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Chris Hill PRESIDENT
Century 21 New Millennium 23063 Three Notch Road California, MD 20619
301.862.2169
chris@thechrishillteam.com
Denise Lewis SECRETARY
Brook-Owen Real Estate 41 E. Main Street Westminster, MD 21157 410-871-1110
denise@denisehasthekeys.com
Yolanda Muckle
IMMEDIATE FORMER PRESIDENT
Long & Foster Real Estate
9300 Lottsford Rd., Suite 500
Largo, MD 20774
301.249.1600
yolanda.muckle@lnf.com
Cheryl Abrams Davis PRESIDENT-ELECT
RE/MAX United Real Estate 14340 Old Marlboro Pike Upper Marlboro, MD 20772
301-702-4200 cherylabrams@remax.net
Chris Jett TREASURER
Shore 4U Real Estate 23 Fountain Drive W 2nd Ocean City, MD 21842
443.523.2360 chris@shore4u.com
Chuck Kasky, RCE CHIEF EXECUTIVE OFFICER
Maryland REALTORS®
200 Harry S Truman Pkwy. Suite 200 Annapolis, MD 21401
800.638.6425 chuck.kasky@mdrealtor.org
Maryland REALTORS ®
200 Harry S Truman Parkway | Suite 200 Annapolis, MD 21401-7348
443.716.3500 | www.mdrealtor.org
Leadership Team
Chris Hill | President
Cheryl Abrams Davis | President-Elect
Chris Jett | Treasurer
Denise Lewis | Secretary
Yolanda Muckle | Immediate Former President
Chuck Kasky, RCE | Chief Executive Officer Editor
Daniel Patrell | dan.patrell@mdrealtor.org
Advisory Committee
Rebekah Kleinman | Chair
Kristin Skeweris | Vice Chair
Advertising Arlene Braithwaite | 410.772.0820
Publication Design
HBP, Inc., 952 Frederick Street, Hagerstown, MD 21741
800.638.3508 | www.hbp.com
The opinions expressed by nonstaff contributors may not reflect the official opinion of Maryland REALTORS® and/or policies derived from leadership and staff.
Mission Statement
Maryland REALTORS® exists to support all segments of its membership and their specialties. Maryland REALTORS®, through collective efforts with local boards/associations and the National Association of REALTORS®:
■ Develops and delivers programs, services and related products that maintain and elevate the high standards of the real estate business and the professional conduct of its practitioners;
■ Assists members in ethically and professionally serving the public;
■ Promotes and preserves the right to own, transfer and use real property; and
■ Protects the right of members to conduct business within a framework of fair and reasonable laws and government regulations.
In principle and in practice, Maryland REALTORS® values and seeks diversity and inclusive participation within the field of real estate and recognizes each member as a unique individual.
Adaptability and Transparency
As you read this, the August 14 deadline to comply with the terms in the NAR Settlement is right around the corner. As your State Association, we’ve held webinars, worked with our broker community, developed practice forms, provided guidance in the form of video, office visits, and even in this magazine a six-page fold-out that you can use as a printed guide. As always, Maryland REALTORS® has your back on the changes coming soon and the changes we’ve yet to see. If there is one thing we’ve learned these last few years: change is constant. When change is common, one of the greatest skills we can possess is that of adaptability, nimbleness. As we continue our work with consumers and those who become our clients, adaptability gets an assist from transparency, giving our clients the facts—the pros, the cons as we know them.
In light of being completely transparent, I do have genuine concerns as this industry hurdles forward toward new realities. The changes being made in this industry will have an adverse impact on first-time homebuyers, VA buyers, and buyers from disadvantaged groups.
Without a doubt, the key tool that benefits such buyers is the cooperative compensation model. While such offers of cooperative compensation won’t be listed on the MLS, it remains an important element that can open homeownership to those who might not have had such an
opportunity without it, and indeed, our Statewide Forms committee and Legal Team have provided the forms all of us will need to have such discussions with our buyers and sellers.
As the professionals that move this industry, we need to have this conversation with consumers in the communities we serve—the importance of cooperative compensation for the buyer, of course, but also for the seller in how it widens the net of potential buyers. As we work for each client in that singular transaction where they are the boss, we must be their trusted advisor, providing sound guidance on the marketing strategies and tactics for selling a home and opportunities that can help many buyers in search of a home to call their own.
Being that trusted advisor also helps to cement your value and worth; each of us must champion our value one-on-one with clients and consumers but also within our communities. Soon, you will hear more from the Maryland REALTORS® team about targeted outreach to consumers that will help to communicate your value and worth. We hope that you can take this information—and many of the new resources available on Marylandhomeownership.com to have conversations that communicate your value.
Finally, allow me to say how much of an honor it has been to serve as your President this past year. We moved forward on important
initiatives, such as financial education, and we’ve responded proactively to five-alarm situations that will change our industry forever. Through it all, working with our members has been a great privilege. I, like you, look forward to the leadership of Cheryl Abrams Davis, who assumes the role of President on October 1.
What has given this role the most meaning is serving you, working with you to elevate our professionalism for Marylanders everywhere. ■
Chris Hill Is Maryland REALTORS®’ 2024 President.
A Day of PRIDE!
BY DYANA QUINZI
PRIDE can mean many things to many people. For our members, PRIDE is about community, equality, fair and ethical treatment of clients, and of course…ice cream. The hot summer didn’t stand a chance this past June when it came to our third annual “Pride in Practice” event. Members of our DEI committee hosted a thoughtprovoking and informative experience at an engaging venue: The American Visionary Arts Museum in Baltimore.
The morning opened with an interactive Town Hall Experience. Each table of participants was given real-life situations that real estate and lending professionals have experienced and were asked the question, “What would you do?” From blatant prejudice to more nuanced lender issues, participants trekked through some difficult circumstances to decipher what steps should be taken to protect clients when faced with discriminatory practices. Maryland REALTORS® CEO Chuck Kasky, National Association of REALTORS® Senior Policy Representative Colette Massengale, and Richard Green, Branch Manager and Vice President of Presidential Bank Mortgage lent their expertise and knowledge to guide participants in the best way to address these practices in the future.
Event Emcee and DEI Committee chairperson Wayne Curtis, a veteran champion for equality, has
always recognized the need for education and outreach when it comes to supporting the LGBTQIA+ community:
“Our Pride in Practice event for 2024 continued building this annual gathering as an important opportunity for Maryland REALTORS® to support publicly the community of REALTORS® who identify as LGBTQ+, to educate and further open the minds of REALTORS® whose presence indicates they are already open to this community of professionals, to show us how to handle incidents of prejudice and discrimination we might encounter in our practice and in our daily lives, whether based on perceived sexual preference, gender identity, race, religion, or ethnicity, and give us options on how to handle them.”
The afternoon held an offering of Fair Housing: Bias Override class with instructors Brenda Kasuva and Colette Massengale. This interactive class offered Fair Housing CE credit to participants, with great information about how the human brain teaches itself shortcuts that can lead to biases that you may not even be aware of. This popular course helps individuals face their unknown biases and overcome them to better serve their clients and their community.
After the education portion of the day ended, the cherry on top of the day was an ice cream social where members were able to network and unwind after a fastpaced, fun-filled day of instruction, food, and community.
Participants in this year’s PRIDE Event at the American Visionary Art Museum enjoy the eclectic exhibits at the D.E.Ice Cream Reception (Hosted by GBBR!) after a day of networking and education.
Stay Safe! REALTOR® Safety Resources
BY JACKY MUECK
Thinking about your safety before your alarm bells are set off during a showing or open house is the best way to keep you prepared and out of harm’s way. Simple steps, like letting someone else know where you are and who you’re with, meeting new leads for the first time in a public space, and more, keep you from being completely alone with someone you might not want to trust.
Most REALTORS® know and follow these steps, but did you know about some of these key resources for you and your colleagues?
NAR’s Safety webpage gives REALTORS® access to tips, the REALTOR® Safety Network, and much more. You can file an incident report to notify other members of safety concerns, view webinars, articles, and other resources, and more. Review the Top Five Safety Action Items for REALTORS® like planning your safety strategy and taking the REALTOR® Safety Pledge. Learning the steps you can take now to keep yourself safe in the future is an important investment you can make with your time.
In this 4-minute video on Safety Best Practices for Real Estate Professionals, you can review the basics of proactive ways to prioritize your safety, including avoiding basements and attics on showings with new clients, and more. Remember to comply with any regulations for self-defense sprays, and that any safety practices you can never be used in a discriminatory manner.
The REALTOR® Safety MLS Fields article highlights the fields REALTORS® can use when inputting listings to the ML that might seem irrelevant at first, like minimal or no exterior lighting and remote/limited visibility from the road, but can change how you or another REALTOR® would prepare for the showing. Referring to this list of helpful categories in the MLS can help keep others in the industry safe with accurate information.
The REALTOR® Safety First Course has been offered by Maryland associations in the past to give REALTORS® the tools and knowledge they may need. Contact your local association if you’re interested in the course to ask when it may be offered again, or if there is a similar safety course being offered.
If you work at an Association, the Safety Toolkit for Associations can help structure safety programs and educational resources for your members. NAR offers resources, like the ones above, as well as guidance for how associations can incorporate safety into their current programs and the office. ■
Jacky Mueck is Advocacy and Communications Administrator for Maryland REALTORS®.
The Beach Is Calling … Maryland REALTORS®’ Annual Conference Returns to Ocean City and Looks Forward to Your Arrival!
BY JACKY MUECK
First, let’s get to the important stuff: Have you registered yet for “Back to the Beach,” Maryland REALTORS®’ Annual Conference, to be held at the Roland E. Powell Convention Center in Ocean City, Maryland, September 16–19? You haven’t??
Well, then, follow this QR code to register today!
Why register for this annual event? Read on!
The Conference & Events Program Advisory Committee has been hard at work to bring you an exciting conference, reimagined from the ground up, with essential industry leaders, insights, and knowledge that you won’t want to miss.
And, of course, have some fun in the OC Sun!
Our celebrity keynote speaker, Ryan Serhant , you might know from his impeccable luxury real estate reputation, his YouTube channel, his Netflix show, Million Dollar Listing New York, and more.
More than just the CEO of his company, SERHANT, he’s a leading voice in the industry for experts and consumers alike. Author of three books, including Sell it Like Serhant and Brand It Like Serhant, his experience and insights are valued across the real
estate market and beyond. As one of the most followed real estate influencers in the world, Serhant’s keynote will provide attendees vital information about the intersection of technology and the current real estate market. Strap on, because this keynote alone will take you places!
And what about CE?
We’ll have plenty! Earn up to 18.5 hours of continuing education over the four days of the conference. Choose from electives—such as serving clients with different abilities, divorce in real estate, and more. Renewing your license for the first time? We’re offering all the newly licensed renewal requirements!
Conference CE List
■ Contracts Law Review (F/1.5) Offered twice!
■ Fair Housing (C/1.5) Offered twice!
■ Legal/Leg Update (A/3) Offered twice!
■ Ethics (D/3) 1pm-4pm Offered twice!
■ Broker Supervision (I/3)
■ Intersection of Divorce, Real Property, Mortgage Planning (F/1.5)
■ The Trust Agent–Reading Body Language
■ Serving Clients with Different Abilities (F/1.5)
■ BRAD (H/3) Offered twice!
■ All About ADUs (F/1.5)
All Newly Licensed Requirements Offered!
■ Principles of Real Estate Practice (L/3)
■ Contracts for newly licensed (J/3)
■ BRAD (H/3)
■ Financing for Newly Licensed (O/1.5)
■ Professionalism (N/1.5)
■ Property Management and Landlord and Tenant Laws (M/3)
Beyond CE, we also have an incredible lineup of speakers for non-CE sessions. Learn about the latest in
continued on page 10
Do’s and Don’ts of Conference CE
Before you join us at the conference, make sure you check your license renewal date! Starting October 2024, all required CE must be complete 30 days in advance of your renewal date (Senate Bill 564).
DO
1. Check your current CE Status from MREC to know which classes you need.
2. Have your license or M1 (NRDS) number easily accessible.
3. Check in at the CE Registration table before class starts.
4. Bring your ID to show us when you sign in— no matter how well we know you!
5. Arrive early to your class.
6. Put away all your electronics, including cell phones and laptops.
7. Take notes! Use pen and paper to take notes on the important updates and information you’ll gain.
8. Remember to sign out at the end of the session.
9. Enjoy the class and participate!
DON’T
1. Be late! Remember, you cannot gain credit for a CE class if you are more than 5 minutes late to a session.
2. Forget all CE sessions follow MREC standards!
continued from page 10
investment strategies, building a YouTube brand and channel, Artificial Intelligence (AI) in real estate, and so much more. Industry experts will share their knowledge to help you learn what could be next in your advancement in real estate.
Of course, the issue that is on everyone’s mind—the NAR settlement—will be discussed in detail. CEO Chuck Kasky, Maryland REALTORS®’ 2024 President Chris Hill, and industry experts will discuss the path forward, with industry changes going into effect August 14, 2024.
When you register, you can choose from the many sessions available. Important tip: keep your confirmation code handy. If you want to change which sessions to attend, this code will help you, in advance of the conference.
Our Exhibit Hall will be the main attraction! In addition to connecting and networking with our exhibitors, see what’s happening at our Tiki Hut Center Stage for special presentations. When you see a large umbrella stand, visit! You may find a sponsor offering refreshments and relaxation. The entire Exhibit Area has been designed to give attendees an opportunity to network with their peers, exhibitors, and others in a fun and engaging manner. Exhibitors, from brokerages to title companies, services, and our friends from the Maryland Department of Housing and Community Development and the Maryland Mortgage Program, will be available to answer questions and even strategize with you. You’ll make connections to further your expertise.
Have you signed up to be an Exhibitor? Follow the QR code below!
To enhance your networking, we’ve planned multiple happy hours (because, you know, at the Beach it’s five o’clock somewhere) and special events and activities! Tiki boat tours, headshot huts, “selfie stations” where you can get your picture “on the beach” or be the next Cover Star of Maryland REALTOR® magazine. and themed Umbrella Stands, you’ll have plenty of opportunities to dip your toes in the figurative sand while
making meaningful connections with key exhibitors and colleagues.
And make sure to keep your sunset open on September 17, as we invite you to a concert and fun activities with the Landsharks Band, heavily influenced by the music of Jimmy Buffet. This is fun that you can’t miss!
These events and other opportunities are sponsorfriendly! Want your company’s name adorning our Tiki Hut, or presenting the Landsharks Band, or even the must-see keynote with Ryan Serhant? Want to sponsor our headshot hut, to provide attendees professional headshots for free? Follow the QR code below, or email jacky.mueck@mdrealtor.org.
“Back to the Beach,” along with returning to the vibe of Ocean City, will also bring back another tradition. Our Annual Installation and Awards Ceremony will take place Wednesday, September 18. Join us as we celebrate a new slate of Industry Award winners and our new 2025 leadership, headlined by our next association President, Cheryl Abrams Davis. Registration is only $35. More details coming soon!
Come for the beach and stay for the education, networking, fun, and engagement! Bring your Hawaiian shirt, flip flops, beach hat—and we’ll provide the beach towel…one of the gifts—along with a drink koozie— coming from your friends at Maryland REALTORS®.
See you in September…we can’t wait to see you at the beach! ■
Value Forward
Cheryl Abrams Davis, our next Association President, is Focused on Member Value
Every President who has served Maryland REALTORS® comes to the role with initiatives they’d like to move forward. And, just like every President, the realities of the industry often dictate much of their path. This doesn’t faze our next President, Cheryl Abrams Davis, who will lead this association beginning October 1, 2024. Coming to real estate after a solid business career, Cheryl’s skills as a leader—visioning, planning, leading—came to the surface while working in corporate America. These same skills have shaped her ascendency as she rose from committee member, to leadership, and now, President. How will she use these skills to add value to brokers and agents? Maryland REALTORS® CEO Chuck Kasky sat down with Cheryl Abrams to learn more about what’s in store in her term.
Chuck Kasky: You had a solid work history prior to your real estate career. Tell us about your trajectory—your arc, if you will—how it led to a career in real estate?
Chery Abrams Davis: I’ve always had a passion for real property and architecture since I was a child. I grew up in Washington, DC, and I remember being fascinated with the architectural details of homes I visited with my parents. One house was in upper Northwest DC, and it was a very ornate row house with a front and rear stairwell, and I remember being fascinated because we lived in an 800 square-foot row house in DC.
The second house was in Hillcrest, Washington, DC. This house had so many steps to get to the front door. As a child I remember counting 20, 30 steps just to get to the front door. It was the first house in our area that had an overlook where you could see from the living room to the upstairs with a balcony. This house exists to this day. It’s these moments that led me to where I am now. I am always fascinated by architecture when I travel the world.
Chuck: How did your professional life lead you toward real estate?
Cheryl: In my 20s, I was working in the private sector. My first real job was with the Georgetown University Law Center, working in the alumni development and public relations office. This is where I learned a little bit about real estate because we had accepted alumni donations to help build what is now the Gewirz Building. Shortly after this stint, I completed my degree in business from Trinity University in 1993 while working at an international law firm in Washington DC.
It was in 2002, working in the private sector, that I remember getting a raise of 2%, which, I was told, was the standard increase for every employee and manager across the board because the employer was uncertain how the events of 2001 would affect business. I thought how insane it was for the employer to think their employees and managers were only worth a 2% increase. So, I picked up the phone and registered for real estate school. They had one seat available, and I knew that this last seat was mine because I understood my value more than ever, and I knew that if I wanted more for myself, I had to make it happen.
Chuck: What about the move from having a steady paycheck to being self-employed. Was that scary?
Cheryl: Absolutely. But one thing about me, coming from my business background, is that I make calculated moves. I didn’t just leave my profession to go directly into real estate. I started out as a dual career agent for four years and my real estate income surpassed my corporate income. I saved up one year’s worth of salary before I left the corporate world. So, I had a nice
Having worked in an environment where I had to understand people, how they process information, and how to be a good leader has benefited my work in real estate significantly.
cushion before I left. Still, my family thought that I had lost my mind. Why would I leave a six-figure job with benefits and a 401(k)?
Yet these reactions made me feel like I was on the right track because I believe a lot of people who are successful today took chances on themselves that other people couldn’t understand. That’s why it’s called a “dream” because it’s something that you see while everybody else may not. I knew that failing in real estate was not an option for me, and that I was going to do what I needed to do to be successful in this space.
Chuck: Those are all good points: know your worth but also have a little bit to get started. It does take an investment to start any business, right?
Cheryl: Absolutely. I believe that if you don’t invest up front, you don’t have as much of a buy-in.
Chuck : Looking back on your diverse work background, what helped you when you made the leap to real estate?
Cheryl: Having worked in an environment where I had to understand people, how they process information, and how to be a good leader has benefited my work in real estate significantly. Planning is crucial in whatever work environment you operate; you can’t just jump into a space without a plan and roadmap to get to the other end. Much of what I learned in my previous work applies to real estate. The real estate business, like other professional endeavors, requires sound planning, constant professional training, and leadership.
Chuck: Many of our presidents have been agents, some have been team leaders. You’re an Associate Broker, partner-owner. How does that set you apart?
Cheryl: As a partner at RE/MAX United, I do occupy a unique position. I’m also the office manager for our brokerage where we have 62 agents, most of them seasoned, long-term agents. I also list and sell real estate, and I play a major role in transaction forms compliance at our office. As I step into the role of President, my experiences at my brokerage have certainly shaped my sense of vision, organization, and scheduling. While managing an office with 62 agents may not be the easiest of tasks, we are aligned to provide an outstanding experience for our agents and clients. We have an awesome and dedicated support staff. Likewise, as the state association, we want to provide an exceptional experience for our members, even in these current challenging times. We do that by moving forward together. It’s what we do at the brokerage, and it’s what we will continue to do here at Maryland REALTORS®.
Chuck What do you think you’ll be spending your most time on during your term?
Cheryl: There’s what we want to do, and then there is what is thrust upon us. We must manage both! The focus at this time is:
■ REALTOR® Tools. We need to ensure our members are equipped with the proper tools to navigate the new business practices. To be forward-thinking and anticipate all outcomes ahead of time and be prepared to pivot, if necessary.
■ REALTOR® Value. We must ensure that buyers and sellers understand the value we bring to every real estate transaction.
■ Consumer Confidence. Closely related to REALTOR® value, we need to continue and build upon our outreach to consumers, so that they have confidence in keeping the real estate professional at the center of the real estate transaction.
■ Advocacy. We must continue the fight for protecting private property rights.
Chuck: Good points. I know you want to accomplish things, but as we’ve seen, major issues—the NAR settlement and the COVID outbreak in 2020—can often dictate the agenda.
Cheryl: Since I have been a part of the leadership team, my vision of what I’d like us to accomplish has probably changed no less than seven times. However, the four points I just mentioned will be the immediate focus. Also, we will be monitoring the market. It has been a very challenging year: high interest rates, a lack of middle housing, an ongoing housing crisis, and all the legal issues facing the industry and our members. This is also the second year in a row that transactions have been down. For every transaction that we lose, that’s two less paychecks that would have supported our members.
It’s important to make sure our members understand the “business of the business” and are prepared to pivot from where they are to a different mindset. So, right
It’s important to make sure our members understand the ‘business of the business’ and are prepared to pivot from where they are to a different mindset. So, right now the focus is on us, our brokers and our managers, to make sure that they have the tools and guidance necessary.
now the focus is on us, our brokers and our managers, to make sure that they have the tools and guidance necessary.
Also, advocacy will always be the key. We had an amazing year in advocacy in 2024, and we still need to speak out on issues important to Marylanders, our communities, and this industry. What can we do to help make middle housing commonplace in Maryland? How are we addressing the homeowners’ tax credit? This hasn’t changed in years, restricting this benefit to Marylanders making $60,000 or less, not adjusting to changes in the consumer price index. This is a huge initiative that I want to take on so that our seniors and anyone meeting new thresholds will have options with housing affordability.
Chuck: What are your plans for helping brokers adapt to today’s realities? When you take office on October 1st, we’ll have about six weeks of experience with the practice changes required by the settlement. What do you hope to accomplish with broker resources, helping them adapt to what will just be the beginning of the new reality we find ourselves in?
Cheryl: Well, I do want to say that our Maryland REALTORS® staff is fantastic. Our Strategic Communications team and the Communications & Public Relations committee is awesome. I’m excited for the Broker Portal we’re rolling out, which will provide the brokers in our state with the tools they will need to get through this current business climate and beyond. We want to ensure we provide resources to all brokers with this tool, whether they are small, medium, or large
We need to ensure our members are equipped with the proper tools to navigate the new business practices.
firms. As this association’s incoming President, it’s exciting to see the broker portal take shape. Providing consistent support to our broker community is something I wanted to focus on, and it’s gratifying to see it happening already.
Chuck: How important is it that we help brokers understand the importance of transparent communication with their clients? For example: talking compensation with a buyer. How would you like to see us approach that conversation? Let’s be honest. We don’t know what the end game is or where we will end up, but we do know that the Department of Justice and even some consumer organizations want buyers to pay their brokers, full stop. They want to eliminate sellers compensating buyers and brokers. They are being relentless. What do you think about how we approach this as a state association? Our members are looking to us in an uncertain time.
Cheryl: We should commend the Maryland REALTORS® legal team and Statewide Forms Committee for being on top of this process. Let’s also recognize that Maryland is one of the few states that has had a buyerbroker agreement in place since 2016. We’re not starting at square one.
From the start, information about what a buyer should pay their broker has always been there, period. The difference now is explaining this information in more detail to a potential buyer and the options open to them if the seller is not offering compensation. As long as we have the forms available, along with the guidance and videos to assist our members on best practices in sharing this information to their clients, coupling that with sound broker training and supervision, I believe that that’s what’s going to get us through this time.
Chuck: Buyers have been conditioned to believe that they do not need to come out-of-pocket to pay their brokers, traditionally.
Cheryl: I have a concern that there will be some communities and some people who will be left out of obtaining the house that they really want, if they have to compete against other people who can afford to pay their broker, versus those who are relying on seller compensation to make the transaction happen.
Chuck: To me, if I’m saving up for a house, I know what I need for a down payment with closing costs, and knowing that the average age of a first-time buyer has increased substantially over the last decade or so—is it
really a matter of being priced out, or is it a matter of needing more time to save up the extra money? Does the conversation change from being priced out of the market to delaying entering the market, to saving more money to cover these costs?
Cheryl: There will be some people who will be able to pivot. We also need to look for opportunities for people who might not be able to move as quickly. The world of real estate has been changing since I started in the business in 2002. It has been changing as far back as I can remember. What I’ve witnessed is that when things change, some things may go away as other things come into existence to bridge the gap. There may be ways in which this gap could be bridged that we’re just not aware of yet because the dust hasn’t settled. We will closely monitor the effects of the changes on our industry and remain open to developing ways to overcome stopgaps.
Chuck: What else do you have in mind that you would like to see Maryland REALTORS® accomplish in 2025?
Cheryl: We need to continue to do our forward thinking with respect to the broker portal, with respect to enhancing the consumer experience on MarylandHomeownership.com, making sure that our members have the tools they need to succeed. We want to hear from all our members about how it’s going— what’s working, what’s not working, and what do we need to do to fill any gaps. To get through this successfully takes active listening, which as President, I am looking forward to.
Chuck: On a lighter note, you have decided to hold your installation at the same time as “Back to the Beach,” our annual conference, which is making its return to the Ocean City Convention Center. As our members know, this was our norm, which we got away from. What were your thoughts about bringing the installation back as part of the annual conference? What’s your vision for the event?
Cheryl: So, I’ve been a participant in the Maryland REALTORS® conference for years. In 2023, I chaired the Conference and Events Program Advisory committee. This event has always been a significant part of my professional development. I do remember when the installation was a part of the conference—there was a different kind of energy in the air. Yet I totally understand why everything got disjointed following COVID. It gave some of our more recent Presidents an opportunity to make the installation their own. For me, especially after having served on this committee, it seemed the best space for people to come, get reenergized, get their CE, reconnect with a lot of the REALTORS® from around the state, network, and yes, celebrate.
For my installation, I want to connect to that energy, for everyone to be reinvigorated, reconnected, and just really have an enjoyable time. We’ve been through a lot in these past 12 to 15 months, and I want everybody to have a reset and start off on the right foot and celebrate our industry award winners and our new leadership.
Chuck: Any final thoughts?
Cheryl: Maryland REALTORS® will not put out information unless and until we know it’s complete and accurate. When we speak, we’re going to make sure that the information our members receive is correct and actionable. For our members, I ask you to please have patience. Things are changing at lightning speed; things may be one way this week, and then next week we’ll get information that changes the changes we’ve implemented—and we must be ready when the information changes again. Members should understand that we will make sure that they have the right information as quickly as possible, and that it’s correct and reliable.
Be adaptable and, most of all, please, explain your value to sellers, buyers, landlords, and tenants. It’s important and critical to communicate what REALTORS® do and the value we bring to every transaction. ■
REALTORS®: Heroes for Hope
Within hours of the September 11 terrorist attacks, efforts were launched by the National Association of REALTORS® (NAR) Executive Leadership team to secure contributions to aid those impacted. NAR utilized its leadership, infrastructure, and standing as the world’s largest trade association to rally members and supporters. Out of this effort, the REALTORS® Relief Foundation (RRF) was born.
RRF is a 501(c)(3) non-profit that exists to provide financial housing assistance to the public after disasters. In its 23 years of existence, more than $42 million in aid has helped more than 22,000 families. In fact, more than $100,000 in disaster relief support has been awarded throughout Region 3 (Maryland, Delaware, District of Columbia, Virginia, and West Virginia).
RRF is supported generously by the REALTOR® members everywhere. NAR covers all administrative costs, allowing 100% of donations to be used for disaster relief. When disasters strike, RRF works alongside local and state REALTOR® associations to mobilize the members in their locale to provide housingrelated assistance to disaster impacted communities.
Hurricanes, floods, tornadoes, wildfires, earthquakes and more. While we never know where or when they may strike, two things are certain: the number of disasters is growing, and each one leaves in their wake nothing but destruction and devastation.
RRF helps families rebuild their homes and rebuild their lives. The one thing that the RRF does not want to do is be in a position to have to say no when called upon for support. By providing annual support to REALTORS® Relief Foundation, state and local associations, corporate partners, and individual donors help RRF to say YES whenever a disaster impacts our REALTOR® communities.
When you lend your support, you are taking the lead before there is a need, and that is crucial.
We welcome contributions, not only in times of disaster, but any time throughout the year—and 100% of
all funds collected go to disaster relief causes. Donate one time or with a recurring investment by texting TEAMRRF to 71777 or by visiting rrf.realtor
Become a Hero for Hope to a family in need. When disasters strike, REALTORS® are there to help. Join us and make a difference! Use the QR code below to learn more. ■
Brian Lipsky is the Regional Liaison for the REALTORS® Relief Foundation and the Former President of Carroll County REALTORS®.
DO AudioTours: A Game-Changer for Real Estate Listings
BY AMY CHOREW
DO AudioTours™ is a revolutionary multi-language Artificial Intelligence audio showcase designed to amplify your real estate listings. An affordable alternative to video, this audio/visual tool delivers audio descriptions, captions, multi-lingual support, and ADA-friendly components. Putting these all together, they bring a property to life in ways that text alone cannot.
Once your listing data is integrated, agents’ property listings automatically appear in DO AudioTours™. Your listings will have a unique Showcase Page that makes sharing easy! Our AI technology processes these listings and delivers your automated tours directly to your
email inbox. From there, you can effortlessly share them across all your social media platforms and more. We also offer an upload feature for properties that may not be suitable for MLS.
Other Features
■ You will have a global audience. DO Audio Tours supports 57 languages.
■ Accessibility Enhancements! Our platform prioritizes accessibility, featuring the integration of the “UserWay Accessibility Widget” on showcase pages, which ensures your listings are inclusive and compliant with the latest standards.
■ Showcase Your Listings. Your Showcase Pages include enhanced property details, the option to display your real estate license number, and a smoother user experience for potential buyers.
DO AudioTours™ is set to transform how you showcase your listings, engage with potential buyers, and differentiate yourself in the competitive real estate market. Experience the future of real estate marketing with DO AudioTours™ today!
DO Audio Tours is an exclusive Affinity Partner of Maryland REALTORS®, which means you get discounts not available to others.
Want to learn more about DO AudioTours? Check out this QR code for a video tour.
Check out DO AudioTours’ exclusive page for Maryland REALTORS® members. ■
Lessons from the Past Can Help Today
BY CHUCK KASKY
I re-read a column I wrote 4 short years ago while we were in the midst of what was, at that time, a period of great uncertainty and upheaval. Sound familiar? Our response to COVID-19 taught us a lot.
I said then what I want to say now: change is normal. Perhaps the rate of change is exhausting, but we should not be surprised by this. Think about the pace of change in the technology we use every day. Think about how we conduct business now compared to how we operated 5–7 years ago. And I guarantee that over the next 5–7 years we’ll experience even more change. Now apply that to pretty much every part of our lives.
When I first began talking about change and how disorienting it can be, I wasn’t even thinking about autonomous vehicles or AI. There is a temptation to remember “normal” like it was a perfect, balanced state to which we will inevitably return. It is what we know, and it is comfortingly familiar, so it’s tempting to glorify it and to hold onto it. Yet we need to operate in the now and look forward, not try to find our way back to “normal.” The “normal” we once knew is now history.
Good business strategy looks forward, not backward. By not obsessing over what the world once looked like and wishing things worked out differently, we can see what the future could look like and
how we can begin to shape that reality now.
Let’s imagine things differently. We know for sure that cooperative compensation is gone from the MLS. Forever. What takes its place is a matter for us to figure out together and let the market take us to the place that makes the most sense.
It is critical to remember that no matter what we plan for, the reality we face when the time comes could very well be different from what we imagined it would be. We can’t predict how buyers and
sellers will react to our conversations about compensation, but we can be prepared to educate them on the real estate market, how the transaction works, and the pros and cons of choosing one option over another.
By the time you read this, you will be familiar with the new forms and have worked on your scripts to educate buyers and sellers about their options and strategies. We will be constantly asking for your input into how it’s going, what are the sticking points, and how we can adjust to the market as it evolves. continued on page 22
Empowering Buyers, Promoting REALTORS®: The New Marylandhomeownership.com
BY LISA MAY
Starting the homebuying process can be overwhelming. Information on the internet or advice from friends and family may be contradictory, inapplicable, or even incorrect.
Giving consumers the information they need to navigate the ins and outs of the housing market is what prompted the creation of Marylandhomeownership.com, several years ago. Though it contained some static content, it was largely a vehicle to promote our original Buyer and Seller Toolkits and for consumers to find Housing Opportunity Certified REALTOR® members.
That was then. Considering this year’s events, the site is now taking on a whole new role as a primary
vehicle for Maryland REALTORS® to communicate our members’ value and expertise to consumers.
To meet that task, we are making several enhancements to Marylandhomeownership.com, including added content and materials you can use with your clients to show you have the knowledge to guide them in their homeownership journey.
Buyer and Seller Toolkits
While digital and print copies of the Maryland Homeownership toolkits for both buyers and sellers have been available in the past, they have now been updated to reflect brokerage compensation changes in light of the NAR Settlement.
They are now also available in both English and Spanish. These toolkits walk buyers and sellers step-by-step through the real estate transaction and feature removable checklists for consumers to use when completing their mortgage application, preparing for an open house, or readying for moving day.
Blogs
In late 2022, Marylandhomeownership.com created a blog page to communicate with consumers about a particular aspect of homeownership or alert them to news and programs from around the state. Up until now, these were written by staff and posted once per month.
This blog space is being supercharged with content. In addition to staff-produced posts, we will now feature submissions from Maryland REALTORS® committee members on current topics and trends in real estate. We are also creating a feedback channel
so that consumers can tell us what topics they would like to see covered in the future.
Videos
In 2023, Maryland Homeownership launched “Your Homebuying Keys,” an hour-long webinar on homebuying offered at no cost to consumers. Each monthly session features a REALTOR® member of the Housing Opportunity Committee, a Maryland Mortgage Program top-performing lender, a representative from Freddie Mac, and a staff member from the Maryland Department of Housing and Community Development. Recordings of these sessions are available on the Marylandhomeownership.com homepage and YouTube channel.
Along with these recordings, we will begin producing original video content for consumers, including
top tips for buyers and sellers, animated how-to guides on aspects of home sales, and a consumerfacing explanation on understanding broker compensation.
Financial Literacy
One of Maryland REALTORS® key initiatives for 2024 was to increase financial literacy and education among consumers—particularly for teens and young adults. In partnership with the Maryland Council on Economic Education, we have developed a curriculum and supporting materials on moving from “High School to Homeowner.” These will be adapted and incorporated into a special section on Marylandhomeownership.com
Sharable Social Content
If you need easy content to share with your clients, look no further than the Maryland Homeownership
Facebook and Instagram accounts. These sites are regularly updated with information aimed specifically at consumers, including homebuying tips, definitions of industry terms, and promotion of homebuying events and seminars.
Through this additional content and with increased promotion, we hope to position Maryland Homeownership as a one stop shop for consumers to find honest and accurate information about real estate. Take a tour of it today and use these free tools to show your worth as a Maryland REALTOR®. ■
CEO CORNER continued from page 20
We are making educated guesses, based on the world we can see, and we are thinking our way forward. I abhor predictions because they’re almost always wrong. Just look back at any economic forecast about when the U.S. economy will go into a recession. HINT: All the economists were wrong! (an aside: I heard one economist apologize for missing it.) That said, I will make a prediction in which I have reasonable certainty: we will have to adjust our thinking over the next 6, 12, or 18 months. This includes our forms and training. Another lesson from COVID is that success requires
us to be nimble and flexible and unafraid of revisiting decisions. Amid all this uncertainty, there is a constant. Maryland REALTORS® will never lose sight of our mission, which is to support REALTORS®, to advocate on your behalf, and to provide you with the tools and information you need to succeed. That is our job, and we are doing it. We will never lose sight of that. We will continue to lead with our value. Very soon you will hear the details of an extensive consumer campaign in which we stress not just our “value” but our “worth.”
I’m excited about what we can do right now. We will start every conversation from a place that encourages creativity and problemsolving. We will ask how we can renew and continue to do things that help our members where they are today and where they will be in the future. ■
Chuck Kasky is CEO of Maryland REALTORS®.
Lisa May is the Director of Advocacy and Public Policy for Maryland REALTORS®.
Review These Programs with Your Clients!
BY GREGORY HARE
Fall into new opportunities with Maryland’s housing market! As routines settle and families focus on finding their dream homes, it’s the perfect time to highlight the positive prospects in Maryland real estate. Thanks to the Maryland Mortgage Program (MMP), which offers a variety of products designed to provide increased financial assistance to potential homebuyers, homeownership remains within reach. Seize a chance to help more families find their perfect home this fall! You can also say hi to the team at the annual Maryland Association of Realtors conference in September!
The biggest barriers to entry remain insufficient funds for downpayment and closing costs, student debt, and high interest rates. The Maryland Mortgage Program has specially designed products that assist in each of these categories. We always encourage local municipalities to reach out to our business development team to generate cutting edge new partnerships that promote homeownership in their area.
Below are some of the most advantageous MMP products:
■ 1st Time Advantage DirectNo down payment assistance (DPA) available, but usually offers our most competitive interest rates. External sources of DPA may be used.
■ HomeStart - For borrowers with income below 50% AMI; comes with a zero percent DPA loan equal to 6% of the first mortgage.
■ Flex 3% Loan - Comes with a DPA loan equal to 3% of the first mortgage in a zero percent deferred second lien. (Can be a repeat homebuyer.)
The Maryland Mortgage Program has been the state’s flagship homeownership program for over 40 years and for the past three years has achieved about $1 billion annually in home loan reservations, helping more than 3,400 Marylanders purchase their dream home each year. ■
facebook.com/ marylandmmp/ instagram.com/ marylandmmp/ twitter.com/ marylandmmp
More on Earnest Money Deposits
BY DIAMOND SMITH, ESQ.
Q:I need clarification regarding the law as it pertains to the “30-day Notice of Intent to Disburse Earnest Money Deposit Letter.” My client, the buyer, was under contract on a condo using conventional financing, 3% down. Four days before settlement her loan was denied because the condo was deemed “not warrantable” per Fannie Mae guidelines. This happened after her lender received and reviewed the condo docs provided by the association. The lender issued the denial letter, and it was delivered to the listing agent two days prior to settlement along with a unilateral release based on financing contingency and the release of funds addendum. The seller is refusing to release the EMD. My brokerage has sent out the 30-day notice to both parties, sent 8 days ago, however, I am questioning the process for the 30-day notice per the law as it seems vague. Maryland REALTORS®’ article on the Maryland REALTORS® website states that it is a 10-day period to notify the parties, and if no contest is received during that time, the broker has 30 days to release funds. However, I am being told (and our broker letter states) it is 30 days to wait for a contest from the seller. Is it 10 days or 30? Also, don’t the rules governing the financing addendum permit release of the deposit to the buyer automatically?
A: Because it appears that the reason the contract fell through was due to the financing contingency, the parties would be allowed to terminate the contract. A new process for release of deposits was enacted in 2023. The law now allows a buyer who terminates a contract under a contingency (excluding a financing contingency) to request that the real estate
broker or an escrow agent return the deposit to the purchaser. Within 10 days of receiving the request, the seller must provide proof that they filed a complaint or request for mediation. If they don’t, the holder of the deposit must release it to the buyer within 30 days of the original notice.
However, because the financing contingency is excluded from this process, and in the absence of a mutual release of deposit agreement, the holder of the deposit must follow the procedure for sending the “30-day letter” as provided in Section 17-505 of the Brokers Act. In that case, the holder of the deposit sends both parties a letter indicating to whom the escrow agent intends to distribute it. A party has 30 days from the date the notice was sent to contest the proposed distribution.
Typically it takes 30 days to comply with law on release of deposits, but there are two distinct procedures based on why the contract was terminated.
As always, when discussing these issues with your customers, clients and/or other real estate licensees, be sure to inform them that you are not an attorney and do not purport to provide legal advice. When issues of a legal nature are presented, you should always recommend that the person with whom you are dealing seek the advice of competent legal counsel. ■
Diamond Smith, Esq. is Associate Counsel at Maryland REALTORS®.
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