September 2014 Inside this Issue: PRESIDENT’S MESSAGE President’s Message
1
September Month-at-a-Glance
2
REALTOR® Safety
3
MAR News
4
REALTOR® Domains
6
Classes & Events
8-16
CBR Designation
17
Membership News
18-20
YPN Summer Outing
21
CREST
22
Gov’t Affairs
23
Local Market Update
24
Legal Corner
25
Community Action
26
WRAR Mission Statement The purpose of the Worcester Regional Association of REALTORS® is to:
Like it or not, September is here. It’s time to put away the short sleeve shirts and break out the sweaters. We lost an over an hour of daylight in August and we’ll lose almost 3 minutes a day; a total of an hour and 21 minutes in September. Get your flashlights ready for those 7pm showing appointments. If you have kids, there is something to smile about: It’s back to school time. At the board office Karen Richardson and our community action committee packed over 400 backpacks full of school supplies last week for needy area kids. Thank you to everyone who donated backpacks and supplies and all of our members who volunteered to pack them up. This has a huge impact on both the kids and their teachers and they sincerely appreciate all of your efforts. The Backpack drive was a huge success. September is National REALTOR® Safety month and there’s a Business Builder session called “Self Defense for the Real Estate Professional” on 9/11 that we should all attend. There’s no doubt real estate can be dangerous, and this class will help you be more aware and better prepared for those situations. We’ve had great attendance at these business builder events all year, and the feedback from our members has been fantastic. There’s limited space in the classroom, so resister early. One of the issues we’ve had at the board office is limited parking, which has forced us to limit the number of people who could register for events, or hold them at outside venues. Our long term goals included expanding our parking area so we could accommodate more cars and bigger programs. The Finance Committee, Board of Directors, and Parking Lot Task Force worked toward this goal for many years, and we’ve now done it. We’re happy to announce there are 35 additional parking space. This will allow more people to attend programs, and significantly improve the value of our building.
* Provide members with the resources that enable them to serve the public in an ethical and professional manner
Our annual legislative breakfast is Sept 19th at Holy Cross. We hold this meeting jointly with the Builder’s Association and it’s always a great success. It’s an election year, so we’re sure to have a great turnout by our local legislators. I hope to see you there.
* Take an active role regarding issues affecting sellers, buyers, tenants and landlords.
There are also lots of continuing education and lunch & learn events this month. Check the WRAR.org calendar for details. Have a great month and please be careful out there.
Dave Dave Stead 2014 WRAR President Worcester Regional Association of REALTORS® 1 www.wrar.org
WRAR MONTH-AT-A-GLANCE September 2014 Sunday
Monday 1 Labor Day
Tuesday
Wednesday
Thursday
Friday
2 3 9 Govt Affairs Mtg
4 10 Prof Standards Comm Mtg.
5 9:30 YPN 10 Nominating Comm Mtg 1-2 & 3-4 Ziplogic Training
6
9 1-3:30 MAR Caucus @ WRAR
11 2-4 Bus. Builder
12 8-2 CEU Classes
13 8-12 Sales Class
4-5 Prof Dev Comm Mtg.
10 Membership Comm Mtg.
WRAR CLOSED 7
8 8:30 DR Breakfast 5:30-9:30 Sales Class
10 9:30 Finance 10:30 BOD 9:30-3:30 MLS PIN Training
Saturday
14
15 5:30-9:30 Sales Class
16 10:30-1 Lunch & Learn w/Fairway Mortgage
17 18 8:30-3 New Mem- 9-12 Planting Day ber Orientation 1:00 Scholarship 6-9 WCR Fashion Comm Mtg Show @Wachusett Country Club
19 8 Legislative Breakfast - Holy Cross
20 8-12 Sales Class
21
22 9:30-3:30 MLS PIN Training
23 8-2 CEU Classes
24
26 11:30-2 Lunch & Learn w/ Contour Mortgage
27 8-12 Sales Class
25
5:30-9:30 Sales Class 28
29 1:00-3:00 Buy Worcester Now 5:30-9:30 Sales Class
30 Deadline for 2015 Dues Budget Plan
There is a Professional Standards Committee meeting on Thursday, October 4, at 10 am. If anyone is interested in joining this very important group, please feel free to attend.
Save the Date Wednesday, Oct. 22
WRAR Annual Meeting at College of the Holy Cross
Wednesday & Thursday Certified Buyer Representative Designation Class October 29 & 30 PAYMENT PLAN AVAILABLE - CONTACT US! Thursday, Dec. 4
Installation of 2015 Officers & Directors Luncheon at the Wachusett Country Club
Worcester Regional Association of REALTORS速 2 www.wrar.org
SEPTEMBER IS REALTOR® SAFETY MONTH REALTOR® Safety Webinar: Safety Tips to Share With Sellers The National Association of REALTORS® has worked hard to keep REALTOR® Safety foremost in everyone’s minds. But what about your clients? They, too, face some dangers in allowing strangers into their homes or visiting other people’s properties. During this free NAR REALTOR® Safety webinar, presented by Sergeant Preston Taylor, we will discuss valuable advice and steps to share with your clients to help protect them against crime. You will learn:
• • • •
Items that need to be safely put away How thieves are able to access personal information What thieves target at open houses and how to be prepared Safety tips to remember before and after showing a property
This free webinar will be offered on Tuesday, September 9, at 1:00 CENTRAL time. Register online at http://www.realtor.org/topics/realtor-safety/webinars?cid=SF-WN-095 Your Clients will thank you!
Be sure to register for our September Business Builder, “Self Defense for the Real Estate Professional,” on September 11, at 2:00 pm.
REALTOR® SAFETY TIPS
1
Always make sure someone knows where you’re going and who you plan to meet there — including the client’s name and phone number.
2
Always schedule first meetings with new clients in the office, verify their identity, and introduce them to a colleague.
3
Always keep a charged mobile phone with you, whether you’re in the office, on the road or at property showings.
For more valuable safety tips, visit www.REALTOR.org/Safety
Worcester Regional Association of REALTORS® 3 www.wrar.org
MAR NEWS 2014 MAR Conference & Tradeshow Sarah Gustafson, WRAR REALTOR® of the Year, is in the running for the State title at the MAR Conference on October 6 & 7,
2014, at the Sea Crest Beach Hotel in North Falmouth, MA. Come support her and network with other REALTORS® statewide. You can register at https://marealtorportal.ramcoams.net/Meetings/Registration/MeetingDetails.aspx?mid=f06d7e05-3c03-45da-a1e8-bc197ceb20b4
GRI 202 Building a Foundation Tuesday, October 21, 2014 (8:00 AM) to Wednesday, October 22, 2014 (5:30 PM) Graduate REALTOR® Two-Day Course When: October 21-22, 2014 Where: Greater Newburyport Association of REALTORS®, Newport, MA Instructors:Jeffery Chute and Gary Bourque Price: MAR Member: $250
Register at https://marealtorportal.ramcoams.net/Education/Registration/Details. aspx?cid=ee4a6e1b-322d-4088-abe2-9f485d3af1fa
Hold the Phone! Pinergy’s MOBILE SITE Has Been REDESIGNED With You in Mind! We’ve just put the final touches on the new, improved Pinergy Mobile Site. It’s easy to use, powerful, and works on any multi-touch, web-enabled smartphone. Now you’ll have access to many of Pinergy’s tools on the road, which is where the real transactions take place. And access is free for all MLS PIN customers. Just point your mobile device to mobile.mlspin.com (you can add a custom icon to your desktop to go directly there in the future). Search, sell, and connect with Pinergy Mobile!
• • • • •
Active, UAG and Sold Listing Searches Location-Based Searching Sortable Search Results Complete Listing Details Interactive Property Mapping
• • • •
Share Property Button Access to Contacts and Property Matches Public Records, Tax Rates & Hot Sheets Works on iOS, Android and Windows Phones
SEARCH SELL CONNECT
customer support evenings & weekends • 800-695-3000 •
www.mlspin.com
Pinergy
Add this icon to your phone’s home screen for one-click access!
Worcester Regional Association of REALTORS® 4 www.wrar.org
OUR 2014 VIP SPONSORS
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www.nextdoorlending.com Worcester Regional Association of REALTORS速 5 www.wrar.org
CLAIM YOUR .REALTOR DOMAIN NAME You know website addresses that end with the domain extension .com, most do. And you’ve probably seen others that end in .org, .edu and .gov. But, did you know that hundreds—if not thousands—of new domain extensions will exist soon? They can be for just about anything, including real estate, and are being reviewed by ICANN. That means that soon, many new domains will be approved, allowing consumers to search for the things on the Internet in an entirely new way. That’s why NAR secured the new .REALTOR domain: to clearly provide a trusted source for real estate information online and to bring order to this increasingly complicated online world. Like the term REALTOR®, only REALTORS® can use .REALTOR domains, making it the clearest way to show consumers you are a member of NAR, and you adhere to a higher standard of ethics and are a source they can trust.
Claim your .REALTOR domain as soon as it’s available to take advantage of the exclusive benefits it provides you as a member of the NATIONAL ASSOCIATION OF REALTORS®. Starting 10.23.2014, members will be able to go to www. claim.REALTOR for REALTOR domains. The first 500,000 NAR and 10,000 CREA members will be able to claim their first domain FREE for one year. For complete information and guidelines, visit http:// www.about.realtor.
Law Office of Harry P. Kotseas Harry P. Kotseas, Esq. * Sharon F. LaPointe, Esq. * Annelle E. Benson, Esq. Highland Title & Closings Real Estate Mortgage Law Purchases & Sales Mortgage Closings Short Sales
Title & Closings Preparation of Wills Business Formation & Transfers Settlement of Estates
94 Highland Street, Worcester, MA 01609 * Tel: (508) 753-5933 * Fax: (508) 755-1244 * contact@kotseas.com Worcester Regional Association of REALTORS® 6 www.wrar.org
OUR 2014 VIP SPONSORS
“My goal is to help you grow your business by being an extension of the top quality service you provide to your clients. Let’s grab coffee or a smoothie and I can show you how.” ~ John B. Saari - 508-740-7442
Helping more clients and more referral partners through products, education, and communication • Sierra is both a direct lender and a broker with 25 lenders to help you close more transactions • FHA, VA, & USDA lending below a 640 credit score • Access to Credit Union PMI rates • Higher debt to income ratios than traditional lenders • No PMI loans • In house underwriting • Jumbo lending
www.themortgagebuddy.com
John B. Saari * Sierra Pacific Mortgage Company * 508-740-7442 themortgagebuddy@gmail.com * www.themortgagebuddy.com Sierra Pacific Mortgage NMLS: 1788
Worcester Regional Association of REALTORS®
7
www.wrar.org
PROFESSIONAL DEVELOPMENT The WRAR Professional Development Committee is pleased to present:
2014 Office Leadership Breakfast Series Offered exclusively to Brokers & Office Managers
RISK
REDUCTION Date: Breakfast: Program:
September 8, 2014 8:30 am 9:00-11:00 am
You will be entered into a raffle EACH TIME you attend a session. On November 3, one lucky DR/OM will receive a PIZZA PARTY for their office!
We are excited to welcome back Attorney Bill Mullen who will discuss relevant issues such as:
William Mullen III
“As Is” Clauses and Other Disclaimers Presenting and Negotiating Multiple Offers Stigmatized Properties Lead Paint Wanting an Immediate Answer And any pressing issues you may have
Bill Mullen is the general counsel for the Greater Boston Association of REALTORS®. An attorney, real estate broker, and licensed real estate Don’t miss this excellent opportunity instructor, Mullen has served on the Mass. Association of REALTORS® legal conundrums answered! Board of Directors and is past president of the North Shore Association of REALTORS®.
to get your
This session is sponsored by our PLATINUM LEVEL VIP SPONSOR: ............................................................................. Register now - $15 each - Fax to 508-832-6620 or email to lwalls@wrar.org. Sept. 8_____($15)
Nov. 3_____($15)
Name:_________________________________________________________________________________________ Firm:_________________________________________________________________________________________ Billing Address:_________________________________________________________________________________ Credit Card/Expiration:___________________________________________________________________________ email:_______________________________________________ phone:____________________________________
Worcester Regional Association of REALTORS® 8 www.wrar.org
Business Builders
PROFESSIONAL DEVELOPMENT Business Builder Session 6:
SELF DEFENSE for the Real Estate Professional
A monthly educational series brought to you by the WRAR Professional Development Committee
r ilde s Bu o a s e usin red int aB e ! LET ttend e ente ear, on B A a b T y ! l u l T i A e o E h w y WIN time name nd of t a TABL h Eac , your t the e eceive s r clas ing. A r will e w dra y winn luck
Date: Time: Place:
Thursday, September 11, 2014 2:00-4:00 pm WRAR 492 Washington St. Auburn Price: FREE to WRAR Members Taught by Professor Glenn Savoy of Ninja Self Defense Edu. Consulting This program is part of a comprehensive effort to prevent sexual assault and other acts of interpersonal violence and boundary violations. It has been designed especially for REALTORS速 to increase agents' awareness and self defense skills, potentially saving him or her from harm. REALTORS速 are targets on the job because they are crimes of opportunity. Perpetrators target real estate professionals because they know they carry a phone, purse, or wallet, and are often alone. The nature of the job, showing vacant properties in isolated situations with strangers, further puts agents at risk. The past several years have been some of the most dangerous on record for real estate professionals
This event is sponsored by: Southbridge Savings Bank Charlton * Southbridge * Worcester .......................................................... Sign me up ! Return this form via fax to 508-832-6620 or email to lwalls@wrar.org. You may also enroll online at www.wrar.org Name ___________________________________________________________________________________ Address__________________________________________________________________________________ City/State/Zip_____________________________________________________________________________ Phone______________________________________ email_______________________________________
Worcester Regional Association of REALTORS速 9 www.wrar.org
PROFESSIONAL DEVELOPMENT
Lunch and Learn with Fairway Mortgage CEU Course (RE47R05) – Residential Mortgage Loan Market & Credit Today The Worcester Regional Association of REALTORS® 492 Washington St. Auburn, MA 01501 September 16th 2014 11:00 AM – 1:00 PM (Registration 10:30 AM) Lunch and refreshments will be served courtesy of Attorney Jessica Albino. Please remember parking is limited, try to carpool.
Finish your year strong! What to Expect:
Projection of interest rates from market analysts and the impact on your buyer’s loan programs and purchasing power o What factors will drive rates in the next 12 months How to submit strong offers with strong preapprovals Helping the millennial generation understand their student loan debt and housing options Gaining market share from the newest generation of home buyers o The fastest growing home owners market is Generation X and Y How to improve your client’s credit score and maximize their loan options Over 50 Mortgage and Credit Gotchas Cheat sheet for FHA, VA, Conventional, USDA and MA Housing Help sellers list now o Creating listing inventory o How to get buyers and sellers off the fence o The costs of waiting to sell or buy a house o Eliminating PMI for move up sellers and buyers with less than 20% down payment
Hosts: Bill Murphy of Fairway Independent Mortgage – CMP Jessica Albino of the Law Office of Jessica L. Albino Center for Real Estate Studies & Training Worcester Regional Association of REALTORS®
10 www.wrar.org
LEGISLATIVE BREAKFAST The Home Builders & Remodelers Association of Central Massachusetts and the Worcester Regional Association of REALTORS®
Present our Annual
Legislative Breakfast
State of Housing & Why it Matters Friday, September 19, 2014 8:00 am Registration; 8:30 am Program
Thank you to our sponsors: Fairway Mortgage New England Sierra Pacic Mortgage Southbridge Savings Bank United Bank
The College of the Holy Cross Hogan Center One College Street, Worcester, MA Members: $25 if registered by 9/9; $30 after 9/9 Non-Members: $35 Topics to be discussed:
Legislative Update from MAR & Builders Association Legal Counsel: Michael McDonough & Ben Ferrera Affordability Breakthrough: Creative Solutions to Make Housing More Affordable in MA Comments by Legislators Please join us for this important event! The health of the Home Building Industry is directly related to YOUR participation! Name:__________________________________________________________________________________________________________ Company:_______________________________________________________________________________________________________ Billing Address:___________________________________________________________________________________________________ City:________________________________________________________ State:________________ Zip:__________________________ email:_________________________________________________________ Phone:___________________________________________ ___Check
___Amex
___Discover ___Master Card
___Visa
Credit Card Number____________________________________________________________ Exp Date:_________________________
* To register online visit www.WRAR.org * To register by telephone call 508-832-6600 * Fax to 508-832-6620 * * To register by mail, return this form to WRAR, 492 Washington Street, Auburn, MA 01501 * Worcester Regional Association of REALTORS®
11 www.wrar.org
PROFESSIONAL DEVELOPMENT
Marketing Session hosted by the Central Region
REALTORS®
Commercial Alliance
DATE: PLACE:
September 24, 2014 Worcester Regional Assn. of REALTORS® 492 Washington Street, Auburn Time: 11:00 am - 5:00 pm Join us from 9:00-11:00 am for a FREE CEU Class - RE69C11: Commercial Brkg: The Lease Offer/ Basics of a Lease NO COST EVENT Luncheon included! Lunch & Special Guest Speaker: Ashley Stolba, MAR Associate Legal Counsel Legislative Update for Commercial Practitioners
Presented by Peter West Peter West has been a REALTOR® since 1984. He is licensed in MA, NY, VT, and FL. Peter has been awarded the prestigious SEC designation from the Society of Exchange Counselors. He also has the CCIM, ABR, and CRS designations. No stranger to the business, Peter has worked in residential, commercial, appraisal, land, new home sales and as a mortgage originator. Currently he focuses on commercial / investment and development for his own behalf or for clients on a nationwide basis.
Benefits from attending this marketing session: The Generation of Potential Transactions for Buyer & Seller Clients or YOURSELF! Possible Earned Commissions Networking with other Brokers / Investors from the local market, as well as Regional and National Players Creative transactions & solutions Find Investor Cash for you or your clients
Besides his real estate practice, he is the Vice President and partner of a modular building company, Modular Building Systems Inc.
Thank you to our Event Sponsor:
A former National Sales Trainer for Century 21 Real Estate Corp., Peter now trains real estate agents throughout all of North America. He is a frequent presenter of NAR’s buyer agency programs. In 2007, Peter was inducted into the Buyer Agent Hall of Fame.He is also a National Moderator for Commercial Equity marketing sessions. Peter is a popular and frequent presenter at state and national conventions. Locally Peter serves as the Vice-Chairman of the Adams, MA Zoning Board of Appreals. He is also a past two term Chairman of the Board of Directors for Berkshire Family and Individual Resources, an agency providing services for individuals with developmental disabilities.
TO REGISTER EMAIL OR CALL: Colleen Pappas 508-832-6600 * cpappas@rcama.org
Worcester Regional Association of REALTORS®
12 www.wrar.org
PROFESSIONAL DEVELOPMENT Presented by Preservation Worcester & The Crown Hill Neighborhood Assn.
Local Historic Districts: What Realtors® & Property Owners Must Know An informative presentation on historic districts and historic properties A tour of the Crown Hill Historic District with a visit to neighborhood gardens Wine and cheese reception afterward in a restored historic home
Thursday, September 25 3:00 - 5:oo pm All Saints Church, 10 Irving Street, WOrcester Beginning with a presentation by Stephen S. Rolle, Director, City of Worcester Department of Planning and Regulatory Services, this lively afternoon program provides Realtors with what they need to know when selling a historic property in Worcester. Information presented will help you to answer your clients’ questions about City of Worcester-designated historic districts and about properties affected by the City’s demolition delay ordinance.
Reservations required. Call Preservation Worcester at 508-754-8760
Worcester Regional Association of REALTORS®
13 www.wrar.org
PROFESSIONAL DEVELOPMENT
Worcester Regional Association of REALTORS速
14 www.wrar.org
PROFESSIONAL DEVELOPMENT
YPN
Young Professionals’ Network
Professional Development & Networking Opportunities for today’s REALTOR®
By Popular Demand - an Encore Presentation PLUS MORE!
Appraisals & Assessments What We Do - and Why Laws Tax rates Assessors cycle DOR role in it all Why we measure the way we do and why we classify stories that way Inspections – Building Dept. and Assessor’s roles – and why we go to open houses and/or smoke alarm inspections Q+A Featuring Assessors from the following Cities & Towns: William Mitchell - Leominster; Cindy Cosgrove – Auburn; Christopher Reidy – Shrewsbury; Assistant Building Inspector – Lou Pepi – Shrewsbury Date: Registration: Program: Place: Cost:
Wednesday, October 1, 2014 9:30 am 10:00 am - 12:00 pm WRAR 492 Washington Street Auburn, MA FREE to WRAR members
Breakfast sponsored by Kwame Bonsu – Bank of America Deb Jordan – Shamrock Financial
Fax this form to 508-832-6620 or email to lsprague@wrar or call Lisa Sprague at 508-832-6600 Name:________________________________________________________________________________________ Company:_____________________________________________________________________________________ email:________________________________________________________________________________________ Worcester Regional Association of REALTORS®
15 www.wrar.org
PROFESSIONAL DEVELOPMENT
Securing Your Retirement Transforming Social Security into a winning retirement strategy By Nick Weiss, VP, BlackRock Financial
Get ANSWERS to these Social Security questions: • When am I eligible to receive benefits? • Can I receive SSI if I am still working? • How much money will I receive? • Can I collect SSI while I receive a pension? • Should I collect at age 62 or full retirement age?
Presented by: Compass Consulting Group & Jackson National Lunch & Learn: October 3, 2014 11:30 am to 1:30 pm Grill on the Hill (Green Hill Golf Course) RSVP: Gretchen gretchen@compassconsultinggrp.com
Thomas M. Valentine Jr. President/Financial Advisor 645 Chandler Street • Worcester, MA 01602 • 508-796-5950 Email: tom@compassconsultinggrp.com • Web: www.compassconsultinggrp.com *Registered Representative, Securities offered through Cambridge Investment Research, Inc. A Broker/Dealer, Member FINRA/SIPC. Compass Consulting Group and Cambridge are not affiliated.
Worcester Regional Association of REALTORS®
16 www.wrar.org
PROFESSIONAL DEVELOPMENT Set yourself apart from your compe��on with a
CBR Designa�on! ENT M Y PAPLAN LE! LAB I A AV
Dates: Wednesday & Thursday, October 29 & 30, 2014 Time: 9:00 am - 4:00 pm each day Place: Worcester Regional Assn. of REALTORS® 492 Washington Street, Auburn Cost: $299 - Payment plan available! Pay $100 on 9/2, 10/2 and 11/2 WHY SHOULD YOU EARN YOUR CBR? •
Learn the BEST PRACTICES for Buyer Agency and the SKILLS to guide your buyers through the purchase process and get them to the closing table.
•
Develop the skills and techniques to ATTRACT MORE BUYERS to your business
•
EARN MORE MONEY! You will learn to change the way you’ll look at buyers. It will change the way buyers look at you too!
•
Turn your “just looking” customers into Clients making offers.
•
Receive 4 CEU’s
•
Affordable Rates as well as a PAYMENT PLAN! Call Colleen Pappas at 508-832-6600 for more info
About Roger
Roger Turco�e is a highly sought-a�er na�onal speaker in the realm of real estate educa�on. Roger’s experience as a real estate agent and manager helped him create solu�on-based seminars that empower real estate managers and agents to sharpen their compe��ve edge. An ease with teaching and an engaging sense of humor enable Roger to provide seminars that are informa�ve, enjoyable, and, ul�mately, protable. Roger has earned a reputa�on as a consummate real estate educator, with recogni�on by seminar students, agency owners, and REALTOR® associa�ons throughout the United States.
CBR DESIGNATION ADVANTAGES
Register online at www.wrar.org or return this form via fax to 508-832-6620.
•
NO YEARLY RENEWAL FEES!
Name:___________________________________________________________________
•
NO WAITING - Take the class & leave with your Designa�on!
email:___________________________________________________________________
•
Billing Address____________________________________________________________
NO SALES REQUIREMENTS to qualify!
•
NO FINAL EXAM!
________________________________________________________________________
•
Get a FREE web site pos�ng
•
FREE CBR Logos, promo�onal material, and membership in the Na�onal Cer�ed Buyer Representa�ve discussion group on LinkedIn.com too.
Credit Card:______________________________________________________________ Expira�on:_______________________________________________________________ ☐ Sign me up for the payment plan! Credit card will be auto-billed on 9/2, 10/2 & 11/2.
Worcester Regional Association of REALTORS®
17 www.wrar.org
MEMBERSHIP NEWS New Applicants
Agent Transfers to New Office
David Brossi Erin Brown Deanna Brunt Jamie Bundtzen Cara Casamasima Laurie Fitzpatrick Elizabeth Flodstrom Spencer Fortwengler Sharon Garcia Joy Garvey Stephen Gaudet Alan Gelineau Martha Gibson Michelle Hjort Doreen Lefort Susan Lucey Robert McKinstry Linnea Miley Carole Monast Bonnie Narcisi Edna Ortiz Jay Ostrosky Gary Powell John Procopiou John Procopiou Diana Riggieri Beverly Rogers Lorenzina Savage Richard Shaftenaar Patricia Soucy Nina Souza Rosalind Stearns Pamela Therrien James Thomas Charles Valera Robert Wallace
Laurie BabbittStrapponi Susan Beaudet Candice Bettencourt Laurie Casavant Ben Demeo Bob Falter Joseph Hunt Karen Manring Maura O’Connor Karen Richardson Karen Richardson Ranushma Santram Doreen Smith Erika Sullivan Susan Taft Jason Tominsky
Brossi Realty, Inc. Lexington DCU Realty Marlboro Afonso Real Estate Milford Brossi Realty, Inc. Lexington Open Door Real Estate Sterling Coldwell Banker Shrewsbury Century 21 Commonwealth Milford Exit Reatly Partners Worcester RE/MAX Advantage1 Worcester Century 21 Commonwealth Milford RE/MAX Professional Assoc. Auburn ERA Key Realty Services Auburn Mendon Area Real Estate Mendon Coldwell Banker Worcester Brossi Realty, Inc. Lexington Andrew Abu REALTORS Westboro Keller Williams Realty- Worcester Quinsigamond Realty Worcester Prudential Parent Assoc. Worcester Prudential Prime Properties Whitinsville Keller Williams Realty Worcester Collins & Demac RE Shrewsbury Keller Williams Realty Worcester Gold Triangle Inc. Shrewsbury Gold Triangle Inc. Worcester Coldwell Banker Shrewsbury Fine Properties, Inc. Shrewsbury ERA Key Realty Services Auburn Keller Williams Realty Worcester Robert B. Love Co. Inc Paxton DCU Realty Marlboro Afonso Real Estate Milford Orbit Realty Webster RE/MAX Professional Assoc. Shrewsbury LAER Realty Partners Groton Mendon Area Real Estate Mendon
New Offices Fatima Afonso
Afonso Real Estate 189 Main Street, Milford
James Haynes
Artisan Senior Renovations 11 Pine Valley Drive, Auburn
David Brossi
Brossi Realty, Inc. 971 Concord Street, Framingham
Majeed Sharif
DMG Residential 61 Chapel Street, Newton
Real Living Barbera Assoc Worcester RE/MAX Best Choice Framingham Exit Realty Partners Worcester Orbit Realty Webster Afonso Real Estate Milford RE/MAX Advantage RE Worcester RE/MAX Professional Assoc. Shrewsbury ERA Key Realty Services Auburn Exit Realty Partners Worcester LAER Realty Partners Northboro LAER Realty Partners Northboro ERA Key Realty Services Worcester Afonso Real Estate Milford RE/MAX Professional Assoc. Auburn Afonso Real Estate Milford Afonso Real Estate Milford
New Affiliates Rich Power
Commonwealth Environmental Services Chandler Street, Worcester
Pat Tauro
Contour Mortgage Bankers 4 Canal Park, Suite 112, Cambridge
George Bosnakis
Drew Mortgage Associates Inc. 196 Boston Turnpike, Shrewsbury
Wayne Rawan
Drew Mortgage Associates Inc. 196 Boston Turnpike, Shrewsbury
Trevor McFarland
Residential Mortgage Services 324 Grove Street, Worcester
Helia Mongiat
Radius Financial Group, Inc. 600 Longwater Drive Suite 107, Norwell
Board Transfers Galen Keller Amulya Mahal Mark Minnucci Gary Sobel
Realty Direct Metrowest Westboro RE/MAX Professional Assoc. Shrewsbury RE/MAX Professional Assoc. Sturbridge Keller Williams Realty Westboro
Patrick O’Donnell Realty Direct Metrowest 6 West Main Street, Westboro
Worcester Regional Association of REALTORS®
18 www.wrar.org
2015 DUES BUDGET PLAN - ENROLL BY SEPT. 30!
2015 Dues Budget Plan Option for REALTOR® Members Under the 2015 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 2015 plan: (includes a $10.00 service fee per payment) $ 83.00 REALTOR®
1ST INSTALLMENT October 1, 2014
$108.00 Designated REALTOR®
$ 83.00 REALTOR®
2ND INSTALLMENT November 1, 2014
$108.00 Designated REALTOR®
$ 83.00 REALTOR®
3RD INSTALLMENT December 1, 2014
$108.00 Designated REALTOR®
$ 83.00 REALTOR®
4TH NSTALLMENT January 2, 2014
$108.00 Designated REALTOR®
$151.00 REALTOR®
5TH INSTALLMENT February 1, 2015
$151.00 Designated REALTOR®
$155.00 REALTOR®
6TH INSTALLMENT March 1, 2015
$155.00 Designated REALTOR®
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 2015 RPAC goal by donating. If you contribute, this one time payment of $20.00 will be assessed to your credit card on October 1, 2014 in addition to the above amount. I hereby enroll in the 2015 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 $20.00 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#
__________‐ ___________‐___________‐___________
Exp. Date: _____________
Signature _____________________________________________ 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®
19 www.wrar.org
MEMBERSHIP NEWS Scholarshp Raffle
Our Young Professionals Networking Group is holding another raffle in support of the WRAR Scholarship Fund. As most of you know, the Scholarship Fund exists to help children and grandchildren of REALTORS速 and Affiliate members to help further their education. Scholarships are awarded each spring. In 2014, we gave $4,000 ($1,000 each) to children of WRAR members. To build up our 2015 Scholarship Funds, we will be selling raffle tickets for $25 each. The winner will receive the use of a cottage in Ogunquit, ME, for the week of June 13th through June 20th, 2015. This holds a $1,300 value. For more information and pictures, visit http://www.homeaway.com/vacation-rental/p365187.
Thank you to Brian Larson of Fairway Mortgage, Boston, for the generous donation of the cottage. To purchase a ticket, call Lisa Sprague, Membership Manager, at 508-832-6600, ext. 230, or email Lisa at lsprague@wrar.org.
NAR Conference & Expo - November 7-10, 2014, New Orleans
Worcester Regional Association of REALTORS速
20 www.wrar.org
SUMMER OUTING HOSTED BY THE YOUNG PROFESSIONALS NETWORK An overcast sky didn’t stop the fun at the REALTOR® Family Fun Day at Green Hill Park on August 15. Hotdogs & Hamburgers were supplied by sponsors, Wendy Burdett of Prospect Mortgage, Deb Jordan of Shamrock Financial Corp., Wes Oliver of Prestige Home Mortgage and Attorney Jess Albino from the Law Office of Jessica Albino. Kathryn Weldon of Fidelty Bank supplied prizes for the kids. Food, fun and games were the topics of the day!
Worcester Regional Association of REALTORS®
21 www.wrar.org
CENTER FOR REAL ESTATE STUDIES & TRAINING Upcoming CEU Courses for September 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 $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.
Auburn, Friday, September 12 Time
Instructor
Course Code
Course Title
8:00 - 10:00
Brad Roberts
RE36R05
Conducting Open Houses & Developing a Safety Plan
10:00 - 12:00
Brad Roberts
RE34RC03
National Economic Trends & the Real Estate Professional
12:00 - 2:00
Brad Roberts
RE73R11
Veterans Administration (VA) Loans
8:00 - 10:00
Gary Bourque
RE26RC07
Appraisal Process
10:00 - 12:00
Gary Bourque
RE84RC13
Escrow/Escrow Agents/Escrow Accounts in Real Estate
12:00 - 2:00
Gary Bourque
RE51R06
Facilitator
Auburn, Tuesday, September 23
MAR to Offer FREE Zipform Training Date: Friday, September 5, 2014 Session 1: 1:00 - 2:00 pm Session 2: 3:00 - 4:00 pm Place: WRAR, 492 Washington St., Auburn Cost: FREE for WRAR Members & Families To O’CONNELL register visit the MAR at https://www.marealtor.com/events/calendar/2014/09/05/default-calendar/ & website O’CONNELL , P.C. worcester-regional-association-of-realtors-free-zipform-training ATTORNEYS AT LAW www.philipoconnell.com
Join the ZipFormPlus instructor PHILIP D. O ,CONNELL, JR.for a basic training that will help members get started with the ZipFormPlus, the new free forms. The zipForm®Plus program offers many new form filling features, faster file management, and ALICIA M. O’CONNELL 425 PAKACHOAG STREETThis training will introduce you to some of the new features you professional personalization tools for all agents. AUBURN, MA 01501 will be able to access through zipForm®Plus, and provide you with the basic steps for opening zipForm®Plus and TELEPHONE (508) 832-5872 creating a transaction files. FAX (508) 832-7167 phil@philipoconnell.com
alicia@philipoconnell.com
O’CONNELL & O’CONNELL , P.C. ATTORNEYS AT LAW www.philipoconnell.com
PHILIP D. O ,CONNELL, JR. ALICIA M. O’CONNELL 425 PAKACHOAG STREET AUBURN, MA 01501 phil@philipoconnell.com
TELEPHONE (508) 832-5872 FAX (508) 832-7167 alicia@philipoconnell.com
Worcester Regional Association of REALTORS®
Representing Buyers, Sellers & Mortgage Lenders
There are two training sessions available. Only 40 students per session.
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David R. Rocheford, Jr., P.C. Save time and money on your next real estate closing. Call us for the best closings, GUARANTEED! 978-728-5104 www.TheBestClosings.com
22 www.wrar.org
COMMITTEE ON GOVERNMENT & LEGISLATIVE AFFAIRS Your RPAC investment comes back to Worcester: Government Affairs Committee Receives Two Grants from NAR Your Government Affairs Committee successfully applied for two grants from NAR to promote REALTOR® awareness and home ownership. We are excited to share the details and hope that you will help the committee by supporting these two endeavors as well as letting us know of future sites and projects that may benefit from these grants.
housing issues. The Committee is working with the City of Worcester to promote their Buy Worcester Now Program.
Go Green and Be Seen!
The first grant in the amount of $2500 is a Placemaking Grant and is a way to make 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 committee is using the grant money to help revitalize an existing monument in the Greendale section of West Boylston St., Worcester. The monument is a beautiful silk black granite eagle originally envisioned in 1948 by George N. Jeppson, a Norton Company official. He helped to organize a committee of local businesses to donate toward a memorial for all veterans. Community subscriptions were also successful and Jeppson contacted Carl Miles, an American citizen of Swedish birth to create the memorial.
With time and neglect, the eagle is in need of a facelift and the REALTORS® in Worcester will be restoring the area with landscaping, benches, flowers and a plaque commemorating the monument. “REALTORS® live, work and volunteer in their communities and take immense pride in working to improve these neighborhoods”, said REALTOR® member and City Councilman Tony Economou. We will be having a beautify day on September 18 so please contact the Association to volunteer. In addition to this grant, we were also successful in receiving a $3,000 Housing Opportunity Grant to develop innovative approaches to address a range of affordable and workforce Worcester Regional Association of REALTORS®
Shrewsbury Street-Worcester, MA Near Rotary –Carmel St Apts Bus Stop
Some of Worcester’s neighborhoods have been hit inordiCopyright © 2013 Go Green Solutions, Inc. All Rights Reserved. No part of this presentation may be reproduced in any form by any nately hard with foreclosures and the path to recovery is chalelectronic or mechanical means (including photocopying, recording, or information storage and retrieval) without permission in writing from Go Green Solutions, Inc. except for reading. lenged. Buy Worcester Now provides significant incentives and economic assistance to a targeted lower income, first time home buying population that is presently underserved. The campaign being proposed will be used to promote, educate and inform the local REALTOR® and Real Estate professionals, whom we believe have the most ability to influence attention to certain areas of Worcester. WRAR is proposing an exciting communication campaign that will include outdoor signage, postcards & text communications. A Go Green initiative will be used to display the Buy Worcester Now icon and logo, in two strategic outdoor locations in Worcester, which will serve to draw attention to the existence of the program and directions as to how to get more information. The signage will also include a QR code, a QR code is a printed, embedded “extra information provider” that will allow any mobile phone user to scan the image on the signage and the user will be brought to a landing page that has “Buy Worcester Now” everything, including the ability to register for additional communication and information as well as a link to the promotional and educational video that will be produced by the City of Worcester. The Committee plans to have informational sessions throughout the fall to help educate the members on the wide array of assistance the City has to offer. The first will be held on Monday, September 29, at 1:00 pm at WRAR Auburn headquarters. Contact WRAR to register. 23 www.wrar.org
LOCAL MARKET UPDATE Local Market Update – July 2014 A RESEARCH TOOL PROVIDED BY THE MASSACHUSETTS ASSOCIATION OF REALTORS®
Worcester Regional Association of REALTORS®
- 8.8%
- 3.3%
- 6.1%
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
July
Single-Family Properties
2013 531 602 $273,750 2,723 6.3 81 95.4% 707
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
Year to Date
2014 559 553 $265,000 2,582 5.8 89 95.5% 850
+/– + 5.3% - 8.1% - 3.2% - 5.2% - 7.5% + 9.9% + 0.2% + 20.2%
2013 3,530 3,038 $244,250 --119 93.6% 5,338
+/– 0.0% - 9.6% - 11.4% - 11.9% - 18.8% - 22.4% - 0.7% + 2.5%
2013 799 713 $192,000 --124 95.4% 1,162
July
Condominium Properties
2013 129 136 $220,000 553 5.5 105 96.6% 158
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
2014 3,404 2,876 $255,000 --112 94.6% 5,588
+/– - 3.6% - 5.3% + 4.4% --- 5.6% + 1.0% + 4.7%
Year to Date
2014 129 123 $194,900 487 4.5 81 95.9% 162
2014 834 736 $202,625 --97 96.0% 1,201
+/– + 4.4% + 3.2% + 5.5% --- 21.4% + 0.7% + 3.4%
* 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 Worcester Regional Association of REALTORS® $350,000
All MLS Worcester Regional Association of REALTORS®
b a
$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
$100,000 1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
All data from the Berkshire County Multiple Listing Service Service, Cape Cod & Islands Association of REALTORS® REALTORS®, Inc Inc. and MLS Property Information Network Network, Inc Inc. | Provided by MAR MAR. | Powered by 10K Research and Marketing Marketing.
Worcester Regional Association of REALTORS®
24 www.wrar.org
MAR LEGAL HOTLINE Michael McDonagh, MAR General Counsel Ashley Stolba, MAR Associate Counsel Justin Davidson, MAR Staff Attorney
Q: I received a referral from an agent in another part of the state to work with a buyer. I checked with the Division of Professional Licensure to be sure that she was licensed. Come to find out, she is an inactive salesperson. I thought that I could only pay referral fees to active brokers and salespersons. Also, because she is a salesperson and not a broker, I thought license law prohibited me from paying her directly. A. You may pay the referral fee directly to the agent. Massachusetts General Law Chapter 112, Section 87XX ½ created an “inactive” license status for those who did not complete their continuing education requirements while also permitting inactive salespersons to receive referral fees. It states that an inactive salesperson may “assist with or direct the procuring of prospects and may receive referral fees for such procurement activities.” Aside from collecting a referral fee, the statute prohibits inactive licensees from engaging in the business of or acting as real estate brokers or licensees. You are correct that salespersons with an active license can only receive compensation from the broker with whom they are affiliated. Inactive licensees, however, are precluded from affiliating with a broker due to their inactive status; so this is the only instance where a salesperson can receive a referral fee directly. To determine a licensee’s status, visit: http://www. mass.gov/ocabr/licensee/dpl-boards/re/ Q. As a listing broker, am I required to fill out a 1099 when I pay a cooperating broker a commission or referral fee? A. The Internal Revenue Service (“IRS”) requires listing brokers who pay “nonemployee compensation” of $600 or more to an individual who is not an employee to complete Box 7- Nonemployee Compensation on Form 1099-MISC, give Copy B of the form to the individual who received the compensation, and file Copy A with the IRS. “Nonemployee comWorcester Regional Association of REALTORS®
pensation” includes fees, commissions, prizes, and awards. To access the 1099-MISC Form, with accompanying instructions, please visit: http:// w w w. i r s . g ov / p u b / i r s - p d f / i1099msc.pdf. Q. What if the escrow agent disburses the cooperating agent’s fee at the closing? Does the Listing Broker still need to fill out a 1099? A. Most likely, yes. The fact that the cooperating commission is being paid directly by the escrow agent does not negate the requirement to complete at 1099. The funds constituting the cooperative commission are drawn from the listing broker’s portion of the commission and so the payment is technically made by the listing broker. Q. The IRS requirement only seems to apply when listing brokers pay cooperating commissions to individuals. What if the listing broker pays a brokerage that is a corporation? A. This requirement only applies to payments made to individuals, and does not apply when the payments are made to corporations. It is recommended, however, that the taxpayer make it part of their risk management policy to obtain the W-9 from all cooperating brokers in order to demonstrate that it verified the corporate status of the cooperative broker. If the cooperating broker refuses to return the W-9, the taxpayer can still verify the corporate status of the cooperating broker by checking the secretary of state’s website: http://www.sec. state.ma.us/ DISCLAIMER: The information above is provided as a general overview, and is not meant to provide specific legal advice. The MAR legal department advises all REALTORSâ to consult an accountant or tax attorney regarding potential tax consequences of paying and receiving cooperating commissions. 25 www.wrar.org
2014 BOARD OF DIRECTORS
President, Dave Stead Pres. Elect, Brad Roberts Vice President, Kris Koliss Secretary, Sarah Gustafson Treasurer, Conrad Allen Past President, Rochelle Jonswold
COMMUNITY ACTION COMMITTEE On August 18 & 19, CAC Committee members and volunteers took part in the “Packing of the Backpacks” for the CAC’s annual drive. We hit a record 402 bags STUFFED with supplies - with some extra supplies left over given to area schools!! THANK YOU SO MUCH TO THOSE WHO DONATED AND GAVE THEIR TIME FOR THE LONG PACKING PROCESS - and extra thanks to Community Action Committee Chair Karen Richardson for her tireless work getting everything organized!
Kathleen Cooper, Director Jayne DiLiberto, Director Tracey Fiorelli, Director Erika Hall, Director Lorraine Herbert, Director Lee Joseph, Director Judy Patterson, Director Mary Stolarczyk, Director Leslie Storrs, Director Diane Dabrowski, Alternate Kathleen McSweeney, Alternate WRAR STAFF Executive VP, Colleen Pappas Membership Manager, Lisa Sprague Marketing Manager, Jacki D’Innocenzo Staff Accountant, Maura O’Connor Administrative Assistant, Lynne Walls
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 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. Worcester Regional Association of REALTORS®
26 www.wrar.org