april 2014 newsletter
DESCRIPTION
RACC April 2014 newsletterTRANSCRIPT
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The RACC Newsletter
REALTORS® Ass oc iat i on
o f C i t rus Count y , I nc .
Inside this issue:
President Message 1
General Membership
meeting
2 - 3
A-! Title– Full page Ad 4
Chili Cook Off 5
Education Classes 6 - 10
BB & T Full page Ad 11
Are You Using Your FREE
Benefit?
12-13
Volume X, Issue 4 APRIL 2014
The REALTORS® Association of Citrus County, Inc. exists to inform, educate and uphold the high standards set forth in the REALTOR®
Code of Ethics enhancing our members professionalism and image while fostering cooperation among our members and serving our
communities. We provide education and leading-edge technology to better safeguard private property rights and promote equal housing
opportunities
Regions Bank– Full
page Ad
15
Business Partners Kick
Off meeting
16
Business Partners Ads 17
Education Connection-
and MLS Tidbits
18
Fines & warnings 19
Calendar 20
On the Move 21
MLS Stats 22
Senate Passes Flood Insurance with House Amendments – (NAR) On March 13, 2014, the United States Senate voted 72-22 to approve the Homeowner Flood Insurance Affordability Act (H.R. 3370). The Senate acted quickly to pass the bill as amended by the House to avoid the need for a conference committee to reconcile any differences. The new bill further reins in and holds the Federal Emergency Management Agency (FEMA) accountable for the Biggert-Waters implementation issues. As passed, the bill repeals FEMA’s authority to increase premium rates at
time of sale or new flood map, and refunds the excessive premium to those who bought a property before FEMA warned them of the rate increase. The bill limits premium increases to 18% annually on newer properties and 25% for some older ones. Additionally, the bill adds a small assessment on policies until everyone is paying full cost for flood insurance. President Obama signed the bill into law on March 21, 2014. NAR had urged a swift vote in the Senate. What does this mean? This legislation puts the breaks on the escalating premium rates that many homeowners have been experiencing. How does it do this?
It creates a firewall on annual rate increases. It repeals the property sales trigger that has been depressing waterfront home sales. It repeals the new policy sales trigger. Reinstates grandfathering. It refunds homeowners who have overpaid for their flood insurance.
What do you tell your customers? FEMA has not been charging enough historically to cover catastrophic years. About half of the policy holders saw a 25% increase in the cost of flood insurance. When homes were sold the increases fully put into place, causing some homeowners to spend an additional $10,000 - $30,000 in annual premiums. This was not what congress intended. Now all policy holders will see an increase in their annual premiums. This will spread the pain to a wider pool of policy holders. The annual increases are capped at 25%. Eventually everyone will be paying the full rate. So instead of a sale triggering the complete increase, it will be phased in over time. If you are asked what a specific rate will be for a home, please refer them to a licensed insurance partner for a quote.
If you are looking to go above and beyond that go to the NAR website. Search on ‘flood disclosure’. This will give you guidelines on what to say. How do past customers get refunds? It will take a while for FEMA to work this out. It may take upwards of a year to receive refunds. Have your customer contact their insurance provider. They should have details once FEMA figures out what they are doing. Greg Younger, President
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BREAKFAST WAS A HUGE SUCCESS!!
On March 13th almost 160 Realtors, Business Partners and Guests
attended our Annual Breakfast to recognize RACC Top Producers.
President Greg Younger called the meeting to order at 8:20am
followed by Secretary Rob Tessmer Jr. providing the Invocation and Pledge. Business Partner
Chair Melissa Seney then took a few minutes to allow the Business Partners to introduce them-
selves before President Greg recognized County Commissioner Rebecca Bays and the Property
Appraiser Les Cook. Regions Bank and A-1 Title, our Business Partners of the Month took a
moment to address the audience before everyone enjoyed a delicious Buffet Breakfast provided
by Citrus Hills Golf & Country Club.
President Elect Debbie Rector inducted our New Members:
Deborah Clark Tropic Shores
David Collins ERA American Realty & Inv.
Toni Dunham Coldwell Banker, Investors
Barbara Enyard Tropic Shores
Janet Higgins Janet Higgins
Kyle McFarland ERA American Realty & Inv.
Scott Ulery A Good Appraisal Service
William Wikle Harper Realty
continued
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Next it was time to honor the Top Producers. Gwen Martone/ Regions and Melissa Seney/ Insurance
Resources presented certificates to the Million Dollar Producers and Plaques to the Multi-Million
Dollar Producers. Congrats to everyone that was recognized, what a great accomplishment!
Marvia Korol addressed the membership regarding the RPAC Party Cooler that will be raffled off at
the Chili Cook Off in April, if you would like to donate something to the cooler, please contact the
Association at (352) 746-7550. RPAC Chair Debbie Scott awarded pins to the Investors and 99’ers.
Thank you to everyone who has donated to RPAC this year.
There were lots of lucky winners at the event, Becky Norman, Coldwell Banker Next Generation was
the lucky winner of $200 in the Share n Share drawing, the other $200 will call go Habitat. David
Bramblett, Century 21 Nature Coast and Marvia Korol, RE/MAX Realty One won flower
arrangements with $50 gas cards donated by Gwen and Brenda the Business Partners of the Month.
Lorraine O’Regan was chosen to draw for the Queen of Hearts. She drew the joker and received $20
plus a free meal at the next General Membership Meeting. Don’t miss the Chili Cook-Off on April 10th.
The Queen of Hearts will be $140.00. (You could be the lucky winner!)
Again a huge Thanks to Brenda Buta/A-1 Title and Gwen Martone for being the Business Partners of
the month. The room was festive with the balloons and St. Patrick’s Day decorations.
OOPS! BRUCE BRUNK - MULTI-MILLION $ PRODUCER IN 2013
Bruce Brunk from Keller Williams Realty - Elite was a multi-million dollar producer in
2013. Inadvertently his name was left off the list at the meeting. Congratulations Bruce
and to all the Realtors®.
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The Florida Realtors Legal Hotline is a free benefit
available to all members. Here are the details:
Call: 407.438.1409
Hours: 9 a.m. - 5 p.m., Monday through Friday Florida Realtors Legal Hotline attorneys answer
questions about real estate license law and
related real property issues. Attorneys also offer
legal interpretations of the Florida Realtors/
Florida Bar contract and other standard business
forms and contracts.
What You Need: Have your Florida real estate license number or
NRDS number ready when calling the Legal
Hotline. The phone system only allows a limited
amount of time to key in the numbers. If you don’t
have the numbers, you’ll have to call back. Once
connected, calls for an attorney will be placed in
queue. Calls regarding ethics, MLS or procuring
cause will be redirected to staff specializing in these
areas.
Save time: Ask a question online Legal questions may now be emailed to the Legal
Hotline. Members will receive a live callback from
a Legal Hotline attorney. Ask a question now. (login
required)
Who May Use This Service? Current Florida Realtors members. If your license
number does not appear in our computer system,
you will not be able to speak with an attorney.
Local board/association attorneys, executive
officers and staff.
Private attorneys who represent a current member as
long as the member is also on the line for the call.
Cost: As a member service, there is no charge to
access the Legal Hotline. If you are calling from
outside the 407 area code, you may incur a
long-distance telephone charge.
FAQs:
Q: I’m a new Realtor, and I’m guessing that my
questions are asked frequently. Is there another
option for me instead of calling the Legal Hotline?
A: Yes. Check out these legal FAQs in the “Ask an
Attorney” section of floridarealtors.org. Legal
Hotline attorneys have compiled questions and
answers in these categories:
Advertising
Appraisals
Broker Business
Brokerage Disclosure
Code of Ethics
Commercial Lien
Commissions
Complaints
Condominium
Contracts
Disclosure
Escrow
Fair Housing
Federal Law
Landlord/Tenant
License Law
continued
Are You Using Your FREE Benefit? (Legal Hotline)
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Q: How are Legal Hotline calls processed?
A: Calls are taken in the order they are received. You may have to wait “in line” for your call to be
answered. Last year, the Legal Hotline handled more than 30,000 calls!
Q: My seller/buyer has asked me a legal question. May I ask the Legal Hotline attorney for the answer?
A: No. The advice given on the Legal Hotline is intended only for use by the individual Florida Realtors
member. Parties to a transaction who have a specific question about their legal rights should consult their own
attorney.
Q: An agent with whom I am having a commission dispute called the Legal Hotline to ask for advice about the
dispute. May I also call the Legal Hotline for advice on the same dispute?
A: No. The rules of the Florida Bar prohibit the Legal Hotline attorneys from counseling more than one side of
a dispute.
Q: May I email a question to the Legal Hotline?
A: Yes. Legal questions may now be emailed to the Legal Hotline. Members will receive a live callback from a
Legal Hotline attorney. Ask a question now. (login required)
Q: Is the Legal Hotline a substitute for private counsel?
A: No. Members who require representation in lawsuits, the drafting of specific language or documents or
resolution of problems going beyond the scope of real estate law should consult their own attorney.
Save time: Ask a legal question online
Legal questions may now be emailed to the Legal Hotline. Members will receive a live callback from a Legal
Hotline attorney. Ask a question now. (login required)
Florida Realtors Contracts in Braille and Audio
As you may know Florida Realtors has a Diversity Committee and the task of the Committee is to identify diversity and fair housing education needs and goals, to promote changes in real estate business practices to reflect the growing cultural diversity within the United States, and to share diversity knowledge, expertise, analysis and information with other Florida Realtors® committees as appropriate. One of the tasks of the Committee was to get Florida Realtors contracts translated in Braille and Audio for the visually impaired. Please make sure your members are aware of these
translations. They can be found on Florida Realtors website.
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Broker Accountable for Affiliate Negligence
Crumpton v. Grissom
In Crumpton v. Grissom, a Tennessee appellate court found that a managing broker
(“Managing Broker”) could be held accountable for the misrepresentations and negligence of
an affiliate broker (“Affiliate Broker”), even though the Managing Broker was not personally
involved in the transaction.
After closing on a mixed-use property, plaintiff Reid Crumpton (“Buyer”) discovered that a
five year non-compete clause in an addendum to the real estate sales contract had been
excluded from some signed copies of the contract. The non-compete clause affected Buyer’s
ability to conduct his business on the premises. Buyer sued Affiliate Broker and Managing
Broker, alleging that Affiliate Broker had made misrepresentations and been otherwise
negligent in regard to the sales contract, and that Managing Broker had breached her duty to
supervise the Affiliate Broker in the transaction.
The trial court entered summary judgment in favor of Managing Broker, holding that she had
no knowledge of the substance or details of the transaction, and that “neither Tennessee
statutes nor Tennessee case law suggests that managing brokers’ duty to supervise their
affiliates can create liability on the part of the managing broker where the managing broker
has no direct involvement with or knowledge of the transaction.”
Buyer appealed the trial court’s ruling, and the appellate court reversed and assessed the costs
of the appeal against the Managing Broker. In its opinion, the appellate court stated that
under the Tennessee Real Estate Broker License Act, it is the unambiguous duty of a
managing broker to ensure that her subordinate licensees “conduct their business in
accordance with appropriate laws, rules, and regulations.” In this case, held the appellate
court, Managing Broker had clearly owed such a duty to Buyer, and had failed to produce any
evidence that she had satisfied this duty.
In short, stated the appellate court, the trial court’s erroneous ruling would, if put into
practice, allow managing brokers to avoid their statutory duties “by simply and purposefully
remaining ignorant of the substance and details” of a subordinate licensee’s transactions.
Crumpton v. Grissom, No. E2013-00218-COA-R3-CV, 2013 WL 6835154 (Tenn. Ct. App.
Dec. 23, 2013). [This is a citation to a Westlaw document. Westlaw is a subscription, online
legal research service. If an official reporter citation should become available for this case, the
citation will be updated to reflect this information]. Taken from AEINS.Realtor.org
03/13/2014.
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We are having the kick-off meeting for the Business Partner Showcase on April 23, 2014 @ 11:30 AM in the conference room at THE RACC. Please RSVP to either Robert Rodriguez [email protected] or
myself at [email protected] by Friday April 11, 2014.
We encourage everyone to attend and get involved. This meeting will be for gathering ideas and picking a
theme for the event. So please be sure to bring all your wonderful ideas with you.
Lunch will be provided
Hope to see you there and we’re looking forward to a INCREDIBLE 2014 BUSINESS PARTNER SHOWCASE!
Thank you!
Melissa & Robert
Great American Realtor® Day
Thirty three Realtors, Business Partners and Guests boarded the bus at
7:00 a.m. on Wednesday, March 19th for Tallahassee. After arriving
everyone gathered at the courtyard for lunch and entertainment.
At 1:00 p.m. we met with Representative, Jimmie T. Smith. He talked
about the tax on commercial leases and the economy of Citrus County.
Everyone then proceeded to the Governor’s mansion for a very
informative tour. Governor Scott and his wife hosted the Florida
Realtors® the night before; therefore, we were unable to see the
Governor. DVP Cheryl Lambert was at the mansion on Tuesday night, and stated it was a very nice reception.
Next we were hosted by Senator Charlie Dean. Senator Dean is asking for money to clean the Citrus waterways as
well as reducing the tax on Commercial Liens. He will fight for The Sadowski Trust Fund not to be raided and be used
for low income housing.
The block party as usual was a big hit. Fried oysters, steamed shrimp, Cubans, black beans and rice, chicken strips and
desserts were just a few of the items on the menu. There were several food and drink stations for the members to
enjoy.
Hope to see all of you in Tallahassee next year.
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BUSINESS PARTNERS
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Education Connection Corner:
The court case that ruled that enforcement of
restrictive covenants violates the Fair Housing
Act was the City of Edmonds v. Oxford House
____ True ____ False
HUD has declared it illegal to volunteer
information regarding a current or former
occupant’s disease of AIDS.
____ True ____ False
Email your answers to [email protected] ,
we will draw a winner and that person will
receive a $10 RACC gift Card to use at
Education Classes, RACC Store and
Membership Meeting
Testimonials:
2/27 & 2/28~ 14HR CE Class: Mr. Pilon
gives very informative information. A very
interesting class and great experience with his
many years in the field.
3/11~ Contracts (Part of Orientation): John
does a great job. Very informative and easy
to listen to.
MLS Tidbit:
There have been two new fields added in
Coded Features under Showing:
Lock Box – Supra
Lock Box – Combo
As of April 1, 2014 the fields Lock box call
and lock box will be removed from coded
features (showing). If you have these fields
checked in Innovia on your current MLS listings,
please change prior to April 1, 2014
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MLS WARNINGS AND FINES FOR MARCH
In March the MLS issued the following to Participants and/or Subscribers: Warnings: Duplicate Listing (0) Wrong Category or Area (9) Pending and Closed (1) Lender owned (0) No Photo (3) Branded Virtual Tour (0) Lockbox Code in Listing (0) Name/Phone# (0) Sign in Photo (0) Alt Key (0) Fine: (0) Violation of the same offense will be subject to the following:
1st offense: Written Notice
2nd offense: $50.00 Fine
3rd offense: $100.00 Fine
• Failure to submit contingent, pending and closed information within two (2) business days.
• Failure to enter a photo. Note: The seller may request in writing a photograph of the property not be included.
• Failure to enter a listing in the correct category.
• Duplicate address and/or alternate key for the same property.
Have you been to www.raccfl.com lately?
After you login (using your MLS login info) you can register for classes, pay any invoices you may have, find videos of past classes, visit the RACC Library and so much more.
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April
201
Sun Mon Tue Wed Thu Fri Sat
1
Top Producer
Panel 9:00am
RPAC Comm
9:00am
2 3
Bd
Directors
8:30am
4 5
6 7 8
ED Comm
9:00am
Broker & Office
Mgr Meeting
11:30
9
Tech
Committee
1:00pm
10
Chili
Cookoff
5:30pm
11 12
13
Palm Sunday
14 15
ATE
Prospect
Manager
10:00am
16
USDA 101
1:00-4:00
3Hrs CE
17 18
Good
Friday
Bd Closed
19
20 21 22
Fair Housing
9-11am
23
Business
Partner Mtg
11:30
24
MLS BD Mgrs
9:00
ICE 3Hr CE
9 - Noon
So you want to
be a Broker
25 26
27 28 29
Tech Talk
1:00-3:00
30
APRIL 2014
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22
0
100
200
300
400
500
600
700
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr
Single Family
Condo
Mobile
Vacant
FEBRUARY and MARCH Residential and Vacant Land MLS Stats
These statistics were taken from the MLS on These statistics were taken from the MLS on
February 28, 2014 March 31, 2014
RESIDENTIAL VACANT LAND RESIDENTIAL VACANT LAND
Active 1826 Active 1780 Active 1744 Active 1796
New 380 New 172 New 384 New 145
Closed 167 Closed 35 Closed 231 Closed 57
Pending 336 Pending 66 Pending 396 Pending 45
BOM 153 BOM 52 BOM 155 BOM 39
Expired 128 Expired 95 Expired 153 Expired 102
Withdrawn 72 Withdrawn 20 Withdrawn 70 Withdrawn 19
Chart displays
Closed listings
Our condolences and deepest sympathy are extended to the following that have lost loved ones recently: The family of
REALTOR® Cheryl Lambert on loss of her Uncle, and Business Partner Jacqui Watkins loss of her Mother, Cecile Meyers.
Sincere Sympathy