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LUBBOCK REALTOR® August 19, 2013 Phone (806) 795-9533 Fax (806) 791-6529 5015 Knoxville Avenue, Lubbock Texas 79413-4039 2013 Board Officers Coby Crump, President Nancy Rawls, President Elect Rusty DeLoach, Treasurer Charles Kearney, Secretary Debora Perez-Ruiz, Chairman of the Board DIRECTORS Cynthia Arriaga, 2013—2014

JUNE MONTHLY MARKET COMPARISON Categories

July 2012

July 2013

Percent Change

Total Residential Property Sales

307

468

52.4%

Total Residential Dollar Volume

$45,342,778

$72,213,666

59.3%

Average Single-Family Sales Price

$147,696

$154,303

4.5%

Median Single-Family Sales Price

$120,500

$127,500

5.8%

Jef Conn, 2013—2014

Total Active Residential Listings

1,637

1,193

-27.1%

Mary Ann Grafft, 2012—2013

Total Pending Residential Sales

261

262

0.4%

Frank Harmon, 2013—2014

Months Inventory*

6.4

3.8

-40.6%

Jacky Howard, 2013—2014

*Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity.

Tara Newton, 2012—2013

Year-to-Date Comparison

Gary Owen, 2012—2013 Jeff Sellers, 2012—2013

Jan-July 2012

Jan-July 2013

Percent Change

Total Residential Property Sales

2,024

2,578

27.4%

Dan Williams, 2013—2014

Total Residential Dollar Volume

$296,889,855

$394,163,584

32.8%

Jana Wuthrich, 2013—2014

Average Single-Family Sales Price

$146,685

$152,895

4.2%

EX OFFICIO DIRECTORS Cheryl Isaacs, 2011-2013 TAR

Median Single-Family Sales Price

$119,500

$123,350

3.2%

Susan Shakespeare, 2012—2013 Scott Toman, 2012—2013

Director John Walton, TAR Director Lifetime

Categories

Notice on this information:  Multiple Listing Service data is reported to the Real Estate Center at Texas A & M and the National  Association of REALTORS® on the eighth of each month.  Year‐to‐date data may be corrected for information reported after  the eighth.  Neither the association nor its MLS guarantees or is in any way responsible for its accuracy.  Data maintained by  the association or its MLS may not reflect all activity in the real estate market. 

Members Choose Rapattoni for Association’s Multiple Listing Service A quorum—twenty percent—of LAR members met August 1st at the Scottish Rite Learning Center to vote on a recommendation of the Board of Directors to sign a thirtysix month contract with Rapattoni Corporation for their Multiple Listing Service system, association management software and Integrated Website Service. Ninety-two percent voted in favor of the change, which means that Navica will no longer be available on January 1, 2014. The recommendation came from a two-year research process conducted by the association’s MLS Issues and Policies Committee. The committee invited numerous companies to the LAR to demonstrate their MLS systems, including Dynaconnections, FBS (FlexMLS), LPS (Paragon) and Systems Engineering (Navica). Many of these systems were demonstrated more than once. Rapattoni was ultimately chosen for a multitude of reasons, including:  Configurable and easy to use software designed to be easy to read, pleasing to the eye, and intuitive.  Touch based and map-centric tablet interface providing an optimized user experience when accessing the MLS from an iPad or Android device, which is crucial in the increasingly mobile real estate world.  Listing input auto-population, allowing for data to automatically be pulled from tax records and other systems.  Advanced map search capabilities, which is becoming more important to agents and clients alike.  Client Portal access, adding more levels of service for your clients while keeping the agent in touch with their needs.  Advanced statistics, charts and reporting functions, which will be beneficial to agents as well as the association. Page 1


MEMBER NEWS  Excellent third party integration for website vendors and other real estate software. There will also be decreased costs to provide MLS data to agent websites and office software.  Extensive, multi-tiered support for agents to suite their needs.  Rapattoni is on the cutting edge of technology, allowing MLS participants to work smarter, while giving you the tools to provide your clients with a higher level of service. There will be extensive training opportunities for members and staff to learn the new system. Currently, the target date for training is the week of December 2nd. More information about training and when the system will be available will be sent as the association works with Rapattoni to transfer all MLS data to the new system, including all listing information and prospect data. The association will also benefit from Rapattoni’s Integrated Website Service (IWS), bringing a fresh look and a true member site. The association will have a dedicated Member Portal at LubbockREALTORS.com where members can log-in to the MLS, register for courses, view upcoming events and much more. Rapattoni has helped many associations improve their website including the 3,800 member San Francisco Association of REALTORS®, the 1,600 member Greater Northwest Indiana Association of REALTORS® and the 1,400 member Glendale Association of REALTORS®.

Total Members 819 (↑ 8.3% YTD) 171 Companies │ 648 Salespersons REALTOR® Applications Companies Kendra Sutherland

Salespersons Dabney Bush

Keller Williams Realty

Rendi Webb

Keller Williams Realty

Ben Scarborough

Century 21 John Walton, REALTORS®

Joey Nichols

Keller Williams Realty

Jamie Overton

Kearney & Associates, REALTORS®

Meagan Thompson

Keller Williams Realty

Jamie Dillard

Lyons Realty

Kathy Thompson

Paul Garrett, REALTORS®

Shannon Hansen

Keller Williams Realty

Kendra Birchfield

Lyons Realty

Mike Torres

Ultima Real Estate

Chase Tucker

Coldwell Banker Rick Canup, REALTORS®

Mitch Edwards

M. Edwards, REALTORS®

Rapattoni’s NetMagic Association Management Software offers an online system for the association to better manage Lela Tackitt membership records and member history. It will also give opportunities for online registration for courses and bill pay, P.J. Zaji giving more convenience to staff and members. Stuart Bartley Rapattoni Corporation has been serving the real estate industry under the same name and management for over 42 years. The company provides an array of integrated products and services for real estate associations and MLS organizations, including an internet-based MLS, association management software, Integrated Website Services, and key-less Rapattoni Secure Logon with SSO identity portals for online security and convenience. Rapattoni's MLS products are serving approximately 200,000 users nationally and its association management customers represent more than 85% of the nation's REALTORS®. Rapattoni's headquarters are in Simi Valley, California.

Property Management Class

Kendra Sutherland, REALTORS®

Keller Williams Realty Exit Realty of Lubbock Keller Williams Realty

Kristen Barkley

Keller Williams Realty

Megan Helmstetler

Keller Williams Realty

Neely Keller

The WestMark Companies

Kyle Rogers

The Sellers Realty

Chlo Jones

Coldwell Banker Rick Canup, REALTORS®

Robin Long

Century 21 John Walton, REALTORS®

Leanne Wright

Keller Williams Realty

Membership Cancellations Frank Morrison

Keller Williams Realty

Joe Hutson Egenbacher Real Estate Date: Wed, August 21 Location: LAR Office Heather Sanderson Keller Williams Realty Time: 10—11:00 AM Callie Myers Rush, REALTORS® Cost: Free This one hour course will discuss fair Justin Cloud Prudential Real Estate Anderson Properties housing issues, and how they affect Rex Driver The WestMark Companies property managers, tenants, and prospective tenants. Those that attend will earn one hour of MCE credit. No preregistration required. The association will host a property management one hour course every quarter. Course dates and topics will be posted on the Navica calendar. No credit can be given to late arrivals.

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Slate of Officers and Directors Announced The 2013 Nominating Committee presented the slate of officers and directors for election on September 19, 2013 at the August Board of Directors meeting. Nominations for these positions were sent in to the association through June and July and the committee interviewed over twenty qualified individuals.

REALTORS® on the Move Linda Boydstun

Keller Williams Realty to Kearney & Associates, REALTORS®

Lana Snyder

McDougal, REALTORS® to Prudential Real Estate Anderson Properties

Jacob Goertzen

Exit Realty to Texas Sky Realty

Other Changes

This year’s committee was chaired by Mark Nanny of Coldwell Mary McKay Banker Rick Canup, REALTORS®. The other committee members Shoukfeh Real Estate were: Sue Keveryn – McDougal, REALTORS® Bobby McQueen – McQueen Company, REALTORS® Michelle Elliott Tim Paden – The WestMark Companies Jim Rosson – RE/MAX Lubbock SuzAnne Scott – Real Living Greg Garrett, REALTORS® Lisa Sellers – The Sellers Realty

Name changed to Mary Beadles Name changed to Elite Real Estate Partners Reinstated membership with Keller Williams Realty

2014 Officers  President – Nancy Rawls, RE/MAX Lubbock (ascends automatically as per Bylaws)  President Elect – Rusty DeLoach, RE/MAX Lubbock  Treasurer – Charles Kearney, Kearney & Associates, REALTORS®  Secretary – Jef Conn, Coldwell Banker Rick Canup, REALTORS® 2014 – 2015 DIRECTORS (Six (6) will be elected by plurality vote): 1. Leigh Anne Brozo – The WestMark Companies 2. Lisa Carswell – Keller Williams Realty 3. Mary Ann Grafft – RE/MAX Lubbock 4. Howard Halford – The WestMark Companies 5. Ken Harlan – The WestMark Companies 6. Larry Jones – Larry Jones Real Estate 7. Nathan Jordan – Century 21 John Walton, REALTORS® 8. Tara Newton – Keller Williams Realty 9. Jeff Sellers – The Sellers Realty 10. Susan Shakespeare – The WestMark Companies 11. Rachel Townsley – Keller Williams Realty 12. Leigh Anne Wikle – Keller Williams Realty About additional candidates for election. Additional candidates for the offices to be filled may be placed in nomination by a petition signed by at least ten percent (10%) of the REALTOR® membership. The petition must show the candidate’s willingness to serve and a statement stating this on the petition and must be signed by the candidate. The candidate must qualify according to the qualifications criteria specified in Article XI, Section 4(f) 1, 2, 3, 4, and (g) of the Lubbock Association of REALTORS® bylaws. The petition shall be filed with the Association Executive at least ten (10) days before the election (September 19, 2013). The Association Executive will send notice of such additional nominations to all REALTOR® members at least forty-eight (48) hours before the election. No write-in candidates will be permitted and no nominations accepted from the floor. Early voting will begin September 13, 2013 and members will have the option to vote on-line within Navica.

Changes Coming to Realtor.com A special called meeting of the Board of Directors of the National Association of REALTORS® was held on July 24th in Chicago. Much of the discussion at the meeting focused on the Operating Agreement between the REALTORS® Information Network (RIN) and RealSelect, Inc., now known as Move, Inc. RealSelect acquired the rights to operate the Realtor.com asset after a special called meeting of the NAR board on August 26, 1996. Negotiations led to formalizing an agreement on November 26, 1996, which produced what is commonly known as the “thousand page agreement.” Page 3


Among some of the restrictions placed on RealSelect (Homestore) were:     

No For Sale by Owner properties may ever appear on REALTOR.com. NAR remains the sole owner of the REALTOR.com site and trademark. The use and presentation of property listings remain under the control of NAR. Homestore cannot market any property data or information derived from the data without NAR approval. Advertising on REALTOR.com is strictly controlled. For example, no REALTOR® detailed listing will ever contain a banner from a competitor. Advertisers are limited on the amount of space they can occupy on the site at any given time.  NAR must approve changes to the design or text of the REALTOR.com home page.  Homestore must conduct all of its real estate related business in Real Select, where NAR has substantial control. Should Homestore ever be acquired by a real estate related entity, RIN has the ability to terminate its agreement for the operation of REALTOR.com.

Concern was expressed by the Board of Directors in May at the Mid-Year meetings about the fact that REALTOR.com continues to fall in the Internet home site rankings, currently third behind Zillow and Trulia. For many years, REALTOR.com sat at the top of the Internet home search sites, and outlasted attempts from Google, Microsoft, AOL and others to enter the home search market. The result of the meeting was that the directors made changes in hopes that REALTOR.com would again be the first, best online destination for home buyers and sellers. The board voted in favor of recommendations to modify an existing operating agreement that will help the site compete more effectively in the ever changing online marketplace. "Over the years, REALTORS® have invested a lot of time and millions of dollars in building information technology to give consumers online access to real estate information, and we know that consumer demand for all things 'home' has never been greater," said NAR President Gary Thomas, broker-owner of Evergreen Realty in Villa Park, Calif. "As the most trusted resources for real estate information, REALTORS® want REALTOR.com to have the resources and flexibility it needs to give consumers what they want while ensuring that today's buyers and sellers can continue to rely on REALTORS® for the most accurate, credible market data. We think the proposed changes achieve both goals." The operating agreement is between NAR subsidiary REALTORS® Information Network and Move, Inc. subsidiary RealSelect, Inc. The RIN board sought advice from NAR's BOD because any changes to REALTOR.com could have a substantial impact on NAR's members. The RIN board met immediately after the NAR BOD meeting, and approved the final recommendations. "When today's consumer is searching for their dream home, they are utilizing more tools and information than ever before," said REALTOR.com President Errol Samuelson, Chief Strategy Officer for Move, Inc. "Today's historic and collaborative recommendation from the NAR board members empowers us to further expand and enrich the consumer experience on REALTOR.com and its mobile applications with greater breadth of content, and to do so with our continuing commitment to the highest level of quality and accuracy for both the real estate community and consumers." The proposal recommended by NAR's BOD gives REALTOR.com more flexibility to identify listings from sources beyond those provided by REALTORS®. That includes additional new homes and rental properties. Currently, Zillow and Trulia have more than ten times the number of new homes and rental properties on their site. Naturally, buyers would gravitate towards those sites when considering purchasing a new home. Initially, new homes that were not listed by REALTORS® were not displayed at REALTOR.com. There will not be any For Sale By Owner (FSBO) properties displayed on the site. REALTOR.com will continue to reinforce the value of using a REALTOR® when buying, selling or investing in real estate, and will give consumers tools to differentiate between REALTORS® and real estate licensees. While this is not an apparent issue for Lubbock, it is important to communicate this difference to the public so that they understand REALTORS® are their trusted advocate in real estate transactions. "We want consumers to be able to envision their American dreams of homeownership online and then make those dreams a reality in the offline world," said Thomas. "Working together, REALTOR.com and REALTORS® are making home happen." Move is hosting their Q2 earnings call on August 1 at 2 p.m. Pacific Daylight Time and will discuss the outcomes of the NAR meeting in more detail on this call. To access the call, please dial 866-652-5200, or outside the U.S. 412-317-6060, five minutes before 2:00 p.m. Pacific Daylight Time. A live webcast of the call will also be available at http:// investor.move.com under the “Events & Presentations” menu.

Free Resources from REALTOR.com The site offers a free listing presentation that can be displayed or printed and is even available for iPad. You can incorporate it into your existing listing presentation, even corporate ones.

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Supra eKEY App Update Supra recently released an update to the eKEY app. For some users, it may be displaying “CBS Code” on the same screen as the PIN code. CBS code stands for “Call Before Showing.” This is a security setting that is available on Supra key boxes, but rarely, if ever, has been used locally. You can configure your eKEY to not display this by going to “Settings” on the second page of the app and change “Enable CBS Input” to OFF. You will no longer see “CBS Code” on the “Obtain Key” screen. If you have questions, contact Tino Vela at the LAR at 795-9533.

When a Low Listing Price Can Actually Cause Problems Can a seller's agent list a property in the MLS for less than what the seller owes, even though the seller can't accept full-price offers because he isn't able to cover the difference between the full-price offer and the amount he owes? There are several factors to consider in this situation. First of all, REALTORS® are obligated to abide by Article 12 of the Code of Ethics, which requires REALTORS® to be honest and truthful in their communications and to at all times present a true picture in their advertisements. A REALTOR® could be found to be in violation of the code if he or she advertises a listing price in the MLS with the full knowledge and understanding that the seller is unable to accept offers at that price. Also, be aware that according to the LAR’s MLS Rules and Regulations, notice of a potential short sale must be put in the listing details.

zipFormTM Plus—A Better, Smart Transaction Platform Good news from zipForm! On Aug. 21, you'll have the option to use the new zipForm Plus, which is an updated and improved version of zipForm Professional.

In addition, you should note that the seller agreed to sell the property for the price stated in the listing agreement. Technically, even if a buyer presents an offer for the listing price as advertised in the MLS and the seller refuses or is unable to accept the offer because the seller cannot cover the difference, the listing broker's fee has been earned and is payable. Get answers to more than 430 Legal FAQs at TexasRealtors.com.

What's improved? ZipForm Plus doesn't use Java, so no more problems with Java updates and other software plug-ins.  The updated form viewer loads forms faster (assuming a high speed internet connection)  New search bars for transactions, contacts, and forms give real-time results.  Customized email signatures are available and once saved are included with each email sent from zipForm Plus.  You can add photos to your transactions, contacts, and profiles. What does it cost? It's included in your Texas Association of REALTORS® dues. There is no additional cost. If I don't like it, can I go back to zipForm Professional? Yes. There will be a button that enables you to change between zipForm Plus and zipForm Professional at any time. How does this affect my current transactions, zipVault, or Digital Ink? It doesn't. Your data remains the same, and zipForm Plus integrates seamlessly with zipVault and Digital Ink. Where can I learn more? Check out this PDF that explains the new features of zipForm Plus and includes screen shots. And you can find more resources and information about zipForm Plus training exclusively for Texas REALTORS® at TexasRealtors.com/zipForm. Page 5


2013 Texas Real Estate Political Action Committee (TREPAC) Investors—Levels Reached as of July 10 Crystal R ($2,500) Jeff Sellers Sterling R ($1,000) Brad Elder Coby Crump Cade Fowler Tim Grissom Renessa Knowles Tony Lloyd Tara Newton Nancy Rawls Capital Club ($500) Karleen Boyd Rusty DeLoach Vanessa Dirks Bill deTournillon Norma Edwards Linda Ferguson Kyle Forster Mary Ann Grafft Steve Gwinn Charlie Kearney Larry Jones Greg Luman Josh Putman Winn Sikes Pam Titzell John Walton Jon Willey Lone Star Statesmen ($250) Brian Aycock Stephen Bearden Joe Bellar Sandra Blocker Bob Brandt Jef Conn Kathy Davis

Lone Star Statesmen ($250) continued Kelley Elliott Clay Enger Kent Gamble Greg Garrett Ella Glover Stephanie Henderson Gary Henry Jay Herrin Michael Huff Joe Humphreys David Jeter Tom Jones Brooke Lair Kathy Marable Chase Marberry Gene McGuire Tim Minnix

Chris Raney

Rod Reynolds Debora Perez-Ruiz Susan Shakespeare Shari Straley Scott Toman

110 Club ($110) Andrew Albares Andy Anderson Tricia Anderson Cynthia Arriaga Wayne Backus Carol Bishop Brian Blackwell Leigh Anne Brozo June Burks Lisa Carswell Danny Clark Bobbe Crawford Joy Daniel Lori Daniel Rich Eberhardt Don Enger Andy Ellis Phoebe Ellis

110 Club ($110) - continued Darlene Fillman Rick Fowler Teresa Franco Linda Gaither Paul Garrett Tim Garrett Alison Gaut Ken Harlan Frank Harmon David Haymes Tyler Haynes Brent Hodges Jackie Howell Larry Leivas Russell McGuire Mark McMillan Velma Medina Joe L. Murfee, III Gayle Ninemire Gary Owen Lisa Pearce Emily Ratcliff Ginger Robertson Bert Rogers Liz Smart Leslie Smith Melissa Smith Beverly Sowell Johnny Stringer Jack Strong Liz Tilson Rachel Townsley Dan Williams Tammi Wood Jana Wuthrich

Invest online at www.texasrealtors.com Year-to-Date Investments $55,665 Year-to-Date Participation 50%

Thank You Investors!

As REALTORS® and private property owners, you know the value of protecting the real estate industry. That’s why TREPAC is so important. Not only is it an insurance policy on your career, but it makes you the ultimate advocate for your clients, friends and family. Every legislative session, TREPAC fights to protect the interests of home owners a the local, state, and national level including protecting homeowner’s equity, requiring the licensing of mortgage brokers for consumer protection and stopping additional taxes on the sale of real property. For every TREPAC event you attend, like our golf tournament or the July 26th Bingo Night, your participation goes towards your overall TREPAC investment. So invest today and not only will you save money by defeating more pesky fees, but you also show your clients another reason why using a REALTOR® is so important. Page 6

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