Connections Central Massachusetts Association of REALTORS®
March 2016 Inside this Issue: PRESIDENT’S MESSAGE President’s Message
1
Month at a Glance
2
RENE Certification
3
Scholarship Awards
4
NAR Flood Insurance
4
Top Producer Awards
5-7
Membership News
9
Code of Ethics Training
10
Happy March CMAR! Do I dare say winter is over? Some may have been off to a slow start for 2016, but I have spoken with many REALTORS® and business is on the move! These mild temps allowed February to really start the Spring Market. Inventory is still low in most communities. Multiple offer situations are happening more and more. It can be stressful for buyers and REALTORS®. Remember we are all in this together -- Be kind.
Professional Development 11-13 Affiliate Appreciation Night
14
CMAR Awards Luncheon
15
Discovering Commerical RE
16
REALTOR® Night at Fenway
17
Golf Tournament
18
CREST
19
Local Market Update
20
Legal Hotline
21
Koffee with Kris
22
CMAR Mission Statement The purpose of the Central Massachusetts Association of REALTORS® is to: * Provide REALTOR® members with the resources that enable them to serve the public in an ethical and professional manner * Take an active role regarding issues affecting sellers, buyers, tenants and landlords.
We’re rounding out the first quarter of 2016 with a great month of programs! We’ve got Committee Trivia Night this Thursday for our committee members to get to know one another and have some fun. “Koffee with Kris” is Friday, March 5th, at 9am. Come say Hi and let me know how you are doing. Wednesday, March 10th is our Healthy Housing Summit for Worcester which has been filled to capacity by our members. I have been so excited about this event since I first heard about it. Due to the overwhelming response we will be looking into having another event this year. Rounding out the month is our Affiliate Appreciation Night on March 24th at the Worcester Club. Please come and show your support to our awesome affiliates that are an essential part of CMAR’s success. Wishing everyone a prosperous and wonderful month! Best,
Kris
Kris Koliss 2016 WRAR President
Central Massachusetts Association of REALTORS® 1 www.cmarealtors.org
CMAR MONTH-AT-A-GLANCE March 2016 Sunday
Monday
Tuesday
Wednesday
Thursday
Friday
Saturday
1 9 Gov’t Affairs 11-1 Lunch & Learn w/Fairway Mortgage
2 9 Membership Comm 1-3:30 Code of Ethics
3 4-6 Committee Trivia Night
4 9-10 Koffee w/ Kris
5 8-12 Pre-License Class
8
9 9:30 Finance 10:30 BOD 12-2 Lunch & Learn w/Prestige Mortgage
10 8:30-12 Investment Property Summit @ Holy Cross
11 9:30-3:30 MLS PIN Training
12 8-12 Pre-License Class
13 Daylight Savings 14 8:30-11 DR Breakfast 5:30-9:30 PreLicense Class
15 12-2 Lunch & Learn w/RMS
16 17 St. Pat’s Day 8:30-1 New Member Orientation
18 12-2 Lunch & Learn w/Peoples Home Loans
19 8-12 Pre-License Class
20 Spring Arrives!
21 5:30-9:30 PreLicense Class
22 10-4 CEU’s @ Crest & Fidelty Leominster
23 12-2 Lunch & Learn w/Wintrust Mortgage
24 9-5 RENE Cert. 5:30-7:30 Affiliate Appreciation Night @ The Worcester Club
25 9-5 RENE Cert.
26 8-12 New Session Pre-License
27 Easter Sunday
28
29 9:30-3:30 MLS PIN Training
30
31 12-2 Lunch & Learn w/Norcom Mortgage
6
7 5:30-9:30 PreLicense Class
Save the Date! Thursday, April 14, 2016 CMAR Awards Luncheon at the Wachusett Country Club Thursday, June 23, 2016 CMAR Golf Tournament at the Wachusett Country Club
countrybank.com 1-800-322-8233 Member FDIC Member DIF
Central Massachusetts Association of REALTORS® 2 www.cmarealtors.org
RENE CERTIFICATION CLASS
Instructor, Barbara Fairfield of Dynamic Directions
Days/Dates: Times: Place: Early bird: Regular Non-members:
Thursday & Friday, March 24 & 25, 2016 9:00 am - 5:00 pm Central Mass. Assoc. of REALTORS速 492 Washington Street, Auburn, MA $275 until March 1 $295 after March 1 $325
Friday Luncheon Sponsored by:
Requirements for certification: http://www.whatisrebi.com/our-credentials/rene/
Central Massachusetts Association of REALTORS速 3 www.cmarealtors.org
WRAR SCHOLARSHIP AWARDS REALTORS® - If you apply and are granted a scholarship, you can be reimbursed for the RENE Certification Course after you take it. APPLY TODAY! central massachusetts association of realtors®
SCHOLARSHIP AWARDS The Central Massachusetts Association of REALTORS® is pleased to continue our Scholarship Program. In 2016, we will offer three (3) $1,000 scholarships to current high school seniors or currently-enrolled college students. Applications are open to children and grandchildren of REALTOR® members, Affiliate members, and full-time staff of CMAR. We will also offer four (4) $250 Professional Development Scholarships to REALTOR® members to be used towards Designation Classes held at CMAR. Scholarship applications are available on the CMAR website at www.cmarealtors.org.
HURRY - APPLICATION DEADLINE IS APRIL 30, 2016! central massachusetts association of realtors®
NAR UPDATE ON FLOOD INSURANCE
SCHOLARSHIP AWARDS
Below is a statement from NAR Staff on flood insurance that states simply what the new change is: ****
The Central Massachusetts Association of REALTORS® For homeowners who let their NFIP policy lapse after Biggert-Waters flood insurance reform, there are is pleased to continue our Scholarship Program. In 2016, upcoming deadlines to be aware: we will offer three (3) $1,000 scholarships to current high school seniors or currently-enrolled college students. April 1 to get coverage, there is agrandchildren 30-day waiting of period so the true deadline is March 1. Applications are openand to note, children and REALTOR® members, Affiliate members, and full-time staff If those lapsed policy holders don’t reinstate their coverage before April 1 or they let their coverage lapse of CMAR.
for more than 90 days afterward, they will no longer be eligible for subsidized or preferred risk rates. They jump to full risk rates.
We will also offer four (4) $250 Professional Development ® Scholarships to REALTOR members be used towards Note: This change applies only to those whotodeliberately let their policies lapse after Biggert Waters. Designation Classes held at CMAR.
Central Massachusetts Associationare of REALTORS® 4 www.cmarealtors.org Scholarship applications available on the CMAR website at www.cmarealtors.org.
The Central Massachusetts Association of REALTORS® 2016 TOP PRODUCERS Award
CMAR seeks to recognize REALTORS® for their accomplishment of outstanding levels of production in real estate transactions during the calendar year. This award may be given to Individual Realtors® and Teams. Approximately 5% of CMAR members will be eligible for this award. All applications must be received by CMAR no later than March 11, 2016. Entries may be mailed, faxed or emailed to lsprague@cmarealtors.org.
ELIGIBILITY ‐ To qualify for consideration, the applicant must have been a primary member in good standing with CMAR during the past calendar year, and must have paid their 2016 CMAR dues in full.
CRITERIA FOR ELIGIBILITY OF TRANSACTION ‐ 1. Sold properties through MLS PIN or other MLS may be counted. The listing side of an Entry Only sale shall NOT be counted, but the sale side may be counted. 2. All entries not substantiated by MLS PIN will require documentation. 3. No credit will be given for outgoing referrals, leases or finder’s fees. 4. Applicant takes credit for the full sales price and 1 unit if either the listing or selling agent. If applicant is both listing and selling agent on the same transaction, he/she may count the full sale price twice and 1 unit for each side. 5. All entries are subject to verification by the Top Producers Committee. The Committee reserves the right to reject applications based on fraudulent information. 6. The Top Producers Awards Committee has the right to and may request additional documentation in order to verify an agent’s sales.
MINIMUM ENTRY REQUIREMENTS – An individual agent must have sold a minimum of either: ‐ $4 million volume plus a minimum of 16 units OR ‐ 22 units with no minimum volume OR ‐ $8 million with no minimum units The requirements for a Team are based on the number of people on that team, with each person on the team requiring an additional 50% of the individual production levels. For example: Team of 2 ‐ $6 million plus 24 units OR 33 units with no minimum volume OR $12 million Team of 3 ‐ $8 million plus 32 units OR 44 units with no minimum volume OR $16 million Team of 4 ‐ $10 million plus 40 units OR 55 units with no minimum volume OR $20 million, etc. * * A Team is defined as a group of agents who work together and all transactions are reported in MLS under one Team ID.
AWARD LEVELS – Certificates will be given on three levels of production, Ruby, Emerald and Diamond, based on the calculation of the award formula on the application. In 2014, the Ruby awards ranged from $71 – 314 Million, The Emerald from $348 – 847 Million and the Diamond from $1.23 – 2.44 Million. There will also be one Top Producer Award per category.
Awards will be presented at the CMAR Awards event on April 14, 2016. Central Massachusetts Association of REALTORS® 5 www.cmarealtors.org
DOCUMENTATION TO ACCOMPANY YOUR APPLICATION:
MLS PIN report (see screen shot below)
In Pinergy, select: TOOLS In Tools, click on Market Reports In Market Reports, click on New Report At the top left of the screen, under Report Type, choose Market Share – My Market Share Under Property Type, select ALL categories Set the button to YES for Display Search Criteria Under Time Frame, scroll down and click “Choose a Time Frame”. Set Start Date to 1/1/2015, End Date to 12/31/2015 Click Search Now. A message will pop up telling you “You have selected NO TOWNS… Do you wish to continue? Click OK. Print the summary page from MLS showing your transactions and sides. 01/01/2015 12/31/2015
Non‐MLS Sales If you have a Non‐MLS listing that you would like considered for this award, you must attach a copy of the HUD statement identifying your company as an agent of the transaction as well as a signed statement from your Broker showing the amount of gross commission paid to your office and verifying you were the agent for the transaction.
Awards will be presented at the CMAR Awards event on April 14, 2016. Central Massachusetts Association of REALTORS® 6 www.cmarealtors.org
2016 TOP PRODUCERS APPLICATION FORM Name: Office: Email: Other Team Members: Total MLS Dollar Volume $ Non‐MLS Dollar Volume $ Total Dollar Volume $ Multiply $ X Dollar Volume Total Total Sides
MLS ID:
Individual
Team
Total MLS Sides
Non‐MLS Sides
Total Sides
= $
** This formula will produce a very large number. This number is used to rank all applications to determine which category you fit into. This form must be accompanied by your MLS PIN Market Share report and any Non‐MLS documentation to be considered. Applications without the proper documentation may be returned or rejected. I hereby certify that all transactions submitted are truly my own, and not the sales or listings of other agents or assistants. I understand that falsifying my application will disqualify me from this award, may prohibit me from applying in the future, and may result in a hearing to assess a violation of the Realtor ®Code of Ethics. Signature: _________________________________________________________________________ Broker/Manager Signature: _______________________________________________________________ All applications must be received by CMAR no later than March 11, 2016.
Entries may be mailed, faxed or emailed to lsprague@cmarealtors.org.
Awards will be presented at the CMAR Awards event on April 14, 2016. Central Massachusetts Association of REALTORS® 7 www.cmarealtors.org
OUR VIP SPONSOR
WINTRUST MORTGAGE TAKES ON WORCESTER!
Wintrust Mortgage is very excited to announce that Kelly Gaumond has joined our Worcester office as a Senior Mortgage Consultant. Watch for the grand opening of our new Worcester location at 362 Chandler Street! Join Kelly and Regional VP, Amy Tierce NMLS #15695 at our first Lunch and Learn of 2016! March 23rd, 12 P.M. - 2 P.M. R.S.V.P. at www.cmarealtors.org/events.html Earn 2 CEU’s - while learning the latest in Mortgage News! Realtors, let’s make this simple. Here’s 5 things to know: * Local Knowledge/National Clout * Multiple products and programs * Lending expertise and care from our professional team
Questions or concerns about the ever-changing market? Contact me today. I’ll be your calm and clear guide through the mortgage industry. Kelly Gaumond
Senior Mortgage Consultant NMLS# 13530
175 Highland Ave., Ste. 306 Needham, MA 02494
Cell: 774.200.5017
Direct: 781.247.9576 eFax: 847.350.3676 KGaumond@WintrustMortgage.com www.WintrustMortgage.com
Wintrust Mortgage is a division of Barrington Bank & Trust Company, N.A., a Wintrust Community Bank NMLS #449042. © 2016 Wintrust Mortgage 160200678KO
Central Massachusetts Association of REALTORS® 8 www.cmarealtors.org
MEMBERSHIP NEWS New Applicants Janice Brigham Tammy Ceccarini Carlos Cepeda Shelly Chalue Laura Fistori Victoria Kelly Deena Kelly Savvas Kosmidis Fistori Laura William McGuiness Jr. Laurie Morrison Deborah Nickerson Brande Plourde Kristy Riendeau Elizabeth Smick Michael Vizard Michael Voyer
RE/MAX Professional RE/MAX Professional RE/MAX Professional Keller Williams Realty Exit Realty Partners Millennium Realty RE/MAX Vision ERA Key Realty Services Exit Realty Partners Exit Realty Partners Exit Realty Partners ERA Key Realty Services RE/MAX Professional ERA Key Realty Services RE/MAX Professional Keller Williams Realty Century 21 No. Shore Realty
New Affiliates Sturbridge Shrewsbury Sturbridge Worcester Shrewsbury Mendon Worcester Worcester Shrewsbury Auburn Auburn Milford Sturbridge Spencer Sturbridge Worcester Leominster
Agents Transferred - New Office Lisa Benway Jessica DeHaemer Deborah McCready Wendy McFarland
Keller Williams Realty Exit Beacon Pointe Realty Keller Williams Realty RE/MAX Prof. Associates
Westboro Northboro Westboro Sturbridge
Melissa Weiker
Exit Realty Partners
Auburn
Agents Tranferred Board Jennifer Santosuosso
Millennium Realty
Mendon
Sarah Blake Jay Caldwell Joanne Corkum Benjamin Coy Larry Fiore Thomas Jung Denise Walker
Digital Federal Credit Union 220 Donald Lynch Blvd Digital Federal Credit Union 220 Donald Lynch Blvd Digital Federal Credit Union 220 Donald Lynch Blvd Digital Federal Credit Union 220 Donald Lynch Blvd Flagstar Bank 255 Park Avenue Suite 304 Santander Bank 5 Whittier Street 2nd floor Country Bank 75 Main Street
Marlboro Marlboro Marlboro Marlboro Worcester Framingham Ware
Affiliates Transferred - New Office Mark Covotta Julie Galli Kelly Gaumond Paul Nocivelli Mary Roughan Stephen Smith
Flagstar Bank 255 Park Avenue Suite 304 Peoples Home Loans 198 U.S. 9 Suite 206 Wintrust Mortgage 175 Highland Street Academy Mortgage 1106 Pleasant Street Flagstar Bank 256 Park Avenue Suite 304 Santander Bank 5 Whittier Street 2nd floor
Worcester Englishtown NJ Needham Worcester Worcester Framingham
NAR PLACEMAKING GRANT Do you have a need in your town? The National Association of REALTORS® is committed, through the efforts of our local associations, to make a difference in the communities we serve. They have developed a grant process with the intention of making our communities a better place to live and work by transforming public spaces into vibrant community places. As a place becomes more desirable and welcoming, properties around that place increase in value. The Government Affairs Committee is looking for ideas for this year’s NAR place-making grant program. Past grants have included beautifying a local park monument in Worcester; Habitat Housing and even a scoreboard for a Little League Team. If you have a need in your community, please reach out to the Chair of this year’s Government Affairs Committee Kathy McSweeney, kmcsweeney@townisp.com. The Committee will be making their selection in April. Good luck! Central Massachusetts Association of REALTORS® 9 www.cmarealtors.org
CODE OF ETHICS TRAINING
The National Association of REALTORS® requires all REALTOR® members to complete a REALTOR® Code of Ethics course during the four year period that ends December 31, 2016.
Code of Ethics Training * * * *
Learn the role the Code should play in your business. Enhance professionalism and competency. Learn how to use the Code as a viable guide. Learn the benefits of Arbitration vs. Litigation For your convenience, CMAR will hold classes on the following dates. All classes are FREE for CMA members, and 2 CEU’s will be awarded. Weds., March 2, 1:00 - 3:30 pm Weds., May 4 9:30 am - 12:00 pm Weds., June 1 1:00 - 3:30 pm Weds., August 31 9:30 am - 12:00 pm Weds., October 12 1:00 - 3:30 pm Sat., November 19 19, 12:30 - 3:00 pm Weds., November 30 9:30 am - 12:00 pm Sat., December 10 12:30 - 3:00 pm Weds., December 14 1:00 - 3:30 pm Weds., December 28 9:30 am - 12:00 pm Alternately, you may take online training on the NAR website at http://www.realtor.org/code-of-ethics/training. NO CEU’s are awarded for these online classes.
Don’t wait until the last minute. Fulfill your requirements early! You may register online at www.cmarealtors.org or call the office at 508-832-6600. The Central Massachusetts Association of REALTORS® 492 Washington Street * Auburn, MA 01501 Central Massachusetts Association of REALTORS®
10 www.cmarealtors.org
PROFESSIONAL DEVELOPMENT
Central Massachusetts Association of REALTORS速
11 www.cmarealtors.org
INVESTMENT PROPERTY / HEALTHY HOMES SUMMIT The Central Massachusetts Association of REALTORS® presents
INVESTMENT PROPERTY SUMMIT
! T OU
Brought to you by the Government Affairs & Professional Development Committees Day/Date: Time: Place: Cost:
Thursday, March 10, 2016 8:30 am - 12:00 pm College of the Holy Cross, Hogan Center One College Street, Worcester, MA 01610 FREE to CMAR Members - REGISTER NOW! $25 for non-CMAR REALTORS® - Registration Available After March 1 Breakfast will be served.
D OL
S
Sp Special Keynote Speaker: Peter Souhleris of Flipping Boston, Pe hot new show on A&E ho
A Sneak Peek into Worcester's Economic Future Michael M Traynor, Chief Development Officer, City of Worcester
O Overview of Grant Programs available for Worcester p property owners Peter Souhleris
Pro Tips for Property Owners: P Valuation, Management & Legal Hot Topics
Presentation of the new Healthy Homes Grant
Seating is limited! Attendees MUST Pre-Register. Call Lisa Sprague at 508-832-6600.
This special event is sponsored by Central Massachusetts Association of REALTORS®
12 www.cmarealtors.org
PROFESSIONAL DEVELOPMENT
trid is here
LET’S LEARN MORE ABOUT HOW TO MANAGE TRANSACTIONS IN THE AGE OF TRID.
You are invited to a Peoples Home Loans Lunch and Learn!
Earn 2 CEU’s - RE93R15: Consumer Financial Protection Bureau (CFPB) Effect on Real Estate Closings Friday, March 18th | 12PM to 2PM WRAR 492 Washington Street | Auburn MA 01501 Register at www.WRAR.org/events.html Speaker will be Michael Dutra from Peoples Lunch to be provided by Brian Daniels of Herlihy Insurance Realtors, let’s make this simple. Here’s 5 things to know: 1. TRID stands for TILA-RESPA Integrated Disclosure and is designed to simplify the mortgage process. 2. We cannot require documents prior to application. If your buyers need full pre-qualifications, they must volunteer their documentation. 3. Changes to Loan Estimates or Closing Disclosures can delay closings. 4. Changes to purchase agreements, missing fee/cost disclosures or delays in property inspections or application for homeowners insurance can delay closings. 5. While TRID is new, there are likely to be delays. Coach your buyers, sellers and other agents to give me their documents as quickly as possible when we ask for them.
We are well prepared to thrive in the new lending environment. Count on Peoples to help make the complex changes less complex.
Questions about the ever-changing market? Contact me today. I will be the clear guide through the mortgage industry. CEU’s sponsored by McLaughlin, Richards, Biller and Schindel, LLP
Michael Dutra
Home Loans
Regional Sales Manager NMLS 13530 Direct: 508.372.9176 | Cell: 401.486.6894 mdutra@bankingunusual.com
A DIVISION OF PEOPLES BANK
bankingunusual.com Central Massachusetts Association of REALTORS®
www.TeamDutra.com
NMLS 690890 Member FDIC
13 www.cmarealtors.org
AFFILIATE APPRECIATION NIGHT
5:30-7:30 pm
Century 21 Northshore, Leominster Coldwell Banker, Worcester Coldwell Banker, Shrewsbury Exit Realty Partners, Shrewsbury Marty Green Properties, LLC Paramount Realty RE/MAX Professional Associates. Auburn
Central Massachusetts Association of REALTORS速
14 www.cmarealtors.org
2016 CMAR AWARDS
2016 CMAR Awards Natalie Quinlan Distinguished Service
REALTOR速 of the Year
REALTORS速 Choice
Affiliate of the Year
Rookie of the Year
Each year the Central Mass. Association of REALTORS速 recognizes its members for their professional achievements, including involvement with our Association and contribution to our communities. Join us in celebrating those achievements, including our TOP PRODUCER Award.
Thursday, April 14 2016 Wachusett Country Club 11:30 am registration 12:00 Buffet Luncheon & Awards Member Price: Non-member Price: Table of 10:
$40 $45 $375
CONGRATULATE OUR NOMINEES BY PLACING AN AD IN OUR PROGRAM! Contact Jacki at jdinnocenzo@cmarealtors.org for more info.
REGISTRATION DEADLINE: APRIL 1, 2016
Register online at www.cmarealtors.org or return this form via fax to 508-832-6620 or via email to jdinnocenzo@cmarealtors.org You may also call the CMAR offices at 508-832-6600. Contact Name:______________________________________________ Company:__________________________________ Billing Address:_______________________________________________ City/State/Zip_______________________________ Phone:___________________________________________ Email:_______________________________________________ Amount Due__________
____Check
____American Express
____Discover
____MasterCard
____Visa
Card No______________________________________________________________ Expiration________________________ Signature_____________________________________________________________________________________________
Central Massachusetts Association of REALTORS速
15 www.cmarealtors.org
PROFESSIONAL DEVELOPMENT REALTORS®
Commercial Alliance
The REALTORS® Commercial Alliance of Massachusetts presents
The National Association of REALTORS®
Discovering Commercial Real Estate This course is designed to explain this important side of the business and introduce many of the concepts, tools and other resources needed to pursue a commercial transaction or a career in commercial real estate. Students should bring a financial calculator. Course will include handouts and will have group engagement activities.
Date: Registration: Class: Place: Cost: Instructor:
Tuesday, April 26, 2016 9:00 am 9:30 am - 3:00 pm; Luncheon included Central Massachusetts Association of REALTORS® 492 Washington Street, Auburn, MA $99 for REALTOR® members; $139 for non-members Robert J. Nahigian, FRICS, SIOR, CRE, MCR
Added Bonus for registering: All attendees will be entered into a raffle for a chance to win a FREE 2017 RCAMA membership!
Robert J. Nahigian
Luncheon Sponsor:
Course Outline: Principles of Commercial Real Estate: Players and Properties Characteristics of Commercial Real Estate and Types of Commercial Transactions Commercial Contracts and Resources for Further Exploration ............................................................................. Register online at www.cmarealtors.org/events.html or fax to 508-832-6620 or email to cpappas@rcama.org Name:_________________________________________________________________________________________ Firm:_________________________________________________________________________________________ Billing Address:_________________________________________________________________________________ Credit Card/Expiration:___________________________________________________________________________ Amount to be charged:_________________________ phone:____________________________________________
Central Massachusetts Association of REALTORS®
16 www.cmarealtors.org
REALTOR速 NIGHT AT FENWAY PARK
REALTOR NIGHT AT FENWAY PARK Boston Red Sox vs. Seattle Mariners
When: Where: Time: Price:
June 18th, 2016 Fenway Park 4:05pm $50.00 per ticket - a portion of each ticket sold will go to the CMAR Scholarship Fund
A great way to celebrate the season with REALTOR速 friends!
For tickets, contact Lisa Sprague at Central Massachusetts Association of REALTORS速 508-832-6600 or lsprague@cmarealtors.org All Association Members will have seats in the same section!
Central Massachusetts Association of REALTORS速
17 www.cmarealtors.org
CMAR 18th ANNUAL GOLF TOURNAMENT CMAR 18th Annual
Golf Tournament0 Wachusett Country Club Thursday, June 23, 2016
Registration: 8:30 am Shotgun: 9:30 am Luncheon: 2:30 pm Single: $125 Foursome: $500
Prizes for 1st, 2nd, 3rd Place, Longest Drive & Closest to Pin Raffles, Door Prizes Strings & Mulligans Available!
Includes 18 holes, cart, continental breakfast, luncheon
A portion of proceeds will be donated to local charitable organizations. To register contact Jacki D’Innocenzo at 508-832-6600 or via email at jdinnocenzo@cmarealtors.org. Or send this form to CMAR, 492 Washington Street, Auburn, MA 01501 * FAX 508-832-6620. No. of Players__________
Team Captain:____________________________________________________________
Player 1:
Player 2:
Player 3:
Player 4:
Contact Name: Billing Address: Amount Paid: $__________
___Check
___Amex
___Discover
Card No._________________________________________________
___MasterCard
___Visa
Exp.____________________________________
Signature:__________________________________________________________________________________________
Central Massachusetts Association of REALTORS®
18 www.cmarealtors.org
CENTER FOR REAL ESTATE STUDIES & TRAINING Upcoming CEU Courses for March All classes are held at the Central Massachusetts Association of REALTORS® CREST School, 492 Washington Street, Auburn, MA 01501, unless otherwise noted. CMAR Members in good standing receive FREE LOCAL CEU’s! Tuition for non-members is $20 for each 2-hour CEU. You may register for classes online at www.cmarealtors.org or by calling the CMAR office at 508-832-6600. Time
Instructor
Course Code
Course Title
Wednesday, March 2, 2016 1:00 - 3:30 pm
Paula Savard
10:00am 12:00pm 2:00pm
Craig Reynolds
RE35RC03
Offers
Craig Reynolds
RE89R14
Purchase & Sale Agreements for Residential Transactions
Craig Reynolds
RE07R13
Closing and Settlement
Code of Ethics Training
Tuesday, March 22, 2016 - Fidelity Bank Building, Leominster
Tuesday, March 22, 2016 - Auburn 10:00am 12:00pm 2:00pm
Jo Ann Szymczak Jo Ann Szymczak Jo Ann Szymczak
RE78R13 RE49R05 RE12R07
Short Sales Dual Agency Condominiums, Cooperatives
April 2016 marks the 49th anniversary of the 1968 landmark Fair Housing Act. Each year REALTORS® recognize the significance of this event and reconfirm our commitment to upholding fair housing law as well as our commitment to offering equal professional service to all in their search for real property. We are proud to bring Jamie Williamson, Chair of the Massachusetts Commission Against Discrimination (MCAD), to our FAIR HOUSING SEMINAR - Save the Date: Date: April 21, 2016 Time: 10 am - 12 pm Place: Central Massachusetts Association of REALTORS®, 492 Washington Street, Auburn Cost: FREE for CMAR Members Jamie Williamson Central Massachusetts Association of REALTORS®
19 www.cmarealtors.org
LOCAL MARKET UPDATE Local Market Update – January 2016 A RESEARCH TOOL PROVIDED BY THE MASSACHUSETTS ASSOCIATION OF REALTORS®
Worcester Regional Association of REALTORS®
+ 22.2%
- 2.4%
- 21.7%
Year-Over-Year Change in Closed Sales All Properties
Year-Over-Year Change in Median Sales Price All Properties
Year-Over-Year Change in Inventory of Homes All Properties
January
Single-Family Properties
2015 316 276 $244,750 2,053 4.7 119 94.0% 410
Pending Sales Closed Sales Median Sales Price* Inventory of Homes for Sale Months Supply of Inventory Cumulative Days on Market Until Sale Percent of Original List Price Received* New Listings
2016 461 337 $249,000 1,580 3.3 113 94.1% 476
Year to Date +/– + 45.9% + 22.1% + 1.7% - 23.0% - 31.2% - 4.9% + 0.1% + 16.1%
January
Condominium Properties
2015 75 67 $229,000 394 3.7 136 96.2% 106
Pending Sales Closed Sales Median Sales Price* Inventory of Homes for Sale Months Supply of Inventory Cumulative Days on Market Until Sale Percent of Original List Price Received* New Listings
2016 122 82 $205,000 335 2.9 108 94.9% 130
2015 316 276 $244,750 --119 94.0% 410
2016 461 337 $249,000 --113 94.1% 476
+/– + 45.9% + 22.1% + 1.7% --- 4.9% + 0.1% + 16.1%
Year to Date +/– + 62.7% + 22.4% - 10.5% - 15.0% - 22.5% - 20.5% - 1.4% + 22.6%
2015 75 67 $229,000 --136 96.2% 106
2016 122 82 $205,000 --108 94.9% 130
+/– + 62.7% + 22.4% - 10.5% --- 20.5% - 1.4% + 22.6%
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
Median Sales Price
BASED ON A ROLLING 12-MONTH AVERAGE
Single-Family Properties
Condominium Properties All MLS
b
All MLS
b
Worcester Regional Association of REALTORS®
a
Worcester Regional Association of REALTORS®
a
$350,000
$350,000
$300,000
$300,000 $250,000
$200,000 $250,000
$150,000
$200,000 12-2007 12-2008 12-2009 12-2010 12-2011 12-2012 12-2013 12-2014 12-2015
$100,000 12-2007 12-2008 12-2009 12-2010 12-2011 12-2012 12-2013 12-2014 12-2015
All data from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS®, Inc. and MLS Property Information Network, Inc. | Provided by MAR. | Powered by ShowingTime 10K.
Central Massachusetts Association of REALTORS®
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LEGAL HOTLINE Michael McDonagh, MAR General Counsel Ashley Stolba, MAR Associate Counsel Justin Davidson, MAR Legislative & Regulatory Counsel Q. What are marketing services agreements (“MSAs”), and do they violate the Real Estate Settlements Procedures Act (RESPA)? A. MSAs are formal relationships between settlement service providers in which the partners cross-market or comarket each other’s services. An example of an MSA is when a real estate company agrees to market the services of a particular mortgage company. Not all MSAs are illegal; RESPA permits the marketing of other settlement services by another settlement service provider if it meets certain requirements. That said, in October 2015, the Consumer Financial Protection Bureau (CFPB), which has been active in initiating enforcement actions in this area, announced that they are, “deeply concerned about how marketing services agreements are undermining important consumer protections against kickbacks” and that, “any agreement that entails exchanging a thing of value for referrals of settlement service business likely violates federal law, regardless of whether a marketing services agreement is part of the transaction.” The full text of their guidance can be found here: http://www.consumerfinance.gov/newsroom/cfpb-provides-guidance-aboutmarketing-services-agreements/. Therefore, these agreements are going to almost always be an improper referral fee, so anyone entering into a MSA will need to be exercise extreme caution. All MSAs should be carefully drafted by an attorney specializing in such agreements. Q. Are there any tips for brokerages considering entering into an MSA? A. Although MSAs may be lawful under RESPA if carefully structured to comply with the Act, violators of RESPA are subject to harsh penalties, including triple damages, fines, and even imprisonment. As such, the National Association of REALTORS® has compiled a list of the following “do’s and “don’ts”: DO: • Be aware that RESPA permits payments for services performed by a broker or agent only if actual services are performed and the fee is fair market value for the services performed. • Memorialize an MSA in a written agreement that states in detail the marketing and advertising services to be performed and the fee to be paid in return for such services. • Ensure that marketing and advertising services identified in a written MSA are, in fact, performed.
Central Massachusetts Association of REALTORS®
• Consider including a reporting and/or audit obligation in a written MSA that requires the service provider to document or otherwise provide evidence that services were performed. • Provide a disclosure to consumers notifying them of the MSA relationship. • Document how the parties arrived at the amount of the marketing fee and the determination of fair market value. • Consider engaging an independent third party to establish the fair market value of the marketing and advertising services. • Modify the amount of the marketing fee under an MSA only when objective changes are made to the services performed and/or other terms of the agreement. Verify the basis for the increase or decrease in fee amount and document the objective reason(s) for the change. DON’T: • Do not include “services” in the MSA that require a broker or agent to market a lender or title company directly to a consumer, like a sales pitch to a consumer, or distributing lender or title company brochures or other materials directly to a consumer. • Do not designate a settlement service provider as the broker’s or agent’s “preferred” company as part of the MSA. • Do not enter into exclusive MSAs such that the broker agrees to perform marketing and advertising services for only one lender or title company. • Do not accept fees that are in excess of the fair market value of the marketing services actually performed. • Do not base the amount of marketing fees on the volume of referrals or success of the referrals. • Do not accept fees under an MSA for allowing access to sales meetings, conducting customer surveys or creating monthly reports. • Do not make frequent changes to the fees paid under an MSA based on the volume or success of referrals or any other nonobjective criteria. • Do not enter into an MSA with a company that is an affiliate of the broker or agent. • Do not enter into an MSA with a month-to-month term. Disclaimer: The DO’s and DON’Ts listed here are not all-inclusive and small variations in the facts can lead to different outcomes. Speak with a RESPA attorney to make sure you comply with all applicable laws. For more information on MSAs, please visit: http://www.realtor.org/topics/real-estate-settlementprocedures-act-respa
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2016 BOARD OF DIRECTORS
KOFFEE WITH KRIS
President, Kris Koliss President Elect, Sarah Gustafson Vice-President, Judy Patterson Secretary, Tracey Fiorelli Treasurer, Michael Meurant Immediate Past President, Brad Roberts
Diane Dabrowski Mike DeLuca Erika Hall Lorraine Herbert Lee Joseph Kathy McSweeney Leslie Storrs John Vaillancourt Andrew Abu Leif Rosseland Nathan Stewart
Director Director Director Director Director Director Director Director Alternate Alternate Alternate
CMAR STAFF Executive VP, Colleen Pappas Office Manager, Lisa Sprague Marketing Manager, Jacki D’Innocenzo Accountant, Maura O’Connor
Friday, March 4, 9:00 - 10:00 am Join President Kris Koliss at a Meet & Greet to be held quarterly at the CMAR office in Auburn. Stop by for a cup of coffee to chat about the market or to discuss issues or concerns!
CMAR office hours are 9:00 am—5:00 pm. For assistance with the MLS Lockbox system, please make an appointment with Lisa Sprague at 508-832-6600. Please LIKE our facebook page at https://www.facebook.com/CentralMasslAssociationofREALTORS. By doing so you will not only get up-to-the-minute information on everything going on at CMAR, but you will help us to increase our visibility while growing your own business network. Central Massachusetts Association of REALTORS®
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