September 2015 Inside this Issue: PRESIDENT’S MESSAGE President’s Message
1
Month-at-a-Glance
2
Latest News
3
Membershp News
4-7
Realtor Safety
8-12
Classes & Events
13-22
CREST
23
Gov’t Affairs
24-25
YPN
26
Local Market Update
27
Legal Hotline
28
Community Action
29
Hello Everyone – On behalf of the entire Association I hope your summer was productive with a smattering of personal time and fun in the sun!! We have many important things coming up which include:
• September 18 - Legislative Breakfast • September 24 - MAR Directors Meeting with a scheduled vote to restructure the MAR governing body. (You can read more about it here: https://www.marealtor.com/members/governance-restructure
• October 28 - Annual Meeting with Dr. Lawrence Yun, Chief Economist for the National Association of Realtors® (Dr. Yun is a fantastic speaker and seating is limited so early registration is a must!)
WRAR Mission Statement The purpose of the Worcester Regional Association of REALTORS® is to:
Finally, we have petitioned the National Association of Realtors® to endorse a proposed name change from our existing Worcester Regional Association of Realtors® to the Central Massachusetts Association of Realtors®. This petition was the result of a series of discussions with many of our members who feel that the use of the City of Worcester name in our association moniker could tend to affect their businesses for those not located in Worcester or towns contiguous. We have met with some opposition, to which we will respond. The purpose of the decision was to provide the best possible service to our members and ensure that we represent them to the best of our ability. Any members interested in reviewing the petition please contact the Board and copies can be arranged.
* Provide REALTOR® members with the resources that enable them to serve the public in an ethical and professional manner
As I write this Tom Brady and Roger Goodell remain at loggerheads, school is back in session and Kanye West will be a presidential contender in 2020! God Bless America!!
* Take an active role regarding issues affecting sellers, buyers, tenants and landlords.
Brad Brad Roberts 2015 WRAR President
Worcester Regional Association of REALTORS® 1 www.wrar.org
WRAR MONTH-AT-A-GLANCE September 2015 Sunday
Monday
Tuesday
Wednesday
Thursday
Friday
1 9 Govt Affairs Comm 1 DR Task Force
2 8-2 CEUs at CREST
3 10 Prof Dev Comm
4
10 11 12-1:30 Business 9:30-3:30 MLS Builder PIN Training
Saturday 5
6
7 WRAR Closed
8 5:30-7:30 CFPB & Effect on RE Closings
9 9:30 Finance 10:30 BOD 12 Commitee Chairs Mtg
13
14 8:30 DR Breakfast 5:30-9:30 Prelicense Class
15 9-4 NAR Power Negotiator’s Playbook
16 17 8:30-3 New Mem- RCAMA CEU & ber Orientation Marketing Session
18 11-1 Lunch & Learn w/Fairway Mortgage
19 8-12 Pre-license Class
20
21 9:30-3:30 MLS PIN Training 5:30-9:30 Prelicense Class
22 8-2 CEUs at CREST
23 12-3 Realtor Safety Class
25 11-1 CFPB & Effect on RE Closings
26 8-12 Pre-license Class
27
28 9-5 SRS Designation 5:30-9:30 Prelicense Class
29 9-5 SRS Designation
30 9:30-11:30 Lunch & Learn w/ Prospect Mortgage
24 12-2 Lunch & Learn with Davieau Law
12 8-12 Pre-license Class
Save the Date Oct. 23, 2015
WRAR & NCMAR YPN Halloween Party
DATE CHANGE! Oct. 28, 2015
Annual Meeting at Worcester Technical High School with NAR Economist Lawrence Yun
Dec. 3, 2015
Installation of Officers & Directors Dinner at the Beechwood Hotel
What’s Your No. 1 Business Rule?? Your Pet Peeve in Business? Do’s & Don’ts that you Live by? We’ll cover these and other topics monthly. Please watch your email next week for all the details. This will be a fun -- and highly informative -- project. We can all learn from each other and share a few laughs along the way!
Worcester Regional Association of REALTORS® 2 www.wrar.org
HERE’S HOW TO WIN $100 OFF YOUR 2016 DUES! WRAR App You receive one entry for each step you complete. Additionally, this contest has been posted on our facebook page. SHARE IT, and get another entry!
Step 1: BY SEPT. 14: DOWNLOAD our new WRAR App, which is available both on iphones and androids, at the Apple Store or the Google Play store and search for “WRAR.” *On September 15, you will receive a push notification. CLICK THE LINK FOLLOW THE DIRECTIONS IN THE MESSAGE TO BE ENTERED IN THE DRAWING! (Note, if you have an android phone, you will need to open the app manually; an iphone will receive a pop up notification.) STEP 2: LIKE us on facebook https://www.facebook.com/WorcesterRegionalAssociationofREALTORS THE WINNER WILL BE DRAWN ON SEPTEMBER 16 - ENTER NOW!
OFFICE SPACE FOR LEASE
FOR LEASE Professional Office Space 2,200+ sq. ft. • High visibility on Rte 20, Auburn, MA • Minutes to all major routes • Private Offices with Flexible Floor Plan • Conference Room • Ample Parking • Minimum one year lease • Contact 508-832-6600 for details
Do you know someone? Give us a call!
Worcester Regional Association of REALTORS® 492 Washington Street, Auburn, MA 01501
Worcester Regional Association of REALTORS® 3 www.wrar.org
MEMBERSHIP NEWS
2016 Dues Incentives Get a head start on 2016 by taking advantage of one our great dues incentives! Your dues include: National Association of REALTORS®: NAR Image Campaign: Mass. Association of REALTORS®: WRAR REALTOR®: WRAR Designated REALTOR®:
$120.00 $ 35.00 $151.00* $280.00 $380.00
* Pay your entire dues in October and be entered into a drawing to win back your ENTIRE 2016 dues - over $580 in savings! Deadline for drawing is 10/30/15. (REALTOR® members only.) * Pay your entire dues in November and be entered into a drawing to win back your LOCAL dues! (October entries are eligible once again in November). Deadline for drawing is 11/30/15. (REALTOR® members only.) *2016 MAR dues to be released in September; this figure is subject to change.
DEADLINE FOR DUES IS DECEMBER 31, 2015 TO AVOID LATE FEES NEED SOME EXTRA TIME? Enroll in our 2016 BUDGET PLAN by September 30, 2015. Reminder: If you do not sign up for the installment plan, your entire 2016 dues payment MUST be received by December 31, 2015 to avoid additional fees. You MUST RE-SIGN for the budget plan each year, even if you were on it the prior year. Late fees go into effect on January 1, 2016 -- there are no exceptions!
2016 DUES MAY BE PAID ONLINE AS OF OCTOBER 1, 2015. 2016 dues invoices will be emailed to all members on October 1. They will NOT be mailed via US Post office. Worcester Regional Association of REALTORS® 4 www.wrar.org
MEMBERSHIP NEWS - Dues Budget Plan Option
2016 Dues Budget Plan Option for REALTOR® Members Under the 2016 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 2016 plan: (includes a $10.00 service fee per payment) $ 85.00 REALTOR®
1ST INSTALLMENT October 1, 2015
$110.00 Designated REALTOR®
$ 85.00 REALTOR®
2ND INSTALLMENT November 1, 2015
$110.00 Designated REALTOR®
$ 85.00 REALTOR®
3RD INSTALLMENT December 1, 2015
$110.00 Designated REALTOR®
$ 85.00 REALTOR®
4TH INSTALLMENT January 2, 2016
$110.00 Designated REALTOR®
$151.00 REALTOR® **
5TH INSTALLMENT February 1, 2016
$151.00** Designated REALTOR®
$155.00.00 REALTOR®
6TH INSTALLMENT March 1, 2016
$155.00 Designated REALTOR®
**2016 MAR dues will be released in September so amount is subject to change. Please check here if you would like to contribute your Voluntary Fair Share Amount of $25.00 to RPAC. The budget amounts above do not reflect your contribution. We hope that you will help us reach our 2016 RPAC goal by donating. If you contribute, this one time payment of $25.00 will be assessed to your credit card on October 1 in addition to the above amount. I hereby enroll in the 2016 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. We accept MasterCard, Visa, American Express and Discover.
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 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. Payment Information Name on Card: _____________________________________________ Billing Address: _____________________________________________ Card#
__________‐ ___________‐___________‐___________
Exp. Date: _____________
Signature _____________________________________________
Worcester Regional Association of REALTORS® 5 www.wrar.org
MEMBERSHIP NEWS Congratulations!
Our sincere congratulations go out to Erika Hall of Keller Williams Worcester, who was honored with the Worcester Business Journal’s “40 Under 40” title. The award joins Erika with the best and brightest business leaders under 40 in Central Massachusetts. Winners are chosen based on the speed of their career path (how fast has the individual risen; how unusual is their ascendency); their commitment to the community (does the individual volunteer and in what capacity) and outside recognition (has the individual been recognized by any industry or community groups). The winners will be celebrated at the Awards Reception on September 16 at Mechanics Hall. We are proud and honored to have you represent the best in the REALTOR® community. Congratulations on this well deserved honor!
City of Worcester Receives $3.7 Million for Lead Reduction and Healthy Homes Worcester, MA--The City of Worcester has been awarded a HUD Grant in the amount of $3,714,272 including $3,389,272 in Lead Hazard Reduction Demonstration (LHRD) grant program funding and an additional $325,000 in Healthy Homes initiative funding for citywide use for qualified property owners. This award represents the only award in Massachusetts (LHRD) and is equal to the award amount the City of New York received. The City will address lead hazards in 200 housing units providing safer homes for low and very low-income families with children. The City will also perform healthy homes interventions in 58 units. The City will collaborate with a diverse set of local partners to accomplish this work, including UMass Memorial Children’s Medical Center, Southeast Asian Coalition and the Edward M. Kennedy Community Health Center. In coordination with our community partners, including the Prevention and Wellness Trust Fund, the city will provide a united message to our residents regarding the health conditions caused by our housing stock including lead poisoning and asthma. The $325,000 Healthy Home Intervention supplemental unit funding will be based upon conducting Healthy Homes Rating System analysis in the 29 housing hazards identified in the Healthy Home Rating System. The proposed uses include but are not limited to: Damp & Mold Growth, Radiation, Falls on Level Surface and Stairs, Domestic Hygiene, Personal Hygiene, Sanitation and Drainage, Electrical Hazards, and Building Code Issues. “This funding, combined with additional local, state, and federal resources, will strengthen the foundation of existing efforts and will lead to a sustainable, community wide effort to combat the effects of childhood lead poisoning and home health conditions and help provide the city’s children a safe place to call home” said City Manager Edward M. Augustus, Jr. Worcester is home to 12,005 children under the age of 6 comprising 5.9% of the city’s total population. 33.9% of the Worcester population speaks a language other than English at home and an estimated 4,982 families with young children under 5 year’s old report having incomes below the federal poverty level. Approximately 5-10 Worcester children become lead poisoned each year. Worcester has 32,345 units of housing built before 1940 making it one of the nation’s oldest housing stock. Since 2007, the city has been awarded $11,408,310 in Lead Paint Abatement and Healthy Home grants resulting close to 1000 units of housing being treated for lead. For any questions on the Grant Program, contact James Brooks, Healthy Homes Program Manager, Executive Office of Economic Development-, City of Worcester, P: 508.799.1400 x229; email: brooksj@worcesterma.gov. Worcester Regional Association of REALTORS® 6 www.wrar.org
MEMBERSHIP NEWS New Applicants
Zachary Aicardi Mendon Area Real Estate Mendon Mary Ann Bassignani ERA Key Realty Services Spencer Arthur Berry RE/MAX Professional Auburn Shana Besaw RE/MAX Professional Spencer Joseph Beshai ERA Key Realty Services Worcester Karen Butland Keller Williams Realty Worcester Dianne Cariglia Thrive Real Estate Shrewsbury Susan Cone Exit Beacon Pointe Realty Northboro Laura Coomey Exit Realty Partners Auburn Wiley Cordone Keller Williams Realty Worcester Alica Cummings Quaboag Valley Real Estate Brookfield Ariane Da Silva LAER Realty Partners Westboro Jennifer Davy Homestead Realty Group Millbury Thomas DeCarlo Blackstone Valley Realty Mendon Michael Ezzo RE/MAX Professional Sturbridge Dan Forkuo Exit Realty Partners Auburn Doreen Gagliastro Exit Realty Partners Auburn Mark Giusto Century 21 N.Shore Realty Leominster Danielle Gosselin Exit Realty Partners Auburn Kerry-Lynn Houghton ERA Key Realty Services Whitinsville Triantafyllos Kyriazis Keller Williams Realty Worcester Paul Latino RE/MAX Advantage1 Worcester Terese Laurence Exit Realty Partners Shrewsbury Alicia Lombardi Realty Exec Tri County Bellingham Glen Lucchese LeRoux Realty Group Holden Elisha Lynch Exit Realty Partners Shrewsbury Mary Jane Maday Coldwell Banker Worcester Karynsue Marchione-Reidy Park Place Realty Worcester Dianne McGillivray Millennium Realty Mendon Damien Mroczka M. Titus Realty Inc. Webster Stacey O’Neil Thrive Real Estate Shrewsbury Elizabeth Owusu Hope Realty & Associates Worcester Jessica Phillips Keller Williams Realty Westboro Peter Puzio DCU Realty Marlboro Edward Reardon Millennium Realty Mendon Franklin Safo-Agyare Top Hill Realty Worcester Justin Smith Premeer Real Estate Uxbridge Walter Swift RE/MAX Professional Sturbridge Dennis Urbanowski EXP Realty Westboro Maria Vecchio Exit Realty Partners Worcester Su Wang Keller William Realty Westboro Brooke Wrenn Emerson REALTORS Auburn
New Affiliates
Heather Putnam-Graham Mass Housing 1 Beacon Street, Boston Tina Southerland G & N Insurance 153 Cordaville Road,Suite 310 Southboro Esmeralda Thornton First Niagara Bank
115 East Main Street, Webster
Agents Transferred Armand Belanger Ariane DaSilva Caitlin Gaiewski Karen Guerin Barbara Hopkins
LAER Realty Partners LAER Realty Partners Blackstone Valley Realty LAER Realty Partners LAER Realty Partners
Northboro Westboro Mendon Northboro Northboro
Affiliate Transferred Emily DeGray
Residential Mortgage Svcs. Worcester
Get Your REALTOR® Bracelet! On behalf of the Massachusetts Association of REALTORS® Charitable Trust Foundation, we are happy to announce the rollout of the REALTOR® bracelet! The cost is $20.00 and 100% of proceeds will be used for homeless grants and disaster relief! WRAR has a limited amount on hand and you can pick them up at the office.
New Secondary Realtor Peter Plourde
William Raveis Real Estate 39 East Main Street, Mystic, CT
Worcester Regional Association of REALTORS® 7 www.wrar.org
SEPTEMBER IS REALTOR® SAFETY MONTH
Are you ready to protect your business from
real estate safety risks? Working in real estate means working with a lot of people in a variety of locations and online. While focusing on finding the best real estate opportunities for your clients, you need to keep an eye on the risks of doing business. Real Estate Safety Matters: Safe Business = Smart Business, Class Instructor, is a three-hour course brought to you by Realtor® University. Kimberly Allard-Moccia Learn how you can easily keep business risks low while JOIN US! increasing opportunities for growth by: • • • •
Developing safety protocols for client meetings, open houses, showings and online interactions Understanding responses to threats or attacks Maintaining data security Protecting personal and electronic information
Luncheon Sponsored by Kristen Walther, Norcom Mortgage.
Wednesday, Sept. 23, 2015 12:00 - 3:00 pm WRAR, 492 Washington Street Auburn FREE for WRAR Members $25 for Non-Members Receive 2 CEU’s - RE36R05 Register online at www.wrar.org/events.html
Worcester Regional Association of REALTORS® 8 www.wrar.org
SAFETY TIPS FOR REALTORS® Tip #5 - Open house: it ain’t over till it’s over
Don’t assume that everyone has left the premises at the end of an open house. Check all of the rooms and the backyard prior to locking the doors. Be prepared to defend yourself, if necessary.
Tip #6 - Stranger danger
Tell your clients not to show their home by themselves. Alert them that not all agents, buyers and sellers are who they say they are. Predators come in all shapes and sizes. We tell our children not to talk to strangers. Tell your sellers not to talk to other agents or buyers, and to refer all inquiries to you.
Tip #7 - Sturdy doors are key to home safety
Make sure that all your home’s doors to the outside are metal or solid, 1 ¾” hardwood and have good, sturdy locks.
You may think you already know all the safety tips and tricks, but if you learn ONE new thing, we’ve made a difference. This may be lengthy, but they may save a life! All tips are taken from the NATIONAL ASSOCIATION OF REALTORS® REALTOR® Safety Resource Kit. Visit www.REALTOR.org/Safety for more information on the important topic of REALTOR® safety.
Tip #1 - Keep it light
Show properties before dark. If you are going to be working after hours, advise your associate or first-line supervisor of your schedule. If you must show a property after dark, turn on all lights as you go through, and don’t lower any shades or draw curtains or blinds.
Tip #2 - Checking in
When you have a new client, ask him/her to stop by your office and complete a Prospect Identification Form (Find a copy online at www.REALTOR.org/Safety). Also, photocopy their driver’s license and retain this information at your office. Be certain to properly discard this personal information when you no longer need it.
Tip #3 - Don’t be too public
Limit the amount of personal information you share. Consider advertising without using your photograph, home phone number and/or home address in the newspaper or on business cards. Don’t use your full name with middle name or initial. Use your office address—or list no address at all. Giving out too much of the wrong information can make you a target.
Tip #4- Touch base
Always let someone know where you are going and when you will be back; leave the name and phone number of the client you are meeting and schedule a time for your office to call you to check in.
Tip #8 - Block identity theft
Contact the fraud department of any of the three consumer reporting companies— Equifax®, ExperianSM and Trans Union®— to place a fraud alert on your credit report. The fraud alert automatically lets credit card companies and other creditors know they must contact you before opening any new accounts or making any changes to your existing accounts.
Tip #9 - Keep track of colleagues
Have a check-out employee board at your office, listing your name, destination, customer name, date and expected return time.
Tip #10 - Wear your REALTOR® ID
Always wear visible company identification such as a badge. It is also best to drive a vehicle clearly marked with your company name. These will be invaluable for identification if you need to get assistance.
Tip #11 - Bring up the rear
When showing a home, always have your prospect walk in front of you. Don’t lead them, but rather, direct them from a position slightly behind them. You can gesture for them to go ahead of you and say, for example, “The master suite is in the back of the house.”
Tip #12 - Pick up some self-defense skills
The best way to find a good self-defense class is to learn what is available, and then make a decision. Many health clubs, martial arts studios and community colleges offer some type of class. You can also ask your peers, friends and family if they have taken a self-defense class that they would recommend.
Worcester Regional Association of REALTORS® 9 www.wrar.org
SAFETY TIPS FOR REALTORS® Tip #13 - You take the wheel
Whenever possible, take your own car to a showing. When you leave your car, lock it.
Tip #14 - Shield your computer from e-mail viruses
Computer viruses can impair and seriously damage your computer. Viruses are often distributed via attachments in e-mail spam. Never open an attachment from someone you don’t know, and, if you receive a strange or impersonal-sounding message from a familiar address, check with that person to make sure that they really sent it.
Tip #15 - Got cell service, everywhere?
When you’re showing commercial property, thick walls and/or remote locations may interfere with mobile phone reception. Check in advance to be sure your phone is serviceable in the area in which you are showing the property.
Tip #16 - Choose flight over fight
While every real estate agent should take a basic self-defense course, the primary goal in any threatening situation is to escape from immediate danger and call for help.
Tip #17 - “Who’s calling?”
Install caller I.D. on your telephone, which should automatically reject calls from numbers that have been blocked. This will provide you with immediate information about the source of the call.
Tip #18 - Your trash is another man’s Treasure
Just bought a new entertainment system? A bunch of empty boxes out by the curb triggers an alarm to would-be thieves. Instead of putting boxes out in plain sight, cut them down, and stuff them in trash bags.
Tip #19 - Hide personal information
Tell your sellers: DON’T leave personal information like mail or bills out in the open where anyone can see it. Be sure to lock down your computer and lock up your laptop and any other expensive, easy-to-pocket electronics, like iPods, before your showing.
Tip #20 - Agree on an office distress code
Create a voice distress code, a secret word or phrase that is not commonly used but can be worked into any conversation for cases where you feel that you are in danger. Use this if the person you are with can overhear the conversation, but you don’t want to alarm them. Example: “Hi, this is Jennifer. I’m with Mr. Henderson at the Elm Street listing. Could you e-mail me the RED FILE?” Worcester Regional Association of REALTORS®
Tip #21 - Have your excuse ready
Part of being prepared to deal with a threatening situation is having “an out.” Prepare a scenario in advance so that you can leave—or you can encourage someone who makes you uncomfortable to leave. Examples: Your cell phone or pager went off and you have to call your office, you left some important information in your car, or another agent with buyers is on his way.
Tip #22 - Take 2 seconds when you arrive at your destination to check out potential dangers: • Is there any questionable activity in the area? • Are you parked in a well-lit, visible location? • Can you be blocked in the driveway by another vehicle?
Tip #23 - You are not alone
If you encounter an individual while working late or alone in your office, indicate to that person that you are not alone. Say something like, “Let me check with my supervisor to see whether she’s able to see you now.”
Tip #24 = Your e-mail is public
Don’t send any vital or private information via e-mail. Keep in mind that unlike Web sites, e-mail is never secure.
Tip #25 - Don’t get lost
If you are in an unfamiliar area, make mental notes of landmarks, points of interest and intersections. And always know the exact address of where you are going. If you must use a GPS, then pull over and stop in a safe place first.
Tip #26 - Careful with cash deposits!
If you periodically carry large deposits to the bank, be especially aware of any strangers lurking around the office parking lot. If you must transport cash deposits, use the buddy system or arrange for a security service or police escort.
Tip #27 - Lock up client keys
Be sure to use the lockbox property-key procedure that has been established to improve real estate agent safety. A reliable, secure lockbox system such as those made by NAR REALTOR Benefits® Partner SentriLock (www.sentrilock. com) ensures that keys don’t fall into the wrong hands.
Tip #28 -Shop online safely
When shopping online, check out a Web site before entering your credit card number or other personal information. Enter this information only on secure Web pages with addresses that start with “https” and have a closed padlock symbol at the bottom of the browser window. These are signs that your information will be encrypted or scrambled, protecting it from hackers. 10 www.wrar.org
SAFETY TIPS FOR REALTORS® Tip #29 - Nothing personal…
When talking to clients and prospects, be friendly but still keep your personal information private. This means avoiding mention of where you live, your after-work or vacation plans, and similar details.
Tip #36 - Carry less
If you carry a purse, lock it in your car trunk before arriving at an appointment. Carry only non-valuable business items (except for your cell phone), and do not wear expensive jewelry or watches, or appear to be carrying large sums of money.
Tip #30 - Take two seconds as you walk towards your desti- Tip #37 - Don’t get parked in When showing property or meeting someone, park your car in nation to check out potential risks. • Are people coming and going or is the area unusually quiet? • Do you observe any obstacles or hiding places in the parking lot or along the street? • Is anyone loitering in the area?
front of the property rather than in the driveway. You will avoid having your car blocked in, you’ll have an easier time escaping in your vehicle, and you will attract lots of attention running and screaming to your car at the curb area.
Tip #31 - Be careful with keys
Tip #38 - Monitor your financial accounts
Don’t hand out house keys to friends, even if they are trustworthy. Know the location of all your house keys all the time. Never use hide-a-keys or leave the key under the doormat, above the door, in a flowerpot, or anywhere outside the house. You may think you’re being clever, but experienced thieves know all the tricks. Also, keep your car keys and house keys on a different ring if you ever use valet parking or leave your keys with parking lot attendants or even at a repair garage.
Tip #32 - From dawn till dusk.
When showing a vacant commercial site, be aware of the time of day you meet a client. Showing a property at dusk or after dark, with no electricity on in the space you are showing, is not advisable.
Tip #33 - Thwart thieves
Remind your clients that strangers will be walking through their home during showings or open houses. Tell them to hide any valuables in a safe place. For security’s sake, remember to remove keys, credit cards, jewelry, crystal, furs and other valuables from the home or lock them away during showings. Also remove prescription drugs. Some seemingly honest people wouldn’t mind getting their hands on a bottle pills.
Tip #34 - Long-term thinking
If you think it may be some time before a property sells (and you may, therefore, be showing it often), get acquainted with a few of the immediate neighbors. You will feel better knowing they know your vehicle, and they will feel better about the stranger (you) who frequently visits their neighborhood.
Tip #35 - Don’t dial and drive!
Using a cell phone while driving can cause an accident. For driving safety, purchase a hands-free phone kit for your vehicle. And never attempt to take notes while driving – pull over and stop in a safe place first. Worcester Regional Association of REALTORS®
Open your credit card bills and bank statements right away. Check for any unauthorized charges or withdrawals and report them immediately. Call if bills don’t arrive on time. It may mean that someone has changed contact information to hide fraudulent charges.
Tip #39 -Take two
Take a few seconds to pause and look around as you enter your destination. • Does anything seem out of place? • Is anyone present who shouldn’t be there or who isn’t expected?
Tip #40 - Plan ahead with escape routes
Upon entering an open house property for the first time, check each room and determine at least two “escape” routes. Make sure all deadbolt locks are unlocked for easy access to the outside.
Tip #41 - Keep it professional
All of your marketing materials should be polished and professional. Don’t use alluring or provocative photography in advertising, on the Web or on your business cards. There are many documented cases of criminals actually circling photographs of their would-be victims in newspaper advertisements.
Tip #42 - Best practices for model home showings
When a person comes through the office to view a model home, have them complete a guest register that includes their full name, address, phone number, e-mail, and vehicle information.
Tip #43 - Safe apartment living
Moving into an apartment? Have the locks changed when you move in. (The maintenance crew can simply swap lock cylinders with a random vacant apartment, a project that is free and takes only a few minutes.) And just use your last name, or if necessary last name and first initial, on your door or mailbox. This keeps strangers from knowing your gender or how many people live in your apartment. 11 www.wrar.org
SAFETY TIPS FOR REALTORS® Tip #44 - Rely on good neighbors
Inform a neighbor that you will be hosting an open house, and ask if he or she would keep an eye and ear open for anything out of the ordinary.
Tip #45 - Be prepared: pre-program!
To best prepare for an emergency, preprogram important numbers into your cell phone. These may include your office, your roadside assistance service or garage, and 9-1-1.
Tip #46 - Beware of “phishers”
Don’t respond to e-mails requesting personal or private information such as passwords, credit card numbers or bank account numbers. Even if a message appears to be from your bank or a trusted vendor, credible companies never request private information this way.
Tip #47 - Scam alert!
At an open house, be alert to visitors’ comings and goings, especially near the end of showing hours. Police have reported groups of criminals that target open houses, showing up en masse near the end of the afternoon. While several “clients” distract the agent, others go through the house and steal anything they can quickly take.
Tip #48 - Make your clients your “safety partners”
Inform clients who are selling that while you are taking safety precautions, and that you’ve checked and locked the home before leaving, they should immediately double-check all locks and scout for missing items immediately upon their return, in case you’ve missed any less-than-obvious means of entry.
Tip #49 - Don’t use the “V word”
When describing a listing, never say that a property is “vacant.” This may be an invitation to criminals.
Tip #50 - Check suspicious e-mails
Before you act on an e-mail request, check a list of the latest e-mail scams on the Federal Trade Commission’s Web site at http://www.ftc.gov/bcp/menu-internet. htm.
Tip #52 - Public Transportation Should be for the public… Not from the public
If you plan on using public transportation, whether it’s from a convention or to an open house, Make sure that you are riding in a registered taxi (before entry). Be aware that people may be soliciting rides using their own vehicles. Ask yourself some questions before entering. • Can you definitively indicate that the vehicle you are about to enter is a registered form of public transportation? (Look for signs, symbols, or a phone number on the car to confirm its validity) • If in doubt stay out
Tip# 53 - Be in Charge
Whenever possible, be sure your cell phone has a full battery charge or is in the process of charging. This is critical, especially if you plan on leaving the house/venue.
Tip# 54 - People are not who they say they are
Even with the help of caller I.D, you can never be too sure you know who you are talking to. For example, if someone who claims to know you gives you a call and starts to make unusual requests on your behalf, then STOP TALKING!! Scammers feed of your reactions in order to compile additional information. Hint: If the caller has no recollection of previous conversations, then they are not who they say they are.
Tip#55 - Have a lifeline
If you find yourself to be the last one in an open house and your car is not in the immediate vicinity of the venue, then make a phone call as you walk. Assailants will be less willing to attack if you are in mid conversation with another person. Give your best friend a call; they would love to hear about your day.
Tip#56 -Be aware of adware and malware
Be sure that you don’t click on error messages with unfamiliar logos that state “your computer has been infected with a virus” or “Trojan found” These messages with unfamiliar logos will tell you there is something wrong with your computer and to download their protection service, when in actuality you are downloading a virus and setting yourself up for information loss.
Tip #51 - When in doubt, shred!
Thoroughly shred all papers with personal information before you throw them away. Shred unwanted credit card applications and “convenience checks” that come in the mail, credit card receipts with your account number, outdated financial papers and papers containing your clients’ personal information.
Worcester Regional Association of REALTORS®
12 www.wrar.org
PROFESSIONAL DEVELOPMENT Consumer Financial Protection Bureau (CFPB) & THE Effect on Real Estate Closings Receive 2 CEU’s - RE93R15 Dates: Sept. 8 5:30-7:30pm Sept. 25 11am-1pm Place: WRAR, 492 Washington St Auburn, MA Cost: FREE to WRAR Members
We are continuing this course so you can be fully prepared when the new rules take effect on October 1. This course provides a counseling session to prepare real estate agents and their clients on how to respond to new changes to the Consumer Financial Protection Bureau’s (CFPB) rules. Food & Refreshments will be served at the 9/8 & 9/25 classes courtesy of Mark P. Covotta Branch Manager Stonegate Mortgage NMLS# 65971
REGISTER ONLINE AT WRAR.ORG or CALL 508-832-6600 Worcester Regional Association of REALTORS®
13 www.wrar.org
PROFESSIONAL DEVELOPMENT The WRAR Professional Development Committee is pleased to present:
2015 Office Leadership Breakfast Series Offered exclusively to Brokers & Office Managers
Don’t end up in court! 20 Misrepresentation & Disclosure Situations that can be Avoided
BE PREPARED
PROTECT YOUR PROFITS
Session 3 Topic:
BROKER AWARENESS
Managing Your Potential Exposure As a Broker / Owner
With special guest speaker, Attorney Matt Rousseau of Rousseau & Marino, P.C, Sturbridge.
Date: Monday, September 14, 2015 Breakfast: 8:30 am Program: 9:00-11:00 am Cost: $15 each
RISK MANAGEMENT
NEXT SESSION: November 9
Hot Topics from the Legal Hotline with Ashley Stolba THANK YOU TO OUR SPONSOR:
............................................................................. Register now - $15 each - Fax to 508-832-6620 or email to lsprague@wrar.org. Sept. 14_____($15)
Nov. 9_____($15)
Name:_________________________________________________________________________________________ Firm:_________________________________________________________________________________________ Billing Address:_________________________________________________________________________________ Credit Card/Expiration:___________________________________________________________________________ email:_______________________________________________ phone:____________________________________
Worcester Regional Association of REALTORS®
14 www.wrar.org
PROFESSIONAL DEVELOPMENT
You’ r e Invi t e d TO A LUNCH AND LEARN
With Wintrust Mortgage and the Worcester Regional Association of Realtors®
Let us host a Lunch & Learn for you! TRID FOR DUMMIES TRID’s implementation date of October 1, 2015 is approaching fast! Are you ready? WE ARE! Let’s sit down and discuss: • Our efficiencies • Turn around times • Our ability to get it right the first time
When: Monday, September 14 | 12:00 -2:00 pm Where: 492 Washington Street | Auburn MA 01501 RSVP: www.wrar.org/events.html
While the paperwork will change, our commitment to getting it done correctly and on time won’t. Two hours of CEU credits will be given upon completion of the class.
175 Highland Avenue, Suite 306 Needham, Massachusetts 02494
Senior Mortgage Loan Professional NMLS #13530
Michael S. Dutra
Senior Mortgage Consultant NMLS #153699
Justin Bitler
John G. Genga, III
Direct: 781.453.6927
NH/VT: 603.448.9192
Office: 781.453.8900
Cell: 401.486.6894 eFax: 844.766.1954 MDutra@WintrustMortgage.com www.TeamDutra.com
MA: 508.271.7160 Office: 781.247.9374 eFax: 855.900.2363 JBitler@WintrustMortgage.com
Senior Mortgage Consultant NMLS #4231
Cell: 617.651.0571 eFax: 844.889.5383 JGenga@WintrustMortgage.com www.WintrustMortgage.com
This information is intended for mortgage and real estate professional use only and is not an advertisement to extend customer credit as defined by Section 226.2 Regulation Z. Wintrust Mortgage is a division of Barrington Bank & Trust Company, N.A., a Wintrust Community Bank NMLS# 449042 © 2015 Wintrust Mortgage. 150804047KO
Worcester Regional Association of REALTORS®
15 www.wrar.org
PROFESSIONAL DEVELOPMENT
THE POWER NEGOTIATOR’S PLAYBOOK
Designation/Certification: ABR® & SRS® Elective This one-day course is an interactive experience to help negotiators elevate their game! This course examines all types of negotiation formats and methods so that today’s negotiators can play the game to win. A full spectrum of tips, tools, techniques and advantages will be provided so that negotiators can provide effective results for their client.
Date: Time: Place:
Tuesday, September 15, 2015 9:00 am - 4:00 pm WRAR, 492 Washington Street Auburn, MA Members: $149 Non-Members: $179 Instructor: Barbara Fairfield
Lunch will be sponsored by Eva S. Kokosinska Merrimack Mortgage Company, LLC Instructor:
Barbara Fairfield, ABR, CBR, GRI, SRES, SRS, GREEN, SFR
Barbara is the Owner/Partner of Dynamic Directions, Inc. - an educational and sales training firm that internationally delivers quality education to associations and companies. Barbara entered the real estate business in 1980. She earned her broker's license in 1985 and co-founded Sterling, Realtors in Middletown, Connecticut. Barbara is a member of the Connecticut Association of Realtors. She has proudly served as the 1999 RPAC chair, as the 2000 Issues Advocacy chair and is presently serving as the 2003 Division Vice President for Member Services for the Connecticut Association of Realtors. Barbara was appointed the 2001 Marketing Forum chair for the National Association of Realtors, served on NAR's 2002 Risk Management committee and is presently serving on NAR's Education Committee. She holds the Accredited Buyer Representative designation, the Certified Buyer Representative designation, the Seniors Real Estate Specialist designation and is a Graduate of the Realtor Institute
Register online at www.wrar.org Worcester Regional Association of REALTORS®
16 www.wrar.org
PROFESSIONAL DEVELOPMENT
Join us for a special Certified Military Residential Specialist Boot Camp 3 hour CE Certification Event for Real Estate Professionals-2 Continuing Education credits
Wednesday, Sept. 16th, 2015 FAIRWAY INDEPENDENT MORTGAGE CORP., through its American Warrior Initiative, is bringing its groundbreaking Realtor® Certification Boot Camp to Worcester, MA
THIS PROGRAM WILL INCLUDE:
Beechwood Hotel
« 3-Hour Continuing Education Class, 2 CE Credits R E73R11 Veterans Administration (VA) Loans « Certified Military Residential Specialist Certification (CMRS) « Book Signing with Sean Parnell
363 Plantation St. Worcester, MA 01605 8-8:30am Registration & Breakfast 8:30-11:30am CMRS Boot Camp (3 Hour, 2 CE) 11:30am-11:50am Sean Parnell Presentation 11:50am -12pm Veteran Presentation 12-12:30pm Book Signing
Registration Fee $20 which goes towards Veteran’s Initiative To Register online: http://www.wrar.org/events-certified-military-residential-specialist-boot-camp.html
And in typical Fairway fashion, there may be a few life changing surprises.... You will NOT want to miss this event...
ABOUT THIS COURSE THIS COURSE IS DESIGNED TO EDUCATE AND TRAIN REAL ESTATE PROFESSIONALS TO BE EQUIPPED TO HANDLE WITH EXCELLENCE THE HOME PURCHASE NEEDS OF ACTIVE DUTY AND FORMER MILITARY CLIENTS.
SEAN PARNELL, a U.S. Army Airborne Ranger and New York Times best-selling author of Outlaw Platoon, served in the legendary 10th Mountain Division for six years, retiring as a highly decorated captain.
Studies
Training
492 Washington St, Auburn, Massachusetts 01501
Worcester Regional Association of REALTORS®
(508) 832-6600
17 www.wrar.org
PROFESSIONAL DEVELOPMENT
Marketing Session
REALTORS®
Commercial Alliance
DATE: PLACE:
Thursday, September 17, 2015 Worcester Regional Assn. of REALTORS® 492 Washington St., Auburn, MA Time: 10:00 am - 3:00 pm FREE CEU Class: Join us from 10 am - 12:00 pm for RE88C14: Retail Trends on Lease Negotiations
5050 Raffle We will offer a 50/50 Raffle at every session, with proceeds to benefit the MAR Charitable Foundation. Bring your checkbooks!
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. 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.
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
Thank you to our Class Sponsor:
Here’s one reason why you will want to plan to attend all 12 Sessions
“25% of my commercial business in 2014 was a direct result of these monthly Marketing Sessions. I wouldn’t miss one!”
TO REGISTER please contact Colleen Pappas at 508-832-6600 x 106, or cpappas@rcama.org
Frank Bertolino, Keller Williams
Worcester Regional Association of REALTORS®
18 www.wrar.org
PROFESSIONAL DEVELOPMENT You’re Invited!
Lunch and Learn with Bill Murphy of Fairway Mortgage CEU Course: RE47R05
Residential Mortgage Loan Market & Credit Today
The Worcester Regional Association of REALTORS® 492 Washington St. Auburn, MA 01501
Have Your Best Fall Ever in 2015! September 18th 2015 11:00 AM – 1:00 PM (Registration 10:30 AM) Lunch and refreshments will be served courtesy of Attorney Jessica Albino RSVP ONLINE: http://www.wrar.org/events.html What to Expect:
•
• • • • • • • •
New changes beginning with TRID on October 3rd 2015 that could impact your closing date New 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 2015 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 credit scores and maximize their loan options Understanding credit and credit scores and how it impacts loan programs and rates Credit refresh 8 days prior to closing Cheat sheet for FHA, VA, Conventional, USDA and MA Housing
Hosted by: Bill Murphy of Fairway Independent Mortgage – CMP Center for Real Estate Studies & Training
This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. Other limitations may apply. ©2014 Fairway Independent Mortgage Corporation NMLS ID#2289 (www.nmlsconsumeraccess.org) EQUAL HOUSING LENDER.
Worcester Regional Association of REALTORS®
19 www.wrar.org
HOMEBUYER’S INFO NIGHT - PUBLIC WELCOME
HOME BUYERS INFORMATION NIGHT
& Join us for an informative session on what you need to know when buying a home
Tuesday September 22nd 6pm-7:30pm
The Worcester Regional Association of REALTORS® 492 Washington St. Auburn, Ma
Information Provided By: • Mortgage Loan Originator • Lawyer • Credit Specialist
Here you will:
• Learn about the home buying process from Pre-Approvals to the closing of your home • Receive free credit reports • Q & A Session with a Closing Attorney **Refreshments Will Be Provided** To Pre-Register call Jennifer Wilson at 508-764-0047
Worcester Regional Association of REALTORS®
20 www.wrar.org
PROFESSIONAL DEVELOPMENT
New agents and top producers from all over the US and Canada say this course exceeded expectations and provided them with cutting-edge tools that leave their competition in the dust!
Earn your Seller Representative Specialist (SRS) Designation. Now recognized by the National Association of REALTORS® Receive 4 CEU’s
Whether you are new to the industry or a seasoned veteran, the SRS Course will redefine your “normal” and reinvent the way you represent sellers. Come learn tips and tools that will equip you to list in today’s marketplace. Increase listings and grow your business. Demonstrate and communicate your value package. Understand and apply the Code of Ethics & Standards of Practice. Understand and comply with state license laws. Understand and apply methods, tools and techniques to provide support and services that sellers want and need. Instructor:
TAKE THE COURSE! Dates: Time: Place:
Sept 28 & 29, 2015 9:00 am - 5:00 pm WRAR, 492 Washington Street Auburn, MA Early Bird: $275 until Sept. 1 Regular: $299 Non-Members: $325 Register online at www.wrar.org or call Lisa at 508-832-6600
Barbara Fairfield, ABR, CBR, GRI, SRES, SRS, GREEN, SFR Barbara is the Owner/Partner of Dynamic Directions, Inc. - an educational and sales training firm that internationally delivers quality education to associations and companies. Barbara entered the real estate business in 1980. She earned her broker's license in 1985 and co-founded Sterling, Realtors in Middletown, Connecticut. Barbara is a member of the Connecticut Association of Realtors. She has proudly served as the 1999 RPAC chair, as the 2000 Issues Advocacy chair and is presently serving as the 2003 Division Vice President for Member Services for the Connecticut Association of Realtors. Barbara was appointed the 2001 Marketing Forum chair for the National Association of Realtors, served on NAR's 2002 Risk Management committee and is presently serving on NAR's Education Committee. She holds the Accredited Buyer Representative designation, the Certified Buyer Representative designation, the Seniors Real Estate Specialist designation and is a Graduate of the Realtor Institute
Worcester Regional Association of REALTORS®
21 www.wrar.org
PROFESSIONAL DEVELOPMENT WRAR is proud to bring Voluntary Benefits for our Realtors®, Brokers and Affiliates! Made available to you through our VIP Sponsor, Forward Financial Services. Join us at our next Lunch & Learn, where we will discuss all of the benefits available to you AND your employees -- simply by being a member of WRAR. Just for attending and speaking with us, you will receive a FREE WellCard and a FREE College Tuition Benefit Program -- no strings attached!
When: Thursday, 10/1/2015 Where: WRAR, 492 Washington St., Auburn Time: 12:00 - 2:00 pm Register online at www.wrar.org
You can’t afford to miss this meeting!
Thomas M. Valentine Jr., President/Financial Advisor * tom@forwardfinancialsrv.com Gretchen J. Antonelli, Director of Marketing & Operations * gretchen@forwardfinancialsrv.com 645 Chandler Street Worcester, MA 01602 Phone: 508-796-5950 * Fax: 508-519-8518 www.forwardfinancialsrv.com
Worcester Regional Association of REALTORS®
22 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 - Wednesday, September 2, 2015 Time
Instructor
Course Code
Course Title
8:00am
Brad Roberts
RE36R05
Conducting Open Houses & Developing a Safety Plan
10:00am
Brad Roberts
RE34RC03
National Economic Trends & the Real Estate Professional
12:00pm
Brad Roberts
RE73R11
Veteran Administration (VA) Loans
Auburn - Tuesday, September 22, 2015 8:00am
Jo Ann Szymczak
RE28RC12
Foreclosures
10:00am
Jo Ann Szymczak
RE91R14
Disclosures…Disclosures…Disclosures
12:00pm
Jo Ann Szymczak
RE62RC10
Comparative Market Analysis (CMA)
MAR CONFERENCE & TRADE SHOW 2015 MAR Conference & Tradeshow September 28-29, 2015 50 Ferncroft Road Danvers, MA 01923 DoubleTree by Hilton Boston North Shore Professional Awards Dinner: $75pp (Sunday, September 27th, 6pm-9pm) Hotel Information: A block of rooms have been reserved at a rate of $139 per night. This special room rate will be available until Friday, September 4th, based on availability. To reserve a room please call the DoubleTree by Hilton Boston North Shore, directly at 978-777-2500 and inform them your with the Mass. Assoc. of REALTORS® group. For additional information or to register, please visit:
https://www.marealtor.com/events/conference-and-tradeshow Worcester Regional Association of REALTORS®
23 www.wrar.org
GOVERNMENT AFFAIRS COMMITTEE The Home Builders & Remodelers Association of Central Massachusetts and the Worcester Regional Association of REALTORS®
Present our Annual
2015 LEGISLATIVE BREAKFAST Friday, September 18, 2015 8:00 am Registration 8:30 am Program Members: $30 Non-Members: $35
Worcester Technical High School One Skyline Drive Worcester, MA 01605
Topics to be discussed: Legislative updates from MAR & Builders Association Legal Counsel: Michael McDonough & Ben Fierro Moderated by Brad Roberts, 2015 WRAR President Comments by Legislators Thank you to our Sponsors: The Law Office of Jessica Albino * Daviau Law Offices, PC * Fairway Mortgage * Prestige Home Mortgage Southbridge Savings * WinTrust Mortgage Bank of Canton * Cahn & Barron, LLC, Attorneys at Law * Embrace Home Loans * Fidelity Bank Forward Financial Services * Mirick O’Connell* MLS PIN * Prospect Mortgage * Security First Mortgage * Webster Five
Support Home Ownership - Join us!
Featuring Keynote Speaker, Tim Murray, President & CEO Worcester Regional Chamber of Commerce
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®
24 www.wrar.org
WRAR RPAC STATUS Each year, the National Association of REALTORS速 sets goals that the local associations are encouraged to reach. For 2015, our NAR Goals are:
RPAC Donations
We need your help. We are almost at Goal!
$24,000 $23,000 $22,000 $21,000 $20,000
Goal $23,677
Donations
Current $22,680
RPAC Participation 430 425 420 415 410 405 400 Participation
Goal 426
Current 419
Have you made your fair share contribution this year? If not, please contact WRAR today. Worcester Regional Association of REALTORS速
25 www.wrar.org
YOUNG PROFESSIONALS NETWORK The WRAR YPN held a summer outing in August with BBQ, cornhole tournament and dunk booth. If you weren’t there, you missed the fun! Thank you to our sponsors, Attorney Jessica Albino; Deb Jordan of Shamrock Financial; Jess Barber of Exit Realty, who donated the dunk booth; and Kris Koliss of Paramount Realty, who donated the beach basket door prize.
Worcester Regional Association of REALTORS®
26 www.wrar.org
LOCAL MARKET UPDATE Local Market Update – July 2015 A RESEARCH TOOL PROVIDED BY THE MASSACHUSETTS ASSOCIATION OF REALTORS®
Worcester Regional Association of REALTORS®
+ 26.0%
+ 3.9%
- 18.6%
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
2014 496 567 $265,000 2,935 6.6 91 95.5% 851
Pending Sales Closed Sales Median Sales Price* Inventory of Homes for Sale Months Supply of Inventory Cumulative Days on Market Until Sale Percent of Original List Price Received* New Listings
2015 667 724 $278,750 2,410 5.3 82 96.8% 848
Year to Date +/– + 34.5% + 27.7% + 5.2% - 17.9% - 18.5% - 9.4% + 1.3% - 0.4%
2014 3,247 2,894 $255,000 --112 94.6% 5,590
July
Condominium Properties
2014 116 129 $199,399 583 5.3 83 96.1% 161
Pending Sales Closed Sales Median Sales Price* Inventory of Homes for Sale Months Supply of Inventory Cumulative Days on Market Until Sale Percent of Original List Price Received* New Listings
2015 158 153 $219,950 454 4.1 75 97.4% 174
2015 3,818 3,058 $263,000 --110 95.3% 5,620
+/– + 17.6% + 5.7% + 3.1% --- 2.2% + 0.7% + 0.5%
Year to Date +/– + 36.2% + 18.6% + 10.3% - 22.1% - 22.7% - 9.7% + 1.4% + 8.1%
2014 799 746 $204,950 --98 96.0% 1,201
2015 930 760 $215,000 --94 96.2% 1,266
+/– + 16.4% + 1.9% + 4.9% --- 3.3% + 0.2% + 5.4%
* 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
b
All MLS
b
Worcester Regional Association of REALTORS®
a
Worcester Regional Association of REALTORS®
a
$350,000
$350,000
$300,000
$300,000 $250,000
$200,000 $250,000
$150,000
$200,000 1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
$100,000 1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
All data from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS®, Inc. and MLS Property Information Network, Inc. | Provided by MAR. | Powered by 10K Research and Marketing.
Worcester Regional Association of REALTORS®
27 www.wrar.org
LEGAL HOTLINE Michael McDonagh, MAR General Counsel Ashley Stolba, MAR Associate Counsel Justin Davidson, MAR Staff Attorney
Q. I just heard of a recent case that may impact where sex offenders can and cannot live. What is that all about? A. On August 28, 2015, the Massachusetts Supreme Judicial Court ruled in the case of Doe v. City of Lynn (SJC 11822). In its ruling, the Court struck down an ordinance in the city of Lynn that prohibited Level 2 and Level 3 sex offenders from living within 1,000 feet of a school or park. The Court ruled that the ordinance was inconsistent with the sex offender registry and tracking system established by the Legislature, and that municipalities do not have the authority to restrict where sex offenders can reside. At least forty other cities and towns in Massachusetts have similar sex offender registry restrictions and this case likely makes those ordinances unenforceable. The Legislature, if it so chooses, could amend the Laws of the Commonwealth to create or authorize the restrictions. The Massachusetts Association of REALTORS® has not been involved in the case. Q. I know that the Real Estate Settlement Procedures Act (“RESPA”) and the Truth in Lending Act (“TILA”) laws and regulations are changing as of October 3rd, 2015. What do I need to know? A. Because of the central role that REALTORS® play in transactions, buyer and seller clients will be looking to you for guidance as they apply for a loan and prepare for closing. It is always recommended that REALTORS® refer specific questions about their loan or legal obligations to their lender or attorney. Nonetheless, it is important to be familiar with the changes. The most significant change is that the new “Closing Document” form must be delivered to the consumer a full three days prior to closing and if there are changes during that the three day period, the closing could be delayed. The Consumer Financial Protection Bureau (the CFPB) attempted to give the industry leeway by saying that only a change in major loan terms would trigger a new three day waiting period. However, the CFPB also made it clear that lenders would be liable for the accuracy of the documents. As such, lenders are taking a conservative approach for good reason: a loan that has a potential RESPA/TILA error will be difficult to sell on the secondary market. Thus, lenders will likely be resistant to last minute changes. Worcester Regional Association of REALTORS®
R E A L TORS® should no longer expect to be able to make last minute ch an ge s at the closing. It is wise to prepare clients for this as well. A good rule of thumb is if you want to close on the 30th, make sure everything is ready on the 23rd. Q: Are there going to be any new RESPA/TILA forms that I need to be familiar with? A: Yes, there are two new forms to be familiar with. First, the Good Faith Estimate (GFE) and the initial Truth-inLending disclosure (initial TIL) have been combined into the new “Loan Estimate” form. This form will explain to buyers the key features, costs, and risks of the mortgage loan and must be provided to consumers within three business days after they submit a completed loan application. Second, the old HUD-1 and final Truth-inLending disclosure have been combined into the new “Closing Disclosure.” This will need to be provided to consumers at least three business days before closing. The MAR Forms Content Committee will also be releasing a new disclosure to buyers and sellers that will be available in September. MAR members should keep an eye out for articles, classes, webinars and blog posts designed to keep agents abreast of the changes that we will experience. Q. Where can I get more information about TRID? A. The CFPB, together with the National Association of REALTORS® created numerous helpful documents, which can be found here: http://www.consumerfinance.gov/ regulatory-implementation/tila-respa/. More information can be found on NAR’s website here: http://www.realtor.org/topics/trid-tila-respa-integrated-disclosure 28 www.wrar.org
2015 BOARD OF DIRECTORS President, Brad Roberts President Elect, Kris Koliss Vice-President, Sarah Gustafson Secretary, Judy Patterson Treasurer, Michael Meurant Immediate Past President, Dave Stead
Kathleen Cooper Diane Dabrowski Jayne Diliberto Tracey Fiorelli Erika Hall Lorraine Herbert Lee Joseph Kathy McSweeney Leslie Storrs James Keenan John Vaillancourt
WRAR COMMUNITY ACTION COMMITTEE Annual Backpack Drive The Community Action Committee collected and packed over 300 backpacks for students in
Director Director Director Director Director Director Director Director Director Alternate Alternate
Worcester County. Thank you to all who donated!
Special thanks to those who took time from their busy schedules to help pack and/or shop: Marianne Belanger, RE/MAX Vision; Kathy McSweeney, Collins & Demac RE; Fiona Hoare, RE/MAX Professional; Afaf Gerges, Marriott Residence Inn/ERA Key; Tracey Fiorelli, Janice Mitchell Real Estate; Susan Baghdasarian, Country Road Realty with her grand daughter Abby; Charlsey Gentile, Exit Realty Partners; Alan Gelineau & Kim Hines, ERA Key Auburn; Bryan Davis, ERA Key Worcester; Lee Abdella, Walsh Home Inspections; Jayne Diliberto, AJ Homes; Jason Arakelian, Mortgage Financial with his two sons; Arlette Lynch, Webster Five; Cheryl Kemp, Nextage M3 Realty; Serena Berube, Sterling Realty Belair; Keith Pentz, RE/MAX Advantage; Val Tourtellotte, American Consumer Credit; Casey Pappas, daughter of WRAR EVP Colleen Pappas; Judy Patterson & Committee Chair Kris Koliss, Paramount Realty Group; Rich Power, Commonwealth Environmental Services.
WRAR STAFF Executive VP, Colleen Pappas Office Manager, Lisa Sprague Marketing Manager, Jacki D’Innocenzo Accountant, Maura O’Connor
WRAR office hours are 9:00 am— 5:00 pm. For assistance with the MLS Lockbox system, please make an appointment with Lisa Sprague at 508-832-6600. Please LIKE our facebook page at https:// www.facebook.com/ WorcesterRegionalAssociationofREALTORS. By doing so you will not only get up-to-the-minute information on everything going on at WRAR, but you will help us to increase our visibility while growing your own business network.
Worcester Regional Association of REALTORS®
29 www.wrar.org