charleston trident association of realtors annual report | 2009

8/9/2019 Charleston Trident Association of REALTORS Annual Report | 2009

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2009 A nnual R eport

2009 A nnual R eport


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2009 Boards of Directors

2009 Boards of Directors

Chris Cunni eCID President

Kristie RoeCID Vice President

Directors Kim Hinshaw Mike Ferrer

John Tecklenburg Joe Keenan

Mike RoseImmediate Past President

Ralph WetherellCTAR President

Jeremy WillitsCTAR President-Elect

Rob WoodulVP of Administration

Herb KogerVP of Finance

Directors Owen TylerPam Bishop

Cyndy BurrisPreston Hipp

Ken RoeBryan Crabtree Angie Johnson

Kathy Jordan RawersDiane Johnson

Wil Riley Immediate Past President

Sandy StoneHonorary Director

Gettys Glaze MLS President

David Smythe MLS Vice President

Angie Bailey Secretary/Treasurer

Directors Bretta Grant Taylor

Casey Murphey

Randy Poole Joseph Klosik

Herb SassNancy Roettger Warren Sloane Anne Whalen

Linda WitteImmediate Past President


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Total REALTORSMember CompaniesTotal A liatesTotal Non-Members

Nov 2008

4,357918112

1,156

Nov 2009

3,92572370

716

mEMBERSHIP

memBERSHIP

MEMBERSHIP BENEFITS ADDED IN 2009

Realtors Federal Credit Union opened for business

A ordable health insurance options for Realtors

Hundreds of Free or at-cost resources provided by theRight Tools, Right Now program

Public property search on CharlestonRealtors.com

Find a Realtor search on CharlestonRealtors.com

Free Monthly Lunch & Learn programs

18 free courses o ered during Realtor Tech Week

CTAR o ces opened on Saturdays

Free Monthly Happy Hour Networking Events

Free courses for Commercial Members

Restructured, reduced late fees for member dues

Monthly professional statistics reports and videos

Development of Member Library, CTAR onDemand

Realtor Dues Breakdown

PROFESSIONAL STANDARDS

Complaint Packages Requested

Requests for Dispute Resolution

Realtor Mediation

Arbitration Requests ReceivedEthics Complaints Received

125

15

3

816

127

3

3

922

2008 2009


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REALTORS OF DISTINCTION


David Kent was named 2008 Realtor of the Year


153 Realtors attended the Realtors of Distinction Awards Ceremony and 107 were named Realtors of Distinction. ere were 9 Commercial Circlerecipients, 48 Directors Circle recipients, 19 Presidents Circle recipients, 30 Executive Circle recipients, and 1 Rookie recipient. e event was held at the on Daniel Island. Jim Ge ert from Dale Carnegie presented a program on attitude, memory, and sales training.

2008 REALTOR OF THE YEAR

During the 2009 Realtors of Distinction program, David Kent of the Real Buyers Agent was named 2008 Realtor of the Year. David is a 14-year vetethe real estate industry and the Broker in Charge / Co-Owner of e Real Buyers Agent, Charlestons rst exclusive buyers agent brokerage. e award recnizes Kents contributions to the local, state and national real estate industries and associations, as well as his commitment to bettering the community.

2009 REALTOR OF THE YEAR

During the 2009 Holiday Gala, e Charleston Trident Association of Realtors named Alexander (Sandy) Stone as the 2009 Realtor of the Year. Sandy been an active member of the Realtor organization at all levels during his twenty ve plus years in the business, as a broker-in-charge of both sales and management rms.

Realtor of Distinction recipients Sandy Stone was named 2009 Realtor of the Ye


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EDUCATIONeducation

2010 Gold Cards are now on sale through Ja 31, 2010 or until the limit of 500 cards are

.For $100, you are allowed unlimited admis

CE courses, and discounts on other cour

Since most licensees will have to renew inthe Gold Card can save you more than $2

INCREASING EDUCATION AND PROFESSIONALISM

In 2009, our records show more than 2,972 attendees for 81 continuing education courses o ered at CTAR.roughout the year, attendance in CE courses continued to increase, likely due to the almost 500 members who

took advantage of the Education Gold Card and had unlimited attendance to all CE courses.

Many 2009 Gold Card holders took advantage of the discounts o ered on new certi cation courses.

A total of 446 attended designation and certi cation courses thanks to additions suchas the Loss Mitigation Certi cation , which covers information speci c to the state of

South Carolina regarding Foreclosures, Short Sales, REO Sales (bank owned) & Auctions.is course was rst o ered in October, and sold out 65 seats in record time. is certi cation will be o ered

throughout 2010, with a discount for Gold Card holders.

In November, we o ered the new Short Sale and Foreclosure Certi cation (SFR) course to 75members, which focuses on training Realtors to manage short-sale, foreclosure, and real-estateowned transactions, and provides resources to help Realtors stay current on national and state-

speci c information as the market for distressed properties evolves. e SFR course will be o ered again in January.

REALTOR Education

gold cardplan your 2010 education course cycle

+ register at www.CharlestonRealtors.com

unlimited CE course attendance in 2010 |discounts on some designation courses |

LUNCH AND LEARN

New for 2009, Lunch and Learn programs provided informal and FREE training from local experts and utilizedmany of the resources provided by NARs RIGHT TOOLS RIGHT NOW program. In addition to live speakers,

we also hosted a number of webinars and panel discussions. Twenty-three Lunch and Learns were o ered, with themost popular topics being: April-Short Sales, June-$8,000 Tax Credit Explained, and December- Jump-Start toBusiness Success.

Rooki e R EALTOR

An average of 20 CTAR rookie members took advantage of a free program calledRookie Realtordesigned forRealtors who have been in the business for 2 years or less. ese breakfast meetings were heldevery other month during the year and the best attended session was on Lease Option- Rentto Own with Judy Wolk, discussing legal implications of leasing and RTO options.

BROKER SOCIETY

A dedicated task force of Brokersre-created the purpose and content Broker Society to support the evolvbrokerage needs.

e best attended sessions in 2009 were April Broker BusinessImprovement session and

August-Social Networking sessio


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MLSMLS

Moving the MLS Forward in 2009.. .

Adopted Department of Justice approved rules for Virtual O ce Websites (VOW)Setup VOW Agreements/License and FeedsCreating agreements for Participants to request custom data feeds for internal useCerti ed RETS compliant by the National Association of REALTORSIntegrated listings into www.charlestonrealtors.com

Added new Property Type eld and Styles to List It Added Designations to List IT Added ability for agents to designate what languages they speak Added Sellers Concession eld to Sold form Added new consumer URL feature Added Market Condition Addendum (Form 1004MC) to List ItNegotiated new lockbox contract and began selling new NXT model lockboxesNegotiated contracts with tax data providerPartnered with 10K Research to produce monthly statistical reports

Sing l e-Fam 3 ,681Tow nh ou se 2 ,0 93

Local Market UpdatesA freeresearchtool fromthe CharlestonTridentAssociationof REALTORS

2008 2009 Change 2008 2009 Change

NewListings 455 445 - 2. 2% 7 ,7 38 6,834 -11ClosedSales 159 278 + 7 4. 8% 2 ,9 15 2,712 -7MedianSalesPrice* $246,500 $235,000 - 4 .7 % $ 27 4, 95 0 $250,000 -9AverageSalesPrice* $347,664 $300,532 - 1 3 . 6% $ 3 96 , 75 2 $352,918 -11Percentof OriginalListPrice ReceivedatSale* 90.1% 90.2% + 0. 1% 9 1. 3% 88.6% -2AverageDayson MarketUntilSale 109 108 - 1.2% 113 124 + 9InventoryofHomesforSaleatMonthEnd 4180 3681 - 11.9% -- --*Doesnotaccountforlistpricesfromanypreviouslistingcontractsorsellerconcessions

2008 2009 Change 2008 2009 ChangeNewListings 207 193 - 6. 8% 3 ,5 25 3,027 -14ClosedSales 37 83 + 1 24 .3 % 1 ,2 54 946 -24MedianSalesPrice* $188,760 $174,500 - 7 .6 % $ 20 4, 00 0 $169,792 -16AverageSalesPrice* $258,638 $237,592 - 8 .1 % $ 35 1, 60 9 $243,327 -30Percentof OriginalListPrice ReceivedatSale* 89.2% 88.2% - 1. 2% 9 2.1 % 88.9% -3AverageDayson MarketUntilSale 161 150 - 6.8% 117 133 + 13InventoryofHomesforSaleatMonthEnd 2339 2093 - 10.5% -- --*Doesnotaccountforlistpricesfromanypreviouslistingcontractsorsellerconcessions

Charleston CountyCounty:CHS

November Year to DateTownhouse-Condo Attached

November Year to DateSingle-Family Detached

Single-FamilyDetached Townhouse-CondoAttached

YTDNew Listings

7,738

3,525

6,834

3,027

20082009

Someofthefiguresreferencedinthisreportareforonlyonemonthworthof activity.Assuch,theycansometimeslookextremeduetothesmallsamplesizeinvolved.

- 11.7% - 14.1%


YTDClosed Sales

2,915

1,254

2,712

946

20082009

- 7.0% - 24.6%


YTDMedianSales Price

$396,752$351,609$352,918

$243,327

20082009

- 11.0% - 30.8%


YTDPercentof Orig.ListPrice Received91.3% 92.1%88.6% 88.9%2008

2009

- 2.9% - 3.5%


YTDDaysonMarketUntilSale

113 117124133

20082009

+ 9.9% + 13.4%


InventoryofHomesforSaleatMonthEnd4180

2339

3681

2093

11-200811-2009

- 11.9% - 10.5%

Alldatafrom theCharleston-TridentAssociationof REALTORS.Reportsarecreated andmaintainedby 10K ResearchMarketing.Deemedreliablebut notguaranteed.Consult youragentfor marketspecifics.

Monthly statistics reports are now available to all CTAR members at no cost.In 2010, we will o er quarterly video updates on market statistics (click above to play a

A property search is now available to the public at CharlestonRealtors.com

Residential users group Accomplishments

Approved additional elds be added to IDX feed Approved addition of ownership eld Appointed School District task force up update school district data

Commercial users group Accomplishments

Updated Input formsReviewed relationship with Charleston Regional Development Alliance (CRDA)

LOOKING TOWARDS 2010. ..

Review and Update bylaws according to NAR Finalize agreement with Dorchester Co. to bring in Covenants & Restriction data

Working with NAR on the upcoming REALTORS Property Resource

Lockbox Users

17,480 active lockboxes3,747 active smartcards


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COMMERCIAL INVESTMENT DIVISIONCOMMERCIAL INVESTMENT DIVISION

Chris Fraser was named 2009 Commercial Realtor of t

e Commercial Investment Division (CID) had a fantastic 2009, increasing membership to more than 170Commercial Realtors and a liates. e year started o with the Annual CID Oyster Roast at Gold Bug Island,

with more than 100 commercial members in attendance.

e monthly CID luncheons boasted an average attendance of 85 members, and heard from a fantastic lineup of speakers throughout the year, such as North Charleston Mayor Keith Summey, MUSC President Dr. Ray Greenberg,NAR Tax Counsel Linda Goolde, and the newly appointed CEO of the SC State Ports Authority, Jim Newsome.

Jim HOchman TEACHES AVOIDING LITIGATIONIn November, CID hosted a special program at no cost to CID members. With the help of an NAR RCA Accredited

Association Grant, CID was able to bring in a nationally-recognized speaker, Jim Hochman to teach a 4-hour CEcredit course, Avoiding Litigation. About 100 CID, CCIM, and SIOR members attended the course.

COMMERCIAL MARKET FORECASTe annual Commercial Market Forecast was held on October 21 at

Trident Technical College with approximately 250 Commercial Realtorsand other industry professionals in attendance.

Jed Smith, Managing Director of Quantitative Research for the National Association of Realtors gave the Keynote address, telling attendees that ithad been a long, hard road but that the numbers appear to be headingin the right direction.

Panelists Brent Case, Bob Barrineau Jr., Bob Caldwell, and Ashley Heggieechoed Smiths sentiments and presented forecasts in their respective areasof expertise.

Commercial Market Forecast Panelists with Keynote Speaker, Jed Smith

Keynote Speaker, Jed Smith


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l o ca l aCHIEVEMENTS

e year was highlighted by working to protect core Realtor values of private property rights, free transfer oproperty and improving our quality of life.

Locally, the year was spent helping and advising local governments how to become more attractive to economdevelopment and commercial investments. Mount Pleasant made signi cant changes to their impact fee legisthat will help bring about new ordinances geared to increasing housing a ordability.

We launched PreserveOurLowcountry.com, a new grassroots web site geared to promoting the qualities of theLowcountry that attract home buyers and jobs to the area. In conjunction with that initiative, CTAR held a ser

workshops looking at how to promote the buildingof better communities by bringing in form-basedcode consultants.

e 2009 election season was dominated by local elections highlighted by those in the City of Charleston, MoPleasant, Summerville and the Isle of Palms. 2009 Realtor of the Year Sandy

won a seat on the Isle of Palms City Council.

In 11 of the 13 races that CTAR took a position on candidates, the candidate tha won was either rated quali ed or recommended by CTAR as Realtor grassadvocates got involved, engaged and took action to help quali ed candidates geelected to o ce.

Toward the end of the year, CTAR strengthened its position as the Voice of Real

Estate, and successfully worked with the City of Charleston to eliminate languthe Charleston Green Plan which would have called for a real estate transfer feecreated barriers to transferring property and eroded private property rights.

GovernmenT AFFAIRSGOVERNMENT AFFAIRS

nATIONAL aCHIEVEMENTS

Not only did REALTORS get an $8,000

rst-time home buyer tax credit passedthrough Congress, but our grassrootsadvocacy resulted in an extension andexpansion of the tax credit to April 2010.

Other national issues addressed werefurther reform of Fannie Mae andFreddie Mac, loan limit extensions andthe biggest accomplishment aCongressional ban on banks in real estate.

statewide aCHIEVEMENTS

At a state level, Realtors pushed throughPoint of Sale reform through the Houseof Representatives and were instrumentalin setting the bill on priority status in theS.C. Senate for when legislators return in2010.

Passing Point of Sale reform is the surestand best way to stimulate our economy through new investment and jobs intothe state. is remains Realtors topobjective heading into 2010.


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EventsEvents

JEREMY CONAWAY To kick o 2009, CTAR hosted nationally-recognized speaker Jeremy Conaway, wprovided two programs for CTAR members: e Road to Success for Agent members which had about 360 attendethe Path to Pro tability for Broker members which had about 120 attendees. e day was a huge success and o eplenty of valuable information for a great start to the year to our Realtor members.

GROWTH FORUMS is year, we hosted four Regional Growth Forums, covering Mt. Pleasant, Charlesto West Ashley, Berkeley & Dorchester, and the Neck/North Charleston. Each forum featured expert panelists address

current issues in their areas, such as transportation, growth, schools and new development. Approximately 100 Reaattended each forum, three of which we were able to o er at no cost to our members.

NETWORKING HAPPY HOURS CTAR hosted regional networking Happy Hours this year, with aaverage about 20-40 Realtors attending each month. e largest Happy Hour was downtown at the new Cigar Fac

with more than 100 Realtors in attendance!

NATIONAL ASSOCIATION PRESIDENT VISITS CHARLESTON 2009 National Association of Realtors President Charles McMillan visited Charlestonto speak to local Realtors about new programs being implemented andNAR continues to ensure that Realtor issues are being addressed in Wash

HOLIDAY GAL A Held December 3, nearly 300 Realtors, inclunew leadership, past presidents, and a liate members attended the festivat the Doubletree Hotel, in downtown Charleston. e 2010 CTAR, MLSCID Leadership were installed and Sandy Stone of Island Realty was nam2009 Realtor of the Year.

Jerry Matthews In December, CTAR hosted the secondnational speaker of the year. Jerry came to Charleston and presented ourmembers with a half-day program Creating Your Success, which focusforecasting market trends going into 2010 and how to use this knowledgstay ahead of the curve and build your business, no matter the economicclimate. About 150 Realtor members and A liates attended this progTrident Tech.


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REALTORS GIVING BACKREALTORS giving backe Reading with Realtors program pairs local members of the Charleston Trident Association of Realtors (CTAR

elementary aged (grades 1-4) students for a semester. e Realtors must attend a training session prior to working wthe students, who, prior to their participation in RWR, had been identi ed as reading below their grade level. eRealtors work with the students for one hour per week, helping them develop a love for reading.

Now in its third successful year with over 40 children in the program, CTAR has contributed books and supplies for tprogram and from time to time has hosted events in conjunction with the school to honor and motivate the children.CTAR partnered with several real estate brokerages in the Lowcountry for a summer book drive and collected more

1,000 books, which were given to the students to encourage reading throughout the summer.

e Reading with Realtors program produced signi cant improvement in student MAP (Measure of Academic Progtest averages. MAP test scores from students in the RWR program were an average of 2 points higher than grade levaverages.

Wycko & DeMott, P.C. and e Steinberg Law Firm raised funds and collected more than 200 books for the Reading with Realtors program.

Realtors celebrate a successful 2009 over cookies and cocoa in December.

e Charleston Ballet theare invited RWR students to a special performance.


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RHOFRHOFREALTOR HOUSING OPPORTUNITY FUND

Realtor Care Day, October 2009

Terry and Elizabeth Naguib, who found ahome because of the RHOF Habitat Build

Carroll Realty has donated more than$150,000 since they began donating to

RHOF through Escrow and Closing g iving

REALTORS HOUS ING OPPORTUNITIES FUND

As with most charitable organizations in a down economy, the Realtors HousingOpportunities Fund (RHOF) also saw a bit of a decrease in funds this year. e fundraised over $34,000 and granted out $48, 517 to the following charitable organizations:

Lowcountry Housing & Economic Development Foundation | Charleston Area CDCDorchester Habitat for Humanity | Lowcountry Contiuum of Care PartnershipEast Cooper Habitat for Humanity | Home Works of America | Rural MissionCrisis Ministries | Operation Home | Sea Island Habitat for Humanity Lowcountry Housing Trust | United Methodist Relief Center

REALTORS CARE DAY

e Housing Opportunities Committee introduced a new initiative in 2009, RealtorsCare Day. is quarterly day of caring was launched as many Realtors were not be ableto make monetary donations to the Realtors Housing Opportunities Fund to supporttheir communities, but wanted to donate their time and service.Realtor Care Days were held in June and October with members volunteering for thelocal Habitats for Humanity in Mount Pleasant, Johns Island and Charleston.

RHOF DONOR APPRECIATION EVENT

Recognizing our changing economic environment, the Housing OpportunitiesCommittee felt it important to show thanks to those that have supported us from thebeginning. We held a RHOF Donor Appreciation Party in June at the CTAR o ces inviting allsupporters of RHOF--sponsors of RHOF Fundraising events, Realtor donors, and alsothe leadership from the organizations to which RHOF grants funding. e party was agreat success with about 50 supporters attending at such an important time to say thank you.

Realtor Habitat House Dedica

Mrs. White received RHOF fundsher home to liveable condit


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mARKET fACTSmarKET fACTS

2009 Market recap

*all data and information is current as of December 10, 2009

During the rst quarter of 2009, the Charleston marketstruggled to regain its footing after the tumultuous endof 2008. January started the year with the lowest salesthe area has seen in more than eight years, and a

median sale price of $176,750, comparable to end-yearnumbers in 2004.

However, throughout the year, sales increased steadily and median sale price rose at a slow, but healthy pace.By June, sales were back into the 700s for the monthand median sale price peaked at $193,000. July saw anannual sales high of 796.

November saw an unprecedented 783 sales, an 80%increase from the same time, one year ago. is wasthe rst time sales had shown an increase in Novembersince 2007.

Going into the nal month of 2009, the Charlestonmarket continued to show signs of recovery. Whileyear-to-date sales are approximately 11% less than2008 levels and median sale prices are down about 9%,the consistent month-over-month gains weve seen inthe nal months of 2009 suggest a stabilizing market.

e expansion and extension of the homebuyer taxcredit should help the market continue to grow andrecover into 2010.

TOTAL SALES


median sale price



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StaffSTAFF

Te r r y H y d e K e t c h e m | C h i e f e x e c u t i v e o f f i c e rS a r a P e r ry | Vi c e p r e s i d e n t o f o p e r a t i o n s

L at oya m i d d l e t o n | a d m i n i s t r a t i v e a s s i s t a n t

f r a n b o y d |a c c o u n t i n g m a n a g e r

L o r a A b l e | d i r e c t o r o f e d u c at i o nS h e r r y M a r t i n | e d u c a t i o n a s s i s t a n t

t e e n a m a r t i n da l e | m e m b e r s e r v i c e s d i r e c t o rm a r y h e s s | m e m b e r s e rv i c e s c o o r d i n a t o rm a r v i t a t h o m a s | m e m b e r s e rv i c e s c o o r d i n a to r

J e s s i c a f r ya r | m e m b e r s e r v i c e s c o o r d i n a to r

m e g h a n b y r n e s We i n r e i c h | market ing + communicat ions di rectorrya n c a s t l e | g o v e r n m e n t a f f f a i r s d i r e c t o r

j o s e p h c u l l o m | i n f o r m a t i o n t e c h n o l o g i e s d i r e c t o rc l a i r e h a rt | e v e n t s c o o r d i n a to r


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-8 4 3 . 7 6 0 . 9 4 0 0

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charleston trident association of realtors annual report | 2009

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