Summer 2016
The Voice for Real Estate in St. Louis
Volume 12 - Number 2
Staff Directory 2016 Board of Directors Executive Committee
REALTOR® Directors:
Sandy Hancock, President Barry Upchurch, President-Elect Buddy Wood, Vice President/Treasurer Edwina Conley, Secretary Jeff Bosch, Member-at-Large Janet Judd, Immediate Past President Ben Cahill, Commercial Division President John R. Gormley, Chief Executive Officer
Term Ends 2016
Term Ends 2017
Term Ends 2017
Edwina Conley Tom Kennedy David Townsend Glenn Vatterott
Jeff Bosch Jill Butler Angie Ignatowski Suzi Mattus
Barb Keathley Luan Meredith Michelle Syberg John Powel Walsh
National Association of REALTORS® Directors
REALTOR® Associate Directors:
Sandy Hancock (Board President) Barry Upchurch (Board President-Elect) Letty DeMay (Director)
Glenn Vatterott (Large Firm Representative) Bruce Aydt (Distinguished Service Award)
Katherine Berry
Sharon Hutson
Marc Levinson
Affiliate Director Rebecca Meier
St. Louis REALTORS® Staff Executive Department
Membership and Finance
John R. Gormley, RCE, CAE, CIPS Chief Executive Officer jgormley@stlrealtors.com | 314.576.0033
Rick Capelli, Chief Financial Officer rcapelli@stlrealtors.com | Direct Line: 314.590.2313
Tina Stork, Executive Assistant tstork@stlrealtors.com | 314.576.0033 ext. 318
Judy Partsch, Membership Specialist/REALTOR® Shoppe jpartsch@stlrealtors.com | 314.576.0033 ext. 320
Legislative Department
Emily Whitlock, Lead Member Specialist ewhitlock@stlrealtors.com | 314.576.0033 ext. 339
Martina Johnson, Government Affairs Director mjohnson@stlrealtors.com | Direct Line: 314.590.2309 Molly White, Political Fundraising & Community Relations Coordinator mwhite@stlrealtors.com | 314.576.0033 ext. 310
Professional Development Karen Dunn, Director of Professional Development & Project Management kdunn@stlrealtors.com | Direct Line: 314.590.2312 Monica Wilson, Professional Development Coordinator mwilson@stlrealtors.com | Direct Line: 314.275.7888
Monica Alsup, SUPRA Administrator malsup@stlrealtors.com | 314.576.0033 ext. 315 Jessica Perez, Finance & Member Services Assistant jperez@stlrealtors.com | 314.576.0033 ext. 314
Marketing, Communications, and Public Relations Candice Coleman, Director of Marketing & Communications ccoleman@stlrealtors.com | 314.576.0033 ext. 317 Cuc Le, Art Director cucle@stlrealtors.com | 314.576.0033 ext. 301
Jessica Prater, Professional Development Specialist jprater@stlrealtors.com | 314.275.7888
Commercial Division
Jesse Solis, Member Services Coordinator jsolis@stlrealtors.com | 314.576.0033
Margo Colestock, Manager of Commercial Services & Events mcolestock@stlrealtors.com| 314.576.0033 ext. 309
Professional Standards Tracey D. Yost, Director of Professional Standards/Contracts & Forms Liaison tyost@stlrealtors.com | Direct Line: 314.590.2305
For advertising information or to submit articles for consideration in the REALTOR® Report, please contact the Marketing Department at communications@stlrealtors. com or 314.576.0033.
Mid America Regional Information Systems (MARIS) Paul Prince, President pprince@marisnet.com
Jason A. Darrough, Support Manager jdarroug@marisnet.com
David Price, Senior Vice President & Systems Manager dprice@marisnet.com
Brad Whitrock, Support Specialist bwhitrock@marisnet.com
Denise Bielicke, Vice President Operations dbielicke@marisnet.com Katie Otto, Vice President Member Services kotto@marisnet.com
Carroll Morrow, Membership Coordinator cmorrow@marisnet.com Tabitha McDuffie, Accounting Coordinator tmcduffie@marisnet.com
Randi Marie Penny, Member Services Coordinator rmpenny@marisnet.com Debi Peel, Compliance and Membership Coordinator dpeel@marisnet.com
What’s in a Name?
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Take Home the Gold: Six Practices to Help You Win in Real Estate Legislative Report
Around the Industry
QA
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So, You Want to File a Complaint? Vernon Hatridge is Awarded REALTOR® Emeritus Status Q&A With Sandy Hancock
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Sandy Hancock
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Commercial Membership: An Olympic-Sized Win! St St. Louis REALTORS® Give Back!
Designations
School District Stats
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TABLE OF CONTENTS
From the President: It’s a No Show Property, Now What?
3 | Summer 2016 — REALTOR® Report
FROM THE PRESIDENT
It’s a SHOW Property! Now What?
By Sandy Hancock, President of St. Louis REALTORS®
Property photos and condition are becoming more important every year. We list a property and then spend days, weeks or even months helping the seller get it ready to sell. Is it worth it? Yes!
rules and waiting until the “first available” time/date. We have the Code of Ethics and MREC Rules and Regulations to guide us, including the fiduciary obligation to our sellers.
Having the property in the best possible condition with the best possible photos makes a huge difference in the length of time it takes to sell and the ultimate sales price the seller receives.
Here are the applicable portions from the REALTOR® Code of Ethics:
When the property is ready to go, we put it in the MLS as ACTIVE. It is then automatically syndicated to hundreds of websites (as chosen by your broker) and exposed to thousands of potential buyers. It’s a masterful marketing effort that is handled automatically for you by Mid America Regional Information System (MARIS, our MLS). During the time we are finalizing the property preparation, the property may be on the MLS, but not ready to show. Listing agents may also hold off showing the property for a couple of days to make sure all interested buyers know the property is available before showing. This benefits sellers by ensuring they receive maximum exposure and also benefits buyers by ensuring all buyers know about the property. So, although the property is in the MLS, the agent remarks may state, “No show until 9 a.m. xx/xx/xx.” During this 3-5 day period, many refer to this property as NO SHOW. In general, this process works well; however, problems can arise when one agent/buyer is allowed to show the property while others are following the
Article 3 REALTORS® shall cooperate with other brokers except when cooperation is not in the client’s best interest. The obligation to cooperate does not include the obligation to share commissions, fees or to otherwise compensate another broker. (Amended 1/95)
Standard of Practice 3-8 REALTORS® shall not misrepresent the availability of access to show or inspect a listed property. (Amended 11/87)
Standard of Practice 3-10 The duty to cooperate established in Article 3 relates to the obligation to share information on listed property, and to make property available to other brokers for showing to prospective purchasers/ tenants when it is in the best interests of sellers/landlords. (Adopted 1/11) Based on these requirements, here are some best practices for listing agents: 1. Be specific about the first available time/day for showings. Once you have set it, don’t change it! 2. Educate your seller about
Sandy Hancock sandy@sandysellshomes.com 4 | Summer 2016 — REALTOR® Report
the importance of sticking with the time/ date once it has been set. 3. If the property is shown by anyone, the listing agent has an obligation to allow showings to ALL interested parties. 4. If the property is shown by anyone, the listing agent has an obligation to IMMEDIATELY update the showing instructions to allow anyone to show. Best practices for buyers agents: If there is no show until a specific date, immediately set an appointment for that date. Confirm with that agent in writing (email) that if the property is shown to anyone, the listing agent will notify you. The benefit of being a REALTOR® and a part of the MARIS MLS, is that we can maximize exposure for our sellers — maximizing the price we receive. We can also expose our buyers to every possible property. By following these best practices, the process will work smoothly and will benefit everyone. View the National Association of REALTORS® Code of Ethics by visiting: stlrealtors.com/member-benefits/ professional-standards.
What’s in a Name? By John R. Gormley Chief Executive Officer, St. Louis REALTORS®
Brevity is clarity. And clarity is good. That’s the idea with our new name. In early May, the St. Louis Association of REALTORS® board of directors voted unanimously to adopt a new DBA (doing business as)— St. Louis REALTORS®. Our commercial division board did the same, opting for St. Louis Commercial REALTORS®. This follows the pattern of our state association, Missouri REALTORS®, and others. Why do this, you may ask? We’ve always known our association as SLAR. That might be fine, if we didn’t want the public to know who we are. But we do want consumers to identify with St. Louis REALTORS®, for the real estate professionals who comprise our membership. Members— you—are the association. And the association is you. Now, our name reflects that. Here’s something else to think about. In real estate, we are swimming in alphabet soup. Here’s a hypothetical conversation: “I contacted the FSBO to show him a CMA to get the listing because, after all, I’m a GRI. And GRIs give their clients a better ROI.” Our relentless list of acronyms is confusing to the public—and SLAR adds to that confusion. Finally, the REALTOR® brand, over many years, has become a victim of its own success and is now a generic term. REALTOR® is synonymous with real estate agent. But put St. Louis in front of it—and make no mistake, St. Louis is a strong brand itself—and you get something unique, meaningful and powerful.
You will start to notice St. Louis REALTORS® pop up in more and more settings. We now have a St. Louis REALTORS® minivan, to be visible around town with our community projects, and to deliver REALTOR® education to different venues like broker offices. And we didn’t have to commission a new logo; just slightly alter our existing logo to take out “Association of,” leaving us with—you guessed it—St. Louis REALTORS®. With the arch and river running through it, as they say. In the end, your association is about you, the member, and the consumers you serve. Ideally, consumers will increasingly see you as one of the good guys and gals, St. Louis REALTORS®, part of an organization that protects their private-property rights and helps ensure stable, thriving communities. You are the association. And you’re powerful, now more visible—part of what makes St. Louis such a great place to live and work. I hope you’ll like this change. Change—and clarity—are good things.
John R. Gormley jgormley@stlrealtors.com 5 | Summer 2016 — REALTOR® Report
INCLUSION ADVISORY GROUP
Take Home the Gold: Six Practices to Help You Win in Real Estate By Rene’ D. Brauner Member, Inclusion Advisory Group
As a REALTOR® in the industry for several years, I affectionately say when asked about my profession, I have been lucky and unlucky enough to see the good, the bad and the ugly in real estate. Beginning my career during the real estate Armageddon of 2009, I specialized in short sales and foreclosures, before I eventually transitioned into regular retail. This early opportunity gave me a unique look at the real estate business and, as a result, I have seen my share of real estate deals in all different forms. Now with the resurgence of buying and selling at a whirlwind pace, much of what we do is even more contingent upon a team-centered environment. So how do we really win in real estate? What are the metrics we use to measure success? Is it the number of homes sold? Is it the amount of money one earns? Is it the life changing opportunity we experience when we are able to get that first time buyer in their starter home? Or is it when we are able to help an older adult downsize to move toward their next chapter in life? Could it be when we are able to help a community rebuild, regrow and renew its housing infrastructure? For real estate professionals, we know that all of the above must apply for us to really win.
Rene’ D. Brauner drsleets@gmail.com
6 | Summer 2016 — REALTOR® Report
For most of us real estate has been, and continues to be, a passion and dream, much like the dreams of the athletes who grace center stage at the Olympics. Our first glimpses of success in real estate makes me think of Olympic hopefuls as they begin to imagine themselves as gold medalists. Bringing home the gold is ultimately what we all strive for with one major difference—the ultimate goal as a real estate professional is to make sure you are helping others have a home in which to bring their gold. The United States Olympic Committee created The American Development Model in 2014 to help Team USA achieve its greatest potential during the Olympic Games, much like the National Association of REALTORS® has done for REALTORS®. The Olympic Committee believes in mental focus, as well as the physical aspects of the team, to make each encounter, where the gold is on the line, a success. The model utilizes long-term athletic development concepts to promote sustained physical activity and participation in sports for Olympic and Paralympic success. These concepts have been tailored to create a framework for developing American youth through sport. The National Association of REALTORS® is much the same; this is why the six essential success concepts used to win the gold in the Olympics are perfect for any REALTOR® wanting to win in real estate.
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Six Practices to Help You Win in Real Estate STAGE 1: DISCOVER, LEARN AND PLAY Discovering the gift you provide in helping others become homeowners is the first step to making this a career. You must make sure you understand your purpose in this business. You must ask yourself several questions. What are your personal goals? You must, as a real estate professional, figure out what is most important—the path or the speed at which you journey down the path to reach the finish line. It is OK to play! When beginning our real estate journey, we are fresh from the classroom with no concept of what we are doing before we figure our actions will ultimately result in others attaining home ownership, which is the cornerstone of the American dream. One must understand that the path to the goal is more important than the goal itself, especially early in one’s career. It is more important to learn lessons and concepts along the way to the goal of the finish line, rather than collecting a check when the paper breaks. Are you the anchor or the trainee?
STAGE 2: DEVELOP AND CHALLENGE Developing your style is very important. Ask yourself, “Why would someone choose to work with me instead of working with another real estate professional?” With so many to choose from, it is important to figure out who you are as an agent and how you will fit into the team to achieve the goals set in front of you. Challenge yourself to learn more when put into new situations. As a professional, you must always be up for a new challenging situation. Quitting is not an option. Every property is as unique as the clients we serve. We must figure out what type of teammates we are working with and decide if we are the coach, the anchor or the principal of each team.
STAGE 3: TRAIN AND COMPETE Training is key. Always stay abreast of new developments in all facets of the real estate business, from new regulations to current marketing strategies. Technology moves at a breakneck speed; we as St. Louis REALTORS® must stay on top of how it affects our business. Ask yourself, “How can I compete with my competition?” As we all know, competition is fierce, especially now that we are competing not just against other REALTORS®, but also against the market, ever changing demographics and constantly shifting economic forces. To be the best, you must play with and beat the best. As in the Olympics, time after time, we see athletes come back after four years, especially those who have yet to win a gold medal. What we don’t see is the daily practice they commit to throughout those four years. More often than not, they leave
the Olympic Games with silver or bronze … or no medal at all. A true champion never quits. They learn from their deficits. As REALTORS®, we should do the same. If you lose a listing to another agent, figure out what you could have done differently, practice it and apply this new knowledge the next opportunity you get.
STAGE 4: EXCEL FOR HIGH PERFORMANCE Excel in your chosen focus. Never try to do every type of real estate, focus on one—or at most two disciplines—and become the best. Very few people can excel at more than one type of real estate. You don’t have to be great to get started, but you do have to get started to be great. The best and most seasoned athletes get up early and stay focused on what they are best at. Trying to do everything in real estate would be like Michael Phelps trying to compete on the bobsled team. It’s not his chosen discipline. Too many agents believe that referring a listing or a buyer to another agent is a loss. Being on the Olympic REALTOR® team, we learn more if we work with other agents and become better ourselves. That is how the whole team wins.
STAGE 5: PARTICIPATE AND SUCCEED Participate in community. If you want to sell a community, you must also know the community. We gain more riches by giving back than we do in just taking. Working as a team within a community, we all succeed in building that community as well as each other. Building a great community is not just for financial gain, you have to go the extra mile in the community of real estate, as well as the community of the neighborhoods in which we serve. Volunteer, even if you don’t live in the community. As St. Louis REALTORS®, every neighborhood is intertwined with its neighboring communities and so are the residents.
STAGE 6: THRIVE AND MENTOR FOR LIFE Mentor! The only thing better than bringing home the gold is helping to build up the next real estate champions. Rather than just looking at the time you spend mentoring another, look at the legacy you build in the priceless and timeless experience in helping another with your expertise. The ultimate goal is to create positive experiences for real estate athletes at every level. By using this model, brokers, clients and communities can maximize potential for the future and improve health and well-being for agents and communities. “REALTORS® are the gatekeepers of home.” Let’s make sure we keep the gates open for the next generation of home owners and agents—all the way to the finish line. A well planned and trained victor is always a gold medalist.
Legislative Report By Martina Johnson Government Affairs Director, St. Louis REALTORS® Politics is a lot like baseball—even if you strike out seven out of 10 times you’re still a hall of famer! While the Government Affairs department at St. Louis REALTORS® can’t always guarantee a gold medal on every piece of legislation, as a member of this association, you know that your voice is being heard on the issues that matter most to the real estate industry.
New Regulations on TIF and TDD Pass MO Legislature Tax Increment Financing (TIF) is a public financing method that is used as a subsidy for redevelopment, infrastructure and other community improvement projects. The competitive use of TIF among municipalities to incentivize commercial real estate projects, such as big box retail to build in their jurisdiction, has been criticized as a hindrance to the economic development of our region. House Bill 1434 will alter the process by which development projects are approved by the TIF commissions in St. Charles, Jefferson and St. Louis counties. The bill requires a majority vote of the commissioners voting on the plan for approval, whereas previously, a tie vote would have been sufficient to move forward. The bill also limits the authority of municipalities to use TIF on projects that do not receive county TIF commission approval, limiting the funds solely to site grading and demolition. When TIF is approved for a project, it has been a long-standing component of the program for local governments to submit a report on the project to the Missouri Department of Revenue. Many municipalities have fallen short on these reporting requirements, and HB 1434 aims to enforce the data collection. Any municipality that does not get up to date on their TIF data reporting by November could face a five-year freeze from any new TIFs being approved in that community. Similarly, many municipalities are also behind on their reporting requirements for Transportation Development Districts (TDD). The bill institutes up to a $500 fine per day for any municipality that fails to submit their TDD project data after the grace period has ended.
Housing Fine Protections Added to Municipal Court Reform Last year, the state legislature made strides in municipal court reform by capping the percentage of revenue a municipality can collect in traffic violations and fines. In the wake of this reform, many property owners were left vulnerable to excessive municipal ordinance fines from property code maintenance violations. In January 2016, St. Louis REALTORS® testified in a Senate hearing in support of the capping of municipal housing fines, in addition to the traffic fines. Senate Bill 572 added municipal code violations to the existing traffic revenue cap and was finally passed. 8 | Summer 2016 — REALTOR® Report
Changes Made to St. Louis County Sales Tax Pool In St. Louis County there has long been a one-cent sales tax that is distributed to many of the 90 municipalities and unincorporated St. Louis County, via the sales tax pool. In this system, municipalities are divided into “A” and “B” cities. “A” cities or “point of sale” cities keep most of their sales tax revenue, while “B” cities or “pool” cities have to share the revenue they collect among each other. There are laws in place preventing cities from changing classification from “B” to “A,” which has long been a point of contention for cities like Chesterfield, in the “B” category that have had a recent boom in retail development. The legislature passed House Bill 1561, which adjusts the county sales tax pool formula, guaranteeing group “B” cities get to keep 50 percent of new sales tax generated within their district. In terms of additional sales tax revenue, the biggest winners with this new legislation are Chesterfield, Fenton and Green Park. The biggest revenue losers are Ballwin, University City, Wildwood, Florissant and Webster Groves.
Condo FHA Loan Act Passes U.S. House of Representatives Unanimously Sponsored by Missouri’s own U.S. Rep. Blaine Luetkemeyer, H.R. 3700, also known as the “Housing Opportunity Through Modernization Act,” makes much needed changes to the FHA condominium loan program. Current FHA restrictions were hindering first time homebuyers from the ability to purchase a condo as an affordable home option; with only 10 percent of all condos having FHA approval. Current FHA rules require no less than 50 percent of condo units are owner occupied. H.R. 3700 lowers the owner occupancy ratio to 35 percent, allowing more condos in more buildings to qualify for FHA loans. The bill also directs FHA to streamline the condo recertification process and provides more flexibility for mixed-use buildings. H.R. 3700 passed the U. S. House of Representatives in a unanimous vote of 427-0 and will head to the Senate for approval.
New State and Federal Landlord Rulings – What You Need to Know Last year, Missouri REALTORS® was integral in the elimination of Trial De Novo in eviction suits, which was the ability for tenants to request a whole new trial during the 10-day waiting period before a landlord could resume possession of the property in successful eviction proceedings. After the elimination of Trial De Novo, it was unclear if the property owner still had to wait 10 days to take control of their property, or instead wait 30 days so the tenant had a chance to file an actual appeal rather than request an entirely new trial. HB 1862 clarifies that landlords need only comply with the 10-day waiting period, and added several other provisions to landlord-tenant law in Missouri.
Most notably, HB 1862 requires all rental property owners or managers to hold their security deposits collected from tenants in a separate bank account or credit union that is insured by the federal government. Funds cannot by commingled with other funds of the landlord and any interest earned by the security deposit will go to the landlord. Currently, a landlord is only authorized to withhold in a security deposit the amount that is reasonably necessary to restore the dwelling unit to its condition at the commencement of the tenancy. This “ordinary wear and tear” does not necessarily specify for certain actions such as professional carpet cleaning or repainting. HB 1862 specifies the landlord and tenant can agree to withhold from the security deposit an amount or fee for specified services to cover instances that exceed ordinary wear and tear. On the federal level, HUD recently released a set of guidelines regarding the potential disparate impact of criminal background checks. Landlords and rental property owners should look at their policies in selecting renters with criminal history to make sure they are tailored to serve a substantial, legitimate and nondiscriminatory interest of the housing provider, such as resident safety or protection of property. HUD generally advises against having any sort of blanket policy against all tenants who have convictions, and advises landlords not to create exclusions based on arrest records. HUD recommends having set look-back periods for criminal convictions, going back no more than approximately seven years. Rental property owners are encouraged to consider mitigating factors such as the age at time of conduct, nature and severity of the conviction and evidence of good tenancy before or after the criminal activity was committed to limit their liability. There is also a new trend sweeping the country of registering pets as emotional support animals. While service animals help their humans do daily physical functions, emotional support animals
are required by many Americans suffering from emotional or mental illness. Unlike a service animal, which is limited by law to be either a dog or a small horse, emotional support animals can be any type of animal. The emotional support animal certification, which is acquired from a mental health provider, allows that animal to be protected similarly to a service animal in regards to federal Fair Housing law. Rental property owners are prohibited from discriminating based on disability against tenants with service animals or emotional support animals, even if they have a no-pets policy for their property. Landlords must make reasonable accommodations to those who have registered emotional support animals, such as allowing the animal to be in the swimming pool with the tenant if they require the animal to be near them at all times. However, the law only protects a tenant’s right to have a service animal or emotional support animal if the animal is undisruptive to other tenants and under the control of the owner (on a leash outside the apartment) at all times. Emotional support animals can create sticky situations for property managers when other tenants see that there is an animal allowed in a no-pets, multi-unit building, or if the emotional support animal breed is banned in that neighborhood. When faced with a tenant with a registered emotional support animal, rental property owners should take steps to ensure that they are following Fair Housing protocol and work with the individual to create a pleasant living environment for all tenants.
Martina Johnson mjohnson@stlrealtors.com 9 | Summer 2016 — REALTOR® Report
Around the Industry By Dennis Norman Chairman, St. Louis Industry Forum Past President, St. Louis REALTORS®
At our April meeting of the St. Louis Industry Forum, we were pleased to welcome Bob Schenk, the executive vice-president of the Home Builders Association (HBA) of St. Louis and Eastern Missouri. Schenk assumed the role this past November after Pat Sullivan retired. We also welcomed new forum member Charlie Hinderliter, manager of advocacy outreach for the St. Louis Regional Chamber.
Builders say it was a depression, not a recession … At the forum, Schenk said builders don’t look at the 2008 housing market crash as a recession. They view it as a depression that was just as devastating to the home building industry. Schenk reported there has been an increase in the number of building permits issued to 3,900 in 2015; however, that is still half of the historic “norm.” • Roughly a decade ago, new home permits for the seven counties monitored by the HBA (St. Louis and counties of St. Louis, St. Charles, Franklin, Jefferson, Lincoln and Warren) were fairly consistent, at approximately 8,000 per year. • In 2011, new home permits in those seven counties hit a low of 2,300 permits. Since then, they have been steadily rising. The above data from the HBA illustrates why it is important to look at all the facts and not just the headlines. This past year there have been many sources reporting new home permits rising more than 50 percent. In reality, new home permits are still at levels not quite 50 percent of what they were 10 years ago.
It’s been a long road to recovery for builders and increasing regulatory and development costs aren’t helping …
• A recent study released by the National Association of Home Builders (NAHB) cited, on average, 24.3 percent of a home’s final selling price is made up of local, state and federal regulatory costs. Rueter also reported the HBA continues to work with municipalities throughout the region on new building code adoption—offering them a package of amendments to the model code in an attempt to make the codes more applicable to our region and to avoid unnecessary costs for homeowners.
Earned income tax credit would increase take-home pay for Missouri families … Charlie Hinderliter, manager of advocacy outreach for the St. Louis Regional Chamber, said his organization deals primarily with issues at the state level in Missouri and Illinois and is pushing for an earned income credit in Missouri. The Missouri legislature first considered a bill to establish a state Earned Income Tax Credit (EITC) back in the late 1990s. Since 2005, every legislative session has included an EITC bill, but all have failed to pass. During the 2016 session, legislators were considering HB2154, which sought to create a state EITC at 5 percent of the federal credit. Proponents of the EITC say that passage would “encourage work, enhance take-home pay, improve health and economic outcomes and have lasting benefits” for more than 500,000 families in Missouri.
Title insurance industry concerned about phishing schemes …
Celeste Rueter, staff vice president for public policy at HBA, echoed Schenk’s point on building permits, saying the trend is up, but “just creeping up.” While Rueter is optimistic about the coming year, she said rising regulatory and development costs are making it increasingly more difficult to build entry-level homes. For example:
Wendy Cromer, with Security Title and past president of the Missouri Land Title Association (MLTA), said the title insurance industry is concerned with hackers targeting the email accounts of real estate agents, and subsequently, emailing their clients with wiring instructions for closings that divert money into hackers’ accounts.
• The average development cost for residential lots (cost per front-foot) has doubled over the last 10 years. For a typical 60x100 foot-lot, this is an approximate $25,000 increase, which is significant for an entry-level home.
On the legislative front, Cromer said the MLTA was supporting HB 1757, which would allow more municipalities to establish community improvement districts; MLTA also supported HB 2034, which would allow title companies to prepare legal descriptions for some real estate transactions.
10 | Summer 2016 — REALTOR® Report
So, You Want to File a Complaint? By Tracey Yost Director of Professional Standards/Contacts & Forms Liaison, St. Louis REALTORS® How many of you are familiar with the process of filing a complaint? For those who are, you know it can be a productive and, at times, lengthy process. The National Association of REALTORS® (NAR) has made some much needed additions in hopes of promoting awareness and education, while decreasing the number of violations. This year, St. Louis REALTORS® approved and enacted three new policies: the Citation Policy, Respondent Notification Policy and the Anonymous Complaint Policy. These new policies will aid both the Grievance and Professional Standards Committees in handling and processing complaints. The role of the Grievance Committee is to determine, based on the facts listed in the complaint, if there is a possible violation of any of the 17 articles of the Code of Ethics.
Tracey Yost
tyost@stlrealtors.com
If the committee determines a possible violation has occurred, the complaint is referred to the Professional Standards Committee for a hearing. If that committee determines a violation has not occurred, the complaint is dismissed.
the respondent was notified as soon as a complaint was filed.
With the new Citation Policy, if the Grievance Committee determines that the complaint should be forwarded for a hearing and the complaint cites the Articles and Standards of Practice noted in the citation criteria, it is forwarded directly to the Citation Panel for review. The Citation Panel is comprised of the Professional Standards Committee chairperson, as well as a few select members. They review the complaint and assign the appropriate discipline, according to the guidelines set by NAR.
Finally, for those who want to file an ethics complaint, but wish to remain anonymous, we offer that option as well. For complaints submitted anonymously, the Professional Standards director will prepare a written summary of the complaint for the Grievance Committee to review. If the complaint is forwarded to Professional Standards for a hearing, the anonymity would be voided and the complainant would need to determine whether they are willing to proceed with the complaint. If, at that point, the complainant withdraws, the complaint is sent back to the Grievance Committee to determine whether they would become the complainant or dismiss the case altogether.
Another new policy adopted is the Respondent Notification Policy. This policy states that the respondent will only be notified of a complaint filed against them after the Grievance Committee makes a decision to forward the complaint to the Citation Panel or Professional Standards for a hearing. Prior to this new policy,
These new policies will allow the association to better serve our members with fairness and expediency. Please review the entire Citation Policy by visiting stlrealtors.com/member-benefits/ professional-standards. And, by all means, please feel free to contact me with any questions.
Apartments are hot, retail is not …
Senate Bill 623 …
Mike Hejna, president of Gundaker Commercial Group, said commercial real estate leaders also viewed 2008 as a depression, but now the industry is in recovery mode. Some sectors, such as multi-family, are literally “on fire” with cap rates through the roof; others, including retail, not so much. Hejna said “retail follows roof tops.” While the home building industry is producing just 50 percent of what would be the historic “norm” for “roof tops” (new homes), the retail industry continues to suffer. He added that industrial growth is suffering, with the exception of big-box stores.
Anthony Lancia, vice president of industry relations at the Associated General Contractors of Missouri (AGC) reported AGC was watching Senate Bill 623, which would provide funding for highways and bridges. He added if the bill passes, it would not provide enough funding to fix all the highway and road problems in the state but it would be a good start.
St. Charles market not a boom, but a year of steady growth ... Mark Stallman, CEO of the St. Charles County Association of REALTORS®, reported the market in his county is looking good for 2016, with increased home sales and prices. He also added everything is going well at the former Noah’s Ark site, which is now a large multi-use development.
St. Charles County flooded with flood map changes … Shelly Clark, president of Cardinal Surveying, reported that there has been a huge increase in properties in flood plains with the adoption of the new flood plain map in January 2016. Areas particularly affected include St. Peters and Wentzville.
Dennis Norman dennis@mo-re.com 11 | Summer 2016 — REALTOR® Report
Vernon Hatridge is ® Awarded REALTOR Emeritus Status Veteran Coldwell Banker Gundaker REALTOR® is former association “Manager of the Year” By Rick Capelli Chief Financial Officer/Membership , St. Louis REALTORS® Similar to any college senior majoring in management in 1972, Vernon Hatridge had his sights on launching a successful business career … in something. He just wasn’t sure exactly what. “I was like any other college senior, wondering what I was going to do, and the sister of a good friend was already a successful (real estate) agent here in St. Louis,” said Mr. Hatridge, a native of Missouri’s Iron County. “She made it sound intriguing and challenging so I thought I’d look into that a bit more.” Forty-four years later, Mr. Hatridge can only look back at that decision with no regrets. He has enjoyed a long and successful career in real estate sales management in the St. Louis area, mostly in the suburban municipality of Ladue. In fact, he’s still going strong today and enjoying it. In recognition of his career and years of service to the REALTOR® community and profession, he recently was awarded REALTOR® Emeritus status by the National Association of REALTORS® (NAR). The announcement was made at the Legislative Meetings and Trade Expo in Washington D.C. last month. As REALTOR®
Rick Capelli rcapelli@stlrealtors.com 12 | Summer 2016 — REALTOR® Report
Emeritus, Mr. Hatridge will enjoy lifetime exemption from NAR dues as well as exemption from the biennial ethics requirements. He will be honored at the November 10, 2016 installation of 2017 association President Barry Upchurch. Mr. Hatridge joined Laura McCarthy after his graduation from Southeast Missouri State University and worked as a salesman his first four years. He was promoted to branch manager at the very young age of 26, heading up a new office the firm opened near the intersection of Clayton and Kehrs Mill Roads. The late Henry Aydt, who was a friend and mentor to so many St. Louis REALTORS®, was an early and meaningful influence on Mr. Hatridge. At the time, Mr. Aydt was the co-owner of Laura McCarthy, along with Margaret Ryan. Mr. Aydt’s mentoring started Mr. Hatridge on the road to volunteer service at the association. Mr. Hatridge turned out to be a driving force in a number of landmark achievements during the 1980s and early 1990s for the association, then known as the Real Estate Board of Metropolitan St. Louis. The first “project” was a new headquarters. Mr. Hatridge served on the board of directors that helped guide the REALTORS® from their “cramped” Clayton location to the spacious, split-level building now occupied in west St. Louis County. “My name is on the building,” Mr. Hatridge laughed, recalling the dedication plaque in the front lobby honoring the directors and
building committee at the time. “There was never any parking at that Clayton location so we knew we had to do something,” he added jokingly. He also served as chairman and member of the Contracts and Forms Committee during a key time when a “plain language” sales contract was developed in 1990. The sales contract used today is still a direct descendent of that document. It was a huge step forward for St. louis REALTORS® at that time. “The old contract was extremely difficult legalese and had been that way for years— the new one was much more consumerfriendly,” explained Mr. Hatridge. “And to be honest, we (the REALTORS®) could also understand it a whole lot better.” Perhaps the most significant achievement during the volunteer part of Mr. Hatridge’s career started after a conversation with one of his agents—it was at the end of her particularly long, exhausting Sunday in the late 1980s, driving all over the area, picking up house keys for showings. “At the time I was serving as the chairman of the Member Services Council at the association, which was made up of a number of different committees. I asked myself, ‘Why in the world don’t we have a common key system?’” he said. Shortly after that turning point day, he talked to officers of two of the area’s large brokerages at the time. Both said they would be more than agreeable to the idea
“I was the leader of the band on that one but believe me, it was not a hard sell (to the other REALTOR® companies),” he remembered. The initiative culminated with the first agreement between the association and a key vendor – Multacc Corporation. Today, the provider is SUPRA of Salem, Oregon. The system has grown into a regional one consisting of St. Louis and five neighboring associations. Carole McCabe, senior vice president of Coldwell Banker Gundaker, also recalled Mr. Hatridge’s instrumental role in the start of the lockbox system. “Some members at the time thought it was a crazy idea and would never work. Vernon took the forwardthinking approach and was a big part of one of the best things to happen in our industry at the time. Imagine now showing houses without lockboxes!”
Today, Mr. Hatridge’s office—with its production awards and golf tributes (one of his favorite hobbies besides riding his motorcycle)—still looks out on bustling Clayton Road. While he has seen many changes throughout his 44 years, there are, of course, many constants. He was asked his opinion on a number of topics during a recent sunny spring afternoon in his office: On the REALTOR® brand and what it has meant to his career: “The relationship with the association has been unbelievable. Because of Mr. Aydt, I was really motivated to get involved and I have met terrific people. The learning experience has been invaluable, particularly the years on (the) Contracts and Forms and Professional Standards Committees. The association really helps lift the ethics and professionalism of real estate in this area.”
On the “passion” that most REALTORS® have for the business: “It stays fresh absolutely every day. Every After nine years with Laura McCarthy, Mr. transaction is different and Hatridge moved on to the old Ira Berry challenging in its own way. I tell my REALTORS®, again in a successful sales agents, you can have the exact same two manager capacity, where he did his part to transactions on paper, and yet, when you help the firm retain its ranking as one of the go through the process with those parties, area’s top companies. He later advanced the difference between them is night and to president with Dolan REALTORS®, then day. And that is because the people, the owned by a regional corporation, but found circumstances and the details involved in that his real love was as a branch manager. every transaction are all so unique.” “It was just too much administration for what I had a passion for and that was being On the relevancy of the REALTOR® to much closer to the action as a branch the transaction and relationship with manager,” he said. consumers: “Relevant data is something a good agent can still find for any He soon moved back to IRA Berry consumer. The actual process of REALTORS® (now combined with Coldwell buying and selling a home is still Banker) and later to Gundaker REALTORS®. something most people do not know— During this time, in 1989, he attained in many cases, cannot know. They need the honor of “Manager of the Year” from a good agent to get the most out of the the association, a very prestigious and transaction. It is also one of the most competitive award. He stayed on with emotionally charged decisions anyone can Gundaker through the 2001 merger of be associated with, plus it also may involve Coldwell Banker and Gundaker, all the a job relocation, the loss of a loved one, a while at his familiar location in the Ladue divorce or other major life-stressor. It can business district. His wife, Helen Reid, also make the job of an agent very stressful is a long-time Coldwell Banker Gundaker and challenging, but it also provides an agent at his office. This definitely has its opportunity for good agents to fill that advantages. valuable niche.” “She always says ‘You know it’s really good I work with you and you are my manager because you are the only one who could understand how crazy my job is,’” he said, laughing.
On young people entering the real estate profession: “My situation was somewhat unique when I started—going right from college to the business. You rarely saw that at that time. You still don’t see a whole lot
of it. But you are seeing it more than you used to. I continue to be impressed by the great skills of our young people today who we are recruiting. That is particularly true when it comes to technology and their ability to leverage technology in our profession. Starting young worked out for me and today, with the technology factor, there are a lot of advantages to starting early.” And finally this from Ms. McCabe, who has worked with Mr. Hatridge for many years, included a stint as one of his agents:
“
Vernon has been a loyal, dedicated, professional and supportive member of (our) management team for many years. There is one statistic that he is one of the top in our company year in and year out—the retention of productive sales associates. That really sums up how sales associates feel about Vernon’s leadership. They know he cares deeply about them. Congratulations to Vernon on earning this honor.
“
of a common key (lockbox) system. Kansas City already had such a system but for various reasons, St. Louis had resisted … until now.
QA &
With
Sandy Hancock By Sean Wiegert, Chair, Young Professionals Network
“
Avoidance is not a good idea or a good plan. Clients need to know you care and will be there for them. You have to move toward a problem so you can figure out a solution.
Q. How long have you been in real estate and why did you decide to go into this industry? A. Twenty-five years ago, in 1991, while I was employed with AT&T. I accepted a buy-out package due to downsizing. A friend of mine, who was a REALTOR®, suggested I look into real estate as a new career. Q. If you had a time machine and you could go back 25 years, what advice would you give your younger self? A. Try to get as much education as you can. Back then, we had GRI (Graduate, REALTOR® Institute) certification and I trained for a year to receive that. Other classes today like ABR® (Accredited Buyer’s Representative) and SRS (Seller Representative Specialist) can be invaluable to newer agents. I wish I would have done a little more sales training and also considered finding a mentor early on in my business. Q. What has changed most in the industry? A. Technology has had an incredible impact on this industry. When I started, there weren’t electronic SUPRA boxes and our MLS was accessed by dial-in terminals (and not internet-based). Contracts 14 | Summer 2016 — REALTOR® Report
“
Recently, I had the good fortune of connecting with the president of St. Louis REALTORS®, Sandy Hancock. I wanted to know how she got started as a REALTOR® and what advice she would give to new agents to ensure success in their real estate careers.
were signed with ink and in person. These circumstances, in my opinion, helped agents hone their customer service skills. I think it also helped agents become better negotiators. If you had to drive to meet your clients for each and every counter offer, you quickly learned how to manage expectations, as well as how to interpret body language and communicate better with other agents. With today’s electronic signatures, emails, texts, etc., it’s not as easy to develop those crucial skills. Q. What has stayed consistent in the last 25 years? A. Communication with the client. It’s important to be proactive; identify a problem and move toward the problem. Q. What do you mean by moving “toward the problem?” A. Avoidance is not a good idea or a good plan. Clients need to know you care and will be there for them. You have to move toward a problem so you can figure out a solution. Q. What are some tips you would give new agents starting out today? A. First, block time for prospecting. Define a group in your SOI (sphere of influence) and make sure you are marketing to them. Secondly, focus on training and systems. There has to be consistency to the services you provide. Use technology to leverage your time and always provide consistently excellent customer service.
Young Professionals Network A group where the young and experienced meet. Being an entrepreneur is all the rage but how do you find the right resources as a young business owner?
YPN
YOUNG PROFESSIONALS NETWORK
The St. Louis YPN chapter is dedicated to fostering the newly licensed and younger generation of real estate professionals by giving them the tools and encouragement they need to excel in their careers. As a member, you’ll be able to: • • •
Connect with peers and industry leaders through networking events Become involved in the community Learn how to utilize the tools provided by St. Louis REALTORS®
... and so much more!
Join YPN St. Louis today and start on your path for success! Sign up at: stlrealtors.com/membership/get-involved/ypn.
Q. Where should agents look for these systems or technologies? A. There are often opportunities at the agent’s company for training. New agents should also consider the association as an excellent resource for this information as well. YPN (Young Professionals Network), for example, can provide insight into these areas. So can WCR (Women’s Council of REALTORS®) and events like Xplode Conference and Tech Edge. Q. What other ways can the association impact a new agent’s career? A. At the basic level, the association provides tools to navigate the real estate business. SUPRA service, MLS, contracts and Professional Standards. Above that basic level, the association provides advocacy for our profession and for homeowners. Q. How has participation in the association helped your business? A. It taught me that more can be achieved by combining the energy of multiple group members, leaders and experienced professionals.
you are not available. This is a huge advantage from when I first started. Emails and texts replace drive time and calls. Q. What are your goals for the remainder of your term as president? A. I want to continue to engage with the community—like our participation in Rebuilding Day. I’d like to meet our RPAC goals and increase participation. We want to get to 30 percent of our members donating at a minimum level of $15. Also, I’d like our education department to include more courses about member benefits such as MARIS, Tech Helpline and zipForm. Q. How do you see YPN and new agents helping you to achieve these goals? A. The great thing about YPN is that it is available to all members. The new agents and members of our association can get training, mentoring and support from groups like YPN. This helps to make sure all members in our association, especially new agents, are contributing members of our association.
Q. What are your thoughts on work-life balance? A. Work-life balance? It’s tough. There is a lot of crossover. Contribution to a group is part of personal sales growth. If you are doing good things for the group you can market this to your personal connections. Use technology to facilitate business when
Sean Wiegert sean.wiegert@circastl.com 15 | Summer 2016 — REALTOR® Report
Commercial Membership: An Olympic-Sized Win! By Ben Cahill President of Commercial Division, St. Louis REALTORS® Rarely, when you take that first step and decide to join a group or an organization, do you have a full understanding of the inherent value that membership will bring to your life or business. For me, that was exactly the case when I joined the Commercial Division of St. Louis REALTORS® in 2007. I initially joined the Commercial Division because I thought it was the right thing to do as a new commercial broker, and I recognized that the successful commercial leaders in the St. Louis area were all members. So, I reasoned that they knew something I didn’t and I wanted to be a part of what had made them successful. And, I must tell you, almost 10 years later, I now know it was one of the best decisions I have made in my real estate career. It was definitely an Olympic-sized win, as the benefits and opportunities have allowed me to “go the distance” in the highly competitive and cooperative real estate industry in which we all work on a daily basis. But since our lives these days—professionally and personally —are full-to-overflowing, I also understand the importance of carefully considering the value in what you are committing to before signing on the dotted line. Translation: What is the cost/ benefit ratio in relation to time and effort? As far as the Commercial Division is concerned, when you look at the big picture as to whether being a commercial member of St. Louis REALTORS® successfully meets the cost/benefit criteria, the answer would be an unequivocal, yes! Bottom line, being a member of our 600 plus Commercial Division—this year celebrating its 25th year of service in St. Louis—brings exceptional value and specific benefits in multiple areas, and it will get you to the finish line every single time. I consider the top four local benefits of membership to be: advocacy, educational opportunities, industry connection/communication and online forms. To provide you with a better idea of those benefits, let’s take a closer look at what they mean for you and your business.
16 | Summer 2016 — REALTOR® Report
Advocacy In my mind, with the political volatility we face, not only in the real estate industry, but in our country as a whole, it is absolutely critical that we all belong to a group or an organization that can represent us responsibly while we are busy making a living. There is the old adage, “If you are in business, and you are not in politics, then politics will run your business.” That is 100 percent accurate. We are all in politics—whether we know it or not—because every time our councils meet, or our state legislature or Congress is in session, our business practices and our pocketbooks are at risk. Legislation can so easily be presented and passed that is detrimental to you and your livelihood, before you even know it’s happened. It can be slipped into a bill or passed in a council reading when everyone is looking the other way. And, unfortunately, you become aware of it only when it becomes a headline in the local paper. That is why we have a local government affairs director and commercial staff at St. Louis REALTORS®, as well as representation on the state level and at the National Association of REALTORS® (NAR). They are watching out for us on a daily basis, often making sure legislation that is harmful is defeated before it even gets out of committee. Some of our most recent advocacy wins because of our staff and members’ efforts on your behalf include: Locally: • Creve Coeur Drive-Thru Restrictions – The Creve Coeur Planning/Zoning Committee had implemented an ordinance limiting the development of fast-food restaurants. Seeing that as burdensome and overly-restrictive, St. Louis REALTORS® successfully accomplished an acreage reduction and the elimination of other onerous restrictions to once again allow development of fast-food drive thru restaurants. • Bill 204 - St. Louis County Rental Licensing Ordinance – This was a controversial ordinance in St. Louis County requiring licensing for rental properties. The original language in the bill included commercial to be licensed along with
St.Commercial Louis
REALTORS®
residential properties. Through the advocacy efforts of St. Louis REALTORS® and the St. Louis Apartment Association, commercial residential properties of five units or more were exempted from this harmful ordinance. • License Collector Bill – In 2015, within the city of St. Louis, a bill was introduced to amend the powers of the License Collectors Office – Board Bill 61 – that would have required all REALTORS® who operated a business in the city to go through an arduous process to receive or retain a business license. St. Louis REALTORS® protested the bill. The result: The bill was pulled from the committee before it could hit the agenda of the board of aldermen.
vs. Own—and Commercial Law and Disorder and Tax Issues for Real Estate Investors.
Industry Connection and Communication Communication and contacts in the commercial real estate business are essential. To that end, we offer—through the efforts of our commercial staff —luncheons, meetings and special events with outstanding speakers who bring thoughtful insight and opportunity for you and your clients. Plus, we sponsor events year-round that allow you to meet, connect and engage with your commercial colleagues.
State level: • Missourians For Fair Taxation – Tax on Services - In 2016, Missouri REALTORS® is spearheading a proactive ballot issue campaign to constitutionally ban sales taxes on services, which would include your commercial real estate commissions.
Free - Online Forms and Contracts
Nationally: • 1031 Exchanges – We all understand the value of 1031 exchanges. To keep them in place has been an ongoing battle. Recently, as part of the 1031 Like-Kind Coalition, NAR commissioned a study from Ernst & Young on the macroeconomic effects of repealing IRS Section 1031. NAR continues to monitor this issue and will oppose any plans to repeal or limit its use.
There is really no question—the commercial membership benefits are all there for you. If you are currently a commercial member, you have already made one of the most valuable decisions you could make. And if you are thinking about becoming a member in 2016, know that your membership will serve you well; enhancing your business and your opportunities in ways you had never considered or imagined. It is a membership worth having, a step worth taking; it is, without a doubt, an Olympic-sized win for you and your commercial business.
We offer 25 online commercial forms, which you have access to as a commercial member. All forms are reviewed by our board attorney to confirm compliance, and can be saved online, emailed or faxed from a desktop or mobile device. As a member you also have eight free e-signing sessions.
Commercial Education Opportunities Another valuable benefit to Commercial Division membership is continuing education. The association has an educational staff that brings exceptional commercial educational opportunities, including the recently instituted dual Missouri/Illinois continuing education offerings, which now allow Missouri commercial licensees to take their Illinois CE requirements “live” in Missouri. Some of those classes offered include Pitfalls of Developing Commercial Real Estate, Real Estate User Decision Analysis—Lease
Ben Cahill ben.cahill@maune.com
17 | Summer 2016 — REALTOR® Report
St. Louis REALTORS® Give Back!
REBUILD DAY April 30 Rebuild Day had a rocky start with the rain but it didn’t dampen the spirit or determination of each volunteer who resolved to make it the best day possible for the three Pagedale homeowners. The shuttle service delivered large groups to the worksite, which expedited registration and work assignments. Groups were formed to tackle day-long tasks and many volunteers used the “buddy system” to tag team jobs that could be knocked out more quickly. Luckily, we also had several members who are skilled carpenters and assisted the Rebuilding Together house captains on the more complex installations and upgrades. With little reprieve from the elements—the volunteers stayed focused on completing the job lists for each house. With big smiles and even bigger hearts, everyone plowed through task after task. The day wrapped up after nearly eight hours of intense labor. Residents hugged, thanked and waived as volunteers left. It was an incredibly proud day for St. Louis REALTORS®! 18 | Summer 2016 — REALTOR® Report
Designations By Karen Dunn, Director of Professional Development & Project Management, St. Louis REALTORS® • Access to the members-only marketing tools and resources We’re moving into the busiest time of the year for real estate professionals. Now is the time to put together your winning team, your gold medal team. When choosing the team that will help you win the gold, keep the St. Louis REALTORS® in mind. We understand your needs and are committed to your success. This is a renewal year for all licensees in Missouri, but don’t limit yourself to only the three-hour continuing education (CE) classes – think about taking your career to the next level by earning a designation. All our designations carry six to nine hours of elective credit. Which designation is right for you? The best designation is the one that teaches you something valuable that you will use daily, builds your confidence and helps you earn more money. In the coming months, we are presenting several of our most “in demand” designations and certification courses, as well as a couple of very relevant, timely courses that will set you apart from the crowd.
MRP (Military Relocation Professional) This certification is for real estate professionals who want to work with current and former military service members. The MRP certification program educates REALTORS® about working with U.S. service members (and their families) and veterans to find housing solutions that best suit their needs and to take full advantage of available benefits and support. What you gain: • Ability to identify and provide services that help service members and veterans sell or find and purchase suitable homes • Ability to explain the basics of VA financing
ABR (Accredited Buyers Representative) This designation is for real estate buyer agents who focus on working directly with buyers at every stage of the home buying process. What you gain: • Valuable real estate education that elevates your skills and knowledge in the eyes of home buyers • Ongoing specialized information, programs and updates that keep you knowledgeable on the issues and trends facing home buyers • Access to members-only publications
PSA (Pricing Strategy Advisor) This certification is specifically designed to enhance your skills in pricing properties, creating CMAs, working with appraisers and guiding clients through the anxieties and misperceptions they often have about home values. What you gain: • The purpose and benefits of CMAs and how to guide clients through them • Terminology of pricing and valuation • The Code of Ethics as it relates to pricing • How to identify appropriate comparables, and where to find information about them • The role of supply and demand in pricing • How to adjust comparables • Specific challenges and special situations in making adjustments • How to work with appraisers • How to hone your pricing skills and practices
critical aspects of international real estate transactions, and the influential network of 2,000 professionals who turn to each other first when looking for referral partners. The CIPS designation is for REALTORS® from the United States and abroad who wish to develop or grow their international real estate business. It will provide you with the knowledge, research, network and tools to globalize your business. What you gain: • Listing in the “Find a CIPS” online directory • Customizable print postcards, web banner ads and press release • CIPS App that provides translation, area and currency conversion, time zone calculation and international holidays • CIPS resource browser toolbar • Global Perspectives print newsletter • Webinars • Access to CIPS member-only online communities • Invitations to exclusive events at NAR meetings • Referral contract form Train to be the best at what you’re passionate about—your business. Hone the essential skills to increase your knowledge while developing focused discipline and unwavering confidence. The deadline for brokers to renew is June 30, 2016; for sales agents it is September 30, 2016. As you think about self-improvement and becoming a “gold medal” agent to your current and future clients, consider tapping into all the resources your membership provides to you. REALTOR® education and training should not be limited to 12 hours of CE requirements—not if you want to be the best at what you do. Visit our website at stlrealtors.com and explore your potential!
CIPS (Certified International Property Specialist) Instantly align yourself with the best in international real estate by earning the CIPS designation. The program includes five full days of study focusing on the
Karen Dunn kdunn@stlrealtors.com 19 | Summer 2016 — REALTOR® Report
MARKET TRENDS REPORT
May 2014 - 2016
St. Louis School Districts
St. Louis City New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
2014
2015
2016
522 95 $133,950 $165,379 385
519 68 $139,750 $184,127 376
558 49 $150,000 $181,808 349
Affton School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
57 64 $127,000 $136,001 37
46 44 $128,500 $129,910 57
44 45 $125,000 $124,724 39
31 74 $106,152 $97,606 11
31 40 $116,000 $118,179 35
36 37 $124,750 $120,589 28
38 96 $135,000 $154,361 19
32 75 $176,500 $206,583 22
28 35 $208,000 $224,819 21
19 33 $60,077 $66,915 10
12 55 $79,950 $74,944 12
New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
188 102 $68,000 $88,045 130
218 79 $77,550 $87,334 114
200 66 $98,000 $106,634 135
New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
18 137 $25,000 $27,374 17
18 59 $20,195 $24,039 11
18 97 $20,375 $36,077 14
New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
109 70 $242,650 $300,039 66
142 53 $265,000 $298,634 55
96 44 $284,500 $345,980 92
89 76 $555,580 $662,325 54
88 60 $532,500 $681,708 46
82 69 $604,500 $699,067 52
91 56 $178,000 $232,058 67
115 27 $212,500 $241,893 82
88 20 $212,500 $282,251 67
Ladue School District 38 131 $460,000 $519,417 29
48 56 $460,000 $547,978 29
33 46 $410,000 $624,512 23
Ferguson-Florissant School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
18 86 $64,700 $63,786 14
Kirkwood School District
Clayton School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
2016
Jennings School District
Brentwood School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
2015
Hazelwood School District
Bayless School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
Hancock Place School District 2014
100 80 $69,500 $68,336 75
New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
Lindbergh School District 121 86 $55,900 $73,735 68
114 55 $75,000 $78,778 75
New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
Maplewood-Richmond Heights School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
37 50 $136,250 $163,847 24
27 36 $162,000 $220,966 31
Rockwood School District 21 45 $195,500 $204,503 20
204 87 $174,000 $172,461 125
197 58 $169,500 $173,678 124
188 49 $195,500 $207,144 144
Normandy School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
279 77 $286,500 $341,333 198
290 49 $334,000 $361,460 212
292 48 $335,000 $378,149 207
86 79 $283,900 $303,476 47
69 54 $229,500 $247,755 50
75 58 $267,500 $298,196 48
93 36 $230,000 $287,611 81
77 37 $226,000 $275,127 85
University City School District
Mehlville School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
Webster Groves School District 35 90 $27,469 $39,225 25
43 71 $25,000 $55,333 23
47 77 $21,250 $48,520 20
312 53 $239,900 $291,514 217
332 49 $248,940 $292,418 227
302 53 $267,500 $324,854 245
81 93 $135,000 $145,978 59
86 55 $126,500 $134,780 68
79 50 $140,130 $159,538 85
79 85 $52,101 $58,099 36
78 89 $50,000 $59,973 41
69 65 $75,000 $73,360 42
46 99 $24,900 $31,076 23
45 58 $35,250 $40,646 24
New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
108 78 $199,000 $250,461 71
Parkway School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
Pattonville School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
Ritenour School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
Riverview Gardens School District New Listings Avg. Days on Market Median Sale Price Avg. Sale Price Number of Sales
42 134 $26,750 $38,125 32
For additional comparison reports, visit our website at www.stlrealtors.com/DistrictStats.
Welcome New Members! DESIGNATED REALTOR® Trenton Doss Doss Real Estate Group, LLC Gina Lee Gina M. Lee Realty, LLC Amy Wooff Flach Wooff, REALTORS® James Stockell Stockell Realty Jacqueline Williams Archview Real Estate Janel Williams Broker’s Corner Realty Xiangyun Xiao Tenty Realty, LLC Chuijung Yeh Chuijung S. Yeh, Broker
DESIGNATED REALTOR®/STATE CERTIFIED APPRAISER Jason Joly The Williams Group
DESIGNATED REALTOR® Previously REALTOR®
Debra Bax Dutchman Realty, Inc. Edwina Conley Integrity Realty and Associates, LLC
DESIGNATED REALTOR®
Previously REALTOR®-Associate Mindaugas Adamonis Fenix Realty, LLC
Pamela Greer-Thomas Abundant Exclusive Realty, LLC Michael Uhlmeyer Uhlmeyer and Associates
Amanda Klopfenstein Investors Title Company
Darin Arnold Anton’s Air Conditioning & Heating
DESIGNATED REALTOR®
John Atwell Pillar To Post
Gary Manderschied Main Street Renewal
Robert Benner Pillar To Post
Ryan McCarthy BPG/ABA Inspections & Consulting
Secondary Member Jerrod Hopping Jer-Ren Properties Robert Hussey Expert Realty
Mark Bernard Mark Bernard Photography
George Kloster Kloster Sewer & Drain
Shelly McGrael Ultimate Xposure
Thomas Karras Marketplace Housing, LLC
Larry Dabney L.T.D Communications & Public Relations
Kyle Pittman Uptown Realty
Silvio De Oliveria The Sewer Pros
Christopher McNulty NuFlow Services of St. Louis
David Soto Soto Properties
Deanna Fasnacht Peek Interiors
Brandon Monzyk Square 1 Media Productions
Mark Fellhauer Centrue Bank
Adam Moskal Pillar To Post
Drew Frederick Pillar To Post
Robert Pavelka Inspect It 1st Property Inspection
John Friedich St. Louis Radon Test and Mitigation, LLC
David Petlansky Pillar To Post
DESIGNATED REALTOR® Dual Member
Daniel Bader Bader & Associates, Inc. Brennan Giesler Fleur-De-Lys Realty James Patton TCR Property Management Janel Williams Fresh Start Realty
REALTOR®
Previously REALTOR®-Associate
Craig Mangus Mangus Properties, LLC Duan Lee Berkshire Hathaway Home Services – Select Properties
Mollie Bixby Envision Real Estate Services, LLC
Darby Seymour Coldwell Banker Gundaker
Bahroose Goli Ethereal Realty
Paul Arnett Home Team Inspection Service
Christy Jones Midwest Basement Tech
Kristin Vogel Vogel Team Realty, LLC
Noel Bader Rainbow Village Realty, LLC
Matthew Brouder Matthew T. Brouder, Broker
AFFILIATES
Sandra Gardner American Eagle Credit Union Michael Garrison Chesterfield Radon Testing Dennis Hamilton Main Street Removal Matthew Harrer Matt Harrer Photography Matt Hawley Hawley Home Inspections, LLC Samuel Helton The Sewer Pros Daulton Hillemann Stifel Bank & Trust Gregory Iverson F & B Financial Group
Second Quarter Admission Report
Alexander McNeal Bi-State Termite
Orlando Rodriguez CMG Financial Antoine Woods Champion Courier
COMPANY NAME CHANGE Darren Buttram REI Property Group (Previously St. Louis Home Brokers) Jeremy Malensky CKE Properties (Previously Dutchman Realty Inc.) Molly Studer BBW Homes, LLC. (Previously Studer Realty LLC.)
Events July
7/1 - Board of directors nomina tions opens 7/4 - Independe nce Day, St. Loui s REALTORS® closed 7/13, 8-9 a.m. - A ffiliate Council Me eting, St. Louis REALTORS® 7/15 - Board of directors nomina tions closes
August
, Location TBD s r i a f f A n a b r U 8/4, 9-11 a.m. eeting, St. Louis M l i c n u o C e t a i l i f Af 8/10, 8-9 a.m. - ® REALTORS n opens o i t c le e s r o t c e r i f d 8/11 - Board o rum, St. Louis Fo r e k o r B . m . 8/15, 9-11 a REALTORS® cation TBD lo / e m i t , e g d E h 8/17 - Tec tion closes c le e s r o t c e r i d f 8/31 - Board o ppy hour, a h n o i t c le -e t s o P 8/31, 5-7 p.m. - BD location T
September
9/1 - Awar ds nomina tions open 9/5 - Labo s r Day, St. Louis REAL 9/16 - Awa TORS® Clos rd nomina ed tions close s To view more, visit:
stlrealtors.com/events-calendar
CAN’T CLOSE THE SALE BECAUSE YOUR CLIENTS HAVE IRS TAX LIENS? What do you do when you find out the deal you were about to close is held up, or worse, because your client has a federal tax lien filed against them? What do you advise them to do? How many more transactions could you close if your clients didn’t have IRS Problems? My practice is primarily focused on finding solutions for people with IRS problems. Many of our new clients are referrals from real estate professionals such as you.
Call Steve Shapiro today at 636-397-2759 for free consultation. stlouistaxservices.com
12777 Olive Blvd. | St. Louis, MO 63141 314.576.0033 | www.stlrealtors.com RETURN SERVICE REQUESTED
Enhanced MARIS dashboard with single sign-on New benefit coming this summer for St. Louis REALTORS®
Part of our mission is to provide members with superior tools. And harnessing technology is a consistent theme for St. Louis REALTORS®. With this in mind, we’ve been busy, working behind the scenes to make your life easier in the not-so-distant future. Specifically, we’re building an enhanced MARIS dashboard with single sign-on technology. Here’s a quick synopsis: Single sign-on (projected launch: third quarter). Your association is working with Clareity Security, zipLogix, MARIS and Missouri REALTORS® to streamline members’ online services. We’re implementing behind-the-scenes technology called “single sign-on” between stlrealtors.com, The Landing and zipForm via the MARIS dashboard. It will enable you to toggle back and forth among the web services you use everyday, without having to log into multiple platforms. This is one of several tech tools and benefits coming your way from your your association. For more information, visit stlrealtors.com.