oct13connections

Worcester Regional Association of REALTORS® 1 www.wrar.org

President’s Message 1October Month-at-a-Glance 2Dues Incentive 3Dues Budget Plan 4Membership News 5Member Benefits 6Community Action Committee Drive 7

CREST 9Upcoming Events 10-14Annual Meeting 15-19DR Breakfast 20Professional Standards Committee 20

Government Affairs 21Legal Hotline 22-23

Happy Fall! Welcome October, the leaves are changing and so are other things - There are a lot of Regulatory issues set to happen around October 1 that effect our industry and Your RPAC Dollars have been HARD AT WORK to Protect your Livelihood and Homeownership.

The two BIGGEST issues that NAR has been actively pursuing are - First, HUD sent a letter to their mortgage servicers in July stating that they would no longer allow Dual Agency. HUD de-fined this to be any two real estate professional representing the buyer and seller that are affiliated under the same broker. NAR successfully got HUD to postpone this ban. NAR is still actively working to get HUD to reconsider the ban altogether and change

this policy.

The Second Big topic is Flood Insurance -- see the Legal Hotline brief on page 18. The Flood Insurance Reform Act of 2012 phases out subsidized insurance rates and redraws the flood maps. Existing policies would go up 25% per year until they reach the full premium amount and on property transfer would automatically go to full premium amount. This could have dire effect on the value of any property that requires flood insurance. This is not just a Coastal issue. In Worcester County it could include home near lakes, ponds, rivers and streams. NAR has filed a brief explaining the effects that the sudden increase will have on Homeowners and Property values. On 9 there is sample Disclosure Language that MAR and NAR recommend REALTORS® use.

This is Your REALTOR® organizations working and helping you. You should have received your 2014 WRAR dues renewal shortly. WRAR is pleased to let you know that for the 7th year in a row there will be no increase to the WRAR portion of your dues. Please consider when paying your dues to Support RPAC at or above the recommended level. As a homeowner and Fellow REALTOR®, I thank you.

Have a wonderful Fall!

Warmest Regards,

Rochelle Rochelle Jonswold2013 WRAR President

Inside this Issue: President’s Message

WRAR Mission StatementThe purpose of the Worcester Regional Association of REALTORS® is to:

* Provide members with the resourc-es that enable them to serve the public in an ethical and profes-sional manner

* Take an active role regarding issues affecting sellers, buyers, tenants and landlords.

October 2013


WRAR MONTH-AT-A-GLANCE

Save the Date!

Friday, November 15, 2013 Packing & Sorting Day - Community Action Committee Hat/Mitten/Sock Drive

Thursday, December 12, 2013: Installation of Officers & Directors Luncheon Cyprian Keyes, Boylston, MA

Visit www.wrar.org for details

October 2013Sunday Monday Tuesday Wednesday Thursday Friday Saturday

19 -Gov’t Affairs Comm Mtg.10 -CEU Class 1031 Exchange

2 3 2-4 Thirsty Thursday: Mock Arbitration

4 5 9-5 Sales Pre-license Class

6 7 8 9-3 MLS PIN Training

99 Finance Comm10:30 BOD Mtg

1011:30-1:00 Reno-vation Financing w/Wells Fargo

119:30 Membership Comm Mtg

129-5 Sales Pre-license Class

13 14 15 1611 Lunch & Learn w/Fairway Mortgage

17 18 199-5 Sales Pre-license Class

20 219-3 MLS PIN Training

2210 Foreclosure CEU Class12 Short Sales CEU Class

238:30 Annual Mtg. @ Holy Cross

24 258:30 DR Break-fast1-4 Professional Standards Train-ing

26

27 289-5 MLS PIN Cloud/CMA

29 308-8 CEU Classes

5:30 WCR Mas-querade Ball - Beechwood Hotel

31

WRAR CLOSED

MAR CONVENTION


2014 Due$ Incentive$

Get a head start on 2014 by taking advantageof one our GREAT Dues Incentives:

Your dues include:National Association of REALTORS®: $120.00NAR Image Campaign: $ 35.00Mass. Association of REALTORS®: $151.00WRAR REALTOR®: $272.00 WRAR Designated REALTOR®: $372.00

*Pay your entire dues in October and be entered into a drawing to win back your ENTIRE 2014 dues - over a $500 savings!

Deadline for drawing is 10/31/13. (REALTOR® members only.)

*Pay your entire dues in November and be entered into a drawing to win back your LOCAL dues! (October entries are eligible once again in November).

Deadline for drawing is 11/30/13. (REALTOR® members only.)

Deadline for dues is December 31, 2013, to avoid late fees.NEED SOME EXTRA TIME? Enroll in our 2014 BUDGET PLAN by October 31, 2013.

Reminder: If you do not sign up for the installment plan, your entire 2014 dues payment MUST be received by December 31, 2013 to avoid additional fees. The $60.00 late fees go into effect on January 1, 2014 -- there are no exceptions!

2014 DUES MAY BE PAID ONLINE AS OF OCTOBER 1, 2013.

If you have not yet received your 2014 Dues invoice, please contactLisa Sprague, as they were emailed to all members on October 1.

There are two changes included in this year’s invoice :

A $1 Scholarship Donation - Please consider donating towards this important member benefit.

The RPAC $20 fair share donation has been increased to $20. Please consider giving yourfair share sdo that we can continue our legislative efforts on your behalf .

For the 7th year in a row, WRAR is proudthat we have not had a local dues increase!


2014 Dues Budget Plan Option for REALTOR® Members

Under the 2014 Worcester Regional Association of REALTORS® Budget Plan, you may enroll in the plan to help spread the payments across time plus there are NO LATE FEES!!!

Please enroll me in the 2014 plan: (includes a $10.00 service fee per payment)

$ 83.00 REALTOR® 1ST INSTALLMENT September 30, 2013 $108.00 Designated REALTOR®

$ 83.00 REALTOR® 2ND INSTALLMENT October 31, 2013 $108.00 Designated REALTOR®

$ 83.00 REALTOR® 3RD INSTALLMENT November 30, 2013 $108.00 Designated REALTOR®

$ 83.00 REALTOR® 4TH NSTALLMENT December 31, 2013 $108.00 Designated REALTOR®

$151.00 REALTOR® 5TH INSTALLMENT January 31, 2014 $151.00 Designated REALTOR®

$155.00 REALTOR® 6TH INSTALLMENT February 28, 2014 $155.00 Designated REALTOR®

Please check here if you would like to contribute your Voluntary Fair Share Amount of $20.00 to RPAC. The budget amounts above do not reflect your contribution. We hope that you will help us reach our 2014 RPAC goal by donating. If you contribute, this one time payment of $20.00 will be assessed to your credit card on September 30, 2013 in addition to the above amount.

I hereby enroll in the 2014 WRAR budget plan and understand that processing fees are included in the total amount. If total dues and service fees are not paid AS AGREED, my membership will terminate and I will be subject to all applicable reinstatement fees. Please note dues are non-refundable.

***The installment plan is available for CREDIT CARD purchase only.

If for any reason the credit card info provided is invalid or declined a $50.00 administration fee will be charged. Please fax to: 508-832-6620 or email the form to: [email protected]

Payment Information

Name on Card: _____________________________________________

Billing Address: _____________________________________________

Card# __________- ___________-___________-___________ Exp. Date: _____________

Signature _____________________________________________

We accept MasterCard, Visa, American Express and Discover

I understand that WRAR will debit my credit card account as designated above in order to pay the fees and other charges and that all amounts due under the budget plan outlined above will be automatically charged to my credit card. I further understand that REALTOR® dues are non-refundable.

By signing this form you are agreeing to all the above terms.


MEMBERSHIP NEWS

New Members - September OrientationGina Bello Keller Williams Realty-Gr.Worc. WorcesterCherie Benoit Keller Williams Realty-Gr. Worc WorcesterKevin Bergin Century 21 Toomey Lovett Inc. SpencerCandice Bettencourt Keller Williams Realty-Gr. Worc WorcesterAndrea Carpenter Emerson REALTORS AuburnGlen Cronan ERA Key Realty Services WorcesterMichelle Curran RE/MAX Advantage1 WorcesterMichelle Fanion ERA Key Realty Services SpencerSara Flagg Keller Williams Realty-Gr. Worc WorcesterKaren Gammell Eastern Alliance Realty, LLC ShrewsburyThomas Hoang Century 21 Center Home Realty SterlingSharyn Hocurscak ERA Key Realty Services WorcesterDaniel Jette Keller Williams Realty-Gr. Worc WorcesterMelanie Johnson ERA Key Realty Services WorcesterJonathan Judkins Keller Williams Realty-Gr. Worc WorcesterSabrina Kelsey Keller Williams Realty-Gr. Worc WorcesterDonald Kjornes Exit Realty Partners ShrewsburyPatricia Kosiba Keller Williams Realty-Gr. Worc WorcesterJohn Kreiss Prudential Prime Properties WestboroJudith Kuhtreiber Spangler SELECT Real Estate ShrewsburyMichelle Lamontagne Quaboag Valley Real Estate BrookfieldSharon Luce RE/MAX Professional Associates ShrewsburyErin Mahoney Michael Toomey & Associates N. BrookfieldRosemary Mensah Hope Realty & Associates WorcesterKen Miller Keller Williams Realty-Gr. Worc WorcesterDina Nichols Coldwell Banker Res. Brokerage ShrewsburyJasmine Ortiz Keller Williams Realty-Gr. Worc WorcesterAndy Paleologos RE/MAX Prestige MarlboroKim Poirier ERA Key Realty Services MilfordWilliam Power RE/MAX Professional Associates SturbridgeNathan Riel Keller Williams Realty-Gr. Worc WorcesterJennifer Roux Exit Realty Partners WorcesterJohn Severino Keller Williams Realty-Gr. Worc WorcesterJoseph Stake Coldwell Banker Res. Brokerage ShrewsburyMichelle Tebo Quaboag Valley Real Estate BrookfieldJoseph Visone Visone Realty MendonJudith Wesley Exit Realty Partners WorcesterGwen Zilioli Real Living Barbera & Assoc. Worcester

New ApplicantsJaime Aviles RE/MAX Professional Associates ShrewsburyJoel Cortes Century 21 DeNault Realty Inc. LeominsterMichael Dean Quaboag Valley Real Estate BrookfieldJennifer Garon RE/MAX Professional Associates ShrewsburyChristine Greige RE/MAX Professional Associates ShrewsburyRoss Kenyon Nextage M3 Realty WorcesterDavid Leal Keller Williams Realty-Gr. Worc WorcesterChris Marsicano Prudential Prime Properties HudsonDonna Pearson Sullivan & Company Real Estate BrimfieldJoanne Rose Keller Williams Realty-Gr. Worc WorcesterNuntana Savanorke Exit Realty Partners WorcesterIngrid Swift Coldwell Banker Res. Brokerage SturbridgeStacey West RE/MAX Prestige Northboro

Transferred MemberFrancis Laplume C21 DeNault Realty Leom.

Office VisitsThe Membership Committee has developed a 20-minute presentation on the benefits of being a member of the Worcester Regional Association of REALTORS® and is ready to bring this roadshow to your office! If you would like to schedule a visit, please contact Lisa Sprague for arrangements via email at [email protected].

Agents Transferred Cheryl Ann Kemp M3 Realty of MA WorcesterDee Collard Grace Group Realty LudlowEllie Cacollari Keller Williams Realty WorcesterJennifer Dufrense Coldwell Banker WorcesterFrancis Laplume C21 DeNault Realty Leominster

Reinstated MemberChip LaRiviere Centuy 21 Irvine & Virginia WalshCynthia Quansah Keller Williams Realty-Gr. Worc

New Office Keith Higgins M3 Realty of MA Sec. Broker 46 Wachusett Street WorcesterAmy Mateus Grace Group Realty Sec. Broker 884 Poole Street Ludlow

New Affiliates Alison Adams Security First Mortgage Funding 1 Ararat Street WorcesterClaire Burlas First Eastern Mortgage 130 Cedar Street MilfordKaren Freeman Mortgage Master 276 Turnpike Road WestboroMeredith Lewis Ross Mortgage Co. 134 Flanders Road WestboroSusan Lindberg Security First Mortgage Funding 1 Ararat Street WorcesterMichael Morcone Security First Mortgage Funding 1 Ararat Street WorcesterBruce Varner Security First Mortgage Funding 1 Ararat Street Worcester

MilestonesSympathiesTo the family of longtime REALTOR®, WRAR member and Past President Jim Fitzpatrick, who passed away in September.


TAKE ADVANTAGE OF YOUR MEMBERSHIP BENEFITS!Local WRAR BenefitsFREE CEU classes for members• A potential savings of up to $180• Regular Learning sessions in our own

classroom & via online webinars• Courses for designations & specialties Community Presence• Community Action drives• Legislative Breakfast• Community Outreach• Habitat For Humanity Build Day

Scholarships for relatives of REALTOR® and Affiliate Members

Local Dispute Resolution System• Grievance & Professional Standards

Committees

One on One Communication• E-blast messages• Monthly newsletters e-mailed to each

member

Full-time, trained staff, available by phone and email

Interactive website & event registration

Recognition of the best and the brightest• REALTOR® of the Year• Affiliate of the Year• Distinguished Service Award• Lifetime Achievement Award• Rookie of the Year

Business & Entertainment Discounts• Staples• RealEstateCalendars.com• BJs• Sharfman’s Jewelers – 10% discount• Herbert Berg Florist – 10% discount• FromYouFlowers.com – 20% discount

NAR BenefitsREALTOR® Branding & PR• The right to use the logo alone is

enough to make it worthwhile!• NAR commercials working for you and

your success• FREE and reduced cost resources on

REALTOR.org

Information Resources • REALTOR® Magazine• REALTOR.org• RPR.com (REALTOR® Property Re-

source)• HouseLogic.com/members• Annual “Profile of Home Buyers &

Sellers” Report

Designations and SpecializedEducational Opportunities• Mid-Year Conference in Washington

D.C.• Annual National Convention – over

300 educational sessions

Business Benefits & Discounts • AHS - American Home Shield Warranty

Service• Avis Car Rental• Budget Car Rental• Dell Computer• Docusign• Entertainment Book• Fedex• Hertz• Hewlett Packard• Identity Secure• Liberty Mutual• Lowes• Office Max• SentiLock• Xerox

MAR BenefitsLegal Hotline Technology Helpline

Information Resources• Bay State REALTOR® Magazine• REALTOR® Digest electronic

newsletter• E-Messaging bulletins• MARealtor.com

Education & Designations• Professional Development Offerings• MAR 2-Day conference• Professional designation courses• GRI, CBR, CIPS, SRES, CRS• Online webinars

Business Benefits & Discounts• Boston Bruins• Boston Herald• Cambridge Eye Doctors• Edible Arrangements• HomeGrade.com• Jiffy Lube• MAR Vacation Center• Postini• Sullivan Tire• VistaPrint

Shop.MARealtor.com• www.MARealtorWireless.com• Check out the “MVPs” at MARealtor.

com for more discounts & benefits!

Technology• Free access to forms online• Free online CEU classes


COMMUNITY ACTION COMMITTEE

WRAR Community Action CommitteeHat, Glove & Mitten DriveWe are collecting NEW Hats, Gloves, Mittensand Socks for Children and Adultsto be distributed to local service agencies.

Please help in any way you can. NO DONATION IS TOO SMALL!Items may be dropped at the following member offices:

● Coldwell Banker - Worcester ● Emerson REALTORS®, Auburn ● ERA Key - Oxford, Spencer, Whitinsville & Worcester● Janice Mitchell Real Estate - Holden● RE/MAX Professional - Charlton, Shrewsbury, Spencer & Sturbridge● RE/MAX Vision - Worcester● Residential Mortgage Services - Hopkinton & Worcester● Warren Home Inspections, Ashland● Worcester Regional Association of REALTORS® - Auburn

Deadline for donations:November 8, 2013Cash donations welcomed - Make checkspayable to WRAR.


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FUNDRAISER IN MEMORY OF MARCIA HEADRaffle tickets are being sold to benefit the Hope Lodge in Worcester in memory of Marcia Head. Marcia touched the lives of many throughout her career. Only 200 tickets will be sold at $50 each. The grand prize is $1,000 worth of scratch tickets to the Mass State Lottery.

Please see any WRAR BOD member or staff member to purchase a ticket.

800-695-3000 | www.mlspin.com

What can you find on ?

Estimated Home Values

Detailed History

School Rankings

Gain a competitive edge with The FindSM Application, a new research tool that’s free for MLS PIN customers. Accessible directly from Pinergy, The FindSM Application allows you to research property detail information, create customer reports, research property and ownership data, access property valuation information from multiple sources, and much more.

To use this new service, pull up the details of any property in the Pinergy system and look for these logos:

PROPERTY COMMUNITY

MAPS

Community Reports

Agent Searches

PUBLIC DATA


CENTER FOR REAL ESTATE STUDIES & TRAININGUpcoming CEU Courses for OctoberAll classes are held at the Worcester Regional Association of REALTORS® CREST School, 492 Washington Street, Auburn, MA 01501.. We also hold periodic classes at the Fidelity Bank Building, 478 Mechanic Street in Leominster. WRAR Members in good standing receive FREE LOCAL CEU’s! Tuition for non-members is $30 for each 2-hour CEU. You may register for classes online at www.CrestRealEstateSchool.com or by calling the WRAR office at 508-832-6600.

Auburn, Wednesday, October 30, 2013Time Instructor Course Code Course Title

8:00 - 10:00 Brad Roberts RE07RC13 Closing and Settlement10:00 - 12:00 Brad Roberts RE44R05 Understanding Title & Title Concerns12:00 - 2:00 Dave Bremer RE75R12 Federal Housing Administration (FHA) Loans2:00 - 4:00 Gene Check RE49R05 Dual Agency4:00 - 6:00 Gene Check RE51R06 Facilitator6:00 - 8:00 Gene Check RE01R06 Seller Agency

For additional information or to register visit: ePRONAR.com/nar_tech_edge

Register Here:

October 18, 2013

REALTOR® members $39 Early Bird by October 11 $49 after October 11

For additional information or to register visit: ePRONAR.com/nar_tech_edge

Content StrategyFacebookDigital Identities Social Media

Topics Include:Portable Technologies Mobile Marketing Photo & Video & More!

SponsorSilver: Realtors Property Resource® (RPR)

NAR TECH EDGE Springfield, MA

This one-day, high energy conference is geared towards agents who are eager to learn how current web-based and mobile technologies can benefit their business and clients.

Join NAR and the REALTOR® Association of Pioneer Valley on Friday, October 18th at the REALTOR® Association of Pioneer Valley from 9:00am - 4:30pm. This event will be emceed by Bill Lublin.

For more information and to register go to www.epronar.com/nar_tech_edge.cfm


THIRSTY THURSDAY THIRST FOR KNOWLEDGE!

Sign me up ! Return this form via fax to 508-832-6620 or email to [email protected]. You may also enroll online at www.wrar.org

Name _____________________________________________________________________________________________________________

Billing Address______________________________________________________________________________________________________

City/State/Zip_______________________________________________________________________________________________________

Phone________________________________________________ email________________________________________________________

Credit Card #____________________________________________________________ Expiration___________________________________

Presenter:Lee JosephChairman, Committee on Professional StandardsWRAR 2013 REALTOR® of the Year

Our Sponsor:

3 ways to register:Online at www.wrar.orgCall the WRAR office at 508-832-6600Fill out the form below

October’s Topic:

WRAR Presents:

KNOWLEDGE

O'Connell & O'Connell, P.C.Attorneys at Law425 Pakachoag Street, Auburn, MA 01501Tel: 508-832-5872www.philipconnell.com

Thursday, October 3, 2013, 2:00 - 4:00 pmWRAR, 492 Washington Street, AuburnFREE to WRAR members; $30 for all others

Mock ArbitrationProfessional Standards at Work for YouArbitration is a valuable service provided by the REALTOR® organization. Learn how the process works, and how it protects REALTORS® and their clients.


Be sure to enter your local association access code BERK13

SPACE IS LIMITED SO

REGISTER NOW!

MAR CONFERENCE& TRADESHOW

October 7-8Sea Crest Beach HotelNorth Falmouth, MA

Check out some of this year’s

spectacularNational Speakers!

* Member Cost until September 20: $139* New attendee (who hasn’t been to the conference in over 3 years): $119* Bring a new attendee and you both pay $119

Stefan Swanepoelis widely recognized as the

leading visionary on real estatebusiness trends, change and

social media.This year’s session:*Real Estate Trends

Nobu Hatais the NAR Director of Digital

Engagement, who brings his skill-setto NAR by delivering value-added

information both in-person and throughthe digital domain.

This year’s session:*The Changing Face of Real Estate

*Lead Generation fromSocial Media

Terry Watsonis a Distinguished Real Estate

Instructor (DRI) who delivered thekeynote address at the 2005 MAR

Conference & Tradeshow.This year’s session:

*Avoiding Real Estate Roadkill*Instructors Gone Wild

Terri Morrisonis co-author of Kiss, Bow or

Shake Hands and has appeared onCNN, CNBC, Bloomberg, BBC and many

other stations across the globe.This year’s session:

*Kiss, Bow or Shake HandsSales & Marketing

Steve Pacinelliis co-founder, Tech Savvy Agent &Vice President, Real Estate Events,

Move, Inc.This year’s session:

*A Day in the Life of the Mobile Agent:Must-Have Apps & Tools

*Connecting with Today’s Mobile& Tech Savvy Consumer

Be sure to enter the WRAR Access Code: WORC13

Richard Robbinsis co-founder & CEO of

Richard Robbins International, Inc.,who has spoken live to over250,000 people worldwide.

This year’s session:*Ignite Your Business

We are proud to haveLee Joseph of Coldwell Banker represent WRAR as our local

REALTOR® of the Year as she competes with 16 REALTOR® members from

other Associations across the state. Consider attending the MAR REALTOR®

of the Year dinner on October 7 and be there to cheer Lee on!

BEYOND THE ORDINARYRegister Now for the 2013 MAR Conference & Tradeshow

With a full line-up of courses, leading national speakers and instructors, Professional AwardsRecognition Dinner, silent auction, and top-notch industry tradeshow,

you won’t want to miss this event!

For the latest info, log on towww.marconvention.com


RENOVATION FINANCING

Thursday, October 10, 201311:30 am to 1:00 pm Worcester Regional Association of REALTORS®492 Washington StreetAuburn, MA 01501FREE to WRAR MembersLuncheon providedRegister at www.wrar.org or call 508-832-6600.

HOMEMORTGAGE

WELLSFARGO

Steve Liedell - Renovation Lending Specialist, Wells Fargo Home Mortgage,closing approximately 50 renovation purchases per year.

Learn how renovation lending can help you generate and sell more listingsLearn how renovation lending can open up more potential properties for your buyers.Learn about renovation loans for second homes and investment propertiesLearn how to differentiate yourself from other REALTORS®Learn how to turn a lemon into lemonade!

Michael McDermott - FHA Consultant

Learn about the role of the FHA Consultant in the renovation loan processLearn about recent trends in renovations to help improve home values

Your host and sponsor:Kwame Bonsu - Retail Sales Manager, Wells Fargo Home Mortgage

Wells Fargo Home Mortgage | 2200 W Park Dr | Westborough, MA 01581MAC M3766-011

Tel (508) 616-1020 | Cell (617) 763-7300 | Fax (866) 932-9882


Lunch & Learn CEU Course #RE25RC08:

The rules have changed regarding the “Good Faith Es�mate.” At our Lunch and Learn session you will learn:

• The New Good Faith Es�mate Rules and how they impact you• How to make sure a “Pre-Approval” from a lender is legi�mate and if you can depend on it.• The mistakes REALTORS® make when relying on “Pre-Qualica�on” le�ers and how you can avoid them.• How to submit stronger offers and be in a posi�on of strength when nego�a�ng.• The 3 important strategies you need to nish your year off strong.

our LLunchh anddd LLearn

Date: Wednesday, October 16, 2013Registra on: 10:30 amProgram: 11:00 am - 1:00 pmPlace: WRAR, 492 Washington Street, Auburn, MACost: FREE to WRAR Members; $30 for all others

The New Mortgage Rulesthat will give youa Leg Up on Your Competition!

Class and Luncheon Sponsored by:A orney Chris ne Zicaro and

Bill Murphy of Fairway Mortgage

Pre-Registra on REQUIRED!Call the Worcester Regional Assn.

of REALTORS® at 508-832-6600or register online at www.wrar.org.


FORECLOSURES & SHORT SALES

Earn 2 CEU’s per class.October 22, 201310 am - 12 pm Foreclosures - RE28RC1212 - 2 pm Short Sales - RE78R13Worcester Regional Assn. of REALTORS®492 Washington Street, Auburn, MAFREE for WRAR Members; $30 for all others

*The basic process of Short Sales & Foreclosures and changes to the processes*Updates on market activity in distressed sales*”Shadow” inventory, government programs and recent litgation*The challenges today’s Real Estate Professionals encounter and strategies for success in dealing with distressed properties

FOUR ways to register: Call the Worcester Regional Assn. of REALTORS® at 508-832-6600, return this form via fax to 508-832-6620, via email to [email protected] or registeronline at www.wrar.org

Name______________________________________________________________________

Company___________________________________________________________________

Address____________________________________________________________________

email______________________________________________________________________

Phone:_____________________________________________________________________


For more info or to register, contact Jacki D’Innocenzo at 508-832-6600 or via email [email protected]. You may also mail or fax this form to WRAR, 492 Washington Street, Auburn, MA 01501 * Fax 508-832-6620.

Wednesday, Oct. 23, 2013College of the Holy Cross8:30 am Registration8:45 am Breakfast Buffet9:00 am Program

2014 Budget2014 Nominating Committee2014 Officers & Directors2014 MAR State Directors2014 Dues Payment Installment Plan

Early Bird Price: $20 before 10/4/13Regular Price: $25 after 10/4Onsite (Walk-ins): $30

2013 ANNUAL MEETING

Contact Name:______________________________________________ Company:__________________________________

Billing Address:_______________________________________________ City/State/Zip_______________________________

Phone:___________________________________________ Email:_______________________________________________

Amount Due__________ ____Check ____American Express ____Discover ____MasterCard ____Visa

Card No______________________________________________________________ Expiration________________________

Signature_____________________________________________________________________________________________


It’s Your Time to Vote The following is the 2014 Slate of Officers, Directors, MAR Directors, and Nominating Committee for the Worcester Regional Association of REALTORS. This information, including Bylaw updates (reverse) and 2014 budget will be on the agenda at the Annual Meeting, October 23, 2013.

The Nominating Committee of the Worcester Regional Association of REALTORS recommends the following slate of Officers & Directors for 2014

WRAR Board of Directors 2014 Term Expires

MAR Board of Directors 2014TwoYear Term

Term Expires

President: David Stead 2014 Directors: Ed Levine 2014 President Elect: Brad Roberts 2014 Jane Fine 2014 Vice President: Kris Koliss 2014 Leslie DelMonaco 2014

Secretary: Sarah Gustafson 2014 Brad Roberts 2014 Treasurer: Conrad Allen 2014 Sarah Gustafson 2014

Immediate Past Pres.: Rochelle Jonswold 2014 David Stead 2015 Rochelle Jonswold 2015

Directors: Leslie DelMonaco 2014 Judy Patterson 2014 Mary Stolarczyk 2014 Alternate: Ericka Hall 2014 Jayne Diliberto 2015 Kris Koliss 2014 Kathleen Cooper 2015 Erika Hall 2015 Tracey Fiorelli 2016 Lee Joseph 2016 Lorraine Herbert 2016

Alternate: Kathleen McSweeney 2014 Diane Dabrowski 2014 Dawne Woods 2014

Once Presidency term is served, President then serves on the Board as Immediate Past President

WRAR Nominating Committee 2014 Rochelle Jonswold Chair, Past President David Stead , President Brad Roberts President-Elect Mary Tavolieri Matteo Gentile Patricia Murray Randall DeVries Sue-Anne Bock Diane DeCiccio Mark Balestracci


of 4 2

Bylaw Changes for 2013 Annual Meeting

CURRENT BYLAW: Article XI - Officers and Directors Section l. Officers. The elected officers of the Board shall be: a President, a President Elect, a Vice President, a Secretary, and a Treasurer. The Secretary and Treasurer may be the same person. Officers shall be elected for terms of one year. The non-elected Officer of the Board shall be the Executive Vice President/Executive Officer, who shall be appointed by the Board of Directors. CHANGE: Addition of: Immediate Past President being included as a non-elected officer of the Board RATIONALE: Housekeeping issue as the Immediate Past President is part of the Executive Committee and an Officer REVISED:Article XI - Officers and Directors Section l. Officers. The elected officers of the Board shall be: a President, a President Elect, a Vice President, a Secretary, and a Treasurer. The Secretary and Treasurer may be the same person. Officers shall be elected for terms of one year. The non-elected Officers of the Board shall be the Executive Vice President/Executive Officer, who shall be appointed by the Board of Directors and the Immediate Past President.

CURRENT BYLAW: Article XI - Officers and Directors Section 2. Duties of Officers (c) Vice President: The Vice-President shall have such powers and shall perform such duties as the Board of Directors may from time to time designate. The Vice President shall be a member of the Budget-Finance Committee and of any other committee to which he isappointed. In the absence, incapacity, or disability of the President-Elect, the Vice President shall perform all the duties of the President-Elect, and when so acting shall have all of the powers of, and be subject to all restrictions imposed upon, the President-Elect.CHANGE: Addition of: The Vice-President is in charge of overseeing the committees to be sure they are on track with the goals of the association.RATIONALE: Housekeeping issue as the duties of the Vice-President include oversight of committees. REVISED:Article XI - Officers and Directors Section 2. Duties of Officers (c) Vice President: The Vice-President shall have such powers and shall perform such duties as the Board of Directors may from time to time designate. The Vice President shall be a member of the Budget-Finance Committee and of any other committee to which he isappointed. In addition, the Vice-President is tasked with overseeing the committees to be sure they are on track with the goals of the association. In the absence, incapacity, or disability of the President-Elect, the Vice President shall perform all the duties of the President-Elect, and when so acting shall have all of the powers of, and be subject to all restrictions imposed upon, the President-Elect.

CURRENT BYLAW: Article XI - Officers and Directors Section 2. Duties of Officers CHANGE: Addition of: The role of Immediate Past President RATIONALE: Housekeeping issue as the duties of the Immediate Past President was excluded from section. REVISED: (g) Immediate Past President: The Immediate Past President shall have such powers and shall perform such duties as the Board ofDirectors may from time to time designate. The Immediate Past President shall be a member of the Budget-Finance Committee and of any other committee to which he is appointed. In addition, the Immediate Past President is tasked with chairing the Nominating Committee.

CURRENT BYLAW: Article XI - Officers and Directors Section 3. Board of Directors(a) Number and Composition. The governing body of the Board shall be a Board of Directors consisting of not less than eleven (11) REALTOR® members, five (5) of whom shall be the elected Officers. Directors shall be elected to serve for terms of three years, except that at organization, one-third of the elected Directors shall be elected for terms of one, two, and three years, respectively, or for lesser terms as may be necessary to complete the first fiscal year. Thereafter, as many Directors shall be elected each year as are required to fill vacancies. CHANGE: Addition of: The Board may include alternate directors who would have voting privileges to meet the requirements of a quorum as defined in Article XII, Section 2b of the bylaws. RATIONALE The position of alternate director is an important one and our current bylaws did not address the position. REVISED:(a) Number and Composition. The governing body of the Board shall be a Board of Directors consisting of not less than eleven (11) REALTOR® members, five (5) of whom shall be the elected Officers. Directors shall be elected to serve for terms of three years, except


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that at organization, one-third of the elected Directors shall be elected for terms of one, two, and three years, respectively, or for lesser terms as may be necessary to complete the first fiscal year. Thereafter, as many Directors shall be elected each year as are required to fill vacancies. The Board may include alternate directors who would have voting privileges to meet the requirements of a quorum as defined in Article XII, Section 2b of the bylaws

CURRENT BYLAW: Article XI - Officers and Directors Section 4. Election of Officers and Directors(a)Nominating Committee. The Nominating Committee shall consist of ten (10) REALTOR® members, one (1) of whom shall be appointed by the Board of Directors, six (6) of whom shall be elected by the members at the annual meeting of members, plus the current President of the Board, the current President-Elect, and the immediate Past President of the Board. At the time the NominatingCommittee submits its report of candidates for office pursuant to Section b hereof, it shall include a list of six (6) candidates for members of the Nominating Committee to be selected by the members at the annual meeting. Additional names may be submitted by the membersto the Secretary of the Board not later than two (2) weeks before the annual meeting of members. The Secretary of the Board shall send notice of such additional nominations to all REALTOR® members eligible to vote before the election. No nominations for members ofthe Nominating Committee shall be accepted from the floor at the annual meeting of members. Members of the Nominating Committeeshall not be eligible as candidates for offices of the Board or its Board of Directors. The criteria for selecting members of the Nominating Committee and the method of selection shall be as defined in the Operating Policies and Procedures of the Board, as amended from time to time. CHANGE: Addition of: The Nominating Committee shall be chaired by the Immediate Past President. The committee members will be eligible to serve a maximum of two (2) successive terms of two years. RATIONALE Housekeeping issue as the chair was not listed and we have now added term limits to the committee. REVISED:(a)Nominating Committee. The Nominating Committee shall consist of ten (10) REALTOR® members, one (1) of whom shall be appointed by the Board of Directors, six (6) of whom shall be elected by the members at the annual meeting of members, plus the current President of the Board, the current President-Elect, and the immediate Past President of the Board. At the time the NominatingCommittee submits its report of candidates for office pursuant to Section b hereof, it shall include a list of six (6) candidates for members of the Nominating Committee to be selected by the members at the annual meeting. Additional names may be submitted by the membersto the Secretary of the Board not later than two (2) weeks before the annual meeting of members. The Secretary of the Board shall send notice of such additional nominations to all REALTOR® members eligible to vote before the election. No nominations for members ofthe Nominating Committee shall be accepted from the floor at the annual meeting of members. Members of the Nominating Committeeshall not be eligible as candidates for offices of the Board or its Board of Directors. The criteria for selecting members of the Nominating Committee and the method of selection shall be as defined in the Operating Policies and Procedures of the Board, as amended from time to time. The Nominating Committee shall be chaired by the Immediate Past President. The committee members will be eligible to serve a maximum of two (2) successive terms of two years.

Additional change to same section: (b) Selection of Candidates for Office. In the first year of adoption of these Bylaws, the Nominating Committee shall select onecandidate for each office, including that of President, and one candidate for each place to be filled by election on the Board of Directors and State Directors. Thereafter, the Nominating Committee shall select one candidate for all offices, except that of the President, and one candidate for each place to be filled on the Board of Directors and State Directors. The report of the Nominating Committee shall be mailed to each member at least four weeks preceding the date of the annual meeting of members. Additional candidates for the offices to be filled may be placed in nomination by a petition signed by at least twenty percent (20%) of the members. The petition shall be filed with the Secretary at least two weeks before the annual meeting of members. The Secretary shall send notice of such additional nominations to all REALTOR® members eligible to vote before the election. Candidates shall meet the criteria delineated in the Operating Policies and Procedures of the Board. No nominations for Officers, Directors, or State Directors shall be taken from the floor of the annual meeting of members.

CHANGE: The report of the Nominating Committee shall be mailed electronically or otherwise to each member at least four weekspreceding the date of the annual meeting of members. RATIONALE Housekeeping issue as we may elect to email the report rather than postal. REVISED:(b) Selection of Candidates for Office. In the first year of adoption of these Bylaws, the Nominating Committee shall select onecandidate for each office, including that of President, and one candidate for each place to be filled by election on the Board of Directors and State Directors. Thereafter, the Nominating Committee shall select one candidate for all offices, except that of the President, and one candidate for each place to be filled on the Board of Directors and State Directors. The report of the Nominating Committee shall be mailed electronically or otherwise to each member at least four weeks preceding the date of the annual meeting of members. Additional candidates for the offices to be filled may be placed in nomination by a petition signed by at least twenty percent (20%) of the members. The petition shall be filed with the Secretary at least two weeks before the annual meeting of members. The Secretary shall send notice of such additional nominations to all REALTOR® members eligible to vote before the election. Candidates shall meet the criteria delineatedin the Operating Policies and Procedures of the Board. No nominations for Officers, Directors, or State Directors shall be taken from the floor of the annual meeting of members.


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CURRENT BYLAW: Article XII- Meetings Section 2. Meetings of Directors (b) Quorum. At any meeting of the Board of Directors, a quorum for any election or for the consideration of any question shallconsist of a majority of the Directors then in office. Whether or not a quorum is present, any meeting may be adjourned from time to time by a majority of the votes properly cast upon the questions, and the meeting may be held as adjourned without further notice when a quorum is present at any meeting. The votes of a majority of the Directors present shall be requisite and sufficient for election to any office and shall decide any question brought before such meeting, except in any case where a larger vote is required by law, by the Articles of Organization, or these Bylaws. CHANGE: Addition of: A quorum is defined as 2/3 of the Directors in attendance.RATIONALE: Housekeeping issue as Quorum was not clearly defined. REVISED:Article XII- Meetings Section 2. Meetings of Directors (b) Quorum. At any meeting of the Board of Directors, a quorum for any election or for the consideration of any question shallconsist of 2/3 of the Directors in attendance. Whether or not a quorum is present, any meeting may be adjourned from time to time by a majority of the votes properly cast upon the questions, and the meeting may be held as adjourned without further notice when a quorum is present at any meeting. The votes of a majority of the Directors present shall be requisite and sufficient for election to any office and shall decide any question brought before such meeting, except in any case where a larger vote is required by law, by the Articles of Organization, or these Bylaws..


DR BREAKFASTEvents designed specifically for Broker-Owners, Managers and Team Leaders:

Broker’s Compensation – When, Where and How!! Join your fellow brokers as they discuss current market trends with Boston Board General Counsel William Mullen moderating a lively discussion.

Date: Friday, Oct. 25, 2013 Breakfast: 8:30 amProgram: 9:00-10:00 amQ&A: 10:00-10:30 amLocation: WRAR, 492 Washington St., Auburn, MA 01501Price: $15Instructors: William G. Mullen III, Esq., Legal Counsel & Director of Risk Management, GBAR

PROFESSIONAL STANDARDS TRAININGAre you interested in becoming a member of the Professional Standards Committee? Then you MUST attend this required class. The purpose of this program is to teach participants about the procedures of ethics and arbitration hearings. The participants in this program will be able to demonstrate an understanding of the REALTOR® Professional Standards process, including the functions and responsibilities of the Grievance Committee, the Professional Standards Committee and the Board of Directors. More specifically, the course will focus on how to be an arbitration or ethics panelist. The procedures and possible results of hearings will be covered along with an investigation of the factors to be consid-ered in the determination of procuring cause. This course also meets the requirement of NAR’s mandatory quadren-nial ethics training and offers two hours of continuing education credits. To register, please complete the following information and send to Ashley Stolba via email at [email protected] or via fax at 781-839-5570. Registrations are accepted on a first-come-first-serve basis. Registration closes October 16, 2012. Date & Time: Friday, Oct. 25, 2013; 1:00 - 4:00 pmLocation: WRAR, 492 Washington St., Auburn, MA 01501Price: Free for WRAR MembersInstructors: William G. Mullen III, Esq., Legal Counsel & Director of Risk Management, GBAR

If you are interested in the Professional Standards Committee and in attending this training, contact Colleen Pappas, WRAR EVP, at 508-832-6600, x106.


GOVERNMENT AFFAIRS COMMITTEE HUD Policy on Dual Agency AgreementsFROM: NAR Government AffairsDATE: 23 September 2013

As reported earlier this week, NAR Government Affairs informed you that on October 1st HUD would be implement-ing a new policy that would have prevented dual agency agreements in FHA pre-foreclosure transactions.

NAR has been working with HUD closely to modify the policy. This afternoon HUD reported to NAR that they will reissue the July Mortgagee Letter and remove all dual agency language (Part Three of the PFS Participation Requirements).

The result is that the dual agency policy will not be implemented on October 1, 2013 allowing NAR to continue the dialog with agency officials on a formal solution.

HUD announced the policy change in response to fraud and abuse detected by the HUD Inspector General in the pre-foreclosure sales process.

The letters sent to HUD by our State and Local Association Presidents highlighted NARs concerns about the policy and the disruptive effect its implementation would have on communities across the nation.

Thank you for your quick response and assistance. We will continue to keep you apprised of any additional developments.

In their 14th annual celebration of up-and-comers in the Central Massachusetts busi-ness arena, the Worcester Business Journal has honored our very own Sarah Gustafson. Like their 520 alumni, the members of the 40 Under Forty Class of 2013 all have unique stories to tell. Sarah, of Coldwell Banker in Sturbridge, resides in Webster and is the Chairman of our Committee on Government Affairs.

This year’s honorees were selected after a months-long call for nominations, in which dozens were received. This year’s panel of judges included Barbara Clifford of the

CorridorNine Area Chamber of Commerce, Rodney Capron of Pongo LLC and Synthenet Corp. in Northborough (and a 40 Under Forty honoree, Class of 2008), Joe Cox of The Ecotarium in Worcester, and Maureen Grenier of Mirick O’Connell (a 40 Under Forty honoree, Class of 2010). Each nomination was evaluated based on the individual’s career trajectory, as well as his or her commitment to the local community. See each honoree’s biography below.

To read Sarah’s complete bio, visit http://www.wbjournal.com/article/20130902/PRINTEDITION/308309984/1002

Congratulations to Sarah Gustafson!

Please consider check-ing off the RPAC box on your dues invoice and giving your fair share so that we can continue our legislative efforts on your behalf.


LEGAL CORNER

MAR Legal Hotline

National Flood Insurance Program The National Flood Insurance Program (NFIP) has be-come a hot topic lately. REALTORS must be aware of the possible changes to NFIP, and be sure to take steps to avoid potential claims of misrepresentation by property purchasers who acquire property before such increases take effect and are later subject to substantial increases in their flood insurance premiums. What is the Biggert-Waters Flood Insurance Reform Act of 2012?The Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12) is a law passed by Congress and signed by the President in 2012 that extends the National Flood Insur-ance Program (NFIP), a government program that pro-vides flood insurance coverage to homeowners and busi-nesses, for five years. The Act also requires significant program reform, including phasing out subsidized flood insurance rates and redesigning the rate structure so that the premium structure more adequately reflects the true risks and costs of flooding. For those who own properties located in flood-prone areas, homeowners may see a 25 % increase in premium rates each year until premiums reflect full risk rates, as early as October 1, 2013. NAR is, however, working with Congress to pass a bill to delay and alleviate some of the impacts.

If a property is not currently in a flood zone, could it be located in a flood zone in the future?Yes, it could be. In addition to the changes resulting from the Biggert-Waters Flood Insurance Reform Act, FEMA also began a routine redrawing of federal flood maps in 2009, some of which hadn’t been updated in decades. This re-mapping will result in some properties changing to higher-risk zones, which will mean significantly higher premiums; it could also result in some properties chang-ing to lower-risk zones. If I am selling a property that may require flood insurance, or that is located in areas where the purchase of flood insurance may be prudent, what steps should I take to protect myself, and act in the best interest of my client?

Michael McDonagh, MAR General Counsel, and Ashley Stolba, MAR Associate Counsel

• In general, the Massachu-setts Consumer Protection Act, Chapter 93A, requires REALTORS to disclose ad-verse material features, conditions, or aspects of property of which they have actual knowledge. REALTORS normally are not re-quired to investigate or discover potential defects in a property; therefore, it is unlikely that there would be an affirmative duty for REALTORS to determine wheth-er a property is in a flood zone or otherwise in an area likely to be subject to flooding or flood risks. However, if a REALTOR has actual knowledge that a property being marketed for sale is in an area where flood in-surance is required, or has specific knowledge that flood insurance has been required for that particular property in the past, those facts should be disclosed to the buyer. This same holds true if the REALTOR has actual knowledge that the area in which the property is located has experienced flooding or is subject to flood risks that cause many or most owners to pur-chase flood insurance – those facts should also be disclosed, even if not asked.

• It is always advised that you be the “source of the source.” Therefore, you should be prepared to point prospective purchasers to “official” sources or those otherwise known to be competent and reliable re-garding Flood Insurance. These might include publi-cations, pamphlets, or similar materials prepared or distributed by FEMA or other federal or state agen-cies or departments, or other sources known to be credible. Some reputable sources include: http://www.fema.gov/flood-insurance-reform-act-2012 and http://www.floodsmart.gov/floodsmart/. The Na-tional Association of REALTORS has a lot of helpful information at: http://www.realtor.org/topics/nation-al-flood-insurance-program-nfip/resources.

• It is also advisable to recommend that potential pur-chasers contact multiple suppliers of flood insurance policy coverage to receive more information about flood insurance coverage and rates. Brokers and agents should not recommend or endorse any par-ticular carrier, and it is prudent to identify more than one carrier and encourage interested buyers to com-pare flood insurance carriers.


2013 BOARD OF DIRECTORS

President, Rochelle JonswoldPres. Elect, Dave Stead

Vice President, Brad RobertsSecretary, Kris KolissTreasurer, Mary Gale

Past President, Diane DeCiccio

Jayne DiLiberto, DirectorTony Economou, DirectorSarah Gustafson, Director

Erika Hall, DirectorLorraine Herbert, DirectorJudy Patterson, DirectorJudy Reynolds, Director

Mary Stolarczyk, DirectorLeslie Storrs, Director

Kathleen Cooper, AlternateTracy Fiorelli, AlternateGina Lewis, Alternate

WRAR STAFF

Executive VP, Colleen Pappas

Membership Manager, Lisa Sprague

Programs & Events Coordinator, Jacki D’Innocenzo

Staff Accountant, Maura O’Connor

Administrative Assistant, Lynne Walls

WRAR office hours are 9:00 am—5:00 pm. For assistance with the MLS Lockbox system, please make an appointment with Lynne Walls at 508-832-6600.

Please LIKE our facebook page at https://www.facebook.com/WorcesterRegion-alAssociationof-REALTORS.

By doing so you will not only get up-to-the-minute information on every-thing going on at WRAR, but you will help us to increase our visibility while growing your own business network.

LEGAL CORNER (contined)• If you suspect that flood insurance may be required or prudent, you should

advise prospective purchasers that due to recent changes to the NFIP, com-bined with re-mapping of the flood zones, flood insurance rates could be high-er than in the past. Such advice should explain that current flood insurance premiums are not representative of rates in the future and that rates may in-crease. An example of a disclosure statement that could be used for this pur-pose has been drafted by the National Association of REALTORS, and is cop-ied below. Brokers and agents may also use different methods or language in communicating information about flood insurance, but it is advisable to do so in writing. In circumstances where flood insurance is not required and there is no reasonable basis for a broker or agent to believe that it may be required or is prudent to have, no such disclosure need be provided.

SAMPLE DISCLOSURE:Your mortgage lender [may] [will] require you to purchase flood insurance in con-nection with your purchase of this property. The National Flood Insurance Program provides for the availability of flood insurance but also establishes flood insurance policy premiums based on the risk of flooding in the area where properties are located. Due to recent amendments to federal law governing the NFIP those pre-miums are increasing, and in some cases will rise by a substantial amount over the premiums previously charged for flood insurance for the property. As a result, you should not rely on the premiums paid for flood insurance on this property pre-viously as an indication of the premiums that will apply after you complete your purchase. In considering your purchase of this property you should consult with one or more carriers of flood insurance for a better understanding of flood insur-ance coverage, the premiums that are likely to be required to purchase such in-surance and any available information about how those premiums may increase in the future.

If you have any questions on the National Flood Insurance Program, we suggest you visit the website mentioned above. Additionally, you may call the Legal Hotline at 1-800-370-LEGAL.

Congratulations to our newest REALTOR® members, pictured here with 2013 WRAR President, Rochelle Jonswold (front row, end), at Septem-ber’s New Member Orientation.

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