Listed December 2018

A MAGAZINE OF THE RICHMOND A S S O C I AT I O N O F R E A LT O R S

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RAReal to rs .com

DECEMBER 2018

In this issue: The Year in Review and a Look Ahead Thank You RPAC Donors VA REALTORS® Award Winners

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Table of Contents A S S O C I AT I O N N E W S Upcoming Events

F E AT U R E President’s Letter The Year in Review and The Year Ahead

G O V E R N M E N T A F FA I R S PHA Transition 2017 RPAC Elite

REALTORS®’ 2018 Awards

P R O F E S S I O N A L D E V E LO P M E N T Legal Update for Teams Consumer Campaign Stock Library New Ethics Citation Program

REALTOR® members pay annual dues with a one-year subscription included within their dues. Sponsor and affiliate members receive a subscription to the magazine as part of their member dues. Annual subscription rate for non-members is $25.

Postmaster: Please send change of address to: Listed Magazine Richmond Association of REALTORS® 8975 Three Chopt Road Richmond, VA 23229

MAGAZI N E

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Listed Magazine is published by: The Richmond Association of REALTORS® 8975 Three Chopt Road Richmond, VA 23229 EDITOR-IN-CHIEF John Le Marketing & Public Relations Coordinator ADVERTISING & SPONSORSHIP Kellie Whitlow 804.422.5009 kwhitlow@RARealtors.com PUBLICATION DESIGN Punch PRINTING & PRODUCTION Carter Printing Company Office: 804.422.5000 Fax: 804.422.5088 Web: RARealtors.com

Copyright © 2018. Richmond Association of REALTORS®. All Rights Reserved. Articles of information from the magazine may not be reprinted without the permission of the Richmond Association of REALTORS®.

The publisher does not endorse advertised products unless specifically stated, and reserves the right to reject any advertisements at any time.

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Association News U P COMING EVENTS

Outstanding Production

Installation Reception

Awards Reception

WEDNESDAY, DECEMBER 12, 2018 Lewis Ginter Botanical Garden 1800 Lakeside Avenue, Richmond, VA 23228 Join RAR and CVR MLS in welcoming incoming President Curt Reichstetter and all 2019 officers and directors. All 2018 committee volunteers will receive free admission.

For complimentary registrations, please email kburke@RARealtors.com. For all other registrations, visit RARealtors.com or call 804.422.5000.

MAY 2019

RE TRENDS OCTOBER 2019

R AR /CV R MLS H OLI DAYS

USEFUL URLS

Please note that RAR and CVR MLS offices will be closed in observation of the following holidays:

RAR Website RARealtors.com

Christmas | December 24 - 25, 2018 New Year | December 31, 2018 - January 1, 2019 Memorial Day | May 27, 2019 Independence Day | July 4 - 5, 2019 Labor Day | September 2, 2019 Thanksgiving | November 28 - 29, 2019

Marketing Content for REALTORS® RARealtors.com/MarketingContent Bill Pay Site IMS.CentralVARealtors.com CVR MLS Rules & Regulations ResourceCenter.cvrmls.com RAR Government Affairs RARealtors.com/government-affairs

U P COM I NG D U E S BILLI N G DATES Item Billing Date Q1 2019 MLS Fees December 3 Q2 2019 MLS Fees March 1 Q3 2019 MLS Fees June 3 Q4 2019 MLS Fees September 3 2019 Association Dues October 1

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Due Date before 5pm January 4 before 5pm March 29 before 5pm June 28 before 5pm September 30 before 5pm October 31

RAR Education RARealtors.com/realtorschool Virginia Real Estate Board DPOR.virginia.gov/Boards/Real-Estate Virginia REALTORS® VirginiaRealtors.org Consumer Campaign Website WeAreTheR.com

2 01 8 RAR L E A D E RS H IP

PRESIDENT Susan Swink

IMMEDIATE PAST PRESIDENT John O’Reilly

PRESIDENT-ELECT VICE PRESIDENT Curt Reichstetter Wayne Gauthier

BOARD O F D I R ECTO RS

Gail Ailor

Rhonda Howlett

Bradley Boykin

Phillip Innes

Don Carnesi

Tom Innes

Marianne

Beth Lane

Donahue

Karen Smith

Blake Eudailey

Dare Tulloch

Becky Hatch

Elizabeth Weis

2 019 E D UCAT ION W E E KS Mardi Gras Week | March 11 - 15 10am - 12pm | 10 CE Credits for $25 Hollywood Week | July 29 - August 2 10am - 12pm or 1pm - 3pm 10 CE Credits for $25

LAST-MINUTE TAX TIPS

With the end of the year approaching, this is a good time to consider tax deductible expenses for 2018 and weigh the benefit of expediting early 2019 anticipated purchases, in order to deduct them from 2018 taxes. Some of the expense items REALTORS® can usually deduct are: » Advertising » Legal and Professional Fees » Dues and Subscriptions » Meals and Entertainment » Cell Phone » Supra Lockbox Fees » Broker Fees

» Education Expenses » Office Supplies » Clients Gifts » Internet » Mileage » Postage and Delivery Costs

RAR members and CVR MLS users can see and print a receipt for 2018 Association and MLS-related expenses by logging into their online account and clicking on “view paid and unpaid invoices.”

Be sure to check with a tax consultant/accountant, if you have questions concerning the deductibility of an expense.

The Federal Budget Act of 1993 and Tax Act of 2018 eliminated tax deductions for portions of dues used for lobbying activities.

The estimated portions allocated by the Richmond-, Virginiaand National REALTOR® Associations for lobbying on behalf of real estate interests are listed below. These figures should be communicated to your tax consultant.

2019 ESTIMATED NON-DEDUCTIBLE PORTIONS OF DUES RAR: 7.7% or $13.09 VR: 11.2% or $17.36 NAR: 38% or $57.00 Note that the NAR Consumer Advertising Campaign special assessment of $35 is still considered a deductible expense.

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President’s Letter

BY SUSAN SWINK

Success is about making a difference in the lives of others.

F

or the last several years, I’ve read in these pages the “farewell” messages of our presidents as they leave office. They all have remarked on how quickly the year passes. I’ve had a hard time believing that until now.

But now as my year concludes and I pass the baton, I understand exactly what my predecessors have said: the year as RAR President is fast... and fun.

As I reflect upon 2018, I will remember it as a year in which we accomplished much good work on behalf of our members and our community—and we had lots of fun doing it. For me some of the highlights of the year included: the release of an important study on the housing needs of seniors; gathering with my fellow Directors to paint a beautiful mural at Blackwell Elementary; a wonderful, humidity free night at the Science Museum for our Outstanding Production Awards reception; and yet another amazing REALTORfest (kudos to the staff for pulling this off again and again). Woven throughout these highlights, our governmental affairs teams protected our ability to earn a living and we provided over 214 RAR classes and 40 free MLS training sessions.

Speaking of the MLS, we had a busy year on that front as well. In June we launched the client retention

product, eProperty Watch, as well as Announce My Listing which enables members to share their listings via social media and do so in ways that keep them compliant with the advertising regulations of the Virginia Real Estate Board. In July we announced that the members of the Southern Piedmont Association of REALTORS® would be joining CVR MLS, thus greatly expanding the geographical footprint of our MLS. And in September we transitioned to the Virginia MLS CoOp, thereby maintaining our shared database with the Chesapeake Bay & Rivers Association. Finally, in October we launched the long-awaited Matrix 360, an enhanced MLS product which features much improved integration with the Realist tax database.

When I was installed as President, I said that success was about “living our passion… making a difference in the lives of others... making an impact and making sure that impact lasts.” Thanks to all of you, I’ve been able to live my passion in 2018. Collectively, the leadership, volunteers, and staff of RAR have made a difference and an impact that will last. I am honored to have played a part in this, and I look forward to 2019 and all the good work we will continue to accomplish under the leadership of Curt Reichstetter. Happy holidays to you all.

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The Year in Review and a Look Ahead

BY JOHN LE

A LO O K BACK In 2018, RAR made significant strides in its efforts to bolster the quality of life within the greater Richmond region, and to ensure that industry regulations protect private property rights and our members’ ability to conduct business.

“I get the opportunity to meet and collaborate with some of our profession’s brightest individuals on a day to day basis. I’ve learned so much from my involvement with RAR and I hope my future colleagues continue to elevate real estate as a professional industry,” said Susan Swink, RAR/CVR MLS’s 2018 President. “I’m astonished by the growth of our footprint as Realtors—we’ve grown beyond just being leaders in housing— Realtors are community advocates, philanthropists and a vital resource for the communities we serve.”

“Doing business more efficiently is something that I always strive for,” says Swink. “But it’s also important to add that personal touch within

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our work—remember that our industry is built off of connection and the sense of community—as Realtors it’s important to bridge the gap between completing a transaction and forming meaningful connections. The Association and members are always looking for

innovative ways to interact with clients and each other. I’m truly thankful for every meaningful interaction I’ve made throughout my profession; and it wouldn’t have been possible, if I never challenged myself to get more involved with my Association and community.”

Highlights from a productive year:

None of this would be possible without the REALTOR速 members G OV E R NM E N T AF FAI RS

who volunteer their

Chesterfield, Richmond, and Powhatan are overhauling and making significant updates to their Comprehensive Plans. Elizabeth Greenfield, VP of Government Affairs & Executive Director of the Partnership for Housing Affordability (PHA), has worked diligently with staff and commissioners on multiple chapters, including housing, revitalization, special area plans, and implementation. Joh Gehlbach, Government Affairs Coordinator, has been in conversation with city staff and encouraging Realtors速 to get involved, as they start to solicit community input.

time, energy, and ideas through the Legislative Committee and the RPAC Trustees.

Laura Lafayette, Chief Executive Officer, chaired a subcommittee of the Virginia Housing Commission comprised of stakeholders from across the state committed to finding legislative solutions to reduce evictions. Elizabeth and Joh have been engaged in other community discussions around the issue, including the Campaign to Reduce Evictions (CaRE).

General Assembly Issues: During the 2018 Session, staff reviewed 213 different bills related to real estate, land use, and home buying. Of those, the Virginia Realtors速 Public Policy Committee (PPC) took positions on 80.

}

SUPPORTED

OPPOSED

AMENDED

39 bills

26 bills

15 bills

33 eventually passed

and defeated all of them

to remove impact on Realtors速

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E V E NTS

Outstanding Production Awards

O U T S TA N D I N G P R O D U C T I O N A W A R D S R E C E P T I O N RAR held a reception for members at the Science Museum of Virginia, in recognition of outstanding sales production for the previous year.

R E A LT O R ÂŽ R O A D T R I P Members joined RAR on community bus tours along one of five routes throughout the Greater Richmond Region.

REALTORfest

R E A LT O R f e s t In addition to a trade show featuring more than 180 exhibitors, attendees of REALTORfest heard from a full lineup of industry experts and world-class motivational speakers.

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M AR K E T I NG CAM PAIGN The 2018 Consumer Campaign focused on the production of a stock photography & video library available to members. The campaign launched with a set of Fall/Winter photos centered around Richmond localities, landmarks, Realtors and clients. The library was expanded in August 2018 with a Spring/Summer set—which brings the new downloadable content available for Realtors to over 1000 high-quality photos, graphics, and videos.

More information on page 32.

Front row: Shawnda Parker, Theresa Morris, Joyce Navary, Jenn Cox Middle row: Leigh Ann Barber-Walls, Daphne MacDougall, Christy Burton Omarzai, Glen Cornwell Back row: Justin Cochran, Jenn Hart, Michael Hottman, Krystyl Leonard Not pictured: Sandra Crawford, Tondra Devarel, Robin Levey, and Francisco Peot

LE ADERSHIP DEVELOPMENT ACA DEMY

C

ongratulations to the 2018 RAR Leadership Development Academy graduates. The Leadership Development Academy is a six-month program designed to develop visionary, service-oriented REALTOR® members for professional, civic and community leadership roles.

This year’s LDA class:

1. Worked with professional

2. Determined their core

leadership coaches to identify and develop their personal and professional leadership styles and communications skills.

values and how they relate to their own ethical decision making.

3. Met with NAR lobbyists and

4. Performed volunteer service

members of Congress to discuss legislation and issues affecting REALTORS® in our region.

projects with Virginia Supportive Housing, HandUp Resource Center, Feed More and celebrateRVA!

5. We are excited to celebrate these 16 graduates and look forward to watching them succeed as REALTOR® leaders in Central Virginia.

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COM MUN I TY LAN D TRUST The Richmond Association of REALTORSÂŽ spearheaded the creation of the Maggie Walker Community Land Trust (MWCLT). The Land Trust creates permanently affordable housing in communities that are becoming more and more expensive. It does this by purchasing a vacant or blighted lot, rebuilding or rehabbing the house and then selling the house while maintaining ownership of the land it sits on. When the owner decides to sell, the equity is split between the Trust and the home owner. Then when the house goes back on the market, it can be sold for less than market value.

In 2018, the MWCLT became designated as the City of Richmond’s land bank. The land trust grew from one home to over two dozen in development and under contract.

E D UCAT I O N RAR offered over 200 classes, 10 designation and certification classes in 2018, and 180 hours of pre-broker education. Members also took advantage of 40 free MLS classes, free quarterly Fair Housing classes and free NAR Ethics training.

Members benefitted from two sessions of Education Weeks ($25), featuring 5 unique classes offering up to 10 hours of CE. Shamrock Week March 12 - 16 Summer CE Cruise Week July 16 - 20

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A Look Ahead CURT REICHSTETTER

I

ncoming 2019 RAR/CVR MLS President Curt Reichstetter believes that 2019 is full of possibilities for real estate, the Association and its members.

“I’m delighted and honored to be succeeding Susan Swink as President of RAR and CVR MLS—Susan has done a tremendous job, and I look forward to building on her accomplishments,” Reichstetter said.

“We’ve got an exciting year ahead of us in 2019. My priority is to encourage more members to give to the REALTOR’s Political Action Committee (RPAC). Each and every one of us benefits from the work of RPAC; all of us should be making an annual contribution.”

“

“This year, RAR made incredible strides to provide members with resources to succeed,” Reichstetter continued. “The association provided more than 200 classes, produced a brand new stock library with incredible photography and videography for members, and killed 26 bills during this year’s general assembly which would have had a negative impact on our industry. RAR is here to protect us as members and to provide us with the tools we need to perform our job efficiently and effectively—I hope to inspire and continue this tradition of protecting and serving our industry well during my term as President.”

RAR is here to protect us as members and to provide us with the tools we need to perform our job efficiently and effectively.

”

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GOVERNME N T A FFA IR S

PHA Transition

I

n January of 2004, the Richmond Association of REALTORS® founded the Partnership for Workforce Housing. Eventually the nonprofit changed its name to the Partnership for Housing Affordability (PHA) to reflect its intention to address the full gamut of affordable housing challenges—from homelessness to home ownership.

In the years since its founding, PHA has worked to ensure that the creation and maintenance of an adequate supply of affordable housing is a public policy priority. Through initiatives such as Affordable Housing Awareness Week, the nonprofit has shone a spotlight on housing; and through biennially published reports, PHA has provided public officials with the resources they need to enact policies that increase the number of affordable units throughout the region.

In its early years, REALTOR® Ned Massie served as the Chair of the Board for PHA. But for more than a decade, REALTOR® Jim Napier has graciously led PHA as its Board Chairman and he will continue to do so. But now Jim has a new Executive Director at his side. Laura Lafayette, CEO of RAR and CVR MLS, had also served as the lead staffer of PHA for the past fourteen years. Recently, Laura decided it was time to pass the baton of executive leadership to Elizabeth Hancock Greenfield, RAR’s Vice President of Governmental Affairs.

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“

For the last couple of years, PHA has really begun to focus on the development of public policies that will move the needle on housing.

“Given that Elizabeth has a background in governmental affairs and has earned two master’s degrees focusing on planning and public policy, it makes perfect sense for her to assume the role of Executive Director. She can give the challenge of affordable housing—and all the many issues it connects with such as education, transportation, land use, workforce development—the attention it deserves,” explains Lafayette. “I’m not walking away from PHA, I’ll remain deeply involved by serving

Elizabeth Hancock Greenfield

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”

on its Board of Directors. My passion for PHA specifically and my commitment more broadly to helping make metropolitan Richmond a community of opportunity for all our residents have not waned. But I’m always talking about supporting the next generation of leadership, so it’s important that I practice what I preach. Turning the reins of PHA over to Elizabeth allows me to do this; and I know the organization is in exceedingly capable hands,” concludes Lafayette.

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Join the Real Estate Elite

Many thanks to our 2018 RPAC major donors.

This list reflects only RPAC contributions received before October 11, 2018.

To be recognized on these pages as a member of the Real Estate Elite, simply make a contribution of $250 or more to Richmond RPAC. Log in to RARealtors.com and look for the RPAC contribution link on your member profile page.

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Golden R | $5,000

CLAIRE FORCIER-ROWE Long & Foster REALTORS®

TOM INNES RE/MAX Commonwealth Hall of Fame Member

TOM JEFFERSON, III Joyner Fine Properties Hall of Fame Member

KAREN SMITH RE/MAX Commonwealth President’s Circle Member

JACK TORZA Long & Foster REALTORS® President’s Circle & Hall of Fame Member

BILL WHITE Joyner Fine Properties President’s Circle & Hall of Fame Member

Crystal R | $2,500

BRIAN HAUG Long & Foster REALTORS®

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LIBBY GATEWOOD Napier Realtors ERA

Sterling R | $1,000

GAIL AILOR Fathom Realty Virginia

DAWN BRADLEY Long & Foster REALTORS®

JIM & FRAN BROOKS Town & Country Sales and Management

MARITA DORR Napier Realtors ERA

BLAKE EUDAILEY Real Living Eudailey Real Estate

JOHN FINN United Real Estate Richmond

WAYNE GAUTHIER Joyner Fine Properties

DEE HALL Long & Foster REALTORS®

RHONDA HOWLETT Clocktower Realty Group

NATHAN HUGHES Sperity Real Estate Ventures

ANNE INNES RE/MAX Commonwealth

JIM NAPIER Napier Realtors ERA

KURT NEGAARD RVA Rental Properties

JOHN O’REILLY BHG Base Camp

KATY RICHARDS HMS National Inc.

TODD ROGERS Hometown Realty

Continued on the following page

»

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Sterling R | $1,000

CATHY SAUNDERS Long & Foster REALTORS®

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SUSAN SWINK Long & Foster REALTORS®

LARRY TERRY LET Properties

Governor’s Club | $500

WES ATIYEH Joyner Fine Properties

DON ATKINSON RE/MAX Signature

JENNIE BARRETT SHAW Joyner Fine Properties

THE DAVIS TEAM Long & Foster REALTORS®

MARY K McDONALD Virginia Properties Long & Foster

LIZ MOORE Liz Moore & Associates

MONICA RAWLES Long & Foster REALTORS®

CURT REICHSTETTER Joyner Fine Properties

KAREN STEPHENS Joyner Fine Properties

LINDA TERRY Tranzon Fox Auctions

ELIZABETH WEIS United Real Estate Richmond

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Capitol Insider | $250

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CINDY BARNETT Long & Foster REALTORS速

NANCY CHEELY Joyner Fine Properties

SUSAN CULLEN Long & Foster REALTORS速

MARIANNE DONAHUE Long & Foster REALTORS速

SUE FARRELL Joyner Fine Properties

MAHOOD FONVILLE Shaheen Ruth Martin & Fonville

ELEANOR GOODE Metropolitan Real Estate Inc

CHERYL HAMM Joyner Fine Properties

KATHERINE HAWKS Joyner Fine Properties

EARL JACKSON BHHS PenFed Realty

MARK JOYNER Napier Realtors ERA

JODY KORMAN RE/MAX Commonwealth

JOHN KRUG American Home Shield

JEAN LONGEST Long & Foster REALTORS速

JOHN MARTIN Shaheen Ruth Martin & Fonville

BILL MATTOX Colliers International

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HEATHER REICHSTETTER Joyner Fine Properties

ERNIE ROGERS River City Auction and Realty

Continued on the following page

CHRISTINA ROYAL Virginia Properties Long & Foster

»

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Capitol Insider | $250

SCOTT RUTH Shaheen Ruth Martin & Fonville

SCOTT SHAHEEN Shaheen Ruth Martin & Fonville

BOYD SMITH RE/MAX Commonwealth

DIANNE STANLEY RE/MAX Signature

DARE TULLOCH Virginia Properties Long & Foster

JAMIE YOUNGER Virginia Properties Long & Foster

RAR Members Recognized at Virginia REALTORS®’ 2018 Awards

BY JOHN LE

V

irginia REALTORS® announced its 2018 Award Winners honoring the year’s most accomplished Realtors. The ceremony was held on September 26 in Norfolk— in conjunction with ACCELERATE 2018, the Virginia REALTORS® Annual Convention.

The ceremony celebrated excellence in various areas of real estate, including brokerage, education, and other business achievements. These awardees were selected by a committee of peers as standouts among an association of more than 34,000 members.

Virginia Rose was inducted posthumously into the Hall of Fame, which honors Realtors who have made extraordinary and distinguished contributions to the real estate profession in Virginia over a period of twentyfive years or more.

Virginia Rose

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Another RAR member, Libby Gatewood, received the George Rink Outstanding Real Estate Educator Award recognizing the educator who has made the most significant contributions to and exemplified leadership and service in real estate education at either the state or local level.

Libby Gatewood

“I’m honored to be presented with the George Rink Outstanding Real Estate Educator Award,” said Libby Gatewood. “Real Estate, education and mentorship have always been missions close to me and my journey within this profession.”

I’m humbled to take home this award knowing that there are so many passionate and hard-working Realtors in Virginia.

”

Legal Update for Teams B Y P E G G Y LY N C H

Effective Tuesday, January 1, 2019

}

All real estate teams must be registered with the Virginia Real Estate Board (VREB).

(Required by Virginia Code ยง54.1-2100 and ยง54.1-2106.1 D)

The new law defines a team as two or more individuals, one or more of whom is a licensed salesperson or broker, who:

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1.

2.

3.

Work together as a unit within the same real estate firm.

Represent themselves to the public as working together as a unit.

Designate themselves by a fictitious [team] name.

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GETTING START E D :

1. Determine your legal entity: The most common type of legal business entity utilized by teams is a limited liability company, but there are other types of entities, such as a corporation or partnership. Your attorney or accountant should advise you regarding the best entity type for your team.

2. File with the Virginia State Corporation Commission: If your business entity is a corporation, LLC or limited partnership, you must file your business entity with the SCC. You can file online using the SCC’s eFile found on their website. Once your filing is complete, you will receive your SCC entity number required for the DPOR application. If you are using a DBA for your business name, you must file a certificate for your fictitious name/DBA with the Clerk of the Court in the locality where you will be conducting business and with the SCC. You can find out more information on business formation and fictitious names under the FAQ section on the SCC website.

3. Obtain a Federal Employer Identification Number (“FEIN”—your taxpayer ID): A FEIN is your taxpayer ID. It’s not only required for tax purposes, but DPOR requires it for legal entities other than a sole proprietorship. You can apply online at IRS.gov.

4. Complete DPOR’s Business Entity License Application: Submit your application as early as possible to avoid processing delays.

The application is available on the DPOR.virginia.gov website.

NOTE: You will need to submit a Business Entity Add On/ Removal Form, if at any time, you add or delete licensees compensated by your team.

THE TO-DO LIST 5. Check with your local government about business license requirements: Business license requirements can be found on the websites of local governments: Richmond: richmondgov.com Henrico: henrico.us Charles City: co.charles-city.va.us Chesterfield: chesterfield.gov Goochland: goochlandva.us Hanover: hanovercounty.gov King William: kingwilliamcounty.us New Kent: co.newkent.state.va.us Powhatan: powhatanva.gov 6. Update E & O and other business insurance policies: Once you have established your business entity, update all business insurance policies to include your business entity name as a covered insured.

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Consumer Campaign Stock Library

BY JOHN LE

CVR MLS and the Richmond Association of REALTORS® partnered with a local creative team, specializing in photography and film, to produce content for consumer placements and a stock library for member’s marketing use.

The campaign launched with a set of Fall/Winter photos centered around Richmond localities, landmarks, Realtors and clients. The library was expanded in August 2018 with a Spring/Summer set—which brings the new downloadable content

available for Realtors to over 1000 high-quality photos, graphics, and videos. RAR will host tutorial workshops in the Spring of 2019 focusing on utilizing these materials in member marketing.

The campaign is supported by the consumerfacing site, WeAreTheR.com. Ads incorporating the new stock library appeared in print and digital consumer placements with the tagline “Your Home, Your Community,” to draw consumers to resources promoting the importance of using a Realtor.

Marketing Content Made for You.

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ALL MARKETING CONTENT FOR REALTORS’ USE IS HOSTED AT: RARealtors.com/ MarketingContent

New Ethics Citation Program B Y P E G G Y LY N C H

A

s part of the Richmond Association of REALTORSÂŽ ongoing efforts to increase professionalism in the marketplace for members, the RAR Board of Directors has adopted the NAR Ethics Citation Program. The Citation Program is designed

to streamline the ethics hearing process and protect the interests of the public.

H OW IT WORKS

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1.

2.

3.

A REALTORÂŽ or a member of the public would file a complaint using the standard ethics complaint form.

If the Grievance Committee/Citation Panel determines that the Article(s) cited in the complaint are eligible for the Ethics Citation Program, and if there is enough evidence provided to prove a violation has occurred, the Respondent will be notified and given twenty (20) days to elect to pay the citation or request an ethics hearing.

If the respondent agrees with the violation(s) alleged in the Ethics Citation, he/she would pay the standard pre-set fine associated with the Article(s) cited in the complaint.

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Questions?

If you have questions W H AT AR E TH E BE N E F I TS ?

The Citation Program offers both complainants and respondents the potential opportunity of avoiding the often uncomfortable and time-consuming formal hearing process, while maintaining the consequences for unethical behavior already available under the existing Code enforcement procedure. Additionally, a complainant’s identity is kept confidential, if the respondent opts to pay the standard fine.

concerning the Citation Program, call Paul Maxwell at 804.422.5020 or Peggy Lynch at 804.422.5006.

A respondent’s rights to due process are respected as they retain the option of proceeding to a full hearing rather than paying the standard fine. Confidentiality is maintained in the Citation Program just as in the hearing process.

ARE T HE R E RE STRIC TION S O R LIMITATIONS? Only ethics cases where all alleged violations are citable (contained in the list on the next page) are eligible for the Citation Program; cases which contain any non-citable violations are referred for a full hearing.

No more than two citations will be issued to a member within a consecutive 12-month period and no more than three within a consecutive 36-month period. No additional citations are permitted for a member whose cumulative fines would be more than $5,000 in a 3-year period at the same association.

For the full list of violaitons eligible for the Citation Program, go to the next page

»

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CO D E O F E TH I C S VIOLATION S Please note that the Ethics Citation Program is limited to these violations only. Other Code of Ethics violations and arbitration/ mediation services follow the regular complaint process.

ARTICLE 1 SOP 1-5

$250

Failure to disclose dual representation and obtain the informed consent of both parties.

SOP 1-16

$250

Accessing or using, or permitting or enabling others to access or use, listed or managed property on terms or conditions other than those authorized by the owner or seller.

ARTICLE 3 SOP 3-2

$500

SOP 3-8

$250

Listing broker attempting to modify unilaterally the offered compensation with respect to a cooperative transaction after another REALTOR® has submitted an offer.

Misrepresenting the availability of access to show or inspect listed property.

SOP 3-4

SOP 3-9

$250

Failure to disclose existence of dual- or variable rate commission.

SOP 3-6

$250

$250

Providing access to listed property on terms other than those established by the owner or listing broker.

Failure to disclose to cooperating brokers existence of accepted offers.

ARTICLE 4

$250

REALTOR® failing to disclose own interest in a property being bought or sold.

ARTICLE 5

$250

Providing professional services without disclosing interest in the property.

ARTICLE 6

$250

Accepting commission, rebate or profit on expenditures made for a client without their knowledge and consent.

ARTICLE 12

$250

Failure to present a true picture in real estate communications and advertising.

Failure to disclose professional status in advertising or other real estate communications.

SOP 12-1

$250

SOP 12-7

$250

Failure to provide all terms governing the availability of a “free” product or service in an advertisement or other representation.

Claiming to have “sold” a property when not the listing- or cooperating broker.

SOP 12-4

SOP 12-9

$250

Advertising to sell or lease property without the authority of the owner or listing broker.

Failure to disclose firm name and state of licensure on REALTOR® firm website.

SOP 12-5

SOP 12-13

$250

Failure to disclose name of firm in advertising listed property or real estate services.

SOP 12-6

$250

$150

REALTOR® representing they have a designation, certification or other credential they are not entitled to.

$250

Failure to disclose status as owner/landlord and REALTOR® or licensee when advertising property in which REALTOR® has an ownership interest.

ARTICLE 14

$500

Failure to cooperate in any professional standards proceeding.

ARTICLE 16 SOP 16-16

$500

Using terms of an offer to modify listing broker’s offer of compensation or conditioning submission of an offer on additional compensation from the listing broker.

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LISTED | 2018

SOP 16-19

$250

Placement of a for sale/lease sign on property without permission of seller/landlord.