ELEVATE Magazine - RASM - January 2021 Issue

January 2021

Taking Action with Alex Krumm, 2021 RASM President 6

RASM Remembers Adam Chicoine 11

Selecting a Property Manager 12

To Mediate or Not to Mediate; Should It Even be a Question?

22

In with the new MOVE-IN READY

Bayfront Sarasota The Ritz-Carlton Residences, Sarasota | 941.702.2300 From the $3,500,000s TheResidencesSarasota.com

MOVE-IN READY

Downtown Sarasota Risdon on 5th | 941.365.1414 From the high $300,000s RisdonOn5th.com

MOVE-IN READY

Osprey Bayfront Edgewater at Hidden Bay | 941.966.3600 From the high $500,000s EdgewaterHB.com

SALES GALLERY OPEN

Longboat Key The Residences at the St. Regis | 941.213.3300 From the $2,000,000’s Call for an appointment.

SRResidencesLongboatKey.com

WATERFRONT HOMES & HOMESITES

Bradenton Riverfront Riverside Point | 941.201.8505 Home sites from $229,900 | Homes from the low $600,000s RiversidePointFlorida.com

COMMISSION PAID AT CONTRACT

South Sarasota Sandhill Lake | 941.234.0432 From the high $400,000s SandhillLakeSarasota.com

NOW SELLING NEW PHASE

Northwest Bradenton Palma Sola Bay Club | 941.216.7436 From the high $300,000s PalmaSolaBayClub.com

Sales Galleries Open and available to you and your customers for virtual or in person presentations.

Virtual home tours · OnDemand local experts · Interactive site and floorplans

Contact us at 844.591.4333 or InWithTheNew@michaelsaunders.com MichaelSaunders.com/New-Homes | 100 South Washington Boulevard | Sarasota, Florida January 2021. ©Michael Saunders & Company, Licensed Real Estate Broker

2021

MEMBERSHIP RENEWAL NOVEMBER 2

DECEMBER 15

PAYMENT

INVOICES AVAILABLE IN

DUE

MY RASM

PORTAL

JANUARY 15 FEBRUARY 16 LATE FEE

SUSPENSION DAY

$50 $75

TO REINSTATE

Reach Further™ With Your Membership

DUES BREAKDOWN

RPAC RASM 32%

NAR

15%

FR

24%

29%

Investments in RPAC are voluntary and non-deductible.

The REALTOR® Party works to advance policies and candidates that build strong communities, protect property interests and promote a vibrant business environment. RPAC investments have increased NAR, Florida REALTORS® and RASM’s influence in Washington, Tallahassee and local governments in Sarasota and Manatee.

Member Benefits As your trade association, annual membership fees provide the resources you need to succeed in this dynamic industry.

Education, advocacy, tools, market information, and more— RASM offers it all with YOU, the member, in mind.

MYRASM.COM/RENEW

Contents JANUARY 2021

6

Property Management Council

14

Realtor® Attorney Joint Committee

16 17 22

Government Affairs

25

Market Analysis Commercial Real Estate Alliance Global Business Council

COVER STORY

TAKING ACTION WITH ALEX KRUMM, 2021 RASM PRESIDENT

Alex Krumm can be described as a real estate enthusiast, music lover, and a people-person (in no particular order). His approach to life is simple: do what you love and love what you do. Alex is passionate about real estate and believes in the work of Realtors® to make a difference in people’s lives. His passion and involvement in this industry has shaped him to Take Action as RASM President in 2021. The past year has been an unprecedented one marked with challenges and triumphs, plans altered or canceled, and adjusting to change. Through it all, we press on.

11

Remembering Adam Chicoine We are deeply saddened by the sudden loss of RASM PresidentElect, Adam Chicoine. Adam would have served as 2021 RASM President and we know he would have served with humble enthusiasm.

12

Selecting a Property Manager Your clients have purchased their dream home in Florida but they cannot move in right away or they can only reside in the property part of the year, what do you do next?

Cover photography by Shylarose Photography.

4 | ELEVATE [ JANUARY 2021 ]

12

26

Young Professionals Network

29

Neighborhood Spotlight

30 33

Calendar of Events

34

Professional Development Membership News

22

To Mediate or Not to Mediate?

The standard FAR / BAR Contract requires parties to submit any and all disputes arising out of the contract to mediation, pre-suit; the Florida REALTORS® Commercial Contract does not.

CEO UPDATE

RASM South - 2320 Cattlemen Road Sarasota, Florida 34232 RASM North - (Temporary Location) 417 12th Street West, Suite 106 Bradenton, FL 34205 Phone: 941-952-3400 FAX: 941-952-3401 www.MyRASM.com

STAFF CONTRIBUTORS: Member Services Manager: Jessica Montague Director of Information Technology: Jesse Sunday Professional Development Manager: Denise Ricciotti Government Affairs Director: Maxwell Brandow Communications & Marketing Director: Gina White Magazine Editor: Beth Sunday Production: Coastal Printing, Inc.

2021 ASSOCIATION OFFICERS: President: Alex Krumm, NextHome Excellence President-Elect: Tony Veldkamp, SVN ® Commercial Advisory Group Vice President: Brian Tresidder, Key Solutions Real Estate Group Treasurer: Michael Bruno, Michael Saunders & Company Immediate Past President: David Clapp, RE/MAX Alliance Group Chief Executive Officer: Jeff Arakelian

Looking Back and Ahead By: Jeff Arakelian, RASM CEO

L

et’s all say it…thankfully 2020 is over! Last year was a huge disappointment for all of us. No one could have predicted that we would have to halt our plans and go into lockdown. The Association had to close, classes and meetings were canceled, and we all had to figure out how to work remotely and virtually.

However, we adapted to our new normal and innovated to bring new programming in a new way, such as, virtual classes, our R.E. Focus Live events, and the virtual Soar Conference & Expo.

Thankfully, it’s a new year and although the pandemic persists, there is light at the end of the tunnel with two vaccines approved and deployed.

“Your Association is planning for the best in

2021. We are excited and energized to begin our new year.”

MISSION STATEMENT: We are an innovative and relevant association that elevates the standards of professional excellence, and are critical to our members’ success, while providing value to our community.

SUBSCRIPTIONS: The annual dues of every member of the REALTOR® Association of Sarasota and Manatee, Inc., includes a one-year subscription to ELEVATE Magazine. Editorial ideas and manuscripts are welcome.

Byline articles and columns express the opinions of the writers and do not necessarily reflect the policies or sentiments of the REALTOR® Association of Sarasota and Manatee, Inc. All submitted copy is subject to editing. 2021 Copyright© by the REALTOR® Association of Sarasota and Manatee, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited.

For information on advertising rates, artwork, and deadlines, contact Beth Sunday, Magazine Editor, at 941-952-3417 or email Beth@MyRASM.com.

So, your Association is planning for the best in 2021. We are excited and energized to begin our new year. We will be establishing a new plan to return to in-person classes and events when the COVID-19 metrics indicate it is safe.

The silver lining of the situation is that we have learned new ways to deliver programs and get things done. Our plans include hybrid classes, which we believe will allow us to better serve many of our members who prefer online education. We will also look to take advantage of our weather and look to hold events in-person at outdoor venues.

We plan to expand our use of video to communicate with you about our member programs, products, and services. At the same time, we are also looking to introduce our members to our new video studio, and how they can utilize it to help their business.

2020 surely was a year to forget as we experienced the tragic loss of our 2021 President, Adam Chicoine; may he rest in peace. We are fortunate to have many extraordinarily talented leaders following Adam who have stepped up to lead our Association in 2021 and beyond. That, more than anything, should give us all inspiration for an exciting year ahead. •

myRASM.com | 5

COVER STORY

Taking Action with Alex Krumm, 2021 RASM President

A

lex Krumm can be described as a real estate enthusiast, music lover, and a people-person (in no particular order). His approach to life is simple: do what you love and love what you do. Alex is passionate about real estate and believes in the work of Realtors® to make a difference in people’s lives. His passion and involvement in the industry has shaped him to Take Action as RASM President in 2021.

The past year has been an unprecedented one marked with challenges and triumphs, plans altered or canceled, and adjusting to change. Through it all, we press on. Late last year, we lost a very important member of our RASM family, Adam Chicoine.

Adam was elected to serve as Association President this year, but in light of his sudden passing, Alex Krumm, Owner and Broker of NextHome Excellence, has stepped up to the role. This year has strangely gifted us many valuable lessons on digging in deep, working hard, and rising above, and that is what Alex Krumm is all about.

GET TO KNOW ALEX KRUMM Born in Anchorage, Alaska, Alex and his family road-tripped across the country and ultimately transplanted to Sarasota when he was 10 years old. He is a second-generation Realtor®, inheriting the love of real estate from his mother who was a real estate broker in Alaska and a top producing agent in Sarasota.

Alex began his career shortly before the infamous housing bubble burst and the real estate market lost all momentum.

6 | ELEVATE [ JANUARY 2021 ]

“When I got started, the real estate market was hot. And then almost immediately, the whole world fell apart,” said Alex. “This time period really shaped the texture of my early real estate career. I found myself as a brand-new agent, who was young, who was trying to make my mark, and there was very little business to be had. I had a ‘come to Jesus’ moment with myself where I said, ‘I can’t fail, I have to find a way through.’”

Like many Realtors® during this time, the future looked uncertain. Even seasoned agents made the tough choice to find a new career, but Alex pressed on.

“I just knew that real estate was what I wanted to do with my life, and I couldn’t let anything get in the way. That’s when I got some advice from Dave Clapp, my broker at the time [and 2020 RASM President], and he suggested that I make a website, market myself, and focus on short sales and foreclosures. Don’t fight the market, work with it. That’s what I did, and I worked my tail off,” said Alex. “I sold 72 short sales and foreclosures in a year. I wasn’t trying to make a ton of money; I was just trying to keep my head above water.

But what I learned during that time changed my whole attitude about what it is that Realtors® actually do. When I started, I thought this business was simply a service business. A homeowner would hire me to sell their house, I would sell it and then go home with a paycheck. But I realized that was grossly incorrect - it’s about relationships. In those early days, many of my clients would be losing their homes due to market conditions. I found myself fighting for my customers and helping them find solutions that would provide them with the best long-term financial stability and

hopefully avoid a foreclosure. Real estate is a people business, and their home is directly linked to their wealth and stability. Helping people to achieve that stability is what it’s all about. That’s been my guiding principle ever since.”

GETTING INVOLVED AT RASM As Alex worked on his career, he believed that the key to success was being a true professional. He recognized the need to absorb as much knowledge from professional development classes and industry experts as he could. Being a young Realtor® full of energy and enthusiasm had many benefits, but it also gave some people the impression that he was too young to handle the job.

“My youth was preventing me from getting deals because potential clients didn’t trust me. And my strategy to overcome that was to gain their trust through knowledge. I was young, but I knew what I was doing, and I felt that I could demonstrate that with confidence. Don’t let youth be a deterrent; everyone has to start somewhere.”

And here is now, at the ripe age of 40, serving as one of the youngest Presidents in recent years at the Association. For many leaders, involvement at the Association starts with an ask from another leader. As Alex continued with professional development courses at RASM, Catherine McCaskill, the RASM Education Director at the time, saw potential in his skills and asked him to join the brand-new Leadership Academy (now known as the Leadership Institute).

“I joined the Leadership Academy and I felt like I was a better professional because of it,” said Alex.

“It jump-started my interest in joining committees. I then volunteered for the Professional Development Committee, where I served for five years, and chaired the committee as well. From there, everything else just fell into place. I volunteered and participated, and one opportunity led to the next and the next. I was asked to join the RASM Board of Directors, which truly launched my Association career into full gear.”

Alex’s passion for getting involved led him to found RASM’s Young Professionals Network. “Back in 2014, when Pete Crowley announced that he wanted to start a young professionals network, I volunteered right away. I immediately started working with several of our other leaders including Brian Tresidder, Robert Milligan, and Jacqueline Mazur, all of whom are some of my best friends to this day, and together we started YPN. I quickly developed event-building skills, leadership skills, and networking skills. Our team had instant camaraderie with each other, but there was no magic wand – you just have to start somewhere. We raised thousands of dollars for charity within the first year and we were gaining the attention of both the RASM board and the Realtor® community. I began to see how membership really works and the importance of building a team. I gained wonderful friends and business ideas that directly shaped my career.”

“These are challenging times, but Realtors® are resilient. We have fought through hard times before and come out of the other side stronger than before. We do it better than any other professional group I know,” said Alex.

THEME FOR 2021 – TAKE ACTION: MEMBER ENGAGEMENT The pandemic has forced all of us to socially distance ourselves from one another for health and safety reasons. This has been especially challenging for the real estate profession because Realtors® are people persons: they engage with the public.

Realtors® network with other Realtors®, and business owners, and the public. So, finding a new and safe path to engagement has been a challenge for all of us, but the need to stay connected remains.

“One of our biggest challenges this past year and for the foreseeable future is member engagement,” said Alex. “We can’t lose sight of the importance of engaging with one another, volunteering, and expanding our professional skills. We had quite a blow in 2020 with COVID-19, and no one was prepared for that. It was an obstacle, and we will always be faced with obstacles. But we adapted, we have strong tools that we can utilize such as Zoom, which allow us to stay right where we are and still remain engaged.” [ Continued on page 8 ] myRASM.com | 7

COVER STORY CONTINUED “One day, we will network as we did before, but in order to save that connection, we have to make an effort and take action now. There are safe ways to come into the Association for professional development classes, meetings, and events, and there are safe ways to virtually connect with one another.”

STRATEGIC PLAN The Strategic Plan was first created to provide goals and strategies for RASM in 2020, outlining five strategic priorities: Member Engagement, Public Relations, Professional Development, Advocacy and Professionalism. These same important goals that were established last year will remain the focus for the Association in the new year.

“I’m a huge proponent of the Strategic Plan,” said Alex, “and we will be adhering strongly to these goals, primarily focused on member engagement, and adding more member benefits to help our members become successful and more professional.”

“There is great value in your Realtor® Association membership, and we have more members joining now than ever before. Our industry is booming, even during this challenging time, and RASM is here to meet and

exceed the needs of our members. The Association has excellent resources, training, and tools for our members to further their career and strengthen their professional skills. We have a state-of-the-art video studio that we started utilizing last year and, we have reduced the cost of our professional development classes. There is real value in RASM membership, for every one of our 7,800 plus Realtor® and Business Partner members,” said Alex.

PROFESSIONAL ACCOMPLISHMENTS Alex has been ranked among the top sales agents in Sarasota for over a decade. He runs a sales team of dedicated, talented Realtors® who share his focus on integrity and is an established expert in home valuation, negotiation, and the sales process.

He is a certified instructor and Director for Florida Realtors® (one of the largest state trade associations in the country) and has earned many designations including Graduate: Realtor® Institute (GRI), Seller’s Representative Specialist (SRS), Accredited Buyer’s Representative (ABR), Commitment to Excellence (C2EX), Certified Distressed Property Expert (CDPE), and Certified Luxury Home Marketing Specialist (CLHMS). In 2014 he received the Sarasota Association of Realtors® President’s Award and in 2019 he taught the first Accredited Buyer’s Representative (ABR®) course ever offered outside of a Realtor® Association.

Alex is an avid musician, a father of four, and a cum laude graduate of the Florida State University who shares broker-owner duties with his wife, Stevie.

“Every day is a new day with a new challenge, with a new set of opportunities, and that is what gets me going. I love going to work and making a legitimate difference in people’s lives. I love making a difference in the lives of the Realtors® I coach in my role as the broker, and the Realtors® I have helped in my role at the Association. These are challenging times, but Realtors® are resilient. We have certainly fought through hard times before and come out of the other side stronger than before. We do it better than any other professional group I know,” added Alex. • 8 | ELEVATE [ JANUARY 2021 ]

BUSINESS PARTNER SPOTLIGHT

Barnes Walker By: Kara J. Scott, Esq., Barnes Walker, Goethe, Perron, & Shea, PLLC

B

arnes Walker is pleased to announce that Kara J. Scott has joined its Sarasota office on Ringling Blvd. as a real estate attorney working side by side with our accomplished Partner, John Shea.

Kara has extensive real estate experience in residential and commercial transactions, beginning as a paralegal in 1989 and as an attorney in Rhode Island since 1995, as well as in Florida and Connecticut since 2006. In 2019, she followed her

lifelong dream of moving to Florida, practicing as a real estate attorney for a law firm in Celebration until relocating to Sarasota in August 2020.

Before moving to Florida from Rhode Island, Kara served as the President of the Washington County Bar Association, was a Director and President of her local Chamber of Commerce, volunteered with other nonprofit boards, and served on her town’s zoning board.

Prior to departing New England, Kara was conducting over 450 real estate closings each year as a partner at Kenyon Law Associates and their title company, Priority Title. In addition to her expansive real estate experience, Kara has practiced in the areas of wills, trusts, and estate law together with zoning and land use law.

The best way to reach Kara is directly at (941) 8272272 or the Sarasota office at (941) 556-5999, or email at kscott@barneswalker.com. •

1342 N. Lime Ave., Sarasota, FL 34237 (941) 953-3773 • (941) 713-4348 www.sarasotalockandkey.com Bonded and Insured Safes • Locks • Keys • High-Security Locks • Mul-T-Lock • Medeco Largest Selection of Key Blanks in the Area Chamber Member since 1964 Associated Locksmiths of America Safe & Vault Technicians Association

myRASM.com | 9

PROFESSIONAL STANDARDS

Buyer Agent’s Demand that Listing Agent Reduce Commission By: National Association of REALTORS® Interpretations of the Code of Ethics Case #16-16 (Adopted as Case #21-17 April, 1990.

Transferred to Article 16 November, 1994 as Case #16-11. Renumbered November, 2001.)

R

ealtor® B contacted Realtor® A, the listing broker, and notified her that he was a buyer’s agent and was interested in showing one of her listings to his client, a prospective purchaser.

Realtor® A made an appointment for Realtor® B and his client to view the property. Shortly thereafter, Realtor® B presented Realtor® A with a signed offer to purchase from his client which was contingent on Realtor® A’s willingness to reduce her commission by the amount she had offered through the MLS to subagents and on the seller’s willingness to compensate the buyer for the commission the buyer owed to Realtor® B, his agent. Realtor® A presented the offer to her client, the seller, explaining that she would not agree to reduce the previously agreed commission as specified in their listing contract.

Realtor® A then filed a complaint with the local Board charging Realtor® B with violating Article 16 as interpreted by Standard of Practice 16-16. In her complaint, Realtor® A stated that Realtor® B had interfered in her agency relationship with the seller by encouraging the buyer to condition acceptance of his offer on the renegotiation of Realtor® A’s commission arrangement with her client, the seller.

Realtor® B defended his action arguing that Realtor® A’s refusal to reduce her commission by an amount equal to what she had offered other brokers

10 | ELEVATE [ JANUARY 2021 ]

for subagency services would have placed the seller in the position of having to pay an excessive amount of commission if he had accepted the offer agreeing to contribute to the buyer broker’s compensation.

In addition, Realtor® B felt that it was his duty to his client to get the best price for the property by encouraging the buyer to reduce the costs of sale wherever practical. The Hearing Panel concluded that Realtor® B’s actions to encourage his buyer-client to pressure the seller to try to modify the listing agreement with Realtor® A was an unwarranted interference in their contractual relationship.

The Hearing Panel noted that Article 16, as interpreted by Standard of Practice 16-16, required Realtor® B to determine, prior to presenting an offer to Realtor® A and her seller-client, whether Realtor® A was willing to contribute to Realtor® B’s commission, either directly or by reducing the commission as agreed to in the listing contract and, if so, the terms and amount of such contributions. It was the decision of the Hearing Panel that Realtor® B had violated Article 16. • Published with the consent of the NATIONAL ASSOCIATION OF REALTORS®.

Copyright NATIONAL ASSOCIATION OF REALTORS®-All Rights Reserved.

RASM NEWS

RASM Remembers Adam Chicoine In Loving Memory: Adam R. Chicoine, 2021 RASM President-Elect, July 27, 1956 - November 23, 2020

W

e are deeply saddened by the sudden and tragic loss of RASM President-Elect, Adam Chicoine. Adam would have served as 2021 RASM President and we know he would have served with humble enthusiasm, doing great things for our Association.

Adam was heavily involved with RASM, having served on our Board of Directors and on several committees. He began his career in real estate in 1998 and he was most recently an agent with RE/MAX Alliance Group.

Adam was part of our RASM family for over 22 years and was a kind friend to all. He will be greatly missed by his RASM family and the entire real estate community. Please keep Adam’s family in your thoughts and prayers during this very difficult time. •

“Adam thank you for your selfless dedication to our profession. You have left an enduring impression on all of us.” - Kevin Hyde

“He was never without a smile on his face. No matter what your day was like, just a couple of minutes spent with him would change it around to a positive. Taken way too soon. Adam, you will be missed.” - John Trexler

myRASM.com | 11

RASM NEWS YOU CAN USECOUNCIL PROPERTY MANAGEMENT

Selecting a Property Manager By: Liz Berry, Associate Advisor, SVN | Commercial Advisory Group

Y

our clients have purchased their dream home in Florida but they cannot move in right away or they can only reside in the property part of the year, what do you do next?

Recommend they hire a property manager of course. A property manager wears many hats and will become one of the most important elements of the financial rewards of your client’s investment. First and foremost, help them determine if they want to rent their property or only have it monitored while they are away. If they choose to rent their property, there are various options to the length of time they may choose to have it occupied.

SHORT AND LONG-TERM RENTALS Rental properties in Florida are generally occupied for specific lengths of time: seasonally or annually; short-term or long-term. The most popular time for seasonal rentals is January to March which is when you will garner the highest rates and the slowest time of year is August to October. Annually is exactly as it sounds and involves securing a tenant for a year or longer. Short-term is any time period of six months or less and long-term is any time period over six months plus one day. Check with neighborhood, condominium, and homeowners’ associations; local

municipalities; and state laws to confirm if there are any rental term requirements because, for example, some ordinances do not allow rental terms any shorter than six months. Most clients have a specific time period they like to rent their property based on their desired use.

NEED FOR A PROPERTY MANAGER If your buyer plans to reside in their property seasonally but does not want to rent it, it is still a good idea to recommend hiring a property manager to oversee and care for their property while they are away. Florida can have hurricanes, extreme humidity, and crime, in addition to a variety of other situations, can occur when the owner is gone. There is nothing worse than selling a property to a client only to have them arrive six months later and open the door to their entire house covered in mold; because it sat empty with the air conditioner turned off after the final walk-through that their agent conducted.

Occurrences such as this can be prevented by having their dwelling monitored when they are absent.

PROPERTY MANAGEMENT FIRMS Once your client decides what their property management requirements are, locate at least three companies that have managers that specialize exclusively in their specific needs to refer them to. There are many firms in Sarasota and Manatee handle specific types of property management or an assortment of all of the above. These can be found online, through your brokerage’s in-house operations or RASM. Some factors for your clientele to consider in hiring the right property manager include:

Experience and level of customer service Accounting and financial procedures Knowledge of local area Honesty and trustworthiness Frequency of communication Use of technology Tenant Screening Process Management Costs Hours of Availability •

12 | ELEVATE [ JANUARY 2021 ]

Genoa

Exquisite Residences. Exceptional Incentive.

$10,000 REALT O R B O N S* U THE HOTTEST ENCLAVE IN THE BEST-SELLING LUXURY VILLAGE The Lake Club’s newest enclave, GENOA, now includes four neighborhoods with stunning residences by STOCK. The Genoa collection includes three, four, and five-bedroom residences, with over 20 spacious floor plans from which to choose, ranging in size from 2,400 to over 4,000 square feet under air.

Introduce your clients to Genoa at The Lake Club, the best-selling luxury village in Lakewood Ranch.

The Lake Club offers the ultimate luxury lifestyle, with a 20,000-square-foot Grande Clubhouse, spa & fitness, fabulous dining, lifestyle director and concierge, plus a state-of-the-art Tennis Center with six tennis courts, four pickleball courts, and a pro shop.

From the $700s THE LAKE CLUB INFORMATION CENTER: 8307 Lake Club Blvd., Lakewood Ranch, FL 34202 | (941) 907-9088 | thelakeclublwr.com

*$10,000 Realtor bonus available for a limited time.

FLStockDevelopment

StockDevelopment

REALTOR® ATTORNEY JOINT COMMITTEE

Excelling Despite the Challenges of 2020 By: Erin Hope Christy, Attorney at Law, Shumaker, Loop & Kendrick, LLP

I

t is my honor to be chairing the Realtor® Attorney Joint Committee for 2021, and I feel lucky to do so alongside ViceChair, Darla Furst. A big ‘thank you’ to the 2021 committee members as well as we kick-off another year together focused on member engagement and education:

John Alexander, W.I.T. Realty Bonnie Allen, Berkshire Hathaway David Clapp, RE/MAX Alliance Group Andrew Conaboy, Berlin Patten Ebling Sylvia Golden Norris, RASM Counsel Karla Jones Wilson, Coldwell Banker Lynn Ludecke, Coldwell Banker

Lisa Moore, Lisa Gonzalez Moore, Esq. Mallory Moretti, Berlin Patten Ebling Peter Pike, Pike Law Kara Scott, Barnes Walker Ben Sorrell, Syprett Meshad Pam Taylor, Coldwell Banker Our mission is to provide RASM members with educational opportunities and access to experienced attorneys and real estate professionals throughout the year. We hope to do this by connecting with members on a variety of platforms and engaging in previously successful and new ways. For example, a newly imagined video blog, webinars, and “Ask the Attorney” panels centered on up-to-date issues affecting your business.

I am energized to be working with President Alex Krumm and CEO Jeff Arakelian, bringing their vision for an engaged membership in 2021. Should you have any topics you’d like to see covered, please do not hesitate to contact me at 941.366.6660 or echristy@ shumaker.com •

REALTORS® who LEARN MORE are REALTORS® who EARN MORE

2021 DATES

EARN YOUR GRI 100 SERIES Standards of Practice Jan. 25 & 26, Feb. 8 & 9, Mar. 1 & 2

200 SERIES Essential Real Estate Techniques June 7 & 8, June 21 & 22

300 SERIES

Your clients are more sophisticated than ever, requiring you to perform at a higher level of professionalism. By earning the Graduate, REALTOR® Institute Designation (GRI), you will lead the pack with real-world knowledge about new technologies, laws and marketing techniques that positively affect your bottom line.

Real Estate Specialties July 26 & 27, Aug. 2 & 3

100 SERIES

Standards of Practice Aug. 16 & 17, Aug. 23 & 24, Aug. 30 & 31

14 | ELEVATE [ JANUARY 2021 ]

SAVE

$425 by taking all 7 GRI modules at RASM in 2020!

WWW.MYRASM.COM/GRI

WHERE SARASOTA’S DOWNTOWN MEETS THE BAYFRONT

Artist’s Rendering

NOW SELLING, Bayso will soon rise 18 stories with 149 residences as the area’s most anticipated address. Priced from the $800,000s, Bayso features 11 distinct floorplans ranging from 1,600 sq. ft. to just under 2,500 sq. ft., as well as 7 luxurious Penthouse residences ranging from 2,500 sq. ft. to over 5,000 sq. ft. Each residence will include an expansive, private terrace with glass balcony railings, providing residents an enviable choice of panoramic vistas. Bayso is located within Quay Sarasota and will offer a walkable lifestyle convenient to the city ’s dining, shopping, and entertainment. Schedule an appointment today with your clients to view this spectacular location from the Westin rooftop and learn about these contemporary residences.

SCHEDULE YOUR PRIVATE SALES PREVIEW | 941.220.0828 Bayso.com | 50 Central Ave, Suite 110, Sarasota, FL 34236 ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE SELLER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THIS BROCHURE AND TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A SELLER TO A BUYER OR LESSEE. This project has been filed in the State of Florida and no other state. This is not an offer to sell or solicitation of offers to buy the condominium units in states where such offer or solicitation cannot be made. Prices and availability are subject to change at any time without notice. This is a limited time offer. Developer may withdraw offering at any time. Images and renderings are representation only. Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each office is independently owned and operated. Equal Housing Opportunity.

GOVERNMENT AFFAIRS

Advocacy in the New Year By: Max Brandow, RASM Government Affairs Director

A

s we start another year, your advocacy team at the national, state, and local levels continue to make progress on important policy issues for Realtors® and our industry. While GARD, and the NAR Mid-Year legislative meetings may look different this year, trust that your lobbying teams and federal and state Key Contacts are still meeting with Legislators and advocating on our policy priorities, from affordable housing, the Commercial Lease Tax, and National Flood Insurance, etc. Below is a list of important dates to keep in mind for our state legislative session.

January 11 – 15, 2021: Legislative Committee Weeks January 25 – 29, 2021: Legislative Committee Weeks February 1 – 5, 2021: Legislative Committee Weeks February 8 – 12, 2021: Legislative Committee Weeks February 15 – 19, 2021: Legislative Committee Weeks March 2, 2021: Regular Session Begins April 30, 2021: Regular Session Ends

CFPB FINALIZES REPLACEMENT FOR THE MARKET-WIDE QM RULE The Consumer Financial Protection Bureau (CFPB) issued its finalized replacement to the market-wide Qualified Mortgage (QM) rule.

The Government Sponsored Enterprises Patch (GSE Patch), which gave all loans eligible for GSE financing QM status, was set to expire on January 10, 2021. The CFPB was opposed to extending the patch, arguing that it created an unlevel playing field in favor of the GSEs. However, the GSEs would have reverted to the market-wide QM rule which, has a hard 43% DTI and might exclude nearly 20% of the market from access to mortgage credit.

16 | ELEVATE [ JANUARY 2021 ]

THE CFPB’S SOLUTION WAS TO REPLACE THE MARKET-WIDE RULE BY: Eliminating the DTI limit.

Replacing it with a cap on lenders’ pricing above the average prime offer rate (APOR).

The cap for a mortgage to be a safe harbor, with the best legal defense for lenders, is 150 basis points over APOR. There is a legal rebuttable presumption of compliance up to 225 basis points over APOR. Anything above 225 over APOR is non-QM. In theory, lenders price mortgages based on risk.

Thus, a loan that has a rate of 4.1% is riskier than a loan that is 4%. However, as NAR argued in comment letters; this has not always been the case. Spreads tend to fall during booms as lenders lower pricing to gain market share and rise during busts, they can often reflect problems with the lenders’ business model and not consumers, and they’ve been shown to be higher for certain protected groups. However, the shift away from a rule with a hard 43% limit is critical for maintaining market liquidity.

The CFPB also adopted a “seasoning” element where loans that are held in a portfolio by a lender for 3 or more years gain QM status. The idea is that most losses occur during the initial 3 years after origination, so lenders are incentivized not to write bad loans. This was expanded to allow for 1 sale during the 3-year period so long as the total time the mortgage is held by both lenders is 3 years. Thus, a mortgage banker could originate a mortgage, hold it for 3 months and then sell it to a bank that holds it for 33 months and the loan then gains QM status after the combined 36 months.

The rule will be implemented in Mid-January, and the phase-in period ends on July 1st. NAR will continue to work with the CFPB to shape the rule to help improve access and affordability. •

MARKET ANALYSIS

Another Strong Month of Sarasota and Manatee Home Sales in November 2020 By: Gina White, RASM Communications and Marketing Director

A

s 2020 winds down, home sales in Sarasota and Manatee continue to show yearover-year growth. In November 2020, the housing market reported another rise in closed sales, cash sales, and median prices. According to data compiled by Florida Realtors® and provided by the Realtor® Association of Sarasota and Manatee, the supply of inventory continues to be the ongoing challenge in today’s market.

“As we reflect on 2020, the pandemic has reminded us just how important our homes are. Real estate is essential with a high demand from buyers right now and as Realtors® we are so grateful to be able to continue serving our customers,” said David Clapp, 2020 President of the Realtor® Association of Sarasota and Manatee. “The numbers in November are following the same trends seen throughout the last several months and we expect 2020 to exceed 2019 when the year-end data is released in the new year.”

Closed sales have been rising year-over-year each month since July. Combined for both counties in both markets, closed sales increased by 40.2 percent in November 2020. Single-family closed sales increased by 36.7 percent to 850 sales in Sarasota and by 40.3 percent to 717 sales in Manatee. Condo sales rose in November with a 58.9 percent increase to 332 sales in Manatee and a 34.8 percent increase to 422 sales in Sarasota.

New listings decreased in November, which is typical during the yearly holiday season. The total number of new listings combined for single-family homes and condos decreased by 6.2 percent from the same month last year. Single-family home new listings increased by 4.2 percent in Manatee and decreased by 6.5 percent in Sarasota. Condo new listings decreased by 14.3 percent in Manatee and by 13.2 percent in Sarasota.

“The really challenging issue from November’s data is that our months’ supply of inventory has declined to a new low of only 1.7 months for single-family homes

and around 2.6 months for condos,” added Clapp. “The inventory challenge could continue to put pressure on rising prices and potentially impact affordability in our area.”

The month’s supply of inventory is the estimated number of months it will take to deplete the current inventory. For single-family homes, month’s supply decreased by 51.5 percent to 1.6-months in Manatee and by 50 percent to a 1.8-month supply in Sarasota.

Condo supply decreased by 45.2 percent to a 2.3-month supply in Manatee and by 40.8 percent to 2.9-months in Sarasota.

The combined inventory of active listings in all markets decreased year-over-year by 35.1 percent across the two counties. Condo inventory decreased by 31.5 percent in Sarasota and by 35.4 percent in Manatee. Single-family inventory decreased by 46.2 percent in Manatee and by 46.8 percent in Sarasota.

The low supply coupled with high demand continues to push up median prices each month.

Single-family prices in Manatee County increased by 7.2 percent to $350,500 while Sarasota prices increased by 19 percent to $349,695. Condo prices increased by 10.3 percent to $237,250 in Manatee and by 13.3 percent to $271,999 in Sarasota.

“While pending sales continue to be strong with a total 24.9 percent increase from the same time last year, they are being tempered by the lack of inventory,” added Clapp. “Pending sales are a useful indicator of future closed sales. If we had more inventory, our total sales would be even higher than what they are now, which we do expect to increase after the holidays.”

For single-family homes, pending sales increased by 25.7 percent in Manatee and by 28 percent in Sarasota.

Condo pending sales increased by 22.8 percent in Manatee County and by 19.8 percent in Sarasota.

Cash sales continue to rise, with a strong year-overyear increase in Manatee County. Single-family cash sales in Manatee increased year-over-year by 52 percent and condos in Manatee increased by 77.4 percent. In Sarasota, single-family cash sales increased by 29.6 percent and condos increased by 12.7 percent.

Monthly reports are provided by Florida REALTORS® with data compiled from Stellar MLS. For comprehensive statistics dating back to 2005, visit www.MyRASM.com/statistics. •

myRASM.com | 17

Monthly Market Summary - November 2020 Single Family Homes Sarasota County November 2020

November 2019

Percent Change Year-over-Year

850

622

36.7%

293

226

29.6%

Median Sale Price

$349,695

$293,750

19.0%

Average Sale Price

$541,339

$409,733

32.1%

$460.1 Million

$254.9 Million

80.5%

98.1%

95.9%

2.3%

Median Time to Contract

15 Days

40 Days

-62.5%

Median Time to Sale

63 Days

81 Days

-22.2%

New Pending Sales

854

667

28.0%

New Listings

799

855

-6.5%

Pending Inventory

1,411

929

51.9%

Inventory (Active Listings)

1,361

2,560

-46.8%

Months Supply of Inventory

1.8

3.6

-50.0%

Closed Sales Paid in Cash

Dollar Volume Med. Pct. of Orig. List Price Received

1,200

2016

2017

2018

2019

2020

Closed Sales

1,000 800 600 400 200

Median Sale Price

0 $400K $350K $300K $250K $200K $150K $100K $50K $0K

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

4,000

Inventory

3,500

3,000 2,500

2,000 1,500 1,000 500 0

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

2016

2017

2018

2019

2020

18 | ELEVATE [ JANUARY 2021 ] ”‘†—…‡† „› Ž‘”‹†ƒ Ěş ™‹–Š †ƒ–ƒ ’”‘˜‹†‡† „› ÂŽÂ‘Â”Â‹Â†ÂƒĚľÂ• Â?—Ž–‹’Ž‡ Ž‹•–‹Â?‰ •‡”˜‹…‡•Ǥ –ƒ–‹•–‹…• ˆ‘” ‡ƒ…Š Â?‘Â?–Š …‘Â?’‹Ž‡† ˆ”‘Â? ˆ‡‡†• ‘Â? –Š‡ ͳ͡–Š †ƒ› ‘ˆ –Š‡ ˆ‘ŽŽ‘™‹Â?‰ Â?‘Â?–ŠǤ ƒ–ƒ ”‡Ž‡ƒ•‡† ‘Â? Â—Â‡Â•Â†ÂƒÂ›ÇĄ ‡…‡Â?„‡” Í´Í´ÇĄ ʹͲʹͲǤ ‡š– †ƒ–ƒ ”‡Ž‡ƒ•‡ ‹• Â”Â‹Â†ÂƒÂ›ÇĄ ƒÂ?—ƒ”› Í´Í´ÇĄ ʹͲʹͳǤ

Monthly Market Summary - November 2020 Single Family Homes Manatee County November 2020

November 2019

Percent Change Year-over-Year

717

511

40.3%

190

125

52.0%

Median Sale Price

$350,500

$327,000

7.2%

Average Sale Price

$463,015

$400,381

15.6%

$332.0 Million

$204.6 Million

62.3%

98.4%

96.2%

2.3%

Median Time to Contract

19 Days

43 Days

-55.8%

Median Time to Sale

63 Days

86 Days

-26.7%

New Pending Sales

622

495

25.7%

New Listings

644

618

4.2%

Pending Inventory

1,037

759

36.6%

Inventory (Active Listings)

1,011

1,880

-46.2%

Months Supply of Inventory

1.6

3.3

-51.5%

Closed Sales Paid in Cash

Dollar Volume Med. Pct. of Orig. List Price Received

1,000

2016

2017

2018

2019

2020

Closed Sales

800 600 400 200

Median Sale Price

0 $400K $350K $300K $250K $200K $150K $100K $50K $0K

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

Inventory

3,000 2,500 2,000

1,500 1,000 500 0

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

2016

2017

2018

2019

2020

myRASM.com | 19

”‘†—…‡† „› Ž‘”‹†ƒ Ěş ™‹–Š †ƒ–ƒ ’”‘˜‹†‡† „› ÂŽÂ‘Â”Â‹Â†ÂƒĚľÂ• Â?—Ž–‹’Ž‡ Ž‹•–‹Â?‰ •‡”˜‹…‡•Ǥ –ƒ–‹•–‹…• ˆ‘” ‡ƒ…Š Â?‘Â?–Š …‘Â?’‹Ž‡† ˆ”‘Â? ˆ‡‡†• ‘Â? –Š‡ ͳ͡–Š †ƒ› ‘ˆ –Š‡ ˆ‘ŽŽ‘™‹Â?‰ Â?‘Â?–ŠǤ ƒ–ƒ ”‡Ž‡ƒ•‡† ‘Â? Â—Â‡Â•Â†ÂƒÂ›ÇĄ ‡…‡Â?„‡” Í´Í´ÇĄ ʹͲʹͲǤ ‡š– †ƒ–ƒ ”‡Ž‡ƒ•‡ ‹• Â”Â‹Â†ÂƒÂ›ÇĄ ƒÂ?—ƒ”› Í´Í´ÇĄ ʹͲʹͳǤ

Monthly Market Summary - November 2020 Townhouses and Condos Sarasota County November 2020

November 2019

Percent Change Year-over-Year

422

313

34.8%

204

181

12.7%

Median Sale Price

$271,999

$240,000

13.3%

Average Sale Price

$407,343

$350,677

16.2%

$171.9 Million

$109.8 Million

56.6%

96.2%

95.2%

1.1%

Median Time to Contract

35 Days

35 Days

0.0%

Median Time to Sale

77 Days

81 Days

-4.9%

New Pending Sales

465

388

19.8%

New Listings

454

523

-13.2%

Pending Inventory

819

636

28.8%

Inventory (Active Listings)

1,106

1,615

-31.5%

Months Supply of Inventory

2.9

4.9

-40.8%

Closed Sales Paid in Cash

Dollar Volume Med. Pct. of Orig. List Price Received

600

2016

2017

2018

2019

2020

Closed Sales

500 400 300 200 100 0

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

Median Sale Price

$300K $250K $200K $150K $100K $50K $0K

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

Inventory

2,500 2,000 1,500 1,000 500 0

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

2016

20 | ELEVATE [ JANUARY 2021 ]

2017

2018

2019

2020

”‘†—…‡† „› Ž‘”‹†ƒ Ěş ™‹–Š †ƒ–ƒ ’”‘˜‹†‡† „› ÂŽÂ‘Â”Â‹Â†ÂƒĚľÂ• Â?—Ž–‹’Ž‡ Ž‹•–‹Â?‰ •‡”˜‹…‡•Ǥ –ƒ–‹•–‹…• ˆ‘” ‡ƒ…Š Â?‘Â?–Š …‘Â?’‹Ž‡† ˆ”‘Â? ˆ‡‡†• ‘Â? –Š‡ ͳ͡–Š †ƒ› ‘ˆ –Š‡ ˆ‘ŽŽ‘™‹Â?‰ Â?‘Â?–ŠǤ ƒ–ƒ ”‡Ž‡ƒ•‡† ‘Â? Â—Â‡Â•Â†ÂƒÂ›ÇĄ ‡…‡Â?„‡” Í´Í´ÇĄ ʹͲʹͲǤ ‡š– †ƒ–ƒ ”‡Ž‡ƒ•‡ ‹• Â”Â‹Â†ÂƒÂ›ÇĄ ƒÂ?—ƒ”› Í´Í´ÇĄ ʹͲʹͳǤ

Monthly Market Summary - November 2020 Townhouses and Condos Manatee County November 2020

November 2019

Percent Change Year-over-Year

332

209

58.9%

165

93

77.4%

Median Sale Price

$237,250

$215,040

10.3%

Average Sale Price

$265,013

$251,593

5.3%

$88.0 Million

$52.6 Million

67.3%

96.7%

95.2%

1.6%

Median Time to Contract

34 Days

34 Days

0.0%

Median Time to Sale

81 Days

73 Days

11.0%

New Pending Sales

291

237

22.8%

New Listings

257

300

-14.3%

Pending Inventory

418

298

40.3%

Inventory (Active Listings)

596

923

-35.4%

Months Supply of Inventory

2.3

4.2

-45.2%

Closed Sales Paid in Cash

Dollar Volume Med. Pct. of Orig. List Price Received

350

2016

2017

2018

2019

2020

Closed Sales

300 250 200 150 100 50 0

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

Median Sale Price

$300K $250K $200K $150K $100K $50K $0K

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

Inventory

1,200 1,000 800

600 400 200 0

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

2016

2017

2018

2019

2020

myRASM.com | 21

”‘†—…‡† „› Ž‘”‹†ƒ Ěş ™‹–Š †ƒ–ƒ ’”‘˜‹†‡† „› ÂŽÂ‘Â”Â‹Â†ÂƒĚľÂ• Â?—Ž–‹’Ž‡ Ž‹•–‹Â?‰ •‡”˜‹…‡•Ǥ –ƒ–‹•–‹…• ˆ‘” ‡ƒ…Š Â?‘Â?–Š …‘Â?’‹Ž‡† ˆ”‘Â? ˆ‡‡†• ‘Â? –Š‡ ͳ͡–Š †ƒ› ‘ˆ –Š‡ ˆ‘ŽŽ‘™‹Â?‰ Â?‘Â?–ŠǤ ƒ–ƒ ”‡Ž‡ƒ•‡† ‘Â? Â—Â‡Â•Â†ÂƒÂ›ÇĄ ‡…‡Â?„‡” Í´Í´ÇĄ ʹͲʹͲǤ ‡š– †ƒ–ƒ ”‡Ž‡ƒ•‡ ‹• Â”Â‹Â†ÂƒÂ›ÇĄ ƒÂ?—ƒ”› Í´Í´ÇĄ ʹͲʹͳǤ

COMMERCIAL REAL ESTATE ALLIANCE

To Mediate or Not to Mediate; Should It Even be a Question?

By: Adria Maria Jensen, Esq., Shumaker Loop and Kendrick, LLP

T

he standard FAR / BAR Contract requires parties to submit any and all disputes arising out of the contract to mediation, pre-suit; the Florida REALTORS® Commercial Contract does not. It is rare, in fact, to find such a provision in the commercial context. However, there are some compelling reasons for including it in commercial contracts as a matter of course.

WHAT IS MEDIATION? Mediation is defined as, a means of resolving disputes outside of the judicial system by voluntary participation in negotiations, usually conducted under the guidance of a trained intermediary.

Parties can always choose to mediate prior to litigation, but in the absence of a provision mandating it, neither can force the other to the negotiation table, pre-suit.

At first glance, it would seem more appropriate to make that decision completely voluntary. After all, why should the non-breaching party incur expenses compromising with the breaching party? But a wider view supports that more may be gained from compromise than victory.

As a litigator and a Florida Supreme Court Certified Mediator, I get to examine disputes from both angles.

As a litigator, I analyze my clients’ positions and advocate vigorously with the goal of getting them what they want. As a mediator, I examine each party’s needs and work to bring them to an acceptable resolution.

Having been on both sides, I can tell you that while litigation is sometimes necessary; it is exhausting, expensive, and often ineffective in getting people what they really want.

MEDIATION CONCERNS In mediation, parties are free to fashion a remedy of their choosing; however, it is unlikely that parties who already disagree on the issues will agree to mediate immediately after the disagreement ensues.

Suppose a buyer informs a seller that due to her actions, the buyer requires an extension; assuming the seller disputes the allegation and refuses to extend then both will seek termination and demand the deposit. If neither or only one will agree to mediate, litigation will ensue and settlement options that may have been feasible early on will become untenable as the parties devote significant resources towards winning rather than resolving the matter.

These types of disputes are often ripe for creative compromise but charged with emotion. Thus, a neutral mediator is better positioned to openly discuss the problems affecting the transaction, explore a myriad of settlement possibilities, and thus provide the perspective needed for cooler heads to prevail, than any of the stakeholders involved.

Early mediation may increase the upfront costs of litigation if a settlement is not reached. However, the potential savings far outweigh the potential expense.

The process will provide all involved with valuable insight and a better understanding of the issues before a single paper is ever filed. That alone can significantly mitigate the costs that would otherwise be incurred by obtaining details and documents.

Thus, when considering whether a mediation pre-requisite is advisable, remember the words of the Rolling Stones: you can’t always get what you want; but if you try sometimes, you might find you get what you need. • This article is meant for educational purposes only. It is not intended to serve as legal advise and should not be used as a substitute for consultation with an attorney.

22 | ELEVATE [ JANUARY 2021 ]

RASM NEWS

CREA Recognizes Rico Boeras as 2020 Commercial Realtor® of the Year

T

he Commercial Real Estate Alliance (CREA) of the Realtor® Association of Sarasota and Manatee (RASM) announced Rico Boeras as 2020 Commercial REALTOR® of the Year at the virtual Downtown Horizons panel on December 15. At the event, CREA President Joe C. Hembree also recognized his choice for 2020 President’s Award and introduced the Officers and Directors who will be leading the Alliance in 2021.

The Commercial Realtor® of the Year award is presented to a Realtor® member of the Commercial Real Estate Alliance who epitomizes the Realtor® image and has a proven track record of dedication to their fellow agents and community. Rico Boeras, Sarasota Commercial Realty, was selected by CREA’s nominating committee as 2020 Commercial Realtor® of the Year for his contributions to CREA. Susan Goldstein, Chair of the Nominating Committee, presented the award to Rico. “Each year we present this award to a strong commercial real estate professional for their service to our Alliance; and that person is definitely Rico. In 2017, Rico served as President of CREA and introduced a Sporting Clays Tournament which has raised more than $13,000 for local charities since its inception. Congratulations to Rico and thank you for continuing to serve our Alliance,” said Goldstein.

“I am truly honored to receive the Commercial Realtor® of the Year award for the commercial alliance of the Realtor® Association for Sarasota and Manatee,” said Boeras. “I am very thankful for the award and the acknowledgement from my peers. CREA is an outstanding organization and it is because so many give their time and energy to make it successful.”

2020 CREA PRESIDENT’S AWARD At the virtual event, CREA President Joe C. Hembree recognized William Wilson of Florida First Capitol Finance as the recipient of this year’s President’s Award. “Wilson is receiving this award for his hard work and commitment to excellence throughout 2020 and for the many countless hours that he volunteered to lift others up,” said Hembree.

“His time on the Board has really been defined by the service that he’s provided and generosity of spirit to keep us going in a difficult year.”

In 2021, CREA Officers and Directors will continue to serve the Alliance by working to improve the knowledge and professionalism of members in order to build a better commercial property marketplace in the two-county area.

2021 CREA OFFICERS President: Joe C. Hembree, Hembree & Associates, Inc. President-Elect: Ben Bakker, Michael Saunders & Company Commercial Vice President: Tom Johnson, Lakewood Ranch Commercial Treasurer: William Wilson, Florida First Capitol Finance Secretary: Melissa Harris, Ian Black Real Estate Past President: Susan Goldstein, Michael Saunders & Company Commercial

2021 CREA DIRECTORS Harvey Wasserman, Harvey Wasserman & Company Matt Fenske, SVN Commercial Advisory Group Neil McCurry, Sabal Palm Bank Saralyn Dorrill, Shumaker, Loop & Kendrick Ken Hughes, CNK Realty Amy MacDougall, Ian Black Real Estate For more information about the Commercial Real Estate Alliance visit www.myrasm.com/commercial. •

myRASM.com | 23

RASM NEWS

RASM REALTORS® Charitable Foundation Gives Back to Community, Helps Members in Crisis By: Gina White, RASM Communications and Marketing Director

T

he REALTOR® Association of Sarasota and Manatee (RASM) is pleased to announce the formation of the RASM REALTORS® Charitable Foundation (RRCF). The new Foundation will provide a taxdeductible method for members and others to contribute to the Association’s charitable endeavors in support of the Sarasota and Manatee communities.

The RASM REALTORS® Charitable Foundation consolidates RASM’s longstanding scholarship and community giving programs for greater impact and provides a way for Realtor® members to help other members in financial difficulty.

The Foundation provides funding for individuals and not-for-profit organizations in the Sarasota and Manatee area that enhance the quality of life in the community. This includes but is not limited to:

Scholarships for higher education for members of

RASM, their immediate family, and local students; Charitable organizations related to housing or real estate; Financial support for Association members in crisis.

According to RASM’s CEO and RRCF Executive Director, Jeff Arakelian, “The new Foundation will provide focus for RASM’s longstanding involvement in charitable organizations, including those tackling affordable housing, fighting homelessness and providing emergency shelter in the event of natural disaster.” In recent years, RASM members have hosted fundraisers to support local charities like Habitat for Humanity, Heroes Welcome Home, Harvest House, and the Everyday Blessings Springboard Program.

In addition, the Foundation will allow members to help other members. RASM President David Clapp 24 | ELEVATE [ JANUARY 2021 ]

adds, “We have never had a way to rally our members together to financially help other members who have a special need. They have always had to look to outside organizations for support. The Foundation can assist members through the generosity of RASM members.”

Clapp cites examples such as family financial need resulting from the death of a REALTOR®, an emergency medical procedure or a hurricane. “It’s Realtors® helping Realtors® as well as coming to the aid of the community.”

Anyone can contribute by writing a check to RASM REALTORS® Charitable Foundation and mailing to 2320 Cattlemen Road, Sarasota, FL 34232. To learn more, visit myrasm.com/foundation or contact Jeff Arakelian at foundation@myrasm.com. •

GLOBAL BUSINESS COUNCIL

Understanding the Needs of Your International Clients By: Daniel D. Jittu, Global Business Council Chair and Broker-Owner 27 State Realty LLC

A

s you review your budget for this year, I want you to consider how a $25 investment on your part may pay dividends for your personal business in 2021.

Oprah Winfrey would occasionally promise her audience “You get a car, and you get a car, and you get a car!” Oprah prided herself on her preparation she gave to each guest she interviewed.

INTERNATIONAL CUSTOMERS INVEST As the 2021 Global Business Committee Chairman, I get to say in my Oprah voice, “You get a customer, and you get a customer, and you get a customer!” According to NAR’s 2020’s International Transactions in U.S. Residential Real Estate (www. nar.realtor) publication, international customers are willing to purchase their primary residence for 21.3% more dollars than a typical domestic customer.

International clients have higher probabilities of making an all-cash offer. Here’s a key takeaway to this statement - remember, you are selling your time as well as a real estate investment.

International customers look to earn higher returns outside their own countries and need to find investments quickly. The U.S. provides an easier path to owning property. Some countries will not allow private property ownership for their citizens. What does this mean for you? If you win the trust of an international customer, I believe your customers will introduce you to their friends who have the same needs. You understand the logic, and you wash, rinse and repeat the process.

UNDERSTANDING INTERNATIONAL NEEDS Philosopher Marshall McLuhan, said “The Medium is the Message,” and coined the phrase “Global Village” in the late 1960’s, reflecting the necessity of understanding the needs of the global customer.

I believe your membership in the Global Business Council will be one way to increase and protect your wealth in 2021.

Last year, the Global Business Committee shared a class on Global Risk. Every participant received a book by Condoleezza Rice and Amy B. Zegart entitled Political Risk: How Businesses and Organizations Can Anticipate Global Insecurity. Have you done what you can to protect your future? What’s in your pipeline? •

myRASM.com | 25

YOUNG PROFESSIONALS NETWORK

Wrapping Up a Challenging But Successful Year By: Jamie Black, YPN Chair, Sales Manager, Cross Country Mortgage

W

ow! What a year 2020 was for all of us!

I don’t think any of us thought that come March, our lives would all drastically change. From working from home, to home schooling, wearing masks, social distancing, Zoom meetings, and virtual happy hours, A LOT has changed!

The YPN missed hosting our annual Lip Sync Battle and Bowling Day, as well as our monthly Coffee Talks and Lounge and Learns. However, we tried to host as much as we could virtually, but we all know it is not quite the same.

As the outgoing vice-chair from 2020 and incoming chair for 2021, my goal for the new year is to reengage our YPN members. Both virtually and hopefully in person. We are going to brainstorm lots of ways to safely host both social and educational meetings. So, please stay in touch and we look forward to reconnecting in 2021!

We are so appreciative of our 2021 YPN Committee and we’re looking forward to a great new year ahead!

2021 YPN COMMITTEE Chair, Jamie Black Vice Chair, Nathan Butrum Liza Diaz Santana Ariana Gillooly Vicky Haddow Justin Johnson Benjamin Johnston Margaret Kennedy Brigette Marcus Mallory Moretti Natasha Selvaraj Michelle Thermidor Alexandria Twigg •

INSTALLATION &AWARDS 2021 VIRTUAL

HONORING INCOMING PRESIDENT

Alex Krumm

JANUARY 20, 2021 | 9 AM | FACEBOOK LIVE

26 | ELEVATE [ JANUARY 2021 ]

DISCOVER THE + IN 55+ LIVING AT LAKEWOOD RANCH

Award-winning lifestyle based on Fitness, Nutrition and Relationships New Homes from the $300s | Move-In Ready Homes Available

CresswindLakewoodRanch.com | 888-718-4290 Decorated Models Open Daily | 5063 Simons Court | Lakewood Ranch

FIND FRESH SPACE AT ARTISTRY

Contemporary 2–5 bedroom homes in Sarasota East New Homes from the mid $400s | Move-In Ready Homes Available

ArtistrySarasota.com | 855-551-2803 Decorated Models Open Daily | 8900 Bernini Place | Sarasota

Contact sales office for special opportunities for you and your clients.

Visit our Realtor Portal for free marketing tools and sell more at www.KolterForRealtors.com.

Realtors Warmly Welcomed. Pricing, availability, specifications and amenities are subject to change without notice. CGC1509406

RASM NEWS

Employee Anniversaries

R

ASM happily recognizes the workplace anniversaries of our professional staff.

Gina White, Communications & Marketing Director, celebrates her fifth year with RASM this month.

Together with her team, the Communications Department maintains email marketing, social media, the RASM website, photography, video, graphic design, press releases, a monthly magazine, market statistics, and other projects throughout the year.

In addition to her department responsibilities, she also serves as staff liaison for four committees; Member Engagement, Community Outreach, Scholarship, and the Young Professionals Network (YPN). Gina is active in her community as a member of the Central West Coast Chapter of the Florida Public Relations Association and of the Junior League of Sarasota.

When not at work, Gina and her fiancée, Ryan, enjoy exploring the area with their tree-climbing, fetch-loving dog, Margo. Gina has a lot to look forward to this year with her wedding date planned for May 8, 2021, in the mountains of North Carolina.

Michelle D’Aiuto, Professional Standards Administrator, Executive Services, celebrated her two-year anniversary with RASM in January.

Another year has come and gone, but 2020 has brought obstacles we could have never imagined to our personal and professional lives. “I am grateful to RASM leadership, our members and staff that worked together to create new and innovative ways to keep RASM’s programs up and running along with providing a safe and supportive work environment during this unprecedented time. Zoom meetings have allowed Professional Standards to continue successfully for our members. I am looking forward to the day we can hold in-person events again and seeing everyone face to face,” said Michelle.

Michelle has spent 2020 appreciating her family, friends near and far, and this beautiful place we call home. She has also attempted a few new hobbies including trying to grow plants, cooking complex dinners, and her favorite, the virtual happy hour!

Welcome 2021, “We can change the world and make it a better place. It is in our hands to make a difference,” Nelson Mandela. •

Reach Further by Being a Leader.

Join the 2021 Class. Submit an Interest Indicator to get priority access to applications for the 2021 Leadership Institute at RASM.

myrasm.com/leadership 28 | ELEVATE [ JANUARY 2021 ]

NEIGHBORHOOD SPOTLIGHT

The Preserve at Tara By: Laurie Fox, Realtor®, Coldwell Banker Realty

T

he Preserve at Tara is Bradenton’s best kept secret! This gorgeous active community was named after the novel, “Gone with the Wind,” and it’s streets are named after the characters, locations, and events in the story.

Conveniently located close to I-75 on State Road 70, the Preserve at Tara is close to everything, including the UTC mall with over 80 restaurants. Downtown Sarasota and world class beaches are only 30 minutes away as well.

These homes are nestled around a beautiful semiprivate golf course, featuring over 50 lakes, wetlands, and hammocks. The natural vegetation provides a wonderful home for many birds and wildlife.

The Preserve at Tara Golf Club features a Ted McAnlis signature course that was designed with exceptional care and respect for the natural Florida wetlands. The 18-hole, par-72 championship course

measures 7,000 yards from the back tees and features scenic fairways, 52 lakes, and Champion Dwarf Bermuda grass greens. The Preserve offers a challenging but fair test of golf for players of all skill levels and features 5 sets of tees.

In addition to golf, the Preserve offers many amenities. Tennis, pickleball, a heated community pool, and spa. There is also a community club house that hosts a variety of neighborhood clubs and gatherings. The low HOA fees cover cable and internet The beautiful Preserve at Tara truly has something for everyone. •

myRASM.com | 29

JANUARY 2021

CALENDAR OF EVENTS WEDNESDAY, JANUARY 6 7:30 a.m.

Toastmasters [ Online ]

THURSDAY, JANUARY 7 1:00 p.m.

Core Law (iCE) [ Online ]

9:15 a.m.

9:00 a.m.

CREA Marketplace [ Online ]

9:00 a.m.

Code of Ethics [ Online ]

1:00 p.m.

Core Law [ Online ]

TUESDAY, JANUARY 12 9:30 a.m.

Risk Management [ Online ]

FRIDAY, JANUARY 15 9:00 a.m.

8:00 a.m.

8:00 a.m.

TUESDAY, MARCH 2 8:00 a.m.

MONDAY, MARCH 8

GRI 101 (Day 2) [ RASM South ]

Real Estate Negotiation Expert (RENE) (Day 1) [ Online ]

9:00 a.m.

Introduction to Contracts [ Online ]

9:00 a.m.

Market Like a Rock Star [ Online ]

1:00 p.m.

Get More Done Online [ Online ]

9:00 a.m.

New Member Orientation [ Online ]

1:30 p.m.

8:00 a.m.

TUESDAY, JANUARY 19 8:00 a.m.

CREA: The 3 R’s of Real Estate & the Economy [ Online ]

1:00 p.m.

Introduction to Social Media [ Online ]

WEDNESDAY, JANUARY 20 7:30 a.m.

Toastmasters [ Online ]

9:00 a.m.

Virtual Installation [ Online ]

9:00 a.m.

CREA Marketplace [ Online ]

THURSDAY, FEBRUARY 4 10:00 a.m. Are You Grandfathered In? [ Online ]

MONDAY, FEBRUARY 8 8:00 a.m.

14 HRS CE (Day 1) [ RASM South ]

14 HRS CE (Day 2) [ RASM South ]

EVENT TIMES & LOCATIONS SUBJECT TO CHANGE

Basic Negotiation Skills For Today’s Real Estate Professional [ Online ]

FRIDAY, JANUARY 29

8:00 a.m.

TUESDAY, MARCH 9

WEDNESDAY, JANUARY 27

THURSDAY, JANUARY 28 8:30 a.m.

GRI 103 (Day 2) [ RASM South ]

GRI 101 (Day 1) [ RASM South ]

CREA Marketplace [ Online ]

MONDAY, JANUARY 18

GRI 103 (Day 1) [ RASM South ]

CREA Marketplace [ Online ]

TUESDAY, JANUARY 26 8:00 a.m.

GRI 102 (Day 2) [ RASM South ]

MONDAY, MARCH 1

MONDAY, JANUARY 25 8:00 a.m.

MONDAY, JANUARY 11

Business Partner Meeting [ Online ]

FRIDAY, JANUARY 22 9:00 a.m.

FRIDAY, JANUARY 8

TUESDAY, FEBRUARY 9

THURSDAY, JANUARY 21

During these challenging times, all calendar event times, dates, and locations are subject to change.

We will continue to monitor this situation and the safe return of inperson classes and events.

For the most accurate and up-to-date information, please continue to check the RASM calendar at: myrasm.com/calendar.

Advanced registration is requested.

See the latest event calendar at: myrasm.com/calendar

GRI 102 (Day 1) [ RASM South ]

Back to Basics with BOOST 4 CLASSES PER CYCLE | 2 CYCLES PER YEAR Running Your Business as a Business • Building Your CRM • The Art of Comps • Marketing Yourself & Open Houses

30 | ELEVATE [ JANUARY 2021 ]

UPCOMING CLASSES UPCOMING CLASSES

NEW MEMBER ORIENTATION

Learn more at myrasm.com/calendar to register.

CORE LAW (ICE) Thursday, January 7 1:00 – 4:00 p.m.

[ Online ]

Understanding real estate law is part of every real estate licensee’s business. Today, more than ever, it’s important to know the laws governing the practice of real estate. This class is an iCE class hosted by Florida REALTORS®. Members $10. 3 CE HRS.

Monday, January 18

Monday, January 11 9:00 a.m. - noon

[ Online ]

In this course, everything is covered from why there is a Code, to filing a complaint, and ultimately why agents may or may not get paid. Members $10. 3 CE HRS

[ Online ]

The REALTOR® Focus program is REQUIRED training for all new Realtor® Association Members and must be completed within 90 days of joining RASM. Topics include: Membership Responsibilities; Membership Marks Usage; Fair Housing & Antitrust; MLS Rules & Regulations; Association Services; Mandatory Code of Ethics training. Members Free.

CREA: THE 3 R’S OF REAL ESTATE & THE ECONOMY Tuesday, January 19

CODE OF ETHICS

9:00 a.m. – noon

8:00 - 10:00 a.m.

[ Online ]

The real estate industry never stands still for long. To keep up, we all need to constantly reinvent ourselves and our businesses, recharge our batteries and reignite our commitment to customers and clients. Who better than Dr. Ted C. Jones, Stewart Title’s chief economist, to guide you on that journey? CREA members FREE.

CORE LAW Monday, January 11

1:00 – 4:00 p.m.

[ Online ]

This Core Law course meets the 3-hour core law requirement required by the Florida Real Estate Commission (FREC) and covers chapters 1, 2 and 3 of the “Continuing Education for Florida Real Estate Professionals” book. Members $10. 3 CE HRS.

RISK MANAGEMENT Tuesday, January 12

9:30 a.m. – 12:30 p.m.

[ Online ]

Like all other business transactions, real estate has the potential to be risky business. All Realtors® want to manage risk as adequately as possible, and this course will speak to and help agents avoid the most common risks associated with the ownership of a Brokerage firm and the practice of real estate sale. Members $10. 3 CE HRS.

REAL ESTATE NEGOTIATION EXPERT (RENE) Mon., Jan 18 - Tues., Jan 19 8:30 a.m. - 4:30 p.m.

[ Online ]

The Real Estate Negotiation Expert (RENE) certification is for real estate professionals who want to sharpen their negotiation skills. The RENE certification program gives Realtors® the tips and tools they need to be skillful advocates for their clients. Members $94. 8 CE HRS.

GRI 101 Mon., Jan. 25 - Tues., Jan 26 8:00 a.m. – 5:30 p.m. [ Online ]

The Professional Standards module will guide you through the Code of Ethics, and the expectations & requirements of the Florida Real Estate Commission (FREC). The Law portion will expand on the real estate law learned in the basic sales associate’s Course to help participants identify and understand legal issues that arise. Fair Housing & Diversity laws will also be covered. Members $15. 8 CE HRS.

INTRO TO CONTRACTS Wednesday, January 27

9:00 a.m. – noon

[ Online ]

A real estate contract, by definition, is a legally binding document between parties, that states the terms and conditions of the purchase and sale of real property.

A real estate contract is also known as a real estate purchase and sale agreement, and standardized documents that have been approved by the Florida Association of Realtors and the Florida Bar, are generally used. In this class students will be introduced to the basic elements of a real estate contract. Members Free.

[ Continued on page 32 ]

Designation or Certification Courses [South Office ] 2320 Cattlemen Road, Sarasota, FL 34239

[ Goodwill Manasota ] 2705 51st Ave E, Bradenton, FL 34203

myRASM.com | 31

UPCOMING CLASSES CONTINUED MARKET LIKE A ROCK STAR Wednesday, January 27 9:00 a.m. - noon

MLS COMPLIANCE 101 [ Online ]

Today’s consumer has access to more information & tools & are more mobile than ever before which has changed them in many ways. One of the biggest changes is how consumers are affected by marketing and make their business decisions as they are inundated with marketing messages. So, for a Realtor® to succeed the need to adapt and change their marketing techniques & by making promotions more targeted, personal & visual and leveraging newer platforms including video & social media. Members $15. 3 CE HRS.

1:00 – 2:15 p.m.

[ Online ]

A key purpose of the MLS is to provide real estate brokerages a mechanism to compensate each other for bringing buyers to each other’s listings. In order for this to work, it is critical that we share accurate data, and additionally, enter listings in a way to maintain the cooperative nature of the MLS. This required class for new subscribers reviews the MLS comprehensive Rules & Regulations to ensure that all users have access to the best data possible.

MLS ADDING & EDITING LISTINGS

GET MORE DONE ONLINE Wednesday, January 27 1:00 - 5:00 p.m.

Multiple Dates

Multiple Dates [ Online ]

What is augmented reality, how does it differ from virtual reality and how are they both reshaping the real estate industry. Attend this session with Craig Grant of RETI and show some examples of companies and products that are leading the way in this exciting space. Plus learn how they are will not only change the way you market and sell your listings, but more importantly how it is already changing how consumers shop and consume real estate. Members $15. 4 CE HRS.

2:45 – 3:45 p.m.

[ Online ]

This class is mandatory for agents who will be adding and modifying listings in the MLS. We will walk through the process of gathering listing data, entering listings into the MLS systems, adding photos and attachments, and modifying listings. We will also share valuable tips and techniques in the listing entry process. •

BASIC NEGOTIATION SKILLS FOR TODAY’S REAL ESTATE PROFESSIONAL Tuesday, January 28 1:30 - 4:30 p.m.

[ Online ]

This course examines the art of negotiation and what it can mean for a real estate professional when practiced correctly. It will help Realtors® determine what negotiation is and how they can use it to find a solution.

Members $15. 3 CE HRS.

MLS REQUIRED CLASSES In-person MLS training classes have been canceled at this time. Live webinars are available for required and elective classes. If you prefer to complete your required education by taking a self-paced online class, please visit learn. stellarmls.com.

MLS BASIC Multiple Dates

9:00 a.m. – noon

[ Online ]

This required class teaches every new Stellar MLS subscriber the basics of how to use the Matrix MLS System to power their real estate business. Topics include navigating the system, setting up a property search, direct and auto emails, managing contacts, and personalizing the Matrix system.

32 | ELEVATE [ JANUARY 2021 ]

941-556-8895 Sharonb@CoastalPrint.com

CoastalPrint.com 4391 Independence Court Sarasota, FL 34234

PROFESSIONAL DEVELOPMENT

New Year Resolutions By: Denise Ricciotti, RASM Professional Development Manager

T

here is no better feeling than starting off the new year with your continuing education complete. With both online and in-person classes, RASM makes it easy for you to keep the resolution of getting your CE done ahead of time.

Save yourself stress by getting it done early this year.

DON’T BE CAUGHT BY SURPRISE! As a reminder, after the first post-license renewal, a sales associate must complete 14-hours of continuing education consisting of 3-hours of Florida Core Law, and 3-hours of Ethics and Business Practices, and 8-hours of specialty credit every two years. Your deadline is located on the bottom of your license. Visit www.MyFloridaLicense.com for more info.

REALTORS® NEWLY DESIGNATED & CERTIFIED Accredited Buyer’s Representative (ABR®) Killian, Coldwell Banker Realty Anna Reyes, Better Homes & Gardens Real Estate Atchley Properties At Home With Diversity (AHWD) Jacklyn D. Killian, Equity Real Estate C2EX Shelley Elaine Panas, Century 21 Beggins Enterprises James Anthony Buresch, Coldwell Banker Realty Certified International Property Specialist (CIPS) Deborah McHardy, Coldwell Banker Realty Greg J. Owens, Keller Williams On The Water Melinda G. Sanchez, Florida SunCoast Real Estate Anita E. Lambert, Premier Sothebys Intl Realty Caldwell Allen Smith, RE/MAX Alliance Group

Graduate, REALTOR® Institute (GRI) Ana Varone, Michael Saunders & Company Thomas Arthur, Michael Saunders & Company Sandra Dietrich, Michael Saunders & Company Military Relocation Professional (MRP) B.J. Ratigan, Michael Saunders & Company Stormy Robin Sharp, Medway Realty Resort & Second Home Property Specialist (RSPS) James Joseph Brock, Keller Williams On The Water Alfred A. DiPierro, Global Network Realty & Assoc.

Paddy McKee, Limbo Company Sarasota Assoc.

Short Sale & Foreclosure Resource (SFR®) James Joseph Brock, Keller Williams On The Water Frank Frederick PA, Coldwell Banker Realty Kelly Hood, KW Suncoast Puntaree Steele, Coldwell Banker Realty Elena Stefanoski, KW Suncoast Elvida Masson, MVP Realty Associates LLC Deborah McHardy, Coldwell Banker Realty Deborah J. Shoup, Bright Realty Seniors Real Estate Specialist® (SRES®) Pamela Ann Johnston, Coldwell Banker Realty •

myRASM.com | 33

MEMBERSHIP NEWS

RASM Welcomes New Members By: Jessica Montague, Member Services Manager

NEW DESIGNATED REALTORS®

Wendy Ann Albrecht, Navigation 4 Realty LLC Rami Alkuni, Kenmar Real Estate Brokerage Services LLC John Brink, SRQ Premier Realty LLC Scott Nold, Keller Williams Realty Select Jeff D. Richardson, Wyman and Sons Realtors® Irma Scherer, Coldwell Banker Realty Amanda J. Zachman, MV Realty PBC LLC

NEW REALTORS®

Cheryl A. Adams, Andre LeClair Properties LLC Stacey Christal Ann Archie, Keller Williams On The Water Nicole Lynn Backus, Coldwell Banker Realty Heather Ballew, Exit King Realty Denise M. Becker, Orca Homes, LLC Josie L. Boyter, Capital Real Estate Enterprise Alice Cahill, Coldwell Banker Realty Elizabeth Camilo Grafals, La Rosa Realty Central Florida Cristin Marie Carter, BeachSalesMobi LLC Andrea Keller Castro, Williams Realty Select Igor Chernysh, Bright Realty James Clausen, Century 21 Beggins Enterprises Loretta Colwell, Alliance Group Limited Christopher Wall Corby, Weichert Realtors® Hallmark Pro Cassandra L. Craig, Forbes Property Group Sharon Cuevas, EXP Realty LLC Stephen A. Dart, Coldwell Banker Realty Herve David, Wagner Realty Susan A. Davidson, Keller Williams Classic Group Caitlin Joy Dennis, Coldwell Banker Realty Darrin Joseph Desmarais, Michael Saunders & Company Wendy Dowling, Ocean Insiders LLC Jade Ann Marie Eller, Preferred Shore Johnny Christopher Patrick Fluitt, Key Solutions Real Estate Group Stuart Glenn Francis, EXP Realty LLC Jariane Diore Friedman, Keller Williams Realty Select Nicholas Alexander Gard, Coldwell Banker Realty Larry Gardner, RE/MAX Alliance Group

34 | ELEVATE [ JANUARY 2021 ]

Marcela R. Gifford, Premiere Plus Realty Co Melissa Kirkpatrick Gissinger, Michael Saunders & Co. Roberto Gongora, Paradisus Realty Group CO Tanya Goodin, Properties SRQ LLC Cynthia Zelda Griffin, Premier Sothebys Intl Realty Benjamin Brooks Gustafson, Exit King Realty Justin M. Haggerty, Premier Sothebys Intl Realty Gyorgyi Hangyasi, 1st Premier Intl Properties Michael Herd, Coldwell Banker Realty Robin Diane Heywood, RoseBay International, Inc Tamora Horner, Impulse Realty International Lizelle Elizabeth Jacobs Vosser, Fine Properties Courtney Kaye Jeffries, Keller Williams Realty Select Jonathan Michael Joyner, Preferred Shore Jillian H. Kawecki, Michael Saunders & Company Nathaniel Gene Kirby, EXP Realty LLC Rita Koike, Coldwell Banker Realty Nicole A. Logsdon, Key Solutions Real Estate Grp Daniel David Mackinnon, Keller Williams On The Water Casey Heath Malone, Medway Realty Stacey Maloney, Keller Williams On The Water Andrea Maxim, Keller Williams Realty Select Michael John McBride, Coldwell Banker Realty Jared McLaughlin, EXP Realty LLC Richard Eric Mehalko, Trend Realty Renee Miller, Harry Robbins Assoc Inc Thomas A. Miller, Suncoast Realty Solutions, LLC Tonya Miller-Turczyn, Mapp Realty & Investment Co Heather Mista, Realty Hub Gayla Montegna, Exit King Realty Emily Moore, Exit King Realty Kristi L. Nink, Signature Realty Associates Ruleidy Denise Ortega, Weichert Realtors® Hallmark Pro Natalie Pankonin, Coldwell Banker Realty Mary Kay Panos, Coldwell Banker Realty David Allen Parker, RoseBay International, Inc Trista Richards, Keller Williams On The Water Carmel Ann Riggs, Keller Williams On The Water Jennifer Russo, Coldwell Banker Realty Kenneth Wayne Sandlin, Wagner Realty Marissa Catherine Shinners, KW Suncoast Jennifer Lynn Sidenstricker, Taylor Morrison Rlty of Fla

MEMBERSHIP NEWS Frank Dennis Silva, Robert Slack LLC Brett A. Smith, The Ray Williams Group LLC Logan A Smith, Dinan Realty Group LLC Michael Wayne Smith, Exit King Realty Kip Southland, Wagner Realty Matthew James Squilla, Keller Williams Classic Group Donna Marie Stults, Exit King Realty Christopher A. Sullivan, Harry Robbins Assoc Inc. Krzysztof Jan Sychowski, Keller Williams Classic Group Jason Gregory Taulbee, Fine Properties Christopher Shane Theisen, EXP Realty LLC Taylor Thompson, Michael Saunders & Company Christopher Tominelli, Realty One Group Skyline Tiffany Steffes Twigg, Bright Realty Donald Lawrence Uffinger, Medway Realty Meredith Van Vaals, Coldwell Banker Realty Alexandrea Walters, Mangrove Bay Realty LLC Miriam Liebe White, Coldwell Banker Realty Kathryn J. Wooten, Coldwell Banker Realty Jessica Wren, Florida SunCoast Real Estate

NEW BUSINESS PARTNERS IDEAL HOME INSPECTION LLC 2242 Shadow Lakes Drive Sarasota, Florida 34240 Representative: Marco Garcia Email: Idealhomeinspectionllc@gmail.com Call Ideal Home Inspection, LLC, for your home inspection needs.

SECURITY ALARM CORPORATION 4301 32nd St W B-18 Bradenton, Florida 34205 Representative: Ron Bognar Email: dlawrence@securityalarmcorp.com Experience 5 Star Service with Gold Star Home InspectorsSecurity Alarm Corporation has been the first-choice local provider of residential and commercial security and fire alarm services. We also service and monitor most existing systems offered by our competitors. Security Alarm Corporation has operated in Port Charlotte since 1979 and we have provided local monitoring services with our UL listed and CSAA Five Diamond certified monitoring station since 1988.

OWN YOUR PRESENT. EMPOWER YOUR FUTURE.

COMMITMENT TO E XC E L L E N C E

C2EX.realtor

You can lead the way. Commitment to Excellence empowers you to enhance and showcase your high level of professionalism. It gives you an advantage in an increasingly competitive market and shows consumers you’re committed to conducting business at the highest standard. Be committed to excellence.

Get started today at C2EX.realtor.

myRASM.com | 35

Reach Further™ and go beyond.

Ground control to REALTOR® Rose.

Take your real estate career into orbit with RASM. Education + Networking + Advocacy Professionalism + Resources

RASM Members Now With Lawrence Stuart Achtman, Orca Homes, LLC Wendy Ann Albrecht, Navigation 4 Realty LLC Erika R. Baum, EXP Realty LLC Karrie Lynn Beckmann, Keller Williams Island Life Re John Brink, SRQ Premier Realty LLC William Bradford Bryant, Keller Williams Realty Select Michelle Burke-Phillips, Ocean Real Estate LLC Jennifer Carver, Berkshire Hathaway HomeServices Florida Realty Julia Clark, Couture Real Estate LLC Grant Spotswood Cole, Salty Mermaid Real Estate LLC Timothy Patrick Corcoran, Keller Williams On The Water Renee’ E Dettmann, Bark & Company Realty, Inc. Diaz Gonzalez, Angela Maria - Keller Williams Island Life Re Ivelisse M. Diaz, Keller Williams Island Life Re Erin M. Doran-Reid, Keller Williams Island Life Re Amy Bressler Drake, Ocean Real Estate LLC Lisa Garcia, SRQ Premier Realty LLC Jaime Garza, Edelen Company Inc. Connie M. Gortney, Florida Property Brokers Realty Irina Yevgenivna Grissom, Preferred Shore Robert Charles Hannaford, EXP Realty LLC Tina Marie Hannaford, EXP Realty LLC Michelle Hearon, Coldwell Banker Realty Regina Faye Iovine, Good Life Realty LLC Christopher Daniel Kawcak, EXP Realty LLC Ilanit Klang-Geffre, Keller Williams Classic Group James Krummel, Jay Alan Real Estate John Kushner, Dalton Wade Inc Debora McGraw Lamanna, Better Homes & Gardens Real Estate Atchley Properties Kristin Lavenduski, EXP Realty LLC Tom Leibold, Coldwell Banker Realty Sandra F. Mazzarantani, Keller Williams On The Water Dawn M. McClure, Coldwell Banker Realty Linda May McCollum, Transition Realty LLC Megan McIntosh, Orca Homes, LLC Karen Claire McKenna, Keller Williams Island Life Re Ann M. Meggs, Keller Williams Realty Select Barbara Ann Montgomery LLC, EXP Realty LLC Weina Nickamin, Exit King Realty Alahna Nicolas, Living Vogue LLC Warren Nightingale, Coldwell Banker Realty Silvia A. Nolla, Medway Realty Michael Anthony Panichelli, Fine Properties Robert D. Paul, EXP Realty LLC Savannah Jahmyra Petersen, Keller Williams On The Water

Linh Pham, Sunset Realty Charles Popovic, List N Sell Realty LLC Caroline Remillard, Edgerton Realty & Development Anna Reyes, Better Homes & Gardens Real Estate Atchley Properties Ariel Sarmiento, LLC, Coldwell Banker Realty Jason Schwager, Preferred Shore Monte J. Smith, Keller Williams On The Water Richard Somphathai Souksengphet, EXP Realty LLC Donna Marie Stults, Exit King Realty Walter I. Sugamura, Horizon Realty International Donna Esther Turnbaugh,Wagner Realty Michael A. Vaughn, Preferred Shore Kimberly Weiler, Better Homes & Gardens Realty Estate Atchley Properties Harriet Dee Zambito, Fran Maxon Real Estate •

myRASM.com | 37

MORE SOLD.

PRSRT STD U.S. POSTAGE PAID MANASOTA, FL PERMIT NO. 451

More Inventory. More Listings.

Get More Sales with RASM’s FREE Campaign Assets

FREE Advertising Banners

You may have clients sitting on the fence whether to keep their home or sell. The “Time to SELL” campaign is our solution to today’s low inventory. Get customizable advertising graphics to use on your website, social media, emails and listing presentations.

MYRASM.COM/CAMPAIGNMATERIALS

SELL SELL Reach Further.

TM

REALTOR® Association of Sarasota and Manatee, Inc. 2320 Cattlemen Road Sarasota, FL 34232

The Time is RIGHT to

PHONE: (941) 952-3400 FAX: (941) 952-3401

www.MyRASM.com

EXPANDED REPORTS Sarasota and Manatee Counties

November 2020 Reach Further With The Market.

For more detailed reports, visit myrasm.com/statistics myRASM.com | 39

Monthly Distressed Market - November 2020 Single Family Homes Sarasota County

Closed Sales

November 2020

November 2019

Percent Change Year-over-Year

841

602

39.7%

$350,000

$299,498

16.9%

8

15

-46.7%

$285,350

$190,900

49.5%

1

5

-80.0%

$50,000

$151,000

-66.9%

Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2016

2017

Traditional

2018

Foreclosure/REO

2019

2020

Short Sale

100% 98%

Closed Sales

96%

94% 92% 90% 88% 86% 84% 82%

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

$500K $450K

Median Sale Price

$400K $350K $300K $250K $200K $150K $100K $50K $0K

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

2016

2017

2018

2019

2020

40 | ELEVATE [ JANUARY 2021 ] ”‘†—…‡† „› Ž‘”‹†ƒ Ěş ™‹–Š †ƒ–ƒ ’”‘˜‹†‡† „› ÂŽÂ‘Â”Â‹Â†ÂƒĚľÂ• Â?—Ž–‹’Ž‡ Ž‹•–‹Â?‰ •‡”˜‹…‡•Ǥ –ƒ–‹•–‹…• ˆ‘” ‡ƒ…Š Â?‘Â?–Š …‘Â?’‹Ž‡† ˆ”‘Â? ˆ‡‡†• ‘Â? –Š‡ ͳ͡–Š †ƒ› ‘ˆ –Š‡ ˆ‘ŽŽ‘™‹Â?‰ Â?‘Â?–ŠǤ ƒ–ƒ ”‡Ž‡ƒ•‡† ‘Â? Â—Â‡Â•Â†ÂƒÂ›ÇĄ ‡…‡Â?„‡” Í´Í´ÇĄ ʹͲʹͲǤ ‡š– †ƒ–ƒ ”‡Ž‡ƒ•‡ ‹• Â”Â‹Â†ÂƒÂ›ÇĄ ƒÂ?—ƒ”› Í´Í´ÇĄ ʹͲʹͳǤ

Monthly Distressed Market - November 2020 Single Family Homes Manatee County

Closed Sales

November 2020

November 2019

Percent Change Year-over-Year

713

499

42.9%

$350,500

$329,900

6.2%

4

7

-42.9%

$336,850

$246,000

36.9%

0

5

-100.0%

(No Sales)

$239,000

N/A

Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2016

2017

Traditional

2018

Foreclosure/REO

2019

2020

Short Sale

100%

98%

Closed Sales

96% 94% 92% 90% 88% 86% 84% 82% 80%

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

$700K

Median Sale Price

$600K $500K $400K $300K $200K $100K $0K

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

2016

2017

2018

2019

2020

myRASM.com | ”‘†—…‡† „› Ž‘”‹†ƒ Ěş ™‹–Š †ƒ–ƒ ’”‘˜‹†‡† „› ÂŽÂ‘Â”Â‹Â†ÂƒĚľÂ• Â?—Ž–‹’Ž‡ Ž‹•–‹Â?‰ •‡”˜‹…‡•Ǥ –ƒ–‹•–‹…• ˆ‘” ‡ƒ…Š Â?‘Â?–Š …‘Â?’‹Ž‡† ˆ”‘Â? ˆ‡‡†• ‘Â? –Š‡ ͳ͡–Š †ƒ› ‘ˆ –Š‡ ˆ‘ŽŽ‘™‹Â?‰ Â?‘Â?–ŠǤ ƒ–ƒ ”‡Ž‡ƒ•‡† ‘Â? Â—Â‡Â•Â†ÂƒÂ›ÇĄ ‡…‡Â?„‡” Í´Í´ÇĄ ʹͲʹͲǤ ‡š– †ƒ–ƒ ”‡Ž‡ƒ•‡ ‹• Â”Â‹Â†ÂƒÂ›ÇĄ ƒÂ?—ƒ”› Í´Í´ÇĄ ʹͲʹͳǤ

41

Monthly Distressed Market - November 2020 Townhouses and Condos Sarasota County

Closed Sales

November 2020

November 2019

Percent Change Year-over-Year

418

307

36.2%

$271,999

$240,001

13.3%

4

6

-33.3%

$224,950

$185,000

21.6%

0

0

N/A

(No Sales)

(No Sales)

N/A

Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2016

2017

Traditional

2018

Foreclosure/REO

2019

2020

Short Sale

100%

99%

Closed Sales

98% 97% 96% 95% 94% 93% 92% 91% 90%

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

$1200K

Median Sale Price

$1000K

$800K

$600K

$400K

$200K

$0K

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

2016

42 | ELEVATE [ JANUARY 2021 ]

2017

2018

2019

2020

”‘†—…‡† „› Ž‘”‹†ƒ Ěş ™‹–Š †ƒ–ƒ ’”‘˜‹†‡† „› ÂŽÂ‘Â”Â‹Â†ÂƒĚľÂ• Â?—Ž–‹’Ž‡ Ž‹•–‹Â?‰ •‡”˜‹…‡•Ǥ –ƒ–‹•–‹…• ˆ‘” ‡ƒ…Š Â?‘Â?–Š …‘Â?’‹Ž‡† ˆ”‘Â? ˆ‡‡†• ‘Â? –Š‡ ͳ͡–Š †ƒ› ‘ˆ –Š‡ ˆ‘ŽŽ‘™‹Â?‰ Â?‘Â?–ŠǤ ƒ–ƒ ”‡Ž‡ƒ•‡† ‘Â? Â—Â‡Â•Â†ÂƒÂ›ÇĄ ‡…‡Â?„‡” Í´Í´ÇĄ ʹͲʹͲǤ ‡š– †ƒ–ƒ ”‡Ž‡ƒ•‡ ‹• Â”Â‹Â†ÂƒÂ›ÇĄ ƒÂ?—ƒ”› Í´Í´ÇĄ ʹͲʹͳǤ

Monthly Distressed Market - November 2020 Townhouses and Condos Manatee County

Closed Sales

November 2020

November 2019

Percent Change Year-over-Year

332

209

58.9%

$237,250

$215,040

10.3%

0

0

N/A

(No Sales)

(No Sales)

N/A

0

0

N/A

(No Sales)

(No Sales)

N/A

Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2016

2017

Traditional

2018

Foreclosure/REO

2019

2020

Short Sale

100%

98%

Closed Sales

96% 94% 92% 90%

88% 86% 84%

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

$1000K $900K

Median Sale Price

$800K $700K $600K $500K $400K $300K $200K $100K $0K

J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON

2016

2017

2018

2019

2020

myRASM.com | 43

”‘†—…‡† „› Ž‘”‹†ƒ Ěş ™‹–Š †ƒ–ƒ ’”‘˜‹†‡† „› ÂŽÂ‘Â”Â‹Â†ÂƒĚľÂ• Â?—Ž–‹’Ž‡ Ž‹•–‹Â?‰ •‡”˜‹…‡•Ǥ –ƒ–‹•–‹…• ˆ‘” ‡ƒ…Š Â?‘Â?–Š …‘Â?’‹Ž‡† ˆ”‘Â? ˆ‡‡†• ‘Â? –Š‡ ͳ͡–Š †ƒ› ‘ˆ –Š‡ ˆ‘ŽŽ‘™‹Â?‰ Â?‘Â?–ŠǤ ƒ–ƒ ”‡Ž‡ƒ•‡† ‘Â? Â—Â‡Â•Â†ÂƒÂ›ÇĄ ‡…‡Â?„‡” Í´Í´ÇĄ ʹͲʹͲǤ ‡š– †ƒ–ƒ ”‡Ž‡ƒ•‡ ‹• Â”Â‹Â†ÂƒÂ›ÇĄ ƒÂ?—ƒ”› Í´Í´ÇĄ ʹͲʹͳǤ