ELEVATE Magazine - RASM - February 2024 by REALTOR® Association of Sarasota and Manatee

February 2024

2024

CREA President, Ben Bakker: Enthusiastic For aon Second CREA Takes 2024 Term Leadership Ben Bakker withofPresident 6

SPONSORED BY

2024 WOMEN’S LEADERSHIP SUMMIT

THURSDAY, MARCH 07 8:30 AM - 4:30 PM | RASM SOUTH

HOST

SPEAKER

TICKETS $75

Christine Hansen

Gia Arvin

Erin Watson

Broker-Owner of Century 21 Hansen Realty

2024 President Florida REALTORS ®

Director of Client Experience Game On Nation

B R O K E R R O U N D TA B L E

Candidate for NAR 2025 First Vice President

RASM is celebrating Women’s History Month in partnership with the WCR Manatee County and the WCR Sarasota with this retreat-style leadership summit for emerging female Sherry Grooms

Michael Saunders

leaders in real estate.

Questions? Leah Desare, Director of Events 941-952-3415 | leah@myrasm.com

Leslie Wells

Toni Zarghami

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20 YEARS

Contents FEBRUARY 2024

10 12

Professional Standards Realtor® Attorney Joint Committee

RASM REALTORS® Charitable Foundation

16 Government Affairs 17 Market Analysis 23 Global Business Council 24 Young Professionals Network

COVER STORY

2024 CREA President Ben Bakker

Ben Bakker proudly resumed the position of President for the Commercial Real Estate Alliance (CREA) for 2024, marking his second term in recent years. Ben’s exceptional leadership as the 2022 CREA President paved the way for his notable return to the helm in 2024, a testament to his outstanding performance and unwavering commitment to this honorable role. Ben truly stands out as a seasoned commercial real estate professional, boasting a comprehensive track record in sales, leasing, and client relations. After a decade with Michael Saunders & Company, where he was an award-winning top sales advisor, Ben launched a new full-service commercial brokerage in Manatee County called NDC Commercial Real Estate. A lifelong resident of Bradenton, Ben brings a wealth of experience and enthusiasm to his second tenure as 2024 CREA President.

Commercial vs. Residential

Agents looking to become involved in commercial transactions should be aware of and should consider the differences from a residential transaction.

4 | ELEVATE [ FEBRUARY 2024 ]

Global Market Opportunities Global real estate is an exciting niche market offering a multitude of opportunities. Engaging in outbound transactions not only enhances local dealings but also unlocks doors to referral opportunities.

Neighborhood Spotlight

Professional Development Committee

32 35

Calendar of Events Membership News

Property Management

Keeping up with Florida law is very important in the property management business. In 2023, Florida had significant amendments to its rental laws, impacting both landlords and tenants.

Photography by Michael Devaney, SRQ Headshots.

PRESIDENT UPDATE

Great American Realtor® Days Recap: Advocacy, Progress, & Future Initiatives RASM South - 2320 Cattlemen Road Sarasota, FL 34232 RASM North - 2901 Manatee Ave W Bradenton, FL 34205 Phone: 941-952-3400 FAX: 941-952-3401 www.MyRASM.com

STAFF CONTRIBUTORS: Vice President of Operations & IT: Jesse Sunday Vice President of Advocacy & Member Programs: Maxwell Brandow Communications Director: Brandon Gay Member Services Director: Jessica Montague Professional Development Director: Denise Ricciotti Communications Manager: Kristen Oriente Magazine Editor: Beth Sunday

2024 ASSOCIATION OFFICERS: President: Tony Barrett, Barrett Realty, Inc. President-Elect: Debi Reynolds, Florida SunCoast Real Estate Vice President: David Crawford, Catalist Realty LLC Treasurer: Anita Lambert, Premier Sothebys Int’l Realty Immediate Past President: Brian Tresidder, William Raveis Real Estate Chief Executive Officer: Jeff Arakelian

MISSION STATEMENT: Empower and engage our REALTOR® Community by delivering essential services, resources, education, and experiences that elevate member success and professionalism, while advocating for REALTOR® initiatives and private property rights.

VISION STATEMENT: We are an innovative and relevant association that elevates the standards of professional excellence, and are critical to our members’ success, while providing value to our community.

SUBSCRIPTIONS: The annual dues of every member of the REALTOR® Association of Sarasota and Manatee, Inc., includes a one-year digital subscription to ELEVATE Magazine. 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 REALTOR® Association of Sarasota and Manatee, Inc. All submitted copy is subject to editing. 2024 Copyright© by the REALTOR® Association of Sarasota and Manatee, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited. For information on advertising and article submissions, contact Beth Sunday, Magazine Editor, at 941-9523417 or email Beth@MyRASM.com.

By: Tony Barrett, 2024 RASM President

he dawn of the new year witnessed an inspiring start as a group of dedicated Realtors® embarked on a journey to Tallahassee for Great American Realtor® Days. Battling through cold temperatures, tornado warnings, and gusty winds, their presence demonstrated the resolute commitment of Realtors® to fervently advocate for their profession. In the heart of Tallahassee, Realtors® engaged in meaningful discussions with top legislators. Conversations revolved around pressing issues such as taxes, insurance, personal property rights, and transparency within the real estate industry. The substantial support received during these dialogues reaffirmed that legislators are attuned to the concerns and needs of consumers. Noteworthy progress was reported on the Hometown Heroes program, which has secured $236 million for down payment assistance, aiding 14,000 first-time homebuyers in realizing their dream of homeownership. The commitment to this initiative remains strong, with an additional $100 million allocated for 2024. Proposed changes to estoppel fees also offer a positive outlook for customers, with ongoing efforts to eliminate these fees and servicing charges. As we enter hurricane season, the My Safe Florida Program secured $100 million in funding, with an additional $7 million earmarked for administrative costs. This financial injection aims to further fortify homes in Florida against the devastating impact of hurricanes. Excitingly, seven new insurance companies entering the Florida market promise increased competition, fostering optimism for potential reductions in insurance premiums. At RASM, an exciting development comes in the form of the Presidential Advisory Group (PAG), which was formed to introduce a diversity committee to the association. The PAG has generated innovative ideas, including a comprehensive definition of diversity. Anticipated to launch in the second half of 2024, this committee reflects a commitment to embracing diversity in its multifaceted forms. As the Mid-Winter Meeting in Orlando draws to a close, various hot topics have been discussed to enhance the way Realtors® conduct business. The visible dedication of volunteers at these meetings underscores the profession’s unwavering commitment to continuous improvement. Proud of the achievements and progress made, the association remains devoted to placing its members at the forefront of all endeavors (members 1st). The commitment to showcasing the value of real estate professionals is unwavering. For further information or to share thoughts, members are encouraged to reach out via email at president@myrasm.com or by my direct line at 941-812-7983. In the dynamic landscape of real estate, the journey to Tallahassee and the ongoing initiatives signal a promising year ahead for Realtors® and their indispensable contributions to the industry. • myRASM.com | 5

COVER STORY

2024 CREA President, Ben Bakker:

Enthusiastic for a Second Term of Leadership

en Bakker proudly resumed the position of President for the Commercial Real Estate Alliance (CREA) for 2024, marking his second term in recent years. Ben’s exceptional leadership as the 2022 CREA President paved the way for his notable return to the helm in 2024, a testament to his outstanding performance and unwavering commitment to this honorable role. Ben truly stands out as a seasoned commercial real estate professional, boasting a comprehensive track record in sales, leasing, and client relations. After a decade with Michael Saunders & Company, where he was an award-winning top sales advisor, Ben launched a new full-service commercial brokerage in Manatee County called NDC Commercial Real Estate. A lifelong resident of Bradenton, Ben brings a wealth of experience and enthusiasm to his second tenure as 2024 CREA President. “The chance to serve again in a leadership role like this is very humbling, and not something that I take

6 | ELEVATE [ FEBRUARY 2024 ]

lightly,” said Bakker. “During my first term as President, I was committed to launching a new business and a new brokerage as I was also learning the ropes as CREA president. I am thrilled now to be able to take what I’ve learned as President in 2022 and embark on another year with a fresh perspective and energy to promote CREA even further. It’s a huge honor to know that I’m trusted amongst my peers to serve as President again of this remarkable organization.”

MISSION AND OBJECTIVES For more than 30 years, the commercial division at RASM has brought together commercial real estate professionals to be the leader in our marketplace by promoting business development. CREA’s mission is to be the leader in the commercial marketplace by promoting professionalism to their membership through education, communications, and business development.

Photography by Michael Devaney, SRQ Headshots.

CREA’S OVERALL OBJECTIVES:

To unite those engaged in commercial real estate activities for the purpose of exerting a beneficial influence on matters affecting the profession and related interests. To promote commercial real estate business activity among members. To provide members the opportunity to better serve the public through education in commercial real estate on a continuing basis.

CREA GOALS FOR 2024 Ben is dedicated to fostering the future growth of CREA in the upcoming year by leveraging the group’s existing strength and momentum. “My goals for CREA this year are to continue to grow the membership base,” said Bakker. “We have been doing a stellar job of educating our valued commercial practitioners with helpful industry knowledge, and giving them a great deal of tools, resources, and networking opportunities to further their business. I’m very proud of the programming we’ve offered over the past few years, and I’m looking forward to enriching our programs even further.” Ben is also focused on maintaining and nurturing a symbiotic relationship between RASM residential and commercial Realtors®. “Residential agents have numerous opportunities to attend CREA events and are warmly welcome to join us at any time,” said Bakker. “Attending CREA events is a great way for residential agents to gain insights into the commercial side of the industry so they can be better equipped when a commercial situation arises. CREA is here to support our residential counterparts. We are an additional tool to help serve their residential clients, and we never want a residential client to feel uncertain about referring a client who needs commercial expertise. We want our residential agents to feel confident that they have a trusted ally who is equally committed to meeting the needs of their clients.”

PLANS FOR 2024 CREA is deep into the planning stages for the year, bringing back crowd-pleasers such as their successful “Lunch and Learn” series, weekly “CREA Marketplace” meetings, and renowned networking events like Downtown Horizons as well as the exceptionally popular Clay Shoot. Additionally, CREA is actively engaged in brainstorming new ideas to enrich their offerings further. “We carefully listen to the feedback and needs of our members, and what we’re hearing is the desire to continue with the tried-and-true favorites while also exploring fresh and new subjects,” said Bakker.

JOIN CREA AND GET INVOLVED CREA has a strong membership of over 300 professionals who are active in the commercial real estate market. Their membership includes commercial brokers and salespersons, lenders, attorneys, insurance agents, and professionals involved in all aspects of the business. The organization offers something for everyone. “I genuinely can’t recommend joining CREA enough,” said Bakker. “Everyone who wants to learn and grow in this market is warmly welcomed, and if you want to have your finger on the pulse of the commercial market, CREA is where you need to be. CREA is the essential hub. It’s a great way to make valuable, life-long connections and friendships, and get more involved in the commercial industry in our MSA. We, as a group of dedicated professionals, take pride in fostering a collaborative and dynamic environment.”

[ Continued on page 8 ]

myRASM.com | 7

Ben recommends not only joining CREA but also diving into a committee or a leadership role. “There are numerous ways to get involved in CREA,” added Bakker. “We offer different levels of involvement, such as joining one of our many committees or becoming a board member. Our members are some of the most genuine people I know, and always ready to lend a hand, ensuring no one bears too heavy a weight to carry on their own.”

COMMERCIAL OUTLOOK While the future remains uncertain, Ben has an optimistic outlook for the commercial market in 2024. “Last year posed numerous challenges in commercial real estate following the boom of 202122. We experienced a decline in activity attributed to inflation, compounded by rising insurance rates. We also had to adjust our expectations as we saw a slowdown of people migrating to Florida. I believe this year will mark a return to a more ‘normal’ environment, no longer a ‘boom’ but a more typical market. But overall, I am optimistic about 2024, even with a wildcard thrown into the mix due to it being an election year. But we are seeing stabilized supply chains, and interest rates decreasing, so those are all healthy signs.” In addition, Ben credits the RASM Political Action Committee for working tirelessly to advocate for insurance reform, which will continue to contribute to a healthy commercial market. “The RASM Political Action Committee has worked tirelessly in their advocacy efforts to ensure our industry continues to push forward,” added Bakker. “Although I don’t have a crystal ball, I believe the future of the commercial real estate industry looks bright, and I am thrilled to assume the role of CREA President once again. Trying to enhance something that is already exceptional presents a distinctive challenge. However, I am enthusiastic about what we can accomplish together, and my objective is to leave CREA in a better state than when I began.”

8 | ELEVATE [ FEBRUARY 2024 ]

UPCOMING EVENT 2024 COMMERCIAL ECONOMIC UPDATE Tuesday, February 20

11:30 a.m. - 1:00 p.m.

[ South ]

For more information on the commercial market, please join CREA for the annual market and economic update and dive into the trends and headwinds impacting commercial real estate fundamentals in the greater Sarasota area. The event is free for CREA members and $5 for non-members. To view the newly installed 2024 CREA Officers and Directors, see the article on page 22. •

Photography by Michael Devaney, SRQ Headshots.

BUSINESS PARTNER SPOTLIGHT

Suncoast One Title & Closings, Inc By: Karen Peterson, Licensed Title Agent, Closing Manager, Suncoast One Title & Closings, Inc.

ith over 30 years of experience in the title insurance field, I am sensitive to the needs of you and your clients. Whether you require residential, commercial, 1031 exchange, or foreclosure expertise, I am ready to partner with you to ensure a successful closing! Growing up on a farm in the upper Midwest taught me compassion and a great work ethic. With my family still in Minnesota, I go back every year to visit my mom, daughter, and three grandsons. They also love visiting each Spring Break to enjoy the Florida sunshine!

I enjoy finding flexible and creative solutions to title concerns, and years of practice have made it second nature for me. Partnering with me at Suncoast One Title & Closings means your files will close on time, and you and your clients will be protected. I look forward to a productive working relationship with you! See you at the closing table! •

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PROFESSIONAL STANDARDS

Obligation to Ascertain Pertinent Facts By: National Association of REALTORS® Interpretations of the Code of Ethics Agreement Case 2-4: (Revised Case #9-10 May, 1988. Transferred to Article 2 November, 1994.)

hortly after Realtor® A, the listing broker, closed the sale of a home to Buyer B, a complaint was received by the Board charging Realtor® A with an alleged violation of Article 2 in that he had failed to disclose a substantial fact concerning the property. The charge indicated that the house was not connected to the city sanitary sewage system, but rather had a septic tank. In a statement to the Board’s Grievance Committee, Buyer B stated that the subject was not discussed during his various conversations with Realtor® A about the house. However, he pointed out that his own independent inquiries had revealed that the street on which the house was located was “sewered” and he naturally assumed the house was connected. He had since determined that every other house on the street for several blocks in both directions was connected. He stated that Realtor® A, in not having disclosed this exceptional situation, had failed to disclose a pertinent fact. Realtor® A’s defense in a hearing before a Hearing Panel of the Professional Standards Committee was:

1 | that he did not know this particular house was not connected with the sewer;

2 | that in advertising the house, he had not represented it as being connected;

3 | that at no time, as Buyer B conceded, had he orally stated that the house was connected;

4 | that it was common knowledge that most, if not all, of the houses in the area were connected to the sewer; and

5 | that the seller, in response to Realtor® A’s questions at the time the listing was entered into, had stated that the house was connected to the sewer. The panel determined that the absence of a sewer connection in an area where other houses were connected was a substantial and pertinent fact in the transaction; but that the fact that the house was not connected to the sewer was not possible to determine in the course of a visual inspection and, further, that

10 | ELEVATE [ FEBRUARY 2024 ]

Realtor® A had made appropriate inquiries of the seller and was entitled to rely on the representations of the seller. The panel concluded that Realtor® A was not in violation of Article 2. •

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Broker participation is welcomed and encouraged. ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. This project has been filed in the state of Florida and no other state. This is not an offer to sell or solicitation of offers to buy the condominium units in states where such offer or solicitation cannot be made. Prices and availability are subject to change at any time without notice.

REALTOR® ATTORNEY JOINT COMMITTEE

Three Differences Between Commercial and Residential Transactions By: Ben Sorrell, Esq., Attorney, Shutts & Bowen LLLP

gents looking to become involved in commercial transactions should be aware of and should consider the differences from a residential transaction.

COMMERCIAL VS. RESIDENTIAL TRANSACTIONS This article is intended to provide a brief overview of what I believe are the main differences between a commercial transaction and a residential transaction: 1 | The duty to disclose; 2 | Due diligence; and 3 | Tax matters

IMPORTANCE OF DUE DILIGENCE The most significant difference between a residential and commercial deal is that commercial sellers do not have an affirmative duty to disclose any defects with the property.* Thus, a prudent commercial buyer will include a list of desired representations and warranties it would like a seller to make. Commercial buyers will rely heavily on these representations and warranties to gain valuable information about the property. In negotiating the contract, if a seller is unwilling to make a certain representation or warranty, this should raise a red flag for the buyer and, if the buyer proceeds with signing the contract, should be thoroughly investigated during the due diligence period. Accordingly, due diligence is a critical time period in a commercial transaction. Commercial buyers will usually perform numerous tests and analysis of the property, such as a Phase I or II environmental assessment, geotechnical studies, zoning analysis, and other inspections. For commercial property with tenants, due diligence is the time to assess the financial viability and desirability of the tenants and the leases, which will survive the purchase. Due diligence is also the time for the buyer to determine which aspects of the deal it will be able to achieve. For example, can the property be used how buyer intends, will the buyer be able to obtain needed governmental approvals or permits, or are there easements or other resections preventing development? If the buyer cannot satisfy 12 | ELEVATE [ FEBRUARY 2024 ]

itself that it will be able to ultimately develop or use the property as it intends prior to closing, it should terminate the contract. Additionally, to protect the parties after the expiration of the due diligence period from pre-closing uncertainties and to ensure the parties dutifully work towards closing (which may not occur for several months), commercial contracts generally have a list of specified conditions that must be satisfied or occur prior to closing. If these enumerated conditions are not satisfied, the buyer generally (unless it is in breach) will be entitled to terminate the contract and receive a return of the deposit.

TAX CONCERNS Lastly, commercial transactions frequently involve federal and state tax matters. For example, the Internal Revenue Code may require an allocation of the purchase price to items such as goodwill, tangible personal property, land improvements, and non-compete agreements. The allocation will have implications for ad valorum tax and documentary stamp tax matters as well. For more information on this subject, join us at RASM North on March 18 for Breaking It Down: How Commercial Contracts Differ from Residential. • “Although the doctrine of caveat emptor was abolished in *residential real estate transactions, Johnson v. Davis, 480

So.2d 625 (Fla. 1985), this court has specifically found that Johnson did not extend a duty to disclose to commercial transactions, and thus did not change the long line of case law establishing caveat emptor as the rule in the sale of commercial property.” Wasser v. Sasoni, 652 So. 2d 411, 412 (Fla. 3d DCA 1995). This article is meant for educational purposes only. It is not intended to serve as legal advice and should not be used as a substitute for consultation with an attorney.

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RASM REALTORS® CHARITABLE FOUNDATION (RRCF)

RASM Leadership Academy Applications Open By: Denise Ricciotti, RASM Professional Development Manager

re you ready to unlock your leadership potential? RASM’s Leadership Academy is a rigorous program designed to train emerging Realtor® leaders who want to get involved, make a difference, grow their businesses, and expand their leadership skills. Leadership skills are the cornerstone of a successful career in any industry. Whether your goals are to lead a committee or an organization, the Leadership Academy will empower you to meet your leadership potential. Participants are immersed in a classroom setting and group sessions focusing on team building, goal setting, networking techniques, and communication skills.

ABOUT THE ACADEMY RASM’s Leadership Academy equips aspiring leaders with the knowledge, insights, and strategies to inspire and guide their teams toward excellence. PROGRAM HIGHLIGHTS

Team Building Workshop Communicating Clearly & Art of Conversation Empowerment Workshop Mentorship From Past Graduates

MAKE THE COMMITMENT Whatever your goals may be, one thing is common among all graduates: they don’t regret it! You can expect to dedicate at least 6-8 hours a month to the program. The program begins in April and ends at graduation in September. After submitting applications, a select group of applicants will be asked to interview. The Leadership Academy Committee will make the final selection with a limit of 20 Realtor® participants. Applications are due on March 1, 2024. Learn more and apply at myrasm.com/leadership-academy. •

Reach Further by Being a Leader. Improve your communication skills, collaborate with like-minded agents and grow your business with the guidance of a mentor.

Applications due on March 1.

CLICK HERE TO LEARN MORE 14 | ELEVATE [ FEBRUARY 2024 ]

SAVE THE DATE FEBRUARY 08 W

6 PM - 8 PM

SOCIAL EVENT

APPLY HERE

SCHOLARSHIPS 2024 SCHOLARSHIP APPLICATIONS DUE MARCH 29

myRASM.com | 15

GOVERNMENT AFFAIRS

RASM Members Travel to the Capitol to Fight for the Industry By: Max Brandow, RASM Vice President of Advocacy and Member Programs

his past month, over 25 RASM members drove up to the State Capitol in Tallahassee for the annual Great American REALTOR® Days. This trip allows our members to get into the offices of lawmakers in Florida and advocate for Realtor® priorities during the legislative session.

FOCUS ON HOMEOWNERSHIP PROGRAMS This year, members were talking with lawmakers about increasing funding for homeownership programs like My Safe Florida Home and the Hometown Heroes programs. Both programs were wildly successful in years past, and we want to make sure more funding is on the way for your clients. Lawmakers have seen the success of the program, in part due to RASM member testimonials, and we’re confident more money is likely to be directed into those programs.

CONDOMINIUM & HOA REFORMS We also lobbied for condominium and HOA reforms that will allow you and your clients a more seamless transaction process when doing deals in condos and HOA’s. We have heard from numerous members how cumbersome the process is when trying to find important documents and information pertaining to Condos and HOA’s, and we’re working with the Florida Legislature to streamline that.

BUSINESS RENT TAX Another priority for Florida REALTORS® this session is the potential elimination of the Business Rent Tax (BRT) in Florida. The tax will eventually drop to 2% this year, but as Florida is the only state in the nation with a tax on commercial leases, we will continue to fight for the complete elimination of the tax, and we are seeing positive signs on that front. Be on the lookout come budget season to see any news on potential BRT reductions.

16 | ELEVATE [ FEBRUARY 2024 ]

RASM Key Contact Barry Grooms hosted a meeting with Senator Boyd and RASM members at GARD.

FLORIDA INSURANCE MARKET In addition to the above priorities, we also discussed continued monitoring of the Florida insurance market. The legislature did a lot of heavy lifting last session on insurance, and we are currently seeing new insurers enter the market, Citizens Property is beginning to depopulate, and litigation is slowing down. Even so, we still made sure to thank our lawmakers and remind them to keep their foot on the gas when it comes to insurance, monitoring the effectiveness of prior reforms and exploring additional remedies to speed up insurance stabilization.

ELECTION YEAR REMINDERS With some states already voting in Presidential Primaries, it’s a good time to make sure your voter information is up to date before ballots start going out later this year. Realtors® are known to consistently be one of the most reliable voting blocs in America, and we want to keep it that way. If you are unsure of your voting status, head over to these websites to check your voter registration:

Manatee County: https://www.votemanatee.com/

Voter-Information/Voter-Status-Information-CheckYour-Registration-Status Sarasota County: https://www.sarasotavotes. gov/Voter-Information/My-Voter-Status Also, be on the lookout over the coming months as RASM rolls out endorsements for 2024 Realtor®friendly candidates! •

MARKET ANALYSIS

Balancing Act: Insights into the 2023 Housing Market of Sarasota and Manatee Counties By: Brandon Gay, RASM Communications Director

he 2023 housing market for Sarasota and Manatee counties are showing signs of stabilization, marked by a return of housing inventory to pre-COVID levels. A crucial metric to assess the housing market’s state is the Months’ Supply of Inventory (MSI). According to Florida REALTORS®, a balanced market (favoring neither buyer nor seller) has an MSI of 5.5 months, signifying the estimated time to deplete current inventory at the existing sales rates. MSI in Sarasota increased 76 percent to 4.4 months for single-family and 136.4 percent to 5.2 months for condos, the highest since 2018. Manatee County saw a 10 percent increase to 3.3 months for single-family and a 70.4 percent increase to 4.6 months for condos. Indicators like MSI suggest a shift in Sarasota and Manatee County housing markets, moving away from a seller’s advantage. Buyers now have a broader range of options and may not be as inclined to forgo contingencies or offer above the asking price, as observed in recent years. With median prices remaining at a record high, sellers can still potentially secure top dollar for their homes. However, the process might take a bit longer, and buyers may be less willing to waive contingencies, such as inspections, in the current environment. “We are seeing good adjustments in this market that will benefit both buyers and sellers going forward,” said Tony Barrett, 2024 RASM President and Broker/Owner at Barrett Realty. “The days on the market have increased, along with inventory and we are starting to see buyers having a little more flexibility in negotiations.”

YEARLY MARKET IN 2023 The total number of closed sales across the two counties in 2023 decreased by less than one percent to 21,760 sales. For single-family homes, yearly closed sales decreased from 2022 by 4.2 percent to 7,608 sales in Sarasota County and increased by 7.3 percent to 7,480 sales in Manatee County. Condo sales decreased by 6.7 percent to 3,830 sales in Sarasota and decreased by 0.8 percent to 2,846 sales in Manatee County. The median sale price for 2023 surpassed the previous record reached in 2022 for condos in Sarasota and Manatee. The yearly median price for Sarasota condos was $410,000 and $363,620 for Manatee condos, a year-over-year increase of 6.5 percent and 5 percent respectively. For single-family homes, the median price for 2023 increased by 4.5 percent to $515,000 in Sarasota and decreased by 2.1 percent to $509,240 in Manatee County. The median time to contract increased significantly from 2022. In Sarasota County, the median time to contract for single-family homes increased by 200 percent to 27 days and increased by 250 percent to 28 days in the condo market. For single-family homes in Manatee County, the

median time to contract increased by 266.7 percent to 33 days and increased by 350 percent to 36 days for condos. The dollar volume in 2023 increased year-over-year for both property types in the North Port-Sarasota-Bradenton MSA. Single-family homes brought in $10.3 billion in volume for the two counties, a 1.8 percent increase from the previous year. The dollar volume of condo sales increased by 4.3 percent to $3.6 billion. Cash sales decreased in 2023 for both property types in the two-county region. For single-family homes, yearly cash sales decreased by 10.6 percent in Sarasota County and decreased by 4.9 percent in Manatee County. In the condo market, cash sales decreased by 8.4 percent in Sarasota and by 5.8 percent in Manatee. Across both counties, new listings added to the market in 2023 decreased for single-family homes but increased for condos. For single-family homes, 19,117 new listings were reported, a 1.9 percent decrease from 2022. For condos, new listings increased by 13 percent from 2022, with 9,472 new listings added to the market. DECEMBER MARKET IN 2023 In the last month of 2023, the combined closed sales of all property types in both counties increased year-over-year by 5.8 percent to 1,619 sales. For single-family homes, closed sales increased by 6.6 percent to 518 sales in Sarasota County and by 13.6 percent to 610 sales in Manatee County. Condo sales increased by 15.6 percent to 318 sales in Sarasota and decreased by 25.4 percent to 173 sales in Manatee. December 2023 reports a year-over-year rise in prices across all markets except for single-family homes in Manatee County. In the condo market, the median sale price was $468,933 for Sarasota condos and $350,000 for Manatee condos, an increase of 20.2 percent and 1.6 percent respectively. For single-family homes, the median sale price increased by 2.7 percent to $519,000 in Sarasota and decreased by 1.4 percent to $499,900 in Manatee. The median time from listing date to contract date was reported at 35 days for single-family homes in Manatee, an increase of 29.6 percent, and 37 days in Sarasota, an increase of 60.9 percent. As for condos, the median time to contract increased year-over-year by 100 percent to 38 days in Manatee County and increased by 21.1 percent to 23 days in Sarasota. The month’s supply of inventory in December was 5.2 months for Sarasota condos, a 136.4 percent increase and the highest supply reported since 2019. There was a 4.6-month supply of Manatee condos, a 70.4 percent increase yearover-year. In the single-family home market, there was a 4.4-month supply for Sarasota homes and a 3.3-month supply for Manatee homes, a year-over-year increase of 76 percent in Sarasota and 10 percent in Manatee. At the end of December, the inventory of all active listings was 7,469 for both property types in the North-PortSarasota-Bradenton MSA, a 54.8 percent increase from the same time last year. Broken down for each property type, there were 4,848 active listings for single-family homes and 2,621 active listings for condos. Monthly reports are provided by Florida REALTORS® with data compiled from Stellar MLS. For comprehensive statistics dating back to 2005, visit www.MyRASM.com/ statistics. • myRASM.com | 17

Monthly Market Summary - December 2023 Single-Family Homes Sarasota County December 2023

December 2022

Percent Change Year-over-Year

Closed Sales

518

486

6.6%

Paid in Cash

229

221

3.6%

Median Sale Price

$519,000

$505,500

2.7%

Average Sale Price

$713,029

$672,688

6.0%

$369.3 Million

$326.9 Million

13.0%

Med. Pct. of Orig. List Price Received

95.6%

96.4%

-0.8%

Median Time to Contract

37 Days

23 Days

60.9%

Median Time to Sale

75 Days

61 Days

23.0%

New Pending Sales

426

425

0.2%

New Listings

667

594

12.3%

Pending Inventory

644

809

-20.4%

Inventory (Active Listings)

2,764

1,682

64.3%

Months Supply of Inventory

4.4

2.5

76.0%

Dollar Volume

1,400

2019

2020

2021

2022

2023

Closed Sales

1,200 1,000 800 600 400 200 0

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D

Median Sale Price

$600K $500K $400K $300K $200K $100K $0K

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D

4,000

Inventory

3,500 3,000 2,500 2,000 1,500 1,000

500 0

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S OND

2019

2020

2021

2022

2023

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18 | ELEVATE [ FEBRUARY 2024 ]

Monthly Market Summary - December 2023 Single-Family Homes Manatee County December 2023

December 2022

Percent Change Year-over-Year

Closed Sales

610

537

13.6%

Paid in Cash

222

181

22.7%

Median Sale Price

$499,900

$507,000

-1.4%

Average Sale Price

$694,847

$610,237

13.9%

$423.9 Million

$327.7 Million

29.3%

Med. Pct. of Orig. List Price Received

97.0%

96.0%

1.0%

Median Time to Contract

35 Days

27 Days

29.6%

Median Time to Sale

83 Days

81 Days

2.5%

New Pending Sales

448

381

17.6%

New Listings

616

527

16.9%

Pending Inventory

614

753

-18.5%

Inventory (Active Listings)

2,084

1,755

18.7%

Months Supply of Inventory

3.3

3.0

10.0%

Dollar Volume

1,000

2019

2020

2021

2022

2023

Closed Sales

800

600 400 200 0

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D

Median Sale Price

$600K $500K $400K $300K $200K $100K $0K

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D

Inventory

3,000 2,500 2,000 1,500

1,000 500 0

J FMAM J J A S OND J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S OND J FMAM J J A S OND

2019

2020

2021

2022

2023

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myRASM.com | 19

Monthly Market Summary - December 2023 Townhouses and Condos Sarasota County December 2023

December 2022

Percent Change Year-over-Year

Closed Sales

318

275

15.6%

Paid in Cash

226

180

25.6%

Median Sale Price

$468,933

$390,000

20.2%

Average Sale Price

$787,762

$570,185

38.2%

$250.5 Million

$156.8 Million

59.8%

Med. Pct. of Orig. List Price Received

97.0%

96.3%

0.7%

Median Time to Contract

23 Days

19 Days

21.1%

Median Time to Sale

64 Days

62 Days

3.2%

New Pending Sales

252

223

13.0%

New Listings

440

310

41.9%

Pending Inventory

449

486

-7.6%

Inventory (Active Listings)

1,662

749

121.9%

Months Supply of Inventory

5.2

2.2

136.4%

Closed Sales

Dollar Volume

800 700 600 500 400 300 200 100 0

2019

2020

2021

2022

2023

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D

Median Sale Price

$600K $500K $400K $300K $200K $100K $0K

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D

Inventory

2,500 2,000 1,500 1,000 500 0

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S OND

2019

2020

2021

2022

2023

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20 | ELEVATE [ FEBRUARY 2024 ]

Monthly Market Summary - December 2023 Townhouses and Condos Manatee County December 2023

December 2022

Percent Change Year-over-Year

Closed Sales

173

232

-25.4%

Paid in Cash

117

-18.8%

Median Sale Price

$350,000

$344,475

1.6%

Average Sale Price

$378,260

$364,057

3.9%

$65.4 Million

$84.5 Million

-22.5%

95.4%

97.8%

-2.5%

Dollar Volume Med. Pct. of Orig. List Price Received

600

2019

2020

Median Time to Contract

38 Days

19 Days

100.0%

Median Time to Sale

76 Days

63 Days

20.6%

New Pending Sales

164

183

-10.4%

New Listings

246

214

15.0%

Pending Inventory

248

282

-12.1%

Inventory (Active Listings)

1,087

648

67.7%

Months Supply of Inventory

4.6

2.7

70.4%

2021

2022

2023

Closed Sales

500 400

300 200 100 0

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D

Median Sale Price

$500K $400K $300K

$200K $100K $0K

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D

Inventory

1,200 1,000 800 600

400 200 0

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S OND

2019

2020

2021

2022

2023

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myRASM.com | 21

RASM NEWS

Commercial Real Estate Alliance Installs 2024 Officers and Directors

he Commercial Real Estate Alliance (CREA) of the REALTOR® Association of Sarasota and Manatee (RASM) installed the 2024 officers and directors at their Installation lunch on Tuesday, December 19. Ben Bakker, with NDC Commercial Real Estate, was installed as the 2024 President of the CREA. Under Ben Bakker’s leadership as President of CREA, the 2024 officers and directors will serve the Alliance by working to improve the knowledge and professionalism of members to build a better commercial property marketplace in Sarasota and Manatee. “I am incredibly honored to have the opportunity to serve a dynamic and influential group of commercial real estate professionals,” said Bakker. “I’m excited for the opportunity that this year will bring to the organization. We have an incredible leadership team who is hard at work putting together a stellar year of programming, networking events, and professional development for our membership.” The newly installed officers are President Ben Bakker, NDC Commercial Real Estate; President-Elect Kyle Hembree, Hembree & Associates, Inc.; Vice President Matt Fenske, SVN Commercial Advisory Group; Treasurer Neil McCurry, Seacoast Bank; and Past President William Wilson, Florida First Capital Finance. The CREA directors serving in 2024 are Jill Bowen, Berlin Patten Ebling, PLLC; Darrin Desmarais, NDC Commercial Real Estate; David Kinnard, Keller Williams Classic Group; Amy MacDougall, CCIM, Ian Black Real Estate, LLC; Angela Varga, Gulf Coast

William Wilson presents award to Barbara Williams.

22 | ELEVATE [ FEBRUARY 2024 ]

Newly installed 2024 CREA Board of Directors attend their Installation at RASM South. From left to right: William Wilson, Amy MacDougall, Ben Bakker, Jill Bowen, Matt Fenske, Barbara Williams, Kyle Hembree, Angela Varga, David Kinnard.

Commercial Group, LLC; and Barbara Williams, Mapp Realty & Investment. At the Installation lunch, 2023 CREA President William Wilson, CCIM, with Florida First Capital Finance, presented this year’s President’s Award to Barbara Williams. “Barbara has been very active with the Alliance and within the community,” said Wilson. “She is giving of her time and exemplifies what it means to be a commercial real estate practitioner. Barbara shows care for her colleagues and their families, and I am honored to present her with this year’s award.” The Commercial Real Estate Alliance is a special interest organization of RASM with more than 300 professionals active in the commercial real estate market, including commercial brokers and salespersons, lenders, attorneys, insurance agents, and professionals. For more information about the Commercial Real Estate Alliance, visit www.myrasm. com/commercial. •

GLOBAL BUSINESS COUNCIL

Global Real Estate: An Exciting Niche Market By: Robin Eekhof, Business Development Manager USA, Moneycorp

lobal real estate is an exciting niche market offering a multitude of opportunities for real estate professionals. Engaging in outbound transactions not only enhances local dealings but also unlocks doors to referral opportunities, expands global networks, and builds a stronger global presence. At the core of every real estate transaction lies the priority of advocating for our clients’ best interests. In global real estate, managing currency fluctuations is a critical factor. Over the years, I’ve actively supported Realtors® in navigating these fluctuations, facilitating win-win solutions for all parties.

VALUE OF CIPS DESIGNATION In light of recent statistics (November 2023) provided by Zola Szerencses, chairman of the CIPS Advisory Board for 2024, a significant shift in outbound transactions among CIPS designees has been observed. A survey conducted across 4,000+ real estate professionals across 50 countries with CIPS designations revealed that outbound second home transactions increased from 22% in 2021 to 28% in 2023, while outbound residential transactions rose from 22% to 27% during the same period. Noteworthy countries where CIPS designees have actively assisted include Mexico, Canada, Costa Rica, France, and Portugal. These statistics show us the diverse and growing opportunities present in global real estate, both inbound and outbound.

PREFERRED DESTINATIONS Portugal has emerged as a preferred destination for Americans looking for a lower cost of living (40% lower than in the USA), a great climate, and enticing residency options. Currently, a 300,000 EUR property costs 327,000 USD. Just two months ago, in November 2023, the EUR/USD was trading at 1.05, and that same property would have cost 315,000 USD. International payment companies not only save clients thousands of dollars compared to traditional banks but also offer the ability to purchase and hold multiple currencies, as well as book forward contracts to lock in exchange rates.

CURRENCY FLUCTUATIONS ABROAD Managing currency fluctuations is a critical element in ensuring the satisfaction of real estate professionals in global real estate transactions. With 2024 being a presidential election year, we are likely to see another wave of Americans looking to settle abroad. Election uncertainty, coupled with market movements, inflation, and interest rate decisions throughout the year, underscores the importance of staying updated. Staying updated can make or break your international closing. For those interested in staying informed about exchange rates, exploring resources like the daily email updates from Moneycorp can be beneficial. These tools offer valuable information that aids in keeping track of currency fluctuations.

STAY EDUCATED AND UPDATED Seminars and conferences offering information on moving and investing abroad are in high demand. The “Fast Track Europe” conference hosted by International Living will be held in Algarve, Portugal, in April 2024. International trade missions are also a fantastic way to grow your global network and better serve your international clients. Whether it is taking a CIPS class abroad or simply visiting a real estate office in another country, growing your contacts and knowledge are vital for success in global real estate. Visit https:// internationalliving.com/events/fast-track-europe-2024/ for more information. •

myRASM.com | 23

YOUNG PROFESSIONALS NETWORK

Meet Your 2024 YPN Leaders

he Young Professionals Network Committee is ready for the new year ahead. We’re excited to see where this group will take us in 2024, so let’s take a minute to meet this energized and dynamic committee.

VICKI HADDOW, CHAIR Realtor® Coldwell Banker

JULIANNA BURNS, VICE CHAIR

Realtor® Berkshire Hathaway HomeServices Florida Realty

BRANDI FURLAN Realtor®, Owner/Operator Furlan Group with Keller Williams

CINDY JARAMILLO Senior Mortgage Loan Officer, Sales Manager Bank of England Mortgage

CATHERINE AGANMAYO

ALINA KIRILENKO

Realtor® Preferred SHORE

Business Development Director Berlin Patten Ebling, PLLC

COY CARTER

JOSHUA LOHER

Realtor®, Broker Associate Preferred SHORE

VP of Mortgage Lending Guaranteed Rate

KAYLE COLEMAN

ELENI MARTIN

Business Development Manager First International Title

Realtor® Coldwell Banker

EMILY EVANS

NICOLAS MORA

Sales Associate Michael Saunders & Company

Principal Broker Streampoint Realty

SARAH FERLAZZO, ESQ.

STEPHANIE SOFFER

Attorney Berlin Patten Ebling, PLLC

Realtor® Living Vogue Real Estate •

MIRIAM FIEBER Realtor® Sarasota Gulf Coast Homes Keller Williams On The Water

24 | ELEVATE [ FEBRUARY 2024 ]

NEIGHBORHOOD SPOTLIGHT

Discover Foxbrook: A Tranquil Haven in Parrish, Florida By: Graham Johnson, CIPS, Director of International Sales, The SRQ Premier Realty Team

estled amidst the numerous housing developments in Manatee County, Foxbrook Subdivision stands out as a serene oasis. Conveniently located off Rutland Rd. with easy access to RT 64 and HWY 301 (Ellenton Mall exit), connecting to the US 75 corridor. Established in 2001, Foxbrook has evolved into a stable multigenerational community comprising of 298 properties with custom-built homes and a few vacant lots. The majority of lots span from 1 to 5 acres, providing residents with ample space to enjoy the peaceful surroundings. One of Foxbrook’s unique features is its opportunity regarding outbuildings - up to 2,000 sq ft are allowed based on lot size. This accommodation is perfect for RV and boat storage, car collections, and horse stables, catering to the varied interests of its residents. A well-run homeowners’ association (HOA) ensures that Foxbrook retains its family-oriented and safe atmosphere. With quarterly fees ranging around $225 to $250, the HOA contributes to maintaining wellkept properties and well-utilized roads, frequented by walkers, bicyclists, and the ubiquitous Florida golf carts.

Beyond its physical attributes, Foxbrook is a friendly community where neighbors actively support one another. Weekly food trucks exclusive to residents create opportunities for socializing, complemented by frequent neighborhood events such as Easter egg hunts, Christmas golf cart parades, and Halloween trunk-ortreats. In addition to its peaceful setting, Foxbrook’s location offers proximity to Florida’s renowned beaches and state parks for outdoor enthusiast, and convenient access to shopping and dining options. The two new healthcare facilities for Parrish add to the allure of this community. The upcoming Mote Science Education Aquarium near the UTC Mall is also an exciting addition to the area. Exploring the Foxbrook Subdivision will quickly reveal its charm. Given its ideal location, robust community spirit, and promising area developments, Foxbrook will be a highly prized place to live. •

18005 COYOTE CREEK CT.

PARRISH, FL myRASM.com | 25

THANK YOU 2023 REALTOR® ADVOCATES RPAC’s Major Investors are an elite and passionate group of REALTORS® and affiliated members whose investments shape the political future of the real estate industry. The REALTOR® Association of Sarasota and Manatee is proud to recognize these members for their investment in the Florida REALTORS® Political Action Committee (RPAC) in 2023.

GOLDEN R ($5,000)

PLATINUM R

GOLDEN R

PLATINUM R ($10,000)

Bill Furst

Barry Grooms

Julia Montei

Mike Bruno

Julianna Burns

CRYSTAL R

GOLDEN R

Commercial Real Estate Alliance

CRYSTAL R ($2,500)

Debi Reynolds

Nathan Butrum

Michelle Crabtree

CRYSTAL R

Denise Oyler

CRYSTAL R

Samira Easton

Anita Lambert

President’s Circle Hall of Fame

($25,000+ lifetime contribution)

Rachel Metcalfe

Amy Worth

REALTOR® Association of Sarasota and Manatee

STERLING R ($1,000)

Barbara Anson

Jeff Arakelian

Marie Avery-Withers

Tony Barrett

Beth Beckert

Jessica Bow

Selina Bradley

Max Brandow

KimberLee Brooks

Pam Charron

David Clapp

Anne Cormier

David Crawford

Peter Crowley

Linda Formella

Monique Geathers

Sherry Grooms

Cindy Jaramillo

Geri Kenyon

Lisa Lasek Tarjanyi

Mark Lee

Brooke Mailloux

Rachel McCoy

Marcia McLaughlin

Tiffany Nisbet

Mary Northrup

Derek Patti

Roger Piro

Vannesa Poole

George Qassis

Glo Reber

Melinda Sanchez

Joseph Suarez

Brian Tresidder

Debbie Urban

Andrew Vac

Tony Veldkamp

Mousa Wakileh

Cassie Yeager

Berlin, Patten, Ebling, Peace of Mind Home Inspections PLLC

WCR Sarasota

Contributions are not deductible for federal income tax purposes. Contributions are voluntary and will be used for political purposes. Contributions are not a condition of membership in the Association and a member may refuse to contribute without reprisal. Seventy percent of each contribution is provided to the Florida Realtors PAC in Florida to support state and local candidates and state and local issues. The balance is sent to the National Association of REALTORS® Political Action Committee and will be charged against your contribution limits prescribed by 52 U.S.C 301106, except when donations are made from corporate funds or are designated cases in which case the balance is provided to the National Association of REALTORS® Political Advocacy Fund for use for federal political purpose.

PROFESSIONAL DEVELOPMENT COMMITTEE

Property Management Highlights & Updates By: Katie Cintron, Realtor®, Coldwell Banker Realty

eeping up with Florida law is very important in the property management business. In 2023, Florida had significant amendments to its rental laws, impacting both landlords and tenants.

Month-To-Month Tenancy Termination

The new change is that landlords must now give tenants at least 30 days written notice of the nonrenewal to terminate. The notice of non-renewal you give must be given at least 30 days prior to the beginning of the next rental period. It used to be 15 days’ notice. Fee Instead Of Security Deposit Landlords may now offer tenants the option to pay a fee instead of the traditional security deposit if the landlord and tenant agree upon it. The tenant has the option to pay the security deposit instead of the fee at any time. The fee is nonrefundable. If a tenant pays a fee instead of the security deposit, the tenant will still owe for damages, rent, or other amounts under the law or the lease after they vacate. Notice To Access The Premises F.S.83.53(2) now requires landlords to give tenants at least 24 hours’ notice to access the premises (not including emergencies). It used to be 12 hours’ notice. State Preemption Over Local Authorities The amendment reinforces state preemption over local authorities in matters related to residential tenancies. This change makes landlord-tenant law and business more uniform, reducing complexities arising from various local city and/or county authorities. Rent Control And Payment Regulations The law prohibits local entities from imposing any form of rent control. Florida continues its stance against rent control. Miya’s Law The law was put into place to strengthen tenant safety and hold landlords accountable for the conduct of their employees. Landlords must run background checks on employees in accordance with the Fair Credit Reporting Act and screen for

28 | ELEVATE [ FEBRUARY 2024 ]

criminal history records and sexual predator and sexual offender registries of all 50 states and the District of Columbia as a condition of employment. The landlord must maintain a log and establish policies and procedures for the issuance and return of all keys for each dwelling or unit, and regulate the storage of and access to all unissued keys. Termination Of Tenancy Without Specific Term The lease agreement requires either party to give written notice to terminate, not less than 30 days prior notice to the end of (quarter to quarter) period or end of (month to month) period, not less than 60 days prior to the end of a (year to year) period and not less than seven days notice prior to the end of any (week to week) period. Multifamily Residential Property Safety and Security; Presumption Against Liability The owner or principal operator of a multifamily residential property which substantially implements the following security measures on that property has a presumption against liability in connection with criminal acts that occur on the premises, which are committed by third parties who are not employees or agents of the owner or operator. Required Security Measures:

1 | Install security cameras at points of entry, lighted parking lots, walkways, and common areas. 2 | At least 1-inch deadbolt in dwelling unit doors. Locking devices on each window, locked gates, peepholes on doors, or door viewers. 3 | By January 1, 2025, the owner or principal operator must have a FL Crime Prevention assessment that is no more than three years old completed on the property and remain in compliance with the assessment. 4 | The owner or principal operator must provide proper crime deterrence and safety training to its employees. For further details, visit www. flsenate.gov/Laws/Statutes/2023/0768.0706 and www.leg.state.fl.us/Statutes./index.cfm. •

This article is meant for educational purposes only. It is not intended to serve as legal advice and should not be used as a substitute for consultation with an attorney.

RASM NEWS

New RASM Team Leader

ntroducing Brandon Gay, the newly appointed Communications Director at the REALTOR® Association of Sarasota and Manatee (RASM). Brandon is a professional whose history is deeply intertwined with the organization. Brandon served as the Communications Coordinator from 2018 to 2021 and briefly explored the marketing department at Wellen Park before being drawn back to the dynamic team and the Realtor® members he had missed. During Brandon’s tenure as Communications Coordinator, he forged meaningful connections with the dedicated staff and Realtors®, recognizing the positive impact the association had on the real estate community. Despite exploring new horizons at Wellen

Park, the pull of RASM remained strong, ultimately leading to his return. Now assuming the role of Communications Director, Brandon aims to leverage past experiences to elevate communication strategies. Believing in the pivotal role of effective communication, he looks forward to collaborating with the dedicated team to enhance outreach, strengthen member connections, and solidify the association’s position as a cornerstone in the real estate landscape. The entire team extends a warm welcome back to Brandon Gay, expressing enthusiasm for the shared journey ahead and the valuable contributions he is poised to make to the growth and prosperity of the REALTOR® Association of Sarasota and Manatee. •

R E A L TO R S ® COMMITMENT TO E X C E L L E N C E

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myRASM.com | 29

2024

PARTNER

FEBRUARY 2 8 | 11 AM - 2 PM FOOD | GRAB BAGS | ENTERTAINMENT | GIVEAWAYS PHILLIPPI ESTATE PARK SARASOTA

PROFESSIONAL DEVELOPMENT

Stay Ahead: NAR Code of Ethics Training Deadline Approaching By: Denise Ricciotti, RASM Professional Development Manager

e want to give you enough notice about the upcoming deadline for completing the National Association of REALTORS® (NAR) Code of Ethics training. The current cycle, Cycle 7, began on January 1, 2022, and concludes on December 31, 2024. Code of Ethics training of two hours and 30 minutes within this three-year cycle is required to maintain your Realtor® status.

COMPLETING THE COE REQUIREMENT You can satisfy the requirement for Cycle 7 by completing one of the following options:

NAR Code of Ethics class: Visit this link to take

the Code of Ethics directly through NAR. Click here. RASM in-person Code of Ethics class: Code of Ethics classes are scheduled in person at RASM South or RASM North on the following dates in 2024. February 15, May 20, August 15, and November 4. Visit myrasm.com to register. RASM Online Code of Ethics Course via TheCEShop.com: Use our affiliate link to take the online Code of Ethics at the CE Shop. Click here. NAR Commitment to Excellence (C2EX) program: Completing the NAR C2EX serves as an equivalency option for COE. Click here for details. GRI 100 Series Professional Standards Course: The next GRI 100 class will be held in person at RASM South beginning in July. For online options visit VanEd.

SUBMISSION OF COMPLETION CERTIFICATES After completing your Code of Ethics training, please send your certificate of completion to education@myrasm.com.

CHECK YOUR CODE OF ETHICS STATUS You can check if you are up to date with your Cycle 7 Code of Ethics requirement by visiting either website:

MyRASM.com: Log into your portal at myrasm.

com the box under your profile picture will display “Current COE Cycle Complete.” If this says ‘Yes,’ then you have met the requirement and no further action is needed. If it says ‘No,’ then please choose one of the options noted above.

NAR.realtor: Log in to your Member Account at

NAR.realtor. This information is displayed on the Member Dashboard in your profile box. It will indicate ‘Yes’ or ‘No’ next to ‘COE Complete’ for the current 2022-2024 cycle.

AVOID THE LAST-MINUTE RUSH While December might seem distant, we urge you not to wait until the last minute. Avoid the stress by planning your training early to stay in compliance with this December 31 deadline. For more information and resources on NAR’s Code of Ethics, visit NAR’s Code of Ethics Training page.

REALTORS® NEWLY DESIGNATED & CERTIFIED Accredited Buyer’s Representative (ABR®) Tyler Kenneth Shanahan, Coldwell Banker Realty C2EX Patrick Adam Allard, Team Allard Realty LLC Stephanie Lynn Ham, Premier Sothebys Intl Realty Scarlet L Kelly, Keller Williams On The Water e-PRO® Garry Neeves, Sarasota Trust Realty Company Graduate, REALTOR® Institute (GRI) Silvia Chiaro, Coldwell Banker Realty Military Relocation Professional (MRP) Michael Baker, RE/MAX Alliance Group Ronald Gregory Belser Jr, Coldwell Banker Realty Carla Michele Blethen, Leslie Wells Realty, Inc. Amanda Morgan Clark, KW Suncoast Matthew Eichel, Michael Saunders & Company Richard Hearn, Michael Saunders & Company Robert Minor, Michael Saunders & Company Sandra J. Skoumal, Coldwell Banker Sarasota Cent. Pricing Strategy Advisor Garry Neeves, Sarasota Trust Realty Company Resort & Second Home Property Specialist Amy L. Worth, RE/MAX Platinum Realty Short Sale & Foreclosure Resource James Robert, James Agee Realty LLC Stephanie Ann Danielson, Acuity Property Group LLC Seniors Real Estate Specialist® (SRES®) Robert Leroy Burks, LPT Realty, LLC James Irvin Hess, Keller Williams Realty Select • myRASM.com | 31

FEBRUARY 2024

CALENDAR OF EVENTS FRIDAY, FEBRUARY 2

THURSDAY, FEBRUARY 15

WEDNESDAY, MARCH 6

9:00 a.m.

CREA Marketplace South

9:00 a.m.

Code of Ethics South

9:00 a.m.

14 HR CE (Day 2 of 2) NNorth

9:30 a.m.

Personal Assistants and the Law iOnline

1:30 p.m.

Core Law iHybrid

1:00 p.m.

CIPS: Local Markets (Day 2 of 2)

SATURDAY, FEBRUARY 3 7:30 a.m.

Volunteer: Habitat for Humanity Sarasota Build Day i4220 Beneva Road

MONDAY, FEBRUARY 5 2:00 p.m.

Underutilized Riders and Addenda

Online

FRIDAY, FEBRUARY 16 9:00 a.m.

TUESDAY, FEBRUARY 20 11:30 a.m.

CREA Economic Update tSouth

1:00 p.m.

CIPS: Europe (Day 1 of 2) Online

2:30 p.m.

Mastering Short Term Rentals tSouth or NNorth

iHybrid

TUESDAY, FEBRUARY 6 1:00 p.m.

CIPS: Transaction Tools (Day 1 of 2)

CREA Marketplace tSouth

THURSDAY, MARCH 7 8:30 a.m.

Women’s Leadership Summit tSouth

1:00 p.m.

FR Legal Hotline: Top 10 FAQs

Online

FRIDAY, MARCH 8 8:30 a.m.

CREA Marketplace tSouth

WEDNESDAY, FEBRUARY 21 1:00 p.m.

CIPS: Europe (Day 2 of 2) Online

WEDNESDAY, MARCH 13 1:30 p.m.

Online

Intro to Contracts tSouth

THURSDAY, FEBRUARY 22 WEDNESDAY, FEBRUARY 7

2:00 p.m.

Global Spotlight: Dubai iHybrid

FRIDAY, MARCH 15 9:00 a.m.

8:00 a.m.

GRI 103 (Day 1 of 2) NNorth

1:00 p.m.

CIPS: Transaction Tools (Day 2 of 2)

FRIDAY, FEBRUARY 23

Online

9:00 a.m.

CREA Marketplace tSouth

MONDAY, MARCH 18 2:00 p.m.

THURSDAY, FEBRUARY 8 8:00 a.m.

GRI 103 (Day 2 of 2) NNorth

6:00 p.m.

YPN Welcome Social iMandeville Beer Garden

FRIDAY, FEBRUARY 9 9:00 a.m.

SATURDAY, FEBRUARY 24 7:30 a.m.

WEDNESDAY, FEBRUARY 28 11:00 a.m.

CREA Marketplace South

MONDAY, FEBRUARY 12 10:00 a.m.

Buying and Selling Waterfront Properties South

1:00 p.m.

Deep Dive into the World of Waterfront Properties South

TUESDAY, FEBRUARY 13 9:00 a.m.

Intro to Contracts NNorth

1:30 p.m.

New Member Orientation NNorth

32 | ELEVATE [ FEBRUARY 2024 ]

Volunteer: Habitat for Humanity Build Day i1032 32nd Ave E

RASM Business Partner Expo iPhillippi Estate Park

FRIDAY, MARCH 1 9:00 a.m.

CREA Marketplace South

TUESDAY, MARCH 5

CREA Marketplace tSouth

Commercial Contracts tSouth or NNorth

TUESDAY, MARCH 19 11:30 a.m.

CREA Member Meeting tSouth

1:00 p.m.

CIPS: Asia/Pacific (Day 1 of 2) iOnline

1:30 p.m.

New Member Orientation tSouth

WEDNESDAY, MARCH 20 1:00 p.m.

CIPS: Asia/Pacific (Day 2 of 2)

Online Registration is requested. See event calendar at: myrasm.com calendar

9:00 a.m.

14 HR CE (Day 1 of 2) NNorth

1:00 p.m.

CIPS: Local Markets (Day 1 of 2)

CALENDAR KEY:

Online

South 2320 Cattlemen Road, Sarasota, FL 34232 North 2901 Manatee Ave W, Bradenton, FL 34205 Hybrid Class offered online or at specified location Online Class is only offered through webinar. Other Class or event is offered off site.

UPCOMING CLASSES UPCOMING CLASSES

CORE LAW: STAY OUT OF TROUBLE WITH FREC

Learn more at myrasm.com/calendar to register.

Thursday, February 15

UNDERUTILIZED RIDERS AND ADDENDA Monday, February 5

2:00 - 3:30 p.m.

[ South & Online ]

This panel will focus on a review of some of the more frequently used FR/BAR Contract Addenda and Riders and will touch on several of the ones that are underutilized or misused by Realtors®. Members Free.

Tues., Feb. 6 - Wed., Feb 7

1:00 - 4:30 p.m.

[ Online ]

This course will provide students with the tools needed to present investment information to international clients in their currency and area. Members $125. 6 HRS CE.

2024 COMMERCIAL ECONOMIC UPDATE 11:30 a.m. - 1:00 p.m.

Wed., Feb 7 -Thurs., Feb. 8 8:00 a.m. - 5:30 p.m.

[ North ]

GRI 103 will discuss the latest developments in finance, the unlicensed practice of law, and how to negotiate and counsel for a successful outcome. Members $60. 11 CE HRS.

FUNDAMENTALS OF BUYING AND SELLING WATERFRONT PROPERTIES Monday, February 12

10:00 a.m. - 12:00 p.m.

CIPS: EUROPE

Learn the responsibilities of selling waterfront properties, identify various bodies of water and water types, recognize the significance of home orientation and more. CWS Members $5. Non-CWS Members $10. 2 CE HRS.

DEEP DIVE INTO THE WORLD OF WATERFRONT PROPERTIES Monday, February 12

1:00 - 3:00 p.m.

[ South ]

Learn to identify the necessary property inspections, recognize common hidden costs, identify key home historical information, and more. CWS Members $5. Non-CWS Members $10. 2 CE HRS. Designation or Certification Courses

1:00 – 4:00 p.m.

[ Online ]

This course will discuss the European Union and its impact on international real estate, economic and real estate trends, networking and relationships building, and marketing and selling practices. Members $125. 6 CE HRS.

MASTERING SHORT TERM RENTALS Tuesday, February 20

[ South ]

Join CREA for the annual market and economic update and dive into the trends and headwinds impacting commercial real estate fundamentals in the Greater Sarasota area. CREA Members Free. Non-CREA $5.

Tues., Feb. 20 Wed., Feb 21

GRI 103: MAXIMIZE YOUR PROFITABILITY

[ Hybrid ]

This course will provide a review of some of the aspects of pre licensing and provide information on the new laws and rules in real estate. This class fulfills the requirement for license renewal. Members $10. 3 CE HRS.

Tuesday, February 20

CIPS: TRANSACTION TOOLS

1:30 - 4:30 p.m.

2:30 - 4:00 p.m.

[ South & North ]

In this class, our panel will discuss the legal requirements and considerations for buying and selling short-term rental properties, including licensing requirements, insurance, ADUs and more. Members Free.

RASM BUSINESS PARTNER EXPO Wed., February 28 11:00 a.m. - 2:00 p.m. [ Phillippi Estate Park ]

Take a lunch break from your busy day and join RASM’s Business Partners for their Luau Expo. Build your referral network with trusted partners, while enjoying live music, catered food, and fabulous giveaways. Realtor® Members $5. ($10 at the door).

[ Continued on page 34] myRASM.com | 33

UPCOMING CLASSES CONTINUED MLS REQUIRED CLASSES

MLS COMPLIANCE 101

In-person MLS classes take place in the beginning of the month at RASM South and RASM North. Live webinars are available for required and elective classes. If you prefer to complete your required education by taking a self-paced online class, please visit learn. stellarmls.com.

Monday, February 5 Wednesday, February 7

MLS BASIC Monday, February 5 Wednesday, February 7

10:00 a.m. – noon 10:00 a.m. – noon

[ North ] [ South ]

This required class teaches every new Stellar MLS subscriber the basics of how to use the Matrix MLS System to power their real estate business. Topics include navigating the system, setting up a property search, direct and auto emails, managing contacts, and personalizing the Matrix system.

1:00 - 2:15 p.m. 1:00 - 2:15 p.m.

A key purpose of the MLS is to provide real estate brokerages a mechanism to compensate each other for bringing buyers to each other’s listings. In order for this to work, it is critical that we share accurate data, and enter listings in a way to maintain the cooperative nature of the MLS. This required class for new subscribers reviews the MLS comprehensive Rules & Regulations to ensure that all users have access to the best data possible.

MLS ADDING & EDITING LISTINGS Monday, February 5 Wednesday, February 7

2:30 - 3:45 p.m. 2:30 - 3:45 p.m.

[ North ] [ South ]

This class is mandatory for agents who will be adding and modifying listings in the MLS. We walk through the process of gathering listing data, entering listings into the MLS, adding photos and attachments, and modifying listings, and share tips in the listing entry process. •

2024 DATES

ENHANCE KNOWLEDGE

STANDARDS OF PRACTICE

GAIN CONFIDENCE

JAN 10-11 JAN 24-25 FEB 7-8

IMPRESS CONSUMERS EARN YOUR GRI

ESSENTIAL REAL ESTATE TECHNIQUES APR 8-9 APR 22-23

REAL ESTATE SPECIALTIES JUNE 4-5 JUNE 25-26

STANDARDS OF PRACTICE JULY 30-31 AUG 12-13 AUG 27-28

34 | ELEVATE [ FEBRUARY 2024 ]

[ North ] [ South ]

100 SERIES

200 SERIES

300 SERIES

100 SERIES

MEMBERSHIP NEWS

RASM Membership Update By: Jessica Montague, Member Services Director

RASM MEMBERS NOW WITH Mandi Britt Alagoz, Preferred Shore Alicia Andreson, Coldwell Banker Realty Robbi Lyn Armstrong, Fine Properties Roxanne Barron, Preferred Shore Leidy Josefina Briceno, EXP Realty, LLC Nicole M. Brickhouse, Fine Properties Eileen Burke, Coldwell Banker Realty Daniel Peter Cacchiotti, Coldwell Banker Realty Charlotte Cassidy, Better Homes & Gardens Real Estate Celine Nicole Charleson, Keller Williams On The Water Sarasota Judith Cipollina,Coldwell Banker Realty Carroll J. Couri, Compass Florida LLC Yelena Marea Crawford, Compass Florida LLC Cynthia Marie Creswell, Keller Williams On The Water Cheri P. DeSarno, White Sands Realty Group FL William J. Disher, Oakstrand Realty Monica Lynn Dixey, Coldwell Banker Realty Jessica S. Dunnam, Compass Florida LLC Holly M. Fullerton, Ian Black Real Estate LLC Brittany Pelletz Gates, Relax Realty Group Inc Justin Gates, Relax Realty Group Inc Jill Ashley Gould, Exit King Realty Jana Marie Gouwens, Coldwell Banker Realty Tonna Murphy Gruber, Coldwell Banker Realty Marco Guadagnini, Preferred Shore Shelly Lynn Hart, Dalton Wade Inc. Emily Grace Holwerda, Compass Florida LLC Rebecca A. Howard, Harry Robbins Assoc Inc William J. Keogh, Coldwell Banker Sunstar Realty Natasha Keshmirian, KW Suncoast Neha Ketkar, William Raveis Real Estate Melissa Kobielnik, Exit King Realty Kate Kwiecinski, Coldwell Banker Realty Arlene Ladell, Fine Properties Janet L. Lee, Dalton Wade Inc. Kendall Richard Lutz, Compass Florida LLC Paula McCabe, Compass Florida LLC Davida Leanne MCDonald, Coldwell Banker Realty Karen Lynn McElroy, Preferred Shore Ania McGinty, Compass Florida LLC Samantha Jane Mears, LPT Realty, LLC

Wendy Medina, LPT Realty, LLC Timothy Austin Morris, Platinum Palm Properties Heather Nave, Preferred Shore Shari Norwick PA, Fine Properties Andres Giovanni Orjuela Munoz, SRQ International Realty LLC John Donald Osgood, John Osgood, Licensed Appraiser Brian John Partie, Engel + Voelkers Sarasota Svetlana Ponomarenko, MVP Realty Associates LLC Jeffrey Prater, RE/MAX Alliance Group Mary Jo Pribe, Fathom Realty FL, LLC Thuy T. Quach, Robert Slack LLC Don Reinhardt, Coldwell Banker Realty Christopher Rielly, Coldwell Banker Realty Gary Rogers, LPT Realty, LLC Mary Romac, Compass Florida LLC Daphne Roman, Ellermets Realty, Inc. Angela Ronco, Dalton Wade Inc. Kimsey L. Ruggiero, Preferred Shore David P. Samler, Wagner Realty Rebecca Samler, Wagner Realty Rebecca Jean Schlack, LPT Realty, LLC Lucretia Schmidt, Homemade Property Group Inc. Joseph N. Sikorski, Oceans Global Realty, LLC Matthew Jason Simon, Harry Robbins Assoc Inc. Andrew Swartz, EXP Realty, LLC Jan Swift, EXP Realty, LLC Bradley Tayloe, KW Suncoast Michelle C. Ward, Compass Florida LLC Shannon Leigh Welling, Compass Florida LLC Sylvia Wilk, Compass Florida LLC Pamela Williams, Dalton Wade Inc. Dara Elizabeth Winters, Coldwell Banker Realty Toni M. Yeomans, William Raveis Real Estate Kimberly Bliss Yniguez, Preferred Shore John J. Zahner, Michael Saunders & Co. - Boca •

[ Continued on page 36 ] myRASM.com | 35

MEMBERSHIP NEWS NEW DESIGNATED REALTORS®

Stacy Allocco, Creative Properties RE, LLC Robert Biggs, Mr Biggs LLC Joe Kuruvila, Kuruvila Realty Associates LLC Nicholas Leyendecker, Leyendecker Realty John Donald Osgood, John Osgood, Licensed Appraiser Peter B. Phinney, Redfin Corporation

NEW REALTORS® Donald H. Anderson, Beckmann Real Estate Maria Noemi Andino, RoseBay International Realty, Inc. Philip Andrew Armstrong, The Sunshine State Company Inbal August, Douglas Elliman Sadaf Bakhtavar, Keller Williams On The Water Sarasota James David Ballard, Douglas Elliman Laly Ortega Ballard, Douglas Elliman Alla Barskaya, William Raveis Real Estate Amanda Leigh Beck, Coldwell Banker Realty Randi Beckingham, Keller Williams On The Water Sarasota Ronald Gregory Belser Jr., Coldwell Banker Realty Xiaoli Bi, Realty Executives Gallery Katerina A. Bolshakova, Coldwell Banker Sarasota Cent. Csaba Borbely, SunReal Estate Inc. Tomasz Konrad Borucki, Keller Williams On The Water Sarasota Ashley Bower, Integrity Investments Realty Tony Allen Brown, Fine Properties Leann Buchanan, Keller Williams On The Water Sydney Rae Buckley, Duncan Real Estate, Inc. Joanne K. Caldwell, Coldwell Banker Sarasota Cent. Rodney Cline, Coldwell Banker Realty Brett Coleman, Realty Home Advisors Inc Toni J. Colwell, Signature Premier Properties LLC Heather Marie Comer, LoKation Taylor Ann Condon, Coldwell Banker Realty Kimberly Sue Conkle, Weichert Realtors® Hallmark Properties Brian Patrick Cooper, Marcus & Company Realty Joseph Francis Costantino, Patriotic Real Estate Joseph C. Cricco, ROVI Sumilda Cruz, Sasso Realty Investments, LLC Clay Davis, Coldwell Banker Realty Martin Dermangian, Michael Saunders & Company Kathryn Buice Dieter, Michael Saunders & Company Andrew John Doucett, Michael Saunders & Company Jean Claude Dutrevil, Century 21 Beggins Enterprises Robin Eekhof, Keller Williams On The Water Carminia Lim Escueta, Pinnacle Realty Advisors Irving Noel Fannell, Coldwell Banker Realty Justin Finney, Coldwell Banker Realty Linda Fletes-Budier, Align Right Realty SRQ Opulence Melissa Francis, Keller Williams Realty Select Matthew Gabel, Signature Premier Properties LLC Sarah Danielle Galloway, Coldwell Banker Sunstar Realty 36 | ELEVATE [ FEBRUARY 2024 ]

Todd Hamilton Galvin, Bright Realty Sue Gengle, A Paradise Inc. REALTOR® Donna Michelle Gingras, Keller Williams Realty Select Daikel Gonzalez Fuentes, Atlas Realty Company, Inc. Leah Marie Gordillo, Exit King Realty David Griffin, Keller Williams Island Life Re Louise M. Guido PA, Premier Sothebys Intl Realty Roberto Cesar Gutierrez, Realty One Group Sunshine Maryna Haiduk, Coldwell Banker Realty Regina Marie Hanna, Coral Bay Realty LLC Michael Senaca Hawthorne, KW Suncoast Gene S. Hendrickson, Wagner Realty David James Hering, Debbie Hering Realty & Assoc. Jorge Tomas Hernandez, Starlink Realty, Inc Barry Alan Huber, SimpliHOM Alva Keith Inman, Ascendia Real Estate Addie Marie Jaquith, Re/Max Platinum Realty David Alan Johnson, Keller Williams On The Water Sarasota Christina Donnarumma Kelly, Oakstrand Realty Sarah Kim, ROVI Stacey Carol King, Keller Williams On The Water Sarasota Ellen M. Kirkegaard, Premier Sothebys Intl Realty Fatima Gabriela Konkel, Bright Realty Melanie Kuzmanich, Realty Hub Sarah-Jade Lacoursiere, EXP Realty, LLC Layne Timothy-Rivers Lehto, An Island Place Realty Inc. David Lloyd, Coldwell Banker Realty Celeste Lopez, Town & Country Properties of FL Richard Joseph Lyons, Ascendia Real Estate Richard McQuillan, Signature Premier Properties LLC Alzira Urbina Meierling, Keller Williams On The Water Sarasota Mario Melendez, Keller Williams Realty Select Daisy Mendoza, Keller Williams On The Water Robert Minor, Michael Saunders & Company Debra Lynne Montanaro, ROVI Darren Patrick Murtha, Better Homes & Gardens Real Estate William Chase Myer, Coldwell Banker Realty Scott E. Nettles, Keller Williams On The Water Barbara A. Neurohr, Berkshire Hathaway HomeServices Florida Realty Holly Mika Nikolich, Overseas Realty, Inc. Shannon O’Brien Kerney, Sato Real Estate Inc. Jonathan D. Ocasio Justus, Exit King Realty Sharon Owens, Berkshire Hathaway HomeService Craig William Parrott, Bright Realty Tamara Barbara Pawlowska, Living Vogue LLC Julianne Pearce, Michael Saunders & Company Amaury Perez, Sasso Realty Investments, LLC Julie Pham, EXP Realty, LLC Jacques L. Pierre, Keller Williams On The Water Sarasota Jens Pinkernell, SRQ Premier Realty LLC Linda L. Piro, Piro & Associates Izabella Rosalie Ponce, Coral Bay Realty LLC Megan Ray Ponce, Coral Bay Realty LLC Maksim Pshichenko, HomeSmart Uriel Quiles, Preferred Shore

MEMBERSHIP NEWS Claudia Ramos, KW Suncoast Emerson Raygor, Fathom Realty FL, LLC Cory Richter, LPT Realty, LLC Christopher Rielly, Coldwell Banker Realty Daniel Roach, Edina Realty, Inc. Gary Rogers, LPT Realty, LLC Marjorie Sue Romano, Keller Williams Realty Select Laura Romeiro, Exit King Realty Catherine Ronquillo, Coldwell Banker Realty Jessica Rosen, Bright Realty Adam Rovithis, ROVI Thomas V. Sannicandro, Edge Group Real Estate Simone Schaerf, Michael Saunders & Company Jordan Scinta, Wagner Realty Sally Sells, Coldwell Banker Realty John Shanahan, Compass Florida LLC James Smith, Michael Saunders & Company Ravisa Speiker, Franchise Hustle LLC Gabriel V. Spera, Signature Premier Properties LLC Gail Stephens, Premier Properties of SRQ LLC

Thomas C. Stephens, William Raveis Real Estate Alison Elizabeth Stopani, 54 Realty LLC Jessica Svensson, Douglas Elliman Pranav Thakker, Keller Williams On The Water Anthony Lawrence Thomas, Wagner Realty Marci Lynn Toomey, Trend Realty Nikola Trajceski, Exit King Realty Alejandro Trevino, RE/MAX Alliance Group Georgios Ioannis Tsakiris, House Match Michele Vena, Douglas Elliman Max Sigmund Von Pichl, HomeSmart Marc Warshawsky, Compass Florida LLC Vivian Wirth-Kenyon, Wyman and Sons Realtors® Steven Witczak, Secure Door Property Management Michelle Woodson, Keller Williams Island Life Real Estate Gjergji Xhemali, Better Homes & Gardens Real Estate Ofelia Roseth Youngblood, KW Suncoast Jennifer Lynn Zaleski, Keller Williams On The Water Sarasota

NEW BUSINESS PARTNERS

RD TRAINING SYSTEMS

EDWARD JONES 324 8th Ave W Ste 105 Palmetto, Florida 34221 Representative: Tram Nguyen Email: tram.nguyen2@edwardjones.com There’s an advantage in working with an Edward Jones advisor who knows you, and your financial goals. That’s what makes Edward Jones different from other investment firms. Supporting the relationship between you and your Edward Jones advisor shapes nearly every aspect of our business.

32392 Coast Hwy Caguna Beach, California 92651 Representative: Brittany Carlone Email: BrittanyC@rdtrainingsystems.com RD Training Systems currently serves as a consultant to many of the largest real estate corporations, organizations, and affiliates in North America, assisting them in the development and strategy of their marketing plan, business strategy, and sales tools.

RIGHT KEY MORTGAGE, LLC

3333 Clark Road #200 Sarasota, Florida 34231 Representative: Wayne Rasmussen Email: lpsworkbox@gmail.com Helping you with your property management needs.

859 Washington Street South Easton, Massachusetts 02375 Representative: Deborah Jordan Email: deb.jordan@rightkeymortgage.com With Right Key Mortgage, you always come first. Our goal is to make the process easy for you from start to finish. We offer free consultations and provide mortgage services tailor-made to your needs. Don’t get lost in the process! We can make the journey simple.

MK INSPECTION GROUP

YARNALL MOVING & STORAGE

LEGACY PROPERTY SERVICE, INC

6613 Serenity Fall LN Sarasota, Florida 34240 Representative: Matthew Kish Email: MKInspectionGroup@gmail.com Our mission is to provide home buyers and realtors with the highest quality inspection experience by utilizing software and technology to add more value to the inspection process.

1590 East Avenue North Sarasota, Florida 34237 Representative: Gavin Broadfoot Email: gavin@yarnall.com We pride ourselves in having a loyal, dedicated team of movers. On average, our moving team has been with Yarnall for more than 17 years. And over the decades, we have changed with the times and expanded to offer needed services. As problem-solvers, we help customers overcome their unique moving and storage challenges.•

myRASM.com | 37

2023 ANNUAL SPONSORS PLATINUM

SILVER

BRONZE Battaglia Law, PLLC Carotti Engineering, LLC LeeWay Home Inspection

Sunshine Movers of Sarasota Third Federal Savings & Loan

2024

MEMBERSHIP RENEWAL NOVEMBER 1 INVOICES AVAILABLE IN

DECEMBER 15

MY RASM

PORTAL

PAYMENT

DUE

JANUARY 16 MEMBERSHIP SUSPENSION

$50 LATE FEE

FEBRUARY 15 TERMINATION DAY

$75

TO REINSTATE + LATE FEE

Reach Further™ With Your Membership

DUES BREAKDOWN Investments in RPAC are voluntary and non-deductible. The REALTOR® Party works to advance policies and candidates that build strong communities, protect property interests and promote a vibrant business environment. RPAC investments have increased our influence in Washington, Tallahassee and local governments in Sarasota and Manatee.

Support the RRCF with a taxdeductible donation.

Member Benefits As your trade association, annual membership fees provide the resources you need to succeed in this dynamic industry. Education, advocacy, tools, market information, and more— RASM offers it all with YOU, the member, in mind.

The RRCF supports our community through donations to local housing-related charities, college scholarships for students, and financial aid to members in need.

MYRASM.COM/RENEW

MISSION Empower and engage our REALTOR® community by delivering essential services, resources, education, and experiences that elevate member success and professionalism, while advocating for REALTOR® initiatives and private property rights.

VISION We are an innovative and relevant association that elevates the standards of professional excellence, and are critical to our members’ success, while providing value to our community.

2 20 15 15 470+ 9,000+

counties employees committees directors

affiliates

realtor® members

FLORIDA REALTORS® PAC (2023)

5,020 55 $325,000 members invested in florida realtors® pac

major investors

invested into rpac by rasm members in 2023

largest local association in united states

2024 LEADERSHIP TEAM

# tony barrett

president

debi reynolds

david crawford

president-elect

vice president

anita lambert treasurer

past president

40,000 174,000 $75,000 $

raised for the foundation in 2023

RASM SOUTH

in florida

brian tresidder

2320 Cattlemen Road, Sarasota, FL 34232

largest local association

RASM NORTH

in scholarships awarded in 2023 donated to local charities in 2023

2901 Manatee Avenue W., Bradenton, FL 34205

www.myrasm.com • (941) 952-3400

PHONE: (941) 952-3400 FAX: (941) 952-3401

www.MyRASM.com

EXPANDED REPORTS Sarasota and Manatee Counties

December 2023 Reach Further With The Market.

For more detailed reports, visit myrasm.com/statistics

Monthly Distressed Market - December 2023 Single-Family Homes Sarasota County December 2023

December 2022

Percent Change Year-over-Year

517

486

6.4%

$519,500

$505,500

2.8%

N/A

$220,000

(No Sales)

N/A

(No Sales)

N/A

Closed Sales Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2019

2020

Traditional

2021

Foreclosure/REO

2022

2023

Short Sale

100% 90%

Closed Sales

80% 70% 60% 50% 40% 30% 20%

10% 0%

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D

$800K $700K

Median Sale Price

$600K $500K $400K $300K $200K $100K $0K

J FMAM J J A S ON D J FMAM J J A S OND J FMAM J J A S ON D J FMAM J J A S OND J FMAM J J A S OND

2019

2020

2021

2022

2023

̺ ̵ Ǥ ͳͷ Ǥ ǡ ͳͻǡ ʹͲʹͶǤ ǡ ʹʹǡ ʹͲʹͶǤ

42 | ELEVATE [ FEBRUARY 2024 ]

Monthly Distressed Market - December 2023 Single-Family Homes Manatee County December 2023

December 2022

Percent Change Year-over-Year

609

537

13.4%

$499,900

$507,000

-1.4%

N/A

(No Sales)

N/A

$250,000

(No Sales)

N/A

Closed Sales Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2019

2020

Traditional

2021

Foreclosure/REO

2022

2023

Short Sale

100% 90%

Closed Sales

80% 70% 60% 50% 40% 30% 20%

10% 0%

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D

$1600K $1400K

Median Sale Price

$1200K $1000K $800K $600K $400K $200K $0K

J FMAM J J A S ON D J FMAM J J A S OND J FMAM J J A S ON D J FMAM J J A S OND J FMAM J J A S OND

2019

2020

2021

2022

2023

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Monthly Distressed Market - December 2023 Townhouses and Condos Sarasota County December 2023

December 2022

Percent Change Year-over-Year

318

274

16.1%

$468,933

$392,000

19.6%

-100.0%

(No Sales)

$160,000

N/A

(No Sales)

N/A

Closed Sales Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2019

2020

Traditional

2021

Foreclosure/REO

2022

2023

Short Sale

100% 90%

Closed Sales

80% 70% 60% 50% 40% 30% 20%

10% 0%

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D

$1200K

Median Sale Price

$1000K

$800K

$600K

$400K

$200K

$0K

J FMAM J J A S ON D J FMAM J J A S OND J FMAM J J A S ON D J FMAM J J A S OND J FMAM J J A S OND

2019

2020

2021

2022

2023

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44 | ELEVATE [ FEBRUARY 2024 ]

Monthly Distressed Market - December 2023 Townhouses and Condos Manatee County December 2023

December 2022

Percent Change Year-over-Year

171

232

-26.3%

$355,000

$344,475

3.1%

N/A

$221,000

(No Sales)

N/A

(No Sales)

N/A

Closed Sales Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2019

2020

Traditional

2021

Foreclosure/REO

2022

2023

Short Sale

100% 90%

Closed Sales

80% 70% 60% 50% 40% 30% 20%

10% 0%

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D

$1000K $900K

Median Sale Price

$800K $700K $600K $500K $400K $300K $200K $100K $0K

J FMAM J J A S ON D J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND

2019

2020

2021

2022

2023

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myRASM.com | 45