The Voice - 2022 Q1

IN THIS ISSUE

A Message From Our President Legal Update: What Exactly Does “As-is” Mean Board REALTORS® of the YEAR

NMAR REALTOR® The Voice | First Quarter 2022 | Page 1

2022 NMAR Officers Damon Maddox, AHWD GRI GREEN MRP President

The REALTOR® Voice is published four times a year by the New Mexico Association of REALTORS® 549 S Guadalupe St, Santa Fe, NM 87501 Phone: 800-224-2282 (982-2442 in Santa Fe) fax: 505-983-8809. www.nmrealtor.com

Hubert H. Hill II, CRS GRI President Elect

2022 DVP’s Tim MacEachen - Central, CARNM Sam Todd - Northwest, San Juan County Lois Sury - Northeast, Santa Fe

Coleen Dearing, CRS, ePRO, SRS, GRI First Vice President

Esther Purkey - Southeast, Roswell Sonya Roberts - Southwest, Otero County M. Steven Anaya, RCE - Chief Executive Officer Ashley Strauss-Martin - General Counsel

Wes Graham, CRB CRS GRI C2EX Treasurer

F. Tasha Martinez - Communications Director Nicole Hammes - Director of Member Programs Ambyrly Maestas - Membership Administrator Kim Garcia - Office Manager

James Russ, C2EX Immediate Past President

Copyright 2022 New Mexico Association of REALTORS® - all Rights Reserved.

For permission to reprint any article or portion thereof contained in this edition, call 800-224-2282

Volume 25, Edition 5, First Quarter 2022 Published by the New Mexico Association of REALTORS® NMAR REALTOR® The Voice | First Quarter 2022 | Page 2

Notice of Openings and Guidelines/Requirements The New Mexico Associations of REALTORS® is currently seeking applications for the following positions for terms to begin January 2, 2023.

• First Vice-President ............... One to be Elected (one-year term; automatically moves up to President

Elect for 2024 and President for 2025) •

Treasurer............... One to be Elected (two-year term)

• District Vice Presidents................ Three to be Elected (two-year terms) One from each of the following

Districts: Central, Northeast, and Southwest These individuals represent their respective district areas throughout the State.

• NAR Director.........................

One (1) Director who is a primary member in a local association with 500 to 1,999 members. This

Director shall be elected to serve a two (2)-year term.

One(1) Director who is a primary member in a local association with 499 member or less members.

This Director shall be elected to serve a three (3)-year term.

Application forms and duties of offices are outlined in the Bylaws, Operating and Fiscal Policies, and Policy Attachments of the New Mexico Association of REALTORS®, available in the members only section of nmrealtor.com.

If you have any questions about the application process, please contact Kim Garcia at 1-800-224- 2282, ext. 164 or kim@nmrealtor.com.

All applications received by the deadline of 5:00 p.m., May 15, 2022, will be forwarded to the Credentials/Leadership Committee.

Elections will be held at the 2022 Fall, Board of Directors meeting of the New Mexico Association of REALTORS®.

Click here for more information.

April 6 8 13 15 19 26 29

May 1-6 11

Forms Committee Strategic Planning Committee Member Services Committee NM MLS Board Meeting Good Friday - NMAR Closed Stanley H. Mathis Foundation Professional Education Benevolent Fund Legislative Committee RPAC Trustees

NAR Legislative Meetings, D.C. Forms Committee Effective Date of Legislation

Upcoming Events 15 17 18 19 25 30

NMAR Officer Deadline Credentials Committee NM MLS Board Meeting Growth & Involvement Committee Finance Committee Memorial Day - NMAR Closed

June 1 8

Forms Committee ROTY Nominations Due By-laws Committee

TBD ROTY Selection Comm Lunch 17 Executive Committee 22 NM MLS Board Meeting 23-24 State AE Meeting

NMAR REALTOR® The Voice | First Quarter 2022 | Page 3

July 4

Independence Day - NMAR Closed 8 RPAC Trustees 12 Benevolent Fund Stanley H. Mathis Foundation Forms Committee 13 Finance Committee 13-15 NAR Communications Directors Institute 15 Strategic Planning Committee 19 Professional Education Committee 19-21 NAR GAD Institute 20 NM MLS Board Meeting

PRESIDENTS REPORT

Moving Forward

Damon Maddox, NMAR President New Mexico Association of REALTORS®

Where has the time gone! It was so great to see so many of you at the Leadership & Legislative Conference in January. We had great sessions including discussions on Recreational Marijuana, YPN’ers, and NM Home Search. Our committees met, many for the first time since 2020. We had a fantastic RPAC Auction and a great rally at the Roundhouse. I also heard the Installation Gala was one to go down in the books.

As we start attending more in person events, I want to keep promoting a more member centric agenda. We appreciate those of you who volunteer and for those on the fence, we invite you to participate at the local or state level. Our next leaders are out there, and we need to do our part in helping develop and offer learning opportunities for those next leaders as they step into their new roles.

May 15 is the deadline for the following vacancies: • District Vice President for the NE, SW and Central Districts for the 2021-2022 term, •

District Vice President for the NE, SW and Central Districts for the 2023-2024 term

•

Treasurer for the 2023 term and the

•

NAR Directors, one for a small board and one for a medium board

Applications are available on the NMAR website and we hope to see multiple applications for each of the positions. These positions are critical for the success of NMAR.

The Growth and Involvement Program will now be an annual program. This year’s program will include an additional location, Las Cruces. We want to make sure the program is accessible and hope that by offering it in Las Cruces will increase participating from the southern part of the state. Dates and application deadlines are on page 10. This year attendees will also see REALTOR® L.E.A.D. The Vision Course: Executing Your Leadership Vision, added to the curriculum, there will be three online/self-paced courses that will be required before completing the instructor-led session in October in Santa Fe. I attended the REALTOR® L.E.A.D. at the NAR Conference last year. This course helped me prepare for my year as state president and any future leadership roles I may decide to take on. The program focused not only on leadership styles but on what I think is most important for a good leader, how to identify, encourage and mentor the future leaders of any organization.

Our members can apply for grants from The Stanley Mathis Foundation; this foundation was created to foster education opportunities for real estate professional. For more information visit the NMAR website where the grant application can be downloaded.

The Forms Committee and NMAR General Counsel, Ashley Strauss-Martin have been busy. Ashley provided a legal update at the Leadership & Legislative Conference and a virtual legal update on March 17. From that meeting we also saw the creation of the Appraisal Contingency Addendum Form. The form has been sent to our providers, but it is available to download on the NMAR website along with a video by Ashley describing NMAR REALTOR® The Voice | First Quarter 2022 | Page 4

the new form.

I’d also like to mention a shoutout to Las Cruces Association of REALTORS® is the home of a new Young Professional Network (YPN) Chapter! Josh Price, Former President of the GAAR YPN’ers has made it his mission to promote the YPN’ers and see a YPN Chapter at each Local Board. Now it’s important to note that potential members shouldn’t be afraid of the name, if you’re young at heart, then you can be part of YPN. The GAAR YPN is hosting a Kentucky Derby, May 7th at the Downs Racetrack & Casino with live music, a silent auction, live telecast of the race and many more events.

To learn more about the event visit GAAR. As I wrap up, I’d like to remind everyone that we still have a couple weeks left of April, which is Fair Housing Month. NAR will be hosting a Facebook Lice: What it Takes to Close the Racial homeownership Gap? Details and registration information can found here. If you haven’t completed the Fairhaven Simulation: I urge you to; I have completed this a few times and every time with different results. The simulation can be completed at a workable pace that won’t interfere with your schedule but will help you ensure your customers obtain fairhousing.

During 2020 and 2021 we may have felt isolated, but we are all here for each other. It’s important to get back out there and be involved in our communities. Maybe you may be part of your local board, or on the zoning commission of your city government or helping prioritize a community garden. Whatever it is your doing, NMAR REALTOR® The Voice | First Quarter 2022 | Page 5

keep moving forward to make your communities great and increase those business opportunities. The next quarter we have some great things planned. Enjoy this issue and remember we are: Many Voices, One State: Share the Vision.

FROM YOUR CEO

Primary Election Looming M. Steven Anaya, Chief Executive Officer New Mexico Association of REALTORS®

The primary election is June 7, and what we know is the make-up of the State House leadership will be different.

12 incumbents are not seeking re-election and a number of incumbents will face opponents for their seats.

Democrats not seeking re-election to the House of Representatives include: Deborah Armstrong - District 17; Karen Bash - District 68; Kay Bounkeua - District 19; Georgene Louis - District 26; Daymon Ely - District 23; and House Speaker Brian Egolf - District 47.

Republicans not seeking re-election to the House of Representatives include: James Strickler - District 2, Kelly Fajardo - District 7, Zachary Cook - District 56, Randal Crowder - District 64 and Rebecca Dow District 38 is running for Governor. Also not running for re-election is Phelps Anderson - District 66.

For State Representatives facing primary challenges Ten Democrat incumbents for State Representative facing challengers: • Anthony Allison - District 4, • Doreen Wonda Johnson - District 5, • Eliseo Alcon - District 6, • Art De La Cruz - District 12 • Roger Montoya - District 40, • Susan Herrera - District 41, • Kristina Ortez - District 42, • Andrea Romero - District 46 • Harry Garcia - District 69 and • Ambrose Castellano - District 70

Five Republican incumbents for State Representative facing challengers: • Jane Powdrell-Culbert - District 44, • Rachel Black - District 51, • Greg Nibert - District 59, • Randall Pettigrew - District 61 and, • Larry Scott - District 62 All 15 incumbents are facing at least one challenger and a few have multiple opponents who have already registered with the Secretary of State.

This will be a busy primary election and we urge all of our members to get involved.

It’s important to have our REALTOR® members registered to vote. NMAR and your local associations will be working together to offer voter-registration sign-ups.

Four Open Seats of Interest • Deborah Armstrong (D) - District 17, Bernalillo • Georgene Louis (D) - District 26, Bernalillo Both of these seats are part of the largest population in the state and have been held by Democrats for decades.

The candidate list for District 17, Bernalillo, includes Cynthia Borrego, former Albuquerque City Councilor for District 5. She is running against Ellis McMath (R) and Joshua Taylor Neal (R). The candidates for District 26, Bernalillo are Eleanor Chavez (D), Cherise Quezada (D) and Patrick Sais (R).

• Rebecca Dow (R) - District 38, Grants, Hidalgo & Sierra County Rebecca Dow’s seat is open in the newly redrawn map which previously was part of district 49. The redrawn NMAR REALTOR® The Voice | First Quarter 2022 | Page 6

district includes Socorro County, runs south to Radium Springs, includes part of Truth or Consequences and part of Hatch. Four candidates are vying for this seat, the most notable is Ravi Bkasker (D) currently the Mayor of Soccoro (1990- current). The other candidates are Tara Jaramillo (D), Melba Aguilar (R) and Sandra Kay Hammack (R).

• Brian Egolf (D) - District 47, Santa Fe Brian Egolf announced his retirement during the last day of the 55th Legislative Session. “I must tell you this is the last time I will speak to you from this at the conclusion of a regular legislative session. I recently decided I will not seek re-election to the house. I will pass this high office off to a new speaker in January,” Egolf said.

Egolf, a democrat, represented Santa Fe since 2009 and became a speaker in 2017. His seat has two candidates, both Democrats; Reena Szczepanski and Francisco Lopez.

Twenty - three seats are unopposed in the primary and the general election • Rodney Montoya (R) - District 1 • Mark Duncan (R) - District 2 • Ryan Lane (R) District 3 • Brian Baca (R) - District 8 • Patricia Lundstrom (D) - District 9 • Patricia Roybal Caballero (D) - District 13 • Antonio “Moe” Maestas (D) - District 16 • Debra Sarinana (D) - District 21 • Christine Trujillo (D) - District 25 NMAR REALTOR® The Voice | First Quarter 2021 | Page 7

• Raymundo Lara (D) - District 34 • Chrstine Chandler (D) - District 43 • Linda Serrato (D) - District 45 • Tara Lujan (D) - District 48 • Gail Armstrong (R) - District 49 • Matthew McQueen (D) - District 50 • Cathrynn Brown (R) - District 55 • Harlin Vincent (R) - District 56 • Candy Spence Ezell (R) - District 58 • Joshua Hernandez (R) - District 60 • Martin Zamora (R) - District 63 • Andrea Reeb (R) - District 64 • Derrick Lente (D) - District 65 • Jack Chatfield (R) - District 67 Click here to view the re-districting maps for the House of Representatives.

Voter registration deadlines in New Mexico

Online registration deadline: May 10th Register by mail deadline: Must be postmarked by May 10th In person registration deadline: Saturday, November 5th

LEGAL UPDATE

What Exactly Does “As-Is” Mean?

Ashley Strauss-Martin New Mexico Association of REALTORS® General Counsel

The “as-is” language is ambiguous and should be avoided whenever possible. Brokers love pithy phrases that they believe “sum up” the concept, while it’s well known that attorneys get paid by the word. Somewhere between the ambiguity often borne from brevity and the labyrinth often resulting from verbosity resides the perfection of concision. Unfortunately, the term “as-is” is not that.

the buyer is still permitted to do inspections, ask for whatever they want as a result of those inspections and when the seller says “no”, then the buyer can terminate? Then why not just say: “Seller will not do any repairs.”

The NMAR Residential Re-Sale Purchase Agreement (Purchase Agreement) does not require the seller to do any repairs. If the buyer conducts inspections and asks for repairs to be made, the seller may always say “no.” Further, in the Purchase Agreement, the seller makes no warranties about the property. Therefore, the parties must be trying to say something more when they insert “as-is” language than simply “the seller won’t do any repairs”; otherwise, the “as-is” language is not just ambiguous, it’s redundant. Which begs the question – what are the parties trying to accomplish?

“Seller will not conduct any repairs on the property, reduce the price or provide any seller concessions. Buyer retains the right to conduct inspections and to terminate the purchase agreement in accordance with the Objection Deadline.”

Normally, the buyer conducts inspections and based on inspections, the buyer may: 1.

Terminate the contract;

2.

Ask for repairs;

3.

Ask for a seller concession; or

4.

Ask for a price reduction.

With this “as-is” language, is the seller simply alerting the buyer to the fact that the seller won’t do any repairs, but

If the seller does not want the buyer to ask for repairs, a seller concession or a price reduction, but is willing to let the buyer conduct inspections and terminate based thereon, then why not say:

Under New Mexico law, including the term ”as-is” in the Purchase Agreement only “provides absolute protection to a seller... when the buyer and seller possess equal knowledge of the property”. Further, it provides no protection for sellers if the seller intentionally misrepresents the property to the buyer: “a claim for fraud may be predicated on concealment where there is a duty to disclose” and “if a party actively misrepresents the condition of the property, then an “as-is” clause does not preclude recovery.”

Another highly flawed phrase often used is “inspections for informational purposes only.” When this language is used on its own, it is ambiguous. Does it mean the buyer is waiving the inspection contingency? When it is used with an inspection contingency waiver, it again begs a question – what is to be gained by the buyer conducting inspections NMAR REALTOR® The Voice | First Quarter 2022 | Page 8

BEFORE closing if the buyer has waived the inspection contingency? While the buyer may claim they are just “curious”, it is highly likely that if/when the buyer discovers deficiencies in the property, they will ask for repairs or concessions. If the seller refuses, relying on the inspection contingency waiver, the buyer may claim the seller failed to disclose adverse material facts, even if the seller had no prior knowledge of the deficiencies revealed during the buyer’s inspections.

flexibility in how they comply with the ADA’s general requirements of non-discrimination and effective communication but they must comply with the ADA’s requirements. Brokers should work with their website vendors to conduct accessibility audits of their business websites to identify any accessibility deficiencies.

In conclusion, the parties and brokers need to be clear as to what is intended when adding language to the Purchase Agreement. Less words is not always better. Further, the parties should consider what they wish to accomplish with the language. Remember, the better the understanding between the parties in the beginning, the less likely it is there will be a problem down the road.

ADA Website Accessibility DOJ Guidance On Friday, March 18, 2022, the Department of Justice (DOJ) published guidance on website accessibility under the Americans with Disabilities Act (ADA). While the DOJ has not provided regulations setting out detailed standards, it has established a new web-page providing information about how state and local governments and businesses open to the public, such as real estate brokerages, can use existing standards to make their websites accessible to people with disabilities in line with the ADA’s requirements.

In the absence of a formal regulation, businesses will have NMAR REALTOR® The Voice | First Quarter 2022 | Page 9

Legal Update provides a limited and general discussion of some, but not all, aspects of issues that is intended but not guaranteed to be accurate as of the date published. This information may become outdated and it is the responsibility of the user to determine if it is current. No summary of the law is a substitute for legal advice with respect to a particular matter. No attorney-client relationship is intended or implied. If legal advice is required, the services of a competent attorney should be obtained.

NMAR members are cautioned against engaging in the unauthorized practice of law by advising a consumer of legal rights and obligations or by applying the law to particular facts and circumstances. (c) 2021 New Mexico Association of REALTORS®

2022 Member Board Presidents

Valen Martinez CARLSBAD

Kathy Segura CLOVIS/PORTALES

Debbie Dupes CARNM

Audra Kennis DEMING/LUNA CO.

Bridget Gilbert GREATER ABQ.

Chris Acevedo GALLUP

Billie Haynie LAS CRUCES

Jessica Sena LAS VEGAS

Jacob Roberts OTERO COUNTY

Mindy Longmire ROSWELL

Andrea Dobyns SANTA FE

Cassandre Carver SILVER CITY

Mary Emery TAOS COUNTY

Leon Eggleton Sam Todd RUIDOSO/LINCOLN SAN JUAN COUNTY COUNTY

REALTOR® Emeritus Status Given to NM REALTOR® Earl Greer, REALTOR® with the Sierra County Board of REALTORS® was given REALTOR® Emeritus status by the Board of Directors of the National Association of REALTORS®. Greer has served as President for the Sierra County Board of REALTORS® and has served on numerous on a variety of NAR Committees and Boards.

Benefits of Emeritus status means no further payment of dues to the National Association is necessary by the member association of which the REALTOR® Emeritus is a member.

Eligibility requirements for Emeritus consideration include a REALTOR® member who has held membership in the National Association as a REALTOR® for a cumulative period of forty (40) years and proof of one (1) year of service at the National Association level.

2022 NMAR Growth & Involvement Program Dates!

Session One - June 23-24, Las Cruces Session Two - August 25-26, Albuquerque Session Three - October 13-14, Santa Fe Applications due May 30 Click here to download the application

NMAR REALTOR® The Voice | First Quarter 2022 | Page 10

Congratulation to 2021 Board REALTORS® of the YEAR

Jim McElroy

Clay Azar

Heather Wood

Hubert Hill

Clovis/Portales

CARNM

Deming/Luna County

Greater Albuquerque

Billie Haynie

Samantha Howard

Esther Purkey

Susan Fredrickson

Las Cruces

Otero County

Roswell

Ruidoso/Lincoln Co.

Paul Barry

Lisa Bybee

Dina Patten

Diane Enright

San Juan County

Santa Fe

Silver City

Taos County

Any NMAR Member, Member Board, or past NMAR ROTY may nominate a candidate for NMAR’s 2022 REALTOR® of the Year award.

Nominations are due June 1, 2022. Visit our web site to learn more.

Installation Gala/RPAC Auction

NMAR REALTOR® The Voice | First Quarter 2022 | Page 12

Legislative Rally at the State Capitol

NMAR REALTOR® The Voice | First Quarter 2022 | Page 13

Biggest Obstacles Buyers Are Facing The lack of affordable homes for sale is the top challenge home buyers face in the current market, but it’s not the only one, according to the 2022 Obstacles to Home Buying, a new study released by the National Association of REALTORS® and Morning Consult.

Finding homes that fit buyers’ criteria, competing with multiple offers, and saving for a down payment also were commonly cited challenges. Homebuying obstacles, however, can vary by race and ethnicity, the study finds.

For example, Hispanic buyers also cited difficulty saving for a down payment as a pressing challenge that has delayed homeownership for some buyers.

Black buyers cited lack of credit or credit issues as the main obstacles, as well as finding neighborhoods to which they were comfortable moving.

White and Asian potential buyers said a lack of homes that fit their criteria and competing with multiple offers were their top current obstacles in purchasing a home.

“Record-high home prices and record-low inventory have made the homebuying process exceedingly diffi-

cult,” says Jessica Lautz, NAR’s vice president of demographics and behavioral insights. “Our new study shows that while the inventory crisis is affecting potential buyers of every race, nearly all home buyers agree that homeownership is still an important part of the American dream.”

Indeed, among all races and ethnicities surveyed, a clear majority agreed that homeownership remains a part of the American dream.

But buying isn’t easy nowadays. About three-quarters of aspiring buyers surveyed say it will take them between six months and three years to save for a down payment.

While homeowners have enjoyed growing equity from rising home prices, buyers have faced plenty of hurdles.

“The market becomes increasingly unaffordable, and the obstacles greater, for those trying to enter the market,” says Bryan Greene, NAR’s vice president of policy advocacy. “NAR advocates not only for existing homeowners but also for those aspiring homeowners whose entrance into the market is necessary for the economy to thrive.”

NMAR REALTOR® The Voice | First Quarter 2021 | Page 14

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B

reak out your hats, seersucker suits, and join us for the Greatest Two Minutes in Sports at the Kentucky Derby RPAC Event.

On Saturday, May 7th, when 20 horses run this prestigious race at the Churchill Downs in Louisville, Kentucky - - NMAR & YPN have partnered to host a statewide REALTOR® event at The Downs Racetrack & Casino that will celebrate Americana style while watching the live telecast of this iconic race.

Tickets & auction item purchases coun towards a member’s RPAC contribution for 2022.

NMAR & YPN Present Kentucky Derby for RPAC Saturday, May 7th from 2:30 - 5:30 pm The Downs Racetrack & Casino 145 Louisiana Blvd NE, Albuquerque, NM 87108 What to Wear: Sunday best including fine hats and seersucker suits Ticket Price: $50 (includes buffet, 1 drink ticket, souvenir glass, Betting Guide, auction, live music & more!)

Buy Tickets: Call GAAR at 505-842-1433, option 5 or email emy@gaar.com. Payment must be made with a personal credit card.

Kentucky Derby Activities •

21+ Event

•

Food, Beverages & Live Music

•

Women’s Hat & Men’s Suit Contest

•

Silent Auction

•

Live Telecast of the Race!

Question? Please contact: •

Josh Price, 505-550-1310 or josh@maddoxmgmt.com

•

Emy Saavedra, 505-842-1433, option 5 or emy@gaar.com

Help make the first statewide RPAC Kentucky Derby a success!

Use the toolkit to reach your members and promote the event via your association’s communication channels.

Event Forms to Download How Your Association Can Participate Sponsorship Levels Auction Item Donation RPAC Disclaimer: Contributions to RPAC are not deductible for federal income tax purposes. Contributions are voluntary and are used for political purposes. The National Association of REALTORS® and its state and local associations will not favor or disadvantage any member because of the amount contributed or decision not to contribute. You may refuse to contribute without reprisal. 70% of each contribution is allocated to your state or local PAC efforts to support state and local political candidates: 30% is sent to National RPAC to support federal candidates and is charged against your limits under 52 U.S.C. 30116.