October 2013 Inside this Issue:
President’s Message Happy Fall! Welcome October, the leaves are changing and so are other things - There are a lot of Regulatory issues set to happen around October 1 that effect our industry and Your RPAC Dollars have been HARD AT WORK to Protect your Livelihood and Homeownership.
President’s Message
1
October Month-at-a-Glance
2
Dues Incentive
3
Dues Budget Plan
4
Membership News
5
Member Benefits
6
Community Action Committee Drive
7
CREST
9
Upcoming Events
10-14
Annual Meeting
15-19
DR Breakfast
20
this policy.
Professional Standards Committee
20
Government Affairs
21
Legal Hotline
22-23
The Second Big topic is Flood Insurance -- see the Legal Hotline brief on page 18. The Flood Insurance Reform Act of 2012 phases out subsidized insurance rates and redraws the flood maps. Existing policies would go up 25% per year until they reach the full premium amount and on property transfer would automatically go to full premium amount. This could have dire effect on the value of any property that requires flood insurance. This is not just a Coastal issue. In Worcester County it could include home near lakes, ponds, rivers and streams. NAR has filed a brief explaining the effects that the sudden increase will have on Homeowners and Property values. On Page 19 there is sample Disclosure Language that MAR and NAR recommend REALTORS® use.
WRAR Mission Statement The purpose of the Worcester Regional Association of REALTORS® is to: * Provide 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.
The two BIGGEST issues that NAR has been actively pursuing are - First, HUD sent a letter to their mortgage servicers in July stating that they would no longer allow Dual Agency. HUD defined this to be any two real estate professional representing the buyer and seller that are affiliated under the same broker. NAR successfully got HUD to postpone this ban. NAR is still actively working to get HUD to reconsider the ban altogether and change
This is Your REALTOR® organizations working and helping you. You should have received your 2014 WRAR dues renewal shortly. WRAR is pleased to let you know that for the 7th year in a row there will be no increase to the WRAR portion of your dues. Please consider when paying your dues to Support RPAC at or above the recommended level. As a homeowner and Fellow REALTOR®, I thank you. Have a wonderful Fall! Warmest Regards,
Rochelle Rochelle Jonswold
2013 WRAR President Worcester Regional Association of REALTORS® 1 www.wrar.org
WRAR MONTH-AT-A-GLANCE October 2013 Sunday
6
Monday
7
Tuesday
Wednesday
Thursday
Friday 4
Saturday
1 9 -Gov’t Affairs Comm Mtg. 10 -CEU Class 1031 Exchange
2
3 2-4 Thirsty Thursday: Mock Arbitration
5 9-5 Sales Prelicense Class
8 9-3 MLS PIN Training
9 9 Finance Comm 10:30 BOD Mtg
10 11 12 11:30-1:00 Reno- 9:30 Membership 9-5 Sales Prevation Financing Comm Mtg license Class w/Wells Fargo
MAR CONVENTION
13
14
15
16 17 11 Lunch & Learn w/Fairway Mortgage
18
19 9-5 Sales Prelicense Class
25 8:30 DR Breakfast 1-4 Professional Standards Training
26
WRAR CLOSED
20
21 9-3 MLS PIN Training
22 10 Foreclosure CEU Class 12 Short Sales CEU Class
23 8:30 Annual Mtg. @ Holy Cross
24
27
28 9-5 MLS PIN Cloud/CMA
29
30 8-8 CEU Classes
31
Save the Date!
5:30 WCR Masquerade Ball Beechwood Hotel
Visit www.wrar.org for details
Friday, November 15, 2013 Packing & Sorting Day - Community Action Committee Hat/Mitten/Sock Drive Thursday, December 12, 2013: Installation of Officers & Directors Luncheon Cyprian Keyes, Boylston, MA
Worcester Regional Association of REALTORS® 2 www.wrar.org
For the 7th year in a row, WRAR is proud that we have not had a local dues increase!
2014 Due$ Incentive$ If you have not yet received your 2014 Dues invoice, please contact Lisa Sprague, as they were emailed to all members on October 1.
Get a head start on 2014 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 $272.00 $372.00
*Pay your entire dues in October and be entered into a drawing to win back your ENTIRE 2014 dues - over a $500 savings! Deadline for drawing is 10/31/13. (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 11/30/13. (REALTOR® members only.) There are two changes included in this year’s invoice : A $1 Scholarship Donation - Please consider donating towards this important member benefit. The RPAC $20 fair share donation has been increased to $20. Please consider giving your fair share sdo that we can continue our legislative efforts on your behalf .
Deadline for dues is December 31, 2013, to avoid late fees. NEED SOME EXTRA TIME? Enroll in our 2014 BUDGET PLAN by October 31, 2013. Reminder: If you do not sign up for the installment plan, your entire 2014 dues payment MUST be received by December 31, 2013 to avoid additional fees. The $60.00 late fees go into effect on January 1, 2014 -- there are no exceptions!
2014 DUES MAY BE PAID ONLINE AS OF OCTOBER 1, 2013. Worcester Regional Association of REALTORS® 3 www.wrar.org
2014 Dues Budget Plan Option for REALTOR® Members Under the 2014 Worcester Regional Association of REALTORS® Budget Plan, you may enroll in the plan to help spread the payments across time plus there are NO LATE FEES!!! Please enroll me in the 2014 plan: (includes a $10.00 service fee per payment) ST
$108.00 Designated REALTOR®
ND
$108.00 Designated REALTOR®
RD
$108.00 Designated REALTOR®
TH
$108.00 Designated REALTOR®
TH
$151.00 Designated REALTOR®
TH
$155.00 Designated REALTOR®
$ 83.00 REALTOR®
1 INSTALLMENT September 30, 2013
$ 83.00 REALTOR®
2 INSTALLMENT October 31, 2013
$ 83.00 REALTOR®
3 INSTALLMENT November 30, 2013
$ 83.00 REALTOR®
4 NSTALLMENT December 31, 2013
$151.00 REALTOR®
5 INSTALLMENT January 31, 2014
$155.00 REALTOR®
6 INSTALLMENT February 28, 2014
Please check here if you would like to contribute your Voluntary Fair Share Amount of $20.00 to RPAC. The budget amounts above do not reflect your contribution. We hope that you will help us reach our 2014 RPAC goal by donating. If you contribute, this one time payment of $20.00 will be assessed to your credit card on September 30, 2013 in addition to the above amount. I hereby enroll in the 2014 WRAR budget plan and understand that processing fees are included in the total amount. If total dues and service fees are not paid AS AGREED, my membership will terminate and I will be subject to all applicable reinstatement fees. Please note dues are non-refundable. ***The installment plan is available for CREDIT CARD purchase only.
If for any reason the credit card info provided is invalid or declined a $50.00 administration fee will be charged. Please fax to: 508-832-6620 or email the form to: lsprague@wrar.org Payment Information Name on Card: _____________________________________________ Billing Address: _____________________________________________ Card# Signature
__________- ___________-___________-___________
Exp. Date: _____________
_____________________________________________
We accept MasterCard, Visa, American Express and Discover I understand that WRAR will debit my credit card account as designated above in order to pay the fees and other charges and that all amounts due under the budget plan outlined above will be automatically charged to my credit card. I further understand that REALTOR® dues are non-refundable.
By signing this form you are agreeing to all the above terms. Worcester Regional Association of REALTORS® 4 www.wrar.org
MEMBERSHIP NEWS New Members - September Orientation Gina Bello Cherie Benoit Kevin Bergin Candice Bettencourt Andrea Carpenter Glen Cronan Michelle Curran Michelle Fanion Sara Flagg Karen Gammell Thomas Hoang Sharyn Hocurscak Daniel Jette Melanie Johnson Jonathan Judkins Sabrina Kelsey Donald Kjornes Patricia Kosiba John Kreiss Judith Kuhtreiber Michelle Lamontagne Sharon Luce Erin Mahoney Rosemary Mensah Ken Miller Dina Nichols Jasmine Ortiz Andy Paleologos Kim Poirier William Power Nathan Riel Jennifer Roux John Severino Joseph Stake Michelle Tebo Joseph Visone Judith Wesley Gwen Zilioli
Keller Williams Realty-Gr.Worc. Keller Williams Realty-Gr. Worc Century 21 Toomey Lovett Inc. Keller Williams Realty-Gr. Worc Emerson REALTORS ERA Key Realty Services RE/MAX Advantage1 ERA Key Realty Services Keller Williams Realty-Gr. Worc Eastern Alliance Realty, LLC Century 21 Center Home Realty ERA Key Realty Services Keller Williams Realty-Gr. Worc ERA Key Realty Services Keller Williams Realty-Gr. Worc Keller Williams Realty-Gr. Worc Exit Realty Partners Keller Williams Realty-Gr. Worc Prudential Prime Properties Spangler SELECT Real Estate Quaboag Valley Real Estate RE/MAX Professional Associates Michael Toomey & Associates Hope Realty & Associates Keller Williams Realty-Gr. Worc Coldwell Banker Res. Brokerage Keller Williams Realty-Gr. Worc RE/MAX Prestige ERA Key Realty Services RE/MAX Professional Associates Keller Williams Realty-Gr. Worc Exit Realty Partners Keller Williams Realty-Gr. Worc Coldwell Banker Res. Brokerage Quaboag Valley Real Estate Visone Realty Exit Realty Partners Real Living Barbera & Assoc.
New Applicants Jaime Aviles Joel Cortes Michael Dean Jennifer Garon Christine Greige Ross Kenyon David Leal Chris Marsicano Donna Pearson Joanne Rose Nuntana Savanorke Ingrid Swift Stacey West
RE/MAX Professional Associates Century 21 DeNault Realty Inc. Quaboag Valley Real Estate RE/MAX Professional Associates RE/MAX Professional Associates Nextage M3 Realty Keller Williams Realty-Gr. Worc Prudential Prime Properties Sullivan & Company Real Estate Keller Williams Realty-Gr. Worc Exit Realty Partners Coldwell Banker Res. Brokerage RE/MAX Prestige
Transferred Member Francis Laplume
C21 DeNault Realty
Worcester Worcester Spencer Worcester Auburn Worcester Worcester Spencer Worcester Shrewsbury Sterling Worcester Worcester Worcester Worcester Worcester Shrewsbury Worcester Westboro Shrewsbury Brookfield Shrewsbury N. Brookfield Worcester Worcester Shrewsbury Worcester Marlboro Milford Sturbridge Worcester Worcester Worcester Shrewsbury Brookfield Mendon Worcester Worcester
Shrewsbury Leominster Brookfield Shrewsbury Shrewsbury Worcester Worcester Hudson Brimfield Worcester Worcester Sturbridge Northboro
Leom.
Agents Transferred Cheryl Ann Kemp Dee Collard Ellie Cacollari Jennifer Dufrense Francis Laplume
M3 Realty of MA Grace Group Realty Keller Williams Realty Coldwell Banker C21 DeNault Realty
Worcester Ludlow Worcester Worcester Leominster
Reinstated Member
Chip LaRiviere Centuy 21 Irvine & Virginia Walsh Cynthia Quansah Keller Williams Realty-Gr. Worc
New Office Keith Higgins Sec. Broker Amy Mateus Sec. Broker
M3 Realty of MA 46 Wachusett Street Worcester Grace Group Realty 884 Poole Street Ludlow
New Affiliates Alison Adams Claire Burlas Karen Freeman Meredith Lewis Susan Lindberg Michael Morcone Bruce Varner
Security First Mortgage Funding 1 Ararat Street Worcester First Eastern Mortgage 130 Cedar Street Milford Mortgage Master 276 Turnpike Road Westboro Ross Mortgage Co. 134 Flanders Road Westboro Security First Mortgage Funding 1 Ararat Street Worcester Security First Mortgage Funding 1 Ararat Street Worcester Security First Mortgage Funding 1 Ararat Street Worcester
Milestones Sympathies
To the family of longtime REALTOR速, WRAR member and Past President Jim Fitzpatrick, who passed away in September.
Office Visits The Membership Committee has developed a
20-minute presentation on the benefits of being a member of the Worcester Regional Association of REALTORS速 and is ready to bring this roadshow to your office! If you would like to schedule a visit, please contact Lisa Sprague for arrangements via email at lsprague@wrar.org.
Worcester Regional Association of REALTORS速 5 www.wrar.org
TAKE ADVANTAGE OF YOUR MEMBERSHIP BENEFITS! Local WRAR Benefits NAR Benefits MAR Benefits REALTOR® Branding & PR Legal Hotline FREE CEU classes for members • The right to use the logo alone is • A potential savings of up to $180 enough to make it worthwhile! Technology Helpline • Regular Learning sessions in our own • NAR commercials working for you and classroom & via online webinars your success Information Resources • Courses for designations & specialties • FREE and reduced cost resources on • Bay State REALTOR® Magazine REALTOR.org • REALTOR® Digest electronic Community Presence newsletter • Community Action drives Information Resources • E-Messaging bulletins • Legislative Breakfast ® • REALTOR Magazine • MARealtor.com • Community Outreach • REALTOR.org • Habitat For Humanity Build Day • RPR.com (REALTOR® Property ReEducation & Designations source) • Professional Development Offerings Scholarships for relatives of REALTOR® • HouseLogic.com/members • MAR 2-Day conference and Affiliate Members • Annual “Profile of Home Buyers & • Professional designation courses Sellers” Report • GRI, CBR, CIPS, SRES, CRS • Online webinars Designations and Specialized Educational Opportunities Business Benefits & Discounts • Mid-Year Conference in Washington • Boston Bruins D.C. • Boston Herald Local Dispute Resolution System • Annual National Convention – over • Cambridge Eye Doctors • Grievance & Professional Standards 300 educational sessions • Edible Arrangements Committees • HomeGrade.com Business Benefits & Discounts • Jiffy Lube One on One Communication • AHS American Home Shield Warranty • MAR Vacation Center • E-blast messages Service • Postini • Monthly newsletters e-mailed to each • Avis Car Rental • Sullivan Tire member • Budget Car Rental • VistaPrint • Dell Computer Full-time, trained staff, available by phone • Docusign Shop.MARealtor.com and email • Entertainment Book • www.MARealtorWireless.com • Fedex • Check out the “MVPs” at MARealtor. Interactive website & event registration • Hertz com for more discounts & benefits! Recognition of the best and the brightest • Hewlett Packard • Identity Secure Technology • REALTOR® of the Year • Liberty Mutual • Free access to forms online • Affiliate of the Year • Lowes • Free online CEU classes • Distinguished Service Award • Office Max • Lifetime Achievement Award • SentiLock • Rookie of the Year • Xerox Business & Entertainment Discounts • Staples • RealEstateCalendars.com • BJs • Sharfman’s Jewelers – 10% discount • Herbert Berg Florist – 10% discount • FromYouFlowers.com – 20% discount
Worcester Regional Association of REALTORS® 6 www.wrar.org
COMMUNITY ACTION COMMITTEE
WRAR Community Action Committee Hat, Glove & Mitten Drive We are collecting NEW Hats, Gloves, Mittens and Socks for Children and Adults to be distributed to local service agencies. Please help in any way you can. NO DONATION IS TOO SMALL!
Items may be dropped at the following member offices: ● Coldwell Banker - Worcester ● Emerson REALTORS®, Auburn ● ERA Key - Oxford, Spencer, Whitinsville & Worcester ● Janice Mitchell Real Estate - Holden ● RE/MAX Professional - Charlton, Shrewsbury, Spencer & Sturbridge ● RE/MAX Vision - Worcester ● Residential Mortgage Services - Hopkinton & Worcester ● Warren Home Inspections, Ashland ● Worcester Regional Association of REALTORS® - Auburn
Deadline for donations: November 8, 2013
Cash donations welcomed - Make checks payable to WRAR. Worcester Regional Association of REALTORS® 7 www.wrar.org
PUBLIC DATA
School Rankings
MAPS
Detailed History
Community Reports
Agent Searches Estimated Home Values
What can you find on
?
Gain a competitive edge with The FindSM Application, a new research tool that’s free for MLS PIN customers. Accessible directly from Pinergy, The FindSM Application allows you to research property detail information, create customer reports, research property and ownership data, access property valuation information from multiple sources, and much more.
To use this new service, pull up the details of any property in the Pinergy system and look for these logos: PROPERTY
COMMUNITY
800-695-3000 | www.mlspin.com
FUNDRAISER IN MEMORY OF MARCIA HEAD
Raffle tickets are being sold to benefit the Hope Lodge in Worcester in memory of Marcia Head. Marcia touched the lives of many throughout her career. Only 200 tickets will be sold at $50 each. The grand prize is $1,000 worth of scratch tickets to the Mass State Lottery. Please see any WRAR BOD member or staff member to purchase a ticket.
Phone: _____________________ Ticket #A101
Thank you for your donation in Memory of Marcia Head
___________________________
Winners need not be present to win.
Address: ___________________
Only 200 tickets sold!
Name: _____________________
Raffle to be held (11/13/2013) Prize - $1000. of scratch tickets from Mass. State Lottery
Proceeds from raffle to benefit The Hope Lodge in Memory of Marcia Head $50.00 per ticket
SAMPLE - nOT FOR RESALE
Ticket #A101
Worcester Regional Association of REALTORSÂŽ 8 www.wrar.org
CENTER FOR REAL ESTATE STUDIES & TRAINING Upcoming CEU Courses for October All classes are held at the Worcester Regional Association of REALTORS® 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 $30 for each 2-hour CEU. You may register for classes online at www.CrestRealEstateSchool.com or by calling the WRAR office at 508-832-6600.
Auburn, Wednesday, October 30, 2013 Time
Instructor
Course Code
Course Title
8:00 - 10:00
Brad Roberts
RE07RC13
Closing and Settlement
10:00 - 12:00
Brad Roberts
RE44R05
Understanding Title & Title Concerns
12:00 - 2:00
Dave Bremer
RE75R12
Federal Housing Administration (FHA) Loans
2:00 - 4:00
Gene Check
RE49R05
Dual Agency
4:00 - 6:00
Gene Check
RE51R06
Facilitator
6:00 - 8:00
Gene Check
RE01R06
Seller Agency
NAR TECH EDGE Springfield, MA
This one-day, high energy conference is geared towards agents who are eager to learn how current web-based and mobile technologies can benefit their business and clients. Join NAR and the REALTOR® Association of Pioneer Valley on Friday, October 18th at the REALTOR® Association of Pioneer Valley from 9:00am - 4:30pm.
This event will be emceed by Bill Lublin. Topics Include: Content Strategy Facebook Digital Identities Social Media
Register Here: October 18, 2013 REALTOR® members $39 Early Bird by October 11 $49 after October 11 For additional information or to register visit: ePRONAR.com/nar_tech_edge
Portable Technologies Mobile Marketing Photo & Video & More!
For more information and to register go to www.epronar.com/nar_tech_edge.cfm Sponsor Silver:
Realtors Property Resource® (RPR)
For additional information or to register visit: ePRONAR.com/nar_tech_edge
Worcester Regional Association of REALTORS® 9 www.wrar.org
WRAR Presents: THIRSTY THURSDAY
THIRST FOR KNOWLEDGE! KNOWLEDGE
October’s Topic:
Mock Arbitration Professional Standards at Work for You Arbitration is a valuable service provided by the REALTOR® organization. Learn how the process works, and how it protects REALTORS® and their clients.
Thursday, October 3, 2013, 2:00 - 4:00 pm WRAR, 492 Washington Street, Auburn FREE to WRAR members; $30 for all others 3 ways to register: Online at www.wrar.org Call the WRAR office at 508-832-6600 Fill out the form below
Presenter:
Lee Joseph Chairman, Committee on Professional Standards WRAR 2013 REALTOR® of the Year
Our Sponsor:
O'Connell & O'Connell, P.C. Attorneys at Law 425 Pakachoag Street, Auburn, MA 01501 Tel: 508-832-5872 www.philipconnell.com
Sign me up ! Return this form via fax to 508-832-6620 or email to jdinnocenzo@wrar.org. You may also enroll online at www.wrar.org Name _____________________________________________________________________________________________________________ Billing Address______________________________________________________________________________________________________ City/State/Zip_______________________________________________________________________________________________________ Phone________________________________________________ email________________________________________________________ Credit Card #____________________________________________________________ Expiration___________________________________
Worcester Regional Association of REALTORS®
10 www.wrar.org
BEYOND THE ORDINARY
Register Now for the 2013 MAR Conference & Tradeshow With a full line-up of courses, leading national speakers and instructors, Professional Awards Recognition Dinner, silent auction, and top-notch industry tradeshow, you won’t want to miss this event!
Check out some of this year’s spectacular National Speakers!
For the latest info, log on to www.marconvention.com
Steve Pacinelli
is co-founder, Tech Savvy Agent &
Vice President, Real Estate Events, Move, Inc. This year’s session: *A Day in the Life of the Mobile Agent: Must-Have Apps & Tools *Connecting with Today’s Mobile & Tech Savvy Consumer
Richard Robbins
is co-founder & CEO of Richard Robbins International, Inc., who has spoken live to over 250,000 people worldwide. This year’s session: *Ignite Your Business
Stefan Swanepoel
is widely recognized as the leading visionary on real estate business trends, change and social media. This year’s session: *Real Estate Trends
MAR CONFERENCE & TRADESHOW October 7-8 Sea Crest Beach Hotel North Falmouth, MA
Nobu Hata
is the NAR Director of Digital Engagement, who brings his skill-set to NAR by delivering value-added information both in-person and through the digital domain. This year’s session: *The Changing Face of Real Estate *Lead Generation from Social Media
SPACE IS LIMITED SO
REGISTER NOW!
We are proud to have Lee Joseph of Coldwell Banker represent WRAR as our local REALTOR® of the Year as she competes with 16 REALTOR® members from other Associations across the state. Consider attending the MAR REALTOR® of the Year dinner on October 7 and be there to cheer Lee on!
Terri Morrison
is co-author of Kiss, Bow or Shake Hands and has appeared on CNN, CNBC, Bloomberg, BBC and many other stations across the globe. This year’s session: *Kiss, Bow or Shake Hands Sales & Marketing
Terry Watson
is a Distinguished Real Estate Instructor (DRI) who delivered the keynote address at the 2005 MAR Conference & Tradeshow. This year’s session: *Avoiding Real Estate Roadkill *Instructors Gone Wild
* Member Cost until September 20: $139 * New attendee (who hasn’t been to the conference in over 3 years): $119 * Bring a new attendee and you both pay $119
BeBesure toenter enter the WRAR Access Code: sure to your local association access code WORC13 BERK13 Worcester Regional Association of REALTORS®
11 www.wrar.org
RENOVATION FINANCING Steve Liedell - Renovation Lending Specialist, Wells Fargo Home Mortgage, closing approximately 50 renovation purchases per year. Learn how renovation lending can help you generate and sell more listings Learn how renovation lending can open up more potential properties for your buyers. Learn about renovation loans for second homes and investment properties Learn how to differentiate yourself from other REALTORS® Learn how to turn a lemon into lemonade! Michael McDermott - FHA Consultant
Thursday, October 10, 2013 11:30 am to 1:00 pm Worcester Regional Association of REALTORS® 492 Washington Street Auburn, MA 01501 FREE to WRAR Members Luncheon provided Register at www.wrar.org or call 508-832-6600.
Learn about the role of the FHA Consultant in the renovation loan process Learn about recent trends in renovations to help improve home values
Your host and sponsor: Kwame Bonsu - Retail Sales Manager, Wells Fargo Home Mortgage
WELLS HOME FARGO MORTGAGE Wells Fargo Home Mortgage | 2200 W Park Dr | Westborough, MA 01581 MAC M3766-011 Tel (508) 616-1020 | Cell (617) 763-7300 | Fax (866) 932-9882
Worcester Regional Association of REALTORS®
12 www.wrar.org
Lunch & Learn CEU Course #RE25RC08:
The New Mortgage Rules that will give you a Leg Up on Your Competition! The rules have changed regarding the “Good Faith Es�mate.” At our LLunch unch h and d Learn Learn session you will learn: • • • • •
The New Good Faith Es�mate Rules and how they impact you How to make sure a “Pre-Approval” from a lender is legi�mate and if you can depend on it. The mistakes REALTORS® make when relying on “Pre-Qualica�on” le�ers and how you can avoid them. How to submit stronger offers and be in a posi�on of strength when nego�a�ng. The 3 important strategies you need to nish your year off strong.
Date: RegistraƟon: Program: Place: Cost:
Wednesday, October 16, 2013 10:30 am 11:00 am - 1:00 pm WRAR, 492 Washington Street, Auburn, MA FREE to WRAR Members; $30 for all others
Pre-RegistraƟon REQUIRED! Call the Worcester Regional Assn. of REALTORS® at 508-832-6600 or register online at www.wrar.org.
Worcester Regional Association of REALTORS®
Class and Luncheon Sponsored by:
AƩorney ChrisƟne Zicaro and Bill Murphy of Fairway Mortgage
13 www.wrar.org
FORECLOSURES & SHORT SALES
Earn 2 CEU’s per class. October 22, 2013 10 am - 12 pm Foreclosures - RE28RC12 12 - 2 pm Short Sales - RE78R13 Worcester Regional Assn. of REALTORS® 492 Washington Street, Auburn, MA FREE for WRAR Members; $30 for all others
*The basic process of Short Sales & Foreclosures and changes to the processes *Updates on market activity in distressed sales *”Shadow” inventory, government programs and recent litgation *The challenges today’s Real Estate Professionals encounter and strategies for success in dealing with distressed properties
FOUR ways to register: Call the Worcester Regional Assn. of REALTORS® at 508-832-6600, return this form via fax to 508-832-6620, via email to lwalls@wrar.org or register online at www.wrar.org Name______________________________________________________________________ Company___________________________________________________________________ Address____________________________________________________________________ email______________________________________________________________________ Phone:_____________________________________________________________________
Worcester Regional Association of REALTORS®
14 www.wrar.org
2013 ANNUAL MEETING Wednesday, Oct. 23, 2013 College of the Holy Cross 8:30 am Registration 8:45 am Breakfast Buffet 9:00 am Program
Early Bird Price: $20 before 10/4/13 Regular Price: $25 after 10/4 Onsite (Walk-ins): $30
2014 Budget 2014 Nominating Committee 2014 Officers & Directors 2014 MAR State Directors 2014 Dues Payment Installment Plan
For more info or to register, contact Jacki D’Innocenzo at 508-832-6600 or via email jdinnocenzo@wrar.org. You may also mail or fax this form to WRAR, 492 Washington Street, Auburn, MA 01501 * Fax 508-832-6620. Contact Name:______________________________________________ Company:__________________________________ Billing Address:_______________________________________________ City/State/Zip_______________________________ Phone:___________________________________________ Email:_______________________________________________ Amount Due__________
____Check
____American Express
____Discover
____MasterCard
____Visa
Card No______________________________________________________________ Expiration________________________ Signature_____________________________________________________________________________________________
Worcester Regional Association of REALTORS®
15 www.wrar.org
It’s Your Time to Vote The following is the 2014 Slate of Officers, Directors, MAR Directors, and Nominating Committee for the Worcester Regional Association of REALTORS. This information, including Bylaw updates (reverse) and 2014 budget will be on the agenda at the Annual Meeting, October 23, 2013. The Nominating Committee of the Worcester Regional Association of REALTORS recommends the following slate of Officers & Directors for 2014 WRAR Board of Directors 2014 President: President Elect: Vice President: Secretary: Treasurer: Immediate Past Pres.:
David Stead Brad Roberts Kris Koliss Sarah Gustafson Conrad Allen Rochelle Jonswold
Term Expires 2014 2014 2014 2014 2014 2014
Directors:
Leslie DelMonaco Judy Patterson Mary Stolarczyk Jayne Diliberto Kathleen Cooper Erika Hall Tracey Fiorelli Lee Joseph Lorraine Herbert
2014 2014 2014 2015 2015 2015 2016 2016 2016
Kathleen McSweeney Diane Dabrowski Dawne Woods
2014 2014 2014
Alternate:
MAR Board of Directors 2014 Directors:
Ed Levine Jane Fine Leslie DelMonaco Brad Roberts Sarah Gustafson David Stead Rochelle Jonswold
Term Expires 2014 2014 2014 2014 2014 2015 2015
Alternate:
Ericka Hall Kris Koliss
2014 2014
TwoYear Term
Once Presidency term is served, President then serves on the Board as Immediate Past President
WRAR Nominating Committee 2014 Rochelle Jonswold Chair, Past President David Stead , President Brad Roberts President-Elect Mary Tavolieri Matteo Gentile Patricia Murray Randall DeVries Sue-Anne Bock Diane DeCiccio Mark Balestracci
Worcester Regional Association of REALTORS®
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Bylaw Changes for 2013 Annual Meeting CURRENT BYLAW: Article XI - Officers and Directors Section l. Officers. The elected officers of the Board shall be: a President, a President Elect, a Vice President, a Secretary, and a Treasurer. The Secretary and Treasurer may be the same person. Officers shall be elected for terms of one year. The non-elected Officer of the Board shall be the Executive Vice President/Executive Officer, who shall be appointed by the Board of Directors. CHANGE: Addition of: Immediate Past President being included as a non-elected officer of the Board RATIONALE: Housekeeping issue as the Immediate Past President is part of the Executive Committee and an Officer REVISED: Article XI - Officers and Directors Section l. Officers. The elected officers of the Board shall be: a President, a President Elect, a Vice President, a Secretary, and a Treasurer. The Secretary and Treasurer may be the same person. Officers shall be elected for terms of one year. The non-elected Officers of the Board shall be the Executive Vice President/Executive Officer, who shall be appointed by the Board of Directors and the Immediate Past President. CURRENT BYLAW: Article XI - Officers and Directors Section 2. Duties of Officers (c) Vice President: The Vice-President shall have such powers and shall perform such duties as the Board of Directors may from time to time designate. The Vice President shall be a member of the Budget-Finance Committee and of any other committee to which he is appointed. In the absence, incapacity, or disability of the President-Elect, the Vice President shall perform all the duties of the PresidentElect, and when so acting shall have all of the powers of, and be subject to all restrictions imposed upon, the President-Elect. CHANGE: Addition of: The Vice-President is in charge of overseeing the committees to be sure they are on track with the goals of the association. RATIONALE: Housekeeping issue as the duties of the Vice-President include oversight of committees. REVISED: Article XI - Officers and Directors Section 2. Duties of Officers (c) Vice President: The Vice-President shall have such powers and shall perform such duties as the Board of Directors may from time to time designate. The Vice President shall be a member of the Budget-Finance Committee and of any other committee to which he is appointed. In addition, the Vice-President is tasked with overseeing the committees to be sure they are on track with the goals of the association. In the absence, incapacity, or disability of the President-Elect, the Vice President shall perform all the duties of the PresidentElect, and when so acting shall have all of the powers of, and be subject to all restrictions imposed upon, the President-Elect. CURRENT BYLAW: Article XI - Officers and Directors Section 2. Duties of Officers CHANGE: Addition of: The role of Immediate Past President RATIONALE: Housekeeping issue as the duties of the Immediate Past President was excluded from section. REVISED: (g) Immediate Past President: The Immediate Past President shall have such powers and shall perform such duties as the Board of Directors may from time to time designate. The Immediate Past President shall be a member of the Budget-Finance Committee and of any other committee to which he is appointed. In addition, the Immediate Past President is tasked with chairing the Nominating Committee. CURRENT BYLAW: Article XI - Officers and Directors Section 3. Board of Directors (a) Number and Composition. The governing body of the Board shall be a Board of Directors consisting of not less than eleven (11) REALTOR速 members, five (5) of whom shall be the elected Officers. Directors shall be elected to serve for terms of three years, except that at organization, one-third of the elected Directors shall be elected for terms of one, two, and three years, respectively, or for lesser terms as may be necessary to complete the first fiscal year. Thereafter, as many Directors shall be elected each year as are required to fill vacancies. CHANGE: Addition of: The Board may include alternate directors who would have voting privileges to meet the requirements of a quorum as defined in Article XII, Section 2b of the bylaws. RATIONALE The position of alternate director is an important one and our current bylaws did not address the position. REVISED: (a) Number and Composition. The governing body of the Board shall be a Board of Directors consisting of not less than eleven (11) REALTOR速 members, five (5) of whom shall be the elected Officers. Directors shall be elected to serve for terms of three years, except of 4
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that at organization, one-third of the elected Directors shall be elected for terms of one, two, and three years, respectively, or for lesser terms as may be necessary to complete the first fiscal year. Thereafter, as many Directors shall be elected each year as are required to fill vacancies. The Board may include alternate directors who would have voting privileges to meet the requirements of a quorum as defined in Article XII, Section 2b of the bylaws CURRENT BYLAW: Article XI - Officers and Directors Section 4. Election of Officers and Directors (a)Nominating Committee. The Nominating Committee shall consist of ten (10) REALTOR® members, one (1) of whom shall be appointed by the Board of Directors, six (6) of whom shall be elected by the members at the annual meeting of members, plus the current President of the Board, the current President-Elect, and the immediate Past President of the Board. At the time the Nominating Committee submits its report of candidates for office pursuant to Section b hereof, it shall include a list of six (6) candidates for members of the Nominating Committee to be selected by the members at the annual meeting. Additional names may be submitted by the members to the Secretary of the Board not later than two (2) weeks before the annual meeting of members. The Secretary of the Board shall send notice of such additional nominations to all REALTOR® members eligible to vote before the election. No nominations for members of the Nominating Committee shall be accepted from the floor at the annual meeting of members. Members of the Nominating Committee shall not be eligible as candidates for offices of the Board or its Board of Directors. The criteria for selecting members of the Nominating Committee and the method of selection shall be as defined in the Operating Policies and Procedures of the Board, as amended from time to time. CHANGE: Addition of: The Nominating Committee shall be chaired by the Immediate Past President. The committee members will be eligible to serve a maximum of two (2) successive terms of two years. RATIONALE Housekeeping issue as the chair was not listed and we have now added term limits to the committee. REVISED: (a)Nominating Committee. The Nominating Committee shall consist of ten (10) REALTOR® members, one (1) of whom shall be appointed by the Board of Directors, six (6) of whom shall be elected by the members at the annual meeting of members, plus the current President of the Board, the current President-Elect, and the immediate Past President of the Board. At the time the Nominating Committee submits its report of candidates for office pursuant to Section b hereof, it shall include a list of six (6) candidates for members of the Nominating Committee to be selected by the members at the annual meeting. Additional names may be submitted by the members to the Secretary of the Board not later than two (2) weeks before the annual meeting of members. The Secretary of the Board shall send notice of such additional nominations to all REALTOR® members eligible to vote before the election. No nominations for members of the Nominating Committee shall be accepted from the floor at the annual meeting of members. Members of the Nominating Committee shall not be eligible as candidates for offices of the Board or its Board of Directors. The criteria for selecting members of the Nominating Committee and the method of selection shall be as defined in the Operating Policies and Procedures of the Board, as amended from time to time. The Nominating Committee shall be chaired by the Immediate Past President. The committee members will be eligible to serve a maximum of two (2) successive terms of two years. Additional change to same section: (b) Selection of Candidates for Office. In the first year of adoption of these Bylaws, the Nominating Committee shall select one candidate for each office, including that of President, and one candidate for each place to be filled by election on the Board of Directors and State Directors. Thereafter, the Nominating Committee shall select one candidate for all offices, except that of the President, and one candidate for each place to be filled on the Board of Directors and State Directors. The report of the Nominating Committee shall be mailed to each member at least four weeks preceding the date of the annual meeting of members. Additional candidates for the offices to be filled may be placed in nomination by a petition signed by at least twenty percent (20%) of the members. The petition shall be filed with the Secretary at least two weeks before the annual meeting of members. The Secretary shall send notice of such additional nominations to all REALTOR® members eligible to vote before the election. Candidates shall meet the criteria delineated in the Operating Policies and Procedures of the Board. No nominations for Officers, Directors, or State Directors shall be taken from the floor of the annual meeting of members. CHANGE: The report of the Nominating Committee shall be mailed electronically or otherwise to each member at least four weeks preceding the date of the annual meeting of members. RATIONALE Housekeeping issue as we may elect to email the report rather than postal. REVISED: (b) Selection of Candidates for Office. In the first year of adoption of these Bylaws, the Nominating Committee shall select one candidate for each office, including that of President, and one candidate for each place to be filled by election on the Board of Directors and State Directors. Thereafter, the Nominating Committee shall select one candidate for all offices, except that of the President, and one candidate for each place to be filled on the Board of Directors and State Directors. The report of the Nominating Committee shall be mailed electronically or otherwise to each member at least four weeks preceding the date of the annual meeting of members. Additional candidates for the offices to be filled may be placed in nomination by a petition signed by at least twenty percent (20%) of the members. The petition shall be filed with the Secretary at least two weeks before the annual meeting of members. The Secretary shall send notice of such additional nominations to all REALTOR® members eligible to vote before the election. Candidates shall meet the criteria delineated in the Operating Policies and Procedures of the Board. No nominations for Officers, Directors, or State Directors shall be taken from the floor of the annual meeting of members. of 4
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CURRENT BYLAW: Article XII- Meetings Section 2. Meetings of Directors (b) Quorum. At any meeting of the Board of Directors, a quorum for any election or for the consideration of any question shall consist of a majority of the Directors then in office. Whether or not a quorum is present, any meeting may be adjourned from time to time by a majority of the votes properly cast upon the questions, and the meeting may be held as adjourned without further notice when a quorum is present at any meeting. The votes of a majority of the Directors present shall be requisite and sufficient for election to any office and shall decide any question brought before such meeting, except in any case where a larger vote is required by law, by the Articles of Organization, or these Bylaws. CHANGE: Addition of: A quorum is defined as 2/3 of the Directors in attendance. RATIONALE: Housekeeping issue as Quorum was not clearly defined. REVISED: Article XII- Meetings Section 2. Meetings of Directors (b) Quorum. At any meeting of the Board of Directors, a quorum for any election or for the consideration of any question shall consist of 2/3 of the Directors in attendance. Whether or not a quorum is present, any meeting may be adjourned from time to time by a majority of the votes properly cast upon the questions, and the meeting may be held as adjourned without further notice when a quorum is present at any meeting. The votes of a majority of the Directors present shall be requisite and sufficient for election to any office and shall decide any question brought before such meeting, except in any case where a larger vote is required by law, by the Articles of Organization, or these Bylaws..
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DR BREAKFAST Events designed specifically for Broker-Owners, Managers and Team Leaders:
Broker’s Compensation – When, Where and How!! Join your fellow brokers as they discuss current market trends with Boston Board General Counsel William Mullen moderating a lively discussion. Date: Breakfast: Program: Q&A: Location: Price: Instructors:
Friday, Oct. 25, 2013 8:30 am 9:00-10:00 am 10:00-10:30 am WRAR, 492 Washington St., Auburn, MA 01501 $15 William G. Mullen III, Esq., Legal Counsel & Director of Risk Management, GBAR
PROFESSIONAL STANDARDS TRAINING Are you interested in becoming a member of the Professional Standards Committee? Then you MUST attend this required class. The purpose of this program is to teach participants about the procedures of ethics and arbitration hearings. The participants in this program will be able to demonstrate an understanding of the REALTOR® Professional Standards process, including the functions and responsibilities of the Grievance Committee, the Professional Standards Committee and the Board of Directors. More specifically, the course will focus on how to be an arbitration or ethics panelist. The procedures and possible results of hearings will be covered along with an investigation of the factors to be considered in the determination of procuring cause. This course also meets the requirement of NAR’s mandatory quadrennial ethics training and offers two hours of continuing education credits. To register, please complete the following information and send to Ashley Stolba via email at astolba@marealtor.com or via fax at 781-839-5570. Registrations are accepted on a first-come-first-serve basis. Registration closes October 16, 2012. Date & Time: Friday, Oct. 25, 2013; 1:00 - 4:00 pm Location: WRAR, 492 Washington St., Auburn, MA 01501 Price: Free for WRAR Members Instructors: William G. Mullen III, Esq., Legal Counsel & Director of Risk Management, GBAR If you are interested in the Professional Standards Committee and in attending this training, contact Colleen Pappas, WRAR EVP, at 508-832-6600, x106.
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GOVERNMENT AFFAIRS COMMITTEE HUD Policy on Dual Agency Agreements FROM: DATE:
NAR Government Affairs 23 September 2013
As reported earlier this week, NAR Government Affairs informed you that on October 1st HUD would be implementing a new policy that would have prevented dual agency agreements in FHA pre-foreclosure transactions. NAR has been working with HUD closely to modify the policy. This afternoon HUD reported to NAR that they will reissue the July Mortgagee Letter and remove all dual agency language (Part Three of the PFS Participation Requirements). The result is that the dual agency policy will not be implemented on October 1, 2013 allowing NAR to continue the dialog with agency officials on a formal solution. HUD announced the policy change in response to fraud and abuse detected by the HUD Inspector General in the pre-foreclosure sales process. The letters sent to HUD by our State and Local Association Presidents highlighted NARs concerns about the policy and the disruptive effect its implementation would have on communities across the nation.
Please consider checking off the RPAC box on your dues invoice and giving your fair share so that we can continue our legislative efforts on your behalf.
Thank you for your quick response and assistance. We will continue to keep you apprised of any additional developments.
Congratulations to Sarah Gustafson! In their 14th annual celebration of up-andcomers in the Central Massachusetts business arena, the Worcester Business Journal has honored our very own Sarah Gustafson. Like their 520 alumni, the members of the 40 Under Forty Class of 2013 all have unique stories to tell. Sarah, of Coldwell Banker in Sturbridge, resides in Webster and is the Chairman of our Committee on Government Affairs. This year’s honorees were selected after a months-long call for nominations, in which dozens were received. This year’s panel of judges included Barbara Clifford of the CorridorNine Area Chamber of Commerce, Rodney Capron of Pongo LLC and Synthenet Corp. in Northborough (and a 40 Under Forty honoree, Class of 2008), Joe Cox of The Ecotarium in Worcester, and Maureen Grenier of Mirick O’Connell (a 40 Under Forty honoree, Class of 2010). Each nomination was evaluated based on the individual’s career trajectory, as well as his or her commitment to the local community. See each honoree’s biography below. To read Sarah’s complete bio, visit http://www.wbjournal.com/article/20130902/PRINTEDITION/308309984/1002
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LEGAL CORNER MAR Legal Hotline Michael McDonagh, MAR General Counsel, and Ashley Stolba, MAR Associate Counsel
National Flood Insurance Program The National Flood Insurance Program (NFIP) has be-
come a hot topic lately. REALTORS must be aware of the possible changes to NFIP, and be sure to take steps to avoid potential claims of misrepresentation by property purchasers who acquire property before such increases take effect and are later subject to substantial increases in their flood insurance premiums. What is the Biggert-Waters Flood Insurance Reform Act of 2012? The Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12) is a law passed by Congress and signed by the President in 2012 that extends the National Flood Insurance Program (NFIP), a government program that provides flood insurance coverage to homeowners and businesses, for five years. The Act also requires significant program reform, including phasing out subsidized flood insurance rates and redesigning the rate structure so that the premium structure more adequately reflects the true risks and costs of flooding. For those who own properties located in flood-prone areas, homeowners may see a 25 % increase in premium rates each year until premiums reflect full risk rates, as early as October 1, 2013. NAR is, however, working with Congress to pass a bill to delay and alleviate some of the impacts. If a property is not currently in a flood zone, could it be located in a flood zone in the future? Yes, it could be. In addition to the changes resulting from the Biggert-Waters Flood Insurance Reform Act, FEMA also began a routine redrawing of federal flood maps in 2009, some of which hadn’t been updated in decades. This re-mapping will result in some properties changing to higher-risk zones, which will mean significantly higher premiums; it could also result in some properties changing to lower-risk zones. If I am selling a property that may require flood insurance, or that is located in areas where the purchase of flood insurance may be prudent, what steps should I take to protect myself, and act in the best interest of my client? Worcester Regional Association of REALTORS®
• In general, the Massachusetts Consumer Protection Act, Chapter 93A, requires REALTORS to disclose adverse material features, conditions, or aspects of property of which they have actual knowledge. REALTORS normally are not required to investigate or discover potential defects in a property; therefore, it is unlikely that there would be an affirmative duty for REALTORS to determine whether a property is in a flood zone or otherwise in an area likely to be subject to flooding or flood risks. However, if a REALTOR has actual knowledge that a property being marketed for sale is in an area where flood insurance is required, or has specific knowledge that flood insurance has been required for that particular property in the past, those facts should be disclosed to the buyer. This same holds true if the REALTOR has actual knowledge that the area in which the property is located has experienced flooding or is subject to flood risks that cause many or most owners to purchase flood insurance – those facts should also be disclosed, even if not asked. • It is always advised that you be the “source of the source.” Therefore, you should be prepared to point prospective purchasers to “official” sources or those otherwise known to be competent and reliable regarding Flood Insurance. These might include publications, pamphlets, or similar materials prepared or distributed by FEMA or other federal or state agencies or departments, or other sources known to be credible. Some reputable sources include: http:// www.fema.gov/flood-insurance-reform-act-2012 and http://www.floodsmart.gov/floodsmart/. The National Association of REALTORS has a lot of helpful information at: http://www.realtor.org/topics/national-flood-insurance-program-nfip/resources. • It is also advisable to recommend that potential purchasers contact multiple suppliers of flood insurance policy coverage to receive more information about flood insurance coverage and rates. Brokers and agents should not recommend or endorse any particular carrier, and it is prudent to identify more than one carrier and encourage interested buyers to compare flood insurance carriers. 22 www.wrar.org
2013 BOARD OF DIRECTORS
President, Rochelle Jonswold Pres. Elect, Dave Stead Vice President, Brad Roberts Secretary, Kris Koliss Treasurer, Mary Gale Past President, Diane DeCiccio Jayne DiLiberto, Director Tony Economou, Director Sarah Gustafson, Director Erika Hall, Director Lorraine Herbert, Director Judy Patterson, Director Judy Reynolds, Director Mary Stolarczyk, Director Leslie Storrs, Director Kathleen Cooper, Alternate Tracy Fiorelli, Alternate Gina Lewis, Alternate WRAR STAFF Executive VP, Colleen Pappas Membership Manager, Lisa Sprague Programs & Events Coordinator, Jacki D’Innocenzo Staff Accountant, Maura O’Connor Administrative Assistant, Lynne Walls
LEGAL CORNER (contined) • If you suspect that flood insurance may be required or prudent, you should advise prospective purchasers that due to recent changes to the NFIP, combined with re-mapping of the flood zones, flood insurance rates could be higher than in the past. Such advice should explain that current flood insurance premiums are not representative of rates in the future and that rates may increase. An example of a disclosure statement that could be used for this purpose has been drafted by the National Association of REALTORS, and is copied below. Brokers and agents may also use different methods or language in communicating information about flood insurance, but it is advisable to do so in writing. In circumstances where flood insurance is not required and there is no reasonable basis for a broker or agent to believe that it may be required or is prudent to have, no such disclosure need be provided. SAMPLE DISCLOSURE: Your mortgage lender [may] [will] require you to purchase flood insurance in connection with your purchase of this property. The National Flood Insurance Program provides for the availability of flood insurance but also establishes flood insurance policy premiums based on the risk of flooding in the area where properties are located. Due to recent amendments to federal law governing the NFIP those premiums are increasing, and in some cases will rise by a substantial amount over the premiums previously charged for flood insurance for the property. As a result, you should not rely on the premiums paid for flood insurance on this property previously as an indication of the premiums that will apply after you complete your purchase. In considering your purchase of this property you should consult with one or more carriers of flood insurance for a better understanding of flood insurance coverage, the premiums that are likely to be required to purchase such insurance and any available information about how those premiums may increase in the future. If you have any questions on the National Flood Insurance Program, we suggest you visit the website mentioned above. Additionally, you may call the Legal Hotline at 1-800-370-LEGAL.
WRAR office hours are 9:00 am— 5:00 pm. For assistance with the MLS Lockbox system, please make an appointment with Lynne Walls at 508-832-6600. Please LIKE our facebook page at https://www. facebook.com/ WorcesterRegionalAssociationofREALTORS.
By doing so you will not only get upto-the-minute information on everything going on at WRAR, but you will help us to increase our visibility while growing your own business network.
Congratulations to our newest REALTOR® members, pictured here with 2013 WRAR President, Rochelle Jonswold (front row, end), at September’s New Member Orientation.
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