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AUGUST 2016 T H E O F F I C I A L P U B L I C AT I O N O F T H E G R E AT E R TA M PA A S S O C I AT I O N O F R E A LTO R S ®

GTAR's Nominating Committee Announces Recommended Slate The Nominating Committee has interviewed the applicants for 2017 Officers and Directors and recommends the following candidates:

PRESORTED STANDARD US POSTAGE PAID TAMPA, FL Permit No. 2397

LEARN MORE ABOUT THE 2017 CANDIDATES

AUGUST 2016

IN THIS EDITION

Experience the CAP!

More exciting events are coming for the participants of the program. Page 2

Anand Patel President-Elect

Bob Pasquarello Vice President

Dan Hazy Treasurer

Diana Englehart Secretary

3 Ways to Keep Cool without AC

Living in an older home? No problem! Read more about alernative ways to keep the heat down. Page 4

Recommended Candidates Marvin Gordon Director

Lea Lagueux Director

Carl Shenning Director

Ellie Lambert Director

Ruth Bryson Director

READ THE FULL BIOS SUBMITTED BY THE CANDIDATES pg.12-13

Test Your Business By Taking a Vacation

The only way to test your business to see if it’s working – to see if it’s really profitable – is to take a break from your business. You’ve been in business for a few years now and everything is going well. You are hitting your numbers, achieving your goals, and you are making a mark in your local community. As a real estate agent you are always on. Your phone is always on. You are always on

CODE OF ETHICS

your email, and you are always ready and willing to take on the next client. But is that really the best way to run your business? Sure, you may be hitting your numbers, achieving your goals, and making a mark in your local commu n i t y, but is

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that all you are doing? These things are great to achieve on a micro level, but what are you missing on a macro level? The only way to test your business to see if it’s working – to see if it’s really profitable – is to take a break from your business. And what better way to take a break from your business than to take a vacation? Taking a vacation offers several benefits to both your personal life and your business. From a personal perspec-

• EDUCATION

pg.11

BY NICO HOHMAN YPN Member tive, taking a vacation is an excellent way to release stress, open your brain to more creative thinking, and immerse yourself in experiences that are new and that might even make you uncomfortable. Getting yourself out of your comfort zone is an

Consider these candidates when voting in the General Election. Page 5

Questions? We have your answers My last name is too long; may I omit it in the advertisement? Page 9

Tampa's remodel needs a name

The $2 billion real estate development still lacks an essential ingredient. Page 15

Candid Camera July 2016. Page 18

VACATION, Page 5

• MLS STATISTICS

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• AFFILIATES

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August 2016

Greater Tampa REALTOR® News

ABOUT GTAR

The Greater Tampa Association of REALTORS®, Inc. (GTAR) is the largest Tampa Bay-based professional association of real estate brokers and sales associates conducting business throughout the Bay. GTAR provides educational programs, ethical guidance and other services that enable licensed real estate professionals to help people buy and sell homes in the Greater Tampa area. For more information, please visit www.gtar.org

2016 OFFICERS

President Andy Joe Scaglione.....(813) 968-4996 President-Elect Joe Perez..........................(813) 264-7754 Vice President Mari Colgan..................... (813) 685-4936 Treasurer Sandra Streit...................(813) 343-8001 Secretary Norma Cohen................. (813) 992-5845 Immediate Past President Barbara Jordan...............(813) 962-0631 Chief Executive Officer Dennis MacDonald......... (813) 879-7010

2016 DIRECTORS

Diane Acken................... (813) 299-4758 Alma Alexander................(813) 727-1201 Ashley Christie................(813) 504-8812 Diana Englehart...............(813) 748-2165 Zoe Green...................... (813) 259-0000 Dan Hazy.......................... (813) 545-7372 Mary McCall....................(813) 294-4425 Jodi McKeithan.............. (813) 597-9670 Brad Monroe...................(813) 309-4488 Jack Rodriguez...............(813) 877-6388 Tom Scaglione............... (813) 310-8200 Francine Villa..................(813) 598-0844

REPRODUCTION

The Greater Tampa REALTOR® News is published monthly for members of GTAR in the interest of informing, promoting, and improving the real estate industry. With the exception of articles and materials from other publications reprinted in this newspaper, members and affiliate members of GTAR are hereby authorized to reproduce articles appearing in this newspaper, provided each such reproduction gives the following credit:

Reprinted from Greater Tampa REALTOR® News, Greater Tampa Association of REALTORS®.

THE REALTOR® MARK

REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict Code of Ethics.

ADVERTISING INFORMATION

For advertising information/sales, contact Mike Utaegbulam, Director of Communications at news@GTAR.net Advertising products or services herein shall not be construed to be a promotion, approval, or endorsement of those products or services by GTAR. All advertising is subject to the approval of the GTAR Board of Directors/Chief Executive Officer.

DISCLAIMER

Articles contained in this publication express the opinion of the author and not necessarily the opinion of GTAR.

HEADQUARTER INFO

Greater Tampa Association of REALTORS® 2918 W. Kennedy Blvd. Tampa, FL 33609 (813) 879-7010

STAY CONNECTED Find GTAR on the following social media outlets to stay connected with the latest news and events.

facebook.com/TampaGTAR twitter.com/TampaGTAR linkedin.com/company/gtar

www.GTAR.org

COMMERCIAL CORNER

Experience the Excitement of CAP The REALTOR® Commercial Alliance (RCA) at GTAR has more exciting events in store for those agents signed up for CAP (Commercial Ambassador Program). CAP is for agents interested in Commercial Real Estate sales but who lack Commercial sales experience or are currently Residential Real Estate agents. Must you have signed up for CAP to take part in some or all of the remaining events? NO! Agents who have not signed up for CAP can still take part in the Commercial learning activities (given space availability) except they are ineligible for the graduation luncheon and certificate that is presented to agents who sign up and completed this entire introductory Commer-

impact of the Center. He explained that the Intermodal Transportation Center is an approximate 4 hour truck ride to most warehouse locations in Florida. This means that truck drivers from Florida can haul goods from Winter Haven to the required destination in Florida and return home that evening. Fewer trucks from out-of-state are now on our highways due to this transportation advance. In 2015, almost 250,000 cargo containers were transported from rail to warehouse via truck. Plans to double this amount in the near future should encourage the sale of Industrial properties throughout Florida. After Mr. O’Malley’s presentation, the group received a tour of the college which has excellent technical and vocational training programs to train workers for jobs with now computer-based technology (farm equipment, metals lab, production labs, and even a 3D printing lab). What is next for CAP? In the next couple of months, CAP will offer its “do-not-miss” programs. On July cial Real Estate program. Please 27, CAP will hold its ‘circle-training’ join us! Note: some events require featuring experts in the field of Risk advanced registration and fees. Management and Due Diligence, folWhat was the latest commercial lowed by “Commercial Legal Update” excursion? On June 22, CAP partic- with Michael Boutzoukas, Esq. ipants arrived at GTAR early in the from Bay Area Real Estate Council. morning and boarded one of two commercial buses for a trip to Winter Haven to visit the CSX Intermodal Transportation Center. CSX is a very dynamic center. While there, we witnessed state-of-the-art advanced freight transportation. CSX provides railroad transportation for goods used throughout the United States from Chicago, San Francisco, New On August 31, CAP will hold a York and other locations. We saw bus tour of Pinellas County’s future ultra- efficient electric cranes (see development plans. Pinellas offers photo) which lift cargo containers an extraordinary quality of life, a off rail cars and place the cargo on relatively low cost of living, diverse the back of an 18-wheel truck bed. housing options and high-quality Truckers haul this cargo container to colleges and universities. Anchored a warehouse or manufacturing space. by the urban markets of Clearwater We traveled from CSX to Polk State and St. Petersburg, Pinellas has the College. While we enjoyed a delicious second largest base of manufacturing lunch in their auditorium (see photo) employment in Florida. Relocating Mr. Bob O’Malley, CSX Resident VP, businesses can move to Pinellas and presented a PowerPoint presentation expect to begin growing immediately. with details on the socio-economic

Learn more about the Commercial Ambassadors Program

www.gtar.org/education/cap

BY DIANE ACKEN REALTORS® Commercial Alliance Chair One of the stops we hope to make is the future home of the EB-5 Center in Pinellas County. An EB-5 Center is administered by the U.S. Citizenship and Immigration Services and provides an entrepreneurial program for non-U.S. citizens (and their spouse/ children under 21) to live in the United States and apply for a green card (permanent residence) if they: 1. Make the necessary investment in a commercial enterprise in the United States, and 2. Plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers within 2 years. Twin towers are being constructed next to the Hyatt at Pier 60 in Clearwater for the EB-5 Center. Come join us to see what is up and coming in commercial economic developments of Pinellas County. Do you have an interest in Commercial Real Estate sales? It is not unusual for any agent to be asked if they can help buy or sell a friend or relative’s business/store/apartment building. Remember that Commercial sales can be complicated and may lead to legal and financial trouble if you don’t understand the

law. The goal of CAP training is to help agents understand some of the complexities of Commercial sales and know when to refer the business to an experienced Commercial agent or find a mentor to guide you through a commercial transaction. Join the REALTORS® Commercial Alliance (RCA) at GTAR if you have interest in or practice Commercial Real Estate. You can help plan future CAP tours and expert panels. RCA meets the first Wednesday of each month at GTAR, 10:30AM.


www.GTAR.org

Greater Tampa REALTOR® News

August 2016

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REALTORS Conference &Expo ®

November 4 - 7 | Orlando, Florida

Don’t miss this opportunity! The 2016 REALTORS® Conference & Expo is THE place to get EDUCATED on the latest market trends from 100 education sessions – discover new INNOVATIONS changing real estate from 400 exhibitors – and CELEBRATE with 19,000 of the best and brightest minds in our industry. Better still, this year’s conference is in Orlando and Florida REALTORS® can attend the REALTORS® Expo for FREE! Choose the “Expo-Only” pass option, and then enter ORLANDO16 in the promo code box!

Register today at REALTOR.org/Conference

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August 2016

Greater Tampa REALTOR® News

www.GTAR.org

TIPS & ADVICE FROM NAR

The Worst Real Estate Advice Your Clients Hear As a real estate professional, you sometimes have to compete with well-intentioned friends and family members offering your clients some not-so-great advice from the sidelines. Most of that advice tends to be aimed at the pricing of the home, which may hinder your client discussions.

Realtor.com® recently highlighted some of the worst of that advice that real estate professionals say their clients recite to them, including: “Price the house based on what you paid, plus a little extra for profit.” “Price the house based on what you feel is right.” “Add the cost of renovations you’ve made to your price.” Sound familiar? It's

important that you set your clients straight and let them know that pricing a property shouldn’t be based on what their gut says or what they think it should be. A home’s list price should come from comps and square footage. You may need to step back and carefully explain to your clients the

importance of comps and why real estate professionals use them -- before just jumping right in to comp review mode and the price. Also, beware that home owners may sometimes hear advice to price their home higher, despite what the comps say. For example, they may hear: “Price your home high because buyers will come in low.” “‘Not in a hurry to sell?

Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission.

Price the home high’” Explain to them the dangers of pricing too high. “If a home is substantially overpriced, it’ll end up sitting on the market for a long time,” says Bill Golden with RE/MAX Metro Atlanta Cityside. If the house lingers on the market, buyers often start making low-ball offers. “In the end, these homes almost always sell for less than if they had priced it right to begin with.” Indeed, Tracey Hampson, a real estate professional in California, says “if a home is priced correctly, you will get full-price offers and even over-asking-price offers.”

3 Ways to Keep Cool Without AC Over 100 million Americans are expected to face a massive heat wave this weekend, and it's always a good idea to remind people living in older housing stock without air conditioning that there are easy ways they can stay cool even during the peak of summer temperatures. Houselogic recently shared some tips on how to beat the heat: Say no to sunlight. The first thing to do when temperatures rise is to limit the amount of sunlight into the home. Closing all of your home's blinds and drapes is an easy and effective fix to stay cool without AC. You can also buy high-reflectivity window film and put it on the home's east and west-facing windows. It may be worth it to install awnings on your home. According to Houselogic, awnings will "reduce solar heat gain by up to 77 percent." You can also DIY an awning by putting up sheets outside your windows, which may not be aesthetically pleasing but it is effective.

Get that air circulating. When living without air conditioning in the peak of summer heat, fans will be your best friend. An easy quick fix is to buy portable fans of all sizes and place them in the windows at night and wherever you need them the most during the day. You can add to the fun by putting bowls of ice water directly in front of the fan, which will give the blowing air a nice chill. If you need long-term fan solutions, consider buying ceiling fans or even a whole house fan, which will set you back $1,000 to $1,600, including the installation. When using a whole house fan, keep in mind you have to keep your windows open. Turn off appliances. It sounds simple, but it's true: even powering-down the appliances you're not using can cut the heat in a home. You'll also want to refrain from using appliances that generate the most heat during the time of day when its the hottest

2016 RPAC MAJOR INVESTORS

Andy Joe Scaglione Platinum R

Connie Johnson Golden R President's Circle

Barbara Jordan Golden R President’s Circle

Dennis MacDonald Sterling R President’s Circle

Brenda Rabbitt Sterling R President’s Circle

Jack Rodriguez Crystal R

Ric Barmes Sterling R Continued

Mary McCall Sterling R Continued

Brad Monroe Sterling R Continued

Don Walden Sterling R Continued

Susanna Madden Crystal R

Jeanette Yates Sterling R Continued


www.GTAR.org

RPAC MAJOR INVESTOR PROGRAM RPAC’s Major Investor Program consists of an elite and passionate group of REALTOR® investors who partner with NAR to shape the political future of the real estate industry. Members of the Major Investor Program are eligible to participate in the RPAC Recognition Program, with specific benefits and accolades that acknowledge their support of RPAC. With a minimum annual investment of $1,000, there are four levels within the RPAC Major Investor Program: Sterling R, Crystal R, Golden R and Platinum R.

Learn more at

www.gtar.org/RPAC

Vacation From Page 1

excellent way to get your life back in order or on a new track. From a business perspective, taking a vacation offers several important benefits. First, when you are working every day in your business it’s tough to plan two weeks into the future, let alone two years into the future. But when you stop working every single day, you can more clearly see what your future in the business will be like. Secondly, when you take a vacation it forces you to have systems in place to operate your business when you aren’t there. Realistically, you should plan a vacation a few weeks to a few months in advance so you can prepare for an extended absence. Let your clients and vendors know that you will be unreach-

Greater Tampa REALTOR® News

able for two (or hopefully more) weeks. Have your email and phone away messages set. Have a lead generation and project management system ready to go whenever a new or existing client has a pressing issue. And most definitely have someone you can rely on to help manage your business while you are out. Finally, when you take a vacation, it helps you realize who the people are that you really want to be working with. If you get three phone calls a day from a client or vendor whom you already made aware that you will be on vacation, it can be tempting to pick up the phone and answer their calls. But the best thing to do is not answer their calls. If, like in the previous step, you have all of your systems in place before you go, you should not need to answer a single phone call or email while you are away. And perhaps when you get back to working

August 2016

full time, it might be best to have a conversation with your clients and vendors about expectations and limitations that they should have for you and your business If you think that taking a vacation seems like an impossible task, you are most likely the best candidate to test your business and take a vacation. And once you’re on vacation, remember, taking business calls and checking your email while you’re away is not a badge of honor. It is nothing to be respected or bragged about. Honor your vacation time and it will pay you back in the long run.

RECOMMENDED CANDIDATES The following candidates are proudly recommended when voting in the August 30TH Primary Election:

$163,260

Current amount invested

$147,171.80

As of July 19, 2016 To contribute to Florida REALTORS® PAC, please visit

www.gtar.org/FLPAC Choose "Greater Tampa Assn" for the Contribution Board/Association field.

5

National Association of REALTORS® Recommendation Vern Buchanan, U.S. Representative - District 16

Florida REALTORS® Recommendations Edwin “Ed” Narain, State Senate – District 19 Rebecca Smith, Florida Representative – District 60 Sean Shaw, Florida Representative – District 61

Greater Tampa Association of REALTORS® Recommendations Susan Valdes, School Board Member – District 1 Cindy Stuart, School Board Member – District 3 Joe Robinson, School Board Member – District 5 Carl Hinson, Circuit Judge – Circuit 13, Group 3 Melissa Polo, Circuit Judge – Circuit 13, Group 24 Miriam Valkenburg, County Court Judge, Group 10 Additional recommendations will be forthcoming.


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August 2016

Greater Tampa REALTOR® News

www.GTAR.org

CODE OF ETHICS

ARTICLE 15

The Case Interpretations offer examples of the practical application of the Code in professional standards enforcement and help REALTORS® understand the ethical obligations created by the Code of Ethics. REALTORS® shall not knowingly or recklessly make false or misleading statements about other real estate professionals, their businesses, or their business practices. (Amended 1/12) STANDARD OF PRACTICE 15-1 REALTORS® shall not knowingly or recklessly file false or unfounded ethics complaints. (Adopted 1/00) Case Interpretation #15-1: Knowing or Reckless False Statements About Competitors REALTOR® A operated a residential brokerage firm in a highly competitive market area. He frequently used information from the MLS as the basis for comparative ads and to keep close track of his listing and sales activity as well as his competition. One day, while reviewing MLS data and comparing it to a competitor’s ad, REALTOR® A noticed that REALTOR® Z had used a diagram to demonstrate his market share, contrasting it with those of several other firms. The ad showed that REALTOR® A had listed 10% of the properties in the MLS over the past three months. REALTOR® A thought this was low. His analysis of MLS data showed his market share was 11%. REALTOR® A filed an ethics complaint

against REALTOR® Z citing Article 15 of the Code of Ethics in that REALTOR® Z’s “obviously understated market share claim” was a “misleading statement about competitors.” REALTOR® A’s complaint was considered by the Grievance Committee which determined that an ethics hearing should be held. At the hearing, REALTOR® Z testified he had always been truthful in his advertising and that all claims were based in fact. He produced an affidavit from the Board’s MLS administrator which indicated that a programming error had resulted in miscalculations and, after careful recomputation, REALTOR® A’s market share over the past three months had been 10.9%. The administrator’s statement noted that this was the first time that information related to REALTOR® A’s listings or sales had been misstated on the system. “I relied on information from the MLS. It’s always been accurate and I had no reason to even suspect it was wrong last month,” said REALTOR® Z in his defense. The Hearing Panel agreed with REALTOR® Z’s logic, noting that a REALTOR® should be able to rely on generally accurate information from reliable sources. They reasoned that if, on the other hand, the MLS had shown REALTOR® A

having, for example, 1% of the market, then REALTOR® Z’s reliance on the information would have been “reckless” because REALTOR® A had generally had a 10–15% market share and a reasonable conclusion would have been that the information from the MLS was seriously flawed. The Hearing Panel concluded that REALTOR® Z’s comparison with his competitors, while slightly inaccurate, was based

on usually accurate and reliable information and had been made in good faith and while technically “misleading,” had not been “knowing” or “reckless”. REALTOR® Z was found not to have violated Article 15. STANDARD OF PRACTICE 15-2 The obligation to refrain from making false or misleading statements about other real estate professionals, their businesses

and their business practices includes the duty to not knowingly or recklessly publish, repeat, retransmit, or republish false or misleading statements made by others. This duty applies whether false or misleading statements are repeated in person, in writing, by technological means (e.g., the Internet), or by any other means. (Adopted 1/07, Amended 1/12) CODE, Page 13

FLYER

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BER 7TH M TE P SE Y, A SD E N WED MARY’S URGER LOCATED AT HAMB MPA, FL 33605 1600 E. 7TH AVE., TA

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REALTORS® shall not knowingly or recklessly make false or misleading statements about other real estate professionals, their businesses, or their business practices.


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Greater Tampa REALTOR® News

August 2016

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August 2016

Greater Tampa REALTOR® News

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LIVING THE GOOD LIFE IS CLOSER THAN YOU THINK.

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Florida REALTORS®

ASK AN ATTORNEY

Q&A ADVERTISING QUESTION: I’m placing an advertisement for one of my listings in the local newspaper. The cost is based on the number of lines the advertisement occupies. I’m including my first name in the advertisement but would like to omit my last name because it’s very long. May I omit my last name in the advertisement? ANSWER: No. Rule 61J2-10.025(2), Florida Administrative Code, provides: “When the licensee’s personal name appears in the advertisement, at the very least the licensee’s last name must be used in the manner in which it is registered with the [Florida Real Estate] Commission.” The Florida Realtors Legal Hotline is a free benefit available to all members. Call: 407.438.1409. Hours are 9 a.m. - 4:45 p.m., Monday - Friday. The information and materials in this column are provided by Florida REALTORS® for general informational purposes only and are not intended to be legal advice. No attorney-client relationship is formed. Nothing in this column is intended to substitute for the advice of an attorney, especially an attorney licensed in your jurisdiction.

Greater Tampa REALTOR® News

August 2016

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WELCOME NEW MEMBERS Joni Albritton

Matthew Dubbaneh

Christie Langley

Debra Pulliam

Kyla Alley

Crystal Dukes

Heather Laszlo

Naz Qureshi

Brian Alvarez

Stacy Dunn

Julie Legner

Juan Ramirez

Joshua Alvarez

Daniel Dye

Pamela Linville

Patrick Rayford

Laura Amelina

Somaiah Eagam

Christa Long

Toni Reed

Jenny Andruss

Cash Ealey

Carlos Lopez

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Linda Badgerow

Chanta Ferrell

Stephanie Lowery

Veronika Rojas-Matiz

Tammy Bancroft

Cary Fletcher

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Marion Roland

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LaToya Floyd

Yenislei Machado

Paul Patrice Rolles

Harley Baxley

Shawn Foguth

Suyapa Martinez

Maxine Rosen

Todd Bennett

Sharon Galt

Cathy Mayhew

John Ryan

Jennifer Bintner

David Garcia

Rosa McCabe

David Sanchez

Craig Bishko

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Joseph McDonald

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Zulay Garcia

Christopher Metzger

Carol Shaw

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Michael Shorr

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Jason Shutt

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Mohamed Ghounem

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Laura Camp

Alicia Gonzalez

Grant Montney

January Silva

John Campbell

Giancarlo Graniglia

Luis Mora

Ryan Silva

Kenan Cano

Ashley Gray

Rosaura Mora

Sherri Southwell

Jose Cardenas

Christopher Griffin

Eugene Morales

Benjamin Spears

Manuel Cardozo

Cathy Griggs

Crystal Morrill

Colleen Sprague

Patricia Carmel

Jesse Gross

Gail Moss

Khalilah Steele

Katherine Carr

James Harrington

Mitesh Mundra

Jamie Stock

Samantha Castillo Salgado

Javonte Harris

Katherine Murray

Marchant Stokes

Michael Ceparano

Alveria Hawthorne

Carmen Negron

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Gary Hensley

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Melvin Lorray Cheshire

Dana Heston

Kimberly Newman-Moore

Catherine Swick

Hannah Cho

Nathaniel Holloway

Lee Nguyen

Marie-Therese Tochynski

Cynthia Chung

Barbara Hoye

Alicia Nolan

Holly Tomlin

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Kenneth Hoye

Teri North

Oly M Torres PA

Cliford Cineas

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Joseph Tucker

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Arzu Ozmeteler

Yaditzy Velasquez

Arielle Corinti

Kristina Jeter

Carmen Pagan Torres

Blake Wagner

Marina Cosgrove

Natalia Jimenez

John Paiva

Amy Wardwell

Brett Cottone

Ye Jin

Nicholas Palazzolo

Ariel Warren

Jeffrey Crow

Nathaniel Johnson

Sandra Pena

Lindsey Weitman

William Dalton

Rachel Johnson

Michael Pepper

Kaye Williams

Matthew Davenport

Dena Jones

Maria Perches

Rachel Willis

Tabitha Deas

Chant Karajian

Isabel Perez

Nicole Woodall

Amber DeFranco

Eugenia Keesee

Barbara Peterson

James Woods

Gary DeMatos

Joseph Keilholz

Chad Peterson

Shelley Wright

Alfred DeMellier

Raeann Keyser

Jennifer Porter

Monica DeSomma

Matthew Kirchner

Daniel Portera

Melissa Doenges

Dolores Koulias

Cindi Potsic

Special thanks to our July 8 and July 22, 2016 Orientation Sponsors

Nick Kolev, Esq


10

August 2016

Greater Tampa REALTOR® News

www.GTAR.org

CALENDAR AUGUST MONDAY, AUGUST 1  LS CMA Tools M 9:00AM - 12:00PM  LS Realist M 1:00PM - 2:30PM

TUESDAY, AUGUST 2  uxury Real Estate L 9:00AM - 12:30PM

WEDNESDAY, AUGUST 3  EALTORS® Commercial R Alliance Committee 10:30AM - 12:00PM  ommercial Pitch C 1:00PM - 2:30PM

THURSDAY, AUGUST 4  eneral Membership Meeting G 9:30AM - 11:30AM  ode of Ethics C 9:30AM - 12:30PM  EALTOR®/Attorney Committee R 9:30AM - 11:30AM

FRIDAY, AUGUST 5  overnmental Affairs G 9:30AM - 11:30AM  EALTORS® Political Actions R Committee (RPAC) 10:45AM - 12:15PM

MONDAY, AUGUST 8  LS Basic M 9:00AM - 12:00PM  ppraisal Task Force A 10:00AM - 11:30AM

MONDAY, AUGUST 8  LS Compliance 101 M 1:00PM - 2:30PM  LS Adding and Editing Listings M 3:00PM - 4:30PM  echnology Committee T 3:00PM - 4:30PM I nternational Council 3:00PM - 4:30PM

TUESDAY, AUGUST 9  oung Professionals Network Committee Y 10:00AM - 11:30AM  gent Slinghot Workshop Series: A Building a Real Estate Team 10:00AM - 12:00PM  echnology User Group T 5:30PM - 7:30PM

WEDNESDAY, AUGUST 10  ffordable Housing Committee (AHC) A 9:30AM - 11:00AM  now Your Numbers and Win Numbers K 9:30AM - 12:00PM  ffiliates/Business Partner Meeting A 10:00AM - 11:30AM  air Housing Committee F 11:00AM - 12:30PM  inance Committee F 1:30PM - 3:00PM

THURSDAY, AUGUST 11  ommunications Committee C 9:30AM - 11:00AM  n Espanol Administracion de Propiedades E para el Practicante de Bienes y Raices 9:00AM - 11:00AM

G  TAR Board/Committee Meetings E  ducational Opportunities M  LS Computer Classes THURSDAY, AUGUST 11  roperty Managers Task Force P 11:00AM - 12:00PM

FRIDAY, AUGUST 12  ew Member Orientation N 9:00AM - 1:00PM

MONDAY, AUGUST 15  oard of Directors Meeting B 9:30AM - 1:00PM  E Monitor Training C 12:00PM - 2:00PM

WEDNESDAY, AUGUST 17  LS Basic M 9:00AM - 12:00PM  LS Compliance 101 M 1:00PM - 2:30PM  LS Adding and Editing Listings M 3:00PM - 4:30PM  egal Lounge L 9:30AM - 11:00AM

THURSDAY, AUGUST 18  n Espanol Renovacion de Licencia E 9:00AM - 5:00PM  LS Searches, Reports, and Contact M Management 9:00AM - 12:00PM  rievance Committee G 9:30AM - 1:00PM

THURSDAY, AUGUST 18

Orientation Licensing/Renewal Class Special Events

FRIDAY, AUGUST 19  n Espanol Renovacion de Licencia E 9:00AM - 5:00PM  ew Member Orientation N 9:00AM - 1:00PM  rofessional Development Committee P (PDC) 10:00AM - 11:30AM

MONDAY, AUGUST 22  orking with the Appraiser W and the Consumer 1:00PM - 5:00PM

TUESDAY, AUGUST 23 1 4-Hour Licensing Renewal Course ALL DAY  ore Law C 9:00AM - 12:00PM 1 1-Hour Specialty for Licensing Renewal 1:00PM - 5:00PM

WEDNESDAY, AUGUST 24 1 1-Hour Licensing Renewal Course ALL DAY

MONDAY, AUGUST 29  gent Slinghot Workshop Series: A Communication and Follow-Up Plan 10:00AM - 12:00PM

WEDNESDAY, AUGUST 31  EALTORS® Commercial Alliance Training R ALL DAY

 LS The Mobile Agent M 1:00PM - 3:00PM

 roperty Management for the P Real Estate Practitioner 1:00PM - 5:00PM

The events, programs and meetings listed on this page are subject to change.

Please visit www.gtar.org/calendar for the most up-to-date information.

SEPTEMBER THURSDAY, SEPTEMBER 1  EALTOR®/Attorney Committee R 9:30AM - 11:30AM

TUESDAY, SEPTEMBER 6  ode of Ethics C 9:30AM - 12:30PM

WEDNESDAY, SEPTEMBER 7  EALTORS® Commercial R Alliance Committee 10:30AM - 12:00PM  ommercial Pitch C 1:00PM - 3:00PM  afe Business = Smart Business: S A REALTOR® Safety Training (TWO CLASSES) 9:00AM - 12:00PM 1:00PM - 4:00PM

THURSDAY, SEPTEMBER 8  LS Advanced Matrix M 9:00AM - 12:00PM  LS Intro to Transaction Desk M 1:00PM - 3:00PM

FRIDAY, SEPTEMBER 9  ew Member Orientation N 9:00AM - 1:00PM

MONDAY, SEPTEMBER 12

TUESDAY, SEPTEMBER 13  oung Professionals Network Committee Y 10:00AM - 11:30AM  ew Agent Boot Camp N 9:30AM - 4:30PM  PR: Property Data Resource R for REALTORS® 1:00PM - 4:00PM  echnology User Group T 5:30PM - 7:30PM

WEDNESDAY, SEPTEMBER 14  ody Language and B Other Negotiation Skills 9:30AM - 12:30PM  ffordable Housing Committee (AHC) A 9:30AM - 11:00AM  ffiliates/Business Partner Meeting A 10:00AM - 11:30AM  air Housing Committee F 11:00AM - 12:30PM  inance Committee F 1:30PM - 3:00PM

THURSDAY, SEPTEMBER 15  ore Law C 9:00AM - 12:00PM  rievance Committee G 9:30AM - 1:00PM  gent Slinghot Workshop Series: A Facebook Marketing 10:00AM - 12:00PM

FRIDAY, SEPTEMBER 16

 ppraisal Task Force A 10:00AM - 11:30AM

 rofessional Development P Committee (PDC) 10:00AM - 11:30AM

I nternational Council 3:00PM - 4:30PM

 ew Member Orientation N 9:00AM - 1:00PM

MONDAY, SEPTEMBER 19  oard of Directors Meeting B 9:30AM - 1:00PM

WEDNESDAY, SEPTEMBER 21  egal Lounge L 9:30AM - 11:00AM  ech Expo T ALL DAY

THURSDAY, SEPTEMBER 22  LS Basic M 9:00AM - 12:00PM  LS Compliance 101 M 1:00PM - 2:30PM

THURSDAY, SEPTEMBER 29  gent Slinghot Workshop Series: A Snapchat 10:00AM - 12:00PM  LS Compliance 101 M 1:00PM - 2:30PM  LS Adding and Editing Listings M 3:00PM - 4:30PM

FRIDAY, SEPTEMBER 30  ew Agent Boot Camp N 9:30AM - 4:30PM  LS Compliance 101 M 1:00PM - 2:30PM

 LS Adding and Editing Listings M 3:00PM - 4:30PM

FRIDAY, SEPTEMBER 23  ew Agent Boot Camp N 9:30AM - 4:30PM

TUESDAY, SEPTEMBER 27  LS CMA Tools M 9:00AM - 12:00PM  LS Realist M 1:00PM - 3:00PM

WEDNESDAY, SEPTEMBER 28  inancing and Marketing F Commercial Real Estate 9:30AM - 12:30PM  ommercial Legal Update C 1:00PM - 3:00PM

THURSDAY, SEPTEMBER 29  LS Basic M 9:00AM - 12:00PM

Not sure how to register for an event using our new system? Visit www.gtar.org/ my-gtar/instructions to watch a video tutorial!


www.GTAR.org

Greater Tampa REALTOR® News

August 2016

11

EDUCATIONAL OPPORTUNITIES

LICENSE RENEWAL Don’t lose your license! Meet the state’s continuing education requirements at GTAR. Fourteen hours of continuing education is required every two years for sales associates and brokers license renewal. This 2-Day course consists of 3-hours of Core Law and 11-hours of Specialty credit.

14-HOUR CLASS GTAR Members - $50 | Others - $60 CORE LAW ONLY GTAR Members - $20 | Others - $30 11-HOUR SPECIALTY GTAR Members - $30 | Others - $40 INSTRUCTOR:

Robert Gordon Bob Hogue Real Estate School

WHEN:

AUG. 23 & 24, 2016 9:00AM - 5:00PM

WHERE: GTAR AUDITORIUM 2918 W. Kennedy Blvd.

Working with the Appraiser & the Consumer EARN

4 CE

CREDITS

Learn more about the appraisal process! Real estate appraisal can be a universe unto itself, and oftentimes consumers (and even REALTORS®) are left with questions. This course will walk agents through the importance of a strong listing, how to use their newly-acquired appraising skills to help engage the prospect and convert them to a customer, and how to communicate effectively with the bank’s appraiser. REALTORS® participating in this course will learn that they can often get more involved in the appraisal process than they think, ensuring a great outcome for both them and their buyer.

WHEN:

AUGUST 22, 2016 1:00PM - 5:00PM

WHERE: GTAR AUDITORIUM 2918 W. Kennedy Blvd.

COST:

FREE for Members

Register online at www.gtar.org/calendar


12

August 2016

Greater Tampa REALTOR® News

www.GTAR.org

MEET THE CANDIDATES The following members have been recommended by the Nominating Committee to run for GTAR's 2017 Board of Directors. Read their bios below. The election to determine the 2017 Officers and Directors will begin electronically on September 19, 2016 at 12:01 a.m. and conclude on September 25, 2016 at 11:59 p.m. The full list of candidates can be viewed online, along with their "Consent to Serve" forms, at www.gtar.org/meet-the-candidates.

Anand Patel - Candidate for President-Elect Anand Patel is a local real estate developer, investor and broker/owner of a residential brokerage, NextHome Discovery, as well as a commercial sales, development and leasing firm, Pangea Realty Group. As a licensed REALTOR® for over 13 years, Anand is passionate about the real estate industry having served in various capacities at the NAR, Florida REALTORS® and at GTAR. Anand is a graduate of the prestigious Florida REALTORS® Leadership Academy, a founding member of the GTAR Young Professionals Network, has served on the board at GTAR, and currently serves on the board for Florida REALTORS®. Mr. Patel is currently chair of the GTAR REALTOR® / Attorney Committee, served as chair in 2015 for the Florida REALTORS® Business Trends & Technology Forum and serves on the NAR Federal Technology Policy Advisory Board. Anand is committed to helping “connect the disconnected” members at GTAR; creating a diverse, inclusive and collaborative environment for those wishing to get involved; and bringing forth innovative programming and resources to help GTAR members increase their productivity and profitability.

Bob Pasquarello - Candidate for Vice President I have been a member of GTAR since 2003. I am currently serving on the Professional Standards Committee, the REALTOR®/Attorney Committee, as Vice Chair of the Technology Committee, on the BOD of the REALTORS® Care Foundation and its Selection Committee as well as MFRMLS Board of Directors. I have served 2 terms on the GTAR Board, FR Board and other committees within our organization. I have served in various capacities on my local community’s HOA Board and on the Board of the Sun City Center Areal Real Estate Networking Association (ARENA). As Vice-President, my goals would be to protect and strengthen the foundation upon which GTAR was built by focusing on financial stability and operational efficiency, yet being open minded enough to embrace future changes that will benefit our members. Additionally, as a member of the Leadership Team, to present unanimity with the Board of Directors and, finally, to support the agenda of the current GTAR President.

Dan Hazy - Candidate for Treasurer Dan has been a member of GTAR since 2002. Since that time Dan has served on many committees; Building, Professional Standards, Grievance, Strategic Planning, Technology, Bylaws, Nominating, RPAC, Governmental Affairs, and 4 years on the Finance committee. Dan has also served on committees at the regional and state level, and currently serves as Director for MFRMLS and Florida REALTORS®. Dan attends FL REALTORS® conventions in Orlando and Great American REALTORS® Days in Tallahassee. Dan’s background prior to 2001 includes 16 years as Operations Manager, responsible for inventory control, security, leasing, finance, for a billion dollar computer company. Dan’s goals as Treasurer will be to oversee the members funds and insure they are accounted for and spent wisely as GTAR expands the services and facilities used by our members. Also, by staying focused on changes in our industry and being in front of the technology curve, our members will be well prepared to meet the challenges and opportunities that face our industry.

Diana Englehart - Candidate for Secretary Diana Englehart is a Licensed Broker and Director of Recruitment, Training, Development and Compliance for Tomlin St Cyr Real Estate. She is involved with GTAR and Florida REALTORS® serving on the following committees and appointed positions: Currently serving as a Director for the GTAR Board, 2016 Installation Chair, 2016 Grievance Committee, Young Professional Network since 2013 and 2015 YPN Chair, Governmental Affairs since 2013 and since 2014 RPAC and Chili Subcommittee, 2013 Int’l RE Council and REALTOR®/ Attorney member. Diana is a graduate of the 2014 District 6 Leadership Institute and Honor Society recipient since 2014. Attended Great American REALTOR® Days since 2013 and a Florida REALTOR® Director since 2014. Diana also serves on the BOD for Habitat for Humanity of Hillsborough, Chair of the Real Estate Committee and member of the Home Owner Committee. Her commitment is to represent the members with the highest level of integrity, maintain diverse concepts and ideas, and to keep a close eye on the future of real estate as it relates to member opportunities.


www.GTAR.org

Greater Tampa REALTOR® News

August 2016

13

Marvin Gordon - Candidate for Director Marvin Gordon earned his Master of Arts Degree in Real Estate Management from Webster University. He is principal broker of Sun Bay Realty, LLC in Brandon, FL. Marvin is certified as a Circuit Civil Mediator by the Supreme Court of Florida. He is a licensed Real Estate Instructor with considerable expertise in real estate finance, asset management and mediation. Notable is his involvement as a committee member of Greater Tampa Association of REALTORS® Government Affairs Committee 2-years; RPAC Committee 2-years; Professional Standards Committee 1-year; Grievance Committee 1-year; Commercial Alliance Committee 2-years; Orientation Committee 1-year; Orientation Facilitators 1-year; Communications Committee and Chili Subcommittee 2-years; Property Managers Task Force 1-year; REALTOR® Builder Expo Committee 1-year. Marvin is also active with the Institute of Real Estate Management as a CPM Candidate.

Lea Lagueux - Candidate for Director Graduated from the University of South Florida with a BA in Anthropology. All my working life has been in the construction and real estate industries – from Zurn Industries Cooling Tower Division, building cooling towers for nuclear power plants to Morse Diesel, owners’ representatives for projects including Raymond James Stadium and Tampa’s Ice Palace and home builders Westfield Homes and Richmond American Homes. I’ve served the industries that I worked in by volunteering as a Parade of Homes Judge (Naples, Tallahassee and Sarasota / Manatee) and committee member and co-chair of the REALTORS®/Builder Expo for several years. After becoming a REALTOR® I served as committee member and chair of the Technology committee, and on the Affordable Housing, Professional Development and International Council Committee (currently co-chair). I’m also an active member of the Women’s Council of REALTORS®, currently serving as VP of Membership. I care sincerely about the professional image and public perception of REALTORS®.

Carl Shenning - Candidate for Director

Carl started his career in real estate with Florida Design Communities at Sun City Center in 1997 as a Community Sales Representative from September of 1997 – September of 2003. From September of 2003 through November of 2008 he served as the Director of Sales and VP of WCI Realty in Sun City Center and Ashley Farms in Ocala. Following his departure from WCI Communities he opened his own real estate company, Cando Real Estate Services, and maintained it until his joining BHHS Florida Realty in December of 2014. Carl has been very involved with the Greater Tampa Association of REALTORS® and Florida REALTORS® since joining the Association serving on the following committees and appointed positions: Vice-Chair Awards Committee, Chairman of Communications Committee, Communications Committee Vice Chair, RPAC Extravaganza Subcommittee Member, Governmental Affairs Committee Member, REALTORS®/Attorney Committee Member, Communications Committee Member, Orientation Committee Facilitator…Florida REALTORS®: Great American REALTOR® Day Attendee and Florida Realtor Director.

Ellie Lambert- Candidate for Director

Ellie Lambert has been a licensed real estate agent since 1993, and became a member of GTAR in 1998. She became the Broker and Owner of Ellie & Associates Realty in 2003. Her passion for helping others has made it possible for her to help create successful marriages between buyers and sellers over the years, while putting the clients needs and desires at the forefront of satisfying their dreams. Ellie has been a member of the Women’s Council of REALTORS®, the Governmental Affairs Committee and REALTOR® Political Action Committee (RPAC) for many years and has become even more involved as of late. In 2015 she became a member of the REALTOR®/Attorney Committee, GTAR Awards Committee, and was the Co-Chair of RPAC. This year she adds the Chair on the RPAC and FR Director to her list. These experiences have given her the knowledge to stand out as a leader in our field and a platform to lobby for homeowner and REALTOR® rights to our governmental leaders within the state and Washington D.C. Ellie has also been an active participant in the Tampa Bay community over the years by serving on The Krewe of the Nautilus since 2002, being the secretary of the home owner’s association of Hammock Oaks Reserve in 2007, as well as being a licensed notary republic and member of The National Association of Notary’s since 2000.

Ruth Bryson - Candidate for Director Ruth joined GTAR in 2001 after serving over 23 years in the U.S. Army where she achieved the rank of Lieutenant Colonel. She worked as a REALTOR® with a large brokerage until 2012 when she established Bryson International Realty, LLC. Served as 2013 Chairman of Tampa Bay International Real Estate Council. Appointed as National Association of REALTOSR® President’s Liaison to El Salvador since 2014. Member of Global Alliances Advisory Board since 2014. Strong believer in the value of education. Earned BS and MBA degrees. Designations and certifications include: CIPS, CRS, GRI, SRES, TRC, AHWD and CDPE. My Goals are to promote and encourage use of GTAR benefits, programs and services, use my background and experience in plans, programs, policies and procedures to maintain and enhance the great reputation of GTAR and to work with other boards and affiliates to offer programs to increase professionalism and profitability of members. Committed to serving with respect and integrity.


14

August 2016

Greater Tampa REALTOR® News

www.GTAR.org

MLS STATISTICS

JUNE 2016

Monthly Market Detail - June March April May 2016 2016 2016 Single Family Homes Hillsborough County

Monthly Market Detail - June 2016 Single Family Homes Hillsborough County Month

Summary Statistics

April June May 2016 2016

March 2016 1,718 1,815 February 2016 1,893 January 2016 356 406 375 December 2015 $207,545 $224,500 $229,000 November 2015 October 2015 $268,525 $258,980 $285,597 September 2015 $487.4 Million $444.9 $540.6 August 2015

Sales The number of Closed Sales during the monthClosed in which Paid in Cash buyers exclusively paid in cash Median Sale Price

Average SaletoPrice Economists' note : Cash Sales can be a useful indicator of the extent which investors are participating in the market. Why? Investors are Dollar Volume far more likely to have the funds to purchase a home available up front, July 2015 Medianother Percent of Original whereas the typical homebuyer requires a mortgage or some 96.8% 97.7% June 2015 97.4% List Price Received form of financing. There are, of course, many possible exceptions, so May 2015 this statistic should be interpreted with care. 26 Days 28 Median Time to ContractApril 2015 30 Median Time to Sale

2012

800

2013

200

1,571 1,488 1,393

2015 1,553 1,642 1,511

-4.2% -4.3% -7.8%

2,115 2,158 2,085

2,046 2,026 2,053

3.4% 6.5% 1.6%

Pending Inventory

2,565 2,520 2,322

2,775 2,811 2,560

-10.4% -7.6% -9.3%

Inventory (Active Listings)

5,119 5,233 5,266

5,423 5,513 5,611

-5.6% -5.1% -6.1%

Months Supply of Inventory

3.4

3.9

-12.8%

29.8% 1,499 1,516 1,214 4,646 27.9% 1,646 1,499 1,516 26.4% 1,783 1,646 1,499 1,535 27.7% 1,869 1,783 1,646 $180,000 28.6% 1,586 1,869 1,783 29.5% 1,639 1,586 1,869 $229,063

June April 2015 March May 2015 2015 $261,305

Average Sale Price

Dollar Volume 2014 2014 20142014

50% 1,500 40%

Median Percent of Original List Price Received

1,000 30% 20% 500 10% 0% 0

$1.2 Billion Billion 2015 2015 2015$1.1 2015 95.9%

0.9%

Median Time to Contract

29 Days

37 Days

-21.6%

Median Time to Sale

77 Days

84 Days

-8.3%

3,677 3,285 New FPending JJ FF M MMAAAM MMJJJ JJJJ JAAA ASSS O DD JDJJ FFJFM M M AM MM J J J JAAAJSSSA OOON M AA AMM JSales J JJ M JAJAJSASO JAS ASO NJ O ND DJS DJFO M FJ NM FADM A -10.7% AJ F M SOO N ONNDN F AAM AJ JM SNND ODDJNJ FJDFM JM FM A JSON AONDSNDJODJFNJFMDFMAM JAMAFMJ MJJ JAJA M J SO AN JM 5,083

New Listings

4,931

3.1%

Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.

5,298 5,692 -6.9% Pending Inventory Data released on Thursday, Friday, MayJuly Wednesday, 20, April June 21, 2016. 22, 20, 2016. 2016. 2016. Historical Historical Historical Historical data data revised data data revised revised revised on on Friday, on Friday, onFriday, Friday, February February February February 26,26, 2016. 26, 26, 2016. 2016. 2016. Dollar Dollar Dollar Dollar Volume Volume Volume Volume revised revised revised revised on on April on April onApril 15, April 15, 2016. 15, 15,2016. 2016. 2016. Next Next data Next data release data release release is Wednesday, is Wednesday, is Thursday, Friday, June May August July 22, 20,21, 2016. 24, 2016. 2016. Inventory (Active Listings)

12,955

14,260

-9.2%

Months Supply of Inventory

3.3

3.9

-15.4%

Closed Sales

Month

Monthly Market Detail - June 2016 The number of sales transactions which closed during Townhouses the month and Condos Hillsborough County

Economists' note : Closed Sales are one of the simplest—yet most important—indicators for the residential real estate market. When comparing Closed Sales across markets of differentSummary sizes,Statistics we recommend comparing the percent changes in sales rather than the number of sales. Closed Sales (and many other market Closed metrics) are Sales affected by seasonal cycles, so actual trends are more accurately Paid in Cash represented by year-over-year changes (i.e. comparing a month's sales to the amount of sales in the same month in the previous year), Medianrather Sale Price than changes from one month to the next.

Average Sale Price

Closed Sales

5,000

2012

2013

June 2016 May 2016 April 2016 March 2016 February 2016 January 2016 December 2015 June 2016 November 2015 October 2015 496 September 2015 216 August 2015

4,647 4,429 4,212 4,156 3,287 2,710 3,900 June 2015 3,056 3,765 527 3,827 261 4,031

July 2015 $139,000 June 2015 $166,545

4,467 $124,000 4,646 $163,774

2014 Dollar Volume

4,000

Closed Sales

2015 $82.6 Million $86.3 Million

Median Time to Contract

22 Days

31 Days

-29.0%

Median Time to Sale

66 Days

77 Days

-14.3%

1,000 0

0.8%

607

558

8.8%

Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.

Data released on Thursday, July 21, 2016. Historical data revised on Friday, February 26, 2016. Dollar Volume revised on April 15, 2016. Next data release is Wednesday, August 24, 2016.

670

743

-9.8%

Inventory (Active Listings)

1,132

1,309

-13.5%

Months Supply of Inventory

2.5

3.1

-19.4%

Pending Inventory

Closed Sales

Month

Monthly Distressed Market - June 2016 The number of sales transactions which closed during Single Family Homes the month Hillsborough County

June 2016 May 2016 April 2016 March 2016 February 2016 Economists' note : Closed Sales are one of the simplest—yet most January 2016 important—indicators for the residential real estate market. When December 2015 comparing Closed Sales across markets of different sizes, we June 2016 November 2015 recommend comparing the percent changes in sales rather than the number of sales. Closed Sales (and many other market metrics)Closed are Sales October 2015 1,734 affected by seasonal cycles, so actual trends are more accurately September 2015 Traditional represented by year-over-year changes (i.e. comparing a month's Median sales Sale Price August 2015$238,280 to the amount of sales in the same month in the previous year), rather July 2015 than changes from one month to the next. 109 Closed Sales June 2015

Closed Sales

Percent Change Year-over-Year

496 520 497 433 340 332 472 June 2015 382 425 1,536 491 443 $230,094 499 527 261

-5.9% 17.9% 2.9% -10.4% -10.1% 11.4% Percent Change 8.5% Year-over-Year 13.4% -2.5% 12.9% 24.9% 2.3% 3.6% 5.3% 20.0% -58.2%

$125,000

23.2%

72

-30.6%

10% 0%

2,000

2012

2013

2014 Median Sale Price

500

Closed Sales

400

$154,0002015 50

Short Sale

300

Median Sale Price

200

$145,000

$124,250

16.7%

100 0

J F M A M J 2012 J A S O N D J F M A M J 2013 J A S O N D J F M A M J J2014 A S O N D J F M A M J J 2015 A S O N D J F MA M J

Traditional

Foreclosure/REO

Short Sale

Produced by100% Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.

Data released on Thursday, July 21, 2016. Historical data revised on Friday, February 26, 2016. Dollar Volume revised on April 15, 2016. Next data release is Wednesday, August 24, 2016.

90% 70% 60% 50% 40% 30%

500 J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J

Cash Sales as a Percentage of Closed Sales

June 2016 May 2016 April 2016 March 2016 February 2016 January 2016 Month December 2015 Economists' note : This statistic is simply another way of viewing November 2015 June 2016 Cash Sales. The remaining percentages of Closed Sales (i.e. those not October 2015 May 2016 The of Closed Sales during in which paidnumber fully in cash) each month involved somethe sortmonth of financing, such as September 2015 April 2016 mortgages, owner/seller financing, assumed loans, etc. buyers exclusively paid in cash August 2015 March 2016 July 2015 February 2016 June 2015 January 2016 Economists' note : Cash Sales can be a useful indicator of the extent to December 2015 2012 2013 Why? Investors are2014 which investors are participating in the market. November 2015 60% far more likely to have the funds to purchase a home available up front, October 2015 50% whereas the typical homebuyer requires a mortgage or some other September 2015 40% form of financing. There are, of course, many possible exceptions, so August 2015 30% this statistic should be interpreted with care. July 2015 20% June 2015 10%

Cash Sales

0% 400

25.2% 27.4% 30.0% 31.2% 36.4% 36.6% 31.9% Cash Sales 36.5% 216 33.8% 238 33.7% 215 34.1% 207 33.9% 164 33.0% 168 201 2015 187 194 238 211 245 261

Percent Change Year-over-Year

-23.6% -21.9% -12.8% -15.9% -15.3% -15.9% Percent Change -13.3% Year-over-Year -6.2% -17.2% -11.7% 3.0% -14.2% -16.7% -9.5% -17.2% -4.2% -23.4% -9.6% -2.9% -10.7% 8.1% -17.4% 3.9% -5.4% -1.6% 15.0%

J F M A M J2012 J A S O N D J F M A M J2013 J A S O N D J F M A M J2014 J A S O N D J F M A M J2015 J A S O N D J F M A M J

Produced by Florida 300 REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.

Data released on Thursday, July 21, 2016. Historical data revised on Friday, February 26, 2016. Dollar Volume revised on April 15, 2016. Next data release is Wednesday, August 24, 2016.

200 100 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J

Cash Sales as a Percentage of Closed Sales

Month

Percent of Closed Sales Paid in Cash

Percent Change Year-over-Year

43.5% 45.8% 43.3% 47.8% 48.2% 50.6% 42.6% June 2015 49.0% 45.6% 432 48.5% 47.6% $137,000 49.1% 49.5% 82

-12.1% -12.6% -18.9% -7.7% -14.8% -12.9% Percent Change -17.6% Year-over-Year -4.5% -15.4% 3.7% -16.8% -7.6% 5.8% -6.5% -4.3% -57.3%

Monthly Distressed Market - June 2016 The percentage of Closed Sales during the month Townhouses Condos which wereand Cash Sales Hillsborough County

June 2016 May 2016 April 2016 March 2016 February 2016 January 2016 December 2015 June 2016 Economists' note : This statistic is simply another way of viewing November 2015 Cash Sales. The remaining percentages of Closed Sales (i.e. those not October 2015 448 Closed Sales paid fully in cash) each month involved some sort of financing, such as September 2015 mortgages, owner/seller financing, assumed loans,Traditional etc. August 2015 $145,000 Median Sale Price July 2015 35 Closed Sales June 2015 80%

2012

Foreclosure/REO 2013

60%

Median2014 Sale Price Closed Sales

$72,000

2015 $70,550

2.1%

13

13

0.0%

$54,000

$85,000

-36.5%

Short Sale

40%

Median Sale Price

20% 0%

2012

2013

2014

2015

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J

Traditional

Foreclosure/REO

Short Sale

Produced by100% Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.

Data released on Thursday, July 21, 2016. Historical data revised on Friday, February 26, 2016. Dollar Volume revised on April 15, 2016. Next data release is Wednesday, August 24, 2016.

90% 80% 70% 60% 50% 40% 30% 20% 10% 0%

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J

$160,000

$300,000

$140,000

$250,000

ce

$120,000

ce

Percent of Closed Sales Paid in Cash

Month

Monthly Market Detail - June 2016 The percentage of Closed Sales during the month Townhouses Condos which wereand Cash Sales Hillsborough County

10%

$200,000

2015

1,000

0

20% 0%

-28.8% -25.3% -17.5% -14.6% -24.2% -22.3% Percent Change -10.0% Year-over-Year -23.7% -17.9% -14.6% -22.1% -9.6% -18.2% -12.4% -4.8% -11.2% -2.1% -9.7% -13.2% -11.1% -6.0% -8.0% -4.5% 2.5% 22.3% 15.6%

Data released on Thursday, July 21, 2016. Historical data revised on Friday, February 26, 2016. Dollar Volume revised on April 15, 2016. Next data release is Wednesday, August 24, 2016.

Closed Sales

Closed Sales

80%

2014

Percent Change Year-over-Year

Produced by1,500 Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.

Pct. of Closed Sales Paid in Cash

Closed Sales

2012

2013

18.8% 20.7% 23.6% 25.2% 26.9% 29.2% Cash Sales 27.1% 1,171 27.1% 1,212 25.8% 1,263 26.6% 1,295 29.8% 1,196 27.9% 991 26.4% 1,245 2015 1,115 1,273 1,291 1,374 1,515 1,535

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J

Foreclosure/REO

600

Percent of Closed Sales Paid in Cash

Month

Cash Sales

J F M A M J J A S O N D J F M A M J J A S O N D JNew F M A M JSales J A S O N D J F M 422 A M J J A S O N D J F M A M -9.4% J 466 Pending

New Listings

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J

Monthly Market Detail - June 2016 Single Family Homes Tampa-St. Petersburg-Clearwater MSA

-4.3%

2,000

96.0%

-27.8% -14.6% -13.2% -12.0% -20.4% -18.7% -9.6% -19.2% -15.9% -11.0% 8.4% 20.3% 9.6%

2015

June 2016 The percentage of Closed Sales during the month May 2016 April 2016 which were Cash Sales March 2016 February 2016 January 2016 Month December 2015 Economists' note : This statistic is simply another way of viewing June 20162015 November Cash Sales. The remaining percentages of Closed Sales (i.e. those not May 20162015 October The number of Closed Sales during the month in which paid fully in cash) each month involved some sort of financing, such as April 2016 2015 September buyers exclusively paid in cash mortgages, owner/seller financing, assumed loans, etc. March 2016 August 2015 February July 20152016 January 2016 June 2015 Economists' note : Cash Sales can be a useful indicator of the extent to December 2015 which investors are participating in the market. Why? Investors are 2012 2013 2014 November 2015 far60% more likely to have the funds to purchase a home available up front, October 2015 50% whereas the typical homebuyer requires a mortgage or some other September 2015 40% of financing. There are, of course, many possible exceptions, so form August 2015 30% this statistic should be interpreted with care. July 2015 20% June 2015

0.0% 9.6% 3.8% 4.2% 4.9% 7.4% Percent Change 2.3% Year-over-Year 0.3% 4.3% -5.9% 11.3% -17.2% 13.4% 27.5% 12.1% 27.6% 1.7%

3,000

96.8%

356 375 406 409 348 296 413 329 391 398 491 498 493

200

Cash Sales as a Percentage of Closed Sales

Percent Change Year-over-Year

Median Percent of Original List Price Received

2014

Percent Change Year-over-Year

400

0

14.1%

96.8%

2013

Cash Sales

600

Pct. of Closed Sales Paid in Cash

Economists' note : Closed Sales are one of the simplest—yet most important—indicators for the residential real estate market. When comparing Closed Sales across markets of differentSummary sizes,Statistics we Economists' note : This statistic is simply another way of viewing recommend comparing the percent changes in sales rather than the Cash Sales. The remaining percentages of Closed Sales (i.e. those not Salesare number of sales. Closed Sales (and many other market Closed metrics) paid fully in cash) each month involved some sort of financing, such as affected by seasonal cycles, so actual trends are more Paid accurately in Cash mortgages, owner/seller financing, assumed loans, etc. represented by year-over-year changes (i.e. comparing a month's sales Medianrather Sale Price to the amount of sales in the same month in the previous year), than changes from one month to the next.

Pct. Closed of Closed Sales Sales Paid in Cash

August 2015 November September October 2015 2015 2015 4,647 July 2015 August September October 2015 2015 2015 June2015 2015 July August September 20152015 1,171 May 2015 2015 June July August 2015 2015 April2015 May June July 2015 2015 $210,000

-14.6% 14.4% 4.8% 1.3% -24.2% 14.4% 3.0% 4.8% -22.3% 5.3% 3.0% 4.8% -10.0% 5.0% 5.3% 3.0% -17.9% 0.4% 5.0% 5.3% -22.1% -1.6% 0.4% 5.0% Percent Change -1.6% 7.8% 0.4% -18.2% Year-over-Year -4.8% -1.6% 8.9% 7.8% 0.0% -2.1% 13.6% 8.9% 7.8% -13.2% 22.9% 13.6% 8.9% -23.7% -14.2% 26.3% 22.9% 13.6% 16.7% -21.0% 14.2% 26.3% 22.9% -21.1% 19.5% 14.2% 26.3% 14.1%

2012

800

Cash Sales

Tampa-St. Petersburg-Clearwater MSA

2013 2013 2013 2013

Percent Change Year-over-Year

25.2% 1,718 1,815 1,893 26.9% 1,623 1,718 1,815 29.2% 1,296 1,623 1,718 27.1% 1,015 1,296 1,623 27.1% 1,522 1,015 1,296 25.8% 1,214 1,522 1,015 June 2015 26.6% 1,516 1,214 1,522

Month

The number percentage of sales of Closed transactions Sales during whichthe closed month during Single Family Homes which the month were Cash Sales

2012 2012 2012 2012

Percent of Closed Closed Sales Sales Paid in Cash

May 2016 June April March 2016 2016 February March April May 2016 2016 2016 2016 January February March April 2016 2016 2016 2016 December January February March 2016 2016 2016 2015 January 2016 November December February 2016 2015 October 2015 November December January 2016 2015 June 2016 September October November December 2015 2015 2015

June 2016 May 2016 April 2016 March 2016 February 2016 January 2016 December 2015 November 2015 October 2015 September 2015 August 2015 July 2015 June 2015

Economists' note : Cash Sales can be a useful indicator of the extent to which investors are participating in the market. Why? Investors are far more likely to have the funds to purchase a home available up front, whereas the typical homebuyer requires a mortgage or some other form of financing. There are, of course, many possible exceptions, so this statistic should be interpreted with care.

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

Cash Sales as a Percentage of Closed Sales Closed Sales Monthly Market Detail - June 2016

60% 2,000

498 96.4% 96.3% 493 439 39468 41 37 Days

Month

The number of Closed Sales during the month in which buyers exclusively paid in cash

Pct. of Closed Sales Paid in Cash

0

86465 87 Days

-12.0% 14.4% 4.8% 1.3% -20.4% -18.7% -13.2% -14.6% -27.8% -9.6% 10.0% 11.2% 6.4% -19.2% -15.9% 8.4% 10.2% 7.0% -11.0% 24.0% 12.2% 11.6% 8.4% 20.3% 1.3% 0.4% 1.1% 9.6% -2.2% -33.3% -26.8% -24.3% -5.6% -1.3% -13.8% -10.5% -10.3%

Cash Sales

Cash Sales

Cash Sales

400

2014

409 1,869 1,639 1,586 348 296 468 439 493 413 $204,000 $195,000 $206,000 329 391 $247,729 $242,038 $259,131 398 $392.9 $396.7 $484.3 Million 491

Percent Percent Change Change Year-over-Year Year-over-Year

New Listings

New Pending Sales

600

March 2015 78 77 Days 75

Cash Sales April June 2015 May 2015

Cash Sales

Cash Sales

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J


www.GTAR.org

Greater Tampa REALTORÂŽ News

August 2016

15

LOCAL NEWS The plan to reshape Tampa still lacks one key thing: a name BY JUSTINE GRIFFIN, Tampa Bay Times Staff Writer

Next month, $35 million worth of infrastructure and roadway construction will begin on the project that will transform downtown Tampa. Roads will be extended, sidewalks widened and more on-street parking will be added. But the $2 billion real estate development, which was launched by Tampa Bay Lightning owner Jeff Vinik and has been in the planning stages for five-plus years, still lacks an essential ingredient. A name. Without that, people and news reports have resorted to calling it the "Jeff Vinik project." That has led to complaints that his name alone doesn't reflect the partnership behind the project: Vinik and Microsoft founder Bill Gates' Cascade Investment firm, which have formed the project's developer Strategic Property Partners. But branding experts say a name for the project would solve that problem and give it a greater sense of identity. "How do you Google it? Without a name it means every and any bit of information related to the project is scattered. A name brings it all together," said Stephanie Darden, president at Prismatic in Orlando, a branding and marketing firm that specializes in real estate development. "A name is hyper-critical to everything and anything that's going to happen next." Officials with Strategic Property Partners offered little insight into when they will announce a name. "SPP believes that the project — what it is, the experiences that happen here, the community it creates — should dictate the brand, not the other way around," said Ali Glisson, vice president of marketing and communications at SPP. She said that the name will come along as the rest of the project does and that SPP "wants to be thoughtful about the brand and identity of the project." Vinik has referred to the project as the "Waterfront District" in the past. Renderings and early blueprints from December 2014 called the 40-acre site "The Waterfront."

But neither name has ever been used to describe the project in a formal way. It probably won't be named after the neighboring Channel District. And Channelside's Bay Plaza, which Vinik also owns, will probably get a new name, too. "We'll come up with a name for it," Vinik said in an interview with the Tampa Bay Times this week. "We've already had discussion with naming the district and it'll happen at the appropriate time. We've been slow on that, but let's get the experts' feel for the district before we jump in." The thirst for a name for the project is nothing new. In January 2015, the Tampa Bay Times polled readers for suggestions on what to name Vinik's project. Among the suggestions were Waterside and SoDo (for South of Downtown). "They're being very generic with how they refer to the project now, which means the media is driving the local vernacular for what it's called," Darden said. That has caused some confusion. SPP oversees the development of the entire 40 acres of Tampa's urban core. But there are a number of affiliate LLCs and holding corporations under the SPP umbrella. While many news reports have referred to the downtown Tampa development as the Vinik project, "Vinik-Ville" was in style back in 2014, but was quickly snubbed because Vinik didn't like it. More recently it has been called the "Vinik-Cascade project," noting the two major owners involved. But officials with Cascade have never spoken publicly about the project and their offices are at the opposite end of the country in Seattle. Other Tampa Bay developments have named their projects far earlier in the process. Soho Capital developers announced plans to redevelop the 43-acre Armature Works waterfront property last month with a name, a logo and lots of images

that helped give the property a sense of place even though work had yet to begin. The Heights is a mixed-use waterfront property just north of downtown Tampa near Water Works Park and Ulele. The project will begin construction on an apartment building and unique events and food hall inside the former trolley barn this summer. Encore, a $425 million project of mixed public-private housing, had a name and entire theme for the 40-acre development before construction began in 2011. The main street is named Ray Charles Boulevard, one of many tributes to the long-standing African-American communities that once thrived there. It's where the Cotton Club once stood and jazz artists like Ella Fitzgerald and Duke Ellington performed in the 1940s. After five years of talking about Vinik's big plans, it's no wonder residents are eager to know more. "There's a certain level of uncomfortableness we have as consumers. We're ready for more details and a name now. But it's a very complex project that goes way beyond what the typical consumer can understand," said Nancy Walker with Tampa-based Walker Brands, a marketing agency that has developed brand strategies for companies such as Disney and Lennar. "The goal is to have some stickiness to it. It's more memorable if the developer can show how this name relates back to the whole vision of the project." SPP is charged with turning Tampa's urban core into a walkable and sustainable downtown for residents to live, work and play. Certainly, developers are busy trying to lure a Fortune 500 company headquarters or major regional office. They're still trying to nail down the operator of a second 400-room hotel that will be

built downtown to complement the Tampa Marriott Waterside Hotel & Marina, which Vinik already owns. And they want to land an urban supermarket, too. In between securing those pivotal tenants, SPP real estate developers will build condos, apartments, office space, parks, restaurants and storefronts. "Our hotel endeavors are still intact. We still plan to put a hotel on the west lot as we've been talking about. We've been deliberate because we want to make good decisions," Vinik said. "But we're getting there. And on office tenants I would say the same thing. We have some very exciting prospects. We're talking to major companies here with major operations in Tampa, or to bring major operations to Tampa, and we think that'll play out real well over the coming months." As those plans progress, there are a couple of reasons why SPP could be holding out on a name. "They could be leveraging a potential sponsor for the name of the development like you see with partnerships on sporting arenas or sports districts," Darden said. "There are advantages to keeping it internal. That way they control the timeline of it and keep stakeholders appeased and engaged in the process before announcements are made. It just comes down to how much control they're willing to relinquish and how transparent they want to be." But Darden says there is benefit to working with the community to come up with a name, too. "It's a magical opportunity to engage the community early on and get them behind the project by asking their input," Darden said. "There's also value in releasing it early and building upon the sentiment of the people who want to be a part of this place. They will help build a brand for you."

Copyright The Tampa Bay Times. Reprinted with permission.


16

August 2016

Greater Tampa REALTOR® News

www.GTAR.org

AFFILIATE BUSINESS PARTNERS

Affiliates are excited about all the upcoming changes! Our last meeting was filled with plenty of exciting announcements. The 2016 board approved construction based improvements for our building. While construction can get in the way, the end result will benefit all of us with a more functional, brighter and user friendly building. Plans for more parking and better access are also in the

works. This does mean that some upcoming classes and events had to be postponed due to the improvements. Check your emails to ensure your sponsored events are still being held according to the schedule. The EXPO is one of the events being re-scheduled, but don’t you worry we are planning an even bigger and better EXPO for 2017.

Getting to Know your Affiliate Business Partner

A GTAR Affiliate can learn more about the workings of GTAR by volunteering for the various committees, special groups and/or task forces. A pamphlet “Why Volunteer” is available which gives a brief description of their functions. Communications is one such committee, it develops a public relations communications program

to enhance the public image, promotes professionalism and education. Find a committee you would like to join. It is true that one person can make a difference, you may be that difference. Remember if it is to be it is up to me. Our affiliate website is up and running and looks amazing! Please go check it out and share

BY FRANCINE VILLA Affiliates Business Partners Chair

your comments with us! We Affiliate Business Partners work hard at GTAR to support the REALTOR® Care Foundation who is working hard to help first time homebuyers, what a great TEAM!

Look for the Affiliate e-newsletters every Wednesday for upcoming sponsorship opportunities.

Our August Affiliate Business Partner spotlight is Kelly Collier with Service First Home Loans Service First Home Loans is a 20 year old lender from Dallas, Texas. I work with a team of 6 here in the Westshore area. Together, we opened the first Tampa Location in May of this year. The team at Service First will take the highest level of care in handling your clients. We offer a variety of residential products to meet the needs of your diverse client base. We currently are at 25 days from application to closing, for purchase loans. 98% of our files are underwritten within 24 hours. Also we average 15 business days from Application until Clear to Close. Plus our CDs are sent out at least 5 Days before Closing. The team here at Service First is very excited to be a part of GTAR and we look forward to working with you in the future. I have been in the financial services industry for over 13 years, I first became passionate about the mortgage industry in 2013 when I purchased my first home. When I’m not helping finance dreams, I enjoy in living in Plant City with my husband and 3 year old daughter. We devote much of our free time to working with the youth ministry at our church.

Visit & Like our Facebook Page: facebook.com/GTARAffiliates

Welcome to our Newest Affiliate Business Partners BLT Inspections Brandon Testone Priority1 Protection Sylvester Hills Enterprise Title Cinthya Jorge Virginia Youngman

COPSync Christopher Wiand Geoffry Sey

Service First Home Loans Chuck Barnes Jim Reed Chad Zwolinski Kristin Ward Kelly Collier Shawn Kelly Carrington Mortgage Kristen Vanderlaan Tammy McDaniels Susan Harvey Chris Musso US Inspect Wayne A. Sundmacher


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MY FLORIDA REGIONAL MLS CALENDAR MLS CMA TOOLS AUGUST 1 • 9AM-12PM This class reviews all of the MFR products and services that can be useful to agents when searching for comparable properties or compiling CMAs. MLS REALIST AUGUST 1 • 1PM-3PM This class provides a comprehensive overview of the Realist tax system. The first half of the class covers the various reports available for a particular property. The second half of the class is devoted to searching in Realist. MLS BASIC AUGUST 8 • 9AM-12PM AUGUST 17 • 9AM-12PM This course gives new MFRMLS participants and subscribers a basic overview of MFR products and services, along with a general tour of how the various functions of Matrix will benefit them in their real estate business. Navigation and basic functionality such as searching, utilizing map tools, reading a broker synopsis, adding and managing contacts, saving searches and setting up auto emails will be covered. MLS COMPLIANCE 101 AUGUST 8 • 1PM-2:30PM AUGUST 17 • 1PM-2:30PM This is a mandatory class for all new members to be completed within 60 days of joining. Existing members must complete the class every two year period. In this class you will learn about the My Florida Regional MLS Rules and Regulations and the compliance procedure for accuracy of Listing Data, along with additional educational materials available on MFRMLSUniversity.com. MLS ADDING AND EDITING LISTINGS AUGUST 8 • 3PM-4:30PM AUGUST 17 • 3PM-4:30PM This class is mandatory if you will be adding and modifying listings in the MLS (but all agents are welcome to attend!). This class offers a comprehensive overview of the process to properly add a listing to the MLS and walks through each part of the add/edit tab in Matrix. The class also covers how to edit listings, change the status on listings, and add photos, attachments, and open house information. MLS SEARCHES, REPORTS, AND CONTACT MANAGEMENT AUGUST 18 • 9AM-12PM This class will give you a great overview of how to search in Matrix and get the most of out of your search results! MLS THE MOBILE AGENT AUGUST 18 • 1PM-3PM The real estate profession is becoming increasingly mobile, and it is becoming critical for agents to be able to conduct business from any device. This class reviews the mobile tools that My Florida Regional MLS offers its customers

Greater Tampa REALTOR® News

Code From Page 6

Case Interpretation #15-2: Intentional Misrepresentation of a Competitor’s Business Practices Following a round of golf early one morning, Homeowner A approached REALTOR® X. “We’ve outgrown our home and I want to list it with you,” said Homeowner A. “I’m sorry,” said REALTOR® X, “but I represent buyers exclusively.” “Then how about REALTOR® Z?,” asked Homeowner A, “I’ve heard good things about him.” “I don’t know if I would do that,” said REALTOR® X, “while he does represent sellers, he doesn’t cooperate with buyer brokers and, as a result, sellers don’t get adequate market exposure for their properties.” Later that day, Homeowner A repeated REALTOR® X’s remarks to his wife who happened to be a close friend of REALTOR® Z’s wife. Within hours, REALTOR® Z had been made aware of REALTOR® X’s remarks to Homeowner A earlier in the day. REALTOR® Z filed a complaint against REALTOR® X charging him with making false and misleading statements. REALTOR® Z’s complaint was considered by the Grievance Committee which determined that an ethics

hearing should be held. At the hearing REALTOR® Z stated, “I have no idea what REALTOR® X was thinking about when he made his comments to Homeowner A. I always cooperated with other REALTORS®.” REALTOR® X replied, “That’s not so. Last year you had a listing in the Multiple Listing Service and when I called to make an appointment to show the property to the buyer, you refused to agree to pay me.” REALTOR® Z responded that he had made a formal offer of subagency through the MLS with respect to that property but had chosen not to offer compensation to buyer agents through the MLS. He noted, however, that the fact that he had not made a blanket offer of compensation to buyer agents should not be construed as a refusal to cooperate and that he had, in fact, cooperated with REALTOR® X in the sale of that very property. In response to REALTOR® Z’s questions, REALTOR® X acknowledged that he had shown his buyer-client REALTOR® Z’s listing and that the buyer had purchased the property. Moreover, REALTOR® X said, upon questioning

August 2016

17

by the panel members, he had no personal knowledge of any instance in which REALTOR Z had refused to cooperate with any other broker but had simply assumed that REALTOR® Z’s refusal to pay the compensation REALTOR® X had asked for was representative of a general practice on the part of REALTOR® Z. The Hearing Panel, in its deliberations, noted that cooperation and compen-

sation are not synonymous and though formal, blanket offers of cooperation and compensation can be communicated through Multiple Listing Services, even where they are not, cooperation remains the norm expected of REALTORS®. However, to characterize REALTOR® Z’s refusal to pay requested compensation as a “refusal to cooperate” and to make the assumption and subsequent statement that REALTOR® Z “did not cooperate with buyer agents” was false, misleading, and not based on factual information. Consequently, REALTOR® X was found in violation of Article 15.

Women’s Council of REALTORS®

Business Resource Meeting "Google – Show Me the Money!” Learn how to leverage the Google platform to increase revenue 5-10% a year...or more! GUEST SPEAKER:

Barry Carroll

Google Trusted Photographer, Google Trusted Verifier and Google Local Guide.

Thursday, August 18, 2016 Program: 11:30 a.m. - 1:45 p.m.

Maggiano’s Little Italy

203 Westshore Plaza • Tampa, FL 33609

Cost: $25. Register online at www.WCRTampa.com


18

August 2016

Greater Tampa REALTOR® News

www.GTAR.org

CANDID CAMERA NAVIGATING THE HILLSBOROUGH COUNTY

PROPERTY APPRAISER'S MOBILE SITE

RECOMMENDED CANDIDATES

JULY 25, 2016


ATTENTION BROKERS! www.GTAR.org

Greater Tampa REALTOR® News

August 2016

19

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August 2016

Greater Tampa REALTOR® News

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View all available inventory at LennarTampa.com Pictures of homes are for illustrative purposes and should not be relied upon. Specific features in home may vary and we reserve the right to substitute elevations, equipment, materials, appliances and brand names of equal or higher value, in our sole opinion and without notice. All maps are not to scale and are for relative location purposes only. Please see your New Home Consultant and actual home purchase agreement for pricing and features designated as an Everything’s Included® feature, additional information, disclosures and disclaimers related to the home and its features. +The information from Builder 100 is used or reprinted with permission from Hanley Wood Media, Inc. Void Where Prohibited By Law. Copyright © 2016 Lennar Corporation, LLC. All Rights Reserved. Lennar, the Lennar logo, Everything’s Included, Everything’s Included logo, Knowology and the Knowology logo are registered service marks or service marks of Lennar Corporation and/or its subsidiaries. CGC1518166. (06/16)

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