Official Publication of the St. Louis Association of REALTORS速
速
St. Louis Association of
REALTORS速
The Voice for Real Estate in St. Louis7,000 members strong. July 2012
Volume 8 - Number 7
SLAR Is your point of entry page 17
July education schedule - p.9 Legislative Report - p.12 REALTOR速 Recognition Awards - p. 22
REALTOR® Report
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Featuring video commentary by Glenn Vatterott, SLAR President
REALTOR® News CLICK HERE to view the video.
National Snapshot In Freddie Mac’s results of its Primary Mortgage Market Survey®, the average mortgage rates are easing amid worsening economic indicators. Both the 30-year fixed and the 5-year ARM registered new average record lows. • 30-year fixed-rate mortgage (FRM) averaged 3.66 percent with an average 0.7 point for the week ending June 21, 2012, down from last week when it averaged 3.71 percent. Last year at this time, the 30-year FRM averaged 4.50 percent. • 15-year FRM this week averaged 2.95 percent with an average 0.6 point, down from last week when it averaged 2.98 percent. A year ago at this time, the 15-year FRM averaged 3.69 percent. • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.77 percent this week, with an average 0.6 point, down from last week when it averaged 2.80. A year ago, the 5-year ARM averaged 3.25 percent.
some worsening economic indicators bringing mortgage rates back into record low territory. Industrial production fell in two of the last three months ending in May, and below the expected market consensus forecast. In addition, consumer sentiment fell in June to its lowest level this year, according to the University of Michigan survey. In its June 20th monetary policy announcement, the Federal Reserve also noted growth in employment has slowed in recent months and household spending appears to be rising at a somewhat slower pace. “However, there were also some positive indicators on the housing market. Construction on one-family homes rose for the third consecutive month in May to an annualized pace of 516,000. Furthermore, homebuilder confidence rose in June to its highest reading in over five years.” Published: June 22, 2012 Reprinted with permission from REALTY TIMES at www.realtytimes.com
• 1-year Treasury-indexed ARM averaged 2.74 percent this week with an average 0.5 point, down from last week when it averaged 2.78 percent. At this time last year, the 1-year ARM averaged 2.99 percent. According to Frank Nothaft, vice president and chief economist, Freddie Mac: “Treasury bond yields eased somewhat this week on
Contents 6 16
2013 Election Information DO YOUR DUTY...
Great Summer Reads
Education
7, 9, 11
Legislative Report
12-13
SLAR Sold Stats
21
Law & Ethics
19
New members
24
Calendar of Events
24
St. Louis Association of
REALTORS
® 12777 Olive Blvd., St. Louis, MO 63141 (314) 576-0033 – main line (314) 275-7888 - education line (314) 576-7143 - fax www.stlrealtors.com
2012 Board of Directors Executive Committee Glenn Vatterott, President Donna Zerega, President-Elect Elizabeth Braznell, Vice President/ Treasurer Sue Middendorf, Secretary
REALTOR® DIRECTORS: Sandy Hancock, Member at Large Nate Johnson, Immediate Past President David Busker, Commercial DivisionPresident Dawn M. Kennedy, CEO
2012
2013
2014
Barb Keathley Bob Bax Mickey McNearney Carole Mulina Michele Sloan Mulford David Townsend L.K. Wood, III(Buddy) John D. Williams
Mike Carter Tiffany Hamilton Pat Malloy Carolyn Mantia Mike Travaglini
AFFILIATE DIRECTOR:
REALTOR® ASSOCIATE DIRECTORS:
Beale Luebben
2012
2013
2014
Mike Rouhani
LaWanda Elgin
Janet Judd
St. Louis Association of REALTORS® Staff Chief Executive Officer Dawn M. Kennedy, CEO- MSPM, RCE, e-PRO, GREEN dkennedy@stlrealtors.com Direct Line: 314-590-2319
Legislative Patty Bommarito, Executive Assistant pbommar@stlrealtors.com (314) 576-0033 ext. 318
Admissions, Grievance & Ethics Chris Woods, Senior Vice President Operations, Ethics & Professional Standards cwoods@stlrealtors.com Direct line: (314) 590-2306 Judy Partsch, Admission/Ethics Asst. jpartsch@stlrealtors.com
Commercial Division Susan Wagner, Commercial Division Vice President swagner@stlrealtors.com Direct line: (314) 590-230 Tina Luehrmann, Commercial Assistant Cheri Albers, Receptionist tinal@stlrealtors.com calbers@stlrealtors.com
Education & Room Rentals Karen Dunn, Education Director Monica Pingel, Assistant kdunn@stlrealtors.com mpingel@stlrealtors.com (314) 590- 2312 (314) 275-7888
REALTOR® Shoppe Hours of Operation Monday - Friday 8:30 a.m. – 5:00 p.m. For advertising information, please contact Foley Publications at 1-800-628-6983 or visit www.foleypub.com
Celeste Rueter, Governmental Affairs Director crueter@stlrealtors.com (314)590-2307
Olivia Pieknik, Public Affairs Coordinator opieknik@stlrealtors.com
Membership, Finance, Contracts & Forms, SUPRA & REALTOR® Shoppe Rick Capelli, Senior Vice President of Membership & Finance Tammy Williams, Membership Assistant rcapelli@stlrealtors.com Direct line: (314) 590-2313 twilliams@stlrealtors.com Kim Russell, Bookkeeper Jessica Perez, Supra Adminstrator / REALTOR® Shoppe krussell@stlrealtors.com jperez@stlrealtors.com
Public Relations Connie Chartier, Vice President of Public Relations cchartier@stlrealtors.com Direct line: (314) 590-2304
Matt Newport, Website / PR Coordinator mnewport@stlrealtors.com
Mid-America Regional Information Systems (MARIS)
1714 Deer Tracks Trail Ste. 200, St. Louis, MO 63131 (314) 984-9111 www.marisnet.com Paul Prince, President David Price, Vice President & Systems Manager pprice@marisnet.com dprice@marisnet.com Denise Bielicke, Controller Pattie Elkins, Accounts Receivable Clerk dbielicke@marisnet.com paelkin@marisnet.com Tracey Yost, Membership Manager Jason A. Darrough, Systems Support Specialist tryost@marisnet.com jdarroug@marisnet.com Robyn L. McPherson, Training Coordinator Katie Otto, Public Relations Manager rmcphers@marisnet.com kotto@marisnet.com Nikki Craig, Receptionist ncraig@marisnet.com
Commercial Information Exchange (CIE)
301 Sovereign Ct., Suite 109, Ballwin, MO 63011 (636) 230-6243 www.stlcie.com Bonnie Devine, President/CEO Judith Jakuboski, Executive Assistant bonnie@stlcie.com judith@stlcie.com
Imagine what you can do. Come unleash your real estate power at the 2012 REALTORS® Conference & Expo, where everything you need to succeed is right before your eyes. • Join 20,000 REALTORS® and guests in Orlando for the biggest real estate networking event in the U.S. • Learn new tricks to boost your business from 100 education sessions and 400+ exhibitors all under one roof. • Turn your business trip into a family vacation—Orlando’s the city of fun and home to famous theme parks! Abracadabra! Orlando is surprisingly affordable… Hotels start at just $69 a night. NAR offers discounted airfare for attendees. Plus, it’s a tax deductible investment in your career. And, four great registration options are available to fit your needs, schedule and budget: Full Conference, One-Day, Session Plus Expo or Expo-Only. Sign up today at
www.REALTOR.org/Conference Register before August 15 to take advantage of early bird savings! Connect with us and thousands of REALTORS ® who will be in Orlando at: twitter.com/narannual
facebook.com/narannual
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REALTOR® Report
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Summer Shortcuts Every time I think that “everyone knows that” I find myself surprised. I have learned that sometimes information that may seem old to me may be quite new to someone else. I was reminded of this just the other day when I showed a SLAR staff person the “press ALT 0174” trick on a laptop to quickly create the registered trademark when spelling the word REALTOR®. Following is a short and quick list of tech shortcuts (read your SLAR e-blasts for quick tech tips):
I-phone Do you have apps running in the background causing your battery to run down really quickly? Double tap the home screen to bring up a panel of recently used apps. Press and hold any app and a minus sign will appear- tap it to force the app to shut down.
your inbox, scroll over a message and press the U key.
By Dawn M. Kennedy, SLAR CEO
Droid Press shift twice to enter Caps Lock- press it a third time to exit. Need to quickly go back to where you were? Menu+J takes you back a page
I-Pad 2 Capture what’s on your screen as a photo, hold the power button and hit the home button.
Black Berry Need the help screen? Press the ALT, Left Shift and H keys simultaneously. Want to read your oldest email first? Go to
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2013 Election Information at a Glance! ATTENTION: REALTORS® & REALTOR® ASSOCIATES:
Wednesday, August 22
Now is your opportunity to get involved with your local board and have your voice heard. We will have openings available on our 2013 Board of Directors for enthusiastic REALTORS® and REALTOR® ASSOCIATES who want to help make a difference in the industry.
Online election begins for all members. Email by Association to all members of candidate’s biographies, (listed alphabetically) election date, time and online voting instructions.
The following information for the 2013 Election procedure dates and must be met in order to be a qualified applicant.
Monday, September 10
Friday, July 13 - FIRST DAY TO FILE:
All ballots must be cast electronically on or before 12:00 noon in order to be counted for the 2013 Election of Officers and Directors.
Nomination form, Agreement to Serve form and color photograph in person with the Association.
Friday, July 27 - LAST DAY TO FILE: All forms and photograph to be received by 5:00 p.m. at the Association.
Kelly Bennett of RE/MAX Gold II
To receive a nomination form, email Cwoods@stlrealtors.com
I had a property in Ballwin for $1.7 million that had been on and off the market for 9 years. The seller would not allow a for sale sign in their yard due to privacy. I was able to secure a buyer that called me off my ad in Your Next Home magazine.
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Your Audience, Your Customer, Your Lead Generation Tool! For more information call your Real Estate Account Exceutive at 314-744-5726 today.
REALTOR速 Report
Be the first pick. Stand out from the crowd by earning your GRI Designation. Your clients are more sophisticated than ever, requiring you to perform at a higher level of professionalism. By earning the Graduate, REALTOR速 Institute Designation (GRI), you will lead the pack with real-world knowledge about new technologies, laws and marketing techniques that positively affect your bottom line. Stay one step ahead of the competition. Earn your GRI.
Learn more at: missourirealtor.org July 12th - GRI 405 "Play Your Proper Role" July 13th - GRI 408 "Do It Right In Real Estate" Both courses taught by Bruce Aydt at SLAR!
Enter State logo REGISTER NOW HERE
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REALTOR® Report
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Visit us at the Board Office – 12777 Olive Blvd Creve Coeur -( 3 14 ) 576-0033
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REALTOR® Report
July Education Schedule July 16 –Mon - (9a-12p) - Short Sales This Elective class explores the components of a short sale, including critical topics that have become a larger and larger part of the “new normal”. You will learn the main documents that are relevant and in some instances, absolutely necessary to do a short sale. This class outlines what steps to take in order to ensure a successful short sale transaction.
July 16 – Mon - (1p-4p) – Surveying Basics This Elective class will teach you how to read, interpret and understand a land survey. You will learn common surveyor terms, be able to identify and understand easements and how they affect property, be able to read and interpret a “spot” and a “stake” survey, and learn the differences between the two, and walk away with several resources that will help you in your business.
July 18 – Mon - (6p-9p) – Representation Options in the State of Missouri This Core class discussed the types of agency relationship available to licensees in the State of Missouri. Students will discuss statutory issues in Missouri license law, real estate license law terms and brokerage service agreements.
July 20 – Fri - (9a-12p) – The Top 10 and Other Lists The Elective course is designed as a top 10 ten list of various components, problems and issues related to the building inspection. It is intended to demonstrate with humor and practicality, examples of these issues in photographs and graphics. This is a fun way to learn about serious situations that can impede a sale.
July 24 – Tues - (6p-9p) – Code of Ethics, the Law & Your Biz In this Elective class, learn the parallels and differences between license law & MREC Rules & Regulations as compared to the Code of Ethics and be able to raise the standards of their practice to meet the highest standard required to serve clients & customers. This course also satisfies NAR’s Quad 3 Ethics requirement.
July 27 – Fri - (9a-12p) – Uncovering Coverage for Home Warranty This Elective class will take the confusion and complication out of home warranties so you can effectively assist your clients with the utmost professional advice. The class will provide detailed information on what a home warranty covers. Since home warranty usage is now a customary part of most real estate transactions – it has become more and more important for real estate agents to be knowledgeable of this service.
July 28 – Sat - (9a-12p) – Fair Housing for the Residential Real Estate Professional In this Core, class a review of Fair Housing regulations, including information on appropriate advertising, a review of potential violations and misunderstandings of the Fair Housing Act and information on the National Fair Housing Alliance Trends Report citing specific violations.
July 28 – Sat - (1p-4p) - Behave Yourself: The Code of Ethics This Elective course looks at the REALTOR® Code of Ethics. Students will learn about the structure and how it is prioritized. This course also looks as the Pathways to Professionalism and how it differs from the Code of Ethics. This course also satisfies NAR’s Quad 3 Ethics requirement.
REGISTER HERE http://ims.stlrealtors.com/scripts/mgrqispi.dll
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REALTOR®Report Report | 10 |8| REALTOR®
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How Does It Work? — Borrow as often as desired, up to your credit limit — Only pay for what you use — Make easy-to-manage minimum monthly payments — Borrow again and again, as you pay your balance — If you don’t use your Line of Credit, pay nothing! — No Annual Fees How Do I Access Funds? You can transfer funds from your Professional Development Line of Credit to your REALTORS® FCU checking account or an account with another financial institution online. Simply use your REALTORS® FCU Debit Card to pay for your education expenses or write a check from your checking account. How Do I Apply? — Sign into Online Banking for a loan application — Not a member yet? Apply at: www.RealtorsFCU.org What Is The Loan Rate? — For current rates, visit us at: www.RealtorsFCU.org — Call Member Care 24/7 at: 866.295.6038 Federally Insured By NCUA
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MREC’s ANNOUNCES NEW VENDOR FOR FINGERPRINTING All existing licensees, including inactive licensees, must be fingerprinted and authorize the results be provided to the Missouri Real Estate Commission before submitting their 2012 real estate renewal application. Effective July 1, 2012 - MREC ‘s new the statewide vendor will be 3M/Cogent. To be fingerprinted through 3M/Cogent, you must first register with the Missouri Automated Criminal History Site (MACHS) at www.machs.mo.gov. Individuals without access to the Internet may contact 3M/Cogent directly at 1-877-862-2425 to have a Fingerprint Services Representative conduct this registration on your behalf. Appointments can be made starting June 25th. You will need to provide the MREC’s four-digit registration number, 0004, in order to schedule an appointment. This will authorize the Missouri State Highway Patrol and the FBI to send the results to the Missouri Real Estate Commission. For your convenience, you will be able to select from at least 52 locations across the state, with all sites offering night and/or weekend hours. Photo ID is required - with acceptable forms being a valid driver’s license, military ID or passport. The fingerprinting process will take approximately 10 minutes. Effective July 1, 2012, the fee will be $44.80 -3M/COGENT receives $8.30; the Missouri Highway Patrol receives $20.00; and the FBI receives $16.50. The Missouri Real Estate Commission does not receive any portion of the fee. When registering online, you can pay by credit or debit card, or you can pay on site with a check, money order, or cash (must be exact change).
.org NAR is The Voice for Real Estate®
Have you visited us lately?
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Webster Groves Proposes Vacant Building Registration On June 19, 2012, the City of Webster Groves introduced legislation which would require registration of vacant commercial buildings and the payment of a fee if they have been vacant for at least 365 days. It is the policy of the St. Louis Association of REALTORS® to oppose legislation which requires registration of vacant property and the imposition of fees for such registration. This policy is based on the experience of our members which shows that these types of ordinances do not generally produce the intended results and from our belief that the mandatory inspections (without a change in occupancy) that often accompany vacant building registration are unconstitutional. The City of St. Louis has had a vacant building registration program for over a decade, as have several municipalities located in the northern part of our county. The City of St. Louis itself still owns more than 11,000 vacant properties. We don’t believe that meets the criteria for success.
Other provisions in the bill which are of concern to SLAR are as follows: • Requiring registration simply because property is vacant, not because there are exterior code violations. If the property currently meets the established code of Webster Groves, why is registration necessary? • Mandatory inspections of interior without a change in occupancy. Inspections should not be conducted without consent. SLAR’s legal counsel believes this is unconstitutional as a violation of
the 4th Amendment. • If the owner consents to an inspection, the ordinance would require that the property be brought up to occupancy-ready status within 60 days. If a property is not scheduled for immediate occupancy, this requirement is a costly and unnecessary burden. Many of the repairs that would be made to meet this requirement would be torn out when a new tenant or owner took possession. In addition, even if the owner does comply by correcting all code violations, the property will still remain on the registry, simply because it is vacant. There are no incentives for compliance. • Vacant Building Listing. This provision is of concern because it involves mandatory listing of private property information by the city. It essentially forces owners to market their properties whether they are interested in selling or not. While the intention of turning long vacant property to productive businesses is a good one, this is a gray area at best with respect to advertisement of property information by the City. The activity could still be construed as the practice of real estate by the City. if there is to be marketing of sales/lease data, a partnership with commercial brokers where there is a voluntary agreement between the City and commercial brokers to market property would be the preferred arrangement. • There is an exemption for properties which are actively being marketed, but it is only 6 months, which in the commercial realm is minimal.
• Requiring vacant storefront windows to be covered raises concerns about safety and the ability of law enforcement personnel to see into properties. • As written, property managers or agents would be held responsible for violations of the ordinance. Property owners alone should be subject to penalties imposed by the City, not property managers or agents, as owners are responsible for making the final determination on whether or not to comply with the ordinance. At this point, a letter expressing the concerns of the Association, a letter from SLAR legal counsel, Steve Murphy, as well as several letters from SLAR commercial members have been submitted to the Mayor and City Council members. SLAR Governmental Affairs Director Celeste Rueter and SLAR Commercial Division member Peter Newton spoke in opposition to the ordinance at the June 19 council meeting. The ordinance was scheduled for first and second readng on the 19th. Following the expression of SLAR’s concerns, the second reading was postponed and several changes to the bill were ordered. The bill is scheduled for a second reading on July 17th. SLAR will continue to work to prevent the passage of this bill. if you are a REALTOR® and a business owner in Webster Groves or a resident of Webster, please consider coming to the July 17 council meeting to stand with your fellow members in opposition to this onerous ordinance. Stay tuned for further updates.
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Legislative Report Flood Insurance Gets Short-term Extension On May 24, 2012, the Senate approved a 60-day extension of the National Flood Insurance Program under an agreement between Senators Reid and Vitter. Because the Senate amended H.R. 5740 to include 60 rather than 30 days, the House revisited the bill less than a week later on May 30, 2012 and passed a 60-day extension of the National Flood Insurance Program (NFIP). Under the terms of this agreement, in June, the Senate will also bring up and vote on the 5-year Flood Insurance Reform Act.On June 21st the senate voted 96-2 for procedural debate to begin. SLAR will update the membership as to the progress. The short-term extension bill was being held up in the senate by Senator Tom Coburn (R-OK) who threatened to let the NFIP shut down unless his demands were met regarding federal tax dollars subsidizing vacation homes. To meet these demands, the Senate agreed to a provision that creates a 4-year phase-out of rate subsidies on non-primary residences. While the first step increase is currently scheduled to take effect on July 1, 2012, the rest of increases would not be fully phased-in for a minimum of 4 years.
CFPB Delays Qualified Mortgage to Get More Data
seeking additional information on loan performance with regard to Debt to Income (DTI) ratios and a few other factors. This is widely believed to be part of an effort to further develop a (DTI) test as part of the Qualified Mortgage (QM) test.If a lender meets the test and makes a QM, they will receive yet to be determined legal protections if a borrower challenges whether they met the ability to repay requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. In addition, the CFPB is seeking data on the litigation risk of giving a “safe harbor” for those who meet the QM test or a “rebuttable presumption.” The safe harbor is widely viewedas a better protection against litigation risk because if a safe harbor is met, the legal case ends there in an early stage. With a rebuttable presumption, the borrower must merely allege facts to rebut the presumption in order to continue the litigation often at great expense to the lender. It is thought that if there is not a safe harbor, lenders will tighten credit and stay well within the QM test whereas with a safe harbor they would lend up to the limits of QM in most situations.The QM is widely expected to be the standard for lending for years to come. (Sections reprinted with permission from the National Association of Realtors®)
On Thursday May 31, 2012, the Consumer Financial Protection Bureau (CFPB) announced that it would be
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“APPY HOUR” Learn Today’s Hottest REALTOR®, Business and Personal Apps + Open Mic—Show and tell what you know!
Complimentary Cocktails & Appetizers– Sqwire’s Annex 1415 South 18th Street – Historic Lafayette Square
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Summer Time Safety Tips It’s that time of year again. The weather has heated up, schools are out for the Summer, and your pool is getting daily use. Follow a few simple rules and keep everything cool and safe this season. Swimming can be a great way to spend time with your family and friends as well as get some much needed exercise, but how can you enjoy the perks of a pool while keeping your family safe? According to the Consumer Product Safety Commission (CPSC), 77 percent of reported fatalities were in children younger than 5 years of age. Two-thirds of fatalities were boys under the age of 15. This means extra vigilance needs to be taken with children who spend time around pools. There are a few simple tips that can help you avoid accidents. The single most important issue is having adult supervision at all times. Never leave chil-
dren unattended in or around a pool, not even for a few seconds. This is especially important when there are distractions, such as other guests, phone calls, or multiple children. If you employ a babysitter, be sure that they know the importance of staying focused and alert around pools. Accidents happen quickly. All adults and caregivers should also be trained in CPR. Your local Red Cross organization most likely offers classes. If you live in a remote area, then consider taking an online class. All children should be trained in what to do in the case of an emergency. Sometimes only a child is present when an adult needs help. Show them the basics of using flotation devices as well as how to call 9-1-1. Additionally, even young children can be taught to swim. Sign them up for community classes or if you are a swimming pro, you could take on the task yourself. Knowing how to swim
is the first step in preventing drowning. In order to deter children from playing in pools without permission, be sure that you have childproof locks on your doors that lead outside and that no toys are left in or around the pool area. Install a good pool cover. Perhaps best of all, install a safety fence and gate around your pool until children are of an age you can trust they’ll keep curiosity under control. Not all safety tips are about children, though. Adults and teenagers should be careful to keep horseplay, running, and diving to a minimum. It’s also important that adults are careful to avoid mixing alcohol and pools. Impaired swimmers can be a danger to themselves and those around them. Follow these simple steps and you’re on the way to a safe ... and fun ... Summer pool season! Published: July 5, 2012 Reprinted with permission from Realtytimes.com
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WOMEN’S COUNCIL OF REALTORS® Get Connected—Stay Connected
In today's changing marketplace—with demanding customers and tough competition— you can’t do it alone. Not only do you need to be connected to the top professionals in the industry, but also to the cutting-edge training, real estate industry information and wealthbuilding strategies that will build your business and secure your future. Women's Council taps you into powerful programs that yield tangible results for you and your business —as well as networking and referral opportunities at the national, state and local levels. Networking and Referrals Your Women’s Council membership will open up a whole new world of networking opportunities through local chapter programs and special events. In addition, the backbone of our member network is our online Referral Center.
2012 Midyear Membership Drive Underway For more information on becoming a Member, visit www.wcr.org or contact Ryan Shaughnessy, VP of Membership at Ryan@PREASignatureRealty.com or (314) 971-4381 or Klaus Bank, Membership
Chair, at KlausBank657@gmail.com or (314) 920-3986.
Each member receives a free Member Expertise Profile with color photo in the Referral Center to capture industry involvement and community leadership, as well as professional specializations, cities served and education. This is a free form of personal advertising that will be used to determine a member’s area of expertise for referrals, speaking and interview opportunities, organization appointments and more. If you are already a member, simply log in at www.wcr.org now and visit Update My Member Expertise Profile. Members can also enhance their Referral Center experience and really stand out from the competition with banner advertising. Performance Management Network
“Professional training so powerful, it'll keep your competition up at night.”
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Great Summer Reads SLAR has been tweeting online downloadable e-books which feature social media tools. Following is a list of e-books that may propel your summer business:
New Research: Lead Generation Lessons From 4,000 Businesses http://t.co/1mYgkE5
How to use Google for Business http://bit.ly/szGChF
How to use Pinterest for Business http://bit.ly/zUgcVI
Keepers of the Castle http://bit.ly/NmVJgX
Remember you have access to over 2000 e-books with your NAR membership http://bit.ly/O8lo1D
Thanks a Billion, St. Louis!
2012 USA MORTGAGE TOP LOAN OFFICERS
Ken Rosenthal NMLS: 237670 MO: 7890-MLO
NMLS: 240288 MO: 1028-MLO
Tom Sinak
Mark Cooper NMLS: 238015 MO: 420-MLO
NMLS: 271127 MO: 493-MLO
Jim Uxa
Drew Luning NMLS: 237712 MO: 430-MLO
NMLS: 237662 MO: 251-MLO
Ron Mueller
Shawn Kerley
Matthew Hansard
Jeff Pfitzer
Tom Rosenthal
Ken Rosenthal
NMLS: 237720 MO: 1225-MLO
NMLS: 237670 MO: 7890-MLO
NMLS: 227823 MO: 664-MLO
NMLS: 237766 MO: 1977-MLO
NMLS: 232684 MO: 835-MLO
Amy Wolf
NMLS: 230005 MO: 1356-MLO
12140 Woodcrest Executive Dr. • Suite 150 St. Louis, MO 63141 www.usa-mortgage.com
“Thank you to all of our loan officers for a third straight $1 billion year and for making USA Mortgage the #1 mortgage lender in the St. Louis metropolitan area.” Doug Schukar, President / CEO
DAS Acquisition Company / USA Mortgage
REALTOR® Report
SLAR is the “Point of Entry” In this age we live in, it often takes a little effort and know-how to avoid being left in the ditch along the “information superhighway.” Which brings us to the topic of this article - understanding how the various databases - and there are quite a few - are updated here at the Association. There six databases most members of the Association need to be aware of: • St. Louis Association of REALTORS® database - this is just what it says. The membership database of the St. Louis Association of REALTORS®. If you are a REALTOR®, residential or commercial, or an affiliate, your information is in this database from time you joined SLAR. • SUPRA - the database for all REALTORS® and Affiliates who use the SUPRA system • National REALTOR® Data System (NRDS) - the database used by the National Association of REALTORS® (NAR). It contains membership data for all REALTORS® nationwide. All REALTORS® are members of NAR. • M id-America Regional Information Systems (MARIS)- The MLS system (remember we are referring only to membership and user information -- not listings--in this discussion) • C ommercial Information Exchange - (CIE) - The commercial real estate listing service (again user and membership data only is relevant) • M issouri Association of REALTORS® (MAR) - The state association located in Columbia, Mo. Most SLAR members are also members of this state association.
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by Rick Capelli Senior Vice-President-Finance and Member Records
Now that your head is spinning, let’s get to the point quickly. For SLAR members, for all the aforementioned databases, it’s one-stop shopping. In other words, SLAR is the data “Point of Entry” for all these entities. If you change your e-mail address or home address, you need only to update the Member Records Department at SLAR. Those changes will automatically populate the other databases that are applicable to you in terms of services you are using IE. SUPRA key holder, CIE participant etc. You don’t have to contact any of these organizations individually -- other than SLAR. For brokers and office managers it’s especially important (and convenient) to use SLAR as the “point of entry” when updating your roster on the status of your agents. New agent information, transfers to or from other companies and drops should all be done through SLAR. SLAR will update each database MARIS, SUPRA, NRDS, CIE and MAR seamlessly. This is all done in cyberspace through the power of the Internet and Rapattoni, the national software vendor used by SLAR for its internal data system. It is critical to update all roster and individual membership information on a timely basis - for two reasons. First, it keeps all data in the system accurate for everyone. Second, it stops (or starts) billing of services from these various entities. Example: If an agent is no longer with your office and their license is sent back to the Missouri Real Estate Commission, a simple fax or e-mail to SLAR will make that agent inactive with SLAR. However, it will also update MARIS and SUPRA’s records as of that date if the agent is a par-
ticipant in the MLS and a key holder. NRDS and MAR also pull their information directly from SLAR’s data and the member would be dropped with those organizations as well the same day. Speaking of the MREC, there is one final footnote to this discussion. That is the one entity SLAR does NOT interface with, in terms of membership data. If you send correspondence to the MREC, to update any kind of information on a licensee, SLAR must be contacted separately.
Navigating Thru FHA’s Preforeclosure Program
REALTOR® Report
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St. Louis Association of
REALTORS®
Thursday July 26th 1 - 3 pm The St. Louis Association of REALTORS® Presents: NAR’s FHA Preforeclosure Sale Program Training for Real Estate Professionals Thursday, July 26th @ SLAR’s Education Center 12777 Olive Blvd Registration 12:30p.m. Webinar 1-3p.m. Q&A via telephone with HUD Narrator Luke Harry at 3p.m.
Complimentary Wine & Cheese Reception follows the event To register please visit www.stlrealtors.com or fill out the information below
________________________ Name ________________________ Phone ________________________ Email _______________________ Number of Reservations Register @ www.stlrealtors.com Fax form to 314-576-7143 or email cchartier@stlrealtors.com
Join us at SLAR on Thursday, July 26th as we broadcast NAR’s FHA Preforeclosure Webinar. This FREE Webinar will identify: • REALTOR® "Best Practices when utilizing FHA's Preforeclosure Program. • Benefits, features, and qualification criteria for FHA's Preforeclosure Program. • The difference between the market/appraised value for a property and the minimum acceptable net sale proceeds. In addition to this FREE webinar, HUD narrator Luke Harry will via telephone take questions from the audience at 3p.m. Call 314-576-0033 for more information.
REGISTER TODAY! SEATING LIMITED Sponsored By
REALTOR® Report
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Law & Ethics Too Much Help? The real estate license allows REALTORS® to practice real estate law without the benefit of a license to practice law. The real estate license serves as the conduit for the representation to take place. As a long-time association executive I have received numerous calls over the years (as has my staff ) for assistance in filling out real estate contracts and forms. Under no circumstances can association staff offer advice on this matter; advice of this nature is LEGAL advice. As a general rule most association staff does not hold real estate licenses. They have no authority under Missouri law to engage in this practice of law (even with a license assisting members in forms completion is acting outside of the scope of the association’s responsibilities as the association cannot assume the liability for agent supervision). Your broker is always the first and best option for real estate advice in completing a form. Brokers who are uncertain about a form have the option of using Missouri Association of REALTORS legal hotline which is available here http://missourirealtor.org/memberresources/risk-management-tools/legal-line/ It is important to remember that the real estate license allows the member to practice law in a very narrow field specific to the real estate transaction. Article 13 is as follows: REALTORS® shall not engage in activities that constitute the unauthorized practice of law and shall recommend that legal counsel be obtained when the interest of any party to the transaction requires it. Below is a real case from the NAR Code of Ethics and Arbitration Manual which demonstrates such: Client A dropped in to see his friend, REALTOR® B, who had recently provided professional services to Client A’s company. Client A said the company was sending him on business to the Far East; that the trip would involve a good deal of air travel in remote areas; and that he would like
to leave a power of attorney with his wife while he was gone “just in case.” He asked REALTOR® B if he would prepare a power of attorney for him and REALTOR® B said, “It’s a simple document. I’ll be glad to prepare one for you,” and did. This action came to the attention of the Grievance Committee of the Board of REALTORS®, which, after review, filed a complaint with the Board’s Professional Standards Committee, charging REALTOR® B with a violation of Article 13 of the Code of Ethics. REALTOR® B’s defense was that he understood Client A’s request to be essentially for a real estate service since from his general knowledge of Client A’s personal affairs, he knew that Client A could have no reason for giving his wife a power of attorney except to put her in a position to act in real estate transactions. He contended that because his preparation of a legal document was directly related to real estate matters, he had rendered real estate, not legal, services to Client A. It was the judgment of the Hearing Panel that REALTOR® B’s defense was without merit; that by preparing the power of attorney, he had engaged in the practice of law in violation of Article 13 of the Code. Reprinted with permission from the National Association of REALTORS®
By Dawn M. Kennedy, SLAR CEO
SLAR Sold Stats
RESALE (EXISTING) HOME SALES St. Louis City/County May
Single-Family Units
Condominium/Cooperatives
Active Listings (includes unsold homes) Sales Pending (Under Contract)
Number of Bedrooms
Number of Bedrooms
2 or less
3
4+
Total
2 or less
3
4+
Total
Single-Family Listings
Condo/Co-op Listings
Single-Family Listings
Condo/Co-op Listings
End of Month
End of Month
End of Month
End of Month
Under 29999 30000 - 39999 40000 - 49999 50000 - 59999 60000 - 69999 70000 - 79999 80000 - 89999 90000 - 99999 100000 - 119999 120000 - 139999 140000 - 159999 160000 - 179999 180000 - 199999 200000 - 249999 250000 - 299999 300000 - 349999 350000 - 399999 400000 - 449999 450000 - 499999 500,000 - 549,999 550,000 - 599,999 600,000 - 649,999 650,000 - 699,999 700,000 - 749,999 750,000 - 799,999 800,000 - 849,999 850,000 - 899,999 900,000 - 949,999 950,000 - 999,999 1,000,000 - 1,249,999
109 27 13 8 16 16 12 10 30 21 17 16 5 6 3 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0
79 38 24 17 19 21 15 23 38 50 44 51 34 61 37 20 12 3 0 4 0 0 0 1 1 0 0 0 0 0
15 5 2 2 5 8 9 7 9 16 21 19 26 57 53 44 39 22 21 14 6 7 5 4 5 1 1 1 3 4
203 70 39 27 40 45 36 40 77 87 82 86 65 124 93 65 51 25 21 18 6 7 5 5 6 1 1 1 3 4
10 2 6 6 9 10 8 9 9 13 10 8 4 7 6 1 1 1 3 4 0 0 0 0 0 0 0 0 0 0
0 0 1 1 1 2 0 1 5 3 9 4 1 4 6 0 2 1 1 3 0 0 2 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 1
10 2 7 7 10 12 8 10 14 16 19 12 6 11 12 1 4 3 4 7 0 0 2 0 0 1 0 0 0 1
120 40 52 44 45 39 62 38 85 115 92 104 71 109 73 47 46 25 28 25 21 16 8 8 10 2 7 7 6 13
4 3 6 6 2 14 16 10 30 20 28 22 6 30 15 10 7 5 1 1 3 4 2 0 1 0 0 0 0 0
111 42 39 23 28 33 27 20 43 57 46 38 34 73 52 37 28 10 9 8 9 11 6 5 3 1 6 0 3 4
4 1 3 3 8 3 9 4 7 13 8 6 1 13 7 3 4 3 1 0 0 2 1 2 0 1 0 0 0 1
1,250,000 - 1,499,999
0
0
6
6
0
1
0
1
7
1
0
1,500,000 - 1,749,999
0
0
2
2
0
0
0
0
2
0 0
1
1
1,750,000 - 1,999,999 2,000,000 - 2,999.999 3,000,000 or over Totals
0 0 0 310
0 0 0 592
0 0 0 439
0 0 0 1341
0 0 0 127
0 0 0 48
0 0 0 5
0 0 0 180
6 10 2 1385
0 1 0 247
1 0 1 810
0 1 0 110
2010 - 2012 Average Price and Homes Sold | 2010 Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2011 Average Price Homes Sold Median Price Month $161,133 702 $115,000 Jan $161,133 867 $109,000 Feb $161,133 1354 $132,000 Mar $161,133 1484 $134,950 Apr $161,133 1741 $145,000 May $161,133 1511 $165,000 Jun $197,225 1035 $145,000 Jul $182,918 1045 $135,000 Aug $183,892 1057 $127,500 Sep $180,930 976 $117,325 Oct $175,938 913 $123,625 Nov $181,462 1005 $128,900 Dec $172,430 13690 $130,450
Area 1-349 Residential, condo/cluster Coop
2012 Average Price Homes Sold Median Price Month $162,201 696 $106,000 Jan $173,312 746 $119,000 Feb $156,720 1086 $110,000 Mar $180,359 1058 $129,450 Apr $183,562 1243 $133,600 May $194,131 1538 $137,250 Jun $192,528 1202 $142,125 Jul $188,043 1327 $134,000 Aug $168,959 1207 $119,000 Sep $161,781 1041 $115,000 Oct $168,596 1059 $114,900 Nov $167,796 1068 $110,250 Dec $174,832 13271 $119,000
Average Price $152,816 $149,274 $163,878 $178,169 $182,197
Homes Sold 827 966 1194 1242 1521
Median Price $90,000 $100,000 $110,000 $125,000 $140,000
$165,267
5750
$110,000
Pending 513 551 699 725 920
REALTORÂŽ Report
News Flash How to Edit Agent Roster Information in Matrix Agents, Brokers and Office Administrators have the ability to Edit Agent Roster Information from the Input tab in Matrix. Click the blue Input tab in Matrix and then click the Edit Existing link under the Roster section (located just below the Listing section). The next screen will allow you to enter the Agent Id you want to modify and click the Modify button (or search for the agent if you need to). The next screen will give you a blue link that says Agent Form – click on the link to access the screen with the agent information that can be modified. Be sure to click the
blue Submit Agent button at the bottom of the screen to save any changes!
MARIS MLS Help Desk: For help with MARIS MLS, contact the MLS Help Desk by email ( support@marisnet.com ) or call 314-984-9111, 8:30 a.m. to 5:00 p.m. (cst), Monday through Friday. For additional Matrix Support, contact the Matrix Technical Support Group at matrixsupport.tsft@corelogic.com or call 800-899-2936 (choose option 4), 11 a.m. -7 p.m. (cst), Monday through Friday.
5 Year Inventory Chart
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REALTOR® Report
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North County Economic Summit The St. Louis Association of REALTORS’® first Economic Summit meeting will be held from 8:30 – 9:30 am on July 11, 2012 in the City of Florissant’s Council Chamber, located at 955 rue St. Francois, Florissant MO 63031. The purpose of this meeting is to give Brokers the opportunity to discuss topics of interest as well as give the City leaders – the Mayor
and staff, a chance to share valuable information with you on their City’s new developments, programs etc. We have also invited a representative from St. Louis County Housing Consortium to speak on the various housing programs available for home buyers. SLAR does plan to host similar Broker’s Summit in the South, East and West areas. However, all Brokers
who would like to learn more about the North County area are welcome to attend our Broker’s meeting on July 11. Refreshments will be provided; you will also have an opportunity to win a $25 gift certificate from SLAR’s REALTOR® Store. To RSVP, please email Connie Chartier at cchartier@stlrealtors. com or call 314.590.2304.
DO YOU KNOW SOMEONE GREAT? MAYBE YOU SHOULD NOMINATE THEM FOR AN AWARD! The 2012 REALTOR® Recognition Awards will be given at the Association’s annual Installation, which has been scheduled for October 18, 2012, at the historic Chase Park Plaza Hotel beginning at 11:00 a.m. Applications for the following award categories are now available: • REALTOR® of the Year • Manager of the Year • REALTOR®-Associate of the Year • Charles H. Eyermann, Jr. Distinguished Service Award • Affiliate of the Year • Jack Goldman Lifetime Achievement Award In order to have your nomination form considered, you must complete a new application. Prior applications will not be valid. Nominations forms are available on the Association’s website at www.stlrealtors.com or contact the Public Relations Department at (314) 5760033. Deadline for submitting is August 31, 2012.
REALTOR Housing Assistance Fund's nd 速
St. Louis Association of
REALTORS速
2 Concert For
Annual
ArtCause
a t S s t e k c Ti Just $15! At
Featuring avier im J K & endoza M assie M Tuesday October 30th Sheldon Concert Hall Call 314-576-0033 for tickets
REALTOR® Report
Calendar of Events July 4
August
Independence Day SLAR Closed
2
5 WCR Luncheon Maggiano’s Little Italy 6
16
September
WCR Luncheon Maggiano’s Little Italy YPN Social Networking Event BlackFinn American Grill
SLAR Closed 8:30 a.m. – 2:30 p.m. Staff Training
3
Labor Day SLAR Closed
6 WCR Luncheon Maggiano’s Little Italy 19 - 21 MAR Business Conference Lake of Ozark, MO
18 YPN- Technology Roundtable SLAR Education Center 26 FHA Webinar SLAR Education Center
Welcome New Members
DESIGNATED REALTOR® Craig A. Fennell, Craig A. Fennell, Broker Fred A. Kratky, Fred A. Kratky, Broker Joel A. Montgomery, Jr., Montgomery Real Estate Brokerage, Inc. Inita Shepard, Inita Shepard, Broker Gary R. Smith, GRS Realty
DESIGNATED REALTOR® STATE CERTIFIED APPRAISER James E. Armour, Schulte’s Appraisal Services, Inc. Debbie Freukes, Debbie Freukes, Appraiser Eric L. Rodenberg, Rodenberg Appraisals
Steven A. Friedman, STL Appraisals
Derek Zasaretti, 1823 Properties LLC.
DESIGNATED REALTOR®
DESIGNATED REALTOR® SECONDARY MEMBER
(Previously REALTOR®)
Michelle S. Silies, Red Key Realty Leaders St. Louis
DESIGNATED REALTOR® (Previously REALTOR® ASSOCIATE)
Michael J. Cozad, MD Real Estate Advisors Michael G. Gibson, Keller Williams Realty STL Phyllis C. Grey, Grey & Associates Real Estate Jun Liang, Jun Liang, Broker Lena Like, KRB Realty Yvonne D. Littleton, DeFore One Realty
Robert L. Adams, Adams Appraisal, LLC
(Primary membership is with the Cape Girardeau County Board of REALTORS®)
REALTOR®
(Previously DESIGNATED REALTOR®)
Nicholas J. Sepac, MORE, REALTORS®
REALTOR® DUAL MEMBER
AFFILIATE Daniel Dobinsky, PNC Mortgage Christopher Drain, Christopher Drain Photography Russ Miller, Pulaski Bank Stan Murray, Centrue Bank Mimi Brandt, Nations Title Bill Heft, Wells Fargo Home Mortgage
Michelle S. Silies, PREA Signature Realty
COMPANY NAME CHANGE
Michael J. Cozad, Cozad Commercial RE Group
(Previously Realty Rover, LLC)
(Primary Membership is under Red Key Realty Leaders St. Louis)
(Primary Membership is under MD Real Estate Advisors)
Christine M. Runion, Runion, REALTORS® Lawrence G. Schmidt, Schmidt Real Estate
(Previously Home Builders Real Estate Co.).
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