estate professionals. respondent said. sources of disputes. The main The only topic generating At the statutory a higher number of disputes problem, according to the Legal level, states than agency issues is money— continue to heavily Scan, is that many practitioners more specifically, who gets regulate agency the commission. “In these are unclear about the breadth of relationships. difficult economic times, The Legal Scan responsibility owed to clients. each commission dollar is identifies 144 carefully guarded,” one survey a g e n c y r e l a ted respondent wrote. “Brokers statutes enacted in are fighting over a smaller pot the last two years, of money,” said another. by far the highest The increase in commissionnumber among all related arguments also legal topic areas may stem from a lack of and about the same understanding about procuring number as in the 2007 report. That suggests a persistent cause. Several respondents noted that licensees do level of uncertainty about requirements. not understand what it is. That—along with fewer Other major areas of concern, according to the report: transactions overall—leads to more disputes. (To property-condition disclosure and issues related to the demonstrate that they are the procuring cause of the federal Real Estate Settlement Procedures Act. sale and are entitled to a commission, practitioners

By Robert Freedman Realtor® Magazine Online

OCTOBER 2009

Sarasota Realtor® Magazine

www.sarasotarealtors.com

a

Property sales in August up 20 percent over last year; inventories remain low

a

August 2009 saw an almost 20 percent increase in local property sales than reported in August 2008, most likely fueled by the $8,000 first-time homebuyer tax credit, an economy in the midst of recovery after a two-year recession, and continuing low interest rates.

Total sales nearly reached the 500 level again, with 496 properties changing hands.

The total included 382 homes and 114 condos. This compares to 329 homes and 86 condos sold in August 2008, for a 19.5 percent increase from last year at this time.

The total was an expected drop from the July 2009 overall sales of 595, due to the traditional slower summer season. But the fact that sales did not dip as low as last year brought a sigh of relief from most local real estate brokers.

Most of the statistics continue to point to a market in the initial stages of recovery. Inventory levels continued to decline. There were 3,949 single family homes for sale at the end of August, compared to 4,067 for sale at the end of July, and down 11.8 percent from the 4,477 at the end of June.

Condos experienced a similar decline, to 2,343, from 2,447 at the end of July and 2,587 at the end of June. Inventory remains at the lowest point in more than 5 years – a good sign for a market in recovery.

In August 2008, the inventory of unsold single family homes stood at 6,461 – roughly 63 percent higher than this year. For condos, there were 2,407 properties on the market in August 2008 – nearly the same as this year’s figure of 2,343.

The number of months of inventory – the time it would theoretically take to sell all the current properties on the market – now stands at 10.34 for single family homes. This figure is slightly higher than the 9.04 for single family in July 2009, but significantly lower than the figure of 19.64 in August 2008.

For condos, the current months of inventory stands at 20.5, somewhat higher than the 16.9 months in July, but substantially lower than the 28 months in August 2008. The overall trend for the past two years, excluding some monthly aberrations, is downward toward the figure of 6 months, which indicates a market in balance (anything below 6 months indicates a return to a seller’s market).

Prices are also remaining at more realistic, sustainable levels, with the median sale price for single family homes at $155,000 in August 2009, down from the $185,000 in July 2009, but very close to the figure seen in January, February, March

www.sarasotarealtors.com

and May this year. The median sale price for condos was $285,000, much higher than the $212,000 figure seen in July, and almost at the $295,000 level reported in August 2008.

The median price for all single family homes sold in the past 12 months stood at $165,000, compared to a median of $255,000 for the 12 months ending in September 2008. For condominiums sold in the past 12 months, the median sales price was $200,000, compared to $330,000 for last year at this time.* Pending sales also remained high and consistent, with 830 properties going under contract in August 2009, compared to 802 in July 2009. Pending sales have dropped off slightly from the 929 reported in May 2009 and the near record 981 pending sales reported in April 2009. But the total of 830 was still 53 percent higher than the 541 pending sales reported in August 2008. Pending sales have now exceeded the 500 level for the 20th consecutive month and the 800 level for the sixth straight month. Generally, pendings trend downward during the summer months, the slower sales season in our market.

The statistic is a strong indicator for the next two or three months of sales, when many of these pendings will become closed sales. Pending sales reflect contracts executed by buyers and sellers during the month.

“We are continuing to encourage our members to educate their clients and potential clients on the $8,000 tax credit for first-time home buyers, as we are rapidly approaching the expiration time of Nov. 30, 2009, when these types of sales must be finalized,” said 2009 SAR President Bill Geller of Suncoast International Realty. “With the higher levels of short sales and foreclosures remaining in our local market, we can reasonably expect our sales statistics to be skewed.

However, we may be seeing a turning point in recent months, as the numbers seem to have bottomed out for single family prices.”

Geller said that, lacking a crystal ball, it is difficult to predict what will happen during the remainder of the year. But lower inventories, sales remaining above the 500 level, and higher pending sales figures all point to a return to stability.

“We appear to have weathered the storm well, and while tomorrow’s economic weather forecast remains to be seen, I’m confident and enthusiastic about our future prospects,” explained Geller. “People who live here and our visitors know that there is no place like Sarasota, and the selling points for this area are obvious.”

Sarasota Realtor® Magazine

OCTOBER 2009

15

Sarasota MLSSM Statistics August 2009 Single Family Condo

Unit Sales 500 450 400 350 300 250 200 150 100 50 0 Aug‐08

Sep‐08

Oct‐08

Nov‐08

Dec‐08

Jan‐09

Feb‐09

Mar‐09

Apr‐09 May‐09

Jun‐09

Jul‐09

Aug‐09

Single Family Condo

Median Sale Price $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 Aug‐08

Sep‐08

Oct‐08

Nov‐08 Dec‐08

Jan‐09

Feb‐09

Mar‐09 Apr‐09 May‐09 Jun‐09

Jul‐09

Aug‐09

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

3949

382

9.7

179

$155,000

$165,000

10.34

621

15.7

792

185

This Month Last Year

6461

329

5.1

179

$250,000

$255,000

19.6

462

7.15

910

423

4067

450

11.1

208

$185,000

$172,000

9.04

617

15.2

505

164

‐

3351

‐

179

$160,000

‐

‐

5845

‐

5892

‐

Oct 93.1 ‐

Nov 92.0 ‐

Dec 93.0 ‐

Last Month YTD

Jan 92.0 93.0

2008 2009

Single Family – Sale Price Vs. List Price % Rates Feb 92.0 93.1

Mar 93.2 92.5

Apr 93.3 92.4

May 92.0 93.2

Jun 93.0 93.8

Jul 93.0 93.2

Aug 92.0 93.6

Sept 93.1 ‐

Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of September 10th, including some listings in Manatee, Englewood, Venice, and other areas. Single-family statistics are tabulated using property styles of singlefamily and villa. Condo statistics include condo, co-op, and townhouse.

Source: Sarasota Association of Realtors® 16

OCTOBER 2009

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Sarasota MLSSM Statistics August 2009 Single Family Condo

Inventory 8,000 6,000 4,000 2,000 0 Aug‐08 Sep‐08

Oct‐08 Nov‐08 Dec‐08

Jan‐09

Feb‐09 Mar‐09 Apr‐09 May‐09 Jun‐09

Jul‐09

Aug‐09

Single Family Condo

Pending Sales 900 800 700 600 500 400 300 200 100 0 Aug‐08

Sep‐08

Oct‐08

Nov‐08

Dec‐08

Jan‐09

Feb‐09

Mar‐09

Apr‐09 May‐09

Jun‐09

Jul‐09

Aug‐09

Condo

#Active

#Sold

%Sold

Average DOM

Median Sale Prices

Median Last 12 Months

Months of Inventory

Pending Reported

%Pending

# New Listings

# Off Market

2343

114

4.9

230

$285,000

$200,000

20.5

209

8.9

203

257

2407

86

3.6

221

$295,000

$330,000

28.0

79

3.3

270

312

2447

145

5.9

225

$212,000

$212,010

16.9

185

7.6

245

233

‐

977

‐

202

$210,000

‐

‐

1513

‐

2570

‐

Nov 91.0 ‐

Dec 91.0 ‐

This Month This Month Last Year Last Month YTD

2008 2009

Jan 91.0 91.0

Condo – Sale Price Vs. List Price % Rates Feb 91.1 90.2

Mar 91.0 90.4

Apr 91.0 92.2

May 92.0 90.1

Jun 92.0 91.4

Jul 93.0 92.1

Aug 90.0 92.4

Sept 90.0 ‐

Oct 91.0 ‐

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, while pending sales account for contracts executed by buyers and sellers during the month, that may not have closed yet. 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

OCTOBER 2009

17

The trouble with the Home Valuation Code of Conduct

y

First in a Two-Part Series

By Blanche Evans & Stacey Moncrieff Realtor® Magazine Online

“You can’t make this up,” New York appraiser Jonathan Miller riffed in his entertaining blog, Matrix, back in June.

Miller was recounting the frustration of a real estate salesperson who was trying to refinance her own New York apartment with her current lender. According to Miller’s telling, the out-of-town appraiser walked into the apartment, threw his hands in the air, and asked “How am I supposed to appraise this thing?”

That story sums up the feeling of many in the real estate industry toward the new Home Valuation Code of Conduct, a set of rules created to prevent those who stand to profit from a real estate transaction from putting undue pressure on the appraiser.

The rules, which went into effect May 1 for all conventional, single-family loans destined for sale to Fannie Mae or Freddie Mac, prohibit mortgage brokers and real estate brokers from ordering appraisals and require that lenders erect a firewall between loan production staff and the appraiser. Sounds reasonable. After all, the appraiser is there to assure that the lender’s funding decision is sound, right?

Since the rules took effect, however, they’ve set off a firestorm of protest around the country.

Appraisers say the HVCC threatens their livelihood, leads to low-quality appraisals, and increases the cost to consumers. Their ire is focused mainly on large appraisal management companies (AMCs), which they say are unjustly benefiting from the rules. Real estate brokers and salespeople say the rules are delaying closings and killing deals.

“Although the intent of the HVCC was good, in practice, it’s not reasonable,” says Joe Sabella, of Imperial Appraisals LLC in Fairfield, Conn. “The very people who were intended to be protected by the rules are the ones getting hurt.”

18

OCTOBER 2009

Charlie Elliott, MAI, SRA, owns Century 21 franchises in Greensboro and Boone, N.C., and operates an independent appraisal management company. The idea of the firewall, he says, is critical to avoiding the kind of mortgage fraud that took place during the boom years.

“Wink-and-nod collusion has gone on between loan originators and appraisers in a wholesale way,” Elliott says.

“The loan officer cashes in on commissions at closings, and the appraiser solidifies his position to receive orders for that lender’s future business. We as taxpayers have paid outrageous sums to bail out banks in support of this cozy arrangement.”

The trouble, Elliott says, is that the new code is vague and confusing. “It’s somewhat reminiscent of the story of

Sarasota Realtor® Magazine

www.sarasotarealtors.com

the horse being put together by a committee and the result being a camel.”

Indeed, the six-page HVCC is so difficult to interpret that Fannie Mae has produced an eight-page document of frequently asked questions. Freddie Mac has published guidance, too—and still many questions remain unanswered.

Miller says he and his friends refer to the HVCC as “havoc.”

How did things get so messy?

The Great AMC Debate

When the real estate boom went bust, people naturally asked: How did this happen—and how can we prevent it from happening again?

One of those people was New York State Attorney General Andrew Cuomo. In 2007, Cuomo launched an investigation into the practices of one AMC. In October of that year, he filed suit claiming that executives at Washington Mutual (now part of JP Morgan Chase) had successfully pressured the AMC, eAppraiseIt, to use the lender’s proven appraiser

Appraisers say the HVCC threatens their livelihood, leads to low-quality appraisals, and increases the cost to consumers. list in order to ensure that appraisals were “hitting their mark.”

Such pressure, it’s widely acknowledged, helped lead to the rise and precipitous fall of the housing market. The suit is still pending.

Figuring the eAppraiseIt case was just the tip of the iceberg, Cuomo threatened Fannie Mae and Freddie Mac with subpoenas and an investigation of alleged widespread appraisal inaccuracies in the companies’ portfolios. Fannie and Freddie then began discussions with Cuomo on what policies could eliminate lender pressure on appraisers. Their joint solution: the Home Valuation Code of Conduct, which was finalized just four months before the May 1 effective date.

Independent appraisers immediately cried foul. “The easiest way for lenders to comply with the HVCC firewall rules is to work with an AMC,” says appraiser Francois (Frank) K. Gregoire, IFA, RAA, with Gregoire & Gregoire Inc., of St. Petersburg, Fla. “The HVCC sets up AMCs as the guardians of appraiser independence, and isn’t it ironic that the investigation that prompted the rules centered on an AMC allegedly manipulating the system to please its customer?”

For appraisers whose assignments came mostly through mortgage banks and brokers, the code has amounted to a reversal of fortune. Business relationships they’d nurtured for years suddenly dried up. “It literally killed the independent appraiser industry,” says Sabella, who has been in the business since 1985.

That’s not to say appraisers can’t work with AMCs. Many do. The appraisal management function has been around for 40 years, and Elliott says AMCs provide important followup, review, and record-keeping services to their clients.

For the largest lenders, AMCs are simply the way business is done today. “When you’re ordering thousands of appraisals every single day, the risk to you is extraordinary,” says Jeff Schurman, executive director of the Title/Appraisal Vendor Management Association in Pittsburgh, which represents a variety of settlement service vendors, including large AMCs. “Would it make sense to hand those off to thousands of [independent] appraisers?”

AMCs help lenders control their costs, Elliott says. “In the past, banks spent money they couldn’t recoup. AMCs enable them to outsource those costs and report one fixed cost to the consumer.”

In addition to helping banks’ bottom line, the decision to outsource appraisal management is part of a growing corporate trend toward decentralized control through various types of cooperative arrangements, Schurman says. “It’s a classic make or buy model for conducting commerce.”

Not surprisingly, as banks have grown, AMCs’ market share has increased. In the mid-1990s, AMCs accounted for only about 5 percent of all appraisals, according to a 1996 article in Appraisal Update. But Elliott estimates that half of appraisals today are ordered through AMCs, and almost everyone agrees that the percentage is increasing as a result of the HVCC. Yet many appraisers are frank in saying they’d rather quit the business than work with an AMC. They say AMCs add costs for consumers while forcing appraisers to work with impossibly fast turnaround times at cut-rate prices.

Consumers pay for the appraisal but are usually left in the dark about how much the appraiser was paid to complete the appraisal report.

“It’s very clear, under the current manner of doing business, that a fee paid to the appraiser through the AMC is not disclosed on the HUD-1 form,” Gregoire says. “Instead, the HUD-1 shows the appraisal fee charged to the borrower.

I’d say in most cases that fee is between $375 and $550 and the appraiser is being paid 40 percent to 50 percent of that fee.”

Gregoire says he gave up AMC work 15 years ago after he discovered that he was just breaking even on assignments.

Compounding the problem for appraisers: Since April 1, they’ve been required to complete a detailed new Fannie Mae market conditions form. Most appraisers say the form’s a good thing—but it’s added work they aren’t being paid for, they say.

NEXT MONTH, SEE PART 2, OR VISIT OUR WEB SITE FOR THE COMPLETE ARTICLE IN HOT TOPICS.

Education Programs

Get the scoop on distressed property sales Certified Distressed Property Expert Dates: Oct. 19-20 Time: 9 a.m. to 5 p.m.

Location: Hyatt Regency Sarasota Cost: $449 Just added! This two-day certification course is the right course at the right time. Visit the CDPE website for more details: www.CDPE.com . You can also call toll-free at 800-482-0335.

Your designation will include: • 2 Days of Classroom Instruction • 170+ Page Distressed Property Field Manual • One Year CEPE membership • Complete Short Sales Forms Disk • Checklists for Distressed Situations • Foreclosure Solutions Flow charts • Sample Short Sale Package • Monthly Follow-Up and New Information Updates • Full Use of the CDPE Logo and Designation

Seven Keys program continues in October

Dates: Oct. 5 - Nov. 11 SAR Member Cost: $10 per 3-hour session Non-SAR Members: $20 per session

So, you’re back from summer vacation and ready to gear yourself up for the selling season.

The Professional Development Committee has prepared this backto-basics course with you in mind.

It’s just what all the experts have been saying that everyone needs to tackle this challenging market.

Learn how you can get back on the ladder to real estate success!

This is a practical, hands-on course that will complement the more theoretical training received in license and post-license courses.

The program is based on the time-tested “Real Estate Success Series” developed by the National Association of Realtors® and updated and customized for the 20

The course is sponsored in our area by the Sarasota and Manatee Association of Realtors®. A discount of $100 on the regular course price ($599) has been made available to SAR and MAR members.

OCTOBER 2009

Sarasota market by the Florida Association of Realtors® and the Sarasota Association of Realtors®.

Mark your calendar now! The following classes will be held from 9 a.m. to Noon at the Sarasota Association of Realtors®:

Sarasota Realtor® Magazine

The Professional: Goal Setting, Time Management, Successful Selling—Monday, Oct. 5, David Clapp, RE/MAX Alliance Group Property Inspection and CMAs—Wednesday, Oct. 21, Kim Gilliland, Prudential Palms Listing Presentation—Monday, Nov. 2, Georgina Clamage, Michael Saunders & Company Marketing the Property and Servicing the Listing—Wednesday, Nov. 4, David Swenson, Exit Creative Realty Buyers: Qualifying, Selecting and Demonstrating Property, Presenting Offers—Wednesday, Nov. 11, Laura Benson, Prudential Palms Complete instructor details are now available on the SAR web site (www.sarasotarealtors.com).

Please note - there will be no Continuing Education credits from these courses.

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Make MLXchange work for you!

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 Oct. 5, 9 a.m. to Noon Oct. 20, 9 a.m. to Noon 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.

This is a mandatory session for all new users.

- 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 - Personalize user contact information Entering and Updating Listings in MLXchange Oct. 5, 1:30 to 3:30 p.m.

Oct. 20, 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

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- 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 Design Web Pages, Capture Leads Oct. 7, 1:30 to 3:30 p.m.

One of the most crucial components in today’s real estate professional’s day-to-day 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 hand-in-hand with a successful real estate business. iMapp - Interactive Tax and Mailing Labels Oct. 7, 9 a.m. to Noon In this class you will learn how to use the tax search features of MLXchange, access iMapp’s interactive maps, tax data, comparables, auto-valuations, and easily create mailing labels for your favorite area.

- MLXchange tax search, using map and field searches, printing mailing labels - iMapp tax search, viewing parcel, GIS, MLS listings, zoom levels, street, aerial and flood zones - Measuring tool, pan and save map - Creating, viewing and downloading mailing labels - Illustrate the link to the tax appraiser website - Viewing and modifying the criteria for comparable properties - MLS and foreclosure searches

Sarasota Realtor® Magazine

Creating a Professional CMA Oct. 19, 9 a.m. to Noon 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 hand-in-hand with a successful real estate business.

MLXchange Advanced Oct. 19, 1:30 to 3:30 p.m.

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 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 and setting defaults Tools-MongoFax, RatePlug, ShowingTime and MLXchange Wireless Oct. 22, 1:30 to 3:30 p.m.

This class introduces the user to the often overlooked plug-ins and features that are designed to save you time and money, as well as adding an extra level of service to your customer.

- MongoFax - Fax any document directly to any email address in the world - RatePlug - Include mortgage options from your three favorite lenders for each listing - ShowingTime - Automate and document showing appointments - MLX Wireless - Access MLXchange from your mobile phone

OCTOBER 2009

21

Save and gain expertise on resort and second home markets SPECIAL PRICE Resort & Second Home Markets Course Dates: Oct. 27-28 Times: 8:30 a.m. to 5 p.m.

Location: SAR Auditorium Cost: $139 (first-come, first-served, space limited!)

Instructor: Jim Dague, Las Vegas, NV The Resort and Second Home Property Specialist (RSPS) certification is on sale! Take advantage of this one-time low price offer.

RSPS certification prepares Realtors® to service the growing resort and second-home market in their communities. This

designation is awarded by the National Association of Realtors® Resort Specialty division to real estate practitioners in the United States and foreign countries who meet the specified educational criteria.

CONGRATULATIONS!

Dedication and hard work pay off!! We congratulate our members who recently completed the requirements for these National Association of Realtors® certificate programs: GRADUATE REALTOR® INSTITUTE (GRI) E-Pro, (E-Pro) and the Council of Residential Specialist, Certified Residential Specialist Designation. (CRS), Resort and Second-Home Property Specialist (RSPS).

GRADUATE REALTOR® INSTITUTE (GRI)

Tamara L. Currey Signature Sotheby’s Realty

Patricia Guenther Signature Sotheby’s Realty

Nicole Hammons-Dovgopolyi Blakeley & Associates

Joan Koplin Coldwell Banker

Brian Ward Maher Hunt Real Estate ERA

Marci Ellen McFarland Prudential Palms Realty

Maria Mesarosova Impulse Realty LLC

Andrea L. Smith Coldwell Banker

Kristina M. Talkie Hunt Real Estate ERA

Douglas J. Weiss Corneau & Associates

Lu Anne C. Wilson Evergreen Realty Corp. e-PRO CERTIFICATION (e-PRO)

Marina Slater Sunset Realty

Chad Fay Prudential Palms Realty CERTIFIED RESIDENTIAL SPECIALIST (CRS)

Denise Conrad RE/MAX Alliance Group

RESORT AND SECOND-HOME PROPERTY SPECIALIST(RSPS)

Judy Schomaker Suncoast International Realty

Cathy Meldahl Wagner Realty

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OCTOBER 2009

Sarasota Realtor® Magazine

www.sarasotarealtors.com

w

w

By Dirk Zeller Realtor® Magazine Online

What we are experiencing right now, both in the real estate marketplace and economically is unprecedented. We certainly are not alone in this respect. I have been the featured speaker of sales conferences in Australia, New Zealand, China, Canada, Mexico, and Dubai since the market started its shift, and serious challenges exist in all of those places and beyond.

There is one glaring, universal challenge facing real estate pros, both in the United States and overseas, and it’s not what you think.

The primary problem is not sellers, buyers, foreclosures, negative equity, short sales, the media, or other practitioners. Those are all the symptoms, not the disease. The disease is an imbalance in leadgeneration strategies.

Following the Leads

Here is one interesting fact: Last year in the United States more than 4.9 million transactions took place— that, according to the National Association of Realtors®, is the 11th best year on record!

Let me share a few more numbers.

According to NAR, 43 percent of the buyers came from a referral, and 11 percent were repeat clients. While only 38 percent of the sellers came from referral, 26 percent came from repeat business.

Whenever I share those stats with real estate pros, most of them miss the real importance of the numbers.

They say, “Fifty-four percent of the buyers came from repeat or referral… that’s great!”

But my response is always, “That means 46 percent, or almost half the potential buyers are available for any agent to work with in the marketplace.

What are you proactively doing to

www.sarasotarealtors.com

tap into this group?”

In this marketplace, we have to create more leads and expand our lead sources. Yet most real estate pros are too reliant on past clients and referrals, and have little lead generation beyond that resource.

Now, before you think I’m antireferral, I want to say that referrals and repeats are the most important part of your business.

My belief is that it shouldn’t be the only segment of your business, though, as some claim. While the all-referral concept sounds appealing, it’s a poor business strategy.

In today’s environment—with reduced transactions and fewer opportunities for repeat business— can you afford to hook your wagon to referrals alone? No. A strong business does not sell its products and services to one entity or group. It has a broad line of products, services or customers.

Start a Lead Triad

In my book, The Champion Real Estate Agent (McGraw-Hill, 2006), I coined the term “lead triad”, which refers to having three sources of leads that generate a minimum of 15 percent of your commission revenue.

Sarasota Realtor® Magazine

Any lead generation source could qualify: You could have open houses, Web prospects, expireds, FSBOs, orphan clients, REOs, farming, or past client/sphere of influence categories—the list really is endless.

Let’s say you’re generating 60 percent of your revenue from past clients/sphere of influence, 22 percent from farming, and 18 percent from open houses. You would have a stable lead triad and a stable business.

By following this model, you can establish a system to create leads that is systematic, proven, and replicable.

If one of your sources is negatively affected by a major marketplace change, you can focus more on another source quickly, efficiently, and effectively to maintain and increase business. You won’t have to try out new strategies, attacking the steepest part of the learning curve through trial and error.

I urge you to review your transaction sources in the last 12 months. Look at the breakdown of your business.

Do you have a lead triad?

If you don’t, resolve to add one source—and only one source—to your business mix in the next six months.

It will take that long to monitor, test, and adjust your strategy and tactics and determine the return on investment. And make sure this new source is one that you will be willing to work over an extended period of time, rather than just during a lead crisis or market change.

Broker Corner

Build your business - capture those leads!

Diversify Your Business

To build your own business, you must look at numbers, odds, conversion ratios, lead volume, sources, and strategies to build a longterm sustainable model of success for yourself. Part of that involves creating a broader lead-generation plan to ensure that you don’t have all of your eggs in one basket. - Realtor® Magazine Online OCTOBER 2009

23

ORDINANCE

From Page 11 residents with implementation of the Address Ordinance.

Some residents and businesses will be required to change addresses and possibly street names and there will be costs incurred to make these changes. Still to be answered is the participation of cities within the County. If cities do not participate, the Ordinance will impact only the unincorporated areas of the County, and that will pose additional challenges to businesses and residents. Other issues such as fees charged to appeal address decisions and the makeup of the appeal board are currently under advisement by staff and Commissioners and will be finalized prior to the October 14th meeting.

The Address Ordinance issue is a perfect example of why it is so important for SAR to be involved in local public policy issues. In this particular case SAR was given ample time and opportunity to act in a proactive manner rather than a reactive manner. In other words we were ahead of the game so to speak rather than trying to catch up to the issue. As such, SAR provided reasonable and valuable recommendations from a Realtor® perspective to county staff members as well as the County Commissioners. The result was a win-win for everyone.

The Public Policy Committee is highly involved in local,

SHORT SALE FLIPS From Page 11

lender accepts and what is being represented to the lender as a fair market price, do not provide the BPO to the lender and take the listing for the investor. Your obligation is to treat all parties honestly and fairly, this includes under the Code, lenders. c) Full disclosure is the key to avoiding any issues with the seller, the investor, the end buyer, the lenders and title underwriters involved. d) Many mortgages contain a due on sale clause – so make sure you as the listing agent encourage your seller to retain an attorney who should be independent and not affiliated with any foreclosure rescue company or investor. e) If you are the original listing agent for the seller, and you are asked by the investor (buyer #1) to find an end buyer (buyer #2), you are likely placing yourself in a conflict situation.

8. Referrals. If the property owner/seller also holds a Florida real estate license, then you should not give back or share any part of the commission to that owner/principal nor should you agree to pay the owner a referral fee, unless it is disclosed on the HUD. 9. Commissions: You may be compensated by more than one person in a transaction, but only if you disclose it in writing. If the investor gives you any compensation, you

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OCTOBER 2009

state and national governmental issues that impact real estate. The committee and SAR generally support legislative initiatives of FAR and NAR. If you enjoy interacting with political officials, reviewing local legislative initiatives and providing a Realtor® perspective on issues of importance, please consider becoming a member of the Public Policy Committee. For details on how to become a member please contact Governmental Affairs Director Marc Mansfield at 328-1159.

2009 Public Policy Committee: Chair Laura Benson, Prudential Palms Realty, Vice Chair Lee Delieto Jr., Michael Saunders & Company, Bob Milhoan, Hembree and Associates, Brad Lindberg, Hembree and Associates, Christina Pitchford, Allen Real Estate Services, Dan McLeroy, Jr., Harry Robbins Associates, David Altwies, Exit Realty Gulf Coast, Judy Schomaker, Suncoast International Realty, Larry Schaper, Michael Saunders & Company, Lee Byron, Michael Saunders & Company, Michael Blaikie, Reef Properties & Development, Mike Bruno, Prudential Palms Realty, Mike Furtick, Mike Furtick Inc., Paula Cashi, Prudential Palms Realty, Tami Cashi, Prudential Palms Realty and Sally Rackey, RealtyOne Alliance.

Address Ordinance Work Group: Bob Milhoan, Brad Lindberg, Michael Blaikie, Christina Pitchford. have to reflect it on the HUD Statement or disbursement statement. Remember – if it is not in writing – it does not exist!

10. Arms Length Transaction Confirmation: Not all flips are problematic or suspect. However, in today’s real estate world, flips are being used by some as a means to profit at the cost of the owner, who does not fully understand all the trappings in this type of transaction (i.e. due on sale issues, tax liability, fallout of the investor “sale” and claims by the lender of fraud if everything that needs to be disclosed is not). Many lenders now require the seller, the buyer and the Realtors® to execute either an affidavit or similar document confirming the representations made to the lender and that there is no flip, or that the price agreed is the true price and that there are no side deals This request may come from either the forgiving lender or the loaning lender or both.

To avoid a problem down the road – get consent from the seller, the investor and the end buyer which allows you to fully disclose the true nature of the transaction. If you disclose without consent, and the information was deemed confidential by a party, you have violated the Code of Ethics.

While you have no legal obligation to sign these “affidavits” or “confirmations”, some lenders will not close without them also being executed by you the Realtor®. If that is the case, if you sign this type of document, then make sure you are certain it is an arm’s length transaction and everything has been disclosed. If you sign an affidavit and it turns out you misrepresented the transaction to the lender, most errors & omissions policies will not cover you for fraud.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

SAR plans 2010 Sponsor Partnership Program Partnering with the Sarasota Association of Realtors® has never been easier – or more cost-effective! Affiliates will not lose any of their current services if they do not sign up for the new program, but will gain tremendously if they do.

The Sponsorship Task Force Committee of SAR has spent several months tailoring a new Sponsor Partnership Program designed to fit any business budget, while enhancing the benefits to our valued sponsors by leaps and bounds.

Now, our affiliate members can begin the year with the new SAR partnership package already chosen and put into motion, and eliminate the month to month decisions and headaches. They simply choose from one of our partnership levels – Diamond, Platinum, Gold, Silver or Bronze – and the work is done!

The Bronze basic package costs $500 for the year and includes: Affiliate membership dues; one ticket to the annual Installation Banquet; use of the SAR auditorium for a half-day; one ticket to the three SAR Quarterly Membership Meetings; one ticket to Realtor® Day Bowling; and placement of the business flyer in six New Member Orientation meetings. That’s a $1,140 value, for only $500!

But wait, there’s more!

As the partnership levels increase, the benefits grow exponentially! The higher the level of participation, the greater the savings! At the top Diamond level, the affiliate business gets $13,650 in value, all for only $5,000 for the year. The advertising exposure alone is worth far more than the cost of the package, with a $2,400 annual banner ad on the SAR web site, a $2,000 display banner with business logo and firm name at SAR (visible at SAR meetings and events), a full-page ad in an issue of Sarasota Realtor® Magazine ($810 value), and logo on all SAR Weekly Update emails (52 for the year – a $2,000 value!).

There are various other benefits for the top level, and the various other levels of participation. The choices are all spelled out on our web site. Please take a look and learn how we’ve worked hard to save you money, and supply you with the benefits you want from Affiliate membership in the Sarasota Association of Realtors®!

Visit our web site - www.sarasotarealtors.com - for all the details!

SAR recognized six members with Realtor® Emeritis status at the Sept. 16 annual meeting. One member, Joe Cleary, was recognized posthumously. From left to right are: Robert Cowles, Daniel DeVito, Fred Donald Herman, Craig Lewis and David Trotochau.

Sarasota Young Realtors® set programs

The following is the current 2009 schedule of events for the Sarasota Young Realtors®, subject to change.

Meetings begin at 4 P.M. at SAR on the following dates: Oct. 13, Nov. 10 and Dec. 8.

Socials begin at 5:30 P.M. (4th Quarter tentatively at Mattison’s City Grille, 1 North Lemon Ave Sarasota - on the following dates: Oct. 21, Nov. 18 and Dec. 16.

Luncheons begin at Noon at SAR on the following dates: Oct. 30 and Nov. (TBD)

www.sarasotarealtors.com

John Kiernan Phone

CERTIFIED GRADUATE REMODELER AGING-IN-PLACE SPECIALIST SELECTED TOP 50 IN AMERICA State Lic. # CBC040759

Sarasota Realtor® Magazine

4007 39th Street East, Bradenton, FL 34208

941 748-1219 Cell

941 726-2318 Fax

941 745-2558

www.kiernanremodeling.com

OCTOBER 2009

25

Legal Q&A 26

Closing professional provides guidance on short sale process

Q

By Michelle Lajoie Hermey, Esq. SAR Affiliate Member Q: The seller has a first mortgage and a second mortgage with the same lender. The first lender has provided a payoff/estoppel statement which indicates that the second lender will be paid $5,000 at closing to satisfy the second mortgage. Why does the closing agent need to obtain a separate payoff statement from the second mortgage holder?

A: The first mortgage and the second mortgage are likely serviced by two separate departments and/or companies. Although the first and second loans are with the same bank, this does not mean that the lenders communicate with each other. More than likely the second mortgage payments are made to a different department located in a different state than the first mortgage.

Further, the first lender payoff/estoppel merely allocates an amount to pay the second lender. This figure is usually based on the outstanding balance of the second mortgage payoff. This does not mean that the second mortgage holder will accept the amount therefore a separate approval letter from the second mortgage holder is required.

Q: Subsequent to the execution of the contract and approval by the short sale lender, the buyer and seller have agreed that the seller will credit the buyer for repairs to the home. Why do we need to obtain approval from the short sale lender if the lender’s payoff amount has not reduced?

A: Disclosure, Disclosure, Disclosure. The short sale lender approves the initial contract between the buyer and seller. Any variations from the initial contract submitted to the short sale lender needs to be approved by them. Keep in mind that most short sale lenders require the contract between the buyer and seller be in the form of an As Is Contract.

Q: What is a short sale flip?

A: In its simplest form a short sale flip involves three parties: Seller A who is the current owner of the property, Buyer B who is the initial purchaser of the property from Seller A, and Buyer C. Buyer C contracts with Buyer B to purchase the same property at a higher price than the Seller A/Buyer B transaction.

Closing agents have received strict instructions from

OCTOBER 2009

their underwriters to scrutinize these transactions. Many title underwriters require both transactions to stand alone (i.e. two separate closings). The sale from Seller A to Buyer B must be fully funded and disbursed. The sale from Buyer B to Buyer C must also stand on its own which means that the money from Buyer C’s lender cannot be used to fund any portion of the Seller A to Buyer B transaction. In addition, most title underwriters are requiring full disclosure of both transactions to all parties involved in the short sale flip, which includes but is not limited to, the short sale lender, Seller A, Buyer B, Buyer C and Buyer C’s lender.

Most short sale lenders have become aware of these short sale flips and are now placing restrictions on the resale of the property. The restrictions may include a prohibition from selling the property to Buyer C for at least thirty days after the initial closing between Seller A and Buyer B. This additional restriction would prevent the closing agent from closing both transactions simultaneously. Please note that most flips are not eligible for FHA financing.

There is much controversy over these flips and this article is not intended to cover all aspects of these flips. The Realtor® -Attorney Joint Committee for SAR expects to conduct a seminar on this topic in the fall. The seminar will include examples of prohibited short sale flips and the ethical dilemmas for Realtors®. - Michelle Lajoie Hermey, Esq. is with Fergeson, Skipper, Shaw, Keyser, Baron & Tirabassi, P.A., and is a member of the Realtor® -Attorney Joint Committee

Sarasota Realtor® Magazine

www.sarasotarealtors.com

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CID sets programs and events for 2009

Thursday, Oct. 8 CID Golf & Reception at TPC Prestancia Tuesday, Oct. 20 Program: “The Landscape of Distressed Commercial Properties” www.sarasotarealtors.com

Tuesday, Nov. 17 Program: Robbins Real Estate Wednesday, Dec. 16 CID Annual Holiday Breakfast (tentatively at Hyatt Regency Sarasota) Sponsor: Wachovia

Sarasota Realtor® Magazine

OCTOBER 2009

27

Get involved with WCR and benefits abound

By Janice Litke 2009 WCR President Many months have passed since we started our 2009 together. A year of exciting and somewhat stressful times, I continue to find the support and spirit at all levels from my involvement in WCR and hope you do as well.

As you hear me say so many times, the more involved you are, the more you will receive in return.

The Sarasota Chapter celebrated its 50th anniversary back in 2007! It is important that we continue to grow and change to meet the needs of our members so we can serve professionals in our real estate and related fields for another 50 years to come.

Many of the leaders of our local chapter have gone on to hold leadership positions in our Realtor® board as well as WCR State and the Florida Association of Realtors®.

The Council operates on a shared value system of integrity, respect, consistency and a commitment to excellence and continuous development. At a local level, which is where the majority of our members participate, you will see that we have some of the most committed, educated and caring professionals in our marketplace. I am proud to refer my business to you, our members and as your President try to provide education and training events that support your work as well. I truly appreciate the respect & sharing that we see between members.

There are many associations in which we can and do all participate based on our specific field but for me Women’s Council of Realtors® is Where it All Comes Together.

Are You READY? To plug into the power of your profession Are You READY? To tap into training, news, and information that will keep you on top of a profession that’s changing every day?

Are You READY? To join the top individuals in the profession for networking opportunities you can use to take your business higher than ever before?

Then you’re ready to become a member of the Women’s Council of Realtors®.

Now more than ever, membership in the Women’s Council of Realtors® is the way to stay out in front of a fast changing market, increasingly savvy customers and tough competition.

A nationwide community of many of the industry’s most successful and motivated real estate professionals, the Women’s Council of Realtors® delivers an unmatched combination of professional 28

OCTOBER 2009

training and personal support you need to keep your business at its very peak.

From our Performance Management Network training to our wealth building summits and networking conferences to our vast referral network, we bring the real world tools and information that will help you anticipate change, outpace the competition and grow your business in ways you never thought possible.

FAR/WCR Convention & Trade Expo at Rosen Shingle Creek Resort, Orlando FL was held in August.

Among the many seminars, forums, and educational classes WCR had the Florida State Awards Banquet on Aug. 20th. This year we unmasked the winners at our Masquerade Ball:

Congratulations!

2009 Women’s Council Award Winners Distinguished Chapter Award Naples on the Gulf Business Woman of the Year Geri Kenyon, Manatee Chapter Member of the Year Lynn Mooney Rising Star Penny Erickson Chapter of the Year Pensacola DVP of the Year Jean Floyd Governor of the Year Tracy Goldenberg Extra Effort of the Year Tim Kinzler, Palm Beach Chapter Founders of the Year Susana Madden, Orlando Chapter Mentor of the Year Sherrie Meadows Honor Circle of the Year Sam Kinkaid Humanitarian of the Year Rory Dubin, Venice Chapter

Sarasota Realtor® Magazine

www.sarasotarealtors.com

THANK YOU TO OUR 2009 PROGRAM SPONSORS: SILVER: Lakewood Ranch Communities, LLC and Neal Communities BRONZE: Alliance Appraisal Associates, Inc., Kelietza, Oswald Trippe-Joe Sikora, Regions Mortgage, Sarasota Costal Credit Union, and Silver Fox Pest Management.

AND OUR STATE SPONSORS: PLATINUM: HomeTeam Inspection Service, Magnolia Insurance, North American Title Company, Wells Fargo Home Mortgage GOLD: Bank of America, Stewart Title Guaranty, X-Caliber Title SILVER: Anderson Auctions, Attorneys’ Title Insurance Fund, Inc., Bright House Networks, Harper & Pinzino Island Realty, Hughes Exterminators, Paul Home, RE/ MAX Alliance Group

The WCR Annual Fashion Show on Sept. 23 was a major success, attracting over 200 people. At top left, Dave Swenson struts the runway, and at top, Michelle Crabtree models a spring fashion. See SAR’s facebook page for much more!

Programs and Events Calendar 2009 Oct. 9 - District Forum – Teatro’s Ybor City Nov. 10 - Emily Sperling, Community Relations Manager, EDC - Mattison’s 41 Nov. 11-16 - WCR/NAR Annual Conference – San Diego Dec. 11 - Installation & Farewell - Bird Key Yacht Club

www.sarasotarealtors.com

Sarasota Realtor® Magazine

OCTOBER 2009

29

Membership News 30

The Association is pleased to welcome new members!

Designated Realtors®

Alley, Edwin: Edwin Alley Lic R E Broker Cohen, Laura: FARETS Falconer, Gordon: Shore to Shore Realty Gaffney, Tina: Coldwell Banker Res R E Israelson, Sandra: Uplink Realty Kearney, Kitt: KERK Real Estate Group Roman, Jules: Tarpon Coast Realty Inc. Schertle, David: Atera Real Estate Services LLC Sparr, Jay: Sparr Realty LLC

New Members

Allen, James: Coldwell Banker Res R E Antonetti, J Gerry: Coldwell Banker Res R E Arcand, Arthur: Prudential Palms Realty Baker, Keith: Coldwell Banker Res R E Barnard, Deborah: Safety Harbor Rlty of Sarasota Bartlett, Jeffrey: Keller Williams Lakewood Ranch Beeler, Charles: Prudential Palms Realty Bekkering, Tim: RE/MAX Tropical Sands Bell, Scott: Coldwell Banker Res R E Brock, Charles: Coldwell Banker Res R E Brock, Kimberly: Coldwell Banker Res R E Brown, Catherine: Century 21 Advantage Brunson, Laura: Blakeley & Associates Realty Christensen, John: Hunt Real Estate ERA Cinque, Joseph: Coldwell Banker Res R E Clark, Louise: Signature Sothebys Internat’l Connaughton, J Maurice: Signature Sothebys Internat’l Cremer, Rick: RE/MAX Alliance Group Darakjian, H Richard: Century 21 Advantage Fister, John: Horizon Realty Florand, Todd: Peens Property Group Inc. Furman, Len: Prudential Palms Realty Glah, Patricia: Horizon Realty Halloran, Gary: RoseBay Real Estate Inc. Hansen, Stephen: James Buchanan Realty Ivin, David: Prudential Palms Realty Johns, Larry: Prudential Palms Realty Johnson, Ronald: Wagner Realty Keddy, Karen: Homes & Dreams Realty Inc. Kraguljac, Stevan: Coldwell Banker Res R E LaMaida, Vincent: Signature Sothebys Internat’l Langhout, David: Vanguard Realtors LLC Lanier, Margaret: Sandals Realty Lind, Richard: Hunt Real Estate ERA Lynn Perez, Charlotte: Hunt Real Estate ERA Menias, Hany: Coldwell Banker Res R E Mlynski, Mark: Team Blair Realty Inc. Moser, Michael Joe: Coldwell Banker Res R E Naylon, Douglas: Hunt Real Estate ERA Paquette, Bruce: Coldwell Banker Res R E Peshkin, Daniel: Vanguard Realtors LLC Peshkin, Samantha: Vanguard Realtors LLC Slattery, James: Cityscapes Int’l Realty Group Smith, Kathleen: Coldwell Banker Res R E Smith, Tara: Florida Sun Realty Corp Tarr, W Edward: Michael Saunders & Company Ward, Jennifer: Indigo Group Real Estate LLC Werner, Allison: Coldwell Banker Res R E Werntz, Thomas: Hunt Real Estate ERA OCTOBER 2009

White, Barry: RE/MAX Premier Services White, David: Coldwell Banker Res R E Wilson, Jennifer: LFL Marina Realty LLC Witte, Lynnda: Zupa & Associates

Now With

Abbott, Margaret: Sandals Realty Beach, Lisa: Waterside Realty LLC Blumenthal, Marisa, Hunt Real Estate ERA Bohack, Bill: Hunt Real Estate ERA Bowen, Beverly: RE/MAX Alliance Group Burton-Cunneen, Stacy: Realty Partners LLC Cinque, Joseph: Coldwell Banker Res R E Claydon, James: Michael Saunders & Company Cleland, Douglas: Prudential Palms Realty Coleman, Deborah: Mark P Riley Luxury Int’l Inc. Collins, Wendy: RealtyOne Alliance D’Angelo, David: Florida Gulf Coast Realty LLC DeLieto Jr PA, Leon: Michael Saunders & Company Finnegan, Colleen: Hunt Real Estate ERA Furman, Len: Prudential Palms Realty Garland, Brenda: TownCenter Realty Geldi, Mary: Ilene Mirman Realty Inc. Geldi Jr, John: Ilene Mirman Realty Inc. Germain, Patrick: Realty Executives Solutions Girard, Dennis: RealtyOne Florida Glasson, Rex: Keller Williams Lakewood Ranch Gold, Carol: Coldwell Banker Res R E Halloran, Gary: Rosebay Properties, Inc. Harney, Tara: Prudential Palms Realty Hayman, David: Sandals Realty Jonsson, Paula: Coldwell Banker Res R E Klein, Sharon: Coldwell Banker Res R E Leopold, Arthur: Prudential Palms Realty McDonald, Andrew: Prudential Palms Realty Mercier, John: Ilene Mirman Realty Inc. Minton III, Dave: Hunt Real Estate ERA Moon, Chris: Allen Real Estate Services Inc. Morgan, Jennifer: Charity & Weiss Int’l Realty Morgan, Aki: Prudential Palms Realty Moyer, Glenn: Sandals Realty ONeil, Eugene: Moynihan Realty Group Inc. Parisi, Daryl: Cityscapes Int’l Realty LBK Payne, Rita: McKenna & Associates Inc. Perry, Psyche: Prudential Palms Realty Phillips, Rosalie: Crown Properties Group Inc. Saoud, Mike: Wagner Realty Satterlee, Tami: Cristello and Co. Real Estate Sepe, Diana: Prudential Palms Realty Shibles, Kathryn: Sandals Realty Snyder, Brian: Signature Sothebys Internat’l Starr, Anna Marie: Signature Sothebys Internat’l

Sarasota Realtor® Magazine

See MEMBERSHIP, Page 31

www.sarasotarealtors.com

The 3rd Annual Sarasota International Real Estate Congress, held Sept. 24-25 at Hyatt Regency Sarasota, was a big success. At left, 2009 SAR President Bill Geller welcomes Dr. Lawrence Yun, NAR Chief Economist and keynote speaker, to the event. At bottom are, left to right, speaker John Tuccillo and Dr. Yun, Congress moderators Patricia Tan and Carla Rayman of Prudential Palms Realty, and Harold Bubil, real estate editor with the Sarasota Herald-Tribun, who moderated a panel focused ion “The State of Real Estate in Florida.” See SAR’s Facebook page for more pix!

MEMBERSHIP From Page 30

Tsiperovich, Alli: Dawn Cohen and Associates Ward, Angela: Wagner Realty Wissing, Ana Maria: Prudential Palms Realty Yturraspe, Jo Ellyn: Prudential Palms Realty

New Affiliates

Palms-Robarts Funeral Home 170 Honore Ave. Sarasota, FL 34232

www.sarasotarealtors.com

International Real Estate

International Congress

Phone Number: 941-371-4962 Representative: Ellen Esses Specialty: Palms-Robarts Funeral Home & Palms Memorial Park has served the Sarasota community for over 40 years. Situated on over 50 acres, our meticulously maintained grounds offer level lots and stately trees that provide a quiet and picturesque setting in which to honor the memory of your loved one and the convenience of a funeral home on the cemetery grounds.

Today, we are a proud member of the Dignity Memorial® National Network of funeral, cremation and cemetery service providers. We are committed to exceeding expectations and delivering a standard of service that is 100 percent guaranteed.

Sarasota Realtor® Magazine

OCTOBER 2009

31

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

OCTOBER 2009 S ARASOTA A SSOCIATION OF R EALTORS ® E DUCATION /E VENTS C ALENDAR Tuesday

Wednesday

Thursday

Friday

Sept. 28

29

30

Oct. 1

Oct. 2

5

6

7

9 a.m.

9 a.m.

Bankruptcy Seminar

7 Keys to Success Goal Setting 9 a.m.

MLXchange Basic 1:30 p.m.

Entering & Updating Listings

8 a.m.

Power Marketing (University Park CC)

9 a.m.

CID Commercial Marketplace

8:30 a.m.

Broker Forum 9 a.m.

MLXchange-iMAPP 1:30 p.m.

MLXchange-Design

8

8 a.m.

Power Marketing (SAR) 11:30 a.m.

CID Golf Outing TPC-Prestancia

9

Web Page

9 a.m.

CID Commercial Marketplace

12

13

14

15 8 a.m.

Power Marketing (SAR)

16

19

20

21

9 a.m.

7 Keys to Success Property Inspection

22 8 a.m.

Power Marketing (SAR)

23

28

29

9 a.m.– 4 p.m.

New Member Orientation & Code of Ethics

9 a.m.

MLXchange-Creating a CMA 1:30 p.m,.

MLXchange-Advanced

26

8 a.m.

CID Membership

9 a.m.

MLXchange Basic 1:30 p.m.

Entering & Updating Listings

27

8:30 a.m.

Resort & 2nd Home Property Specialist (RSPS)

7:30 a.m.

Toastmasters

8:30 a.m.

Resort & 2nd Home Property Specialist (RSPS)

8 a.m.

Power Marketing (SAR)

9 a.m.

CID Commercial Marketplace (Manatee Association of Realtors®)

9 a.m.

CID Commercial Marketplace 9 a.m.

Flu shots-Regular

30

9 a.m.

CID Commercial Marketplace

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

Mid-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 Mid-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 “Training,” then “Quick Class Registration” and follow prompts.

Sarasota Association of Realtors®, Inc. 3590 S. Tuttle Ave. Sarasota, FL 34239

Monday