March 2013

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LISTED m a g a z i n e

PROTECTING, PROMOTING

AND PRESERVING HOMEOWNERSHIP

+ Affordable Housing Awareness Week + Spring: The Season for Comparative Market Analyses + CE for Free

a magazine of the richmond association of REALTORS速 rarealtors.com

SHAHEEN LAW FIRM, P.C. •Real Estate • Personal Injury • Civil Litigation• Estate Planning • Business Formation

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RESPONSE TIME

Fast turn around time to calls, emails and faxes.

PROACTIVE MEASURES

Our attorneys are proactive in communicating with agents and clients at all stages of the closing process.

PERSONAL SERVICE

The owner, Victor Shaheen, is available by cell phone 24/7 at 804.840.9405 to answer questions at no cost.

•Contact Us Today•

Victor A. Shaheen 804.474.9405 vicshaheen@shaheenlaw.com

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Austin Wallace, IV 804.474.9433 austinwallace@shaheenlaw.com

W. Mark Dunn 804.474.9418 mdunn@shaheenlaw.com Civil, Criminal & Traffic Litigation

Matt Vaughan 804.474.9435 mvaughan@shaheenlaw.com

Everett M. Gardner 804.474.9452 egardner@shaheenlaw.com Civil, Criminal & Traffic Litigation

www.ShaheenLaw.com Richmond Office

8890 Three Chopt Rd. Richmond, Virginia 23229 P 804.285.6406 F 804.285.8048 •RICHMOND • BLACKSBURG• VIRGINIA BEACH• NEWPORT NEWS

FROM THE PRESIDENT Linda Terry

As I sit to write my first article of 2013, the holidays are a few weeks behind us, yet they seem a distant memory.

Richmond’s first snow of the year is disappearing as quickly as it fell. If the rest of 2013 moves as rapidly as January, the year will come and go before we know it.

Here at RAR, we have an exciting, incredibly busy year ahead of us. First and foremost, we are sharing with the media the continued good news of a housing recovery.

Within CVR MLS, members sold over 1,200 more homes in 2012 than in 2011. If interest rates remain low, jobs continue to materialize, and consumer confidence remains high, pent up demand should drive an even stronger housing market this year. New housing starts are seeing an exciting comeback in 2013.

Second, by the time you read these words, we will have hosted over 90 members at a smart growth seminar. It wasn’t long ago that “smart growth” was code for “no growth.” But that’s no longer the case. We now know that many of today’s home buyers are seeking communities in which they can live, work, and play. Developments that utilize smart growth principles will deliver what today’s market is demanding.

“What the market demands” could serve as the theme of much of our programming this year. On March 20, we will release a study—commissioned by RAR and conducted

by George Mason University—which examines the number of jobs that will locate in the region in the next twenty years and assesses whether the current housing inventory, coupled with land zoned for future housing, is sufficient to ensure that the region remains economically competitive. I hope you will join me on Wednesday, March 20, 9:00am – 11:00am, at the Jepson Alumni Center at the University of Richmond for the release of this critically important study. rarealtors.com

In April, we’ll take a slightly different look at the housing market when we explore “Understanding Today’s Buyer and Preparing for Tomorrow’s,” a seminar that will feature an analysis of the lifestyle and buying preferences of the multiple generations in today’s market. Plan to join us and hear first-hand from recent buyers about how they conducted their home search and what they expected of their REALTOR®. Finally, in October, we will hold our biennial TRENDS event, this year featuring political commentator Bob Holsworth and economist Chris Chmura.

I’ve highlighted just a few special events; but it’s important to note that throughout the year, as a benefit of your membership in RAR, you have the opportunity to enroll in thirty-one classes that offer free continuing education credits. While we work hard to train members, we remain equally committed to educating the public about the value of REALTORS®. Our WeAreTheR campaign will continue in 2013, with a new twist. REALTORS® are not only the advisor, navigator, and supporter in the transaction; but also work tirelessly at the local, state, and national levels to be the protector, promoter, preserver of private property rights and affordable home ownership opportunities.

Whether it’s seeking the elimination of local cash proffers or fighting attempts to modify the Mortgage Interest Deduction, the REALTOR® association advocates for you and your clients. Home ownership matters; and so does RPAC. Your contributions to the REALTOR® Political Action Committee support the work of our lobbyists. Giving to RPAC and going to the polls are the two best ways to make your REALTOR® voice heard. I ask you to join me in contributing to Richmond RPAC; and I hope you will join me at RAR events many times along the way in 2013. Here’s to an exciting year.

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Feature Working to Protect, Promote and Preserve Homeownership

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Association News Listed Magazine is published triannually by: Richmond Association of REALTORS® 8975 Three Chopt Road Richmond, VA 23229 Editor-in-Chief Kate Loveluck Marketing & Public Relations Manager

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CVR MLS Spring: The Season for CMA Tech Tips, MLS Training Schedule

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Advertising & Sponsorship Lisa Garcia 804-422-5009 marketing@RARealtors.com

Meet the Board

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Printing & Production Worth Higgins & Associates

Education Calendar CE for Free

Graphic Design The Flores Shop Office: 804-422-5000 Fax: 804-422-5088 Web: RARealtors.com Copyright © 2013. 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. Any questions about the advertising policy should be directed to the Managing Editor or the Director of Communications and Marketing.

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Understanding Today’s Buyers, MLS Billing Dates, RAR Leadership

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2013, issue 1

Professional Development 12 14

Government Affairs 2012 RPAC Donors

16

Highlights from NAR® 2012 Profile Report

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Tax Tips

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AHAW

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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

rarealtors.com

Make your clients happy.

And make a commission. And a bonus.

3% plus $5-$10K bonus at Richmond’s only riverfront community.

With incredible views of the James, a vibrant riverfront lifestyle and all the amenities your clients are looking for, homes at Rocketts Landing really sell themselves. But that won’t stop us from giving realtors their full 3% commission – plus a bonus of $5,000 to $10,000. Located just three minutes from downtown, this urban neighborhood allows its residents to enjoy the outdoors, history, dining and more in a way they never thought possible. And the price range of $179,900 to over $1 million is sure to suit every budget and style.

Don’t let your clients miss their chance to live on the river. Learn more by visiting our Sales Center, Monday through Friday from 10 am to 5 pm, and Saturday and Sunday from noon to 5 pm.

You can find more details in the MLS under “The Village of Rocketts Landing” in Area 40.

Financing available as low as 1%*.

Down payment as little as 3.5%.

Call 804-222-5011 or visit rockettsvillage.com for more information. * Interest rate based on a 30 yr FHA fixed rate loan with a note rate of 4% and a 3-2-1 temporary buydown: Year 1=1%, year 2=2%, year 3=3%, years 4-30=4%. APR of 4.8651%. Assumes a purchase price of $179,900, a base mortgage of $173,603.50 and a total mortgage of $175,339 with upfront FHA Mortgage Insurance included in the loan amount, a 3.5% down payment and 740 credit score.

FHA guidelines apply to purchasers; this is not an offer to extend credit. Offer good thru June 30, 2012 w/use of preferred lender & title company. Purchaser must settle by July 31, 2012. Offer subject to withdrawal at any time without notice. Interest rate subject to change without notice. rarealtors.com

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ASSOCIATION

NEWS

Affordable Housing Awareness Week April 22 – 27, 2013 Join fifteen non-profit housing organizations to ensure that everyone in the Richmond area has a safe, affordable place to call home.

We need your help to build and repair homes for your neighbors in need.

For more information and to register for events and community projects visit AffordableHousingRichmond.com.

2013 Holiday Closings

RPAC Donor Photos

RAR and CVR MLS offices will be

Contribute $99 or more to RPAC before March 31 and get a free update to your

closed on the following holidays:

professional photograph in April. Please call 804-422-5000 for more information.

May 27 (Memorial Day) July 4 & 5 (Independence Day) September 2 (Labor Day) November 28 & 29 (Thanksgiving) December 24 & 25 (Christmas)

Understanding Today’s Buyers & Preparing for Tomorrow’s Wednesday, April 24, 2013, 3 – 5pm at the Virginia Museum of Fine Arts Distinguished Achievers Reception to follow immediately $20 before March 23; $25 March 23 – April 19 Free for all 2012 Distinguished Achievers

MLS Billing Dates BILLED:

DUE:

March 1, 2013

March 29, 2013

June 3, 2013

June 28, 2013

September 2, 2013

September 30, 2013

December 2, 2013

December 31, 2013

Gain valuable insights into generational dynamics, technology adoption and use, and communication preferences among homebuyers and sellers.

3 – 4pm: Insights into Your Clients’ Generation with John Martin, Southeastern Institute of Research 4 – 4:45pm: Multi-Generational Buyers Panel moderated by Linda Terry, 2013 RAR President

RAR Membership Fees 2014 BILLED:

DUE:

October 1, 2013

October 31, 2013

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4:45 – 5pm: Putting it All Together with Mark Joyner, 2013 RAR President Elect Email kburke@RARealtors.com or call 804-422-5010 to register.

rarealtors.com

2013

RAR LEADERSHIP

2013

DIRECTORS David Adams Dawn Bradley Nancy Cheely Gary Duda Carol Haley Thomas Innes Cindy Jez

Linda Terry 2013 President

Mark Joyner 2013 President Elect

rarealtors.com

Scott Ruth 2013 Immediate Past President

John S. Finn, Jr. 2013 Vice President

Lummie Jones Michael Maloney Jim Napier John O’Reilly Christina Royal Boyd Y. Smith

USEFUL

URLS

Grassroots Action Center realtoractioncenter.com

RAR Website RARealtors.com

RAR Education RARealtors.com/education

Bill Pay Site ims.centralvarealtors.com

Virginia Real Estate Board dpor.virginia.gov/boards/real-estate

CVR MLS Rules & Regulations cvrmls.myismart.com

Virginia Association of REALTORS® varealtor.com

RAR Government Affairs RARealtors.com/government-affairs

Consumer Website WeAreTheR.com 2013, issue 1

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CVR MLS

SPRING: THE SEASON FOR CMA John Hicks, RAR Technical Education Specialist The uptick in the residential real estate marketplace is a welcome trend, and this coming spring holds promise of even stronger sales.

Hopefully, homeowners will feel increasingly better about their prospects, and that will mean more listings. One of the foundations of the listing presentation is a high quality Comparative Market Analysis. Tempo™ and IMAPP™ are the best sources of information to create a highly professional CMA. Here are some helpful tips:

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KNOW YOUR SUBJECT PROPERTY You probably need to learn everything you can about a house you have never seen before. Your first step might be to use

Find a Listing to see if the property has ever been in the MLS. Search by address and find every available MLS printout.

You can get all the details on the property, look at multiple photos, and if you are lucky, there may still be a virtual tour attached to the listing. Next, you will want to check the Detail History Report . See how many times it has been listed.

Have there been price reductions? Has it gone under contract, gone back on the market, or expired? The seller will remember all those events, so you should know about them. Next, map the property and print it, so you know exactly where it is and what is around it. In IMAPP™ tax records, you can also get an oblique aerial map, showing a satellite view of the property and the surrounding properties. While in IMAPP™, be sure to print out the tax record for the property, and examine it for additional information.

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KNOW YOUR NEIGHBORHOOD MARKETPLACE

If the property is in a subdivision, you will want to investigate all the activity in that subdivision for at least the past few years. Your seller will already know much of that information and will expect you to as well. If it is not in a subdivision, try using a map search to see what has been listed or sold in the surrounding mile or two. You may even want to map active and sold listings in the vicinity. But don’t limit yourself to just the subdivision or immediate area.

Look at other similar subdivisions, or the area surrounding the subdivision.

Become an expert on your seller’s neighborhood and market area.

When searching for comparable listings, keep it simple and as similar as possible on the major features.

Do as few adjustments as you can; only those which are necessary. Remember that active listings will be the property’s competitors, pending listings are what have drawn recent interest, expired listings did not work (and can sometimes point to pitfalls), and solds will help give you numbers upon which to base pricing.

Remember, also, that not all sold listings were sold by real estate agents. Search in IMAPP™ for recently sold listings as well. Those

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with a matching MLS record will have a REALTOR® logo. Those that do not have the logo are possibly For Sale by Owner sales.

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KNOW YOUR COMPARABLES & PRICE POINTS

KNOW YOUR MARKET TRENDS

RE Stats™ is a very robust market trend system, but there are

some simple graphs and charts that you can create and print.

Go to Financials on the Tempo™ top menu, and click on RE Stats™.

Use the search tools (Open Search Panel button) at the top to narrow your data to your listing’s market area, but allow a large enough pool of numbers to create reliable trends. Try using an Area number (36, 44, or 62 for example). Then click the Submit button to run the search. Under Key Reports, in the lower left corner, you will find simple graphs that will chart the market month to month for a year, based on indices such as Units, Average Price, Sold/Listed price (S/A%) or Days on Market (DOM). Summary reports are nicely formatted for printing and presentation, and there is a variety from which to choose. Inventory Supply and Absorption can be found in the Inventory

Analysis Dashboard. Just find a few items that you can use to track recent market trends that your client will understand.

There are two CMA reports available in Tempo™; the Quick CMA and the CMA Wizard .

The Wizard is easy to follow, and will walk you through creating a nice presentation quality CMA report. The Quick CMA will give you a simple 1 to 2 page summary style report that you might even add to the CMA Wizard report, as a summary page.

Tip: Practice a CMA Wizard report or two with properties you know well before you create one for an actual client.

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CVR MLS

Tech Tip: Instanet™ Folders and Quick-Start Groups John Hicks, RAR Technical Education Specialist

The latest feature in Instanet™ Solutions is the new Folders tree. The CVR MLS forms in Instanet have been organized into folders based on the use of the various forms. For example, you will find Listing forms in a folder, Purchase Agreement forms in a folder, and Disclosure forms in another folder.

This makes finding the form you need a snap. If you are unsure where a form is

CVR MLS CLASSES

APRIL 2013 – AUGUST 2013 A great way to earn free CE/PL credits!

APRIL MON 08 1pm – 3pm

MON 22 1pm – 4pm

TUES 09

FRI 26 9am – 11am

RE Stats

MLS for Appraisers 9am – 12pm e-Deal 1pm – 3pm

Tempo™ CMA

Rules of the Road

TUES 16 10am – 12pm

Authentisign™/Doc Box™

MAY

located, there is still a folder named

All CVR MLS Forms, that literally contains all the forms in the order and

MON 06 1pm – 3pm

Instanet™/Transaction Desk

TUES 14

Buyer Prospecting 9am – 12pm eDeal 1pm – 3pm

format you have been used to seeing them in Instanet.

JUNE

There is another significant use for this folder tree that can make a real difference in how you use transaction and listing forms, and how you set up transactions in Instanet. Now, when you create Quick-Start Groups, most of the forms you need for a group will likely be all in one folder. Any additional forms you want should be easy to find

FRI 07 1pm – 3pm

Authentisign™/Doc Box™

MON 24 1pm – 3pm iMapp™

THUR 20 9am – 11am Rules of the Road

JULY MON 08 1pm – 3pm e-Deal

THUR 18 1pm – 3pm

Instanet™/Transaction Desk

in other folders.

Quick-Start Groups allow members to combine all the forms needed for a Listing or a Purchase transaction into a single group and then work with all the forms at the same time. Using the

TransactionDesk Wizard, you can put the buyer’s or seller’s name into all the documents, or the address, the price, and more. Click on the Settings tab in Instanet Pro and go to Quick-Start

Groups to see how to create these convenient document bundles. To attend one of the regularly scheduled Transaction Desk classes, register at

AUGUST TUES 06 10am – 12pm

Authentisign™/Doc Box™

THUR 08 9am – 11am

FRI 16

Tempo™ CMA 9am – 12pm Top 10 Tempo™ Tips 1pm – 3pm

RE Stats

FOR MORE INFORMATION OR TO REGISTER phone: 804-422-5000

web: RARealtors.com/education

email: edu@RARealtors.com

RARealtors.com.

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MEET THE

BOARD OF DIRECTORS OFFICE AND YEARS IN REAL ESTATE: Vice President of New Homes and Marketing, Long & Foster Richmond Region I’ve been active in real estate since 1984 – I began with Bowers, Nelms & Fonville.

DESIGNATIONS:

CSP, CSA, and CRS

Cindy Jez

EXPERIENCE AT RAR:

I’ve served on various committees throughout the years. I most recently served as Chair of the Communications Committee.

HOW DID YOU GET INVOLVED IN REAL ESTATE? Real estate runs in my family blood; my grandmother was a REALTOR® for over 50 years. My brother, Larry Mills, encouraged me to go into the business.

FAVORITE REGIONAL TRADITION:

I love attending the Greek Festival every year. I also enjoy fireworks at The Diamond on the 4th of July, and the National Folk Festival.

FAVORITE VACATION SPOT:

Any place with sun and sand

HOBBIES & ACTIVITIES OUTSIDE THE OFFICE: I’m a mother to four sons, so I’m always on the go. In my quiet time I am an avid reader.

OFFICE AND YEARS IN REAL ESTATE:

Base Camp Realty of Richmond I’ve been in real estate for 14 years.

DESIGNATIONS:

ABR, CRS, and SFR

EXPERIENCE AT RAR: John O’Reilly

I’ve spent the last four years on the RPAC committee and currently serve as the Chair.

FAVORITE REGIONAL TRADITION:

I enjoy the Christmas lights downtown and the tacky lights tour; and also the Watermelon Festival and spring at Maymont Park.

FAVORITE VACATION SPOT:

The Outer Banks and Cape Cod

HOBBIES & ACTIVITIES OUTSIDE THE OFFICE: Golf, hockey, and travel

HOW DID YOU GET INVOLVED IN REAL ESTATE?

I loved the thought of making the sale and real estate seemed like a good place to put my talents to use. The last 14 years have been an amazing experience and very rewarding, both personally and professionally. I can’t wait for the next 14. rarealtors.com

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FOR MORE INFORMATION OR TO REGISTER (p) 804-422-5000

RAR EDUCATION CALENDAR

(e) edu@RARealtors.com (w) RARealtors.com/education

APRIL – AUGUST 2013

APRIL WED 10 9am – 5pm

MON 15 9am – 5pm

THUR 25 9am – 12pm

THUR 11 9am – 5pm

TUES 16 1pm – 3pm

MON 29 9am – 5pm

FRI 12 8:30am – 5pm

WED 17 8am – 5pm

TUES 30 9am – 12pm

THUR 02 9am – 12pm

FRI 10 9am – 4pm

MON 20 9am – 5pm

FRI 03 9am – 12pm

WED 15 8am – 5pm

TUE 21

THUR 16 9am – 5pm

THUR 23 9am – 5pm

MON 03 9am – 5pm

TUES 11 9am – 5pm

WED 19 8am – 5pm

TUES 04 9am – 5pm

WED 12 9am – 5pm

THUR 20 1pm – 4pm

MON 10 9am – 5pm

THUR 13 9am – 5pm

MON 24 9am – 12pm

WED 10 9am – 5pm

WED 17 8am – 5pm

MON 22 9am – 5pm

THUR 11 9am – 5pm

THUR 18 9am – 12pm

TUE 23 9am – 12pm

WED 14 9am – 5pm

MON 19 1pm – 4pm

*9am-12:30pm on 17, 19, 22, and 24 **9am-12:30pm on 23, 24, 29 and 31

THUR 15 9am – 5pm

WED 21 8am – 5pm

CE Mandatory – Session A & B CE/PL Session C & D CRS – Listings by the Dozen

Pre-Licensing Broker Appraisal* DPOR Firm Self Audit Workshop GRI 409 – Business Development

RSA – Residential Standard Agency Managing Single Family Homes Commercial Transaction Workshop

MAY Leasing Basics for RE Professionals RSA – Residential Standard Agency

WED 08 9am – 5pm

CE Mandatory – Session A & B

THUR 09 9am – 5pm

VRLTA

GRI 405 – Pricing, Listing & Marketing the Property Connecting with Generations: A – Z

Pre-Licensing Real Estate Brokerage** Broker Office Policy, 8am – 12pm Anatomy of the Residential Contract, 9am – 12pm Broker CE

CE/PL Session C & D

JUNE ABR Core (Day 1)

ABR Core (Day 2)

Pre-Licensing Broker Prep (Day 1)

Pre-Licensing Broker Prep (Day 2) CE Mandatory – Session A & B CE/PL Elective – Session C & D

GRI 406 – What Did I Agree To? RSA – Residential Standard Agency Advanced Contract Writing

JULY CE Mandatory – Session A & B CE/PL Electives – Session C & D

GRI 413 – Psychology of the Sale RSA – Residential Standard Agency

Broker CE

Fair Housing

AUGUST CE Mandatory – Session A & B CE/PL Electives – Session C & D

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RSA – Residential Standard Agency GRI 401 – Understanding Agency

rarealtors.com

RESIDENTIAL LEASE AND PURCHASE

TuesDAY, april 16, 2013 1pM – 4PM INSTRUCTORs: Attorney Michael Lafayette credits: CE: 3 hrs Contracts PL: 3 hrs Offer to Purchase

rar member fee: $55 before 4/9/13 $65 after 4/9/13*

contract workshop

This course is recommended for agents and brokers. Market conditions have spurred an increased demand for Lease-Purchase and Rent with Option to Purchase contracts. These types of hybrid agreements are challenging to create and can create risk exposure for the parties if not properly prepared. In this workshop, RAR Legal Counsel Michael Lafayette will show you how to protect your clients’ interests, appropriately conform the lease and/or contract documents, and avoid mistakes and omissions common in these arrangements.

MANAGING SINGLE-FAMILY HOMES and SMALL INVESTMENT PROPERTIES

monDAY, april 29, 2013 | 9AM – 5PM INSTRUCTOR: Raffi Bandazian credits: CE/PL: 7 hrs Elective

rar member fee: $79 before 4/22/13 $99 after 4/22/13*

One consequence of the current economy is an increasing number of homeowners and investors seeking property management assistance. Brokers and agents who take this course will come away with an in-depth understanding of the intricacies of managing single family homes and small investment properties and the knowledge to maximize the value and financial return of their clients’ properties. Course topics include management agreements requirements, ethical and legal considerations, risk analysis and insurance coverage, property maintenance guidelines and strategies, financial budgeting, record-keeping and reporting requirements, and marketing and leasing issues.

THURSDAY, MAY 2, 2013 | 9AM – 12PM INSTRUCTORs: Attorneys Linda Price & Beth Goodwin-Jones

LEASING BASICS

FOR RESIDENTIAL SALES PROFESSIONALS credits: CE: 3 hrs Legal Updates PL: 3 hrs Law

rar member fee: $55 before 4/25/13 $65 after 4/25/13*

In today’s challenging real estate market, some sellers are choosing to rent their homes and asking their listing agents to help them.

This three-hour class, taught by property management attorneys, is designed to help agents and brokers learn the fundamentals of a typical residential lease transaction, comply with state and federal law when showing property and screening prospective tenants, and understand the components of a standard lease agreement.

CONNECTING WITH GENERATIONS A - Z

THURSDAY, MAY 16, 2013 | 9AM – 5PM INSTRUCTOR: Gary Duda credits: CE & PL: 8 hrs Elective each, Counts as ABR Elective

NEW COURSE

rar member fee: $79 before 5/13/13 $99 after 5/13/13*

This one-day course examines the home buying characteristics of various generations and evaluates what they expect from their REALTOR® and the transaction, as well as communication preferences. As a turnkey resource, participants receive generation-specific marketing tools, networking tips, scripts and counseling strategies to help formalize agency relationships.

Register at RARealtors.com or call 804.422.5000 rarealtors.com

*Call for non-member pricing 2013, issue 1

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PROFESSIONAL DEVELOPMENT

CE FOR FREE

Opportunities for Members to Earn Free Credit Throughout the Year All classes are held at RAR’s facilities.

AUTHENTISIGN™/DOCBOX™ WORKSHOP

CVR MLS RULES OF THE ROAD

April 16, June 07 & August 06

April 26 & June 20

Authentisign™ is a free electronic signature tool available to

In this informative class, Peggy Lynch will explain the rules

all CVR MLS users. Learn how to create e-signatures, use

and regulations, as well as the enforcement process. Learn

them in accordance with state and Federal law, and track your

how these rules and regulations help you avoid DPOR and

transaction signing history. Docbox™ provides unlimited online

ethical violations, what your duties and rights are as a CVR

storage for your transaction files; hosts contact information;

MLS user, and what to do if you receive a warning notice.

provides fax and email send/receipt capabilities; and enables

Don’t miss this opportunity to avoid fines and penalties.

access to files from your PC or smart phone. Learn how to

Credit: CE 1 hour Ethics & 1 hour Law or PL 2 hours Electives

maximize your efficiency with the use of these tools.

Credit: CE/PL 2 hours Electives

BUYER PROSPECTING

iMAPP™ TAX RECORDS June 24 & September 06 Discover all the exciting new and powerful features of the

May 14

latest version of the iMapp™ tax records system.

Learn more about the Tempo™ prospecting system, a powerful

Credit: CE/PL 2 hours Electives

tool to manage your buyer customers. It provides the ability to automatically send listing information to your customers and allows you to effectively interact with them during the home shopping experience. It allows a variety of notification options for both you and your customer, and helps keep you and your buyers connected.

Credit: CE/PL 3 hours Electives

COMPARATIVE MARKET ANALYSIS (CMA)

INSTANET™ TRANSACTION DESK May 06 & July 18 This entry level forms class is ideal for the first time Instanet™ user. Learn how to access the forms library, review your system settings, create, edit, save, recall and email contract documents. In the Transaction Desk portion of class, learn to create Quick-Start document groups; set up and manage your transactions online, from any PC; utilize the Transaction

April 22 & August 16

Wizard to import listing information, schedule tasks, and

Learn how to research MLS data and use the Tempo™

distribute information.

CMA Wizard to produce a quality, professional-looking,

Credit: CE/PL 2 hours Electives

and effective CMA. Credit: CE/PL 3 hours Electives

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The courses listed below are several examples of ways RAR offers members opportunities to earn free CE and PL credits, through complimentary training in technology and best practices. RAR offers each of these courses several times per year. Don’t miss these excellent opportunities to stay current, while earning free credits. For a current schedule of classes, please visit RARealtors.com/education.

INSTANET™ WORKSHOP: THE E-DEAL

Top 10 Tempo™ Tips

April 09, May 14, July 08 & September 09

August 16

Learn the basic components of an online transaction. Learn

Learn tips and tricks for many of the CVR MLS products and

how to set up transactions files; create and modify contract

services. Learn more about advanced searching in Tempo™,

documents; utilize electronic signatures; document receipt

iMapp™ reports, Supra™ showing reports, helpful listing input

of electronic transmittals; and how to securely store and

techniques, and much more.

access all transaction related information.

Credit: CE/PL 2 hours Electives

Credit: CE/PL 2 hours Electives

MLS FOR APPRAISERS April 09 Learn more about researching the Subject Property & Valuation, using Tempo™; how to access information in iMapp™ Tax Records; and how to navigate RE Stats™ for the 1004 MC Market Conditions Form.

Credit: CE/PL 3 hours Electives

RE STATS NAVIGATOR April 08 & August 08 Learn how to present the details of your marketplace and market conditions with excellent information and high-quality graphs, spreadsheets and reports. Conduct inventory analysis, including absorption and supply.

Data can be broken out into multiple ranges and indexes. Show your customer and client you are the expert in your market area.

Credit: CE/PL 2 hours Electives

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GOVERNMENT AFFAIRS

JOIN THE REAL ESTATE ELITE $5,000

Tom Innes

RE/MAX Commonwealth (Presidents Circle Member)

Richmond Association of REALTORS®

Jody Korman

CAPITOL INSIDER $250 Gail Ailor

Long and Foster REALTORS®

RE/MAX Commonwealth

Kurt Negaard

Cecily Amrehein-Gallasch Joyner Fine Properties

RE/MAX Commonwealth

Scott Shaheen

Wes Atiyeh

Karen Smith

Dawn Bradley

Long and Foster REALTORS®

GOLDEN R $5,000 Tom Jefferson

Joyner Fine Properties

Jack Torza

Long and Foster REALTORS® (Presidents Circle Member)

RE/MAX Commonwealth

GOVERNOR’S CLUB $500 Jackie Atiyeh

Joyner Fine Properties

Bob Barton

CRYSTAL R $2,500 Bill White

Joyner Fine Properties

STERLING R $1,000 David Adams

RE/MAX Commonwealth

Katy Allenbaugh-Richards

First American Home Buyers Protection

Nathan Hughes Bandazian & Holden

Barton Real Estate Services

The Pam Davis Team Long and Foster REALTORS®

Blake Eudailey

Real Living Eudailey Real Estate

John Farrell

GrayCo Realty, LLC

John O’Reilly

Base Camp Realty of Richmond

Scott Ruth

Long and Foster REALTORS®

Philip Innes

RE/MAX Commonwealth

Joyner Fine Properties

Long and Foster REALTORS®

James Brooks

RE/MAX Commonwealth

Nancy Cheely

Joyner Fine Properties

Cabell Childress

Long and Foster REALTORS®

Hank Cosby

Hank Cosby Real Estate

Susan Cullen

Long and Foster REALTORS®

John Daylor

Joyner Fine Properties

Marianne Donahue

Long and Foster REALTORS®

Gary Duda

RE/MAX Action Real Estate

Frank Wright

Premier Appraisal Group

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MANY THANKS TO OUR 2012 RPAC MAJOR DONORS

Sue Farrell

Anne Innes

Karen Stephens

William Ferguson

Earl Jackson

Larry Terry

John Finn

Lummie Jones

Linda Staples Terry

Larry Foster

Mark Joyner

Leroy Vaughan

Nancy Frazier

Jean Longest

Dare Friedlander

Bill Mattox

William Gallasch

Mary K. McDonald

Joyner Fine Properties

Joyner Fine Properties

Dominion First Realty, Inc.

Long and Foster REALTORS®

Long and Foster REALTORS®

RE/MAX Today

Joyner Fine Properties

Wayne Gauthier Joyner Fine Properties

Margaret Gentil Virginia Properties

Eleanor Goode

Metropolitan Real Estate, Inc.

Cheryl Hamm

Joyner Fine Properties

Katherine Hawks Joyner Fine Properties

Woody Hogg

ERA Woody Hogg and Associates

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RE/MAX Commonwealth

Prudential Slater James River

Napier REALTORS® ERA

Napier REALTORS® ERA

Joyner Fine Properties

LET Properties, LLC

Tranzon Fox Auction

C. Porter Vaughan, Inc.

Long and Foster REALTORS®

Grubb & Ellis I Harrison & Bates

Virginia Properties

Jim Napier

Napier REALTORS® ERA

Monica Rawles

Long and Foster REALTORS®

Cathy Saunders

Long and Foster REALTORS®

Dawn Sclater

To be recognized on this page as a member of the Real Estate Elite, simply make a contribution of $250 or more to Richmond RPAC.

Paige Shaheen

Log in to RARealtors.com and look for the RPAC contribution link on your member profile page.

Sunshine Realty Group, LLC

Long and Foster REALTORS®

Boyd Smith

RE/MAX Commonwealth

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GOVERNMENT AFFAIRS

WORKING TO PROTECT, PROMOTE AND PRESERVE HOMEOWNERSHIP

RAR campaigns for advocacy issues

“Last year, RAR partnered with local and state home builder associations to advocate for policies that preserve affordable home ownership...”

In 2012, the RAR launched a marketing campaign called We Are the R.

The campaign has included print, billboard, and digital advertising, as well as promotional items distributed among members. RAR is pleased to continue and expand this campaign with additional media placements through 2013.

Given the conversation in Washington regarding the possible elimination or modification of the Mortgage Interest Deduction (MID), the potential reform of Fannie Mae and Freddie Mac, and the continued possibility of regulatory threats such as the Qualified Residential Mortgage (QRM), RAR will premiere a new leg to the campaign this year, focusing on REALTOR® advocacy for homeowners. RAR has produced additional ads that will point consumers to a new section of WeAreTheR.com, where stories will be shared about how REALTORS® are working to protect the rights and interests of homeowners, preserve affordable housing opportunities, and promote policies that are favorable to a healthy housing market.

Preservation of the MID ranks as a particularly high priority this year to REALTORS® and homeowners.

According to the National Association of REALTORS®, at 2008 rates and income levels, almost 11 million total tax returns were filed in the income class of $30,000 to $75,000 claiming the Mortgage Interest Deduction.

For those in the $30,000 to $40,000 income class, the average tax savings (as a percent of the tax bill) was 35.8%. Despite the beliefs of some that this tax incentive favors the wealthy, in reality it is a break that is much needed by middle-class homeowners and is of great importance to the housing market’s road to recovery. As the combination of residential investment and housing services accounts for 17-18% of our gross domestic product, any policy changes that could stall the recovery of the housing market would be detrimental to us all.

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This newest leg of the marketing campaign will

as a featured speaker at the Rally to Protect

educate the public on the many important roles a

Homeownership, held in October 2012 by the

REALTOR® plays; not only to the home buying and

Home Building Association of Richmond, the Home

selling transaction, but to the community and the

Builders Association of Virginia, and the National

nation at large. It will help keep consumers informed

Association of Home Builders. In addition, RAR led

about what’s happening in the industry and local

a partnership between local REALTOR® associations

market; show them the work local REALTORS® are

(Fredericksburg, Williamsburg, and Southside

doing for the betterment of the community; and it will

Virginia) to host a joint appearance of U.S. Senatorial

inform them of current legislation on the table and

candidates, Governors George Allen and Tim Kaine.

how REALTORS® are working to protect their interests.

The joint appearance successfully communicated the strength of the REALTOR® voice. These types of

Last year, RAR partnered with local and state

partnerships will continue as we grow the campaign

home builder associations to advocate for policies

in 2013 and tie in legislative and regulatory issues

that preserve affordable home ownership (i.e.,

affecting homeowners and the housing industry.

preservation of the MID). For example, RAR’s

— continued on next page

Chief Executive Officer, Laura Lafayette, served

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GOVERNMENT AFFAIRS

Also this year, RAR has launched a new quarterly electronic publication, called The Housing Interpreter, hosted on WeAreTheR.com. This resource for both REALTORS® and their clients contains current information about trends in the housing market, the homebuilding industry, homebuyer and seller preferences, and developments in the Richmond region. Links to each issue of The Housing Interpreter will be distributed to RAR members quarterly, by email. These publications can easily be shared with clients through email, blogs, and social media.

Spread the word.

RAR has assembled a webpage resource for members to download We Are the R images to place in their email signatures, websites, blogs, business cards, and anywhere else they would like. A link to download these images is available in the sidebar of Tempo5™ and Fusion™. Banner ads will be updated throughout the year, as new ones are created.

Lead clients to WeAreTheR.com with these images, where they will be educated on the value REALTORS® demonstrate on a daily basis.

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12/6/07 9:30:45 AM

HIGHLIGHTS FROM THE NATIONAL ASSOCIATION OF REALTORS

®

2012 PROFILE OF BUYERS & SELLERS

Recently, the National Association of REALTORS® released the 2012 Profile of Buyers & Sellers. What follows are some key findings of the report.

Married couples constitute 65% of all home buyers,

40% of buyers and 38% of sellers used an agent

the highest percentage since 2001. Conversely, only

who was referred to them by a friend or family

16% of all buyers were single females, the lowest

member, demonstrating once again that referrals

level since 2001. Of all buyers, 39% were purchasing

are an important component of any REALTOR®’s

their first home. Not surprisingly, the median income

marketing plan. And excellent customer service is

for first-time home buyers was significantly lower

essential to retaining clients with 90% of buyers

($61,800) than repeat buyers ($93,100).

indicating they would use their agent again; the number was even higher for sellers—93%.

Most buyers (79%) chose to purchase a single family detached home. In addition to their similar choice of

Finally, a factoid for any seller considering

housing type, the overwhelming majority of buyers

going into it alone: the typical For Sale by Owner

(90%) used the Internet in their home search process.

listing sold for $174,900; while a home listed

For 41% of these buyers, consulting online home

with a real estate professional typically garnered

search sites was the first step they undertook. While

$215,000—a sizable difference of $40,100.

buyers may have begun the home search process online, a full 89% engaged a real estate agent to assist them with the actual search—viewing an average of ten homes over twelve weeks.

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TAX TIPS: DOCUMENTING YOUR BUSINESS RELATED EXPENSES As the filing deadline for Federal taxes approaches,

A portion of your local, state and national REALTOR速 dues are

many REALTORS速 are hunting for deductions and receipts

considered deductible expenditures. The Federal Omnibus

for their 2012 business related expenses. You can obtain a

Budget Reconciliation Act of 1993 eliminated state and federal

complete record of all payments made to RAR and CVR MLS

tax deductions for any portion of dues used for lobbying

by logging into your online account. You have the ability to

activities. The estimated portions allocated by RAR, VAR

view and/or print all of your paid invoices for the previous year.

and NAR for lobbying on behalf of real estate interests are

Additionally, you can obtain a report detailing your completed

listed below. These amounts should be communicated to

education classes and the fee you paid for each class.

your tax consultant.

DUES

DEDUCTIBLE PORTION OF DUES

NON-DEDUCTIBLE PORTION OF DUES

RAR

$120

$101.40

$18.60 (12%)

VAR

$110

$93.28

$16.72 (15.2%)

NAR

$120

$76.00

$44.00 (36%)

NAR PUBLIC AWARENESS : $35.00 VAR ISSUES MOBILIZATION : $10.00

rarealtors.com

Note: VAR Issues Mobilization fee of $10 and the NAR Public Awareness Campaign special assessment of $35 are considered deductible expenses.

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APRIL 22 – 27

AFFORDABLE HOUSING

AWARENESS WEEK The Partnership for Housing Affordability will host

and repair their homes. Beyond Affordable Housing Awareness

the sixth annual Affordable Housing Awareness Week

Week worksite projects, there are various other events planned

(AHAW) April 22 – 27.

each year to educate and inform the public of this tremendous need in the Greater Richmond area. See the schedule on next

Join fifteen housing nonprofits as they work together to

page or visit the website at AffordableHousingRichmond.com

increase awareness about housing affordability in new and

for more information and to register.

innovative ways.

“We are pleased once again to sponsor this annual event and Since AHAW began, more than 2,500 volunteers from across

support a cause that is so important to many residents of our

the Richmond area have worked at over 170 worksites,

community and so vital to a more robust economic recovery for

improving the quality of life for hundreds of our neighbors.

our country. Our sponsorship of Affordable Housing Awareness

Many hundreds more have learned about affordable housing

Week allows us to support the many non-profit agencies who

issues within our community and have become more active

work tirelessly for others. It is rewarding to see government

and engaged in making a difference.

officials, business leaders, and the general public work together to improve the living conditions of our neighbors.”

AHAW is anticipated each year by local businesses, nonprofits, government officials, and most importantly, our neighbors in need who often work side by side with volunteers as they build

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—S teven R. Lohr, Executive Vice President Franklin Federal Savings Bank rarealtors.com

SPONSORS Title Sponsor

Leaders Bank of America

2013

AHAW SCHEDULE

April 22-27, 2013

APRIL 5

Bank of America Home Loans

“MAPPING RICHMOND: WHERE YOU LIVE MAKES ALL THE DIFFERENCE”

Capital One

This exhibit of GIS (Graphic Information Systems) research maps will trace the

Dominion

connection between poverty, housing, employment, and public policy in the

Virginia Housing and Development Authority

Richmond region from the 1930s through 2011, and will encourage important

Benefactors BB&T HandsOn Greater Richmond Richmond.com Richmond Association of REALTORS® Richmond Times-Dispatch

discussions about regional transportation needs, area growth, and economic development. The exhibit will open during First Fridays at UR Downtown and will feature a presentation by John Moeser, Senior Fellow at the University of Richmond’s Bonner Center for Community Engagement. A reception will follow.

APRIL 22 – 27

VCDC

“A DAY’S WORK FOR AFFORDABLE HOUSING”

Wells Fargo

A volunteer effort that asks employers to give their employees a paid day off, so

NONPROFIT

that they may work with an AHAW housing nonprofit partner. Over 500 volunteers

PARTNERS Better Housing Coalition Boaz & Ruth Community Housing Partners Homeward Housing Opportunities Made Equal Neighborhood Housing Services of Richmond Partnership for Housing Affordability project:HOMES Richmond Community Development Alliance Richmond Metropolitan Habitat for Humanity

participate each year, building and repairing homes, beautifying communities and improving our region’s quality of life.

APRIL 25

WALKING IN THEIR SHOES Coordinated by Homeward, this “homeless simulation” gives community leaders the opportunity to assume the identity of someone who might be experiencing homelessness. Participants must navigate the daily challenges faced by our region’s homeless population, including finding food, shelter, transportation, and needed resources.

APRIL 26

NEIGHBORHOOD BUILDING BLOCK PARTY During this wrap-up celebration, volunteers, residents, and members of the

Richmond Redevelopment & Housing Authority

community participate in a Building Block Party, celebrating a successful week of

Rebuilding Together of Richmond

activities will be held in the Fulton community this year.

Southside Community Development & Housing Corporation Virginia LISC

activities. This family-friendly event featuring food, entertainment and children’s

For more information about AHAW2013 visit AffordableHousingRichmond.com.

Virginia Supportive Housing rarealtors.com

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Understanding Today’s Buyers, and Preparing for Tomorrow’s a Special Presentation at the 2013 RAR Distinguished Achievers Reception

•Generational Dynamics •Technology Adoption and Use •Communication Preferences

Wednesday, April 24, 2013, 3pm-5pm at the Virginia Museum of Fine Arts

3p.m.-4p.m. Insights into Your Clients’ Generation, with John Martin, Southeastern Institute of Research 4p.m.-4:45p.m. Recent Buyers, Multi-Generational Panel, moderated by Linda Terry, 2013 RAR President 4:45p.m.-5p.m. Putting it All Together, with Mark Joyner, 2013 RAR President Elect

Email kburke@RARealtors.com or call 804.422.5010 to register.

FREE for all 2012 Distinguished Achievers | $20 Registration Before March 23, $25 March 23-April 19

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