CAPITAL AREA REALTOR® • May/Jun 2014 i

R E A L T O R®

CAPIT

AL AR

EA

Official publication for the Greater Capital Area Assocation of REALTORS® sept/oct 2014www.gcaar.com

GCAAR WINNERS- page 6

REALTOR® of the Year

MICHAEL MCGREEVYROOKIE of the Year

CJ RADER

ii CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR® • May/Jun 2014 1

Capital Area REALTOR® (USPS 017-467) is published five times a year by the Greater Capital Area Association of REALTORS®, 15201 Diamondback Drive, Suite 100, Rockville, MD 20850.

Periodicals postage paid at Rockville, MD. Member subscriptions account for $10 of each member’s annual dues. Annual subscriptions are available to non-members for $25. Subscription inquiries may be sent to Capital Area REALTOR® at the above address.

POSTMASTER: Send address changes to Capital Area REALTOR®, ATTN: GCAAR, 15201 Diamondback Drive, Suite 100, Rockville, MD 20850.

The Greater Capital Area Association of REALTORS® makes no warranties and assumes no responsibility for the accuracy of the informa-tion contained herein. The opinions expressed herein do not necessarily reflect the opinion of the officers, directors, or staff of the Greater Capital Area Association of REALTORS®.

The Greater Capital Area Association of REALTORS® accepts submissions of articles and photographs and the items become the property of the Greater Capital Area Association of REALTORS®. The publisher reserves the right of full editorial authority and to decline publication of any article not deemed proper. Deadline for submissions, including camera-ready advertising, is the first of the month prior to publication. Reprint with permission only. Reprints may be obtained by contacting the Greater Capital Area Association of REALTORS® at 301.590.2000; via fax at 301.590.2248; or send an e-mail to bbanks@gcaar.com.

REALTOR® is a registered collective membership mark that identifies and may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its Code of Ethics.

Copyright© 2014 by the Greater Capital Area Association of REALTORS®.

All rights reserved.

15201 Diamondback Drive, Suite 100 • Rockville MD 20850Phone: 301.590.2000 • Fax: 301.590.2248 • www.gcaar.com

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R E A LTOR®

CAPIT

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EA

sept/oct 2014

in every issue2 Ask the President

5 GCAAR Cares

8 NAR Director’s Report

10 Membership Corner

10 Meet Your GCAAR Committees

16 Housing Statistics

20 Legal Hotline

21 Technology

22 RPAC

23 Public Policy

26 MRIS

27 Education Schedule

features3 Family Fun Day and Picnic

4 Unlock the Value of Home Efficiency Upgrades

6 REALTOR® and Rookie of the Year

7 2015 GCAAR Annual Dues

9 Quiz: What Do You Know About Prospecting?

12 GCAAR Members Elected to Officer Positions at MAR Elections

14 REALTOR® Fest Highlights

15 GCAAR Bids Fond Farewell to Sandy Hargis

EXPERIENCE THEEXPERIENCE THEADVANTAGES OF ANEXPERIENCE THEADVANTAGES OF ANEXPERIENCE THEADVANTAGES OF ANADVANTAGES OF ANADVANTAGES OF ANINTERNATIONALINTERNATIONALREAL ESTATE NETWORKREAL ESTATE NETWORK

What Are You Waiting For? Contact Greg Burns to

Schedule a Confi dential Interview: 888.444.9964 ext.22

Info@JoinREXLE.com www.JoinREXLE.com

FOUR LOCATIONS SERVING THE METRO DC, MD & VA AREA

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This communication is not directed at anyone under a contractual obligation.

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Efficiency Upgrades – page 4 MAR Elections – page 12 A Fond Farewell – page 15REALTOR® Fest 2014 – page 14

board of directors

Greg FordPRESIDENT

Suzanne Des MaraisPRESIDENT-ELECT

Michael McGreevyIMMEDIATE PAST

PRESIDENT

Michael MoranCHIEF EXECUTIVE

OFFICER

Koki AdasiDavid Bediz

Thom BrockettJamie ColeyTom DaleyDorie Glass

Peg MancusoSECRETARY

Tim KnoblochTREASURER

Capital Area REALTOR® Magazine

Jacque GrenningSally Hamidi

Gwen HendersonVicky Lobos-Kirker

Hildy PollardPat Weed

directors

Q: I used to love going to Rookie events – why did you get rid of them?

A:Thank you for your question - we love to receive feedback on our events. It’s good to know that we are offering something you find of value. Rest assured, we have not done away with the free, members-only, non-CE, professional development sessions - we just renamed them. We found that both experienced as well as new agents were attending our “Rookie” events. Even some managers were coming to gather information and ideas they could bring back to their offices. As the series was drawing both the veterans as well as the Rookies, we changed the name to the Professional Enrichment Series. It’s still for GCAAR members only, and it’s still free. Check out the full fall calendar of offerings at gcaar.com and click on Classes/Events. Don’t forget to register ahead of time so we know you are coming!

Q:The Maryland State government is making it harder and harder for REALTORS® to do business in this state! Why don’t the REALTOR® asso-ciations do anything about it?

A:Thank you for your question. GCAAR members work in two of the most regulated jurisdictions in the country. There are a lot of rules, laws, and regulations dictating how we do business, and there are changes every year. On all three levels of the REALTOR® associations – local, state, and federal - we advocate on your behalf for real estate-friendly laws and reg-ulations. Sometimes we win, sometimes we lose, but we are always in the game, working for you.

This year alone we had several victories in Maryland, including lowering the mandated interest rate on rental security deposits, eliminating strict liability for landlords in cases involving pit bulls owned by tenants, and unifying the state’s estate tax credit with that of the federal government.

Lobbying is a primary pillar of all REALTOR® associations’ missions. While it’s often less top of mind than fulfilling your CE class requirements or replacing the batteries in your lockbox that just died, political advocacy is critically important to the future of our business.

For more information about our efforts, I encourage you to check out the public policy section of this magazine, read GCAAR’s biweekly “Real Advocacy” e-newsletter, or visit gcaar.com and click on the News/Legisla-tive tab.

Bobette BanksMANAGING EDITOR

Deborah BellASSOCIATE EDITOR

Arlene BraithwaiteADVERTISING REPRESENTATIVE

Carla ConwayDESIGN & LAYOUT

2 CAPITAL AREA REALTOR® • Sept/Oct 2014

GCAAR Hosts First Annual Family Fun Day and PicnicGCAAR members and their families did not let a little “liquid sunshine” stop them from enjoying the first annual Family Fun Day and Picnic at Smokey Glen Farm on August 12. Attend-ees enjoyed delicious barbecue chicken and roast beef, yummy sides and desserts, while they danced, hula hooped, did the limbo, and played board and outdoor games. A good time was had by all!

A few drops of rain didn’t stop a game of miniature golf!

ask the president GCAAR happenings

CAPITAL AREA REALTOR® • Sept/Oct 2014 3

Picnic attendees enjoy the day.

2010 GCAAR President Shelly Murray with GCAAR member Harold Huggins.

Hula hoops, limbo, and line dancing!

GCAAR cares

5th Annual GCAAR Cares Silent AuctionA Big Win

CAPITAL AREA REALTOR® • Sept/Oct 2014 5

GCAAR Cares member and Silent Auction Subcommittee Chair, Dina Paxenos, was also a prize winner at the main REALTOR® Fest drawing.

Success! That’s the word to describe this year’s 5th Annual GCAAR Cares Silent Auction held at REALTOR® Fest! On Tuesday, July 22, GCAAR Cares displayed nearly 60 auction items, raising more than $7,400! This year’s prize drawing of $200 worth of scratch-off lottery tickets and a bottle of wine brought in over $1,000! As always, GCAAR Cares member and Silent Auction Subcommittee Chair, Dina Paxenos, did a fabulous job organizing the event, choosing a fun fiesta theme.

Thanks to everyone, particularly our GCAAR Cares Commit-tee, members, donors, and staff, for making this year’s silent auction a wonderful event and great success.

GCAAR Cares Committee member Marlene Trimble (far left) checks out the plethora of donations at the Silent Auction table.

SAVE A LIFE. DONATE BLOOD.

MONDAY,

November 3, 201410AM - 3:30PM

GCAAR Classroom in Rockville

Interested in donating blood?

Please send your name, phone number, and the time you want to donate to Deborah Bell at DBell@gcaar.com.

All donors must be pre-registered.

BLOOD DRIVE

Energy-efficient homes are growing in popularity. Sell-ers want to market their upgrades to buyers look-ing for homes that can save energy and money. Tools for REALTORS®, developed by Savenia, detail home efficien-cy upgrades that can help connect sellers and buyers and provide an edge in the market place.

Efficiency Upgrades SoarWith continued utility incentives, tougher government efficiency standards and rising public awareness - millions of homeowners are installing efficiency upgrades. By 2018 some 60% of homes for sale will contain at least one “promotable” efficiency upgrade – upgrades that are more efficient, save money, and cost more to buy than those in the average house.

REALTORS® Marketing “Efficiency”Many REALTORS® now market efficiency upgrades in their list-ings. Up to 10% of listings mention key words like tankless water heater, solar, high-efficiency HVAC, low-e windows, Energy Star appliances, and others. As more buyers look for these features, this will continue to grow.

Buyers InterestedA large study from the National Association of Home Builders shows home buyers are highly interested in saving money on util-ities. Some of the most wanted features involve saving energy, for example – Energy Star-rated appliances and windows, etc. Buy-ers will pay $7,000 more upfront for every $1,000 they save per year, and most want to see projected home operating costs before they buy. For buyers – this means money from utility savings and pride from a reduced environmental footprint.

Home Prices RespondSeveral groundbreaking studies analyzing real estate transac-tions show that efficient homes that are green rated sell for a premium (+9%) and have lower mortgage default risks. Homes with solar panels sell for premium prices, while green rated rental and commercial buildings are also securing higher rents. Whole Home Vs. System-by-System Upgrades Much of the focus has been on whole home retrofits, while most sellers have done only a few improvements over the years. Savenia has developed the tools to help home sellers capture the value of individual upgrades.

Not surprisingly, solar tops the list by making money for home-buyers in most states, but can also generate tens of thousands in

4 CAPITAL AREA REALTOR® • Sept/Oct 2014

savings or more. This is in addition to the market value of the pan-els on the roof. Newer, purchased systems often generate more for the buyer, but leased systems contain plenty of value with positive cash flow and environmental benefits.

After solar, valuable savings can come from many common home efficiency upgrades, and when cost savings are added to the pre-mium price to purchase these systems, the numbers get very big indeed (see Figure 1).

How to Start—Here is a list of suggestions that can help you highlight the efficiency upgrades in your listings, differentiate your service, sell faster and capture more value.WALK THROUGH - Look for newer (<3 years) appliances and LED/CFL lighting during the walk-through – and ask about any high-efficiency upgrades, rating labels.

LISTING PRESENTATION - Mention at the listing presentation that you can promote the key efficiency upgrades where the homeowner has made investments. Incorporating these into key words and materials gets buyer attention. DOCUMENTATION - Ask the homeowner to list recent efficiency upgrades including the year installed and cost. This information is helpful for potential buyers. Savenia provides a checklist that can help you get started here (http://goo.gl/fFe9be).PRE-SALE PREPARATION - During touch-up work and general repairs, consider low cost upgrades to LED / CFL lighting, effective even in older homes to save money for the new buyer.MARKETING MATERIALS - Point out the efficiency upgrades in market-ing materials. Use real numbers where possible to show long-term savings, earnings, and installation value. Make it clear that these should be pointed out during showings.

Unlock the Value of Home Efficiency Upgrades

By John Jabara, Founder, Savenia

ABOUT SAVENIA Savenia helps REALTORS® and homeowners unlock the value of home efficiency upgrades. Savenia provides home sellers with customized Home Rating Labels, marketing materials and online marketing to sell faster, provide high-er client service, and capture the full value of homes for sale. www.saveniahome.com – 1-855-SAVENIA

E: info@saveniala

F I G U R E 1

Efficiency Value by Upgrade vs. Average Home – 15 YearsSource: Savenia Labs 2014

System Type Savings / Earnings Installation Value Solar PV Systems Up to $50,000+ $20,000+ HVAC/Building Shell High Efficiency HVAC, Well Insulated Up to $10,000+ $2,000 - $5,000+ Water Heater Tankless, Solar, High Efficiency Gas, Heat Pump Electric Up to $8,000 $1,000 - $15,000

Lighting LED/CFL Up to $8,000 $500 - $2,000 Appliances 3 Years Old, Energy Star Up to $2,000 $2,000 - $20,000

CAPITAL AREA REALTOR® • May/Jun 2014 7

GCAAR news

2014 GCAAR REALTOR® OF THE YEAR

CJ Rader Captures the Top Rookie SpotGCAAR is pleased to announce CJ Rader as its 2014 Rookie of the Year. CJ is an agent with Long & Foster REALTORS® in Silver Spring, MD., and has been a REALTOR® since 2012. CJ was named as one of REAL-TOR® Magazine’s 30 Under 30 for 2014.CJ is active both professionally and in the community. In addition to being a mem-ber of GCAAR’s Events Committee, she

organized the annual community service day where her entire office volunteered at DC Central Kitchen, preparing food for the homeless and families in need. She also participates in GCAAR’s annual Rebuilding Together® project and Long & Foster’s Toys for Tots campaign.

Originally from Neenah, Wisconsin, CJ moved to DC to attend American University in 2003. In 2010, CJ enlisted Koki Adasi as her REALTOR® to help her achieve her dream of home owner-ship. She enjoyed the home-buying process so much that she decided to follow her passion for real estate and join Koki’s team at Long & Foster. Since 2012, CJ has become a top producer in the downtown Silver Spring office and in 2013 she and Koki were named Long & Foster’s Overall Top Team for the Montgomery County Region.

CJ and her husband Matt were married this year in her Wis-consin home town. They live in NE, Washington, DC and enjoy taking advantage of all the new restaurants and developments in the area. They also enjoy traveling, walking with their dog Inky, and keeping up with their DC rental property.

“CJ is an outstanding REALTOR®. During my four month-long search, CJ remained personable and professional in what oth-erwise might have been a frustrating situation. When I lost out on a few properties she suggested a new strategy that ultimately resulted in me closing on my dream home this month. I could not have asked for a better REALTOR® than CJ to represent my interests,” said Justin Kafka, one of her clients.”

Michael McGreevy Named REALTOR® of the YearGCAAR is pleased to name Michael McGreevy as its REALTOR® of the Year for 2014. Licensed since 1985, Michael is cur-rently a manager with Long & Foster Real Estate for the two top-producing offices – Silver Spring Downtown and College Park, and co-manages the Potomac Cabin John office. During Michael’s tenure at Long & Foster Real Estate, he has earned “Manager

of the Year” awards consecutively since 2006.

Michael is a native Montgomery County Resident and currently resides in Silver Spring, MD. As a graduate of GCAAR’s Inaugural Leadership Institute in 2005, Michael continues to serve and con-tribute to the GCAAR membership.

He also serves as a director for the Maryland Association of REALTORS® (MAR) and the National Association of REAL-TORS® (NAR). In December of 2013, Michael was installed as a Board member for the District of Columbia Association of REAL-TORS® (DCAR). Michael was GCAAR’s 2013 President, and has served on sever-al GCAAR committees, including the Budget, Executive, Ethics, Grievance, Professional Standards, Rookie, and YPN committees. Michael is active in his community as well, chairing a United Way Campaign to raise funds to serve Montgomery County’s at-risk youth. He also Co-Chaired Montgomery County Govern-ment’s Commission on Children & Youth, and has volunteered for (and continues to do so with) Food & Friends, Habitat for Humanity, Whitman Walker’s Annual AIDS Walk, Silver Spring’s Shepherd’s Table, Mental Health Association of Montgomery County, Rebuilding Together®, Special Olympics, Hispanic Her-itage Foundation, CASA, and The National Center for Children and Families.

“Michael is a make it happen kind of leader,” says, Koki Ada-si, Associate Broker in Long & Foster’s Silver Spring office. “He provides a very easy and healthy environment for agents to work in, and is willing to reach deep into his decades of experience to help in a situation. He has demonstrated to me through his own actions the importance of being a part of my local association.”

6 CAPITAL AREA REALTOR® • Sept/Oct 2014

2014

2014 GCAAR ROOKIE OF THE YEAR

Be on the lookoutYour 2015 GCAAR Annual Dues invoice was posted online at www.gcaar.com. Unlike MRIS, GCAAR does not keep cred-it card account information on file; all payment account details must be submitted each billing cycle. GCAAR accepts all major credit cards (American Express, Discover, Master-Card, and Visa), personal/corporate checks, and money orders. We do not accept cash payments for dues.

Payment options include:• PAY ONLINE – Paying with a credit/debit card online at

gcaar.com, where your invoice may be viewed, printed, and paid using our secure online payment system. You will receive an instant e-mail receipt if payment attempt is successful.

• FAX – Faxing a credit/debit card payment directly to our Accounting Department at: 301.296.2188 Please provide a contact number and email address, along with payment.

• MAIL – Mailing payment to our Rockville location below: GCAAR Attn: Annual Dues 15201 Diamondback Drive, Suite 100 Rockville, MD 20850

Please note: In March 2014, GCAAR closed its Silver Spring office and moved to the above address. If your corporate office

is mailing a check on your behalf, please confirm that they have updated their system with our new address above.)

• PAY IN PERSON – Paying in person at either of our office locations (Rockville or Washington, DC) by close of business on Wednesday, November 26. Please consult our website for hours of operation. (Our Rockville location is open most Satur-days to provide service to our members.)

GCAAR does not take payments over the phone.

Payments postmarked on or before November 30, 2014, and received after this date, will not be considered timely. The easi-est, quickest, and most secure way to pay your dues is online at gcaar.com. As of December 1, 2014, all outstanding accounts will incur a $25 late fee.

If payment is not received by December 31, 2014, a $150 rein-statement fee will be placed on outstanding accounts. At that time, membership privileges, including SentriLock card ser-vices, will be suspended until full payment is received.

Billing Inquiries? Please contact our Accounting Department at 301.590.8781 or at membershiprecords@gcaar.com.

2015 GCAARAnnual DuesDeadline: Sunday, November 30, 2014

DC Area Sees More Homes Than BuyersWTOP RadioSeptember 15, 2014“Contracts may be down, but there are a lot of proper-ties on the market, according to data from the Greater Capital Area Association of REALTORS®.”

D.C. Developers Take Townhomes to New HeightsThe Washington PostJune 22, 2014“That’s well below what it should be. It should be six months — that’s what the industry tells us is a stable market for both the buyer and seller.” —Tom Daley, GCAAR Board Member

Good Credit 101The Washington Post Express June 18, 2014GCAAR President Greg Ford and Board Member Tom Daley featured

GCAAR in the news

• P A Y M E N T M U S T B E R E C E I V E D B Y N O V E M B E R 3 0 , 2 0 1 4 •

CAPITAL AREA REALTOR® • Sept/Oct 2014 7

8 CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR® • May/Jun 2014 9

director’s reportNAR

Secure your “Dot REALTOR®” Web Address – October 23, 2014Today most website addresses that end with the domain extension .com, and you’ve probably seen others that end in .org, .edu, and .gov. But, did you know that hundreds—if not thousands—of new domain extensions will exist soon? New domains will allow con-sumers to search the Internet in an entirely new way, and NAR is here to help you get in on the action.

NAR has secured the new .REALTOR domain. Only REALTORS® can use .REALTOR domains, making it the clearest way to show consumers you are a member of NAR, you adhere to a higher standard of ethics, and you are a source they can trust.

Claim your .REALTOR® domain beginning October 23, 2014 by creating an account at www.claim.REALTOR. The first 500,000 members to register will receive a free .REALTOR domain for one year. For more information, visit www.about.REALTOR.

“Real People” Advertising CampaignIn July, NAR launched a new advertising campaign, “Real People,” targeting the new generation of home buyers entering the real estate market. The campaign is a part of NAR’s $35 million annual advertising effort and includes a comprehensive public relations effort, “Real Insight.” realtor.com® is concurrently running a multimillion dollar advertising campaign, “Accuracy Matters,” emphasizing that realtor.com® provides the most accurate, up-to-date and comprehensive real estate listings and content available online. Together, these efforts will showcase the value of local knowledge and accurate data available to consumers through REALTORS® and realtor.com®.

In Full Swing – 2014 REALTORS® Conference & Expo – November 7 - 10, New Orleans100 education sessions. 400 exhibitors. 17,000 REALTORS® and guests. NAR’s annual convention is the largest gathering of REALTORS® nationwide. It’s a chance to learn from the best in the business, swap ideas with colleagues here in the U.S. and internationally, and renew your energy and excitement about our amazing profession.

For international attendees, the REALTORS® Conference & Expo includes 100 education seminars (some with translations), 400 exhibitors and special events like the International Night Out & Awards Ceremony. Also, attendees can meet real estate

Michael McGreevy2014 Immediate Past President, NAR Director

professionals from more than 60 countries in the International Networking Lounge, and see properties from around the world at the International 2nd Home & Resort Pavilion.

Attendees love it“As someone new to real estate, I found the conference to be very informative. I attended numerous educational sessions that gave me tools to assist in building my business, including tips on maximizing my profit margin, effective marketing strategies to grow my business, and more. I look forward to attending the 2014 REALTORS® Conference & Expo in New Orleans.” – Melia Downey, Sunny Mountain Realty, Pine, AZ

“The REALTORS® Conference & Expo is the best conference in the world for real estate agents, regardless of whether you are in sales, property management, or have your own real estate busi-ness. I have been attending every year for the past 10 years, and it is now the only conference I will attend. I travel all the way from Australia and find great value. It’s invaluable to my business and me, and, in turn, my team and clients.” – Jo-Anne Oliveri, ireviloution intelligence and International PropertyManagement Academy, Brisbane, Australia

If you haven’t ever been to an NAR conference, this is the year to go. Join us in the Big Easy! For more information and to register, visit realtor.org.

8 CAPITAL AREA REALTOR® • Sept/Oct 2014 CAPITAL AREA REALTOR® • Sept/Oct 2014 9

NEW ORLEANSNOV 7-10, 2014

You’re probably getting listings, but you could do more. Review REALTOR® Magazine’s Online Prospecting Tool Kit.

???What Do You Know About Prospecting?Q.1 Salespeople should prospect only when times are slow. m True m False

Q.2 It’s OK to tell prospects you have a buyer for a certain type of house even if you don’t have such a client. m True m False

Q.3 One out of every five FSBOs eventually uses a real estate professional to sell their homes. m True m False

Q.4 You can call your past clients for up to two years after the last transaction. m True m False

Q.5 You can call a FSBO seller whose number is listed in the National Do-Not-Call Registry in an attempt to obtain the listing. m True m False

Q.6 Home builders often sell the homes they build themselves, so they seldom are a good source of business for the salesperson. m True m False

Q.7 Using codes to track the effectiveness of your prospecting efforts is the best way to determine which methods are most effective. m True m False

Q.8 Salespeople should stick to only one form of prospecting so that they can track the effectiveness of the method more easily. m True m False

TRUE OR FALSE

quiz

???Correct answers on page 21

CAPITAL AREA REALTOR® • May/Jun 2014 11

Meet Your GCAAR Committee: CommunicationsOne of GCAAR’s greatest challenges is cutting through communication clut-ter. The Communications Committee figures out the best way to let you know what you need to know. They also review, recommend, and contribute editorial content for print and online communications. The committee meets monthly, usually with an August break.

Meet Your GCAAR Committee: EducationThe Education Committee’s mission is to provide members with the resourc-es, education and training necessary to advance the careers of REALTORS®. The Committee researches and recommends which designation courses to offer and suggests topics, speakers, and sponsors for non-CE classes, including green trends, rookie education, and manager/broker forums. The committee meets monthly.

meet your GCAAR committees

RosterDanai Mattison, ChairJoy Liberti, Vice ChairHildy Pollard, Board liaisonJames Cieplenski

L-R: Communications Committee Chair Danai Mattison with 2014 Past President Michael McGreevy (stand-ing in for Joy Liberti).

RosterAnn Johnston, ChairLeslie Dembinski, Vice ChairJamica BrowneLarry CalvertBruce CottingThomas Daley Philip Dickson Gregory FlynnDorie Glass

Dana HillVimal Kapoor Victoria Lobos-KirkerMoquit MalikBarbara MaloneyJill MichaelsRobert MosesChad OlderVictoria Poe

Linda Robinson Majorie Rosner William RozekStacey Sauter Lili SheelineSandra SugarShahnaz Tehraniazad

Tina Del CasaleJerri JonesMatthew MurtonWilliam Stein

10 CAPITAL AREA REALTOR® • Sept/Oct 2014

membership corner

SentriSmartTM Mobile App Now AvailableNow access a lockbox key compartment with the use of a mobile access code instead of a SentriCard®. You can get auto-matic listing assignments, instant showing notifications, and SentriCard® renewal codes via your smartphone and/or tablet. The cost? It’s FREE to GCAAR REALTOR® members! Visit the SentriLock section of gcaar.com , under the Tool Kit for more information.

Prevent SentriCard® Service InterruptionGCAAR would like to remind brokers and agents to not provide your SentriCard® or PIN number to another agent, assistant, family member, etc. If a customer ser-vice representative becomes aware that your card is in possession of an “invalid cardholder,” your SentriCard® will be ter-minated, immediately. Your card will not be reactivated until you visit a GCAAR office with a valid photo ID. This policy has been implemented as a security fea-ture. For SentriLock rules and regulations, please visit our website at gcaar.com.

In-Store Sale November 2014 While supplies last, all REALTOR® logo apparel will be 25% off during the month of Novem-ber. Visit one of our two locations for polo shirts, T-shirts, knit jackets, caps, and much more.

CAPITAL AREA REALTOR® • May/Jun 2014 13

GCAAR members and past leaders were elected to officer positions on the Maryland Association of REALTORS® (MAR) Board of Directors at the State Association’s annual conference held in Ocean City, Maryland, September 8 – 10. 2012 GCAAR President Bonnie Casper was installed as President-Elect; 2010 GCAAR Pres-ident Shelly Murray was installed as Secretary; and former MCAR and MAR President Carole Maclure was installed as Treasurer.

2015 MAR Leadership Team: L-R: 2015 President, Janice Kirkner; Treasurer, Carole Maclure; MAR CEO Mary Antoun, President-Elect, Bonnie Casper. Back Row: Secretary, Shelly Murray; Immediate Past President, Russ Boyce.

12 CAPITAL AREA REALTOR® • Sept/Oct 2014

Shelly, Carole, and Bonnie begin new MAR duties.

Congratulations after the oath is taken.

New MAR Leadership is installed. L-R: President-Elect Bonnie Casper; Treasurer, Carole Maclure; Secretary, Shelly Murray; and Immediate Past President Russ Boyce.

“We’re very honored to represent our REALTOR® associates from all across the state as officers of the Maryland Association of REALTORS®. It’s a great organization and we are grateful for the opportunity to give back to the profes-sion that we all hold so dear. We look forward to serving with President Janice Kirkner and Immediate Past President Russ Boyce,” said the newly-elected officers.

GCAAR Members Elected to Officer Positions at MAR Elections

President-Elect, Bonnie Casper

Treasurer, Carole Maclure

Secretary, Shelly Murray

2015 MAR Officers

Commission Plans Suited for Professionals!

100% for only $395/month OR 80/20 Split with no monthly fee!

* * PLUS * *We offer all the latest real estate marketing and business tools at NO ADDITIONAL COST!

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What Are You Waiting For? Contact Greg Burns

to Schedule a Confi dential Interview:

888.444.9964 ext.22Info@JoinREXLE.com

www.JoinREXLE.com

Four Locations Serving the Metro DC, MD & VA area

Tysons Corner, VANorth Bethesda, MD

Gaithersburg, MD Silver Spring, MD

EXPERIENCE THEEXPERIENCE THEADVANTAGES OF ANEXPERIENCE THEADVANTAGES OF ANEXPERIENCE THEADVANTAGES OF ANADVANTAGES OF ANINTERNATIONALINTERNATIONALINTERNATIONALREAL ESTATE NETWORKREAL ESTATE NETWORK

CAPITAL AREA REALTOR® • Sept/Oct 2014 13

14 CAPITAL AREA REALTOR® • May/Jun 2014

GCAAR newsGCAAR Bids Fond Farewell to Sandy HargisIf you’ve been to GCAAR over the past several years, chances are you met Sandra “Sandy” Hargis, GCAAR’s former Executive Ser-vice Coordinator. Sandy, who joined GCAAR in 2006, was the “right hand” to CEO Mike Moran, and also served as staff liaison for the Contract and Clause and Property Management Commit-tees. GCAAR members, friends, and staff gathered at Café Deluxe on July 29 to say goodbye to Sandy who retired on August 1.

We wish Sandy all the best as she begins an exciting new phase of her life in Myrtle Beach, SC.

Sandy taking it all in.

Sandy cuts her cake.

Sandy with GCAAR Board member Vicky Lobos-Kirker, Past President Bonnie Casper, and Board member Jacque Grenning.

THANKS AGAIN to all of our sponsors and attendees for their support of this year’s event.

Don’t miss REALTOR® Fest 2015!

REALTOR® FestGCAAR Attendees came back in full swingGCAAR was back at the North Bethesda Marriott on July 22 for this year’s REALTOR® Fest. NAR’s new Military Relocation Professional (MRP) certification class was added to the line-up as attendees earned their mandatory CE credits for Maryland, DC, and Virginia.

Here are a few highlights: • Sold-out trade show with over 55 vendors • $5600 in prizes awarded • GCAAR CARES Silent Auction with nearly 60 auction items which raised over $7,400

Attendees enjoyed a day of education and networking with dynamic instructors, exhibitors, and relevant courses.

14 CAPITAL AREA REALTOR® • Sept/Oct 2014

v

GCAAR Installation December 3s a v e t h e d a t e

Wednesday, December 3, 2014 House of Sweden - 2900 K Street, NW, Washington, DC

v

Join us at the House of Sweden – 2900 K Street, NW, on Wednesday, December 3, 2014,

for the installation of 2015 GCAAR President Suzanne Des Marais and the

Board of Directors. Look for details via email and on gcaar.com.

We hope to see you there!CAPITAL AREA REALTOR® • Sept/Oct 2014 15

16 CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR® • May/Jun 2014 17

Montgomery County Sales Market For the month of July, the combined (single-family and condo/coop) sales market showed a weaker performance than in July of 2013. The total unit sales volume came in at 1,059 properties, but that dropped 17% from a year before. The monthly sold dollar volume totaled $558,709,809, and was down over 17.5% from a year before. The average sold price came in at $527,582, down about $2,000 from last year; but, the median price of $429,000 dropped $6,000 or about 1.5% from a year ago. Properties sold in July turned over more slowly than a year ago. Average days on the market totaled 39 – 4 more than in the previous July.

July Single-Family HomesFor the first seven months of 2014, year-to-date settlements and contracts were down significantly from a year ago. The July year-to-date single-family settlements (4,790) came in 7% under the same period in 2013; and, year-to-date contracts (5,512) slipped almost 6% from a year before. The direction of the results was similar for the July monthly figures. Indeed, July settlements (843) were more than 16% below a year before; and, new con-tracts for the month (861) edged down a bit over 1%.

On the other hand, the trend of inventory has been upward. At the end of 2013, single-family active listings totaled only 1,330 homes. However, by July there were 2,594 total actives and these were a whopping 38% above the level of a year before. More-over, the 1,159 property listings for July were 4.5% above those of July 2014. Nevertheless, even with this growth in listings, at the July contracts pace, there was only about a 3-month’s supply of properties.

So far, the 2014 single-family sales pace has been down, but price performance is up from last year. In 2013, the year-end average sales price was $573,281, and the median was $460,000. Through July, the average and median prices were $582,550 and $475,000, respectively. These are up 1.6% and 3.3%, respectively, from the 2013 prices. That does not quite make up for the 2014 unit sales drop; but, 2013 was a huge year for prices and some adjustments are to be expected.

July Condominiums and CooperativesThe July condominium and cooperative market was also a bit flat compared to a year before. Through July, there were 1,496 settled sales – down almost 6% from a year ago. And, for the month, settlements declined almost 22% to only 217 units. July year-to-date contracts also showed declines. Year-to-date con-tracts (1,684) dropped 7% from last July; however, the 287 new monthly contracts rose 4.7%. We’ll have to see how August and September work out, as the market could strengthen by the fall.

Moreover, July inventory substantially exceeded most of the levels of 2013. July condo/coop active listings (597) came in 32% above the level of a year before. And, monthly new listings (335) jumped 12% above the July 2013 figure. Nevertheless, at the monthly contract pace there was only a 2-month supply of properties.

properties, declining about 2.8% from a year ago. However, the monthly sold dollar volume of $496,006,385 rose about 1% from the previous July. The average sold price came in at $655,226, up 3.7%; and the median sold price was $530,000, up about 2%. The average days on the market figure came in at 32, and that was down about 9% from a year before.

July Single-Family HomesThe The Washington, DC single-family sales market has been a bit soft so far in 2014. July year-to-date settlements (2,362) edged down by slightly over 1%, but July new settlements (387) slipped by over 9% from July 2013. The year-to-date performance of contracts was similar, with a recent slight up-tick. July year-to-date contracts (2,592) declined by 1% from a year ago; however, monthly single-family contracts (383) rose by 2.7%.

MONTGOMERY COUNTY & DC

by Fred Flick, PhD, Consultant/Housing Economist

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Compared to the single-family market, the 2014 condo/coop market has shown lagging price appreciation. For 2013, the aver-age price of $269,950 was up almost 7.7% from 2012; and, the median price of $220,000 was 5.6% higher. However, through this July, there has been more demand at the lower end of the market. The average price of $269,335 has slipped about 1%; but, the median of $225,000 edged up 2.3% from 2013.

Washington, DC Sales Market This July, the District of Columbia combined unit sales pace was down substantially compared to a year before. It totaled 757 closed

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listings totaled 649 properties— up almost 2%. Moreover, new single-family listings for the month (491) rose 4.5% from a year before. Accordingly, at the July sales rate, there was only a 1.7-months supply of homes. This is still way below historical norms, but it has helped price appreciation.

Fortunately, price performance has been very good consider-ing the sluggish unit sales record. Home prices through July are up slightly from the end of last year. In 2013, the average DC single-family home cost $711,905 with the median price at $599,900. This translated to appreciation rates over 2012 of 8.6% and 13.2%, respectively. Even with last year’s rises, through July, the average price of $783,460 jumped over 10%; and, the median of $628,750 rose by 4.8%. Appreciation rates will likely soften later this year and into 2015, given cautious homebuyers, low inflation, and low-income growth.

July Condominiums and Cooperatives The DC condominium and cooperative market is holding its own with a positive unit sales trend. Year-to-date July

settlements (2,267) were up over 2% and year-to-date contracts (2,473) rose 1.5% from a year ago. And, July settlements (367) edged up 5.5% from a year before. However, monthly contracts (341) dropped almost 8% from last July.

On the supply side, listings are up strongly from a year ago. This February was the low point at just over 520 properties. But, by the end of July, listings totaled 686 units and were up 13.6% over July 2013. Similarly, the 441 new listings were 3% higher than a year before. Complementing recent history, at the July contracts pace, there was only a 2-month supply of properties. However, again, the shortage of supply has contributed to price appreciation.

With tight supply, condos and coops experienced very good appre-ciation rates in 2013. Annual average and median prices were up 5.9% and 7.5% from their respective 2012 figures. Through this July, prices were still showing positive upward movement. The July average of $469,733 rose 3.3%; the $415,000 median edged up 1.6% from the comparable 2013 figures. These are sustainable rates, given the current economic trends.

National Resale MarketNationwide, total existing home resales in July (most recent) totaled 5.15 million units at a seasonally adjusted and annualized rate (saar). The monthly figure rose 2.4% above June, but was 4.3% below the rate for July 2013. Also, the July median price of $222,900 increased 4.9% from a year before with the $268,700 average rising almost 3.7%. At the end of July, there was a 2.37-mil-lion unit inventory (saar), which represented a 5.5-month’s supply of homes. The month’s supply was up 3.5% from June, and 5.8% above the July 2013 stock. At the national level, supply is finally getting back to a normal range, after the recession.

For the single-family resales market, July sales (4.55 million, saar) were 2.7% above the level of June, but were 4.2% below the pace of July 2013. However, the single-family median price ($223,900) rose 5.1% and the average ($269,500) moved up 3.8% from a year ago. In the existing condo/coop market, sales units (600,000 saar) equaled the June rate, but they were 4.8% below July 2013. Nevertheless, the national condo/coop median price came in at $215,000 – edging up 3.3% from a year before. The average price ($262,700) moved up only 3.2%.

Economic Growth and Jobs The July 30 Bureau of Economic Analysis’ first estimate of second quarter 2014 real GDP growth (the economic growth rate less the inflation rate) came in at a relatively strong 4.0%. Another more complete estimate will be released the end of August. Unfortunately, the revised estimate for the first quar-ter indicated that real GDP growth decreased by 2.1%. This was due primarily to the harsh winter suffered by most of the country, and a cutback in consumer spending.

The July payroll employment report was pretty positive with 209,000 new non-farm jobs. Also, the household survey for the unemployment rate came in with a lower 6.2% rate – down from 10% at the worst of the recession. Nevertheless, unemployment rates among minorities are still high and it is estimated that there are 7.51 million workers employed only part-time who want to be full-timers. The Fed is still sensitive to this concern, but there is no willingness in Congress to pro-vide more stimulus spending.

While the BEA second quarter number was good, the Con-gressional Budget Office just put out a forecast of only 1.5% real growth for all of 2014, due to the economic weakness of the first half. This is quite pessimistic, given that in 2013 the real growth rate was 1.9%. Many economists started out bull-ish on U.S. growth, but growth rates are slowing internation-ally and the troubles in the Middle East and the Ukraine are affecting economic decisions. The Euro-zone countries are not stimulating their economies sufficiently and growth in China and Brazil is slowing.

Monetary Policy, Interest Rates, and Inflation The Fed continues to cut monthly purchases of U.S. Treasury securities and mortgage bonds and is expected to be done with this ‘tapering’ by the end of the year. At this point, it appears they will stick with this strategy unless there is a strong reversal of the growth and employment trend. However, they are continu-ing to say they will keep short-term interest rates low into 2015. Recently bond markets have rebounded and are continuing to keep long-term interest rates relatively low, as the U.S. is the best and safest place to put one’s money. We have low inflation, but a slowly growing economy; however, the growth rate at least equals the rate of inflation. The rest of the world has many problems and can be dangerous for the wealthy. This continues to attract investment funds from abroad.

The stock market has had a ‘bull-on’ for several years now and both the Dow-Jones index and the S&P 500 are hitting new highs. Even the NASDAQ has gotten back a significant portion of the massive loss that it suffered in the internet-tech crash at the beginning of the century. Mortgage rates are down 20 to 40 basis points from a year ago, and there are not likely to be large spikes in rates, even when the Fed starts pushing up on short-term rates next year. Many investors seem to be waiting for a significant correction, but there are not many safe places to put one’s money, and long-term Treasury rates are at all-time lows.

The Bottom LineThe 2014 unit sales market continues to be a bit weaker than in 2013, but price appreciation has offset some of the losses. Never-theless, there will be more flattening out of the appreciation rate. Some of this may be due to the late winter weather, but also to the fact that 2013 was a very good year. Corrections should be expect-ed. Overall, economic growth for this area will likely stabilize as with the rest of the country. The year 2014 should finish respect-ably, but less bullish than 2013. We should continue to moderate our expectations for sales volumes and price appreciation. .

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Monetary Policy, Interest Rates, and Inflation

Economic Growth and Jobs

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20 CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR® • May/Jun 2014 2120 CAPITAL AREA REALTOR® • Sept/Oct 2014

technology

Set It and They Won’t Forget ItThis app will keep your services top of mind while also helping new home own-ers stay on top of maintenance chores.

By Meg White, REALTOR® Magazine

What better way to help clients protect their invest-ment (and remember your great service) than branded home maintenance reminders? HomeKeepr allows you to upload your contact information and a list of your trusted vendors. Then, your clients can download a free, personalized app that will help them remember all those little tasks that can fall by the way-side long after the excitement of closing has passed. Clients answer 15 questions about their home, such

as what kind of air conditioning the home has and the climate the home is situated in, to help the app determine what kind of reminders they’ll need. Users can also call or e-mail you right from the app. Home-Keepr includes a referral function, making it simple for past clients to pass along your contact information to future customers. Starts at $9.99 per month. HomeKeepr, New York [agents.homekeepr.com]

Meg White is the multimedia web producer for REALTOR® Magazine. You can reach her at mwhite@realtors.org.

Reprinted from REALTOR® Magazine Online, Septem-ber, 2014, with permission of the National Association of REALTORS®. Copyright 2014. All rights reserved.

1 – FALSE What’s important with prospecting is to be consistent and do it every day. Don’t wait until you need business. Many experts suggest prospecting one to two hours a day, either by phone or personal contact.

2 – FALSE The REALTOR® Code of Ethics forbids prospecting under false pretenses. Always be honest; if the prospect learns you were lying, you will lose all credibility. Instead you might say that you have had several buyers in the past who found certain of house appealing and that it is a very popular style at the moment.

3 – TRUE The 2000 NATIONAL ASSOCIATION OF REALTORS® Profile of Home Buyers and Sellers found that 28 percent of FS-BOs eventually used a real estate professional. Many FSBOs become frustrated because of the time involved in showing homes and the expense of advertising. They also may realize that the salesperson offers transaction knowledge that makes the sales process easier.

4 – FALSE Any customer or client whom you have an established business relationship with can be contacted by you up to 18 months after the last transaction, unless the person has requested to be placed on your company’s do-not-call list.

5 – FALSE A real estate professional is prohibited from initiating a telephone call to a FSBO seller whose number is listed in the Na-tional Do-Not-Call Registry in an attempt to obtain a listing. The federal rules prohibit anyone from making telephone solicitations to telephone numbers that are registered in the database, and a call initiated to obtain the listing falls within that definition. Real estate professionals, however, can contact a FSBO if they are interested in buying the FSBO property or if they have a buyer interested in the FSBO property. But the conversation should only be limited to the practitioners’ or clients’ interest in the property and cannot turn into a solicitation for the listing.

6 – FALSE Home builders are seldom experts in real estate sales and will usually welcome cooperative venture with an energetic salesperson. Home builders often prefer to concentrate on building rather than sales. Learn more about construction and building terms before approaching a homebuilder for business.

7 – TRUE Tracking responses with codes are the most effective way to determine the success of your marketing effort. Be sure that you determine the source of every response you get — calls, direct mail, walk-ins — and code them into a database for later analysis.

8 – FALSE Cross-marketing — the use of mail, phone, and face-to-face contact to complement each other — is the most effective way to prospect. Experts often suggest sending one to three direct mail efforts and then following up with a phone call or a request for an appointment once you have built some initial name recognition.

Answers to Quiz from page 9???

CAPITAL AREA REALTOR® • Sept/Oct 2014 21

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legal hotline

A

QUESTION: I have a question related to the Disclosure of the Bro-kerage Relationship form (GCAAR #1002). I have seen both listing and selling agents fill this out in every way possible, and I am trying to get a definitive answer as to who signs which parts of the form.

ANSWER: Ideally the person to whom the form is presented will sign the “Acknowledged” section in the box. However, there is nothing that requires a customer to complete this form. If a cus-tomer is unwilling to sign, having acknowledged receipt of the form, for any reason, the agent presenting the Disclosure need only write the name of the party to whom the form was pre-sented and sign at the far bottom (under the box). The intent of the agent signature section at the bottom of the form is for the situations in which the customer will not sign. The purpose of the law, and the form, is to inform customers “prior to providing specific real estate assistance” that the licensee may have a rela-tionship and obligation to another party.

QUESTION: A 90-day Notice to Vacate for possession of a unit for personal use is usually given by the contract buyer. However, it looks like the new notices are instructing the building owner to give the notice and swear they are moving into the unit. Please let me know who is supposed to give the 90-day vacate notice for personal use?

ANSWER: District of Columbia Law Landlord Tenant law pro-vides that a building or unit owner may provide a tenant with a 90-day Notice to vacate the property for personal use and occupancy, either by the owner/seller or by a contract purchaser of the owner/seller. When the owner intends to move into the property him or herself, the owner/seller would use RAD Form 12 “90 Day Notice to Vacate for Personal Use and Occupancy,” and must certify to these facts under oath. If, on the other hand, an owner/seller has contracted to sell the property and the con-tract purchaser intends to move into the property, the owner should use RAD Form 13 “90-Day Notice to Vacate for Personal Use and Occupancy of Contract Purchaser,” and both the owner and the contract purchaser must certify these facts under oath. The owner should give whichever notice is factually accurate. It is important to note that the right to evict the tenant based upon these notices is a completely separate consideration than the rights of a tenant to an Offer of Sale and Right of First Refus-al under the Rental Housing Conversion and Sale Act of 1980 (commonly referred to as “TOPA”)

The answers provided here are the opinions of the authors, are for infor-mational purposes, and are only for GCAAR members. Neither Counselors Title, LLC, nor Pardo & Drazin, LLC is providing legal advice, but rather pro-viding a general statement of law. No lawyer/client relationship is – or will be – established as a result of the material which follows. Readers are encouraged to retain their own counsel for their specific questions. Answers may have been edited for formatting purposes.

By Chris Darby, Tom Muldoon, and John Nalls of Counselors Title, LLC, and Pardo & Drazin, LLC, General Counsel

QUESTION: My client made an offer under the Home Inspection Contingency (GCAAR Form # 1332, Paragraph 2) by delivering notice of certain home inspection items that needed repair, but then had a change of heart and wanted to void the contract. Can they still do so if they are within the 3-day notice period?

ANSWER: The short answer is no, your client cannot unilaterally void the contract if they have already begun negotiating home inspection items. The Home Inspection Contingency allows the Buyer to either negotiate items found in the home inspection report—option A under paragraph 2—or deliver notice declar-ing the contract void—option B under paragraph 2. Once the buyer has chosen either option A or option B, contractually they do not have the right to switch gears and choose the oth-er option. Moreover, under option A, once a notice negotiating home inspection items is delivered to the other party, the party delivering the notice does not have the right to revoke the notice, or otherwise alter it, even if the 3 days has not expired. Once the notice has been delivered, then it’s the other party’s opportunity to determine how it will respond to that notice within the 3 days provided for under option A.

QUESTION: I have a contract with a 5-business day gener-al inspection, which would end on Friday. They are doing the inspection on Tuesday, but plan to do a chimney inspection on Wednesday. Is this ok?

ANSWER: Both Paragraph 2 (“Home Inspection Contingency”) and Paragraph 3 (“General Inspection Contingency (No Right to Negotiate”) of the Addendum of Clauses (GCAAR Form 1332) allow for multiple inspections, as long as they are con-ducted within the time period selected by the parties. Therefore, a purchaser may schedule multiple inspections, as part of the home inspection process, provided all are conducted within this timeframe.

22 CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR® • May/Jun 2014 23

RPAC

Platinum “R” ($10,000)GCAAR

Dale Ross

Golden “R” ($5,000)Bonnie Casper

Ed Krauze

Carole Maclure

Crystal “R” ($2500)Jamie Coley

Fred Kendrick

Jill Pogach Michaels

Michael Moran

Randy Rothstein

Christopher Suranna

Holly Worthington

Sterling “R” ($1,000)Koki Adasi

Charles Burger

Thomas Daley

Suzanne Des Marais

James Downing

Jessica Evans

Greg Ford

Brandon Green

Harold Huggins

Adrian Hunnings

Angela Jones

James Kaull

Tim Knobloch

Dana Landry

Alana Lasover

Elizabeth Lavette

Justin Levitch

Peg Mancuso

Matthew McCormick

Ellen Morrell

Shelly Murray

Frank Pietranton, Jr.

Leigh Reed

Bonnie Roberts-Burke

Frederick Roth

Jason Sherman

Brenda Small

Jennifer Smira

Frank Snodgrass

Jonathan Taylor

James Thomley

Patrick Weed

Meredith Weisel

Margot Wilson

Edward Wood

Capital Club ($250-$999)Briana Ayala

Wendy Banner

Frederic Bates

David Bediz

Elizabeth Blakeslee

Kevin Breckenridge

Jan Brito

Thank You RPAC Investors

RealtorParty

®

Thomas Brockett

Nathan Carnes

Thomas Castagnola

Marilyn Charity

Gregory Coggins

Lori Connor

Christopher Darby

Joe Detrick

Anthony DeVol

Samuel Dweck

Jeffrey Ganz

Andrea Gaus

Dorie Glass

Scott Goldberg

Jacqueline Grenning

Sally Hamidi

Gwen Henderson

Colin Johnson

Ellen Katz

Jeremy Lichtenstein

Anthony Mancuso

Kevin McDuffie

Dennis Melby

Thomas Muldoon

Vittorio Muzzatti

Allan Prigal

R. Bradley Runyan

Susan Sanford

Marie Shannon

P. Joy Siegel

Marty Stanton

(As of September 30, 2014)

public policy

TransportationDC and Montgomery County Take on Transportation Challenges Together

Montgomery CountyProperty Tax Credit for Owners Providing Reduced Rent for Seniors and DisabledGCAAR supports a new bill that would allow owners who charge reduced rent to eligible elderly or disabled tenants to apply for a credit against their County property tax bill. The credit amount would be 50% of the difference between market rent and the reduced rent.

GCAAR commends the Council for this incentive-based policy aimed at encouraging affordable housing for our County’s most vulnerable residents. Tax credits will help owners make improve-ments, ensuring that rental properties are properly maintained, clean, and safe. Reduced rents allow tenants to save more money in the hopes that they might become property owners themselves - a win-win situation!

Big Wins in Primary for GCAAR REALTOR®- Endorsed CandidatesThe REALTOR® Party celebrated another huge victory in the June 24 Democratic Primary Elections with nine out of ten GCAAR RPAC candidates winning their races! Mailings, phone calls, RPAC donations, and volunteer hours were just a few ways GCAAR members got involved. Thanks to all the dedicated members who contributed their time and energy - without you, these victories would not have been possible!

We aren’t out of the woods yet – Maryland’s General Election is November 4, 2014. Your legislators have critical roles in issues like transportation funding, economic development, and affordable housing. Get out and VOTE for these REALTOR® RPAC-supported candidates:County Executive: Ike Leggett, County Council: Roger Berliner - District 1, Craig Rice - District 2, Sidney Katz - District 3, Nancy Navarro - District 4, Nancy Floreen - At Large, George Leventhal - At Large, Hans Riemer - At Large, Marc Elrich - At Large

Councilmembers Mary Cheh (DC) and Roger Berliner (Montgomery County) co-chaired the jurisdictions’ first ever joint Transportation Committee meeting this past July. Collaborative solutions to traffic issues and coordi-nating long-term transportation plans were discussed. “The congestion on our roads affects the quality of life in both jurisdictions,” said Berliner. “It is in [DC and Mont-gomery County’s] mutual interests to... provide seamless, high-quality transit services.”

Proposed solutions included Montgomery County’s Rapid Transit System, the newly-designed DC streetcar system, and improvements to four major arteries. The Joint Com-mittee plans to continue working together and GCAAR’s Government Affairs staff will closely monitor this collab-orative effort.

MarylandNew “Service Recommendation” Rule Now in EffectThe Maryland Real Estate Commission adopted a new regu-lation that requires agents who recommend service providers to verify that the service provider is licensed by the State of Maryland.

Under the rule, if an agent chooses to recommend service pro-viders in conjunction with the real estate transaction, the real estate licensee must:

• Verify that the recommended individuals are licensed to perform those services by checking their licensing status

• Give the customer or client an electronic link to the licensing information and the date on which the service provider’s licensing status was verified (Most licensing information can be accessed at: dllr.state.md.us/license/.

Title agents can go to: mdinsurance.state.md.us

Real estate licensees are expected to verify contractor license status at least once a year. The rule applies to “service pro-viders including, but not limited to, a mortgage lender or mortgage broker, a real estate appraiser, a home inspector, a

home improvement contractor, a plumber, an electrician, or a heating/ ventilation/ air condition/ cooling (HVAC) contractor.”

The Regulation is currently final; however, MAR is looking into possible alternatives. Until further notice, compliance is required.

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DCAR Speaker SeriesREALTORS® and RadonKeith Keemer from the District’s Department of the Environment stopped by the DCAR offices in June to talk about radon and its effect on homes and families. Members learned the facts about radon, methods for testing, and steps for reducing the potentially deadly gas in DC homes.

“This was one of the best Speaker Series seminars DCAR has put on this year,” said DCAR President Bonnie Roberts-Burke. “I highly encourage every member of DCAR to talk to their bro-kerages about scheduling a session with Keith to learn about this fascinating issue.”

To schedule a presentation, contact Keith at keith.keemer@dc.gov. To learn more about radon visit: http://green.dc.gov/radon

Keith Keemer discusses radon at DCAR.

DC Real Estate Commission Chair, Tony DuncansonDCAR’s July Speaker Series featured veteran guest Tony Duncan-son, Chair of the DC Real Estate Commission. Mr. Duncanson gave an overview of general licensing information, continuing education requirements, and local regulations. He also gave members a heads up on the Commission’s increased enforcement of advertising regulations and the penalties for various rule vio-lations.

DC’s Real Estate Commission is charged with regulating the District’s nearly 12,000 real estate licensees and protecting con-sumers by upholding real estate license laws. DCAR will continue working with the Commission to help REALTORS® understand and comply with licensure requirements.

DC Real Estate Commission Chair Tony Duncanson with DCAR Past Presidents Ed Downs and Elizabeth Blakeslee, and 2014 President Bonnie Roberts-Burke (far right).

District of ColumbiaLegislative Success: Council to Restore $500k to Real Estate Guaranty & Education Fund DCAR is pleased to report its latest accomplishment: the DC Council is set to restore $500,000 to DC’s Real Estate Guaranty and Education Fund. DC’s Fiscal Year 2015 Budget begins the process of restoring the nearly $3.25 million which was swept from the Fund to fill general operating budget shortfalls. .

DCAR Joins Councilmember in Tackling Affordable Housing DCAR was recently selected among top housing advocates to take part in an ongoing roundtable discussion about preserving and expanding DC’s affordable housing stock. Leading the group is

DC Councilmember Anita Bonds who encourages advocates to think of new ways the government can leverage its resources to defend affordable housing.

DCAR emphasized the important role REALTORS® have in ensuring that information about the City’s affordable housing programs and resources makes its way to the clients these pro-grams serve. REALTORS® understand the immense value of the Housing Production Trust Fund, and believe that for it to thrive, it should be funded by a more stable source of revenue than recor-dation and transfer taxes.

DCAR’s Speaker Series aims to bring REALTORS® together with government officials who directly affect the real estate busi-ness. Upcoming DCAR Speaker Series Events can be found at dcrealtors.org.

on the HillNAR Victory: FHA “Prepayment Penalty” EliminatedThe Federal Housing Administration (FHA) issued its final rule to eliminate post-payment interest charges on FHA-insured sin-gle family mortgages. NAR has urged FHA and Ginnie Mae to remove this prepayment penalty for years, as the policy placed an unreasonable burden on consumers. (Conventional, VA, and other government loan programs do not have post-payment interest charges.) The policy change, which prohibits mortgagees from charging borrowers interest on their home mortgages after a principal balance pay-off, goes into effect January 21, 2015

FAA Prohibits Using Drones to Create Real Estate VideosDrones are generating buzz in the real estate industry. Agents across the country are using this technology to take pictures and videos of property for marketing purposes. Beware! The Federal Aviation Administration (FAA) prohibits the use of drones for any commercial purpose, such as creating videos to sell property or hiring a third party to create a video. They have specifically said agents who fly drones to take pictures or videos of listings are not engaged in a “hobby or recreation” and are subject to enforce-ment actions.

NAR recommends members do not use drones for real estate marketing purposes and refrain from hiring companies to do the same until the FAA issues different regulations. NAR has com-mented that any regulations should ensure that safety, privacy, and national security concerns are addressed, while not being overly burdensome for REALTORS®.

Visit realtoractioncenter.org for details on these and other important federal issues.

www.realtoractioncenter.org

YOUR REALTOR® PARTYThe REALTOR® PARTY is a powerful

alliance of REALTORS® and REALTOR®

Associatons working to protect and

promote homeownership and prop-

erty investment. The REALTOR® Par-

ty speaks with one voice to advance

candidates and public policies that

build strong communities and pro-

mote a vibrant business environment.

From city hall to the state house

to the U.S. Capitol, our elected of-

ficials are making decisions that

have a huge impact on the bottom

line of REALTORS® and their clients.

Through the support of REALTORS®

like you, the REALTOR® Party rep-

resents your interests.

CAPITAL AREA REALTOR® • Sept/Oct 2014 2524 CAPITAL AREA REALTOR® • Sept/Oct 2014

26 CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR® • May/Jun 2014 27

MRIS is excited to be able to provide Homesnap Pro, one of the most innovative real estate

mobile apps as part of your MRIS subscription at no addi-tional cost. The thousands of MRIS customers who already use Homesnap Pro know how intuitive it is to use, quickly providing the agent-only listing information you need when and where you need it. You can contact listing agents with a few quick taps, view confidential listing information, con-nect with your clients through the app and more!

Now, this great app has become even more useful. Homesnap and ShowingTime are now integrated to allow you to sched-ule showings right from the Homesnap Pro app! With this new feature, you can click the ShowingTime button in Homesnap Pro to view instructions or schedule a showing on listings that have ShowingTime enabled.

The process couldn’t be easier. You just tap the “Schedule with ShowingTime” button on a listing and pick the date and time you want to show the home. The rest is handled auto-matically.

for buyer’s agents who are searching for properties for their clients.

Two Great FREE MRIS Products Team Up to Make Your Job Easier:

Homesnap Pro Now Features Showing Time Scheduling

MRIS.com/ShowingTime

How to Get Homesnap Pro? In order for MRIS customers to take full advantage of this Homesnap Pro and Showing-Time integration, listing agents should consider enabling Show-ingTime for their listings. Even simply setting up a listing with the “View Instructions Only” showing type can provide valu-able analytics to share with sell-ers to show how much interest their property is receiving online.

If you already use a showing service, such as CSS, enabling ShowingTime can provide an extra layer of convenience

Why Enable ShowingTime? In order for MRIS customers to take full advantage of this Homesnap Pro and ShowingTime integration, listing agents should consider enabling ShowingTime for their listings. Even simply setting up a listing with the “View Instructions Only” showing type can provide valuable analytics to share with sellers to show how much interest their property is receiving online.

If you already use a showing service, such as CSS, enabling ShowingTime can provide an extra layer of convenience for buyer’s agents who are searching for properties for their clients.

How to Enable ShowingTime for Listings You can set up ShowingTime for your listings by accessing ShowingTime from the External Links box on your Matrix Homepage or by using the Showings icon on your Keystone Homepage in the Activities section. Once you’ve opened ShowingTime, select Agent Setup from the ShowingTime control panel where you can choose your default settings for showing requests.

More information on how to access and set up ShowingTime is available at MRIS.com/ShowingTime.

Remember, both Homesnap Pro and ShowingTime are included with your MRIS subscription. There is no additional charge for you to use either of these products if you are an MRIS customer.

Thanks to the many real estate professionals who requested that Homesnap Pro integrate with ShowingTime. We think it’s a great feature, and hope that you will too.

26 CAPITAL AREA REALTOR® • Sept/Oct 2014 CAPITAL AREA REALTOR® • Sept/Oct 2014 27

education schedule

Continued, page 32

November 21, 2014Maryland Code of Ethics and Predatory LendingCEU: 3 hours MD (required) & DC (elective)Instructor: Jacqueline TalpaTime: 10:00 a.m. – 1:00 p.m.*NAR Building/3rd Floor

November 21, 2014Maryland Fair HousingCEU: 1.5 hours MD (required) & DC (elective)Instructor: Jacqueline TalpaTime: 2:00 – 3:30 p.m.*NAR Building/2nd Floor

November 22, 2014Financing Issues/UpdateCEU: 3 hours DC (required); MD & VA (elective)Instructor: Michael ChelstTime: 10:30 a.m. – 1:30 p.m.

November 24, 2014FIRPTA for Residential Real EstateCEU: 1.5 hours MD and DC (elective) and 2 hours VA (elective)Instructor: Lisa Lu BrittonTime: 10:00 a.m. – 12:00 p.m.*NAR Building/3rd Floor

November 24, 2014RPR BasicsCEU: No CEInstructor: Barbara MaloneyTime: 10:30 a.m. – 12:00 p.m.

November 24, 2014RPR AdvancedCEU: No CEInstructor: Win SingletonTime: 1:30 – 3:00 p.m.

November 24, 2014Real Estate Tax UpdateCEU: 1.5 hours MD and DC (elective)Instructor: Kevin MatthewsTime: 1:30 – 3:00 p.m.*NAR Building/3rd Floor

December 1, 2014Veterans Administration (VA) FinancingCEU: 3 hours MD and DC (elective)Instructor: Brian Willingham.Time: 1:00 – 4:00 p.m.

December 3, 2014Maryland Legal & Legislative UpdateCEU: 3 hours MD (required) and DC (elective)Instructor: Al MonshowerTime: 9:30 a.m. – 12:30 p.m.

December 3, 2014Financing Issues/UpdateCEU: 3 hours DC (required); MD and VA (elective)Instructor: James SemeynTime: 10:00 a.m. – 1:00 p.m.*NAR Building/2nd Floor

November 5, 2014Financing Issues/UpdateCEU: 3 hours DC (required); 3 hours MD & VA (elective)Instructor: James SemeynTime: 10:00 a.m. – 1:00 p.m.* NAR Building/3rd Floor

November 5, 2014Veterans Administration (VA) FinancingCEU: 3 hours MD & DC (elective)Instructor: James SemeynTime: 2:00 – 5:00 p.m.*NAR Building/3rd Floor

November 6, 2014New Member OrientationCEU: No CEInstructor: Jill MichaelsTime: 10:30 a.m. – 12:00 p.m.

November 6, 2014Maryland Code of Ethics and Predatory LendingCEU: 3 hours MD (required) & DC (elective)Instructor: Jill MichaelsTime: 1:00 – 4:00 p.m.

November 7, 2014MREC Required SupervisionCEU: 3 hours MD (required for brokers; elective for agents) & DC (elective)Instructor: Al MonshowerTime: 9:30 a.m. – 12:30 p.m.

November 7, 2014Maryland Fair HousingCEU: 1.5 hours MD (required) & DC (elective)Instructor: Al MonshowerTime: 1:30 – 3:00 p.m.

November 10, 20142011-2013 Maryland Legislative UpdateCEU: 3 hours MD (required) and DC (elective)Instructor: Greg FlynnTime: 9:30 a.m. – 12:30 p.m.

November 10, 2014DC Legislative UpdateCEU; 3 hours DC (required)Instructor: Greg FlynnTime: 1:30 – 4:30 p.m.

November 12, 2014Broker Manager Forum: Advertising Compliance vs. Personal MarketingCEU: No CEInstructor: Thom BrockettTime: 12:00 – 2:00 p.m.

November 14, 2014Financing Issues/UpdateCEU: 3 hours DC (required); MD & VA (elective)Instructor: Chanin WislerTime: 9:30 a.m. – 12:30 p.m.

November 14, 2014DC Legislative UpdateCEU: 3 hours DC (required)Instructor: Patrick Tangney & Kevin AndersonTime: 10:00 a.m. – 1:00 p.m.*NAR Building/3rd Floor

November 14, 2014Understanding Credit Reports, Scoring Models and How to Improve Your Credit ScoreCEU: 3 hours MD, DC & VA (elective)Instructor: Chanin WislerTime: 1:30 – 4:30 p.m.

November 14, 2014Transaction Red FlagsCEU: 1.5 hours MD & DC (elective)Instructor: Patrick Tangney & Kevin AndersonTime: 2:00 – 3:30 p.m.*NAR Building/3rd Floor

November 17, 2014Virginia Broker Management & Agent SupervisionCEU: 8 hours VA (required for brokers)Instructor: Thom BrockettTime: 9:00 a.m. – 6:00 p.m.

November 17, 2014GCAAR @ NVAR: MREC Agency – ResidentialCEU: 3 hours MD (required) & DC (elective)Instructor: Counselors TitleTime: 9:30 a.m. – 12:30 p.m.*NVAR Fairfax Location (8407 Pennell Street)

November 17, 2014GCAAR @ NVAR: Real Estate Tax UpdateCEU: 1.5 hours MD and DC (elective)Instructor: Kevin MatthewsTime: 1:30 – 3:00 p.m.*NVAR Fairfax Location (8407 Pennell Street)

November 20, 2014Financing Issues/UpdateCEU: 3 hours DC (required); MD & VA (elective)Instructor: Debbie Benkert and Chris DarbyTime: 9:30 a.m. – 12:30 p.m.*NAR Building/2nd Floor

November 20, 2014DC Fair HousingCEU: 3 hours DC (required)Instructor: Counselors TitleTime: 1:30 – 4:30 p.m.*NAR Building/2nd Floor

November 20, 2014DC Legislative UpdateCEU: 3 hours DC (required)Instructor: Counselors TitleTime: 5:00 – 8:00 p.m.*NAR Building/2nd Floor

28 CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR® • May/Jun 2014 29

December 3, 2014Maryland Legal & Legislative UpdateCEU: 3 hours MD (required) and DC (elective)Instructor: Al MonshowerTime: 9:30 a.m. – 12:30 p.m.

December 3, 2014Financing Issues/UpdateCEU: 3 hours DC (required); MD and VA (elective)Instructor: James SemeynTime: 10:00 a.m. – 1:00 p.m.*NAR Building/2nd Floor

December 3, 2014 MREC Agency – ResidentialCEU: 3 hours MD (required) and DC (elective)Instructor: Al MonshowerTime: 1:30- 4:30 p.m.

December 3, 2014Non-Conforming FinancingCEU: 3 hours MD, DC and VA (elective)Instructor: James Semeyn Time: 2:00 – 5:00 p.m.*NAR Building/2nd Floor

December 4, 2014Homebuyer FinancingCEU: 1.5 hours MD and DC (elective) and 1 hour VA (Elective)Instructor: Michelle MathewsTime: 9:30 – 11:00 a.m.

December 5, 2014Maryland Code of Ethics and Predatory LendingCEU: 3 hours MD (required) and DC (elective)Instructor: Dana Hollish HillTime: 9:30 a.m. – 12:30 p.m.

December 5, 2014Renovation and Construction FinancingCEU: 3 hours MD, DC, and VA (elective)Instructor: Cedric JohnsonTime: 10:00 a.m. – 1:00 p.m.*NAR Building/3rd Floor

December 5, 2014Maryland Fair HousingCEU: 1.5 hours MD (required) and DC (elective)Instructor: CarrieAnne MessinaTime: 1:30 – 3:00 p.m.

December 5, 2014Comparative Difference Between the MAR and Regional ContractsCEU: 1.5 hours MD and DC (elective)Instructor: Patrick Tangney and Kevin AndersonTime: 2:00 – 3:30 p.m.*NAR Building/3rd Floor

December 8, 2014ForeclosuresCEU: 3 hours MD and DC (elective)Instructor: Robert MosesTime: 9:30 a.m. – 12:30 p.m.

December 8, 2014DC Legislative UpdateCEU: 3 hours DC (required)Instructor: Counselors TitleTime: 10:00 a.m. – 1:00 p.m.*NAR Building/2nd Floor

December 8, 2014Contract BasicsCEU: 3 hours MD, DC and VA (elective)Instructor: P. Joy SiegelTime: 1:30 – 4:30 p.m.

December 8, 2014DC Fair HousingCEU: 3 hours DC (required)Instructor: Counselors TitleTime: 2:00 – 5:00 p.m.*NAR Building/2nd Floor

December 10, 2014Serving the First Time HomebuyerCEU: 3 hours MD, DC and VA (elective)Instructor: Gary HardyTime: 10:00 a.m. – 1:00 p.m.*NAR Building/3rd Floor

December 10, 20142010-2014 Maryland Legal UpdateCEU: 3 hours MD (required)Instructor: Chuck KaskyTime: 1:30 – 4:30 p.m.

December 10, 2014Maryland Code of Ethics and Predatory LendingCEU: 3 hours MD (required) and DC (elective)Instructor: Ned RichTime: 2:00 – 5:00 p.m.*NAR Building/3rd Floor

December 11, 2014GCAAR @ NVAR: 2011-2013 Maryland Legislative UpdateCEU: 3 hours MD (required) and DC (elective)Instructor: Greg FlynnTime: 9:30 a.m. – 12:30 p.m.*NVAR Fairfax Location (8407 Pennell Street)

December 11, 2014GCAAR @ NVAR: Comparative Difference Between the MAR and Regional ContractsCEU: 1.5 hours MD and DC (elective)Instructor: Greg FlynnTime: 1:30 – 3:00 p.m.*NVAR Fairfax Location (8407 Pennell Street)

December 12, 2014MREC Agency – ResidentialCEU: 3 hours MD (required) and DC (elective)Instructor: Jacqueline TalpaTime: 10:00 a.m. – 1:00 p.m.*NAR Building/3rd Floor

December 12, 2014Maryland Fair HousingCEU: 1.5 hours MD (required) and DC (elective)Instructor: Jacqueline TalpaTime: 2:00 – 3:30 p.m.*NAR Building/3rd Floor

December 15, 2014Regional Sales Contract UpdateCEU: 3 hours MD, DC and VA (elective)Instructor: Casey AikenTime: 9:30 a.m. – 12:30 p.m.

December 15, 2014GCAAR @ NVAR: Maryland Code of Ethics and Predatory LendingCEU: 3 hours MD (required) and DC (elective)Instructor: Adam. Polsky and Chad OlderTime: 9:30 a.m. – 12:30 p.m.*NVAR Fairfax Location (8407 Pennell Street)

December 15, 2014Mortgage BasicsCEU: 3 hours MD, DC and VA (elective)Instructor: Debbie BenkertTime: 10:00 a.m. – 1:00 p.m.*NAR Building/3rd Floor

December 15, 2014Rental Property ManagementCEU: 3 hours MD and DC (elective)Instructor: Casey AikenTime: 1:30 – 4:30 p.m.

December 15, 2014GCAAR @ NVAR: Working with InvestorsCEU: 1.5 hours MD and DC (elective)Instructor: Chad OlderTime: 1:30 – 3:00 p.m.*NVAR Fairfax Location (8407 Pennell Street)

December 15, 2014FHA FinancingCEU: 3 hours MD, DC and VA (elective)Instructor: Debbie BenkertTime: 2:00 – 5:00 p.m.*NAR Building/3rd Floor

December 17, 2014GCAAR @ NVAR: Veterans Administration (VA) FinancingCEU: 3 hours MD and DC (elective)Instructor: Derek HarmanTime: 9:30 a.m. – 12:30 p.m.*NVAR Fairfax Location (8407 Pennell Street)

December 17, 2014Financing Issues/UpdateCEU: 3 hours DC (required); MD and VA (elective)Instructor: Jamica BrowneTime: 9:30 a.m. – 12:30 p.m.

December 17, 2014GCAAR @ NVAR: Maryland Fair HousingCEU: 1.5 hours MD (required) and DC (elective)Instructor: George Glekas and Jessica ChipocoTime: 1:30 – 3:00 p.m.*NVAR Fairfax Location (8407 Pennell Street)

December 17, 2014DC Legislative UpdateCEU: 3 hours DC (required)Instructor: Counselors TitleTime: 1:30 – 4:30 p.m.

December 17, 2014DC Fair HousingCEU: 3 hours DC (required)Instructor: Mary ChieppaTime: 5:00 – 8:00 p.m.

education schedule

When the most respected brandin the world, Berkshire Hathaway,puts its name on a real estate sign,that’s a good sign for the marketand a great sign for you.Prudential PenFed Realty is proudto join them as Berkshire HathawayHomeServices PenFed Realty.

Get to know us at:penfedrealty.com

Contact us at:703-877-2714 or 410-547-5700careersvirginia@penfedrealty.com

©2014 Prudential Real Estate brokerage services are offered through the independently owned and operated network of broker member franchisees of BRER Affiliates LLC. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, used under license with no other affiliation with Prudential. Berkshire Hathaway HomeServices brokerage services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.®

Good to know.TM

The marketis changing.And so isour name.

COMINGFall of 2014

PFR GCAAR Ad_Sept-Oct 2014.indd 1 8/6/14 4:48 PM

28 CAPITAL AREA REALTOR® • Sept/Oct 2014

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