R E A LTOR
Official publication for the Greater Capital Area Assocation of REALTORS®
GCAAR WINNERS - page 6
REALTOR® of the Year
ROOKIE of the Year
CAPITAL AREA REALTOR® • May/Jun 2014
R E ALTOR
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F O U R L O C AT I O N S S E R V I N G T H E M E T R O D C , M D & VA A R E A Tysons Corner Virginia
North Bethesda Maryland
This communication is not directed at anyone under a contractual obligation.
Silver Spring Maryland
Efficiency Upgrades – page 4
MAR Elections – page 12
REALTOR® Fest 2014 – page 14
A Fond Farewell – page 15
in every issue
Family Fun Day and Picnic
Ask the President
NAR Director’s Report
Unlock the Value of Home Efficiency Upgrades
REALTOR® and Rookie of the Year
2015 GCAAR Annual Dues
Meet Your GCAAR Committees
Quiz: What Do You Know About Prospecting?
GCAAR Members Elected to Officer Positions at MAR Elections
REALTOR® Fest Highlights
GCAAR Bids Fond Farewell to Sandy Hargis
21 Technology 22 RPAC 23
26 MRIS 27
Executive Intranet and FREE Resources
Transaction and Document Management Automated Marketing System Customer Service Team Marketing Service Associates Online Training Center
Capital Area REALTOR® (USPS 017-467) is published five times a year by the Greater Capital Area Association of REALTORS®, 15201 Diamondback Drive, Suite 100, Rockville, MD 20850. Periodicals postage paid at Rockville, MD. Member subscriptions account for $10 of each member’s annual dues. Annual subscriptions are available to non-members for $25. Subscription inquiries may be sent to Capital Area REALTOR® at the above address. POSTMASTER: Send address changes to Capital Area REALTOR®, ATTN: GCAAR, 15201 Diamondback Drive, Suite 100, Rockville, MD 20850. The Greater Capital Area Association of REALTORS® makes no warranties and assumes no responsibility for the accuracy of the information contained herein. The opinions expressed herein do not necessarily reflect the opinion of the officers, directors, or staff of the Greater Capital Area Association of REALTORS®. The Greater Capital Area Association of REALTORS® accepts submissions of articles and photographs and the items become the property of the Greater Capital Area Association of REALTORS®. The publisher reserves the right of full editorial authority and to decline publication of any article not deemed proper. Deadline for submissions, including camera-ready advertising, is the first of the month prior to publication. Reprint with permission only. Reprints may be obtained by contacting the Greater Capital Area Association of REALTORS® at 301.590.2000; via fax at 301.590.2248; or send an e-mail to firstname.lastname@example.org. REALTOR® is a registered collective membership mark that identifies and may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its Code of Ethics. Copyright© 2014 by the Greater Capital Area Association of REALTORS®.
CAPITAL AREA REALTOR® • May/Jun 2014
All rights reserved.
15201 Diamondback Drive, Suite 100 • Rockville MD 20850 Phone: 301.590.2000 • Fax: 301.590.2248 • www.gcaar.com Follow us on Facebook: facebook.com/GCAAR2 Follow us on Twitter@GCAARNow Follow us on LinkedIn/in/GCAAR
CAPITAL AREA REALTOR® • May/Jun 2014
board of directors
ask the president Q: I used to love going to Rookie events – why did you get rid of them?
Greg Ford PRESIDENT
Suzanne Des Marais PRESIDENT-ELECT
Peg Mancuso SECRETARY
Tim Knobloch TREASURER
A: Thank you for your question - we love to receive feedback on our
events. It’s good to know that we are offering something you find of value. Rest assured, we have not done away with the free, members-only, nonCE, professional development sessions - we just renamed them. We found that both experienced as well as new agents were attending our “Rookie” events. Even some managers were coming to gather information and ideas they could bring back to their offices. As the series was drawing both the veterans as well as the Rookies, we changed the name to the Professional Enrichment Series. It’s still for GCAAR members only, and it’s still free. Check out the full fall calendar of offerings at gcaar.com and click on Classes/Events. Don’t forget to register ahead of time so we know you are coming!
GCAAR happenings GCAAR Hosts First Annual Family Fun Day and Picnic GCAAR members and their families did not let a little “liquid sunshine” stop them from enjoying the first annual Family Fun Day and Picnic at Smokey Glen Farm on August 12. Attendees enjoyed delicious barbecue chicken and roast beef, yummy sides and desserts, while they danced, hula hooped, did the limbo, and played board and outdoor games. A good time was had by all! Picnic attendees enjoy the day.
Q: The Maryland State government is making it harder and harder for
REALTORS® to do business in this state! Why don’t the REALTOR® associations do anything about it?
A: Thank you for your question. GCAAR members work in two of the Michael McGreevy IMMEDIATE PAST PRESIDENT
Michael Moran CHIEF EXECUTIVE OFFICER
directors Koki Adasi David Bediz Thom Brockett Jamie Coley Tom Daley Dorie Glass
Jacque Grenning Sally Hamidi Gwen Henderson Vicky Lobos-Kirker Hildy Pollard Pat Weed
Capital Area REALTOR® Magazine
Bobette Banks MANAGING EDITOR
Arlene Braithwaite ADVERTISING REPRESENTATIVE
Deborah Bell ASSOCIATE EDITOR
Carla Conway DESIGN & LAYOUT
CAPITAL AREA REALTOR® • Sept/Oct 2014
most regulated jurisdictions in the country. There are a lot of rules, laws, and regulations dictating how we do business, and there are changes every year. On all three levels of the REALTOR® associations – local, state, and federal - we advocate on your behalf for real estate-friendly laws and regulations. Sometimes we win, sometimes we lose, but we are always in the game, working for you.
Hula hoops, limbo, and line dancing!
This year alone we had several victories in Maryland, including lowering the mandated interest rate on rental security deposits, eliminating strict liability for landlords in cases involving pit bulls owned by tenants, and unifying the state’s estate tax credit with that of the federal government. Lobbying is a primary pillar of all REALTOR® associations’ missions. While it’s often less top of mind than fulfilling your CE class requirements or replacing the batteries in your lockbox that just died, political advocacy is critically important to the future of our business. For more information about our efforts, I encourage you to check out the public policy section of this magazine, read GCAAR’s biweekly “Real Advocacy” e-newsletter, or visit gcaar.com and click on the News/Legislative tab.
2010 GCAAR President Shelly Murray with GCAAR member Harold Huggins.
A few drops of rain didn’t stop a game of miniature golf!
CAPITAL AREA REALTOR® • Sept/Oct 2014
Unlock the Value of Home Efficiency Upgrades
By John Jabara, Founder, Savenia Energy-efficient homes are growing in popularity. Sellers want to market their upgrades to buyers looking for homes that can save energy and money. Tools for REALTORS®, developed by Savenia, detail home efficiency upgrades that can help connect sellers and buyers and provide an edge in the market place.
Efficiency Upgrades Soar With continued utility incentives, tougher government efficiency standards and rising public awareness - millions of homeowners are installing efficiency upgrades. By 2018 some 60% of homes for sale will contain at least one “promotable” efficiency upgrade – upgrades that are more efficient, save money, and cost more to buy than those in the average house.
REALTORS® Marketing “Efficiency” Many REALTORS® now market efficiency upgrades in their listings. Up to 10% of listings mention key words like tankless water heater, solar, high-efficiency HVAC, low-e windows, Energy Star appliances, and others. As more buyers look for these features, this will continue to grow.
Buyers Interested A large study from the National Association of Home Builders shows home buyers are highly interested in saving money on utilities. Some of the most wanted features involve saving energy, for example – Energy Star-rated appliances and windows, etc. Buyers will pay $7,000 more upfront for every $1,000 they save per year, and most want to see projected home operating costs before they buy. For buyers – this means money from utility savings and pride from a reduced environmental footprint.
Home Prices Respond Several groundbreaking studies analyzing real estate transactions show that efficient homes that are green rated sell for a premium (+9%) and have lower mortgage default risks. Homes with solar panels sell for premium prices, while green rated rental and commercial buildings are also securing higher rents.
Whole Home Vs. System-by-System Upgrades Much of the focus has been on whole home retrofits, while most sellers have done only a few improvements over the years. Savenia has developed the tools to help home sellers capture the value of individual upgrades. Not surprisingly, solar tops the list by making money for homebuyers in most states, but can also generate tens of thousands in
savings or more. This is in addition to the market value of the panels on the roof. Newer, purchased systems often generate more for the buyer, but leased systems contain plenty of value with positive cash flow and environmental benefits. After solar, valuable savings can come from many common home efficiency upgrades, and when cost savings are added to the premium price to purchase these systems, the numbers get very big indeed (see Figure 1). FIGUR E 1
Efficiency Value by Upgrade vs. Average Home – 15 Years Source: Savenia Labs 2014 System Type Solar PV Systems HVAC/Building Shell High Efficiency HVAC, Well Insulated Water Heater Tankless, Solar, High Efficiency Gas, Heat Pump Electric
Savings / Earnings Up to $50,000+
Installation Value $20,000+
Up to $10,000+
$2,000 - $5,000+
Up to $8,000
$1,000 - $15,000
LED/CFL Up to $8,000 3 Years Old, Energy Star Up to $2,000
$500 - $2,000 $2,000 - $20,000
How to Start—
Here is a list of suggestions that can help you highlight the efficiency upgrades in your listings, differentiate your service, sell faster and capture more value. WALK THROUGH
GCAAR Cares Committee member Marlene Trimble (far left) checks out the plethora of donations at the Silent Auction table.
5th Annual GCAAR Cares Silent Auction A Big Win
- Look for newer (<3 years) appliances and LED/
CFL lighting during the walk-through – and ask about any high-efficiency upgrades, rating labels.
LISTING PRESENTATION - Mention at the listing presentation that you
Success! That’s the word to describe this year’s 5th Annual GCAAR Cares Silent Auction held at REALTOR® Fest! On Tuesday, July 22, GCAAR Cares displayed nearly 60 auction items, raising more than $7,400! This year’s prize drawing of $200 worth of scratch-off lottery tickets and a bottle of wine brought in over $1,000! As always, GCAAR Cares member and Silent Auction Subcommittee Chair, Dina Paxenos, did a fabulous job organizing the event, choosing a fun fiesta theme.
can promote the key efficiency upgrades where the homeowner has made investments. Incorporating these into key words and materials gets buyer attention.
- Ask the homeowner to list recent efficiency upgrades including the year installed and cost. This information is helpful for potential buyers. Savenia provides a checklist that can help you get started here (http://goo.gl/fFe9be). DOCUMENTATION
PRE-SALE PREPARATION - During touch-up work and general repairs,
consider low cost upgrades to LED / CFL lighting, effective even in older homes to save money for the new buyer. MARKETING MATERIALS - Point out the efficiency upgrades in market-
ing materials. Use real numbers where possible to show long-term savings, earnings, and installation value. Make it clear that these should be pointed out during showings.
ABOUT SAVENIA Savenia helps REALTORS® and homeowners unlock the value of home efficiency upgrades. Savenia provides home sellers with customized Home Rating Labels, marketing materials and online marketing to sell faster, provide higher client service, and capture the full value of homes for sale.
GCAAR Cares member and Silent Auction Subcommittee Chair, Dina Paxenos, was also a prize winner at the main REALTOR® Fest drawing.
Interested in donating blood? Please send your name, phone number, and the time you want to donate to Deborah Bell at DBell@gcaar.com. All donors must be pre-registered.
www.saveniahome.com – 1-855-SAVENIA
CAPITAL AREA REALTOR® • Sept/Oct 2014
SAVE A LIFE. DONATE BLOOD.
Thanks to everyone, particularly our GCAAR Cares Committee, members, donors, and staff, for making this year’s silent auction a wonderful event and great success.
BLOOD DRIVE MONDAY,
November 3, 2014 10AM - 3:30PM
GCAAR Classroom in Rockville CAPITAL AREA REALTOR® • Sept/Oct 2014
GCAAR news 2014 GCAAR REALTOR® OF THE YEAR
2014 GCAAR ROOKIE OF THE YEAR
Michael McGreevy Named REALTOR® of the Year
CJ Rader Captures the Top Rookie Spot
GCAAR is pleased to name Michael McGreevy as its REALTOR® of the Year for 2014. Licensed since 1985, Michael is currently a manager with Long & Foster Real Estate for the two top-producing offices – Silver Spring Downtown and College Park, and co-manages the Potomac Cabin John office. During Michael’s tenure at Long & Foster Real Estate, he has earned “Manager of the Year” awards consecutively since 2006.
GCAAR is pleased to announce CJ Rader as its 2014 Rookie of the Year. CJ is an agent with Long & Foster REALTORS® in Silver Spring, MD., and has been a REALTOR® since 2012. CJ was named as one of REALTOR® Magazine’s 30 Under 30 for 2014. CJ is active both professionally and in the community. In addition to being a member of GCAAR’s Events Committee, she organized the annual community service day where her entire office volunteered at DC Central Kitchen, preparing food for the homeless and families in need. She also participates in GCAAR’s annual Rebuilding Together® project and Long & Foster’s Toys for Tots campaign.
Michael is a native Montgomery County Resident and currently resides in Silver Spring, MD. As a graduate of GCAAR’s Inaugural Leadership Institute in 2005, Michael continues to serve and contribute to the GCAAR membership. He also serves as a director for the Maryland Association of REALTORS® (MAR) and the National Association of REALTORS® (NAR). In December of 2013, Michael was installed as a Board member for the District of Columbia Association of REALTORS® (DCAR). Michael was GCAAR’s 2013 President, and has served on several GCAAR committees, including the Budget, Executive, Ethics, Grievance, Professional Standards, Rookie, and YPN committees. Michael is active in his community as well, chairing a United Way Campaign to raise funds to serve Montgomery County’s at-risk youth. He also Co-Chaired Montgomery County Government’s Commission on Children & Youth, and has volunteered for (and continues to do so with) Food & Friends, Habitat for Humanity, Whitman Walker’s Annual AIDS Walk, Silver Spring’s Shepherd’s Table, Mental Health Association of Montgomery County, Rebuilding Together®, Special Olympics, Hispanic Heritage Foundation, CASA, and The National Center for Children and Families. “Michael is a make it happen kind of leader,” says, Koki Adasi, Associate Broker in Long & Foster’s Silver Spring office. “He provides a very easy and healthy environment for agents to work in, and is willing to reach deep into his decades of experience to help in a situation. He has demonstrated to me through his own actions the importance of being a part of my local association.”
CAPITAL AREA REALTOR® • Sept/Oct 2014
2015 GCAAR Annual Dues Deadline: Sunday, November 30, 2014 Be on the lookout Your 2015 GCAAR Annual Dues invoice was posted online at www.gcaar.com. Unlike MRIS, GCAAR does not keep credit card account information on file; all payment account details must be submitted each billing cycle. GCAAR accepts all major credit cards (American Express, Discover, MasterCard, and Visa), personal/corporate checks, and money orders. We do not accept cash payments for dues.
Payment options include: • PAY ONLINE – Paying with
a credit/debit card online at gcaar.com, where your invoice may be viewed, printed, and paid using our secure online payment system. You will receive an instant e-mail receipt if payment attempt is successful.
Originally from Neenah, Wisconsin, CJ moved to DC to attend American University in 2003. In 2010, CJ enlisted Koki Adasi as her REALTOR® to help her achieve her dream of home ownership. She enjoyed the home-buying process so much that she decided to follow her passion for real estate and join Koki’s team at Long & Foster. Since 2012, CJ has become a top producer in the downtown Silver Spring office and in 2013 she and Koki were named Long & Foster’s Overall Top Team for the Montgomery County Region.
• FAX – Faxing a credit/debit card payment directly to our
CJ and her husband Matt were married this year in her Wisconsin home town. They live in NE, Washington, DC and enjoy taking advantage of all the new restaurants and developments in the area. They also enjoy traveling, walking with their dog Inky, and keeping up with their DC rental property.
Please note: In March 2014, GCAAR closed its Silver Spring office and moved to the above address. If your corporate office
“CJ is an outstanding REALTOR®. During my four month-long search, CJ remained personable and professional in what otherwise might have been a frustrating situation. When I lost out on a few properties she suggested a new strategy that ultimately resulted in me closing on my dream home this month. I could not have asked for a better REALTOR® than CJ to represent my interests,” said Justin Kafka, one of her clients.”
Accounting Department at: 301.296.2188 Please provide a contact number and email address, along with payment.
• MAIL – Mailing payment to our Rockville location below: GCAAR Attn: Annual Dues 15201 Diamondback Drive, Suite 100 Rockville, MD 20850
is mailing a check on your behalf, please confirm that they have updated their system with our new address above.)
• PAY IN PERSON – Paying in person at either of our office locations (Rockville or Washington, DC) by close of business on Wednesday, November 26. Please consult our website for hours of operation. (Our Rockville location is open most Saturdays to provide service to our members.)
GCAAR does not take payments over the phone. Payments postmarked on or before November 30, 2014, and received after this date, will not be considered timely. The easiest, quickest, and most secure way to pay your dues is online at gcaar.com. As of December 1, 2014, all outstanding accounts will incur a $25 late fee. If payment is not received by December 31, 2014, a $150 reinstatement fee will be placed on outstanding accounts. At that time, membership privileges, including SentriLock card services, will be suspended until full payment is received.
Please contact our Accounting Department at 301.590.8781 or at email@example.com.
• PAY M E N T M U ST B E R EC E I V E D BY N OV E M B E R 3 0, 2 01 4 •
GCAAR in the news DC Area Sees More Homes Than Buyers
Good Credit 101
The Washington Post Express June 18, 2014
WTOP Radio September 15, 2014
“Contracts may be down, but there are a lot of properties on the market, according to data from the Greater Capital Area Association of REALTORS®.”
D.C. Developers Take Townhomes to New Heights
GCAAR President Greg Ford and Board Member Tom Daley featured
The Washington Post June 22, 2014
“That’s well below what it should be. It should be six months — that’s what the industry tells us is a stable market for both the buyer and seller.” —Tom Daley, GCAAR Board Member
CAPITALAREA AREAREALTOR REALTOR® ®•• Sept/Oct May/Jun 2014 CAPITAL 2014
director’s report Michael McGreevy
2014 Immediate Past President, NAR Director Secure your “Dot REALTOR®” Web Address – October 23, 2014
Today most website addresses that end with the domain extension .com, 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? New domains will allow consumers to search the Internet in an entirely new way, and NAR is here to help you get in on the action. NAR has secured the new .REALTOR domain. Only REALTORS® can use .REALTOR domains, making it the clearest way to show consumers you are a member of NAR, you adhere to a higher standard of ethics, and you are a source they can trust. Claim your .REALTOR® domain beginning October 23, 2014 by creating an account at www.claim.REALTOR. The first 500,000 members to register will receive a free .REALTOR domain for one year. For more information, visit www.about.REALTOR.
“Real People” Advertising Campaign
In July, NAR launched a new advertising campaign, “Real People,” targeting the new generation of home buyers entering the real estate market. The campaign is a part of NAR’s $35 million annual advertising effort and includes a comprehensive public relations effort, “Real Insight.” realtor.com® is concurrently running a multimillion dollar advertising campaign, “Accuracy Matters,” emphasizing that realtor.com® provides the most accurate, up-todate and comprehensive real estate listings and content available online. Together, these efforts will showcase the value of local knowledge and accurate data available to consumers through REALTORS® and realtor.com®.
In Full Swing – 2014 REALTORS® Conference & Expo – November 7 - 10, New Orleans
100 education sessions. 400 exhibitors. 17,000 REALTORS® and guests. NAR’s annual convention is the largest gathering of REALTORS® nationwide. It’s a chance to learn from the best in the business, swap ideas with colleagues here in the U.S. and internationally, and renew your energy and excitement about our amazing profession. For international attendees, the REALTORS® Conference & Expo includes 100 education seminars (some with translations), 400 exhibitors and special events like the International Night Out & Awards Ceremony. Also, attendees can meet real estate
CAPITAL AREA 20142014 CAPITAL AREAREALTOR REALTOR® ®• •May/Jun Sept/Oct
NOV 7-10, 2014
“As someone new to real estate, I found the conference to be
very informative. I attended numerous educational sessions that gave me tools to assist in building my business, including tips on maximizing my profit margin, effective marketing strategies to grow my business, and more. I look forward to attending the 2014 REALTORS® Conference & Expo in New Orleans.” – Melia Downey, Sunny Mountain Realty, Pine, AZ
“The REALTORS® Conference & Expo is the best conference in
the world for real estate agents, regardless of whether you are in sales, property management, or have your own real estate business. I have been attending every year for the past 10 years, and it is now the only conference I will attend. I travel all the way from Australia and find great value. It’s invaluable to my business and me, and, in turn, my team and clients.” – Jo-Anne Oliveri, ireviloution intelligence and International PropertyManagement Academy, Brisbane, Australia If you haven’t ever been to an NAR conference, this is the year to go. Join us in the Big Easy! For more information and to register, visit realtor.org.
You’re probably getting listings, but you could do more. Review REALTOR® Magazine’s Online Prospecting Tool Kit.
TRUE OR FALSE
professionals from more than 60 countries in the International Networking Lounge, and see properties from around the world at the International 2nd Home & Resort Pavilion.
Attendees love it
What Do You Know About Prospecting? Q.1
Salespeople should prospect only when times are slow. m True m False
It’s OK to tell prospects you have a buyer for a certain type of house even if you don’t have such a client. m True m False
One out of every five FSBOs eventually uses a real estate professional to sell their homes. m True m False
You can call your past clients for up to two years after the last transaction. m True m False
You can call a FSBO seller whose number is listed in the National Do-Not-Call Registry in an attempt to obtain the listing. m True m False
Home builders often sell the homes they build themselves, so they seldom are a good source of business for the salesperson. m True m False
Using codes to track the effectiveness of your prospecting efforts is the best way to determine which methods are most effective. m True m False
Salespeople should stick to only one form of prospecting so that they can track the effectiveness of the method more easily. m True m False
Correct answers on page 21
® ® • May/Jun 2014 CAPITAL AREA REALTOR CAPITAL AREA REALTOR • Sept/Oct 2014
meet your GCAAR committees Meet Your GCAAR Committee: Education The Education Committee’s mission is to provide members with the resources, education and training necessary to advance the careers of REALTORS®. The Committee researches and recommends which designation courses to offer and suggests topics, speakers, and sponsors for non-CE classes, including green trends, rookie education, and manager/broker forums. The committee meets monthly.
SentriSmartTM Mobile App Now Available Now access a lockbox key compartment with the use of a mobile access code instead of a SentriCard®. You can get automatic listing assignments, instant showing notifications, and SentriCard® renewal codes via your smartphone and/or tablet. The cost? It’s FREE to GCAAR REALTOR® members! Visit the SentriLock section of gcaar.com , under the Tool Kit for more information.
Prevent SentriCard® Service Interruption GCAAR would like to remind brokers and agents to not provide your SentriCard® or PIN number to another agent, assistant, family member, etc. If a customer service representative becomes aware that your card is in possession of an “invalid cardholder,” your SentriCard® will be terminated, immediately. Your card will not be reactivated until you visit a GCAAR office with a valid photo ID. This policy has been implemented as a security feature. For SentriLock rules and regulations, please visit our website at gcaar.com.
Ann Johnston, Chair Leslie Dembinski, Vice Chair Jamica Browne Larry Calvert Bruce Cotting Thomas Daley Philip Dickson Gregory Flynn Dorie Glass
Dana Hill Vimal Kapoor Victoria Lobos-Kirker Moquit Malik Barbara Maloney Jill Michaels Robert Moses Chad Older Victoria Poe
Linda Robinson Majorie Rosner William Rozek Stacey Sauter Lili Sheeline Sandra Sugar Shahnaz Tehraniazad
Meet Your GCAAR Committee: Communications One of GCAAR’s greatest challenges is cutting through communication clutter. The Communications Committee figures out the best way to let you know what you need to know. They also review, recommend, and contribute editorial content for print and online communications. The committee meets monthly, usually with an August break.
Danai Mattison, Chair Joy Liberti, Vice Chair Hildy Pollard, Board liaison James Cieplenski
Tina Del Casale Jerri Jones Matthew Murton William Stein
In-Store Sale November 2014
While supplies last, all REALTOR® logo apparel will be 25% off during the month of November. Visit one of our two locations for polo shirts, T-shirts, knit jackets, caps, and much more.
CAPITAL AREA REALTOR® • Sept/Oct 2014
L-R: Communications Committee Chair Danai Mattison with 2014 Past President Michael McGreevy (standing in for Joy Liberti). CAPITAL AREA REALTOR® • May/Jun 2014
ADVANTAGES OF AN
GCAAR Members Elected to Officer Positions at MAR Elections GCAAR members and past leaders were elected to officer positions on the Maryland Association of REALTORS® (MAR) Board of Directors at the State Association’s annual conference held in Ocean City, Maryland, September 8 – 10. 2012 GCAAR President Bonnie Casper was installed as President-Elect; 2010 GCAAR President Shelly Murray was installed as Secretary; and former MCAR and MAR President Carole Maclure was installed as Treasurer.
REAL ESTATE NETWORK New MAR Leadership is installed. L-R: President-Elect Bonnie Casper; Treasurer, Carole Maclure; Secretary, Shelly Murray; and Immediate Past President Russ Boyce.
Commission Plans Suited for Professionals! 100% for only $395/month OR 80/20 Split with no monthly fee!
* * PLUS * * We offer all the latest real estate marketing and business tools at Congratulations after the oath is taken.
Shelly, Carole, and Bonnie begin new MAR duties.
Four Locations Serving the Metro DC, MD & VA area
2015 MAR Officers
President-Elect, Bonnie Casper
Treasurer, Carole Maclure
Secretary, Shelly Murray
CAPITAL AREA REALTOR® • Sept/Oct 2014
very honored to represent our REALTOR® associates from all across the state as officers of the Maryland Association of REALTORS®. It’s a great organization and we are grateful for the opportunity to give back to the profession that we all hold so dear. We look forward to serving with President Janice Kirkner and Immediate Past President Russ Boyce,” said the newly-elected officers.
NO ADDITIONAL COST! ***
Tysons Corner, VA North Bethesda, MD
Gaithersburg, MD Silver Spring, MD
What Are You Waiting For? Contact Greg Burns to Schedule a Confidential Interview:
888.444.9964 ext.22 2015 MAR Leadership Team: L-R: 2015 President, Janice Kirkner; Treasurer, Carole Maclure; MAR CEO Mary Antoun, President-Elect, Bonnie Casper. Back Row: Secretary, Shelly Murray; Immediate Past President, Russ Boyce.
www.JoinREXLE.com CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR® • Sept/Oct 2014
REALTOR® Fest GCAAR Attendees came back in full swing GCAAR was back at the North Bethesda Marriott on July 22 for this year’s REALTOR® Fest. NAR’s new Military Relocation Professional (MRP) certification class was added to the line-up as attendees earned their mandatory CE credits for Maryland, DC, and Virginia.
Here are a few highlights: • Sold-out trade show with over 55 vendors • $5600 in prizes awarded • GCAAR CARES Silent Auction with nearly 60 auction items which raised over $7,400
GCAAR news GCAAR Bids Fond Farewell to Sandy Hargis If you’ve been to GCAAR over the past several years, chances are you met Sandra “Sandy” Hargis, GCAAR’s former Executive Service Coordinator. Sandy, who joined GCAAR in 2006, was the “right hand” to CEO Mike Moran, and also served as staff liaison for the Contract and Clause and Property Management Committees. GCAAR members, friends, and staff gathered at Café Deluxe on July 29 to say goodbye to Sandy who retired on August 1. We wish Sandy all the best as she begins an exciting new phase of her life in Myrtle Beach, SC.
Sandy cuts her cake.
Attendees enjoyed a day of education and networking with dynamic instructors, exhibitors, and relevant courses. Sandy with GCAAR Board member Vicky Lobos-Kirker, Past President Bonnie Casper, and Board member Jacque Grenning.
Sandy taking it all in.
GCAAR Installation December 3 save the date v
Wednesday, December 3, 2014 House of Sweden - 2900 K Street, NW, Washington, DC
to all of our sponsors and attendees for their support of this year’s event.
Don’t miss REALTOR® Fest 2015!
Join us at the House of Sweden – 2900 K Street, NW, on Wednesday, December 3, 2014, for the installation of 2015 GCAAR President Suzanne Des Marais and the Board of Directors. Look for details via email and on gcaar.com. v
20142014 CAPITAL AREA AREAREALTOR REALTOR® •® •May/Jun Sept/Oct
We hope to see you there!
CAPITAL AREA REALTOR® • Sept/Oct 2014
by Fred Flick, PhD, Consultant/Housing Economist
MONTGOMERY COUNTY & DC Montgomery County Sales Market
Single-‐Family Lis/ngs and Inventory 7/13 -‐ 7/14
For the month of July, the combined (single-family and condo/ coop) sales market showed a weaker performance than in July of 2013. The total unit sales volume came in at 1,059 properties, but that dropped 17% from a year before. The monthly sold dollar volume totaled $558,709,809, and was down over 17.5% from a year before. The average sold price came in at $527,582, down about $2,000 from last year; but, the median price of $429,000 dropped $6,000 or about 1.5% from a year ago. Properties sold in July turned over more slowly than a year ago. Average days on the market totaled 39 – 4 more than in the previous July.
Condo/Coop Contracts and Se/lements 7/13 -‐ 7/14
July Single-Family Homes
For the first seven months of 2014, year-to-date settlements and contracts were down significantly from a year ago. The July yearto-date single-family settlements (4,790) came in 7% under the same period in 2013; and, year-to-date contracts (5,512) slipped almost 6% from a year before. The direction of the results was similar for the July monthly figures. Indeed, July settlements (843) were more than 16% below a year before; and, new contracts for the month (861) edged down a bit over 1%.
So far, the 2014 single-family sales pace has been down, but price performance is up from last year. In 2013, the year-end average sales price was $573,281, and the median was $460,000. Through July, the average and median prices were $582,550 and $475,000, respectively. These are up 1.6% and 3.3%, respectively, from the 2013 prices. That does not quite make up for the 2014 unit sales drop; but, 2013 was a huge year for prices and some adjustments are to be expected. County Single-‐Family Prices: 2007 -‐ 7/2014
Single-‐Family Contracts and Se4lements 7/13 -‐ 7/14 1200
Moreover, July inventory substantially exceeded most of the levels of 2013. July condo/coop active listings (597) came in 32% above the level of a year before. And, monthly new listings (335) jumped 12% above the July 2013 figure. Nevertheless, at the monthly contract pace there was only a 2-month supply of properties.
Condo/Coop Lis+ngs and Inventory 7/13 -‐ 7/14
properties, declining about 2.8% from a year ago. However, the monthly sold dollar volume of $496,006,385 rose about 1% from the previous July. The average sold price came in at $655,226, up 3.7%; and the median sold price was $530,000, up about 2%. The average days on the market figure came in at 32, and that was down about 9% from a year before.
N D Contracts
J F M Se9lements
On the other hand, the trend of inventory has been upward. At the end of 2013, single-family active listings totaled only 1,330 homes. However, by July there were 2,594 total actives and these were a whopping 38% above the level of a year before. Moreover, the 1,159 property listings for July were 4.5% above those of July 2014. Nevertheless, even with this growth in listings, at the July contracts pace, there was only about a 3-month’s supply of properties.
The The Washington, DC single-family sales market has been a bit soft so far in 2014. July year-to-date settlements (2,362) edged down by slightly over 1%, but July new settlements (387) slipped by over 9% from July 2013. The year-to-date performance of contracts was similar, with a recent slight up-tick. July year-todate contracts (2,592) declined by 1% from a year ago; however, monthly single-family contracts (383) rose by 2.7%.
Single-‐Family Contracts and Se4lements 7/13 -‐ 7/14
July Single-Family Homes
July Condominiums and Cooperatives
The July condominium and cooperative market was also a bit flat compared to a year before. Through July, there were 1,496 settled sales – down almost 6% from a year ago. And, for the month, settlements declined almost 22% to only 217 units. July year-to-date contracts also showed declines. Year-to-date contracts (1,684) dropped 7% from last July; however, the 287 new monthly contracts rose 4.7%. We’ll have to see how August and September work out, as the market could strengthen by the fall.
Compared to the single-family market, the 2014 condo/coop market has shown lagging price appreciation. For 2013, the average price of $269,950 was up almost 7.7% from 2012; and, the median price of $220,000 was 5.6% higher. However, through this July, there has been more demand at the lower end of the market. The average price of $269,335 has slipped about 1%; but, the median of $225,000 edged up 2.3% from 2013.
Washington, DC Sales Market This July, the District of Columbia combined unit sales pace was down substantially compared to a year before. It totaled 757 closed
400 300 200 100 0 J
On the supply side, the District’s July single-family inventory was slightly above the levels of a year before. July total active continued, page 18
CAPITAL AREAREALTOR REALTOR® •® •May/Jun Sept/Oct CAPITAL AREA 20142014
CAPITAL AREAREALTOR REALTOR® •® •Sept/Oct May/Jun 2014 2014 CAPITAL AREA
D.C. Condo/Coop Prices: 2007 -‐ 7/2014
listings totaled 649 properties— up almost 2%. Moreover, new single-family listings for the month (491) rose 4.5% from a year before. Accordingly, at the July sales rate, there was only a 1.7-months supply of homes. This is still way below historical norms, but it has helped price appreciation.
settlements (2,267) were up over 2% and year-to-date contracts (2,473) rose 1.5% from a year ago. And, July settlements (367) edged up 5.5% from a year before. However, monthly contracts (341) dropped almost 8% from last July.
$250,000 $150,000 $50,000 2007
Single-‐Family Lis/ngs and Inventory 7/13 -‐ 7/14
National Resale Market Average
800 700 600 500 400 300 200 100 0 J
D.C. Single-‐Family Prices: 2007 -‐ 7/2014
On the supply side, listings are up strongly from a year ago. This February was the low point at just over 520 properties. But, by the end of July, listings totaled 686 units and were up 13.6% over July 2013. Similarly, the 441 new listings were 3% higher than a year before. Complementing recent history, at the July contracts pace, there was only a 2-month supply of properties. However, again, the shortage of supply has contributed to price appreciation. Condo/Coop Lis+ngs and Inventory 7/13 -‐ 7/14
$100,000 $0 2007
July Condominiums and Cooperatives
The DC condominium and cooperative market is holding its own with a positive unit sales trend. Year-to-date July 20142014 CAPITAL AREA AREAREALTOR REALTOR® •® •May/Jun Sept/Oct
For the single-family resales market, July sales (4.55 million, saar) were 2.7% above the level of June, but were 4.2% below the pace of July 2013. However, the single-family median price ($223,900) rose 5.1% and the average ($269,500) moved up 3.8% from a year ago. In the existing condo/coop market, sales units (600,000 saar) equaled the June rate, but they were 4.8% below July 2013. Nevertheless, the national condo/coop median price came in at $215,000 – edging up 3.3% from a year before. The average price ($262,700) moved up only 3.2%.
Economic Growth andGrowth Jobs
Nationwide, total existing home resales in July (most recent) totaled 5.15 million units at a seasonally adjusted and annualized rate (saar). The monthly figure rose 2.4% above June, but was 4.3% below the rate for July 2013. Also, the July median price of $222,900 increased 4.9% from a year before with the $268,700 average rising almost 3.7%. At the end of July, there was a 2.37-million unit inventory (saar), which represented a 5.5-month’s supply of homes. The month’s supply was up 3.5% from June, and 5.8% above the July 2013 stock. At the national level, supply is finally getting back to a normal range, after the recession.
Fortunately, price performance has been very good considering the sluggish unit sales record. Home prices through July are up slightly from the end of last year. In 2013, the average DC single-family home cost $711,905 with the median price at $599,900. This translated to appreciation rates over 2012 of 8.6% and 13.2%, respectively. Even with last year’s rises, through July, the average price of $783,460 jumped over 10%; and, the median of $628,750 rose by 4.8%. Appreciation rates will likely soften later this year and into 2015, given cautious homebuyers, low inflation, and low-income growth.
With tight supply, condos and coops experienced very good appreciation rates in 2013. Annual average and median prices were up 5.9% and 7.5% from their respective 2012 figures. Through this July, prices were still showing positive upward movement. The July average of $469,733 rose 3.3%; the $415,000 median edged up 1.6% from the comparable 2013 figures. These are sustainable rates, given the current economic trends.
The July 30 Bureau of Economic Analysis’ first estimate of second quarter 2014 real GDP growth (the economic growth rate less the inflation rate) came in at a relatively strong 4.0%. Another more complete estimate will be released the end of August. Unfortunately, the revised estimate for the first quarter indicated that real GDP growth decreased by 2.1%. This was due primarily to the harsh winter suffered by most of the country, and a cutback in consumer spending. The July payroll employment report was pretty positive with 209,000 new non-farm jobs. Also, the household survey for the unemployment rate came in with a lower 6.2% rate – down from 10% at the worst of the recession. Nevertheless, unemployment rates among minorities are still high and it is estimated that there are 7.51 million workers employed only part-time who want to be full-timers. The Fed is still sensitive to this concern, but there is no willingness in Congress to provide more stimulus spending.
While the BEA second quarter number was good, the Congressional Budget Office just put out a forecast of only 1.5% real growth for all of 2014, due to the economic weakness of the first half. This is quite pessimistic, given that in 2013 the real growth rate was 1.9%. Many economists started out bullish on U.S. growth, but growth rates are slowing internationally and the troubles in the Middle East and the Ukraine are affecting economic decisions. The Euro-zone countries are not stimulating their economies sufficiently and growth in China and Brazil is slowing.
Policy, Interest Monetary Policy, Interest Rates, andRates, Inflationand
The Fed continues to cut monthly purchases of U.S. Treasury securities and mortgage bonds and is expected to be done with this ‘tapering’ by the end of the year. At this point, it appears they will stick with this strategy unless there is a strong reversal of the growth and employment trend. However, they are continuing to say they will keep short-term interest rates low into 2015. Recently bond markets have rebounded and are continuing to keep long-term interest rates relatively low, as the U.S. is the best and safest place to put one’s money. We have low inflation, but a slowly growing economy; however, the growth rate at least equals the rate of inflation. The rest of the world has many problems and can be dangerous for the wealthy. This continues to attract investment funds from abroad. The stock market has had a ‘bull-on’ for several years now and both the Dow-Jones index and the S&P 500 are hitting new highs. Even the NASDAQ has gotten back a significant portion of the massive loss that it suffered in the internet-tech crash at the beginning of the century. Mortgage rates are down 20 to 40 basis points from a year ago, and there are not likely to be large spikes in rates, even when the Fed starts pushing up on short-term rates next year. Many investors seem to be waiting for a significant correction, but there are not many safe places to put one’s money, and long-term Treasury rates are at all-time lows.
The Bottom Line
The 2014 unit sales market continues to be a bit weaker than in 2013, but price appreciation has offset some of the losses. Nevertheless, there will be more flattening out of the appreciation rate. Some of this may be due to the late winter weather, but also to the fact that 2013 was a very good year. Corrections should be expected. Overall, economic growth for this area will likely stabilize as with the rest of the country. The year 2014 should finish respectably, but less bullish than 2013. We should continue to moderate our expectations for sales volumes and price appreciation. . CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR® • Sept/Oct 2014
By Chris Darby, Tom Muldoon, and John Nalls of Counselors Title, LLC, and Pardo & Drazin, LLC, General Counsel
QUESTION: I have a question related to the Disclosure of the Bro-
kerage Relationship form (GCAAR #1002). I have seen both listing and selling agents fill this out in every way possible, and I am trying to get a definitive answer as to who signs which parts of the form.
ANSWER: Ideally the person to whom the form is presented will
sign the “Acknowledged” section in the box. However, there is nothing that requires a customer to complete this form. If a customer is unwilling to sign, having acknowledged receipt of the form, for any reason, the agent presenting the Disclosure need only write the name of the party to whom the form was presented and sign at the far bottom (under the box). The intent of the agent signature section at the bottom of the form is for the situations in which the customer will not sign. The purpose of the law, and the form, is to inform customers “prior to providing specific real estate assistance” that the licensee may have a relationship and obligation to another party.
QUESTION: A 90-day Notice to Vacate for possession of a unit for personal use is usually given by the contract buyer. However, it looks like the new notices are instructing the building owner to give the notice and swear they are moving into the unit. Please let me know who is supposed to give the 90-day vacate notice for personal use?
ANSWER: District of Columbia Law Landlord Tenant law pro-
vides that a building or unit owner may provide a tenant with a 90-day Notice to vacate the property for personal use and occupancy, either by the owner/seller or by a contract purchaser of the owner/seller. When the owner intends to move into the property him or herself, the owner/seller would use RAD Form 12 “90 Day Notice to Vacate for Personal Use and Occupancy,” and must certify to these facts under oath. If, on the other hand, an owner/seller has contracted to sell the property and the contract purchaser intends to move into the property, the owner should use RAD Form 13 “90-Day Notice to Vacate for Personal Use and Occupancy of Contract Purchaser,” and both the owner and the contract purchaser must certify these facts under oath. The owner should give whichever notice is factually accurate. It is important to note that the right to evict the tenant based upon these notices is a completely separate consideration than the rights of a tenant to an Offer of Sale and Right of First Refusal under the Rental Housing Conversion and Sale Act of 1980 (commonly referred to as “TOPA”)
CAPITAL AREAREALTOR REALTOR® •® •May/Jun Sept/Oct CAPITAL AREA 20142014
QUESTION: My client made an offer under the Home Inspection
Set It and They Won’t Forget It
Contingency (GCAAR Form # 1332, Paragraph 2) by delivering notice of certain home inspection items that needed repair, but then had a change of heart and wanted to void the contract. Can they still do so if they are within the 3-day notice period?
This app will keep your services top of mind while also helping new home owners stay on top of maintenance chores.
ANSWER: The short answer is no, your client cannot unilaterally
void the contract if they have already begun negotiating home inspection items. The Home Inspection Contingency allows the Buyer to either negotiate items found in the home inspection report—option A under paragraph 2—or deliver notice declaring the contract void—option B under paragraph 2. Once the buyer has chosen either option A or option B, contractually they do not have the right to switch gears and choose the other option. Moreover, under option A, once a notice negotiating home inspection items is delivered to the other party, the party delivering the notice does not have the right to revoke the notice, or otherwise alter it, even if the 3 days has not expired. Once the notice has been delivered, then it’s the other party’s opportunity to determine how it will respond to that notice within the 3 days provided for under option A.
I have a contract with a 5-business day general inspection, which would end on Friday. They are doing the inspection on Tuesday, but plan to do a chimney inspection on Wednesday. Is this ok?
ANSWER: Both Paragraph 2 (“Home Inspection Contingency”)
and Paragraph 3 (“General Inspection Contingency (No Right to Negotiate”) of the Addendum of Clauses (GCAAR Form 1332) allow for multiple inspections, as long as they are conducted within the time period selected by the parties. Therefore, a purchaser may schedule multiple inspections, as part of the home inspection process, provided all are conducted within this timeframe.
The answers provided here are the opinions of the authors, are for informational purposes, and are only for GCAAR members. Neither Counselors Title, LLC, nor Pardo & Drazin, LLC is providing legal advice, but rather providing a general statement of law. No lawyer/client relationship is – or will be – established as a result of the material which follows. Readers are encouraged to retain their own counsel for their specific questions. Answers may have been edited for formatting purposes.
By Meg White, REALTOR® Magazine What better way to help clients protect their investment (and remember your great service) than branded home maintenance reminders? HomeKeepr allows you to upload your contact information and a list of your trusted vendors. Then, your clients can download a free, personalized app that will help them remember all those little tasks that can fall by the wayside long after the excitement of closing has passed. Clients answer 15 questions about their home, such
as what kind of air conditioning the home has and the climate the home is situated in, to help the app determine what kind of reminders they’ll need. Users can also call or e-mail you right from the app. HomeKeepr includes a referral function, making it simple for past clients to pass along your contact information to future customers. Starts at $9.99 per month. HomeKeepr, New York [agents.homekeepr.com] Meg White is the multimedia web producer for REALTOR® Magazine. You can reach her at firstname.lastname@example.org. Reprinted from REALTOR® Magazine Online, September, 2014, with permission of the National Association of REALTORS®. Copyright 2014. All rights reserved.
Answers to Quiz from page 9 1 – FALSE What’s important with prospecting is to be consistent and do it every day. Don’t wait until you need business. Many experts suggest prospecting one to two hours a day, either by phone or personal contact. 2 – FALSE The REALTOR® Code of Ethics forbids prospecting under false pretenses. Always be honest; if the prospect learns you were lying, you will lose all credibility. Instead you might say that you have had several buyers in the past who found certain of house appealing and that it is a very popular style at the moment. 3 – TRUE The 2000 NATIONAL ASSOCIATION OF REALTORS® Profile of Home Buyers and Sellers found that 28 percent of FSBOs eventually used a real estate professional. Many FSBOs become frustrated because of the time involved in showing homes and the expense of advertising. They also may realize that the salesperson offers transaction knowledge that makes the sales process easier. 4 – FALSE Any customer or client whom you have an established business relationship with can be contacted by you up to 18 months after the last transaction, unless the person has requested to be placed on your company’s do-not-call list. 5 – FALSE A real estate professional is prohibited from initiating a telephone call to a FSBO seller whose number is listed in the National Do-Not-Call Registry in an attempt to obtain a listing. The federal rules prohibit anyone from making telephone solicitations to telephone numbers that are registered in the database, and a call initiated to obtain the listing falls within that definition. Real estate professionals, however, can contact a FSBO if they are interested in buying the FSBO property or if they have a buyer interested in the FSBO property. But the conversation should only be limited to the practitioners’ or clients’ interest in the property and cannot turn into a solicitation for the listing. 6 – FALSE Home builders are seldom experts in real estate sales and will usually welcome cooperative venture with an energetic salesperson. Home builders often prefer to concentrate on building rather than sales. Learn more about construction and building terms before approaching a homebuilder for business. 7 – TRUE Tracking responses with codes are the most effective way to determine the success of your marketing effort. Be sure that you determine the source of every response you get — calls, direct mail, walk-ins — and code them into a database for later analysis. 8 – FALSE Cross-marketing — the use of mail, phone, and face-to-face contact to complement each other — is the most effective way to prospect. Experts often suggest sending one to three direct mail efforts and then following up with a phone call or a request for an appointment once you have built some initial name recognition. CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR® • Sept/Oct 2014
New “Service Recommendation” Rule Now in Effect
The Maryland Real Estate Commission adopted a new regulation that requires agents who recommend service providers to verify that the service provider is licensed by the State of Maryland.
Thank You RPAC Investors Platinum “R” ($10,000)
Golden “R” ($5,000)
Crystal “R” ($2500)
Frank Pietranton, Jr.
Jill Pogach Michaels
Suzanne Des Marais
Bonnie Casper Ed Krauze Carole Maclure
Sterling “R” ($1,000)
Capital Club ($250-$999)
R. Bradley Runyan
P. Joy Siegel
CAPITAL AREA AREAREALTOR REALTOR® •® •May/Jun Sept/Oct 20142014
• Verify that the recommended individuals are licensed to perform those services by checking their licensing status • Give the customer or client an electronic link to the licensing information and the date on which the service provider’s licensing status was verified (Most licensing information can be accessed at: dllr.state.md.us/license/. Title agents can go to: mdinsurance.state.md.us Real estate licensees are expected to verify contractor license status at least once a year. The rule applies to “service providers including, but not limited to, a mortgage lender or mortgage broker, a real estate appraiser, a home inspector, a
Transportation DC and Montgomery County Take on Transportation Challenges Together Councilmembers Mary Cheh (DC) and Roger Berliner (Montgomery County) co-chaired the jurisdictions’ first ever joint Transportation Committee meeting this past July. Collaborative solutions to traffic issues and coordinating long-term transportation plans were discussed. “The congestion on our roads affects the quality of life in both jurisdictions,” said Berliner. “It is in [DC and Montgomery County’s] mutual interests to... provide seamless, high-quality transit services.”
(As of September 30, 2014)
Under the rule, if an agent chooses to recommend service providers in conjunction with the real estate transaction, the real estate licensee must:
Realtor Party ®
Proposed solutions included Montgomery County’s Rapid Transit System, the newly-designed DC streetcar system, and improvements to four major arteries. The Joint Committee plans to continue working together and GCAAR’s Government Affairs staff will closely monitor this collaborative effort.
home improvement contractor, a plumber, an electrician, or a heating/ ventilation/ air condition/ cooling (HVAC) contractor.” The Regulation is currently final; however, MAR is looking into possible alternatives. Until further notice, compliance is required.
Montgomery County Property Tax Credit for Owners Providing Reduced Rent for Seniors and Disabled
GCAAR supports a new bill that would allow owners who charge reduced rent to eligible elderly or disabled tenants to apply for a credit against their County property tax bill. The credit amount would be 50% of the difference between market rent and the reduced rent. GCAAR commends the Council for this incentive-based policy aimed at encouraging affordable housing for our County’s most vulnerable residents. Tax credits will help owners make improvements, ensuring that rental properties are properly maintained, clean, and safe. Reduced rents allow tenants to save more money in the hopes that they might become property owners themselves - a win-win situation!
Big Wins in Primary for GCAAR REALTOR®Endorsed Candidates
The REALTOR® Party celebrated another huge victory in the June 24 Democratic Primary Elections with nine out of ten GCAAR RPAC candidates winning their races! Mailings, phone calls, RPAC donations, and volunteer hours were just a few ways GCAAR members got involved. Thanks to all the dedicated members who contributed their time and energy - without you, these victories would not have been possible! We aren’t out of the woods yet – Maryland’s General Election is November 4, 2014. Your legislators have critical roles in issues like transportation funding, economic development, and affordable housing. Get out and VOTE for these REALTOR® RPAC-supported candidates: County Executive: Ike Leggett, County Council: Roger Berliner - District 1, Craig Rice - District 2, Sidney Katz - District 3, Nancy Navarro - District 4, Nancy Floreen - At Large, George Leventhal - At Large, Hans Riemer - At Large, Marc Elrich - At Large
® CAPITAL AREA REALTOR ® • May/Jun 2014 CAPITAL AREA REALTOR • Sept/Oct 2014
District of Columbia Legislative Success: Council to Restore $500k to Real Estate Guaranty & Education Fund
DCAR is pleased to report its latest accomplishment: the DC Council is set to restore $500,000 to DC’s Real Estate Guaranty and Education Fund. DC’s Fiscal Year 2015 Budget begins the process of restoring the nearly $3.25 million which was swept from the Fund to fill general operating budget shortfalls. .
DCAR Joins Councilmember in Tackling Affordable Housing
DCAR was recently selected among top housing advocates to take part in an ongoing roundtable discussion about preserving and expanding DC’s affordable housing stock. Leading the group is
on the Hill
DC Councilmember Anita Bonds who encourages advocates to think of new ways the government can leverage its resources to defend affordable housing.
NAR Victory: FHA “Prepayment Penalty” Eliminated
DCAR emphasized the important role REALTORS® have in ensuring that information about the City’s affordable housing programs and resources makes its way to the clients these programs serve. REALTORS® understand the immense value of the Housing Production Trust Fund, and believe that for it to thrive, it should be funded by a more stable source of revenue than recordation and transfer taxes.
The Federal Housing Administration (FHA) issued its final rule to eliminate post-payment interest charges on FHA-insured single family mortgages. NAR has urged FHA and Ginnie Mae to remove this prepayment penalty for years, as the policy placed an unreasonable burden on consumers. (Conventional, VA, and other government loan programs do not have post-payment interest charges.) The policy change, which prohibits mortgagees from charging borrowers interest on their home mortgages after a principal balance pay-off, goes into effect January 21, 2015
DCAR Speaker Series REALTORS® and Radon
Keith Keemer from the District’s Department of the Environment stopped by the DCAR offices in June to talk about radon and its effect on homes and families. Members learned the facts about radon, methods for testing, and steps for reducing the potentially deadly gas in DC homes. “This was one of the best Speaker Series seminars DCAR has put on this year,” said DCAR President Bonnie Roberts-Burke. “I highly encourage every member of DCAR to talk to their brokerages about scheduling a session with Keith to learn about this fascinating issue.” To schedule a presentation, contact Keith at email@example.com. To learn more about radon visit: http://green.dc.gov/radon
DC Real Estate Commission Chair, Tony Duncanson
DCAR’s July Speaker Series featured veteran guest Tony Duncanson, Chair of the DC Real Estate Commission. Mr. Duncanson gave an overview of general licensing information, continuing education requirements, and local regulations. He also gave members a heads up on the Commission’s increased enforcement of advertising regulations and the penalties for various rule violations. DC’s Real Estate Commission is charged with regulating the District’s nearly 12,000 real estate licensees and protecting consumers by upholding real estate license laws. DCAR will continue working with the Commission to help REALTORS® understand and comply with licensure requirements.
FAA Prohibits Using Drones to Create Real Estate Videos
YOUR REALTOR® PARTY The REALTOR® PARTY is a powerful alliance of REALTORS® and REALTOR® Associatons working to protect and promote homeownership and property investment. The REALTOR® Party speaks with one voice to advance candidates and public policies that build strong communities and promote a vibrant business environment. From city hall to the state house to the U.S. Capitol, our elected of-
DC Real Estate Commission Chair Tony Duncanson with DCAR Past Presidents Ed Downs and Elizabeth Blakeslee, and 2014 President Bonnie Roberts-Burke (far right). Keith Keemer discusses radon at DCAR.
® CAPITAL AREA 20142014 CAPITAL AREA REALTOR REALTOR®••May/Jun Sept/Oct
DCAR’s Speaker Series aims to bring REALTORS® together with government officials who directly affect the real estate business. Upcoming DCAR Speaker Series Events can be found at dcrealtors.org.
Drones are generating buzz in the real estate industry. Agents across the country are using this technology to take pictures and videos of property for marketing purposes. Beware! The Federal Aviation Administration (FAA) prohibits the use of drones for any commercial purpose, such as creating videos to sell property or hiring a third party to create a video. They have specifically said agents who fly drones to take pictures or videos of listings are not engaged in a “hobby or recreation” and are subject to enforcement actions. NAR recommends members do not use drones for real estate marketing purposes and refrain from hiring companies to do the same until the FAA issues different regulations. NAR has commented that any regulations should ensure that safety, privacy, and national security concerns are addressed, while not being overly burdensome for REALTORS®.
Visit realtoractioncenter.org for details on these and other important federal issues.
ficials are making decisions that have a huge impact on the bottom line of REALTORS® and their clients. Through the support of REALTORS® like you, the REALTOR® Party represents your interests.
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR® • Sept/Oct 2014
education schedule November 14, 2014 Financing Issues/Update CEU: 3 hours DC (required); MD & VA (elective) Instructor: Chanin Wisler Time: 9:30 a.m. – 12:30 p.m.
Two Great FREE MRIS Products Team Up to Make Your Job Easier:
November 14, 2014 DC Legislative Update CEU: 3 hours DC (required) Instructor: Patrick Tangney & Kevin Anderson Time: 10:00 a.m. – 1:00 p.m. *NAR Building/3rd Floor
Homesnap Pro Now Features Showing Time Scheduling
is excited to be able to provide Homesnap Pro, one of the most innovative real estate mobile apps as part of your MRIS subscription at no additional cost. The thousands of MRIS customers who already use Homesnap Pro know how intuitive it is to use, quickly providing the agent-only listing information you need when and where you need it. You can contact listing agents with a few quick taps, view confidential listing information, connect with your clients through the app and more! Now, this great app has become even more useful. Homesnap and ShowingTime are now integrated to allow you to schedule showings right from the Homesnap Pro app! With this new feature, you can click the ShowingTime button in Homesnap Pro to view instructions or schedule a showing on listings that have ShowingTime enabled. The process couldn’t be easier. You just tap the “Schedule with ShowingTime” button on a listing and pick the date and time you want to show the home. The rest is handled automatically.
In order for MRIS customers to take full advantage of this Homesnap Pro and ShowingTime integration, listing agents should consider enabling ShowingTime for their listings. Even simply setting up a listing with the “View Instructions Only” showing type can provide valuable analytics to share with sellers to show how much interest their property is receiving online. If you already use a showing service, such as CSS, enabling ShowingTime can provide an extra layer of convenience for buyer’s agents who are searching for properties for their clients.
How to Enable ShowingTime for Listings
In order for MRIS customers to take full advantage of this Homesnap Pro and ShowingTime integration, listing agents should consider enabling ShowingTime for their listings. Even simply setting up a listing with the “View Instructions Only” showing type can provide valuable analytics to share with sellers to show how much interest their property is receiving online.
You can set up ShowingTime for your listings by accessing ShowingTime from the External Links box on your Matrix Homepage or by using the Showings icon on your Keystone Homepage in the Activities section. Once you’ve opened ShowingTime, select Agent Setup from the ShowingTime control panel where you can choose your default settings for showing requests.
MRIS.com/ShowingTime ® CAPITAL 20142014 CAPITALAREA AREAREALTOR REALTOR•® •May/Jun Sept/Oct
Why Enable ShowingTime?
How to Get Homesnap Pro?
If you already use a showing service, such as CSS, enabling ShowingTime can provide an extra layer of convenience
for buyer’s agents who are searching for properties for their clients.
More information on how to access and set up ShowingTime is available at MRIS.com/ShowingTime. Remember, both Homesnap Pro and ShowingTime are included with your MRIS subscription. There is no additional charge for you to use either of these products if you are an MRIS customer. Thanks to the many real estate professionals who requested that Homesnap Pro integrate with ShowingTime. We think it’s a great feature, and hope that you will too.
November 5, 2014 Financing Issues/Update CEU: 3 hours DC (required); 3 hours MD & VA (elective) Instructor: James Semeyn Time: 10:00 a.m. – 1:00 p.m. * NAR Building/3rd Floor November 5, 2014 Veterans Administration (VA) Financing CEU: 3 hours MD & DC (elective) Instructor: James Semeyn Time: 2:00 – 5:00 p.m. *NAR Building/3rd Floor November 6, 2014 New Member Orientation CEU: No CE Instructor: Jill Michaels Time: 10:30 a.m. – 12:00 p.m. November 6, 2014 Maryland Code of Ethics and Predatory Lending CEU: 3 hours MD (required) & DC (elective) Instructor: Jill Michaels Time: 1:00 – 4:00 p.m. November 7, 2014 MREC Required Supervision CEU: 3 hours MD (required for brokers; elective for agents) & DC (elective) Instructor: Al Monshower Time: 9:30 a.m. – 12:30 p.m. November 7, 2014 Maryland Fair Housing CEU: 1.5 hours MD (required) & DC (elective) Instructor: Al Monshower Time: 1:30 – 3:00 p.m. November 10, 2014 2011-2013 Maryland Legislative Update CEU: 3 hours MD (required) and DC (elective) Instructor: Greg Flynn Time: 9:30 a.m. – 12:30 p.m. November 10, 2014 DC Legislative Update CEU; 3 hours DC (required) Instructor: Greg Flynn Time: 1:30 – 4:30 p.m. November 12, 2014 Broker Manager Forum: Advertising Compliance vs. Personal Marketing CEU: No CE Instructor: Thom Brockett Time: 12:00 – 2:00 p.m.
November 14, 2014 Understanding Credit Reports, Scoring Models and How to Improve Your Credit Score CEU: 3 hours MD, DC & VA (elective) Instructor: Chanin Wisler Time: 1:30 – 4:30 p.m. November 14, 2014 Transaction Red Flags CEU: 1.5 hours MD & DC (elective) Instructor: Patrick Tangney & Kevin Anderson Time: 2:00 – 3:30 p.m. *NAR Building/3rd Floor November 17, 2014 Virginia Broker Management & Agent Supervision CEU: 8 hours VA (required for brokers) Instructor: Thom Brockett Time: 9:00 a.m. – 6:00 p.m. November 17, 2014 GCAAR @ NVAR: MREC Agency – Residential CEU: 3 hours MD (required) & DC (elective) Instructor: Counselors Title Time: 9:30 a.m. – 12:30 p.m. *NVAR Fairfax Location (8407 Pennell Street) November 17, 2014 GCAAR @ NVAR: Real Estate Tax Update CEU: 1.5 hours MD and DC (elective) Instructor: Kevin Matthews Time: 1:30 – 3:00 p.m. *NVAR Fairfax Location (8407 Pennell Street) November 20, 2014 Financing Issues/Update CEU: 3 hours DC (required); MD & VA (elective) Instructor: Debbie Benkert and Chris Darby Time: 9:30 a.m. – 12:30 p.m. *NAR Building/2nd Floor November 20, 2014 DC Fair Housing CEU: 3 hours DC (required) Instructor: Counselors Title Time: 1:30 – 4:30 p.m. *NAR Building/2nd Floor November 20, 2014 DC Legislative Update CEU: 3 hours DC (required) Instructor: Counselors Title Time: 5:00 – 8:00 p.m. *NAR Building/2nd Floor
November 21, 2014 Maryland Code of Ethics and Predatory Lending CEU: 3 hours MD (required) & DC (elective) Instructor: Jacqueline Talpa Time: 10:00 a.m. – 1:00 p.m. *NAR Building/3rd Floor November 21, 2014 Maryland Fair Housing CEU: 1.5 hours MD (required) & DC (elective) Instructor: Jacqueline Talpa Time: 2:00 – 3:30 p.m. *NAR Building/2nd Floor November 22, 2014 Financing Issues/Update CEU: 3 hours DC (required); MD & VA (elective) Instructor: Michael Chelst Time: 10:30 a.m. – 1:30 p.m. November 24, 2014 FIRPTA for Residential Real Estate CEU: 1.5 hours MD and DC (elective) and 2 hours VA (elective) Instructor: Lisa Lu Britton Time: 10:00 a.m. – 12:00 p.m. *NAR Building/3rd Floor November 24, 2014 RPR Basics CEU: No CE Instructor: Barbara Maloney Time: 10:30 a.m. – 12:00 p.m. November 24, 2014 RPR Advanced CEU: No CE Instructor: Win Singleton Time: 1:30 – 3:00 p.m. November 24, 2014 Real Estate Tax Update CEU: 1.5 hours MD and DC (elective) Instructor: Kevin Matthews Time: 1:30 – 3:00 p.m. *NAR Building/3rd Floor December 1, 2014 Veterans Administration (VA) Financing CEU: 3 hours MD and DC (elective) Instructor: Brian Willingham. Time: 1:00 – 4:00 p.m. December 3, 2014 Maryland Legal & Legislative Update CEU: 3 hours MD (required) and DC (elective) Instructor: Al Monshower Time: 9:30 a.m. – 12:30 p.m. December 3, 2014 Financing Issues/Update CEU: 3 hours DC (required); MD and VA (elective) Instructor: James Semeyn Time: 10:00 a.m. – 1:00 p.m. *NAR Building/2nd Floor
Continued, page 32
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR® • Sept/Oct 2014
education schedule December 3, 2014 Maryland Legal & Legislative Update CEU: 3 hours MD (required) and DC (elective) Instructor: Al Monshower Time: 9:30 a.m. – 12:30 p.m.
December 8, 2014 DC Legislative Update CEU: 3 hours DC (required) Instructor: Counselors Title Time: 10:00 a.m. – 1:00 p.m. *NAR Building/2nd Floor
December 3, 2014 Financing Issues/Update CEU: 3 hours DC (required); MD and VA (elective) Instructor: James Semeyn Time: 10:00 a.m. – 1:00 p.m. *NAR Building/2nd Floor
December 8, 2014 Contract Basics CEU: 3 hours MD, DC and VA (elective) Instructor: P. Joy Siegel Time: 1:30 – 4:30 p.m.
December 3, 2014 MREC Agency – Residential CEU: 3 hours MD (required) and DC (elective) Instructor: Al Monshower Time: 1:30- 4:30 p.m. December 3, 2014 Non-Conforming Financing CEU: 3 hours MD, DC and VA (elective) Instructor: James Semeyn Time: 2:00 – 5:00 p.m. *NAR Building/2nd Floor December 4, 2014 Homebuyer Financing CEU: 1.5 hours MD and DC (elective) and 1 hour VA (Elective) Instructor: Michelle Mathews Time: 9:30 – 11:00 a.m. December 5, 2014 Maryland Code of Ethics and Predatory Lending CEU: 3 hours MD (required) and DC (elective) Instructor: Dana Hollish Hill Time: 9:30 a.m. – 12:30 p.m. December 5, 2014 Renovation and Construction Financing CEU: 3 hours MD, DC, and VA (elective) Instructor: Cedric Johnson Time: 10:00 a.m. – 1:00 p.m. *NAR Building/3rd Floor December 5, 2014 Maryland Fair Housing CEU: 1.5 hours MD (required) and DC (elective) Instructor: CarrieAnne Messina Time: 1:30 – 3:00 p.m. December 5, 2014 Comparative Difference Between the MAR and Regional Contracts CEU: 1.5 hours MD and DC (elective) Instructor: Patrick Tangney and Kevin Anderson Time: 2:00 – 3:30 p.m. *NAR Building/3rd Floor December 8, 2014 Foreclosures CEU: 3 hours MD and DC (elective) Instructor: Robert Moses Time: 9:30 a.m. – 12:30 p.m.
® CAPITAL 20142014 CAPITALAREA AREAREALTOR REALTOR•® •May/Jun Sept/Oct
December 8, 2014 DC Fair Housing CEU: 3 hours DC (required) Instructor: Counselors Title Time: 2:00 – 5:00 p.m. *NAR Building/2nd Floor December 10, 2014 Serving the First Time Homebuyer CEU: 3 hours MD, DC and VA (elective) Instructor: Gary Hardy Time: 10:00 a.m. – 1:00 p.m. *NAR Building/3rd Floor December 10, 2014 2010-2014 Maryland Legal Update CEU: 3 hours MD (required) Instructor: Chuck Kasky Time: 1:30 – 4:30 p.m. December 10, 2014 Maryland Code of Ethics and Predatory Lending CEU: 3 hours MD (required) and DC (elective) Instructor: Ned Rich Time: 2:00 – 5:00 p.m. *NAR Building/3rd Floor December 11, 2014 GCAAR @ NVAR: 2011-2013 Maryland Legislative Update CEU: 3 hours MD (required) and DC (elective) Instructor: Greg Flynn Time: 9:30 a.m. – 12:30 p.m. *NVAR Fairfax Location (8407 Pennell Street) December 11, 2014 GCAAR @ NVAR: Comparative Difference Between the MAR and Regional Contracts CEU: 1.5 hours MD and DC (elective) Instructor: Greg Flynn Time: 1:30 – 3:00 p.m. *NVAR Fairfax Location (8407 Pennell Street) December 12, 2014 MREC Agency – Residential CEU: 3 hours MD (required) and DC (elective) Instructor: Jacqueline Talpa Time: 10:00 a.m. – 1:00 p.m. *NAR Building/3rd Floor December 12, 2014 Maryland Fair Housing CEU: 1.5 hours MD (required) and DC (elective) Instructor: Jacqueline Talpa Time: 2:00 – 3:30 p.m. *NAR Building/3rd Floor
The market is changing. And so is our name.
December 15, 2014 Regional Sales Contract Update CEU: 3 hours MD, DC and VA (elective) Instructor: Casey Aiken Time: 9:30 a.m. – 12:30 p.m. December 15, 2014 GCAAR @ NVAR: Maryland Code of Ethics and Predatory Lending CEU: 3 hours MD (required) and DC (elective) Instructor: Adam. Polsky and Chad Older Time: 9:30 a.m. – 12:30 p.m. *NVAR Fairfax Location (8407 Pennell Street) December 15, 2014 Mortgage Basics CEU: 3 hours MD, DC and VA (elective) Instructor: Debbie Benkert Time: 10:00 a.m. – 1:00 p.m. *NAR Building/3rd Floor
When the most respected brand in the world, Berkshire Hathaway, puts its name on a real estate sign,
December 15, 2014 Rental Property Management CEU: 3 hours MD and DC (elective) Instructor: Casey Aiken Time: 1:30 – 4:30 p.m.
that’s a good sign for the market and a great sign for you.
December 15, 2014 GCAAR @ NVAR: Working with Investors CEU: 1.5 hours MD and DC (elective) Instructor: Chad Older Time: 1:30 – 3:00 p.m. *NVAR Fairfax Location (8407 Pennell Street) December 15, 2014 FHA Financing CEU: 3 hours MD, DC and VA (elective) Instructor: Debbie Benkert Time: 2:00 – 5:00 p.m. *NAR Building/3rd Floor December 17, 2014 GCAAR @ NVAR: Veterans Administration (VA) Financing CEU: 3 hours MD and DC (elective) Instructor: Derek Harman Time: 9:30 a.m. – 12:30 p.m. *NVAR Fairfax Location (8407 Pennell Street)
Prudential PenFed Realty is proud to join them as Berkshire Hathaway HomeServices PenFed Realty.
Fall of 2014
Get to know us at: penfedrealty.com Contact us at: 703-877-2714 or 410-547-5700 firstname.lastname@example.org
December 17, 2014 Financing Issues/Update CEU: 3 hours DC (required); MD and VA (elective) Instructor: Jamica Browne Time: 9:30 a.m. – 12:30 p.m. December 17, 2014 GCAAR @ NVAR: Maryland Fair Housing CEU: 1.5 hours MD (required) and DC (elective) Instructor: George Glekas and Jessica Chipoco Time: 1:30 – 3:00 p.m. *NVAR Fairfax Location (8407 Pennell Street) December 17, 2014 DC Legislative Update CEU: 3 hours DC (required) Instructor: Counselors Title Time: 1:30 – 4:30 p.m. December 17, 2014 DC Fair Housing CEU: 3 hours DC (required) Instructor: Mary Chieppa Time: 5:00 – 8:00 p.m.
©2014 Prudential Real Estate brokerage services are offered through the independently owned and operated network of broker member franchisees of BRER Affiliates LLC. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, used under license with no other affiliation with Prudential. Berkshire Hathaway HomeServices brokerage services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.®
Good to know.
CAPITAL AREA REALTOR® • May/Jun 2014
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Capital Area REALTOR® (CAR) September/October 2014