ELEVATE Magazine - RASM - September 2020 Issue

September 2020

Generational Trends in Real Estate: Know Your Market 6

What Contract Should I Use? 14 RealtorÂŽ Safety Month 24

Post Coronavirus Real Estate 27

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Manasota Key

Contents SEPTEMBER 2020

6

COVER STORY

GENERATIONAL TRENDS IN REAL ESTATE - KNOW YOUR MARKET The Silent Generation, Baby Boomers, Generation X, and of course, Millennials – it seems like we can’t escape being categorized (good or bad) in our respective label. There really are no standard definitions for when one generation begins and ends, but these labels are widely accepted for segmenting the population by age groups. Although we shouldn’t make broad assumptions on people based on what year they were born, we can take notice of certain trends that we see within these age groups. After all, the year we were born influences us and unites us in so many ways, as we have essentially grown up together.

14

What Contract Should I Use?

The answer to this question depends on your transaction. If your deal is commercial, use the FR commercial contract. If your deal is vacant land, use the FR vacant land contract.

4 | ELEVATE [ SEPTEMBER 2020 ]

24

Realtor® Safety Month

September is National Realtor® Safety month. This year has brought about many changes, and safety is now more on our minds than ever before.

12

Property Management Council

14

Realtor® Attorney Joint Committee

16 17 26

Government Affairs Market Analysis Young Professionals Network

27

Global Business Council

29

Neighborhood Spotlight

30 33

Calendar of Events

34

Professional Development Membership News

27

Post Coronavirus Real Estate As we move into the “new normal” of the future of international real estate, what does that look like?

There are several factors that will influence how buyers and sellers will change.

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.

Working During the Pandemic By: Jeff Arakelian, RASM CEO

L

ike all businesses, RASM has been impacted by the COVID-19 pandemic. We are constantly monitoring the severity of the pandemic in our region to include that factor in all of our decision-making.

Currently, the Association is holding meetings, classes, and events virtually, and anything in-person is kept to a minimum. We are continuing to deliver our programs, products and services to our members every day, although differently than in the past. The Association is accessible to members by appointment only, and most staff members are in the office daily.

“Today, it is encouraging to see the number of positive cases gradually coming down in Florida. It gives us hope that at some point, we’ll be able to return to some semblance of pre-COVID operations at the Association.

Today, it is encouraging to see the number of positive cases gradually coming down in Florida. It gives us hope that at some point, we’ll be able to return to some semblance of pre-COVID operations at the Association. Having said that, we recognize the world has changed.

For 2021, we are planning for both virtual and in-person programming as we assess the ongoing situation. We will continue to find new ways to provide you with the tools to support your business success. •

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

myRASM.com | 5

COVER STORY

Generational Trends in Real Estate: Know Your Market

T

he Silent Generation, Baby Boomers, Generation X, and of course, Millennials – it seems like we can’t escape being categorized (good or bad) in our respective label. There really are no standard definitions for when one generation begins and ends, but these labels are widely accepted for segmenting the population by age groups. Although we shouldn’t make broad assumptions on people based on what year they were born, we can take notice of certain trends that we see within these age groups.

After all, the year we were born influences us and unites us in so many ways, as we have essentially grown up together. It’s safe to assume that the majority of a people group who were influenced by the same major cultural events, political climate, music, arts, economy and opportunities over time, would think, work, and behave in a like-minded way.

No matter what category you fall into, if you’re working in the world of real estate, you’re bound to work with various people of all ages throughout your career. Realtors® unite people from different backgrounds, cultures, and age groups like no other profession. What other industry will you find successful business professionals ranging in ages from 18 to 80+, bound by a National Code of Ethics, working respectfully together, while also engaging in healthy competition with one another? You would be hard pressed to find anything that even comes close to the melting pot that is the real estate industry.

2020 HOME BUYERS AND SELLERS GENERATIONAL TRENDS REPORT

So how do we use this age group information to better our business? In a nutshell, we need to know our 6 | ELEVATE [ SEPTEMBER 2020 ]

audience. The Realtor® needs to know their customer.

They need to understand their perspective, needs and wants, that are often linked to generational trends.

To help us make sense of these trends, the National Association of REALTORS® (NAR) has generated the Home Buyers and Sellers Generational Trends Report.

This report provides insights into differences and similarities across generations of home buyers and sellers. The home buyer and seller data is taken from the annual Profile of Home Buyers and Sellers.1

MILLENNIALS

Due to the large age span within the Millennial group (typically ages 22- 39), in this year’s report, there is a segmentation of the Millennial generation: buyers 22 to 29 years (Younger Millennials/ Gen Yers) and buyers 30 to 39 years (Older Millennials/Gen Yers). Millennials made up the largest share of home buyers at 38 percent: Older Millennials made up 25 percent and Younger Millennials at 13 percent of the share of home buyers. Eighty-six percent of Younger Millennials and 52 percent of Older Millennials were first-time home buyers, more than other age groups. Another interesting trend highlighted in the report is that older Millennials had the highest share of married couples (67 percent), while Younger Millennials had the highest share of unmarried couples (21 percent) buying homes. Older Millennials were the most educated age group, with 79 percent holding at least a bachelor’s degree, followed by Younger Millennials.

Millennials truly are an interesting group to watch as they are such a large group and a dominate force in the housing market.1

According to Dr. Jessica Lautz, NAR Vice President of Demographics and Behavioral Insights, new trends in the national real estate landscape are emerging, especially within the large scope of the Millennial and Gen X group. In the July 2020 virtual NAR Communication Directors Institute, Dr. Lautz shared some interesting changes in home buyer preferences.

“Buyers today are seeking a home where they can have not only a less dense neighborhood but also more personal space in their home and their yard. They are seeking a home that provides a home office (or even two) and a yard for growing their own food and for exercise,” said Dr. Lautz.

In addition, the COVID-19 pandemic has definitely shaped the way we look at current and future home needs. Our homes need to meet more demands now – a home office, a school, a movie theater, a garden, a retreat from the world. As more people become accustomed to working from home (and doing everything else from home), commute time to workplaces and area attractions matter less. Things like good WIFI, extra space, land, and flexible home design matter more. Another interesting trend is the desire to move closer to friends and family. As many perceive traveling to be risky, the desire to live closer to the ones we love increases. This trend has actually been around even pre-COVID, as young families are relying more on family for childcare and overall assistance.

We see these trends emerging cross-generationally, but more specifically in the Millennial group because it is a massive generational group. In fact, it’s the largest adult living generational group.2 Coupled with this trend comes the harder issue of affordable housing. Even during the pandemic, housing prices continue to rise, and inventory remains low, making it harder for the younger generations, and first-time home buyers to get into the market. Some are now seeking housing outside the more heavily populated areas due to expense. 2 “There is a strong attraction of buyers to look at areas they may have been overlooked before in small towns and rural areas,” said Dr. Lautz. “These areas provide housing affordability to Millennials who may have been shut out of the housing market due to affordability constraints. This is a trend that is a continuation of what was seen last year as one quarter of young millennials moved to a small town to buy a more affordable home than what can be found in city centers.”

Dr. Lautz shares another new trend that we haven’t seen much of before - roommates purchasing homes together. First-time home buyers back in the 80s were predominately married couples, a staggering 75 percent. Today, we see a rise in single males and females purchasing first time homes, as well as unmarried couples. These are not couples, but unromantic partners who don’t want to live alone and want the investment of homeownership. Homeownership creates long term wealth, and younger home buyers are starting to invest in untraditional ways. These changes in dynamics are something that today’s Realtor® needs to be mindful of when establishing connections with new customers.2

GEN XERS Buyers aged 40 to 54 (Gen Xers) consisted of 23 percent of recent home buyers. This age group is recognized as being more established in their careers. They continue to be the highest earning home buyers with a median income of $110,900 in 2018. Correspondingly, buyers 40 to 54 purchased the second-most expensive homes at a median home price of $278,000. They also bought the largest homes in size at a median of 2,000 square feet. They came in as a close second behind Older Millennials as being most likely to be married and to have children under the age of 18 in their home. 1 The trend in the Gen Xers group is somewhat of a “rebound” from the housing market’s leaner days. Many in this age group fell victim to bad investments or foreclosure. As such, some in this group maybe more hesitant to purchase and they invest more cautiously.

Even so, Gen Xers are now buying again, and the trend is similar to that of the Millennial group in their desire for safe and friendly locations, close proximity to family and friends, and a high-rated school system.3

BOOMERS Buyers aged 55 to 64 (Younger Boomers) consisted of 18 percent of recent home buyers. Buyers aged 65 to 73 (Older Boomers) consisted of 15 percent of recent buyers. Younger Baby Boomers and Older Baby Boomers were broken into two separate categories in the report as they have differing demographics and buying behaviors. Buyers 55 to 64 purchased for an array of reasons such as the desire to own a home of their own, the desire to be closer to friends and family, and the desire to live in a better area. Interestingly, Younger Boomers were also the least educated home buyer age group, meaning there is a great opportunity for today’s Realtor® to educate this age bracket. They searched the longest for their homes at a median of 12 weeks and viewed a median of 10 homes. This trend indicates that this particular age group may need more patience and prefer more one-on-one attention before making such a significant purchase.1 [ Continued on page 8 ] myRASM.com | 7

COVER STORY CONTINUED There appears to be two different behaviors among Baby Boomers. Some Boomers are empty nesters, widowed, or just looking to downsize. In that case, they are looking to move to communities tailored to their new lifestyle. They also want to live among a population that is in the same age group they fall in. Others are looking to move to more walkable neighborhoods with restaurants, shops and nightlife.

One thing does seem consistent in the Boomer demographic: the desire to remain independent and to stay close to friends and family is very strong this generation.1

THE SILENT GENERATION Buyers 74 to 94 (The Silent Generation) represented the smallest share of buyers at six percent as well as 8 percent of all sellers. As most of these buyers were likely to have retired or scaled back their work demands, they had the lowest median household incomes. They were most likely to purchase a home or condo to be closer to friends and family and opted for a smaller, maintenance-free home. Buyers 74 to 94 were least likely to purchase a detached single-family home and most likely to purchase a multi-generational home or senior-related housing and they tended to purchase new homes. This age group also had the highest percentage of military veterans at 49 percent.

They were the least likely to rely on technology and are more reliant on in person interaction.1

RASM’S DEMOGRAPHICS So how do these demographic groups break down for RASM’s membership? Of RASM’s 7,000 members, 0.3 percent fall into the Gen Z category (pre-Millennial, born between 1995 and 2015). Millennials make up 15 percent of total RASM membership, 31 percent are Gen Xers, 29 percent are categorized as Young Boomers, and 17.5 percent fall into the Older Boomer category. Combined, the Boomers group equals 46.5 percent of RASM’s agents, the largest category of membership. The Silent Generation total 6.9 percent of membership, proving that real estate truly is one of the few professions that encompasses multiple generations.

The savvy Realtor® will recognize that these distinct groups will each approach our profession differently, with their own individual ideas and experiences.

We need to learn how to work respectfully and effectively within those different parameters, whether it’s negotiating with their fellow Realtor®, or their customer. 4

STRONG RELIANCE ON REALTORS® In the COVID environment, agents are relying more heavily on the use of a real estate agent. According to the NAR report, 89 percent of homebuyers used agents in their transaction because they needed someone they could trust. Consumer confidence in Realtors® is up as homebuyers want the experience of the Realtor® to help them negotiate terms and help safely search for a home. While the internet and virtual technology 8 | ELEVATE [ SEPTEMBER 2020 ]

needs have increased, buyers still need the help of a real estate professional. Sellers, as well, turned to professionals more in this especially competitive market. In addition, FSBO (for sale by owner) sales are down. This reliance on Realtors® encompasses all generations of buyers.5

STRONG RELIANCE ON TECHNOLOGY Even before the pandemic, Realtors® had already begun to make sizable increases in their use of technology and online tools in an effort to accommodate tech-savvy clients. The NAR 2020 Member Profile, an annual report that outlines members’ behaviors and characteristics over the preceding year, revealed that more than nine in 10 members use a smartphone and a computer on a daily basis. The report also states that just about all members regularly email clients and the majority of members use social media apps to communicate with clients.

However, text messaging is the preferred means of communication for Realtors® at 94 percent, closely followed by email at 91 percent, and telephone calls at 89 percent.5 Since the COVID-19 pandemic, the share of people putting contracts on unseen homes has increased significantly. According to NAR, about one quarter of their members working with a buyer have put contracts on homes sight unseen since the pandemic began. This means that agents today need to have an iron-clad understanding on how different technologies work. Even after the pandemic is over, the trend to utilize virtual resources is here to stay for the sake of convenience and ease to the buyer and seller.5

WHAT’S IN A NAME? Now it’s important to note labels such as these aren’t iron-clad. The cutoff time frames between one generation and another are somewhat arbitrary. We can’t pigeonhole people simply because they happened to be born within the same set time period. We don’t all fit into these finite boxes. But these groups are a good way to breakdown the differences in buying and selling trends, and in how we communicate with one another. The world that a Boomer grew up in is certainly not the same world of the Millennial. These differences do affect us, and influence our decisions, choices, and preferences. Like so many other aspects in life, staying educated, and informed is essential to forging good relationships. Mastering how to work successfully within all age groups is essential for today’s Realtor®, especially as we all navigate the ups and downs of our ever-changing world. • SOURCES:

1 | www.nar.realtor/research-and-statistics/research-reports/home-buyer-and-sellergenerational-trends

2 | Zoom conference: realtors.zoom.us/rec/play/u5csJryq_To3GdHHsASDB_IvW9XrfPqsgSIerqBe yEjnACYCZgeiYORDZ7BlMiHazk4bLQqYToCBQ-ba?startTime=1594136555000

3 | Real Estate Trends: Baby Boomers, Gen X, Millennials & Gen Z (www.aceableagent.com 4 | RASM internal membership report 5 | www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-ofhome-buyers-and-sellers#homebuyers

BUSINESS PARTNER SPOTLIGHT

Start to Finish Drafting & Design By: Cat Lubin, Start to Finish Drafting & Design

S

tart to Finish Drafting & Design has created thousands of custom home designs and renovation projects since they began in 2001.

But, arguably 2020 has been the strangest in the nearly 20 year history of the Sarasotabased company. And they are busier than ever...

With more people working from home, previously neglected renovation and addition projects have now been given fresh attention. At the same time, the process of onboarding drafting projects has adapted virtually, out of necessity. Some types

of projects are easier than others to initiate, while health concerns are keeping the company cautious and working responsibly.

Unsurprisingly, the top of the list of new projects includes new construction projects. With an updated survey and some great ideas, new design drawings can begin remotely quite easily. In addition, renovations on unoccupied buildings are especially easy to handle remotely. With an empty structure, drafters measuring or viewing the site need only to negotiate social distancing guidelines with themselves.

When necessary, an on-site, masked face-to-face meeting with the homeowner can assure all parties clarify the ultimate goals.

All things are possible, and even interior renovations can be explored with a little creativity.

Prearranging how we meet keeps us all safely doing what we do best. For more information, visit www. starttofinishdrafting.com. •

ANNUALMEETING LIVE Sept. 23 11 AM Facebook Live |

|

Join us on Facebook Live for - An association update from 2020 President, David Clapp - The election of 2021 Officers & Directors - Recognizing the new REALTOR® Emeritus and Florida REALTORS® Honor Society Members RSVP at MyRASM.com/AnnualMeeting myRASM.com | 9

PROFESSIONAL STANDARDS

Multiple Offers to be Presented Objectively By: National Association of REALTORS® Interpretations of the Code of Ethics Case #1-29 (Adopted November, 2002)

R

ealtor® A listed Seller S’s house. He filed the listing with the MLS and conducted advertising intended to interest prospective purchasers.

Seller S’s house was priced reasonably and attracted the attention of several potential purchasers.

Buyer B learned about Seller S’s property from Realtor® A’s website, called Realtor® A for information, and was shown the property by Realtor® A several times.

Buyer X, looking for property in the area, engaged the services of Realtor® R as a buyer representative.

Seller S’s property was one of several Realtor® R introduced to Buyer X. After the third showing, Buyer B was ready to make an offer and requested Realtor® A’s assistance in writing a purchase offer. Realtor® A helped Buyer B prepare an offer and then called Seller S to make an appointment to present the offer that evening.

Later that same afternoon, Realtor® R called Realtor® A and told him that he was bringing a purchase offer to Realtor® A’s office for Realtor® A to present to Seller S. Realtor® A responded that he would present Buyer X’s offer that evening.

That evening, Realtor® A presented both offers to Seller S for his consideration. Seller S noted that both offers were for the full price and there seemed to be little difference between them. Realtor® A responded, “I’m not telling you what to do, but you might consider that I have carefully pre-qualified Buyer B. There’s no question but that she’ll get the mortgage she’ll need to buy your house. Frankly, I don’t know what, if anything, Realtor® R has done to pre-qualify his client. I hope he’ll be able to get a mortgage, but you never can tell.” Realtor® A added, “Things can get complicated when a buyer representative gets involved. They make all sorts of demands for their clients and closings can be delayed. You don’t want that, do you? Things are almost always simpler when I sell my own listings,” he concluded.

Seller S, agreeing with Realtor® A’s reasoning, accepted Buyer B’s offer and the transaction closed shortly thereafter.

Upset that his purchase offer hadn’t been accepted, Buyer X called Seller S directly and asked, “Just to satisfy my curiosity, why didn’t you accept my full price offer to buy your house?” Seller S explained that he had accepted another full price offer, had been concerned about Buyer X being able to obtain

10 | ELEVATE [ SEPTEMBER 2020 ]

the necessary financing, and had been concerned about delays in closing if a buyer representative were involved in the transaction.

Buyer X shared Seller S’s comments with Realtor® R the next day. Realtor® R, in turn, filed an ethics complaint alleging that Realtor® A’s comments had intentionally cast Buyer X’s offer in an unflattering light, that his comments about buyer representatives hindering the closing process had been inaccurate and unfounded, and that Realtor® A’s presentation of the offer had been subjective and biased and in violation of Article 1 as interpreted by Standard of Practice 1-6.

At the hearing, Realtor® A tried to justify his comments, noting that although he had no personal knowledge of Buyer X’s financial wherewithal and while he hadn’t had a bad experience dealing with represented buyers, it was conceivable that an overzealous buyer representative could raise obstacles that might delay a closing. In response to Realtor® R’s questions, Realtor® A acknowledged that his comments to Seller S about Buyer X’s ability to obtain financing and the delays that might ensue if a buyer representative were involved were essentially speculation and not based on fact.

The Hearing Panel concluded that Realtor® A’s comments and overall presentation had not been objective as required by Standard of Practice 1-6 and found Realtor® A in violation of Article 1 • Published with the consent of the NATIONAL ASSOCIATION OF REALTORS®.

Copyright NATIONAL ASSOCIATION OF REALTORS®-All Rights Reserved.

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RASM NEWS YOU CAN USECOUNCIL PROPERTY MANAGEMENT

Tips on Traveling During a Pandemic By: Chantal Bachar, Broker, Coldwell Banker Vacations, Property Frameworks

A

fter having spent several isolated months due to the coronavirus, you may want to just pack up the car, or book a flight and go on a vacation. But wait! There is so much to consider when planning a trip during a pandemic. Here are some helpful tips that you may want to follow in order to keep you and your family safe during your time.

CONSIDER THE TRANSPORTATION Fortunately, gas prices are relatively lower now, so that is a definite plus. There are many great destinations for Floridians to take advantage of that are easily accessible and close to home. In addition, airlines have special deals right now as they have experienced extreme losses. However, be certain to review the airline policies on COVID-19 requirements, as each airline may be slightly different.

All information is posted on their website. Airports are doing a fantastic job of following strict cleaning guidelines, and consumer safety is their priority.

Remember to also check the guidelines on the state that you are traveling to as some locations will require you to quarantine.

WHERE TO STAY So many choices! There are lots of special deals available as the hospitality industry wants your business now more than ever. Hotels, resorts, and vacation rental properties have all been affected as a result of the guidelines set by Florida and local authorities back in May. Now, most are open and following all the necessary guidelines to keep you safe. As most foreign visitors are unable to travel right now, and some non-Florida residents may have to self-quarantine when they arrive at their Florida destination, there are plenty of extra options for Florida residents to choose.

PLAN AHEAD Remember to check your destination city or town for mask requirements, dining options, and activities that are available; you will want to know before you go! And plan accordingly. Not all area stores, dining, and attractions have re-opened, and some may have limited hours and seating restrictions. Call ahead to see if reservations are required. Remember to check back before you depart as the rules and guidelines seem to change almost daily.

STAY LOCAL This is a great time of year to explore new Florida towns you may not have thought about visiting before, especially if you had typically taken a cruise or fled up north for a “cooler weather” summer vacation. I have recently returned from a trip to the east coast of Florida. It was a nice time to enjoy outdoor activities such as biking, walking on the beach, and enjoying the local shops and outdoor dining. Be adventurous and enjoy all the great options our state has to offer.

Remember, when you plan a trip, whether a quick weekend away or a long vacation getaway, always plan ahead and grab extra masks, hand sanitizer, and sanitary wipes. Happy travels! •

12 | ELEVATE [ SEPTEMBER 2020 ]

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REALTOR® ATTORNEY JOINT COMMITTEE

What Contract Should I Use? By: Jeffrey A. Grebe, Board Certified Real Estate Attorney & Partner, Williams Parker

T

he answer to this question depends on your transaction. If your deal is commercial, use the FR commercial contract. If your deal is vacant land, use the FR vacant land contract. If your deal is residential, however, you have two basic choices – the FR-BAR standard contract or the FRBAR AS-IS contract. Real estate agents should consider all legal and practical considerations when deciding which form to use.

STANDARD CONTRACT The standard contract allows a buyer to inspect the property and requires a seller to repair items up to an agreed-upon repair limit (default being 1.5 percent of the purchase price). The same concept applies to wood-destroying organisms and open permits. The inspection and repair procedures under the standard contract can be difficult to understand and follow, even for a seasoned real estate agent. The following is a simplified summary of these inspection and repair provisions.

1 | Inspection: Buyer may have a general inspection done by a professional inspector within the inspection period, and buyer must notify seller within the inspection period of any repair items.

2 | Estimates: Seller must have the repair items estimated within ten days after receiving buyer’s repair notice.

3 | Estimates Under or Over Repair Limit: If the cost to repair all items is under the repair limit, seller must repair or replace all items. If the cost to repair exceeds the repair limit, then within five days after receipt of the last estimate, seller may notify buyer that seller will pay the excess, or buyer may notify seller which repairs to make up to the repair limit.

4 | Right to Terminate: If no such notice is given by buyer or seller, then either party may terminate the contract (agents beware)!

14 | ELEVATE [ SEPTEMBER 2020 ]

AS-IS CONTRACT Conversely, the AS-IS contract is quite simple seller does not have to repair anything or close any open permits. The buyer can terminate the contract within the inspection period if buyer is not satisfied with the condition of the property. Another difference is the AS-IS contract has no limitation on the type of inspections or who can do these inspections. For instance, under the AS-IS contract a buyer can get a mold inspection, which cannot be done under the standard contract (unless there is a separate mold inspection addendum). Practically speaking, to avoid termination seller will often agree to make certain repairs or alternatively agree to a repair credit or a price reduction. If seller agrees to make repairs, keep in mind there are no repair standards under the AS-IS contract, so buyer should require (by addendum) that all repairs be done by appropriately licensed persons and that receipts be provided.

Both the standard contract and the AS-IS contract have pros and cons, which sometimes vary depending on whether you represent a buyer or seller. A real estate agent should consider all these factors when deciding which contract is best for your deal. • Jeffrey A. Grebe is a partner at the Williams Parker law firm, and is the former chair of the RASM Realtor® Attorney Joint Committee.

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.

Soar

2020 RASM

VIRTUAL CONFERENCE

NOVEMBER 5TH / AN ALL DAY VIRTUAL EVENT

Reimagining Real Estate Given how our world has changed, now is the time to reassess, realign and restart your career. Soar is the perfect opportunity to gain the insight, make changes and reignite yourself.

What does this mean for you?

Soar is a one-day virtual event that will offer multiple tracks based on your area interest.

• Legal Topics • Technology Updates • Global and Property Management • Sales and Professional Development Each track will deliver an intensive educational experience that, at the end of the day, will be not only actionable but incredibly valuable.

Register early to secure your place.

Cost: FREE For more information go to myrasm.com/soar

GOVERNMENT AFFAIRS

Local and National Updates & Reminders By: Max Brandow, RASM Government Affairs Director

E

ven during a pandemic, we are experiencing an especially active third quarter.

CENSUS RESPONSES LAGGING IN FLORIDA REALTOR® Associations around the country have pledged to be partners in getting the word out about the U.S. Census. If we do not get a full count, Florida could miss out on representation in Congress, as well as a fair allotment of services for the state from the Federal Government. If you have not completed your census yet, you can still do it online at 2020census.gov.

Only 60 percent of Florida residents have completed the Census so far, which puts us at 32nd in terms of census returns amongst other states. Please take five minutes out of your day to complete this very important civic duty, and encourage your customers to do the same.

MULTIFAMILY OWNERS IN FORBEARANCE MUST NOW TELL TENANTS Last month, the FHFA announced that property owners who received mortgage forbearance from Fannie or Freddie must inform tenants in writing about tenant protections mandated by the Agency. Some tenants have had issues meeting their monthly rent, which has created problems for property owners of multifamily properties. FHFA previously announced additional tenant protections that apply:

Giving tenants at least a 30-day notice to vacate Not charging tenants late fees or penalties for nonpayment of rent Allowing tenants the flexibility to repay back rent over time and not in a lump sum “Landlords in forbearance must notify their tenants that they cannot be evicted for nonpayment of rent

16 | ELEVATE [ SEPTEMBER 2020 ]

due to the pandemic,” says Director Mark Calabria. “If tenants are able to pay their rent, they should continue to do so.”

For more information on pandemic-related housing assistance, visit the joint website operated by the Department of Housing and Urban Development, FHFA and CFPB at cfpb.gov/housing.

NAR URGES CONGRESS TO SUPPORT RENTAL ASSISTANCE NAR, along with a broad group of real estate industry partners, has asked Congress for relief for multifamily properties. We are seeing more and more tenants miss rent obligations during this pandemic, and NAR has strongly urged Congress to support rental assistance to ensure families do not lose their homes.

We are asking that this assistance be given directly to housing providers to ensure that rental housing remains viable, and property owners are able to meet their obligations as well. • Source: Florida REALTORS® and NAR

MARKET ANALYSIS

Now is the Time to Sell; Increased Sales and Buyer Demand in Sarasota-Manatee By: Gina White, RASM Communications and Marketing Director

T

he Sarasota and Manatee housing market reports renewed demand with a rise in sales, new listings, pending sales, and pending inventory in July of 2020. According to the reports compiled

by Florida Realtors® and provided by the Realtor® Association of Sarasota and Manatee, closed sales in July increased by 24.1 percent from the same month last year. The market continues to favor the seller with a rise in demand and a decrease in inventory.

“Pending sales continue to exceed any possible expectations we ever could have had when this pandemic hit,” said David Clapp, 2020 President of the Realtor® Association of Sarasota and Manatee. “Recordlow interest rates combined with the release of pentup demand from a less-than-normal Spring market has amplified the Sarasota-Bradenton marketplace. We expect to see continued demand and a robust market in the months ahead.”

Last month’s closed sales across the two-county market totaled 2,426 sales, a 24.1 percent increase from July of 2019. In Manatee County, single-family closed sales increased by 26.7 percent to 774 sales and condos increased by 16.5 percent to 276 sales. In Sarasota, single-family homes increased by 21.9 percent to 978 sales and condos increased by 30.5 percent to 398 sales.

For the second consecutive month, pending sales increased in all markets in Sarasota and Manatee counties with a combined 36.2 percent jump from July of last year. For single-family homes, pending sales rose by 33.1 percent in Manatee and by 33 percent in Sarasota. The condo market showed a 47.9 percent increase in pending sales in Sarasota and a 38.9 percent increase in Manatee.

Median sales prices for both single-family homes and condos rose year-over-year in July. Single-family prices in Manatee County increased by 10.5 percent to $358,963 and in Sarasota, prices increased by 12.8 percent to $327,250. Condo prices increased by 15.2 percent to $220,000 in Manatee and rose by 7.1 percent to $240,000 in Sarasota County. The median is the

midpoint of all sales prices; half the homes sold for more, half for less.

New listings also continued an upward trend with a combined 26.1 percent increase for the two counties. Condo new listings increased by 62.4 percent in Manatee County and by 34.6 percent in Sarasota.

For single-family homes, new listings increased by 19 percent in Manatee and by 18.9 percent in Sarasota.

On the supply side, active inventory listings are lower than a year ago. Year-over-year, the combined inventory in both counties decreased by 24.2 percent.

Condo inventory decreased by 11.5 percent in Sarasota and by 4 percent in Manatee. Single-family home inventory decreased by 34 percent in Sarasota and by 30.2 percent in Manatee.

Inventory is lower than a year ago, but buyer interest remains high especially when fueled by low mortgage rates. “We are concerned by the decreasing months’ supply of inventory. July’s numbers dropped to approximately 2.3 months supply for single-family homes and 3.8 months for condos. Six months is considered a balanced market,” added Clapp. “Weekly sales continue to outpace new listings coming onto the market. When supply goes down and demand goes up, sellers have the upper hand.”

“Under these conditions, buyers hoping to close on a home should expect some competition and bidding wars, especially for each new property that comes into the market,” added Clapp. “If you have considered selling your home now is the time to sell with a Realtor® who can ensure safe marketing and showings of your home in a COVID-19 environment.”

As for the months’ supply of inventory, singlefamily homes stayed under a 3-month supply in July with a 36.8 percent decrease in Sarasota (2.4 months) and a 32.4 percent decrease in Manatee (2.3 months).

Condo supply decreased by 2.7 percent to 3.6 months in Manatee and by 18.4 percent to a 4-month supply in Sarasota. The months’ supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace.

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 - July 2020 Single Family Homes Sarasota County July 2020

July 2019

Percent Change Year-over-Year

978

802

21.9%

292

249

17.3%

Median Sale Price

$327,250

$290,000

12.8%

Average Sale Price

$444,431

$386,220

15.1%

$434.7 Million

$309.7 Million

40.3%

96.3%

95.5%

0.8%

Median Time to Contract

41 Days

58 Days

-29.3%

Median Time to Sale

90 Days

105 Days

-14.3%

New Pending Sales

979

736

33.0%

New Listings

907

763

18.9%

Pending Inventory

1,355

998

35.8%

Inventory (Active Listings)

1,687

2,555

-34.0%

Months Supply of Inventory

2.4

3.8

-36.8%

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 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 A M J J

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 A M J J

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 A M J J

2016

2017

2018

2019

18 |byELEVATE [ SEPTEMBER 2020by ] Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.

Produced Florida REALTORSÂŽ with data provided Data released on Friday, August 21, 2020. Next data release is Tuesday, September 22, 2020.

2020

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

July 2019

Percent Change Year-over-Year

774

611

26.7%

186

142

31.0%

Median Sale Price

$358,963

$325,000

10.5%

Average Sale Price

$476,011

$391,049

21.7%

$368.4 Million

$238.9 Million

54.2%

96.8%

95.9%

0.9%

Median Time to Contract

37 Days

53 Days

-30.2%

Median Time to Sale

80 Days

99 Days

-19.2%

New Pending Sales

809

608

33.1%

New Listings

775

651

19.0%

Pending Inventory

1,091

868

25.7%

Inventory (Active Listings)

1,310

1,877

-30.2%

Months Supply of Inventory

2.3

3.4

-32.4%

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 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 A M J J

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 A M J J

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 A M J J

2016

2017

2018

2019

2020

myRASM.com | 19

Produced by Florida REALTORSÂŽ with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.

Data released on Friday, August 21, 2020. Next data release is Tuesday, September 22, 2020.

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

July 2019

Percent Change Year-over-Year

398

305

30.5%

184

162

13.6%

Median Sale Price

$240,000

$224,000

7.1%

Average Sale Price

$347,776

$307,526

13.1%

$138.4 Million

$93.8 Million

47.6%

95.0%

94.4%

0.6%

Median Time to Contract

74 Days

79 Days

-6.3%

Median Time to Sale

113 Days

125 Days

-9.6%

New Pending Sales

451

305

47.9%

New Listings

424

315

34.6%

Pending Inventory

704

556

26.6%

Inventory (Active Listings)

1,373

1,552

-11.5%

Months Supply of Inventory

4.0

4.9

-18.4%

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 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 A M J J

Median Sale Price

$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 A M J J

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 A M J J

2016

20 | ELEVATE [ SEPTEMBER 2020 ]

2017

2018

2019

Produced by Florida REALTORSÂŽ with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.

Data released on Friday, August 21, 2020. Next data release is Tuesday, September 22, 2020.

2020

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

July 2019

Percent Change Year-over-Year

276

237

16.5%

124

121

2.5%

Median Sale Price

$220,000

$191,000

15.2%

Average Sale Price

$270,527

$216,523

24.9%

$74.7 Million

$51.3 Million

45.5%

95.7%

95.0%

0.7%

Median Time to Contract

64 Days

57 Days

12.3%

Median Time to Sale

107 Days

103 Days

3.9%

New Pending Sales

307

221

38.9%

New Listings

333

205

62.4%

Pending Inventory

406

286

42.0%

Inventory (Active Listings)

799

832

-4.0%

Months Supply of Inventory

3.6

3.7

-2.7%

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 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 A M J J

Median Sale Price

$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 A M J J

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 A M J J

2016

2017

2018

2019

2020

myRASM.com | 21

Produced by Florida REALTORSÂŽ with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.

Data released on Friday, August 21, 2020. Next data release is Tuesday, September 22, 2020.

Reach Further

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and Soar to New Heights.

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

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RASM NEWS

Realtor® Safety Month

S

eptember is National Realtor® Safety month.

This year has brought about many changes, and safety is now more on our minds than ever before. The idea of staying safe now also means keeping healthy from the coronavirus, and we all know by now what precautions and safeguards to take. In addition to the pandemic concerns, now is a great time to remind ourselves of other basic Realtor® safety tips.

CYBER SAFETY Many Realtors® are utilizing the conveniences of technology now more than ever to conduct business.

Realtors® need to be aware that in our current climate, cybercrime is on the rise. Computer viruses, wire fraud, and dishonest “home seekers” are very real threats. Realtors® need to be especially mindful of who they are working with and vet them thoroughly before conducting business.

It’s a good idea to install virus protection on your computer and schedule routine, professional assistance in maintaining a secure computer network. Identify theft is always a concern as well, especially during these challenging times when we might be more vulnerable to attack.

The housing marking has gained quite a bit of momentum in the past few months, and thankfully many of us are once again busy in the day-to-day business of real estate. It’s especially important not to become distracted and forget vital safety measures.

NAR RESOURCES NAR has a wealth of resources to help agents and brokers better understand and educate each other about the safety risks they face. From planning your

personal safety strategy to extensive safety resources, including apps, products, and educators, NAR has many useful items for all real estate professionals. The NAR website has scheduled safety webinars, numerous safety articles, videos, and a safety alert program. For more detailed information on the NAR programs, visit www.nar.realtor/safety.1

MEMBER SAFETY REPORT In addition, NAR produces an annual Member Safety Report, which is designed to keep the Realtor® safe and aware of potential dangers. This report focuses on making the Realtor® aware of their surroundings and empowering them with precautions and preparations so that you can avoid risky situations.

Highlights from the 2019 report include:

33 percent of Realtors® experienced a situation

that made them fear for their personal safety or safety of their personal information.

The typical Realtor® reported feeling unsafe less than once a year (54 percent) in terms of personal safety, but unsafe in terms of personal information every few months or more often (61 percent).

5 percent of Realtors® said they had been a victim of a crime while working as a real estate professional.

44 percent of members choose to carry selfdefense weapons.

53 percent of members use a smartphone safety app to track whereabouts and alert colleagues in case of an emergency.

To read the report in its entirety, visit www.nar. realtor/research-and-statistics/research-reports/ member-safety-report.2

REALTOR® SAFETY NETWORK NAR now offers a REALTOR® Safety Network to notify members across the country of safety concerns and emergencies. Members can report any serious issues at nar.realtor/safety. These resources are here to help you, the Realtor®, stay safe in every aspect of your job. Working with the public will always include risks as there are constant uncertainties. However, its very important to note, if you have been a victim of a crime, or if you’re in a dangerous situation, you need to contact your local police department immediately.

Your safety is our top concern.2 • Sources: 1 | www.nar.realtor/safety 2 | www.nar.realtor/research-and-statistics/research-reports/member-safety-report

24 | ELEVATE [ SEPTEMBER 2020 ]

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How to Keep Pushing Through the Pandemic By: Alexandria Twigg, Team Leader and Broker Associate with Lucido Global of Keller Williams On The Water Sarasota

I

t’s 2020, a new year that’s off to an amazing start - a new decade, a new turn. Then comes March 2020, and the world stops.

No one knows what to expect with this strange pandemic, or what is going to come next.

BOOMING HOUSING MARKET Well, for one thing, the housing market didn’t crash. In fact, it’s booming, something no one ever expected. From multiple offers and bidding wars, we are definitely experiencing a seller’s market. The pandemic brought new ways for us to learn how to work, from Zoom meetings and Google Meet to FaceTiming our clients at showings; we have learned and we adapted.

THE YPN - WORKING TOGETHER Something else that has helped me so much this year especially is the YPN. Together, we learned new tips and tricks on how to succeed in this changing world. The YPN recently started a new book club. We

26 | ELEVATE [ SEPTEMBER 2020 ]

just read The Financial Diet, written by Lauren Fagan.

There are so many financial obligations when starting in real estate, and so many different avenues you can take, and this book really helped all of us to gain a fresh perspective on our finances.

FINANCIAL TIPS We learned about cutting expenses, living below our means, and figuring out how to maneuver our life on a budget. This book was extremely helpful as we are all navigating these uncharted waters together.

In addition, we learned tips like using the Mint app, a free budgeting app that syncs users’ bank accounts, credit cards, and PayPal. We also learned about the app Acorn, which is an investment app designed to track and save money.

This book, and the great friendships I’ve gained, would not have been part of my life if it wasn’t for YPN. This dedicated team of masterminds is helping us all learn how to succeed in real estate.

For more information on the YPN, check out the Facebook page at facebook.com/rasmypn. •

GLOBAL BUSINESS COUNCIL

Post Coronavirus Real Estate Considerations By: Dave Swenson, Broker/Owner, 1st Premier International Properties

A

s we move into the “new normal” of the future of international real estate, what does that look like?

There are several factors that will influence how buyers and sellers will change.

LIFESTYLE RE-EVALUTION: All of us will have gone through a period of forced isolation and an extended timeline with “social distancing.” How will people alter their views of living their lives? Will the time that we’ve had without all the normal trappings of our social lives cause us to consider new priorities? If we were forced to work from home, have we come to welcome this new “reality?” What about the synergistic aspects of in-person camaraderie in an office setting? As an international real estate practitioner, we need to think through all the possibilities of these lifestyle impacts and how they will factor into the decisions of our international clientele moving forward.

URBAN FLIGHT TO SUBURBS As the densely populated cities have born the brunt of the pandemic, there will be people who will

opt for a suburban, or smaller city location, especially if they have opted for a virtual office setting for their business. This trend will affect the values of properties in various ways. It will be an important trend to consider and having a strategic outlook will be helpful in advising decisions on buying or selling. This may be an opportunity for second home purchases in urban areas for our international clientele.

CURRENCY FLUCTUATIONS Historically, the U.S. has had one of the most stable currencies in times of global uncertainty, so there may be opportunities for U.S. residents to invest abroad for properties post-pandemic. At the same time, with a strong dollar, this may provide a strong incentive to our international sellers to divest themselves of their properties here in the U.S. As a savvy international practitioner, staying abreast of the trends and geopolitical factors will help to uncover opportunities to help our international clientele.

NEW AMENITIES TO PROPERTIES With the pandemic, people have had to reconsider their participation in public settings and crowded locations at gyms, pools, concerts, offices, and other outdoor sporting activities. This may create a higher demand in the luxury international buyer segment to incorporate these features into their primary homes (home gyms, pools, sauna, or tennis courts, for example). Another likely trend will be that every home will have a dedicated home office environment.

Broadband internet will be an absolute necessity for everyone in the “new normal” of the post-pandemic world.

STAY INFORMED The most important thing that we as international practitioners must do at this time of uncertainty is to stay informed and prepared as we emerge from the pandemic. Attitudes will be different and there will be more variables to consider when advising our international clientele. Education and staying abreast of current information will be critical to ensure we are productive and professional in the new global marketplace. •

myRASM.com | 27

RASM NEWS

Employee Anniversaries

R

ASM happily recognizes the workplace anniversaries of our professional staff.

Brandon Gay Communications and Marketing Coordinator, celebrates his second year with the Association this month.

Since his move from Illinois a few years ago, Brandon has adjusted very well to the Florida way of life by staying inside in the A/C and only leaving to go to the golf course.

Brandon assists RASM with all marketing and communication efforts, including shooting and editing videos, updating the website, email and social media, and working closely with RASM staff.

RASM CEO, Jeff Arakelian, celebrates 3 years with the Association this month.

“My third year with RASM is not one that I could have imagined,” said Jeff.

“COVID-19 changed almost everything.

One constant for our Association is how we strive to meet our members needs to support their business success. Our Association must re-examine our existing programs and deliver new programs, products, and services in ways we haven’t thought of before.”

Jeff maintains that he is fortunate to work with dedicated member leaders and a talented staff. In his spare time, you can find Jeff on the golf course, at the gym, or at home like everyone else these days. •

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.

28 | ELEVATE [ SEPTEMBER 2020 ]

COMMITMENT TO E XC E L L E N C E

C2EX.realtor

NEIGHBORHOOD SPOTLIGHT

Cresswind Lakewood Ranch Offers Contemporary Home Designs By: John Manrique, Senior Vice President of Marketing, Kolter Homes

A

ctive adults have unique needs and interests when shopping for new homes. Kolter Homes, the builder and developer behind Cresswind Lakewood Ranch, understands this and offers 55+ home shoppers something different. Cresswind is the newest 55+ village in Lakewood Ranch, with a lifestyle and living concept that has earned numerous national and regional awards over the last decade.

Active, fulfilling social programming is key to the Cresswind concept. The amenities offered at Cresswind Lakewood Ranch – including a residentexclusive clubhouse (currently under construction for a 2021 opening) – are designed around fitness and relationships. This proven formula promotes happier, healthier living, and is led by a full-time lifestyle director trained in the Cresswind fundamentals. A wide range of activities is supported by features such

as a fitness center, cardio studio, arts and crafts with a kiln, game and activity rooms, resistance and resortstyle pools, pickleball, tennis, small and large breed dog park, event plaza and much more.

Beyond the clubhouse, residents can comfortably stroll and socialize along wide walkways with streetlights for morning, afternoon, and evening enjoyment. The community is also connected to Lakewood Ranch’s pathways for easy access to Main Street.

Cresswind Lakewood Ranch offers 19 different floorplans with open concept layouts and flex spaces.

The Florida contemporary architectural style is highlighted by more windows with 8’ doors and volume ceilings to welcome an abundance of natural light. Homes range from 2- to 5-Bedrooms, with 2- and 3-Car Garages, and up to 3,574 square feet under air.

Prices start in the $300s.

The Cresswind Lakewood Ranch model center is open daily from 10 a.m. – 6 p.m. Cresswind Lakewood Ranch is located at 5063 Simons Court, Lakewood Ranch, FL 34211. For more information, call (941) 2177980 or visit CresswindLakewoodRanch.com. •

Artist Rendering myRASM.com | 29

SEPTEMBER 2020

CALENDAR OF EVENTS MONDAY, AUGUST 31 8:00 a.m.

GRI 103 (Day 1) [ South ]

WEDNESDAY, SEPTEMBER 16 7:30 a.m.

Toastmaster [ Online ]

1:00 p.m.

Digital Safety – Keep You and Your Clients Secure [ Online ]

TUESDAY, SEPTEMBER 1 8:00 a.m.

GRI 103 (Day 2) [ South ]

WEDNESDAY, SEPTEMBER 2

THURSDAY, SEPTEMBER 17 8:00 a.m.

GRI 301 (Day 1) [ Online ]

1:00 p.m.

Investing in Foreign Property [ Online ]

7:30 a.m.

Toastmasters [ Online ]

9:00 a.m.

Move the Body, Connect the Mind, Build Your Business [ Online ]

FRIDAY, SEPTEMBER 18

Pitch & Drink [ Online ]

8:00 a.m.

GRI 301 (Day 2) [ Online ]

9:00 a.m.

CREA Marketplace [ Online ]

9:30 a.m.

Working with Seniors (FR iCE) [ Online ]

4:00 p.m.

FRIDAY, SEPTEMBER 4 9:00 a.m.

CREA Marketplace [ Online ]

MONDAY, SEPTEMBER 28 8:30 a.m.

Launching You Global Real Estate Business [ Online ]

10:30 a.m. What the Flood? (Manatee County) [ Online ]

TUESDAY, SEPTEMBER 29 8:00 a.m.

Certified Luxury Home Marketing (Day 1) [ Online ]

8:30 a.m.

Launching Your Professional Management Business [ Online ]

WEDNESDAY, SEPTEMBER 30 8:00 a.m.

Certified Luxury Home Marketing (Day 2) [ Online ]

9:00 a.m.

At Home With Diversity [ Online ]

MONDAY, SEPTEMBER 21 WEDNESDAY, SEPTEMBER 9 9:00 a.m.

9:00 a.m.

New Member Orientation [ Online ]

1:00 p.m.

REALTOR® Safety – Smart Business [ Online ]

Intro to Contracts [ Online ]

THURSDAY, SEPTEMBER 10 8:45 a.m.

Business Partner Meeting [ TBD ]

FRIDAY, SEPTEMBER 11 9:00 a.m.

CREA Marketplace [ Online ]

MONDAY, SEPTEMBER 14 8:30 a.m.

1:30 p.m.

11:00 a.m. Annual Meeting Live [ Online ]

THURSDAY, SEPTEMBER 24 8:00 a.m.

GRI 302 (Day 1) [ Online ]

8:45 a.m.

YPN Trolley Tour [ TBD ]

The ADA & Commercial Real Estate [ Online ]

9:00 a.m.

Social Media Bootcamp [ Online ]

9:00 a.m.

Code of Ethics [ Online ]

Tenants, Toilets & Tornadoes [ Online ]

1:00 p.m.

Core Law [ Online ]

TUESDAY, SEPTEMBER 15 8:30 a.m.

WEDNESDAY, SEPTEMBER 23

Best Practices for Real Estate [ Online ]

12:30 p.m. A Guide to Managing Short-Term Rentals [ Online ]

30 | ELEVATE [ SEPTEMBER 2020 ]

EVENT TIMES & LOCATIONS SUBJECT TO CHANGE During these challenging times, all calendar event times, dates, and locations are subject to change.

The events on this calendar are set to take place either virtually or inperson at a RASM location. We will continue to monitor this situation and the safe return of in-person classes and events.

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

FRIDAY, SEPTEMBER 25 8:00 a.m.

GRI 302 (Day 2) [ Online ]

9:00 a.m.

CREA Marketplace [ Online ]

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

UPCOMING CLASSES UPCOMING CLASSES

BEST PRACTICES FOR REAL ESTATE

Learn more at myrasm.com/calendar to register.

GRI 103 Mon, Aug. 31 - Tues, Sept. 1 8:00 a.m. – 5:00 p.m.

[ South ]

GRI 103 brings awareness to the latest developments in Finance. Negotiating and Counseling teaches you how arrive at successful outcomes, and the Law section helps you avoid danger zones. Members $30. 11 CE HRS.

MOVE THE BODY CONNECT THE MIND BUILD YOUR BUSINESS Wednesday, September 2 9 – 11:00 p.m.

[ Online ]

This is a 2-hour comprehensive workshop on how your health and wellness is essential in your business model.

Members $17.

NEW MEMBER: INTRO TO CONTRACTS Wednesday, September 9 9:00 a.m. – 3:00 p.m.

[ Online ]

ADA & COMMERCIAL REAL ESTATE

A GUIDE TO MANAGING SHORT TERM RENTALS Tuesday, September 15 12:30 – 4:30 p.m.

[ Online ]

Property management is a common niche for many real estate practitioners, however, short term renting is its own niche, it’s important to understand the laws, regulations and day to day operations and requirements. Members $15. 4 CE HRS.

DIGITAL SAFETY: KEEP YOU AND YOUR CLIENTS SECURE [ Online ]

This 3-hour seminar covers social media, cyber safety, online and technology safety specifically for real estate agents. Agents will learn to protect consumers in a safe manner utilizing technology. Members $15. 3 CE HRS.

WORKING WITH SENIOR CITIZENS [ Online ]

Your Commercial real estate customers need to be made aware of the requirements contained in the Americans with Disabilities Act (ADA). This will enable your customer to use due diligence when choosing a business location. Members $15. 4 CE HRS.

TENANTS, TOILETS AND TORNADOES Monday, September 14 1:30 – 4:30 p.m.

[ Online ]

Learn ways to follow policies and procedures that ensure you are following the rules and regulations of the Real Estate Commission, while also learning to improve relationships with customers, clients and the public. Members $15. 3 CE HRS.

Wednesday, September 16 1:00 – 4:00 p.m.

In this class, students will be introduced to the basic elements of a real estate contract. Members Free.

Monday, September 14 8:30 a.m. – 12:30 p.m.

Tuesday, September 15 8:30 – 11:30 a.m.

[ Online ]

As property managers, you have to wear a lot of hats!

Take this course and learn how maintenance can be your opportunity to shine. Set yourself apart as a true professional, making the landlord and tenant happy, all without breaking the landlords bank, but most importantly without breaking the law. Members $14. 3 CE HRS.

Friday, September 18

9:30 a.m. – 12:30 p.m.

[ Online ]

The objective of this course is to help Realtors® better understand the mindset of senior citizens as it relates to real estate and real estate finance. Take away a greater appreciation and knowledge base for working with Florida’s older citizens. This class is part of the Florida REALTORS® virtual series that is live streamed from Orlando. Members $10. 3 CE HRS.

REALTOR® SAFETY – SMART BUSINESS Monday, September 21

1:00 – 3:00 p.m.

[ Online ]

Safety should be at the top of the list of things every Realtor® should be concerned about. We meet complete strangers that in any other venue we would be suspicious of, but in the context of being a customer, we trust them fully. Take this course and learn tips on how to put SAFETY FIRST! Members $5. 2 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 GLOBAL REAL ESTATE PRACTITIONER: LAUNCHING YOUR GLOBAL REAL ESTATE BUSINESS Monday, September 28

8:30 a.m. – 5:00 p.m.

[ Online ]

The Global Real Estate Practitioner (GREP) Certification is awarded to those who have taken additional global initiative. The real estate professionals who have the GREP Certification are ready to serve their global clients at the highest level of client service. Members $35. 4 CE HRS.

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. Topics include navigating the system, setting up a property search, direct and auto emails, managing contacts, and personalizing the Matrix system.

MLS COMPLIANCE 101 WHAT THE FLOOD? (MANATEE COUNTY) Monday, September 28 10:30 – 11:00 a.m.

TBD 1:00 p.m. – 2:15 p.m. [ Online ]

Flood insurance is changing for the West Coast of Florida.

FEMA and the National Flood Insurance Program (NFIP) is currently making a revision that drastically affects flood insurance rates as well as construction guidelines for new construction. Members Free.

LAUNCHING YOUR PROFESSIONAL PROPERTY MANAGEMENT BUSINESS Tuesday, September 29

8:30 a.m. – 4:00 p.m.

[ Online ]

Professional property management is an expanding field. Now, more than ever, the market needs quality professional property management professionals. Many people have an interest in property management from managing their own properties to the attractive nature of the residual income stream. Members $32.

[ 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. It is critical that we share accurate data, and additionally, enter listings in a way to maintain the cooperative nature of the MLS. This required class for new subscribers reviews the MLS comprehensive Rules & Regulations to ensure that all users have access to the best data possible.

MLS ADDING & EDITING LISTINGS TBD 2:30 p.m. – 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.

CERTIFIED LUXURY HOME MARKETING SPECIALIST Tues., Sept. 29 - Wed., Sept 30 11:00 – 5:00 p.m. [ Online ]

Two days of immersive luxury real estate training where you’ll gain invaluable insight to help you win higher-priced listings, position yourself as a luxury expert, market luxury homes, find prospective buyers for your properties, and much more. Members $495.

AT HOME WITH DIVERSITY Wednesday, September 30 9:00 a.m. – 5:00 p.m. [ Online ]

Realtors® know the importance of adapting and remaining relevant in today’s marketplace. By developing a business practice rooted in inclusion and equality, Realtors® can help buyers of all cultural backgrounds achieve the dream of homeownership. Members $432. 7 CE HRS.

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

32 | ELEVATE [ SEPTEMBER 2020 ]

941-556-8895 Sharonb@CoastalPrint.com

CoastalPrint.com 4391 Independence Court Sarasota, FL 34234

PROFESSIONAL DEVELOPMENT

Realtor® Safety Month Virtual Classes By: Denise Ricciotti, RASM Professional Development Manager

T

he National Association of Realtors® has dedicated September as REALTOR® Safety Month.

Knowledge, awareness and empowerment are important in being prepared and safe, which is why RASM is offering these upcoming virtual educational classes that will help protect you and your clients: September 16, 1:00 p.m. - Digital Safety-Keeping you and your Clients Secure September 21, 1:00 p.m. - Realtor® Safety- Smart Business

CERTIFIED LUXURY HOME MARKETING SPECIALIST Whether you are a seasoned pro or a brand-new real estate professional who wants to know how to work with luxury clients, The Luxury Institute will help you gain valuable insights into the world of Luxury Real Estate. This course helps real estate professionals provide high quality service to the buyers and sellers of luxury homes. Join this live streaming session to become a Certified Luxury Home Marketing Specialist on September 29 and 30.

NEW DESIGNATIONS & CERTIFICATIONS At Home With Diversity (AHWD) Edward Francis Busch, Fine Properties Gloria Maria Elwell, EXP Realty LLC Joseph Franklin Harris, Keller Williams On The Water Tina M. Johns, Coldwell Banker Realty Brian Dean Johnson, Berkshire Hathaway HomeServices Florida Realty Kristen L. Kesling, Preferred Prop Of Sarasota Alexis Kim, Premier Sothebys Intl Realty Andrew Martell, Keller Williams On The Water

Pamela M. Nadalini, Nadalini & Company Inc Enrique Pascual, Michael Saunders & Company Robert D. Paul, RE/MAX Platinum Realty Anna Reyes, Coldwell Banker Realty Michael Sangbush, Keller Williams On The Water Stormy Robin Sharp, Medway Realty Patricia A. Sielski, Future Home Realty Inc Julie Ann Soriero, Wagner Realty Joyce Marie Steward, Joyce Marie Steward R E Broker C2EX Saundra Lynn Hinton, Keller Williams On The Water Patrick M. Shannon, Michael Saunders & Company Lee D Forbes, Forbes Property Group Shana Lee, Key Solutions Real Estate Grp Caldwell Allen Smith, RE/MAX Alliance Group Certified International Property Specialist (CIPS) Nina Lorene Hermann PLLC, Keller Williams Realty Select Stephen Michael Sneller, Wagner Realty Mariel Rovagnati, Coldwell Banker Realty e-PRO® Mikhail Shkrob, Quality Int’l Real Estate NAR’s Green Designation Stephen Michael Sneller, Wagner Realty Sharadan Michelle Edmonds, Allison James Estates & Homes Military Relocation Professional (MRP) Enrique Pascual, Michael Saunders & Company Resort & Second Home Property Specialist M. Jenine Meyer, Michael Saunders & Company Nicolas Frujani Mora, Florida Life Team LLC Short Sale & Foreclosure Resource (SFR®) Leah Marie Noriega Preval Serrano, EXP Realty LLC Seller Representative Specialist (SRS) Anna Reyes, Coldwell Banker Realty Kim Christine Wright, Coldwell Banker Realty Christopher Takeda, Exit King Realty Leah Marie Noriega Preval Serrano, EXP Realty LLC Colette D. Jay, Horizon Realty International Alice Caplan, Madison Allied LLC Lisa L. Gullick, Premier Sothebys Intl Realty Chantelle M. Lewin, Wagner Realty • myRASM.com | 33

MEMBERSHIP NEWS

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

NEW DESIGNATED REALTORS®

Jane V. Boone, Boone and Associates, Inc. Mark E. Borg, Markangel Realty Denis Joseph Burke, First America Realty Laura Christiano, RE/MAX Trend Kevin C. Cloutier, Cre8tive Realty Inc Michelle Christine Dunbar, Michelle Dunbar, Licensed Real Estate Broker Robert J. Fletcher, Bass Fletcher & Associates, Inc. Frank D. Lauber, Frank D Lauber, Real Estate Broker James Gary Turner, PAMCO

NEW REALTORS®

Veronica Alves Machado, Key Solutions Real Estate Grp Allison Aucar, KW Suncoast Steven P. Baron, Keller Williams Realty Select Beth W. Bernet, Island Real Estate-Anna Maria Judith Bezeau, Bright Realty Phillip Bishop,Realty One Group Skyline James Joseph Brock, Keller Williams On The Water Gabriel Caballero, London Foster Realty Kelli Cain, KW Suncoast Victoria Mary Campbell, NextHome KD Premier Realty Dolores Castellanos, La Rosa Realty Central Florida Min Jeong Chang, Premier Plus Realty Lisa Chemat, Sarasota Real Estate Group April Knight Cintron, Platinum Real Estate Jonathan Clauson, Kingston Realty Sean Collier, Coldwell Banker Realty Drake Corbino, KW Suncoast Bernadette Mary Cornelio, Coldwell Banker Realty Jason Mark Courie, EXP Realty LLC Jessica Cusack, KW Suncoast Natalie Damaso, Coldwell Banker Realty Vered Danenberg Lerner, Weichert Realtors® Hallmark Pro Brynna Davis, Better Homes & Gardens Real Estate Atchley Properties Judy Grunden Davis, Michael Saunders & Company Richard James Davis, Coldwell Banker Realty Renee’ E Dettmann, Keller Williams On The Water Donna DiDiego, Bright Realty Kathy Dietz, Premier Sothebys Intl Realty Chris Ekeberg, Coldwell Banker Realty Amanda Erdman, Bright Realty Debra A. Foulks, Exit King Realty 34 | ELEVATE [ SEPTEMBER 2020 ]

Kimberly Frost, Keller Williams On The Water Justin Parker Gates, Keller Williams On The Water Philip Paul Ginexi, The Multifamily Firm LLC Thomas P. Gretz, Preferred Shore James E. Halvorsen, Easy Street Realty Florida,Inc Spencer Lester Hanly, Hanly Associates Realty Linda Ann Hedrick, New Door Real Estate LLC Abygail Hollingsworth, Town & Country Properties of FL Roseli Homem, Premier Sothebys Intl Realty Nathan Horner, Bright Realty Tanisha Hubbard, Exit King Realty Ryan Jacobson, Sunset Realty Benjamin Johnston, Coldwell Banker Realty Alexis Kim, Premier Sothebys Intl Realty Jessica Carol Renee Le Monte, Keller Williams On The Water Lindsey Kimpell Leech, Duncan Real Estate, Inc. David Brian Lepow, EXP Realty LLC Mackie Lojacono, Julie Coldwell Banker Realty Anne J. Long, Inspired Properties Elvida Masson, MVP Realty Associates LLC Deborah McHardy, Fine Properties Jennifer Oteri, Keller Williams On The Water Kristopher James Pelow, KW Suncoast Susan Lynn Pelton, Michael Saunders & Company Matthew A. Perea, Exit King Realty Dwight Reece Pierce, New Door Real Estate LLC Julie Anne Ponder, Coldwell Banker Realty Max Nathan Presy, Keller Williams Classic Group James Raymond, Keller Williams Classic Group William Romberger, William Glade Real Estate Broker Stacey Jean Siciliano, DWELL Real Estate Joseph N. Sikorski Jr, Anna Maria Island Beaches RE Robin C. Stinson, Matthew Guthrie and Associates Realty LLC Yvonna Syvertson, Coldwell Banker Realty Christopher Takeda, Exit King Realty Yuliya Tkachuk, Keller Williams On The Water Lynn H Tosi, Realnet Florida Real Estate Valentina F. Tran, EXP Realty LLC Kimberly Verreault, Keller Williams Realty Select Ryan Via, Peace River Partners David Voigt, Medway Realty Marc Francis Wallis, Star Bay Realty Corp.

Timothy Francis Whitacre, Coldwell Banker Realty Donald Ray Wilson, Realty Hub •

MEMBERSHIP NEWS NEW BUSINESS PARTNERS COMMUNITY LENDING 2544 Midnight Pearl Drive Sarasota, Florida 34240 Representative: Connor Hancock Email: connor.hancock@communitylendinghgf.com Our clients deserve our best efforts as well as our respect and courtesy. It is our goal to provide the best customer experience in the industry. We work towards that goal by treating clients honestly, fairly, answering questions as rapidly and thoroughly as possible, and learning the exact needs of our individual clients. With our dedication, comes our commitment which we are proud to stand behind.

NEW BEGINNINGS HOME SERVICES, LLC 4395 Highland Oaks Circle Sarasota, Florida 34235 Representative: Philip Pala Email: newbeginningshomellc@gmail.com Philip Pala is a Sarasota, FL Certified Professional Inspector® and certified by the International Association of Certified Home Inspectors® (InterNACHI®)

NEW WAVE STAGING P.O. Box 35203 Sarasota, Florida 34242 Representative: Brittan Chepak Email: brit@newwavestaging.com Selling a property is stressful. It’s actually one of the top 5 stressful life events in our lives. We are dedicated to make the transition from living to selling simple and uncomplicated. We accomplish this by turning your property into a neutral space that will allow any buyer to envision your house as their next home. Unlike designing a space to live, we specifically and strategically stage a property by creating a portrait of a lifestyle that will attract buyers and ultimately lead to the optimal selling price.

RADON AUTHORITY 2975 Bee Ridge Rd Sarasota, Florida 34239 Representative: Gregg Zetzman Email: RadonAuthority@yahoo.com When describing what is about Radon Authority, its about its about radon testing levels with accuracy, Its about radon mitigation effectiveness. We say it best by stating we are dedicated to helping families, businesses, home owners, home buyers, renters, schools and institutions reduce their risk of harmful radon gases by using radon remediation (radon reduction) procedures to greatly reduce dangerous their radon level throughout Florida and other states.

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

TEMPO CONSULTING PARTNERS 829 Idlewild Way Sarasota, Florida 34242 Representative: Bruce Lindsay Email: blind2017@gmail.com Our Executive team has over 75 years in healthcare, laboratory, and business experience. We have vetted the best testing procedures, laboratories, personnel, and techniques to assist in opening businesses safely and continue those testing procedures for as long as necessary to ensure your workforce arrives to perform their duties knowing they are safe and you are doing everything possible to keep them healthy. •

NON-STOP LOCKSMITH 2100 Constitution Blvd Sarasota, Florida 34231 Representative: Shana Tibi Email: nonstoplocksmithSRQ@gmail.com We offer Residential, Commercial, Automotive, and Emergency mobile local locksmith services at your location. We’re a family owned and operated, licensed and insured business with background checked locksmith technicians.

myRASM.com | 35

PLATINUM 2020 ANNUAL SPONSORS PLATINUM

SILVER

BRONZE

36 | ELEVATE [ SEPTEMBER 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 Catherine Aganmayo, Keller Williams On The Water Karen Arena, Realty Hub Carla M. Bach, Realty Hub Bailey, Melissa Helen - Team Realty and Investment Sol Patricia Banks, Medway Realty Debbie Baraona, Robert Slack LLC Angela Wynette, Rivas Barrow, Realnet Florida Real Estate Jay Brinegar, EXP Realty LLC John Brink, Premier Sothebys Intl Realty Nicholas J Cabrera, Preferred Shore Kristina Camano, Key Solutions Real Estate Grp Victoria Mary Campbell, NextHome KD Premier Realty Alice Caplan, Madison Allied LLC Toni L Carrico, Keller Williams On The Water David Casanas, EXP Realty LLC Edna Amy Cavitt, Sterling Realty Heather Leigh Cook, Naples TBI Realty LLC Cherial Lynette Crawford, Team Realty and Investment Sol Scott Richard Curtin, PalmerHouse Properties Kimberly Darlene Danzig, EXP Realty LLC Jenna Dellatorre, Premier Sothebys Intl Realty Aysegul Demir, New Door Real Estate LLC Ivelisse M Diaz, Ascendia Real Estate Hugh Leroy Dunbar III, Michelle Dunbar, Licensed Real Estate Broker Michelle Christine Dunbar, Michelle Dunbar, Licensed Real Estate Broker Emily Eppinger, Premier Sothebys Intl Realty Rosalia Martin Figueredo, Paradisus Realty Group CO Scott Alexander Fiset, Fine Properties Sheri Fiset, Fine Properties David Brian Fontaine, Weichert Realtors® Hallmark Pro Kimberly Frost, Keller Williams On The Water Tonna M. Gruber, Coldwell Banker Realty Beth Ann Harris, Coldwell Banker Realty Brooke Hartman, Realty One Group Skyline Marilyn May Hayes, Regal Realty Associates LLC Nicole P. Hearn, Fine Properties Thomas A Hearn, Fine Properties Elizabeth Lee Helvey PA, Couture Real Estate LLC Debbie A Henninger, Keller Williams Island Life Re Zhanna Holovii, Apple Real Estate LLC Cori Lynn Howell, All Brokers Realty, Inc. Ivan Ianakiev, Preferred Shore Michael Shane Johnson, Keller Williams On The Water Benjamin Johnston, Coldwell Banker Realty Lisea Julien, Exit King Realty Yvonne Marie Karlsson, EXP Realty LLC Kevin Francis Kelly, Wagner Realty

Nathaniel Gene -Kirby, EXP Realty LLC Stephanie Lamb, Realty Hub Frank D. Lauber, Frank D Lauber, Licensed Real Estate Broker Jeannette Leon, EXP Realty LLC Allan Buttrick Livesey, Preferred Shore Kacey Farrenkopf Lynn, Keller Williams On The Water Trevor McClanahan, Dinan Realty Group LLC David Robert Miller, Phox Realty Group of Florida LLC Veronica Brandon Miller, Preferred Shore Barbara Ann Montgomery LLC, Better Homes & Gardens Real Estate Atchley Properties Robin M. Moore, RCAM Inc. Deanna Rae Munn, Vacasa Florida, LLC Kathleene Murray, Prokop Realty Inc Lynn A. Nilssen, Albert Wooster & Company Michael John O’Neil, Robert Slack LLC Charles Popovic, EXP Realty LLC Omer J. Quesnel, Florida Realty Investments Alexis Reback, RE/MAX Alliance Group Martyn C. Reece, RE/MAX Alliance Group Anna E. Rees, Fine Properties Caroline Remillard, Premier Sothebys Intl Realty Spencer Lee Robinson, Keller Williams On The Water Monica S. Roche, Bright Realty Charles Dana CDR4 Rollings, McConnell and Associates Debra Lee Rugh, Coldwell Banker Realty Theodore N Russo, Alliance Group Limited Jon Michael Schnell, Florida Realty Investments Raymond E. Shope, Central Park Realty Corp.

Peter H. Snyder, Coldwell Banker Realty Richard Somphathai Souksengphet, Preferred Shore Alisa Marlene Summerlin, Phox Realty Group of Florida LLC Keith William Tanguay, PAMCO Remo Tartaglia, Florida Dreams Realty of AMI Socha Taylor, Exit Sunset Realty Roberto Tomasini, Exit Sunset Realty Genaro Tramutola, Fine Properties William G. Troxell, Fine Properties James Gary Turner, Keller Williams On The Water George Widunas, Coldwell Banker Realty Elizabeth Williams, Keller Williams On The Water Carole Lisa Wilson, Xcellence Realty Inc Rebecca Nicole Wright, Keller Williams On The Water Marina Yukho, Latitudes The Real Estate Boutique LLC •

myRASM.com | 37

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

It’s easy to grow your business with us.

888–KB–HOMES | kbhome.com

3%

Second & Third Closings

3.5%

Fourth + Closing

4%

At KB Home, get 3% commission on your first closing.

For your second and third closings, earn 3.5%.

Four or more, 4%. When you close more, you’ll earn more.

Avaunce in Bradenton • From the high $200s • 1,286–3,016 sq. ft., 3–6 bdrms., 2–3.5 baths • No CDD fees • Gated community with planned pool and cabana • Commuter friendly; just minutes from I-75, Hwy. 70 and Hwy. 64 14222 59th Cir. E., Bradenton, FL 34211 • 813-387-9682

Broker Cooperation Welcome. ©2020 KB Home (KBH). Payment of up to 4% Broker Co-op requires Broker or agent to accompany and register buyer on first visit to community and comply with Broker Co-op Agreement. Commission offer is valid on each eligible sale of select new KB homes in the Tampa and Southwest Florida areas and on contracts for full list price only. For Broker to receive commission, buyer must sign purchase agreement between 1/1/20 and 12/31/20, and close escrow in time required under contract. Commission not transferable or exchangeable and cannot be combined with any other offers. Once client has closed escrow, Broker will receive commission by mail. Commission awarded only on non-contingent contracts. Cancelled sales are not eligible. Sales of model homes excluded. Broker must be legal U.S. resident and 18 or older, and an active, licensed real estate agent in Florida. Other exclusions, qualifications, restrictions and limitations may apply. Plans, pricing, financing, terms, availability and specifications subject to change/prior sale without notice and may vary by neighborhood, lot location and home series. Buyer responsible for all taxes, insurance and other fees. Sq. footage is approximate. HOA applies. Future development of planned amenities is subject to change and not guaranteed. Photo may display decorator items/furnishings not available for purchase and may not represent lowest-priced homes. Photo does not depict racial preference. See sales counselor for details. CGC047286 TAM-272602

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

First Closing

Looking for bigger commissions?

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

www.MyRASM.com

EXPANDED REPORTS Sarasota and Manatee Counties

July 2020 Reach Further With The Market.

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

Monthly Distressed Market - July 2020 Single Family Homes Sarasota County

Closed Sales

July 2020

July 2019

Percent Change Year-over-Year

953

780

22.2%

$330,000

$291,925

13.0%

17

20

-15.0%

$199,500

$233,500

-14.6%

8

2

300.0%

$193,500

$153,000

26.5%

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 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 A M J J

$500K $450K

Median Sale Price

$400K $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 A M J J

2016

40 | ELEVATE [ SEPTEMBER 2020 ]

2017

2018

2019

Produced by Florida REALTORSÂŽ with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.

Data released on Friday, August 21, 2020. Next data release is Tuesday, September 22, 2020.

2020

Monthly Distressed Market - July 2020 Single Family Homes Manatee County

Closed Sales

July 2020

July 2019

Percent Change Year-over-Year

761

595

27.9%

$360,000

$327,351

10.0%

7

10

-30.0%

$269,000

$157,500

70.8%

6

6

0.0%

$237,750

$221,775

7.2%

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 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 A M J J

$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 A M J J

2016

2017

2018

2019

2020

myRASM.com | 41

Produced by Florida REALTORSÂŽ with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.

Data released on Friday, August 21, 2020. Next data release is Tuesday, September 22, 2020.

Monthly Distressed Market - July 2020 Townhouses and Condos Sarasota County

Closed Sales

July 2020

July 2019

Percent Change Year-over-Year

391

303

29.0%

$240,000

$224,000

7.1%

6

2

200.0%

$138,501

$156,450

-11.5%

1

0

N/A

$82,000

(No Sales)

N/A

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

2016

2017

Traditional

2018

Foreclosure/REO

2019

2020

Short Sale

100% 99%

Closed Sales

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

J 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 A M J J

$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 A M J J

2016

42 | ELEVATE [ SEPTEMBER 2020 ]

2017

2018

2019

Produced by Florida REALTORSÂŽ with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.

2020

Monthly Distressed Market - July 2020 Townhouses and Condos Manatee County

Closed Sales

July 2020

July 2019

Percent Change Year-over-Year

274

233

17.6%

$222,000

$195,000

13.8%

2

4

-50.0%

$133,450

$120,000

11.2%

0

0

N/A

(No Sales)

(No Sales)

N/A

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

2016

2017

Traditional

2018

Foreclosure/REO

2019

2020

Short Sale

100%

98%

Closed Sales

96% 94% 92% 90%

88% 86% 84%

J 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 A M J J

$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 A M J J

2016

2017

2018

2019

2020

myRASM.com | 43

Produced by Florida REALTORSÂŽ with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.