Sarasota Realtor Magazine - May 2013

MAY 2013

The Official Monthly Publication of the Sarasota Association of Realtors速

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Contents

Sarasota Realtor® Magazine Volume 10, Issue 5 MAY 2013

Sarasota Association of Realtors®, Inc.

6

Home, Sweet Home!

The long-awaited move to SAR’s new state-of-the-art

2013 SAR Officers

headquarters finally happened on April 19th, and staff

and our members opened our new home on April 22nd.

President Roger Piro Town & Country Realty

10 Critical Election

On May 14th, residents of the City of Sarasota face

an important election, which will help determine the future

of the city in many important ways.

Sarasota County Property Appraiser Bill Furst explains

that the data produced by his staff represents the raw numbers

that define the Sarasota property market.

Volume 10 • Issue 5 •MAY 2013

15 Healthy Market

Property sales in March 2013 the highest in eight years,

and pending sales were at the highest level in more than seven years

as the seasonal surge continued unabated.

SAR will begin our 2013 partnership project with Habitat

for Humanity in early May, and the new home build

will continue for the next six months.

Mission Statement The mission of the Sarasota Association of ® Realtors is to advance members’ professionalism through delivery of education and resources while upholding the Realtors® Code of Ethics.

We are committed to be the leading advocate of real estate in the communities we serve by protecting private property rights and expanding relationships with individuals and organizations both locally and worldwide.

Sarasota Realtor® is published monthly by the Sarasota Association of Realtors® Inc.

Editorial Staff Director of Communications Ray Porter

Director of Information Technology Jesse Sunday Director of Professional Development Catherine McCaskill

Sarasota Realtor® Advertising: For information on advertising rates and deadlines, contact Ray Porter at 941/952-3405 or ray@sarasotarealtors.com.

Visit SAR on Facebook at www.facebook.com/SarasotaRealtors See a few of the photos this month on Page 24!

Subscriptions: The annual dues of every member of the Sarasota Association of Realtors®, Inc., includes a one-year subscription to Sarasota Realtor ® magazine.

A yearly subscription for Sarasota Realtor ® magazine is available to non-members for $25, plus Florida sales tax.

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 Sarasota Association of Realtors®, Inc. All submitted copy is subject to editing.

20- Education Programs 24- On the SAR Scene

2013 Copyright© by the Sarasota Association of Realtors®, Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited.

30- Membership 32- Calendar of Events/Education MAY 2013

Chief Executive Officer Kathy Roberts

Production Coastal Printing, Inc.

10- Governmental Affairs

18- Commercial Investment Division

Treasurer Stafford Starcher RE/MAX Alliance Group

Governmental Affairs Director Marc Mansfield

In every issue 15 Sales and Listing Statistics

Secretary Xena Vallone Xena Vallone Realty

Director of Membership and Administrative Services Dan Andrews

25 Habitat Project

12- Property Appraiser

President-Elect Peter Crowley RE/MAX Alliance Group

Immediate Past President Laura Benson Michael Saunders & Company

12 The Numbers

4

2320 Cattlemen Road Sarasota, Florida 34232 Phone: 941/952-3400 FAX: 941/952-3401 www.sarasotarealtors.com www.facebook.com/SarasotaRealtors

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Scott Pintchuck: SAR Affiliate of Month

SAR Slates Quarterly Meeting June 14th at SAR

The Sarasota Association of Realtors® will hold the second Quarterly Membership Meeting on Friday, June 14th at 11:30 a.m. in the auditorium of our new, stateof-the-art headquarters facility. The building is located at 2320 Cattlemen Road, the northwest corner of Cattlemen Road and Colonial Oaks Boulevard.

A special guest speaker will provide the program.

Watch for details in your Weekly Update emails.

In addition, the Florida Realtors® Honor Society inductees will be recognized, as well as the SAR Scholarship Winners for 2013.

The meeting will also be jointly sponsored by the Sarasota Chapter of the Women’s Council of Realtors®, so a large turnout is anticipated. Please register early online at www.sarasotarealtors.com in order to ensure you take part in this historic first membership meeting in our new facility.

Scott Pintchuck of My Signature Living has been named the SAR Affiliate of the Month for May 2013.

For the past 25 years, Scott has been providing residential and commercial clients in Southwest Florida with fine interior finishes. Born and raised in Indianapolis Indiana, Scott relocated to Sarasota in 1988.

He established his first business, a floor covering firm, in 1988. The business evolved over the years allowing Scott to venture Scott Pintchuck into the business of “one stop shopping” for interior finishes.

In 2001, Scott started Sarasota’s first interior finishings enterprise. Scott’s experience with this prototype has developed into a much-needed service for today’s consumer.

In addition to his expertise in flooring of all types, he also provides design and installation services for cabinetry, countertops, appliances, lighting, paint/wall coverings, fixtures and window treatments.

Scott’s affiliation with My Signature Living allows him to offer these services to SAR members and their clients. He can be reached at 941.315.0857 or via e-mail at scott@ mysignatureliving.com.

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Cover Story 6

Home, Sweet Home!

SAR opens new state-of-the-art headquarters SEE PAGES 7-9, 28-29 FOR PROJECT PHOTOS

A

After more than a decade of dreaming, the Sarasota Association of Realtors® woke up on Monday, April 22nd, 2013 to the long-awaited reality of a new, stateof-the-art headquarters facility.

The new building, which is owned debt-free, is located at 2320 Cattlemen Road, the northwest corner of Cattlemen Road and Colonial Oaks Boulevard. A special dedication will be held on Tuesday, May 21st from 2 to 4 p.m. Watch for details in your emails!

The big move also coincides with the 90th anniversary year of SAR. Watch for the June 2013 issue of Sarasota Realtor® Magazine for an overview of the Association’s history.

While it was ultimately the lack of adequate parking at the 3590 South Tuttle Ave. facility that brought the relocation to the new headquarters, the move will have many more positive ramifications for SAR members.

Clearly the biggest benefit from the new facility, aside from alleviation of the parking and space problems, will be the improvement to the level of service provided by SAR to the Sarasota real estate community. Education is at the heart of SAR’s duty and responsibility to the local real estate trade, and the ability to provide the highest level of education is greatly enhanced at the new facility. Class sizes can be expanded, presentation of materials is modernized and improved through the technological upgrades, and the overall setting is new, clean and comfortable The new facility is about 2,500 square feet larger, is conveniently located, puts all SAR offices and personnel under one roof (the Tuttle offices were divided into three separate buildings), and features leading edge technology. The 15,000 square foot facility contains all staff offices, a tech training center, board and meeting rooms, and a large auditorium.

With the ability to divide the auditorium into three separate sections, several classes or seminars can be held simultaneously. Each of the sections can seat about 40 people, and is equipped with its own high definition projector and screen. In the open setting, the three screens can be synchronized so there isn’t a bad seat in the house. The sound system is also stateof-the-art.

Communication between staff and members, as well

MAY 2013

as internal communications, is greatly improved in the new building thanks to a new phone system, which creates far greater efficiency and maximizes work flow.

In addition to the high technology standards, SAR constructed the facility using “Green” construction standards and is seeking basic LEED certification.

LEED, or Leadership in Energy and Environmental Design, defines a framework for identifying and implementing practical and measurable green building design, construction, operations and maintenance solutions.

How did we get here?

SAR has been located at the South Tuttle Avenue facility since 1982, and has been actively seeking a new site since 2001, when the debt on the building was retired. But prior to the Tuttle Avenue location, SAR’s 90-year history included several previous location moves, due to growth of the association membership and staff. SAR actually began in a 10 by 15 foot office in a commercial building near the current Five Points Park in 1923 at the start of a real estate boom, just prior to the Great Depression and subsequent real estate downturn.

SAR next moved to a facility on State Street in downtown Sarasota in 1971. The office was considered a spacious headquarters with more than 2,000 square feet of space when it was selected by the board and then-President Reid Farrell. But it lasted only a decade before growth of the membership forced another move and construction of a facility on Tuttle Avenue. Even that facility required expansion by 1991 with a new auditorium structure.

By 2001, with the debt retired, the board decided to plan ahead and started a building fund to handle any future growth needs. Within five years, the search for a new site and a potential new headquarters had started in earnest. Several exploratory trips were made to other real estate associations in the state to determine how they had handled their growth issues. A volunteer task force comprised of SAR leadership was instructed to examine all the possibilities, from purchasing or leasing an existing building, to constructing a new facility from the ground up.

After several potential deals fell through for various reasons, all the stars lined up with the land at the northwest corner of Cattlemen Road and Colonial

Sarasota Realtor® Magazine

Continued on P. 8, See HOME

www.sarasotarealtors.com

The new SAR headquarters facility at 2320 Cattlemen Road is shown here just before the opening day on April 22nd.

Headquarter’s Timeline 1982 - SAR moves in to facility at 3590 S. Tuttle Ave. 1991 - SAR facility expanded to include auditorium building 2001 - SAR pays off debt on Tuttle buildings; starts new building fund 2005 - SAR membership approaches 5,000 at height of real estate boom, stressing parking and facility 2006 - Building Committee visits other Associations in Florida to explore possible facility configurations 2007-10 - Several potential land and construction options initiated and ultimately abandoned by SAR 2011-2012 - SAR board settles on deal for new building July 2012 - SAR breaks ground for new 15,000 sq. ft. headquarters April 2013 - SAR opens new headquarters

Above, the headquarters on March 25th, 2013, and below, the site as it appeared in August 2012.

HOME

From Page 6 Oaks Boulevard. The landowner was willing to trade the property for the Tuttle Avenue land and structures, and economic conditions resulted in lower construction costs.

Closing on the property occurred on June 22nd, 2012, and on July 11th, 2012, ground was broken for construction of the new headquarters.

Substantial construction was completed in the spring of 2013.

SAR’s Importance in the Community What will the new SAR facility mean to the overall Sarasota community?

Aside from the millions of dollars in new construction and subsequent job creation that was generated by the building itself, SAR is an important organization for perhaps the most crucial local industry.

Outside of tourism, the economy of the Sarasota area is largely dependent on a vibrant, well-trained and sophisticated real estate industry.

So the new SAR facility is very important to helping maintain both the real estate trade and the health of the community.

When people purchase homes, the dollars spent on the sale multiply and spread through the economy. Home sales result in many additional purchases (furnishings, landscaping tools and supplies, appliances, trade services, etc.)

In addition, all the affiliate-supplied services, like loans, title services, legal services, and much more are fueled by a healthy real estate industry.

As the health of local real estate continues to improve, Sarasota residents can expect more robust job creation, improved salary levels and a brighter future for current residents and those seeking to relocate here.

Above, the first educational class at the new SAR headquarters - GRI 200 Series - is conducted on Monday, April 22nd with 40 students.

Below, the new board meeting room awaits the first board meeting on April 24th.

Thank You!

SAR extends a special thank you to our Facility Task Force: Roger Piro, Chair; Jag Grewal; Brian McCrone; Tim Mapp; Loyd Robbins; and Stafford Starcher. This group has worked tirelessly for months to bring this project to reality!

Also, thank you to those who had the foresight to begin the Building Fund in 2001 after the debt was retired, and to the many, many members who contributed to this effort in so many ways.

8

MAY 2013

Sarasota RealtorÂŽ Magazine

www.sarasotarealtors.com

The new SAR headquarters facility employee lounge area is shown on moving day, April 19th, as relocation work progressed.

Above, Jackie Deemer operates behind the new reception desk at the new SAR headquarters facility on April 22nd.

Above, the new tech center, and at right, the large foyer entranceway is shown on April 19th, prior to the start of the employee move.

www.sarasotarealtors.com

Sarasota Realtor速 Magazine

MAY 2013

9

Governmental Affairs

Critical election coming May 14th for City of Sarasota residents

E

By Marc Mansfield Governmental Affairs Director

Elections come and go and for the most part very few people understand the impact elections can have on a municipality, state or for that matter the nation.

The City of Sarasota will hold a second election on May 14th to fill two at-large commission seats. This upcoming election could become a pivotal point for the future of the City.

The city, faced with mounting financial challenges, must decide whether to take advantage of the improving economy and move forward with encouraging balanced growth and development, thereby providing additional revenue to the city, or to turn its back on growth and face the daunting task of providing services with less revenue.

Additional hot button issues include: - Economic Development/Job Creation SARASOTA COUNTY

EARLY VOTING CITY OF SARASOTA Run-off Election MAY 14, 2013

Dates, Hours and Location

Begins Saturday, May 4, 2013 Ends Saturday, May 11, 2013 9:00 a.m. – 5:00 p.m. daily

Office of the Supervisor of Elections Sarasota County Terrace Bldg 2001 Adams Lane Sarasota, Florida 34236 (941) 861-8600

10

MAY 2013

- Downtown Redevelopment - Declining Tax Revenues - City Financial Rating - North Trail Redevelopment Sarasota Association of Realtors® Political Action Advisory Trustees interviewed all city commission candidates with the exception of one who declined to participate in the process.

Based upon those personal interviews and candidate answers to questions regarding private property rights and real estate issues in general SARPAAT recommended the candidates shown below.

We realize you have the right to vote for the candidate of your choice, however, if you are interested in which candidates answered best on real estate issues, your screening committee and Board of Directors have chosen to support: Suzanne Atwell (Incumbent)- Candidate Atwell was first elected to the Sarasota City Commission in 2009.

She has served as Mayor for the past two years.

She understands the concept of private property rights; is a strong supporter of economic development and job creation and believes there is a continuing need for downtown redevelopment, utilizing mixed use projects that will spur business activity along with protecting neighborhoods.

She believes there is a strong need to rebuild the public trust and confidence in City Hall and will strike a balance between community needs and budgetary realities. She has proven to be a capable elected official the past four years and SAR supports her re-election in 2013.

Richard Dorfman - Candidate Dorfman would bring much needed private sector business experience to the commission, having worked nearly 25 years in the international sports industry. He is a strong supporter of economic development and job creation, and believes a friendlier environment for business investment is much needed within the city.

He understands the need to protect the unique character of neighborhoods, and yet realizes there is a need to develop job opportunities that will provide residents the ability to remain in Sarasota. He understands the importance of public and community safety and is a strong supporter of law enforcement.

With his business background and enthusiasm SAR believes he should be elected to the City Commission.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

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Property Appraiser

Our property data is straight from the horse’s mouth

FROM THE HORSE’S MOUTH….

Once or twice a month I receive calls, emails and comments from Realtors® and other real estate professionals who tend to place greater store and trust in IMAPP, the data aggregating service available to subscribers, than the Property Appraiser’s office when it

By Bill Furst, CRS, CRBfrom IMAPP and our office comes to property data.GRI, When the data Sarasota County Property Appraiser don’t agree, the assumption is that the Property Appraiser got it Once or twice a month I receive calls, emails and comments wrong. from Realtors® and other real estate professionals who tend to place greater store and trust in IMAPP, the data aggregating serviceI reach available to subscribers, the Property The conclusion when I get these than comments is thatAppraiser’s the office when it comes to property data. speaker may not fully understand the difference between the role of the data IMAPP office don’t agree, the the PropertyWhen Appraiser andfrom the role of aand dataour aggregator. assumption is that the Property Appraiser got it wrong.

The conclusion I reach when I get these comments is that Here’s the deal: The Property Appraiser’s office must value all the speaker may not fully understand the difference between property in Sarasota County at just value for tax purposes every the role of the Property Appraiser and the role of a data year, as ofaggregator.

January 1, using criteria set by the State of Florida through theHere’s Department Revenue. criteriaoffice include the deal:ofThe PropertyThose Appraiser’s mustthe value exclusion all of unqualified transactions such as foreclosures, property in Sarasota County at just value for taxintrapurposes every year, of January 1, using criteria set bytransfers. the State In of family transfers, andasother non-arms-length property Florida through the Department of Revenue.

Those criteria several recent articles in this magazine I’ve described the appraisal include the of unqualified transactions such asand process, including theexclusion ways in which we are required to verify foreclosures, intra-family transfers, and other non-arms-length update property and characteristics. Our data are vetted by propertyvalues transfers. the Department of Revenue beforeinthey published our the In several recent articles thisare magazine I’ve on described website, inappraisal the Notices of Proposed Taxes, and by the Tax Collector process, including the ways in which we are required verify update values andAppraiser’s characteristics.

Our on the taxtobills.

Theand upshot is property that the Property office are vetted by time” the Department doesn’t dodata “retail” or “real valuations.of Revenue before they are published on our website, in the Notices of Proposed Taxes, and by the Tax Collector on the tax bills. The upshot is that IMAPP, onthe theProperty other hand, does not generate original data.

Theytime” do Appraiser’s office doesn’t do “retail” or “real however offer “retail” and “real time” valuation tools.

IMAPP’s valuations. business, asIMAPP, displayed is tonot provide “one-click on on thetheir otherwebsite, hand, does generate original Auto data.

Comps and AutodoProperty incorporate all recorded They howeverValuations, offer “retail”which and “real time” valuation tools.

IMAPP’s as displayed on their website, is to provide property sales and business, MLS solds.”

Their comparable and sales reports, Autosources Comps and and referencing Auto Property which using data“one-click from various all Valuations, transactions, rely incorporate all recorded property sales and MLS solds.” heavily on MLS property characteristic data, which are entered by Their comparable and sales reports, using data from various individualsources MLS users.

And with noallofficial oversight speakon of,MLS there and referencing transactions, relyto heavily is ample possibility for errors and omissions. property characteristic data, which are entered by individual MLS users. And with no official oversight to speak of, there is ample possibility errorsdata and please omissions.

If you have a problem withfor IMAPP contact IMAPP If youlocated have a problem please contact directly. They’re in Tampawith andIMAPP easy to data reach.

Simply call IMAPPfax directly. located in Tampa and easyatto reach.

(813) 282-9300, (813) They’re 289-3035, or visit their website Simply call (813) 282-9300, fax (813) 289-3035, or visit their www.imapp.com. have a handyThey “contact button. website atThey www.imapp.com. haveus” a handy “contact us” button.

For more The Property Appraiser toanswers the State The Propertyanswers Appraiser to of theFlorida, State ofthe Florida, the information, Department of Revenue and the people ofpeople Sarasota County.County.

You can Department of Revenue and the of Sarasota contact the You can always contact our office if you have tax roll value, Propertyalways contact our office if you have tax roll value, exemption, exemption, property characteristic or other official record property characteristic or other official record concerns or Appraiser’s or questions: (941) 861-8200 or PA@SC-PA.com. office atquestions:concerns (941) 861-8200 or PA@SC-PA.com.

O

941.861.8200.

12

MAY 2013

Sarasota Realtor® Magazine

The Rules We Must Follow: Section 193.011, Florida Statutes: Factors in deriving just valuation. –

(1) The present cash value of the property, which is the amount a willing purchaser would pay a willing seller, exclusive of reasonable fees and costs of purchase, in cash or the immediate equivalent thereof in a transaction at arm’s-length; (2) The highest and best use to which the property can be expected to be put in the immediate future and the present use of the property including any applicable judicial limitation, local or state land use regulations, or historic preservation ordinance, and any zoning changes, concurrency requirements and permits necessary to achieve the highest and best use; (3) The location of the property; (4) The quantity or size of the property; (5) The cost of the property and the present replacement value of any improvement thereon; (6) The condition of the property; (7) The income from the property; (8) The net proceeds of the sale of the property, as received by the seller, after deduction of all of the usual and reasonable costs of the sale, including the costs and expenses of financing, and allowance for unconventional or atypical terms of financing arrangements. When the net proceeds of the sale of any property are utilized, directly or indirectly, the determination of just valuation of the realty of the sold parcel or any other parcel under the provisions of this section, the property appraiser, for the purposes of such determination, shall exclude any portion of such net proceeds attributable to payments for household furnishings or other times of personal property. www.sarasotarealtors.com

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Prices shown are estimated base prices, do not include lot premiums or options and are subject to change without notice. Community Association fees required. Additional terms, conditions and restrictions apply. Photographs are for illustrative purposes only and are not intended to be an actual representation of a specific community, neighborhood or any completed improvements being offered. Please see a sales associate for details. This material shall not constitute a valid offer in any state where prior registration is required or if void by law. ©2012 PulteGroup, Inc. All rights reserved. 12/5/12. CBC057850.

Distressed Property Report: First Quarter 2013 Total Sales ‐ By Quarter

REO

Short

Market

2000 1800 1600 1400 1200 1000 800 600 400 200 0 2011‐Q1

2011‐Q2

The first quarter of 2013 saw distressed sales drop in relation to the overall Sarasota market. The current figure is 30.3 per cent of sales (foreclosures and short sales), which is lower than the last quarter of 2012 (33.2 percent) and the third quarter of 2012 (36.5 percent).

The downward trend started in the

Bob

Chuck

Jim

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

final quarter of 2011 after distressed sales hit over 50 percent in the fourth quarter of 2010.

The latest local figures demonstrate a market heading toward full recovery, but not yet at the traditional distressed property rate of below 5 percent of sales.

In fact, distressed sales in the Sarasota

George

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2012‐Q3

IAS

{

2012‐Q4

2013‐Q1

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Locally, in addition to the lower number of distressed sales, there has been a surge in traditional market sales, which also helps the percentages stay at a healthier level.

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14

MAY 2013

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Source: Sarasota Association of Realtors®

P

NG

7

S

March 2013 Sales Highest Since August 2005

P

Property sales in the Sarasota real estate market remained hot in March 2013 and for the first quarter of 2013. The March 2013 sales figure of 887 was the highest total since August 2005, and for the full first quarter, sales were 11.3 percent higher than in 2012.

Members of the Sarasota Association of Realtors® sold 628 single family homes and 259 condominiums in March 2013.

That compared to 504 single family homes and 229 condos sold in February 2013, for a 21-percent increase over last month and 6.7 percent higher than March 2012.

The huge number of sales coincided with an impressive increase in the median sales price, especially for single family homes. The figure of $210,000 for single family homes was the highest since August 2008 – nearly five years ago. For condos, the median was $182,000. The condo figure has fluctuated substantially over the past few years, dropping to a low point of $127,000 in July 2010 after soaring to $420,000 at the start of 2007.

Pending sales, which predict future closings, were at 1,221 – the highest figure in the past seven years, and one of the highest in SAR’s history. Pending sales stood at 1,138 in February and 1,047 in January, continuing the amazing streak since the start of 2013. The statistic represents properties that went under contract during the month, and indicates sales in April and beyond could also be at high levels.

The available inventory remained near the lowest level in a decade, declining to 3,643 from February’s figure of 3,790.

The inventory is 18 percent lower than in March 2012.

“We are in the middle of an historic sales period, and the pending sales total indicates we could continue to see closings at near record highs,” said SAR President Roger Piro. “Agents are reporting very high activity at open houses, and the seasonal surge of buyers has been at the highest level in many years. If this continues, as it did last year, the year 2013 could end up in the record books.”

The March 2013 months of inventory were 3.8 months for single family and 4.7 months for condos, with both property categories at or equal to the lowest level in the past decade. Months of inventory represents the time it would take to deplete the current inventory at the current sales rate.

Last March, there were 4.8 months of inventory for single family homes and 6.7 months of inventory for condos. At the worst point of our market in November 2008, there were 24 months of inventory for single family homes and 41.7 months for condos.

“We are in the middle of an historic sales period, and the pending sales total indicates we could continue to see closings at near record highs.”

- SAR President Roger Piro Currently, only 398 properties listed for sale in the MLS are short sales or foreclosures, down 29 from last month’s figure. This represents about 10.9 percent of available properties, down from last month’s figure of 11.3 percent and a big drop from January 2012 when the figure represented 17 percent of the market.

Sales of distressed properties represented about 30 percent of the overall sales in March 2013, up slightly from February’s figure of 27.5 percent, but far lower than the 51 percent figure experienced in the fourth quarter of 2010.

“This is a great time to be involved in the real estate industry in Sarasota, and this market continues to stand out in the national housing recovery,” said Roger Piro. “With the tight inventory, low interest rates, and all the traditional attractions of our market, I don’t see any end in sight to the energized local real estate market.”

MLS Fees Due May 15th

My Florida Regional MLS and My Florida Commercial Real Estate fees will be posted to our members’ MFRMLS account in early April, and are due no later than May 15th.

The fee to subscribe to MFRMLS for 2013-2014 will be $363 (June 1, 2013 to May 31, 2014). The fee to subscribe to MFCRE/Catylist for 2013-2014 will be $414 (June 1, 2013 to May 31, 2014). www.sarasotarealtors.com

MFRMLS sent email invoices in early April. All fees must be paid by 5:00 pm on May 15, 2013. To view and pay your MLS invoice please log on to MFRMLS website www.mfrmls.com and select “Pay Your Bill”. Any questions concerning your invoice should be directed to MFRMLS/ MFCRE at 1-800-686-7451.

Sarasota Realtor® Magazine

MAY 2013

15

Sarasota MLSSM Statistics - March 2013 Single Family

Unit Sales

Condo

700 600 500 400 300 200 100 0 Mar‐12

Apr‐12

May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

Oct‐12

Nov‐12

Dec‐12

Jan‐13

Feb‐13

Mar‐13

Single Family

Median Sale Price

Condo

$250,000 $200,000 $150,000 $100,000 $50,000 $0 Mar‐12

Apr‐12

May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

Oct‐12

Nov‐12

Dec‐12

Jan‐13

Feb‐13

Mar‐13

Single Family

#Active

#Sold

%Sold

Average DOM

Median Sale Prices

Median Last 12 Months

Months Inventory

Pending Reported

%Pending

# New Listings

# Off Market

This Month

2,414

628

26.0

146

$210,000

$180,000

3.8

887

36.7

805

132

This Month Last Year

2,887

596

20.6

175

$174,900

$161,000

4.8

822

28.5

788

144

2,504

504

20.1

144

$184,500

$177,157

5.0

793

31.7

866

148

‐

1,624

‐

143

$197,000

‐

‐

2,438

‐

2,659

‐

Oct 95.4 ‐

Nov 95.6 ‐

Dec 95.3 ‐

Last Month YTD

2012 2013

Jan 95.4 96.2

Single Family – Sale Price Vs. List Price % Rates Feb 94.2 96.4

Mar 94.6 96.8

Apr 94.7 ‐

May 95.1 ‐

Jun 95.2 ‐

Jul 94.2 ‐

Aug 95.3 ‐

Sept 95.2 ‐

Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of April 10th, 2013, including some listings in Manatee, Englewood, Venice, and other areas. Single-family statistics are tabulated using property styles of single-family and villa. Condo statistics include condo, co-op, and townhouse.

Source: Sarasota Association of Realtors® 16

MAY 2013

Sarasota Realtor® Magazine

www.sarasotarealtors.com

Sarasota MLSSM Statistics - March 2013 Single Family Condo

Inventory 3,500 3,000 2,500 2,000 1,500 1,000 500 0 Mar‐12 Apr‐12 May‐12 Jun‐12

Jul‐12

Aug‐12

Sep‐12

Oct‐12

Nov‐12 Dec‐12

Jan‐13

Feb‐13 Mar‐13

Single Family Condo

Pending Sales 1000 900 800 700 600 500 400 300 200 100 0 Mar‐12

Apr‐12

May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

Oct‐12

Nov‐12

Dec‐12

Jan‐13

Feb‐13

Mar‐13

Condo

This Month This Month Last Year Last Month YTD

2012 2013

#Active

#Sold

%Sold

Average DOM

Median Sale Prices

Median Last 12 Months

Months of Inventory

Pending Reported

%Pending

# New Listings

# Off Market

1,229

259

21.1

165

$182,000

$174,000

4.7

334

27.2

299

94

1,576

235

14.9

187

$192,000

$162,500

6.7

369

23.4

372

145

1,286

229

17.8

171

$173,000

$174,900

5.6

345

26.8

325

106

‐

648

‐

168

$166,450

‐

‐

968

‐

1,022

‐

Jan 93.1 95.4

Condo – Sale Price Vs. List Price % Rates Feb 93.5 95.4

Mar 94.2 95.2

Apr 94.3 ‐

May 93.8 ‐

Jun 93.8 ‐

Jul 94.6 ‐

Aug 94.1 ‐

Sept 94.2 ‐

Oct 94.4 ‐

Nov 95.4 ‐

Dec 94.8 ‐

Median sales price is the middle value, where half of the homes sold for more, and half sold for less. Listings sold were closed transactions during the month. Pending sales are sales where an offer has been accepted during the month, but the sale has not yet closed. Even though some pending sales never close, pending sales are an indicator of current buyer activity. DOM indicates the average number of days that sold properties were on the market before a contract was executed.

Sarasota Association of Realtors® MLS www.sarasotarealtors.com

Sarasota Realtor® Magazine

MAY 2013

17

Commercial Investment Division

Commercial Market: Expectations and Reality

W

By NAR Research Team

When Real Estate Research Corporation (RERC), Deloitte, and the National Association of Realtors® (NAR) began discussions to publish the annual Expectations & Market Realities in Real Estate 2013, they hoped that some of the uncertainty that has dominated the commercial real estate outlook for the past few years would be in decline. Instead, what they found was that the economy and capital markets appeared even more uncertain, and that there were major hurdles still to overcome before investors would have the clarity they have been wishing for.

Although a few questions have been answered — the Federal Reserve has initiated a third round of quantitative easing and has extended the time frame for keeping the federal funds rates low to mid-2015, and the November elections are over — other uncertainties remain.

It appears that the political gridlock we have had for the past couple years will continue, at least to some degree, and we wonder if calmer heads will prevail.

Slow economic growth, weak job growth, and unsustainable debt levels are here for the foreseeable future and we question if any industry can provide a meaningful boost to growth.

Tax burdens and expenses of the new healthcare legislation are beginning to be felt, and new banking

CID Monthly Meeting Schedule Commercial Marketplace Sessions Increase visibility for your properties, learn of new opportunities, and exchange information with commercial professionals. Deals are made at these sessions.

1st, 2nd & 4th Fridays at the SAR Auditorium 3rd Friday at the MAR offices NEW In 2013! The monthly general meeting (3rd Tuesday) will now include a Marketplace session, giving members five opportunities each month to promote their listings.

Officers:

MAY 2013

Commercial Marketplace Sessions Friday, May 3, 9 a.m. – SAR Auditorium, 2320 Cattlemen Road Friday, May 10, 9 a.m. – SAR Auditorium Friday, May 17, 9 a.m. – MAR, 10920 Technology Terrace, Lakewood Ranch, FL Friday, May 24, 9 a.m. – SAR Auditorium CID General Membership Meeting Date: Tuesday, May 16, 8:30 a.m.

Location: SAR Auditorium; Program details to come-CID Members Only

2013 CID Officers & Directors

President: Linda Emery, Sperry Van Ness President-Elect: Lori Hellstrom, Osprey Real Estate Services Vice-President: Tim Mapp, Mapp Realty Secretary: Dave Roth, RE/MAX Alliance Treasurer: Tony Veldkamp: Sperry Van Ness Past President: Brad Lindberg, Sperry Van Ness 18

regulations are on the rise. The credit crisis in Europe has spread and the U.S. is beginning to feel the effects through lower export growth, all while the challenges in the Middle East are intensifying.

If there is one thing investors appear ready to do — perhaps even eager to do — it is to turn the page on the past few years.

In general, investors want to put the past behind them, and although they may not know exactly where they are going, they know where they have been and that they do not want to return there.

They know what they are dealing with, they realize that this situation will be with the nation for the foreseeable future, and they need to make adjustments in order to maximize commercial real estate investment performance and yield in this kind of environment.

We believe that much of the critical research and analysis needed to do just that is provided in our new outlook report: Expectations & Market Realities in Real Estate 2013 — Turn the Page.

The first chapter of Turn the Page takes a look at the economy as the investment environment in which people invest. The outlook is for a continued slow recovery, with modest economic growth over the next few years and for slow job growth to continue.

To read the complete report, visit www.realtor. org and click on Business Specialties, then the Commercial tab! It’s an eye opener!

Directors: Rico Boeras: Preferred Commercial Inc.(1 year - 2013) Ron Struthers: Coldwell Banker Commercial NRT (1 year 2013) Peter Skokos: Norton Hammersley (2 years - 2014) Kevin Robbins - Harry Robbins Associates (2 years - 2014) Susan Goldstein: Michael Saunders & Company (3 years2015) Roberta Kolton: Michael Saunders & Company (3 years 2015)

Sarasota Realtor® Magazine

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ar -

4) -

Education Programs

Become a ‘Sales Superstar’: Kim Dickey seminars Title: The Power of Relationship Selling Instructor: Kim Dickey Date: June 5, 9 a.m. to Noon 3 Hours CE Credit--FL CE Cost: $10 SAR members, $20 others

Title: The Art of Controlling the Sale Instructor: Kim Dickey July 17, 9 a.m. to Noon 3 Hours CE Credit--FL CE Cost: $10 SAR members, $20 others

This 3-hour Continuing Education Course will build the foundation for powerful Relationship Selling. Since so many real estate products are similar, the real difference is in the Real Estate Professional’s ability to build and maintain a compelling relationship, communicate and demonstrate value and guide the prospect or client through the buying and selling process. You will also learn that every response needed to be successful has already been written you just have to make the commitment to know your next line.

This training will empower, inspire and provide the tools to be successful in any market.

This 3-hour Continuing Education Course is about controlling the “sales process”. You will learn the language that makes a prospect right, smart and want to take action by doing business with you.

You will learn how to create urgency, seamlessly embed powerful negotiating ground rules and techniques and understand what goes on in the head of a FSBO. This training will further build upon the Power of Relationship Selling and will transform an information giver into a leader.

• Rapport, Control and Set-Up Listing Presentation • Uncover emotional motivation and potential stalls • Customize a marketing strategy, assume the sale and turn a “I want to try it on my own” into a sale • Overcome more difficult seller stalls • Introduction to Buyer Listing Presentation • Qualify, define and commit before showing property • Buyer prospecting and scripts • Prospecting for sellers • Communicating and demonstrating your value

• Defining Urgency • Building & Maintaining Urgency for Buyers • Building & Maintaining Urgency for Sellers • The technical side of negotiating • 9 Ground rules to negotiating • Deliberate negotiating techniques • Negotiating using the entire sales contract • Negotiating role-play • In the Head of a FSBO • What is a For Sale by Owner thinking?

• Educating past the seller’s Real Estate ignorance

GRI courses continue in Summer 2013 SAR is pleased to announce the dates for the GRI 300 Series: Real Estate Specialties, coming this June to our new headquarters facility, and GRI 100 Series: Standards of Practices, coming in August.

GRI 300 Series: Real Estate Specialties - $249 Location: SAR Auditorium, 2320 Cattlemen Rd.

GRI 301: It’s More Than Just Sales (other business specialties), June 3 & 4 Topics: - Appraisals - Property Management - Common Ownership - Exchanging GRI 302: Thinking Outside the Box, June 11 & 12 Topics: - Land - Environment & Private Property Rights - International - Residential Construction - Environment

20

MAY 2013

GRI 100 Series—Standards of Practice - $349 Aug. 13-14, 19-20, 26-27 Location: SAR Auditorium, 2320 Cattlemen Rd. 45 Hours Sales Associate Post-License Credit & 14 Hours CE Credit Kill two birds with one stone! Earn your GRI designation while earning your post-license or continuing education credit, as well as your Code of Ethics requirement for Cycle 4! Topics covered are: Law, Fair Housing & Diversity, Contact to Contracts, Business Planning & Goal Setting, Negotiating & Counseling, and Finance. At the end of each 2-day module, there will be a 50 question exam.

Sarasota Realtor® Magazine

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Choose the right COURSE with WCI Communities.

Whether you enjoy a day teeing it up on the golf course or charting a course in your boat, WCI has a community to suit your needs.

This masterpiece community features superb amenities, including an expertly sculpted 18-hole championship golf course and clubhouse, River Club with dining, fitness and tennis, a picturesque nature park and, of course, exquisite homes. Some may consider it a stroke of genius.

On the shores of the Manatee River in Bradenton, Tidewater Preserve is a private boating community with exceptional amenities including the The Lodge offering a fitness center, resort style pool, Port & Court Club tennis complex, marina and boat lift, canoe park, even a riverfront nature walk.

SM

Carriage Homes from the $180s. Grand Villa, Classic Homes from the low $200s.

Homes from the low $200s to the $700s.

102 Pesaro Drive | North Venice, FL 34275 941-485-5063 | 800-WCI-4486 | venetianwci.com

4700 Tidewater Preserve Blvd. | Bradenton FL 34208 941-465-4001 | 888-WCI-3343 | tidewaterpreserve.com

Directions: From I-75 take Exit 195, 2 miles East

SM

Directions: I-75, Exit 220, West on FL-64 towards Bradenton, 1.5 miles, turn Right onto 48th St. Ct. Welcome Center 1 mile on left.

Congratulations to Amy Robinson with Coldwell Banker in Siesta Key, she’s at

Congratulations to Fred Gibson

with ReMax in Sarasota, he’s at 4% ! *

5% ! *

on first sale!

on second sale!

on three or more sales!

On Any WCI New Home Sale ** The more sales you make in 2013 the higher commission rate you can earn! Contracted Jan. 1 – Dec. 31, 2013. *Recorded sales as of April 5, 2013. **Contract must be fully deposited (under the terms of the agreement), and if applicable, out of rescission with all contingences met and all required deposits shall have been paid in full and cleared. Offer expires December 31, 2013. All commissions shall be paid at closing to the applicable broker provided all terms & conditions of the co-broker commission agreement have been met. The commission shall be calculated and paid in accordance with WCI’s Co-Broker Commission Program Agreement. Contact WCI Sales Director at Community Sales Center for specific closing requirements. Pictures shown may not be actual homes listed, but a representation of home designs available. Pricing and availability subject to change without notice. Void where prohibited. Offers are subject to change or cancellation without notice. All references to clubs and membership opportunities and other amenities are subject to fees, dues and availability. ©2013 WCI Communities, Inc. All rights reserved. CGC 031523

LOGO B/W - includes reversed out logo in all white

The Experience Is Everything.

School of Real Estate Programs Sales Associate Pre-License Course

Do You Have What It Takes for Realtor® Boot Camp?

SA-7: May 28-June 27 Class starts May 28 at 5 p.m.

Regular Tuition: $364 (Earlybird $339 - 10 days prior to class) Tuesdays & Thursdays, 5 to 10 p.m.

AND Saturdays, 8:30 a.m. to 1:30 p.m.

End of Course Exam: On last day of course Tuition includes manual, Florida Real Estate Principles, Practices and Law, 35th Edition

Sales Associate Pre-License SA 7: September 5-October 10, 2013 Class starts September 5 at 5:00 p.m.

Kick your career up a notch! The Professional Development Regular Tuition: $364 (Earlybird $339 - 10 days prior to Committee has put together this basic training program for class) new agents as well as agents who need new energy infused into Tuesday & Thursday, 5 to 10 p.m. their business. The training will consist of four sessions led by dynamic, experienced real estate professionals.

AND Saturdays, 8:30 a.m. to 1:30 p.m.

End of Course Exam: On last day of course Each session will cost $10 and you don’t have to sign up for the whole series up front. Continental breakfast will be provided. Tuition includes manual, Florida Real Estate Principles, Practices and Law, 35th Edition The sessions will be held at SAR from 9 a.m. to 11 a.m. on the following dates. Our generous affiliate members will supply Each class is limited to 20 students. prizes!

Instructor: Michael W. Davenport June 7: Become a Superstar without Spending a Fortune: prospecting and lead generation, communication skills, customer service, and many inexpensive ways to get more bang for your buck June 28: Learn How to Be an Information Digger: Listing contract, HOA restrictions, how to navigate the Clerk of Court, permitting and more July 12: Top Tips and Tricks: Simple ways of working more efficiently with the tools you already have July 19: Knowledge is Power, Navigate with Confidence: A primer on the sales contracts and their addenda.

Award-winning printing and customer service

Realtor®-Attorney Joint Committee sets programs Seminars have been scheduled for May and June by the Realtor® Attorney Joint Committee, with both to be held at the new SAR headquarters, 2320 Cattlemen Road. These seminars are free to SAR members, but advance registration is required. Lunch is provided.

May 22 at 12:30 p.m. - Risky Business: The speakers will be Margy Grant, Vice President of Law and Policy for Florida Realtors®, and Paul Espinosa, John Pearl Insurance, Corporate Training Manager and National Risk Control Manager for Professional Liability Insurance.

June 19 at 12 p.m.: Capacities: LLCs, corporations, partnership and who is authorized to sign for those entities; what the Realtor® should ask the client for when they sign a listing agreement (i.e. articles, operating agreement, partnership agreement).

Come for the educational opportunities, and to check out the brand new SAR facility!

22

MAY 2013

Specializing in pocket portfolios, die-cutting and foil-stamping done in-house FSC and SFI certified to help you go green

Sarasota’s Premier Real Estate Printer 1730 Independence Blvd., Sarasota, FL 34234 (941) 351-1515 • (941) 351-8639 F • www.coastalprint.com sales@coastalprint.com

Sarasota Realtor® Magazine

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Fusion Training Continues in May

Introduction to FUSION - May 2, May 7, May 14, May 20 or May 29 9 - 11 a.m., or; Noon to 2 p.m., or; 2:30 to 4:30 p.m.

Location: SAR Auditorium Registration is limited to 80 per session

In this class, members will receive an overview of the new Fusion MLS system. Members will learn how to customize their home page, execute new searches, access saved searches, navigate search results and property details, explore mapping features, set up prospecting, hotsheets, add & modify listings, create CMAs, and so much more!

Fusion is compatible with both Windows and Mac operating systems and will work in multiple browsers including Internet Explorer, Firefox, Safari, and Chrome. www.sarasotarealtors.com

For Internet Explorer 10, users will need to utilize the desktop mode for Fusion. iPhone & iPad users will be able to use Fusion by downloading the Fusion Experience app from the App Store.

Android users will be able to download the Fusion Experience app from the Play Store. This class does not meet any MFR educational requirements. This class does not provide any CE credits. This is a lecture style class.

MLS Basic May 1 or May 15, (FUSION), 9 a.m. to Noon Mandatory session for all new users.

Learn the basic tools of MLS. It does the work for you, emailing the listings that match your client’s criteria automatically through auto notification. Learn the quick way to find a listing or view your inventory with one click from the Home Page.

Sarasota RealtorÂŽ Magazine

Pre-registration is required for all MLS classes at www.mfrmls.com. All classes are hands-on in the SAR Technology Center (except for Entering and Updating). Registration is limited to 18. Please be sure that you will attend if you reserve a spot! If you need to cancel, please call MFRMLS at 800.686.7451 (not SAR).

MLS Compliance 101 May 1 or May 15, 1 to 2:30 p.m.

Mandatory session for all new users.

In this class you will learn about the My Florida Regional MLS Rules and Regulations and the compliance procedure for accuracy of Listing Data, along with additional educational materials available on MFRMLSUniversity.com Adding/Modifying Listings May 1 or May 15, 3 to 4:30 p.m.

Mandatory class if you will be entering/updating your own listings.

You will be taught how to input and modify listings, enter photos, and add attachments along with valuable tips and techniques.

MAY 2013

23

On the SAR Scene

Gecko’s Brings In the SAR Crowds!

Visit SAR on Facebook at www.facebook.com/SarasotaRealtors

Photos by Jesse Sunday The monthly After Hours Networking events at Gecko’s on Hillview really bring in the SAR crowd. Here, from left, are Peter Salefsky, Darla Furst, Mary Hellhake and Ray Collins.

Adam Chicoine and Kristin Triolo attend the monthly After Hours Networking event at Gecko’s on Hillview.

From left, Kristi Service, Alan Atchley and Kim Midgett attend the monthly After Hours Networking event at Gecko’s on Hillview.

24

MAY 2013

Sarasota Realtor® Magazine

www.sarasotarealtors.com

SAR partners with Habitat for Humanity on new build

SAR and Habitat for Humanity are once again teaming up to help a local family find a new home.

This year’s project is a little different than those accomplished in the past two years. The 2011 and 2012 projects were rehabilitations of existing homes bought in foreclosure by Habitat.

The 2013 project is a complete demolition and rebuild at 1353 21st Street, Sarasota.

“This means we’ll be able to help construct the new home from the ground up,” said Roxanne Foley, chair of SAR’s Community Outreach Committee. “It should be an exciting six months for SAR members! If you’ve ever watched the Extreme Home Makeover show on TV, you’ll know what to expect. And this will be a frame home, so we’ll have an actual wall raising!”

The project gets underway Habitat for Humanity purchased the foreclosed home at 1353 21st Street and then with an opening day ceremony demolished the structure to make room for a brand new, 1,400 square foot home on Thursday, May 2nd at 11:30 with detached garage. a.m., and the first project date on Saturday, May 4th beginning at partnership with the Sarasota-Manatee underway through Fred Scheerle of 7:30 a.m..

Homebuilders Association and others.

Habitat.

Watch your Weekly Update and special Habitat is also partnering with the New Foundation-digging, wall-raising, and emails for all the details on how you can Town community on this project in the major work will be available for all skill get involved. selection of a family, and the ongoing sets starting in May. The completed 1,400 square-foot construction.

“This is the perfect tie-in with SAR frame home and detached garage will be SAR will once again donate $25,000 as the Association just completed and located in one of Sarasota’s Enterprise from the SAR Affordable Housing Fund, moved into the new building, and now Zones, which means it is in an area raised by the Association members and we’re building for our community as targeted for revitalization. administered through the Community well,” explained Roxanne.

Selection of a family is currently Foundation of Sarasota County.

SAR plans to explore other possible

Sarasota releases flood plain information

Current flood plain information may be obtained from the City of Sarasota Building, Zoning and Code Enforcement Department. They can provide the following information: • Community Number • Panel Number • FIRM Suffix • Date of the FIRM’s Index • The FIRM Zone (e.g. “A,” “C,” “V,” etc.)

• Base Flood Elevation (BFE) • Copies of Elevation Certificates for those structures that

www.sarasotarealtors.com

have been required to provide them.

Federal law requires that a flood insurance policy be obtained as a condition of a federally backed mortgage or loan on properties in special flood hazard areas (SFHA).

There is a 30-day waiting period before a flood insurance policy takes effect.

City of Sarasota officials are prepared to meet and discuss any flood plain related questions or problems you may encounter. You can reach the department by calling 941-9544127 or by writing to: City of Sarasota, Attention: Zoning Division, P.O. Box 1058, Sarasota, FL 34230-1058.

Please visit www.sarasotagov.com for more information.

Sarasota Realtor® Magazine

MAY 2013

25

Get powerful PMN training from WCR!

By Mary Hellhake WCR President

Professional training is so powerful, it’ll keep your competition up at night.

The Performance Management Network is a Realtor® designation built from the ground up to bring you the real-world skills, the know-how and the tools that will keep your business out front and on top of an evolving market. The Performance Management Network’s suite of professional performance training courses is taught by recognized experts who dig deep into the hot topics that are driving the marketplace and shaping your business.

Why Earn the Performance Management Network Designation?

Your customers are savvier and more demanding.

There’s more and more information, but less time to process it. The competition is fiercer and faster

than ever. By becoming a PMN Designee, you’ll show your clients that you are committed to ongoing education and professional excellence, and you’ll show your colleagues that you understand and value the importance of a powerful network of business connections.

Enhance your career. Grow your business. Expand your sphere of influence. Apply to become a candidate of the Performance Management Network today! PMN Designation requirements include a combination of coursework and referral transactions.

As a bonus, if you are a Realtor® member of the Women’s Council of Realtors®, Sarasota Chapter, there are scholarships available for the Wednesday August 14, 2013 class called, Effective Negotiating for the Real Estate Professional at the Florida Annual Convention in Orlando, valued at $99. Call one of the line officers below for details.

2013 Leadership Team

26

Mary Hellhake President Michael Saunders & Company Cell: 941-544-0763 maryhellhake@michaelsaunders.com

Peter Salefsky Membership Michael Saunders & Company Phone: 941-924-5107 petersalefsky@mihaelsaunders.com

Susan Phelps President-Elect Cristello and Company RE Cell: 941-726-2227 sarasotasuze@gmail.com

Carrie Starr-Rummery Treasurer Starr Title Insurance Phone: 941-365-7827 carrie@starrtitle.net

Catherine Lamphier Vice-President Membership Michael Saunders & Company Cell: 941-400-4219 catherinelamphier@michaelsaunders.com

Tim Calpin Recording Secretary BMO Harris Phone: 941-363-2237 tim.calpin@BMO.com

MAY 2013

Sarasota Realtor® Magazine

Kristin Triolo Corresponding Secretary Florida Homes eBroker Phone: 941-725-2486 kristintriolo@floridahomesebroker.com

www.sarasotarealtors.com

om

Editor’s Note: This year, SAR’s focus is on “Raising the Bar” and improving the professionalism of our members. Each issue of the magazine will include a case study from the Code of Ethics & Arbitration Manual produced by the National Association of Realtors®. This month’s article relates to notification of changes to the compensation being offered to cooperating agents.

Article 3 Realtors® shall cooperate with other brokers except when cooperation is not in the client’s best interest.

The obligation to cooperate does not include the obligation to share commissions, fees, or to otherwise compensate another broker. (Amended 1/95) Standard of Practice 3-2 To be effective, any change in compensation offered for cooperative services must be communicated to the other Realtor® prior to the time that Realtor® submits an offer to purchase/lease the property. (Amended 1/10) Case #3-7: Time at Which Modification to Offer of Compensation is Communicated is a Determining Factor Realtor® A listed Seller X’s home and filed the listing with the MLS. The property data sheet indicated the compensation Realtor® A was offering to the other Participants if they were successful in finding a buyer for Seller X’s home.

During the next few weeks, Realtor® A authorized several Participants of the Multiple Listing Service, including Realtor® C, to show Seller X’s home to potential buyers. Although several showings were made, no offers to purchase were forthcoming.

Realtor® A and Seller X, in discussing possible means of making the property more salable, agreed to reduce the listed price. Realtor® A also agreed to lower his commission. Realtor® A changed his compensation offer in the MLS and then called the MLS Participants who had shown Seller X’s property to advise them that he was modifying his offer of compensation to cooperating brokers.

Upon receiving the call, Realtor® C responded that he was working with Prospect Z who appeared to be very interested in purchasing the property and who would probably make an offer to purchase in the next day or two. Realtor® C indicated that he would expect to receive the compensation that had been published originally in the MLS and not the www.sarasotarealtors.com

reduced amount now being offered to him, since he had already shown the property to Prospect Z and expected an offer to purchase would be made shortly.

Realtor® A responded that since Prospect Z had not signed an offer to purchase and no offer had been submitted the modified offer of compensation would be applicable.

The following day, Realtor® C wrote an offer to purchase for Prospect Z. The offer was submitted to the Seller by Realtor® A and was accepted. At the closing, Realtor® A gave Realtor® C a check for services in an amount reflecting the modified offer communicated to Realtor® C by phone. Realtor® C refused to accept the check indicating that he felt Realtor® A’s actions were in violation of the Code of Ethics. Realtor® C filed a complaint with the Board’s Grievance Committee alleging violation of Articles 2 and 3 on the part of Realtor® A citing Standard of Practice 3-2 in support of the charge.

During the hearing, Realtor® C stated that Realtor® A’s modification of the compensation constituted a misrepresentation through concealment of pertinent facts since he had not provided Realtor® C with specific written notification of the modification prior to the time Realtor® C began his efforts to interest the purchaser in the listed property. Realtor® A defended his actions by indicating that timely notice of the modification of compensation offered had been provided to Realtor® C by telephone prior to Realtor® C submitting a signed offer to purchase.

Realtor® A also indicated that his modified offer of compensation had been bulletined to all Participants, including Realtor® C, through the MLS in accordance with Standard of Practice 3-2 prior to the time that Realtor® C had submitted the signed offer to purchase. Realtor® A also commented that had Realtor® C submitted the signed offer to purchase prior to Realtor® A communicating the modified offer, then Realtor® A would have willingly paid the amount originally offered.

Based on the evidence presented to it, the Hearing Panel concluded that Realtor® A had acted in accordance with the obligation expressed in Standard of Practice 3-2 based on changing the offer of cooperative compensation in the MLS alone, even without the courtesy phone calls, and consequently was not in violation of Articles 2 or 3.

Sarasota Realtor® Magazine

MAY 2013

Ethics In Action

‘Raising the Bar’ on ethical conduct

27

From the Ground Up

The early days of the SAR headquarters project - from the groundbreaking in July 2012 to the first vertical construction, brought a new level of excitement and anticipation among SAR staff and members.

28

MAY 2013

Sarasota Realtor速 Magazine

www.sarasotarealtors.com

Cement is poured on the new headquarters’ parking lot, which accommodates 199 vehicles - far more than the 85 spots available at the South Tuttle Avenue location.

SAR President Roger Piro stands at the reception area surveying the project as it progressed.

Up to

100%

financing

Above, the walls rise on the new SAR headquarters; and below, Halfacre Construction Project Superintendent Jay Simpson enjoys a sunny, successful day on the job site.

ConstruCtion to Perm FinanCing Call Melia Favorite Office: (941) 359-6820 ext. 3212 Cell: (941) 807-0303 3451 Cattlemen Road Sarasota, FL favoritem@ffsb.com NMLS ID#: 419443

www.ffsb.com equaL hOuSINg

LeNDeR

Subject to credit underwriting and approval. Please contact a mortgage originator for more details on available loan programs. 100% financing applies to VA and USDA loans only.

www.sarasotarealtors.com

Sarasota RealtorÂŽ Magazine

MAY 2013

29

Membership News 30

The Association is pleased to welcome new members!

Designated Realtors®

Averbuch, Alexander: Concordia Realty LLC Barberio, Kay: Barberio & Associates Byers, Donald: Donald W Byers Real Estate Chandler, Braden: Florida Southern Living Realty Conciatori, Dawn: Atlantic & Pacific Real Estate D’Agostino, Kenneth: D’Agostino Real Estate Group Edwards, Robert: ABC Real Estate Services Floyd, Charlotte: Florida 1 Realty Services LLC Jordan, Michael: Kings Realty & Property Mgmt.

Lewis, Trent: Marlin Realty TM Inc. Nay, Tom: Tom Nay Realty LLC Reynolds, Linda: Reynolds Realty of Manatee Thompson, Kenneth: Expedite Real Estate Wharton, Jeremy: Revolution Real Estate LLC

New Members

Abramson, Bruce: Keller Williams Lakewood Ranch Agee, Brian: Lalande Properties Aponte, John: Agent Trust Realty Corp Aveni, Anthony: Coldwell Banker Res R E Bach, Carla: Good Life Realty LLC Bahk, Aimee: All County Prop Mgmt Pros Bhayat, Derrick: Amtrade Realty International Cantin, Sophie: Michael Saunders & Company Capua, John: Xcellence Realty Inc. Channey, Christopher: Relax Realty Group Inc. Derketsch, Lisa: Prudential Elite Realty Svcs Dumas, Constance: Coldwell Banker Res R E Duquette, Mary: Exit King Realty Fenner, Amanda: Keller Williams Lakewood Ranch Ganley, Natasha: Premier Sotheby’s Intl. Realty Gay, Lawrence: Atlantic & Pacific Real Estate Grenier, Nancy: Horizon Realty International Guimei, Moustapha: Keller Williams Lakewood Ranch Hajek, Otto: ABC Real Estate Services Harris, Wayne: Engel & Voelkers Anna Maria Hayman, David: Sandals Realty of Sarasota Johnson, David: Keller Williams On The Water Jones, Richard: Exit King Realty Joyce, Leslie: Coldwell Banker Res R E Keller, Jennifer: One Stop Realty of Sarasota Kiner, Dana: Exit King Realty Kirk, David: Florida 1 Realty Services LLC Kuca, Kimberly: Exit King Realty Kuhn, Kaitlin: King Realty Associates LLC Lamb, Carrie: Keller Williams Lakewood Ranch Masucci, Giuseppe: Horizon Realty International McKeehan, Mia: Keller Williams On The Water McNally, Sarah: Coldwell Banker Res R E Monismith, Mark: Prudential Elite Realty Svcs Morrow, Barbara: Realty Executives Solutions Naylor, Jennifer: RE/MAX Alliance Group Oteri, Renee: ERA Waterside Realty Pope, Anthony: Key Realty Rossi, Kim: Amtrade Realty International Ruster, Patrick: Pierce Properties Inc. Ryan, Terry: Sandals Realty of Sarasota Secker, William: Shore to Shore R.E. Shipley, Donna: Paradise Palms Realty Group Silber, Geri: Southbay Realty Inc. Valenzuela, Rita: EXIT Creative Realty Woods, Charles: Coldwell Banker Res R E

MAY 2013

Now With ...

Adair, Robin: Michael Saunders & Company Adair, Elaine: Michael Saunders & Company Alley, Peta: Coldwell Banker Res R E Arbuckle, Thomas: Coldwell Banker Res R E Booker, James “Tony”: RE/MAX Alliance Group Carpenter, Kathy: RE/MAX Alliance Group Cunha, Maralilian: Exit King Realty Curt, Lisa: Michael Saunders & Company Dale, Gary: Sandals Realty of Sarasota Grosso, Douglas: Premier Sothebys Internat’l Hall, Miranda: True Real Estate Inc Heitmann, Jan: RE/MAX Alliance Group Heitmann, Karin: RE/MAX Alliance Group Jakusovas, Veronica: Wagner Realty LaBonte, John: Charles Rutenberg Realty Inc. Lamielle, Joey: RE/MAX Alliance Group Lockhart, Lori: Keller Williams Lakewood Ranch Malickson, Frank: Rossi & Company Inc. Martin, Jana: Mangrove Realty Associates McDonnell, Andrew: Sandals Realty of Sarasota Miante, Marie: Allen Real Estate Services Inc. O’Hara LLC, Dale: Kings Realty & Property Mgmt.

Otto, Jack: RE/MAX Alliance Group Rossi-Tomanovich, Jennifer: Premier Sotheby’s Intl. Realty Russo, Laurel: Horizon Realty International Smith, Olga: Atchley International Realty Wilkerson, Patricia: KGN Properties, LLC

New Affiliates

Bentley and Bruning P.A.

783 S. Orange Ave, Suite 220 Sarasota, FL 34236 Phone Number: 941-556-9030 Representative: Kevin R Bruning Specialty: Bentley & Bruning is a litigation firm focusing exclusively on complex commercial matters, which includes real estate matters and landlord/tenant issues or preparation of leases. The Firm is led by Attorneys Morgan R. Bentley and Kevin R. Bruning with a support staff of experienced litigation paralegals. Collectively, Bentley and Bruning bring 30 years of complex commercial litigation experience from the highest ranked and best recognized law firm in Sarasota. They each have an active practice with a track record of success in the courtroom as well as an eye on client profitability. Bentley & Bruning is in business to protect its clients from attack or loss of assets through prompt, accurate and insightful counsel and when necessary, through aggressive, efficient litigation.

Email: kbruning@bentleyandbruning.com

Graebel Movers

5250 Eagle Trail Drive Tampa, FL 33634 Phone Number: 813-525-6340 Representative: David Lemke Specialty: No other company manages every service aspect of relocation from door-to-door. We own our thirdparty relocation and move management companies, van line, forwarding operation, nationwide U.S. moving and storage centers, as well as a workplace services division.

Sarasota Realtor® Magazine

www.sarasotarealtors.com

SAR welcomes the April 2013 group of new and returning members! Good luck, and please visit anytime! service the Southeast and Gulf Coast States primarily. While This unprecedented integration means you deal with a single the majority of our painting is for Mall Owners and Managers source for all your global employee and workplace needs. of existing Enclosed and Strip Centers, we have also painted Plus, we deliver many more advantages, including: Time- and a wide assortment of other buildings including shopping cost-savings due to a one-of-a-kind service structure devoid of redundancies and inefficiencies, One privately-owned company centers, food processing plants, grocery stores, churches and church camps, national distribution centers, national retail that sets the benchmark for quality and holds every team stores, feed mills, telephone companies, banks, institutional member accountable, Unparalleled, individualized service that facilities, restaurants, manufacturers, quarries, farmers and customers state they will use again , Web-based technology antique markets. Should you operate multiple local or distant including portals and apps , 24.7 availability to customers , properties, we will be glad to service each location, helping to and Unbiased selection, management and measurement of provide you with uniform standards and appearances. global supply chain for household goods and commercial Email: clair@southerncommercialpainting.com (non-household goods freight forwarding) We are the largest privately held moving company in the US. We provide Office, Industrial and Residential relocation and storage.

The Grounds Guys of Sarasota Email: dlemke@graebel.com 2142 Old Arbor Court Sarasota, FL 34232 Reliable Well Services Phone Number: 941-377-4818 5491 S. Cranberry Blvd Representative: Randy Fischer North Port, FL 34286 Specialty: The Grounds Guys of Sarasota provide professional Phone Number: 941-240-8280 landscape maintenance services to Sarasota, Florida and Representative: Steven P Goins surrounding cities of Longboat Key, Bradenton, Cortez and Specialty: We are a full service water well company. From Bradenton Beach. Veteran and family owned and operated, we newly constructed water systems, to correcting you’re out of serve everyone from single-family homes to large corporations. water situation, to determining your best water treatment We are fully dedicated to taking your lawn care desires and alternatives. We are the most professional water treatment making them our own. Whether it’s outdoor lighting, mowing team in Southwest Florida. When you become a member you or light landscaping, we offer a wide array of lawn care have guaranteed service 365 days a year. Your pumps, tanks, solutions. pressure switches and all the moving parts in your softener are Email: randy.fischer@mail.groundsguys.com all covered. If you do not have water, you call us. We come to repair, replace or whatever we have to do to get you water! Our Vesta Equity LLC Service Agreement takes the worry out of costly repair bills.

6960 Professional Pkwy East Think of it as a water bill and you will never have to worry Sarasota, FL 34240 about your water well system. Leave the worry to us.

Phone Number: 941-358-6981 Email: rwsllc@yahoo.com Representative: Jay Ockman Specialty: Vesta Equity is an investment firm targeting real Southern Commercial Painting estate opportunities throughout the Southeast United States 6228 Pauline Avenue and Texas. Vesta invests private capital primarily through Senior Sarasota, FL 34231 Mortgage Bridge Loans and Mezzanine Capital. Vesta Equity’s Phone Number: 941-223-6686 strength lies in our honesty, dependability and flexibility. We Representative: Clair S Stauffer provide fast and reliable service to real estate investors and Specialty: Founded and operated by Clair S. Stauffer. With 25 mortgage brokers seeking solutions to financing opportunities. years (of ) experience, we offer pressure washing, maintenance Vesta encourages individuals acting in any capacity to review painting or complete repainting for commercial, industrial, our programs and contact us to discuss your capital needs. retail locations, multi-family buildings and churches. We Email: jay.ockman@vestaequity.com www.sarasotarealtors.com

Sarasota Realtor® Magazine

MAY 2013

31

E DUCATION & E VENTS C ALENDAR Monday

Tuesday

Wednesday

Thursday

Friday

April 29 8 a.m.

30

May 1

2

3

6

7

8

9

10

13

14

15

16

17

8 a.m.

GRI 200 Series 5 p.m.

Sales Associate Pre-License Class

GRI 200 Series

8:30 a.m. CID Board 9 a.m. Fusion Training 12 p.m. Fusion Training 2:30 p.m. Fusion Training

9 a.m. Orientation 1 p.m. Code of Ethics

20 9 a.m. MLS Basic 1 p.m. Compliance 101 3 p.m. Adding & Modifying Listings

9 a.m. Fusion Training 12 p.m. Fusion Training 2:30 p.m. Fusion Training 5 p.m. Sales Associate PreLicense Class

21

9 a.m.

CID General Membership Meeting 2 p.m.

SAR New Building Ribbon Cutting and Open House

7:30 a.m. Toastmasters 9 a.m. MLS Basic 9 a.m. Emerging Leaders 1 p.m. Compliance 101 3 p.m. Adding & Modifying Listings

11:30 a.m.

Affiliate Smart Lunch

7:30 a.m. Toastmasters 9 a.m. MLS Basic 9 a.m. Emerging Leaders 1 p.m. Compliance 101 3 p.m. Adding & Modifying Listings 22 12:30 p.m.

RAJC Legal Liability Seminar

8 a.m. MLS Express (UPCC) 9 a.m. Fusion Training 12 p.m. Fusion Training 2:30 p.m. Fusion Training 5 p.m. Sales Associate PreLicense Class

8 a.m.

MLS Express (SAR) 5 p.m.

Sales Associate Pre-License Class

8 a.m.

MLS Express (SAR)

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

MAY 2013

9 a.m.

CID Commercial Marketplace

9 a.m.

CID Commercial Marketplace (SAR)

9 a.m.

CID Commercial Marketplace (MAR)

$2 23

8 a.m.

MLS Express (SAR)

24

$2

9 a.m.

CID Commercial Marketplace (SAR)

$1

$1

$ 28 5 p.m.

Affiliates After Hours Networking (Gecko’s on Hillview)

29

8:30 a.m.

9 a.m. Fusion Training 12 p.m. Fusion Training 2:30 p.m. Fusion Training

30

8 a.m.

MLS Express (SAR)

31

9 a.m.

CID Commercial Marketplace (SAR)

Note: All events/classes are at SAR, 2320 Cattlemen Road, except where noted

My Florida Regional MLS Training

The My Florida Regional MLS training classes are offered at no cost to MLS participants. All classes are HANDS-ON in the SAR Tech Center (except Fusion Training). Please register for all MLS classes at the MFRMLS website: http://mfrmls.com. Click on “Register for Class” on the home page under the heading “Membership Director.”

Sarasota Association of Realtors®, Inc. 2320 Cattlemen Road Sarasota, FL 34232

27

1,2

1,0

8

6

4

2

9.0 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 Mar‐12

Apr‐12 May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

Oct‐12

Days on Market 250

Nov‐12

Dec‐12

Jan‐13

Feb‐13

Mar‐13

Single Family Condo

200 150 100 50 0 Mar‐12

Apr‐12

May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

Oct‐12

Nov‐12

Dec‐12

Jan‐13

Feb‐13

Mar‐13

Single Family

Sales Volume

Condo

$250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 $0 Mar‐12 Apr‐12 May‐12 Jun‐12

Jul‐12 Aug‐12 Sep‐12 Oct‐12 Nov‐12 Dec‐12 Jan‐13 Feb‐13 Mar‐13

New Listings

Single Family Condo

1,200 1,000 800 600

Sarasota Association of Realtors® MLS

400 200 0 Mar‐12

Apr‐12

May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

Oct‐12

Nov‐12

Dec‐12

Jan‐13

Feb‐13

Mar‐13

The Xtra Pages - Digital Version Only

Single Family Condo

Months of Inventory

First Quarter 2013 Report Single Family Sales ‐ By Quarter

REO

Short

Market

1400 1200 1000 800 600 400 200 0 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

Condo Sales ‐ By Quarter

2012‐Q3

REO

2012‐Q4

Short

2013‐Q1

Market

700 600 500 400 300 200 100 0 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

Single Family Median Sale Price

2012‐Q2

2012‐Q3

2012‐Q4

REO

Short

Market

2013‐Q1

$300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

Condo Median Sale Price

2012‐Q2

REO

2012‐Q3

Short

2012‐Q4

2013‐Q1

Market

$300,000 $250,000

Source: Sarasota Association of Realtors®

$200,000 $150,000 $100,000 $50,000 $0 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

2012‐Q3

2012‐Q4

2013‐Q1

Single Family Condo

REO Sales ‐ By Quarter 500 450 400 350 300 250 200 150 100 50 0 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

2012‐Q3

2012‐Q4

2013‐Q1

Single Family

Short Sales ‐ By Quarter

Condo

400 350 300 250 200 150 100 50 0 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

2012‐Q3

2012‐Q4

2013‐Q1

Single Family Condo

Market Sales ‐ By Quarter 1400 1200 1000 800 600 400 200 0 2010‐Q3

2010‐Q4

2011‐Q1

2011‐Q2

2011‐Q3

2011‐Q4

2012‐Q1

2012‐Q2

2012‐Q3

2012‐Q4

2013‐Q1

Source: Sarasota Association of Realtors®

Annual Sales ‐ 2000 to 2012 Single Family

Condo

Total

11267 10562 9697 8224

8167 7036

6533

9,179 7603

7,596 6,841

6,504

6358

5,603 4,940

4,349

4,353 3,193

2,184

2,096

3,671

3,721

2,564

2,005

6739 6042

5820 4,626

2001

2002

2003

2004

2005

2006

5,183

5,466

5,938

3,922

2,120 1,194

2000

6,570

2007

2008

1,556

2009

2,137

2,286

2010

2011

2,599

2012

Annual Median Sale Price ‐ 2000 to 2012 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

Single Family $132,300 $172,500 $191,000 $226,000 $272,500 $351,000 $342,000 $303,000 $230,000 $160,000 $163,000 $155,925 $175,000 Condo

$142,000 $145,000 $173,000 $191,000 $225,000 $305,000 $301,225 $336,250 $320,000 $210,000 $163,000 $156,800 $175,000