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REAL ESTATE

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MORTGAGE

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APPRAISAL

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INVESTMENT

frontrunner SCHOOL

4023 East Grant Road l Tucson, AZ 85712 520/327-6849 l 800/794-1390 info@hoganschool.com

www.HoganSchool.com 2012

JANUARY / FEBRUARY

Learn how to use RPR to increase your sales REALTORS Property Resource™ (RPR) NAR’s Gold – Standard Automated Valuation Model (AVM) for REALTORS® REALTORS Property Resource provides REALTORS® with data on every parcel of property in the United States as well as a robust portfolio of market trend data, advanced analytical reports and detailed maps. Owned by NAR, RPR is a NAR member benefit that is only available to REALTORS® there is no consumer access.

Read more about RPR on page 3

RPR includes:

• • • • •

Public record and tax assessment information Details of prior transactions and sales history Zoning, permits, mortgage and lien data FEMA flood maps, neighborhood and school district boundaries The largest database of foreclosure information, by county, in the industry

Taught by Jim Hogan and Jonna Douglas Tuition: $35 3 hours General credit

TWO DATES TO CHOOSE FROM: Friday January 20, 2012 9am – 11:50am Wednesday February 22, 2012 9am – 11:50am

Renewal Class Schedules on on Pages 6 thru 11


January/February 2012

Š2012 Hogan School of Real Estate

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REALTORS Property Resource™(RPR) (continued from front page)

The RPR robust national database, along with enhanced search and reporting capabilities, empowers REALTORS® to provide detailed information to their clients and customers. The enhanced search features allow nationwide property searches, as well as market-tomarket comparisons. RPR merges MLS/CIE-provided information with this robust catalog of publicly available data, while also incorporating psychographic and lifestyle information, all in one place. Imagine a single-source national compilation of public information that provides all the facts on over 147 million U.S. residential and commercial properties, for the exclusive use of NAR’s members. That’s RPR!

RPR and BPOs RPR can also play an important role in helping agents create Broker Price Opinions (BPOs) by providing extremely robust analytical tools for preparing property valuations. Combined with the training received through the Broker Price Opinion Resource (BPOR) certification, agents may be well-positioned to take advantage of new business opportunities from BPOs.

Learn More As of July 2011, RPR had executed agreements with more than 300 MLSs, representing over 518,000 REALTORS®. To learn more about RPR and find out if your MLS has signed up yet, visit www.blog.narrpr.com .

What can you do with RPR? REALTORS® can use RPR as a powerful time-saving tool that generates impressive market reports for clients. Options include:

n Historical charts for each property that layer in years of transaction and financing activity, assessed value, loan balances and default recordings, along with other relevant trends and facts.

n Advanced geospatial searching can be used to generate map overlays, including market trends and demographics.

n High-touch valuation tools allow agents to leverage their personal knowledge of the local market to create the most accurate analysis available.

n Refine values further with your knowledge of condition, curb appeal, and distressed or enhanced property features.

n Use the home improvement calculator to create localized return-on-investment analysis to typical and custom remodels.

n Generate market-to-market analyses and demographic reports which can be used with all levels of relocating clients, from anywhere in the country. Use these and other reports to create a personal library of market information including market forecasts, trends, sales analytics, property details…all branded to you. January/February 2012

©2012 Hogan School of Real Estate

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FROM CONTRACT TO CLOSING…the devil is in the details with Betsy Branyan Learn how to take a fully executed contract and convert it into a successful, smooth closing! This course will emphasize seller, buyer and agent responsibilities during the closing process including specific tasks and document review with some easy tech tips. This class has a special emphasis upon meeting your clients expectations during what can be a highly stressful period for all parties.

Thursday, January 26, 2012 11am – 1:45pm Tuition $25 3 hours Contract Law Credit

Betsy Branyan has 30 years of experience as a successful Broker in AZ, The Northeast and Midwest, specializing in corporate client development and as a relocation specialist. She is from a family steeped in the Real Estate Business and brings to the classroom a seasoned perspective on how to navigate the escrow period with minimal surprises and high client satisfaction to maximize client retention.

Take Charge of your Career – Get your Broker’s License! There are more benefits to becoming a Broker than owning a real estate company. If you have 3 years as an active licensed sales person – now is a great time to take yourself to the next level. Here are some reasons for obtaining your broker’s license: • It is the most recognized real estate designation. • It is recognized as a specialty in the real estate industry. • You can advertise on your cards and marketing materials Broker or Associate Broker, and set yourself apart from the competition.

• You want to be the specialist. The law of marketing is “if you can’t be first in an area, be a specialist in the area.”

Obtaining your broker’s license can open many doors to your future.

March 8TH – April 13TH Thursday & Friday

8:45am - 4:30pm

Tuition $625 and includes: • The Hogan “Study Smart” workbook, which makes passing • • • • • • January/February 2012

the test easy. 3-hour BROKER MANAGEMENT CLINIC (required by ADRE to activate broker license) 5% discount for Hogan bookstore items In class & take home quizzes to get you test ready. Six months to complete the course & the opportunity to take the course again at no extra charge. Instructors who are very accessible for answering questions. Office staff who will assist you with submitting necessary Department of Real Estate paperwork.

©2012 Hogan School of Real Estate

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DICK’S COMMUNICATION CORNER

The Born Salesman! I believe strongly that there is no such thing as “a born salesman”. I have worked with people who possessed all the knowledge needed to be successful but failed because they didn’t know how to communicate effectively with the person in front of them. I have witnessed failure by the wizards of speech who had no one to tell their story to. Success in sales starts by coming to the conclusion that obtaining the knowledge, developing the skill and creating the desire are all within your control. You have the power of choice and in choosing the path of life you can choose to be reactive or proactive. Being proactive means we are responsible for our own lives. I am what I am today because of the choices I made yesterday. If I want to be somewhere else in life I need to make the choices that will move me there. If we make our lives a function of our conditions we become reactive. Reactive people are affected by their physical environment. If the weather is good, they feel good. If it isn’t it affects their attitude and their performance. Proactive people can carry their own weather with them. Whether it rains or shines, it makes no difference to them. Reactive people are also affected by their social and psychological environment. When people treat them well, they feel well; when people don’t, they become defensive or protective. Proactive people are also influenced by their social and psychological environment, but their response is a value based choice response. The question you need to ask yourself is: Am I proactive or reactive in my self talk?

Proactive Self Talk • • • • • •

Let’s look at our alternatives. I can choose a different approach. I will seek out the necessary training and support. I will look for opportunities. I choose to put out the extra effort. I will.

Reactive Self Talk • • • • • •

There’s nothing I can do. That’s just the way I am. I don’t have the skill. It’s the market. I just can’t. If only.

To achieve success and fulfillment in sales you have to develop the habit of proactively taking the initiative. You put extra effort into things that you can do something about. You become skilled in communicating a compelling need for your services. You look for opportunities that will separate you from the masses. You develop the skill to communicate the importance of pricing a property to sell in the current market conditions. You develop the skill to create such a powerful relationship with the client, that within a short period of time, 80% to 90% of your business is coming from referrals. January/February 2012

©2012 Hogan School of Real Estate

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JANUARY 2012

RENEWATHONS 4023 East Grant Road (one block East of Alvernon)

6 EVENINGS + 2 DAY CLASSES Tue Jan 10, 2012

Agency: Duties, Responsibilities & Disclosure

6pm - 8:50pm

Richard Koevary

3 Agency Law

Thu Jan 12, 2012

Fair Housing: Do’s & Don’ts

6pm - 8:50pm

Dan Carapellucci

Tue Jan 17, 2012

*Private Water Wells

6pm - 8:50pm

Gary Hix R.G, CWD/PI

Thu Jan 19, 2012

The 4 Sides of Disclosure

6pm - 8:50pm

Jim Strong

Tue Jan 24, 2012

Solving Short Sales & REO Contract Issues – NEW CLASS!

6pm - 8:50pm

Cheryl Terpening ABR, CRS, GRI

Thu Jan 26, 2012

Broker Management Clinic

6pm - 8:50pm

George Jenson

3 Commissioner’s Standards

Sat Jan 28, 2012

Beginning Residential Real Estate Investment

3 General

8am - 10:45am

George Jenson

Sat Jan 28, 2012

Agency Case Studies

11am - 1:45pm

Jim Strong

3 Fair Housing 3 RE Legal Issues 3 Disclosure 3 Contract Law

3 Agency Law

3 Day Renewathon – Does NOT include Broker Management Clinic Thu Jan 26, 2012

2011 Code of Ethics with Case Studies

8am - 10:45am

Mike Mulvena

3 Commissioner’s Standards

Thu Jan 26, 2012

From Contracts to Closing – NEW CLASS!

3 Contract Law

11am - 1:45pm

Betsy Branyan

Thu Jan 26, 2012

How to Buy Tax Liens

2:30pm - 5:15pm

Jim Hogan

Fri Jan 27, 2012

Valuing Residential Property Using Appraisal Techniques

8am - 10:45am

Michael Ashurst

Fri Jan 27, 2012

Risk Reduction: Avoiding E & O Claims

11am - 1:45pm

Lisa Robinson

Fri Jan 27, 2012

Lessons in Diversity

2:30pm - 5:15pm

Cheryl Terpening ABR, CRS, GRI

Sat Jan 28, 2012

Beginning Residential Real Estate Investment

8am - 10:45am

George Jenson

Sat Jan 28, 2012

Agency Case Studies

11am - 1:45pm

Jim Strong

3 RE Legal Issues 3 General 3 Disclosure 3 Fair Housing 3 General 3 Agency Law

*Indicates approved for Appraisal Continuing Education credit. January/February 2012

©2012 Hogan School of Real Estate

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FEBRUARY 2012

RENEWATHONS 4023 East Grant Road (one block East of Alvernon)

6 EVENINGS + 2 DAY CLASSES – Does NOT include Broker Management Clinic Thu Feb 9, 2012

Pricing Properties Right

6pm - 8:50pm

George Jenson

3 Agency Law

Tue Feb 14, 2012

Solving Short Sales & REO Contract Issues - NEW CLASS!

6pm - 8:50pm

Cheryl Terpening ABR, CRS, GRI

Thu Feb 16, 2012

Understanding Water Availability, Use Law

6pm - 8:50pm

William DeStefano

Tue Feb 21, 2012

Fair Housing Do’s & Don’ts

6pm - 8:50pm

Dan Carapellucci

3 Contract Law 3 Disclosure 3 Fair Housing

Thu Feb 23, 2012

2011 Code of Ethics with Case Studies

6pm - 8:50pm

Mike Mulvena

3 Commissioner’s Standards

Sat Feb 25, 2012

Disclosure & Risk Reduction

3 Disclosure

8am - 10:45am

Cheryl Terpening ABR CRS GRI

Sat Feb 25, 2012

Protect and Promote Your Client’s Interest by Forming a Business Partnership

11am - 1:45pm

3 RE Legal Issues

Dick Martin

Tue Feb 28, 2012

Foreclosures, Trustee Sales, Short Sales and Deficiencies

6pm - 8:50pm

Timothy Remick, Esq.

3 RE Legal Issues

3 Day Renewathon Thu Feb 23, 2012

Asset Protection for Real Estate

8am - 10:45am

Mark Valentine, Esq.

Thu Feb 23, 2012

Broker Management Clinic

11am - 1:45pm

George Jenson

3 Commissioner’s Standards

Thu Feb 23, 2012

Exchanging, Case Studies & Contracts

3 Contract Law

2:30pm - 5:15pm

Cyndi Merodias

Fri Feb 24, 2012 8am - 10:45am

* How to Get an Accurate Appraisal

3 General

Steve Cole MAI/Sonny Solot MAI

Fri Feb 24, 2012

Out of the Line of Fire: Avoiding Professional Liability

11am - 1:45pm

Thomas Stoops, Esq.

Fri Feb 24, 2012

Fair Housing Do’s & Don’ts

2:30pm - 5:15pm

Dan Carapellucci

Sat Feb 25, 2012

Disclosure & Risk Reduction

8am - 10:45am

Cheryl Terpening ABR, CRS, GRI

Sat Feb 25, 2012

Protect and Promote Your Client’s Interest by Forming a Business Partnership

11am - 1:45pm

3 RE Legal Issues

3 Agency Law 3 Fair Housing 3 Disclosure 3 RE Legal Issues

Dick Martin

* Indicates approved for Appraisal Continuing Education credit. January/February 2012

©2012 Hogan School of Real Estate

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JANUARY 2012 RENEWAL SCHEDULE HOGAN SCHOOL OF REAL ESTATE, INC. l 4023 EAST GRANT ROAD, TUCSON, AZ 85712 (520) 327-6849 l (800) 794-1390 l FAX (520) 325-8950 l www.hoganschool.com 24 hours are presently required for renewal. 3 hours Agency Law, 3 hours Commissioner’s Standards, 3 hours Contract Law, 3 hours Disclosure, 3 hours Fair Housing, 3 hours Real Estate Legal Issues (Legal Issues) PLUS 6 hours in ANY CATEGORY as long as it is NOT the exact same course. The Real Estate Department allows licensees to take a maximum of 9 hours in one 24-hour period. Designated brokers and self-employed brokers are required to attend a 3-hour Broker Management Clinic with every two year renewal. Pre-Registration discount now available: You may pre-pay and register for your renewal classes and receive the following discount: 24 hours - $175 l 21 hours - $150 l 18 hours - $135 l 15 hours - $115 l 12 hours - $90

** Indicates Excluded from the Prepaid Packages.

* Indicates Approved for Appraisal Continuing Education credit.

Jan 10 Tue 6PM - 8:50PM

Agency: Duties, Responsibilities & Disclosure This course will have real estate professionals understanding their fiduciary duties to their buyers and sellers.

Richard Koevary 3 Agency Law $25.00

Jan 12 Thu 6PM - 8:50PM

Fair Housing Do’s & Don’ts This class will assist licensees and their clients in dealing with today’s complex Fair Housing issues by familiarization with Fair Housing laws and applications.

Dan Carapellucci 3 Fair Housing $25.00

Jan 17 Tue 6PM - 8:50PM

* Private Water Wells

Gary L. Hix, R.G., CWD/PI 3 RE Legal Issues $25.00

Gary will discuss private homeowner rights to have a domestic water well. Learn from an expert about well classifications, registrations and how to locate wells.

Jan 18 Wed 8:30AM - 4:30PM

Short Sales and Foreclosures: What Real Estate Professionals Need to Know NAR Knowing how to help sellers maneuver the complexities of short sales and foreclosure opportunities are not merely good skills. Agents with the proper tools and training can use these specialty areas to build their business for the long term.

Jan 19 Thu 6PM - 8:50PM

The 4 Sides of Disclosure Learn to identify disclosure obligations, common material facs warranting disclosure, and common “red flags.”

Jan 20 Fri 9AM - 11:50AM

RPR: Real-Time Data, Market Knowledge, Informed Consumers - NEW CLASS! This course covers how the REALTORS Property Resource tools help real estate buyers and sellers make informed decisions, as well as increase their efficiency in the marketplace.

Jan 24 Tue 6PM - 8:50PM

Solving Short Sales & REO Contract Issues - NEW CLASS! Increase your knowledge of short sales and REOs so you can better communicate the risks involved in working with these properties.

Jan 25 Wed 8:30AM - 5PM

BPOs: The Agent’s Role in the Valuation Process NAR’s one day program leading to the BPOR Certification.

Jan 26 Thu 8AM - 10:45 AM

2011 Code of Ethics with Case Studies Meet NAR’s 4-year requirement in this engaging class and gain 3 hours Commissioner’s Standards CE as well.

Mike Mulvena 3 Commissioner’s Standards $25.00

Jan 26 Thu 11AM -1:45PM

From Contract to Closing - NEW CLASS! This class will emphasize seller, buyer and agent responsibilities during the process of executing a contract and converting it into a successful closing.

Betsy Branyan 3 Contract Law $25.00

Jan 26 Thu 2:30PM 5:15PM

How to Buy Tax Liens Imagine acquiring properties for a small fraction of their value. Learn every aspect from an expert.

Jan 26 Thu 6PM - 8:50PM

Broker Management Clinic Designated brokers are required to take this course every two years and new broker agents prior to license activation.

George Jenson 3 Commissioner’s Standards $25.00

Jan 27 Fri 8AM - 10:45AM

Valuing Residential Property Using Appraisal Techniques This course covers the fundamental concepts of “Real Property” value and how they can be applied to determine residential real estate valuations; this is a practical application when agents are representing sellers and buyers in the transactions of Real Property.

Michael Ashurst 3 General $25.00

January/February 2012

©2012 Hogan School of Real Estate

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Jim Hogan 7 RE Legal Issues $99.00 Jim Strong 3 Disclosure $25.00

Jonna Douglas/Jim Hogan 3 General ** $35.00 Cheryl Terpening ABR, CRS, GRI 3 Contract Law $25.00 Jim Hogan 7 General ** $99.00

Jim Hogan 3 RE Legal Issues ** $35.00

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Jan 27 Fri 11AM - 1:45PM

Risk Reduction: Avoiding E & O Claims This course will enable the real estate professional to learn about the risks associated with short sales and REO’s and the areas of exposure.

Lisa Robinson 3 Disclosure $25.00

Jan 27 Fri 2:30PM - 5:15PM

Lessons in Diversity Fair Housing and issues of diversity are emeging due to immigration issues. Learn how to apply the evolving demographics which are changing our business.

Cheryl Terpening ABR, CRS, GRI 3 Fair Housing $25.00

Jan 28 Sat 8AM - 10:45AM

Beginning Residentail Real Estate Investment This is an introduction to the rudiments of investment in smaller (1-4 unit) residential properties. Learn how to analyze both “buy, fix-up & sell,” as well as “buy and hold” investment opportunities.

George Jenson 3 General $25.00

Jan 28 Sat 9AM - 3:50PM

Intro Contract Writing Learn how to write listings and purchase contracts. Mandatory for new agents for license activation.

Jerri Szach 6 (3 Contract Law/ 3 RE Legal Issues) $50.00

Jan 28 Sat 11AM - 1:45PM

Agency Case Studies Agency relationships & duties to consumers, will be covered through the most recent case studies.

Jim Strong 3 Agency Law $25.00

When coming to class is just too inconvenient...

TAKE HOG AN’S ONLINE CE! HOGAN’S Hogan’s online renewal classes designed for AZ Licensees by AZ experts on AZ topics. At your convenience and with the click of your mouse, you will experience the same quality education with fun and flair that only Hogan School can deliver. So what are you waiting for? Grab a cup of coffee, learn and enjoy the experience! We’re ready when you are - your Renewal Hours are waiting.

www.HoganSchool.com 24 hour Package (Broker or Salesperson) $135 18 hour Package $105 Individual 3 hour Classes $25 Agency Law - Conversion about the Past, Present & Future Arizona Broker Management Clinic Code of Ethics with Case Studies Contract Law with Case Studies Dealing with the Multi-Cultural Client Disclosure: Road Map for Real Estate

Fair Housing Compliance Green Real Estate Litigation in Real Estate Short Sales & REO Properties Surviving Litigation in Real Estate Top 10 Disclosure Issues

Appraisal Online Continuing Education Tuition $119 per class OR purchase a 21 hour course package for $319 Each course is 7 hours credit

http://hoganschool.fastclass.com/ January/February 2012

n FHA and VA Appraisal Basics n Mortgage Fraud: A Dangerous Business n Foreclosure Basics for Appraisers - NEW CLASS n Appraisal of 2-4 Family & Multi-Family Properties NEW CLASS

©2012 Hogan School of Real Estate

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FEBRUARY 2012 RENEWAL SCHEDULE HOGAN SCHOOL OF REAL ESTATE, INC. l 4023 EAST GRANT ROAD, TUCSON, AZ 85712 (520) 327-6849 l (800) 794-1390 l FAX (520) 325-8950 l www.hoganschool.com 24 hours are presently required for renewal. 3 hours Agency Law, 3 hours Commissioner’s Standards, 3 hours Contract Law, 3 hours Disclosure, 3 hours Fair Housing, 3 hours Real Estate Legal Issues (Legal Issues) PLUS 6 hours in ANY CATEGORY as long as it is NOT the exact same course. The Real Estate Department allows licensees to take a maximum of 9 hours in one 24-hour period. Designated brokers and self-employed brokers are required to attend a 3-hour Broker Management Clinic with every two year renewal. Pre-Registration discount now available: You may pre-pay and register for your renewal classes and receive the following discount: 24 hours - $175 l 21 hours - $150 l 18 hours - $135 l 15 hours - $115 l 12 hours - $90

** Indicates Excluded from the Prepaid Packages.

* Indicates Approved for Appraisal Continuing Education credit.

Feb 9 Thu 6PM - 8:50PM

Pricing Properties Right Listing not selling? Sellers not rational? How can you meet your obligations to your clients but deliver them the “dose of reality” they need in pricing their property?

George Jenson 3 Agency Law $25.00

Feb 13 - Feb 14 Mon & Tue 8:30AM - 5PM

Accredited Buyer Representative Designation Course This class fulfills the two day “core” course requirement for the Accredited Buyer Representation (ABR) designation.

Jim Hogan 15 (12AL/3RLI) $269.00

Feb 14 Tue 6PM - 8:50PM

Solving Short Sales & REO Contract Issues - NEW CLASS! Increase you knowledge of short sales and REOs so you can better communicate the risks involved in working with these properties.

Cheryl Terpening ABR, CRS, GRI 3 Contract Law $25.00

Feb 16 Thu 1PM - 3:50PM

How to Buy Tax Liens Imagine acquiring properties for a small fraction of their value. Learn every aspect from an expert.

Jim Hogan 3 RE Legal Issues $35.00

Feb 16 Thu 6PM - 8:50PM

Understanding Water Availability, Use & Law Learn what to do as a real estate professional on water knowledge and how to better serve the needs and wants of your clients.

William DeStefano 3 Disclosure $25.00

Feb 21 Tue 6PM - 8:50PM

Fair Housing: Do’s & Don’ts This class will assist licensees and their clients in dealing with today’s complex Fair Housing issues by familiarization with Fair Housing laws and applications.

Dan Carapellucci 3 Fair Housing $25.00

Feb 22 Wed 9AM - 11:50AM

RPR: Real-Time Data, Market Knowledge, Informed Consumers - NEW CLASS! This course covers how the REALTORS Property Resource tools help real estate buyers and sellers make infomred decisions, as well increase their efficiency in the marketplace.

Jonna Douglas/Jim Hogan 3 General $35.00

Feb 23 Thu 8AM -10:45 AM

Asset Protection for Real Estate Learn what asset protection is and how it applies to homestead protection, retirement plans, life insurance and other entities.

Mark Valentine, Esq. 3 RE Legal Issues $25.00

Feb 23 Thu 11am - 1:45PM

Broker Management Clinic Designated brokers are required to take this course every two years and new broker agents prior to license activation.

George Jenson 3 Commissioner’s Standards $25.00

Feb 23 Thu 2:30PM - 5:15PM

Exchanging, Case Studies & Contracts This class focuses on real estate exchanges as an alternative to a traditional sale. You will have the opportunity to learn the basics of exchange contracts, the simultaneous exchange process and how to counsel clients about the possibility of exchanging property.

Cynthia Merodias 3 Contract Law $25.00

Feb 23 Thu 6PM - 8:50PM

2011 Code of Ethics with Case Studies Meet NAR’s 4-year requirement in this engaging class and gain 3 hours Commissioner’s Standards CE as well.

Mike Mulvena 3 Commissioner’s Standards $25.00

Feb 24 Fri 8AM - 10:45AM

* How to Get an Accurate Appraisal

Learn the top 3 things to do to get the best appraisal, and what to expect from the appraiser. Learn how appraisers make price adjustments and how underwriter’s requirements impact values.

January/February 2012

©2012 Hogan School of Real Estate

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Steve Cole MAI, Sonny Solot MAI 3 General $25.00

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Feb 24 Fri 11AM - 1:45PM

Out of the LIne of Fire: Avoiding Professional Liability Learn to identify duties when acting in a fiduciary relationship. Specific Arizona case law will be discussed. Broker liabilities will be discussed and attendees will be able to identify potential liability issues.

Thomas Stoops 3 Agency Law $25.00

Feb 24 Fri 2:30PM - 5:15PM

Fair Housing Do’s & Don’ts This class will assist licensees and their clients in dealing with today’s complex Fair Housing issues by familiarization with Fair Housing laws and applications.

Dan Carapellucci 3 Fair Housing $25.00

Feb 25 Sat 8AM - 10:45AM

Disclosure & Risk Reduction This course includes detailed discussions on the problems agents encounter, the disclosures that need to be made to consumers and risk reduction strategies that benefit consumers and real estate licesnsees.

Cheryl Terpening ABR, CRS, GRI 3 Disclosure $25.00

Feb 25 Sat 11AM - 1:45PM

Protect and Promote Your Client’s Interest by Forming a Business Partnership Competitive immunity is about creating a new and more powerful relationsip with your client along with becoming indispensable to them.

Dick Martin 3 RE Legal Issues $25.00

Feb 27 Mon 9AM - 3:50PM

Intro Contract Writing Learn how to write listings and purchase contracts. Mandatory for new agents for license activation.

Jim Strong 6 (3 Contract Law/ 3 RE Legal Issues) $50.00

Feb 28 Tue 6PM - 8:50PM

Foreclosures, Trustee Sales, Short Sales and Deficiences This class will instruct agents on the intricacies of foreclosures, trustee sales, forfeitures, short sales and the consequent issues of deficiences and taxes.

Timothy Remick, Esq. 3 RE Legal Issues $25.00

Short Sales & Foreclosures Resource SFR® Certification Wednesday January 18, 2012 8:30am – 4:30pm 7 hrs RE Legal Issues credit Tuition - $99 For many real estate professionals, short sales and foreclosures are the new “traditional” real estate transactions. Knowing how to help sellers maneuver the complexities of short sales, as well as help buyers pursue short sale and foreclosure opportunities are not merely good skills to have – they are critical! The Short Sales and Foreclosures Resource certification, (SFR® ) gives you a road map for understanding how to: • • • • • • • •

Counsel sellers facing foreclosures Qualify sellers for short sales Develop a short-sale package Negotiate with lenders Tap into buyer demand Safeguard your commission Limit risk Protect buyers

Becoming SFR Certified: 1. 2. 3. 4.

Be a member in good standing of NAR Complete REBAC’s Short Sales and Foreclsoure Course Complete three 1-hour Webinars - Webinars available free of charge at www.realtorSFR.org Submit application - $175 application fee (no recurring dues to maintain certification)

January/February 2012

©2012 Hogan School of Real Estate

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Loan Originator Education All mortgage loan originators must complete 20 hours of NMLS approved education and become licensed under Arizona laws.

learn

Ætest Ælicense

Complete your 20-hours in 2½ days! You'll get everything you need to successfully complete your education requirement! The Arizona Loan Originator Pre-License, SAFE Comprehensive Course is presented in a series of five 4-hour modules: Module 1: Mortgage Loan Origination Activities (4 hours) Module 2: Part A - Lending Standards for Traditional Mortgage Products (2 hours) Part B - Lending Standards for Non-Traditional Mortgage Products (2 hours) Module 3: Federal Mortgage Law (4 hours) Module 4: Lending Ethics & Consumer Protection (4 hours) Module 5: Arizona Mortgage Law (4 hours)

Monday, Tuesday & Wednesday March 12, 13 & 14, 2012 8am - 5pm (lunch break 12pm-1pm) Tuition • $349 Tuition includes NMLS credit banking fee, an extensive course manual plus textbook!

Your instructors: Jim Hogan, DREI, ABR, Green, SFR Richard Koevary, Blue Sky Mortgage Sherri Liebert, New American Mortgage Mark Ross, Prime Capital

GET IT RIGHT! GET IT NOW! GET IT AT HOGAN! January/February 2012

©2012 Hogan School of Real Estate

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APPRAISAL RENEWAL SCHEDULE

Appraisers are required to complete 28 hours of education every two years for renewal and a 7-hour USPAP Course must be taken as part of the 28 hours every two years.

www.hoganschool.com

JANUARY/FEBRUARY Jan 17 Tue 6PM - 8:50PM

Private Water Wells Gary will discuss private homeowner rights to have a domestic water well. Learn from an expert about well classifications, registrations and how to locate wells.

Gary L. Hix, R.G., CWD/PI $25.00

Feb 24 Fri 8AM - 10:45AM

How to Get an Accurate Appraisal Learn the top 3 things to do to get the best appraisal, and what to expect from the appraiser. Learn how appraisers make price adjustments and how underwriter’s requirements impact values.

Steve Cole MAI, Sonny Solot MAI $25.00

2012-2013 USPAP UPDATE COURSE! National Uniform Standards of Professional Appraisal Practices 7 Hour USPAP Update Course Protect yourself and your business. By law, all real estate appraisers must comply with the USPAP regulations. Arm yourself with the standards you need to ensure adherence to the law. The 7 Hour USPAP Update course is required with every two year renewal period.

WEDNESDAY FEBRUARY 15, 2012 8:30AM - 4:30PM Instructor: Roy E. Morris, SRA FASA FRICS $250* - includes extensive USPAP 2012-2013 course manual & textbook Approved for 7 hours Appraisal renewal credit. Approved for 6 hours Real Estate general credit. *Hogan School Discount Package Prices do not apply.

January/February 2012

©2012 Hogan School of Real Estate

13


Satisfying The Financing Contingency In The Residential Resale Real Estate Purchase Contract

What Constitutes A Good Faith Effort? By Michael J. Monroe, Esq.

The question presented is what constitutes sufficient good faith effort to obtain financing to permit a buyer to satisfy the financing contingency and cancel the Arizona Association of REALTORS® Residential Resale Real Estate Purchase Contract? Section 2 at lines 55 through 58 of the AAR Residential Resale Real Estate Purchase Contract states: “Loan Contingency: Buyer’s obligation to complete this sale is contingent upon Buyer obtaining loan approval for the loan described in the AAR Loan Status Update (“LSU”) form without Prior to Document (“PTD”) conditions no later than three (3) days prior to the COE Date. If Buyer is unable to obtain loan approval without PTD conditions, Buyer shall deliver a notice of the inability to obtain loan approval without PTD conditions to Seller or Escrow Company no later than three (3) days prior to the COE Date.” Arizona courts do not have a case decided directly on this point. However, from cases involving contingency cases one thing is very clear. The fact is that in Arizona contingency clauses impose a duty on the buyer to make a good faith effort to fulfill the contingency. If the buyer does not make a good faith effort to satisfy the contingency he cannot rely on the contingency to avoid liability on the contract on the theory that the contract was conditional and not binding. Based on a line of reasoning relied upon by the Arizona courts in determining whether a good faith effort was made, is a decision to be made by the jury if the matter goes to trial (or the judge if there is not a jury). But the question remains – how many attempts have to be made by the buyer to obtain financing to entitle the buyer to cancel the transaction? There is an Arizona case involving a contingency requiring the property to appraise for the amount of the sales price. The buyer obtained the first appraisal which came in far below the sales price. The court noted the contingency clause was inserted in the contract for the benefit of the buyer. The court concluded that since the initial appraisal was less than the sales price, the buyer was entitled to enforce the condition and cancel the agreement. There are some cases from other states which base their opinion on the wording of the contingency clause to find that only one attempt to obtain financing is January/February 2012

sufficient. A Hawaii case and a New York case found that one attempt at obtaining financing is sufficient to meet the buyer’s obligation to attempt to obtain financing. It must be noted that there are some cases from other states interpreting specific language of the contracts involved held that to satisfy the duty to take bona fide, reasonable and prompt action to obtain the required financing required more than one attempt. Without assistance of case law on point in Arizona the answer is inconclusive. We need to examine the language of the Arizona Association of Realtor’s form and attempt to extrapolate the conclusion an Arizona court would take in interpreting the language cited above. The language quoted above from the AAR Purchase Agreement does not assist in answering the question. Therefore it is the conclusion of the author that to be safe the buyer should make multiple attempts to obtain financing if the first attempt is unsuccessful. Since the buyer must prove he made a good faith effort, the more attempts that were made the better the chances of being able to convince a jury or a judge that a reasonable and good faith effort was made to obtain the required financing in order to relieve the buyer from the obligation of proceeding to close the transaction.

©2012 Hogan School of Real Estate

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BPOs – The Agent’s Role in the Valuation Process As a listing or selling agent, it is best to thoroughly understand the BPO process and how it can affect your short sale and bank owned transactions. Short sales and foreclosed bank owned properties will be a large part of the market for years to come and BPO orders will increase accordingly. There are currently over 22,000 “open” BPO orders in Arizona. Over 10 MILLION BPOs are performed annually according to industry estimates. Knowing how to perform BPOs creates multiple opportunities for professional growth and income.

Learn how to: n Get BPO assignments n Prepare professional BPOs

n Evaluate market valuation tools n Identify and weigh factors influencing value

Wednesday, January 25, 2012 Tuition: $99

8:30am – 5pm

7 hours General credit

This course is the educational component for NAR’s BPOR certification. There is a charge of $199 to obtain the BPOR Certification and additional requirements to be registered with the preferred provider panel. For more info visit www.hoganschool.com.

Accredited Buyer Representative (ABR) Designation To obtain the ABR Designation you must take a 2 day “Core” course and an “elective” course. Choose either the BPOR Certification, SFR Certification or HAFA Short Sales as your elective!

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2-Day ABR “Core” Course Monday & Tuesday, February 13 & 14, 2012 8:30am – 5pm Receive 12 hours Agency Law & 3 hours RE Legal Issues credit

Tuition: $269 Show your clients that you are an expert in representing buyers with the designation that says it all. By taking the ABR® 2-Day “Core” Course... • You receive the NAR® recognized ABR designation • Your name is in the REBAC Relocation Directory distributed to over 1,600 corporations • You will have confidence in your ability to offer client-level services to your buyers • Learn how to use the Arizona’s Buyer Broker Agreement without fear of rejection • Understand retainer fees, hourly fees, transaction fees and how to earn them • Learn to market yourself as a buyer representative January/February 2012

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Call 520-615-8407 TODAY to find out if Keller Williams Southern Arizona is right for you. ©2012 Hogan School of Real Estate

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January/February 2012

Š2012 Hogan School of Real Estate

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