November 2015 Inside this Issue: PRESIDENT’S MESSAGE President’s Message
Greeting everyone:
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Month-at-a-Glance
2
NEW Dental Benefits
3
WRAR Annual Meeting
4-5
Dues Incentives
7
Membership News
8-9
As I write this I feel good, and not because my term is slipping away! I feel good because our staff just planned and executed one of our best Annual Meetings ever. We were treated to an incredibly substantive presentation from Dr. Lawrence Yun, the Chief Economist for the National Association of Realtors. Well attended, the event was a great tribute to our increased emphasis on professional development for our members.
Professional Development 11-15 Installation of Officers
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Special Broker/Manager Breakfast
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CREST
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Local Market Update
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Legal Hotline
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Committee Volunteer Day
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Provided at the meeting was our Annual Report. If you were not at the meeting, make a point to pick up a copy of this year’s report. The staff has worked hard to provide a succinct overview of the many activities of this past year. It is a really well done and their hard work does not go unnoticed. The Leadership Team is off to the National Convention. As you are aware, these are very important opportunities for us to exchange information with our regional counterparts as well as receive briefings from various National Committees on policy concerns which affect our local markets.
WRAR Mission Statement The purpose of the Worcester Regional Association of REALTORS® is to:
It is a mere coincidence that this year’s meeting is in San Diego, California . It has been an exciting year, the economic news from Dr. Yun is overall positive and the Patriots are on a roll – life is good. Thanks everyone
Brad
Brad Roberts 2015 WRAR President
* 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.
Worcester Regional Association of REALTORS®
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www.wrar.org
WRAR MONTH-AT-A-GLANCE November 2015 Sunday 1
Monday 2
Tuesday
Wednesday
3 9 Gov’t Affairs 9:30-3:30 MLS PIN Training
4 9-12 Dot Loop Training
Thursday 5 10 PDC
Friday
Saturday
6
7 8-2 CEU’s at CREST
12 12-2 Mastermind Session
13 9:30-3:30 MLS PIN Training
14 9-12 Pre-License Class
3:30 Comm Volunteer Day
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9 8:30-11 DR Breakfast
10 11-1 Lunch & Learn w/Fairway Mortgage
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15
16 5:30-9:30 PreLicense Class
17 12-2 Lunch & Learn w/Wintrust Mortgage
18 8:30-3:00 New Member Orientation
19 10-12:30 Lunch & Learn w/Prospect Mortgage
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21 9-12 Pre-License Class
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23 5:30-9:30 PreLicense Class
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25
26
27
28 9-12 Pre-License Class
27
30 5:30-9:30 PreLicense Class
WRAR CLOSED
WRAR CLOSED
Save the Date Dec. 3, 2015
Installation of Officers & Directors Dinner at the Beechwood Hotel
Member Benefits Did you know that we offer a FREE Notary Public service here at WRAR? All you have to do is call and make an appointment. Did you know that our Membership Committee has secured many new discounts for you at local establishments? Business & Financial Services, Hardware & Equipment, Dining, Florists, Home Services, Hotels, Personal Care, and Retail discounts are available to WRAR members. For a full list of participating vendors, visit www.wrar.org/local-benefits.html. To take advantage of them, just download the WRAR App (available on the iphone and google play stores) and show your membership card to any of the establishments to receive your discount. Last month, Forward Financial Services rolled out additional new Medical and Wellness benefits to WRAR members and this month, DENTAL benefits are now available! Call Tom Valentine or Gretchen Antonelli at Forward Financial Services, 508-796-5950 to find out how you can take advantage of these offerings. Worcester Regional Association of REALTORS®
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www.wrar.org
DENTAL BENEFITS NOW AVAILABLE FOR WRAR MEMBERS!
85% of U.S. adults have had at least one tooth affected by decay by age 34. National Institute of Dental and Craniofacial Research, Dental Caries (Tooth Decay) in Adults (Age 20 to 64), 2014
Help protect your smile and your budget WRAR is proud to bring another outstanding benefit to our members! In conjunction with Forward Financial Services, DENTAL COVERAGE is now available! The benefits of dental coverage While most health insurance plans don’t cover dental procedures, dental insurance can provide you and your family with benefits for routine and unexpected dental visits. It can help you pay for procedures such as: Cleanings Fillings Sealants
Talk with your Colonial Life benefits counselor to learn more about dental insurance.
Tooth removal Crowns Dentures
Regular dental appointments can also help you maintain better overall health. They may help your dentist diagnose oral health problems early, when treatment is likely to be simpler and more affordable. They may also help your dentist detect other serious health conditions, such as diabetes and heart disease. With dental insurance, you can help protect both your health and your budget. And that’s something to smile about.
Contact Tom Valentine at 508-796-5950 or tom@forwardfinancialsrv.com
For more info, contact Tom Valentine at 508-796-5950 or tom@forwardfinancialsrv.com Worcester Regional Association of REALTORS®
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www.wrar.org
WRAR ANNUAL MEETING This year’s Annual Meeting was held on October 28 at the Worcester Technical High School. The budget and Slate of Officers for 2016 were reviewed and approved. Attendees were treated to a wonderful breakfast buffet served by the HS Students. We were honored to have Lawrence Yun, Chief Economist & Senior Vice President of Research at the National Association of REALTORS® as our Keynote Speaker. Dr. Yun reviewed the economic and housing market forecasts for the coming year, both nationally and locally and answered audience questions. Interest was high as Dr. Yun presented the economic outlook to a sold out crowd.
Pictured right are WRAR Executive VP, Colleen Pappas; Dr. Yun; and 2015 President, Brad Roberts.
Worcester Regional Association of REALTORS®
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WRAR ANNUAL MEETING Finance Committee Members are pictured right: Marcia Hastbacka, Mike DeLuca, Treasurer Mike Meurant, Joe Sama and Pam Crawford.
WRAR Past Presidents: Dan Robertson, Matteo Gentile, Marjorie Yale, Randy DeVries, Rochelle Jonswold and Dave Stead.
2015 Board members: Lorraine Herbert, John Vaillancourt and Tracey Fiorelli.
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OUR VIP SPONSOR
We’re “Home” for a Great Mortgage. ƚ &ŝĚĞůŝƚLJ ĂŶŬ͕ ǁĞ͛ǀĞ ďĞĞŶ ƉƵƫŶŐ ƉĞŽƉůĞ ŝŶ ƚŚĞŝƌ ĚƌĞĂŵ ŚŽŵĞƐ ĨŽƌ ƚŚĞ ƉĂƐƚ ϭϮϳ LJĞĂƌƐ͘ zŽƵ ĐŽƵůĚ ƐĂLJ ŝƚ͛Ɛ ŽƵƌ ƐƉĞĐŝĂůƚLJ ƚŽ ŵĂŬĞ ƉĞŽƉůĞ ŚĂƉƉLJ͘
Speak with one of our Home Loan Specialists ƚŽĚĂLJ ƚŽ ƐĞĞ ǁŚĂƚ ŵĂŬĞƐ ƵƐ ĚŝīĞƌĞŶƚ͘ ϴϬϬ͘ϱϴϭ͘ϱϯϲϯ ͻ ĮĚĞůŝƚLJďĂŶŬŽŶůŝŶĞ͘ĐŽŵ
OFFICE SPACE FOR LEASE
FOR LEASE
Do you know someone? Give us a call!
Professional Office Space 2,200+ sq. ft. • High visibility on Rte 20, Auburn, MA • Minutes to all major routes • Private Offices with Flexible Floor Plan • Conference Room • Ample Parking • Minimum one year lease • Contact 508-832-6600 for details
Worcester Regional Association of REALTORS® 492 Washington Street, Auburn, MA 01501
Worcester Regional Association of REALTORS®
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MEMBERSHIP NEWS - Dues Incentives
2016 Dues Incentives Get a head start on 2016 by taking advantage of one our great dues incentives! Your dues include: National Association of REALTORS®: NAR Image Campaign: Mass. Association of REALTORS®: WRAR REALTOR®: WRAR Designated REALTOR®:
$120.00 $ 35.00 $151.00 $280.00 $380.00
* Pay your entire dues in October and be entered into a drawing to win back your ENTIRE 2016 dues - over $580 in savings! Deadline for drawing is 10/30/15. (REALTOR® members only.) * Pay your entire dues in November and be entered into a drawing to win back your LOCAL dues! (October entries are eligible once again in November). Deadline for drawing is 11/30/15. (REALTOR® members only.)
DEADLINE FOR DUES IS DECEMBER 31, 2015 TO AVOID LATE FEES Reminder: If you do not sign up for the installment plan, your entire 2016 dues payment MUST be received by December 31, 2015 to avoid additional fees. You MUST RE-SIGN for the budget plan each year, even if you were on it the prior year. Late fees go into effect on January 1, 2016 -- there are no exceptions!
2016 DUES MAY BE PAID ONLINE AS OF OCTOBER 1, 2015. 2016 dues invoices will be emailed to all members on October 1. They will NOT be mailed via US Post office. Worcester Regional Association of REALTORS®
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MEMBERSHIP NEWS New Applicants Bashar Aloch Exit Beacon Pointe Evan Arsenault Exit Realty Partners Norman Boisvert Quinsigamond Realty Nichoel Breau Keller Williams Realty Andrew Bruce Exit Realty Partners Andrea Beth Castinetti Exit Realty Partners Scott Dennett Keller Williams Realty Tina Jacobsen RE/MAX Professional Sue Kelly B.H.H.S. Hathaway Home Amy Polanik Emerson REALTORS® Nathaniel Schur Emerson REALTORS® Zantia Seda Exit Realty Partners Tarryn Snyder Century 21 I&V Walsh MichelleSt. Michael RE/MAX Executive PatriciaTalbot Collins & Demac
Northboro Auburn Worcester Worcester Shrewsbury Shrewsbury Worcester Shrewsbury Whitinsville Auburn Auburn Worcester Shrewsbury Marlboro Shrewsbury
Agents Transferred to Another Office Crystal Figueroa Grover Gentry Albert George Joe Hunt Lisa Jacobs Marti Orne Jesse Ritz Karen Slack Anthony Talbot
LAER Realty Partners Northboro LAER Realty Partners Northboro LAER Realty Partners Northboro Exit Realty Partners Shrewsbury Glickman Kovago & Jacobs Worcester Exit Realty Partners Worcester LAER Realty Partners Northboro Afonso Real Estate Milford Collins & Demac RE Shrewsbury
Agents Transferred from Another Board Carl Anderson
ERA Key Realty Services
Auburn
New Affiliates John Phaneuf
Country Bank 75 Main St., Ware, MA 01082
John Snook
Country Bank 2379 Boston Rd., Wilbraham 01095
Janelle Soucia
Country Bank 21 N. Main St., Belchertown MA 01007
JoMaria Velez
Country Bank 1485 N Main St., Palmer MA 01069
Connor Ebsary
Radius Financial Group Inc. 600 Longwater Drive, Norwell MA 02061
Scott Wrenn
The Law Offices of Scott C. Wrenn P.C. 1C Swanson Rd., Auburn
CONGRATULATIONS! Congratulations to Afaf Gerges of ERA Key Realty Services in Framingham. Afaf paid her dues before October 31 and won the drawing for her entire dues of $586 right back in her pocket! There’s still time to win your local dues - pay by Nov. 30, 2015!
WRAR Real Estate Transaction Forms Please be advised that when the current supply of WRAR forms is exhausted, we will sell MAR forms ONLY. If you currently use WRAR forms, you should also be using the MAR Disclosure Addendum. We have included a copy on the facing page, but you will also find this form on our website under the “Documents Library.”
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INTEGRATED DISCLOSURE ADDENDUM INTEGRATED DISCLOSURE ADDENDUM - MORTGAGE (To Contract To Purchase / Purchase And Sale Agreement) This Integrated Disclosure Addendum is entered into this ___ day of ________, 20__ and is deemed to amend and supplement a certain agreement between _____________________________ __________________________________ (“SELLER”) and _______________________________ _______________________________ (“BUYER”). Beginning on October 3rd, 2015, the federal Consumer Financial Protection Bureau’s “Closing Disclosure” for mortgage loans is required (the “Integrated Disclosure Rule”). The final Closing Disclosure must be received by the borrower three business days prior to the date of Closing (a/k/a Time For Performance) when a deed to the property is delivered by the seller to the buyer and the purchase price is paid. If, after a buyer receives the Closing Disclosure the annual percentage rate of the buyer’s loan changes by more than one eighth of one percent for a fixed rate loan or changes by more than one quarter of one percent for an adjustable rate loan from the rate that was previously disclosed to the buyer, the loan program is changed, or a prepayment penalty becomes applicable to the mortgage loan then it will become necessary for the Closing to be delayed until at least three business days after a buyer receives a revised Closing Disclosure. To promote compliance with the Integrated Disclosure Rule, the parties agree as follows: 1. BUYER agrees to obtain and provide SELLER the name of the attorney for BUYER’s mortgage lender (“Lender’s Attorney”) as soon as practicable after BUYER receives this information from the Lender, but in any event no less than fourteen business days prior to the scheduled date of closing. 2. No fewer than seven business days in advance of the scheduled closing, SELLER and the BUYER shall provide Lender’s Attorney all information reasonably obtainable by such person needed to calculate the adjustments (such as water, sewer, taxes, oil in tank) specified in the applicable clauses of the Purchase and Sale Agreement or as requested by Lender’s Attorney for the purpose of preparing the Closing Disclosure. 3. The BUYER and SELLER agree that: (a) if necessary to assure full compliance with the Integrated Disclosure Rule; and (b) at the request of Lender’s Attorney, the scheduled date for Closing will be extended up to three business days, or such other time as parties may agree. In such event, BUYER shall promptly give notice to SELLER. 4. No claim, counterclaim or cause of action for any loss or damage resulting from an extension, pursuant to paragraph 3, above, shall be initiated or maintained by SELLER against BUYER or by BUYER against SELLER, unless caused by breach of the terms of this Addendum. 5.
Time is of the essence.
____________________________________ BUYER Date
____________________________________ SELLER Date
____________________________________ BUYER Date
____________________________________ SELLER Date
©2015 MASSACHUSETTS ASSOCIATION OF REALTORS® This form is in use by: Use by anyone other than a participant in the transaction is strictly prohibited
Worcester Regional Association of REALTORS®
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Form No. 518
www.wrar.org
PROFESSIONAL DEVELOPMENT The WRAR Professional Development Committee is pleased to present:
2015 Office Leadership Breakfast Series
Session 4 Topic:
Hot Topics from the Legal Hotline • • • • • •
Disclosure Advertising & Social Media Drones Coming Soon/Pocket Listings Multiple Offers Nanny Cams
BE PREPARED
PROTECT YOUR PROFITS
Managing Your Potential Exposure As a Broker / Owner
BROKER AWARENESS
Offered exclusively to Brokers & Office Managers
RISK MANAGEMENT
Date: Monday, November 9, 2015 Breakfast: 8:30 am Program: 9:00-11:00 am Cost: $15 each
With special guest speaker, Ashley Stolba MAR Associate Counsel
THANK YOU TO OUR SPONSORS:
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . Register now - $15 each - Fax to 508-832-6620 or email to lsprague@wrar.org. Name:_________________________________________________________________________________________ Firm:_________________________________________________________________________________________ Billing Address:_________________________________________________________________________________ Credit Card/Expiration:___________________________________________________________________________ email:_______________________________________________ phone:____________________________________
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PROFESSIONAL DEVELOPMENT
You’re Invited! Lunch and Learn with Bill Murphy of Fairway Mortgage CEU Course: RE47R05 Residential Mortgage Loan Market & Credit Today
The Worcester Regional Association of REALTORSÂŽ
492 Washington St. Auburn, MA 01501
Have Your Best Fall Ever in 2015! November 10th 2015 11:00 AM – 1:00 PM (Registration 10:30 AM) Lunch and refreshments will be served courtesy of Attorney Jessica Albino
RSVP ONLINE: http://www.wrar.org/events.html What to Expect:
x x
x x x x x x x
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ƒ‹Â?‹Â?‰ Â?ƒ”Â?‡– •Šƒ”‡ ˆ”‘Â? –Š‡ Â?‡™‡•– ‰‡Â?‡”ƒ–‹‘Â? ‘ˆ Š‘Â?‡ „—›‡”• o Š‡ ˆƒ•–‡•– ‰”‘™‹Â?‰ Š‘Â?‡ ‘™Â?‡”• Â?ƒ”Â?‡– ‹• ‡Â?‡”ƒ–‹‘Â? ƒÂ?† ‘™ –‘ ‹Â?’”‘˜‡ –Š‡‹” …”‡†‹– •…‘”‡• ƒÂ?† Â?ƒš‹Â?‹œ‡ –Š‡‹” Ž‘ƒÂ? ‘’–‹‘Â?• Â?†‡”•–ƒÂ?†‹Â?‰ …”‡†‹– ƒÂ?† …”‡†‹– •…‘”‡• ƒÂ?† Š‘™ ‹– ‹Â?’ƒ…–• Ž‘ƒÂ? ’”‘‰”ƒÂ?• ƒÂ?† ”ƒ–‡• ”‡†‹– ”‡ˆ”‡•Š Íş †ƒ›• ’”‹‘” –‘ …Ž‘•‹Â?‰ Š‡ƒ– •Š‡‡– ˆ‘” ÇĄ ÇĄ ‘Â?˜‡Â?–‹‘Â?ÂƒÂŽÇĄ ƒÂ?† ‘—•‹Â?‰
Hosted by: Bill Murphy of Fairway Independent Mortgage – CMP Center for Real Estate Studies & Training
This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. Other limitations may apply. Š2014 Fairway Independent Mortgage Corporation NMLS ID#2289 (www.nmlsconsumeraccess.org) EQUAL HOUSING LENDER.
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PROFESSIONAL DEVELOPMENT An exciting new quarterly series brought to you by the WRAR Professional Development Committee
MASTERMIND SESSIONS
What if you could find a strategy that made you more money by talking with some of the very best in the real estate business? Masterminds, is more than a networking session or a seminar. During small collaborative sessions, you and your peers generate strategies that you can take back to the office the same day. Join us in an intimate setting to discover what the best in the business are doing to capture more market share and get their current listings sold! As participants in this Mastermind event YOU will set the topics that we discuss as a group."
Amazing Benefits of Mastermind Groups DEncouragement from others who share your passion DGuidance in helping you make the right business decisions DFresh ideas to grow and improve your business DAccountability factor - get it done NOW! DCollaboration with members in your group so you can go further faster Thursday, November 12, 2015, 12:00 - 2:00 pm WRAR, 492 Washington Street, Auburn FREE for WRAR Members Register online at www.wrar.org Attendees: Bring your YTD production Sold Volume/Closed Units so we can make sure every table has a mix of top, mid, and new agents! Worcester Regional Association of REALTORS速
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PROFESSIONAL DEVELOPMENT
Invest in Your Future, with Business Planning for 2016 Save the date for this educational and informative class! Please join us for a free educational seminar where we’ll help you develop a comprehensive business plan, along with realistic estimated costs for achieving your goals in 2016.
Event Details Date: Thursday, November 19, 2015
Together, we’ll take a look at the numbers and help you determine what you need to do to hit your goals for 2016.
Time: 11:00 am to 1:00 pm Location: Worcester Regional Association of Realtors
During this information-packed event you’ll: Find
out how many buyers and sellers you need to meet your sales and earning goals.
92 Washington St Auburn, MA 01501
Learn
how many appointments you need to go on to get buyers and sellers.
Learn
Lunch will be served.
how to calculate the cost to achieve your goals.
Find
out how to determine the number of people you need in your database to make your earning projection numbers a reality.
To get the most out of this class, please bring your average buyer sale price, average listing sale price, your buyer and listing conversion statistics, and a list of your annual real estate expenses.
Use your new business plan to help guide you through the upcoming year and into 2016! RSVP to Jacki D’Innocenzo, Worcester Regional Association of REALTORS®at 508-832-6600 x-200, or Prospect Mortgage Branch Manager (NMLS #29773) David Samara at 508-459-3610.
Don’t miss this opportunity to get the information you need to start the new year strong!
1393 Grafton St. Ste D. Worcester, MA 01604 | Branch ID: 77995 I am licensed to originate mortgage loans in the following state(s): CA. Loan inquiries and applications in states where I am not licensed will be referred to a Loan Officer who is licensed in the property state. Equal Housing Lender. Prospect Mortgage is located at 15301 Ventura Blvd., Suite D300, Sherman Oaks, CA 91403, 800-464-2484. Prospect Mortgage, LLC, NMLS ID #3296, (www.nmlsconsumeraccess.org) is a Delaware limited liability company licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act and operates with the following licenses: MA Mortgage Lender/Broker License #MC3296. This is not an offer for extension of credit or a commitment to lend. Loans are currently being closed and committed at the expressed rates, however these rates may change or may not be available at the time of your loan lock-in, commitment or closing. All loans must satisfy company underwriting guidelines, interest rates and APRs are based on recent market rates, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value ratio, credit score and other variables. Terms and conditions apply. Additional loan programs may be available. This is not an offer to enter into a rate lock agreement under MN law, or any other applicable law. Call for details. 03/2015. Rev 10.18.15 (0515-2122B) LR 2015-667
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PROFESSIONAL DEVELOPMENT REALTORS®
Commercial Alliance
Joint Class for WRAR and RCAMA Members:
CEU RE27RC07: 1031 Tax Deferred Exchanges Date: Time: Place: Price:
Ƈ Ƈ Ƈ Ƈ Ƈ Ƈ Ƈ
Monday, November 23, 2015 10:00 am – 12:00 pm WRAR, 492 Washington Street, Auburn FREE for members; $20 for non-members
What is a 1031 exchange? Internal Revenue Code Section 1031 Investors can potentially defer 100% of their capital gains taxes, both state and federal Taxpayer Relief Act of 1997 - IRC Section 121 principal residence Delayed exchange How to set up exchange Choosing a qualified intermediary Presented by Tim Halligan of The Exchange Authority
Worcester Regional Association of REALTORS®
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PROFESSIONAL DEVELOPMENT
Give Us An Hour… And We’ll Give You 166 Million Reasons to Use RPR Get introduced to the power of RPR: integrated tax, MLS data, foreclosure, flood maps, valuations, schools, virtually everything you need in one place to be a local market expert! Generate comprehensive buyer and seller reports in seconds,
Start using RPR Right Away!
and provide powerful analytics to determine values and list prices. This NAR member benefit is yours as a member of NAR; don’t miss this session to take advantage of this great member benefit.
DATE: Thursday, December 10, 2015 TIME: 12:30pm – 2:30pm LOCATION: Worcester Regional Assoc. of REALTORS® 492 Washington St Auburn, MA INSTRUCTOR: Kimberly Allard-Moccia www.wrar.org or 508-832-6600
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WRAR INSTALLATION OF OFFICERS & DIRECTORS
You are cordially invited to the 2015 Installation of Officers and Directors Thursday, December 3, 2015 The Beechwood Hotel
Ticket Price: $55 per person Registration closes Nov. 23
363 Plantation Street, Worcester 5:30 pm Registration & Cocktails iills ils 7:00 pm Dinner & Program
Thank you to our Sponsors: Platinum Plat P lati atinum Sponsor Sponsors: ors: or Jes essicaa Albino es A Alb lb lbin bino ino * Daviau Law Offices, Office Off ces, es, s, PC P * Fairway Fair The Law Office of Jessica Mortgage Prestige Home Mortgage * Southbridge Savings Bank * WinTrust Mortgage Gold Sponsors: Bank of Canton * Cahn & Barron, LLC, Attorneys at Law * Embrace Home Loans * Fidelity Bank Forward Financial Services * MLS PIN * Prospect Mortgage * Security First Mortgage * Webster Five Silver Sponsors: Commonwealth Environmental Services * The Law Office of Harry P. Kotseas Register online at www.wrar.org or return this form to Jacki D’Innocenzo via fax 508-832-6620 or via email jdinnocenzo@wrar.org.
Contact Name:________________________________________________________ Company:_______________________________________ Billing Address:_________________________________________________________ City/State/Zip____________________________________ Phone:___________________________________________ Email:______________________________________________________________ No. of Tickets: __________ Amount Due__________
____Check
____American Express
____Discover
____MasterCard
____Visa
Card No_____________________________________________________________________________ Expiration________________________ Signature____________________________________________________________________________________________________________ Dinner Selection: _____Chicken Piccata
_____Baked Haddock with a Lemon Chardonnay Sauce
Worcester Regional Association of REALTORS®
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_____Vegetarian (Chef’s Selection)
www.wrar.org
SPECIAL DR BREAKFAST
Special Event for Brokers and Managers ONLY Attention Office Principals! Register today for WRAR’s upcoming Office Principal Forum:
“MLS PIN A Look at the Future - Policy Changes, Syndication, and More" Only Office Principals and Office Managers are invited. You can be assured you will be in a room of only your peers.
Date: Monday, December 14 Time: 9:00 -10:30 am Cost: $15.00 Breakfast will be served
Panelists include: Kathy Condon, President & CEO MLS PIN John Breault, Director of Customer Support & Quality Assurance, MLS PIN
Topics for Discussion: 1. The Big Picture Ƈ Zillow, Trulia & REALTOR.com Ƈ How MLS PIN Will be Involved 2. An Update on Status Flags for Listings Ƈ Whether Changes are on the Horizon 3. Pinergy's Contact Manager 4. The Latest on VOW's and SEO 5. Your Questions Answered ...and more Register online at www.wrar.org Worcester Regional Association of REALTORS®
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CENTER FOR REAL ESTATE STUDIES & TRAINING Upcoming CEU Courses for November & December All classes are held at the Worcester Regional Association of REALTORSŽ CREST School, 492 Washington Street, Auburn, MA 01501.. We also hold periodic classes at the Fidelity Bank Building, 478 Mechanic Street in Leominster. WRAR 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.wrar.org or by calling the WRAR office at 508-832-6600. Time
Instructor
Course Code
Course Title
Auburn - Saturday, November 7, 2015 8:00am 10:00am 12:00pm
JoAnn Szymczak JoAnn Szymczak JoAnn Szymczak
RE55R05 Leisure Homes, Second Homes & Age Restricted Housing RE28RC12 Foreclosures RE16RC13 Zoning & Building Codes
Auburn - Tuesday, December 1, 2015 8:00am 10:00am 12:00pm
Gary Bourque Gary Bourque Gary Bourque
RE26RC07 Appraisal Process RE51R06 Facilitator RE35RC03 Offers
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can take a brief, conďŹ dential survey to determine their eligibility, matching them to all available programs. DPR helps enhance the marketability of your listings, while helping homebuyers overcome the biggest challenge to homeownership – the down payment. DPR is free for MLS PIN customers. With information on down payment assistance now in one place, you can guide your clients over the ďŹ nancial hurdles of buying a home.
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LOCAL MARKET UPDATE Local Market Update – September 2015 A RESEARCH TOOL PROVIDED BY THE MASSACHUSETTS ASSOCIATION OF REALTORS®
Worcester Regional Association of REALTORS®
+ 23.7%
+ 3.7%
- 17.7%
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
September
Single-Family Properties
2014 463 460 $244,000 3,004 6.8 101 94.3% 836
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
2015 665 552 $255,500 2,485 5.3 92 94.8% 890
Year to Date +/– + 43.6% + 20.0% + 4.7% - 17.3% - 21.8% - 8.9% + 0.5% + 6.5%
2014 4,170 3,938 $255,000 --107 94.7% 7,125
September
Condominium Properties
2014 108 98 $225,000 562 5.2 125 97.3% 167
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
2015 131 138 $224,250 450 3.9 90 96.4% 180
2015 4,913 4,283 $265,000 --104 95.3% 7,326
+/– + 17.8% + 8.8% + 3.9% --- 2.4% + 0.6% + 2.8%
Year to Date +/– + 21.3% + 40.8% - 0.3% - 19.9% - 24.8% - 27.4% - 1.0% + 7.8%
2014 1,012 973 $205,500 --100 96.2% 1,511
2015 1,176 1,043 $217,000 --93 96.3% 1,622
+/– + 16.2% + 7.2% + 5.6% --- 6.1% + 0.1% + 7.3%
* 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 1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
$100,000 1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
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 10K Research and Marketing.
Worcester Regional 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. My buyer client recently made an offer on a property, but the seller has not accepted the offer. May the buyer withdraw his offer? A. Generally, the buyer may withdraw the offer prior to the seller’s informing the buyer of the written acceptance. Once the seller informs the buyer of the written acceptance, however, that offer is binding and the buyer typically cannot withdraw without risk of losing his or her deposit, unless the withdrawal is based on an agreed upon contingency. Q. Is there a requirement in Massachusetts that a seller reject an offer in writing? A. No. Although a buyer may request that a written rejection be provided in response to their offer, there is no legal or ethical requirement that the seller do so. Q. Is it true that a consumer who signs an offer to buy a home has three days to change his mind even if a seller has accepted the offer? A. No. M.G.L. c. 93, s. 48 allows a consumer three business days in which to cancel an agreement for the sale or lease of goods or services in excess of $25 which are used primarily for personal, family or household purposes if the contract was signed at a place other than the seller or lessor’s office. For example, if a door-to-door salesperson convinces a consumer to sign a contract to have aluminum siding installed on his house, and the contract is signed at the consumer’s dining room table, the consumer would have three business days in which to rescind or cancel the contract. However, this statute has not been held to apply to real estate transactions since real estate is not a “good.” The reasoning behind the statute is that consumers who sign contracts in their homes are under higher pressure to do so than a person who signs a contract in a business office where he is free to leave.
Worcester Regional Association of REALTORS®
Q. I am selling my own listing to a customer who has asked me to recommend a home inspector. Is there a rule regarding seller’s agents recommending a home inspector? A. The law prohibits brokers and salespersons who are not working in the capacity of a buyer’s agent from directly recommending a specific home inspection company or home inspector. They may, however, provide a complete list of licensed home inspectors prepared by The Division of Professional Licensure, which can be accessed here: http://license.reg.state.ma.us/public/hi_biz/v_list_hi.asp. It is important to remember that this prohibition against recommending a home inspector shall not apply to agents working for the buyer as a buyer agent. Buyer agents are allowed to recommend a specific home inspector to clients. However, for liability reasons, it is always recommended that the buyer agent provide a list of several inspectors so that the client can choose a home inspector for themselves. Q. As a listing agent, can I make home inspectors’ business cards or other promotional material available? A. The law states that real estate agents (except those representing the buyer) cannot make direct or indirect recommendations on the use of home inspectors to their clients. The promotion of business cards and materials could be seen as indirectly recommending those home inspectors and therefore a violation of the statute.
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2015 BOARD OF DIRECTORS President, Brad Roberts President Elect, Kris Koliss Vice-President, Sarah Gustafson Secretary, Judy Pa erson Treasurer, Michael Meurant Immediate Past President, Dave Stead Diane Dabrowski Jayne Diliberto Tracey Fiorelli Erika Hall Lorraine Herbert Lee Joseph Kathy McSweeney Leslie Storrs James Keenan John Vaillancourt
Director Director Director Director Director Director Director Director Alternate Alternate
WRAR STAFF Execu ve VP, Colleen Pappas
WRAR COMMITTEE VOLUNTEER DAY You are cordially invited to
Committee Volunteer Day Thursday, November 5 3:30 - 4:30 pm Worcester Regional Assn. of REALTORS® 492 Washington Street Auburn, MA 01501
Office Manager, Lisa Sprague Marke ng Manager, Jacki D’Innocenzo Accountant, Maura O’Connor Come learn all about the committees at WRAR, what they offer, what YOU can offer them and how service can help your career! Wine, cheese & light hors d’oeuvres will be served. Please RSVP to Colleen Pappas at 508-832-6600, ext. 106, or via email at cpappas@wrar.org.
WRAR 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/WorcesterRegionalAssociationofREALTORS. By doing so you will not only get up-to-the-minute information on everything going on at WRAR, but you will help us to increase our visibility while growing your own business network. Be sure to download the WRAR app for easy access to all things WRAR! Visit the iphone store or the google play store and search for WRAR!
Worcester Regional Association of REALTORS®
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