CID: Your key to success - Realtor Association of Sarasota and

Transcription

February 2007
CID:
Your key
to success
2007 President
Diane Lawson
outlines winning
philosophy Page 6
FAR Applauds Property Insurance Breakthrough! Page 8
"-Ê "7Ê"* t
À>VÕÃÊ
ÕÌÀÞÊÛ}Ê
+ÕiÌÞÊ,iÛi`ÊvÀÊ/iÊ"À`>ÀÞ
°Ê*/Ê
]Ê
°
Êx]ÈÎÈÊÃµ°vÌ°®
xÊLi`ÀÃ]ÊxÊL>ÌÃ]ÊÛ}Ê>`Ê`}ÊÀÃ]Ê
v>ÞÊÀ]ÊÜiÊÀ]ÊiÀÊÃÌÕ`ÞÉLÀ>ÀÞ]Ê}>iÊ
À]Ê>>ÃÊÊÕ««iÀÊEÊÜiÀÊiÛiÃ
->À>ÊÕ`>À}>ÉÀ>Ê7`
-",, /"ÊÈ]Ç{ÎÊÃµ°vÌ°®
{ÊLi`ÀÃ]ÊxÊL>ÌÃ]ÊÓÊ>vL>ÌÃ]Ê`i]ÊÛ}ÊÀ]Ê
`}ÊÀ]ÊiÝiÀVÃiÊÀ]ÊiÃÕÀiÊÀ]Ê«]Ê
VÛiÀi`Ê«>Ì]Ê`ÀÊV>L>>]Êi`>ÊÀ°
,Ãi>ÀÞÊiÃÉ,ÃiÊ>Þ>
Ê£nnxx£
,
£ÎÓÇÓ{È
{£ÓÎxnän
{£ÓÇÇÓnä
Êä£nxÓx
4BSBTPUBTUISFFQSFNJFSIPNFCVJMEFST
QSPVEMZQSFWJFXUIFJSCSBOEOFXIPNFEFTJHOTDSFBUFE
FYDMVTJWFMZGPS5IF'PSFTUBU)J)BU3BODIy
4BSBTPUBTPOMZMPXJNQBDUEFWFMPQNFOUDPNNVOJUZ
QSPWJEJOHBOBUVSBMTFUUJOHGPSHSBOEFTUBUFIPNFT
$PNFTFFTPNFUIJOHOFXBOEEJGGFSFOU
3!2!3/4!
"EE2IDGE%XT
{£ÓÈxxx
-/Ê,"--Êx]££ÎÊÃµ°vÌ°®
xÊLi`ÀÃ]Ê{ÊL>ÌÃ]ÊÓÊ>vL>ÌÃ]ÊÛ}Ê>`Ê
`}ÊÀÃ]Ê}>ÌiÀ}ÊÀ]ÊÃÌÕ`Þ]ÊÕ«ÃÌ>ÀÃÊ
ÀiÌÀi>ÌÊ>`ÊÛiÀ>`>]Ê>`ÊÕÌ`ÀÊÛ}Ê>Ài>°Ê
ÕiÃÌÊVÌÌ>}iÊ>LÛiÊÓV>ÀÊ}>À>}i°
`>Ê
Õvv>À
0ROCTOR2D
#LARK2D
%8)4
/NLY-ILESEASTOF)
ON#LARK2OAD32
t(BUFEOFJHICPSIPPEPG
UISFFUPTJYBDSFIPNFTJUFT
t6OJRVFMPXJNQBDUEFWFMPQNFOU
HVJEFMJOFTQSFTFSWFUIFCFBVUZ
BOEJOUFHSJUZPGUIFMBOE
t#FBVUJGVMQJOFTTUBUFMZPBLT
SFDSFBUJPOBMMBLFTBOEXFUMBOE
QSFTFSWFT
t)PNFTJUFBOESFTJEFODFGSPN
NJMMJPO
«ÀViÃÊEÊ>Û>>LÌÞÊÃÕLiVÌÊÌÊV>}i®
/iÀiÃÌÌ>Ì,>V°V
Th e Time is Now
Owner’s Club
Dominica Gulf Terrace features an Al Fresco Kitchen
LAST CHANCE
FOR
THE LAST GREAT BEACHFRONT OASIS
ON
LIDO KEY
A precious few of our most exquisite residences remain. Don’t miss your chance
to live in this private island enclave where the infinite views, refined amenities
and unparalleled concierge services combine with the luxuries of an exclusive
beach club and private owner’s club to soothe the senses and captivate the heart.
There’s nothing quite like living here. There never will be again. Come join us.
A limited number of beachfront residences
remain from the high $2 millions.
SARASOTA, FLORIDA
Experience the enchantment for yourself. Contact us today to schedule your private tour.
Toll-Free: 877-388-2050 • 941-388-2050 • www.orchidbeachclub.com
A NOTHER E XCEPTIONAL C OMMUNITY
BY
U.S. A SSETS G ROUP
Broker cooperation welcomed
Michael Saunders & Company
Licensed Real Estate Broker
Prices & features subject to change without notice. Offer void where prohibited by law.
ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE
REFERENCE TO THIS ADVERTISEMENT AND TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE.
Contents
Sarasota
Volume 4 • Issue 2 • February 2007
Volume 4, Issue 2
February 2007
R E A LTOR
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
Sarasota Realtor®
Keys to Success
New CID President Diane Lawson is a strong believer in the local commercial
sector, and particularly the importance of the Commercial Investment Division
and its membership in helping to guide commercial real estate professionals
toward success..
Progress on Insurance
The property insurance crisis facing the state of Florida and the real estate
industry was addressed during the Florida Legislature’s Special Session in midJanuary, and FAR believes strong measures were taken which will help resolve
the issue.
3590 South Tuttle Avenue
Sarasota, Florida 34239
Phone: 941/923-2315
FAX: 941/923-0191
www.sarasotarealtors.com
2007 Officers
President
Joe Hembree
Hembree and Associates Inc.
President-Elect
Helen V. Sosso
Prudential Palms Realty
Secretary
Laura Benson
Prudential Palms Realty
Treasurer
William Geller PA
Suncoast International Realty
Immediate Past President
Felix Power
Coldwell Banker Residential Real Estate, Inc.
Chief Executive Officer
Kathy Roberts
10
Impact Fees Delayed
Governmental Affairs Director Marc Mansfield provides an update on the
proposed impact fee hikes, and how those fees impact the local real estate and
development industry.
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.
15
Time2Buy Campaign
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.
35
The Sarasota Association of Realtors® has launched the 2007 Time2Buy
campaign, and is now looking for local real estate professionals, brokers and
other businesses to join in this educational, informational effort.
Paris is Calling
Editorial Staff
The SAR will once again send a contingent to the Salon National de L
‘Immobilier annual real estate trade show in Paris on March 22-25, and
you can participate by promoting your featured property listings on a special
CD-ROM.
In every issue
Director of Communications
Ray Porter
Director of Member Services
Dan Andrews
Director of MLS Information Systems
Jesse Sunday
Director of Professional Development
Catherine McCaskill
10- Governmental Affairs Update
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
37- International Real Estate
40- Calendar of Events
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 ray@
sarasotarealtors.com.
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?
In 1989, the National Association of Realtors® adopted The Voice for
Real Estate as its theme and as part of its official logo. Along with this
theme, the NAR encouraged more members to include the Realtor®
emblem on their business cards and stationery.
February 2007
Sarasota Realtor® is published monthly by the
Sarasota Association of Realtors® Inc.
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.
2006 Copyright© by the Sarasota Association of
Realtors®, Inc. All rights reserved. Reproduction
in whole or in part without written permission is
prohibited.
Cover Story
CID:
Succeeding in a competitive
commercial market
Editor’s Note: Diane Lawson was installed as 2007 Commercial Investment Division President at the SAR/CID Installation Banquet in
December. Here are her thoughts on the coming year of CID and commercial activity in the Sarasota market.
f
First, I’d like to thank you for the opportunity to serve as President of the CID in 2007. I am
looking forward to a great year! The commercial real estate market remains strong with very
low vacancy rates, despite the high cost of insurance and property taxes. To help overcome
some of the challenges that we as commercial brokers face, the Board of Directors has made
a commitment to its membership in the following areas in 2007:
During the coming year,
we look forward to raising
awareness and increasing
participation of what has
already been the amazingly
successful
Suncoast
CIX, the Suncoast’s new
commercial information
exchange. This data
sharing platform provides
Realtors with one place to
shop for commercial real
estate.
Diane Lawson
The Catylist-powered
system is the backbone
to the web site of the nation’s top commercial
practitioners, CCIMNet, with its unparalleled data
composition and features. The overwhelming and
immediate participation proves that the system has filled
a void in the market.
As of the date that this article was written there were
hundreds of local and thousands of national listings
on the website! To make this the best system it can
be we also look forward to extending participation to
Manatee, Venice, Englewood, North Port, Port Charlotte
and Naples. Sharing information is key to success!
The CID Board of Directors has also made networking
a top priority for 2007. In an effort to increase networking
opportunities you will see several Power Pitch Sessions
scheduled throughout the year. During these monthly
meetings, the entire monthly program will be devoted
to pitching listings, followed by an open forum for
discussion of the properties. The first pitch session will
February 2007
be held on Feb. 20 at the SAR Main Auditorium.
These sessions should provide a great avenue to
market a property or project in greater detail and receive
feedback from other commercial professionals. We will
also be looking to schedule additional social events
throughout the year. Networking is another key to
success.
The SAR and CID Boards of Directors, along with
its Governmental Affairs Director, will also be tracking
the issues that affect our business, including those like
the proposed impact fee hike and land use control over
annexed areas. We will be in constant contact with
governmental officials and be voicing our positions early
on in the decision making process. Staying informed is
another key to success.
Of course, the CID will continue providing community
support through our annual fundraising event. Our
small, 350 plus membership organization has donated
more than $42,000 to local organizations and charities
over the last three years! We are already looking forward
to the annual CID Golf Tournament in September,
which will once again raise funds for local groups. Last
year, we donated a total of $15,000 to Mote Marine
Aquaculture Center, Crowley Museum and Nature
Center, and the Construction Technology Careers
education program. Getting involved and helping to
make our community an even better place to live is
yet another key to success.
Thank you once again for this great opportunity, and
I look forward to working with the Board, staff and
members throughout the next year!
February 2007
Florida Legislators roll back Citizens
premiums, insure vacation properties
c
Editor’s Note: In late January, the Florida Legislature met in Special Session to address the burgeoning property insurance crisis, and came up with a solution
that could lower premiums and provide some relief for millions of homeowners, and help the real estate industry recover from a difficult period.
Charged with the daunting task of reducing homeowners’ insurance premiums for millions of Florida
property owners, the Florida Legislature on Jan. 22 passed a 167-page bill that could lower premiums
between 5 percent and 40 percent and provide other insurance relief to millions of property owners. Gov.
Charlie Crist signed the legislation on Jan. 24.
“Florida’s 160,000 Realtors® congratulate the governor for his
• Require insurance companies to give at least 100 days
commitment to reducing property insurance costs, and to the
written notice, or written notice by June 1, whichever is
Legislature for acting in a truly non-partisan manner to provide
earlier, for any non-renewal, cancellation or termination of
relief to those who call Florida home,” said Nancy Riley, 2007
a homeowners policy that would be effective between June
President of the Florida Association of Realtors (FAR). “This
1 and Nov. 30;
is a good first step in re-energizing the housing sector of our
• Require insurance companies to expedite payment of claims
economy so buyers can take advantage of very attractive interest
following a storm. Insurers must pay or deny a property
rates. But there’s more work to be done in order to create a
insurance claim within 90 days of notice of the claim with
vibrant and competitive insurance market.”
an exception for factors beyond the control of the insurer.
• Prohibit excess profits by property insurers.
Here’s how legislators intend to make that happen:
Expand the market
Lower rates
• Allow property owners to exclude windstorm coverage from
their policies;
• Allow policyholders to exclude contents coverage;
• Remove the requirement that Citizens Property Insurance
Corp. charge the highest premiums in the state;
• Repeal Citizens’ Jan. 1, 2007 rate increase and freeze rates
at the Dec. 31, 2006 level.
• Eliminate the cap on deductibles so a homeowner can choose
a deductible other than the standard 2 percent, 5 percent or
10 percent in current law. However, the policyholder must
execute a written statement demonstrating understanding
and intent, and must obtain approval by a lender if the
deductible is more than 10 percent on a home valued
under $500,000.
• Allow non-homestead properties to be eligible for Citizens
coverage effective March 1, 2007;
• Authorize Citizens to write multi-peril policies in the
windstorm pool, which will result in a direct decrease in
premiums for at least 110,000 policyholders.
Protect policyholders
• Require all Florida-only insurance company subsidiaries
to have a surplus of at least $50 million in liquid assets to
help ensure that policyholders receive payment when they
need it;
• Require insurance companies to evaluate the hurricanesecurity of a structure rather than the date of construction
when determining risk and establishing premiums. Age of
the home may not be used as the sole reason for rejection
of coverage;
February 2007
• Require any insurance company that writes homeowners
policies in other states and writes auto insurance in Florida
to sell homeowners insurance in Florida effective Jan. 1,
2008;
• Allow Citizens to write statewide commercial insurance
policies and to determine policy limits and premiums;
• Allow Citizens to sell traditional homeowners policies to
350,000 customers who currently buy only windstorm
coverage from Citizens;
• Enable insurance companies to purchase additional backup
insurance from the state’s Hurricane Catastrophe Fund at
rates lower than on the private reinsurance market;
• Repeal a law that had called for insurers to pay extra into
the fund to build up its reserves;
• Allow state regulators to waive a deposit requirement for
foreign-based reinsurance companies to lure more worldwide
reinsurers to sell coverage to Florida companies.
“Today, property owners in Florida are very happy,” said
John Sebree, FAR’s Vice President of Public Policy. “The goal
of the one-week special session was to lower property insurance
rates. It’s what the citizens were seeking and what the governor
promised.
“But this is just the beginning of meaningful reforms,” he
adds. “Available and affordable property insurance remains a
key issue for Florida Realtors, and FAR will press legislators
for additional reforms during the 2007 legislative session that
begins March 6.”
To read the legislation in its entirety, visit
http://snipurl.com/185co
February 2007
Governmental Affairs
In Government Affairs,
participation is a requirement
a
By Marc Mansfield
As your new Governmental Affairs Director (shared with Venice Area Board), I am excited and
honored to be involved with this association and I look forward to meeting and working with
many of you in the near future.
Government Affairs means different things to
different people. Some believe monitoring the
activities of local, state and national elected officials
is work better left to someone else. Others believe
it isn’t important who is elected and what rules or
regulations they support or oppose, and yes, some
people believe it really makes no difference who is
elected to office in today’s political environment.
Yet, there are people who subscribe to the belief
that it is important for elected officials to be
held accountable for the rules and regulations
they impose upon organizations, associations, the
business community or community at large, and
even more important that elected officials receive
input and feedback on issues that impact the ability
of an individual or businesses to compete in a fair
and balanced market, and ultimately make a profit
doing so.
During the upcoming year there will be
numerous opportunities for you to become involved
in this process. There will challenges as well as
opportunities facing our members as well as the
community at large.
I encourage you to get involved and participate in
this important process. How do I get involved, you
might ask.
First, educate yourself about issues impacting the
community. Read SAR press releases explaining
how we arrived at our conclusions, and more
importantly why we support or oppose a particular
issue. Volunteer time and actively participate on a
committee. Make an effort to attend a council or
commission meeting, or call an elected official and
inform them of your views on a particular issue.
Actively support individuals who seek elected office,
and of course take time to vote for the candidate(s)
of your choice.
Being involved and participating requires giving
up some of your valuable time to enhance or impact
the direction and future of our community. You
have a choice. You can sit back and let someone
else do this work, or you can become involved and
actively participate in SAR’s governmental activities.
I encourage you to take the chance. Get involved,
participate and enjoy the satisfaction of knowing
you had a hand in determining the future of your
community and your pocketbook!
Impact Fee Update
The Sarasota County Commission on Jan. 23 agreed to delay the immediate implementation of higher
impact fees and instructed county staff to prepare a new study on how the new fees could be implemented
over time rather than all at once.
In addition, commissioners agreed to review the proposed percentage increase of impact fees imposed
on medical office projects and future affordable housing projects.
The Sarasota Association of Realtors® and the Coalition of Business Associations (COBA) requested the
delay in order to have time to meet with county consultants and review projections and formulas used for
the newly proposed impact fees.
Both SAR and COBA have questioned the percentage increase for the new fees and urged the county to
review the formula used by consultants who recommended the increase.
The commission will meet again on Wednesday, March 14th to discuss the issue.
10
February 2007
February 2007
11
Property Appraiser
For more
information,
contact the Property
Appraiser’s office
at 941.861.8200
or visit www.
sarasotaproperty.net
14
Property Tax study focuses on
Homestead Exemption
p
By Jim Todora, MAI, CAE Sarasota County Property Appraiser
Property tax now represents the single largest source of tax revenue in the state of Florida.
Several efforts are underway to study the property tax system. One of these, the Property
Tax Reform Committee filed a preliminary report and recommendations in December 2006.
This 15-member committee, which is expected
to share its findings with the Legislature and the
Taxation and Budget Reform Commission, was
appointed by the Governor in 2006 to discuss
property tax issues and make recommendations
to improve property taxation in the state. Other
than proposing the committee should be allowed
to continue, no specific recommendations are
made in the report. Rather, 12 ideas of exploration
are enumerated.
The majority of these ideas deal with the Homestead
Exemption by either expanding or contracting its
current benefits. Another area involves limiting the
amount of revenue growth that taxing districts can
levy. Yet another suggests actual use-value assessments
of business properties rather than highest and best
use, as required under current law.
Each of these proposals comes with its own set
of complexities and would require significant effort
before workable laws could be crafted. They would
probably require constitutional changes and thus
voter approval before becoming law. It remains to
be seen which, if any, of these ideas gains enough
momentum to work through the process to find its
way to a ballot question.
Limiting growth in taxes would likely be popular
among voters. This idea was fostered after watching
what many felt to be government bodies taking
unfair advantage of the sharp rise in property
values experienced over the past several years. The
thought of use-value appraisals of business property
is intriguing, but so far no one has proposed the
details of how this would work. It would remain
to be seen who would benefit. It could have the
unintended consequence of penalizing competent
property management.
Of the many suggestions made surrounding the
Homestead Exemption the one that gets the most
attention is referred to as “portability.” This would
allow a current Homestead Exempt property owner
to sell their home, purchase another home and
reduce the Assessed Value of it by the amount of
cap differential gained from the previous homestead
February 2007
property found under the Save Our Homes
constitutional provision.
Not waiting for the government to act, a private
concern, Save Our Homes Portability, Inc., was
formed to pursue a voter initiative and place
a question on the ballot seeking to change the
constitution. This group was started by several
Property Appraisers and has been gaining energy.
Under this proposal an owner could sell their
Homestead Exempt property and transfer the
difference between the Just (Market) Value and
Assessed Value at the time of the sale to a newly
acquired property and thus reduce its Assessed Value
by the amount of this differential up to $400,000.
It contains a provision to adjust the $400,000 limit
annually by the change in the CPI and also includes
a control devise limiting the cap differential to 50
percent of the Just Value if the newly purchased
home is less valuable than the sold property.
It is often stated the only thing that is constant is
change. Not long ago properties were selling faster
than they were listed for sale. Property values were
rising at levels unseen before and property taxes
seemed to be following suit. While it stands to
reason that steps would be taken to prevent this type
of tax windfall, with a sluggish real estate market it
might be like closing the barn door after the horse
is gone.
On the other hand, perhaps it is time for
portability. Stimulating a slow market has merit and
could provide numerous benefits. Looking out for
new home buyers, business owners and part time
residence should all be looked at seriously and
reasonably. The lessons learned from allowing
property taxes to escalate at unreasonable levels
should not be forgotten.
Changes to our property tax structure should be
made carefully allowing local government a stable
source of revenue changing rationally. We should
all follow these proposed changes closely so that, if
presented with a question at the ballot box, we will
make an informed choice.
Time2Buy campaign kicks off;
program planned through 2007
t
The Sarasota Association of Realtors® has launched the Time2Buy campaign,
designed to build awareness and improve perception among home buyers that
the time is right to purchase a home in Sarasota.
The
campaign
includes billboards,
airport
signage,
magazine, television,
radio and newspaper
advertisements,
buttons,
press
releases, videos, and
a wide assortment of
other content. All the
material, including
buttons,
articles,
logos, web links and
video, is available to
agents and Brokers
on the SAR web site
and here at the SAR
office. In addition,
2007 SAR President Joe Hembree
we’ve launched a
mini-web site, time2buysarasota.com, to keep everyone
on the cutting edge of the campaign.
SAR encourages our members
to participate in this exciting
opportunity to spread the positive
message about Sarasota real estate.
Here’s how you can join in:
• We have erected four billboards
in various locations around the
area. If your company would
like to sponsor one, we will let
you select which one and have
your company name added to
the bottom as sponsor. Our
cost is $3,000 a month per
billboard because we have a
6-month contract. If we get
more boards, it is possible the
price will decrease.
• We have the slogo artwork
available for you to insert in
your advertising and all your marketing materials.
Visit sarasotarealtors.com/Time2Buy.htm
• We have buttons with the slogo available for all our
members to wear. Just have someone from your office
come by SAR to pick them up. They really help start
conversations with the public, and they are FREE!
• If you would like to sponsor an ad in a magazine or
other publication, we will make the artwork available,
adding your company name as sponsor.
• Put links to our mini-website on your web site, in ads,
and on marketing materials. Great information for the
consumer can be found there: www.time2buysarasota.
com.
• We have a 5-minute streaming video of the video
presentation at the press briefing last week. You can
link to it from your website, or if you would like to
post the video on your site, contact Ray Porter at 3281168 or [email protected].
Continued on page 38
February 2007
15
NAR begins lobbying efforts
as new Congress convenes
t
By Jerry Giovaniello NAR Chief Lobbyist & Senior Vice President of Government Affairs
The 110th Congress hit the ground running in January
and Realtors® are matching their pace stride for stride.
On the very first day of legislative action Realtor® Champion
Representatives Paul E. Kanjorski (D-PA) and Ken Calvert (RCA) introduced H.R. 111, the Community Choice in Real
Estate Act of 2007. The bill has already gathered the support
of more than 100 members of Congress and will continue to
pick-up additional co-sponsors as Congress moves forward.
The change in control of Congress gives Realtors® an
opportunity to work with a new slate of Congressional
leaders and Committee Chairs. For many organizations in
Washington, D.C. the change in control presents a significant
challenge. Since our issues transcend party affiliation and
geography, Realtors® are poised to work with our old friends
in their new positions.
Government Affairs January Meetings
Traditionally Congress spends the month of January dealing
with internal operations rather than considering legislation.
This year, the new Democratic leadership tossed tradition out
the window and began the people’s business immediately. The
early start to the new Congress turned out to be a remarkable
benefit for more than one-thousand Realtors® who attended
the 2007 Government Affairs January Meetings.
Realtor® volunteers serving as fundraising chairs for state
and local associations, members of the Realtors® Political
Involvement Committee, State Association Presidents and
Executive Officers and our Federal Political Coordinators
gathered in Washington, D.C. for a series of specialized
training seminars, panel presentations and addresses from
Senator Ben Nelson (D-NE), Senator Joseph Lieberman (ICT), Congresswoman Maxine Waters (D-CA), Congressman
Marion Berry (D-AR) and Congressman Steve Chabot (ROH).
The Congressional speakers are all members of the Realtor®
Party. They gained membership based on their outstanding
record of support for Realtor® public policy issues on
Capitol Hill, not party affiliation or what state or district
they represent. Each of these Realtor® Party Champions
understands importance of the real estate industry to the
national economy and the importance of homeownership
to building strong and stable communities. They also
understand that Realtors® support their friends all the time,
16
February 2007
not just at election time. One of the most important aspects
of this ongoing support is our strong grassroots program.
Senator Lieberman highlighted the high level of Realtor®
involvement in his 2006 re-election campaign. The
Senator specifically thanked the Connecticut Association of
Realtors® and NAR Political Field Staff who helped ensure
his re-election. While introducing Senator Nelson to the
conference attendees, we displayed a copy of the postcard
sent to Realtors® in Nebraska and viewed the NAR produced
television commercial that ran throughout the state during the
campaign.
Developing Realtor® Party Priorities
The combination of our strong grassroots program and
having the resources available to produce quality materials in
support of our Realtor® Party Champions is what separates
NAR from other organizations. The January Government
Affairs Meeting are also an integral part of making our
programs so effective in promoting and protecting the real
estate at the local, state and federal levels. Realtor® volunteers
travel to Washington to help determine the scope and direction
of our public policy agenda.
This year, for the first time, Realtor® members had the
opportunity to identify and prioritize public policy issues
before arriving in Washington, D.C. The NAR Research staff
polled more than 13,000 Realtor® Members, Association
Executives and industry leaders to determine which issues are
of paramount importance in 2007.
The poll results and the development of a public policy
priority agenda were the topics of a spirited discussion in
a Town Hall meeting moderated by Dale Stinton, NAR’s
Chief Executive Officer. During the Town hall meeting is was
evident that there was a broad consensus that some issues may
not require Realtor® action unless a specific threat develops
during this Congress. Other issues may move up or down
the priority list as a result of Congressional action. Working
together we developed a strong plan of action that will be
reviewed by the NAR Leadership Team in early February.
t
The expanding U.S. economy and an influx of institutional investment capital are keeping
the volume of sales transactions high in the commercial sectors during recent months.
“Institutional investors have returned in a big way,” say NAR economic analysts.
For all the sectors, lending volume
is up and delinquencies are down.
High construction costs are holding
speculative activity in check. Imports
and exports remain at high levels,
sustaining demand in warehouse and
distribution facilities.
Strong corporate profits are giving
businesses the wherewithal to expand
both their factories and their offices.
From an investor perspective, though,
the robust price gains generated from
commercial sales in recent years
will be harder to get going forward.
Investors will have to look for ways to
enhance value, analysts report.
Offices:
A slight upswing in new office
buildings at the end of 2006 kept
the vacancy rate relatively flat, but
with healthy job growth, continuing
healthy absorption levels, and only
moderate speculative development,
the vacancy rate is expected to drop
by the end of 2007.
Vacancy
Rate
Rental
Rate
Change
NET Absorption
2005
9.9%
2.9%
295.8 million (sq. ft.)
2006*
9.7%
1.5%
2007**
9.0%
3.6%
2005
6.2%
2.9%
350,975 (units)
2006*
5.2%
408%
262,762 (units)
2007**
5.3%
5.0%
203,050 (units)
2005
13.6%
5.2%
90.3 million
2006*
13.0%
5.5%
74.5 million
2007**
12.2%
8.3%
70.0 million
2005
7.2%
2.9%
30.5 million
2006*
8.2%
–1.4%
3.9 million
2007**
8.2%
2.6%
16.0 million
Industrial
Multifamily
Office
Retail
Source: NAR Research
UPCOMING CID PROGRAMS
A Continental Breakfast is served at the monthly CID General Membership meetings. Non-members can
attend up to three monthly meetings before membership is required. Thanks to Triple Diamond Commerce Park
for hosting the January meeting, and thanks to our breakfast sponsor, All Risks Limited.
Tuesday, Feb. 20, 8 a.m. – CID General Membership Meeting, at the SAR, Main Auditorium. This will be the
first in a series of Power Pitch Sessions for commercial property listings. CID members are encouraged to use the
Catylist system to create marketing materials for their featured listings for display on the SAR Main Auditorium
projection system during this meeting.
Tuesday, March 20, 8 a.m. – CID General Membership Meeting, at the SAR, Main Auditorium. Topic:
Tax Issues.
Tuesday, April 17, 8 a.m. – CID General Membership Meeting, at the SAR, Main Auditorium. Topic:
Economic Development Update.
Tuesday, May 15, 8 a.m. – CID General Membership Meeting, at the SAR, Main Auditorium. Topic:
Power Pitch Session.
February 2007
Commercial Investment Division
Commercial remains strong
in national overview
17
SOME OF OUR MOST CHERISHED LINKS
ARE THOSE BETWEEN FAMILY AND FRIENDS .
Please ask about our generous realtor incentives.
ANOTHER EXCEPTIONAL COMMUNITY
BY
U.S. ASSETS GROUP |
Broker participation welcomed. Prices, plans, dimensions and specifications subject to change without notice. Void where prohibited by law.
Family. Honour. Tradition.
At The Founders Club, we are nurturing more than the timeless beauty of the landscape
and the time-honoured traditions of a game. We are seeing a community come to life.
A place where the bonds of family and friendship are being forged along our signature
Robert Trent Jones, Jr. golf course, among the spectacular homes, and in our gracious
new clubhouse, Golf Hall. If you believe, as we do, that these are values to be cherished,
we would love for you to join us.
3001 Founders Club Drive, Sarasota, FL 34240
941.378.0900 | TheFoundersClub.com
New homes from the low $1 millions to over $5 million
262 Families | 275 Memberships | 1 Very Exclusive Club
THE
FOUNDERS
CLUB AND
SALES
GALLERY
Sales and Listings for December 2006
Sales Data
Residential Sales Summary
December 1 to December 31, 2006
SALES
2 –
3
BDRMS BDRMS
PRICE
$99,999 & UNDER
4+
CONDO
BDRMS CO-OP
SALES as of
Dec. 31 2006
TOTAL
UNITS
December 2006
Class
Sales
4
1
0
0
5
$100,000-199,999
12
11
1
26
50
$200,000-299,999
11
53
9
24
97
Class
$300,000-399,999
10
24
12
17
63
$400,000-499,999
4
19
13
6
42
Residential 422
Condo
361
$500,000-749,999
3
19
13
18
53
$750,000-999,999
2
3
7
7
19
$1,000,000-1,499,999
1
4
3
3
11
$1,500,000-1,999,999
0
1
4
0
5
Class
$2,000,000-2,499,999
0
0
1
0
1
$2,500,000-2,999,999
0
2
1
0
3
$3,000,000-3,999,999
0
0
3
1
4
Residential 1040
Condo
589
$4,000,000-4,999,999
0
0
0
0
0
$5,000,000-9,999,999
0
0
1
0
1
$10,000,000 & Up
0
0
1
0
1
137
69
102
**TOTALS
47
TOTAL DOLLAR VOLUME
SINGLE FAMILY
$129,371,411
TOTAL DOLLAR VOLUME
CONDOMINIUM
$36,713,995
355
Average Sale Price
Median Sale Price
Sold Volume
$511,349
$359,941
$322,683
$266,500
$129,371,411
$36,713,995
Residential 253
Condo
102
December 2005
Sales
Average Sale Price
Median Sale Price
Sold Volume
$467,747
$797,525
$370,683
$560,000
$197,389,210
$287,906,378
Listings Data
December 2006
New
Average List Price
Median List Price
$647,883
$521,437
$399,849
$372,000
December 2005
Class
New
Average List Price
Median List Price
$639,041
$532,567
$399,900
$375,000
Residential 1238
Condo
705
Note: Statistics are for the entire SAR MLS system. Figures include some
listings in Manatee, Englewood, Venice and other areas.
Average Sale Price/Units Sold /Days On Market
800-
$99,999 & UNDER
700-
SALES
2 –
3
4+
CONDO
BDRMS BDRMS BDRMS CO-OP
SALES as of
Dec. 31 2006
TOTAL
UNITS
650-
550-
36
5
0
14
55
$100,000-199,999
194
178
19
404
795
$200,000-299,999
307
815
105
519
1746
$300,000-399,999
189
544
154
250
1137
$400,000-499,999
97
333
174
126
730
$500,000-749,999
48
341
250
306
945
500-
400-
113
130
183
443
$1,000,000-1,499,999
9
68
65
73
215
$1,500,000-1,999,999
5
20
31
46
102
300-
$2,000,000-2,499,999
1
13
17
22
53
250-
$2,500,000-2,999,999
1
9
18
19
47
200-
$3,000,000-3,999,999
2
5
11
11
29
$4,000,000-4,999,999
0
4
10
4
18
$5,000,000-9,999,999
0
3
14
1
18
$10,000,000 & Up
0
0
4
0
4
906
2451
1002
1978
6337
TOTAL DOLLAR VOLUME
SINGLE FAMILY
$2,148,637,127
TOTAL DOLLAR VOLUME
CONDOMINIUM
$1,026,518,494
TOTAL HOME SALES
DOLLAR VALUE
$3,175,155,621
$467,747
450-
17
**TOTALS
661
600-
350-
$750,000-999,999
$797,525
750-
Year to Date
January 1 to December 31, 2006
PRICE
$791,132,905
$375,459,627
December 2006
850-
Volume Listed
Note: Statistics are for the entire SAR MLS system. Figures include some listings
in Manatee, Englewood, Venice and other areas.
TOTAL HOME SALES
DOLLAR VALUE
$166,085,406
Residential Sales Summary
Volume Listed
$673,798,778
$307,126,239
$392,838
422
500-
$401,704
361
$359,941
298
264
253
150100-
$511,349
135
135
100
92
Dec. ‘04
Dec. ‘05
Dec. ‘06
Dec. ‘04
Residential
Ave. Sale Price
102
110
Dec. ‘05
Dec. ‘06
CondoMINIUM
UNITS SOLD
Days On Market
These statistics were gathered from Sarasota Association of Realtors MLS on January 12, 2006.
20
February 2007
t
2006 was transitional year;
2007 prospects brighter
Sale Price
vs.
List
Price Rates
Percentage of list price units sold
for…
Single Family
January
February
March
April
May
June
July
August
September
October
November
December
2005
96.9%
97.5%
97.9%
97.8%
97.5%
97.6%
97.4%
97.6%
97.2%
97.0%
97.04%
96.77%
2006
95.90%
95.65%
94.22%
95.01%
94.21%
94.72%
93.62%
93.33%
93.45%
92.79%
92.06%
89.73%
Condominium
January
February
March
April
May
June
July
August
September
October
November
December
2005
97.6%
97.7%
97.5%
97.5%
97.8%
97.3%
97.7%
97.3%
97.0%
96.3%
96.15%
97.54%
2006
96.02%
96.54%
95.94%
94.66%
94.82%
93.40%
93.29%
93.11%
92.53%
89.79%
95.09%
91.08%
The national and local real estate
markets, after apparently bottoming out
in the fourth quarter, appear ready for a
gradual rise through 2007 and into 2008,
according to the latest forecasts from
economists with the National Association
of Realtors®.
David Lereah, NAR’s chief economist,
predicts annuals sales of existing homes will
be fairly comparable from 2006 to 2007.
And he noted the steady improvement in
sales will support price appreciation in the
months and years ahead.
“It’s apparent from the data that we
are returning to a more normal market,
and 2007 looks like the beginning of a
buyer’s market in this real estate cycle,”
said Joe Hembree, 2007 SAR President.
“Everyone is aware that there are always
peaks and valleys in real estate, and we
are certainly climbing out of a valley. But
historically, real estate is one of the best
long term investments you can make, and
proves to be a positive, appreciating asset,
helping families achieve financial stability
and wealth.”
All of the indicators point to a leveling
off in the local market, and a return to
normalcy in 2007 after the 2003-2005
boom years. In addition, the current
lull represents a perfect opportunity to
purchase a property in Sarasota, while
interest rates remain near historic
lows, inventory is high and quality is
outstanding, and home sellers seem more
willing to negotiate on price and terms.
One of the indicators of this is the
Sale Price versus List Price statistic,
which shows a gradual trend toward
lower ratios. In 2005, single family homes
and condominiums were selling at
about 97 percent of list. The figure
dropped to about 93 percent in 2006 – a
strong indicator that a buyer’s market is
under way.
While the Sarasota MLS data indicates
the 2006 median prices for single family
homes and condominiums dropped by
3.5 percent and 2.1 percent respectively,
this decline is quite modest when
looking at the bigger picture. In 2004,
the median sale price for a single family
home was $273,000. That figure rose to
$354,500 in 2005. So the 2006 overall
level of $342,000 is still 25.3 percent
higher than in 2004. Condominium
sale prices showed a similar trend, with
a median price of $225,000 in 2004,
jumping to $306,500 in 2005, and
slipping slightly to $300,000 in 2006.
That figure still represents a 33.3 percent
jump over 2004.
Overall sales dropped substantially in
2006 from the overheated markets in
2005, and particularly 2004. Total sales
were 6,381 in 2006, dropping 39 percent
from 2005’s total of 10,463, and more
than 40 percent from 2004’s 11,219.
Looking at the bigger picture, 2006
was the seventh best year in history for
the number of sales in the Sarasota area
as tracked by the Sarasota MLS, topping
all years prior to the year 2000.
However, while overall sales were down,
sales in the $5 million and up range were
up 22 percent in 2006 compared to 2005,
and 83 percent higher than in 2004.
Clearly, the three years of record
appreciation began to take its toll on
overall sales in 2006, and the market
pulled back in the face of escalating
prices, skyrocketing property insurance,
and other negative factors.
But 2007 appears to be the start of a
strong buyer’s market, with numerous
factors revealing a unique opportunity to
purchase property in the Sarasota area.
“We continue to enjoy historically low
mortgage rates in the low 6 percent
range, and our local economy remains
strong, with low unemployment and
solid financial indicators,” said Hembree.
“It’s obvious that we are a destination
location, and the attractions of our
lifestyle, community, culture and climate
will keep Sarasota at the forefront of the
future real estate market.”
Lereah noted, “The current interest
rate environment and housing inventory
levels present a window of opportunity
for potential buyers. With all the wild
projections by academics, Wall Street
analysts and others in the media, it
appears that much of the housing sector
is experiencing a soft landing. Despite the
doomsayers, household wealth will not
evaporate and the economy will not go
into a recession. If you’re in it for the long
haul, housing is a sound investment.”
February 2007
21
Education Programs
Wide assortment of educational offerings available
GRI Course 1: ‘Standards of
Practice’
• Feb. 19-21, 26-28, 2007
• SAR Members: $325
• SAR Non-Members: $ 350
Registration is now open for the GRI Course one
to be offered at SAR February 19-21, 26-28, 2007.
If you are a new salesperson, this course 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). Another
bonus: Counts towards the Code of Ethics training
required by NAR by December 31, 2008.
This GRI course is the most popular course ever
offered by FAR through its Florida Realtor Institute.
The course covers transaction making, legal aspects of
contracts, financing alternatives, tax implications, fair
housing, ethics and more. 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.
Plan on registering for the live course immediately, as
recent GRI courses in Sarasota have filled up quickly
and left with long waiting lists. 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.
GRI Course 2: Online registration for GRI 2—May
22-23, 29-31, 2007 at SAR—is now in progress at
www.sarasotarealtors.com.
SAR’s 2007 Education Calendar is available online
on the homepage of www.sarasotarealtors.com. Look
for it on the left hand side of the page and click on
“2007 Education Calendar.”
Free Technology Training
The following courses will teach you how to use
and benefit from technology programs you
22
February 2007
already have available to you through your Realtor
membership with SAR, SAR MLS, and the Florida
Association of REALTORS
Work smarter in 2007 with
these powerful and improved
technology tools.
MLS Advantage
Learn how to use the powerful, multi-MLS listing
search tool brought to you by Real Estate Industry
Solutions, a wholly owned subsidiary of the Florida
Association of Realtors. Topics include text-based
and map-based searches, saved searches, hot sheets,
creating CMAS, and emailing listings and CMAs to
customers.
• March 19, June 25
• No charge for SAR members; online
registration required.
iMapp
• 9:30 to 11:00 a.m.
• February 26 (date change)
• Frank Coffey, Instructor
• MLS Member benefit—no extra charge
• Registration requested
• www.sarasotarealtors.com
Basic MLXchange – Wednesdays
(Hands-On)
• 9 -11:30 a.m. and 1 to 3:30 p.m.
• February 7 & 21
• MLS Member benefit—no extra charge
• Keith Thatcher, Instructor
• Registration required via “Education Registration”
Advanced MLXchange – Thursdays
(Hands-On)
• 9-11:30 a.m. and 1 to 3:30 p.m.
• February 8 & 22
• Keith Thatcher, Instructor
• Registration required via “Education Registration”
Even More Computer Training
TransactionDesk – (Lecture in
Auditorium)
• March 20, 9 a.m. to Noon
• Members: $25 Non-Members: $35
Amazing technology available at no additional charge
through your Realtor membership! Learn how to create and
manage transactions, share transactions with others, and
follow a Digital signing. Now you can track contacts with
a task list and calendar, all completely integrated with your
TransactionDesk account; work with Forms On-Line Gold;
send and receive fax and email documents right from your
TransactionDesk account. Bring your own laptop!
TransactionDesk – (Hands-On, limit 12
per class)
• March 20, 1:30 to 4:30 p.m.
• Members: $85 Non-Members: $100
Power your success with the only online transaction
manager which includes embedded, interactive forms!
Students learn how to customize settings, create work flows,
create a transaction, learn the powerful online collaboration
tools, work with Forms Online Gold, follow a Digital
Signing, and much more. Bring your own laptop or use an
SAR computer.
international brokerage, networking, marketing and selling.
Credits: Students will receive At Home with Diversity
certification in addition to ABR and CRS elective credit with
successful completion of this revised course.
SPECIAL $150 DISCOUNT OFFER: The complete
series of classes leading to the CIPS designation will be held
at SAR in 2007.
• CIPS International Real Estate for Local Markets March
13-14 ($300)
• CIPS Asia/Pacific, Americas, and Europe April 16-18
($600)
• CIPS Investment and Financial Real Estate June 12-13
($300)
If taken separately, series at SAR costs $1,200. Sign up for
the series all at one time, in advance, for $1,050 and receive
a $150 discount.
Outlook 1
• February 6, 2007
• 9:00 a.m. to 12:00 p.m.
• Cost: $20 (Members) $30 (Non-members)
• Pre-requisite: Students must have a working knowledge
of Windows
Setting up and using Outlook as a contact manager: Server
settings, formatting, archiving, etc. Bring your own laptop!
Intro to Digital Photography
• February 6, 2007
• 1:00 p.m. to 4:00 p.m.
• Cost: $20 (Members) $30 (Non-members)
• Pre-requisite: None
Fundamentals of using a digital camera. Camera components
and settings explained, etc. Bring your own laptop!
CIPS 1: International Real Estate for
Local Markets
• March 13-14, 2007
• 8:30 a.m. - 5:00 p.m.
• SAR Members: $300 if received by 2/ 27, 2007
• $350.00 if received after 2/27, 2007
• Non-SAR Members: $325 if received by 2/ 27, 2007
• Fee includes all course materials, continental breakfasts
and snacks
• Instructor: Marcus A. Wally, MBA, CIPS, ABR
• Approved for 11 hours Florida continuing education in
the “specialty” category
International Real Estate for Local Markets is the two-day
prerequisite introductory course to the CIPS—Certified
International Real Estate Specialist—designation. This
course is an analysis of the international real estate business
environment, including capital flow, currencies, government
regulations and cultures, and discusses the practical aspects of
POWER COURSES
Harnessing the Power of Skills Based
Performance Management
• Instructor: Marcus A. Wally, MBA, CIPS, ABR
• March 28, 2007
• 9 a.m. to 5 p.m.
• Cost: SAR members, $125; Non-members, $150
• Course Credits: Counts as one of the three designation
courses required for the Performance Management
Network Designation (formerly LTG). This is a new
curriculum course and will satisfy the designation
transition for current LTGs; one REBAC elective credit
for ABR designation
Unlock your potential and start the New Year off with a
new attitude! This brand-new course from the NAR REBAC
family will teach you how to harness the power of performance
management skills to challenge yourself, to manage your time
effectively, to build credibility and develop a personal vision.
February 2007
23
Education Programs
Continued from page 23
What separates the best from the rest? The best have systems
not just for their real estate businesses but for themselves.
They have harnessed the power of performance management
skills to challenge themselves, to manage their time effectively,
to build credibility and develop a personal vision. This course
will show you how to eliminate the obstacles that conspire to
prevent you from getting to that next level in your business
and in your life!
Course objectives:
• Know how to recognize and eliminate self-sabotage
• Challenge yourself to expect and achieve more in the
important areas of your life
• Develop a personal vision for your business and other life
areas and gain tools for achievement
• Understand how to minimize resistance to change and
power your performance as a result
Register online for the seminar at www.sarasotarealtors.com,
“education registration.”
The Power of Relationship Selling
• March 7, 2007
• 9 a.m. to Noon
• Cost: $10
• Speaker: Kim Dickey, Professional Sales Trainer and
Motivator
• 3 CE credit hours in the “specialty” category
Back by popular demand! Prove your value by always
knowing your next line. In real estate, the series of excuses
and objections remain as constant has human nature and can
be costly unless we sell with deliberate purpose. In addition,
market shifts and increased competition are impacting both
new and seasoned real estate professionals. This training will
inspire and empower you to communicate and demonstrate
your value. You will learn skills to help you cope with the
current challenging market.
Kim Dickey has over 25 years of sales experience with 12
years in the “For Sale By Owner” field. She is a sales trainer,
motivator and is passionate about helping others succeed. Her
seminar is made possible through the gracious sponsorship of
First American Title.
To download a flyer, go to www.sarasotarealtors.com and
click on the “education” tab at the top of the home page. To
register, click on “education registration” on the right-hand
side of the home page.
The Power of Exchange
• March 22, 2007
• 9 a.m. to Noon
• Cost: $10
• Speaker: Patrice Viscuso, Asset Preservation, Inc.
This accredited class for continuing education credit teaches
introductory concepts, plus goes into more detail on the
background of exchanges. The course also introduces the
student to the exchange variations available to investors, shows
how to use exchanges as a listing and selling tool, illustrates
how to calculate capital gain, and reviews common exchange
terminology and closing procedures.
The Power of Strategy
• March 7, 2007
• 1 to 4 p.m.
• Cost: $10
• Speaker: Patrice Viscuso, Asset Preservation, Inc.
This class assumes the student understands the basics of
exchanging. The class covers advanced topics such as “parking
title” arrangements, provides additional examples and capital
gain tax calculations, and addresses more solutions to investors
in complex situations. This course is often presented to
commercial brokers and tax or legal advisors.
Congratulations!
CONGRATULATIONS!
Dedication and hard work pay off!! We congratulate our members who have completed the requirements for the
National Association of Realtors new certificate program Resort & Second Home Property Specialist (RSPS) and
the Graduate Realtor Institute (GRI) designation:
Resort and Second Home Property Specialist (RSPS)
Tonna Gruber, Keller Williams Realty
Graduate, Realtor Institute (GRI)
Tennie Ann Capps,
Coldwell Banker Residential Real Estate
Daniel Kijner, Suncoast International Realty
Dorathea Sandland, RE/MAX Properties
24
February 2007
Ginger G. Sutton, Capitol Properties and Services
Larisa Trexler, RE/MAX Properties
Tonjah Westerfield, Prudential Palms Realty
Jacuelyn Marie Wood, RE/MAX Properties
The most impressive homesites you’ll ever sell...
welcome your clients to Riv’e Isle.
Southwest Florida’s most exclusive,
one-of-a-kind island community
✓ Gated island estate homesites
❑
✓ Private docks with direct access to the Gulf of Mexico
❑
✓ Secluded harbors & natural wildlife preserve
❑
★
✓ Private golf club with tennis & spa/fitness center
❑
✓ Picturesque River Lodge with kayak & boating facilities
❑
✓ Located within 30 minutes to Sarasota, Tampa & St. Pete
❑
Now Accepting Reser vations
941.776.1729
H o m e s i t e s f r o m t h e $ 3 0 0 ’s
w w w. R i v e I s l e . c o m
MLS FAQ
MLXchange Version 3.0
enhancements coming soon
s
SAR has received great feedback about the new MLXchange system,
and wanted to let you know that the enhancement requests and
additional features you’ve sent in have been compiled. Most, if not all,
will be addressed in MLXchange version 3.0, due out in the second
quarter of 2007.
Browser:
First, there will be no more Active X controls to download, making
the entire system friendlier to other browsers and speeding up response
time. Also at the top of the list, spell check will be added to the listing
maintenance section.
Home Page:
Quick Links to view “Listings about to Expire”, “My Listings”, “Office
Listings”, etc.
Hyperlinks in reports:
Agent codes will link to “Member Report”; Office code will link to “Office
Report”; Tax ID will link to IMAPP tax record.
Listing and Image Maintenance:
Ability to re-order images on the fly; New user interface; Ability to add
comments to each image; Spell Checker added to text and remark fields;
Larger text fields (General Remarks, etc.) will show in multiple lines; CTRL-F
(Find) can be used to locate field labels; Dates can be entered as “1/8/7” and
will automatically convert to proper “01/08/2007”.
Agent Team / Assistant capability:
Listing Agent and Co-Lister will have the same access to all their listings;
Agents can allow other Agents (or assistants) to have access to their listings
and contacts, etc.
Agent Web Page (and prospecting):
Property List Collaboration will be possible between Client and Agent;
Private client view will be password protected; Option to include “My Office
Listings” tab; Agents will have a hit-counter to see how many times their
listings have been viewed using the IDX search.
If you need help, remember the AnswerLink telephone number is 1-888825-5472. Assistants are available and ready to assist you with any questions
or issues you may have. They are there to walk you through the steps you
need to achieve your objective. Problems or bugs are also tracked and added
to the issues list.
26
February 2007
Play time...
Your
YourIsland
IslandPlayground
Playground
Classically manicured golf courses, 38 Har-Tru
tennis courts, luxurious spa & fitness facilities, and
exquisite fine dining. Precious experiences, friends,
and memories - reminiscent of the childhood joy of
having your very own playground. That joy awaits
you, only at Longboat Key Club... your island
playground. It’s time to play!
442 Gulf of Mexico Drive • Longboat Key
www.longboatkeyclub.com
[email protected]
For membership offerings,
please call 941.387.1602
The Official Club & Resort of the Sarasota Film Festival
Rookie Corner
28
Getting started:
The art of property listing
l
Listing is obtaining a written contract from sellers to market and sell their home. Your first
few listings may be noncompetitive (family or friends), but soon you’ll have to interview with
unknown prospects and compete for their listing business with other sales associates. In
order to cinch the listing, you need to impress sellers with your marketing skills and your
ability to get the job done.
Many experts recommend that you gather
information from the sellers prior to a listing
appointment. Call the sellers prior to your appointment,
and ask them a number of questions that will help
you tailor your listing presentation to address their
particular needs and concerns. This technique will
help you set yourself apart from practitioners who
offer a generic presentation.
Based on the information you collect from your
prequalifying conversation, assemble a prelisting
packet that is tailored to the needs of the sellers. The
focus of the prelisting packet should be to establish
your credibility—not to sell.
February 2007
The Prelisting Packet
Your prelisting packet should include:
• Cover letter (remind prospects when you’ll
arrive and how to contact you)
• Outline of your skills
• Personal marketing brochure
• Brief bios of your team members
• Testimonials from past clients (if you have at
least one client under your belt)
• A property disclosure for the sellers to
complete
The Listing Packet
You also may want to add information
about your company, your web site
(if you have one), and other services
that may be available through your
company. Talk to other sales associates
in your office or your broker about
other materials you can add to your
listing packet.
Regardless of whether or not you
compete for a listing, you should have
a strong listing packet to provide to
all potential sellers. At a minimum,
your listing packet should include:
• Comparable market analysis,
along with your analysis of the
The Listing Presentation
property
• Your bio, emphasizing your
Practice is the best way to build
competency
confidence in your listing presentation.
• Detailed marketing plan for the But these tips will help you make a
good first impression.
home
• Break the ice with a
• Explanation of the services you’ll
social conversation on a
provide for your commission
noncontroversial topic.
• Agency disclosure form
• Mirror the sellers’ demeanor—if
• Listing agreement, ready to be
they are formal, follow suit.
signed except for the price and
the terms
• Ask to tour the house first and
take photos. This will help you
gain information you’ll need to
suggest a purchase price and give
you more time to build rapport
with the sellers.
• Review the marketing plan
you’ve prepared and describe the
services you’ll provide.
• Ask open-ended questions and
listen carefully for clues as
to what issues in the sale are
most important to the sellers.
Then adjust your presentation
accordingly.
• Present the listing agreement and
ask for the listing.
• Present the comparative market
analysis and settle on a price for
the home.
City of Sarasota provides
flood plain information
Current flood plain information may
Federal law requires that a flood
be obtained from the City of Sarasota insurance policy be obtained as a
Building, Zoning and Code Enforcement condition of a federally backed mortgage
Department. They can provide the or loan on properties in special flood
following information:
hazard areas (SFHA). There is a 30-day
• Community Number
waiting period before a flood insurance
• Panel Number
• FIRM Suffix
policy takes effect.
City of Sarasota officials are prepared
• Date of the FIRM’s Index
to meet and discuss any flood plain
• The FIRM Zone
(e.g. “A,” “C,” “V,” etc.)
related questions or problems you may
• Base Flood Elevation (BFE)
by calling 954-4127 or by writing to:
• Copies of Elevation Certificates
for those structures that have been
required to provide them.
City of Sarasota, Attention:
encounter. You can reach the department
Zoning
Division, P.O. Box 1058, Sarasota, FL
34230-1058.
February 2007
29
The Sarasota Chapter of
the Women’s Council of Realtors
is celebrating 50 years of success
s
By Michelle Crabtree
Success in business today can be advanced through positive, productive relationships and
our Sarasota Chapter of WCR has a 50-year proven record of success. The Women’s Council
or Realtors® provides an environment of collaboration in which members can form, build and
maximize relationships for business and personal success. When members share their time,
talent and experience, the entire industry is advanced.
10 Secrets to Success
1) How You Think is Everything. Always be
positive. Think success, not failure. Beware
of negative environment.
2) Decide Upon Your True Dreams and Goals.
Write down your specific goals and develop
a plan to reach them.
3) Take Action. Goals are nothing without action
4) Never Stop Learning. Take classes, attend
programs and read books.
5) Be Persistent and Work Hard. Success is a
marathon, not a spring. Never give up.
Are you ready for 2007 and to take advantage of all
that WCR has to offer? Well, get ready, we’re going
to have a fabulous year. Join the Women’s Council of
Realtors today! Any remember, WCR is not just for
women and not just for Realtors, it benefits all in the
real estate profession.
UPCOMING EDUCATIONAL
PROGRAMS & Events
February 9 “Technology in Motion”
Tim Kinsler,
Florida State WCR Technology Chair
Hyatt Sarasota, 11:30 am
March 9
6) Learn to Analyze Details. Get all the fact, all the
input. Learn from your mistakes
7) Focus on Your Time and Money. Don’t let other
people or things distract you.
8) Don’t Be Afraid to Innovate; Be Different.
Following the heard is a sure way to mediocrity.
April 13-15 2007 Mega-Networking Conference
Hyatt Regency Pier 66, Ft. Lauderdale, Fl
May 10
9) Deal and Communicate with People Effectively.
No person is an island. Learn to understand and
motivate others.
10) Be Honest and Dependable; Take Action.
Otherwise, the numbers 1-9 won’t matter.
“Live Rich, Stay Wealthy For Women Only”
Preparing women for their financial future
– valuable information for men and women
Kinneth Himmler, author
Michael’s on East, 11:30 am
Florida State WCR President,
Joint Meeting with Manatee
WCR Chapter Sherri Meadows
Lakewood Ranch Golf &
Country Club, 11:30 am
For reservations contact Steve Goodfriend at
928-708 or email: [email protected]
2007 WCR Officers
President
President-Elect
V.P. of Membership
Treasurer
Recording Secretary
Corresponding Secretary
Michelle Crabtree, Coldwell Banker
Cari Faanes, Re/Max Properties
Janice Litke, Coldwell Banker
Tonna Gruber, Keller Williams Platinum
Cathleen Acosta, Executive Title
Steve Bennion, Al Harris Pest Control
941-724-4663
941-954-5454
941-366-8070
941-556-7070
941-921-3948
941-378-0000
February 2007
31
Membership News
The Association is pleased to welcome these new members!
Designated Realtors®
Beachy, Dave, Beachy Properties
Dowden, Katherine, KD Realty Inc.
Harris, Tina, Florida New Homes Realty Inc
House, Stanley, Dream Quest Realty Group
Johnson, Dennis, White Sands Paradise Realty
Skinner, Lisa, Prine Realty Group LLC
Vervoordt, Lorraine, Lorraine M Vervoordt LLC
New Members
Abaroa, Judith, Century 21 Advantage Allen,
Peggy, Prudential Palms Realty
Aou Boudarga, Sara, John Cannon Homes Inc.
Bartlett, Beth, WEICHERT Realtors On The Key
Bentley, Michael, Century 21 Advantage
Campion, Lanphier, Morton Realty LLC
Coblentz, Susanna, Exit Realty Signature Prop
Dean, Derek, Keller Williams Realty
Early, Peggy, Good Choice Realty
Flippen. Bryan, Michael Saunders & Company
Gollnick, Todd, Horizon Realt
Kingsbury, Pauline, Central Park Realty Corp.
Kis, Sonya, Century 21 Advantage
Larson, Lynn, Horizon Realty
Lunden, Harry, RE/MAX Properties
Mahmud, Rashed, Exit Realty Signature Prop
McDaniel, Byron, Exit Realty Signature Prop
Moyer, Glenn, Century 21 Advantage
Palacios, Alma, Horizon Realty
Petrahl, Donna, Century 21 Advantage
Phillips PA, Elizabeth, Michael Saunders
& Company
Prato, Melanie, RE/MAX Premier Services
Rothschild, Irwin, Exit Creative Realty
Ruzek, Mitchel, Horizon Realty
Saloio, Christina, My Realty Company
Samuels, Carole, Capital Properties & Services
Sas, John, Byrd Realty Inc.
Tressler, Laura, Coldwell Banker Res R E Inc.
Van Dame, Gigi, Keller Williams Realty Weiler
Ruth, Prudential Palms Realty
Westerhouse, Patricia, Lakewood Ranch Comm
Realty LLC
Now With
Arman, Jessika, Horizon Realty
Aubry, Richard, Michael Saunders & Company
Baker, Denise, Century 21 Advantage
Becker, Karen, Dream Quest Realty Group
Betres, Mark, Rooks-Morris Real Estate
Blanck, Brenda, Horizon Realty
32
February 2007
Brissette, Edith, RE/MAX Gulfstream Realty
Butz, Jon, Cagan Brewer Realty
Carns, Stephen, SKY Sotheby’s Intl Realty
Carns, Vanessa, SKY Sotheby’s Intl Realty
Carrington PA, Cristy, Michael Saunders
& Company
Carte, Susan, Premier Properties of SW FL
Cash, Ida, Michael Saunders & Company
Claydon, James, Global Realty Marketing Inc.
Cleland, Douglas, Realty Executives Solutions
Cooper, Kathryn, Prudential Palms Realty
Cowen, Janice, RE/MAX Tropical Sands
Davant, Peggy, SKY Sotheby’s Intl Realty
Flynn, P.A., Ronald, Laughlin’s Luxury Lifestyles
Goodfriend, Barbara, Realty Executives
West Coast
Greene, Richard, Coldwell Banker Res R E Inc.
Hendricks, Gary, Capital Properties & Services
Johnston, Patricia, Horizon Realty
Johnston, Colin, Horizon Realty
Kenney, Jan, The Dewar Group Inc.
La Rue, Judith, Peens Property Group Inc.
Loeffler PA, Cheryl, SKY Sotheby’s Intl Realty
Lowry, Mary Fran, Jennette & Rossi Inc.
McGreevy PA, Brian, RE/MAX Gulfstream Realty
McGuire, Shelley, Charles Rutenberg Realty Inc.
McRae, Julia, Coldwell Banker Res R E Inc.
Mohn, Sondra, Century 21 Advantage
Morse, Thomas, Nathaniel Steele Properties
Paquin, James, Capital Properties & Services
Peischl, Richard, Sarasota Beach Rentals
Perignon, Lydia, Keller Williams Realty
Raven, Mary, Vision Realty of SW FL LLC
Roberts, Carolyn, RE/MAX Tropical Sands
Ryan, Cecilia, Michael Saunders & Company
Sanchez, Astrid, Peens Property Group Inc.
Shere, Barbara, A & D Edwards American Dream
Siegel, Robert, Global Realty Marketing Inc.
Smith, Philip, SKY Sotheby’s Intl Realty
Smith, Elena, Michael Saunders & Company
Stoltzfus, Alph, Real Estate Discovery Inc.
Sublett, Betsy, SKY Sotheby’s Intl Realty
Svenson, Inger, Westcoast Realty of Florida
Tannenbaum, Sharon, RE/MAX
Gulfstream Realty
Taylor, Sheri, Lakewood Ranch Realty LLC
Thomas, Diane, Michael Saunders & Company
Totonis, Charles, Michael Saunders & Company
Tylke, Nubia, Realty Executives Solutions
Weil, Jane, SKY Sotheby’s Intl Realty
Whitfield, Sharon, Premier Properties of SW FL
Whitfield, Keith, Premier Properties of SW FL
von Waldner, Michael, Barry D Edwards & Assoc.
New Affiliate Members
Brown & Brown Inc.
1819 Main Street Ste 315
Sarasota, FL 34236
941-366-5500
Representative: Andrew Baxter
Specialty: Commercial Property & Casualty Insurance
Homebanc
2 N Tamiami Trail Ste 800
Sarasota, FL 34236
941-329-1616
Representative: Brian Trull
Specialty: Mortgage Lender - Helping families achieve
the goal of home ownership since 1985
Insignia Bank
333 North Orange Avenue
Sarasota, FL 34236
941-366-7100
Representative: Charles G Brown
Specialty: Community Bank
Lehman Brothers Bank
8586 Potter Park Drive Ste 120
Sarasota, FL 34238
Phone Number: 941-552-5723
Representative: Gary C Sessions
Specialty: Providing Commerical Real Estate
Loans to Small Businesses and Investors
Our Concierge LLC
PO Box 19408
Sarasota, FL 34238
941-923-2600
Representative: Steven Litwack
Specialty: Providing concierge services to
small hotels and owner of vacation rental units
The Legacy Group
240 S Pineapple Avenue #803
Sarasota, FL 34236
941-870-0072
Representative: Bobby Whitley
Specialty: Retirement/Financial planning for Realtors
Marc Mansfield named as new SAR
Governmental Affairs Director
Marc Mansfield was recently hired as the Governmental
Affairs Director for the Sarasota Association of Realtors®.
Prior to joining SAR, he served as President/CEO
for several different chambers of commerce in Iowa,
Minnesota and Florida, most recently at the Siesta Key
Chamber of Commerce.
Marc started his career as a teacher and coach and
later served as a Town Manager, Economic Development
Planner and Director of Redevelopment for the City of
Muncie, Indiana.
He has also served as a registered lobbyist for the
Marshalltown Area Chamber of Commerce (IA) and the
Duluth Area Chamber of Commerce (MN). Marc has
lobbied at the local, state and national level and has worked
on numerous business issues throughout his career.
Marc has a B.S. degree in Education and a Masters Degree
in Political Science from Ball State University in Muncie,
Indiana. He is also a veteran of the U.S. Marine Corps.
Marc and his wife, Sandra, moved to Sarasota County in
October 2005 when he accepted the position of President/
CEO for the Siesta Key chamber.
Marc Mansfield
February 2007
33
Ethics in Action
34
Realtor® did not violate
Article 16 by soliciting listing
a
A property was exclusively listed with Realtor® A, who advertised it widely and invited
cooperation from other Realtors®. The property was not sold during the term of Realtor®
A’s listing, although both Realtor® A and Realtor® B, a cooperating broker, had shown the
property to prospects.
Sometime after the expiration of Realtor® A’s
listing, newspaper advertisements appeared
indicating that the property was exclusively listed
with Realtor® B. Shortly thereafter, the property was
sold by Realtor® B.
Realtor® A confirmed that it was listed with Realtor®
B and then charged Realtor® B in having failed to
respect his exclusive agency status with the client
by soliciting the listing. The Grievance Committee
referred the complaint for hearing by a Hearing Panel
of the Professional Standards Committee.
Upon due notice to the parties, a hearing on
the complaint was called with Realtors® A and
B present. Realtor® A’s specific charge was that
Realtor® B knew that the client had originally listed
the property with him, Realtor® A, because he had
discussed the property with Realtor® B during the
term of the original listing contract; that during the
term of Realtor® A’s listing, Realtor® B had shown
the property to the same individual who had now
purchased the property through Realtor® B; and that
with this knowledge Realtor® B’s action in soliciting
the listing, even after it had expired, was a violation
of Article 16.
Realtor® A told the Hearing Panel that when he
had asked for an extension of the original exclusive
listing, the client told him that because of a family
problem he intended to take the property off the
market for a few months, but would consider relisting
at a later date.
Realtor® B conceded that he had known of
Realtor® A’s exclusive listing at the time the listing
contract was current; that he had known the term
of the listing contract and, hence, knew when it
expired; and that he had shown the property to the
individual who eventually purchased it.
However, he explained, he had no continued
contact with the prospect to whom he had originally
February 2007
shown the property. After the expiration date of
Realtor® A’s listing, he was approached by the
individual to whom he had originally shown the
property and who was still actively interested in
purchasing a home.
In reviewing the purchaser’s stated requirements
and reviewing the market, the property in question
seemed to correspond more closely than any other
available properties.
Knowing that the original listing with Realtor® A
had expired some time ago, Realtor® B simply called
the owner to ask if the property had been relisted
with Realtor® A. Upon learning that Realtor® A’s
exclusive listing had not been extended, Realtor® B
told the owner of his prospective buyer, solicited the
listing, and obtained it.
Realtor® B said he saw nothing unethical in having
solicited the listing when it was no longer exclusively
listed with another broker and felt that Realtor® A
was without grounds for complaint.
The panel concluded that it was not the intent of
Article 16 to provide any extended or continuing
claim to a client by a Realtor® following the
expiration of a listing agreement between the client
and the Realtor®.
The panel concluded that Realtor® A had not been
successful in his efforts to sell the client’s property
and that neither the property owner nor other
Realtors® should be foreclosed from entering into a
new listing agreement to sell the property.
The panel concluded that Realtor® B was not in
violation of Article 16 of the Code of Ethics.
- Case #16-5: Solicitation of Expired Exclusive Listing
(Reaffirmed Case #21-11 May, 1988. Transferred to
Article 16 November 1994. Revised April 1996.)
Salon National de L‘Immobilier
slated March 22-25 in Paris
l
Looking for new and innovative ways to distinguish yourself with your sellers? How about being able to
tell them that you will be showcasing their property listing at a major international real estate expo in
Paris, France?
For $100 per listing you can showcase your clients’
property and/or your services on a CD that will be
distributed to the public and French real estate professionals.
If you purchase three spots for listings, we will give you a
fourth spot to insert a Realtor profile and biography page
to promote yourself to the European audience, or an
additional property.
The Salon National de L’Immobilier, sponsored by
FNAIM (the French equivalent of NAR), will be held
at the Palais de Congres, Porte Maillot, Paris, France,
March22-25, 2007. It is one of the largest real estate trade
shows in Europe, and the biggest sponsored by FNAIM.
SAR has leased booth space at the expo and will
have representatives there to hand out the CDs to the
participants. In 2006, SAR distributed 3,000 CDs at the
same expo.
This will be an unparalleled opportunity to showcase
your “place in the sun” properties to an affluent market.
Applications for the CD promotion are available at
sarasotarealtors.com. You can also call Louise Tessier, 2664514, or Felix Power, 2006 President, Sarasota Association
of Realtors, 349- 4411.
Power, SAR CEO Kathy Roberts, former SAR President
Judy Schomaker and Daniel Kijner visited Paris for
last year’s FNAIM conference, to further a cooperative
agreement inked in October 2005 between SAR, the Paris
real estate organization, and Ile de France, a French real
estate trade association. The pact is designed to expose the
local area to brokers and investors in France, and further
the aim of opening a new international market for local
Realtors® to explore.
February 2007
35
i
SIMA07 coming up in late May
If you are a Realtor® who specializes in second
homes and/or international real estate, you
have probably already heard of SIMA, the largest
international second homes expo in the world. This
event has a four-year track record with NAR as
a key collaborating organization, and this year is
slated May 29 through June 2.
The feedback from members across the U.S. and the
world is that it was an excellent venue to do business in
the international second home market. The information,
education, contacts, and exhibits have resulted in tangible and
profitable international business for international attendees,
including several visitors from Sarasota.
This year, SIMA 2007 will once again be fully endorsed
by the National Association of Realtors® and its
collaborating organizations to ensure that the event is Realtor®friendly, including:
- Education and seminars with relevant topics, including
international second home topics and courses such as the
transnational referral certification (TRC)
- Targeted networking via the Realtor®-sponsored
international business center (IBC), with cocktails, meeting
Two skyscrapers dominate the Plaza d’Esplaña, the Torre de
space, and country-specific networking hours with the purpose
Madrid
and the Edificio de Espana in picturesque Madrid, Spain.
of networking and doing business.
- Fun! Above all, the event is designed with fun in mind, Why SIMA?
with the purpose of creating camaraderie and memories with
SIMA is the largest international second homes expo in the
your professional colleagues that will lay the groundwork for
future deal-making across borders. This event is the perfect world, with more than 140,000 visitors and 700 booths. Its
visitors include more than 15,000 real estate professionals,
venue to combine business and pleasure in 2007.
with over 1,000 of these professionals attending from over 40
Why Madrid, Spain?
countries around the world.
You will need a full day just to walk the exhibition trade
Spain, known as the “Florida of Europe”, is an ideal
show
floor, where you can make contacts as well as learn
laboratory to address the international second homes market
how
Spain
markets its second homes to the world. The full
where over 100,000 second homes are sold to foreigners
professional
program has speakers from all over the world
annually to buyers from Europe, North/South America and
on
topics
relevant
to Realtors® with simultaneous translation
Africa/Middle East.
available.
These international buyers and investors in Spain may also
When you need to rest and relax, as a Realtor® attendee you
be interested in second homes in the U.S. as an alternative
to Spain. U.S. homes are a better investment because of the will have exclusive access to the International Business Center
(IBC) complete with computers, meeting rooms, and a bar
strength of the Euro versus the U.S. dollar.
and sitting area. Country networking hours and sponsored
Spain is one of the most visited countries in the world,
cocktails at the IBC are designed to connect you with the
drawing visitors and real estate buyers from across the players internationally.
globe. At the center of Spain is Madrid, a truly international
When the evening arrives, unique and fun social activities are
capital with direct flights to dozens of cities in the U.S.
planned
with networking and camaraderie in mind. You are
and Europe. The city is cosmopolitan, safe, and has a truly
European ambience with historical neighborhoods on tree- encouraged to bring plenty of business cards and brochures;
lined cobblestone streets, sidewalk cafes, and world-famous you will wish you had brought more! For more information
museums, restaurants, and shopping. Make Madrid your base about SIMA, visit the website.
Go to http://www.sima2007.org/ for more information.
to conduct other side trips in Europe.
36
February 2007
t
International
Real Estate
By Thomas C. Roberge, CPA, Sarasota and St. Petersburg
The start of the New Year marks the start of the selling season. With that, we thought it
would be a good idea to review some of the points you should be aware of when handling
sales for foreign investors who do not want to wait until well into 2008 to receive a refund for
part or all of their 10 percent IRS withholding tax.
A non-U.S. seller can apply for relief from the 10
percent withholding when the actual tax is less than 10
percent of the gross sales price. The benefit to the seller
in applying for relief is that it can get part or all of the
10 percent to him or her in the shortest amount of time.
We are already seeing an increase in the number of people
applying for relief from the 10 percent withholding in
2007 because of current market conditions.
The application must be filed between the time the
sales contract is signed and the date of the closing. If
the application is filed after the closing date (even by
one day), the entire 10 percent must be remitted to the
IRS and the seller must wait until the following year to
file an income tax return for a refund.
When the application is timely filed, the 10 percent
is held in escrow until the IRS processes the application
and grants relief. At such time part or all of the escrowed
funds are remitted to the seller.
The sellers and buyers must have U.S. tax identification
numbers; otherwise, the IRS will not accept and
process the application. If either the buyer or seller
does not have one of these numbers, our firm is an
Acceptance Agent for the IRS and has the ability to
obtain these numbers.
Each year our firm processes numerous applications
for relief from the 10 percent withholding for non-U.S.
sellers. The rules in this area are detailed and specialized,
and should only be handled by someone experienced in
dealing with international tax matters before the IRS.
- Copyright, 2007, Thomas C. Roberge & Company,
All Rights Reserved
How to work with the new wave of
Canadian buyers
On March 15, the Sarasota Association of Realtors®
will present a seminar on working with Canadian
investors. Recent political and economic changes have
once again made Florida real estate a popular investment
vehicle for Canadians.
This program will explain these changes and how it will
offer you opportunities when working with Canadian
investors. Even though we speak the same language, the
multi-cultural differences between the U.S. and Canada
present unique challenges and opportunities to the real
estate community. Being aware (or unaware) of these
differences can make a huge difference in closing (or
losing) a potential real estate transaction.
International Real Estate
Guidelines for foreign sellers
applying for relief from the
10 percent withholding
SAR will present four speakers who are well qualified in
this area. Andrew Bismuth, a local international Realtor®
from Canada, is going to explain these differences
and how to better deal with the Canadian market.
Renea Glendinning, CPA, will explain the income
tax considerations to be aware of with Canadians. A
Sarasota international banker will explain how to
establish banking relations for Canadians. This is most
important since effectively dealing with U.S. banks is
one of the biggest complaints we continually hear about
from Canadians.
Registration fee: $10 (SAR members) ($20 others).
February 2007
37
Time2Buy
Commercial Overview
If you have more ideas, we would love to hear them.
We are committed to spreading positive news via area
media outlets. Our message is simple. If you have missed
an earlier opportunity to purchase a home, now is the
time to take advantage of low interest rates, stabilizing
home prices, and a plentiful inventory of homes. Your
participation can compound our efforts.
The public and media launch was held Thursday,
Jan. 11, 2007, and a large contingent of local Brokers
and media representatives packed the SAR auditorium.
Future press releases will be supplied to the various local
media outlets, and offered through SAR electronic and
print communications.
The campaign focuses on information not often
reported in the local and national media, including:
• Historically low mortgage rates still in the low 6
percent range;
• An abundant, high-quality inventory of homes and
condominiums;
Industrial:
A shortage of properties suitable for traditional and inland
ports is fueling an uptick in build-to-suit facilities for warehouse
and distribution. The conversion of some older industrial
properties to mixed-use and residential purposes is also keeping
inventories down and rents up. Vacancy rates are forecast to
maintain the steady down trend they’ve seen since early 2004.
Rents are expected to increase slightly.
Retail:
Only a few years ago retail was an investor favorite, but
these days regional shopping centers and neighborhood centers
alike are suffering from store closures and softening consumer
confidence. On the upside, personal income is rising, and retail
sales have been solid. Retail vacancy rates are likely to rise slightly
in 2007. Average retail rent is forecast to increase marginally.
Multifamily:
The apartment market is strengthening as potential home
buyers remain in rental housing and echo boomers enter the
rental market. New supply is matching absorption, keeping
vacancy rates flat.
• A strong local economy, with low unemployment
and solid financial statistics;
• The current sustainable pace of sales, which means
a return to normalcy in the market following the
2003-2005 real estate “boom”;
• Stabilization of pending sales, also a sign of normalcy
returning;
• An upturn in affordability, which helps the current
rental market consider home ownership;
• The fact that real estate is a cyclical industry, with
peaks and valleys, but historically always a positive,
appreciating investment in the long term;
• The continuing Baby Boomer phenomenon, which
is predicted to bring millions of additional retirees
to the state, and tens of thousands to the area in the
next 25 years.
In addition, the campaign promotes the message
that the Sarasota area is always a great place to buy
real estate, because of this area’s incredible climate,
natural beauty, cultural resources, top-notch educational
system, bountiful amenities, diverse lifestyle choices,
and tremendous family and business communities.
38
February 2007
WORLD CLASS PRINTING AND PUBLISHING
Home of COLORLINE,
World Class Post Cards,
Business Cards and Brochures
for the Real Estate Industry
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.
Baskerville/Swirles/Ward.. 5
Opteum Financial............ 30
Dakkak Insurance........... 39
Orchid Beach Club............. 3
The Forest........................ 2
The Founders Club..... 18-19
Rivé Isle......................... 25
Longboat Key Club.......... 27
Serbin Printing, Inc.......... 38
Mackinac Savings Bank... 29
Wicker Beach............. 12-13
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
Monday, Feb. 5, through Friday, March 16, 2007
Tuesday
5
9:00 a.m. & 1:00 p.m.
MLXchange
General Training
9:00 a.m. & 2:30 p.m.
New Members
Wednesday
6
7
8:30 a.m.
CID Board of Directors
1:00 p.m.
MLXchange
General Training
12
13
9:00 a.m. – 4:00 p.m.
New Member Orientation
9:00 a.m. & 2:30 p.m.
New Members
20
8:30 a.m.
CID General
Membership Meeting
8:00 a.m. – 5:00 p.m.
GRI 1
26
8:00 a.m. – 5:00 p.m.
GRI 1
9:00 a.m. & 2:30 p.m.
New Members
9:30 a.m. – 11:00 a.m.
iMapp Training
8:00 a.m.
MLS Zone 1
9:00 a.m. & 1:00 p.m.
MLXchange Advanced
Hands On Training
9:00 a.m. & 1:00 p.m.
MLXchange
General Training
14
9:00 a.m. & 2:30 p.m.
New Members
19
SAR Office Closed
for Holiday
Open Only
8:00 a.m. – 5:00 p.m.
for GR 1
7:30 a.m. – 9:00 a.m.
WCR Toastmasters
9:00 a.m. & 1:00 p.m.
MLXchange Basic
Hands On Training
9:00 a.m. & 2:30 p.m.
New Members
8:00 a.m. – 5:00 p.m.
GRI 1
Classes are conducted every
other week on the new
MLXchange system. Please visit
www.sarasotarealtors.com and
click on Education Registration for
the latest class dates and times.
16
9:00 a.m.
New Members
22
8:00 a.m.
MLS Zone 3
9:00 a.m. & 1:00 p.m.
MLXchange Advanced
Hands On Training
8:00 a.m. – 5:00 p.m.
GRI 1
9:00 a.m. & 2:30 p.m.
New Members
9
15
21
28
Friday
9:00 a.m.
New Members
9:00 a.m.
MLXchange
General Training
8:00 a.m.
MLS Zone 2
7:30 a.m. – 9:00 a.m.
WCR Toastmasters
8:00 a.m. – 5:00 p.m.
GRI
9:00 a.m. & 1:00 p.m.
MLXchange Basic
Hands On Training
9:00 a.m. & 2:30 p.m.
New Members
27
Thursday
8
23
9:00 a.m. & 2:30 p.m.
New Members
March 1
8:00 a.m.
MLS Zone 1
PRSRT STD
U.S. POSTAGE
PAID
MANASOTA, FL
PERMIT NO. 451
Monday
Ongoing MLXchange
Training:
2
9:00 a.m.
New Members
For more information on Educational Programs, please see pages 24 - 26
6
8:30 a.m.
CID Board of Directors
12
9:00 a.m. – 4:00 p.m.
New Member Orientation
9:00 a.m. & 2:30 p.m.
New Members
13
8:30 a.m. – 5:00 p.m.
CIPS-Local Markets
7
7:30 a.m. – 9:00 a.m.
WCR Toastmasters
9:30 a.m. – 12:00 p.m.
Power of Relationship
Selling
9:00 a.m. & 2:30 p.m.
New Members
8
8:00 a.m.
MLS Zone 2
14
8:30 a.m. – 5:00 p.m.
CIPS-Local Markets
9:00 a.m. & 2:30 p.m.
New Members
9
9:00 a.m.
New Members
15
8:00 a.m.
MLS Zone 3
16
9:00 a.m.
New Members
Sarasota Association of Realtors®, Inc.
3590 S. Tuttle Ave.
Sarasota, FL 34239
5

CID: Your key to success - Realtor Association of Sarasota and

Transcription

Similar documents

welcome to 31 rachett road

Royal LePage Dynamic Real Estate Brochure

Master Money Mentor - UF/IFAS Sarasota County Extension

Will Malizia - C3 Real Estate Solutions

It`s All About You! - Greater Lansing Association of Realtors

Reading an MLS Listing

Team Whitehead - Coldwell Banker Premier Homes

PenFed Realty LLC

The Real News You Can Use! - Cumberland County Board of

MountainChalet