Smooth Sailing - Realtor Association of Sarasota and Manatee

Transcription

January 2008
Smooth
Sailing
Helen Sosso, 2008 SAR President,
believes in the importance
of professionalism, respect
Page 6
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Contents
Sarasota
M
a
g
a
z
i
n
Sarasota Association
of Realtors®, Inc.
®
e
®
“The official monthly magazine of the Sarasota Association of Realtors ”
6
8
16
36
Volume 5 • Issue 1 • January 2008
Volume 5, Issue 1
January 2008
R E A LTOR
14
4
Sarasota Realtor®
Building New Bridges
Helen Sosso leads the Sarasota Association of Realtors® into 2008 as the trade
association’s new president. She expects a year filled with new challenges, and a
strong commitment to the promotion of Realtor® ethics and professionalism.
MLS in Transition
Before Sarasota joins the Mid-Florida Regional MLS system in August 2008,
there will be changes to the current system, including a new version that
launched in mid-December, and new rules and regulations related to short
sales and foreclosures.
Youth in Service
The Sarasota Young Realtors® raised money throughout the year and made
a wonderful holiday contribution to the Agape Corner Boarding School in
early December.
CID Awards
The Commercial Investment Division of SAR awarded Jagbir Grewal with the
2007 Commercial Realtor® of the Year honor, and recognized Janet Robinson
with the 2007 Meritorious Service award.
The Next Congress
Coming on the heels of the first-ever International Congress in Sarasota, a
second Congress has been slated for September 2008. Catch up on the early
planning and details!
In every issue
2008 Officers
President
Helen Sosso
Prudential Palms Realty
President-Elect
William Geller
Suncoast International Realty
Secretary
Michael Bruno
Coldwell Banker Residential Real Estate, Inc.
Treasurer
Erick Shumway
RE/MAX Gulfstream Realty
Immediate Past President
Joe Hembree
Hembree and Associates, Inc.
Chief Executive Officer
Kathy Roberts
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 Member Services
Dan Andrews
10- Governmental Affairs
14- Property Appraiser
17- CID Update
20- Sales & Listing Statistics
22- Education Programs
28- Rookie Corner
31- WCR News
32- Membership News
34- Ethics in Action
36- International Real Estate
40- Calendar of Events
Director of MLS Information Systems
Jesse Sunday
Director of Professional Development
Catherine McCaskill
Governmental Affairs Director
Marc Mansfield
Production
Serbin Printing, Inc.
Sarasota Realtor® Advertising: For information on
advertising rates and deadlines, contact Ray Porter at
941/328-1168 or [email protected].
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.
DID YOU KNOW? The National Association of Realtors® was founded
as the National Association of Real Estate Exchanges on May 12, 1908 at
the YMCA Auditorium in Chicago, IL, making this the centennial year.
January 2008
3590 South Tuttle Avenue
Sarasota, Florida 34239
Phone: 941/923-2315
FAX: 941/923-0191
www.sarasotarealtors.com
Sarasota Realtor Magazine
Editorial ideas and manuscripts are welcomed. Byline
articles and columns express the opinions of the writers
and do not necessarily reflect the policies or sentiments
of the Sarasota Association of Realtors®, Inc. All
submitted copy is subject to editing.
2008 Copyright© by the Sarasota Association of
Realtors®, Inc. All rights reserved. Reproduction in whole
or in part without written permission is prohibited.
SAR thanks sponsors of successful holiday party
More than 250 members and guests attended the Sarasota Association of Realtors® annual Installation and Holiday Party
on Dec. 6 at Michael’s On East.
The entertaining and joyous event culminated a very successful year under the leadership of SAR President Joe Hembree, and
also served to recognize the 2007 Realtor® of the Year, Carla Rayman, 2007 Humanitarian of the Year, Denise Leider, 2007
Meritorious Service Award winner, Michelle Crabtree, and the President’s Award winner, Debra Lichter.
SAR thanks the following sponsors for helping to make the event a reality:
American Home Shield
Royal Flush Sponsor
Andy Gray Schools of Real Estate
Abel Band, Chartered
Taylor Lending Corp
The Founders Club
Straight Flush Sponsor
Steven R. Greenberg, Esquire
Supra
MarketLinx
Table Sponsors
Flush Sponsors
Americo Title Company
Charity & Weiss International Realty LLC
Chase
Hembree & Associates, Inc.
Premier Properties of Southwest Florida Inc
ProspectsPlus
Showcase Designs
Trulia
Williams Parker Harrison Dietz & Getzen
Holcomb Facial Plastic Surgery
John Cannon Homes, Inc
iMapp
Fine Home Inspections, Inc.
Baskerville Advertising
Herald Tribune Media Group
Neal Communities
Osprey Real Estate Service, LLC
Sir Speedy Printing
Sylvia Golden Norris PA
The Observer Group
Terra Ceia Bay
Straight Sponsors
Al Harris Pest Control
Ambassador Realty Executives
SAR seeks candidates for Leadership Development program
The Sarasota Association of Realtors® announces a new
leadership training program beginning in 2008. The program
is designed to introduce potential leaders to all aspects of
SAR, and to find and train future volunteers and leaders for
the local, state, and national associations of Realtors®.
This initiative is one of the top priorities of the SAR
Strategic Plan, to better facilitate members participation in
the various committees and leadership posts.
The 2008 inaugural class will be limited to 25 members
and provided at no cost to participants. Applications will
be reviewed and participants selected by the SAR Executive
Committee. For an application and complete details of the
program requirements, please visit the SAR web site, www.
sarasotarealtors.com, and look under Hot Topics.
Deadline for the application is Jan. 18, 2008 H
Here are the program highlights:
1. Designed to introduce potential leaders to all programs of SAR and to find, train future volunteers and leaders for the
local, state, and national association.
2. Includes four program days that introduce the breadth of our local association and its membership area, the scope and
systems that operate the state and national organizations, participation in leadership training at the conventions, and skills
training for volunteer leadership at SAR.
3. Affiliates will sponsor individual program days, to be presented at various locations.
5. Graduates should be prepared to become volunteers and committee chairs for SAR and prepare for future local SAR Board
leadership. They will be encouraged to volunteer for state and national committees in their personal areas of interest.
7. Applications will be open to all members, with a class size limited to 20 members, and provided at no cost to
participants.
8. Applications will be reviewed and participants selected by the Executive Committee.
January 2008
5
Cover Story
6
Calm Waters
w
President Helen Sosso takes the rudder to lead SAR into 2008
Whether guiding a major merger of two local real estate powerhouses, managing yet another
firm in Pittsburgh in her “spare time,” or taking the reins of the largest trade association in the
county, Helen Sosso maintains a calm, even-tempered and professional demeanor. It’s part of
her nature, and has enabled her to succeed in the often turbulent world of real estate.
While traveling to
Realty with this same time-honored philosophy. The
her Bird Key home for
team of Helen and Scott has more than 30 years of
this interview, Helen
experience in the real estate industry, and they stress
even managed to keep
that first-hand knowledge is what keeps them in touch
her composure after a
with the area’s home buyers and sellers. In 2006, the
holiday traffic mishap
firm combined with Prudential Cascade Realty to form
on the John Ringling
the fourth-largest local real estate brokerage, with more
Causeway (a fenderthan 275 agents in 12 offices.
bender in which
As SAR’s new president, Helen believes her primary
she was rear-ended
goal in 2008 will be coordinating the transition from
by a 17-year-old).
the current SAR-owned MLS service to the new
Effortlessly juggling
regional Mid-Florida MLS. The regional MLS has been
her personal and
a dream of local brokers and agents for years, and was
professional life has
finally realized with an agreement in the fall of 2007.
been a trademark of
The regional welcomed five new member associations
Helen’s for years, and
– the Sarasota Association of Realtors®; Englewood
she intends to bring her calming clarity and perspective
Area Board of Realtors®; Manatee Association of
to her new role as leader of SAR’s board of directors.
Realtors®; Punta Gorda – Port Charlotte – North Port
Association of Realtors®; and Venice Area Board of
“I want to use my year as president to encourage
Realtors®.
our members to be more cooperative, and more
professional in our dealings with one another,” said
“This has been a major goal for many years, and in
Helen. “We all have the same inventory of properties
August 2008 we’ll finally make the switch to a regional
to sell, and it’s more important than ever in the current
MLS,” said Helen. “There’s a lot of work to be done
market that we all work together and maintain our
between now and then, and we want to make this
professionalism.”
change as easy on our members as we possibly can.”
Achieving higher levels of Realtor® education is
Helping in that task will be the fact that the current
another vital goal for the future, Helen noted, and
Sarasota MLS vendor is also the vendor for the regional
professional development will be an area she will stress
during her presidency. She noted SAR has
a responsibility to help its members excel
“I want to use my year as president to encourage
in the marketplace by offering top-notch
training and ongoing education.
our members to be more cooperative, and more
“There is tremendous value in
professional in our dealings with one another. We
achieving
additional
designations
all have the same inventory of properties to sell,
and broadening your experience and
and it’s more important than ever in the current
training,” said Helen. “The days are long
®
market that we all work together and maintain
gone when a Realtor can simply be an
offer taker. Those who succeed in the
our professionalism.”
coming years will offer the best, most
professional customer service. It’s time
– SAR 2008 President Helen Sosso
that we all sharpen our saws and get down
to work. We have to all take pride in
MLS. “Hopefully, this will be as smooth a transition as
customer service at all levels.”
possible for the brokers, the agents, and SAR staff.”
Helen and her son, Scott, operate Prudential Palms
January 2008
Helen’s second major goal is to
position SAR as a valuable information
resource for the local media.
Strengthening the communication
with the media will help improve the
Realtor® image in the community,
and help achieve the credibility the
association needs going forward.
“We must look for opportunities to
reach out and enhance the Realtor®
image through more press releases,
and an ongoing positive relationship
with the local media,” said Helen.
Along those same lines, Helen hopes
to see even greater involvement of
SAR in local government and political
circles through the Governmental
Affairs committee. She noted this
area has seen major improvement in
recent years with the hiring of a shared
Governmental Affairs Director with
the Venice association. And despite
some setbacks regarding positions on
issues taken by SAR in 2007, but not
backed by the community, Helen
believes the association will grow as a
political force in the Sarasota area.
“Our voice must always be heard
on the important issues impacting all
of us,” explained Helen. “We have
made great strides, but we just haven’t
been at the table long enough yet to
make a major difference. We should
be combining our resources more
with the Home Builder’s Association
(of Sarasota County) in the future, as
we share common interests and goals
with them.”
On the real estate front, Helen hopes
2008 sees improvement over 2007,
and said the burgeoning property
inventory remains a challenge for local
agents. She believes that numbers will
start to decline, and hopes the subprime woes that have impacted the
state and nation will be resolved in
the new year.
“I’m very positive concerning the
future of our marketplace,” said
Helen. “We have it all in Sarasota, and
by demonstrating our professionalism
through greater customer service,
the real estate community will get
through this downturn with resilience
and strength.” H
Year of opportunity:
New Year’s resolutions
you should make
By John D. Mayfield, REALTOR® Magazine Online
You’ve already made the decision that throughout the year? What types and ways
2008 will be a great year for business. Now of communication will you formulate
is the time to back up that decision with to stay in touch with your clients and
some concrete plans. Use the new year as customers to build your business?
an excuse to break bad habits and adopt
Make sure your follow-up systems are in
good ones — and to finally accomplish place and fine tuned to save valuable time
goals that you set long ago.
throughout your busy days next year.
I’ve laid out seven resolutions that I
think every real estate practitioner should I resolve to …
make in order to reach their full potential Plan out my marketing
next year. If you stick to these resolutions, activities for 2008
you’ll be well on your way to making 2008
Although this can change from time
a year of success.
to time, mapping out your proposed
marketing ideas and expenditures for the
I resolve to …
upcoming year is a great way to strategically
Develop a business plan
look at your business. One good way to
Planning is essential for continued accomplish this is to get a year at a glance
growth. To effectively implement a good calendar where you can begin to think
business plan you need to research your about marketing ideas and campaigns you
local market, pinpoint your goals and want to initiate. If you neglect this activity,
desires, and of course, lay out a realistic you’ll likely implement a marketing plan
business budget. Even if you already have that is disorganized and ineffective in
a business plan, it’s always a good idea to many ways.
get your plan out, shake off the dust, and
Look at how you spend your dollars
revise it for the business changes you’ll for the coming year, when postcards go
make in the year ahead.
out, special promotional items, school
support, and more. By adding this to your
I resolve to … Create
checklists and action plans 12 month marketing calendar you’ll have
a more targeted, sensible approach.
for the upcoming year
December is an excellent time to I resolve to …
revise and rewrite new action plans and
checklists for your business. What steps Get organized
Barbara Hemphill tells about her
and procedures will you initiate for
new listings taken? How many times wonderful method of organization by
will you contact your sphere of influence following the acronym “F.A.T.” in her
Continued on page 38, See Resolution
January 2008
7
MLS FAQ
New rule in place for MLS Short
Sale/Foreclosure search criteria
The MLS Rules and Regulations of the Sarasota
Association of Realtors® have been updated to
require disclosure and a new search criterion has
been added.
Please update your listings now so other agents
searching for Short Sales or Foreclosures can find
your listing.
In the “Special Information” section of Listing
Maintenance, please select the appropriate option(s).
Also, if you are searching, this is where you can
specify which one you’d like to find.
Below is the new rule regarding Short Sales:
SECTION 5.4 SHORT SALES: In instances, such
as a short sale, the gross commission may be subject
to court or to lender approval. In such instances,
either the potential reduction in compensation
payable to cooperating brokers or the method by
which the potential reduction in compensation
will be calculated must be clearly communicated to
potential cooperating brokers.
Such disclosure must occur at the time of MLS
input, if known, or within one (1) business day
upon receipt of knowledge, if prior to receipt of
an offer. Such disclosure should be included in the
Agent Private Remarks section. If knowledge of a
short sale is received after initiation of negotiations,
then disclosure must be made in writing in either the
sales contract or an addendum thereto, as well as in
the Agent Private Remarks section of MLS. H
New MLXchange Version 4.0
launched on Dec. 18
MLXchange Professional Version 4.0 was released
for use by SAR members on Dec. 18. The upgrade
was automatic, and there was no software to install.
However, note that this upgrade did deliver new
ActiveX controls.
Office Administrators who have not done so will
need to download new files in offices where agents
have limited logins. You can print out the new
MLXchange Professional Version 4.0 manual at: http://
www.firstamericanmls.com/support/support_
mlxchange_documentation.asp
Pop-up Blockers: MLXchange checks to see if you
have a pop-up blocker enabled. If you have a pop
up blocker, or several pop up blockers enabled,
you will need to set them to allow pop-ups from
MLXchange. In order to use MLXchange successfully,
Internet Explorer is the only browser you should use.
Do not use other proprietary browsers such as AOL,
MSN, Firefox, Opera, Safari, etc. Set your screen
Resolution at 1024 x 768. Please note that 800 x 600
is no longer supported.
Maximize the Internet Explorer Window: With
more information available to you from the Homepage
than in previous versions, it is helpful to maximize the
Internet Explorer window and reduce clutter. Press the
F11 key to maximize your browser window.
To restore your browser menu, just press F11 again. If
you are using Windows XP, Service Pack 2 is required.
You can update your Windows XP by clicking on
Tools > Windows Update from the top left of Internet
Explorer. If you don’t update to Service Pack 2, you will
get an error message when loading the application.
On Market Listings: Now when you do an Address
Search on the Home Page, there is a new check box for
On Market Listings. This box is checked by default.
Un-checking the box will include all listing statuses.
The system will always remember the last state.
Client Gateway (formerly Private Client View):
Listings flagged with “associate” to clients are stored under
Agent Recommendations, whereas e-mailed listings are
now stored under Additional Properties for your clients.
Clients can save their own Searches, Favorites and
Possibilities or delete listings using Rejects.
Client Gateway - Agent Mode View: To preview
the agent view of a Client Gateway, click on Preview
Client Website using the Action bar under the Client
file. Alternatively, you can click on the View Page link
located under the Client Gateway tab under the Client
file. The Agent Mode view is identified as “Agent Mode
Active” and allows you to see listings marked as Rejects
by the client. Clients have a slightly different view
that allows them to use the Save this Property feature
described above and deletes rejected properties.
Client Status: More than just a label, status (Active,
Continued on page 19, See MLXchange
8
January 2008
SAR launches new ActiveKEY
technology next month
t
The Sarasota Association of Realtors®, through GE Security, will launch
the new Supra ActiveKEY wireless lockbox key in February. Details will
be available soon on www.sarasotarealtors.com, and special email
alerts will also be sent to subscribers of the service.
also be updated by an
Internet connection
through a computer, or
by manually entering
temporary update codes.
Update codes can be obtained through KIMvoice, KIMweb, or
Supra Support.
2. But what if my ActiveKEY is lost or stolen?
Because of the cellular technology, if your key is lost or stolen,
it can quickly be deactivated. Please report lost or stolen keys
immediately to your organization or Supra support.
3. What happens when I go into an area where there’s no
cell service?
Your ActiveKEY won’t be able to communicate with the Supra
network when it’s out of cell range so it won’t receive showing
notifications. However, as long as it’s been within cell range
in the last 24 hours it will remain active and you can open
keyboxes. Your key can also be manually updated if it expires
while out of cell service.
4. Does the ActiveKEY need to be within cell service to
open keyboxes?
The ActiveKEY does not need to be within cell service to open
Supra ActiveKEY Facts
a keybox. It does need to be updated, meaning it needs to have
1. When does an ActiveKEY expire?
been in cell service for 10 continuous minutes within the last 24
An ActiveKEY expires only if it has not been in contact with hours or it will need to be manually updated.
the Supra system for more than 24 hours. The key disables
5. How do I turn on the flashlight?
itself until it can return to cell coverage and contact the Supra
All operations start with the on/off button. Press the on/off
system for at least 10 continuous minutes. The ActiveKEY can
GE Security created the new ActiveKEY technology, the newest
addition to the firm’s real estate product line. ActiveKEY is the
first wireless lockbox key designed by real estate professionals for
real estate professionals. It features a no cradle design, no update
hassles, and virtually no attention required.
ActiveKEY keeps itself updated 24/7 through frequent cellular
connections to the Supra network. When an ActiveKEY opens
one of your iBoxes, you receive a real-time instant showing alert
on your key device. You will know right away when someone has
entered your listings.
ActiveKEY is easy to use. Simply scroll through the ActiveKEY
menu and follow instructions displayed in the window. ActiveKEY
has lots of friendly features, including a built-in flashlight and a
fully lighted keypad for opening iBoxes in low light. ActiveKEY
comes with a power cord, a mini-USB cable and a clip-on pouch
with a pocket for your business cards. An optional car charger is
also available.
ActiveKEY from GE Security will simplify your ability to
conduct your real estate business. ActiveKEY is convenient, easy
to use, and secure. Friendly features and wireless authentication
make ActiveKEY the ideal lockbox key for those who want basic
lockbox functions and no hassle.
Continued on page 15, See ActiveKey
Pay SAR dues by Jan. 15 to avoid suspension of services
Due Dates, Late Fees, and MLS Suspension:
• Instructions for all payments
Pay online through our safe, always-available internet site
• Due: Dec. 15, 2007; Past Due: January 15, 2008, 5:01 p.m.
• go to www.sarasotarealtors.com
• $50 late fee assessment on open balances a/o January 15,
• click on MY SAR ACCOUNT link at top of page
2008, 5:01 p.m. (No Exceptions).
• click on “Pay/View Bill Online”
• Suspension of MLS services on accounts with unpaid MLS
• to print a copy of your invoice, click on the invoice number
fees a/o January 15, 2008, 5:01 p.m.
• online charges will appear on your bank and credit card
Payment Methods:
statements as “Realtor Association/MLS”
ELECTRONIC PAYMENTS ONLY!!!
or
• Two payment options:
Come
to
the
SAR
offices
and
use our computer in the library
1. Deduct directly from your checking account via:
a. Debit card (MC,V) – the easiest way to have the payment which is programmed to open directly into the log-in screen and
has easy instructions located at the workstation for your use
deducted from your checking account.
b. Electronic check – use same information as on your Once payments are made online, they are updated to your
check.
account within 72 hours. We encourage you to go online to
2. Credit card (MasterCard, Visa, or American Express).
check the status of your account.
January 2008
9
Governmental Affairs
Voters face possible amendment
to the Florida Constitution
t
By Marc Mansfield, Governmental Affairs Director
The Florida Constitution is the document that establishes and describes the duties, powers,
structure and function of the Florida government and also establishes the basic law of the
state.
The Constitution has been amended numerous
times during its lengthy history, with one of the most
recent amendments being approved in 2006. That
amendment required future constitutional amendments
to be approved by 60 percent of Florida voters.
On Jan. 29, 2008, Florida citizens will vote on a
state-wide property tax proposal which, if approved,
will also amend the constitution.
Adopted in 1968, Florida’s current constitution is
the state’s sixth constitution. Florida’s five previous
constitutions dating back to 1838 were reflections of
the time periods in which citizens lived and worked.
The following is a brief outline of the history of
Florida’s Constitution:
1838 Seeking statehood for Florida, 56 delegates
drafted the first version of the Constitution
which established a bicameral (meaning one
having two separate and distinct lawmaking
assemblies) Legislature, a one-term governor
and designated that department heads be
selected by the Legislature.
1861 In order to formally secede from the United
States, delegates met in Tallahassee to officially
tie Florida to the “Confederate States of
America.” Laws governing the convention
gave it the power to make necessary changes
and therefore this constitution did not have to
be submitted to the electorate for ratification.
1865 To re-enter the union under Presidential
Reconstruction a constitution was created by a
convention called by the appointed governor.
This constitution was never in effect. The U.
S. Congress rejected it and put Florida under
Radical Reconstruction, i.e. military rule until
1868
1868 Florida’s fourth constitution was often referred
to as the “Carpetbag” constitution due to
the unstable conditions of post Civil War
Reconstruction. It authorized the governor to
appoint county officials, implemented a public
school system and established a state prison.
1885 In response to abuses during post Civil
War Reconstruction, this version weakened
executive authority and added checks and
balances. It created an elected cabinet and a
requirement to elect government officials. This
constitution came to be Florida’s longest-lived
and most amended constitution.
1968 Due to the large number of amendments it
became apparent a more modern form of a
constitution was required. As such, Florida’s
current constitution was adopted and replaced
the 1885 version.
We strongly encourage our members to visit your
local polling place on Jan. 29 and cast your vote! H
Election
Election Day
Last day to register
Presidential Preference Primary
January 29, 2008
Deadline has passed
February 5, 2008
January 7, 2008
Town of Longboat Key General
& Special Districts
March 11, 2008
February 11, 2008
Primary
August 26, 2008
July 28, 2008
General
November 4, 2008
October 6, 2008
Town of Longboat Key
Preliminary (if necessary)
Supervisor of Elections • Sarasota County Terrace Building • 2001 Adams Lane, Sarasota • (941) 861-8600
10
January 2008
The Florida Constitution has
been amended numerous
times during its lengthy
history, with one of the
most recent amendments
being approved in 2006.
That amendment required
future constitutional
amendments to be
approved by 60 percent of
Florida voters.
January 2008
11
Property Appraiser
Will state property tax law
change this year?
p
By Jim Todora, MAI, CAE
Sarasota County Property Appraiser
Property Tax reform has been one of the more talked about issues in 2007. On Jan. 29,
2008, assuming there is no legal intervention, the voters in the state of Florida will have an
opportunity to make the most significant changes to the property tax laws since at least 1992,
when the Save Our Homes amendment was approved.
Last month, I wrote about one of the proposed
changes: Save Our Homes Portability (see December
2007 issue of the Sarasota Realtor® Magazine). There
are three additional proposed changes:
1) An additional Homestead Exemption
2) An Assessed Value Cap on Non-homestead
property
3) An exemption for Tangible Personal Property.
A brief look at each of these might be helpful in
considering how to vote.
Additional Homestead Exemption
If approved, this exemption worth $25,000 would
apply to the Assessed Value of Homestead Exempt
property above $50,000. In other words, the first
$25,000 which is now exempt, would continue to be
exempt. The second $25,000 would be taxable, and
the third $25,000 would be exempt. Therefore, a
$75,000 Assessed Value is necessary to enjoy the full
benefit. This additional exemption applies to all tax
levies EXCEPT school taxes.
Assessed Value Cap On NonHomestead Property
If approved, beginning in 2009 the Assessed Value
of all non-homestead property shall not increase
annually by more than 10 percent unless the property
changes ownership, or a qualifying improvement is
made to the property. This exemption will expire in
2019, unless renewed by the voters. This exemption
applies to all tax levies EXCEPT school taxes.
For more
information,
contact the Property
Appraiser’s office
at 941.861.8200
or visit www.
sarasotaproperty.net
12
Exemption of Tangible Personal
Property
Personal property such as furniture, fixtures and
equipment is subject to ad valorem tax. Household
furnishings are currently excluded from tax. This
new law, if approved by the voters, would create an
exemption of the first $25,000 of the Assessed Value of
January 2008
personal property. In order to receive the exemption,
the owner must file a return with the property
appraiser. Thereafter, if the property does not exceed
the exemption amount, there will be no need to file
future tax returns. There are significant consequences
for violation of the law. This exemption applies to all
tax levies, including schools.
Comments
Most of the personal property accounts are small
in value. This is because many small businesses have
little personal property such as computers, desks and
so forth. If the proposed exemption is approved by
the Florida voters, in Sarasota County, based on 2007
data, approximately 84 percent of all personal property
accounts would be removed from the tax roll. However,
their removal would represent less than one-half of one
percent of the total countywide taxable value. In many
cases, the current cost of administering these small
accounts is more than the revenue they produce. Thus,
there removal will save all of the taxpayer’s money.
All of the proposed changes up for voter consideration
will have no effect on the maximum amount of taxes
levied. In 2007, the Florida Legislature already has
limited the maximum amount of taxes that can be
levied by counties, cities and special districts, regardless
how the tax base changes, up or down. Therefore, if
approved by the voters, these changes will affect the
distribution of the total tax burden, but not the tax
levied.
In my opinion, the election on Jan. 29, 2008
represents an opportunity for the voters to make
significant changes to Florida’s property tax law
that could provide benefits and spark the local real
estate market.
The four proposed issues have been bundled by the
Florida Legislature into a single “yes” or “no” vote. In
other words, the voter must choose all or nothing when
casting their ballot.
Don’t forget to vote, it will affect your future! H
January 2008
13
Sarasota Young
Realtors® schedule
upcoming events
Sarasota Young Realtors®:
A Reason to Believe
t
The Sarasota Young Realtors® gladly added another first to their
list of achievements this year - a charitable donation to Agape
Corner Boarding School, a safe home and school for 16 kids who
are always in need.
MEETINGS
12:00 pm – 1:30 pm
Location: SAR Auditorium
Friday, Jan. 11
“REO & Foreclosures”
Friday, Feb. 8
FHA and VA Loans
Friday, March. 8
Personal Marketing
Method of registration and payment
($5 to cover lunch) is to visit our
website at www.sarasotarealtors.
com, go to Education, then Register
for Classes, then SYR Membership
Meeting. Pay by Visa, MasterCard,
American Express, or Debit Cards.
SOCIAL EVENTS – 5:30 pm
Wednesday, Jan. 23
LeBarge Cruise
Members of the Sarasota Young Realtors® gather on Dec. 7
with residents and staff of Agape Corner Boarding School.
Receiving no funding from SAR’s budget, the Sarasota Young Realtors
successfully raised almost $2,000 through monthly educational luncheons held at
SAR. One-hundred percent of the funds raised by the group were donated right
back to the community.
On Friday, Dec. 7, a 21.8 cubic foot side-by-side refrigerator with an indoor
water and ice dispenser was delivered to Agape amid much excitement. Then,
the young Realtors® handed out Christmas gift bags, including candy canes,
chocolates, holiday cakes, Santa hats and $20 gift cards for each child, ages 18
months to 16 years, to spend as they wish.
In addition, Pastor Marko, the director of Agape Corner, was given $250 to
spend on meats, cheese and other nutritious but perishable items typically not
found in the donation boxes they rely on from All Faiths Food Bank.
If you would like to make a donation, please visit AgapeCornerFlorida.
com. The next big wish for Agape Corner is a 10,000 square foot house,
large enough to care for 30 children. However, the organization is always in
need of day-to-day essentials. Please contact Christina Pitchford Perez at 350-4411
for a list of clothing and shoes sizes or more information. H
®
14
January 2008
Wednesday, Feb. 27
Evie’s
The social events are open to
everyone, of all ages. No registration
is required.
Siesta Key Oyster Bar (S.K.O.B.)
5238 Ocean Blvd., Siesta Key
For future Social Event locations or
for more information, please watch
for emails, check the website (www.
sarasotarealtors.com), or contact
Teri Hartley at the Association at
[email protected]
or
328-1155. H
Florida’s strong job
market expected to
accelerate this year
n
Editor’s Note: This is the second in a series of articles produced by the Florida Association of Realtors®,
focusing on the many long-term strengths of Florida’s residential real estate market as it moves through the
current cycle.
New job creation will accelerate in Florida in 2008, as the state’s
increasingly diverse economy continues to outperform the nation as a
whole in terms of labor outlook.
“Our projections indicate employment
growth will pick up in 2008 as we put
2007 behind,” said Sean Snaith, director,
Institute for Economic Competitiveness,
University of Central Florida, Orlando.
“While the U.S. economy slows, Florida
continues to grow. Some of the state’s
major metro areas, including Orlando,
Tampa Bay and Jacksonville, will be at
the top of the list in terms of employment
growth through 2010.”
The institute’s figures show Florida will
end this year with a 1.7 percent increase
in new jobs, slightly above the U.S.
average of 1.4 percent. In 2008, Florida
will see a distinct pickup in economic
activity with a 2.1 percent job increase –
nearly double the 1.2 percent projected
for the U.S.
For the 12-month period ending in July,
Florida’s economy added approximately
184,000 new jobs, with the strongest
growth occurring in the professional
and business services sector. State labor
statistics indicate Florida’s total nonagricultural employment rose to nearly
8.1 million in July 2007, compared with
7.8 million in July 2006.
Economist Hank Fishkind, president,
Fishkind and Associates in Orlando,
agrees that Florida’s job market is
fundamentally strong. “Outside of
the construction industry, Florida is
generating a significant number of new
jobs, particularly in leisure and hospitality,
healthcare, trade and education.”
With a growing consumer market,
an expanding talent pool, a supportive
government and a strong asset base,
Florida offers an attractive environment
for business growth. The state had 12
cities named to Economy.com’s Business
Vitality Index – more than double the
number of leading cities in any other
state.
In addition, Forbes magazine named
11 Florida metro areas “best places for
business and careers,” based on criteria
such as cost of doing business, job growth
and educational attainment.
For a third consecutive year, Florida
metropolitan areas dominated the Milken
Institute/Greenstreet Partners 2007 “Best
Performing Cities Index,” which looks at
five-year and one-year job growth, as well
as other factors.
Ranked first on the list was Ocala,
followed by Orlando-Kissimmee (#5),
Naples-Marco Island (#6), Cape CoralFort Myers (#13) and Sarasota-Bradenton
(#14). Ten other Florida cities ranked in
the top 55 of the 200 largest U.S. metro
areas surveyed.
In a separate survey, the Fort LauderdaleMiami-Miami Beach metro area ranked
No. 1 in the nation on the Kauffman
Index of Entrepreneurial Activity, an
annual study that measures business
startup activity across the United States.
The Florida Association of Realtors, the
voice for real estate in Florida, provides
programs, services, continuing education,
research and legislative representation to its
150,000 members in 67 boards/associations.
FAR’s Media Center Web site is available at
http://media.floridarealtors.org. H
ActiveKEY
Continued from page 9
button, then the flashlight button. The
flashlight will turn itself off after 30
seconds.
6. What does the light bulb button
do?
Press the on/off button, then the light
bulb button to light up the entire keypad
and display window. The backlight turns
off after 30 seconds.
7. Why does my ActiveKEY keeping
turning off?
Your ActiveKEY turns off after 30
seconds of inactivity to conserve the
battery.
8. How long do I have to get to
a keybox?
When you start to open a key
container or release a shackle, you still
have 5 minutes from the time you press
Enter to get to a keybox before the key
will shut itself off.
9. Can I leave my ActiveKEY
plugged in?
You cannot overcharge the battery in
your ActiveKEY, so leaving it connected
to its charger when not in use is a good
idea. You may want to get a car charger
so you can leave it in your car.
10. Can I use my cell phone charger
to charge my ActiveKEY instead of
having two car chargers?
Use only the GE car or wall charger
with your ActiveKEY to avoid potential
damage. Using an unapproved charger
may result in damage to your ActiveKEY
and will void the ActiveKEY warranty.
11. What is the USB cable for?
If your ActiveKEY is out of cell service
range for more than 24 hours you
can connect it to your computer with
the USB cable to manually activate
it. The ActiveKEY software needs to
be installed from KIMweb onto your
computer before you connect the key
and the computer must have an open
Internet connection to activate the key.
12. Why would I ever turn the
radio off?
When you press the on/off button on
the ActiveKEY to turn it off, the radio
Continued on page 19, See ActiveKey
January 2008
15
Commercial Investment Division
16
Commercial real estate fundamentals
are sound, but investment slowing
a
The fundamentals in commercial real estate remain healthy with only slight increases
in vacancy rates expected for the office and industrial sectors during 2008, although
credit restrictions have recently slowed overall investment activity, according to the latest
Commercial Real Estate Outlook of the National Association of Realtors®.
NAR Chief Economist Lawrence Yun said
commercial fundamentals are essentially sound.
“Although vacancy rates remain relatively low for
all sectors, they are expected to rise slightly in the
office and industrial markets during the coming
year because much of the space being absorbed is in
high-quality buildings or is built-to-suit,” he said.
“As a result, there is a fair amount of older space
on the market, particularly in the industrial sector
where obsolescence is a factor, although industrial
rents are showing healthy gains. Vacancy rates in
the retail and multifamily sectors are projected to
tighten in 2008 with rents rising in all sectors.”
Yun said the credit crunch has been impacting the
market over the last few months, but 2007 is already
a record for commercial real estate investment.
“Tighter credit conditions will limit individual
commercial real estate investment deals moving
forward,” he said. “Because capitalization rates are
already very low, it is likely that commercial property
prices will ease. The era of rapid commercial
property price increases has ended.”
A record $325.0 billion was invested in commercial
real estate in the first 10 months of 2007, up from
$306.8 billion for all of 2006; that total does not
include transactions valued at less than $5 million
or investments in the hospitality sector, based on
analysis of data from Real Capital Analytics.
Patricia Nooney of Saint Louis, chair of the
Realtors® Commercial Alliance, said commercial
real estate investment is expected to stay historically
strong. The NAR forecast in four major commercial
sectors analyzes quarterly data for various tracked
metro areas. The sectors are the office, industrial,
retail and multifamily markets. Historic metro data
were provided by Torto Wheaton Research and Real
Capital Analytics.
January 2008
Office Market
With jobs still being created, the demand for
office space remains positive and is helping to
absorb the more than 30 million square feet of new
space becoming available in the current quarter.
Investment grade office properties with solid income
streams will be the most in demand by institutional
investors, equity funds and foreign investors.
Since not all of the vacated space is being backfilled or leased, office vacancies are forecast to rise
to 13.2 percent by the fourth quarter of 2008 from
an estimated 12.9 percent in the current quarter; it
was 12.6 percent at the end of 2006. Annual rent
growth in the office sector should be 8.0 percent
this year and 2.0 percent in 2008, after rising 5.2
percent in 2006.
Industrial Market
The weaker dollar is fueling an increase in exports,
but leasing activity has declined in port distribution
hubs, and vacancy rates in those markets are edging
up; some users are building or renting in secondary
markets.
With abundant land and relatively low concerns
regarding site remediation, secondary and tertiary
markets are experiencing greater interest. So far this
year, almost 16 percent of industrial investment
has taken place outside of the 58 primary markets
tracked.
Vacancy rates in the industrial sector are projected
to average 9.4 percent in the fourth quarter and 9.5
percent by the end of 2008; vacancies averaged 9.4
percent in the fourth quarter of 2006. Annual rent
growth will more than double to 3.3 percent by the
end of 2007 and is seen at 1.3 percent a year from
now, compared with a 1.4 percent annual gain at
the end of 2006.
Retail Market
Even with a decline in consumer confidence, retail vacancy rates
remain fairly stable. Declining production of new space will help
improve fundamentals in this sector during 2008.
Vacancy rates in the retail sector will probably rise to 8.9 percent in
the current quarter from 8.0 percent at the end of last year, and then
ease to 8.6 percent by the fourth quarter of 2008. Average retail rent
should grow by 2.2 percent this year and 1.9 percent in 2008, after
rising 3.9 percent in 2006.
Multifamily Market
The apartment rental market – multifamily housing – is experiencing
increased demand from the slowdown in home sales. With a rising
population and a growing number of households, vacancies are
tightening and rents are rising.
Multifamily vacancy rates are projected to average 5.4 percent in the
current quarter, down from 5.9 percent in the fourth quarter of last
year, and then continue to decline to 5.1 percent by the end of 2008.
Average rent is likely to rise 3.1 percent for 2007 and 3.8 percent next
year, following a 4.1 percent increase in 2006.
Multifamily net absorption is expected to total 234,400 units in 59
tracked metro areas in 2007, below the 229,500 last year, but should
rise to 245,800 in 2008. H
The Commercial Investment Division wrapped up 2007 with their
annual Holiday Party on Dec. 4. From left, Steve Ross, Janet Robinson, Joe
Hembree, Dan McLeroy and Carl Wise join in the frivolity, which included
several gag awards. Ross, Robinson and Wise are leaving the CID board
after many years of individual volunteer service, while McLeroy will assume
the presidency this month – without the ponytail wig!
CID Plans programs
for 2008
Another successful year is coming to a
close for the Commercial Investment
Division of the Sarasota Association
of Realtors®. By the time this magazine
issue reaches your hands, the CID
will have held its final program for
2007 – the Holiday Breakfast at Lido
Beach Resort.
Jagbir Grewal was
named 2007 Commercial
Realtor® of the Year, and
Janet Robinson was
awarded the 2007 CID
Meritorious
Service
award at the event.
Jagbir Grewal The new
year will
have a new CID Board
of Directors (see related
article) leading the way,
and efforts are already
under way to increase
the number and scope of
CID programs in 2008. Janet Robinson
The CID is planning a Fishing Tournament
in February, with four to six boats
venturing into the Gulf for a half-day of
excitement and camaraderie.
The LeBarge “Spring Fling” is planned
for May, after a successful trip in 2007.
CID hopes to increase the level of
participation, so many more members
can enjoy the networking and social
opportunity.
In November 2008, another social
gathering is planned at the Speakeasy
on Siesta Key.
Of course, the annual charity golf outing
will be held in September, and is always
the highlight of the year.
Regular monthly meetings will
continue at the SAR Main Auditorium,
with a Continental Breakfast served.
The meetings are normally held on the
third Tuesday of the month and begin
at 8 a.m. with networking, followed
by the program at 8:30 a.m. Nonmembers will still be able to attend
up to three monthly meetings before
membership is required. H
January 2008
17
GREEN HOMES EXPO
F R I DAY , A P R I L 1 8 , 2 0 0 8
There’s Gold in Green
Green
Realtors®
Alliance of
Sarasota
Buyers and sellers are going “Green” – whether to retro-fit an existing home making it more environmentally friendly and energy
efficient for personal use, or to simply enhance its selling qualities.
Learning what you can do to ‘go green’ is the first step. Join your
fellow Realtors and the Sarasota community for a fun-filled event
that will introduce you to many products and services in the area
which you may not be aware of currently.
The event is free and open to all. Parking is available at the
church located just east of the SAR office on Bee Ridge Road, and
a shuttle will also be available.
For information on how you can exhibit your product or service, go
to www.sarasotarealtors.com. FREE to SAR members and the public.
Exhibitors will showcase the
following products and services:
G R E E N H O M E S E X PO
3590 S. Tuttle Avenue
Sarasota, FL 34239
Friday, April 18, 2008
Noon—5:00 p.m.
Phone: 941-923-2315
Fax: 941-923-0191
E-mail:
[email protected]
•
Florida-friendly Plants
•
Indoor Air Quality & Water Quality
•
Green Home Builders
•
Green Home Cleaning Services
•
Energy Efficiency Products
•
Solar Products
•
Water Conservation
•
Butterfly exhibition
MLXchange
Active Hot, Inactive) is now used to provide additional options
to the Client Gateway. In addition, automated tasks are
associated with client status types. Make sure all your clients
are assigned the appropriate status.
Mapping: One of the most impressive new features is
the next generation mapping and mapping tools. To ensure
your listings get the right exposure and can be found using a
Map Search, check your active listings to make sure they are
plotted correctly.
What’s New in MLXchange Version 4.0
(Highlights):
- Improved User Interface. The most common Action functions
are now graphical buttons for easy one click access.
- A sidebar that can be expanded or collapsed from any screen
to allow for quick access to MLS and personal resource links
and Hotsheets.
- Date Search Operators when searching for listings, including
Last 7 Days, Last 90 Days, 6 Months, etc. to save you time.
- Map Results directly from the Search Criteria page (up to 50
properties)
- Move Search Criteria up or down.
- Drag and Drop Search Results columns.
- Color Coded Statuses and List Price Increase/Decrease on
listing results grid.
- New Microsoft Virtual Earth Mapping including street,
aerial, and hybrid aerial with street overlay.
- Polygon Map Search that now just requires clicking on the
starting point to complete.
- Drag and Drop map navigation and the ability to locate
features, such as specific Address, ZIP, ML#, or Businesses.
- Driving Directions that can be e-mailed and the ability to add
My Office as a starting location.
- New Image Viewer that shows all available media, including
virtual tours, automated slide show, and attachments.
- CMA Enhancements, Map Views for Comparables, and the
ability to print a single page of a CMA.
- Save Search options condensed into one page instead of the
current two General and Notifications pages.
- Report Editor Enhancements including Undo/Redo and Field
Property Editor.
- Rich Text Editor added to E-mail Editor.
- Improvements to Property List for managing Favorites,
Possibilities, and Rejects (MLX Professional).
- Enhancements to Client Manager and Agent Website for
managing Prospects (MLX Professional). H
ActiveKEY
stays on to stay in touch with the cellular network. You can
turn the radio off completely by pressing and holding the on/
off button when the key is on. You may want turn the radio
off completely if you happen to take your ActiveKEY on an
airplane. You could also turn if off to conserve the battery or
to prevent receiving notifications of showings.
13. Why does my key say “RADIO IS OFF, 1 – TURN
ON RADIO” when I turn it on?
If you turned the radio off, the next time you turn on your
key you will see “RADIO IS OFF, 1 – TURN ON RADIO”
in the window. Press 1 to turn the radio back on.
14. With my DisplayKEY when someone opened a
keybox, I got an alert on my key the next morning. Does
the ActiveKEY work the same way?
You can set your ActiveKEY to notify you instantly when
another ActiveKEY opens one of your keyboxes, or you
can choose to be notified overnight. Showing activity from
DisplayKEY and eKEY users is delivered to your ActiveKEY
the next morning regardless of your ActiveKEY preference
setting.
15. When I see the message on my ActiveKEY that I’ve
had a showing, how do I find out who was in my listing?
To find out who showed your listing, log on to KIMweb
and click the View button after Showing Activity on your
Dashboard. You could also visit the keybox to read it with
your ActiveKEY. An iBox stores the last 100 showings.
16. My ActiveKEY says “Assign KeyBox” after I put in
a shackle code. What does that mean?
After you enter a shackle code and press Enter, your
ActiveKEY gives a YES/NO choice for “Assign KeyBox.” If
you select yes, the system will send you an email reminding
you to assign the keybox to a listing on KIMweb. The email
contains a link taking you directly to KIMweb.
17. If my ActiveKEY is lost or stolen, anyone finding it
would still need to know my PIN code to use it, right?
Right. If your ActiveKEY is stolen, the key will remain
active as long as it’s been in cell service range for the past 24
hours. As soon as you report it missing, it will be deactivated.
In the meantime, anyone finding it would need to know the
PIN code to open keyboxes. Never write your PIN code on
your ActiveKEY or store it in your ActiveKEY pouch.
18. What do I do when I lose my ActiveKEY?
If you lose your ActiveKEY, call Supra Support as soon as
possible so we can turn it off.
19. Does the ActiveKEY have GPS so you can track
where we are?
The ActiveKEY does not have GPS and we are not able to
track where you or your key are. H
January 2008
19
Sales and Listings for November 2007
Residential Sales Summary
Nov. 1 to Nov. 30, 2007
SALES
2 –
3
BDRMS BDRMS
PRICE
4+
CONDO
BDRMS CO-OP
Sales Data
SALES as of
Nov. 30 2007
TOTAL
UNITS
November 2007
Class
Sales
10
1
0
8
19
$100,000-199,999
15
33
1
24
73
$200,000-299,999
12
31
7
25
75
Class
$300,000-399,999
7
29
8
6
50
$400,000-499,999
4
13
10
14
41
Residential 313
Condo
144
$500,000-749,999
1
16
15
13
45
$750,000-999,999
0
5
5
7
17
$1,000,000-1,499,999
0
3
4
8
15
$1,500,000-1,999,999
0
0
2
1
3
$2,000,000-2,499,999
0
0
1
0
1
$2,500,000-2,999,999
0
0
1
1
2
$3,000,000-3,999,999
0
1
2
1
4
$4,000,000-4,999,999
0
0
1
0
1
$5,000,000-9,999,999
0
0
1
0
1
$10,000,000 & Up
0
0
0
0
0
132
58
108
49
TOTAL DOLLAR VOLUME
SINGLE FAMILY
$105,227,681
TOTAL DOLLAR VOLUME
CONDOMINIUM
$45,288,050
Median Sale Price
Sold Volume
$440,283
$419,334
$295,000
$259,950
$105,227,681
$45,288,050
Residential 239
Condo
108
$99,999 & UNDER
**TOTALS
Average Sale Price
November 2006
Sales
Average Sale Price
Median Sale Price
Sold Volume
$443,573
$494,283
$315,000
$391,250
$135,708,466
$71,176,739
Listings Data
November 2007
Class
New
Average List Price
Median List Price
$555,188
$474,185
$329,000
$269,900
Residential 1329
Condo
613
Volume Listed
$737,845,433
$290,675,380
November 2006
Class
New
Average List Price
Median List Price
$588,837
$461,509
$375,000
$299,900
Residential 1504
Condo
765
347
Volume Listed
$885,610,114
$353,054,703
TOTAL HOME SALES
DOLLAR VALUE
$150,515,731
November 2007
Residential Sales Summary
850-
Jan. 1 to Nov. 30, 2007
750-
800-
Year to Date
SALES
2 –
3
BDRMS BDRMS
PRICE
$99,999 & UNDER
72
8
$100,000-199,999
253
$200,000-299,999
228
$300,000-399,999
4+
CONDO
BDRMS CO-OP
SALES as of
Nov. 30 2007
TOTAL
UNITS
128
700650-
0
48
286
21
423
983
650
103
373
1354
136
411
153
227
927
$400,000-499,999
71
208
132
236
647
500-
$500,000-749,999
44
203
170
290
707
$750,000-999,999
450-
600550-
11
106
81
146
344
$1,000,000-1,499,999
2
61
61
109
233
400-
$1,500,000-1,999,999
3
19
30
47
99
350-
$2,000,000-2,499,999
0
11
22
19
52
$2,500,000-2,999,999
1
10
17
19
47
$3,000,000-3,999,999
1
2
17
30
50
$4,000,000-4,999,999
1
2
6
6
15
$5,000,000-9,999,999
0
1
20
0
21
**TOTALS
$433,573
$440,283
$419,334
378
313
0
0
0
823
1978
833
1973
5607
100-
TOTAL HOME SALES
DOLLAR VALUE
$2,711,016,959
500-
259
239
200-
0
TOTAL DOLLAR VOLUME
CONDOMINIUM
$1,025,414,624
$494,283
$461,316
250-
0
TOTAL DOLLAR VOLUME
SINGLE FAMILY
$1,685,602,335
$508,579
300-
150-
$10,000,000 & Up
Average Sale Price/Units Sold / Days On Market
208
140
156
194
144
126
108
93
Nov. ‘05
Nov. ‘06
Nov. ‘07
Nov. ‘05
Residential
Ave. Sale Price
Nov. ‘06
Nov. ‘07
CondoMINIUM
Days On Market
UNITS SOLD
These statistics were gathered from Sarasota Association of Realtors MLS on December 10, 2007.
Note: Statistics are for the entire SAR MLS system. Figures include some listings in Manatee, Englewood, Venice and other areas.
20
January 2008
Sale Price
vs.
List Price Rates
Percentage of list price units sold for…
Single Family
2006
2007
January
95.90%
90.96%
February
95.65%
89.90%
March
94.22%
93.10%
April
95.01%
93.20%
May
94.21%
92.30%
June
94.72%
92.20%
July
93.62%
93.30%
August
93.33%
93.40%
September
93.45%
92.40%
October
92.79%
93.20%
November
92.06%
90.70%
December
89.73%
Condominium
2006
2007
January
96.02%
92.51%
February
96.54%
93.84%
March
95.94%
94.20%
April
94.66%
97.10%
May
94.82%
92.20%
June
93.40%
94.40%
July
93.29%
93.10%
August
93.11%
91.50%
September
92.53%
91.30%
October
89.79%
92.40%
November
95.09%
89.54%
December
91.08%
p
November numbers continue
to show 2007 mirrors 2006
Property sales in the Sarasota
market are off by only 7.2 percent
for the first 11 months of 2007,
compared to the same period
in 2006. The total sales dollar
volume is also close to the 2006
figure, bolstered by stronger
condominium sales and sale prices
during 2007.
More condominiums sold over
the first 11 months of 2007 than
in 2006, 1,973 to 1,924, for an
increase of almost 3 percent. The
median sale price for condos also
increased, from $315,000 in the
first 11 months of in 2006, to
$335,000 for the first 11 months
of in 2007 – a 6.3 percent increase.
The figures are in stark contrast
to the overall state of Florida, in
which condominium sales and
prices have dropped significantly
in 2007.
During the same time period,
local prices dropped for single
family homes, from $345,000 to
$306,500 (11 percent), and sales
fell from 4,127 in 2006 to 3,640
in 2007 (11.8 percent). While
these numbers tended to pull
down the overall local market, the
drop has not been nearly as much
as the drop seen statewide during
2007, when sales have dropped by
more than 20 percent for several
months in succession.
Pending local sales, a strong
indicator for future market
activity, have been heading up for
two successive months, following
a lull in September. Pendings
reached 489 in November for
combined condos and single
family homes. They were only at
446 in October, and only 397 in
September. Normally, sales begin
to pick up as seasonal residents
and tourists begin to arrive in the
winter months.
Word on the street indicates
activity has already been on the
increase at open houses, and real
estate agents are beginning to get
busier as the season starts to heat
up, both good signs from a market
undergoing a positive transition.
In total, 5,613 closings were
reported through the end of
November 2007, compared to
6,051 closings through the end
of November 2006. The total
volume of sales for the first 11
months of 2007 was $2.7 billion,
compared to $2.98 billion in
2006. If the trend continues
through the end of December,
2007 will rank as one of the five
top years in the history of SAR for
volume of sales, despite the gloom
and doom of media reports.
“The buyer’s market that was
predicted for 2007 has definitely
come true, and the message we
have stressed that now is the time
to buy is proving out,” said Joe
Hembree, 2007 SAR President.
“It’s really difficult to time a market’s
bottom, but 2007 numbers have
consistently indicated that the
Sarasota market is fast reaching
normalcy. With the Fed continuing
to ease interest rates, this remains
an incredible time to get into a
local home.”
There are many other factors
that continue to make Sarasota a
great choice for potential home
buyers, including the affordable
cost of living, tremendous natural
beauty, great education system,
fabulous restaurants, recreational
and cultural opportunities, safe
and clean environment, and worldclass health care. H
January 2008
21
Education Programs
JANUARY 2008
EDUCATION CALENDAR
Sun
Mon
Tue
Wed
Thu
Fri
Sat
1
2
3
4
5
6
7
8 e-Pro
9 MLS Basic
10 MLS
Advanced
11
12
13
14
Orientation
& Code
of Ethics
15
16 Medicaid
& RE;
Reverse
Purchases
17
18
International
Tax Update
19
20
21 iMapp
22
23 MLS Basic
Contract
Niche
Marketing
24 MLS
Advanced
25
26
27
28 GRI 1
29 GRI 1
30 GRI 1
31
•
•
•
•
•
•
•
•
•
E-PRO—Jan. 8, 1-2:30; free to members
MLXChange Training (Hands-On with Keith Thatcher):
• Basic—Jan. 9 & 23; free to members
• Advanced—Jan. 10 & 24; free to members
iMapp: Jan. 21, 9:30-11; free to members
Orientation & Code of Ethics, Jan. 14, 9-4; free to members
Medicaid & RE/Purchases with Reverses, Jan. 16, 9-12, $10
International RE Tax Update, Jan. 18, 9-12, $10
FAR-9 Contract & Addendum, Jan. 23, 9-12, $10
Niche Marketing, Jan. 23, 1-4, $30
GRI Course 1, Jan. 28-30 & Feb. 4-6, $325
Reminder: All Realtors (members of the National Association of Realtors) will have to show proof of
completion of the Code of Ethics during the time period Jan. 1, 2005 to Dec. 31, 2008. In
other words, 2008 is the renewal year. SAR members can register for the Code of Ethics held each
month in conjunction with the new member orientation for no charge. An online course is also available free of charge at www.realtor.org. You will need your NRDS number to register for the
course.
To register: go to www.sarasotarealtors.com, click on “Education” tab
22
January 2008
Niche Marketing highlights January course offerings
Niche Marketing
• Wednesday, Jan. 23
• 1 to 4 p.m.
• Instructor: Mark Nash
• Cost: $30 (SAR members);
$50 (non-members)
Mark Nash, a real estate author,
broker and columnist will be at the
Sarasota Association of Realtors®
on Wednesday, Jan. 23 from 1 to 4 pm to provide members
with an informative presentation on Niche Marketing.
Niche Marketing is an often over-looked but highly
productive marketing tool for Realtors®. The only limit
to the niches a salesperson or broker can explore is the
time they are willing to spend developing that niche. A
sense of power is achieved once you feel that you have
more control over your own financial destiny. Having
a large client base that is loyal to you and respects your
abilities will assure you of continuing referrals. This
constant source of new business will provide you with the
financial power of niche marketing.
Mark’s presentation covers the advantages, history, and
business plan for agents to incorporate Niche Marketing
into their real estate practice.
Mark Nash is a Chicago based residential real estate
author, broker and columnist. His advice, analysis and
tips have been featured on: AOL Real Estate, Bloomberg
TV, CBS News, CNN, Fox News Channel, NBC News,
Universal Press Syndicate, The Washington Post, Business
Week, and Smart Money Magazines, The Library of
Congress, Washington, D. C., HGTV.com, and
RealtyTimes.com. Nash’s annual survey “What’s In, What’s
Out with Homebuyers” is utilized by more than 500 news
organizations in the U.S. and Canada.
Free Technology Training
The following courses will teach you how to use
and benefit from technology programs you already have
available to you through your Realtor® membership.
Work smarter in 2008 with these powerful and improved
technology tools.
ePRO
• Jan. 8, 2008
• 1 to 2:30 p.m.
• Mike Barnett, Instructor
• MLS Member benefit—no extra charge
• Registration requested
• www.sarasotarealtors.com
Basic MLXchange - Wednesdays
(Hands-On)
• Jan. 9 & Jan. 23
• 9 to 11:30 a.m.
• Keith Thatcher, Instructor
• Registration required via “Education Registration”
Advanced MLXchange - Thursdays
(Hands-On)
• Jan. 10 & Jan. 24
• 9 to 11:30 a.m.
• Keith Thatcher, Instructor
• Registration required via “Education Registration”
iMapp
• Jan. 21, 2008
• 9:30 to 11 a.m.
• Frank Coffey, Instructor
• Registration requested
How New Medicaid Rules Favor
Realty Investments & Purchases
with Reverses
• Jan. 16, 2008
• 9 to 11 a.m.
• $10 (SAR members) $20 (Non-members)
(both seminars included in single fee)
1) New Medicaid Rules
• Instructor: Babette Bach, Esq., C.E.L.A
• 9 to 11 a.m.
New rules impacting preserving assets using real estate
went into effect on November 1, 2007. These changes
will affect the current crop of retirees and baby boomers.
Other issues relating to real estate and seniors will also be
discussed.
2) Purchases with Reverses
• Instructor: “Mortgage Mike” Koebel, CNL Bank
• 11 a.m. to Noon
January 2008
23
Education Programs
Reverse Mortgages are rapidly becoming the most
attractive and beneficial mortgage for senior citizens.
BUT – did you know a Reverse Mortgage can be used
to purchase real estate?! AND – did you know a Reverse
Mortgage can be used to purchase 2nd/vacation/future
retirement homes, and even investment properties?
You won’t want to miss this seminar, as it presents not
only how a Reverse Mortgage works to benefit seniors,
but also how you can use it to increase your production –
and your income!
International Tax Update
• Friday, Jan. 18, 2007
• Speakers: Thomas C. Roberge, CPA &
Renea Glendinning, CPA
• 9 a.m. to Noon
• SAR Members: $10
• Non-members: $20
Join CPAs Tom Roberge and Renea Glendinning for
the annual update on the latest changes in IRS rules and
practices affecting international buyers and sellers.
2007 marked dramatic changes to the IRS procedures
applying to foreign investors with U.S. real estate investments.
Whether handling the purchase of an investment property
or for use as a vacation property, Realtors need to know
how to properly deal with foreign buyers of U.S. real estate,
and to avoid personal liabilities for income and inheritance
tax issues you will have to deal with.
Changing rules and practices for sales of U.S. real
estate by foreign investors could impact your ability to
close a sale on time. Don’t get caught in these unknown
traps at the last minute!
GRI Course 1—LAST CALL!
• Jan. 28-30 and Feb. 4-6, 2008
• 45 hours salesmen’s post-license credit
• 14 hours continuing education credit
• NAR Code of Ethics Requirement for 2008
If you wait too long to sign up for GRI Course 1, you
might be out of luck as SAR is the only Realtor Association
in the vicinity that’s offering all the courses this year. If you
are a new salesperson, the GRI Course 1 will offer the 45
hours of Post-License education you need during the first
salesperson license renewal cycle. By taking this course, you
can get a leg up on earning your GRI designation while
taking care of your 45-hour state licensure requirement.
For brokers and salespeople not in their first renewal
cycle, the course offers 14 hours of continuing education
(includes Core Law).
24
January 2008
Another bonus: Counts towards the Code of Ethics
training required of all Realtor members by NAR by
December 31, 2008.
This GRI series is offered by FAR through its Florida
Realtor Institute. All the instructors have been carefully
screened for their knowledge of the subjects as well as
for their teaching techniques—they’re the best real estate
instructors in the country.
In a hurry? Don’t wait in line, go online! GRI Course I is
now available online through a special Florida Association
of Realtors website: www.fargri.com. Online convenience
places the course at your fingertips, whenever you want it,
and offers the same license renewal menu of credits that the
live version does.
Myths and Truths about Indoor Air
and Water Quality
• Feb. 1, 2008
• 9 to 11 a.m.
• Instructors: John Cozy, C.I.E.C., & Al Jung, Managing
Partners The Air & Water Center
• SAR Members: $10
• Non-members: $20
The desire to enjoy a high quality of life brings
discriminating buyers to Sarasota. The Green Realtors
Alliance of Sarasota (GRAS) is the sponsor of this seminar
which will help educate Realtors about indoor environments
and water quality so they in turn can serve their customers
better—especially health-conscious ones.
The Air & Water Center focuses primarily on raising
indoor environmental awareness, consumer education
and distribution of products and services that create
healthier, safer, more sustainable indoor environments.
They provide indoor environmental awareness workshops
and educational resources in hopes of increasing awareness
of what they believe are two of most important issues of our
times - indoor air and water pollution.
The seminar will cover these two main areas:
Indoor Air Quality
• 3 categories of indoor air- Particulate, Microbial,
Gas or Odor (VOC’s volatile organic compounds)
• Resolving indoor air quality issues – Filtration,
Dilution & Source removal
• Green building practices
• Potential problems associated with tightly
sealed homes
• Cleaning chemicals and pesticides in your home
• Viability and expense of air testing & our philosophy
on approaching indoor air quality issues
Water Quality
• Hydrological cycle
• How municipally supplied water is treated
• What is in city water?
• What is in well water?
• Hard water effects on energy consumption, life cycle of
appliances, textiles and cleaning products efficiency
• Hard water, chlorine and chloramines effects on
your health
• Two ways to purify or condition the water in your
home, mechanically or chemically (surfactants)
• Differences in types of water conditioning equipment
• Efficiencies, price- quality- value and warranties
• Bottled Water
• Questions and answers
FAR-9 Contract & Addendum
• January 23, 2008
• 9 a.m. to Noon
The SAR Contract will be discontinued by the end
of the year. Reduce the risk of making a mistake with
an unfamiliar contract and learn how to use the FAR-9
contract with confidence. This is an important seminar for
all brokers, office managers and salespeople to attend.
Residential Sale & Purchase Contract (FAR-9)
Comprehensive Addendum to Sale & Purchase Contract
(FARA-9)
Sheryl Edwards, Esq. is a board certified real estate
attorney in Sarasota and heads her own law firm, The
Edwards Law Firm, PL. Seminar fee will cover the extensive
printing costs.
14-Hours Continuing Education for
License Renewal
• Feb. 12 & 13, 2008
• Instructor: Valleri J. Crabtree
• Cost: SAR Members $79; Non-members, $99
The Institute of Florida Real Estate Careers, headquartered
in Orlando, Florida, will be the provider once again of the
14-hour license renewal course for SAR. Founded in 1983,
the Institute of Florida Real Estate Careers, Inc. (IFREC) is
recognized as the leader in Florida real estate education.
The instructor, Valleri J. Crabtree, coordinates the course
development for IFREC’s real estate sales and broker,
appraisal, home inspection, mortgage broker and real
estate specialty courses. Valleri holds a Florida real estate
instructor permit, is a licensed real estate broker in both
Florida and Ohio, and is a licensed Ohio attorney.
SAR members, please go to www.sarasotarealtors.com
to register for the live course. Non-members, go to
the education tab at the top of the home page (www.
sarasotarealtors.com) to download a registration form that
can be completed and faxed to SAR.
Congratulations!
CONGRATULATIONS!
Dedication and hard work pay off!! We congratulate our members
who recently completed the requirements for the National Association of
Realtors® designation and certificate programs:
Graduate Realtor Institute (GRI)
Jeff Buck, Century 21 Advantage
Donald M. Kuyper, Century 21 Advantage
January 2008
25
Seven surprising reasons
to volunteer in 2008
t
There are lots of things we want to do and should do, yet never seem to find the time to actually do.
Volunteering shouldn’t be one of those things. Why? Besides providing much-needed help to people or
organizations that need it most, volunteering can open the door to new business opportunities, friends,
skills, and appreciation for the everyday things you take for granted. Most of all, it can make you happy.
“There’s no better feeling than knowing you had a hand in
improving someone’s life,” says Brae Hanson, managing broker
of Starck, Realtors®, in Barrington, Ill., and an avid volunteer.
So before you say you don’t have the time or energy to take
on a volunteering task, consider these seven reasons why you
should start giving back now.
Reason #1: It Will Boost Your Visibility
(for Free)
Volunteer to benefit your business? That doesn’t sound very
altruistic. And while that probably shouldn’t be the primary
reason to volunteer, it’s certainly a nice perk.
“Real estate professionals always want to be doing more
selling and prospecting, but many don’t realize they can do
both of those things while giving back to the community,”
says Robert Rosenthal, a spokesperson for VolunteerMatch,
a San Francisco nonprofit that matches volunteers with
charitable groups.
Cappy MacPherson, a salesperson with Watson Realty Corp,
Hidden Hills, Jacksonville, Fla., says volunteering is one of
her best — and lowest cost — marketing tools. Instead of
spending money to get her name out in the community, she
gains exposure by volunteering with local charities, including
HabiJax, the Jacksonville Habitat for Humanity branch.
At ever volunteer job, she wears T-shirts promoting previous
volunteer events, along with a name tag that identifies her
real estate business.
The strategy acts as a conversation starter and gets her
name circulating in the community. Since 2006 it’s landed
her four buyers and generated leads for two potential listings.
“These are six prospects I would never have had,” she says.
“It’s a wonderful way to market without breaking the bank.”
Reason #2: You’ll Sharpen Your
Business Skills
With so many volunteer opportunities out there, you
can select the ones that will help you improve certain
business skills.
For example, Hanson, of Barrington, Ill., has perfected
her marketing skills through 20-plus years of fundraising
and promoting charities. Volunteering also has forced her to
refine her time-management skills and has given her more
financial know-how.
“I’ve never been fond of reading financial statements,
but I’ve gotten better at budgeting and understanding profit
and loss statements just from reviewing them for charities,”
she says.
MacPherson, meanwhile, has improved her knowledge of
home-improvement tasks — knowledge that comes in very
handy when working with buyers and sellers. Through her
Habitat for Humanity work, she’s learned the finer points of
painting, roofing, and caulking, as well as an understanding
of how buildings come together properly.
“I’m now able to see subtle problems in houses and know
when to suggest further inspections,” she says.
Reason #3: It Doesn’t Require a Huge
Time Commitment
If you read the stories of this year’s five Good Neighbor
Award winners, you’ll be taken aback by how much time
they devote to their causes. For a rookie volunteer, it can be
downright intimidating. But such a large time commitment
isn’t necessary.
Start small by volunteering for a one-time event or
scheduling just a couple hours per week. Check out volunteer
opportunities in your ZIP code by searching on Web sites
such as VolunteerMatch. Each listing includes the estimated
time contribution required, so you can be choosey about
which jobs you take on.
Another option: Take a volunteer “vacation” to a developing
nation or to a city in the United States to build a new school,
restore the environment, or help on a medical mission. You
can learn more about volunteer vacations at Web sites such as
GlobeAware or CharityGuide.org.
Or, volunteer from the comfort of your own home. Instead
of watching an hour of TV at night, log in an hour of virtual
help to an organization of your choice. Learn about virtual
volunteer opportunities at ServiceLeader.org.
Once you find a volunteer job that you really enjoy, making
time for it will come naturally, Hanson says. “When something
is important to you, you find the drive to get it done.”
Reason #4: Make Meaningful
Community Connections
Weekly Rotary Club meetings put Lisa L. Bass, president
and broker of California Commercial Corp. in Brentwood,
Continued on page 35, See Volunterr
26
January 2008
NAR takes actions to benefit
membership at annual meeting
t
The Board of Directors of the National Association of Realtors® at its meeting Nov. 16 in Las Vegas,
took actions to keep its members positioned for success into the future.
Practice to ensure that Realtors® present a true picture in
Realtors® Federal Credit Union
their URLs and domain names. The Code of Ethics changes
Recognizing the disadvantages that real estate professionals
required passage by the Delegate Body, which approved the
face in credit markets because of their irregular, commissionmeasure at its meeting following the Board of Directors.
based income, the board gave NAR the go-ahead to launch a
Related changes to model MLS rules were also adopted.
Realtor®-friendly credit union. The credit union, which will
at upping enforcement,
be Internet-based with U.S. call center operations, will use * In MLS policy changes aimed
®
the
board
authorized
Realtor
MLSs
to impose financial
underwriting standards that recognize the irregular cash flow
penalties
of
up
to
$15,000—an
increase
from $5,000—for
of real estate professionals and will handle loan applications
®
violations
of
MLS
rules;
authorized
Realtor
MLSs to
and account transactions on a 24/7 basis. All earnings will
remove
any
or
all
of
a
participant’s
listings
in
cases
where
flow back to credit union members in the form of beneficial
the
participant
fails
to
report
status
changes
on
a
timely
interest rates and dividends.
basis; and adopted measures on the procedures for imposing
To get the process started, the board directed NAR staff to
discipline.
file a credit union charter application with the National Credit
* Renamed the “Standards of Conduct for Realtor ®
Union Administration and provided $10 million in start-up
Associations” the “Professional Practices for Realtor®
capital. It also authorized $5 million to be available on an
Association Leadership” and directed NAR to increase
as-needed basis to meet regulatory capital contingencies.
awareness of the practices, which cover ethics and business
practices among volunteers and staff leaders.
Other Board Actions
* Renamed the “NRDS Criteria for Points of Entry
On the legislative front, the board positioned NAR on a
Minimum Standards” the “NRDS Standards and Policies,”
number of issues coming to the fore in Washington:
and set rules regarding contact information to be included
1) Declared support for a national affordable housing trust
in core NRDS fields. The board also set rules for who can
fund that doesn’t take away from other federal, state, and
input new and additional member data into the data, and
local housing programs or negatively impact real estate
gave state and local NRDS staff four years to bring their
prices, transaction fees, or loan costs;
databases into compliance with the national database.
2) Supported FHA risk-based pricing with the caveat that the
new flexibility not leave traditional FHA borrowers at a Additional board steps
disadvantage for financing
* Approved $475,617 for five legal cases involving
questionable infrastructure improvements required of
3) Opposed changes to like-kind exchange tax rules that would
subdivision developers, an ongoing Internet mapping
make certain types of property ineligible (swapping improved
patent infringement case, the validity of a listing agreement
real estate with unimproved agricultural real estate)
with an incomplete property legal description, an ongoing
4) Opposed tax rule changes that would convert the carried
challenge against a municipality’s real estate transaction
interest in a real estate partnership of the general partner
ordinances, and the legality of excluding exclusive agency
from a capital gains rate to an ordinary income rate
listings in MLS feeds to broker and other listing Web sites.
5) Supported voluntary (rather than mandatory) “visibility”
The board referred back to the Nominating Committee
requirements. Visibility refers to making homes accessible for further consideration a proposed package of changes to
to visitors with mobility impairments
the procedures for electing national officers. The proposed
6) Supported adding wind damage to coverage under the changes are expected to be considered for a vote at the Board
National Flood Insurance Program, among other land use of Directors meeting at the 2008 NAR Midyear Legislative
policy changes.
Meetings in Washington.
Code of Ethics, Other Rule Changes
Reports
* Amended the NAR Code of Ethics to ensure the “true picture”
test in Article 12 applies to electronic communications
such as e-mail and text messages, and added a Standard of
2008 President Richard F. “Dick” Gaylord highlighted the
need to reach out to younger practitioners in the industry
and showcased NAR’s efforts to recognize younger members
Continued on page 29, See NAR
January 2008
27
Rookie Corner
28
How new agents can get more listings
with little experience
a
By Brian Hilliard
As a new agent coming into the field, you usually face an uphill battle when it comes to getting
a listing. You’ve got lots of competition who’s been doing this much longer than you have, and
it’s usually pretty difficult to get someone to trust you with the sale of their home.
The only problem is that puts you in a chicken
or the egg scenario, since you can’t get more
listings until you have the experience, but how
can you get more experience if you don’t have
the listings?
So what can a New Agent do to get listings
despite a lack of experience? I’m glad you asked.
Right off the bat, you’ll need to throw out
some outdated thinking.
Instead of equating “new agent” with “lack of
knowledge,” change it around a bit and think
of “new agent” as meaning an “inexperienced
Realtor.” In other words, as a New Agent you
have a pretty good idea as to what to do to sell
a home (sign the paperwork, create a marketing
plan, hold Open Houses) but you just haven’t
done it all yourself.
Notice the difference. You have the knowledge
of what to do, but just lack the experience of
having done it before.
Here’s the thing: Most people aren’t worried
about your experience as much as they are
your knowledge and how it translates to their
specific situation.
Don’t believe me? Think back to when you
got your first job coming out of school. You
didn’t have any full time work experience,
yet someone, somewhere hired you anyway.
Why? Because you had the knowledge (through
your education) on what it took to get the job
done -- even though you hadn’t personally done
it before.
The same thing is true in real estate.
Most prospects don’t care what you did to
move someone else’s listing, unless you can
January 2008
translate that knowledge into selling their home.
Which by the same logic, means even if you don’t
have experience in selling a home, as long as you
can develop a strategy that shows the seller how
you will be able to do just that, the “experience”
won’t matter.
So now instead of focusing on the past (all the
experience you don’t have with previous clients),
let’s instead look at the future, and all the things
you will do when selling a prospect’s home.
Not sure what those are just yet? (After all you
are new.) Just email [email protected]
with the subject “New Agent Wants Listings”
and I’ll send out a quick checklist of focus areas
to help increase your knowledge level and get
that listing.
Here’s the thing. As a New Agent, you’ve got
a few strikes against you. Lack of experience,
spending a bunch of upfront money, and heated
competition, just to name a few. But unless
you’re walking around with a nametag saying,
Jane Smith -- New Real Estate Agent, none of
your listing prospects will know you’re new to
the business.
Which means if you come across as the
knowledgeable, organized agent who’s got a dropdead marketing plan for selling that prospect’s
home, they won’t even think to ask the “So how
long have you been doing this” type question.
It just won’t come up.
But don’t take my word for it. Give it a try and
see if you don’t start getting more listings from
every prospect you meet. H
NAR
through the Young Professionals Network, a newly formed
organization that grew out of Realtor® Magazine’s annual “30
under 30” feature.
The board heard an upbeat report on the financial health of
the association, which has now reached 1.4 million members
and has $300 million in total assets, $247 million in total
equity, and $218 million in its investment portfolio. The
association’s only debt, of $25.5 million, is for its Washington,
D.C., building. That debt is being paid down quickly, said
NAR Treasurer Bruce Wolf.
With 2008 national elections nearing, The Realtors® Political
Action Committee is well positioned with more than $7.2
million in contributions for 2007. The total includes $6.7
million from states—109 percent of the fair share goal—as
well as $282,000 from the 160 members of the President’s
Circle; $26,000 from NAR’s affiliated societies, institutes,
and councils; and $20,000 from NAR staff, said RPAC
Fundraising Chair Marbury Little.
Errol Samuelson, president of Realtor.com, reported to the
board on innovations to the Realtor®-owned site, which today
hosts an average of 4.3 million listings a day and sees monthly
traffic of about 5 million to 6 million consumers. The site
boasts a new interface for the popular Apple iPhone digital
device and has rolled out an enhanced Find a Neighborhood
search feature that enables consumers to search by the kind
of neighborhood they’re looking for, such as “family friendly”
or “hip and cool.” The search results provide detailed
information through maps, photos, and narrative descriptions
posted by residents.
Awards
The board recognized the 2007 Distinguished Service Award
winners, Henry Ray, CRB, CRS®, GRI, of Birmingham, Ala.,
and George Peek, GRI, of Reno, Nev., and the William R.
Magel Award for outstanding Realtor® association executive,
Benny McMahan, GRI, of the Texas Association of Realtors®.
The 2007 Terry McDermott Community Leadership Award
went to Carol Shapiro, Eastern Middlesex (Mass.) Association
of Realtors®.
Delegate Body Actions
In addition to approving the change to Article 12 of the
Code of Ethics, the NAR Delegate Body on Friday approved
the following amendments to the NAR Constitution:
- Increase size of the Executive Committee to allow for two
representatives from the Real Estate Services Advisory Board.
- Make the Member Mobilization chair a member of the NAR
board of directors.
- Make the vice chair of the Finance Committee’s
Subcommittee on Reserves Investment a member of the
Finance Committee. H
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Sarasota Women’s Council of Realtors®
enjoyed a fabulous 2007
By Michelle Crabtree, 2007 WCR President
Editor’s Note: In 1957, a small group of Sarasota women, led by such visionary leaders as Norma Martin and Doris Edwards, started the local chapter of the
Women’s Council of Realtors®, a group still going strong today. In their 50th anniversary year, we congratulate the group for a tremendous.
• Our chapter, founded in 1957 has celebrated our
50th year!
• We are now officially incorporated.
• The website has been updated and is now controlled
by our membership.
• The Program meeting arranged an incredible set of
valuable programs.
• We have allocated tables at our Program Meetings for
Realtors to display property flyers.
• Chapter members attended all WCR Conferences and
returned with information to share.
• Our Chapter was the recipient of the National
Chapter Excellence Award Gold Level.
• Florida was recognized at the State Mega-Chapter of
the Year state chapter.
• We had the “Greatest Fashion Show on Earth”- an
incredible successful event!
• We donated funds to Habitat for Humanity.
• We continued our annual contribution to RPAC.
• Three of our Chapter members were State
Awards Winners!
• We had great member mixers.
• We produced a beautiful membership roster.
• Members volunteered in community activities.
• We honored our Past Presidents at a joint meeting
with the Manatee Chapter.
• We had a fantastic District Forum.
• Our District Vice-President became a State Governor.
• We have Chapter members chairing State Committees.
• We produced new “bling” WCR shirts.
• We had 50 new members join our Chapter.
• Florida became the largest WCR State Chapter.
• We started two new fundraisers: McCurdy’s Comedy
night and a Desert Auction.
• We built strong relationships.
• We started a scrap book.
• We received lot of media coverage.
• We have a WCR display at the Sarasota Board of
Realtors office.
30
January 2008
The WCR/Realtors National Conference & Expo
was held Nov. 11-15 in Las Vegas. We were proud
to support the installation of Ann DeFries from our
own state of Florida as the 2008 National President.
National Elections were held and the following are the
2008 National Officers: President-Elect-Becky Hill from
Houston, TX; Recording Secretary-Deborah Gilmore
from Marietta, GA and Financial Secretary-Margo Willis
from Spanaway, WA. Our Sarasota Chapter was also
presented a plaque in recognition and celebration for our
50th year “birthday”.
Our Sarasota Chapter of WCR recently installed the
following new members: Michael Taylor with Coldwell
Banker, Kathy Wagner with Sunbelt Title, Mark Moor
with Bank of Commerce and Hugh Ann Cason-Kelly
with Mary Kay.
We had our final program meeting for 2007 and it was
terrific. Our speaker, Molly Cardamone, former Sarasota
City Commissioner and Mayor and resident since 1945
shared some history of Sarasota and she forecast a great
future for our community. We also had a special guest,
Dotty Clary who took us back in time playing the role
of our 1957 Chapter President. In addition, we had a
new fundraiser, a Desert Auctions and many took home
wonderful sweets. Thank you to Leslie Lauritano of
Regions Mortgage and Lori Warnelo of SunTrust, who
co-chaired this new event.
Oops – left out from last month’s list of Sarasota WCR
Award winners Humanitarian of the Year: Congratulations
to Denise Leider, Lieder Realty Group
This year has been an incredibly rewarding experience.
I learned so much and enjoyed working with such great
people. WCR is where it all comes together. I appreciate
all who provided support to our WCR. Thank you. H
WCR announces 2008 officers
and schedule of events
t
By Cari Faanes-Blakey, 2008 WCR President
The Sarasota Chapter of the Women’s Council of Realtors® is your local chapter of the 12th
largest national professional women’s organization with over 19,000 members. We are a
network of successful Realtors® empowering women to exercise their potential as entrepreneurs
and industry leaders. But WCR is not just for women and not only for Realtors®. We welcome all
business professionals who are involved in the real estate community to join our chapter.
Cari Faanes-Blakey
President
Capital Properties and Services
Cell: 539-5117, [email protected]
Cari is a second-generation Realtor® who specializes in
residential real estate in Sarasota and southern Manatee
County. Prior to pursuing a career in real estate, Cari
was an implementation manager for financial software
vendors and was a credit manager and CEO for
financial institutions. Married to Colin, she has three
cats and enjoys spending her spare time doing home
improvement projects, golf and reading, and she is active
in politics.
Janice Litke
President-Elect
Prudential Palms
Cell: 727-403-1814, [email protected]
Originally from NY/NJ, Janice graduated from USF
in Tampa with her MBA and has been a Floridian ever
since. She has enjoyed working in the real estate industry
for over 20 years. In 2000 Janice decided to leave the
corporate world to practice real estate in Sarasota. She
loves the Florida lifestyle living on Lido Beach.
Theresa Morrow
Vice President of Membership
941-737-7676 phone,
[email protected]
Theresa is a native Floridian committed to her
community. Licensed as a Broker Associate, she enjoys
serving on committees for Women’s Council of Realtors,
and other professional associations as well as volunteer
work within her son’s school. Theresa also serves as a
Florida Notary Public. Along with her husband Dan,
teenage son Jake and beloved dogs Charlie and Liza,
Theresa’s family enjoys an active Florida lifestyle.
Mary Conklin
Treasurer
RE/MAX Gulfstream
941 504-4292 cell, [email protected]
Mary moved to Florida in 2007 from Duluth, MN
Continued on page 33, See WCR
PROGRAMS Calendar 2008
January
18
Program Meeting – Goal Setting With Kim
Dickey
23-26 WCR Mid Winter in Orlando
February
15
Program Meeting – International Real Estate
with CRS Dist 13
March
14
District 13 Forum
April
4-6
Mega Networking Summit in St. Louis
18
Program Meeting – Top Producer AwardsTime Management
May
9
Program Meeting – State President and past
Presidents
14-18 WCR/NAR Mid Year in Washington DC
June
11-13 Influential Women Summit in Boston
20
Program Meeting – joint with SAR – Elected
officials/candidates’ forum
August
15
Program Meeting – Effective CommunicationElection of Officers
September
5
Fashion Show
19
Breakfast Program Meeting-David Essel,
motivational Speaker, Joint with SAR
24-28 WCR/FAR Annual in Lake Buena Vista
October
17
Program Meeting – Insurance Panel
November
5-9
WCR/NAR Annual in Orlando
14
Awards and Networking event
January 2008
31
Membership News
The Association is pleased to welcome new members!
Designated Realtors®
Binford PA, Gregg, Cityscapes Int’l Realty Group
Drobnyk, Timothy, Timothy D Drobnyk Lic Broker
Holderbaum, Lee, The Marketing Directors Inc.
Knapp, Maria, Get Realty Inc.
Lalande, Julie, Julie C Lalande Lic RE Broker
Lopez, David, WEICHERT Realtor On the Island
Miller, Margo, Sarasota New Homes Realty Inc.
Ndah, Konrald, Florida Int’l Properties Group
Sinclair, Robert, 100% Real Estate Inc.
Thibault, Arnold, Arnold F Thibault R E Broker
Wagler, Clara, DMT Realty Services LLC
New Members
Adolfsson, Evelyn, Coldwell Banker Res R E Inc.
Barnard, Andrew, Lakewood Ranch Realty LLC
Bennington, Donna, Wedebrock Real Estate Company
Bertello, Mariella, Prudential Palms Realty
Burns, Debra, Century 21 Advantage
Carr, Robin, SKY Sotheby’s Intl Realty
Chazaud, Sandrine, York Real Estate Inc.
Dall’Acqua, Valerie, SKY Sotheby’s Intl Realty
Davis PA, Devon, SKY Sotheby’s Intl Realty
Dieter, Marco, Florida Sun Realty Corp
Escobar, Gonzalo, Century 21 Advantage
Farrington, Laticia, Horizon Realty
Figlesthaler, William, Prudential Palms Realty
Gaffney, Diane, Engel & Volkers Sarasota Realty
Gerrity, Patricia, Keller Williams Realty Central Giarrano,
Leonard, York Real Estate Inc.
Jaenicke, Janel, WEICHERT Realtors On the Circle
Jones, Laureen, Stringer Management Inc.
Kenney, Carolyn, Michael Saunders & Company
Lancaster, Sarah, Michael Saunders & Company
Lee, Natalie, RealtyOne Florida
Manzano, Daniel, Keller Williams Realty Central
Miller, Dan, WEICHERT Realtors On The Key
Ott, Jean, Coldwell Banker Res R E Inc.
Polizzi, Deborah, Prudential Palms Realty
Snyder, Inna, Coldwell Banker Res R E Inc.
Szilagyi, Beatrix, Century 21 Advantage
White, Daniel, RE/MAX Platinum Realty
Wolfe, Michael, Wedebrock Real Estate Company
Now With
Aberle, Craig, Kleiber DeVito Real Estate Group
Baker, Karen, Coldwell Banker Res R E Inc.
Baughen, Esti, Keller Williams Lakewood Ranch
Becker, Jamie, Coldwell Banker Res R E Inc.
Berezowsky, Lolita, Coldwell Banker Res R E Inc.
Bergeron, Shawn, Coldwell Banker Res R E Inc.
Bergeron, Grace, Coldwell Banker Res R E Inc.
Biggar, Cynthia, Keller Williams Realty Central
Bird PA, Victoria, Sandals Realty
Biro PA, Csilla, Coldwell Banker Res R E Inc.
Boeger, Julia, Coldwell Banker Res R E Inc.
Brennan, Peter, Coldwell Banker Res R E Inc.
Brissette, Edith, Horizon Realty
32
January 2008
Burmaster, Susan, Coldwell Banker Res R E Inc.
Burns, William, Capital Properties & Services
Butz, Stefan, Rock-N-Realty
Cabot, Ed, Coldwell Banker Res R E Inc.
Carlson, David, Coldwell Banker Res R E Inc.
Carlson, PA, Gail, Realty Executives Solutions
Carr, Robin, SKY Sotheby’s Intl Realty
Charbonneau, Lise-Anne, Michael Saunders & Company
Christoffel, John, Coldwell Banker Res R E Inc.
Clapper, Marsha, ERA Mount Vernon Realty Co Inc.
Clark, Brandon, Michael Saunders & Company
Cramer, Paul, Horizon Realty
Cucchi, Jason, Coldwell Banker Res R E Inc.
DeMerse, Richard, Century 21 Advantage
Dial, John, Coldwell Banker Res R E Inc.
Dieter, Marco, Florida Sun Realty Corp
DiStefano, Vanity, Suncoast International Realty
Duckett PA, Thomas, Peens Property Group Inc.
Earle Judd, M Peggy, Horizon Realty
Ellermets, Kent, Keller Williams Lakewood Ranch
Fagen, Jamie, Cityscapes Int’l Realty Grp
Fegley, Susan, Coldwell Banker Res R E Inc.
Fergusson, Rob, Coldwell Banker Res R E Inc.
GERMAIN, Patrick, Coldwell Banker Res R E Inc.
Gilfillian, Milton, Keller Williams Greater Manatee
Gray, George, Coldwell Banker Res R E Inc.
Grooms, Barry, RE/MAX Gulfstream Realty
Grooms, Barry, RE/MAX Gulfstream Realty
Hopper, Doug, Coldwell Banker Res R E Inc.
Iseli, Ulrich, Coppola Realty Group
Jamison, Joe, Coldwell Banker Res R E Inc.
Jensen, Carole, Coldwell Banker Res R E Inc.
Jerrems, Jenny, Coldwell Banker Res R E Inc.
Jiganti PA, Ann, Coldwell Banker Res R E Inc.
Johnson, Guy, Century 21 Advantage
Jones, Diane, Coldwell Banker Res R E Inc.
Jordan PA, Susan, Coldwell Banker Res R E Inc.
Kelly, William, Keller Williams Lakewood Ranch
Kenney, Carolyn, Michael Saunders & Company
Knapp, Maria, Get Realty Inc
Lacey, Laura, Allstar Realty Of Sarasota
Lalande, Julie, Julie C Lalande Lic RE Broker
Lancaster, Sarah, Michael Saunders & Company
Lewis, Matthew, Premier Properties of SW FL
Lewis, Craig, Premier Properties of SW FL
Lewis, Todd, Rooks-Morris Real Estate
Magoon, Jennifer, Coldwell Banker Res R E Inc.
Marlar, Martha, SKY Sotheby’s Intl Realty
McEleavy, June, Coldwell Banker Res R E Inc.
McNally, Shirley, Carefree Realty LLC
Mihok, Melissa, Kleiber DeVito Real Estate Grp
Moller, Debora, Coldwell Banker Res R E Inc.
Ndah, Konrald, Florida Int’l Properties Grp
Neal, Dr. Nelson, Horizon Realty
Perignon, Lydia, Century 21 Advantage
Pittman, Troy, SKY Sotheby’s Intl Realty
Polosky, David, Horizon Realty
Prestamo, Ena, Horizon Realty
WCR
Quigley, Jay, Coldwell Banker Res R E Inc.
Quigley, Bonnie, Coldwell Banker Res R E Inc.
Raven, Mary, RoseBay Real Estate Inc
Sabattini, Michele, Keller Williams Realty Central
Schweitzer PA, Mickey, Coldwell Banker Res R E Inc.
Sigurdson, Barbara Ray, Coldwell Banker Res R E Inc.
Sobczak, Iwona, Horizon Realty
Strelec, Robert, Charles Rutenberg Realty Inc.
Suito, Alisson, Coldwell Banker Res R E Inc.
Swartz, Bill, Coldwell Banker Res R E Inc.
Tannenbaum, Sharon, RE/MAX Gulfstream Realty
Taylor, Richard, Ambassador Realty Executives
Thacker, Terri, Michael Saunders & Company
Traberman, Tama, Wagner Realty
von Lazar, Nancy, Prudential Palms Realty
Wagner, Mark, Coldwell Banker Res R E Inc.
White, Daniel, RE/MAX Platinum Realty
Wilkes, Craig, Andrews & Associates Realty
Yturraspe, Jo Ellyn, Coppola Realty Group
Zoll, Reid, RE/MAX Gulfstream Realty
New Affiliate Members
BB&T Home Mortgage
5969 Cattleridge Blvd Ste 203
Sarasota, FL 34232
941-342-6837
Representative: Howard Nelson
Specialty: Home Mortgages & Commercial Lines
Karen Grant
Equitable Mortgage
8501 Placida Road Unit 5
Cape Haze, FL 33946
941-698-9993
Representative: Doreen Gentz
Specialty: Residential Mortgage Lender; Purchase, Refinance,
Construction & Equity Loans
Grandbridge R E Capital
1408 N Westshore Blvd Ste 910
Tampa, FL 33607
813-281-8467
Representative: Jay Ockman
Specialty: Grandbridge is a wholly owned subsidiary of BB&T
Corp. Providing commercial real estate financing..
Pamela Hastings Interior, Inc
1857 Floyd Street #200
Sarasota, FL 34239
941-953-9703
Representative: Pamela Hastings
Specialty: Residential & Commercial Interior/Design Services,
Turnkey Furnishing
Raymond W Boorstein, ASID
5694 Derek Ave
Sarasota, FL 34233
941-927-7090
Representative: Alan Boorstein
Specialty: Interior Design
where she had worked as a speech pathologist for the Duluth
School District. She worked as a speech pathologist in Manatee
County for two years and then “retired” - only to find herself
looking for something to do., Mary and her husband, Tom,
received their real estate licenses in 2005 and went to work
as a team. They both enjoy meeting people (both customers
and associates), and are enthusiastic and passionate about what
they do. Mary joined WCR in April of 2007 and immediately
got involved as co-chair of the Fashion Show. She says “It was a
great way to get my feet wet and to meet lots of great people.”
In June she agreed to take over the Treasurer position for the
remainder of the year, and then agreed to be on the ballot
for 2008. Tom and Mary have two children (both married)
and two grandchildren. When not listing or selling homes or
balancing the books for WCR, she enjoys traveling, golfing,
walking and reading. Mary is a past-President of the Junior
League of Duluth and a current member of the Junior League
of Sarasota, University Park Country Club and University Park
Women’s Club.
Recording Secretary
RE/MAX Tropical Sands
941-349-3460, [email protected]
Karen grew up in the Midwest. She married her high school
sweetheart and made many moves during his career. Karen
has a graduate degree in Art and Design from University of
California, Davis. She worked in retail management prior to
her real estate career in California. She has over eighteen years
experience in real estate and has been license in the state of
California and is license in Washington State as a relocation
specialist, and license in Florida. Between work and being with
her wonderful family, friends, and her little Bichon, Scooter,
Karen has an intense love of the arts. She enjoys doing charity
work, singing, swimming, golf, painting and needlepoint.
Tracy Bierman
Corresponding Secretary
First American Title
941-228-1144 cell, [email protected]
A Sarasota native and a University of Florida graduate, Tracy
has been in the real estate industry since 1989. She is proud to
work for First American Title and has served as their sales and
marketing representative in Sarasota for 6 years.
She has been a member of the Sarasota Association of
Realtors since 1998 and is finishing her second term as Affiliate
Chairman. She is also active with Women’s Council of Realtors
and was awarded Affiliate of the Year in 1999.
When not working, Tracy and her husband, Larry are active
with their four children and volunteer activities H
January 2008
33
Ethics in Action
34
Hardwood floors almost cause
an ethics dilemma
s
Seller A came to Realtor® B’s office explaining that his company was transferring him
to another city and he wished to sell his home. In executing the listing contract, Seller A
specified that the house had hardwood floors throughout and that the selling price would
include the shutters and draperies that had been custom made for the house.
Seller A said that he would like to continue to
occupy the house for 90 days while his wife looked
for another home at his new location, and agreed that
Realtor® B could show the house during this time
without making a special appointment for each visit.
Accordingly, Realtor® B advertised the house, showed
it to a number of prospective buyers, and obtained
a purchase contract from Buyer C. Settlement was
completed and at the expiration of the 90-day period
from the date of listing, Seller A moved out and Buyer
C moved in.
On the day that Buyer C moved in, seeing the
house for the first time in its unfurnished condition,
he quickly observed that hardwood flooring existed
only on the outer rim of the floor in each room that
had been visible beyond the edges of rugs when he
inspected the house, and that the areas that had been
previously covered by rugs in each room were of
subflooring material.
He complained that Realtor® B, the listing broker,
had misrepresented the house in his advertisements
and in the description included in his listing form
which had specified “hardwood floors throughout.”
Buyer C complained to Realtor® B, who immediately
contacted Seller A. Realtor® B pointed out that the
house had been fully furnished when it was listed and
Seller A had said that the house had hardwood floors
throughout.
Seller A acknowledged that he had so described
the floors, but said the error was inadvertent since he
had lived in the house for ten years since it had been
custom built for him. He explained that in discussing
the plans and specifications with the contractor who
had built the house, the contractor had pointed
out various methods of reducing construction costs,
including limiting the use of hardwood flooring to
January 2008
the outer rim of each room’s floor. Since Seller A had
planned to use rugs in each room, he had agreed,
and after ten years of living in the house with the
subflooring covered by rugs, he had “simply forgotten
about it.”
Realtor® B explained, however, that Seller A’s
description, which he had accepted, had resulted
in misrepresentation to the buyer. “But it’s a small
point,” said Seller A. “He’ll probably use rugs too, so
it really doesn’t make any difference.” After further
pressure from Realtor® B for some kind of adjustment
for Buyer C, Seller A concluded, “It was an honest
mistake. It’s not important. I’m not going to do
anything about it. If Buyer C thinks this is a serious
matter, let him sue me.”
Realtor® B explained Seller A’s attitude to Buyer
C, saying that he regretted it very much, but under
the circumstances could do nothing more about it. It
was at this point that Buyer C filed a complaint with
Realtor® B’s Board.
At the hearing before a Hearing Panel of the
Professional Standards Committee of Realtor® B’s
Board, during which all of these facts were brought
out, the panel found that Realtor® B had acted in
good faith in accepting Seller A’s description of the
property. While Article 2 prohibits concealment of
pertinent facts, exaggeration, and misrepresentation,
Realtor® B had faithfully represented to Buyer C
information given to him by Seller A. There were
no obvious reasons to suspect that hardwood floors
were not present throughout as Seller A had advised.
Realtor® B was found not in violation of Article 2.
- Case #2-3: Obligation to Disclose Defects (Revised
Case #9-9 May, 1988. Transferred to Article 2 November
1994.) H
Volunteer
Calif., and president of her local Rotary Club, in touch
with local businesspeople and city council representatives.
Through in-person conversations and club projects,
she built meaningful relationships in her community
that could never have been made via e-mail or phone.
Some recent Rotary activities have included donating
dictionaries to local school kids and providing wheelchairs
to people in Mexico.
When fellow Rotary Club members have commercial real
estate needs, Bass is their go-to person. But she says the
biggest benefit of volunteering is the pick-me-up she gets
from doing good things. “The meetings give me purpose
that I look forward to, especially when I’ve had a difficult
week,” says Bass.
In today’s high-tech age, “it’s hard to feel connected
on a deeply meaningful level,” says Rosenthal, from
VolunteerMatch. “Volunteering is an opportunity to
connect with others who share a similar cause.”
Reason #5: It’s Time to Expand Your
Professional Horizons
In the early 1990s, Saul Klein, E-Pro®, GRI, owned
a real estate brokerage, property management firm,
and a financial-planning business, yet he was becoming
increasingly interested in finding a new avenue for his real
estate skills.
At the same time, through his volunteer work with the
San Diego Association of Realtors®, including a post as
president of the group, he uncovered a zeal for emerging
real estate technologies. He used his newfound passion as a
launching pad for the next chapter of his career.
Klein now educates other real estate professionals on
how to use technology, does speaking engagements around
the country, has written real estate courses and books on
technology, and is a founder of InternetCrusade, a San
Diego company that manages the e-Pro® designation for
the NATIONAL ASSOCIATION OF Realtors®.
“Volunteering really has paid me back,” Klein says. “I
love being able to take a message to people that I believe is
valuable and that will make differences in their lives. It’s very
rewarding when people tell me my advice is valuable.”
Volunteering can do the same for you; perhaps it will
open the door to a new business niche or help you uncover
a new path for your real estate career. You also can use
volunteer opportunities to learn about a business specialty.
For example, if you specialize in waterfront properties and
you want to learn more about the issues that local residents
face, volunteer with a beach clean-up organization. Or,
if your aim is to develop a niche selling green property,
consider volunteering at an environmental awareness group.
There, you can learn more about the movement and meet
prospects interested in environmentally sound homes.
Reason #6: You’ll Appreciate What
You Have
Life seems tough when you don’t have an iPhone or you
can’t afford to hit Starbucks every morning. But when you
see firsthand how families live without heat, electricity, or
indoor plumbing, you might feel a little better about your
present situation.
Sean Waters, a salesperson with Gibson Sotheby’s
International Realty Boston, Mass., says he’s witnessed such
living conditions for the first time during a “magical and
enriching” volunteer vacation to Cuzco, Peru, earlier this
year. There, he rehabbed an orphanage and taught children
English and baseball.
Despite lacking many comforts that Americans take
for granted, Waters was amazed to see that Peruvians live
happy lives with an intense love for and focus on family
and friends. That realization sparked changes in Waters’
life when he returned home. He now makes more of an
effort to spend quality time with his loved ones. “We work
so hard, yet we’re lacking so much in terms of having time
for each other,” says Waters.
The trip also served as a business motivator. Waters
recognized that he needs to ramp up production to
finance more service trips (next up is India) and to visit
out-of-state relatives.
The other business benefit: Waters says the experience
broadened his world view and will help him better
connect with some of his sophisticated, well-traveled
clients. At the very least, travel talk beats the weather as a
topic for chit-chat.
Reason #7: You’ll Feel So Good About It
A growing body of research links volunteering with better
health. One study, The Health Benefits of Volunteering: A
Review of Recent Research, by the Corporation for National
and Community Service, says volunteering improves
longevity, lowers depression rates, and reduces the rates of
heart disease.
Indeed, many volunteers cite a phenomenon commonly
called, “helper’s high,” in which they gain feelings of
exhilaration and energy from volunteering. MacPherson
says she likens the feeling she gets from volunteering to the
endorphin rush after a workout.
Hanson agrees. She says her post-volunteering highs
frequently last five days and translate into greater enthusiasm
for her work and life in general.
“Happier people live longer, and happier people are
going to sell more real estate than grumpy ones,”
MacPherson says. H
January 2008
35
International Council making
major plans for 2008
s
SAR’s International Council experienced
a banner year in 2007, highlighted by the
first-ever Sarasota International Congress
in September at Lakewood Ranch Country
Club. But plans are already under way for
an even bigger 2008!
Thus far, the following events have been scheduled for
the coming year, with the Council leadership still planning
several more educational opportunities and events:
Friday, Jan. 18, 2008:
Annual International Tax Update with Tom Roberge
& Renea Glendinning, CPAs
Friday, June 6, 2008:
Secrets of Cross Cultural Sales with Tony Macaluso
Friday, Feb. 22, 2008:
International Marketing and Blogging for Profit with
Deborah Valledor
September 10-12, 2008:
Sarasota International Real Estate Congress at the
Hyatt Sarasota on Sarasota Bay
Wednesday, March 19, 2008:
Annual Immigration Update with Attorneys Donna
Scarlatelli and Steven Culbreath
The International Congress will be the second staged
by the local council, following a remarkably successful
event in 2007. Almost 200 people took part in the
event, and the response was overwhelmingly positive
from those attending.
For more information on these events, please call
Catherine McCaskill at 941-328-1167 or email her at
[email protected]. H
Monday, April 7, 2008:
How to Make Green $$$ in a Changing Marketplace
with Dr. Ted Jones, Senior Vice-President-Chief
Economist, Stewart Title Guaranty Company
36
April 8-12 and 10-13, 2008:
SIMA & FNAIM conferences in Madrid and Paris
(please contact SAR as soon as possible for sponsorship
opportunities)
January 2008
t
International
Real Estate
By Thomas C. Roberge, CPA, Sarasota and St. Petersburg
There is a U.S. tax rule that allows an individual to exclude from tax up to $250,000 of
gain ($500,000 for a husband and wife meeting certain conditions) from the sale of a
home owned and used by that individual as a “principal residence” for at least two of
the five years immediately prior to the sale. “Principal residence” is a technical term
created by the U.S. government of course.
This rule may (at first impression) seem
to conflict with the 10 percent withholding
requirement when a nonresident alien sells U.S.
real estate. That rule requires that 10 percent of
the total sale price be withheld at closing and
paid within 20 days to the IRS on behalf of the
foreign seller. The seller either applies for relief
if the tax is less than that amount or files an
income tax return for a refund to claim back the
excess withholding.
These rules do conflict – but here is the fact
pattern that occurs where the $250,000/$500,000
exclusion of gain exception takes over and
overrides the 10 percent FIRPTA withholding
rule. We have dealt with several of our foreign
national clients who have moved here on certain
U.S. residency visas and lived here for many
years. For various reasons they have moved back
abroad and abandoned their U.S. residency
visas so that, in effect, they have reverted back
to nonresident alien status from resident alien
status for U.S. income tax purposes. Many
of these individuals did not sell their former
principal residences until they moved back
abroad and became nonresident aliens again.
So what! It does not matter that they were
nonresident aliens when they sold their former
U.S. principal residence. All that matters is
that they lived in the property as their
principal residence for two of the five years up
to the date of sale. They are still subject to the
10 percent FIRPTA withholding, but can apply
for relief claiming the benefits of the principal
residence exclusion.
Here is an example of how the rule works. Mary
and John Stanton are UK citizens. Mary was
transferred to Orlando, Florida on a temporary
work visa on July 8, 2003 to become an executive
for a company here. Mary and John purchased a
home in the Orlando area on August 28, 2003.
Mary and her family lived here until August
2, 2007, at which time she moved back to the
U.K. and surrendered her temporary work visa
and reverted back to nonresident alien status.
Mary and her husband filed joint U.S. income
tax returns while they lived here. She listed her
Orlando residence for sale on May 17, 2007, but
because of poor market conditions was unable to
sell the home until March 5, 2008.
Mary and John were nonresident aliens when
they sold the Orlando property. However,
because the home was their principal residence
for two out of the five years up to the date of
sale, they qualify for the exclusion of gain on
the sale of a principal residence. Mary and John
obtained an exemption from the 10 percent
FIRPTA withholding by filing an application
for relief.
We have successfully obtained numerous
withholding certificates using strategies we
have developed for handling these situations.
Feel free to contact us at (727) 822-9393 or
(941) 952-5848 if you want more information
how these generous rules could apply to you or
your client. H
Copyright, 2007,
Thomas C. Roberge & Company,
All Rights Reserved
January 2008
International Real Estate
How can a non-resident alien
exclude up to $250,000
on taxes?
37
Resolutions
book Taming the Paper Tiger (Kaplan, 2005). Hemphill says
anything that finds its way onto your desk should do one of
three things:
F: File it!
A: Act on it!
T: Trash it!
Following this procedure will help you get rid of clutter and
stay organized for the New Year.
I resolve to … Update and revise my
sphere of influence list
Making sure you’re contacting your sphere of influence for
the upcoming year is important. It’s always a good idea prior
to the New Year to go through your database and update new
contacts that should receive your marketing mail-outs as well as
taking off of your list those contacts that need deleted.
Working your S.O.I. is still an excellent area to prospect and
get new leads into your consumer pipeline. Use a computer
software program to assist with your drip marketing program.
If you’re not able to contact your S.O.I. on a regular basis, then
hire someone who can do this for you.
I resolve to … Read articles related to
my real estate profession
NAR marking centennial
celebration in 2008
The strength of the National Association of Realtors® today
reflects the ambitious vision of its founders: the 120 men who
gathered in May 1908 at a Young Men’s Christian Association
hall in Chicago. Their stated goal was “to unite the real estate men
of America for the purpose of exerting effectively a combined
influence upon matters affecting real estate interests.”
It wasn’t the first attempt to organize a national association for
the real estate industry, but the visionary players involved and
the timing of the meeting made this an effort that was destined
to succeed. The country had recovered from a major depression,
and the population — added by a big influx of immigrants,
mostly from Europe — was shifting from rural to urban. Real
estate was becoming a complex business, one that required the
assistance of someone in the know.
The founders sought to bring professionalism to an enterprise
that had evolved more or less without rules. They understood
that to earn the trust of a skeptical public, they needed to
bring form and standards to the business of real estate. The
foundation they built has proved enduring. What emerged
from that meeting in 1908 was the National Association of Real
Estate Exchanges, which 100 years later thrives as the National
Association of Realtors®.
Editor’s Note: Throughout the year, we will bring you more
NAR centennial articles.
You will find a wide array of assistance with timely issues
at REALTOR® Magazine Online. Set a goal to read one new
article a day that is related to your business practice. You’ll
find that taking the time to research and read articles you
have an interest in will greatly improve your business and
build confidence. If you’re not taking advantage of all of the
resources on REALTOR.org, you’re missing out on a “wealth”
of information.
I resolve to … Write down my goals
down and look at them daily
Stanford University did a study several years ago about people
and goals. They concluded that approximately 80 percent of the
people who set goals (by writing them down and reading them
on a daily basis) achieved their goals. If you’ve not taken the
time to write down your goals for the New Year, it’s time to grab
a pen and start. Laminate your goal sheet and read it every day,
reminding yourself that you will achieve your goals next year.
By implementing a few new changes in the way you do
business, you can make next year a successful and prosperous
venture. It might require some hard work, determination, and
a little imagination to achieve success in the upcoming year, but
in the long run it will all be worth it! H
38
January 2008
BUSINESS CARDS • POSTCARDS • BROCHURES
NOW OFFERING
DIRECT MAIL SERVICES
DIGITAL PRINTING
UV COATING
1500 N. Washington Blvd. • Sarasota, FL 34236
941-366-0755 • 800-282-6192
fax 941-365-6327 • www.serbinprinting.com
Advertisers Index
The following businesses have placed advertising in
Sarasota Realtor Magazine. Please consider
these companies when doing business.
Dakkak Insurance............................................................... 39
Herald-Tribune Media Group................................................. 29
Longboat Key Club................................................................ 3
Pulte Homes......................................................................... 2
Serbin Printing, Inc.............................................................. 38
Mother nature already owns two-thirds of the earth.
Now she’s got her eye on your place.
Call or visit our
website to learn
about our preferred
and standard flood
insurance from Allstate.
WARNING: Homeowners insurance
doesn’t cover flooding. Call your
insurance agent to further protect
your home.
Are you prepared? Call me to find out.
George Dakkak, CLU, ChFC, CLTC
MEMBER
WEST FLORIDA
Home
Auto
Health
4370 South Tamiami Trail
Suite 156
Sarasota, FL 34231
Life
Financial
941.926.2800
Visit our Easy Quote web page.
www.dakkakinsurance.com
Mon., Dec. 31, 2007 through Fri., Feb. 8, 2008
New Year Holiday
(Offices Close at 12 Noon)
Tuesday
Wednesday
Jan. 1
2
Thursday
3
New Year Holiday
(Offices Closed)
8:00 a.m.
MLS Zone 1
7
9:00 a.m. & 2:30 p.m.
New Members
7:30 a.m. – 9:00 a.m.
WCR Toastmasters
9:00 a.m. & 2:30 p.m.
New Members
8
8:30 a.m.
CID Board Meeting
1:00 p.m. – 2:30 p.m.
E-Pro Workshop
9
9:00 a.m. – 11:30 a.m.
Basic MLXchange
Hands On Training
9:00 a.m. & 2:30 p.m.
New Members
14
15
9:00 a.m. – 4:00 p.m.
New Member Orientation
9:00 a.m. & 2:30 p.m.
New Members
1:00 p.m. – 4:00 p.m.
Code of Ethics
8:00 a.m.
CID General Membership
Meeting
21
22
9:00 a.m. – 11:00 a.m.
iMAPP Training
9:00 a.m. & 2:30 p.m.
New Members
10
16
Classes are conducted every
other week on the new
MLXchange system. Please visit
www.sarasotarealtors.com and
click on Register for Classes under
the Education tab for the
latest class dates and times.
11
9:00 a.m.
New Members
12:00 p.m. – 1:30 p.m.
SYR Meeting
REO and Foreclosures
17
8:00 a.m.
MLS Zone 3
23
9:00 a.m. – 11:30 a.m.
Basic MLXchange
Hands On Training
9:00 a.m. – 12:00 p.m.
FAR-9 Contract Seminar
9:00 a.m. & 2:30 p.m.
New Members
1:00 p.m. – 4:00 p.m.
Niche Marketing
5:30 p.m.
SYR Social Event
(LeBarge, Rain Date)
4
9:00 a.m.
New Members
10:00 a.m. – 12:00 p.m.
Property Tax Update
8:00 a.m.
MLS Zone 2
9:00 a.m. – 11:30 a.m.
Advanced MLXchange
Hands On Training
7:30 a.m. – 9:00 a.m.
WCR Toastmasters
9:00 a.m. – 12:00 p.m.
New Medicaid Rules and
RE Investment/Purchases
with Reverses
9:00 a.m. & 2:30 p.m.
New Members
Friday
18
9:00 a.m.
New Members
9:00 a.m. – 12:00 p.m.
International Tax Update
24
8:00 a.m.
MLS Zone 1
9:00 a.m. – 11:30 a.m.
Advanced MLXchange
Hands On Training
PRSRT STD
U.S. POSTAGE
PAID
MANASOTA, FL
PERMIT NO. 451
Monday
31
Ongoing MLXchange
Training:
25
9:00 a.m.
New Members
For more information on Educational Programs, please see pages 22 - 25
8:00 a.m. – 5:00 p.m.
GRI 1
9:00 a.m. & 2:30 p.m.
New Members
29
8:00 a.m. – 5:00 p.m.
GRI 1
4
8:00 a.m. – 4:00 p.m.
GRI 1
9:00 a.m. & 2:30 p.m.
New Members
30
7:30 a.m. – 9:00 a.m.
WCR Toastmasters
8:00 a.m. – 5:00 p.m.
GRI 1
9:00 a.m. & 2:30 p.m.
New Members
5
8:00 a.m. – 5:00 p.m.
GRI 1
8:30 a.m.
CID Board Meeting
31
8:00 a.m.
MLS Zone 2
6
8:00 a.m. – 3:00 p.m.
GRI 1
9:00 a.m. – 11:30 a.m.
Basic MLXchange
Hands On Training
9:00 a.m. & 2:30 p.m.
New Members
Feb. 1
9:00 a.m. – 11:00 p.m.
GRAS Indoor Air and
Water Quality
9:00 a.m.
New Members
7
8:00 a.m.
MLS Zone 3
9:00 a.m. – 11:30 a.m.
Advanced MLXchange
Hands On Training
8
9:00 a.m.
New Members
12:00 p.m. – 1:30 p.m.
SYR Meeting
FHA and VA Loans
Sarasota Association of Realtors®, Inc.
3590 S. Tuttle Ave.
Sarasota, FL 34239
28

Smooth Sailing - Realtor Association of Sarasota and Manatee

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