ELEVATE Magazine - RASM - November 2020 Issue

November 2020

How to Survive and Thrive in a Seller’s Market 6

Wait a Minute: That Was My Buyer & Sale!

14

Tips for Successful Repair Projects 22

Challenges Involved When Working with International Clients 27

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November 2020. ©Michael Saunders & Company, Licensed Real Estate Broker

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Manasota Key

Contents NOVEMBER 2020

6

COVER STORY

HOW TO SURVIVE AND THRIVE IN A SELLER’S MARKET

Despite struggling through a global pandemic, existing-home sales continued to climb in September, both locally and nation-wide, marking three consecutive months of positive sales gains. In fact, the current housing market is booming, due in part to pent up demand and low mortgage rates. With inventory levels still low and demand high, many are considering this to be a seller’s market – a welcomed silver lining for 2020 and a boost for the real estate industry, and our national economy as we get close to wrapping up this unprecedented year.

14

Procuring Cause

As the real estate industry evolves, transactions get more complicated.

The strong market, along with the demands of buyers and sellers, as well as other sales professionals, can add to this complexity.

4 | ELEVATE [ NOVEMBER 2020 ]

22

Successful Repair Projects

For every building problem, there is an expert appropriate to investigate the issue and specify the appropriate repairs. Finding the right experts for your problem and following the guidelines can make all the difference in your end result.

14

Realtor® Attorney Joint Committee

16 17 22

Government Affairs Market Analysis Commercial Real Estate Alliance

26

Young Professionals Network

27

Global Business Council

29

Neighborhood Spotlight

30 33

Calendar of Events

34

Professional Development Membership News

27

International Clients

Helping our buyers to buy a property is more or less our daily routine as an agent. Yet it is a completely different situation each time you meet an international buyer, and there can easily be major misunderstandings.

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.

2020 ASSOCIATION OFFICERS: President: David Clapp, RE/MAX Alliance Group President-Elect: Adam Chicoine, RE/MAX Alliance Group Treasurer: Georgina Clamage, Michael Saunders & Company Secretary: Alex Krumm, NextHome Excellence Immediate Past President: Amy Worth, RE/MAX Platinum Realty 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 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. 2020 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.

2021 Membership Renewal By: Jeff Arakelian, RASM CEO

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or many, this unprecedented 2020 can’t end soon enough.

January 1 typically brings hope for something new, fresh, or a refresh. It’s also that time of renewal of your Realtor® membership for the new year.

Despite COVID-19, our unchanged membership proposition, is to help you to Reach Further™ to be more productive, profitable, and professional. Your membership provides you access to a wide array of member benefits, tools, market information, educational opportunities, and discount programs. What has changed drastically, is how we will deliver on that promise in the coming year.

Our membership features will still include:

From the National Association of REALTORS®; programs like the REALTOR Benefits® Program, federal-level government advocacy efforts, Code of Ethics, the REALTOR® Brand, REALTOR® Magazine, and Public Awareness Campaigns like the That’s Who We R® and Look For The R® national advertising campaigns.

From Florida REALTORS®; membership programs like the Legal Hotline, Technology Hotline, Form Simplicity, Florida REALTOR® Magazine, and advocacy for state-wide legislative issues and initiatives.

And from RASM; professional development and continuing education classes, specialty groups, lockbox and key service, REALTOR® store, monthly market statistics, ELEVATE Magazine, Business Partner Directory, local government advocacy, networking, RE Focus Live events, and an annual conference.

Membership renewal invoices will be available in your MY RASM PORTAL starting on November 2. Payment will be due on December 15 and after January 15, a $50 late fee will be added.

For further details, reach out to our Membership Department at membership@myrasm.com or (941) 952-3400 with any questions.

Thank you for your past membership, and we look forward to the opportunity to serve you in 2021. •

myRASM.com | 5

COVER STORY

How to Survive and Thrive in a Seller’s Market

D

espite struggling through a global pandemic, existing-home sales continued to climb in September, both locally and nation-wide, marking three consecutive months of positive sales gains. In fact, the current housing market is booming, due in part to pent up demand and low mortgage rates. With inventory levels still low and demand high, many are considering this to be a seller’s market – a welcomed silver lining for 2020 and a boost for the real estate industry, and our national economy as we get close to wrapping up this unprecedented year.

But what exactly is a seller’s market? The definition is simple: a seller’s market occurs when demand exceeds supply, and/or there are more buyers seeking to purchase homes than there are homes available.

This situation can often lead to multiple buyers interested in a single property, resulting in possible bidding wars. So, while the definition is simple, the reality of navigating a seller’s market can be tricky – for both the buyer and the seller alike.

SERVING A BUYER IN A SELLER’S MARKET In any type of market, assisting your client in their search for their perfect home can be challenging.

Navigating the ups and downs of a seller’s market means understanding how to best serve your seller and your buyer. One will always have the advantage over the other, and you need to be prepared to service both types of clients with the best professional guidance.

Success in this challenging market means having a few tips and tricks up your sleeve:

6 | ELEVATE [ NOVEMBER 2020 ]

BE READY Make sure the client is ready to drop everything to view a home when it hits the market and be ready to make a quick decision. House-hunting must be a priority in a competitive seller’s market, or your client will always be disappointed that someone else beat them to that perfect house.

“As a buyer, you need to be fully prepared to take action with confidence,” said Robert Milligan, Broker/President, Preferred SHORE. “Have your preapproval and or proof of funds ready and make the terms as favorable as possible. Consider shortening the inspection period contingency and eliminating the financing contingency altogether if you have the wherewithal. Increase the size of the escrow deposit to demonstrate strength and intention to perform. Sellers will often favor the strongest terms over the highest price.”

Buying a home can be overwhelming, and a buyer might think they are ready, but not realize that major pieces to the puzzle are missing.

“Educate your buyer thoroughly on the market and the inventory,” said Candy Swick, President/Broker Realtor®, Candy Swick & Company. “The market currently only has about 2 months of inventory and that means that the minute an outstanding home comes on the market all of the potential buyers are ready to ‘pounce’ on it NOW and not in a day or two.”

PRE-QUALIFY In a seller’s market, it’s important to show the buyer that you mean business. Make certain the client comes to the table pre-qualified, not only with a pre-

qualified loan but with all the paperwork that supports the proof of funds, such as an approval letter from the lender.

“Buyers need to be clear that a seller’s market will not always allow them time to ‘think about it,’” said Laura Benson, Broker/Manager, Michael Saunders & Company.

“They MUST be pre-qualified. I have often thought it was a good idea for our customers to understand the contract BEFORE they are writing one so that questions about process and responsibilities can be clarified well in advance of the actual contract process. This helps save precious time when the market is hot,” she added.

DON’T BE TOO PICKY Encourage your clients to limit their “must haves” to the essentials and be willing to sacrifice items on their wish lists that aren’t necessary to daily life (like pools, a specific paint color, larger garage size, etc.).

Waiving certain contingencies could help them close the deal.

DON’T PLAY HARDBALL This is not the time to lowball on price. Your client needs to be able to meet the asking price or above, while still staying within budget. If the client is not able to bid aggressively to some extent, then this might not be the time for them to buy.1

WIDEN THE REACH Encourage your client to consider homes outside their ideal neighborhoods and consider homes that may need some remodeling or renovations. Buyers may not be able to afford their dream home in their dream location, but maybe you can find them an option that meets both their budget and lifestyle in a neighborhood they hadn’t considered, especially if they work remotely.

You will ultimately have more luck and less competition with more options to choose from.

SERVING A SELLER IN A SELLER’S MARKET BE READY During a more balanced market situation, sellers might receive fewer offers coming in on any given listing, so sellers would need to prepare for a longer wait. However, with low inventories, sellers are now quickly finding themselves with multiple offers from the pool of buyers. Things will move quickly on both sides of the offer. This means that sellers will have to decide which factors are most appealing to them - a quick closing, waived contingencies, increased offer amount, etc. Narrowing down your most pressing needs prior to listing your home will make these decisions easy.2

LISTING PRICE AND MANAGING EXPECTATIONS A seller’s market might be a great time for the seller, but it can escalate to unrealistic expectations regarding asking price and days on the market. Helping

seller’s price their homes correctly, will be crucial for attracting buyers in a challenging market. Agents need to have a deep understanding of their market and research prices regularly.2 “Even in a market moving at this speed, it’s still possible to overprice so we spend a lot of time getting agreements up-front about adjusting based on very immediate feedback – number of showings, offers, etc.

Sellers need a deep dive education about the benefits and drawbacks of the various forms of contracts they may be seeing. They also need to know up-front their options about multiple offer opportunities and how backup offers work. These discussions at the front end go a long way towards making clearer decisions in the ‘heat of the moment,’” said Benson.

“If you are listing a property for $500,000 or $1,995,000 or anywhere in between, the multiple listing system (MLS) shows how many similar homes are on the market at the time of listing, how many are pending and how many have sold and closed within the last 6 months,” said Swick. “The researched data is now in front of the seller and the listing agent. The marketplace decides what is real -- not the listing agent and not the seller. The seller has the right to say no thank you, counter, or say yes. The research says that a home, at this current time, that is priced appropriately will mostly likely sell within a certain range of days.”

NAVIGATING A BIDDING WAR Juggling multiple offers all at once can be very overwhelming, especially if there are contingencies, and each offer must be equally presented.

“It is VITAL that everyone involved in a multiple offer situation know their offer was fairly presented and considered,” said Benson. “Every brokerage should have a process for handling multiple offers and if a seller has authorized the disclosure of multiple offers, this process should be shared with everyone. Florida REALTORS® has a great disclosure to the contract about steps for multiple offers for buyers and sellers and this is a great resource in the absence of a broker policy.” [ Continued on page 8 ] myRASM.com | 7

COVER STORY CONTINUED Choosing the right offer for your client can be stressful, and a Realtor® needs to be quick on their feet and ready for their client.

“You can’t win a race in slow motion, so prepare in advance as much as possible to be strong and take action,” said Milligan. “If you have the wherewithal, have your client put the entire purchase price in escrow. It’s the ultimate MIC drop that will win you deals,” he added.

“The advice I give to my agents is talk to the listing agent and give them background on your buyer. For example, a couple is making a competing offer and wants to do 95% financing. The couple can put down 20% or more but wishes to keep their cash to do some remodeling or add a pool. In this example, the couple had no debt because they were savers. Those details are important for the listing agent to understand. There are many details that are not always on the contract that might impact the seller’s decision,” said Swick.

In addition, always remember to be respectful to your fellow Realtor®. When multiple offers are presented at the same time, it can get hectic and you don’t want your excitement for the sale to come off as being too aggressive.

COMPETING AGAINST NEW HOME SALES New is nice, fresh, clean and doesn’t require repairs. There are many pros to purchasing new construction that might cause competition for a reseller even in today’s market. However, new homes can often mean waiting for construction to complete, or being located outside of a desired school district, or lack of developed landscaping. Each buyer will have unique needs and wants.

“When competing against new construction, get deferred maintenance done,” said Benson. “Stage and refresh what you can within your budget. There is a demand for homes ready now, but buyers are still looking for the most move-in ready.”

A home purchase is the most expensive move most people will make. So, helping your client get the most out of their budget is key to finding the right home, whether that means brand new construction or “better than new.”

“The best thing a seller and listing agent of a resale home can do to appeal to buyers who are also considering new construction is communicate how difficult and expensive it can be to move into a new home,” said Milligan. “You need to consider installing window treatments, building closets and spending months identifying imperfections to address with the builder who hopefully is attentive to your requests.

A newer resale or an upgraded older home that has already had all the third-party upgrades completed can be a great opportunity for a buyer to purchase ‘better than new’ with all the upgrades financed into the purchase rather than out of pocket.”

8 | ELEVATE [ NOVEMBER 2020 ]

TIPS FOR DEALING WITH LOW INVENTORY With low inventory in many areas, potential buyers can become frustrated, and they will need to rely on a proactive Realtor®. Often time a potential seller could be considering selling, but not list the property yet.

“Knock on doors. If you or your customer are trying to find off-market properties, there is no better way,” said Milligan.

Look through your database, past customers and neighborhoods that would meet your client’s needs.

“If you have a buyer who is certain on a type of home, location etc., don’t be afraid to ask owners if they are considering selling,” said Benson. “But please – do this ONLY if you actually have a buyer! This isn’t a prospecting tool but a way to produce a win-win for a buyer and seller. All past buyers are future sellers so stay in touch with your database.”

IMPACT OF COVID-19 The COVID-19 health crisis has changed the way we do business in some ways, but it certainly hasn’t slowed down the real estate industry in the Sarasota and Manatee market.

“Some sellers who would be making a decision to move are waiting to see what is going to happen with COVID-19, so they are sitting tight – hence adding to our limited inventory,” said Benson. “Some buyers are writing offers on multiple properties they haven’t seen in order to “hold” them until they can travel. However, ensuring that our customers are following CDC Guidelines is critical for the safety of all,” she said.

Depending on a client’s health risks and concerns, Realtors® are required to take extra precautions when needed. Those concerns need to be met on both the buyer and the seller’s side of the equation.

“COVID-19 navigation is just courtesy and kindness,” said Swick. “I talk with the buyers and explain that the sellers are at a far greater risk than the buyer. The buyer is just casually walking through a home. The seller has to concern themselves with the details of what the buyers might have touched. I explain that the buyers may clean their hands before we enter the home and then they are free to open a cabinet or door, but I can’t promise that the seller is virus free.”

Education, patience, timing, and preparation are all key favors that will help your clients survive and thrive in this highly competitive seller’s market. Encourage your buyers and sellers to be ready to make a move, and be as flexible as possible as you navigate the ebb and flow of a fast-paced real estate market. • SOURCES:

1 | https://magazine.realtor/for-brokers/network/article/2020/09/what-rising-home-pricesmean-for-your-clients

2 | www.floridarealtors.org/news-media/infographics/how-buy-sellers-market)

BUSINESS PARTNER SPOTLIGHT

Wallace, Welch & Willingham By: Janet Dunay Bognar​, Senior Personal Lines Advisor

T

he depth of experience Janet Bognar brings to W3 is extraordinary. For more than 40 years, she’s explained coverage options to clients with the ease and care of a skilled educator.

Janet previously owned Vestor Insurance Services and has been a 5 Star Auto/Home Insurance professional in the Sarasota area for nearly a decade.

A holder of the 220 Property & Casualty and 215

Life and Health Insurance licenses, she has earned the designations of CIIP (Certified Insurance Industry Professional) and PIAM (Professional Insurance in Account Management). She is a member of ABWA (American Business Women’s Association) and is vice president of the organization.

She’s a member of the Cove Communities’ Board of Directors and the Women’s Council of Realtors®, as well as a Business Partner for RASM. She enjoys time with her husband, Ron, as well as gardening, theatre, and craft shows.

Let Wallace Welch & Willingham protect your home, auto, and other assets! Visit www.jbognar@ w3ins.com for more information. •

myRASM.com | 9

PROFESSIONAL STANDARDS

Deceptive Information in MLS Database By: National Association of REALTORS® Interpretations of the Code of Ethics Case #2-19 (Adopted May, 2004. Revised May, 2017.)

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ealtor® R searched the MLS database of current listings on behalf of his client, Dr. Z, who had recently completed his residency and was returning home to take a position on the staff of the community hospital. Realtor® R’s search returned several listings that satisfied Dr. Z’s requirements, including a two-story residence listed with Realtor® B that showed, in the “Remarks” section, “Pay your mortgage with rent from the apartment upstairs.”

Realtor® R sent the listings he’d identified in an e-mail to Dr. Z. A day later, Realtor® R received a call from Dr. Z who told him there was something about Realtor® B’s listing that struck him as odd. “That house is in the neighborhood I grew up in,” said Dr. Z, “I also remember our neighbors having a problem with the Building Department when they added a kitchen on the second floor so their grandmother could have her own apartment.”

Realtor® R assured Dr. Z that he would make the necessary inquiries and get back to him promptly.

His call to the Building Department confirmed Dr. Z’s suspicion that the home was zoned single family.

Feeling embarrassed and misled by Realtor® B’s apparent misrepresentation, Realtor® R filed a complaint with the local association of Realtors® alleging misrepresentation on the part of Realtor® B

10 | ELEVATE [ NOVEMBER 2020 ]

for publishing inaccurate information in the MLS. At the hearing convened to consider Realtor® R’s complaint, Realtor® B acknowledged the seller had told him that the conversion had been made to code but without the necessary permits, and the apartment had never been rented. “I assumed the new owners could get a variance from the Building Department,” he said.

The Hearing Panel did not agree with Realtor® B’s defense or rationale and concluded that showing a single family home as having income-producing potential from an upstairs apartment which had never been rented was a misrepresentation that violated Article 2. • Published with the consent of the NATIONAL ASSOCIATION OF REALTORS®. Copyright NATIONAL ASSOCIATION OF REALTORS®-All Rights Reserved.

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

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REALTOR® ATTORNEY JOINT COMMITTEE

Wait a Minute: That Was My Buyer & Sale!

By: Michael Holland, CRB, Berkshire Hathaway HomeServices, Florida Realty

A

s the real estate industry evolves, transactions get more complicated. The strong market, along with the demands of buyers and sellers, as well as other sales professionals, can add to this complexity.

There are more ways to communicate with everyone involved in a transaction. One thing remains the same – the standard of compensation, also known as “procuring cause.”

LET’S BEGIN WITH A DEFINITION Real estate practitioners and our industry, start each day with the intent to cooperate with their competition – name another business where this happens!

Most properties are sold cooperatively through a Multiple Listing Service (MLS), with an offer of compensation to other participants. Listing brokers place an offer of compensation for these properties in the MLS; a competing broker procures a buyer to complete a successful real estate transaction, and a contract is formed.

Whether a specific broker is the procuring cause of a sale is determined on a case-by-case basis. Many factors may impact a determination of procuring cause, but no single factor determines the outcome.

When a dispute arises among Realtors®, procuring cause is determined by applying these factors (below) established by NAR to the matter in question.

A hearing panel of the local Association of Realtors®, is charged with analyzing the information in order to demonstrate that the efforts of a specific broker were responsible for the buyer’s decision to buy the property and resulted in a successful transaction without any break or interruption. This is probably the key factor in determining the validity of a claim.

Each arbitration hearing is unique, and all decisions are based on the facts presented by the parties and their witnesses. This means that prior cases have no impact on the outcome of your case.

CAN THIS MATTER BE ARBITRATED? The hearing panel will consider whether the issue qualifies to be decided through arbitration and if the correct parties are named. This is essential to ensure a fair outcome for all parties. Hearing panels are also asked to rule on questions of admissibility of specific evidence. Anything the hearing panel believes may help it reach a fair and equitable decision is admissible.

14 | ELEVATE [ NOVEMBER 2020 ]

ONGOING COMMUNICATION AND CONTACT? This is key - many disputes subject to arbitration hinge on the relationship (or lack thereof) between a broker and a prospective buyer. Panels will consider whether the broker made reasonable efforts to develop and maintain an ongoing relationship with the buyer.

In cases where two cooperating brokers have competing claims against a listing broker, panels will want to determine if the first cooperating broker actively maintained ongoing contact with the buyer or, alternatively, if the broker’s inactivity, or perceived inactivity, may have caused the buyer to reasonably conclude that the broker had lost interest in or disengaged from the transaction. This is commonly referred to as abandonment.

In other instances, a buyer, despite reasonable efforts by the broker to maintain ongoing contact, may seek assistance from another broker. The panel will want to consider why the buyer abandoned the first broker. In other instances, there may be no question that there was an ongoing relationship between the first broker and the buyer. The issue then becomes whether the broker’s conduct, or the broker’s failure to act when necessary caused the buyer to terminate the relationship. This is known as estrangement, and it can be caused by words or actions or even the lack of words or actions.

Panels will consider whether such conduct, or lack thereof, caused a break in the series of events leading to the transaction and whether the successful transaction was actually brought about through the initiation of a separate, subsequent series of events by the second cooperating broker. In addition, the procedures by which arbitration requests are received, hearings conducted and awards made must be in strict conformity with the law.

LOOK AT THE WHOLE ISSUE – NOT PART OF IT The person requesting the arbitration is required to prove his or her case. This means persuading the hearing panel, through testimony and evidence, that his or her position is the stronger one. This standard of proof is referred to as the preponderance of the evidence. One thing that is true when it comes to procuring cause no one consideration can pinpoint who or what the procuring cause of a successful transaction is. In these matters, it is important to consider all facts, separate from emotion; clearly documenting each transaction is vital in the event disputes arise. • This article is meant as a guide 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.

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GOVERNMENT AFFAIRS

Mark Your Calendar - Important Deadlines in the 4th Quarter By: Max Brandow, RASM Government Affairs Director

T

the fourth quarter of the year will certainly be an exciting one as we begin to wrap up an eventful 2020. There are a handful of important deadlines to be aware of so please remember to mark your calendar.

NFIP EXTENDED THROUGH SEPTEMBER 2021 Recently, a bill that funded the federal government through December 11, was signed into law. The bill includes a full-year extension of the National Flood Insurance Program (NFIP) and surface transportation funding. Under the agreement, NFIP authority is extended through September 30, 2021.

This is the second year in a row we have secured a full fiscal year extension for flood insurance. It is a victory for Realtors® and something we fought for very hard. While we continue to work toward comprehensive reform and long-term reauthorization, the marketplace needs stability and continuity.

KEY CONTACT AND FPC APPLICATIONS DUE IN NOVEMBER All Realtor® members who are interested in becoming an NAR Federal Political Coordinator (FPC) or Florida State Legislative Key Contact must turn in

16 | ELEVATE [ NOVEMBER 2020 ]

their applications in November. FPC applications are due November 13th. Florida Key Contact applications are due November 25th. If you are a current FPC or Key Contact you will need to reapply for the position to continue in the role. If you are interested reach out to me at Max@myrasm.com or (941)-952-3410.

IMPORTANT RPAC DEADLINE A friendly reminder: the 2020 RPAC investment deadline is coming up on November 25th. If you want to be recognized as a 2020 Major Investor or just to want to give, head over to floridarealtors.org/ pac to easily complete the form online. If you have any questions or need help finishing your investment, reach out to me and I will be happy to assist.

FREC EXTENDS ONLINE REAL ESTATE COURSES After an emergency meeting in October, FREC approved a third emergency rule extending online real estate courses. This latest extension runs to December 31st. Along with the courses, FREC has asked DBPR to create an online test option to streamline the process for licensees taking the exam.

Pearson Vue has announced an online testing option called OnVUE. You can see frequently asked questions (FAQs) about the online testing on the Florida REALTORS® website. •

MARKET ANALYSIS

More Sales Reported in First Nine Months of 2020 than in 2019 By: Gina White, RASM Communications and Marketing Director

D

espite a global pandemic, the housing market in Sarasota and Manatee is staying strong.

The residential market data for September reports that more homes were sold in the first nine months of 2020 than in the first nine months of 2019, according to Florida REALTORS®. The September market continues the trend from the previous month: a rise in sales, higher prices and fewer available listings than the same month last year.

“The September numbers show us more of what we have been seeing for the last several months,” said David Clapp, 2020 President of the REALTOR® Association of Sarasota and Manatee. “But, the months’ supply of inventory continues to go down, now at a painfully low level of just two months of supply for single-family homes and three months for condos. Keep in mind that six months is considered a balanced market.”

Year-to-date, closed sales have increased by 3.6 percent for the combined markets in both counties.

The year-to-date report is calculated using data totaled from January 2020 to the current month.

“September’s reported year-to-date increases for closed sales, prices, pending sales, and dollar volume show that we’re no longer playing ‘catch-up’ from the challenges we faced this Spring,” added Clapp. “The exception to having caught up in sales is the low number of active listings. While new listings continue to increase, we have not been able to have any net increase because we continue to sell more properties than we replace with new listings on a weekly basis.”

As for the month of September, a total of 2,327 sales were reported in Sarasota and Manatee counties which is a 35.1 percent increase from last year.

Single-family closed sales increased by 31.4 percent to 707 sales in Manatee and by 27.7 percent to 880 sales in Sarasota. The condo market increased with 73.5 percent jump to 314 sales in Manatee and a 35.2 percent increase to 426 sales in Sarasota.

The median price for single-family homes in both counties decreased slightly from the record-highs reported in August but are still up from September of 2019. In Manatee County, single-family median prices increased by 11.1 percent to $350,000. Sarasota singlefamily prices increased by 6.9 percent to $318,500.

Condo prices increased year-over-year by 10.6 percent to $220,000 in Manatee and by 8.7 percent to $252,240 in Sarasota.

“We have seen the number of cash sales go up once again, increasing by 27 percent in Sarasota and by 48 percent in Manatee County compared to the same period in 2019. Many cash buyers are migrating to our great area from urban markets like New York City and Chicago, selling their homes up north and entering our market with cash,” added Clapp.

With an increase in sales and rising prices, the dollar volume of sales jumped in all markets last month. For the condo market, dollar volume in Manatee County increased year-over-year by 113.5 percent to $94.5 million. As for Sarasota condos, dollar volume increased by 91.1 percent to $169.8 million.

The volume of sales for single-family homes increased by 65 percent in Manatee and by 50.2 percent in Sarasota.

Year-over-year, the combined inventory of active listings in both counties decreased by 29.6 percent.

Condo inventory decreased by 13.7 percent in Sarasota and by 14.8 percent in Manatee. Single-family home inventory decreased by 36.2 percent in Sarasota and by 40.3 percent in Manatee.

The month’s supply of inventory for single-family homes fell by 38.2 percent to a 2.1-months in Sarasota and decreased by 42.4 percent to 1.9-months in Manatee. Condo supply decreased by 23.7 percent to 2.9-months in Manatee and by 20.5 percent to 3.5-months in Sarasota. The month’s supply of inventory is an estimate of the number of months it will take to deplete the current inventory given the recent sales rates.

The total number of new listings for both markets increased in September by 19.8 percent from last year. Condo new listings increased by 15.5 percent in Sarasota and by 13.5 percent in Manatee. Singlefamily home new listings increased by 25.3 percent in Sarasota and by 18.4 percent in Manatee.

Pending sales increased for the fourth consecutive month in September with a combined 47.5 percent increase. For single-family homes, pending sales increased by 48.4 percent in Manatee and by 41.5 percent in Sarasota. Condo pending sales increased by 60.2 percent in Manatee County and by 50.8 percent in Sarasota.

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 - September 2020 Single Family Homes Sarasota County September 2020

September 2019

Percent Change Year-over-Year

880

689

27.7%

285

222

28.4%

Median Sale Price

$318,500

$298,000

6.9%

Average Sale Price

$448,619

$381,521

17.6%

$394.8 Million

$262.9 Million

50.2%

97.3%

95.4%

2.0%

Median Time to Contract

24 Days

49 Days

-51.0%

Median Time to Sale

72 Days

95 Days

-24.2%

New Pending Sales

911

644

41.5%

New Listings

940

750

25.3%

Pending Inventory

1,437

927

55.0%

Inventory (Active Listings)

1,514

2,373

-36.2%

Months Supply of Inventory

2.1

3.4

-38.2%

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 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

Median Sale Price

$350K $300K $250K

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

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

4,000

Inventory

3,500

3,000 2,500

2,000 1,500 1,000 500 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

2016

2017

2018

2019

2020

18 | ELEVATE [ NOVEMBER 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? ÂŠÂ—Â”Â•Â†ÂƒÂ›ÇĄ …–‘„‡” Í´Í´ÇĄ ʹͲʹͲǤ ‡š– †ƒ–ƒ ”‡Ž‡ƒ•‡ ‹• ÂŠÂ—Â”Â•Â†ÂƒÂ›ÇĄ ‘˜‡Â?„‡” ͳ͝ǥ ʹͲʹͲǤ

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

September 2019

Percent Change Year-over-Year

707

538

31.4%

174

118

47.5%

Median Sale Price

$350,000

$315,000

11.1%

Average Sale Price

$478,964

$381,577

25.5%

$338.6 Million

$205.3 Million

65.0%

97.6%

96.5%

1.1%

Median Time to Contract

23 Days

43 Days

-46.5%

Median Time to Sale

68 Days

92 Days

-26.1%

New Pending Sales

730

492

48.4%

New Listings

695

587

18.4%

Pending Inventory

1,150

721

59.5%

Inventory (Active Listings)

1,084

1,817

-40.3%

Months Supply of Inventory

1.9

3.3

-42.4%

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 F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

Inventory

3,000 2,500 2,000

1,500 1,000 500 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

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? ÂŠÂ—Â”Â•Â†ÂƒÂ›ÇĄ …–‘„‡” Í´Í´ÇĄ ʹͲʹͲǤ ‡š– †ƒ–ƒ ”‡Ž‡ƒ•‡ ‹• ÂŠÂ—Â”Â•Â†ÂƒÂ›ÇĄ ‘˜‡Â?„‡” ͳ͝ǥ ʹͲʹͲǤ

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

September 2019

Percent Change Year-over-Year

426

315

35.2%

191

151

26.5%

Median Sale Price

$252,240

$232,000

8.7%

Average Sale Price

$398,575

$282,037

41.3%

$169.8 Million

$88.8 Million

91.1%

96.4%

95.1%

1.4%

Median Time to Contract

43 Days

54 Days

-20.4%

Median Time to Sale

84 Days

110 Days

-23.6%

New Pending Sales

457

303

50.8%

New Listings

455

394

15.5%

Pending Inventory

746

546

36.6%

Inventory (Active Listings)

1,251

1,449

-13.7%

Months Supply of Inventory

3.5

4.4

-20.5%

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 F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

Median Sale Price

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

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

Inventory

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

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

2016

20 | ELEVATE [ NOVEMBER 2020 ]

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? ÂŠÂ—Â”Â•Â†ÂƒÂ›ÇĄ …–‘„‡” Í´Í´ÇĄ ʹͲʹͲǤ ‡š– †ƒ–ƒ ”‡Ž‡ƒ•‡ ‹• ÂŠÂ—Â”Â•Â†ÂƒÂ›ÇĄ ‘˜‡Â?„‡” ͳ͝ǥ ʹͲʹͲǤ

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

September 2019

Percent Change Year-over-Year

314

181

73.5%

134

90

48.9%

Median Sale Price

$220,000

$199,000

10.6%

Average Sale Price

$300,971

$244,587

23.1%

$94.5 Million

$44.3 Million

113.5%

96.4%

95.5%

0.9%

Median Time to Contract

40 Days

72 Days

-44.4%

Median Time to Sale

85 Days

114 Days

-25.4%

New Pending Sales

314

196

60.2%

New Listings

303

267

13.5%

Pending Inventory

430

295

45.8%

Inventory (Active Listings)

702

824

-14.8%

Months Supply of Inventory

2.9

3.8

-23.7%

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 F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

Median Sale Price

$250K $200K

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

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

Inventory

1,200 1,000 800

600 400 200 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

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? ÂŠÂ—Â”Â•Â†ÂƒÂ›ÇĄ …–‘„‡” Í´Í´ÇĄ ʹͲʹͲǤ ‡š– †ƒ–ƒ ”‡Ž‡ƒ•‡ ‹• ÂŠÂ—Â”Â•Â†ÂƒÂ›ÇĄ ‘˜‡Â?„‡” ͳ͝ǥ ʹͲʹͲǤ

COMMERCIAL REAL ESTATE ALLIANCE

Tips for Successful Repair Projects By: Alan E. Tannenbaum, Esq., Tannenbaum Scro Lemole & Kleinberg

F

or every building problem, there is an expert appropriate to investigate the issue and specify the appropriate repairs.

Finding the right experts for your problem and following the guidelines can make all the difference in your end result.

TIPS FOR SUCCESS: KNOW FULLY THE PROBLEMS REQUIRING CORRECTION

Before a cure is implemented, it is best to know as much about the building’s problems as possible.

This can include destructive testing to determine the true underlying cause of the issues, or testing based upon a mock-up, such as window or sliding glass door water testing.

HAVE THE ENGINEERING PROPOSALS REVIEWED BY A CONSTRUCTION LAWYER

Some engineering firms insert unreasonable self-

protection clauses (such as limitations of liability) into their proposals with owners. Negotiate these clauses out of the owner/engineer contract before signing.

HAVE DETAILED AND ON - TARGET PLANS AND SPECIFICATIONS PREPARED

Urge your engineering firm to prepare plans and

specifications customized for your job. It is smart to have the plans and specifications reviewed by an independent construction consultant to point out potential inconsistencies, lack of clarity or omissions. The contractor chosen for the job should also be urged to comment on the plans.

HAVE A CONSTRUCTION LAWYER PREPARE THE REPAIR CONTRACT

Some engineering firms insert a form contract in

their bid packages. These form contracts are often not tailored for repair jobs and are more protective of engineers than owners. In addition, they omit provisions required by Florida law and contain provisions unenforceable under Florida law. Have an owner-oriented repair contract tailored for repairs prepared by a construction lawyer familiar with Florida law.

CONSIDER HAVING AN OWNER’S REPRESENTATIVE

Someone on behalf of the owner needs to monitor the

progress of the work and be available to make decisions and answer questions. It may make sense to retain

22 | ELEVATE [ NOVEMBER 2020 ]

the services of a project manager to act as owner’s representative. This should be in addition to contract administration by your engineer, not in place of it.

CAREFULLY VET BIDDERS AND QUALIFY THE REPAIR TEAM

Choose a contractor appropriate for the job. Ask

for references relevant to the work proposed and interview them. Make sure that the bidders are committed to assigning their best team to your job.

NEGOTIATE A BALANCED DRAW SCHEDULE

Negotiate a draw schedule which has the

contractor at any point in the job having provided more value than they have been paid. Avoid initial deposits and require retainage.

CONSIDER A PERFORMANCE AND PAYMENT BOND

This pertains to a major repair project. Besides

providing important security for project completion and payment of subs and suppliers, contractors do not want their surety to be brought in on a job. So, having a bond in place is incentive for the contractor to do competent work and pay their subs and suppliers.

KEEP REGULAR JOB MEETING MINUTES AND CONFIRM UNDERSTANDINGS IN WRITING IN A TIMELY FASHION

Job meeting minutes should be kept and timely

circulated, and timely e-mail confirmations should be sent to document communications exchanged between job meetings.

BE DILIGENT AT FINAL PAYMENT AND JOB CLOSEOUT

The final payment request is the opportunity to

properly tie up remaining obligations surrounding defective work, damages to property, product and equipment warranty certification and delivery, and job accounting. Warranties are no substitute for getting things corrected while the owner continues to have financial leverage over the contractor. It is no time to let down your guard.

Even the best planned and documented repair effort can have issues. However, diligent planning, the selection of the right team, and accountability throughout the job can lessen the likelihood of unforeseen issues negatively impacting the association.

Please note, due to space limitations, this article does not cover all key provisions appropriate in a repair contract (lien waivers, prevailing party attorney’s fees, venue for disputes, delay damages, insurance requirements, etc.). •

By Alan E. Tannenbaum, Esq., Tannenbaum Scro Lemole & Kleinberg. Mr. Tannenbaum is Board Certified in Construction Law by the Florida Bar. He is AVRated® by Martindale-Hubbell® by peer-review ratings, the highest recognition an attorney can receive for excellence in legal ethics and practice skills.

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.

OUR FOCUS: YOUR COMFORT

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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.

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NEWS YOU CAN USE

RASM Quarterly Humanitarian Award Quarter 3 Winner: Andrea Capek, Realtor®, Exit King Realty

R

RASM has established a Humanitarian Award to be bestowed quarterly, designed to recognize the Realtors® who are doing great things in our community. We want to show our members and the two-county area that Realtors® make up a large part of our community’s success.

The RASM Community Outreach Committee has proudly recognized Andrea Capek, Realtor® with Exit King Realty, as the “Humanitarian of the Quarter” recipient for the third Quarter of 2020.

Andrea Capek is passionate about helping others in every way she can. Whether she is doing small, daily acts of kindness for one person, or organizing large events that help many, Andrea has a humble heart for others and loves to serve the community.

HOLIDAY TOY DRIVE Among Andrea’s many other philanthropic endeavors, she dedicates her time to organizing a Holiday Toy Drive which benefits four organizations: SPARCC, Mothers Helping Mothers, Child Protection Center, and for the first time, Children First. These toys are donated to families with children who are struggling financially during Christmas time and in great need of extra cheer. The holiday season can be extra difficult for struggling families and programs like

this can make all the difference to a child in need. Toys for all age groups, from infants to teenagers, boys and girls, are greatly appreciated to provide every child with a meaningful gift.

The program works by placing toy donation drop boxes at several area businesses. Toys must be new and unwrapped. Last year, Andrea secured 20 area businesses throughout Bradenton and Sarasota who were willing to support her effort by offering to be a toy box donation center starting around November 1st. Hundreds of toys were donated in years past and Andrea is hoping for an even larger turn out this year as the need has never been greater. The toys can either be dropped off at the donation locations, or brought to the Grand Finale on December 2, at Evie’s Tavern & Grill located in downtown Sarasota on Main Street.

This December will mark the 8th year that Andrea has organized this worthy event. All donations will be evenly split between the four organizations to provide families with a brighter holiday season. RASM is proud to participate as a donation location this year.

DESIGNING DAUGHTERS Andrea is also a member and supporter of Designing Daughters, a group comprised of women from all walks of life that volunteer their time to help raise funds and grant them to local community nonprofits within Sarasota and Manatee counties. The group raises money during the year, and then they give out grants to organizations that are nominated throughout the membership. The total funds raised are approximately $90,000-$100,000 every year, and the individual grants average $5,000 each, depending on the number of organizations nominated.

HELPING OTHERS Andrea continues to be involved in various other acts of kindness in our community. Andrea, along with her close friend Christine, befriended an elderly, 81-year-old homeless woman named Wilma. Obviously in great need, the women worked together to find Wilma permanent housing and establish a GoFundMe account to provide for her basic needs. They were also able to connect her with a social worker for ongoing care and they remain connected to her, even throughout the COVID-19 crisis. This is just one example of the many things Andrea does, often without recognition and behind the scenes, to help those in need.

RASM sincerely thanks Andrea Capek, and all our members who volunteer and give to our community and make a difference in the lives of others. To nominate someone for the RASM Humanitarian Award, email outreach@myrasm.com.• 24 | ELEVATE [ NOVEMBER 2020 ]

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YOUNG PROFESSIONALS NETWORK

Tips on H0w to Stay Focused By: Ariana Gillooly, GIT Florida Title Services & Christal Gentile, Realtor®, Michael Saunders & Co.

U

nfortunately, we are still in a very uncertain time. We want you to know that we are thinking of you and we are here for you. To help calm your mind, here are some tips on how to stay focused through the chaos.

ELIMINATE DISTRACTIONS First, you need to eliminate or minimize distractions. I know for all of us, social media is a huge distraction. Try putting a limit on your screen time. If you are out in public with friends or clients, make an effort to not pick up your phone. Stay engaged with human interaction.

You can also try unplugging for one hour per day.

By starting this first step, it will help quiet your mind.

We know it will take major effort on your part, but if you cannot curb the things that distract you, then you won’t progress.

SET GOALS Set goals for yourself. For us, writing a list or setting reminders on your phone helps to stay on track. Then, chip away at the list. It feels good

26 | ELEVATE [ NOVEMBER 2020 ]

when you can accomplish your duties one at a time. Sometimes multitasking can slow down your production and you might miss a task.

PRACTICE MINDFULNESS Mindfulness has become seemingly popular these days. It can be as simple as meditating or doing a breathing exercise. Just breathe in through the nose and out through the mouth. You can also practice mindfulness anywhere. Find your favorite spot and try out The Calm app. It has music, meditation, breathing exercises and more.

REMEMBER TO TAKE BREAKS It is always good to take breaks to do the things that you enjoy. When you keep doing the same thing over and over, you lose focus. Try going for a walk outside, head to the beach, or workout to release endorphins. Taking a break will help you get back on track.

So, live in the moment, don’t dwell on the past or worry about the future. Live now and stay focused.

When you stay focused, everything will fall into place. Break the habit of getting distracted and try unplugging from your electronics once a day. Practice more goal setting in order to achieve success. For your own health benefits as well as regaining focus, use mindfulness as a means to be aware of your surroundings and become more relaxed. •

GLOBAL BUSINESS COUNCIL

Challenges Involved When Working With International Clients By: Andrea Sedlackova, Realtor®, Veterans Realty

H

elping our buyers to buy a property is more or less our daily routine as an agent.

Yet it is a completely different situation each time you meet an international buyer. Even when you are certain that you’ve explained something perfectly clear, there can easily be major misunderstandings.

CULTURAL DIFFERENCES Every single country you have ever heard of (or even not heard about yet) has its own unique language with respect to real estate. Each country and sometimes cities or regions have their own rules.

Knowing this, we should always consider every new international buyer (sellers too, of course) as a firsttime homebuyer who has little or no experience with the procedure of buying or selling a property.

The international buyer will always compare your local laws and procedures to the ones they already know. Knowing this, you should assist them in understanding the differences between the two and how it can affect the transaction.

One of the main differences we can find is the conception type of rooms. For example, in the U.S., the bedroom is a room with a closet, a window, and a door in which you can exit. To the international buyer, it means any room that has a window and a door. This is important to know because you need to understand when your buyer states they need three bedrooms in a home, he or she might need only two bedrooms and an office or den. You can save your buyer a lot of money by understanding this concept.

every single property. Also, signing the contracts remotely is absolutely unique compared to the rest of the world- especially in Europe, where the buyer needs to sign the contract in person and in front of the notary.

TITLE COMPANY DIFFERENCES Last but not least, the title company is divided into two different offices in a lot of countries - especially in Central Europe. One of them is a national register for real estate ownership, where you can easily find online who the owner is of any real estate property. The second one might be a notary or lawyer (counselor) who prepares a contract. There is one lawyer (notary, counselor) for each party - buyer and seller.

If you want to obtain more information about the process of working with international buyers and understand the challenges, I strongly recommend that you attend the CIPS classes. •

CONTRACT DIFFERENCES Also, the process of buying a property is very different in the U.S. The contracts are prepared in advance so you can review them with your buyers anytime. Yet this situation is different in almost every other place in the world. The contracts are prepared individually from beginning to end for

myRASM.com | 27

RASM NEWS

Employee Anniversaries

R

ASM happily recognizes the workplace anniversaries of our professional staff.

Jesse Sunday, Director of Information Technology, celebrated his 16th year with the Association in October.

Jesse oversees all the technology needs of RASM. He is a self-appointed “technology geek.”

Jesse’s responsibilities include management of internal and external servers, networks, databases, security protocol, phone systems, interfacing with outside vendors, disaster recovery systems, and all general IT procedures.

In addition, he oversees technical projects in alignment with the Association’s strategic plan as well as continuously researching and implementing solutions to improve IT processes. In his free time, Jesse enjoys spending time with his family, daughter Emma (12), son Dylan (10), and his wife, Beth.

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

28 | ELEVATE [ NOVEMBER 2020 ]

Max Brandow, Government Affairs Director, celebrated 3 years with RASM last month.

Max represents RASM members in all facets of government affairs, including monitoring local municipal actions and advocating for RASM members’ interests at local commission meetings. He is also the liaison to the important committees that raises funds for RPAC as well as the committee that screens and endorses local candidates.

He enjoys being able to see collective action at work. He also enjoys interacting with the great staff and friendly members who have been such positive resources to him.

When not at RASM, Max enjoys spending time with his girlfriend and their two-year-old French Bulldog named Winston. Also, as an alumnus of FSU, he is a diehard Seminoles fan.

RASM thanks our dedicated staff. We can’t do what we do without our staff! •

941-556-8895 Sharonb@CoastalPrint.com

CoastalPrint.com 4391 Independence Court Sarasota, FL 34234

NEIGHBORHOOD SPOTLIGHT

Heavenly, Hidden Hollow By: Teri Berket, Broker, Skyscrapers And Sandcastles Inc.

T

he origins of the condominium complex known as “Hidden Hollow” was born from a few New Yorker friends who wanted to invest in Sarasota, and they formed a plan for this unique community in Manatee county, which happens to have a Sarasota address.

The area surrounding the ‘Hollow’ at the time of construction, circa 1974, was covered with orange groves, cattle ranching, horse pastures, and roadside stands. In order for me to get there from downtown Sarasota, it meant a drive in the countryside, delightful smells of orange blossoms in the breeze, and visiting with the horses at the pasture.

I fell in love with the ‘Hidden’ enclave, which to this day evades most tourists and locals alike.

It’s easy to drive right past the subtle entrance, which is one mile north of University Parkway at Lockwood Ridge Road, unaware that you just passed a tiny community of charming, and well-kept, owneroccupied townhomes.

Residents of Hidden Hollow love their “little slice of heaven” so much, that they don’t often sell. This low

turnover makes each listing a hot commodity.

In Kentucky, and other regions, a “Holler” is an area of the community, wherein lies a habitable place, with the main road, which has one mouth and a head, surrounded by homes of neighbors and there’s a dead-end at the head of the road. So, the Holler only has one way in, and one way out. This allows for some supervision of the community, without worry about outsiders wandering in the back. In a Holler, neighbors thrive, the community is strong, and feels self-protected. Although this Holler isn’t in the hills of Kentucky, the landscaping is rolling, and a bit reminiscent of hills. There’s still only one way in and out.

The grounds are colorful and vibrant, and the homes are structurally innovative for the period. The pool, clubhouse, and tennis court are surrounded by trees, and lush landscaping. The spacious interiors of the one, two, and three-bedroom homes are unique and built for convenience.

Prices reflect the median scale amid the upperpriced developments in the immediate neighborhoods.

The community is conveniently located close to the UTC shopping centers, SRQ Airport, Sarasota, and I-75.

I am a proud owner of one of these beautiful homes in Hidden Hollow and someday, I will retire there! •

myRASM.com | 29

NOVEMBER 2020

CALENDAR OF EVENTS MONDAY, NOVEMBER 2 8:00 a.m.

CIPS: Europe and International Real Estate [ South ]

TUESDAY, NOVEMBER 3 8:00 a.m.

WEDNESDAY, NOVEMBER 11 9:00 a.m.

MONDAY, NOVEMBER 23

BOOST: The Art of Comps [ Online ]

THURSDAY, NOVEMBER 12 9:00 a.m.

Social Media Bootcamp [ Online ]

9:00 a.m.

YPN Coffee Talk [ Online ]

CIPS: Asia/Pacific and International Real Estate [ South ]

WEDNESDAY, NOVEMBER 4 7:30 a.m.

Toastmasters [ Online ]

9:00 a.m.

BOOST: Building Your CRM [ Online ]

9:00 a.m.

FRIDAY, DECEMBER 4

CREA Marketplace [ Online ]

9:00 a.m.

MONDAY, NOVEMBER 16

Soar Virtual Conference [ Online ]

Short Sale & Foreclosure [ Online ]

9:00 a.m.

Intro to Contracts [ Online ]

TUESDAY, NOVEMBER 17

9:00 a.m.

CREA Marketplace [ Online ]

9:30 a.m.

Ethics & Business Practices (iCE) [ Online ]

Step It Up A Guide For Brokers [ Online ]

9:00 a.m.

Market Like a Rockstar [ Online ]

MONDAY, NOVEMBER 9 8:00 a.m.

Military Relocation Professional [ Online ]

9:00 a.m.

Code of Ethics [ Online ]

TUESDAY, NOVEMBER 10 YPN’s Turning Instagram into Money: The Economics Behind It [ Online ]

11:30 a.m. CREA Member Meeting [ Online ] 1:00 p.m.

9:00 a.m.

RASM Virtual Installation and Awards Event [ Online ]

EVENT TIMES & LOCATIONS SUBJECT TO CHANGE

8:00 a.m.

FRIDAY, NOVEMBER 6

CREA Marketplace [ Online ]

THURSDAY, DECEMBER 10

8:00 a.m.

THURSDAY, NOVEMBER 5

3:00 p.m.

New Member Orientation [ Online ]

WEDNESDAY, DECEMBER 2

FRIDAY, NOVEMBER 13

9:00 a.m.

9:00 a.m.

So, You Want To Be A Broker! [ Online ]

WEDNESDAY, NOVEMBER 18 7:30 a.m.

Toastmasters [ Online ]

9:00 a.m.

BOOST: Marketing Yourself and Open Houses [ Online ]

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.

FRIDAY, NOVEMBER 20 9:00 a.m.

CREA Marketplace [ Online ]

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

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

30 | ELEVATE [ NOVEMBER 2020 ]

UPCOMING CLASSES UPCOMING CLASSES

BOOST: THE ART OF COMPS

Learn more at myrasm.com/calendar to register.

BOOST: BUILDING YOUR CRM Wednesday, November 4 9:00 a.m. – noon

[ Online ]

Class 2 of BOOST will introduce you to Client Relationship Management (CRM) platforms, providing you with information you need to decide which style is best for you.

Knowing how to generate and organize leads is imperative for a successful Realtor®. You’ll learn key features to look for when you consider a CRM. Members Free

2020 SOAR VIRTUAL CONFERENCE Thursday, November 5 9:00 a.m. – 4:00 p.m.

[ Online ]

Given how our world has changed, now is the time to reassess, realign and restart your career track. Soar is the perfect opportunity to gain the insight, make changes and reignite yourself. Soar is a one-day virtual event that will offer multiple tracks including, legal, technology, global, property management, sales and professional development. Members Free

ETHICS & BUSINESS PRACTICES Friday, November 6 9:30 a.m. – 12:30 p.m.

[ Online ]

In recognition and appreciation of their obligations to clients, customers, the public, and each other, Realtors® continuously strive to become and remain informed on issues affecting real estate and, as knowledgeable professionals, they willingly share the fruit of their experience and study with other. This class is part of the Florida REALTORS® virtual series that is live streamed from Orlando. Members $10. 3 CE HRS.

MILITARY RELOCATION PROFESSIONAL Monday, November 9 8:30 a.m. – 5:00 p.m.

Wednesday, November 11 9:00 a.m. – noon

SHORT SALE & FORECLOSURE Monday, November 16 8:30 a.m. – 5:00 p.m.

[ Online ]

As many agents can attest, your ability to close short sales and foreclosures depends in part on your confidence in seeing these transactions through.

Begin building your confidence today with SFR®! Get detailed information on how to handle distressed properties, taking a short sale listing, and the process from contract to close. Members $20. 7 CE HRS.

STEP IT UP A GUIDE FOR BROKERS Tuesday, November 17

8:00 a.m. - noon

[ Online ]

Wouldn’t It be great if you could imagine a brokerage where associates are calling you and asking to come work for you, instead of you having to spend countless hours recruiting? Learn how to turn this into a reality.

Members $25. 4 CE HRS.

SO YOU WANT TO BE A BROKER! Tuesday, November 17

1:00 – 4:00 p.m.

[ Online ]

This course presents the considerations, possibilities, and the practicalities of owning your own real estate brokerage firm. Students will understand the reasons why not every Realtor® succeeds in becoming a Broker, and how to be one of the people that do.

Members $20. 3 CE HRS.

[ South ]

The goal of the Military Relocation Professional Certification Course is to educate real estate professionals about working with current and former military service members to find the housing solutions that best suit their needs and take full advantage of military benefits and support. Members $30. 7 CE HRS.

BOOST: MARKETING YOURSELF & OPEN HOUSES Wednesday, November 18 9:00 a.m. – noon [ Online ]

Class 4 of BOOST prepares you for hosting an effective open house, including farming techniques and social media advertising to get buyers in the door. Members Free.

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

[ Online ]

In Class 3 of BOOST, you will learn how to utilize the tools available to you so you can prepare an accurate price for your listings. Learn the differences between a CMA and an appraisal and why both reports are important in the home selling process. Members Free.

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

[ Continued on page 32 ] 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.

MLS BASIC TBD

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.

new subscribers reviews the MLS comprehensive Rules & Regulations to ensure that all users have access to the best data possible.

MLS ADDING & EDITING LISTINGS TBD

2:30 – 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.

MLS COMPLIANCE 101 TBD

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

OWN YOUR PRESENT. EMPOWER YOUR FUTURE. 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.

32 | ELEVATE [ NOVEMBER 2020 ]

COMMITMENT TO E XC E L L E N C E

C2EX.realtor

PROFESSIONAL DEVELOPMENT

The Season of Thanks By: Denise Ricciotti, RASM Professional Development Manager

N

ovember brings a variety of certifications, continuing education classes, and informational seminars.

The month of November lends itself to the season of giving thanks. We are thankful for our amazing members, and we are grateful for the opportunity to continue to provide flexible, relevant educational options to our RASM members.

Whether you seek to meet your requirements, build your skills, look for networking opportunities, or simply feed your hunger for learning, RASM is thankful and proud to be a part of your journey to learn.

Military Relocation Professional (MRP) Kim Christine Wright, Coldwell Banker Realty Resort & Second Home Property Specialist Eileen Gillen, Coldwell Banker Realty Rosemarie McKee, Keller Williams On The Water Short Sale & Foreclosure Resource (SFR®) Lillie E. Dawson-Lugen, Jubilee Real Estate Corp Shana Lee Hamel, Key Solutions Real Estate Grp Kim Christine Wright, Coldwell Banker Realty Bruce Hearon, Keller Williams On The Water Patricia A. Wilkerson, Florida Home Team LLC Seller Representative Specialist (SRS) Robin Sue DiSabatino, Coldwell Banker Realty Jill Kramer, Coldwell Banker Realty Kathryn S. Patten, Coldwell Banker Realty •

NEW DESIGNATIONS & CERTIFICATIONS Accredited Buyer’s Representative (ABR®) Kristen L. Kesling, Preferred Prop Of Sarasota Eileen Gillen, Coldwell Banker Realty At Home With Diversity (AHWD) Mary Jane Dunlop, Limbo Company Sarasota Assoc.

C2EX Debbie Roth, RE/MAX Alliance Group Joe Cleary, RE/MAX Alliance Group Certified International Property Specialist (CIPS) Gregory B. Perry, OneTwelve Realty, LLC e-PRO® James Robert Agee, James Agee Realty LLC Graduate, REALTOR® Institute (GRI) Pamela Morgan Crane, NextHome Excellence Jill Christine French, EXP Realty LLC Katherine Marshall, Michael Saunders & Company George Leslie Muthart, Coldwell Banker Realty Deborah Ragan, Century 21 Integra Realty Toni Turner, Michael Saunders & Company

myRASM.com | 33

MEMBERSHIP NEWS

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

NEW DESIGNATED REALTORS®

James Vincent Angelo, Florida Homes Realty & Mtg Judy Clark, Coldwell Banker Residential Ian Edmonson, Edmonson & Associates Real Estate Constantine Hanzivasilis, Gulf Prime Realty LLC Zain G. Hartman, Hartman Real Estate & Company Jennifer Helton, Berkshire Hathaway HomeService Thanh V. Nguyen, First Choice Realty of Florida LLC Stephen Dale Payne, Payne Appraisals James P. Quinn, Peace River Partners Bette L. Rabbitt, Rabbitt Realty LLC Brenda Elaine Roberts, Brenda Elaine Roberts Alex Menahem Roth, Roth Realty LLC Angela T. Schuberg, Beach Bliss Realty LLC Michael W. Sporer, Interstate Commercial Brokers Sherrie Stone, Xpress Property Resource, Inc. Jarrett N. West, Exit Realty Magic City LLC Richard J. Wilhelm, Richard J. Wilhelm Lic. RE. Broker Merrill W. Williams, Thomas Associates Realty Inc.

NEW REALTORS®

Catherine Aganmayo, Keller Williams On The Water Ramona Myers Alba, Fine Properties Frances Jane Allen, RoseBay International, Inc Lisa Marie Allen, Wagner Realty Linda Ames, Horizon Realty of Anna Maria Therese Marie Anderson, Opportunity Real Estate LLC Lisa Ann Armentrout, KW Suncoast Conner Harrison Ashley, Coldwell Banker Realty Michael Thomas Aveni, Keller Williams Island Life Re Teresa Becerra, Mapp Realty & Investment Co. Christina Bernhart, Regal Touch Realty Inc. David Erling Betz, Keller Williams Realty Select Carla Michele Blethen, Keller Williams On The Water David Alexander Bowles III, Capital Real Estate Enterprise Ana Karlla Bredt, Keller Williams Realty Select Logan Clark Breen, EXP Realty LLC Katrina Brennan, Dalton Wade Inc Eva Carrasquillo, Coldwell Banker Realty Shelley F. Cary, Berkshire Hathaway HomeServices Florida Realty Terri Clement, Zachos Realty Wayne Cockcroft, Patriotic Real Estate Emily Marie Coleman, Michael Saunders & Company 34 | ELEVATE [ NOVEMBER 2020 ]

Nicolas Trent Compton, Michael Saunders & Company Robin Wayne Cook, Exit King Realty Marjorie Cooper, Michael Saunders & Company Christopher Corsiglia, Medway Realty Christopher Crawford, Michael Saunders & Company Rachael Croll, Bark & Company Realty, Inc. Robert Michael Curtin, Michael Saunders & Company Daniel Dabrowski, Dalton Wade Inc. Shari Lynn D’Andria, Keller Williams On The Water Terry Mae Davenport, Exit King Realty Sara del Monte, Michael Saunders & Company Nicole Desiano, Coldwell Banker Realty Wenston B. DeSue, Keller Williams On The Water Kelly Dunlop, Yorkshire International R.E. Jennifer R. Eastburn, EXP Realty LLC David J. Eramo, Berkshire Hathaway HomeService Carmen Findlay, Coldwell Banker Realty Karen Marie Fronckoski, Coldwell Banker Realty Elyssa Hackett, Century 21 All Aces Realty Matthew Hamblin, RE/MAX Tropical Sands Jessica Ann Hayes, Keller Williams Island Life Re Maximilian Hennessy, William Keller Williams On The Water Kelly Hood, KW Suncoast Amanda Hosier, EXP Realty LLC Carrie K. Howard, Medway Realty Brian K. Hurst, Berkshire Hathaway HomeServices Florida Realty Aron Daniel Hutchins, Keller Williams On The Water Kiet Tuan Huynh, Bright Realty Ivan Ianakiev, Preferred Shore Jared James, EXP Realty LLC Carol C. Jerrehian, Keller Williams On The Water Erick Alex Jones, RE/MAX Platinum Realty Cynthia E. Knight, Coldwell Banker Realty Suzanne Korinek, An Island Place Realty Inc Samarra R. Landry, Keller Williams Realty Select Julie Renee Lewis Gibson, Michael Saunders & Co Leann Magnabosco, HomeSmart Lisa A. Matthews, 1st Premier Intl Properties Jennie Lee Metzler, Coldwell Banker Realty Darryl Wayne Miedema, Keller Williams On The Water Elena Mitchell, Coldwell Banker Realty Thomas Dean Mitchell, Albert Wooster & Company Ginnes Eneida Montes Vera Rivas, RoseBay International, Inc

MEMBERSHIP NEWS Toni Moore, Key Solutions Real Estate Group Savannah Morgan, Keller Williams On The Water Joshua James Mott, New Door Real Estate LLC Paul R. M’Sadoques, Starlink Realty Inc Christin Murphy-Sanderson, Marcus & Company Realty Fredrick Layne Naids, RE/MAX Alliance Group Alahna Nicolas, KW Suncoast Karl Joseph Ordetx, Coldwell Banker Realty Michael Lee Painter, Keller Williams Classic Group Kerry Panozzo, MVP Realty Associates LLC Analise Lynn Pavlisin, EXP Realty LLC Gretell Perez, Sunset Realty Aleksandra Perisic, Weichert Realtors® Hallmark Pro Robert Perley, Tamiami Realty LLC Michael Perry, Michael Bright Realty Lynnea Peters, Keller Williams On The Water Robert Petrillo, One Home Realty Group Ashley Pollio, Florida VIP Realty Inc Andrea Powell, Trend Realty Clifford Powell, Keller Williams On The Water Ryan Purdy, NextHome Excellence Carri Radford, Medway Realty Jamie Rawlinson, Keller Williams On The Water Marilee Susan Roberts, Realty Executives Gallery Matthew Roberts, Fine Properties Alexander Michael Roche, Bright Realty Robin Marie Roden, Keller Williams Realty Select Andrea Rodman, Coldwell Banker Realty Lesly Rodriguez, Keller Williams Realty Select Laurie M. Rogers, Rogers Real Estate Joseph Anthony Ruggiero, SRT International Realty Aaron Rutsky, Trend Realty Joseph Savinsky, Hembree & Associates Inc Troy Scott Schuberg, Beach Bliss Realty LLC Chris Schuetz, SRT International Realty Jessica Marie Scotton, EXP Realty LLC Chelly Serrano, Michael Saunders & Company Matthew Paul Sevarino, Premier Sothebys Intl Realty Benjamin Erik Smith, EXP Realty LLC Brian Snyder, Premier Sothebys Intl Realty Joyce Katherine Sobczyk, Exit King Realty Thomas Ryan Sons, Keller Williams Island Life Re Daniel Anthony Spino, Fine Properties Kenton J. Spuehler, Keller Williams Classic Group Daryl E. Swartz, EXP Realty LLC Katanya Taite, Coldwell Banker Realty Michelle Thermidor, EXP Realty LLC Harley Tigreros, Fine Properties Katharine A. Tjarks, Home2Go Realty LLC Trey Stuart Triant, Keller Williams On The Water Madeline Valadie, Marcus & Company Realty Oscar Eduardo Valencia, Trend Realty Jennifer Vassar, Coldwell Banker Realty Stacy Marie Weingarten, Rovithis Realty Robert J. White, RealtyOne Victoria Lynn White, Stock Realty LLC Guillermo Antonio Yanez Del Castillo, Machado Property Pros

NEW BUSINESS PARTNERS AVALON BLUE HOME 2709 Safe Harbor Dr Sarasota, Florida 34231 Representative: Crystal Beckel Email: cbeckel@avalonbluehome.com Avalon Blue Home has set its sights on focusing primarily with interior design, home staging, design consultation, real estate photography and photo editing services.

GOLD STAR HOME INSPCTORS 2933 Mayflower Terrace North Port, Florida 34286 Representative: Jimmy Earley Email: jimmy@goldstarhomeinspectors.comAt R Experience 5 Star Service with Gold Star Home Inspectors

NATIONAL PROPERTY INSPECTIONS P.O. Box 1432 Ruskin, Florida 33575 Representative: Greg Suhre Email: Greg.Suhre@npiinspect.com Serving Manatee County and surrounding areas, National Property Inspections is the first name in home and commercial property inspections. Their professionally trained inspectors have years of experience identifying the condition of hundreds of your home’s most vital systems.

RD TRAINING SYSTEMS 32392 Coast Hwy Caguna Beach, California 92651 Representative: Brittany Carlone Email: BrittanyC@rdtrainingsystems.com RD Training Systems currently serves as a consultant to many of the largest real estate corporations, organizations, and affiliates in North America, assisting them in the development and strategy of their marketing plan, business strategy, and sales tools.

REAL ESTATE MKTG PRO 2925 Desert Plain CV Lakewood Ranch, Florida 34211 Representative: Jason Bearden Email: jason@realestatemktg.com Get noticed and stop losing out on opportunities with Real Estate MKTG Pro - offering professional photos, videos, and personal branding content. •

myRASM.com | 35

PLATINUM 2020 ANNUAL SPONSORS PLATINUM

SILVER

BRONZE

36 | ELEVATE [ NOVEMBER 2020 ]

Peace of Mind Home Inspections Ruoff Home Mortgage Housing Finance Authority Barnes Walker Title Bert Rodgers Schools Cross Country Mortgage

RASM Members Now With Lawrence Stuart Achtman, Florida Property Brokers Realty Monica Angulo Villalobos, Paradisus Realty Group CO Samuel G. Autry, Preferred Shore Rivas Barrow, Angela Wynette, Florida Property Brokers Realty Lindsey Tyler Blomberg, Keller Williams Realty Select Mark D. Brink, Fine Properties Kevin Bryceland, Le Grande Realty Inc Raymond Lee Butterfield, EXP Realty LLC Elizabeth Camilo Grafals, La Rosa Realty Central Florida Jennifer M. Cassidy, Darling Realty Molly Ann Clothier Atwood, Michael Saunders & Company Frank Edward Crane, Coldwell Banker Realty Chiante Crayton, Fine Properties Sharon Cuevas, EXP Realty LLC Marta L. Diaz Hudson, Innovation Realty Group Lloyd F.-Dreibelbis, RMS Elite Properties Jessica Dale Fabre, Michael Saunders & Company Esther Eti Farber, Preferred Shore Larry G. Fett, Century 21 Beggins Enterprises Sylvia D. Ford, Sarabay Real Estate Inc Robert Gaudino, Weichert Realtors® Hallmark Pro Helaine A. Giddens, KW Suncoast Jeffrey Gobuty, Compass Florida, LLC. Vitino Goffredo, Keller Williams On The Water Michelle Good, Fine Properties Connie M. Gortney, Ascendia Real Estate Gary J. Grainger, EXP Realty LLC Grace Mary Guastella, EXP Realty LLC Edna Allison Hernandez-Zullin, Premier Sothebys Intl Realty Dennis E. Hertzler, Fine Properties Bradley Hill, Robert Slack LLC Mark Hughes, RE/MAX Alliance Group Daniel R. Imbruno, Sarabay Real Estate Inc Michael Shane Johnson, Exit King Realty Benjamin Johnston, EXP Realty LLC Courtney Lee Knepp, Fine Properties Karen Kontout, Florida Property Brokers Realt Valentina Kvamme, Keller Williams Island Life Re Philip Leber PLLC, PalmerHouse Properties Alan Paul Lee, Medway Realty Gordon Henry Long, Century 21 Beggins Enterprises Man Yu Long, Fine Properties Melissa Loveton, Coldwell Banker Realty Therese M. Masseo, Fine Properties Keith McCabe, Exit Sunset Realty

Julio M. Melendez, Florida Homes Realty & Mortgag Dione M. Metnick, Sea Breeze Appraisals LLC Terry Millett, Julia Int’l Real Estate LLC Felicia Neptune, Dalton Wade Inc Dana Noecker, Fine Properties Sarah Norris, MVP Realty Associates LLC Michael T. Novak, Coldwell Banker Realty Linda S. Oroark, Realty Services Inc Kristi Owens, Fine Properties Peter J. Pike, EXP Realty LLC Bill J. Plifka, Florida Property Brokers Realt Christine Pope, Rovithis Realty Charles Popovic, Medway Realty Michael J. Renick PLLC, Mangrove Realty Associates Nancy Ingrid -Rhine, Keller Williams Realty Select Gary Thomas -Rhodus, EXP Realty LLC Alex Menahem Roth, Roth Realty LLC Laura Ruszkiewicz, RE/MAX Platinum Realty Oleg Shepherd, Keller Williams On The Water Philip Sions, Realty Services Inc Dorota Swierkowska, Preferred Shore Katanya Taite, Coldwell Banker Realty Keith William Tanguay, Keller Williams On The Water Eric Teoh, Mangrove Realty Associates Lynette C. White, KW Suncoast Kevin Whitlock, Dalton Wade Inc Paul A. Wolbers, NextHome Excellence Shawnta Zackery, Keller Williams Realty Select Jamie P. Zeigler, Preferred Shore •

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

September 2020 Reach Further With The Market.

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

Monthly Distressed Market - September 2020 Single Family Homes Sarasota County

Closed Sales

September 2020

September 2019

Percent Change Year-over-Year

875

676

29.4%

$319,000

$299,000

6.7%

2

10

-80.0%

$247,475

$203,000

21.9%

3

3

0.0%

$160,000

$320,000

-50.0%

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 F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

$500K $450K

Median Sale Price

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

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

2016

40 | ELEVATE [ NOVEMBER 2020 ]

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

Monthly Distressed Market - September 2020 Single Family Homes Manatee County

Closed Sales

September 2020

September 2019

Percent Change Year-over-Year

698

523

33.5%

$350,567

$317,500

10.4%

6

14

-57.1%

$262,250

$201,050

30.4%

3

1

200.0%

$385,000

$90,000

327.8%

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 F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

$700K

Median Sale Price

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

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

2016

2017

2018

2019

2020

myRASM.com | 41

”‘†—…‡† „› 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

Monthly Distressed Market - September 2020 Townhouses and Condos Sarasota County

Closed Sales

September 2020

September 2019

Percent Change Year-over-Year

424

313

35.5%

$252,240

$232,000

8.7%

1

1

0.0%

$175,000

$93,100

88.0%

1

1

0.0%

$375,000

$1,075,000

-65.1%

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 F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

$1200K

Median Sale Price

$1000K

$800K

$600K

$400K

$200K

$0K

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

2016

42 | ELEVATE [ NOVEMBER 2020 ]

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

Monthly Distressed Market - September 2020 Townhouses and Condos Manatee County

Closed Sales

September 2020

September 2019

Percent Change Year-over-Year

311

176

76.7%

$221,454

$201,250

10.0%

3

4

-25.0%

$186,000

$164,500

13.1%

0

1

-100.0%

(No Sales)

$70,000

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%

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

$1000K $900K

Median Sale Price

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

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S

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