ELEVATE Magazine - RASM - May 2022 Issue

May 2022

A Look Inside the Hot Commercial Real Estate Market 6

Short Term Rentals for Your Buyers 12

Best Practices for Closing on a Florida Property 14

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myRASM.com | 3

Contents MAY 2022

12

Property Management Council

14

Realtor® Attorney Joint Committee

16 17 25

6

27

Global Business Neighborhood Spotlight

COVER STORY

Much like the fast-paced, booming residential housing market, the commercial real estate market in the Sarasota and Bradenton area is hot, hot, hot. It’s often said that when residential real estate is intense, the commercial market will closely follow, and that certainly rings true in this case. And with demand for residential real estate in our area now at a historically high level, it only makes sense that commercial real estate would be equally as hot. Due to many factors, including the daily influx of new residents and businesses moving to Florida, the need for commercial growth is significant. More residents require the need for more job opportunities, office space, restaurants, retail stores, gas stations, and more overall growth. But as with its residential cousin, commercial real estate faces the same inventory and supply chain challenges.

12

Are you working with investors or second home buyers who are thinking about purchasing a property to rent on a short-term basis? There are many buyers in the market, and this is a specialized area of real estate that should be handled with care.

4 | ELEVATE [ MAY 2022 ]

Market Analysis Council

29

14

Best Practices for Closing

With the real estate market in the Sarasota-Manatee area continuing to break records, the amount of closings I handle seems to increase monthly. Here are some best practices for smooth closings.

Professional Development

A Look Inside the Hot Commercial Real Estate Market

Short Term Rentals

Government Affairs

30 34

Calendar of Events Membership News

25

Become Active in the GBC

RASM members who are active in the GBC are more educated and aware of the current global market.

They are able to take advantage of many opportunities within our local market, as well as referrals in other parts of the world.

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

Commercial Real Estate Opportunities for All Members By: Jeff Arakelian, RASM CEO

O

STAFF CONTRIBUTORS:

ur Association’s Commercial Real Estate Alliance (CREA) is one of the strongest organizations in our area, serving our more than 200 commercial practitioners. CREA provides educational and networking meetings, commercial real estate education, outstanding events for networking, and a break from the daily grind for some fun with colleagues.

Vice President of Communications & Engagement: Gina McCarthy Vice President of Operations & IT: Jesse Sunday Vice President of Advocacy & Member Programs: Maxwell Brandow Professional Development Manager: Denise Ricciotti Member Services Manager: Jessica Montague Magazine Editor: Beth Sunday Production: Coastal Printing, Inc.

2022 ASSOCIATION OFFICERS: President: Tony Veldkamp, SVN ® Commercial Advisory Group President-Elect: Brian Tresidder, William Raveis Real Estate Vice President: Tony Barrett, Barrett Realty, Inc Treasurer: Debi Reynolds, Florida Suncoast Real Estate Immediate Past President: Alex Krumm, NextHome Excellence Chief Executive Officer: Jeff Arakelian

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 welcomed.

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. 2022 Copyright© by the REALTOR® Association of Sarasota and Manatee, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited.

“CREA provides educational and networking meetings, commercial real estate education, outstanding events for networking, and a break from the daily grind for some fun with colleagues.”

The most unique opportunity CREA provides is their Friday Marketplace meeting where members can share the wants and needs of clients and customers. There are countless stories of members at the CREA Marketplace Meeting helping their fellow Realtor® find a buyer or a property and make a deal! That is cooperation amongst commercial practitioners that is rarely seen, but happens every Friday morning in the CREA Marketplace at RASM. The Association at all levels contributes to offering a broad array of services and resources to help you provide the best service to your clients, and to be the best in your field. Educational opportunities are provided for commercial members, from monthly informational meetings to professional designations, such as CCIM. In the advocacy area we have seen successful efforts to lower the business rent tax and preserve the 1031 tax deferred exchange.

Many members use MFCRE property data to market their listings and search for property that meets their client’s needs. NAR, FR, and RASM all work together to help you to be more professional, productive, and profitable. •

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

Cover photo: PIX360.com myRASM.com | 5

COVER STORY

A Look Inside the Hot Commercial Real Estate Market

M

uch like the fast-paced, booming residential housing market, the commercial real estate market in the Sarasota and Bradenton area is hot, hot, hot. It’s often said that when residential real estate is intense, the commercial market will closely follow, and that certainly rings true in this case. And with demand for residential real estate in our area now at a historically high level, it only makes sense that commercial real estate would be equally as hot.

Due to many factors, including the daily influx of new residents and businesses moving to Florida, the need for commercial growth is significant. More residents require the need for more job opportunities, office space, restaurants, retail stores, gas stations, and overall growth. But as with its residential cousin, commercial real estate faces the same inventory and supply chain challenges.

The commercial market is much broader than its residential counterpart as it consists of four main categories: office, industrial, retail, and multi-family.

Commercial real estate activity can be further analyzed by looking at leasing, rental, new construction, and sales figures. To get a basic feel for the industry, we’ll take a brief look at the condition of the current commercial market.

OFFICE According to data from the CoStar Group, the Global Leader in Commercial Real Estate Information and analytics, office space demand has been strong throughout 2021 and into 2022, bringing vacancy

levels to new lows (4.5%). After hitting a three-year high in late 2020, total availability has been declining.

Leasing activity has been improving since late 2020, and volume hit a 14-quarter high in 21Q2. Office rents maintained high levels throughout the pandemic, unlike many markets nationally. In fact, growth has held steady for more than a year, with some of the strongest office rent growth in the country. Sales volume similarly accelerated in 2021, reaching a new quarterly record in 21Q2. Annual volume is at record levels near $300 million, about 80% higher than the market’s 10-year average. This is a very welcome surprise, as much of our industry actually expected a decline in leasing with the effects of the pandemic due to changing office staffing dynamics. 1

INDUSTRIAL Industrial demand has also surged in our communities beginning in 2020, bringing vacancies to record lows of 1.1 percent. Record-low vacancies have allowed for increased rent growth. Annual gains jumped over 7% for the first time on record in 21Q3 and are now over 9%. This represents a more than 4.5 percentage point increase in growth in just over a year. Industrial investment activity has also escalated since mid-2020. Annual volume exceeded $200 million for the first time in 21Q2 and has only fallen slightly in the months. Leasing activity has increased but has been lower than the five-year average in nine of the past 10 quarters due to inventory shortages. 1

6 | ELEVATE [ MAY 2022 ] Inset photo: Sarasota Drone Guy, at www.sarasotadroneguy.com

RETAIL Over the past five years, our community has enjoyed strong retail demand stemming from one of the nation’s highest population and job growth rates.

Retail demand also receives significant tailwinds from tourism. Rent growth has strengthened in 2021 and has outperformed the National Index for more than a year, with a vacancy rate now at 4.4 percent. While retail rent growth dropped off across the nation in the early months of the pandemic, it held steady in Sarasota throughout 2020 before jumping about 1.5 percentage points in 2021. Retail rent growth has strengthened in 2021 and has outperformed the National Index for more than a year. Investment activity has drastically increased since 20Q4, and annual sales volume recently reached record levels. 1

MULTI-FAMILY No surprises here; multi-family demand has exploded in Sarasota over the 18 months, including the two highest quarterly absorption totals on record in the first half of 2021. The rapidly tightening market conditions and tight housing sector have fueled enormous rent growth. Annual rent growth rates shattered prior record highs in 2021, exceeding 20% year-over-year in 21Q2 and surpassing 30% in 21Q3, with vacancy rates at 4.2 percent. The entire region is experiencing record rent growth. All data obtained from the CoStar Group was pulled in March of 2022. 1

President of Michael Saunders & Company. “With all the new homes planned and under construction, it is no surprise that we are experiencing a corresponding acceleration in commercial activity surrounding these new communities. Starting in 2021 and continuing into this year, we are seeing a marketed increase in conversations about helping clients look for space to position for the long-term growth of the region. We know that we are going to need commercial growth to accommodate the increase in demand for all types of services from retail, medical office, professional, along with lifestyle concepts and restaurants.”

STRONG DEMAND ALL-AROUND

THE GREAT FLORIDA MIGRATION

Strong demand for property of all types seems to be the consistent theme of 2022 and for the foreseeable future. So, if you’re wondering “what is hot in commercial real estate,” the answer would simply be “everything.”

“When residential is hot, so is commercial, and anything producing income is hot,” said 2022 RASM President Tony Veldkamp, a Senior Advisor at SVN Commercial Advisory Group. “Apartment buildings, retail space, and office buildings. Tons of investors have tons of money, and they want to buy if it is producing income. But investment properties are tough to find right now. For non-income producing, it’s land, land, land. Land for residential development, apartment development, and land for car washes and self-storage. Industrial buildings are very hot right now and tough to find. As a new trend, we’re seeing land that is zoned commercial (for shopping centers) actually becoming rezoned for multi-family use in order to build apartments. Only two years ago, land was much more valuable for retail shopping center usage than multi-family. Now it’s apartments.”

The surge in residential demand and escalating housing and rent prices have pushed the need for more infrastructure, and commercial needs of all kinds.

Continued growth of essential services is imperative.

“The old saying ‘commercial activity follows the rooftops’ has never been truer,” said Drayton Saunders,

“I am bullish on our commercial real estate market,” said Scott Cietek, Director of the Commercial Division for Michael Saunders & Company. “With approximately 1,000 people a day relocating to Florida, and a majority of those moving to Southwest Florida buying homes, and finding job opportunities, it stands to reason that commercial real estate should remain active for the foreseeable future.”

It seems like everyone is moving to Florida these days. Our beautiful year-long weather coupled with a diverse economy provides, and our area’s favorable tax environment, it’s no wonder that Florida continues to draw new residents and companies. In fact, United Van Lines reported in its 45th annual National Movers Study that Florida made the top five for inbound migration in 2021 at 62% of all cross-country moves followed by South Carolina (63%), West Virginia (63%), and both Vermont and South Dakota at 69%. 2 “We are seeing many businesses relocating from New York, California, and most especially, Chicago,” said Erin Silk, Vice President of Business Development Services for the Economic Development Corporation of Sarasota County (EDC). “It’s a trend that we started seeing even before COVID, and now we are working with more and more companies that are moving or expanding here with origins in the Chicago area.” [ Continued on page 8 ] myRASM.com | 7

COVER STORY CONTINUED “Factors such as increased crime in other cities, or the need to diversify locations to help companies become more resilient against supply chain issues like backups at certain ports, or the significant tax benefits our area offers all contribute to relocation. But in addition to relocations from out of state, we are very engaged with local industry as well and making sure that we’re really tuned in to what’s affecting them. Affordable housing continues to be an issue we hear about and now increasing gas prices as well. It’s something we’re going to have to contend with for the foreseeable future,” said Silk.

Even with the continental rise in home and commercial properties, many Florida transplants are bringing large amounts of capital with them and investing in our state, further elevating home and lease rates.

“To put it simply, many people that are moving here either have large amounts of capital that they brought with them from the sale of their northern homes and businesses, and they want to reinvest in a tax-friendly state, or they have relocated their business here and need space to set up shop,” said Ben Bakker, 2022 CREA President, and Senior Commercial Advisor with Michael Saunders & Company. “All of that added revenue is driving our activity. I talk to my out-oftown clients to track where they are moving here from. By far, it’s been the New York area. But we have been seeing a lot of in-migration from other areas as well, such as New England states, the Chicago area, and the Pacific Northwest. I think we are still seeing just the tip of the iceberg when it comes to Canadian and European new residents as well. I think those two areas alone will be fueling and keeping our local market strong for the next 18 to 24 months.”

Florida is well-known as a tax-friendly state, and this plays a big role in attracting new businesses.

“In our conversations with companies thinking of a potential expansion in Manatee County or relocating to Manatee County, the no personal income tax discussion has been the most important,” said Max Stewart, Vice President of Economic Development for the Bradenton Area Economic Development Corporation (EDC). “The sales tax on commercial leases is another point of consideration for a company looking to relocate here.”

STRONG IMPACT ON ECONOMY The migration to Florida has been a welcomed boost for our already strong economy for developers, site selectors, chambers of commerce, and of course, both residential and commercial Realtors®. According to data from the NAR Commercial Real Estate Metro Market Reports, Florida is truly dominating the commercial real estate market. Based on the index, Florida had nine of the top 15 metro areas among metro areas with a population of at least 250,000.

Following Florida is the state of Washington, with three metro areas in the hottest commercial markets list. North Carolina, South Carolina, and Tennessee are the other states that scored well. 3 “The biggest long-term benefit from the current commercial boom is the growth and diversification in 8 | ELEVATE [ MAY 2022 ]

the local job market,” said Drayton Saunders, President of Michael Saunders & Company. “Beyond the direct and immediate benefit of job creation, commercial growth also has the less talked about benefit of adding to the tax base and funds critical to improving key infrastructure needs. The other big impact is a notable shift in our region’s status as a key market for business expansion. The region has moved from outlier to core for more and more national and mega-regional firms looking to grow. The most notable sign of this change is the face of restaurant and retail brands popping up among an already well-established list of names.”

The commercial and residential markets truly go hand in hand. Most savvy Realtors® will have at least some understanding in both fields, even if they specialize in one or the other. Convenient commercial services are the heart of a community; they are a strong reason for why so many people choose to live in the sunshine state.

“Both counties are experiencing tremendous amounts of activity at the moment,” said Bakker. “Both sales and leasing are strong right now. I focus primarily in the Bradenton area and in Manatee County, and this current market is causing massive renewal. Properties that have sat empty or vacant in the past have now been snatched up and are currently being built out.

I even have a waiting list full of well-heeled and qualified buyers looking to spend money in our area and very little to sell them at the moment. It’s just the simple law of supply and demand in action. We are well into the secondary phase of infill development now – where old buildings are now getting bought up or leased out and getting replaced with new products such as offices, retail, restaurants, and medical space.

It’s really breathing fresh new life into the inventory we’ve had, and it’s exciting to see.”

“Commercial real estate is strong,” added Stewart, “especially in the industrial warehouse space; anything over 20K square feet and in good condition, for example, is under contract or purchased. We could use more spec warehouse space that will entice companies to take a look at the Manatee County market, as we have several projects looking for single-user buildings over 150K square feet.”

GROWTH CHALLENGES With this influx of new residents, companies, and industries, comes certain challenges that affect our overall space availability, further taxing our already low inventory levels. Planning for this onslaught of growth and projecting our future needs is essential.

“The EDC is tasked by the county to work in certain industries that we’ve deemed diversifying and fast-growing, so our community continues to have a competitive advantage, meet our growing needs, and help diversify our economy,” said Silk. “We are working with industrial users, manufacturers, technology-based industries, life sciences, medical, and office space users, including companies who wish to relocate or establish a corporate headquarters location in our community. What we’ve seen in the last several months and what we continue to experience is a huge demand in companies that are looking to move here or expand here. So, of course, what this translates to is a simple supply and demand scenario.”

“However, we are working closely with the City of North Port as well as Sarasota County Government, and both the cities of Sarasota and Venice to help plan for future growth,” added Silk. “Because of zoning issues and lack of inventory, there’s just not much opportunity for shovel ready sites at all right now. So that’s where we’re working with the city of North Port as they’re bringing quite a bit of acreage online over the next few years and hopefully, ease the supply issues we’re currently facing. We are also working with Sarasota County to identify additional potential places for business parks, which we defined as a mix between office and industrial use. I don’t think we’ll have immediate inventory relief, but it’s part of our plan for future use and long-term investment in our community.”

In addition to the communities to our south, we are also seeing additional growth farther north. The demand for space of all types is so intense, that it’s allowing for infrastructure to expand our community to include more resources and opportunities for all our residents.

“Parrish has been exploding in a residential sense,” said Bakker. “Hundreds and hundreds of new homes with new families are seeking homes, driving the price point higher. And all of those people need a place to get a gallon of milk, or get their oil changed, or grab a cup of coffee. When you put in that many new residential rooftops, the commercial developments have to go along with it. And that’s why you see the sleepy cow pastures of US 301 looking more and more like Tamiami Trail every day!”

WHAT DOES THE FUTURE HOLD? “The future looks very bright for commercial real estate,” said Veldkamp. “With all the residential development and new apartments, we do not have enough support services for these new residents such as restaurants, stores, auto service, etc. And with commercial retail land being rezoned for apartments it is only going to add to the shortage. So, we have a lot of catching up to do, but that work equals opportunity.

Several areas of our market need restaurants, oil change stores, dry cleaners, medical offices, small office space, etc. So, we’ll be busy for years to come.”

In short, more people moving to our communities truly equals more opportunity for many industries, more of all the things that make our area so desirable in the first place - more room for smart growth.

“We keep really close record of how many companies we’re working with,” said Silk, “and how many potential jobs they could create, what kind of capital investment numbers come from them, etc.

Currently, in our project pipeline, we’re working with seventy six companies. That is more than double what our project pipeline used to be before COVID. Those companies are a combination of local expansions and attraction projects, and it represents over 8,000 potential new jobs, and over $300 million in capital investment in our community. So, there’s a huge opportunity for our economy and for our community, both now and in the future. With that opportunity comes big challenges as well that are not unique to our communities, that we are all familiar with such as supply chain issues, workforce, and affordable housing. However, I do think that our community is a unique place that attracts skilled and talented people from all over the world, and we have an opportunity to create some unique and innovative solutions. It’s just such an interesting time right now.” •

SOURCES: 1 | CoStar Group Market Reports. Data obtained in 2| 3|

March, 2022. https://www.floridarealtors.org/news-media/newsarticles/2022/01/americans-moving-sun-belt-states https://www.nar.realtor/research-and-statistics/ research-reports/commercial-real-estate-metro-marketreports

Photo on page 8: Sarasota Drone Guy, at www.sarasotadroneguy.com

myRASM.com | 9

PROFESSIONAL STANDARDS

Dispute Between Realtors® in Different Boards By: National Association of REALTORS® Interpretations of the Code of Ethics Agreement Case 17-2 (Revised Case #14-6 May, 1988. Transferred to Article 17 November, 1994. Revised November, 1995.)

R

ealtor® A cooperated in the sale of a commercial property with Realtor® B, the listing broker.

Realtor® A is a member of the XYZ Board of REALTORS®, and his office is located in the XYZ Board. Both the property and Realtor® B’s office are located within the jurisdiction of the ABC Board of REALTORS® where Realtor® B is a member. A dispute arose between Realtors® A and B over the division of the commission.

Realtor® A filed a request for arbitration with the Professional Standards Committee of his Board.

The President of the Board, when advised of the contractual dispute, subsequent to the Grievance Committee finding the matter arbitrable and of a mandatory nature, notified the President of REALTOR® B’s Board and requested interboard arbitration in accordance with Article 17 of the Code of Ethics. The arbitration request was brought before the Grievance Committee of REALTOR® B’s Board which also determined that the dispute was arbitrable and of a mandatory nature.

One week before being notified of his Grievance Committee’s decision, Realtor® B filed suit against Realtor® A. The Board of Directors of the ABC Board notified Realtor® B to appear and answer to a charge of violation of Article 17 when Realtor® B did not withdraw the suit subsequent to being informed that both Grievance Committees had found the issue arbitrable and mandatory.

Realtor® B described his contractual dispute to the Directors and stated that he knew Realtor® A had requested arbitration because he had received a copy of the request. Realtor® B maintained that he had filed suit because Realtor® A was in another Board’s jurisdiction and he did not think anything would come of the request since he, Realtor® B, was not a member of the XYZ Board.

Realtor® B was advised that since both Grievance Committees had determined the matter was arbitrable and mandatory that interboard arbitration was being scheduled to hear the dispute. The Board of Directors concluded that his action in filing suit was not in itself in violation of Article 17 but advised Realtor® B that if he failed to withdraw from the suit and participate in the interboard arbitration, he could be found in violation of Article 17. • Published with the consent of the NATIONAL ASSOCIATION OF REALTORS®.

Copyright NATIONAL ASSOCIATION OF REALTORS®-All Rights Reserved.

941-556-8895 Sharonb@CoastalPrint.com

CoastalPrint.com 4391 Independence Court Sarasota, FL 34234

10 | ELEVATE [ MAY 2022 ]

BUSINESS PARTNER SPOTLIGHT

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When you deal with Core Financial, you get what you pay for. They work with the top wholesale

lenders nationwide to find their clients the best rates and programs available.

As a trained and caring professional, Rachel is able to utilize numerous lenders to find the best loan products, the lowest rates, and the fastest closing times. Contact Rachel today at 941-350-6363 or rachel. putnam@corefinancial.online. You definitely want her in your corner! •

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RASM NEWS YOU CAN USECOUNCIL PROPERTY MANAGEMENT

Short Term Rentals for Your Buyers By: Xena Vallone, Broker/Owner, NextHome In The Sun

A

re you working with investors or second home buyers who are thinking about purchasing a property to rent on a short-term basis, like VRBO and Airbnb? There are many buyers in the market for this type of home, and this is a specialized area of real estate should be handled with care.

SHORT-TERM RENTAL ISSUES There are many issues that come along with short-term rentals, such as restrictions on when you can rent, proper handling of reservations, tenants, cleaning, licensing, sales and resort taxes, and property maintenance in general. A good property manager in your toolbox will help you look like the professional you are.

DO YOUR RESEARCH Don’t rely on what you see in the MLS. It is your job to confirm whether a location can be rented in the way your customer intended. Each city, county, homeowner association, and condominium association, will have their own restrictions on how long you can rent for, at a minimum, and how many times per year you can do this. In addition to the length of time you may rent there are some communities that regulate occupancy limits, parking, and so much more. If you provide the wrong information to a customer and they later find out they were not able to rent the property the way they intended, there is the potential for great liability to you and your broker.

Homeowner associations and condominium associations are generally not going to allow weekly or daily rentals unless they are located on the barrier islands, and again, not all will allow this. Do your due diligence by contacting the management companies and/or municipalities to get the information from the “horse’s mouth.”

A future landlord will want to know what income they can potentially earn from a specific property.

There are many factors to consider in pricing, i.e., the time of year (season/off-season/holidays/events), location, and condition of the property. Additionally, you should have an idea of what expenses that property will have, i.e., taxes, utilities, maintenance,

12 | ELEVATE [ MAY 2022 ]

etc. Also, you need to understand vacancy ratios as well. When advising your customer, you need to be able to describe what makes a vacation home desirable over the others. Be ready to answer questions like the number of bedrooms, location, amenities nearby, etc.

EXPERIENCED PROPERTY MANAGER If you do not manage these types of properties yourself, you will need the assistance of an experienced property manager who handles shortterm rentals. As previously mentioned, this is a specialized area of property management, and not all property managers work with short-term properties.

You should identify a few that will work with shortterm properties and provide that list to your buyer. A good property manager will be able to advise you on the best ways to rent a property and what income can potentially be earned from that property, as well as many other things.

If this is an area of real estate that you are interested in and you want to learn more about, please join the Property Management Council (PMC) and watch for upcoming educational events at RASM. • TUESDAY, MAY 17 2:00 p.m.

Property Management Council Roundtable [ South ]

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REALTOR® ATTORNEY JOINT COMMITTEE

Best Practices for Closing on a Florida Property By: Mallory Bauer, Esq., Berlin Patten Ebling PLLC

W

ith the real estate market in the SarasotaManatee area continuing to break records, the amount of closings I handle seems to increase monthly. With the volume of closings that we’ve seen, every new closing presents a new learning opportunity.

Below is a non-exhaustive list of some of the most important issues to address when working with buyers and/or sellers. Some of these tips can make the difference between a happy closing and an unhappy closing:

1 | Simultaneous Closings: A simultaneous

4 | Making the Final Wire Transfer: When a

closing occurs when a buyer’s purchase is dependent upon their home sale occurring on the same day. It is important to educate your buyers that a simultaneous closing, while seemly synchronistic, may come with additional stress if the first closing gets delayed and now the buyer does not have the funds to close as expected.

2 | Mail-Away Closings: If you are working with a seller or buyer that will not be present for closing, it is important to inform the client of the process of a mail-away transaction. If the buyer is financing, they might be signing documents on the closing date and the seller might not receive their closing proceeds until the following day when the original documents arrive at the closing agent’s office. Make sure to set expectations with your clients upfront as to not have any last-minute hiccups.

3 | Closing Dates: Avoid closing dates that are the last business day of the month or on a Friday.

Most closings take place on a Friday or on the last business day of the month. Take the time to look at the calendar when the contract is being drafted. Pick a Tuesday or Wednesday closing date in the middle of the month; your client(s) will get an exorbitant amount of attention and never feel rushed.

buyer is bringing their final cash-to-close to the closing agent, the funds will typically need to come in the form of a wire; some closing agents might have exceptions. Buyers should be advised of the fact that funds need to be deposited in the closing agent’s account by closing day, and sometimes, dependent upon the bank, wires can take minutes, hours, or days. Discuss where the funds are coming from as to avoid any delays.

5 | Conduct a Final Walk-Through: Always advise your buyers to conduct a final walk-through.

If the buyers states that they do not require one, make sure they sign a walk-through form indemnifying you as a real estate agent, so you are not on the hook if something is broken when they visit their home for the first time after purchasing.

14 | ELEVATE [ MAY 2022 ]

The above lists just a few of the best practices to abide by in order to have a smooth and happy closing.

The real estate market is ever-changing, and as real estate professionals, we have to quickly adapt and ensure that our clients’ expectations are always met. •

This article is meant for educational purposes only. It is not intended to serve as legal advice and should not be used as a substitute for consultation with an attorney.

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BROKER PARTICIPATION WELCOMED. ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS REFERENCE SHOULD BE MADE TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. NOT AN OFFERING WHERE PROHIBITED BY STATE LAW. PRICES SUBJECT TO CHANGE WITHOUT NOTICE.

FLStockDevelopment StockDevelopment

GOVERNMENT AFFAIRS

Penny Tax Improvements and NAR Legislation Meetings By: Max Brandow, RASM Vice President of Advocacy and Member Programs

T

he Penny Tax in Sarasota County has existed for 32 years, and in that time, every one of our citizens have benefited in some way from this penny tax.

We’ve seen increased funding for water quality improvements, renourished our beaches, constructed hurricane shelters, and increased funding for emergency vehicle technology, which has resulted in quicker response times for residents in emergency situations.

PENNY TAX ON THE BALLOT This penny surtax in Sarasota County is on the ballot again this November, and it’s imperative we support this essential funding source for our community. The great thing about the surtax is that the cost doesn’t fall solely on residents’ shoulders; tourists and visitors in Sarasota County provide over 20% of the funds collected from Penny for Improvements. It sustains and improves public safety, water quality, environment, traffic congestion, parks, and more. This is a true quality of life initiative, and the REALTOR® Association of Sarasota and Manatee is proud to support this campaign. For more information on this important issue head over to www.pennyforimprovements.com, or reach out to me at Maxwell@myrasm.com.

RASM MEMBERS ATTEND NAR LEGISLATIVE MEETINGS TO DISCUSS TOP FEDERAL ISSUES RASM Members and Realtors® throughout the country traveled to Washington, D.C. this month to discuss top federal issues and attend legislative and economic updates from industry experts. The profound importance and powerful impact of NAR’s advocacy work have become increasingly clear over the last several years. The Realtors® Legislative Meetings allow us to build on that momentum and continue the critical policy conversations among

16 | ELEVATE [ MAY 2022 ]

Realtors®, lawmakers, and industry leaders. The top federal issues NAR and RASM are watching this year are fair housing, flood insurance, protections for Fannie Mae and Freddie Mac, improving transportation and infrastructure, and tweaking the VA home loan guarantee program to make the program accessible to all eligible veteran borrowers.

SAVE THE DATE: MAJOR INVESTOR PLEDGE PARTY The RASM RPAC Committee would like to invite all RPAC Major Investors and Major Investor Pledges to a special night out at Sarasota Waterworks on September 26. This event will feature special guests and speakers and will give RASM an opportunity to thank all our members who are on the frontlines of our advocacy efforts.

Those who pledge to become RPAC Major Investors in 2022 can be on the lookout for more information about this great party coming up. •

1|

Source: Florida REALTORS®

MARKET ANALYSIS

Median Sale Price Reaches $500,000 for Single-Family Homes in Sarasota and Manatee By: Gina McCarthy, RASM Vice President of Communications and Engagement

T

he spring housing market is in full swing in Sarasota and Manatee counties.

According to data from Florida REALTORS® and compiled by the REALTOR® Association of Sarasota and Manatee (RASM), March 2022 reported more new listings and closed sales from the previous month, while homes are going under contract quicker than any month prior. The median sale price for single-family homes in the North Port-Sarasota-Bradenton MSA increased year-over-year by 29.9 percent to $500,000, the highest recorded median sale price for the metropolitan area.

Closed sales in March 2022, combined for both property types in the two counties, decreased yearover-year by 29 percent. Compared to the previous month, closed sales increased by 29.8 percent to a total of 2,350 sales, compared to 1,811 sales in February.

“Spring is a popular time for the housing market.

Between February and March of this year, there was a month-over-month increase in closed sales, pending sales, new listings, and inventory; indicating more activity in our market,” said 2022 RASM President Tony Veldkamp, a Senior Advisor at SVN Commercial Advisory Group. “Notably, the median sale price for single-family homes has reached a new threshold that may be out of reach for many buyers looking to enter the market; especially as interest rates continue to increase. We’ll be watching the effects of rising interest rates to determine if this is the start of the market beginning to settle down.”

There were fewer single-family home sales in March 2022 when compared to the same month last year; single-family sales decreased by 20.2 percent to 724 sales in Manatee County, and Sarasota County sales decreased by 26.5 percent to 859 sales. In the condo market, closed sales decreased year-over-year; down by 39.9 percent to 298 sales in Manatee and down by 36.4 percent to 469 sales in Sarasota.

The median sale price for both property types in the two counties has once again increased from the previous year. Prices for single-family homes in Sarasota County rose year-over-year by 28.4 percent to $487,500, while in Manatee the median price surpassed the previous record with a 32.9 percent increase to $525,000.

For condos, the median price in Sarasota increased by 27.7 percent from last year to $370,000 and Manatee prices increased by 30.8 percent to $320,539.

The number of properties added to the market last month increased year-over-year by 4.2 percent for single-family homes but decreased by 2.4 percent for condos. Compared to the previous month, condo new listings increased month-over-month by 18.2 percent, and single-family new listings increased by 28.5 percent from the month earlier.

“The single-family home market is showing a positive change in new listings when compared to last year. If new listings continue to outpace the total number of sales each month, inventory will start to level off,” added Veldkamp. “In Sarasota County, inventory for single-family homes shows the first positive year-overyear increase since June of 2019. We’ll be watching to see if this is another initial sign of the market beginning to stabilize.”

At the end of March, there were 1,594 active listings combined in both counties which is a 14 percent decrease from March 2021. Compared to last month, active inventory increased by 23.9 percent when combined for the two counties. Unsold inventory sits at a 0.7-month supply for single-family homes and condos, which is up from February’s report of 0.6 months for single-family homes and 0.5-months for condos.

The median time it took for properties to go under contract was just five days in March, a year-over-year decrease of 54.5 percent for single-family homes and a 75 percent decrease for condos. Just last month, properties went under contract at a median of six days.

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 - March 2022 Single-Family Homes Sarasota County March 2022

March 2021

Percent Change Year-over-Year

859

1,169

-26.5%

433

493

-12.2%

Median Sale Price

$487,500

$379,695

28.4%

Average Sale Price

$661,402

$606,126

9.1%

$568.1 Million

$708.6 Million

-19.8%

Med. Pct. of Orig. List Price Received

100.0%

100.0%

0.0%

Median Time to Contract

5 Days

13 Days

-61.5%

Median Time to Sale

42 Days

56 Days

-25.0%

825

1,098

-24.9%

New Listings

1,105

1,075

2.8%

Pending Inventory

1,218

1,675

-27.3%

Inventory (Active Listings)

690

680

1.5%

Months Supply of Inventory

0.8

0.8

0.0%

Closed Sales Paid in Cash

Dollar Volume

New Pending Sales

1,400

2018

2019

2020

2021

Closed Sales

1,200 1,000 800 600 400 200 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

Median Sale Price

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

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

4,000

Inventory

3,500

3,000 2,500

2,000 1,500 1,000 500 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

2018

2019

2020

2021

18 | ELEVATE [ MAY 2022 ]

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Monthly Market Summary - March 2022 Single-Family Homes Manatee County March 2022

March 2021

Percent Change Year-over-Year

724

907

-20.2%

278

307

-9.4%

Median Sale Price

$525,000

$395,000

32.9%

Average Sale Price

$703,385

$536,981

31.0%

$509.3 Million

$487.0 Million

4.6%

Med. Pct. of Orig. List Price Received

100.0%

100.0%

0.0%

Median Time to Contract

5 Days

9 Days

-44.4%

Median Time to Sale

43 Days

55 Days

-21.8%

New Pending Sales

705

826

-14.6%

New Listings

837

788

6.2%

1,091

1,251

-12.8%

Inventory (Active Listings)

431

467

-7.7%

Months Supply of Inventory

0.6

0.7

-14.3%

Closed Sales Paid in Cash

Dollar Volume

Pending Inventory

1,000

2018

2019

2020

2021

Closed Sales

800 600 400 200 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

Median Sale Price

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

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

Inventory

3,000 2,500 2,000

1,500 1,000 500 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

2018

2019

2020

2021

myRASM.com ̺ ̵ Ǥ ͳͷ Ǥ ǡ ʹͲǡ ʹͲʹʹǤ ǡ ͳͻǡ ʹͲʹʹǤ

| 19

Monthly Market Summary - March 2022 Townhouses and Condos Sarasota County March 2022

March 2021

Percent Change Year-over-Year

469

738

-36.4%

322

425

-24.2%

Median Sale Price

$370,000

$289,750

27.7%

Average Sale Price

$532,189

$580,688

-8.4%

$249.6 Million

$428.5 Million

-41.8%

Med. Pct. of Orig. List Price Received

101.1%

97.8%

3.4%

Median Time to Contract

5 Days

21 Days

-76.2%

Median Time to Sale

43 Days

66 Days

-34.8%

New Pending Sales

471

678

-30.5%

New Listings

532

563

-5.5%

Pending Inventory

896

1,106

-19.0%

Inventory (Active Listings)

272

477

-43.0%

Months Supply of Inventory

0.6

1.1

-45.5%

Closed Sales Paid in Cash

Median Sale Price

Closed Sales

Dollar Volume

800 700 600 500 400 300 200 100 0 $400K $350K $300K $250K $200K $150K $100K $50K $0K

2018

2019

2020

2021

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

Inventory

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

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

2018

20 | ELEVATE [ MAY 2022 ]

2019

2020

2021

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Monthly Market Summary - March 2022 Townhouses and Condos Manatee County March 2022

March 2021

Percent Change Year-over-Year

298

496

-39.9%

188

230

-18.3%

Median Sale Price

$320,539

$245,000

30.8%

Average Sale Price

$394,151

$299,824

31.5%

$117.5 Million

$148.7 Million

-21.0%

Med. Pct. of Orig. List Price Received

100.2%

97.9%

2.3%

Median Time to Contract

5 Days

19 Days

-73.7%

Median Time to Sale

42 Days

62 Days

-32.3%

New Pending Sales

311

412

-24.5%

New Listings

363

354

2.5%

Pending Inventory

454

553

-17.9%

Inventory (Active Listings)

201

230

-12.6%

Months Supply of Inventory

0.7

0.8

-12.5%

Closed Sales Paid in Cash

Dollar Volume

600

2018

2019

2020

2021

Closed Sales

500 400 300 200 100 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

Median Sale Price

$350K $300K $250K

$200K $150K $100K $50K $0K

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

Inventory

1,200 1,000 800

600 400 200 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

2018

2019

2020

2021

myRASM.com | 21

̺ ̵ Ǥ ͳͷ Ǥ ǡ ʹͲǡ ʹͲʹʹǤ ǡ ͳͻǡ ʹͲʹʹǤ

RASM NEWS

New RASM Team Member

R

ASM is excited to introduce our newest team member.

Kristen Oriente is the new Communications and Marketing Coordinator at RASM. Kristen is a Sarasota native and obtained her Bachelor’s degree in Marketing from the University of South Florida SarasotaManatee. Upon graduation, she worked briefly as a production assistant and handled marketing and sales for a construction company before finding a home at RASM. As the Communications and Marketing Coordinator, Kristen will be assisting with the website and social media content, weekly newsletters, digital marketing materials, and the overall implementation of communications and marketing strategies.

In her free time, Kristen loves traveling, being active, and spending time with her fiancé and their two dogs, Kodak and Alaska. She also loves taking the jet ski out and spending time on the water. •

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Real Estate v Estate Planning Commercial Litigation

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941.954.9991 www.berlinpatten.com 22 | ELEVATE [ MAY 2022 ]

LEAVE A LEGACY FOR YOURSELF, YOUR BUSINESS, OR A LOVED ONE.

BUY-A-BRICK

$300 - 4x8 Brick North South Pave the way toward a brighter future for college-bound students, 3 lines of text, 20 characters per line (including spaces and punctuation) housing-related non-profits, and REALTORS® in need through your purchase of an engraved brick. All proceeds from the “Buy-a-Brick” campaign go directly toward the 3-pronged mission of the RASM REALTORS® Charitable Foundation: $300 - 4x8 Brick

North

South

3 lines of text, 20 characters per line (including spaces and punctuation)

RRCF OBJECTIVES Support local housing-related non-profits

$400 - 4x8 Brick

Provide student scholarships for higher education

North

South

3 lines of text, 12 characters per line (including spaces and punctuation)

Clipart

Assist RASM members in crisis

North South $400 - 4x8 Brick For a one-time investment starting at $300, an engraved 3 lines of text, 12 characters per line (including spaces and punctuation) brick is great way to celebrate your involvement in the real estate community, honor your mentors & colleagues, or Clipart $400 - 4x8 Brick memorialize a loved one. $300 - 4x8 Brick North South North

South

2 lines of text, 20 characters per line (including spaces and punctuation) 3 lines of text, 20 characters per line (including spaces and punctuation)

Bricks will pave the entrance walkways at RASM South and/or RASM North (opening in June 2022). $300 - 4x8 Brick

Clipart $400 - 4x8 Brick North

South North

South

SCAN TO ORDER 3 lines of text, 20 characters 2per lineof(including spaces and lines text, 20 characters perpunctuation) line (including spaces and punctuation) North $400 - 4x8 Brick with Custom SouthLogo $400 - 4x8 Brick Clipart 3 lines of text, 12 characters per line (including spaces and punctuation)

North

South

Digital image files should beClipart sent as ai, eps, psd, pdf, tiff or jpeg files.

All images should have a minimum resolution of 300 dpi and should be provided in black and white.

$400 - 4x8 Brick

Send images to: tiffany@myrasm.com North SouthLogo $400 - 4x8 Brick with Custom

3 lines of text, 12 characters per line (including spaces and punctuation)

MYRASM.COM/FOUNDATION

North

South

Digital image files should beClipart sent as ai, eps, psd, pdf, tiff or jpeg files.

JUNE 23 | 4 - 7 PM

GRAND OPENING

CELEBRATION! RASM NORTH

2901 MANATEE AVE. WEST | BRADENTON, FLORIDA RSVP AT MYRASM.COM/CALENDAR

MAJOR INVESTOR PLEDGE Reach Further™ by Investing in Your Profession.

RPAC’s Major Investors are an elite and passionate group of REALTORS® and Business Partners whose investments shape the political future of the real estate industry. Show your commitment to the industry by taking the pledge to become a 2022 RPAC Major Investor.

24 | ELEVATE [ MAY 2022 ]

TAKE THE PLEDGE

GLOBAL BUSINESS COUNCIL

Lay the Foundation of Your Global Business: Become Active in the Global Business Council By: Mousa Wakileh, Realtor®, CIPS, Coldwell Banker Realty

R

ASM members who are active in the Global Business Council are more educated and aware of the current global market. They are able to take advantage of the many opportunities within our local market, as well as a fair share of referrals in other markets in various parts of the world.

EDUCATIONAL AND NETWORKING EVENTS Typically, once a month, the GBC hosts an educational event to empower its members with tools and knowledge to create and maintain a larger share of the global real estate economy. Members can network with other like-minded global agents and educate themselves on the intricacies of transactions for both international buyers and sellers, as well as U.S. clients investing across the globe. Such events are usually well attended by key business partners and affiliates that are needed to ensure a smooth transaction and possibly a great leads source.

TRADE MISSIONS There are two types of Trade Missions (inbound and outbound). Such international trips are organized to build relationships and explore international business opportunities. By being an active RASM GBC member, you will be the first to know of such opportunities and upcoming trade missions organized by the state and national Global Business Council.

TRAVEL THE WORLD WITH YOUR GLOBAL BUSINESS COUNCIL! The Global Country Spotlight Series takes you on a virtual journey across the globe to explore different countries. Learn their history and culture, understand how their real estate market works and how to make connections in that country, and here in U.S.A. The Global Spotlight Series is FREE for GBC members. Non-GBC members who want to attend will be charged a one-time $25 fee and be given a free GBC membership for 2022. The Spotlight series will consist of virtual and in-person elements. All of the in-person sessions will be followed by networking and wine & cheese.

UPCOMING GLOBAL SPOTLIGHT SERIES: COLOMBIA Thursday, June 16 2:00 - 4:00 p.m. [ RASM South or Webinar ]

PANAMA Tuesday, September 13 2:00 - 4:00 p.m. [ RASM South or Webinar ]

IRELAND Tuesday, October 18 2:00 - 4:00 p.m. [ RASM South or Webinar ] •

GLOBAL BUSINESS COUNCIL The Global Business Council at RASM is here to assist you in learning more about international connections and information on foreign countries. Join GBC for just $25 a year. For more information, contact the RASM GBC Staff Liaison, Denise Ricciotti, at 941952-3404 or email Global@myrasm.com.

myRASM.com | 25

BRAND YOURSELF AS A “WATERFRONT EXPERT” Reach Further with RASM’s own waterfront certification.

LEARN MORE AT MYRASM.COM/CWS

SOUTH

JUNE 8 | 9 AM - 5 PM

R E A L TO R S ® COMMITMENT TO E X C E L L E N C E

Ready to rock? C2EX can help you take it to the next level.

Amp up your career at C2EX.realtor

26 | ELEVATE [ MAY 2022 ]

NEIGHBORHOOD SPOTLIGHT

Beachwalk by Manasota Key By: Jenna Tarifa, Realtor®, Align Real Estate

W

elcome to Beachwalk by Manasota Key, a vibrant community tucked away in Englewood, located in south Sarasota County. This new construction community allows its homeowners to relax and retreat to their private residences while being surrounded by resort-style amenities.

Homeowners can lounge around the resortstyle pool with lap lanes or enjoy the 11,000 square foot clubhouse with a fitness center, social lounge, café, activity rooms, and a large covered terrace. If homeowners don’t like cooking or want to entertain friends, they can indulge at the on-site Waterline Restaurant or High Tide Outdoor Bar & Grill.

The neighborhood also offers a 20,000 square foot dog park, community garden, and 21 sports courts, and will often host many community events. This hidden gem of a neighborhood truly embodies the sunny Florida lifestyle without sacrificing peace and quiet.

The coastal-styled homes conform to the neighborhood’s location as Manasota Key Beach is just a short 5-minute drive away. The 2-4 bedroom homes start in the $400s and can range well over $700k.

Potential homeowners have the flexibility to choose their lot, floor plan, and inside finishes at the design center. Allowing homeowners to personalize their homes to their tastes and truly create their dream home.

The neighborhood is in such a desirable location as it’s only minutes to Olde Englewood Village and West Dearborn Street. Loaded with history, West Dearborn Street became Englewood’s commercial hub in the early 1900s. At the time, Englewood was Sarasota County’s second-largest city and was chosen to be a stop along with the original construction of the Tamiami Trail. Today, the downtown area of Englewood has multiple local restaurants, boutiques, and art galleries.

SUBMIT YOUR FAVORITE NEIGHBORHOOD Do you have a favorite neighborhood in Manatee or Sarasota that you would like to share? Nominate your neighborhood of choice for a chance to be featured in a future Neighborhood Spotlight segment. Visit www. myrasm.com/submit-your-favorite-neighborhood-for-achance-to-be-in-elevate-magazine. •

myRASM.com | 27

NEED TO RENEW YOUR LICENSE? CLASS

DATE

CORE LAW

MAY 12

CODE OF ETHICS

MAY 26

CORE LAW

AUGUST 10

CODE OF ETHICS

AUGUST 18

14 HRS CE

SEPTEMBER 6 & 7

GRI 100 SERIES 101

AUGUST 1 & 2

102

AUGUST 15 & 16

103

AUGUST 29 & 30

LEARN MORE AT

myrasm.com/calendar

PROFESSIONAL DEVELOPMENT

BOOST: Building Ourselves and Others Through Strategic Training By: Denise Ricciotti, RASM Professional Development Manager

M

ay brings the return of RASM’s popular BOOST series.

Whether you are a new agent or need a refresher, this series of classes takes you through the basic fundamentals of real estate, with practical dayto-day buisness training.

“Each day learn something new, and just as important, relearn something old,” Robert Brault.

BOOST SPRING SCHEDULE: RUNNING YOUR BUSINESS AS A BUSINESS Wednesday, May 4

9:00 a.m. - noon

RASM South

Class 1 of this new agent program is designed to help you get your business started in order to make you successful right from the start. Learn tax strategies, how to decide to list your business as a sole proprietorship, time management skills, creating business plans, and more.

9:00 a.m. - noon

RASM South

Developing a CMA for your seller or buyer can be tricky. In Class 2 of BOOST, learn how to utilize the tools available to you so you can prepare an accurate price for your listings. CMAs are NOT appraisals!

MARKETING YOURSELF & OPEN HOUSES Wednesday, May 18

9:00 a.m. - noon

RASM South

Class 3 of BOOST prepares you for hosting an effective open house, including farming techniques and social media advertising to get buyers in the door.

BUILDING YOUR CRM Wednesday, May 25

GREEN DESIGNATION May 23 & 24

9:00 a.m. - 5:00 p.m.

RASM South

Builder and consumer adoption of sustainability is rapidly growing, and Green designation training can help you become the go-to green Realtor® in your market. The Green designation provides you with detailed training in green building and sustainable business practices so you can help clients make informed choices about the resource efficiency and performance of the homes they live in, sell and buy. The Green designation is the only real estate designation recognized by the National Association of REALTORS® that’s designed for residential, commercial, and property management professionals looking to learn about issues of energy efficiency and sustainability in the various facets of real estate.

Register at myrasm.com/calendar.

REALTORS® NEWLY DESIGNATED & CERTIFIED

THE ART OF COMPS Wednesday, May 11

STAND APART WITH ENHANCED TRAINING ABOUT THE GROWING GREEN SECTOR

9:00 a.m. - noon

RASM South

Get to know some of the Client Relationship Management platforms on the market and lead generation strategies. Knowing how to generate and organize leads is imperative for a successful Realtors®.

C2EX Barbara Benz, EXP Realty LLC e-PRO® Alec LaMaida, Coldwell Banker Realty Graduate REALTOR® Institute (GRI) Sharadan Michelle Edmonds, Allison James Estates & Homes Gary David Wojciechowski, Wagner Realty Short Sales and Foreclosure Resource® (SFR®) Estraica Grayson, Align Right Realty SRQ Opulence Seller Representative Specialist (SRS) Scott Carpenter, Coldwell Banker Realty Robin Kollar, Coldwell Banker Realty •

myRASM.com | 29

MAY 2022

CALENDAR OF EVENTS WEDNESDAY, MAY 4 9:00 a.m.

BOOST: Running Your Business As A Business [ Hybrid ]

FRIDAY, MAY 6 9:00 a.m.

CREA Marketplace [ South ]

MONDAY, MAY 9 9:00 a.m.

New Member Orientation [ Hybrid ]

TUESDAY, MAY 24 9:00 a.m.

WEDNESDAY, MAY 25 9:00 a.m.

9:00 a.m.

9:00 a.m.

BOOST: The Art of Comps [ Hybrid ] Fair Housing Act [ Online ]

THURSDAY, MAY 12 9:15 a.m.

Business Partner Membership Meeting [ South ]

1:00 p.m.

Core Law [ South ]

BOOST: Building Your CRM [ Hybrid ]

THURSDAY, MAY 26 9:00 a.m.

WEDNESDAY, MAY 11

Green Designation (Day 2 of 2) [ Hybrid ]

Code of Ethics [ South ]

FRIDAY, MAY 27 9:00 a.m.

CREA Marketplace [ South ]

WEDNESDAY, JUNE 1 8:30 a.m.

ABR: Accredited Buyer Representative (Day 1 of 2) [ Hybrid ]

THURSDAY, JUNE 2 FRIDAY, MAY 13 9:00 a.m.

CREA Marketplace [ South ]

1:00 p.m.

iCE: Jumpstart your Real Estate Career [ Hybrid ]

TUESDAY, MAY 17 8:30 a.m.

CREA Member Meeting [ South ]

2:00 p.m.

Property Management Council Roundtable [ South ]

8:30 a.m.

ABR: Accredited Buyer Representative (Day 2 of 2) [ Hybrid ]

9:30 a.m.

YPN: Trolley Tour: Waterfront Boat Tour [ Evie’s Spanish Point Tiki Bar ]

FRIDAY, JUNE 3 9:00 a.m.

FRIDAY, MAY 20 9:00 a.m.

TUESDAY, JUNE 7

9:00 a.m.

Green Designation (Day 1 of 2) [ Hybrid ]

30 | ELEVATE [ MAY 2022 ]

8:30 a.m.

CREA Member Meeting [ South ]

1:30 p.m.

Top Producer Panel [ Hybrid ]

THURSDAY, JUNE 16 2:00 p.m.

Hurricane Preparedness Panel [ South ]

9:00 a.m.

Certified Water Specialist [ South ]

9:00 a.m.

Business Partner Orientation [ South ]

FRIDAY, JUNE 10 9:00 a.m.

CREA Marketplace [ South ]

Global Spotlight on Columbia [ Hybrid ]

FRIDAY, JUNE 17 9:00 a.m.

CREA Marketplace [ South ]

TUESDAY, JUNE 21 8:00 a.m.

GRI 301 (Day 1 of 2) [ South ]

WEDNESDAY, JUNE 22 8:00 a.m.

GRI 301 (Day 2 of 2) [ South ]

FRIDAY, JUNE 24 CREA Marketplace [ South ]

MONDAY, JUNE 27 GRI 302 (Day 1 of 2) [ South ]

TUESDAY, JUNE 28 8:00 a.m.

GRI 302 (Day 2 of 2) [ South ]

5:30 p.m.

YPN: Celebrity Bartending [ Cask & Ale ]

WEDNESDAY, JUNE 8

CREA Marketplace [ South ]

MONDAY, MAY 23

CREA Marketplace [ South ]

New Member Orientation [ Hybrid ]

TUESDAY, JUNE 14

8:00 a.m.

WEDNESDAY, MAY 18 BOOST: Marketing Yourself and Open Houses [ Hybrid ]

1:00 p.m.

9:00 a.m.

2:00 p.m.

9:00 a.m.

MONDAY, JUNE 13

THURSDAY, JUNE 30 1:00 p.m.

How to Stay out of Trouble with FREC [ South ]

Advanced registration is requested. See event calendar at: myrasm.com/calendar

CALENDAR KEY [ South ] 2320 Cattlemen Road, Sarasota, FL 34232 [ Hybrid ] Take class online or at RASM South [ Online ] Class is only offered through webinar

UPCOMING CLASSES UPCOMING CLASSES

ICE: JUMPSTART YOUR REAL ESTATE CAREER

Learn more at myrasm.com/calendar to register.

BOOST: RUNNING YOUR BUSINESS AS A BUSINESS Wednesday, May 4

9:00 a.m. - noon

[ Hybrid ]

Class 1 of this new agent program (BOOST) is designed to help you get your business started in order to make you successful right from the start. Learn tax strategies, how to decide to list your business as a sole proprietorship, time management skills, creating business plans, and much more. Members Free.

9:00 a.m. - noon

1:00 p.m. - 5:00 p.m.

[ Hybrid ]

Welcome to real estate Boot Camp! This course is great for the newly licensed agent to jump start their career as well as getting long time licensees out of the rut they often fall into. Develop a business plan that will guide you through the next 90 days to 12 months.

Members $15. 4 CE HRS.

BOOST: MARKETING YOURSELF AND OPEN HOUSES Wednesday, May 18

9:00 a.m. - noon

[ Hybrid ]

Module 3 of BOOST prepares you for hosting an effective open house, including farming techniques and social media advertising to get buyers in the door.

NEW MEMBER ORIENTATION Monday, May 9

Friday, May 13

[ Hybrid ]

This New Member Orientation session is REQUIRED for new REALTOR® members and serves as an introduction to the REALTOR® Association of Sarasota and Manatee.

This 3-hour class covers key membership benefits and useful resources! Topics include: Membership Responsibilities, Membership Marks Usage, Fair Housing & Antitrust, MLS Rules & Regulations, Association Services, and more. New Member Orientation must be completed within 90 days of joining RASM. Members Free.

Members Free.

NAR DESIGNATION: GREEN DESIGNATION Mon., May 23 - Tues., May 24 9:00 a.m. - 5:00 p.m. [ Hybrid ]

Green Designation is a two-day class. In this class, you will learn about resource-efficient homes and representing buyers and sellers of resource-efficient homes. This class will allow you to adapt core real estate skills to build business success in this niche market. Members $60. 7 CE HRS.

BOOST: THE ART OF COMPS Wednesday, May 11

9:00 a.m.- noon

[ Hybrid ]

Developing a Comparative Market Analysis for your seller or buyer can be tricky. In Class 2 of BOOST, you will learn how to utilize the tools available to you so you can prepare an accurate price for your listings.

CMAs are NOT appraisals! Members Free.

Wednesday, May 25

9:00 - noon

[ Hybrid ]

Class 4 of BOOST will introduce you to CRMs, providing you with information you need to decide which style is best for you, such as CRM only or lead generation tools and add-ons. You’ll learn what key features to look for when you consider a CRM. Members Free.

CORE LAW Thursday, May 12

BOOST: BUILDING YOUR CRM

1:00 - 4:00 p.m.

[ South ]

Core Law fulfills the 3 HR CE requirement for license renewal. This course covers updates to the law and reviews common legal issues. Members $10. 3 CE HRS.

CODE OF ETHICS Thursday, May 26

9:00 - noon

[ South ]

This class meets the NAR mandated requirement for completion of a Code of Ethics class and fulfills the FREC State requirement. Members $10. 3 CE HRS. [ 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 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.

ADDITIONAL DESIGNATION & CERTIFICATION COURSES FOR 2022: (Locations, dates, and times subject to change.)

MAY 23 & 24 Green Designation [ Hybrid ]

MLS BASIC TBD

JUNE 1 & 2 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.

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 and regulations to ensure that all users have access to the best data possible.

2:30 – 3:45 p.m.

8:00 a.m. GRI 301 [ South ]

JUNE 27 & 28 8:00 a.m. GRI 302 [ South ]

JULY 12 JULY 13 CIPS: Transaction Tools [ Hybrid ]

JULY 18 CIPS: Asia / Pacific [ Hybrid ]

JULY 20 CIPS: Europe [ Hybrid ]

JULY 21 CIPS: Americas [ Hybrid ]

AUGUST 1 & 2

MLS ADDING & EDITING LISTINGS TBD

JUNE 21 & 22

CIPS: Local Markets [ Hybrid ]

MLS COMPLIANCE 101 TBD

ABR: Accredited Buyers Representative [ Hybrid ]

8:00 a.m. GRI 101 [ South ]

[ Online ]

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

AUGUST 15 & 16 8:00 a.m. GRI 102 [ South ]

AUGUST 29 & 30 8:00 a.m. GRI 103 [ South ]

OCTOBER 3 & 4 E-Pro [ Hybrid ]

DECEMBER 6 SFR: Short Sales and Foreclosure Resource [ Hybrid ]

32 | ELEVATE [ MAY 2022 ]

Reach Further

TM

and Soar to New Heights.

RASM’s programs, services and resources will take you there.

Education + Networking + Advocacy Professionalism + Resources myRASM.com | 33

MEMBERSHIP NEWS

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

NEW DESIGNATED REALTORS®

Gregory D. Brock, Gulf Sands Realty, LLC Stephen E. Downes, Lionstone Real Estate Joelene Fischer, Sunburst Real Estate Group Teresa C. Jackson, Jaxsun Properties LLC Elena Krivtsova, Mango Realty Group Don Gerard Pingaro, Avenue Sunshine Real Estate Don Gerard Pingaro, Osipov Group Real Estate Sharon L. Straw, Sharon Straw LLC Raymond B. Uzzi, Meadows Realty Group Inc.

NEW REALTORS® Victoria Inness Ackerman, Bright Realty Sarah A. Allbee, RE/MAX Alliance Group Dianne R. Altieri, Keller Williams Classic Group Robert Richard Arakel, Dalton Wade Inc Elia Junior Aumua, Keller Williams Classic Group Jesus Avendano Antonio, Coldwell Banker Realty Jason M. Baker, RE/MAX Platinum Realty Kristin J. Baker, Coldwell Banker Realty Wendy Banta, Leslie Wells Realty, Inc. Gunnar Barcomb, W.I.T. Realty LLC Deborah Ann Barrett, Keller Williams Realty Select Brandon Baserva, Florida Attorney Realty Inc Louise Beckwith, Berkshire Hathaway HomeServices Florida Realty Jessica Nichole Bellin, Town & Country Properties of FL Alyssa Bernard, Keller Williams On The Water Andrea S. Birge, Matthew Guthrie and Associates Realty LLC Sasha B. Blanco Martinez, EXP Realty LLC James Bohon, Coastal Luxury Partners, Inc. Sabrina Marie Bosarge, Keller Williams Classic Group Victoria Holt Bouziane, Sato Real Estate Inc. Keith Bozeman, Preferred Shore Leslie Capozzi, Michael Saunders & Company Marjorie Cristina Carrandi, Living Vogue LLC Michael Desidero Cella, Keller Williams Realty Select Douglas Armando Chirinos, Keller Williams Island Life Re Courtney Claxton, Florida SunCoast Real Estate Anna Clayton, Coldwell Banker Realty Kira Cooper, Exit King Realty Sarah Anna Cristea, Keller Williams On The Water Lawrence Vincent Dambrosio, Baron Holdings Real Estate LLC John Austin Davis, Keller Williams On The Water Lisa Maureen Davis, Amerivest Realty Audra Ann DeRosa, HomeRiver Group Debra Drown, Coastal Luxury Partners, Inc. Bianca Echtler, Pineywoods Realty LLC Jeanne Lynn Egan, MavRealty Marla Carol Ellery, Bright Realty Ana Veronica Fernandez, Keller Williams Island Life Re Ryan Finicle, KW Suncoast 34 | ELEVATE [ MAY 2022 ]

Kelly Ann Fleming, Dalton Wade Inc Thomas Folkman, Bright Realty Angela Nichols Fonder, Keller Williams Island Life Re Dimitry Foox, Keller Williams On The Water Anna Karina Fuentes, Living Vogue LLC James Michael Gammello, William Raveis Real Estate McKenna R. Garner, Keller Williams On The Water Candy Genot, Bright Realty Robert Gilpin, Keller Williams Classic Group Diana Goldner, Alliance Group Limited Maxim Gorenyuk, London Foster Realty McKenzie Gorskey, Irongate Realty Inc Valerie Nicole Green, Premier Sothebys Intl Realty Amanda Greene, RE/MAX Platinum Realty Stephanie Marie Guevara, Poe & Associates Realty, LLC Kurt Henson, EXP Realty LLC Charles Hess, Barrett Realty, Inc. Michaela Hinterstoisser, EXP Realty LLC Cynthia Ann Hoffmann, Premier Properties of SRQ LLC Luke Holcomb, Premier Sothebys Intl Realty Betty J. Hon, Homes For Sale Realty Intl Zackary Scott Horton, Coldwell Banker Realty Chelsea Jack, Keller Williams Realty Select Drake Jenkins, Trend Realty Melissa Jernigan, Exit King Realty Eric John Johnson, Keller Williams Realty Select Jeffrey Jordan, Michael Saunders & Company Kenneth Jose, Florida Homes Realty & Mtg LLC Kimberlyn Nanetta Kelley, Keller Williams On The Water Ewa Teresa Kolakowski, KW Suncoast David Krotenko, Zachos Realty Kari Kushto, Living Vogue LLC Lissa Laakso, Help-U-Sell Gulf Coast Michael Laconca, Florida Life Team LLC Vanessa Andrea Lamb, Coldwell Banker Realty Molly Lavery, Tim Lester Internat’l Realty John Richard Lyons, Keller Williams Classic Group Chunlai Ma, EXP Realty LLC David Abraham Madway, Keller Williams On The Water Rency Tatiana Marques Becerra, EXP Realty LLC Robert Charles Massengill, RE/MAX Alliance Group April Mendez, Jennings on the Shore LLC Carol Anne Mennona, Exit King Realty Christina Mestidio, EXP Realty LLC William Randall Miller, Horizon Realty Intl.

Joanne D. Mills, Keller Williams Island Life Re Cristo Mochi, Showtime Realty Benjamin Moricz, Keller Williams On The Water Maria Victoria Morillo Marquez, Living Vogue LLC Trista Lynn Murphy, Florida SunCoast Real Estate Tereza Nedvedova, Coldwell Banker Realty Wendy Anderson Norman, Swilley & Associates Realty Jennifer Oliver, Michael Saunders & Company Xiaoqin Oram, Home Realty & Management LLC Frank Joseph Padur, Coldwell Banker Realty

[ Continued on page 35 ]

MEMBERSHIP NEWS Agita Papule, Coldwell Banker Realty Zachary H. Payne, Bright Realty Felix A. Pereyra, EXP Realty LLC Jason Phillipps, EXP Realty LLC Luis Angel Piamba, Keller Williams Realty Select Felicia Ashley Preston, 54 Realty LLC Andrew Rodger Quinlan, Fine Properties Diana P. Raymond, Coldwell Banker Realty Khory Richardson, Coldwell Banker Realty Edith L. Richman, Dalton Wade Inc Trina Presha Rozier, Leslie Wells Realty, Inc. Jennifer Anne Rudy, Keller Williams On The Water Ann Marie Rue, Coldwell Banker Realty Kendel Leigh Sailer, Starz Real Estate, LLC Amy Hirsh Schwartz, Bright Realty Eric Scott Segler, Keller Williams On The Water Julie Lynne Shaw, Berkshire Hathaway HomeService Steven Richard Shurte, Starlink Realty Inc Amber Nicole Smith, Anna Maria Island Beaches RE Tracy L. Sullentrup, My Florida Broker Jeffrey Swanson, Fine Properties Amber Nicole Swimline, Coldwell Banker Realty Christine Laube Szanti, EXP Realty LLC Paul Christopher Terminello, M&M Property Management Group Tanya Renee Tow, Harry Robbins Assoc Inc Koniko Sophia Trakis, Mangrove Bay Realty LLC Linda Diem Tran, Horizon Realty International

Joan Nichols Trice, Bright Realty Emily Milagros Valdes Biggs, Wagner Realty Sherrall Van Leeuwen, Premier Sothebys Intl Realty Kirsten S. VanDonkelaar, Atlantic Luxury Properties Inc. Svetlana Volkova, Keller Williams Realty Select Kimberly P. Walker, Michael Saunders & Company Brian Jason Wilson, Starz Real Estate, LLC Kayley Elizabeth Wren, Preferred Shore

NEW BUSINESS PARTNERS BEST INSURANCE GROUP 13600 Icot Blvd. / Clearwater, Florida 33760 Representative: Karina Valle Email: Karina.healthinsurance@gmail.com Whether you need individual health insurance, small business health insurance, a Medicare Supplement plan, dental, or extra coverage, our trained agents will listen carefully to your needs.

CUSTOM CLIMATE CONCEPTS 4363 Independence CT. / Sarasota, Florida 34234 Representative: David Zuspann Email: dzuspann@customclimateconcepts.com We are a multi-generation, family HVAC company. Our job is to create and maintain the perfect indoor climate for you and for all of our customers.

GRIFFIN WASTE SERVICES 2452 19th St / Sarasota, Florida 34234 Representative: Lynn Cook Email: lynn@griffinwaste.com Give us a call to experience friendly and helpful assistance, on-time deliveries. Our conveniently sized, four-wheel-drive trucks allow us to place our dumpsters almost anywhere.

HEROES WELCOME HOME 8235 Blaikie Ct / Sarasota, Florida 34240 Representative: Renee Marquiss Email: Heroeswelcomehome@gmail.com Heroes Welcome Home (HWH) is a Florida, 501(c)(3), volunteer driven, nonprofit organization serving Veterans of all branches of the U.S. Military.

INTERCOASTAL CUSTOMS LLC 121 Matisse Cir W / Nokomis, Florida 34275 Representative: David Wiedwald Email: dwiedwald322@gmail.com Intercoastal Customs is your choice for quality. We prioritize customer satisfaction to establish long term relationships.

KERKERING BARBERIO AND CO PA 1990 Main St Suite 801 / Sarasota, Florida 34236 Representative: Larry Geimer Email: Lgeimer@KBGRP.com Founded in 1972, Kerkering, Barberio & Co., Certified Public Accountants, is Sarasota’s premier CPA firm.

PINPOINT HOME INSPECTIONS LLC 3901 Gatewood Drive / Sarasota, Florida 34232 Representative: Brandon Mills Email: pinpointhomellc@gmail.com Our inspectors are state licensed professionals with over 20 years of industry experience. We offer outstanding customer service and we are always available by phone or email.

SCOTT SIKORA PHOTOGRAPHY 12017 Cranston Way / Lakewood Ranch, Florida 34211 Representative: Scott Sikora Email: scottsikoraphoto@gmail.com I am a photographer that specializes in fine art destination wedding photography, but love to shoot family photography, portraits, maternity, landscapes, and commercial photography.

SKYWAY NOTARY, LLC 7184 50th Ave Cir E / Palmetto, Florida 34221 Representative: Kimberly Herrin Email: info@skywaynotary.com At Skyway Notary, our main priority is to provide you with a highly qualified notary to facilitate your signing needs.

SUNWAYS SENIOR LIVING CONCIERGE 1738 Siesta Dr / Sarasota, Florida 34239 Representative: Chrisi Adamson Email: Chrisi@sunwaysseniorliving.com Sunways Senior Living Concierge is here to serve you and your family. We are here for you every step of the way.

WOMEN’S COUNCIL OF REALTORS® SARASOTA P.O. Box 3621 / Sarasota, Florida 34230 Representative: Julianna Burns Email: sarasotawcr@gmail.com

At Women’s Council, business leaders truly are made here. The elite network’s proven success is demonstrated over 80+ years by its supersized participation in the real estate industry, higher income levels, referrals, and business growth. • myRASM.com | 35

2022 ANNUAL SPONSORS PLATINUM

GOLD

SILVER

BRONZE Battaglia Law, PLLC 36 | ELEVATE Bert [ MAYRodgers 2022 ] Schools of Real Estate

Florida Gulf Coast Inspection Services, LLC Peace of Mind Home Inspections

RASM Members Now With Liliana Abdeljelik, Fine Properties Richard Mark Adkins, Star Bay Realty Corp.

Kerre Lee Allman, Marcus & Company Realty Therese Marie Anderson, Dalton Wade Inc Asendorf, J. Richard, Premier Properties of SRQ LLC Tammy S. Barton, EXP Realty LLC Paige Nicole Bartz, EXP Realty LLC Jacob W. Benedict, Berkshire Hathaway HomeService Paul Bertone, Star Bay Realty Corp.

Olivia S. Bintz, Keller Williams On The Water Damon Bishop, EXP Realty LLC Marla S. Blair Sarlan, Sarasota Global Realty William F. Blume, Premier Sothebys Intl Realty Gregory D. Brock, Gulf Sands Realty, LLC Susan A. Brown, Premier Properties of SRQ LLC Jason L. Burns, HomeSmart William H. Burns, RE/MAX Platinum Realty Raymond Lee Butterfield, LPT Realty LLC Angela Marie Byers, Keller Williams Realty Select Gabrielle Renee Channell, Channell Real Estate Jordan Culler, Compass Florida, LLC. Nisan Daley, EXP Realty LLC Brynna Davis, Peace River Partners Jeffrey Davis, Coldwell Banker Realty LaTiffany Dismuke, Realty One Group Skyline Latarrika Darcel Dowling, LPT Realty LLC Stephen E. Downes, Lionstone Real Estate Danielle Renee Dustman, EXP Realty LLC Jevenson Edmond, RE/MAX Realty Team Tracey S. Edwards, Keller Williams Classic Group Wendy Egan, Coldwell Banker Realty Tina Ellis, Preferred Shore Kaia Emerald, Living Vogue LLC Katherine Enis, Fine Properties Debra Falder, Platinum Real Estate Bruce Robert Famiglio, Premier Properties of SRQ LLC Jariane Diore Friedman, Nest Fl LLC Lisa Lynn Gaines, Michael Saunders & Company Katalinda Jane Garza, White Sands Realty Group FL Alison Gilroy, Keller Williams Realty Select Joe Glasgow, Platinum Real Estate Frank Golio Jr. PLLC, Sarasota Realty Center LLC Mariana Gonzalez Paz, Living Vogue LLC Ilana Gordon, Preferred Shore Michael Griffin, Preferred Shore Nahum Guerrero, Better Homes & Gardens Real Estate Atchley Properties Stephanie Marie Guevara, Poe & Associates Realty, LLC Shana Lee Hamel, Compass Florida, LLC. Joseph Harris, Premier Sothebys Intl Realty Michael Harshman, Wagner Realty Maximilian William Hennessy, Preferred Shore Debbie A. Henninger, EXP Realty LLC Kurt Henson, EXP Realty LLC Rebecca A. Howard, Keller Williams Classic Group Steven Howard, Meadows Realty Group Inc Robert Johnson, Realty One Group Sunshine Angela Fox Jones, ROVI

Maria Kagin,Worth Clark Realty Sattie Kazas, Fine Properties Kevin Francis Kelly, Keller Williams Realty Select Taylor Lynn Kelly, One World Realty of Sarasota Marie Ann Kinard, Avenue Sunshine Real Estate Nathaniel Gene Kirby, Compass Florida, LLC Elena Krivtsova, Mango Realty Group Randy Leroy Lamb, Premier Properties of SRQ LLC Katy Kae Langkamp, Premier Properties of SRQ LLC Tom Leibold, Mapp Realty & Investment Co Norann Radu Manos, Bright Realty Brandt Nathan Mathers, Premier Sothebys Intl. Realty Cheri Ann Mazan Castro, Keller Williams On The Water Marilyn M. McCain, Worth Clark Realty Beverly McCubbins, Coldwell Banker Realty Kimberly A. Metz, Boyd Realty Bruce A. Meyer PA, Compass Florida, LLC. M. Jenine Meyer, Compass Florida, LLC. Tonya Miller-Turczyn, EXP Realty LLC Bogdan Osipov, Osipov Group Real Estate Nicole Pies, Preferred Shore Haylee Rae Plicinski, Preferred Shore Charles Popovic, Offerpad Brokerage Carri Radford, Coldwell Banker Realty Deborah Ragan, Marcus & Company Realty Roger Reed, Nexthome Casa Bella Elite Sarah Reedy, Lionstone Real Estate Shannon Rogers PA, Preferred Shore Jorge L. Rosado Sotomayor, Worth Clark Realty Jose Rosado, Florida Homes Realty & Mtg LLC Marisol Rosario,Veterans Realty Inc. Amy Lynne Salzone, RE/MAX Anchor Realty Angel Xavier Santana, EXP Realty LLC Joseph Savinsky, RE/MAX Alliance Group Eric Scott Segler, Keller Williams On The Water Melissa Sherk, Preferred Shore Stacey Marie Shinn, Coldwell Banker Realty Mary C. Skorupa, Fine Properties Christina Snyder, Ascendia Real Estate Brian C. Stone, Worth Clark Realty Sharon L. Straw, Sharon Straw LLC Emma Kai Swier, Apple Real Estate LLC Wanda Thoreson, Keller Williams On The Water James M. Todd, Bright Realty Briana Tokar, Showtime Realty Charles Totonis, Premier Sothebys Intl Realty Alex Trevino, Premier Properties of SRQ LLC Norma K. VanDorne, Premier Properties of SRQ LLC Casey John Vernoy, Preferred Shore Ruslan Volosevych, Call It Closed Intl Realty Tony Wachira, EXP Realty LLC Donald A. Wagner, Castle on the Key, LLC William A. Walsh, Marcus & Company Realty Tona West, Keller Williams On The Water Shanon Lynn Wilson, Sarasota Bay Realty INC Shumin Yu, U-Home Realty LLC •

myRASM.com | 37

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

MISSION Empower and engage our REALTOR® community by delivering essential services, resources, education, and experiences that elevate member success and professionalism, while advocating for REALTOR® initiatives and private property rights.

VISION 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.

2 14 19 19 350+ 8,300+

counties employees committees directors

affiliates

realtor® members

FLORIDA REALTORS® PAC (2021)

2,754 27 $265,762

members invested in florida realtors pac

major investors

44

#

invested into rpac by rasm members in 2021

largest local association in united states

THANK YOU TO OUR 2022 LEADERSHIP TEAM

7

#

president

Brian Tresidder

Tony Barrett

president-elect

Vice President

Debi Reynolds Treasurer

in florida

Alex Krumm

past president

50,825

$

raised for the foundation in 2021* *As of December 31, 2021

20,000 $36,580 $

RASM SOUTH

TEMPORARY MEMBER CENTER

2320 Cattlemen Road Sarasota, FL 34232

417 12th St. W, Suite 106 Bradenton, FL 34205

in scholarships awarded in 2021 donated to local charities in 2021*

RASM NORTH

UNDER RENOVATION! Bradenton, FL

www.myrasm.com • (941) 952-3400

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

Tony Veldkamp

largest local association

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

www.MyRASM.com

EXPANDED REPORTS Sarasota and Manatee Counties

March 2022 Reach Further With The Market.

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

Monthly Distressed Market - March 2022 Single-Family Homes Sarasota County

Closed Sales

March 2022

March 2021

Percent Change Year-over-Year

855

1,165

-26.6%

$487,500

$380,000

28.3%

3

4

-25.0%

$516,000

$253,800

103.3%

1

0

N/A

$562,500

(No Sales)

N/A

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

2018

2019

Traditional

2020

Foreclosure/REO

2021

Short Sale

100%

90%

Closed Sales

80% 70% 60% 50% 40% 30% 20% 10% 0%

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

$700K

Median Sale Price

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

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

2018

40 | ELEVATE [ MAY 2022 ]

2019

2020

2021

̺ ̵ Ǥ ͳͷ Ǥ ǡ ʹͲǡ ʹͲʹʹǤ ǡ ͳͻǡ ʹͲʹʹǤ

Monthly Distressed Market - March 2022 Single-Family Homes Manatee County

Closed Sales

March 2022

March 2021

Percent Change Year-over-Year

724

901

-19.6%

$525,000

$397,619

32.0%

0

4

-100.0%

(No Sales)

$220,000

N/A

0

2

-100.0%

(No Sales)

$389,250

N/A

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

2018

2019

Traditional

2020

Foreclosure/REO

2021

Short Sale

100%

90%

Closed Sales

80% 70% 60% 50% 40% 30% 20% 10% 0%

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

$700K

Median Sale Price

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

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

2018

2019

2020

2021

myRASM.com | 41

̺ ̵ Ǥ ͳͷ Ǥ ǡ ʹͲǡ ʹͲʹʹǤ ǡ ͳͻǡ ʹͲʹʹǤ

Monthly Distressed Market - March 2022 Townhouses and Condos Sarasota County

Closed Sales

March 2022

March 2021

Percent Change Year-over-Year

468

735

-36.3%

$370,000

$290,000

27.6%

1

2

-50.0%

$251,000

$139,250

80.3%

0

1

-100.0%

(No Sales)

$142,500

N/A

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

2018

2019

Traditional

2020

Foreclosure/REO

2021

Short Sale

100%

90%

Closed Sales

80% 70% 60% 50% 40% 30% 20% 10% 0%

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

$1200K

Median Sale Price

$1000K

$800K

$600K

$400K

$200K

$0K

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

2018

42 | ELEVATE [ MAY 2022 ]

2019

2020

2021

̺ ̵ Ǥ ͳͷ Ǥ ǡ ʹͲǡ ʹͲʹʹǤ ǡ ͳͻǡ ʹͲʹʹǤ

Monthly Distressed Market - March 2022 Townhouses and Condos Manatee County

Closed Sales

March 2022

March 2021

Percent Change Year-over-Year

297

496

-40.1%

$321,000

$245,000

31.0%

1

0

N/A

$108,575

(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

2018

2019

Traditional

2020

Foreclosure/REO

2021

Short Sale

100%

90%

Closed Sales

80% 70% 60% 50% 40% 30% 20% 10% 0%

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

$1000K $900K

Median Sale Price

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

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M

2018

2019

2020

2021

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