Kentucky ®
SPRING 2021
A PUBLICATION OF KENTUCKY REALTORS®
Written Consent to Advertise kyrealtors.com
KY REALTORS BOARD OF DIRECTORS Charles Hinckley – President Mike Inman – President-Elect Elizabeth Monarch - Treasurer Pam Featherstone - Treasurer-Elect Lester T. Sanders – Immed. Past-Pres. Barbara Flannery – Senior V.P. Mike Spicer – Senior V.P. Barbara Curtis – Senior V.P.
Earleene Woods – Reg. 1 Director Cindy Payne – Reg. 2 Director Annelizabeth Delahanty – Reg. 3 Director Donna Gregorich – Reg. 4 Director Sue Ann Collins – Reg. 5 Director Brenda Gooslin – Reg. 6 Director Al Blevins – Director-At-Large Angela Clark - Director-At-Large
REALTOR® POLITICAL ACTION COMMITTEE (RPAC)
Cathy Corbett - Director-At-Large Greg Crase - Director-At-Large Helen Fardo - Director-At-Large Donna Gordon-Willoughby – Director-At-Large Karen Gross - Director-At-Large Dave Parks, Jr. - Director-At-Large Kimberly Sickles - Director-At-Large
KENTUCKY REALTOR® INSTITUTE (KRI)
Bonnie Byerly - Chair
Brenda Gooslin – President
NATIONAL ASSOCIATION OF REALTORS® DIRECTORS Charles Hinckley – State President Carl Tackett – Regional Vice President
Lamont Breland – State Director Norman Jones – State Director Judie Parks – Large Board Rep.
Paula Barmore – Large Board Rep. Greg Buchanan – Large Board Rep.
DELEGATE BODY AT-LARGE DELEGATES Bonnie Byerly Janette DeWitt Alicia Soldat Larry Disney Laura Disney Trey McCallie Joy Murphy Jason Scolf Ron Brossart
REGION 1 Amber Wood Dustin Gilbert Crystal Jeter Alice Carr Justin Suiter Gale Sharp Earleene Woods Jason Bellamy Angela Clark Tony Clark Karen Gross John Davis
Sara Gipson Ron Hughes Eunice Stone
REGION 2 Angi Cline Steve Cline Kenny Cravens Kelley McGough Cindy Payne Linzie Craig Mary Ann Hollon Rick Baumgardner Kevin Clark Pam Featherstone Charles Hinckley Mike Thomas Molly Mattingly Sharon Billingsley
REGION 3 Steven Bagby Larry Baker Paula Barmore Lamont Breland
Linda Gibson Cecil Catherine Corbett Crystal Corrigan AnnElizabeth Delahanty Kristen English Will Fischer Chris Fox Donna Gordon-Willoughby Susan Hatton Cheryl Johnson Carter Martin, Jr. John May Elizabeth Monarch Mike Mudd Doug Myers Rosemary Nobles Dave Parks, Jr. Judie Parks Rip Phillips Lisa Presley Lester T. Sanders Claire Schenk Kimberly Sickles Kathryn Sotelo Karen Story Glenn Thomas
Kathryn Vaughn John Weikel
REGION 4 Tommy Black Al Blevins Ty Brown Greg Buchanan Matt Coomer Jayne Cox Barbara Curtis Helen Fardo Sha Fister Barbara Flannery Doug Gibson Kristy Gooch Donna Gregorich Alicia Huff Todd Hyatt Mike Inman Ann McDonald Linda Moore Becky Murphy Charlie Murphy Randy Newsome Kelley Nisbet
Kae Schennberg Jim Sewell Mary Ann Simmons John Smither Carl Tackett Rusty Underwood Jeanna Wright
REGION 5 Mike Becker Shannon Collins Sue Ann Collins Greg Crase Stephanie Frost Tanya Kaup Jeff Smith Mike Spicer Jennifer Swendiman Ken Warden Kim Whalen
REGION 6 Angela Coovert Marcie Estepp Brenda Gooslin Norman Jones
CONTENTS Volume 14, Number 1, SPRING 2021
A publication of Kentucky REALTORS® President | Charles Hinckley Heart of Kentucky Association of REALTORS® Network Realty, Elizabethtown President-Elect | Mike Inman Lexington-Bluegrass Association of REALTORS® Coldwell Bankwer McMahan, Lexington Treasurer | Elizabeth Monarch Greater Louisville Association of REALTORS® ExP Realty, LLC., Prospect Treasurer-Elect | Pam Featherstone Heart of Kentucky Association of REALTORS® Semonin REALTORS®, Elizabethtown CEO | Steve Stevens, RCE, CCE, IOM Sstevens@kyrealtors.com Kentucky REALTORS® members should always send address changes to their local board/association first. Subscription rates: $10 per year (included in dues) for members, $25 per year for non-members. All articles represent the opinions of the authors and do not necessarily represent the opinions of Kentucky REALTORS® and should not be construed as a recommendation for any course of action regarding financial, legal or accounting matters by Kentucky REALTORS® and its authors. Reproduction prohibited without permission. Copyright©2021. Kentucky REALTORS®, Inc. All rights reserved.
Address letters and inquiries to: Kentucky REALTORS® 2708 Old Rosebud Road, Suite 200 Lexington, KY 40509 TF 800.264.2185 T 859.263.7377 F 859.263.7565 www.kyrealtors.com email: kyrealtors@kyrealtors.com
IN THIS
ISSUE
6 CODE Grants (2020) 13 The Backyard Takes Center Stage in Everyday Life
20 Written Consent to Advertise 30 Explore the New RPR REGULAR FEATURES
5 President’s Message 14 RPAC Update 18 Education 26 CEO Message 28 Housing Stats
Follow KYR on Social Media KYR has posted its social media links on the home page of its website so members and consumers can follow all the things going on with the Association. Keep up with KYR on a real time basis – legislative updates, industry news, business tips and much more – visit www.kyrealtors.com. Kentucky REALTORS® | 3
REALTOR® NEWS KYR Healthcare Marketplace KYR has worked, for several years, on a healthcare solution that would be a great fit for our members. As you know, REALTORS® represent a large segment of independent contractors that struggle with obtaining affordable healthcare coverage – for both themselves and their families. KYR made a commitment to finding solutions. KYR’s ongoing effort to provide its members with a wide range of affordable and attractive health and wellness products continues today! We have reopened our existing plans and added some new ones to our new Healthcare Marketplace. See our ad on pages 24 & 25 of this issue for more information.
Give back through leadership at the state level
Are you interested in serving the real estate industry at the state level? Kentucky REALTORS® is seeking nominations for several leadership positions for 2022. The information regarding the openings, terms, and voting information can be found on the website at www.kyrealtors.com/members/elections. The deadline for nominations is September 10th, 2021 and elections will take place at the 2021 annual convention & expo. If you need additional information or would like to discuss, please contact Julie Johnson at jjohnson@kyrealtors.com or 859-263-7377.
Revisions to the Residential Sales Contract include the following: • The form is now available for use by National Association of REALTORS® Members who hold a Kentucky real estate license whereas the prior release authorized use only by Kentucky REALTORS® members. This change permits any REALTOR® licensed in Kentucky who wants to use the contract to do so. • Language in Paragraph 3. Payment of Purchase Price was revised to more clearly identify costs paid by the seller and buyer. • Paragraph 19. Smoke Detector Ordinance Notice has been omitted from the contract since this language only applied to Jefferson County transactions. • Paragraph 26. Mediation/Binding Arbitration was deleted. Potential mediators and arbitrators have not committed to participate in this process until the contract is more widely used, and/or until the pandemic environment changes.
Leadership Class of 2021 This year’s class includes 11 members who will join the ranks of some of the most successful REALTORS® from around the state. The program leads participants through several retreats and provides skill development in leadership along with team-building exercises, goal setting, personal profile analysis, network building and improving communication skills. Here is a look at the Class of 2021:
Open positions: President-Elect (1 position for a 1-year term) Treasurer-Elect (1 position for a 1-year term) Senior Vice President (1 position for 3-year term-Administrative) At-Large Director (3 positions for a 3-year term) Region Director (3 positions for a 2-year term) At-Large Delegates (3 positions for a 3-year term) NAR Director (1 position for a 3-year term)
Updated Statewide Residential Sales Contract is Now Available
Janie Wilson, NKAR C.E.O. and Chair of the Statewide Forms Committee, announces a new release of the Kentucky REALTORS® Residential Sales Contract (Revised 04/21). In January, the Committee recommended revisions that were approved by the KYR Board of Directors. All changes have been finalized and a copy of the new release is available at kyrealtors.com/form/ association-documents-agreement.
Affinity Partners As a benefit of membership with Kentucky REALTORS®, members are eligible to receive discounts and added value on business-related products and services from a number of leading industry partners. To learn more about each of companies listed, visit kyrealtors.com/discounts.
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Christina Beasley
Kevin Clark
Shannon Collins
Will Fischer
Stephanie Frost
Sara Gipson
Anna-Marie Hyatt
Sophia Ingram
Carter Martin, Jr.
Deborah Morgan
Traci Willis
Cori Zaring
PRESIDENT'S MESSAGE
We R Making a Difference!
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We have been busy as an association e have spent a year this year, as we continue to work to add on conference calls benefits to our Healthcare Marketplace from our computers to include dental and other coverages. and phones, but it is exciting to We are always striving to find ways to save our members money and expand begin to get back to in-person the options for helping them do business meetings again! To be able better and more efficiently. to see our Realtor® Family in person! To make memories and We continue to emphasize Realtor® Safety and the importance of being make a difference! Our Summer always aware of the surroundings. It is Meeting and our Leadership CHARLES HINCKLEY imperative that KYR works to help our PRESIDENT – KENTUCKY REALTORS KYR (LKYR) classes are back industry and our members stay safe. on and full swing! The Summer We also want to emphasize the importance of Meeting will be in person! We will be able being educated on our industry and constantly to reconnect with our Realtor® Family! (Can raise the standard. Tools like C2EX (Commitment to you tell I’m excited?!) Excellence – c2ex.realtor) allow you to sharpen your I want to speak with you about “Making a Difference”. You do not have to do something great to be remembered, you just need to do something memorable. Mother Teresa said, “you don’t have to feed a hundred, just feed one.” One of the things I think is so important for each of us to remember is that each transaction is a moment in time to make a difference in another person’s life. We are tasked with walking individuals through one of the most important transactions they will take part in during their lifetime. We have been faced with many challenges in our industry (especially in the past 12 months), but we have learned to adapt, adjust, and overcome. This will serve you well in EVERY facet or your life. After all, you cannot spell change without spelling most of the word CHAlleNGE.
professionalism and set yourself apart from the rest of the crowd. Be proud of your excellence! We have also begun conversations to put together an event for our commercial REALTORS® to partner with others from the International Community to begin to build bridges. As our world gets smaller, it is in our best interest to find ways to connect and bring people together to make a difference. So, spring has sprung and the work has begun! It is not up to one individual to do all the work. No one person can do everything, but everyone can do something. Find the one thing you can do and make a difference. Anne Frank said, “Isn’t it wonderful that no one has to wait a moment to improve the world.” You and me, “We R making a difference!”
We R Making a Difference Kentucky REALTORS® | 5
CODE GRANT I
n 2019, NAR President Vince Malta gave us the charge to drive community development, promote housing affordability and economic development. NAR’s strategic priority for 2020 is being carried forward into 2021 at KYR.
The Kentucky REALTORS® Community, Economic Development & Housing Affordability Grant Program (CODE) is a way for REALTOR® Associations to play a leadership role in making their communities a better place to live and work. It is a way to give back to our membership, directly affecting the communities and regions where they work, live, and play. During 2020, Kentucky REALTORS® (KYR) made $60,000 in grant funding available to qualified programs and projects - $10,000 for a project(s) within each of the association’s six regions. These were initiatives that drive economic growth, make quality of life improvements and support homeownership are the focus of this program. We are, once again, making $60,000 available to our regions in 2021. As one of Kentucky’s largest and most influential trade associations, we can provide significant leadership in our communities to drive economic growth, promote community development and help more Kentuckians realize the American Dream of Homeownership.
REGION 1 Hopkinsville-Christian County Board of REALTORS® Our Association members are working with the City of Hopkinsville and our Parks & Recreation Department to provide a wheelchair swing for the precious children and adults in our area who are not able to enjoy the excitement of swinging at the park. This is a project we have been discussing for about a year now. Providing a wheelchair swing would be a great addition to their community. The wheelchair swing will be costly but so worth it to see the smiles it will bring. Grant Amount Awarded: $2,000
Madisonville-Hopkins County Board of REALTORS® The Christian Food Bank of Hopkins County relies totally on donations from the community. Their entire staff is made up of volunteers. The Food Bank helps out so much every year. However, 2020 hit them very hard due to COVID-19. The grant funds would go towards purchasing food that would be given out to the community. Grant Amount Awarded: $430.32 Mayfield-Graves County Board of REALTORS® The Senior Citizens building is the main hub for the elderly members of our small community. Many gather here daily for lunch and then stay for activities such as crafts, bingo, playing 6 | kyrealtors.com
cards and much more. The staff here also provides the meals on wheels program to home-bound seniors and coordinates transportation to local services, groceries, shopping, & doctor's appointments. The renovation of their main area has really improved the look and feel of their building. This grant would be used to help renovate their office side of the building for all of those working behind the scenes. Giving the staff at the Senior Center a more updated office space more suited to them would benefit the Senior population in our community. Grant Amount Awarded: $2,000
Murray-Calloway County Board of REALTORS® Main Street Youth Program has been serving at-risk youth, ages 7-15 years old since its incorporation in 1987. The program has an average yearly enrollment of 68-75 students from both local school systems with at daily attendance of 2035 students in the after-school program. Everything including after school snacks, tutoring and activities are provided free of charge to the families. Our request is to provide funding for the purchase of chairs, computer tables and round tables for tutoring in the new building. We feel that providing safe, structured programs for these children is important to the future of our community, not only economically but also important through the idea of community service that is instilled in the youth involved in this program. Grant Amount Awarded: $5,177.48
From left, DECO Architects’ Derek Phillips, SPEDA President and CEO Chris Girdler, Kevin Pinson, Somerset-Lake Cumberland Board of REALTORS® President Donna Foster, KYR 2020 President Lester T. Sanders, SLCBOR CEO Mindy Sweet, and SLCBOR 2021 President Barry Turner.
Pennyrile Board of REALTORS® The Pennyrile Board of Realtors are submitting the CODE Grant for a memorial bench on the Ridgeline Trail located at the Lake Barkley State Resort Park. The Friends of Lake Barkley State Resort Park is a non-profit group that has adopted a walking/wheelchair trail called the Ridgeline Trail. This trail has been established for veterans. The trail is located at our local state park and is a great place for veterans to spend their days walking the trail. The trail is handicap and wheelchair accessible. The Pennyrile Board of Realtors have previously donated a bench to the trail in the past. Most recently the board has donated a second bench in memory of Gina Allen, a realtor of Coldwell Banker Service 1st Realty, and our Pennyrile Board Secretary, Treasurer, & AE. She was very active in our board and played such an important role of keeping items of business in order for the board. Grant Amount Awarded: $392.20
REGION 2 REALTOR® Association of Southern Kentucky RASK puts on two events (REALTORS® Hope for Hunger Project and REALTORS® Hope for Hunger GLOW 5k) each year to raise money and awareness for those in our
community dealing with food insecurity. We see this a vital need when it comes to community development. Working with our local school systems has been so rewarding. We feel education is where community and economic development begins. Making sure students can focus on school and not where their next meal comes from, ensures a student can perform to their highest level. If approved for this grant, the money will be spent directly to buy food for our local students. We also give a portion of the sponsorship money collected from these events to a local homeless shelter. Grant Amount Awarded: $2,000
Central Kentucky Association of REALTORS® The Central Kentucky Association of REALTORS® CODE Grant application asked for donations for scholarships to be shared by two local technical schools – Bluegrass Community and Technical College, Danville Campus and Campbellsville University, Harrodsburg Campus. CKAR chose these campuses because they are close to all eight counties in their jurisdiction. There are approximately 600 job openings for technical positions in their area. However, the employers are having a difficult time finding qualified applications. Grant Amount Awarded: $2,000
Kentucky REALTORS® | 7
Heart of Kentucky Board of REALTORS® A joint meeting between school officials and area Home Builders Association representatives in the fall of 2019 solidified the desire of both parties to begin a high school residential maintenance carpenter career pathway and a construction pre-apprenticeship program in the 2020-2021 school year. The establishment of these high school career pathway programs will satisfy two important objectives: (1) equipping future high school graduates with job skills which provide a living wage and (2) creating a larger skilled labor pool for local jobs in the skilled trades and construction industry sectors. The Schools to Skills grant will provide a rich, relevant curriculum vetted by industry professionals. The grant funds will also allow two future faculty members to be trained together for a consistent, high quality implementation. An agreement with the local community and technical college allows school district instructors to use equipment and laboratory space as part of the HBI PACT curriculum implementation. The Hardin County High School system will administer the program in conjunction with the local community college to educate youth in trades needed for construction and maintenance of homes. The community college will develop a coop program to place select students with local builders and tradesmen in an apprentice role. Grant Amount Awarded: $2,000
Old Kentucky Home Board of REALTORS® Every year, the OKH Board of REALTORS® conducts a school supply drive – Project School Supply - to collect all the essentials for getting kids back to school: backpacks, notebooks, pencils, crayons, etc. However, 2020 was a little different due to COVID-19 and the lack of in-person teaching. For 2020, the needs may be less of the traditional school supplies and more to the enabling of all students and teachers to have access to technology, access to wifi, and other nontraditional tools for teaching differently. Grant Amount Awarded: $2,000
KYR Regional Director Cindy Payne joined OKH Home Board of REALTORS® 2020 President Edward Seay and 2020 Treasurer Pat Hagan and KYR 2020 President Lester T. Sanders in presenting Stacie Vittitow, Sarah Rogers, Howie Spears and Katrina Haydon from various Nelson County Schools and Bardstown City Schools rep. Josh Payne with the grant funds check.
the parks in 2020. The CODE Grant money will go towards purchasing 4 metal benches that will be donated to the city for the parks. Grant Amount Awarded: $2,000
REGION 3 Greater Louisville Association of REALTORS® Region III applied for a $10,000 grant to participate in a community project in Louisville that affects not just one, but all three areas of criteria for the CODE grant. It will have an economic development impact, as well as community development exposure and opportunities, and in turn become a driving force for fair and affording housing. The Louisville Urban League is working with many community entities to develop and create a revenue generating facility in Louisville’s west end, costing $50 million to build. In addition to serving residents in the community, this sport and learning complex is projected to bring over 30,000 visitors each year to Louisville, which will have a substantial economic impact to the community. The conservative projected economic impact to the community is $47 million. The Kentucky REALTORS® will be memorialized on two seats in the sports complex with additional recognition inside the facility. The seat naming rights are for 20 years. For more information about the project, visit sportsandlearningcomplex.org.
South Central Kentucky Board of REALTORS®
Grant Amount Awarded: $10,000
With all the issues surrounding COVID and the need for adults and kids to spend more time outside it became apparent that we needed to improve our Park system. For many of the members of our community the parks provide their primary access to outdoor recreational opportunities. The Park system had already created a master plan to revitalize the parks and this seemed like a perfect year to work on this plan. The city has completed renovations of bathrooms, picnic areas, and playgrounds in several of
REGION 4
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Lexington-Bluegrass Association of REALTORS® Their grant request will go towards investing in creating a scholarship for under-represented minority students at the Building Institute of Central Kentucky (BICK) Workforce Development Training Program.
REGION 6 Ashland Area Board of REALTORS® From left: KYR 2021 President-Elect Mike Inman, KYR Past-President Al Blevins, 2021 KYR Region 4 Director Donna Gregorich (virtually), LBAR 2020 President Greg Buchanan, KYR 2020 President Lester T. Sanders, Todd Johnson, EVP of BIA
Consumers are finding historically low interest rates and have an eye toward home improvement and remodeling projects, as everyone is spending significantly more time at home. Home sales are soaring while the inventory of new and existing homes to the market remains in decline. With the recent increase in demand for their services, builders, remodelers, and homeowners are facing a substantial reduction in available skilled tradespeople to do the work. When the only qualified workers are tied up on someone else’s job, unwelcome delays in the building, remodeling, maintenance and repair timelines occur. Grant Amount Awarded: $10,000
REGION 5 Northern Kentucky Association of REALTORS® The City of Covington has conducted multiple surveys of the residents and the number one request has overwhelmingly been a Dog Park. As a result of the surveys, the City has allocated dollars and a parcel of land to accomplish this. The south end of Goebel Park consisting of approximately one acre has been designated as the future site. The anticipated total cost of the project to include watering stations and an agility station is estimated to be $100,000. The City has allocated $20,000 for the design and engineering of the allocated space and $50,000 for the construction of the dog park. The addition of our $10,000 grant would give the City enough money to prepare and construct the park and get it open to the public. While it is still short of the ultimate goal by $20,000 this additional money is earmarked for enhancements and will not affect the ability of the park’s opening. They will permit a park bench or benches with REALTOR inscribed in the back to promote the brand and will consider a permanent plaque in the park thanking KYR and NKAR for our contribution to the park.
The Community Involvement Committee of the Ashland Board of Realtors® has met with different organizations across our city to discuss the incredible opportunity provided through the 2020 CODE Grant Program. Partnering with the Build Ashland organization on a project that are wishing to complete will further the community and economic development of the City of Ashland by aiding in the revitalization of our Riverfront park and the underconstruction Judd Plaza in the Downtown area. We are excited we have the opportunity to contribute to the increased vitality in our community. Grant Amount Awarded: $3,333
Eastern Kentucky Association of REALTORS® The need for more parks and recreational areas in downtown districts in our cities is much needed. These are small towns with limited resources. With the grant funds, EKAR is able to place a nice park bench in downtown parks in four of the cities in their jurisdiction. Selection of the towns was based on the need and ongoing projects, response from local leaders, and the number of REALTORS® who worked and lived in each town. Grant Amount Awarded: $3,333
Somerset-Lake Cumberland Board of REALTORS® The Grant funds will go towards the building of Pinson Pier on Lake Cumberland. This new pier will drive the economic growth of the region and make quality of life improvements for so many residents and visitor to Lake Cumberland each year. The Pier will be name after Ryan Pinson. Ryan has autism and cerebral palsy and loves to fish. Unfortunately, the contours of Lake Cumberland offer very little bank access to fishing spots and they are not handicap accessible. This pier will benefit handicapped children and adults, disabled veterans, elderly, and the general public. Won’t it be nice to have a local place where someone with a disability or special need can experience fishing on Lake Cumberland or just a spot to sit and enjoy their day? Grant Amount Awarded: $3,333
Grant Amount Awarded: $10,000 Kentucky REALTORS® | 9
NEW KYR COMMITTEES IN 2021 Safety Committee VISION: We will work with the highest regard for the safety of our Realtors®, clients and property. MISSION: The KY Realtor® Safety Committee will create a strong CULTURE for safety awareness through strategic implementation of objectives focused on TRAINING, TOOLS, and TECHNOLOGY. The committee believes it is important to create a "Culture Change". - The REALTOR® Safety Change Model arose from the idea. The model is made up of four pillars and each of those pillars stand for an area of focus for 2021. Culture Commitment - How to get REALTORS® to make safety a focus and priority in their job planning and conduct? Technology - What APPS for phones or computer software is available to support safe work practices? Tools - What tools and documents are effective in listing and showing properties? Training & Situation Awareness - CE classes, situational awareness training, videos, webinars, and lessons learned. Instilling a stronger culture immersed in safety awareness and proactive behavior. We are currently developing a Safety Packet for local boards, brokers and agents. It will include: • • • •
Personal Safety Pledge for all REALTORS® Agent Identification Form REALTOR® Safety Plan Template Office/Local Board Safety Plan Template
"I grew up in an industry with the best 'safety record' in the world. So safety planning is a part of my DNA. My agents have always heard me say "Nothing's a problem, until IT'S A PROBLEM!" I feel that way about safety issues. Our goal as a committee for KY Realtors® is to equip our members with the right culture, the right education, tools and technology to keep them safe IF there's a problem! Thankfully, we've been fortunate in the past. I'm looking forward to 2021 being the year that we actively prepare our members for a safe and productive future!" — Chair Catherine Corbett "As for my story, I’m an open book and my safety concerns come from past experiences and the daily stories that are shared by my husband who is a detective and my son-in-law who is a police officer and works on the SWAR team. You can’t think through a safety plan when something happens. One life lost due to the lack of preparation is one life too many. The military and the police have to train regularly to keep things top of mind to prepare for what could happen. We are in an industry where people know that we are alone most of the time. There’s never anything lost from preparation outside of time. We only lose when we don’t prepare." — Vice Chair Lisa Presley
Diversity, Equity, and Inclusion Committee Our Mission is to promote a passionate and committed organization that celebrates and embraces the uniqueness of each member within The Kentucky REALTORS® • Open Books, Open Minds Book Club Great success! 4th Thursday of the month at 12pm EST. New books chosen for the Summer discussions. • T3Sixty demographic member survey (results published this spring) • The committee is encouraging all REALTORS® to complete NAR's At Home with Diversity and Fairhaven programs. "I am excited about the goals that our committee has set and already achieved for 2021. We believe education, awareness and advocacy on Diversity, Equity and Inclusion will help our KYR Realtor Members and Organization move forward in an ever-changing world. It is about WHO we R and every Realtor Voice Matters." — Chair Elizabeth Monarch "My hope is that the KYR DEI committee will be the catalyst for open, honest, and safe discussions among our members throughout the State. We all need to understand our country’s history as it relates to systemic segregation and discrimination against people because of their race, religion, sexual orientation, etc. Now is the time for REALTORS® to lead the way." — Vice Chair Lamont Breland 10 | kyrealtors.com
STAY CONNECTED KYR's public facing platforms promote industry news and information. Follow us there to share content and stay in the know! Kentucky REALTORS® - facebook.com/kentuckyrealtors Kentucky REALTOR® Institute - facebook.com/krinews Twitter - @kyrealtors LinkedIn - kentuckyrealtors YouTube – kentuckyrealtors (training videos, playlists, virtual town halls, guest speakers, MORE!)
Our closed facebook groups will help you stay connected! Easily find our virtual town hall events, facebook live streams, and association announcements. Kentucky REALTORS® facebook.com/groups/kyrealtors YPN Group (open to all REALTORS®) facebook.com/groups/kentuckyrealtorsypn
Stay connected with important industry information, survey results, housing data, and association news!
BY THE NUMBERS
The Kentucky REALTORS® Legal Hotline is designed for members, who are brokers or broker designees, to have direct access to a qualified attorney who can provide information on real estate law and related matters. Further, the program is intended to provide legal preventative maintenance to all Kentucky REALTORS® members and, through them, the public they serve. The Kentucky REALTORS® Legal Hotline is offered through the law offices of Vaughn & Smith, PLLC. It is not intended to replace legal counsel. It is intended to provide member brokers and/or their designee access to a qualified attorney who can provide information on real estate matters.
958 8 13 7 6
The total number of questions submitted by principal brokers or their designees since the Legal Hotline was founded.
The average time (in hours) for your question to be approved by KYR Staff.
Percentage of cases submitted that consist of questions regarding contracts.
Hours or less – The time it typically takes for an attorney to contact you regarding your question.
Number of years servicing members.
Questions to the Hotline are submitted in writing through the KYR website.
Responses from Vaughn & Smith, PLLC are given by phone. The attorney may only speak to the requesting Broker. Any communications with other staff or agents is not permitted.
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The Backyard Takes Center Stage in Everyday Life
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hat once only happened indoors now happens outdoors. From office work to working out, from eating to entertaining, if these activities were once usually held inside a home or office, they are now being brought to the great outdoors. Simply think back over the last year and recount the number of times your backyard has taken center stage in your everyday life. The family yard became the safe and purposeful space where we could gather and recharge.
No classroom? No problem. Your backyard or park is a living
“Spending time outdoors is great for your physical and mental health, and our backyards are the bridge between indoor and outdoorliving,” explains Kris Kiser, President & CEO of the Outdoor Power Equipment Institute (OPEI) and the TurfMutt Foundation. “The boundaries to ‘backyarding’ are only limited by our imaginations, and we expect people to take outdoor living to a whole new level now that spring is here.”
celebrations and gatherings challenging, but the backyard came to the rescue time and time again. Graduation parties. Family reunions. Birthday celebrations. Holiday gatherings. Reconnecting with friends. The family yard and community park are five-star event spaces that are always easy to book!
Here are just a few ways the backyard has blurred the lines between indoor and outdoor living.
The best video call backdrop, naturally. No need to turn to technology to create a virtual backdrop for video calls. The natural setting created by your yard’s living landscape – trees, flowers, bushes and other plants – is the best video call background, bar none.
laboratory for learning. Take online classes under the shade of a tree. Do homework at a patio or picnic table. Brush up on STEM education by planting and studying flowers, bug hunting, and weather watching. The family yard and community green spaces support outdoor learning, even when school isn’t in session.
A truly “green” spa. The healing power of nature is only a few steps away. Let stress blow away in the breeze as you swing in a hammock. Clear your mind with a few breaths of fresh air. Meditate to the sounds of nature. Do yoga to the soundtrack of songbirds. Make your lawn your exercise mat. The best “green” spa is the one in your own backyard.
Five-star event space. The pandemic made traditional
Setting the stage for backyarding. One final and important note to backyarders. Creating a yard that supports all of the aspects of your family’s outdoor lifestyle means taking stock of what you might need to care for your lawn. Take an inventory of your outdoor powerequipment to make sure you are prepared. Then, get out there and create your canvas for even more backyard memory-making. To get inspired to “backyard more” in the seasons ahead, go to TurfMutt.com. Kentucky REALTORS® | 13
RPAC UPDATE RPAC Four-Peat! President’s Cup recognizes the hard work state and local REALTOR® leaders and association staff perform to advance the REALTOR® Party. For the state Association to win the prestigious President’s Cup, 9 goals must be met or exceeded. These goals include Calls for Action participation, REALTOR® Party Mobile Alerts participation, RPAC participation, and RPAC fundraising goal. For the FOURTH consecutive year, KYR has achieved the President’s Cup from NAR. Kentucky joined only sixteen other state Associations in winning the President’s Cup for 2019. The award will be presented during virtual NAR’s Legislative Meeting and Trade Expo in Washington, DC from May 3-14. Can you say four-peat?!
2020 RPAC Major Investors PLATINUM R Mike Inman
GOLDEN R Al Blevins Tony Clark David Earls
Charles Hinckley Justin Landon Ann McDonald
2020 Local Association President’s Cup Winners Central Kentucky Association of REALTORS® Eastern Kentucky Association of REALTORS® Henderson Audubon Board of REALTORS® Hopkinsville Christian County Board of REALTORS® Kentucky Barkley Lakes Board of REALTORS® Murray Calloway County Board of REALTORS® Inc Northern Kentucky Association of REALTORS® Old Kentucky Home Board of REALTORS® Owensboro Board of REALTORS® Paducah Board of REALTORS® Pennyrile Board of REALTORS® REALTOR® Association of Southern Kentucky Inc Somerset-Lake Cumberland Board of REALTORS® South Central Kentucky Association of REALTORS® Inc The Heart of Kentucky Association of REALTORS®
A special thank you goes to our RPAC Investors! Kentucky REALTORS® is a member driven organization. Fortunately, our members not only see the value in investing in RPAC, but also the value of the American dream of homeownership and real property rights. We recognize those members that have gone above and beyond with their contributions to RPAC in 2020.
KYR RPAC Mourns the Passing of RPAC Hall of Fame Member Ann McDonald She received her real estate license in 1975 and her broker license in 1978. She was, in many ways, a pioneer in Kentucky real estate for over 46 years. Ann was also a pioneer in RPAC. She first became a Major Investor in 1999, and then a member of the National Association of REALTORS® Hall of Fame in 2015. Ann was a tremendous advocate for RPAC and was relentless in her efforts to gather RPAC investments from her fellow REALTORS®. KYR RPAC would not be as successful as it is today without the dedication of members like Ann McDonald. We are grateful for her influence and passion for RPAC. She will be missed. RPAC donations may be made in memory of Ann during the KYR Summer Retreat. 14 | kyrealtors.com
Guy Montgomery Charlie Murphy John Weikel
CRYSTAL R Rick Barker
Greg Buchanan
STERLING R Nancy Allison Sandy Allnutt Dennis Anderson Greg Back Joshua Barrett Michael Becker Thomas Black James Bramblett C. Lamont Breland Missy Bricking Matthew Brown Bonnie Byerly Daniel Carmack Angi Cline Steve Cline Catherine Corbett Anne Hart Cornett Jayne Cox Greg Crase Ronald Cummings Barbara Curtis Sallie Davidson AnnElizabeth Delahanty Gary Denton Brad DeVries Larry Disney Lois Ann Disponett Paula Elder Helen Fardo Pamela Featherstone Stacey Fergerson Barbara Flannery Charles Ford Sherri Frye Lonnie Gann
A. Jo Gawthrop Sara Gipson Kristy Gooch Brenda Gooslin Donna GordonWilloughby Donna Gregorich John Groft Karen Gross Deni Hamilton Stephen Heartsill David Hill Mary Ann Hollon Kimberly Holtegel John Huggins Ronald Hughes Todd Hyatt Tanya Kaup Connie Lawson Brenda Loyal Scott Lyons Amanda Marcum Carter Martin Bonnie Mays Rue Mc Farland Thomas S McCallie James McKee Jonah Mitchell Elizabeth Monarch Brenda Morgan Deborah Morgan Penny Morris Becky Murphy Toshie Murrell Randy Newsome
Kelley Nisbet Mike Parker Judie Parks Dave Parks Janet Perkins Nita Phillips-Allen Rick Pulliam Charlene Rabold Robin Roseberry Lester Sanders Kurt Schuler Jason Scolf Jim Sewell Mary Anne Simmons James Simpson Rebecca Smith Tim Smith Mike Spicer Steve Stevens Jennifer Swendiman Carl Tackett Tom Thomas Michael Thomas James Tinsley Rusty Underwood John Vince Kenneth Warden Millie Weaver Nelson Weaver Debbie Williams Danny Willis Janie Wilson Sally Zaring
Why I Invest
Bonnie Byerly
Why do I give to RPAC? Because I love my job! RPAC helps to assure that I continue to have a job helping people achieve their dreams. RPAC fights for homeownership and private property rights. It does far more than I can begin to explain, and goes way beyond just property rights. It is bipartisan, which means we are not Red, Blue, or any other color. Instead, RPAC fights for all rights that effect our industry, no matter which party is representing the issue. RPAC has fought for years to keep the Mortgage Interest Deduction available to homeowners. Another issue that has been at the forefront lately is the National Flood Insurance Program. RPAC has been on the front line working to keep this program active. RPAC is the best way to support who we call our "REALTOR® CHAMPIONS". This means contributing funds to legislators who support homeownership rights and any issue or potential legislation that affects the housing industry. I heard for years about RPAC being the insurance policy for the real estate industry. Once I became involved in RPAC I quickly learned this was the truth! I love my job and I love knowing that I'm part of helping to keep the real estate profession growing and going strong by investing in RPAC. Join me in becoming an investor and help keep our profession moving!
$50K Level NAR RPAC Hall of Fame Achieved Guy Montgomery is KYR’s newest $50,000 level RPAC Major Investor. Congratulations on joining an elite group of individuals that believe so strongly in RPAC and the REALTOR® Party. As we look back on the 50th anniversary celebration of RPAC in 2019, your commitment is appreciated more than ever before!
Jess and Carolyn Kinman Award – Rep. Randy Bridges The Jess Kinman Award is the highest legislative honor presented by Kentucky REALTORS®. The award is named in honor of Jess Kinman, a former Kentucky REALTORS® president and REALTOR® of the Year, who passed away in 2007, and his wife Carolyn, who worked for many years at the Legislative Research Commission and General Assembly. The Kinman Award is presented to a member of the General Assembly, whose involvement in the legislative and political arenas has left an indelible mark on all those who have known or worked with him or her. This award recognizes REALTOR® Champions who go above and beyond the normal call of duty to support the American Dream of Homeownership. Representative Randy Bridges from Paducah is this year’s recipient of the Jess Kinman Award. Rep. Bridges represents House District 3 which serves part of McCracken County. Rep. Bridges has only been a member of the General Assembly a short period of time, but that has not stopped him from quicky becoming a REALTOR® Champion. In 2019, he was the lead
sponsor on HB 436 – a bill that changed real estate licensing and renewal, reduced professional liability for licensees and put additional consumer protections in place. Most importantly, Rep. Bridges has a 100% voting record with Kentucky REALTORS®!
2020 RPAC Hall of Fame Inductees: The Hall of Fame recognizes dedicated members who have made a significant commitment to RPAC over the years by investing an aggregate lifetime amount of $25,000 or more. Steve Cline Ken Warden Joining the Class of 2020 National Association of REALTORS®’ RPAC Hall of Fame is Steve Cline and Ken Warden. Hall of Fame Induction Ceremony will occur during the May 2021 REALTORS® Legislative Meetings & Trade Expo, held in Washington, D.C. As a Hall of Fame member, a plaque bearing Steve and Ken’s name will be displayed on the rooftop of the NAR building in Washington, D.C.
2021 President’s Circle Investors The President’s Circle is a special group of REALTORS® who contribute directly to REALTOR®-friendly candidates at the federal level. The President’s Circle Program supports REALTOR® Champions—members of Congress who have made significant achievements in advancing the REALTOR® public policy agenda. The President’s Circle Program allows REALTORS® to contribute beyond RPAC dollars and increase the strength of the REALTOR® voice on Capitol Hill. Our President’s Circle Members are: Al Blevins Tony Clark Steve Cline AnnElizabeth Delahanty Lois Ann Disponett
David Earls Charles Hinckley Mike Inman Guy Montgomery Charlie Murphy
Paul Ogden Dave Parks Mike Parker Carl Tackett John Weikel Kentucky REALTORS® | 15
LEGISLATIVE UPDATE Legislative Update As the voice of real estate and private property rights, Kentucky REALTORS® knows the impact homeownership has on neighborhoods, communities, and the overall vibrancy of the Kentucky economy. Kentucky REALTORS® advocates for policies that increase access to the American Dream of homeownership by promoting growth, attracting new jobs and talent, and encouraging positive community development. Kentucky REALTORS® serves as the voice and the champion of its almost 12,000 members that live, work, and invest in every corner of the Commonwealth. Throughout the 2021 legislative session, Kentucky REALTORS® Quick Response Team (QRT) was hard at work deliberating on which bills KYR should get involved with during this session. Chaired by Mike Inman and Vice Chair Angi Cline, this committee is designed to be a fast-acting committee that analyzes legislation that could impact the real estate industry in Kentucky. The QRT meets every Friday while Session is in to discuss any relative bills and guide the decision process for KYR to support, oppose, or monitor them based upon their impact on REALTORS®, homeowners, and the health of the real estate industry. This session, the QRT voted to support 13 pieces of legislation that the QRT felt advanced KYR’s Legislative Priorities: Protect the Real Estate Profession, Growth and Economic Prosperity, Tax Reform, Community Development. Of the 286 Senate Bills and 595 House Bills that were filled this session, the QRT monitored 90 of those pieces of legislation.
• Protect the Real Estate Profession KYR will work with the new administration and legislators to ensure the highest level of consumer protection, education standards, and professionalism among licensees. Also, KYR fights to eliminate regulations that affect housing affordability and burden small businesses and independent contractors in real estate professions.
• Growth and Economic Prosperity Kentucky REALTORS ® supports legislative efforts that promote economic development initiatives that bring new jobs to Kentucky. Additionally, KYR supports market-driven
VOTER
R E G I S T R AT I O N
Make your voice heard by heading out to the polls to support REALTOR® Champions. Please visit elect.ky.gov for voter registration, information about polling places, and a sample ballot. Kentucky REALTORS® serves more than 12,000 members, which translates to about 86 REALTORS® for every Senator and Representative in the Kentucky General Assembly.
16 | kyrealtors.com
approaches that foster a wide-range of urban, suburban, and rural housing choices.
• Tax Reform Opposing Sales Tax on Services has been a mainstay on our legislative priorities – and will continue to be. It is important that undue burdens not be placed on homeowners and other consumers of real estate services. We work tirelessly to prevent legislation that would prevent a negative effect on the affordability of real estate.
• Community Development Many families in Kentucky have been affected by the opioid epidemic. We want to encourage and support legislative efforts that help combat the opioid abuse epidemic here in Kentucky. Supporting the expanded access to fast and reliable internet services across the Commonwealth is another top priority.
2021 Virtual Legislative Meetings and Policy Summit What a great week for Kentucky REALTORS®! The first virtual Legislative Meetings and Policy Summit was a huge success. During the 2021 General Assembly, our members were able to hear from REALTORS® that currently serve in the legislature and legislature leaders: Senate President Robert Stivers, Speaker of the House David Osborne, and the Minority Leaders from both Chambers Sen. Morgan McGarvey and Rep. Joni Jenkins. The most talked about session of the week was the “Women on the Hill” panel. Moderated by KYR Government Affairs Chair Angi Cline, our members were delighted to hear from McCarty Strategic Solutions Partner Amy Wickliffe, KY Chamber CEO Ashli Watts, Homebuilders Association CEO Anetha Sanford, and Chief of Staff to Congressman Jamie Comer, Caroline Cash. They hit it out of the park with their discussion. Other panels that were exciting included: A Look at the “Wicked Game” with Podcast host and producer Lindsay Graham and A State of Today’s Politics with Scott Jennings (co- founder and partner of RunSwitch PR firm) and Matt Jones (owner and founder of Kentucky Sports Radio), and we heard from NAR policy leaders Drew Myers, Helen Devlin, and Bryan Greene. Links to the replay of each day can be found on the KYR website under the “meetings” tab.
Supported and Opposed Bills: The start of the 2021 Legislative Session was anything but dull. Bills aimed at limiting the Governor’s emergency powers and legislation related to the budget all saw movement early in session. Governor Beshear quickly vetoed those bills aimed at limiting his powers. However, as expected, the General Assembly ultimately overrode the vetoes of six pieces of legislation. In response, the Governor quickly filed a lawsuit challenging three of bills pertaining to COVID-19 executive powers. Those three bills are: HB 1, SB 1 and SB 2. As for the budget, these budgets set the maximum sum of public funds that state agencies can spend during a given fiscal year. In
Kentucky, the fiscal year begins on July 1 and ends the following June 30. There are two separate categories for the budget: the operating budget and the capital budget. The operating budget provides funding for the everyday programs and services of the Kentucky state government, and the capital budget provides financing for expenditures tied to the expansion rather than dayto-day operations. Here is a breakdown of the supported bills the Legislative Quick Response Team voted to support during the 2021 Legislative Session:
SB 11 (Schickel, J) Rental Property Criminal Damage: This legislation was also supported in the previous session by our QRT. SB11 will provide rental property owners the ability to pursue legal action against tenants who purposefully deface, destroy, or damage residential rental property. Currently, property owners have no recourse against tenants who damage rental property. SB 11 was vetoed by the Governor during the Veto Session. However, lawmakers overrode this veto in the last couple of days of session.
HB 207 (Gooch, J) Fossil Fuels: This legislation would prohibit a local government entity from taking any legislative or executive action that has the purpose or effect of impairing a consumer’s ability to use a utility service that is described in KRS 278.010 (3)(a), (b), (c) and that is provided by utility regulated by the Public Service Commission. This bill was signed by the Governor on March 25, 2021.
SB 10 (Givens, D) Creation of a Commission on Race and Access to Opportunity: This measure would establish a Commission on Race and Access to Opportunity to conduct studies and research on issues where disparities may exist across the sectors of educational equity, child welfare, health, economic opportunity, juvenile justice, criminal justice, and any other sectors that are deemed relevant in an effort to identify areas of improvement in providing services and opportunities for minority communities. This bill became law without the Governor’s signature on March 28, 2021
HB 172 (Frazier, D) KY Real Estate Appraisers Board: This bill comes from the Real Estate Appraiser Board. Below are a couple of key points in this bill: • Require the board to employ state-certified general appraisers with at least 5 years of experience to conduct grievance investigations • Eliminate the initial application fee, examination fee, duplicate certificate fee, and roster fee for non-federally related transactions. KYR supported this legislation last year as well. This bill was signed by the Governor on March 15, 2021
HB 151/SB243 (Huff, T and Howell, J) Recorded instruments:
This legislation would require county clerks to be open for reviewing and obtaining copies of recorded instruments for 40 hours a week unless they maintain a portal that allows the public to search for electronic copies of recorded instruments. It also sets
a deadline for county clerks to maintain portals for the filing and searching of recorded instruments. These bills did not move this session. SCR 136 was filed to extend the County Clerk Modernization Task Force – which KYR will be represented by two members.
HB 570 (Meade, D) Emergency Rental Assistance Fund: This bill establishes the Kentucky Emergency Rental Assistance Fund and provides for its administration and funding. If a state emergency is declared that exceeds 30 days and includes a cease on evictions, $5 million will be put into the Assistance Fund. The $5million will come from the Budget Reserve Trust Fund. This bill did not move this session.
HB 587/588 and SB100/125 (Fleming, K and Stivers, R) West End Opportunity Partnership: This bipartisan bill would offer investment and economic solutions to Louisville’s West End neighborhoods of Parkland, Shawnee, Park Duvalle, Russell, Portland, California, Chickasaw, Park Hill, and Algonquin. Key elements of the legislation include measures to attract investment, prevent displacement of current residents due to increasing housing values, creation of a tax incremental financing program and development area, and creation of a board to oversee investment opportunities and neighborhood initiatives. The final provisions of this legislation were included in HB 321.
SB 264 (West, S) Evictions:
This measure would forbid a governmental entity to prohibit or impose other restrictions on evictions or foreclosure for nonpayment of rent during a state of emergency. This bill did not move this session.
SR 51 (Schickel, J):
This Resolution will honor Jeff Smith upon winning the Lifetime Achievement Award from the Northern Kentucky Association of REALTORS®. Congratulations, Jeff! We appreciate everything you do for NKAR and KYR!
30644
The number to text the word REALTOR to 30644 to sign up for the REALTOR® Party Mobile Alerts. By signing up, REALTORS® have a way to stay connected directly from their cell phone or tablet. Get information on finding your polling locations, election and primary voting day reminders and participate in Calls for Action.
SPRING 2020 | Kentucky REALTORS® | 17
EDUCATION Kentucky REALTOR® Institute Prelicensing Program www.kyrealtorinstitute.com > Pre-licensing In order to meet the needs of today’s students, KRI is offering the entire 96-hour pre-licensing program online. The course is available 24/7 and can be taken at their own pace and time. Packages and a la carte pricing available.
License Reciprocity www.kyrealtorinstitute.com > license-reciprocity The Kentucky Real Estate Commission ended the policy of license recognition on December 16, 2019, with the new regulations allowing for license reciprocity. The Kentucky Real Estate Commission is currently negotiating reciprocal agreements with individual states. Kentucky REALTOR® Institute, your source for education, proactively updates it’s license reciprocity page on the KRI website as announcements are made on new agreements and how you can get your license in a reciprocal state.
Online Courses www.kyrealtorinstitute.com > continuing-education KRI offers a wide selection of online education, with both local and national instructors. You will find courses covering both law and elective CE, PLE Hours, and Ethics. The newer courses are video-based, putting the instructor right in front of you – it’s just like being face to face. Courses are available to you 24/7 and can be taken at your pace – all you need is a computer and internet access.
REALTOR® Code of Ethics NAR's Board of Directors approved a change to the Code of Ethics training requirement, extending it from every two years to every three years. This extends the current cycle deadline from Dec. 31, 2020, to Dec. 31, 2021. REALTORS® are required to complete ethics training of not less than 2 hours, 30 minutes of instructional time. The training must meet specific learning objectives and criteria established by the National Association of REALTORS®. Training may be completed through local REALTOR® associations or through another method, such as home study, correspondence, classroom courses, or online courses. Additionally, KRI offers multiple online courses that can satisfy your CE, as well as your Code of Ethics requirement.
Post-Licensing Education (PLE) www.kyrealtorinstitute.com > Post-License Post-licensing Education (PLE) law went into effect on January 1, 2016, which requires all new licensees to take 48 hours of approved PLE courses within two years of license activation.
Kentucky License Law Manual Order Your Copy Today
18 | kyrealtors.com
bit.ly/krilawbook
KRI has you covered, as all 6 GRI courses (GRI 100-600) satisfy the 48 hours of PLE requirements and can be taken in classroom or live webinar. KRI also offers a variety of traditional online PLE courses, including our very popular 48 Hour Online PLE Packages. Our PLE packages offer a variety of courses for different types of learning styles, keeping you on your toes!
Graduate Realtor Institute (GRI) Designation www.kyrealtorinstitute.com > GRI The GRI program has been redesigned to meet the needs of today’s real estate professional, including one-day courses and a full year’s worth of CE per course. The courses also count for broker and PLE credit. With GRI, you can build your business and expand your knowledge through courses that offer specific training in key areas of real estate. And, you will increase your network of real estate professionals that can assist in generating leads and referrals from across the state. Get started now on the most popular national designation in real estate. GRI is available in the classroom and live webinar.
2020 GRI Recipients: Missy Craft Anita Brown Joe Metzger Shellie Hansen Greg Hansen Karen Stone Matthew Grimes Nikki Smith
Donna Bittner B Scott Griffie Pauline Ohara Daniel Wolf Matt McCall Joy Raymond Gloria Reed Nathan Garrett
Johnna Tharp Lisa Humphrey Gregory later Denise Pace Nancy Gries Alice Stewart Mary Rowlett Regina Parker
KRI Scholarships www.kyrealtorinstitute.com > Scholarships The KRI Trustees award scholarships on an annual basis as a way to meet its mission of enhancing real estate professionalism and knowledge by providing quality educational services and programs for the real estate industry and the public. KRI makes scholarships available to members who want to obtain the GRI designation, as well as provide scholarships to Kentucky residents who wish to pursue a career in real estate.
Scholarships Available & Deadlines The application deadline for the Pre-licensing, GRI and College scholarships was May 31st.
2021 Currently Scheduled Courses: http://www.kyrealtorinstitute.com > calendar
REMINDER Former Madison County Board members are eligible for GRI course reimbursement. As part of the dissolution agreement, funds are available on a first-come first served basis for GRI course rebates. Any former Madison County association member that has not yet earned the GRI designation is eligible. Email kri@ kyrealtors.com to begin the process.
New & Upcoming COMING SOON
KRI’s NAR Fairhaven: A Fair Housing Simulation (For CE - Online) Fundamentals of Real Estate Appraisal (Online) Property Management (Online) Online CE Packages (Online)
SPECIAL EVENTS
The REALTOR Summit
UofL Event & Conference Center, Louisville- August 26th All day Event with CE/Broker Hours
KYR Summer Meeting - June 28th - 29th French Link Resort 4 CE/PLE Approved Courses
KYR Annual Convention - September 27th - 30th
Covington, KY Multiple CE/PLE Approved Courses Legal Track CRS: Tax Strategies for the Real Estate Professional w/Chris Bird September 27th Keynote Speaker: Ryan Harris (Retired NFL Player) Speaker Highlights: Nobu Hata, Jennifer Cassetta, Marki Lemons-Ryhal
CURRENT OFFERINGS
Pre-licensing (Online) 96 Hour Program
License Reciprocity
Ohio Reciprocity Course Tennessee Reciprocity Course - NEW West Virginia Reciprocity Course - NEW
Broker Education (Online)
Broker Management (48 Broker Hours) Essentials of Finance (48 Broker Hours) Essentials of Investment (48 Broker Hours) - NEW Commercial & Investment (20 Broker Hours) Principles of Home Inspection (96 Broker Hours)
Post-licensing
Available with GRI 100-600 Classroom Education Live Webinars Online Education & 48 Hour PLE Packages KREC Compliance
Continuing Education & Ethics Available with GRI 100-600 Live Webinars Classroom Education Online Education Kentucky CORE Online
Real Estate Safety & Beyond Certification
Real Estate Safety and Beyond Certification Program Day 1 Real Estate Safety and Beyond Certification Program Day 2
Professional Standards
Professional Standards Training - Classroom Mediator & Ombudsman Training - Classroom/Webinar
The Graduate Realtor Institute Designation (GRI) Available in Classrooms Throughout Kentucky Webinar Classes
Check out our calendar on the KRI website to find what classes are available.
The Kentucky REALTOR® Institute is licensed by the Kentucky Commission on Proprietary Education. Kentucky REALTORS® | 19
FEATURE ARTICLE
Written Consent to Advertise If it walks like a duck, quacks like a duck it is still a duck
T
BY JASON VAUGHN
he language of 201 KAR 11:105 Section (1) has recently been changed, and this has caused many to ask what the net effect is of said change. 201 KAR 11:105 Section (1) now reads as follows:
Section 1. Consent Required to Advertise a Specific Property. (1)(a) A licensee shall not: 1. Advertise real estate for sale or lease without the written consent of the owner; 2. Place signage or another advertisement on any private or listed property without the written consent of the owner; or 3. Promote or advertise a specific property listed by another principal broker unless the licensee has requested and obtained written consent from the listing principal broker. (b) Nothing in paragraph (a)1. through 3. of this subsection shall prohibit a licensee from utilizing public information, including information regarding real estate closed by another licensee, to market his or her real estate brokerage services to consumers. (2) A licensee who served as a buyer's agent may advertise his or her role in a sale after a closing has occurred if the advertisement clearly and visibly states that the licensee's participation was as the buyer’s agent. The underlined term “written consent” was changed from the previous term “listing agreement.” The question becomes, “What is the effect of said change?” The answer is simple; Not very much. 201 KAR 11:121 sets forth specific terms that must be contained within a "listing agreement." They are as follows: • Listing price of the property, unless the sale is to be by auction; • Date and time of the signing of the listing contract for all parties who sign; • First and last name of the principal broker and the full name of the real estate brokerage company; • Effective date and time of listing and advertising, if different; • Date of expiration of the listing contract; • Fee, compensation, or other valuable consideration agreed upon between the principal broker and the client; • Address or a general description of the real estate sufficient to identify the parcel or parcels; • Signatures and printed names of all parties necessary to affect a sale of the property, including any dower or courtesy considerations or the official representative of a legal entity, that is the subject of the listing agreement; 20 | kyrealtors.com
• Special directions of the client concerning limitations or restrictions on showings; • Date, time, and initials for all changes on the contract prior to acceptance. Before the regulatory language change, if you were advertising a specific property, your agreement with the property owners had to include the terms mentioned above. Now, the regulation no longer requires those terms to be included in the written consent agreement. Presumably, a listing agreement would still require said terms. In short, the form necessary to advertise a specific property has gone through some “deregulation.” However, what has not changed, is the agency relationship created when you are advertising the sale or lease of a specific property for a fee, compensation or other valuable consideration. This is because said action is a “brokerage service.” KRS 321.010 defines Real Estate Brokerage as follows: “…a single, multiple, or continuing act of dealing in time shares or options, selling or offering for sale, buying or offering to buy, negotiating the purchase, sale, or exchange of real estate, engaging in property management, leasing or offering to lease, renting or offering for rent, or referring or offering to refer for the purpose of securing prospects, any real estate or the improvements thereon for others for a fee, compensation, or other valuable consideration.” After explaining that all written contracts involving real estate brokerage services are owned by the broker, 201 KAR 11:121 Section 7(2) is unequivocal in its language: “When a principal broker, or a licensee acting on behalf of the principal broker, enters into a written agreement with a client, an agency relationship is formed, and the client is the principal.” This means that all of the agency regulatory and statutory requirements outlined in our Commonwealth's laws still apply. Do not be fooled; you cannot contract your way out of agency and your responsibilities to your client and the general public. Jason Vaughn is a lawyer with Vaughn & Smith, PLLC in Louisville and serves as legal counsel to KYR. The attorneys at Vaughn & Smith, PLLC constantly monitor the real estate industry as a whole, as well as any and all changes in the law that may affect it. They have intimate knowledge of commercial and residential real estate transactions and can utilize this base knowledge when representing their client's interests. This discussion should not be viewed as legal advice. Please consult your attorney.
Kentucky REALTORS® | 21
Q. Why do you YPN? Q. Why Q.do Why you doYPN? you YPN? A. I joined the Young Professionals Network because I was interested in being on the front line of helping A. I joined A. I joined the Young the Young Professionals Professionals Network because because I was Iinterested was interested in profession being on theon front the front line ofline helping of helping young real estate professionals progress in Network their careers. My favorite partinofbeing our is networking. young young real estate real estate professionals professionals progress progress in their in careers. their careers. My favorite My favorite part of part our of profession our profession is networking. is networking. Our entire community of Realtors®, newer and more seasoned, have built careers on networking with the Our entire Our community community of Realtors®, of Realtors®, newer newer and more and more seasoned, seasoned, have built have careers built on networking on networking with with the public; so it entire only makes sense that in order for us to grow and better ourselves, as a careers whole, networking withthe public; public; so itwould only so itmakes only makes sense sense that in that order in order for to us grow to the grow andgroup better and of better ourselves, ourselves, as a whole, as asee whole, networking networking one another be a key component. I want tous befor part of young leaders who the value inwith with one another one another would beturn, a key bethe acomponent. key component. I wantI want to be to part beof part the of group the group of young leaders who see who the see value the value in in communication and,would in value in networking together for the benefit of of allyoung in our leaders profession. communication communication and, in and, turn, in turn, the value the value in networking in networking together together for the for benefit the benefit of all of in our all inprofession. our profession. A. I YPN to make myself get out of my comfort zone to meet other REALTORS® with the same interests as me A. Iwho YPN A.are Ito YPN make to make myself myself get out get ofout my of comfort my comfort zone to zone meet to meet otherother REALTORS® REALTORS® with the with same the same interests interests as meas me and looking to improve their real estate skills. and who andare who looking are looking to improve to improve their real theirestate real estate skills.skills. A. I am involved in YPN because I am passionate about helping others. I like to network to share success stories and failures hopes to because prevent others fromabout making thehelping same mistakes I have. alsoto understand this A. I am A. involved I am involved ininYPN inbecause YPN I am passionate I am passionate about helping others. others. I like to like network toI network share to share success success isstories a career that should built on relationships, sofrom it is making important me good across the this this stories and failures and failures inbehopes in hopes to prevent to prevent others others from making thetosame thebuild same mistakes mistakes Ifriendships have. I have. I alsoall Iunderstand also understand state if is we going to should bebe inbuilt for long is a career a are career that should that bethe on built relationships, onhaul. relationships, so it issoimportant it is important to meto build me build good friendships good friendships all across all across the the state state if we are if we going are going to be to in for be in the for long thehaul. long haul. A. Being a part of the YPN is a great way to give back and have an impact on our industry. I enjoy being a part ofA. the YPN I have anisYPN opportunity serve members their Being A. Being abecause partaof part the of YPN the a great is a great waytoto way give toour back give and backhave andand an have impact an needs. impact on our onindustry. our industry. I enjoy I enjoy beingbeing a parta part
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A. The YPN has helped me feel more involved and valued as a Realtor® at the state level. I feel that I do what I can forhas myhelped board, but feel being partmore of something bigger, especially for at mythe State that I love so dearly, really A. locally TheA.YPN The YPN has helped me memore feel involved involved and valued and valued as a Realtor® as a Realtor® at state the state level. level. I feel that I feelI that do what I do what I I brings a sense of feeling I am doing all I can to help other young professionals thrive. I look forward to meeting can locally can locally for myfor board, my board, but being but being part of part something of something bigger, bigger, especially especially for myfor State my State that I that love Iso love dearly, so dearly, reallyreally with other links-minded Realtors® who also see the value in bringing agents together for a common good. bringsbrings a sense a sense of feeling of feeling I am doing I am doing all I can all to I can help toother help other youngyoung professionals professionals thrive. thrive. I look Iforward look forward to meeting to meeting with other with other links-minded links-minded Realtors® Realtors® who also whosee also the see value the value in bringing in bringing agents agents together together for a common for a common good. good. A. I have built a network of agents to call when I need to brainstorm ideas, learn from and to share business with. And they are also very encouraging and supportive. You need those people in your life! A. I have A. I built have abuilt network a network of agents of agents to callto when call when I needI to need brainstorm to brainstorm ideas,ideas, learn learn from and fromtoand share to share business business with. with. And they Andare they also arevery alsoencouraging very encouraging and supportive. and supportive. You need You those need those people people in your inlife! your life!
Jen Swendimen Region 5
Jen Swendimen 5 Jen Swendimen RegionRegion 5 22 | kyrealtors.com
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RachelRachel SmithSmith At Large At Large
Stacy Fergerson Stacy Fergerson RegionRegion 2 2 Kimberly Kimberly BridgesBridges Leadership Leadership KYR KYR
Kentucky REALTORS® | 23
KYR Healthcare Marketplace is now open! We have worked, for several years, on a healthcare solution that would be a great fit for our members. As you know, REALTORS® represent a large segment of independent contractors that struggle with obtaining affordable healthcare coverage – for both themselves and their families. KYR made a commitment to finding a solution. KYR’s ongoing effort to provide its members with a wide range of affordable and effective health and wellness products continues today! We have reopened our existing plans and added new ones to our new Healthcare Marketplace.
Our existing Medical Plans: · SBA Freedom Plan A – Zero deductible, preventive care and telehealth paid @ 100%, 3 doctor visits @ $20, and $10,000 of coverage for urgent care, ER, and hospitalization. Monthly rates start at $274 for Single, $439 for Plus 1, and $561 for Family · SBA Freedom Plan B – Everything in Plan A with an additional $10k of coverage ($20k total). Monthly rates start at $333 for Single, $552 for Plus 1, and $723 for Family · ASH Catastrophic Coverage – For those needing coverage beyond the $20k provided by Plan B. Members can purchase $150k, $250k, and $500k of additional coverage for as little as $104 per month for Single, $167 for Plus 1, and $248 for Family
What’s NEW: Essential Primary Care
A plan for those who desire minimal coverage at a very low monthly rate · Unlimited Virtual Care at $0 per visit (provided by MeMD) · Unlimited Primary Care at $10 per office visit – includes a free annual physical and up to 4 lab tests · Unlimited Urgent Care at $25 per visit · Complimentary ValuScript membership – 50 most common medications at participating pharmacies for FREE; $10-$45 copay on other less common medications; substantial savings on specialty medications · Monthly Rates: $99 (Single); $170 (Plus 1); $235 (Plus 2); $299 (Family)
Teladoc
Talk to a doctor 24/7 by phone, video, or Teladoc app for only $18 per month · Primary Care – speak to a licensed doctor for primary care issues for $0 · Behavioral Health – talk to a therapist seven days a week for $90 per session · Dermatology – relief from skin issues for $90 per consult · Monthly Rate: $18 (includes everyone in your family)
MetLife Dental
An exciting new dental program offered to REALTORS® and their families with options to fit every budget. MetLife covers both dentists in-network and out-of-network.
For enrollment information, plan outlines and brochures visit: 1enrollment.com/kentuckyrealtors today!
CEO'S MESSAGE
What Is the Value of Our Association?
W
hat IS the value of to them what we have to offer and how being a member of we get those messages to them. This this association? is quite often referred to as our “Value For many, that Proposition” and there’s a good chance answer easily that over time it can become stale or comes to mind. Common answers are the audience changes and when that typically things like: “I value being part occurs, we better change with it. of an organization with the strongest From where I sit, I am quite amazed advocacy for the real estate industry STEVE STEVENS, RCE, CCE, IOM at the many opportunities to be gained of any at the state level” or “being a CEO – KENTUCKY REALTORS® through membership in this association member of an association that helps AND the same can be said for being a me navigate a myriad of complicated member of both our local and national regulations and laws that affect my real estate associations. All of us have plenty of beneficial business” or even “I value the association’s strong programs and services tailored specifically to the education program that helps me stay up-to-date needs of REALTORS®. At the state level, Priority #1 is to on our rapidly changing industry”. Certainly, these represent REALTORS® at all governmental levels and are excellent answers, but there are so many more speak as the Voice of Real Estate whenever needed. that could be mentioned here as well. It should be We are here to serve our members and I’d venture noted that these would be the type of answers that to say would do just about anything to find those come from members who are engaged and involved “things” that will do that best. So, what do we do? in our association. Unfortunately, in our case, they come from less than 10-15% of our more than 12,000 Periodically, every organization needs to take members who are active participants. And the rest some time and revisit its Value Proposition and make – well, frankly they may have forgotten why they sure it is speaking to its customers. In the coming joined us. If we are lucky, they might occasionally months, we will be examining this a lot closer. attend one of our education classes or they could be Perhaps we will end up talking about the same things involved in a professional standards case. The hard to our members we always have, but in different fact is that most don’t know any of the other good ways. It may be our message differs depending on work we are doing for them since they may not open the subgroups within our membership and this our emails or attend an event – AND, I don’t fault may just need repackaging. On the other hand, it them in the least. Here’s why: is important to reach deeply into the ranks of the unengaged, non-participating group and find out The fact that only a fraction of our members “if we could be the perfect association for real estate engage and become involved may not have anything professionals, what would we do that would give you to do with whether or not we have a wide offering of a reason to engage?”. Is a young professional looking programs, initiatives, and services. for something different from the association than the In the current world in which we live, the seasoned and experienced veteran member? With a distractions and competition for our members’ rapidly changing real estate industry, do we need to time and attention are innumerable. If we are going offer new tools and support to members we’ve never to get their attention and a piece of their time, we contemplated? My belief is that the answers are out better be “selling” something awesome and that they there and our members will be eager to tell us how absolutely NEED. Just as important as the product we can continue to strive to be the most effective offering, however, is the language we use to convey trade association anywhere.
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HOUSING STATS
The Kentucky Seller’s Market Rolls On BY PAUL DEL RIO
KYR Director of Communications
T
he confounding housing market we are living through may likely be referred to by a unique moniker in a few years: “The great inventory shortage of ’20 & ‘21”? “The post-pandemic price boom”? “The Covid Crescendo”? Your guess is as good as ours. One thing remains fairly certain, however, once the market moderates and corrects, we aren’t likely to see these kinds of sales volume figures for years to come. 2021 year-to-date (through April) sales volume is up 28% over 2020 and 39% over 2019. Obviously, this means different things for different people. More volume = more commissions (good). More closings = less inventory (bad). There are many ways to spin this market. The bottom line is it won’t be sustainable. Something must give. Sales will slip and prices will eventually moderate. Kentucky home sales through April of this year reached 16,417 units sold. Looking at the sales numbers for 2020 and 2019; the
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figure of closings YTD though April accounted for about 25% of the sales count for the entire year. Applying that logic would put the current year’s sales pace at over 65,000 homes sold. The record in Kentucky was set last year at just over 56,000. If the market predictions hold true, we may very well set another high-water mark in 2021. Whether due to an increase in new construction or sellers beginning to feel like they may have options if they decide to list, REALTORS® are anticipating the return of inventory to the market. “According to the most recent Kentucky REALTORS® Opinion Survey, 40% of respondents anticipate an increase in inventory and 39% anticipate an increase in the pace of new listing activity over the next twelve months”, said KYR President Charles Hinckley. “Confidence is growing that the tide will turn, and more homes will be added to the market.”
Kentucky REALTORS® would like to offer a special thanks to those conscientious realtors that participate in the KYR Realtor Opinion survey issued each month. When you do this, you allow KYR to be the voice of real estate in Kentucky. This means not only reporting current market conditions and housing statistics from previous months, but also looking ahead to what consumers can expect from the market in the coming months. Look for emails each month (and social media posts in the private Facebook group) encouraging participation in the survey. Here is a look at the survey report for April 2021. The HousingIQ/Kentucky REALTORS® Confidence Index is a
HousingIQ / Kentucky REALTORS®
CONFIDENCE INDEX
52.2
-3.8
April 2021
composite measure that captures Kentucky REALTOR® expectations about the housing market over the next twelve It is derived from three sub-indices – PriceIndex Expectation Themonths. HousingIQ/Kentucky REALTORS® Confidence is a composite Index, Buyer Power Index, and Homeowner Stress Index. A measure that captures Kentucky REALTOR® expectations about the value of 50 corresponds to respondents anticipating no change housing market over the next twelve months. It is derived from in market conditions over the next twelve months. A value of three – Price Buyer Power Index, and 100sub-indices corresponds to allExpectation respondentsIndex, agreeing that market conditions Stress will improve. Homeowner Index. A value of 50 corresponds to respondents
anticipating no change in market conditions over the next twelve months. A value of 100 corresponds to all respondents agreeing that market conditions will improve.
48% of respondents expect higher sales volume in the next twelve months.
+1
The Price Expectation Index reflects respondents’ perception of future home price trends. A value of 50 corresponds to respondents anticipating current trends to sustain over the next twelve months and a value of 100 corresponds to all respondents anticipating an improvement in price appreciation.
The Buyer Power Index gauges the balance of bargaining power between buyers and sellers. A value of 50 corresponds to the current trend sustaining whereas a value of 100 corresponds to all respondents agreeing that the power would shift to the buyer within the next twelve months.
The Homeowner Stress index measures the unfavorable financial situation of homeowners. It is derived from questions that measure the anticipated change in distressed sales, delinquencies, etc. A value of 50 corresponds to respondents anticipating no change from the current situation and a value of 0 corresponds to all respondents agreeing that homeowner situation will improve within the next twelve months.
All change values are month-over-month.
Kentucky REALTORS® | 29
Explore the New RPR By Emily Line, RPR Vice President of Member Experience
R
EALTORS Property Resource® now has a refreshed user experience. Redesigned from top to bottom, the platform boasts a more modern look, feel, and functionality. The site—which offers comprehensive data, powerful analytics, and client-friendly reports, exclusively for NAR members—made many of its latest updates with commercial members in mind.
You Asked, RPR Listened In one-on-one testing and group meetings, RPR users said they wanted a dashboard style of navigation and an easier, more streamlined way to find their saved items and past searches. The new RPR homepage delivers on these asks, with an approach built around the user’s regular routine. From the homepage, RPR users can take shortcuts to tools and features, as well as customizable “My Markets” with quick access to property hot sheets. Simply put, users can now get more done with fewer clicks. In addition, you can now access any property from one search bar. Simply toggle from “Residential” to “Commercial,” and the search settings change accordingly. You can access more than 900,000 active commercial listings from partners such as Biproxi/OfficeSpace.com, Brevitas, CREXi, Catylist, and TotalCommercial.com. Plus, with RPR you can access public record information on off-market commercial properties—56 million properties in all. The new RPR offers commercial users: • Shortcuts: Take guided tours of business-building features such as prospecting, mapping insights, reporting, investor analysis, opportunity zones, and comp lists. • Smoother navigation: Locate the tools you need from anywhere in the site using the main navigation. For example, need quick access to Commercial Site Selection? It's in a dropdown menu, under the Research tab. • Market activity mapping: Monitor selected geographies and properties daily to keep an eye out for client opportunities. Once you set up My Markets, they’ll be displayed when you log in to your RPR account.
• Streamlined saves: Saved searches, properties, and listings are now easy to find and retrieve. • Helpful details: Access partner resources, including national listing platforms, from property details pages.
Real-World Application The site provides video tutorials and on-demand webinars to help you become an expert user. Gail Clements of Southport, N.C., was already a regular RPR user when she started doing research on Opportunity Zones. She stumbled onto RPR’s “Opportunity Zones Tips and Tricks” webinar and was able to quickly apply what she learned. She located properties using RPR maps, connected with owners via the RPR mailing labels feature, and presented the properties to investors using RPR reports. “I received an immediate response,” says Clements, who works in residential, commercial, and land sales. Her story is a textbook example of how to use RPR to impress your commercial and investor clients. Get started today at narrpr.com.
No Added Cost Access to RPR is a benefit of your membership in the National Association of REALTORS®. Beyond your member dues, there’s no cost to use the site or access any of the tools. And now, through March 1, 2022, members of the CCIM Institute, Counselors of Real Estate, Institute of Real Estate Management, Society of Industrial and Office REALTORS®, and REALTORS® Land Institute who belong to NAR as Institute Affiliate members have access at narrpr.com. 30 | kyrealtors.com
CALENDAR
KYR Meetings Update The COVID-19 pandemic has caused many organizations to revisit, re-plan, and modify the way that they come together to get business done. Kentucky REALTORS® is no different. KYR staff and leadership are monitoring pandemic guidance to determine whether scheduled meetings should be modified or cancelled. Here is an update on the meeting schedule for 2021. As of printing, the guidance is loosening, and the mask mandates and capacity restrictions are scheduled to be lifted in mid-June. This should allow all future in person meetings to continue as scheduled. Of course, if things change, we will make necessary modifications. The current meeting schedule is as follows:
KYR Summer Retreat
French Lick Resort (French Lick, IN) June 28-30, 2021
KYR Annual Convention
Northern Kentucky Convention Center/Cincinnati Marriott at RiverCenter (Covington, KY) September 27-30, 2021
2022 Leadership Meeting
Marriott Griffin Gate Resort (Lexington, KY) December 5-9, 2021
It is our mission to serve our membership the best we can, and that means keeping connected and focusing the membership on our shared goals.
R E A L TO R S ® COMMITMENT TO E X C E L L E N C E
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2021 KYR Convennon & Expo
Marrioo RiverCenter | Covington, KY September 27-30, 2021 32 | kyrealtors.com
