Capital Area REALTOR® Jan/Feb 2015 by GCAAR

R E A LTOR

CAPITAL AREA

gcaar.com

jan/feb 2015

Official publication for the Greater Capital Area Assocation of REALTORS®

Professional Development

Education and CE Discounts

REALTOR® Discounts & Benefits

Networking

$ Advocacy Member Services

WHAT’S YOUR MEMBERSHIP WORTH?

$ $

Legal Hotline

Contracts and zipForms®®

Community Service

Mediation and Arbitration Services

- page 6

CAPITAL AREA REALTOR® • May/Jun 2014

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www.DRHorton.com CAPITAL AREA REALTOR® • May/Jun 2014

from the editor

WELCOME to a new year of Capital Area REALTOR®, GCAAR’s print publication published five times per year. Thank you for your support of the new magazine format that we introduced last year. Our goal is to provide valuable content to help you in your real estate business while sharing what’s happening at GCAAR, so your suggestions are always welcome. The new year is always a good time to take a look at what your Association offers, hence our cover story, “What’s Your Membership Worth.” In addition, we also are introducing a new feature called, “Don’t Let This Happen to You,” where we take a look at actual Code of Ethics case studies. We hope these scenarios will give you information to help you navigate the ethics and professional standards waters more effectively. You can check out Capital Area REALTOR® online via GCAAR.com, so please do and please share. Remember, if you have ideas, comments, or suggestions, feel free to contact us at communications@gcaar.com, and follow us on Facebook, Twitter, and LinkedIn, and now Instagram. Regards,

Bobette Banks, Editor

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 bbanks@gcaar.com. 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© 2015 by the Greater Capital Area Association of REALTORS®. All rights reserved.

15201 Diamondback Drive, Suite 100 • Rockville MD 20850 Phone: 301.590.2000 • Fax: 301.590.2248 • www.gcaar.com Facebook.com/GCAAR2 Twitter@GCAARNow LinkedIn/in/GCAAR CAPITAL AREA REALTOR® • May/Jun 2014 Instagram.com/GCAAR

R E ALTOR

CAPITAL AREA

jan/feb 2015

Need a Service?

affiliate list

GCAAR Affiliate Membe

rs Can Help You

GCAAR has over 180 Affiliates . Affiliates transactions are non-REA such as settleme LTOR® professio nts, house of our current nals who are inspections, Affiliates. involved in mortgage To contact services, banking, real-estate (Resources>Find an affiliate, related or if you are insurance, An Affiliate) and more. interested . If there are Below is a in becomin any updates list g an Affiliate, to this list, Business visit gcaar.co please send m them to members Foremost Appraisals Contact hiprecord & Realty s@gcaar.com. eAppraisal Group Folusho Bello Office Phone Number J Hansen Appraisal Mary Garner Bremerman 240-304-7782 Affiliate Type Assc LLC Chase Commercial John Hansen 301-570-6114 Appraisal Companies Appraisal Division Roxann Novel Appraiser Chad Harris 301-464-2878 Appraisal Companies Chase Commercial Appraisal Division Chase Commercial Appraisal Division Moses & Aiken, LLC/Home Team Title Shulman Rogers Gandal Pordy Law Office of Mark A Bayer Bromberg Rosenthal LLP Palisades Title Company Curtin Law Roberson Dunigan Andrew FitzGerald Atty at Law Shaner & Helf LLC Shulman Rogers Gandal Pordy Jacobs & Associates * The Law Offices of Jill Pogach Michaels KVS Law Kass Mitek & Kass PLLC Jackson & Campbell PC Law Office of Arthur Konopka Kayton & Kotz LLC KVS Law Lasso & Lasso PC

Your Membership – p. 6

GCAAR Year in Review – p. 8

Richard W Lawlor PA Shulman Rogers Gandal Pordy Greenstein DeLorme & Luchs PC Law Office of Robert McCarthy * The Law Offices of Jill Pogach Michaels Law Offices of David P Modell Law Offices of Quinn O'Connell Jr Miles & Stockbridge PC Greenstein DeLorme & Luchs PC Bregman Berbert Schwartz Gilday LLC Vaughn W Royal Attorney at Law Samuelson Law Offices LLC Paley Rothman Goldstein Rosenb Siegel & Associates

Roxann Novel

202-312-1160

Carlos Ortiz Anna Pagi

Lisa Lamphier

Appraisal Companies Appraisal Companies Attorneys

202-466-4747

Attorneys

301-251-6200

Attorneys

202-351-6100

Andrew FitzGerald

Attorneys

202-530-3300

Thomas Helf Douglas Hirsch

Attorneys

301-933-6550

Attorneys

301-913-9306

Harvey Jacobs Owen Jarvis

Attorneys

301-230-5200

Attorneys

301-300-6252

David Kanstoroom Benny Kass

Ricardo Lasso Richard Lawlor

Appraisal Companies Appraisal Companies

202-312-1160 301-468-0080 301-230-5200

Attorneys

240-425-0008

Attorneys

301-605-1420

Roy Kaufmann Arthur Konopka Daniel Kotz

Marc Lipman Richard Luchs

Appraisal Companies

800-232-7196 202-312-1160

Paul Aiken Matthew Alegi Mark Bayer Jonathan Bromberg Steven Buckman Thomas Dunigan

Attorneys

202-659-6500

Attorneys

202-457-6710

Attorneys

202-686-0600

Attorneys

301-770-4107

Attorneys

301-605-1420

Attorneys

202-537-0343

Attorneys

301-340-2400

Attorneys

301-230-5200

Attorneys

Robert McCarthy Jill Michaels

301-654-3730

Attorneys

David Modell

240-425-0008

Attorneys

Quinn O'Connell Jr. Stephen Orens Vincent Mark Policy, Esq. Wendy Pullano

202-452-1400

Attorneys

301-634-9820

Attorneys

202-537-1820

Attorneys

301-762-1600

Attorneys

p. 15in Review Affiliate Affiliate Spotlight – p. 13 NAR Director’s Report GCAAR –Year – p. List 8 – p. 29 The Law Offices

of Jill Pogach Michaels

Vaughn Royal Kenneth Samuelson

202-452-1400

Attorneys

301-656-7603

Attorneys

301-907-8808

Attorneys

202-494-0848

240-425-0008

For more informat

Attorneys

301-656-2707

202-895-1530

Linda Schwartz P. Joy Siegel

Ben Silver

ion, or to become

an Affiliate,

Attorneys

visit gcaar.c om

CAPITAL AREAAREA CAPITAL REALTOR REALTOR•® •Jan/Feb May/Jun 2015 2014 ®

features

in every issue

Don’t Let This Happen to You!

Ask the President

What’s Your Membership Worth?

Board Briefs

GCAAR Year in Review

GCAAR in the News

Quiz: RESPA Rules

Community Service

Affiliate Spotlight

Affiliate List

13 Technology 14 MRIS 15

NAR Director’s Report

Housing Statistics

Legal Hotline

Membership Corner

Public Policy

26 RPAC Don’t Let This Happen to You! Check out our brand new feature – p. 5

CAPITAL AREA REALTOR® • Jan/Feb 2015

29 29

Education Schedule

board of directors

ask the president Q: I’m a Broker in Bethesda and I was recently

told that if an agent in my office doesn’t pay their Association dues, that as the Broker I am responsible. Can you explain why?

A: Sure…we get this question at least once every year. Under Suzanne Des Marais PRESIDENT

Peg Mancuso PRESIDENT-ELECT

Jamie Coley SECRETARY

Tim Knobloch TREASURER

the National Association of REALTORS® (NAR) “dues formula”, the Broker or the “Designated REALTOR®” for each office, is assessed dues on the basis of how many salespersons (licensees) are with that office. GCAAR, like all local Associations in this area, bills dues directly to the members as a convenience to the Brokers, but under the NAR rules, the Broker or Designated REALTOR® is ultimately responsible for the payment of the dues. This means that if a sales associate in your office does not remit their annual dues, that the Broker is responsible for making payment.

Q: Help! My license is renewing this year in both Maryland and the District of Columbia, and I’ve lost track of the courses I’ve completed. How can I find out?

A: I’ve had the same problem. Fortunately, both jurisdictions now post earned Continuing Education (CE) credits online.

FOR MARYLAND

Greg Ford IMMEDIATE PAST PRESIDENT

Mike Moran CHIEF EXECUTIVE OFFICER

directors Koki Adasi David Bediz Thom Brockett Roger Carp Tom Daley Jacque Grenning

William “Bill” Hounshell Vicky Lobos-Kirker Danai Mattison Hildy Pollard Frank Snodgrass Pat Weed

Visit www.dllr.state.md.us/cgi-bin/ElectronicLicensing/RE/CE/ CEquery1.cgi, enter your credentials, and you can view your completed CE credits.

FOR DC

Visit pulseportal.com/selectStateAndBoard.do and follow the instructions from there.

STILL HAVING PROBLEMS?

Give the GCAAR Education staff a call at 301-590-2000.

Capital Area REALTOR® Magazine Bobette Banks MANAGING EDITOR

Arlene Braithwaite ADVERTISING REPRESENTATIVE

Deborah Bell ASSOCIATE EDITOR

Carla Conway DESIGN & LAYOUT

CAPITAL AREA REALTOR® • Jan/Feb 2015

board briefs The GCAAR Board of Directors met January 23, 2015, at the Rockville office.

Forms The Board approved the release of the revised Condo Seller Disclosure/Resale Addendum for DC (Form 921). Last year the Northern Virginia Associations withdrew from the Regional Contract and released their own form for use in Virginia. The GCAAR Board has named a Task Force to revise the Regional Contract for use in Montgomery County and DC.

Public Policy GCAAR continues to be active in efforts to encourage the development of mass transit options in the area. The Association joined a group of Montgomery County business leaders who addressed a letter to Maryland Governor Larry Hogan, encouraging his support for the Purple Line light rail project. A representative from the Montgomery County Executive’s Transit Task Force will be speaking to the Public Policy Committee regarding plans for completing the design and funding for the proposed Bus Rapid Transit system (BRT).

2015 REALTOR Fest – Mark Your Calendars! ®

Planning is underway for the 2015 REALTOR® Fest education day and expanded trade show. The event is planned for July 20 and will be held at the North Bethesda Marriot Hotel and Conference Center. Stay tuned for more details.

The Association held a Development Seminar on February 6 that focused on planned development in the White Oak Science Gateway. This was the 6th in a series of information programs offered by GCAAR that have been centered on the growth in the area’s transit-oriented development centers.

REALTOR® Party The Political and Campaign Affairs Committee is gearing up its 2015 political fundraising activities. The Association ended the 2014 fundraising year on a high note. GCAAR received an Award for Excellence from the National Association of REALTORS® for achieved levels of Major Investor and President’s Circle participants. Join thousands of your fellow REALTORS® by making your 2015 REALTOR® Party investment today!

Professional Standards

Need a Service?

The Board approved adopting the National Association of REALTORS® revised maximum penalty for a violation of the Code of Ethics from $5,000 to a new maximum of $15,000.

GCAAR Affiliate Members Can Help You

CAPITAL AREA REALTOR® • Jan/Feb 2015

Check out the complete list of our current affiliates in the back of this Jan/Feb issue.

Don’t Let This Happen to You! By Joy Liberti, Chair, 2015 GCAAR Professional Standards Committee As REALTORS®, there is so much we need to know to be successful in our profession: 50+ pages of contract forms, knowledge of laws and regulations, and lists of licensed contractors to recommend are just some of the areas where we need expertise. But, what about how we conduct our business? The guidelines we can rely on to help us be true professionals are known as The NAR Code of Ethics. It is important for you to be familiar with The Code so that you can prevent code violations from happening to you. Let’s look at the case below. In this instance, REALTOR® B was charged by his client with violating Article I of the Code of Ethics: Duties to Clients and Customers. Duties to Clients and Customers

ARTICLE 1 When representing a buyer, seller, landlord, tenant or other client as a agent, REALTORS® Pledge themselves to protect and promote the interests of their client. This obligation to the Client is primary, but does not relieve REALTORS® of their obligation to treat all parties honestly. When serving a buyer, seller, landlord, tenant or other party in a non-agency capacity, REALTORS® remain obligated to treat all parties honestly. Case # 1-7: Obligation to Protect Client’s Interests Client A, an army officer, was transferred to a new duty station and listed his home for sale with REALTOR® B as the exclusive agent. He moved to his new station with the understanding that REALTOR® B, as the listing broker, would obtain a buyer as soon as possible. After six weeks, during which no word had come from REALTOR® B, the client made a weekend visit back to his former community to inspect his property. He learned that REALTOR® B had advertised the house: “Vacant—Owner transferred,” and found an “open” sign on the house, but no representative present. Upon inquiry, Client A found that REALTOR® B never had a representative at the property, but continually kept an “open” sign in the yard. Client A discovered that the key was kept in a combination lockbox, and when REALTOR® B received calls from potential purchasers about the property, he simply gave callers the address, advised that the key was in the lockbox, gave them the combination, and told them to look through the house by themselves and to call

him back if they needed other information or wanted to make an offer. Client A filed a complaint with the Board of REALTORS® detailing these facts, and charging REALTOR® B with failure to protect and promote a client’s interests by leaving Client A’s property open to vandalism, and by not making appropriate efforts to obtain a buyer. REALTOR® B’s defense during the hearing was that his advertising of the property was evidence of his effort to sell it. He stated, without being specific, that leaving keys to a vacant listed property in lockboxes and advising callers to inspect property on their own was a “common practice.” The Hearing Panel concluded that REALTOR® B was in violation of Article 1 of the Code of Ethics because he had failed to act in a professional manner with an obligation to protect and promote the interests of his client. Don’t Let This Happen to You!

For more information, visit the Code of Ethics section on realtor.org

To print a full pdf version of the NAR Code of Ethics and Standards of Practice visit: realtor.org CAPITAL AREA REALTOR® • Jan/Feb 2015

WHAT’S YOUR MEMBERSHIP WORTH? A new year is always a good time to take stock and reassess what your real estate association does for you. Sure, you pay your membership dues to GCAAR every year, but you might not know what those dues get you. Being a member of GCAAR does have its benefits…let’s take a look.

ADVOCACY Now more than ever, the survival of your business and the American real estate industry are dependent on regulation and legislation that are changing on local, state, and national levels. The REALTOR® associations are your voice in this arena, promoting and protecting private property rights and the right to own, use, and transfer property. We promote the benefits of home ownership and support affordable and fair housing initiatives.

BUSINESS RESOURCES

MEMBER SERVICES Professional Development

You can take courses such as GRI, CRS®, BPO, and ABR®, a multitude of credit and non-credit enrichment opportunities, and state and national Leadership Academies help you differentiate yourself from the competition.

“

The biggest benefit to me about GCAAR is their educational development. Not only do you

• Contracts and zipForm® Free downloadable and writable forms and contracts.

from your instructors, but you

• SentriLock Secured electronic lockbox system available only to REALTORS®.

• Legal Hotline Free service providing answers to your questions about GCAAR’s contracts and forms.

could take classes online, but

• REALTOR® Discounts and Benefits From NAR, MAR, DCAR, and GCAAR partners for products and services you use most.

questions from your peers. You

have an opportunity to learn also learn from your peers. I there’s nothing like taking a class at GCAAR and hearing the can learn so much.

”

– Betty Pelzer-Sharper BSharper Real Estate

zipForm® (per year) Legal Hotline

(Based on 2 hrs. per year)

MRIS Discount (per year) Education/CE Discount (Based on 15 hrs. of CE per year)

$ 175 $ 250 $ 476 $ 125

Total Value $ 1026

Are you using all your REALTOR® benefits?

CAPITAL AREA REALTOR® • Jan/Feb 2015

Mediation &Arbitration Services Save you time and legal fees.

Saturday Hours

Our Rockville office is open from 10:00 a.m. – 3:00 p.m. on Saturdays (excluding holiday weekends).

REALTOR® Credit Unions

GCAAR members can join the REALTORS® Federal Credit Union (FCU) and locally, the Capital Area REALTORS® FCU which offer personal and professional financial resources for members and their families.

GCAAR in the news Montgomery County Group Wants “Visionary Leader” to Ease Traffic Congestion WTOP December 29, 2014 — GCAAR mentioned

Networking

Whether it’s a YPN event, a happy hour, Broker/Manager Forum, or REALTOR® Fest, you can expand your connections through education and association events and tap into social media outlets that help broaden your business.

“

GCAAR is a great resource for new agents and experienced agents. I’ve personally enjoyed the benefits of earning my GRI designation, loved being involved in the Education and Community Service Committees, as well as participating in GCAAR Cares and networking at the YPN events. GCAAR provides opportunities to

”

help you grow professionally and personally and have a great time while doing it!

- Kelly Vezzi, Coldwell Banker Residential Brokerage

Community Service Opportunities

Getting involved with GCAAR and the community is a great way to hone your leadership skills, build your network, and market yourself and your business, while making a difference is the lives of others who are in need.

“

Community service is our duty and responsibility, but also an opportunity to give back as we have been bless-

”

ed. Supporting GCAAR Cares and their activities allows us to do that.

Publications

- Chuck Clapper, Chair, GCAAR Cares

Find out what’s happening in the real estate industry at all levels through NAR’s REALTOR® Magazine, Maryland REALTOR® magazine, and GCAAR’s own Capital Area REALTOR®, and access the latest tools via realtor.org, mdrealtor.org, dcrealtors.org, and gcaar.com.

“

It’s worth a ton to read the REALTOR® publications to see what the successful folks are doing. Shared ideas generate shared success; what a value!

- Dennis Melby, 2008 GCAAR President

New FHA Rules; 2015 Market Forecast Todd LaBorwit Real Estate Radio Show, WRC 1260 AM January 17, 2015 — 2013 GCAAR President Michael McGreevy, guest

Business, Transit Groups Seek Change in MoCo Transportation Mindset Washington Business Journal December 26, 2014 — GCAAR mentioned

Group Calls for New Way of Thinking in MoCo’s Transportation Department Bethesda Now December 26, 2014 — GCAAR mentioned

GREATER CAPITAL AREA ASSOCIATION OF REALTORS® “Thank you, GCAAR members! You continue to serve our communities with dedication, commitment, and diligence.”

2014

Greg Ford, 2014 GCAAR President

GCAAR REALTORS® Care!

Grant Recipient Affordable 2013 GCAAR Cares e Montgomery County conference. Housing Conferenc cost winners at May announces closing

GCAAR Cares raised over $7400 at this year’s 5th Annual Silent Auction at REALTOR® Fest.

Michael McGreevy Long & Foster Real Estate 2014 GCAAR REALTOR® of the Year

Ann Johnston The Settlement Group 2014 GCAAR Affiliate of the Year 2013 GCAAR Cares Place receives smilingGrant recipient Dwelling faces with blue bedroom.

Montgomery GCAAR Cares joins the Homeless at County Coalition for the event to help their annual Walk ‘n Roll the homeless.

Here are some of the local organizations served by REALTORS® in the past year:

CJ Rader Long & Foster Real Estate 2014 GCAAR Rookie of the Year

• • • • •

American Red Cross Calvary Women’s Services Friendship Place Rebuilding Together® DC Pathways to Housing DC

Two-time Winner of the Maryland Association of REALTORS® Special Projects Award

www.gcaar.com (301) 590-2000

EQUAL HOUSING OPPORTUNITY

REAL TO R

Distinguished Award Winners Ads Current and Gazette Newspapers January 14, 2015; January 28, 2015

Thank You REALTORS® (Community Service) Ads Current and Gazette Newspapers December 11, 2014 ® CAPITAL AREA CAPITAL AREAREALTOR REALTOR®••Jan/Feb May/Jun2015 2014

GCAAR Year in Review It was a busy and productive year at GCAAR, and we couldn’t have done it without you, our members. Here are some highlights:

We educated, networked, and did good deeds Ordinance Rewrite—an issue GCAAR heavily weighed-in on. Montgomery County Planning Board Chair Casey Anderson talked economic development in mid-October.

• Broker/Manager Forums: We did seven in 2014 averaging over 50 attendees per session. • Continuing Education Classes: GCAAR held over 350 classes in 2014, granting over 1,100 continuing education credits.

• Events: The committee held several events in 2014, including the ever-popular REALTOR® Fest in July and our first annual Family Fun Day in August.

• We hosted a Montgomery County Executive Democratic Forum in April featuring candidates Phil Andrews, Ike Leggett, and Doug Duncan to prepare REALTORS® for the County’s June Primary elections. •

In the spring, GCAAR President Greg Ford testified in support of a new bill which would raise the County’s Senior Cit- izens Limited Income Property Tax Credit, while later in the fall, GCAAR Treasurer Tim Knobloch testified in support of a bill which provides education to members of Common Ownership Communities (COC) Boards.

•

President-elect Suzanne Des Marais worked to streamline DC’s Inclusionary Zoning program and improve affordable housing options.

• Your Professional Network (YPN): YPN held three events this year, staying committed to bringing relevant content to REALTORS® and supporting community non-profits. • GCAAR Cares: Our community service committee GCAAR Cares branched out with two new events this year – a blood drive and Boots for Vets. The committee also raised the largest amount to date at the REALTOR® Fest Silent Auction, and revitalized a DC home during its annual Rebuilding Together® project. • Montgomery County Affordable Housing Conference: 2012 GCAAR President Bonnie Casper spoke at the Montgomery County Affordable Housing Conference on May 2.

We raised issues

• We jumped right into the MAR Lobby Day on January 14, getting info on the 2014 REALTOR® priorities. • We continued our Politically Speaking Series in March with Councilmember Nancy Floreen discussing the Zoning

CAPITAL AREA CAPITAL AREAREALTOR REALTOR® ®• •May/Jun Jan/Feb2014 2015

• GCAAR participated in community meetings throughout the County to support innovative transportation solutions.

We scored some big wins on the legislative front

• GCAAR kicked off the year with Montgomery County Exec- utive Ike Leggett, Delegate Anne Kaiser, and a number of state delegates and County officials attending the Montgomery County Legislative Breakfast on January 6.

GCAAR Cares Silent Auction

• GCAAR backed DCAR’s efforts to stop onerous new disclosures from being mandated in our real estate contracts.

•

DCAR’s RPAC celebrated a huge victory in the April Demo- cratic Primary elections, with 100% of their endorsed candidates winning their races.

•

GCAAR’s RPAC scored a big win in June with nine out of ten of our endorsed candidates winning their races in the Montgomery County Democratic Primary.

Your Professional Network (YPN) networking Mixer

REALTOR® Fest

Rebuilding Together® DC

NEW HEADQUARTERS

We moved! GCAAR moved into its new headquarters at 15201 Diamondback Drive in March and hosted a Grand Opening celebration on April 23 for members and friends.

THANK YOU for your support in 2014! It was a good year and we are working to make 2015 even better! Your suggestions and feedback are welcome.

Reach out to us at communications@gcaar.com.

Montgomery County Executive Democratic Forum

Lunch & Learn Series

GCAAR Year in Review

Politically Speaking with Casey Anderson

® ® • May/Jun 2014 CAPITAL AREA REALTOR CAPITAL AREA REALTOR • Jan/Feb 2015

GCAAR CARES

Spotlight: Community Connections Community Connections was awarded a GCAAR Cares grant in December 2014. The grant was used for its Youth in Transition program, a psychiatric residential rehabilitation program for transitioning age youth located in Takoma Park, MD. After more than 25 years of providing housing (and teaching living skills) to their clients daily, upgrades to the building that houses the program and its residents were needed. The grant money, generously given by GCAAR Cares, was used to replace and install new dishwashers in all of the apartments. Prior to the upgrade, the old dishwashers had to be repaired on a regular basis. “The residents love the new dishwashers, and often comment on how nice they look and how grateful they are for them,” says Janet Harris. “In fact, on the day they were delivered and installed, it was snowing. The youth were so excited that they made sure the walkways stayed shoveled and salted so the work crews could do their work safely.” The new dishwashers help staff teach important cleaning skills and help maintain cleanliness in the building. “We are thankful for the 2014 GCAAR Cares grant,” says Janet Harris.

Food & Friends Many thanks to our DC REALTORS® who came out to support the Food & Friends community service project on Monday, December 22. The event ran from 9:00 a.m. – noon and drew twenty volunteers. Members packed meals for individuals who are terminally ill and are unable to leave their homes. Thank you all for coming out to support GCAAR Cares in this DC community service event.

GCAAR Cares presents check to 2014 Grant Recipient Community Connections. For more information about Community Connections, go to: communityconnectionsdc.org or call 202-546-1512.

We are grateful for your commitment to serve. STAY TUNED for details on the next DC community service initiative to take place mid-March at N Street Village (www.nstreetvillage.org) in Logan Circle.

SAVE THE DATE! National Rebuilding Together® Day! April 25, 2015

CAPITAL AREA REALTOR® • Jan/Feb 2015

Creating Safe and Healthy Homes Join us as we rehab a home in Montgomery County, MD.

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quiz

The Real Estate Settlement Procedures Act (RESPA) is a consumer disclosure and anti-kickback statute designed to inform consumers of their settlement costs and to prohibit kickbacks that can increase the cost of obtaining a mortgage.

RESPA RULES

Take this quiz to find out how well you know about this important issue to stay on the right side of the law.

Q.1

Q.2

Q.3

Q.4

Q.5

Q.6

Which of the following is NOT a settlement service that is covered by RESPA? A. Mortgage loan origination B. Furniture moving C. Real estate brokerage services D. Lender’s credit report

Q.7

Another exception to the RESPA rules contained in Section 8 allows real estate professionals to receive compensation for:

Under RESPA, a real estate professional may give in return for the referral of real estate settlement service business: A. A thank you B. A thing of value C. A kickback D. A fee

A. Filling out a mortgage application B. Telling the home inspector the address of the property to be inspected C. The reasonable value of goods and services actually provided or performed D. Doing the same thing they have been paid to do as a real estate professional

To provide consumers with cost information about the mortgage process, RESPA created the good faith estimate (GFE) and the HUD-1 closing document. RESPA requires that the HUD-1 form be provided to the: A. Tax assessor B. Next-door neighbor C. Real estate salesperson D. Buyer

Q.8

RESPA allows title companies to provide real estate professionals: A. $50 for every client referred to the title company by the real estate professional B. An entry in a contest to win a car for every $1,000 in premiums paid by the real estate professional’s clients C. Tickets to a baseball game once a week for the entire season D. Notepads that have been imprinted with the title company’s name and phone number

Q.9

Two companies that provide settlement services and have some degree of common ownership are considered affiliated businesses under RESPA. When there is a referral from one of these companies to the other, RESPA requires the customer receive an affiliated business disclosure that contains specific information, including: A. A statement that use of referred service is not required B. Names of other providers of the same service C. A statement that the property is pest-free D. The commission being paid by the property seller

Substantially revised versions of the GFE and HUD-1 took effect at the beginning of 2010. Among other things HUD’s goal was to reduce surprises to consumers at the closing table by restricting how much some costs could change between the GFE and the HUD-1. What is included among the costs that are allowed to change? A. Loan origination fee B. Title insurance C. Transfer taxes D. Credit charges such as points

In addition to reducing consumer surprises at the closing table, the revised GFE and HUD-1 are intended to make comparison shopping easier for consumers. To do that, the GFE lets consumers look at a proposed loan under all but one of these different scenarios: A. The loan as proposed B. The loan with a lower interest rate C. The loan with different underwriting terms D. The loan with lower settlement charges

To combat higher costs in real estate transactions, Section 8 of RESPA makes it a criminal act for settlement service providers to pay fees for the referral of business. One excep tion to this rule allows a real estate professional to pay a referral fee to: A. A mortgage broker who refers a buyer who has been pre-approved B. A previous customer who refers a neighbor C. Another licensed real estate broker who refers a buyer from an other part of the country D. A relative who overhears a customer saying he or she is moving

Q.11 RESPA is interpreted and enforced by the:

Correct answers on page 25

Q.10 The affiliated business provision, which is an exception to

the general RESPA rule regarding compensation for referrals, allows: A. The real estate professional making the referral to receive a small referral fee B. The party making the referral to receive a return on its ownership interest in the company receiving the referral C. The buyer to avoid having to pay real property transfer tax D. The seller to require buyers to use the seller’s attorney

A. U.S. Department of Justice B. Local U.S. Attorney C. U.S. Department of Housing and Urban Development D. State Association of REALTORS®

Q.12 The penalty for illegally giving or receiving a kickback,

which is covered in Section 8 of RESPA, is: A. Up to 90 hours of community service B. Loss of real estate license C. Requirement to attend a RESPA education program D. A fine of up to $10,000 or up to one year in prison or both CAPITAL AREA REALTOR® • Jan/Feb 2015

technology By Owen Williams Editor, The Next Web

Affiliate Spotlight

TwitShot Makes It Easy to Tweet Every Link With an Image TwitShot, a website that automatically extracts images from pasted links and attaches them to tweets, launched an iOS app on January 29 that makes it an invaluable tool for anyone that uses Twitter. A Twitter study in 2014 showed that simply attaching an image to your tweet results in a 35 percent increase in retweets on average, so attaching images whenever you can is a good way to get attention. TwitShot makes this a no-brainer; its Google Chrome extension adds a button to your browser for instantly sharing a tweet with the link to the page you’re on now, as well as a photo extracted directly from the page. With its new iOS app, you’re able to use iOS 8’s share sheet to seamlessly create a tweet with an embedded image from your iPhone or iPad without needing to go through the hassle of downloading images for sharing. This has quickly become my go-to way to share links to Twitter, since it makes it so easy to share images and links directly in seconds.

TwitShot is available for free for iOS, as well as offering a Chrome extension (twitshot.com) Owen Williams is a reporter for The Next Web based in New Zealand. Owen is up to the second with the latest news on new devices, especially smartphones. You can find him on Twitter at @ow. He also runs a weekly tech newsletter, Charged (weekly.char.gd).

For more information visit twitshot.com

Vimal Kapoor The Building Inspector of America Owner, Principal Inspector

How long have you been an Affiliate with GCAAR?

I have been an Affiliate of GCAAR for about 25 years.

What are some of the events you support?

I have served as a continuing education (CE) instructor since 1991. I have participated on the Affiliate committee, Education committee, and supported REALTOR® Fest and the REALTOR® PAC.

What would you say to people who are considering becoming an Affiliate? GCAAR provides an opportunity for interaction with other professionals in the real estate field. Whether serving on a committee or teaching a class, GCAAR Affiliates benefit through professional development. By staying current on real estate trends and issues, Affiliates have an edge on the competition, while at the same time, widen their circle of professional friends.

Why do you think being a member of GCAAR is important?

GCAAR is an organization designed to support the REALTOR® community, as well as local businesses and organizations that are intertwined with the real estate industry. We are all working towards a common purpose, which is to serve the needs of the home-buying public.

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® ® CAPITAL AREA REALTOR May/Jun2015 2014 CAPITAL AREA REALTOR • •Jan/Feb

Search for New Construction Homes Within Matrix DID YOU KNOW you can search for homes that are new or under construction simply by clicking on a tab

at the top of the Matrix search page? Between the rbi Market Stats and Foreclosure tabs you’ll notice a tab called New Homes. This tab is powered by the New Home Source Professional website and is part of a partnership with Builders Digital Experience LLC (BDX), a company which aggregates new construction listings from all the major developers in the area, and as an MRIS subscriber, you get to use this resource for FREE.

What can New Home Source Professional do?

Designed specifically for real estate agents, New Home Source Professional has the largest collection of new home listings available anywhere. With access to an MRIS-customized version of the New Home Source Professional site via the New Homes tab in Matrix, you can directly search for and view all builders’ inventory in your area. You can search new construction by all the usual characteristics—price, square footage, etc.—as well as find homes that are ready for a quick move in. Most importantly, all of the builders included in the search database are agent-friendly so you can expect fair compensation for bringing buyers to the table.

How could this benefit you as an agent? You can . . .

Gain a competitive advantage in a market demanding new homes. With the resources at their fingertips, you have the opportunity to be seen as a “new home expert” in your market. • Receive FREE access to many more new home listings. Only 50% of new home data can be found through an MLS. • Offer buyers more options because of this extra data. • Access exclusive community and new home details and comprehensive inventory across all markets. • • • • • • • • •

Have opportunities to earn a higher commission and develop your future resale business. Take advantage of detailed new home search options making it easier to pinpoint what buyers want. Find helpful information on new homes and communities including the following: Photos and floor plans Pricing, rooms, square footage, story, and amenity information School district, tax, and community information Maps and directions Contact information for builders Exclusive agent and consumer promotions

• Weekly email updates on new inventory and incentives

Want more information?

Click on New Home Source Professional in the navigation area at http://www.mris.com/mris-products/affiliated-services, but to get started all you have to do is log in to Matrix and click the New Homes link at the top.

visit: www.mris.com CAPITAL AREA AREAREALTOR REALTOR® •® •May/Jun Jan/Feb2014 2015

NAR

director’s report Suzanne Des Marais, 2015 GCAAR President

2015 Begins With Key Real Estate Wins REALTORS Join Coalition to Pass Patent Litigation Reform On January 15, the National Association of REALTORS® (NAR) announced it had joined the United for Patent Reform Coalition to pursue comprehensive solutions to abusive patent litigation. The Coalition consists of a diverse group of American businesses from across a wide range of industries – technology, retail, hotels, grocers, restaurants, and construction. Patent reform is crucial to REALTORS®, as the real estate industry is more and more dependent on the use of information technology and software products to market properties and manage business. The United for Patent Reform coalition sent a letter to Congress outlining seven legislative reforms it supports: • • • • • • •

Reform Abusive Demand Letters Make Trolls Explain Their Claims Protect Innocent Customers Make Patent Litigation More Efficient Stop Discovery Abuses Make Abusive Trolls Pay Provide Less Expensive Alternatives

NAR, along with the United for Patent Reform Coalition, will continue to advocate for commonsense patent litigation reform that fosters innovation and investment while benefiting the entire American economy.

TRIA Reauthorization Signed Into Law On January 12, the President signed H.R. 26, the Terrorism Risk Insurance Program Reauthorization Act of 2015, into law. This law, which was passed by the House by a vote of 416-5 on January 7 and the Senate by a vote of 93-4 on January 8, renews the Terrorism Risk Insurance Act (TRIA) for six years, through 2020. Along with reauthorizing the program, H.R. 26 makes a few changes to further protect the federal government from risk – it raises the trigger amount for the program from $100 million to $200 million, and increases the mandatory recoupment amount from $27.5 billion to $37.5 billion, along with decreasing the government’s share in losses from 85% to 80%. Otherwise, it makes few changes to a program that has kept terrorism risk insurance affordable and available throughout the country since 2002, at virtually no cost to taxpayers.

FHA Annual Premium Reduction Finalized On January 8, 2015, President Obama announced that the Federal Housing Administration (FHA) would reduce FHA annual mortgage insurance premiums (MIP) by 50 basis points. This reduction is a victory for NAR, whose members have called for lower fees on FHA loans since early 2014. NAR estimates that a 50 basis point reduction in the annual MIP from 1.35 percent to .85 percent would price-in an additional 1.6 million to 2.1 million renters, along with many trade-up buyers, resulting in 90,000 to 140,000 additional annual home purchases. The premium reduction is effective for case numbers assigned on or after Jan. 26, 2015. For more information on this and other NAR initiatives, visit realtor.org

CAPITAL AREA REALTOR® • Jan/Feb 2015

housing statistics MONTGOMERY COUNTY & DC Montgomery County Sales Market in 2014 The combined (single-family and condo/coop) sales market showed a weaker performance than in 2013. The total unit sales volume came in at 10,976 properties, down 4.2% from 2013. The average sold price came in at $503,956 -- up about 1% from last year; and, the $400,000 median just equaled that of 2013. In 2014, properties turned over only slightly more slowly than a year before. Average days on the market totaled 50 – only 3 more than in 2013. By the end of the year, active listings totaled 2,276 homes, which was 34% above the end of year level of 2013.

Single-Family Homes

Montgomery County 2014 year-to-date (YTD) settlements and contracts were down about 3% from 2013. Single-family settlements (8,377) came in 3.3% below the same period in 2013; and, contracts (8,624) were down 2.9% from the total for 2013. Contracts started the year with 523 homes and ended at 518 in December; the peak months were April (1,059), May (1,029), and June (921). Settlements started out with 418 units in January. The peak months were May (867), June (980), and July (843). The December finish of 748 units was up 20% from December 2013.

Active listing inventory in 2014 ended up almost 34% from the end of 2013. By the end of 2013, single-family actives totaled only 1,330 homes. However, by April 2014 there were 2,127 total actives; it moved above 2,500 in June and maxed out at 2,859 in September. Listings in 2014 ran from 675 homes in January, ending with 511 in December – that month was up 29% from December 2013. Monthly listings peaked in May with 1,637 properties; April (1,476) and June (1,373) were next in order of volume. At the end of 2014, at the December contracts pace, there was about

CAPITAL AREAREALTOR REALTOR® •® •May/Jun Jan/Feb 2015 CAPITAL AREA 2014

a 3.4-months supply, and that rate had been relatively constant over the year. While the 2014 single-family sales pace was down 3%, price performance was virtually unchanged. By December 2014, the year-end average sales price was $576,205, and the median was $460,000. The average was up about 0.5% and the median price was unchanged from 2013. Single-family YTD average prices started at just over $555,000 in January, hit $583,864 in August, and then trended down ending at $576,205. Higher priced sales in the summer months pushed them up, with lower priced properties selling in the fall. The median price for January was $439,592 and that moved up to a YTD peak of $475,000 through July.

Condominiums and Cooperatives

The condominium and cooperative unit sales market in 2014 was down significantly compared to a year before. Through the end of December, there were 2,568 settled sales – down 6% from a year ago. Over the year, settlements started at 160 units in January, ending at 200 in December. The peak month was June (276), with May (247) in second place. December yearto-date contracts (2,652) dropped 5% from a year before; however, the 182 new monthly contracts jumped 14.5% from

by Fred Flick, PhD, Consultant/Housing Economist

the end of 2013. Monthly contracts started out the year with 217 in January, rising to a peak in April (303), followed by May (299). Inventory increased throughout the year until September. By December there were 490 total actives, and they were 17% above a year before. The peak months were September (647) and October (644). New listings in December 2014 (155) came in about 3% above a year before. As for the trend of new monthly listings, May was the peak month (374), with April (363) second. By December, at the monthly contracts pace, there was only a 2.7-month’s supply of properties.

The 2014 condo/coop market also struggled with price appreciation. However, the lower end of the market fared better than the top end. Through December, the YTD average price of $266,285 slipped about 1.4% from the end of 2013. Curiously, the median of $223,000 was up exactly 1.4% from 2013. In 2013, the average price of $269,950 rose 7.7% from 2012; and, the $220,000 median was 5.6% higher. In 2014, the average price started off in January at $265,272 and quickly rose to a YTD average of $276,509 by the end of April. It slipped to $274,483 in May, then trended downward to the mid $260s in the fall. The January median price started at $237,000, rose to a peak of $225,000 in May, and bounced around the $223,000 to $225,000 range through the summer and fall. It ended 2014 at $223,000, lower than it started.

Washington, DC Sales Market in 2014 For the year, the District of Columbia combined unit sales pace was down slightly compared to a year before. Totaling 7,949 closed properties, it was down by just 5 sales. The average sold price came in at $620,026, up 5.3% from 2013. The median sold price was $499,000, and it rose 5.1%. In 2014, properties in DC turned over faster than a year before. Average days on the market totaled 38 – 6 fewer than in 2013. By the end of the year, active listings totaled 980 homes, which was about 7% below 2013.

Single-Family Homes

The 2014 Washington, DC single-family unit sales market was a bit softer compared to 2013. December year-to-date settlements (4,066) edged down by 0.6%, but new settlements (363) were up 8 sales from December 2013. The year started out with 256 settlements in January, peaked in June (429), and then slipped into the 360 range for the second half of the year. The performance of contracts was down slightly as well. YTD contracts totaled 4,224, down 0.4% from a year before. January began with 303 property contracts and rose to the peak in April (462) and May (457). There continued, page 18 CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR® • Jan/Feb 2015

17 17

housing statistics was a second peak in October (433), but they bottomed out in December at 295. Nevertheless, December monthly contracts were 15% above the December 2013 pace. The District’s 2014 end-of-year single-family inventory (515) was down almost 4% from the levels of a year before. However, new single-family listings for December (277) jumped 16% from a year before. Nevertheless, as we saw for much of the year, at the December contracts pace, there was only a 1.7-month’s supply of homes. Inventory started the year at 496 properties, but didn’t reach a peak level until September (778), followed by October (735). The pattern for listings was similar. New monthly listings for January totaled 324 homes, with the peak in September (608). The spring and mid-summer hovered in the 400 to 550 range.

While unit sales were down in 2014, single-family price performance was reasonably good considering the sluggish sales record. Through December, the average price of $750,771 rose by 5.5% and the median of $620,250 moved up by 3.4% over December 2013 prices. These rates look pretty good in a world where inflation is staying below 2%. Average and median prices, respectively, started out at $677,361 and $559,700 in January. By the end of December they had worked up to $750,771 and $620,250. The peak YTD average price was $783,460 in July, and then it trended down steadily as cheaper properties sold. For the median, January started out at $559,700. The peak was $628,750 in July, and then it followed a downward trend to around $620,000.

Condominiums and Cooperatives

By the end of 2014, the DC condominium and cooperative market was up slightly from 2013. Year-to-date December settlements (3,848) were up 1.4% and year-to-date contracts (3,889) edged up 1.1% from a year before. Settlements started with 204 units in January and finished December with 288. The

CAPITAL AREA AREAREALTOR REALTOR® •® •May/Jun Jan/Feb2014 2015

peak sales month was July (409), with May (394) second. The summer and fall trended down to the 260 - 380 range. Contracts in January totaled 276 homes, with the peak in May (450). April (438) was second, followed by June (410). From July through October, contracts were in the 300 – 360 range. The year ended with 212 contracts in December, down almost 2% a year before.

By the end of 2014, there were 473 active condo/coop listings in the inventory and these were down about 15% from a year before. The inventory in January totaled 532 units, and hovered around the 680 – 687 level in May through August. Interestingly, the late peak occurred in September (744) and then dropped off rapidly through December (473). Compared with the end of 2013, new monthly listings were down almost 21% by the end of the year. New monthly listings started out at 367 units in January and rose to a peak of 603 in May. They then slipped to 314 in August, then bounced back with a second peak of 600 in September. After that, they dropped rapidly in the last quarter of the year, ending December with a 185 monthly rate. By year-end, at the December contracts pace, there was only a 2.3-months supply of properties. With tight supply, condos and coops experienced good appreciation rates in 2014. The YTD December 2014 average price

Economic Growth and Jobs

The year 2014 saw the best year for economic growth since the Great Recession. It also had the lowest unemployment rate and highest level of job creation. The Bureau of Economic Analysis’ final estimate of third quarter real GDP growth (the economic growth rate less the inflation rate) came in at an outstanding 5%. The report also indicated that real GDP growth for the second quarter was a very good 4.6%. Nevertheless, some economists are still predicting that the fourth quarter will be weaker. came in at $479,734; and the median was $415,000. Compared to the end of 2013, average condo/coop prices rose 5.5% and the median edged up 1.6%. At the end of January the average price was $459,503. It hovered in the $469,000 to $474,000 range from July through November, finally hitting the high for the year in December. The median price in January was $384,950 and it hit a high of $418,000 in May. The median price then moved in the $411,000 to $415,000 range until it hit a second peak at $416,250 in November. No doubt the tight supply has supported appreciation, although it is down significantly from 2012.

The December payroll employment report, released in early January, was very positive with 252,000 new non-farm jobs. Also, the household survey for the unemployment rate came in at a new low of 5.6%. While ‘discouraged’ workers numbers were down 177,000 from December 2013, part-time employment was still at about 6.8 million. And, average hourly earnings rose only 1.7%, just equal to the rise in inflation. The labor market is getting stronger, but nothing like it was before the recession.

Monetary Policy, Interest Rates and Inflation

While the Fed stopped its Quantitative Easing policy, it has given reassurances that it is watching interest rates and inflation. They have indicated that they will keep short-term interest rates low well into 2015. While many economists expect them to push short-term rates up in the spring, many are now expecting that rate rise to come in the summer or fall. Inflation has been trending down due to declines in energy prices, Europe is heading into another recession, and China has a housing bubble and slowing growth rate.

National Resale Market

Nationwide, total existing home resales in 2014 totaled 4.93 million units at a seasonally adjusted and annualized rate (saar). They were down 3.1% from the 2013 production rate of 5.09 million units. At the end of 2014, inventory totaled 1.85 million properties, with the year averaging a 5.2 months supply. The annual median price of $208,500 increased 5.8% from 2013 and the $255,400 average rose 4%. The 2014 single-family market logged 4.343 million sales, but was 3% below the level of 2013. The inventory averaged 1.63 million homes with a good 5.2 month’s supply. Single-family prices showed solid appreciation -- the $209,000 median rose 5.9% and the $255,600 averaged moved up 4%. The 2014 existing condo/coop market had 591,000 sales -- down 2% from 2013. The average inventory through the year was 216,000 properties, an average 5 months supply. The national condo/coop median price ($205,100) was up 5.2% and the average price ($254,300) rose 4% from 2013.

So, it is not likely interest rates will rise by much over the next six months. The U.S. stock markets continue to maintain solid values although volatility has risen. Several (non-Eurozone) European central banks have devalued their currency in attempts to maintain exports as the Euro has been declining. While the U.S. is the safest place to invest, the strong dollar will eventually hurt exports and outside investment. The U.S. economy should stay strong over the next year or so, but if large economies around the world slip, it could eventually weaken our economy.

The Bottom Line

Overall, the 2014 real estate sales markets were weaker in unit sales than in 2013. However, price appreciation held up pretty well, relative to the low rate inflation in the economy. This means mortgage rates are likely to stay low through at least half of 2015. Other things equal, for 2015 the slower foreign economic growth and falling currencies will make investment in U.S. property more difficult. Local area growth might be affected by the federal government sequester, which returns in the last quarter of 2015, but we will have to see. Hopefully, 2015 will pick-up on the sales side, even if appreciation rates slip a bit. CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR® • Jan/Feb 2015

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legal hotline By Chris Darby, Tom Muldoon, and John Nalls of Counselors Title, LLC, and Pardo & Drazin, LLC, General Counsel

QUESTION: A ratified contract exists on a DC single-family

house with a tenant. We represent the purchaser. The tenant was provided his TOPA rights, but no written response was received. The tenant’s rights expired some months ago. Just as we were going to approach the Tenant about the Tenant Affidavit and consideration for moving, a Third Party, via his agent, emailed us an agreement between himself and the Tenant asserting that he had thus purchased the Tenant’s rights. The agent included a purchase agreement between his client and the seller that duplicated the terms of the agreement in place. Does the contract with the Third Party that stepped in the shoes of the tenant supersede the original contract?

ANSWER: DC’s TOPA (Tenant Opportunity to Purchase Act)

laws gives DC tenants the right to purchase the property they occupy anytime its owners plan to place it up for sale. The law sets up a structured sale transaction in which the tenants have special legal protections and prescribed periods of time to organize and finance the purchase the property. The process for the tenant starts when they receive a Notice of Offer of Sale from their landlord informing them of the intention to sell. The purchase price is set by either the sales contract between the property owner and a Third Party buyer, or by the property owner alone. If the price is set by a Third Party contract it must be matched by the tenants to be accepted. If the building owner sets the price without an existing contract then that price can be negotiated. Any tenant offer that matches the set price within the prescribed time period must be accepted. Additionally, the law allows the tenant to sell, assign or transfer their TOPA rights to any Third Party for consideration. Specifically, DC Code Sec. 42-3404.06 of the TOPA laws state, “the tenant may exercise rights under this subchapter in conjunction with a third party or by assigning or selling those rights to any party, whether private or governmental. The exercise, assignment, or sale of tenant rights may be for any consideration which the tenant, in the tenant’s sole discretion, finds acceptable. Such an exercise, assignment, or sale may occur at any time in the process provided in this subchapter and may be structured in any way the tenant, in the tenant’s sole discretion, finds acceptable.” So legally, as it relates to the facts provided, the tenant certainly has the right to transfer their rights, but in this instance it seems as though it’s a question of timing. Since the Third Party will step into the shoes of the tenant when the rights

® CAPITAL AREAREALTOR REALTOR • Jan/Feb CAPITAL AREA • May/Jun 2014 2015 ®

are assigned, the assignment and matching of any Third Party contracts must take place in the prescribed TOPA time periods. Your fact scenario indicates that the tenant’s rights expired months ago, but those time frames would need to be examined to see when the transfer of the rights and the matching of the contract took place.

QUESTION: What duties can an unlicensed real estate assistant perform? On one of my listings the first time I met the REALTOR® listed on the sales contract was in the lobby of his office the day of settlement. Ninety-five percent of the communication was with another person, other than the agent of record. The agent of record was not present for the home inspection --another person was present.

ANSWER:

Below are the Guidelines of the Maryland Real Estate Commission for what an unlicensed real estate assistant may and may not do. The requirements are similar in the District and Virginia: An unlicensed employee MAY: • Answer the telephone and forward calls to a licensee. • Submit listings and changes to a multiple listing service. • Follow up on loan commitments after a contract has been negotiated. • Assemble documents for closing. • Secure documents (public information) from courthouse, public utilities, etc. • Have keys made for company listings. • Write and place ads subject to the review and approval of licensee and supervising broker. • Type contract forms at the direction of, and for approval by, licensee and supervising broker. • Compute commission checks. • Place signs on property. • Arrange the date and time of home, termite, and well/septic inspection, mortgage application, pre-settlement, walk-thru, and settlement. • Prepare flyers and promotional information for approval by licensee and supervising broker. • Act as courier service to deliver documents, pick up keys, etc. • Schedule an open house. • Schedule appointments for licensee to show listed property. • Accompany a licensee to an open house or showing for security purposes or to hand out preprinted materials.

An unlicensed employee MAY NOT: • Prepare promotional materials or ads without the review and approval of licensee and supervising broker. • Show property. • Answer any questions on listings, title, financing, closing, etc. • Discuss or explain a contract, listing, lease, agreement, or other real estate document with anyone outside the brokerage. • Be paid on the basis of real estate activity, such as a percent age of commission, or any amount based on listings, sales, etc. • Negotiate or agree to any commission, commission split, management fee, or referral fee on behalf of a licensee. • Discuss the attributes or amenities of a property, under any circumstances, with a prospective purchaser or lessee. • Discuss the terms and conditions of the real property offered for sale or lease with the owner of the property. • Collect, receive, or hold deposit monies, rent, other monies, or anything else of value received from the owner or lessee of the real property or from a prospective purchaser or lessee. • Provideowners of real property or prospective purchasers or lessees with any advice, recommendations, or suggestions as to the sale, purchase, exchange, or lease of real property to be listed or real property presently available for sale or for lease.

• Hold himself or herself out in any manner, orally or in writ ing, as being licensed or affiliated with a particular company or real estate broker as a licensee. • Contact the public concerning the availability of real estate brokerage services unless an inquiry about a specific property is immediately referred to a licensee. Note that the word “licensee” as it appears in the guidelines means a licensed associate broker or salesperson affiliated with and acting under the supervision of a broker. An individual who holds a license, but is affiliated with a different broker, is considered to be unlicensed for the purposes of these guidelines.

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.

membership corner SentriLock Card Fees Are Due March 2 SentriLock Card Services are available to members who have paid both SentriLock fees and their 2015 REALTOR® Association dues. REALTOR® dues are billed separately by the primary Association. For information on dues payments, please contact your primary Association.

SentriLock Card Service fees for 2015 are $135 and are due on March 2, 2015. For your protection and security, SentriLock does not store your credit card data, so payments cannot be processed automatically.

You must pay via one of the methods listed below: 1. VISIT THEIR WEBSITE

http://lb.sentrilock.com and click on the shopping cart icon. This will allow you to securely pay online through their e-commerce network.

2. CALL THE TOLL-FREE NUMBER

1-877-EASY-606 (877-327-9606) to pay via telephone. Please have your SentriCard ready as you will need the number on it to make a telephone-based payment.

3. MAIL CHECK PAYMENTS to the following address: SentriLock LLC Attn: Agent Billing 7701 Service Center Dr. West Chester, OH 45069

GCAAR members who have not paid SentriLock by March 2, 2015 will have their SentriCard suspended and a reactivation fee of $50.00 will be added to the total amount due. Suspended cards can be immediately reactivated via payment to SentriLock, provided all dues and fees owed to your primary REALTOR® Association are paid in full. If you have any questions, please contact: SentriLock Tech Support at: 513-618-5800.

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CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR • Jan/Feb 2015 ®

public policy For additional information on legislative and policy issues, contact Katalin Peter, Esq., GCAAR’s legislative counsel at kpeter@gcaar.com.

Maryland

Montgomery County

GCAAR Joins MAR for Legislative Breakfast in Annapolis

GCAAR 2015 Montgomery County Priorities

GCAAR members and staff met in Annapolis on January 27 to attend the Maryland Association of REALTORS®’ (MAR) Legislative Breakfast. The event provided an opportunity for REALTORS® across the state to meet with their State Senators and Delegates on critical issues affecting the real estate industry and homeowners.

The Montgomery Council is back in session, with government agencies geared up for a busy year ahead. Here is what GCAAR is keeping a close watch onEnergy Efficiency GCAAR supports improving energy efficiency through voluntary financial incentives, education and other commercially reasonable alternatives in lieu of government mandates. Transportation Investment REALTORS® support necessary transit improvements to facilitate cross-county travel, including the Rapid Transit Vehicle System, Corridor Cities Transitway and Purple Line, as well as the construction of safe bikeways and sidewalks.

Gov. Larry Hogan with GCAAR Past President and 2015 MAR Secretary Shelly Murray.

The filled Annapolis Loews Hotel ballroom was welcomed by MAR leadership and staff who gave an overview of our 2015 legislative priorities including transportation, agency law, and service provider referrals. Special guests Governor (and REALTOR®!) Larry Hogan and General Assembly Senate President Mike Miller addressed the group with words on the future of Maryland’s real estate industry. Governor Hogan stressed his goal of “getting back to business” with a balanced budget, and Senate President Miller described the invaluable role of REALTORS® have in influencing legislation. GCAAR looks forward to working with MAR and other local Maryland REALTOR® associations during the General Assembly session. The Montgomery Delegation is the largest in the General Assembly, with key positions on nearly all of the House and Senate’s standing committees. Stay up to date on legislation and events at mdrealtor.org.

Taxes and Affordable Housing REALTORS® support efforts to reduce barriers to home ownership, including lowering recordation and transfer taxes. Revenue derived from real estate transfers supports public services that benefit the many by taxing the few. Such a source of revenue is instable, and the County should look for alternatives. GCAAR opposes the pre-payment of property taxes and supports the County government’s closing cost assistance program for moderate-income and first-time buyers. Rent Stabilization and Control REALTORS® oppose rent control and believe that the free market is the best way to ensure a healthy, balanced real estate environment. GCAAR supports a full range of programs to ensure those in need have access to decent, affordable housing.

‘Rockville’s Pike Plan’ Moving Forward Rockville’s ‘Pike Plan’ sets goals for making a 2-mile corridor of Rockville Pike more inviting to residents, workers, shoppers, pedestrians, bicyclists and transit riders. With significant residential and employment growth projected in the 382-acre area over the next 25 years, particularly in White Flint, the Pike Plan aims to manage these changes to the benefit of Rockville and its community members.

Planners will be working on the Pike Plan over the next few months and appreciate feedback from the public. GCAAR members can send comments to mdlegislative@gcaar.com.

CAPITAL AREA AREAREALTOR REALTOR® • May/Jun • Jan/Feb 20142015 ®

District of Columbia DCAR Supports Small Business Legislation

DHCD Gives DC REALTORS® the Scoop on TOPA

Councilmember Charles Allen (D-Ward 6) has introduced the “Small Business Incubator Act” to jump start new business ventures in DC. If passed, the Bill would create a 90-day temporary business license category and a 180-day temporary certificate of occupancy. Buildings using this program for a minimum period of time would be exempt from vacancy tax rates.

DCAR’s January Speaker Series featured Lauren Pair and her colleagues from the DC Department of Housing and Community Development (DHCD). Ms. Pair discussed the most common REALTOR® concerns related to TOPA administration with the nearly seventy DCAR members in attendance, followed by a lively Q&A session. REALTORS® were encouraged to carefully review directions, keep detailed copies of documentation related to their transactions, and not leave any spaces blank when submitting forms.

DCAR supports this innovative approach to creating homegrown business opportunities and commends REALTOR® Champion Charles Allen for this important (and his very first) piece of legislation to the Council!

DC Zoning Commission Tackles “Pop-Ups” In January, District residents and members of the business community gathered for a lengthy public hearing concerning pop-ups and conversions before DC’s Zoning Commission. The Zoning Commission is considering a DC Office Planning proposal to amend the by-right height for a row house in the R-4 district from 40 to 35 feet. Another proposal would limit the conversion of certain row houses to multi-family dwellings. The Commission aims to reach a decision over the next few months.

DCAR believes a healthy housing environment for the city depends largely on a strong tenant/housing provider relationship, and we advocate fairness for both groups. DHCD Rental Conversion and Sale We will continue to work with gov- Administrator Lauren Pair informs members of DCAR about TOPA laws ernment agencies like DHCD to and regulations. assist our members in understanding the intricacies of DC laws and regulations. Thanks to Lauren Pair and her guests for providing such an informative session!

DCAR submitted a neutral letter to the Zoning Commission encouraging them to thoroughly review feedback from all stakeholders, as this decision will have a major impact on housing as a whole. Keep an eye out for updates from DCAR via email, or visit the Zoning Commission’s website at dcoz.dc.gov/.

Improving DC’s Inclusionary Zoning Program DC’s Department of Housing and Community Development (DHCD) issued updated draft regulations for the District’s Inclusionary Zoning (IZ) Program. The proposed changes aim to streamline the regulatory process, including the current lottery system. GCAAR President Suzanne Des Marais worked extensively on this issue with DCAR, and the Associations jointly submitted detailed comments on areas that have caused concern for the REALTOR® community. We believe the Inclusionary Unit program should be as simple as possible for citizens and businesses to understand and effectively administer. REALTORS® would like to see more occupied inclusionary units to improve affordable housing opportunities for District residents. We will continue working closely with government officials to ensure our comments are carefully considered.

L-R: Tonya Butler-Truesdale (DHCD) Housing Provider Ombudsman, President-Elect Angela Jones, Lauren Pair (DHCD) Rental Conversion and Sale Administrator, 2015 President Ed Wood, Immediate Past President Bonnie Roberts-Burke.

DCAR has created a TOPA Task Force to review ways to improve upon the law and is actively seeking stories from members about their particular experiences. Send your feedback to dclegislative @gcaar.com.

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CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR® • Jan/Feb 2015

on the Hill Federal Update: FAA Grants Exemptions to Drone Ban

Legislative Breakfast Rescheduled for March 9

The Federal Aviation Administration (FAA) has issued its first drone permits to real estate and agriculture companies. The exemptions to the ban on commercial drone flights were granted to an Arizona real estate company to operate a drone as part of the company’s real estate practices, and an Idaho company for “crop scouting.”

GCAAR’s Annual Legislative Breakfast is a great way to get in front of the movers and shakers in Montgomery County and hear about the issues facing the real estate industry. Register at gcaar.com.

NAR supports safe and responsible use of drones in real estate and is working with the FAA as it completes rules governing their use. Until then, operating a drone for commercial purposes without an FAA permit remains illegal. New drone rules released February 15. Visit realtor.org for details and other federal issues affecting real estate.

® CAPITAL AREA May/Jun 20142015 CAPITAL AREA REALTOR REALTOR • • Jan/Feb ®

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ANSWERS to Quiz from page 11

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1 – FURNITURE MOVING Settlement services relate to the making of the federally-related mortgages that are covered under RESPA. Services that are provided after closing typically are not covered by RESPA and are not considered settlement services.

2 –A THANK YOU RESPA prohibits any person from giving or receiving a fee, kickback, or “a thing of value” for referring business to a mortgage broker or banker, or a title company. Saying thank you is not considered a thing of value for purposes of the Act. 3 – BUYER The person conducting the settlement needs to make the HUD-1 form available for inspection to the buy1er (borrower) at or before settlement. The Act does not require that copies be provided to real estate professionals. 4 –TITLE INSURANCE On the GFE, HUD identifies four charges that cannot change at all. These are 1.) the lend er’s origination charge, 2.) the credit charges (points) for the specific interest rate chosen (after the interest rate is locked in), 3.) the borrower’s adjusted origination charges (after the interest rate is locked in), and 4.) transfer taxes. Title insurance costs can change up to 10 percent if the lender selects the insurer or the borrower chooses an insurer from a list provided by the lender, or they can change an unlimited amount if the borrower selects the insurer com pletely separate from the lender. 5 –THE LOAN WITH DIFFERENT UNDERWRITING TERMS The GFE is intended to ease comparisons among costs (interest rate, brokerage fees, etc.) associated with a loan, not comparisons among different underwrit ing terms such as the loan-to-value ratio and length of the term. 6 –A THANK YOU RESPA prohibits any person from giving or receiving a fee, kickback, or “a thing of value” for referring business to a mortgage broker or banker, or a title company. Saying thank you is not considered a thing of value for purposes of the Act. 7 –THE REASONABLE VALUE OF GOODS AND SERVICES ACTUALLY PROVIDED OR PERFORMED Section 8(c) of RESPA states that nothing in the section prohibiting the payment of referral fees shall be construed as prohibiting the payment to any person of a bona fide salary or compensation or other payment for goods or facilities actually furnished or for services actually performed. 8 –NOTEPADS THAT HAVE BEEN IMPRINTED WITH THE TITLE COMPANY’S NAME AND PHONE NUMBER The RESPA provision prohibiting the payment of a referral fee does not include normal educational and marketing activities that are not contingent on the referral of business. Since the notepads were not contingent on the referral of business and are typical marketing materials for a title company, they are not prohibited. 9 –A STATEMENT THAT USE OF REFERRED SERVICE IS NOT REQUIRED The disclosure must state the existence of an affiliated business arrangement between you and the company to which you are referring your clients. As part of the disclosure, your clients must be provided a written estimate of the charge or range of charges made by the company to which the clients are being referred and information that makes clear that your clients are not required to use that company. 10 –THE PARTY MAKING THE REFERRAL TO RECEIVE A RETURN ON ITS OWNERSHIP IN- TEREST IN THE COMPANY RECEIVING THE REFERRAL The only thing of value that can be received from an affiliated business arrangement, other than the payments permitted under other subsections of Section 8 of the Act, is a return on the ownership interest. 11 – U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT The Act vests the HUD Secretary with the authority to interpret the Act, conduct investigations into violations, and bring actions for violations of the Act. Parties other than the HUD Secretary, such as customers, also may be authorized to sue for violations of certain provi sions of the Act. 12 –A FINE OF UP TO $10,000 OR UP TO ONE YEAR IN PRISON OR BOTH Penalties for violation of Section 8 of the Act may include a fine of up to $10,000 or up to one year in prison, or both.

25 25

CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR • Jan/Feb 2015 ®

Your Voice Counts

RPAC

Make an Investment in RPAC Jamie Coley, 2015 Political and Campaign Affairs Committee Chair

Thank You RPAC Investors Dale Ross

Capital Club ($250-$999)

GCAAR

Briana Ayala

Platinum “R”

David Bediz

Golden “R”

Jan Brito

Bonnie Casper

Thom Brockett

Ed Krauze

Vanessa Brown

Carole Maclure

Kevin Brunell

Crystal “R”

Larry Calvert

Jamie Coley

Roger Carp

Peg Mancuso

Anita Centofanti

Christopher Suranna

Lori Connor

Sterling “R” Thomas Daley Suzanne Des Marais James Downing Greg Ford

Christopher Darby Anthony DeVol Samuel Dweck Michael Fowler Jeffrey Ganz Scott Goldberg

Angela Jones Tim Knobloch Alana Lasover Mike Moran

Todd Greenbaum Jacqueline Grenning Colin Johnson Elley Kott

Shelly Murray Frank Pietranton, Jr. Randy Rothstein Ellie Shorb

Kymber Lovett-Menkiti Anthony Mancuso

There was a time when I thought that a REALTOR® Political Action Committee (RPAC) investment was just a check box on the annual dues payment form. But as I have become more involved in the political and government affairs of the Association, I have seen first-hand the power and the value of investing in the REALTOR® Party. As this year’s Political and Campaign Affairs Committee Chair, I am proud to say making an investment in RPAC does make a difference! Let’s look at some recent successes: • Homeowner Flood Insurance Act becomes law • FHA reduces mortgage insurance premiums • Extension of tax relief for mortgage debt forgiveness • Congress backs off the 20 percent down payment requirement for Qualified Residential Mortgages • REALTOR® Party-supported candidates from both parties were successful in national Senate and Congressional elections And locally, through our RPAC-supported efforts: • 5 out of 6 REALTOR® Party-supported candidates won election in the District of Columbia • 9 out of 10 REALTOR® Party-supported candidates were successful in Montgomery County Your RPAC investment played a part in all of these successes, and we look forward to meeting this year’s challenges as well. Now more than ever, it is critical for REALTORS® to come together and speak with one voice about the stability a sound and dynamic real estate market brings to our communities. Investing in RPAC is one way to ensure that our REALTOR® voices are heard. GCAAR’s fair share goal is over $145,000 for the two jurisdictions, and with your support we know we can meet that goal! Stay tuned for some fun opportunities to get involved.

Danai Mattison Kevin McDuffie

Jennifer Smira Pat Weed

Thomas Muldoon Hildy Pollard

Edward Wood

Bonnie Roberts-Burke

Realtor Party ®

Matthew Rogers Susan Sanford P. Joy Siegel (as of Feb. 13, 2015)

Shahnaz Tehraniazad Seth Turner

RPAC is your ‘political E&O insurance’ Join with thousands of your fellow REALTORS® by making your investment today! You can invest online at gcaar.com or send your check made payable to RPAC to our offices at 15201 Diamondback Drive, Suite 100, Rockville, MD 20850

26 26

CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR • Jan/Feb 2015 ®

education schedule Instructor: Amy Klein Time: 1:30 – 4:30 p.m. March 13, 2015 2011-2013 Maryland Legislative Update CEU: 3 hours MD (required) and DC (elective) Instructor: P. Joy Siegel, Esq. Time: 9:30 a.m. – 12:30 p.m. March 2, 2015 MREC Required Supervision CEU: 3 hours MD (required for brokers; elective for agents) and DC (elective) Instructor: Al Monshower Time: 9:30 a.m. – 12:30 p.m. March 2, 2015 Maryland Legal and Legislative Update 2009-2013 CEU: 3 hours MD (required) and DC (elective) Instructor: Al Monshower Time: 1:30 – 4:30 p.m. March 5, 2015 DC Legislative Update CEU: 3 hours DC (required) Instructor: Jacqueline Talpa Time: 9:30 a.m. – 12:30 p.m. March 5, 2015 DC Fair Housing CEU: 3 hours DC (required) Instructor: Jacqueline Talpa Time: 1:30 – 4:30 p.m. March 6, 2015 Maryland Code of Ethics and Predatory Lending CEU: 3 hours MD (required) and DC (elective) Instructors: Chad Older and Adam Polsky Time: 9:30 a.m. – 12:30 p.m. March 6, 2015 DC Legislative Update CEU: 3 hours DC (required) Instructor: Cammie Reed Time: 10:00 a.m. – 1:00 p.m. * NAR Building/3rd Floor March 6, 2015 Working with Investors CEU: 1.5 hours MD and DC (elective) Instructor: Chad Older Time: 1:30 – 3:00 p.m. March 6, 2015 DC Fair Housing CEU: 3 hours DC (required) Instructor: Cammie Reed Time: 2:00 – 5:00 p.m. * NAR Building/3rd Floor

March 13, 2015 Financing Issues/Update CEU: 3 hours DC (required) and MD and VA (elective) Instructor: Chanin Wisler Time: 10:00 a.m. – 1:00 p.m. * NAR Building/3rd Floor March 13, 2015 Maryland Fair Housing CEU: 1.5 hours MD (required) and DC (elective) Instructors: George Glekas and Jessica Chipoco Time: 1:30 – 3:00 p.m. March 13, 2015 Condo Underwriting Update CEU: 1.5 hours MD and DC (elective) and 1.0 hour VA (elective) Instructor: Chanin Wisler Time: 2:00 – 3:30 p.m. * NAR Building/3rd Floor March 18, 2015 The Ins and Outs of Contracts CEU: 1.5 hours MD and DC (elective) Instructor: Greg Flynn Time: 3:00 – 4:30 p.m.

NOTE: All classes are held at GCAAR’s Rockville office unless otherwise noted.

Instructor: Jacqueline Talpa Time: 2:00 – 5:00 p.m. * NAR Building/3rd Floor March 25, 2015 MREC Agency - Residential CEU: 3 hours MD (required) and DC (elective) Instructor: Cammie Reed Time: 9:30 a.m. – 12:30 p.m. March 25, 2015 Contracts, Settlement Procedures and Disclosures CEU: 3 hours MD and DC (elective) Instructor: Lawrence Elliott Time: 1:30 – 4:30 p.m. March 26, 2015 Financing Issues/Update CEU: 3 hours DC (required); MD and VA (elective) Instructor: Alex Peters Time: 9:30 a.m. – 12:30 p.m. March 26, 2015 Non-Conforming Financing CEU: 3 hours MD, DC and VA (elective) Instructor: Alex Peters Time: 1:30 – 4:30 p.m. March 27, 2015 2011-2013 Maryland Legislative Update CEU: 3 hours MD (required) and DC (elective) Instructor: David Politzer Time: 10:00 a.m. – 1:00 p.m. *NAR Building/3rd Floor

March 19, 2015 New Member Orientation CEU: No CE Instructor: Shahnaz Tehraniazad Time: 10:30 a.m. – 12:00 p.m.

March 27, 2015 Maryland Fair Housing CEU: 1.5 hours MD (required) and DC (elective) Instructor: David Politzer Time: 2:00 – 3:30 p.m. *NAR Building/3rd Floor

March 19, 2015 Maryland Code of Ethics and Predatory Lending CEU: 3 hours MD (required) and DC (elective) Instructor: Jill Pogach Michaels, Esq. Time: 1:00 – 4:00 p.m.

March 30, 2015 RPR Basics CEU: No CE Instructor: Win Singleton Time: 10:30 a.m. – 12:00 p.m.

March 20, 2015 Representing the Seller CEU: 3 hours MD, DC and VA (elective) Instructor: Thom Brockett Time: 9:30 a.m. – 12:30 p.m. March 20, 2015 DC Legislative Update CEU: 3 hours DC (required) Instructor: Jacqueline Talpa Time: 10:00 a.m. – 1:00 p.m. * NAR Building/3rd Floor

March 11, 2015 Anatomy of a House – Secrets Revealed CEU: 3 hours MD, DC and VA (elective) Instructor: Vimal Kapoor Time: 1:00 – 4:00 p.m.

March 20, 2015 Working with Buyers CEU: 3 hours MD, DC and VA (elective) Instructor: Thom Brockett Time: 1:30 – 4:30 p.m.

March 12, 2015 Title Insurance CEU: 3 hours MD, DC and VA (elective)

March 20, 2015 DC Fair Housing CEU: 3 hours DC (required)

March 30, 2015 RPR Advanced CEU: No CE Instructor: Win Singleton Time: 1:30 – 3:00 p.m. April 1, 2015 Virginia Legal Update CEU: 1 hour VA (required) and 1 hour DC (elective) Instructors: Jessica Chipoco and George Glekas Time: 9:30 – 10:30 a.m. April 1, 2015 DC Legislative Update CEU: 3 hours DC (required) Instructor: Counselors Title Time: 10:00 a.m. – 1:00 p.m. * NAR Building/3rd Floor continued, p. 28 CAPITAL REALTOR • May/Jun2015 2014 CAPITAL AREA AREA REALTOR • ® Jan/Feb ®

education schedule April 9, 2015 Renovation and COnstruction Financing CEU: 3 hours MD, DC and VA (elective) Instructor: Cedric Johnson Time: 1:30 – 4:30 p.m. April 10, 2015 Virginia Ethics CEU: 3 hours VA (required) and DC (elective) Instructor: Thom Brockett Time: 9:30 a.m. – 12:30 p.m. April 1, 2015 DC Legislative Update CEU: 3 hours DC (required) Instructor: Counselors Title Time: 10:00 a.m. – 1:00 p.m. * NAR Building/3rd Floor April 1, 2015 Virginia Mandatory Contract Review CEU: 1 hour VA (required) and 1 hour DC (elective) Instructors: Jessica Chipoco and George Glekas Time: 11:00 a.m. – 12:00 p.m. April 1, 2015 Virginia Mandatory Agency CEU: 1 hour VA (required) and 1 hour DC (elective) Instructors: Jessica Chipoco and George Glekas Time: 1:30 – 2:30 p.m. April 1, 2015 DC Fair Housing CEU: 3 hours DC (required) Instructor: Counselors Title Time: 2:00 - 5:00 p.m. * NAR Building/3rd Floor April 2, 2015 New Member Orientation CEU: No CE Instructor: Shahnaz Tehraniazad Time: 10:30 a.m. – 12:00 p.m. April 2, 2015 Maryland Code of Ethics and Predatory Lending CEU: 3 hours MD (required) and DC (elective) Instructor: TBD Time: 1:00 – 4:00 p.m. April 8, 2015 Unconventional Transactions CEU: 4 hours MD, DC and VA (elective) Instructor: Michael Gross Time: 12:30 – 4:30 p.m. April 9, 2015 Advanced FHA Financing CEU: 3 hours MD, DC and VA (elective) Instructor: Jamica Browne Time: 9:30 a.m. – 12:30 p.m.

CAPITAL AREA REALTOR® • May/Jun 2014

April 10, 2015 GCAAR @ NVAR: Contracts, Settlement Procedures and Disclosures CEU: 3 hours MD and DC (elective) Instructor: Mark Somerville Time: 9:30 a.m. – 12:30 p.m. *NVAR Fairfax Location (8407 Pennell Street) April 10, 2015 Maryland Code of Ethics and Predatory Lending CEU: 3 hours MD (required) and DC (elective) Instructor: Ned Rich Time: 10:00 a.m. – 1:00 p.m. * NAR Building/3rd Floor April 10, 2015 Virginia Fair Housing CEU: 2 hours VA (required) and DC (elective) Instructor: Thom Brockett Time: 1:30 – 3:30 p.m. April 10, 2015 GCAAR @ NVAR: Maryland Fair Housing CEU: 1.5 hours MD (required) and DC (elective) Instructor: Ann Johnston Time: 1:30 – 3:00 p.m. *NVAR Fairfax Location (8407 Pennell Street) April 13, 2015 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/3rd Floor

April 17, 2015 MREC Agency - Residential CEU: 3 hours MD (required) and DC (elective) Instructor: Al Monshower Time: 9:30 a.m. – 12:30 p.m. April 17, 2015 GCAAR @ NVAR: Maryland Code of Ethics and Predatory Lending CEU: 3 hours MD (required) and DC (elective) Instructors: Chad Older and Adam Polsky, Esq. Time: 9:30 a.m. – 12:30 p.m. *NVAR Fairfax Location (8407 Pennell Street) April 17, 2015 Maryland Fair Housing CEU: 1.5 hours MD (required) and DC (elective) Instructor: Al Monshower Time: 1:30 – 3:00 p.m. April 17, 2015 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) April 17, 2015 203K CEU: 3 hours MD, DC and VA (elective) Instructor: Cedric Johnson Time: 2:00 – 5:00 p.m. *NAR Building/3rd Floor April 20, 2015 2011-2013 Maryland Legislative Update CEU: 3 hours MD (required) and DC (elective) Instructor: P. Joy Siegel, Esq. Time: 9:30 a.m. – 12:30 p.m. April 20, 2015 DC Legislative Update CEU: 3 hours DC (required) Instructor: Amy Klein Time: 1:30 – 4:30 p.m.

April 13, 2015 Veterans Administration (VA) Financing CEU: 3 hours MD and DC (elective) Instructor: James Semeyn Time: 2:00 – 5:00 p.m. * NAR Building/3rd Floor April 16, 2015 203K CEU: 3 hours MD, DC and VA (elective) Instructor: Scott Shelton Time: 9:30 a.m. – 12:30 p.m.

NOTE: All classes are held at GCAAR’s Rockville office unless otherwise noted.

affiliate list Need a Service? GCAAR Affiliate Members Can Help You GCAAR has over 180 Affiliates. Affiliates are non-REALTOR® professionals who are involved in real-estate related transactions such as settlements, house inspections, mortgage services, banking, insurance, and more. Below is a list of our current Affiliates. To contact an affiliate, or if you are interested in becoming an Affiliate, visit gcaar.com (Resources>Find An Affiliate). If there are any updates to this list, please send them to membershiprecords@gcaar.com.

Business

Contact

Office Phone Number

Affiliate Type

Foremost Appraisals & Realty

Folusho Bello

240-304-7782

Appraisal Companies

eAppraisal Group

Mary Garner Bremerman

301-570-6114

Appraisal Companies

J Hansen Appraisal Assc LLC

John Hansen

301-464-2878

Appraisal Companies

Chase Commercial Appraisal Division

Chad Harris

202-312-1160

Appraisal Companies

Roxann Novel Appraiser

Roxann Novel

800-232-7196

Appraisal Companies

Chase Commercial Appraisal Division

Carlos Ortiz

202-312-1160

Appraisal Companies

Chase Commercial Appraisal Division

Anna Pagi

202-312-1160

Appraisal Companies

Moses & Aiken, LLC/Home Team Title

Paul Aiken

301-468-0080

Attorneys

Shulman Rogers Gandal Pordy

Matthew Alegi

301-230-5200

Attorneys

Law Office of Mark A Bayer

Mark Bayer

202-466-4747

Attorneys

Bromberg Rosenthal LLP

Jonathan Bromberg

301-251-6200

Attorneys

Palisades Title Company

Steven Buckman

202-351-6100

Attorneys

Curtin Law Roberson Dunigan

Thomas Dunigan

202-530-3300

Attorneys

Andrew FitzGerald Atty at Law

Andrew FitzGerald

301-933-6550

Attorneys

Shaner & Helf LLC

Thomas Helf

301-913-9306

Attorneys

Shulman Rogers Gandal Pordy

Douglas Hirsch

301-230-5200

Attorneys

Jacobs & Associates

Harvey Jacobs

301-300-6252

Attorneys

The Law Offices of Jill Pogach Michaels

Owen Jarvis

240-425-0008

Attorneys

KVS Law

David Kanstoroom

301-605-1420

Attorneys

Kass Mitek & Kass PLLC

Benny Kass

202-659-6500

Attorneys

Jackson & Campbell PC

Roy Kaufmann

202-457-6710

Attorneys

Law Office of Arthur Konopka

Arthur Konopka

202-686-0600

Attorneys

Kayton & Kotz LLC

Daniel Kotz

301-770-4107

Attorneys

KVS Law

Lisa Lamphier

301-605-1420

Attorneys

Lasso & Lasso PC

Ricardo Lasso

202-537-0343

Attorneys

Richard W Lawlor PA

Richard Lawlor

301-340-2400

Attorneys

Shulman Rogers Gandal Pordy

Marc Lipman

301-230-5200

Attorneys

Greenstein DeLorme & Luchs PC

Richard Luchs

202-452-1400

Attorneys

Law Office of Robert McCarthy

Robert McCarthy

301-654-3730

Attorneys

The Law Offices of Jill Pogach Michaels

Jill Michaels

240-425-0008

Attorneys

Law Offices of David P Modell

David Modell

301-634-9820

Attorneys

Law Offices of Quinn O'Connell Jr

Quinn O'Connell Jr.

202-537-1820

Attorneys

Miles & Stockbridge PC

Stephen Orens

301-762-1600

Attorneys

Greenstein DeLorme & Luchs PC

Vincent Mark Policy, Esq.

202-452-1400

Attorneys

Bregman Berbert Schwartz Gilday LLC

Wendy Pullano

301-656-2707

Attorneys

Vaughn W Royal Attorney at Law

Vaughn Royal

202-895-1530

Attorneys

Samuelson Law Offices LLC

Kenneth Samuelson

202-494-0848

Attorneys

Paley Rothman Goldstein Rosenb

Linda Schwartz

301-656-7603

Attorneys

Siegel & Associates

P. Joy Siegel

301-907-8808

Attorneys

The Law Offices of Jill Pogach Michaels

Ben Silver

240-425-0008

Attorneys

CAPITAL AREAAREA REALTOR CAPITAL REALTOR•® •Jan/Feb May/Jun2015 2014 ®

For more information, or to become an Affiliate, visit gcaar.com

continued next page

29 29

affiliate list

Business

Contact

Office Phone Number

Affiliate Type

KVS Law

Marty Stanton

301-605-1420

Attorneys

Aaron Lee Stein Attorney

Aaron Stein

301-948-2383

Attorneys

Glazer Winston Honigman Ellick

L. Mark Winston

202-537-5500

Attorneys

Zanelotti Law PLC

Joseph Zanelotti

703-224-4402

Attorneys

Capital Area Realtors FCU

Tony Launi

240-314-0734

Credit Unions

Capital Area Realtors FCU

Olympia Overton

240-314-0734

Credit Unions

Building Specs

Gary Anderson

301-855-3337

Home Inspection Companies

Mid-Atlantic Inspection Srvcs

Alan Beal

202-403-7700

Home Inspection Companies

Pro Spex Inc

Glenford Blanc

301-675-8851

Home Inspection Companies

Building Inspector of America

Vimal Kapoor

301-916-0300

Home Inspection Companies

Alban Home Inspection Svcs Inc

Virginia Sulcer

301-639-4738

Home Inspection Companies

Faux Pa Home & Energy Services

Donald Wade

301-874-3821

Home Inspection Companies

Home Staging by Vivian LLC

Vivian Gilbert

301-802-5166

Home Staging Companies

Duffy Insurance Group LLC

Joe Duffy

301-384-5000

Insurance Companies

Duffy Insurance Group LLC

Mike Duffy

301-384-5000

Insurance Companies

Duffy Insurance Group LLC

Basim Tamami

301-384-5000

Insurance Companies

Home Snap

Stephanie Rall

202-537-0117

Media Services

Kessler Lending Advisors

Mark Baron

240-403-7233

Mortgage Companies

Caliber Home Loans

Jamica Browne

301-660-3292

Mortgage Companies

Kessler Lending Advisors

Seth Casner

240-403-7233

Mortgage Companies

Embrace Home Loans

Adriana Clapper

301-354-8279

Mortgage Companies

Embrace Home Loans

Charles Clapper

301-354-8279

Mortgage Companies

Movement Mortgage

Maria Clark

410-740-5250

Mortgage Companies

Embrace Home Loans

Tina Del Casale

301-354-8279

Mortgage Companies

Movement Mortgage

Marisa Delzoppo

410-740-5250

Mortgage Companies

Movement Mortgage

Scott Dillon

410-740-5250

Mortgage Companies

Apex Home Loan

Erin Finke

301-610-9600

Mortgage Companies

Home Savings & Trust Mortgage

Derek Harman

703-766-4634

Mortgage Companies

Prospect Mortgage

Cedric Johnson

540-882-4176

Mortgage Companies

First Home Mortgage

Christopher Jordan

301-562-9540

Mortgage Companies

SunTrust Mortgage

Charles Kemp

301-961-0903

Mortgage Companies

Kessler Lending Advisors

Cody Kessler

240-403-7233

Mortgage Companies

BB&T

Mike Kidwell

301-493-8917

Mortgage Companies

Corridor Mortgage Group Inc

Sara Lenes

301-443-5749

Mortgage Companies

First Home Mortgage

Brooke Lowry

202-448-0880

Mortgage Companies

FitzGerald Financial Group/Monarch Group

Evelyn Miller

240-403-1868

Mortgage Companies

Sandy Spring Bank

Jeffrey Nelson

301-617-4233

Mortgage Companies

Suntrust Mortgage Inc

Sean O'Boyle

301-961-0905

Mortgage Companies

Apex Home Loan

Michael Parsons

301-610-9600

Mortgage Companies

McLean Mortgage Corp

Alex Peters

240-800-4502

Mortgage Companies

SunTrust Mortgage

Russell Rothstein

301-961-0903

Mortgage Companies

Embrace Home Loans

William Rozek

301-354-8279

Mortgage Companies

First Home Mortgage Corp

Jacob Ryan

301-220-0999

Mortgage Companies

BB&T

Kari Sansom

301-493-8917

Mortgage Companies

HSBC

Michael Schimmel

202-203-0157

Mortgage Companies

BB&T

Daniel Shea

301-493-8917

Mortgage Companies

Sandy Spring Bank

Guy Silas

301-617-4233

Mortgage Companies

® CAPITAL 2014 2015 CAPITALAREA AREAREALTOR REALTOR• May/Jun • Jan/Feb ®

Business

Contact

Office Phone Number

Affiliate Type

Sandy Spring Bank

Kenneth Storck

301-617-4233

Mortgage Companies

First Savings Mortgage Corp

J. D. Teitelman

703-564-1746

Mortgage Companies

First Home Mortgage

David Toaff

301-657-1003

Mortgage Companies

First Home Mortgage

Travis Vollmerhausen

301-562-9540

Mortgage Companies

BB & T Mortgage

Patricia Widerman

301-590-2382

Mortgage Companies

Apex Home Loan

Brian Willingham

301-610-9600

Mortgage Companies

Corridor Mortgage Group Inc

Natalie Winter

301-443-5749

Mortgage Companies

First Washington Mortgage

Chanin Wisler

301-526-0020

Mortgage Companies

FitzGerald Financial Group/Monarch Group

L. William Woods Jr.

240-403-1868

Mortgage Companies

Perry Moving & Storage

Alvin Lewis

410-799-0022

Moving Companies

MD Dept of Housing & Community

William Ariano Jr.

410-514-7014

Other Real Estate Needs

Emerson Saul Realty

Nicole Gaymon

703-622-3783

Other Real Estate Needs

Beta Solutions F&BC LLC

Kevin Matthews

301-787-0782

Other Real Estate Needs

Rent the District

Hanna E McClain

202-210-0043

Other Real Estate Needs

Capitol Termite & Pest Control

Julio Gonzalez

301-657-4480

Pest Control Companies

Capitol Termite & Pest Control

Stanley Robinson

301-657-4480

Pest Control Companies

Agent Photos Online LLC

John Brueske

877-774-4720

Photographers

Columbia Property Management

Scott Bloom

888-857-6594

Property Management Companies

Britton PLLC

Lisa Britton

202-416-0121

Tax Consultants

Tax-Masters Inc

Linda de Marlor

301-230-0200

Tax Consultants

Exchange Solutions Group LLC

William Gessner

703-787-3893

Tax Consultants

Capitol Title Insurance Agency

Lisa Bosse

301-231-7250

Title Insurance Companies

Capitol Title Insurance Agency

Sara Demb Goldstein

301-231-7250

Title Insurance Companies

Capitol Title Insurance Agency

Stanley Goldstein

301-231-7250

Title Insurance Companies

Capitol Title Insurance Agency

William Splitgerber Jr.

301-231-7250

Title Insurance Companies

Logan Title

Kevin Anderson

202-400-2509

Title/Settlement Companies

Counselors Title LLC

Kathleen Asdorian

301-652-6615

Title/Settlement Companies

Counselors Title LLC

Briana Ayala

301-670-0100

Title/Settlement Companies

Avenue Settlement Corporation

Stephen Ballard

202-296-4500

Title/Settlement Companies

Village Settlements Inc

Carey Brennan

301-590-9300

Title/Settlement Companies

Monarch Title Inc

Katherine Brewer

202-546-3100

Title/Settlement Companies

District Title A Corp

Thomas Broullire

202-518-9300

Title/Settlement Companies

Settlement Professionals LLC

Carol Calomiris

202-363-1870

Title/Settlement Companies

Olde Key Title

Lynn Caudle Boynton

301-294-3333

Title/Settlement Companies

Village Settlements Inc

Leslie Childs

301-590-9300

Title/Settlement Companies

GPN Title Inc

Jessica Chipoco

301-294-4055

Title/Settlement Companies

Clarke Title LLC

Henry Clarke Jr.

301-840-8988

Title/Settlement Companies

Atlantic Closing & Escrow

Isadora Connor

202-730-2635

Title/Settlement Companies

Counselors Title LLC

Christopher Darby

202-686-0100

Title/Settlement Companies

District Title A Corp

Jeff Darrah

202-518-9300

Title/Settlement Companies

Pinnacle Title & Escrow Inc

Marie Daugherty

301-424-5400

Title/Settlement Companies

Settlementcorp

David Deckelbaum

202-537-0005

Title/Settlement Companies

RGS Title/Traditional Title

Anthony DeVol

301-654-9800

Title/Settlement Companies

ATG (Alltech Title Group)

Lawrence Elliott

703-934-2100

Title/Settlement Companies

Federal Title & Escrow Co

Todd Ewing

202-362-1500

Title/Settlement Companies

RGS Title

Suzanne Feinstein, Esq.

301-230-0070

Title/Settlement Companies

Main Street Settlements Inc

John Ferguson

301-570-3600

Title/Settlement Companies

Flynn Title

Gregory Flynn

301-545-0150

Title/Settlement Companies

CAPITAL AREA REALTORÂŽ â&#x20AC;˘ May/Jun 2014

affiliate list

Business

Contact

Office Phone Number

Affiliate Type

Olde Key Title

Grace Garrett

301-294-3333

Title/Settlement Companies

North American Title Co

Janelle Gaughan

202-237-8222

Title/Settlement Companies

Pinnacle Settlement Services

Cyndi Giraldo

866-441-4666

Title/Settlement Companies

GPN Title Inc

George Glekas

301-294-4055

Title/Settlement Companies

Pinnacle Settlement Services

Scott Goldschein

866-441-4666

Title/Settlement Companies

Title Town Settlements

Todd Greenbaum

301-580-2850

Title/Settlement Companies

Counselors Title LLC

James Griffin

202-686-0100

Title/Settlement Companies

ATG (Alltech Title Group)

Michael Gross

703-934-2100

Title/Settlement Companies

Village Settlements Inc

David Hahn

301-486-0799

Title/Settlement Companies

Corridor Mortgage Group Inc

Cara Harrison

301-443-5749

Title/Settlement Companies

Counselors Title LLC

Noreen Hathaway

301-670-0100

Title/Settlement Companies

Avenue Title Group

David Helfrich

202-296-4500

Title/Settlement Companies

Gemini Title & Escrow LLC

John Hodges

301-656-7733

Title/Settlement Companies

Village Settlements Inc

Michael Hollman

301-590-9300

Title/Settlement Companies

Village Settlements Inc

Adam Holmwood

301-486-0799

Title/Settlement Companies

Hutton Patt Title LLC

John Hutton

240-575-6333

Title/Settlement Companies

District Title A Corp

Amy Klein

202-518-9300

Title/Settlement Companies

Counselors Title LLC

Robert Kuczarski

301-670-0100

Title/Settlement Companies

Sage Title Group LLC

Bobby Lee

301-654-2560

Title/Settlement Companies

Closeline Settlements LLC

Elliot Liss

301-622-6000

Title/Settlement Companies

Pinnacle Title & Escrow Inc

Marci Maged

301-762-6757

Title/Settlement Companies

MBH Settlement Group LLC

Jill Messier

703-277-6800

Title/Settlement Companies

Sage Title Group LLC

Carrie Anne Messina

301-654-2560

Title/Settlement Companies

Moses & Aiken, LLC/Home Team Title

Robert Moses

301-468-0080

Title/Settlement Companies

Counselors Title LLC

Thomas Muldoon

202-686-0100

Title/Settlement Companies

Counselors Title LLC

Timothy Mullin

202-686-0100

Title/Settlement Companies

Confidence Title & Escrow

Vittorio Muzzatti

301-740-1880

Title/Settlement Companies

Counselors Title LLC

John Nalls

202-686-0100

Title/Settlement Companies

Sage Title Group LLC

Judith Nixon

301-670-2812

Title/Settlement Companies

Fenton Title Co

Louis Pettey

301-590-0220

Title/Settlement Companies

Peak Settlements LLC

Adam Polsky

301-528-1111

Title/Settlement Companies

Paragon Title & Escrow Co

Philip Raskin

301-986-1114

Title/Settlement Companies

Counselors Title LLC

Michael Ridgway

301-652-6615

Title/Settlement Companies

Paragon Title & Escrow Co

Randy Rothstein

301-986-1114

Title/Settlement Companies

Paragon Title & Escrow Co

Rob Rothstein

301-986-1114

Title/Settlement Companies

Stewart Title Group

R. Bradley Runyan

202-349-0220

Title/Settlement Companies

Champion Title & Settlements

Sadaf Saberi

703-444-4100

Title/Settlement Companies

Village Settlements Inc

James Savitz

301-590-9300

Title/Settlement Companies

Pinnacle Settlement Services

Heather Shai

866-441-4666

Title/Settlement Companies

District Title A Corp

Brendon Sheperd

202-518-9300

Title/Settlement Companies

Counselors Title LLC

Ellie Slater

301-652-6615

Title/Settlement Companies

Counselors Title LLC

Colleen Smyth Cogan

301-670-0100

Title/Settlement Companies

ATG (Alltech Title Group)

Mark Somerville

703-934-2100

Title/Settlement Companies

District Title A Corp

Marc Sushner

202-518-9300

Title/Settlement Companies

District Title A Corp

Steven Sushner

202-518-9300

Title/Settlement Companies

Logan Title

Patrick Tangney

202-400-2509

Title/Settlement Companies

Olde Key Title

Caryn Wetmore

301-294-3333

Title/Settlement Companies

CAPITAL AREA 2014 2015 AREAREALTOR REALTOR® • May/Jun • Jan/Feb ®

Real Estate’s Top Training Event! Special Guests

Nido Qubein High Point University’s President

Featuring

Brian Buffini

Les Brown Renowned author & speaker

Richmond Apr 1-2

Your best year ever starts now! At this 2-day event you’ll learn, you’ll laugh, you’ll get down to business with master motivator and real estate expert, Brian Buffini and his special guests!

Learn how to exponentially increase your profits each year

Plus, network with high-producing agents from all over North America!

Join us for the live event!

Tour sponsored by:

Only

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brianbuffini.com/richmond | 1-800-945-3485 x4 CAPITAL AREA REALTOR® • May/Jun 2014

Now appearing in a neighborhood near you.

When the most respected brand in the world, Berkshire Hathaway, puts its name on a real estate sign, that’s a good sign for the market and a great sign for you. Berkshire Hathaway HomeServices PenFed Realty is good to know. Get to know us at: penfedrealty.com

Good to know.

©2014 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. We are proud to be an equal employment opportunity employer: m/f/v/d.