SABOR Keeping Posted April 2022

APRIL 2022

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OFFICIAL MONTHLY NEWSLETTER FOR SAN ANTONIO AREA REALTORS ®

IN THIS ISSUE:

Legal & Ethics Real Estate Rebates

• Xcelerated Learning

• Welcome New Affiliate Members

• Legal & Ethics: Real Estate Rebates

• The Great SABOR Food Fight

• According to San Antonio Board of REALTORS® February Housing Trends, 2022 Remaining Steady for the San Antonio and Surrounding Area Housing Market

• Tax Time – What to know as a REALTOR® • Thank You to Our Advertisers

• Upcoming Board Events

Xcelerated Learning REALTOR® Academy is excited to announce that we now offer an accelerated pre-licensing program called Xcelerated Learning. This new program has a blended learning style that will allow individuals to go through pre-licensing courses in as few as three weeks instead of six.

The students will complete half of the course work for the six classes required for licensing at home and the other half of the six courses (15 hours each) in the classroom at REALTOR® Academy or live online. The 15 hours in person for each course can be completed in two days from 8 a.m.

– 5 p.m. each: Monday and Tuesday, Thursday and Friday, or Saturday and Sunday. They can also be completed Monday – Thursday from 6 p.m. – 10 p.m. Weekend and evening classes are a perfect way for individuals who want to become REALTORS®, but also need to continue working another job through the process.

Through the new blended learning, the amount of time needed in person for the courses drops from 24 days to 12 days over the six different courses.

According to data received from

the Texas Real Estate Commission (TREC), a major determining factor regarding sales agent pass rates is the time taken to start and complete pre-licensing education.

We have found that a student that completes courses in an accelerated program has a 20% greater chance of passing their licensing exams on the first attempt. Additionally, one who has completed an exam prep following an accelerated program has an 80% chance of passing. This is why REALTOR® Academy offers a pass or don’t pay guarantee, on our exam preparation product. With a state average of a 49% failure rate, accelerating your learning and preparing for your exams are key to getting a real estate license. Xcelerate your learning, Xcelerate your career, Xcelerate your life.

Get your future started today at: www.realtoracademy.com/realestate-careers/real-estate-license/.

Lately, questions about rebates in real estate are being asked more frequently. REALTORS® want to know if they, or another licensee, are allowed to give a rebate.

First, according to TREC Rule 535.147, a licensee is allowed to rebate some or all of their commissions to a party in the transaction, if the licensee has written consent from their client and sponsoring broker.

If you plan to advertise that you’re willing to rebate some of your commission, with your sponsoring broker’s consent, your advertisement must disclose whether the rebate is subject to any restrictions - such as the use of a certain service provider or the approval of a lender. If you are providing a rebate to the other party in the transaction, then you must also receive your client’s written consent before offering any such rebate. While a licensee is allowed to give a rebate, they are prohibited from paying anyone in a way that misleads a broker, lender, title company, or governmental agency regarding the transaction or the buyer’s financial resources or obligations.

Hopefully, this information is helpful to those of you that are looking to provide rebates to your clients or are involved in transactions where rebates are being provided.

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According to San Antonio Board of REALTORS® February Housing Trends, 2022 Remaining Steady for the San Antonio and Surrounding Area Housing Market San Antonio – According to February reports, 2022 is remaining steady with an increase in almost every category in the San Antonio metro area. The average price saw a 16 percent increase to $361,889 according to the Multiple Listing Service Report for the San Antonio Board of REALTORS® (SABOR). Median prices increased to $314,000, a 20 percent increase from 2021.

Even with these large increases, the area saw a 9 percent increase in total closed sales with 2,681 homes sold. The month closed with 3,437 new listings, 4,054 active listings, and 3,209 pending sales.

“2022 is showing a steady pace as we enter the last month of the first quarter with homes on the market for 38 days and 100 percent being sold for listing price,” said Tracie Hasslocher, SABOR’s 2022 Chairman of the Board. “We saw a steady increase in median, average price, and pending sales for the month of February.”

Price per square foot increased to $176 a 20 percent increase from 2021. The average home stayed on the market for 38 days, a decrease of 14 days from 2021.

Total Sales 2,681

Average Price

$361,889

Bexar County reported that the average price for the area increased 14.1 percent to $333,258 and the median price increased to $290,000, a 16 percent increase. 1,853 homes were sold, a 7.7 percent increase from 2021. 99.7 percent of homes were sold for list price and the price per square foot increased to $164.

Across Texas, 25,474 homes sold in February, a 14.1 percent increase from 2021. The average home sales price increased to $394,472, an increase of 13.8 percent, and the median price increased 20 percent to $330,000. Price per square foot increased to $180, a 20.1 percent increase. February closed with 30,486 new listings, 29,551 pending sales, and 1.1 months of inventory.

Across the state homes spent an average of 38 days on the market, 9 less than the average in 2021, and 99.9 percent of homes sold for listing price.

Median Price $314,000

San Antonio Area February 2022

UPCOMING BOARD EVENTS April 2022

15

SABOR Closed

21 - 22

21

Golfing Fore TREPAC

22

Texas REALTORS® 360 Real Insights Regions 7 & 13 Annual Meeting 2023 SABOR Board of Directors Application Deadline

A COMPLETE LIST OF COMMITTEE MEETINGS, EDUCATION COURSES, AND OTHER BOARD EVENTS CAN BE FOUND ONLINE AT SABOR.COM.

WELCOME NEW AFFILIATE MEMBERS Abdullah Al Khafaji - Virtuance Alexis Angulo - GreenWorks Inspection & Engineering David Cardenas - Two Brothers Roofing Michael Drust - Fresh Castle Cleaning Service Jay Guidry - GreenWorks Inspection & Engineering Roy D Melvin - Mainline Services, LLC Nick Moomaw - TLC Home Inspections, PLLC Christopher Nowak - Super Inspector Tom Romanello - Legacy Mutual Mortgage Jay Schimpf - Missions Home Inspections Rad Shafto - Super Inspector Robert Taylor - RTx2 Inspections Floramie Welch - Photon Aerial Tech

@SABoardREALTORS

@SanAntonioBoardofREALTORS

@SABoardofREALTORS

company/san-antonio-board-of-realtors

@SABoardREALTORS

@saboardrealtors

The Great SABOR Food Fight

SABOR’s Outreach Committee was thrilled to see the amount of participation in last year’s “Nuts About the Food Bank” Peanut Butter Drive Contest. Thanks to you, we collected over 10,000 jars of peanut butter to deliver to the San Antonio Food Bank. This year from April 1 – May 31, we will be hosting the Great SABOR Food Fight, and we can’t wait to see how many food items we can donate to the Food Bank.

This year, the company tiers will collect different items. Tier 1, companies with 101 or more employees, will be collecting cereal. Tier 2, companies with 26 – 100 employees, will be collecting macaroni and cheese. Tier 3, companies with 1 – 25 employees, will be collecting rice. Items can be collected at your office anytime from April to May and can be delivered to SABOR by May 31 at 4:30 p.m. You can also have donations shipped to the SABOR office (9110 W. IH-10), but make sure all deliveries are marked with your company’s information.

Why should your company participate? You can help support over 58,000 people that the San Antonio Food Bank serves weekly, be a part of helping families that have been impacted by the COVID-19 pandemic, win a really cool trophy, and of course, bragging rights. Will you join in on the Great SABOR Food Fight? Email communications@sabor.com to enter the contest today!

Tax Time – What to know as a REALTOR®

Filing taxes can seem daunting, especially when you own your own business. Michael Guertin, a Certified Public Accountant and founder of Aperto, an accounting firm, helps REALTORS® with tips on how to file their taxes. Recently, Michael joined us for our Get Real Podcast.

If you have been a REALTOR® for a year or thirty years, the below tips from Michael will help you during tax time.

REALTORS® are considered business owners which means that a Schedule C must be filed. For new REALTORS®, this may be your first time to fill one out. To fill out a Schedule C you will need a 1099 from your Broker. It is important to always check the 1099 that you receive, sometimes mistakes happen, and you don’t want to have mistakes when filing your taxes. Make sure to check the amount of money you banked throughout the year with your 1099.

The next item you need is a profit and loss explanation. You are responsible for knowing how much income you made and how much your business expenses were. New this year, your meals that pertain to your business are now 100% deductible. This could include lunch with your clients if you took them out to eat between showings, or the meals you had while working on your business. Tracking these expenses throughout the year will help come tax time. If you received a letter from the IRS this year about a stimulus check you received or about child tax credits, make sure you have those letters on hand when filing your taxes. You can log into the IRS website if you did not receive a letter but believe you should have.

One of the biggest write-offs for REALTORS® is mileage, but it is also the number one audited area. If you haven’t been tracking your mileage through a mileage application it is important to do so, that way you can show how many miles you drove for work throughout the year. New this year on your Schedule C, you must account for all your mileage, not just work mileage. For example, if you drove 20,000 miles in 2021, 15,000 miles for business and 5,000 for commuting, you need to include this on your Schedule C. Keeping mileage logs throughout the year will help you when it comes to filling out your Schedule C. For more information on these tax tips and more, listen to the Get Real Podcast at sabor.com or wherever you listen to podcasts.

Thank You to Our Advertisers Platinum

Gold SWBC IBC Bank

Silver

Home Builders Inspection Group Jefferson Bank Legacy Mutual Mortgage Movement Mortgage

Bronze

NARPM Old Republic Title Real Estate Newsline

American Home Shield Becker Properties Barton Carpets Cher Miculka - Exit Premier Realty

Fidelity National Home Warranty Fresh Coat Painters Frontier Title Jurassic Realty

Netco Title, Inc NextGen Real Estate & Finance Spire Risk Management Walthall, Sachse, and Pipes, Inc.

BOARD OF DIRECTORS Chairman Tracie Hasslocher

Chair-Elect Sara Briseño Gerrish Monique Bordelon Jesse Bugarin Donna Drayton Katie Griffin Ross

Secretary/Treasurer William Curtis Jan Hicinbothom Marty Hutchison Chad Nall Anna Ramos

Members-At-Large Kevin Crawford | Reagan Williamson

Courtney Rosen Scott Small Ronnah Stabenow Mindi Stange

Ed Zapata

Immediate Past Chair Cher Miculka