Austin REALTOR® July/August 2011 Issue

Transcription

We’re Working For You
September/October 2011
Powerful
AdvocacY:
What the NAR Dues
Increase Means to You
al
Annu p
30th Round U
y
R e a lt
cks
a
hb 80
s
Fla the
to
11
Oc to be r 26 , 20
m Ins id e
ra
og
Pr
t
en
Ev
INSIDE:
ABoR Fights Against Over-Regulation
in Short-Term Rental Arena
Fusion MLS Update: New Features
Legal Topics: Dealing with Lender
Required Repairs Under TREC Contracts
this issue
chairman’s corner
industry news education government affairs mls update member spotlight ethics case study legal topics facts and figures in the news Volume 18 ∙ Issue 5 ∙ September/October 2011
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The Austin REALTOR® is published
bi-monthly by the Austin Board of
REALTORS®, 10900 Stonelake Blvd., Suite
A-100, Austin, Texas 78759-5826, 512454-7636. Should you wish to receive
this publication electronically, update your
preferences in the “My Account” section
of Abor.com. Members are encouraged
to submit articles, announcements and
ideas to [email protected]. Deadline
for submission is the 10th of the month
prior to publication date. For advertising
information, visit Abor.com; information is
available in the “About ABoR” section.
Editor
Angela Brutsché, CAE
14
Assistant Editor
Angela Diaz
Powerful advocacy:
What the NAR Dues Increase
Means to You
Graphic Designer
Stephanie Toal
Contributing Editors
Stan Martin, MLS
Anna Kong & Christina Ortiz,
Government Affairs
Kate Voth, Marketing
Sally B. Yaryan, Education
17
AYREP Program Delivers Insights on the
Future of Central Texas
18
Key Points to Remember When Using
Video as a Marketing Tool
19
30th Annual Realty Round Up:
Flashback to the 80s Event Program
23
REALTORS® Get Techy at WCAoR
Tech Tune Up
25
Kick Off Safety Month by Staying
Informed and Empowered
27
The Value of Working with REALTORS®
Promoted Around Austin
29
This Organization is Not “About You”—It Is You
Find us on
30
Re alt yth An nu al
Ro un d
Up
Flashbacks
to the 80
O ct
Ev en
ob
t P roer 26 ,
gr am 20 11
In si
de
Copyright © 2011
Austin Board of realtors®
All rights reserved.
Cover Image:
©BigStockPhoto.com/jojji2002 & RobWilson
2 Austin REALTOR
®
DIAMOND CLUB MEMBERS
Diamond Club participants volunteer additional financial support to the Association’s programs.
Please remember them when doing business, and always use an Affiliate first.
Austin REALTOR®
3
2011 Board of Directors
2011 Officers
Chairman of the Board
Judith Bundschuh
Catalyst Realty
P: 512-329-5581
F: 866-872-2607
[email protected]
Chairman-Elect
Leonard Guerrero
J.B. Goodwin, REALTORS®
P: 512-502-7800
F: 346-3711
[email protected]
Secretary/Treasurer
Kevin Scanlan
Quantum Leap Realty
P: 512-775-3846
F: 263-0109
[email protected]
Immediate Past Chairman
John Horton
John Horton Realty
P: 512-834-1600
F: 834-2234
[email protected]
Interim President & CEO
Benny McMahan
Austin Board of REALTORS®
P: 512-454-7636
F: 454-5369
[email protected]
2011 directors
David Burton
Horizon Realty
P: 512-342-1800
F: 532-0986
[email protected]
Marcus Cox
Avalar Austin
P: 512-610-5000
F: 381-8873
[email protected]
Janet Murdock
J.B. Goodwin, REALTORS®
P: 512-502-7800
F: 372-7426
[email protected]
Jeanne Butterfield
Avalar Austin
P: 512-610-5000
F: 381-8873
[email protected]
Helen Edwards
Coldwell Banker United,
REALTORS®
P: 512-691-1960
F: 691-1990
[email protected]
Julie Potts
Hill Country Property
Management
P: 512-346-3309
F: 346-2359
[email protected]
Cathy Coneway
Stanberry & Associates
P: 512-327-9310
F: 327-3644
[email protected]
Bill Evans
Austin Real Pros, REALTORS®
P: 512-458-3730
F: 458-3736
[email protected]
Sharon Rosshirt
Stanberry & Associates
P: 512-327-9310
F: 327-3644
[email protected]
Barb Cooper
Coldwell Banker United,
REALTORS®
P: 512-343-7500
F: 233-2851
[email protected]
Aaron Farmer
Texas Discount Realty
P: 512-323-0400
F: 857-0151
[email protected]
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4 Austin REALTOR
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chairman’s corner
As a Board, we are facing the end
of our fiscal year to raise funds
for the Texas Real Estate Political
Action Committee (TREPAC),
which runs from October 1, 2010
through September 30, 2011.
In every legislative session,
there is some major threat to
our industry. Thankfully, because
of our strong Political Action
Committee (PAC) at the state and federal levels, REALTORS®
have been able to dodge harmful legislation. As a Board of
REALTORS®, we need to do our part. Unfortunately, despite
the tireless efforts of our committee over the last few years,
we have not met our fundraising goals for TREPAC. The
committee needs your help to reach our goals, as doing
so will benefit all members. If you have not invested your
fair share in TREPAC, please consider doing so before
September 30, 2011.
I would like to take this opportunity to thank the volunteers of
the ABoR PAC for their efforts to reach out to all of you, so that
all of us are protected from legislation that would negatively
impact our business and harm private property rights.
Susan Horton is the chairman of the
committee this year, and she has worked
very diligently with the PAC to reach our
goal. I know Susan is committed to TREPAC
because if we didn’t have a strong PAC at
the local, state and federal levels, REALTORS® would not
enjoy the same kind of industry we do now.
Bill Evans is our vice chairman for the PAC.
If you have seen Bill recently, there is no
doubt he has asked you for an investment
in TREPAC or discussed with you the
reasons why REALTORS® should invest.
Our TREPAC Trustees David
Burton and Sytha Minter
have been committed to
raising funds for TREPAC for
years and also work with the
ABoR PAC to meet our goals.
Susan, Bill, David and Sytha are working with several
members of the PAC. A list of committee members can be
found on page 11. Thank you for all of your hard work!
A special thanks to all who understand the importance
of investing in your industry. Your investments are both
appreciated and vital to protecting the real estate industry
and private property rights.
RPAC President’s
Circle
Bill Evans
Shannon King
Mark Minchew
Golden R $5,000+
Austin Board of
REALTORS®
Bill Evans
Mark Minchew
Crystal R $2,500+
John Horton
Jim Smith
ABoR Diamond R
$1,500+
Betty Ann Teague
Sterling R
$1,000+
Sandy Bednar
Judith Bundschuh
David Burton
Socar ChatmonThomas
Jamie Dougherty
Helen Edwards
Terry Godbold
Jay Gohil
Earl Hairston
Frank Harren
Susan Horton
Shannon King
Herbert Martinez
Sytha Minter
James Parham
Tom Stacy
Bill Stanberry
Joe Stewart
Robert Wright
Carrie York ABOR Speakers
Circle $750+
Scott Stevens
Capitol Club
$500+
Gloria ArroyoRichardson
Cathy Coneway
Gene Cook
Carol Dochen
Anita Farrell
Eugene Frederick
Leonard Guerrero
Thomas Jackson
Leola Lamb
Dolise McClure
Carrie Weikert
Andria White
I invest for the same reasons these REALTORS® give to
TREPAC. I know that there could be legislation passed at
any moment that would completely change our business.
I love what I do, and I want to maintain my profession by
protecting my business and my clients from bad legislation.
If a transfer tax were to pass or if banks were allowed in
real estate brokerage, I am sure that my business would
change dramatically—to the point that it may not be
recognizable. I don’t want that to happen, and I am sure
you don’t want that to happen to you either. There is plenty
of information about why we should invest in TREPAC, what
is at stake and what amazing successes we have had on
ABoR’s TREPAC webpage at www.abor.com/trepac. For
more information, please feel free to contact me or ABoR’s
Political Action Committee at [email protected] to learn more.
Take the time to thank those volunteers who are helping
us keep our businesses going by working so hard to raise
those TREPAC funds, and consider giving your fair share.
If you have already made your investment—thank you! It is
insurance for your business.
Judith Bundschuh
2011 Chairman of the Board
Austin REALTOR®
5
industry news
The 2011 Texas REALTORS®
Convention and Trade Expo is
in just a few days. Hosted in
our hometown, the convention
will provide a variety of careerrefreshing opportunities, including more than 50 hours of
cutting-edge MCE courses, a number of networking and
referral-building opportunities and exclusive specials on the
latest REALTOR®-specific products and services. The event is
scheduled for September 9–14 and will be primarily hosted
at the Austin Convention Center, located at 500 E. Cesar
Chavez St., Austin, Texas 78701. If you haven’t registered for
this year’s convention, submit your registration form today at
www.texasrealtorsconvention.com. You don’t want to miss
this revitalizing, six-day event.
Special Events
The Austin Board of REALTORS® will support a variety of
events, including The Best of Texas Chairman’s Installation
dinner and reception on September 11 at 7:00 p.m.,
where ABoR Past Chairman Joe Stewart will be installed
as the 2011 TAR Chairman of the Board. ABoR will also
show our support at the Convention Welcome Reception
at Scholz Garten on September 12 from 6:30–8:00 p.m.,
located at 1607 San Jacinto Blvd., Austin, Texas 78701.
Another exciting event is the September 10 Road Trip
to Progress and Profits Downtown Austin Mixed-Use
Bus Tour. The guided tour will highlight Austin’s most
unique commercial and mixed-use developments,
including Seaholm Redevelopment Project, Spring
Condominiums, Burt-Watts
corporate headquarters, Waller
Creek Tunnel Project and the ACL
Live Theater. Additionally, Austin
Mayor Lee Leffingwell will be
in attendance to address the
group. The $20 registration
fee also provides you with a
tasty barbeque lunch from
The Salt Lick. Hop on the
bus tour by reserving
your seat today on the
Convention and Trade
Expo registration form.
6 Austin REALTOR
®
TREC Implements New Laws at
August Meeting
The Texas Real Estate Commission (TREC) passed
emergency rules regarding several aspects of SB 747,
which contains multiple requirements that affect agents
and brokers, including:
• decreasing the time you’re allowed to renew your
license after the deadline;
• requiring certain brokerages to file a new form;
• altering the experience requirements to obtain a
broker’s license;
• mandating a license to perform certain propertymanagement functions; and
• amending the verbiage for a broker price opinion.
Rules Proposed by TREC
TREC is also proposing other rules related to laws passed
during the 82nd Texas Legislature, which entail:
• creating a point system in order to determine if an
applicant for a broker’s license has an adequate
amount of “active experience” to qualify; and
• applying new broker-responsibility requirements to
a broker who sponsors a salesperson, a designated
broker of a business entity or a license holder who
is a delegated supervisor of one or more license
holders for six months or more during the course of
the current license.
For more details about these and other changes, including
the effective dates, download the TAR Summary of Senate
Bill 747 form at www.texasrealtors.com/go/legal/
SenateBill747.pdf.
Register for NAR REALTORS®
Conference and Expo: Seize the Day
NAR is gearing up for this year’s Conference and Expo in
Anaheim, California. Over 18,000 REALTORS® are expected
to attend this exciting conference, which is loaded with
educational sessions, inspirational speeches, special
events, networking opportunities and more. This is one
conference you’ll want to attend, especially since members
who attended in 2010 made an average of $23,521 more
a year than those who didn’t attend. Register for the 2011
NAR Convention and Expo
today at www.realtor.org/
convention.nsf to advance
your profession.
Photo © iStockPhoto.com/narvikk
State-wide
REALTOR®
Convention
Coming to Austin
Monthly REALTOR® Store Winners Announced
ABoR’s REALTOR® Store is the place you go to find the tools you need to
successfully operate your business. If you haven’t heard already, making a
purchase enters you into a monthly drawing for a basket full of REALTOR®specific items. That’s right—just enter your business card into the drawing when
you make a purchase, and you could be the next lucky winner!
Congratulations to June’s basket winner Suzie Gole of Keller Williams Realty
who is pictured with her son, Josh Gole, and Chester Wilson of the J. Roberts &
Company, who took home the prize in July.
Nominate Colleagues for
Annual Industry Awards
Prime Your Leadership Skills at the
2012 Leadership Academy
The Austin Board of REALTORS® is now accepting
nominations for the 2011 Industry Awards. Take the time
to recognize REALTORS® who have made outstanding
contributions to our industry or the community. Nomination
categories include REALTOR® of the Year, Affiliate of the
Year, REALTOR® Community Service Award, Salesperson of
the Year, Rookie of the Year and Cultural Awareness Award.
Submit your nomination at www.abor.com/indyawards by
September 14 to promote your exemplary colleagues who
are working hard to advance our business.
Recharge your leadership skills and take your career to the
next level at ABoR’s 2012 Leadership Academy. The eightweek course will feature in-depth, specialized sessions,
including spokesperson training, planning for success,
creating balance and diversity among us. The Leadership
Academy will kick-off the course at the Hyatt Regency Lost
Pines Resort and Spa on January 19, 2012 and will run
through May 10, 2012. The cost for each student is $375,
and anticipated NAR scholarship opportunities will be
made available to applicants from the following groups:
• Austin Young Real Estate Professionals (AYREP);
• Non-profit Association of Hispanic-American Real
Estate Professionals (NAHREP);
• Asian Real Estate Professionals;
• Certified Residential Specialist;
• Women’s Council of REALTORS® (WCR);
• Central Texas Commercial Association of REALTORS®;
• Certified Commercial Investment Member; and
• National Association of Residential Property Managers.
Book Your Room Today for the 2012
Installation & Awards Celebration Gala
Join ABoR at the 2012 Installation and Awards Celebration
Gala to honor incoming Chairman of the Board Leonard
Guerrero, the 2012 Directors and Officers, as well as the
2011 Industry Award winners. Scheduled for December
2, this premier, end-of-the-year event will be hosted at
the Hyatt Regency Lost Pines Resort and Spa, located at
575 Hyatt Lost Pines Road, Lost Pines, Texas 78612. This
exciting event is expected to draw many members of the
Austin real estate community, so be sure to purchase your
ticket in advance.
The Hyatt Regency Lost Pines Resort and Spa has a
discounted ABoR rate and some great weekend excursion
packages. Reserve your room before they’re sold out by
visiting bit.ly/p1jCTj.
Tickets cost $40 and will be available for purchase until
November 23 or until tickets sell out. Visit www.abor.
com/installation to reserve your ticket and transportation.
For more details regarding this event, contact Shirley
Williams in ABoR’s Education Department at swilliams@
abor.com or 512-454-7636. Partnerships are available
until October 3. Visit www.abor.com/installation/
PartnerForm.pdf for more information.
Don’t let this career-building opportunity pass you by. Apply
for the 2012 Leadership Academy by November 30 at
www.abor.com/leadershipacademy.
Small Office REALTORS® Meetings
Set for September and October
Join the Small Office REALTORS® (SOR) for upcoming
meetings on Monday, September 26 and Monday,
October 24. Presenter Shara Parker, Marketing Specialist
at Mortgage IQ, will discuss simple steps to achieving
technology success at the meeting in September. In
October, attorney Theresa de Alejandro and Senior Escrow
Officer Cherri Spradling of the Austin Title Company will
discuss important tips on how to avoid and identify real
estate fraud. Both meetings will take place from 11:45
a.m. to 1:00 p.m. in the ABoR Auditorium. For more
information, contact Sharon Anderson at 512-474-2204.
Austin REALTOR®
7
educational courses
and upcoming events
September
2
5
New Member Orientation ABoR Offices Closed
8:45 − 11:00 a.m.
Labor Day
ABoR Auditorium
15
23
30
MLS Participation Fees
Due
Lunch and Learn
11:00 a.m. − 1:00 p.m.
ABoR Auditorium
Deadline to contribute to
2011 TREPAC
For more information visit,
www.abor.com/trepac.
October
sUN
mONDAY
2
3
tUESDAY
4
6
11
12
ABoR Offices Closed
Staff Training
17
18
19
CCIM CI103: User
Decision Analysis
for Commercial
Investment
(5-day course)
24
13
14
15
TREC Ethics MCE
8:30 a.m. − 12:00 p.m.
Reduce Risk,
Increase
Performance
8:30 a.m. − 5:30 p.m.
TREC Legal
Update MCE
25
26
For more information
visit, www.abor.com/
roundup.
31
20
(TREPAC Investment)
9:00 a.m. − 12:30 p.m.
21
22
28
29
(South Location)
30th Annual
Realty Round Up
Flashback to the 80s
30
8
Seize the Power
of Your MLS
Subscription
1:30 − 4:30 p.m.
visit, www.ccim.com/
education/course/
CI103/CI1031124.
23
7
sATurday
REALTOR® Code
of Ethics: Your
Promise of
Professionalism
1:00 − 4:00 p.m.
TREC Legal
Update MCE
1:00 − 4:30 p.m.
16
fRIDAY
New Member
Orientation
8:45 − 11:00 a.m.
ABoR Auditorium
To RSVP, contact the
Education Department
at 512-454-7636.
Just Facebook
1:00 − 4:00 p.m.
10
5
tHURSDAY
Broker/
Manager Forum
2:00 − 4:00 p.m.
GRI1: Real Estate
Finance
(4-day course)
8:30 a.m. − 5:30 p.m.
9
wEDNESDAY
27
Lunch and Learn
11:00 a.m. − 1:00 p.m.
ABoR Auditorium
Registration Information:
Register for courses at www.abor.com/education, by contacting Rita Barousse at
[email protected] or at 512-454-7636, ext. 1602. Members who require special
assistance should allow five days advance notice.
8 Austin REALTOR
®
November
sUN
mONDAY
tUESDAY
7
tHURSDAY
2
TREC Ethics MCE
8:30 a.m. − 12:00 p.m.
Sales Skills
After Tax Analysis of New Member
Workshop
Property Income
Orientation
8:30 a.m. − 6:30 p.m. 8:30 a.m. − 2:30 p.m. 8:45 − 11:00 a.m.
ABoR Auditorium
8
9
15
16
3
fRIDAY
1
TREC Legal
Update MCE
1:00 − 4:30 p.m.
6
wEDNESDAY
4
10
11
17
18
sAT
5
12
GRI2: Real Estate
Marketing
(4-day course)
8:30 a.m. − 5:30 p.m.
13
14
CCIM CI Intro:
Introduction to
Commercial
Investment Real
Estate (2-day course)
TAMU Real Estate
Lunch and Learn
Center: Instructor
11:00 a.m. − 1:00 p.m.
Training Course
ABoR Auditorium
8:30 a.m. − 5:00 p.m.
19
TREC Ethics MCE
(TREPAC Investment)
9:00 a.m. − 12:30 p.m.
visit, www.recenter.
tamu.edu/register.
visit, www.ccim.com/
education/course/
CIINTR/CIINTR9343.
MLXchange Advanced
Features & CMA
1:30 − 4:30 p.m.
(South Location)
20
27
21
28
22
29
23
30
ZipForm: What You
Need to Know
8:30 − 11:30 a.m.
What’s New and
How Do I Use It?
12:30 − 3:30 p.m.
24
25
ABoR Offices Closed
Thanksgiving
ABoR Offices Closed
Thanksgiving
26
Course descriptions can be found online at www.abor.
com/courses/mce_coursecatalog.cfm.
Follow ABoR Education (@ABoR_Education) on
Twitter for the latest MCE news and updates.
Reduce Your Chance of Risk:
Review the Top 26 Disclosures
Learn the Key to Counseling
Buyers on September 16
On September 15, join Marcie Roggow for the Case of
the Missing Disclosures, a six-hour interactive course that
reviews the 26 disclosures that could or should be made in
a real estate transaction. Ranging from agency to zoning,
Roggow will review sample risk management forms specific
to Texas. You don’t want to miss this class, which was
awarded the 2005 Texas Large Board course of the year.
Register today at www.abor.com/courses.
The average agent spends seven hours preparing for
the listing presentation to sellers; however, agents rarely
spend this amount of time with the buyer when reviewing
agency disclosure. Both the buyer and seller need to have
the same information. Learn how to prepare both parties
for the transaction at Will the Real Buyers’ Agent Please
Stand Up on September 16. This course is lead by Marcie
Roggow and designed to teach REALTORS® how to prepare
buyers for a sale, just as agents do with the seller in a
listing presentation. Visit www.abor.com/courses to sign-up
for this course and increase your professional knowledge.
Austin REALTOR®
9
government affairs
ABoR Fights Against Over-Regulation
in Short-Term Rental Arena
Have You Responded to NAR’s Calls
for Action?
The Austin Board of REALTORS® Government Affairs
Committee and staff are working hard to protect the rights
of homeowners to rent their properties regardless of the
length of the lease. Austin attracts an increasing number
of visitors each year, resulting in a growing demand for
alternatives to hotels and motels. Short-term residential
rentals (STRs) fulfill this unique market demand and
provide a source of income for property owners struggling
to make mortgage payments, sell a home or find qualified
long-term renters.
The National Association of REALTORS® has two Calls for
Action (CFA) active right now. One addresses FHA and
GSE loan limits and the other long-term extension of the
National Flood Insurance Program (NFIP). FHA and GSE
loan limits and the NFIP are set to expire on September
30, 2011, which will create more uncertainty and
instability in an already fragile housing market. We cannot
let this happen. Visit www.realtoractioncenter.com to
send a letter to your Congressmen.
ABoR Continues to Support WTP4
Despite New Scrutiny
There is no denying that Water Treatment Plant 4 (WTP4)
was a major factor in the outcome of the May City Council
Election and runoff in June. With a new City Council
majority opposing the decision to build the plant, the
construction of Water Treatment Plant 4 is under new
scrutiny. On July 28, the Austin City Council voted to
approve a resolution directing city staff to study
the potential costs associated with a five-year and
10-year postponement of the plant construction.
Despite the renewed controversy surrounding the
plant, the Austin Board of REALTORS® continues
to support the immediate construction of
WTP4 in order to secure a safe, adequate
water supply for current and future growth
in Austin’s northwest Desired Development
Zone. At the July 28 City Council meeting,
ABoR Government Affairs Committee Vice
Chair Brandy Guthrie reiterated ABoR’s
support of the Council’s decision to
build the plant now.
10 Austin REALTOR
®
FHA Loan Limits
Without Congressional action, FHA and GSE loan limits
will drop on September 30, with an average decline of
more than $68,000. If this happens, many of your clients
run the risk of being priced out of the American Dream of
home ownership. Many homes now under contract will not
be able to close after September 30 if loan limits drop.
Even worse, this could hold back the housing recovery.
Responding to the CFA allows you to contact your elected
officials with the click of a button and urge them to
make the current mortgage loan limits for FHA and GSEs
permanent.
National Flood Insurance Program
NAR estimates that 1,300 sales a day could stall if the
NFIP expires on September 30. On July 12, the U.S. House
of Representatives passed a 5-year reauthorization of the
program. The Call for Action is still live because we need
the Senate to do the same. Maintaining available and
affordable flood insurance for all Americans who need it is
vital to keeping the market running smoothly. Over 20,000
communities nationwide depend on this program in order
to buy and sell real estate.
The Austin Board of REALTORS®’ year-to-date participation
rate in NAR’s Calls for Action is 6.15 percent. We need
your help to improve ABoR’s response rate and get the
attention of Congress. Take action now if you have not
already done so, and forward the Call for Action to your
colleagues and clients by using the “refer a friend” tool.
Congress is scheduled to return on September 7 and will
have to act immediately to prevent a lowering of the loan
limits and a lapse in the NFIP.
2011 TREPAC Fundraising Year
Ends September 30
Thank you to the 2011 Political Action
Committee for your hard work and leadership
this year to preserve and protect private
property rights and the real estate industry.
Photo © 123rf.com/David Gilder
After participating in the Planning Commission’s working
group on STR public policy, ABoR is reaching out to Austin
City Council members, the Austin Neighborhoods Council
and other stakeholders in an effort to defeat an ordinance
that would impose licensing requirements, registration
fees and density restrictions on homeowners wishing to
lease their homes for less than 30 days. Municipalities
across the state face similar STR ordinances that infringe
upon private property rights. ABoR will continue to
collaborate with stakeholders and utilize all resources
offered by the Texas Association of REALTORS® to fight
overregulation of this emerging enterprise. To see ABoR’s
full policy statement on short-term rentals, visit www.abor.
com/gov_affairs/home.cfm.
Without our perseverance, REALTORS® wouldn’t be able
to elect public officials who support our issues. We had a
very successful legislative session and it was largely due
to the efforts made by TREPAC. If you haven’t invested yet,
it’s not too late. Visit www.abor.com/trepac to make your
investment today.
Thank you to the following people for your hard work and
leadership this year.
2011 Political Action Committee
• PAC Chair Susan Horton of John Horton Realty
• PAC Vice Chair Bill Evans of Austin Real Pros, REALTORS®
• TREPAC Trustee David Burton of Horizon Realty
• TREPAC Trustee Sytha Minterof Horizon Realty
• Erin Bara of Realty Austin
• Sonny Bara of Realty Austin
• Socar Chatmon-Thomas of Elegant Estates by Auction, PLR
• Marie Dang-Schwartz of Realty Austin
• Deborah Dawson of Keller Williams Realty
• Pam Drawbaugh of Austin City Living
• Henry Ervin of Century 21 HSK & Associates
• Debbie Fontenette of Keller Williams Realty
• Elton Goddard of EXIT Superior Realty
• Jill Marsh of Keller Williams Realty
• Karen McCarty of Keller Williams Realty
• Dolise McClure of Realty World-Neal Barnes
• Ryan Saunders of Texstar Austin Realty
• Stephen Smith of Neuhaus Realty Group
• Anna Kong, ABoR Staff Liaison
• Earl Hairston, ABoR Staff Executive
ABoR TREPAC Movie Night
ABoR TREPAC investors were treated with
celebrity status at the sold-out ABoR TREPAC
Movie Night on June 30. iPic Theaters rolled
out the red carpet with a pre-screening party,
cocktails and gourmet hors d’oeuvres in the
new Salt Lounge. Guests were then invited to
a private screening of Bad Teacher, where they
received goodie bags, dinner and dessert.
Above Left: Crystal R Investor Jim Smith of the Property Management Company and
Sterling R Investor Pam Drawbaugh of Austin City Living relax in comfort and style in iPic’s
Premium Plus seating.
Above Right: Golden R Investor Mark Minchew of RE/MAX Austin Associates and Crystal
R Investor John Horton of John Horton Realty mingle at the impromptu after-party in the
Salt Lounge.
REALTOR® Night with the
Round Rock Express
It was family night at the ABoR TREPAC
REALTOR® Night with the Round Rock Express.
More than 80 ABoR members, family, friends
and clients enjoyed a tailgate party and Round
Rock Express game, raising $2,000 for TREPAC.
Kick-off the 2012 Fundraising
Year at Realty Round Up
2012 PAC Chair Bill Evans invites all $110+
TREPAC investors from the 2011 and 2012
fundraising year to join him at the ABoR TREPAC
VIP Lava Lounge at Realty Round Up. We’re
starting the year off with an 80s chill pill. Invest
$110 or more before October 26 to ensure that
you make the list. It’s just that easy.
Above Left: Thank you to Jim Smith and Jim Moran of The Property Management Company for hosting the tailgate party. Pictured are Bill Evans of Austin Real Pros, REALTORS®,
Rosa Prevost of John Horton Realty, Jim Moran, Dolise McClure of Realty World-Neal
Barnes, Susan Horton of John Horton Realty, Beth Ann Cook, John Horton of John Horton
Realty, Pam Drawbaugh of Austin City Living and Jim Smith.
Above Right: Thank you Ross Greenstein of Summit Mayflower for being a TREPAC advertiser for the event. He is pictured with his wife Patty.
More photos of TREPAC events
are available on Facebook.
Austin REALTOR®
11
mls update
MLS Participation Fees Due
September 15
The MLS system is a key resource that equips REALTORS®
with the necessary tools to successfully serve clients in
buying and selling real estate. Submit your semi-annual
participation fees by September 15 to avoid interruptions
with the vital MLS system.
Now, your MLS subscription provides you with much more
than basic MLS access, including a variety of tools and
services like Fusion MLS, ABoR Mobile MLS, Mobile Edit,
ValueMap, ListHub and free MLS training courses.
Making your payment by the September 15 deadline will
prevent late fees or reinstatement fees. You should have
received your invoice in mid-August. For more details,
contact ABoR’s Membership Department at membership@
abor.com or 512-454-7636.
Fusion MLS Update: New Features
In mid-September, Fusion MLS will receive its 5.4 upgrade
with features such as bulk image upload and customizable
client activity notifications. Fusion is a new cross-browser
MLS system being developed by CoreLogic MarketLinx.
The Austin Board of REALTORS® served as a beta test
site for this product, and over 100 members participated
in the development process. Now available to all ACTRIS
subscribers, Fusion has attracted more than 1,200
users since January. The system is accessible on both
Mac and PC computers and uses the same database as
MLXchange, giving you access to saved searches and
contacts in both systems. It is also accessibe on Firefox
and Google Chrome internet browsers.
The 5.4 update expected in September includes the
product’s remaining core functionality that you need for
your business, including the ability to upload attachments
and export data or images. With the September upgrade,
you can also upload multiple images at once, saving you
valuable time when entering listings. On your home page,
the new “Recent Website Activity” gadget displays contact
website activity and allows agents to receive customized
email notifications when a contact adds a note; marks
listings as a favorite, possibility or reject; saves a search;
or when a new account is created.
Login to Fusion using your MLS username and password
by clicking on the “Access Fusion” link found in the lefthand navigation on the Abor.com homepage. Fusion users
are encouraged to submit feedback in the FusionMLS
12 Austin REALTOR
®
online Learning
Community
at http://
communities.
abor.com/COP/
FusionMLS/ or
by contacting the MLS
support team at mlssupport@
abor.com or 512-454-7636. Complimentary
Fusion training is available every Monday from 9 to
11 a.m. at ABoR’s office in Auditorium C. Any member is
welcome to attend, and registration isn’t necessary.
Fusion is among several MLS systems being reviewed by
the ACTRIS Advisory Committee as we approach the end of
our contract with the current MLS vendor. The Committee
is expected to make a recommendation to the ABoR Board
of Directors later this year.
Mobile MLS Expands Lease Fields
If you haven’t looked at Lease listings in Mobile MLS lately,
check it out. Some important fields that were missing
are now available, such as Possession Date, Bonus,
Application Fee, Lockbox Type, Occupant Info, Pets and
Deposit. Users of iPhones have also reported improved
experiences.
Since the launch of Mobile MLS, the additional search tool
Mobile Edit is now available to members. Keep reading to
learn more about the products.
Mobile MLS
• Includes map search
• Login with Abor.com credentials (password is
lowercase)
• Can be saved as a bookmark or on your home screen
by selecting the “Remember Me” option
• Contact Information: 406-542-9955 or mlssupport@
abor.com
• A Goomzee product
Mobile Edit
• Ability to edit list price, status and expiration date
• Login with MLS credentials (password is lowercase)
• Login screen can be saved as a bookmark or to your
home screen
• Contact Information: 866-776-0661 or mlssupport@
abor.com
• A Corelogic product
For mobile phone access, visit www.abor.com/mobile for
links to both mobile options.
Protect Your Business, Attend the
Real Estate Security Workshop
Computer security breaches can be costly to your
company and harmful to your professional brand,
affecting customer trust and future business. Protect
yourself and your clients at a free one-day workshop
on September 29 from 10:00 a.m.– 3:00 p.m. at
ABoR, hosted by ABoR and the National Association of
REALTORS®.
Participants will learn valuable real-world lessons
from field experience discussions lead by instructor
Matt Cohen, who has helped establish Clareity as
the leading real estate information security auditing
company.
The workshop will review a variety of topics that will
be beneficial for brokers, agents and their IT staff.
The first part of the workshop is suited for everyone
regardless of technical expertise, while the second
half gradually becomes more technical. A free lunch
will be provided to all participants.
Boost your computer security skills at this informative
workshop. Register today at http://conta.cc/nvLESb.
Get the Most from Your MLS with
Free Training Opportunities
Weekly CoreLogic Products Training
Your MLS subscription includes access to CoreLogic
products, such as Fusion, Data Co-op and Mobile
Edit. Learn how to use these tools to improve your
business and take full advantage of your MLS
subscription at free basic training sessions, offered
at ABoR’s office every Monday from 9 to 11 a.m. in
Auditorium C. Registration is not required to attend.
Online Training
Have you discovered all the benefits of your MLS
membership, such as Mobile MLS, Mobile Edit,
RealtyTrac, ListHub and Realty Connect? Do you need
a little guidance in learning what these products do,
and how to make them work for you? Utilize webinars
and video tutorials for support information by visiting
our Online Training Opportunities page at www.abor.
com/mls/webinars.cfm.
The Austin Board of REALTORS®
thanks
Champions School of Real Estate
for sponsoring the August
New Member Orientations
Austin REALTOR®
13
Powerful advocacy:
What the NAR Dues Increase Means to You
The National Association of REALTORS® (NAR) Board
of Directors passed a bold initiative in May of this year
to boost the advocacy power of our organization on
the national, state and local level. The REALTOR® Party
Initiative emerged in response to the monumental
challenges that face the real estate industry in Congress,
which could be detrimental to your business and the way
you serve your clients. The partnership between NAR, the
Texas Association of REALTORS® and the Austin Board of
REALTORS® will equip REALTORS® to effectively share their
expertise about the industry and advocate for the rights
of the nation’s homeowners. A collective approach will aid
our industry in producing and maintaining a successful
business environment. The new initiative will be financially
supported by a $40 NAR dues increase, which means
National REALTOR® dues will now cost approximately $155
per year including assessments.
How will funds be used?
Through a dues increase, NAR will provide direct funding
and grants to help state and local associations enhance
advocacy effectiveness through:
• REALTOR® mobilization: This includes additional
resources for state and local associations for RPAC
fundraising, such as online grassroots advocacy tools;
RPAC management and online fundraising software
and consulting; a broker involvement program is also
planned.
• State and local issues: Funds will be allocated to
provide significantly increased support for TAR and
ABoR issues campaigns.
• Campaign services: This will entail consultant
use, combined with voter data files, data storage
and polling to provide customized and targeted
communications to REALTORS® and registered voters.
• State and local candidate campaigns: NAR will
allocate funds to each state based on a per-member
formula to be used for state and local independent
expenditure campaigns. State associations will work
with local associations to determine how independent
expenditure funds will be shared.
Is my TREPAC investment
still necessary?
Yes. Your investment is very important. Investing in your
industry through TREPAC is still necessary to ensure
14 Austin REALTOR
®
REALTOR®-friendly advocates are elected. Local and state
REALTOR® organizations are prohibited from using the
funds generated by the dues increase to make campaign
contributions directly to candidates.
To review frequently asked questions and answers about
the REALTOR® Party Initiative, visit www.abor.com/gov_
affairs/NARDues.cfm.
What Do You Receive for
Your Member Dues?
As a result of the NAR dues increase, you may be asking
yourself—what do I get for my membership dollars? In
today’s economic climate, we understand that every dollar
counts.
Each year, ABoR collects membership dues for our
national, state and lcoal REALTOR® associations.
• NAR membership: $155 (including assessments)
• TAR membership: $112
• ABoR membership: $125
So, what do you get for your hard-earned money?
NAR Member Dues
• Making REALTOR® Issues Heard: NAR advocates for the
REALTOR® Party to ensure the common goal of protecting
private property rights, keeping housing affordable in
America, in addition to guaranteeing a healthy business
environment for the real estate industry.
• Enhancing REALTOR® Knowledge: REALTORS® can
stay abreast of current topics and real estate industry
news through a variety of online articles, press
releases, radio shows, as well as through free online
reports, research and market statistics.
• Advocating the REALTOR® Message: NAR has a
public awareness campaign that helps consumers
understand the importance of working with a
REALTOR®. The campaign is comprised of 2,000
television advertisements and 5,000 radio spots
annually that advocate for REALTORS® and
homeownership.
• Supporting REALTORS® at the State and Local
Level: Through the REALTOR® Party Initiative, NAR
now provides targeted state and local real estate
homeownership advocacy. In fact, two-thirds of the
initiative is dedicated to programs and services that
state and local REALTOR® associations can access to
harness the grassroots efforts to increase members’
political participation, and overall, enhance advocacy
effectiveness.
Service
Public Awareness Campaign
Cost to You
Value
Included
$35/yr
REALTOR® Party Initiative
Included
$40/yr
Government Affairs, Political Affairs, Economics and Research, Regulatory Affairs, RPAC and
Public Affairs
Included
$28/yr
Second Century Initiatives: REALTORS® Property Resource™, HouseLogic, Real Estate Today Radio, new real estate domain and Commercial (eProperty Data)
Included
$18/yr
All other NAR Services: Legal, Communications, International Policy, Commercial, Education,
Marketing, Affinity Partners, Business Specialties and Wholly Owned Subsidiaries and Center for
REALTOR® Technology
Included
$34/yr
Total (dues and assessments)
$155/yr
$155/yr
For more details about what you receive for your NAR membership, visit www.realtor.org/about_nar/member_reference_guide/dues.
TAR Membership Dues
• Voicing REALTOR® Issues in Government: TAR focuses
governmental efforts on advocating for legislation
beneficial to real estate professionals, combating
legislation that could be costly to your business and
protecting private property rights.
• Providing Free Legal Service: Members receive free
access to the TAR Legal Hotline, which connects
members to an attorney who can provide information
on real estate and related matters. You can reach
the TAR Legal Hotline at 1-800-873-9155, Monday
through Friday, from 8:30 a.m.–4:30 p.m. Additional
services include free online legal publications and free
downloads for model office policies.
• Increasing REALTOR® Knowledge: The Texas
REALTORS® University offers a variety of courses for
MCE credit, online MCE courses, in addition to the
designation Graduate REALTOR® Institute and the
Texas Affordable Housing Specialist certification.
Service
• Supplying Contracts, Forms and Forms Software: A
large online library of Texas real estate specific forms,
contracts and addenda are available to members
for free. In addition, members have free access to
zipForm, the forms management software that allows
REALTORS® the freedom to work with forms on your
computer or on the Internet.
• Networking Opportunities: The annual TAR Convention
and Trade Expo supplies members with countless networking
opportunities, not to mention to the large variety of
MCE sessions, business meetings and special events.
• Negotiating Discounts: TAR offers a multitude of
member discounts on business services, clothing,
hotel rooms, car rentals, appliances and more. To
review a full list of discounts, visit www.texasrealtors.
com/MR/Benefits/Discounts/Index.cfm.
Cost to You
Value
zipForm with TREC library
Included
$179.90/yr
TAR Forms
Included
*
Spanish translation of forms
Included
*
DNC Sentry do-not-call compliance software
Included
$120/yr
MongoFax (fax-to-e-mail service)
Included
$30–$169.50/yr
Texas REALTOR® magazine
Included
$25/yr
Legal hotline
Included
*
Research reports on homebuyers, sellers and Texas REALTORS®
Included
$250/yr
Housing Trends eNewsletter
Included
$359.40/yr
Marketing fliers for seller and buyer prospects (English and Spanish)
Included
*
$112
$964.30/yr
Total
* Not available to nonmembers at any price. Learn more about the value of your TAR membership at www.texasrealtors.com/mr/
benefits/all.cfm.
Membership Dollars continues on the next page.
Austin REALTOR®
15
ABoR Membership Dues
• Promoting REALTORS®: A portion of your dues goes
towards promotion of REALTORS® and the housing
market through public relations and advertisements.
Additionally, ABoR garners more than $250,000
annual editorial media coverage that positively impacts
consumer perception of REALTORS® and the local
housing market. Results of the campaign can be found
at www.abor.com/news_media/PublicAwareness/
PerceptionStudy.pdf. Your dues incorporates
advertisements that promote REALTORS® in a total of:
– 34 print publications;
– 1,824 television spots;
– 2,369 radio ads;
– 25 billboards; and
– numerous online advertisements.
• Upholding the Code of Ethics: You receive access
to arbitration and mediation services, as well as
promotion of the Code of Ethics, which supports better
business practices.
• Advocating the REALTOR® Message: Your membership
dues include political advocacy on a local level. ABoR
communicates the REALTOR® perspective with legislators
in Austin and Travis County.
• Advancing REALTOR® Knowledge: ABoR is focused on
reducing your business risk and keeping you informed
about industry updates. Our publications are comprised
of Legal Topics, ethics case studies and real estate
industry news. You also receive ABoR’s bi-monthly
Austin REALTOR® magazine, monthly Austin REALTOR®
Online magazine, quarterly Broker Insider, quarterly
ACTRIS Bulletin, Inman News feed, social media
outreach and ABoR.com updates.
• Managing REALTOR® Business: ABoR helps you
manage business with a member service Help Line,
Seller’s Disclosure forms, discounted products at the
REALTOR® store and resources including:
– account access via Abor.com;
– REALTOR® logo downloads;
– a tech hotline;
– monthly RealtyTrac Foreclosure reports; and
– monthly housing marketing statistics.
• Additional Services: ABoR negotiated heavily
discounted RealtyTrac Foreclosure Service tools for
members at the monthly rate of $19.95. Discounted
pricing is also available for more than 30 different
types of mandatory continuing education (MCE) courses
each year. Unlimited MCE is available to members at
a packaged rate of $99 per year through the purchase
of an Academy Card. In addition, ABoR delivers
extraordinary programs that include Realty Round Up,
Broker Forums and an annual Housing Forecast.
Service
Ad campaign to promote REALTORS
®
Cost to You
Value
Included
$35/yr
FREE client fact sheets and brochures
Included
*
Promoting REALTORS® and properties on AustinHomeSearch.com
Included
$10/yr
Arbitration and mediation services
Included
$11/yr
Promoting the REALTOR® Code of Ethics
Included
*
Effective political representation with local government
Included
$30/yr
Communicating REALTOR® perspective with legislators in Austin and Travis County
Included
$200/yr
Publications and Abor.com
Included
$20/yr
Access to online REALTOR communities
Included
*
Networking and educational programs
Included
$17/yr
Free office visits upon request
Included
$5/yr
Help Line (member service call center)
Included
$15/yr
ABoR Seller’s Disclosure Forms
Included
*
REALTOR Store
Included
*
Additional resources: easy account access via Abor.com, accessible logo downloads, convenient
tech hotline, monthly RealtyTrac Foreclosure Report and monthly housing market statistics
Included
$4/yr
$125/year
$347/yr
®
®
Total
* Special services available only to ABoR members. See how we compare to other associations across the country at www.abor.com/
about_abor/pdf/Compare.pdf.
16 Austin REALTOR
®
Memberships Provide Valuable Resources to REALTORS®
We are proud to represent you and the real estate industry.
Your NAR, TAR and ABoR memberships include imperative
REALTOR® governmental advocacy, key real estate services,
tools and forms, education, advertising campaigns
promoting real estate and REALTORS®, limitless networking
opportunities and so much more. Each month, we work in
the spirit of improving our service to you and doing our part
to help you succeed.
The NAR dues increase will enhance the advocacy power of
REALTORS® around the nation. Through these added funds,
REALTORS® can strengthen and leverage our collective voice
in support of sound public policy on property rights and
homeowner issues on a national, state and local level.
AYREP Program Delivers Insights on the Future
of Central Texas
Thanks to an outstanding program hosted by the Austin
Young Real Estate Professionals (AYREP), agents received
beneficial details about local real estate issues from
representatives of the Austin Chamber of Commerce,
Community Impact News and the Texas Association of
REALTORS® (TAR). The July 20 event featured a panel
discussion on prominent real estate issues and future
growth within the Greater Austin-area. Speakers addressed
hot topics, including population increases, real estate
development and private property rights.
“More companies have Austin on their radars as a
potential place to expand,” said David Porter, senior
vice president of Economic Development for the Austin
Chamber of Commerce, “Companies in the high-tech and
financial industries are drawn to Austin.” Porter
recommended that real estate professionals pay particular
attention to California-based companies that have a
presence in Austin. Porter also foresees a shortage in the
high-tech labor market.
Laura Gass, Vice President and COO of TAR, said “Congress
Avenue is becoming known as the Main Street of Texas.
While that’s extremely exciting, there are issues that come
along with the growth we’re experiencing downtown.”
Gass also informed the crowd about how TAR helped
protect homeowner rights by supporting an Eminent
Domain bill, which successfully passed during the 2011
Legislative session.
Journalists from Community Impact graciously shared
updates on real estate development projects throughout
Austin, Pflugerville, Cedar Park and Round Rock.
In addition to talking on multi-family and
neighborhood development, the news team
discussed progress on the development of the
Formula One race track, Alamo Drafthouse,
Schlitterbahn and the Round Rock Sports
Complex. Community Impact journalists also
presented insights about the debate involving
short-term home rentals.
AYREP will host their next program, Fashion Show
and Casino Night Charity Event, on September 21,
2011 at Monte Vista Condominiums. Benefiting
Hospice Austin, the event will begin with a cocktail
hour at 5:30 p.m. followed by a fashion show,
casino games and festivities. To learn more about
AYREP, visit http://austinyrep.org.
Austin REALTOR®
17
Key Points to Remember When Using Video
as a Marketing Tool
With changes in technology come changes in the way
proactive brokers market listings on behalf of their clients.
One of the newest emerging technologies is video. NAR
research shows that 85 percent of buyers wish to work
with an agent utilizing this new technology. Since video
is becoming a tool that is more and more attainable, we
have started to examine how our listing agreements and
Code of Ethics impact the use of these videos.
Paragraph 10B(1) of the ACTRIS Exclusive Right to Sell
Agreement states that brokers “may advertise the Property
by means and methods as Broker determines, including
but not limited to creating and placing advertisements with
interior and exterior photographic and audio-visual images
of the Property and related information in any media and
the Internet according to [Paragraph 7E].”
In practice, this means we are able to do the same thing
with video marketing pieces that we are with photos. The
authorization granted in Paragraph 7E dictates to what
extent the videos and photos may be used and where they
may be used.
Remember, when you are creating video to be shared on the
Internet, you are advertising everything in the video to anyone
with an internet connection. Be considerate of valuables and
the safety of your clients, and think very critically about what
information you are sharing with the world.
Consider how our REALTOR® Code of Ethics impacts the
video. While some agents believe it is our job to only
showcase a property in its best light, we also have an
obligation to present a true picture.
Additionally, it is important to remember that once the
listing agreement ends, either by completion of the
transaction or termination of the listing agreement, the
authorization to use these items in any way terminates.
So, what about using your marketing pieces to market to
future clients? Consider getting written authorization from
your client to continue using the marketing item in your
efforts. But remember, since they are no longer the owner
of the property, you must remove identifying information
about the property, such as the address.
Finally, when working with buyers, you may be tempted
to record or stream video of the properties you visit. This
should only be done with the written permission of the
seller—so be sure to contact the listing agent to seek this
permission before you hit record.
Want to incorporate video in your business? Register
for Salesperson to Spielberg at the Austin Board of
REALTORS® on September 15 at www.abor.com/courses.
Chad Cardani
Cardani Group, REALTORS®
ABR, GREEN, GRI
Now Accepting 2012
Leadership Academy Applications
Boost your leadership skills at next year’s ABoR
Leadership Academy. Advance your profession by
applying today at www.abor.com/LeadershipAcademy.
2011 Graduating Leadership Academy
18 Austin REALTOR
®
30th
Realt Annua
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Fl the 8
to
October 26, 2011
Austin Convent ion Center
500 E. Cesar Chavez Street
Ticket Price: $15
S p e c ia l th a n k s to o u r
2 0 11 R e a lt y R o u n d U p
P a rt
®
OF TEXAS
n e rs
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Austin REALTOR®
19
Welcome!
Realty Round Up is set
for October 26, and thi
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opportunities at this mu
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st-see event. Read below
ny exciting
for reasons why you do
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11 Realty Round
• Economic update: Dr
. Jim Gaines, research
economist with the Real
will deliver a glimpse int
Estate Center at Texas
o the current state of the
A&M University,
economy and upcoming
• Door prizes, booth aw
market trends.
ards and costume prize
s: These exciting prizes
away throughout the da
, including four tablets,
y.
will be given
• Educational session
s: These courses will arm
you with knowledge you
will also have access to
can take back to your bu
various business and ML
siness. You
S programming.
• App Central: Join us
for demonstrations of va
rious mobile apps to eq
tools they need to succe
uip agents with the lates
ed in their everyday busin
t technology
ess activities.
• Access to the latest
products and services:
Visit more than 130 exh
real estate tools and se
ibitors in the Exhibit Ha
rvices.
ll for the latest
• Networking colleag
ues: Drawing more than
1,500 professionals in
network with colleague
2010, Realty Round Up
s and expand your conta
is the place to
ct list.
• Free after party: Follo
wing Realty Round Up,
ABoR and the Austin Yo
will host an after party,
ung Real Estate Professio
which is a great way for
nals (AYREP)
you to unwind from the
Round Up wristband wil
trade show festivities. Yo
l grant you access to thi
ur Realty
s event.
• Sumo Wars Competi
tions: These competitio
ns will take place betwe
en Broker, Mortgage an
d Title companies.
From interacting with you
r colleagues to kicking
back at the after party,
miss out on any of the
you don’t want to
Realty Round Up festivitie
s. Purchase your ticket
will have access to all pro
for only $15, and you
gram events, including
the after party. We’ll se
Convention Center on Oc
e you at the Austin
tober 26 for the 30th An
nual Realty Round Up:
Flashback to the 80s!
Chris Rodriguez, 2011
Realty Round Up Chair
Special Thanks
Realty Round Upto the
Committee
Thank you to ou
r dedicated
Realty Round Up
Committee for al
e show a succes
l of their voluntee
s!
r effo
making this trad
Realty Round Up
Chair
Chris Rodrigue
z
Austin Real Pros
, REALTORS®
Corrine Costab
ile
Keller Williams Re
alty
Noble Davis
Lakeline Realty
Bill Evans
Austin Real Pros
, REALTORS®
Jessica Garcia
Keller Williams–
Lake Travis
Leonard Guerre
ro
J.B. Goodwin, RE
ALTORS®
Rayna Hanschen
Equity Texas Re
alty
20 Austin REALTOR
®
rts in
Barbara Goodru
m Heil
Coldwell Banker
United
REALTORS®
Cheryl Jenkins
Realty Executive
s,
Amy Kobza
98th Meridian
Austin-Nor th
John Schutze
Chase Bank
Yvonne Manning
Home Simple of
Texa
s, Inc.
alty
Tom Mayes
Tom Mayes Real
Es
tate
e Protection
Anita Spadaro
Real Living, Life
Style
Patti Stevens
Carpet Supply
Alisa LeBlanc
Patten Law Firm
Will Mannis
EXIT-Options Re
Beverly Polyniak
Old Republic Ho
m
s Realty
Patricia Vincen
t
Coldwell Banker
United
REALTORS®
Sally Yaryan
ABoR Committee
Staff
Executive
Gina Willemsen
Shirley William
s
ABoR Committee
Staf
f Liaisons
Event Schedule
Grand Prizes
s
Exhibitor Check-In Open
1st Place Prize:
Registration Opens
One year of free membership
Gaines
dues (ABoR, TAR & NAR) and
Coffee Talk with Dr. Jim
one
8:30–9:30 a.m.
n
sti
Au
of
y
Cit
yea
th
r of free MLS participation
wi
y
on
rem
Ce
g
ttin
Cu
n
Ribbo
fees, starting January 1, 20
9:45 a.m.
12
yor Lee Leffingwell
Ma
2nd Place Prize:
hibit Hall Opens
10:00 a.m.–4:00 p.m. Ex
s
On
en
e year of free MLS par ticipat
Op
ion
ABoR Arcade Lounge
ly)
lal
du
ivi
ind
en
fee
tak
s, starting January 1, 2012
s
adshots Sessions (photo
He
Agent
3rd Place Prize:
Sumo Wars – Agent to
10:30–11:00 a.m.
$5
00 cash prize
ynote Presentation:
11:00 a.m.–12:00 p.m. Ke
t
Austin Economic Forecas
Silver Par tner CoreLogic
er
ok
Br
to
Ma
rketLinx will also be giving
Sumo Wars – Broker
12:30–1:00 p.m.
away 4 tablets during the gra
nd
Educational Sessions #1
prize drawings. Additionally,
Does
at
12:30–1:20 p.m.
Wh
d
two
an
S
ML
the
th
What is New wi
$50 cash prizes will be award
ed
the ABoR ACTRIS
th
wi
t
ee
(M
?
Me
to
an
dur
ing the show for best 80s-era
it Me
s)
tor
rec
Di
costumes.
Committee and Board of
g
tin
Mobile Marke
MLS Tools – Realist 2.0
tion Room
Technology Demonstra
12:30–3:30 p.m.
1:30– 2:20 p.m.
Power
Discover Your Memory
rg
Salesperson to Spielbe
ogram
®
REALTOR Leadership Pr
s
xa
Te
P:
RL
oR/TAR–T
AB
Tax Preparation Service
:
Afternoon Presentation
2:00–3:00 p.m.
This House
ll
Se
m
fro
ger Hazard
Ro
2:30–3:20 p.m.
Risk Reduction
Mobile Marketing
g
QR Codes and Marketin
MLS Tools 2.0
y to Title Company
mo Wars – Title Compan
Su
.
p.m
0
3:3
0–
3:0
Grand Prize Drawing
3:30–4:00 p.m.
After Party
ssionals
4:30– 6:30 p.m.
g Real Estate Profe
®
sted by the Austin Youn
Ho
) at
ard of REALTORS (ABoR
REP) and the Austin Bo
(AY
3.
70
78
TX
n,
st 5th Street, Austi
zo’s Restaurant, 801 We
En
sh
ca
0
$5
because two
ssed in your 80s attire
7:30 a.m.
8:00 a.m.
Come dre
for the best costumes!
prices will be awarded
uc at io na l se ss io ns
d
e
n
o
n
io
at
rm
fo
in
re
o
M
s ca n b e fo un d
nt
e
v
e
p
U
d
un
o
R
ty
al
e
an d R
d up .
at w w w .a b o r.c o m /r o un
Follow us on Twitter
@ABoR_RRU
Austin REALTOR®
21
Exhibitor List
Gracy Title Company
Real Estate Staging Asso
Harvey-Daco
c. - Central Texas Chapter
Hay Compere PLLC
Realty Executives
HighDefRealty.com
Scott Felder Homes
Home Builders Associa
tion
Security National Mortg
Housing Authority of the
age City of Co
mpany
Austin
Silpada Designs Sterlin
Ideal Jewelry
g Silver Jewelry
Independence Title Comp
any
Southwest Movers Assn
Lake Travis Builders
.
Team Beach Body
Level Best Foundation
Repair
Texas Department of Ho
Maids Serving Austin, Th
using and e
Community Affairs
Mercedes Homes
Texas Department of Mo
MHI
tor Vehicles
Mission Mortgage of Tex
as, Inc.
Texas Land Bank
Modern Woodmen of Am
erica
Texas Lone Star CRS Au
Mold Inspection Science
stin
s of The Glass
Guru of Austin
Austin
The Taxelope
Monte Vista Condomini
ums
Th
e UniPro Group
NAHREP
Tri-Tech Surveying
NARPM-Austin Chapter
Twist Tours
National Tenant Network
Ult
imate Imaging
Nextage Lincoln Ray Re
alty
ZipRealty
NHSPro
*List as of August 24, 201
Old Republic Home Pro
1
tection
Companies highlighted
ONEprop
in pink are event
partners.
RE/MAX of Texas
RED RIVER
NECHES
TRINITY
SAN JACINTO
BRAZOS
CONGRESS
AUSTIN CONVENTION CENTER
P
ARKING
N
6th
5th
P
4th
3rd
2nd
P
IH-35
1031 Exchange Corporat
ion
1836 Property Manage
ment
ABoR Foundation
ABoR Installation
ABoR TREPAC
ADT Security - USA Protec
tion
Affordable Home Protec
tion
Services
Alamo Title Company
Allandale Condos, The
Allied Home Warranty
Ambit Energy
American Home Shield
Ameripro Funding
Anderson Insurance Pa
rtners, L.P.
Apple Roofing Siding Gu
tters
Ashton Woods Homes
Austin American-States
man
Austin Board of REALTO ®
RS
Austin MetroGuide
Austin Real Pros, REALTO ®
RS
Aztec Marking Inc.
Bruecher Foundation Se
rvices, Inc.
Builders Preferred Mortg
age a Schmidt Mortgage Co.
CASA of Travis County
Capital Farm Credit
Capital Real Estate Traini
ng
Carpet Supply Co.
CCIM Central Texas
Centerra Homes
CenTex Foundation Repa
ir
Central Metro Realty
Central Texas Commerc
ial Association of REALTORS®
Champions School of Re
al Estate
CHASE Bank
CHORE Masters
Ciarra Morgan - Indepen
dent Scentsy Consultant
CoreLogic MarketLinx
Cre8tive Apps, LLC
Credit 360 Consulting
Digital Exposure
EcoBox
Enclave at Hudson Bend
Condos
First American Home Wa
rranty
FLOHR
Go Local Austin
Goldwasser Real Estate
Goomzee
AUSTIN
CONVENTION
CENTER
1st
Locations
Parking Garage: 2nd Street and Brazos
5th Street Parking Garage: 5th Street and Red River
22 Austin REALTOR
®
REALTORS® Get Techy at WCAoR Tech Tune Up
Hats off to the Williamson County Association of
REALTORS® (WCAoR) for putting together a day of
education, networking and, of course, a variety of amazing
prizes at the 5th Annual Tech Tune Up event. More than
130 Central Texas REALTORS® attended the educational
convention on June 22 to brush up on the latest tools and
technology available to real estate professionals.
The day-long program featured topics including video
creation, mobile marketing, blogging, cloud computing,
photography and introductions to Facebook, Twitter and
LinkedIn. Many of the sessions offered MCE credit.
Below are some key take-aways from a particularly
interesting session led by ABoR member Curtis
Reddehase of Sky Realty. In a session titled “All Things
Google,” Reddehase talked to fellow REALTORS® about
using Google’s tools and services to build a stronger web
presence.
It’s no secret that websites deemed popular by Google are
more likely to turn up on the first page of Google search
results. Among other ways Google determines a website’s
popularity is the amount of web traffic it receives. So, if
you’re launching a new website, how do you compete with
more established sites and begin driving traffic to your
page? Reddehase recommends running a Google AdWords
Campaign.
Google’s AdWords service allows you to create ads and
choose “keywords,” or words and phrases that relate to
your business. When people search on Google using the
keywords you’ve selected, your ad may appear above or
alongside the search results. The daily budget you set
regarding cost-per-click determines how often your ads
show throughout the day, because once your budget is
reached, your ads will stop showing for that day.
Tips for using Google AdWords:
• Within your campaign, create a group for every pre-set
search page you have on your site (e.g., Downtown
Austin, East Austin, Cedar Park, etc) and customize
your keywords for each group.
• Use the Google AdWords Keyword Tool to determine
which phrases are most often used by consumers
when conducting online searches and how competitive
these terms are (i.e., the number of advertisers
worldwide bidding on each keyword). Use this
knowledge to choose keywords for your ads.
• Set your default cost-per-click bid relatively low. There
will be enough bids to go around, and you’ll ultimately
get more clicks for less money, says Reddehase.
• When putting together your ad, consider using a
display URL that will assist in your branding efforts.
• Avoid setting keywords that will waste the clicks you’re
paying for. For example, “Tarrytown” not only applies
to an area in Austin, but to a village in New York.
Therefore, in setting “Tarrytown” as a keyword you
run the risk of inefficiently displaying your ad to those
outside your target market.
Another way to help draw traffic to your website is by
featuring original, specialized content. Reddehase
challenged those who used pre-packaged website content
to copy a sentence from their website and paste it into
the Google search box, and he proceeded to conduct an
example of this for the audience. Needless to say, search
results returned websites of agents from around the country
that featured identical content. He also pointed out that
these websites used nearly identical imagery, some of which
did not match the local area in which a REALTOR® worked.
“It’s better to have one original page on your website than
a thousand pages of duplicate content,” said Reddehase.
“Otherwise, it looks silly.”
Take the time to write all of your content; better yet, take
the time to write specialized content. By writing content
focused on a particular area of town or the newest big
brand community, for example, you better your chances for
becoming the go-to source of information on the subject in
the eyes of Google and consumers.
Regardless of how you choose to populate and promote
your website, it’s important to take a look at the traffic
patterns associated with your site to determine how you
can improve its effectiveness. Google Analytics, a free web
analytics tool, will allow you to see bounce rate, pages per
visit, time on site and other helpful metrics that show how
consumers interact with your website.
The information provided by Google Analytics is key to
understanding how successful your website is at meeting
consumers’ needs and holding their interest. In addition, by
studying your metrics and considering the number of leads
you generate each month, you should be able to determine
an estimated conversation rate for lead generation (e.g.,
every one in 30 – 40 visitors results in a lead).
Looking to get started using these tools? Just run a Google
search to find them.
Kate Voth is the Senior Social Media
Communications Coordinator at ABoR. She
regularly scans the Web for ways to communicate
with and offer support to Central Texas REALTORS®,
promote homeownership and the REALTOR®
profession and build a loyal and enthusiastic
community around ABoR brands via social media.
Austin REALTOR®
23
member spotlight
This segment of our magazine focuses on recent accolades bestowed upon members of the Association.
Please join us in congratulating them on their accomplishments. If you would like to submit details on
recent recognition you’ve received, send us an email at [email protected], and the spotlight may turn
to you in a future publication.
Long Time Member Appointed to
Prestigious Volunteer Position
Congratulations to ABoR Member
Herbert Martinez of the Real Estate
Executives of Austin for being
appointed to Commissioner for the
Firefighters’ and Police Officers’ Civil
Service Commission. His new role is
a high-profile volunteer position in city
government. Herbert will take part in promotions, appeals
of promotional exams, suspensions and terminations.
Other duties of his new appointment involve public safety
personnel matters, including firefighters and police officers.
ABoR Director Makes
Television Appearance
ABoR Director Barb Cooper of Coldwell
Banker United REALTORS® recently
made a television appearance on
HGTV’s My First Place. On August 9,
Barb successfully assisted her clients in
a home purchase in the episode “How
Much is Granite Really Worth?” Way to
go, Barb, for finding your clients their perfect first home.
REALTOR® Recognized for
Promoting Healthy Lifestyle
Please join us in recognizing Krisstina
Wise of the GoodLife Team for
being a finalist for Austin’s Fittest
Entrepreneurs Competition. The
competition identifies and promotes
entrepreneurs who keep health and
fitness top-of-mind not only in their
lives, but also in their organizations. Great job, Krisstina,
for this exciting accomplishment!
Austin
REALTOR® Wins
Uncle Billy’s Beer
Dessert Contest
ABoR member Jennifer Archambeault of
the Cardani Group, REALTORS® recently
won second place in the Uncle Billy’s Beer
Dessert contest. Archambeault says that
her love for baking and home brewing
merged when Uncle Billy’s Restaurant
and Brewery held a contest
that challenged participants to incorporate
the name of a beer into the dessert. Jennifer
won second place with her inventive creation
entitled, “A Witty Cup of Chocolate Insomnia
Latte,” a play off two of Uncle Billy’s beers.
Hats off to Jennifer for winning second place
with her tasty treat!
Inman News Acknowledges ABoR
Director for Low-cost Business
Model
ABoR Director Aaron Farmer of
Texas Discount Realty was recently
interviewed about his experience with
the obstacles and opportunities of lowcost business models. He told Inman
News that “a key for his firm’s survival
is in keeping overhead [costs] low.” In the article “Lessons
in Low-cost Real Estate Brokerage,” Aaron discusses how
his firm offers a range of discounted services, from flatfee to full service. He also mentions that in the current
economic climate, he does “not personally see a lot of
banks or short sales using discounters, just because the
transaction is more labor intensive.” Congratulations for
being featured in this article, Aaron!
FOR LEASE WE WANT TO BE YOUR SOURCE
FOR PROPERTY MANAGEMENT!
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Referral Fees Paid/Brokers Protected
346-2121
Call for details: 512-346-2121
Since 1979
www.hullproperties.com
Member of NARPM: National Association
of Residential Property Managers
24 Austin REALTOR
®
Kick Off Safety Month by Staying Informed and Empowered
As a part of an ongoing effort to keep REALTORS®
protected in the real estate profession, the National
Association of REALTORS® will launch Safety Month this
September to promote safety and helpful resources.
In this line of business, you must exercise safe practices
on a daily basis to ensure your security and the safety
of your clients. Your day-to-day responsibilities, including
hosting open houses and interacting with strangers, can
potentially expose you to danger. Fortunately, staying
informed and empowered through the latest safety tips will
arm you with tools to keep out of harm’s way.
Technology Tools to
Keep Safety Top-of-Mind
Safety Phone Applications
In a recent online survey of more than 450 real
estate professionals, nearly 34 percent of real estate
professionals say they have felt unsafe on the job
“occasionally,” according to Moby, a company that creates
personal safety mobile applications. This is one reason
why safety applications for smart phones are increasingly
popular among REALTORS®.
In fact, ABoR member Michelle Jones
recently developed Real Alert, a new safety
app designed for REALTORS® to use in
emergency situations when showing homes
and meeting with new clients. Among its
many features, the app allows users to set
an alarm, dial 911 with a single screen tap,
look up hospital locations and even enter
an attacker’s information. This application
is $1.99 and available to iPhone and iPad users. To
download Real Alert, visit http://itunes.apple.com/us/
app/real-alert/id436455476?mt=8.
Another safety app
available to REALTORS® is
Guardly Mobile Personal
Safety, designed to
significantly reduce the
amount of time it takes to
reach help in the event of
an emergency. This app
differs from other safety
applications by enabling a user’s personal safety network,
including friends, family members or neighbors, through
your phone’s internet, web incident pages, text messages
and voice conferencing. Users can also dial 911 by tapping
on the screen. This application is available to iPhone users
for free at http://itunes.apple.com/us/app/guardly/
id400742014. Blackberry and Android versions are being
developed.
There is a similar application called Panic for
BlackBerry Users, which features a repeating alarm,
personalized countdown timers and text messages, GPS
communication, touch-screen 911 access and lastly, it is
password protected. BlackBerry users can download this
safety application for free at http://appworld.blackberry.
com/webstore/content/5836?lang=en.
In addition to safety phone applications, the Capital
Area Council of Governments recently announced the
Emergency Notification Service, which allows residents
of its 10-county area to register cell phones to receive
notifications about emergencies affecting homes,
businesses or families. Register for this system at http://
wireless.capcog.org/ENS/Intro.aspx.
Safety Videos, Webinars and Courses
NAR has a host of safety videos, in addition to upcoming
and archived webinars available to members. A variety of
videos regarding REALTOR® safety at home, the office, on
the road and with clients can be found at www.realtor.
org/about_nar/safety/safety_video.
On September 12 at 10:30 a.m., safety expert Andrew
Wooten will host the free webinar Social Media and Cyber
Safety. The webinar will review a variety of topics, including
how to identify the pitfalls and rewards of social media,
ways to decrease your chances of criminals hacking into
your technology devices and tools you need in your safety
plan to reduce cyber attacks. Register for this free webinar
or review archived webinars at www.realtor.org/about_
nar/safety/safety_video#webinars.
The 2011 TAR Convention and Trade Expo plans to host
a Technology Learning Center on September 12, which
contains a Texas REALTOR® Safety course. This course will
teach you how to enhance your personal safety with your
smart phone at open houses, vacant properties and/or
new neighborhoods. Register for the Convention and Trade
Expo today at www.texasrealtorsconvention.com.
Handouts, Resources, Forms and Presentations
A variety of handouts, tools and office forms are available
to all members on NAR’s website at www.realtor.org/
about_nar/safety. Topics range from knowing your local
safety resources to specific, location-based safety advice.
ABoR also has safety tips to keep in mind when performing
daily REALTOR® duties posted on our website at www.abor.
com/pdf/SafetyFlyer.pdf.
REALTOR® Safety: An Ongoing effort
Your local, state and national REALTOR® associations
provide you with so many tools to stay safe and alert in
your profession. Browse these websites frequently to
increase your safety awareness, and ultimately, prepare
yourself for unforeseen emergencies.
Austin REALTOR®
25
REALTOR® ethics case study
A Lesson to Learn in Property Management
The Situation
Renter X filed an ethics complaint against REALTOR® A,
who allegedly did not protect and promote the interests
of her client and concealed pertinent facts relating to the
property ownership, as well as the process of transfering
Renter X’s security deposit.
The Response
Learn how the facts of this case unfolded during an
ethics hearing panel by ABoR’s Professional Standards
Committee.
• Renter X leased a property through REALTOR® A’s
(Broker) property management company. Renter X
paid a security deposit of $2,000 at the lease signing.
• Later in the year, the property sold and closed 15 days
before Renter X’s lease ended. Renter X’s security
deposit was transferred to the new owner, REALTOR®
B (Broker/Owner), on the settlement statement.
• Renter X returned the keys early to REALTOR® A’s
property management company. At that time, Renter
X informed REALTOR® A’s property management
company that she had vacated the property 12 days
before the end of the lease contract and that the
company could perform the walk-through inspection
at any time. However, it appears that a walk-through
inspection was never completed by REALTOR® A’s
property management company.
• Per written testimony from REALTOR® A, Renter X’s
property file was transferred to the new owner’s
property management company two days later.
The new management company was identified as
REALTOR® B’s property management company.
• Renter X was not notified, neither verbally nor in
written correspondence, of the transfer of ownership,
property management company or the transfer of her
security deposit.
• Approximately one month after the property was
26 Austin REALTOR
®
The Outcome
After a thorough review of the findings of fact, the hearing
panel concluded that REALTOR® A violated Articles 9 and
11 of the REALTOR® Code of Ethics.
Article 9 of the REALTOR® Code of Ethics states that
“REALTORS®, for the protection of all parties, shall assure
whenever possible that all agreements related to real
estate transactions including, but not limited to, listing
and representation agreements, purchase contracts and
leases are in writing in clear and understandable language
expressing the specific terms, conditions, obligations and
commitments of the parties. A copy of each agreement
shall be furnished to each party to such agreements upon
their signing or initialing.”
REALTOR® A violated Article 9 when she failed to notify the
tenant in clear, understandable and written language of
the transfer of her security deposit to REALTOR® B.
Article 11 of the REALTOR® Code of Ethics reads that “the
services which REALTORS® provide to their clients and
Photo © iStockphoto.com/cosmonaut
The following scenario is based on an actual case heard
by members of ABoR’s Professional Standards Committee.
vacated, Renter X emailed REALTOR® A’s property
management company regarding the return of her
security deposit.
• One day later, the director of REALTOR® A’s property
management company responded to Renter X.
The director stated that REALTOR® A’s property
management company no longer held the deposit
and that it had been transferred to the new owner. In
her communication, she did not identify REALTOR® B
as the new owner, nor did she provide the property
management company’s contact information. The
same day, REALTOR® A (the owner of the original
property management company) provided Renter
X with the new property management company’s
information without explaining that REALTOR® B was
the new owner and property management company.
It appears that the new owner information was never
given to Renter X.
• Later on in the day, Renter X spoke to REALTOR® B’s
new property management company regarding the
return of her deposit. Per written testimony on the
following day, the new property management company
processed and mailed the deposit check.
The Value of Working with REALTORS®
Promoted Around Austin
Austin Board of Realtors - August 2011 Poster Showing
Each year, the Austin Board of REALTORS® launches a new
advertising campaign to promote Austin-area real estate
and the value of working with REALTORS®. In an effort to
keep our messages fresh and maximize the effectiveness
of each advertisement, ABoR currently has five rotating
outdoor advertisements, two of which are rotating tri-vision
billboards.
The most recent billboard advertisements were placed at
the beginning of August and run for 28 days. To the right
is a map of our current billboards. The strategic placement
of the billboards results in approximately 85,000 people
viewing messages that promote you and your business
every day!
0 mi
2
4
6
8
10
Copyright © and (P) 1988–2008 Microsoft Corporation and/or its suppliers. All rights reserved. http://www.microsoft.com/mappoint/
Certain mapping and direction data © 2008 NAVTEQ. All rights reserved. The Data for areas of Canada includes information taken with permission from Canadian authorities, including: © Her Majesty the Queen in Right of Canada, © Queen's Printer for
Ontario. NAVTEQ and NAVTEQ ON BOARD are trademarks of NAVTEQ. © 2008 Tele Atlas North America, Inc. All rights reserved. Tele Atlas and Tele Atlas North America are trademarks of Tele Atlas, Inc. © 2008 by Applied Geographic Systems. All rights
reserved.
The ABoR outdoor advertisements promote the importance
of working with a REALTOR® and the benefits of owning a
home. This campaign also directs viewers to our popular
consumer site AustinHomeSearch.com, where they can
search for REALTORS® and properties to match their needs.
ABoR’s campaign also includes a variety of English and
Spanish radio, television, print and online ads.
The campaign is driving a lot of traffic to
AustinHomeSearch.com, resulting in an average of nearly
six million page views to an average of about 21,000
property listings each month.
Our campaign efforts are focused on increasing your
business traffic, highlighting the importance of working
with a REALTOR® and ultimately, increasing your visibility to
consumers.
customers shall conform to the standards of practice and
competence which are reasonably expected in the specific
real estate disciplines in which they engage; specifically,
residential real estate brokerage, real estate property
management, commercial and industrial real estate
brokerage, land brokerage, real estate appraisal, real estate
counseling, real estate syndication, real estate auction, and
international real estate.”
REALTOR® A violated Article 11 when she failed to
communicate within a reasonable period of time, following
the vacating of the property, as to the process for the return
of Renter X’s security deposit and the contact information
concerning who had the security deposit.
The Disciplinary Action
Upon determining the violation of Article 9 and 11,
REALTOR® A received a Letter of Warning placed in her
file. The Ethics Hearing Panel required REALTOR® A to
attend a mandatory continuing education course on
property management. If REALTOR® A did not complete the
mandated course within the given time frame, she would
be required to pay a fine of $500 to the general fund of the
Austin Board of REALTORS®.
To ensure you avoid committing ethics violations, review the Code
of Ethics and Standards of Practice of the National Association of
REALTORS®, available online at www.abor.com/realtor_ethics/
home.cfm in the Downloads section to the right of your screen.
Austin REALTOR®
27
12
legal topics
Dealing with Lender Required Repairs Under TREC Contracts
by Don R. Hancock
Here is an interesting contract question, which I want to
share with you.
states that “Unless otherwise agreed in writing, neither
party is obligated to pay for lender required repairs...”
A buyer and seller contracted for the sale of a residence
using a TREC One to Four Family Residential Contract
(Resale). The check boxes for Paragraph 4A and 4A(2)
(a) were marked and a Third Party Financing Addendum
for Credit Approval was added to the contract indicating
that the obligations of the buyer were subject to the buyer
obtaining a V.A. loan from a third party lender.
The seller contended that the $1,000 credit agreed to in
Paragraph 12A(1)(b) has to be used to replace the water
heater because the seller only agreed to the credit in lieu
of making repairs. However, the term “Buyer’s Expenses”
is defined in Paragraph 12A(2) and does not include any
repair items. So, repairs, lender required or otherwise, are
not required to be paid out of the $1,000 credit.
During the option period, the buyer had the property
inspected. The buyer wanted to make the negotiated
repairs himself but wanted a credit from the seller for
those repairs. Since most lenders will not allow a repair
credit to be shown on the contract for the buyer, the
parties agreed under Paragraph 12A(1)(b) of the contract
that the seller would provide up to $1,000 for payment of
“Buyers Expenses which Buyer is prohibited from paying by
FHA, VA, Texas Veterans Land Board or other governmental
loan programs, and then to other Buyer’s Expenses as
allowed by the lender.”
Paragraph 7E states that neither party is obligated to
make lender required repairs, unless the contract requires
them to make such repairs. Since there is no provision
in the contract requiring either party to make the repair/
replacement, neither is obligated to do so.
Who do you think is correct? Let’s review the relevant
contract terms to see if we can arrive at an
answer.
In addition to the relevant
provisions of Paragraph 4A
and 12A(1)(b), we need
to consider Paragraph
12A(2) and 7E of the TREC
contract.
Paragraph 12A(2)
defines the term “Buyer’s
Expenses” and
Paragraph 7E, entitled
“Lender Required
Repairs and Treatments”,
I believe the buyer is correct in asserting that he does
not have to make lender required repairs and that he
may terminate the contract under Paragraph 4A(1). He
would then receive a refund of earnest money because
the property does not meet the lender’s underwriting
requirements if the required repairs are not made.
As most of you are aware, it is quite common to use
Paragraph 12A(1)(b) to provide a credit to a buyer in lieu
of a repair credit, since lenders quite uniformly frown on
buyer repair credits in the contract. So, the lesson to be
learned here is that when you agree to a credit under
Paragraph 12A(1)(b), you should also have provisions in
the contract stating that the buyer is required to make any
additional lender required repairs. That may not save you
in all situations because certain types of loans may prohibit
the buyer from making the repairs. However, without such a
provision, a seller has no standing to require the negotiated
credit to be used for lender required repairs.
Don R. Hancock is a partner in Hancock &
McGill, L.L.P., attorneys at law. He received his
undergraduate degree from Texas A&M University
in 1968 and his J.D. degree from the University of
Texas Law School in 1971. Hancock has practiced
real estate law in Austin since receiving his law
license.
Photos © StockXpert.com/alxm
Problems arose when the lender inspected the property
and required additional repairs, including replacement of
the water heater. The seller’s position was that the buyer
had been given a $1,000 credit in lieu of repairs and was
required to replace the water heater out of those funds.
The buyer’s position was that they were not aware that
the water heater would have to be replaced when they
negotiated the $1,000 credit and in any event, the contract
did not require the buyer to replace the water heater. The
seller stated that he would not replace the water heater. He
argued that if the buyer tried to terminate the contract, the
buyer would be in breach of the contract and would not be
entitled to receive a refund of earnest money.
However, the lender has required the repair as part of its
loan underwriting requirements. If neither party makes
the repair, the property does not satisfy the underwriting
requirements of the lender and under Paragraph 4A(1)
the “...Buyer may terminate this contract by giving notice
to Seller prior to closing and the earnest money will be
refunded to Buyer.”
New Designated
REALTORS®
Brian Bailey
Ronald Baker
Scott Bettersworth
Jeremy Coburn
Clay Cooper
Robert Dube
Rob Emshwiller
Elliott Flick
Ron Franklin
Roland Galang
Lyndsey Garza
Joe Giddens
Jennifer Greenberg
Mary Harper
Craig Hecht
Colbert Henning
Larry Holman
Carl Johnson
Shannon Johnston
Monty Meusch
Charles Moran
Donald Wayne Morgan
Antonia Murphy
Sara Oates
Marilyn Rabkin
Pat Roberson
Ford Shanley
Steve Sharp
Robert Sparks
Russell Tam
Nancy Utkov
Carol Verrengia
Brian Waxler
Jonathon Willis
Jonathan Wood
BK Woody
Bailey Properties
Bald Ginger Real Estate
Bettersworth Realty
Networth Realty of Austin
Agave Properties
Dube’s Commercial, Inc.
Emshwiller Residential Real Estate
Austin-Flick, REALTORS®
Ron Franklin
Roland Galang
Hollows Lake Travis Properties
Joe P. Giddens, Jr., Broker
Wingreen Properties
Mary Harper
Hecht Real Estate Group
Henning Residential
Larry Holman, Broker
NCR Group
Poplin Realty, LLC
Farmers National Company
Charles Moran Enterprises, Inc.
Investors Only Realty
Antonia L. Murphy
Sara Jones Oates
Marilyn Davis Rabkin, Broker
eRealty
Chel Realty
Sharp Austin Realty
RDS Properties
Ashlaur Real Estate
Utkov Realty
A-List Properties
Clearview Commercial Realty
J. Marshall Willis, REALTOR®
Metropolitan Property Exchange
Woody Real Estate
Classifieds
LOOKING TO BUY OR SELL SOMETHING?
Classified ads are free for members to advertise their used
office equipment, furniture or computers. Submit your ad
(maximum of 30 words, including contact information) to
[email protected] or fax to 512-454-5369, attn. Marketing
by the 10th of the month for the next issue. In between
publications, you can submit your information in the ABoR
Learning Communities by visiting www.abor.com/alc.
The classifieds section is listed on the right side of
the homepage.
For Sale: Steel stock riders (both new and used),
brochure boxes, display stands and open house and for sale
directionals. Angela (512) 924-4815 or email at ahayek@
austin.rr.com.
This Organization is Not
“About You”—It Is You
As Chair of the ACTRIS Committee, I receive calls
and emails from our members who are concerned
about specific policies or rules. Trying to discern what
our members want, with little input until after the
decision has been made, can be frustrating. ABoR
wants and needs your input. All too often, decisions
can be made by a handful of people, which affects the
entire membership. While the people are admittedly
experienced, they are nevertheless, a small group of
representatives.
We need your input beforehand. We have opportunities
coming up soon that we need your help with. ABoR will
be looking at a variety of possible new MLS vendors to
run our system. We need “in the trenches” REALTORS®
to help us evaluate these possible alternatives. In
addition, task forces are being assembled to revamp
all Profile Sheets. We especially need your help with
leasing, multi-family, farm and ranch, lots, as well as
commercial profile sheets. Currently, we have task
forces looking at “Green Fields” for our MLS and
revamping AustinHomeSearch.com.
We hear comments from unhappy members, but if
you’re not a part of the solution, then you’re part of
the problem. It’s hard work by a dedicated group of
members to try and make our MLS the best possible
system. There isn’t a perfect solution to everything.
However, we need to find the best possible solution.
Without your personal help, this isn’t possible.
Times are creating changes and challenges. This is an
industry in flux. If we don’t change with it, we will be
tomorrow’s record stores, newspapers, travel agencies
or retail businesses. Our business is going online and
on mobile devices, and we need your help in securing
our future. It’s nothing less than that. We’re asking you
to call—yes YOU, not someone else in your office….YOU!
Contact ABoR Member Services Administrative Assistant
Kate Mack at [email protected] or 512-454-7636 today
to impact the needs of us all.
Joe Bryson
512-203-4100
[email protected]
Condolences
Condolences to the family and friends of REALTOR® Mark
Guiling of RealTex Investments, Inc. Guiling began his ABoR
membership in 1984. Guiling passed away in early June.
Austin REALTOR®
29
facts & figures
July 2011
1,973
July 2011
1,499
July 2010
1,000
1,500
$196,750
July 2011
$220,000
July 2010
2,000
2,500
190,000
3,000
10,000
11,000
12,000
230,000
$284,125
July 2010
11,774
9,000
220,000
$265,835
July 2011
9,393
July 2010
210,000
Median Sales Price
Number of Homes Sold
July 2011
200,000
13,000
220,000
240,000
260,000
280,000
300,000
Average Sales Price
Active Listings
77
July 2011
73
July 2010
60
70
80
90
100
August’s market statistics will be
included in the Austin REALTOR®
Online scheduled to hit your inbox
at the beginning of October.
Average Days on Market
Austin Area Home Sales Volume Up, Median Price Down
According to the Multiple Listing Service (MLS) report
released by the Austin Board of REALTORS®, 1,973 singlefamily homes were sold in the Austin-area in July 2011,
a 32 percent increase from July 2010. During the same
time period, the median price for Austin-area homes was
$196,750, resulting in an 11 percent decrease when compared to July 2010.
Judith Bundschuh, Chairman of the Austin Board of
REALTORS®, commented, “We can now compare month-tomonth sales activity to a market that is not influenced by
last year’s homebuyer tax credits.”
Chairman Bundschuh continued, “The median price
for Austin-area homes decreased in July, reflecting a
shift in demand from higher to lower-priced homes. The
increase in sales compared to the drop in price shows that
Austinites are hunting for bargains.”
Austin-area homes spent an average of 77 days on the
market, four days longer than July 2010. The Austin market also featured 13 percent fewer new listings in July
2011, which was 20 percent fewer active listings and 28
percent more pending sales than in July 2010.
30 Austin REALTOR
®
“The combination of decreasing listings and increasing
sales means the inventory of Austin-area homes is beginning to shrink,” said Bundschuh. “Recent sales activity
continues to follow an upward trend, indicating that Austin
could be returning to a pre-recession cycle.”
The following sections describe trends in other sectors of
the Austin real estate market.
Townhouses & Condominiums
The volume of townhouses and condominiums (condos)
purchased in the Austin-area in July 2011 was 205, which
represents a 45 percent rise over July 2010. In the same
time period, the median price for condos was $164,250,
three percent higher than July 2010, and townhouses
spent an average of 82 days on the market, eight days
less than July 2010.
Leasing
The volume of leasing activity in Austin remained steady in
July 2011, with 1,884 properties leased, one percent more
than July 2010. The median price for Austin-area leases
was $1,300, four percent higher than the same month of
the prior year.
in the news
Throughout the year, ABoR works hard to promote REALTORS®’ knowledge of real estate market conditions. Below, you will learn about some of the media coverage ABoR has received in
recent months.
August 3, 2011: ABoR Chairman Judith Bundschuh
talked to KVUE about how to ensure a smooth closing
when buying or selling a home. In the ConsumerVue segment, viewers are encouraged to review everything related
to an inspection, communicate pertinent information to
the lender and make certain preparation tasks for a new
home are in order, including setting up a homeowner’s
insurance policy, utility accounts and a final walk-through.
Bundschuh
mentions that
most delays
are related
to the loan,
repair issues or
changes in the
contract.
July 6, 2011: ABoR Chairman
Judith Bundschuh discussed how to
determine the true cost of a home on
KVUE’s ConsumerVue segment. When buyers are narrowing down a list to the final options, Bundschuh urges
viewers to consider the homes’ location in relation to frequently visited destinations, additional costs associated
with a home,
the advantages
and drawbacks
of older homes
versus newer
homes and the
features of each
home.
July 20, 2011: Drawing on figures from ABoR’s monthly
MLS stats release, the Austin Business Journal stated that
single-family home sales were up nine percent in June
2011, compared to the same month of the previous year.
The Austin Business Journal also noted that year-to-date,
the median price remained statistically unchanged. in
June, 9,687 active single-family home listings were reported to be on the market, which was 18 percent less than
June of last year.
JuNe 20, 2011: Following ABoR’s monthly MLS stats
release, the Austin American-Statesman stated that
Austin-area single-family home sales were down eight
percent in May 2011 from the previous year. The Austin
American-Statesman reported a total of 1,891 single-family home sales, while the median price was up four percent
this past May. The Chairman of the Board noted that May
2010 was the peak month for sales tied to the federal
buyer tax credit and that the market may now be returning
to its normal pattern.
July 20, 2011: The Austin American-Statesman reported
on home sales using data from ABoR’s monthly MLS stats
release. The Austin American-Statesman mentioned that
this year in June, 2,145 single-family homes were sold,
compared to 1,962 homes sales in June 2010. Austinarea homes spent an average of 75 days on the market,
which was seven percent longer than a year ago. ABoR’s
Chairman states that when “looking at the results, it’s
encouraging to see that the demand for homes is strong
and that Austin-area homes continue to hold their value.”
June 15, 2011: ABoR’s Secretary/Treasurer Kevin Scanlan
spoke with FOX 7 News about how the Austin real estate
market compares to the nation. Scanlan stated that “year-todate, the number of home sales for 2011 is lower than 2010,
but it’s almost solely a function of the tax credit.” Scanlan
said that though the numbers were down, the median home
price had increased to $196,400, which was slightly above
the national home price. He urged buyers and sellers to work
with REALTORS® and to shop interest rates because nationally, interest rates hit a 40-year low of 4.55 percent.
Mark the date:
Upcoming October Broker Forum
Plans for the next broker forum are already underway. The next meeting, “The
Changing Face of Austin Demographics,” will examine the profoundly dynamic
population of Austin and Central Texas in light of the recent release of the 2010
Census Data. Join us on October 5 at 2:00 p.m. to learn about several trends in
the Austin area and how it relates to your business. Visit www.abor.com/broker
to RSVP for this informative session today. We hope to see you at the Broker
Forum, located at Austin Board of REALTORS®, 10900 Stonelake Blvd., Ste A-100.
Austin REALTOR® 31
Austin RealtoR ®
10900 Stonelake Boulevard
Suite A-100
Austin, Texas 78759-5826
PRSRT STD
U.S. POSTAGE
PAID
Austin, TX
Permit No. 1244

Austin REALTOR® July/August 2011 Issue

Transcription

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