nar national - nocbor
TRANSCRIPT
Ann Peterson NOCBOR President
Goodbye Summer – Hello Fall!
As much as I love summer, I love fall, just
as much because it is a time of renewal, change
and a time to reflect, relax and prepare for the
coming year!
I hope everyone is having a successful year
and taking time to attend the many workshops
held at the Board and completing the yearly
continuing education. The deadline is fast
approaching!
So much has happened since the last
newsletter! On September 18, several of us
attended Capitol Day with the Michigan
Realtors®. Over 200 Realtors® walked the
halls and spoke with our State Representatives,
informing them of the legislation that will be
affecting our industry. It is so exciting to
watch the House of Representatives in action!
Also, walking through the State Capitol and
admiring the workmanship of years past in our
majestic Capitol building is something you
should see. If only the walls could talk!
Many of us also attended the Michigan
Realtors® Convention held in Detroit, October
2-4. It was great to have the event in our
backyard. A few years ago when we lost our
highly active and insightful Bill Haviland, we
developed the Bill Haviland Tribute Fund
which would allow us to choose a recipient
based on incredible academic leadership. This
years’ recipient was Terrie Junkin,
(RE/MAX Nexus). I have known Terrie for
many years and she has continually attended
State and National Conventions, completed the
NAR Commitment to Excellence program
and earned the registration to the annual
Michigan Realtor® Convention and one night
lodging this year! Congratulations Terrie
Junkin!
Every year we also choose a Realtor®
Active-in-Politics and this year Jenifer
Rachel, (Keller Williams Premier), was
selected. Jenifer is active as Vice Chairman of
our Government Affairs Committee and serves
on MR® Public Policy Committee. Her
dedication to our industry has earned her this
honor. Congratulations Jenifer Rachel!
We also selected NOCBOR Realtor®-of-
the-Year. I was honored to be chosen. I strive
to make sure that our industry has a voice and
representation so we can continue having the
best profession to earn a living while creating
a life! I am truly grateful to represent our
membership! Thank you.
The Convention featured some amazing
speakers including, Col Nicole Malachowski,
a retired US Air Force officer who was the
First Female Pilot selected to fly as a
Thunderbird. Her story is as exciting and
remarkable as flying high in the sky with this
precision! There were many great classes from
technology to inspiration. If you have never
attended, you need to - words cannot begin to
describe what an amazing experience it is!
Our Annual Membership Meeting was
held on 10/8 at the MSU Education Center in
Troy. We had the honor of the Assistant
Attorney General Scott Teter speak on Elder
Abuse and was it startling. I hope that
everyone uses care and due diligence when
dealing with the elderly or any vulnerable
adults over the age of 18. Stay tuned for other
opportunities to attend great events like this
one.
Election Time
Important elections are coming up on
November 5, with many ballot initiatives for
every community. If you have not checked out
the various ballot initiatives you should
take the time to learn what is happening in the
communities you service and see if any
will affect private property rights, our
profession they have an impact on the future
real estate market. If you are not registered to
vote there is still time.
What’s on the horizon? The National
Association of Realtors® Convention in San
Francisco, November 6-11. As your President,
I am looking forward to this event because so
many changes will be occurring in our
industry, in the near future, that being in the
know will help us make better decisions at the
local level. If you have not attended, add this
to your Bucket List. I will be reporting back in
the next newsletter.
What else is happening in our industry?
* Second Homes and Vacation Rentals
* Can buyers photograph a seller’s property
* Coming Soon and other Off-MLS listings
* Land Division from a Seller’s Perspective
* Criminal Background Checks
* Contingency Clauses in a Purchase
Agreement.
* Facebook required to reform its
advertising platform
* Dual Agency in the Hotseat
* Copyright law-Photographs and Other
Creative Listing Components
And last, but not least,
* After the Legalization of Recreational
Marihuana
This is some great information to follow
up on and learn about. Any questions, reach
out to your Michigan Realtors® for more
information.
Lastly, to acknowledge the hard work
and dedication of Mary Rettig, RE/MAX
Classic, for organizing our RPAC speakers
for our classes, working with Jenifer
Rachel to arrange a successful RPAC Major
Investor luncheon, where over $8,000 was
raised for the Realtors® Active in Politics ®
fund. Thank you Mary - your dedication is
appreciated!
Don’t forget to check out the Book of the
Month Club led by Steve Stockton, various
workshops, and of course, our Special
Awards & Installation luncheon coming
January 24, 2020. Start thinking about
choosing the 2019 Rookie-of-the-Year,
Broker/Manager-of-the-Year, Humanitarian
and Distinguished Service and
Humanitarian of the Year.
Until next time, SALE ON! Ann
Volume 31 | Issue 5 October/November 2019
2019 OFFICERS
President Ann Peterson, GRI, ABR, SRES, e-PRO 495-8877
President-Elect Maddy Dishon 620-1000 Treasurer Steve Stockton, SFR 360-2900 Secretary David Niezgoda 625-0200
BOARD OF DIRECTORS
David Botsford 626-2100 Brenda Davis 556-7400 Jon Devine 625-5700 Matt Diskin 228-4647 David Elya, CRS, GRI, ABR, SFR, e-PRO 652-7000 Dana Fox 884-6600 Cheryl Gates-Beers 394-0400 James Gillen 845-2669 Tom Kotzian, GRI (NAR Director) 652-8000 Geoff Leach 360-9100 Ray O’ Neil, GAA, RAA (NAR Director) 674-3333 Jenifer Rachel, ABR (Past President) 394-0400 Mary Rettig 646-5000 Marcy Soufrine 360-2900
STAFF
Patricia Jacobs Executive Vice President Katie Balkwell Director, Special Projects Janet Sneckenberger Director, Finance Millie Traylor Administrator, Member Services Tonya Wilder Executive Assistant
COMMITTEE CHAIRMEN
Budget & Finance Maddy Dishon
Bylaws Tom Kotzian, GRI Education/Technology Dana Fox Executive Ann Peterson, GRI, ABR, SRES, e-PRO Government Affairs Ray O’Neil, GRI, GAA, RAA Membership Services Brenda Davis Nominating Jenifer Rachel, ABR Professional Standards Arbitration Kay Pearson, CRS
Eric Pernie Ethics Sally Bell Pam Bradshaw Mary Rettig Kathleen Sanchez
Grievance Paul Carthew
REALCOMP II LTD. GOVERNORS David Elya, CRS, GRI, ABR, SFR, e-PRO 652-7000 Geoff Leach 360-9100
REALCOMP USER GROUP Tanya Dempsey Mitchell
Matt Diskin Geoff Leach
Marcy Soufrine
REALCOMP SHAREHOLDERS’ TASK FORCE Ray O’Neil, GAA, RAA
Ann Peterson, GRI, ABR, SRES, e-PRO
NAR® DIRECTORS Tom Kotzian, GRI
Ray O’Neil, GAA, RAA
MR® DELEGATES Ann Peterson, GRI, ABR, SRES, e-PRO
Maddy Dishon
NORTH OAKLAND COUNTY BOARD OF REALTORS 4400 West Walton | Waterford | MI | 48329 Phone (248) 674-4080 | Fax (248) 674-8112
E-mail: [email protected] www.nocbor.com
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Board of Directors August, 2019
MOTION CARRIED to approve
One (1) Primary Designated Realtor®;
Seventy-four (74) Primary Realtors®
and One (1) Secondary Designated
Realtor®.
MOTION CARRIED to request
NOCBOR Realcomp Governors to
table “Coming Soon” proposal
indefinitely.
MOTION CARRIED to approve
the Decision of the Ethics Hearing
Panel and the disciplinary action as
recommended pursuant to Lasco &
Haffajee vs. LeBourdais.
MOTION CARRIED to approve
the Decision of the Ethics Hearing
Panel regarding Krausman vs.
Nummer.
MOTION CARRIED that
NOCBOR Annual Membership
meeting be scheduled on Tuesday,
October 8, 2019 at the MSU
Education Center in Troy.
In Memoriam
Robin Cooke (EXP Realty-
Plymouth) passed away August 7,
2019. NOCBOR members, Directors
and staff extend their deepest
sympathy to the Cooke family.
Hanna Gia Han Do, 4 year old
precious daughter of Shawn Hung Do
(Liberty Way Realty-Clarkston) passed
away on August 22, 2019. NOCBOR
members, Directors and staff extend
their deepest sympathy to the Do
family.
Gary West (Real Estate One-
Clarkston) quietly passed on
September 2, 2019. NOCBOR
members, Directors and staff extend
their deepest sympathy to the West
family.
NOCBOR extends sympathy to the
family and friends of Michael Ennis
(Esoteric Realty) who left our land on
September 14, 2019. Robert Hittinger (Keller Williams
Showcase Realty) suddenly passed on
August 31, 2019. NOCBOR members,
Directors and staff extend their deepest
sympathy to the Hittinger family.
Board of Directors September, 2019
MOTION CARRIED to approve
One (1) Primary Designated Realtor®;
Thirty Four (34) Primary Realtors®
and One (1) Secondary Realtor®.
MOTION DEFEATED to move
forward with the approval of the
proposed Realcomp Strategic Plan as
presented to the Realcomp
Shareholders on September 12, 2019.
MOTION CARRIED to approve
the Decision of the Ethics Hearing
Panel regarding Carl Vagnetti vs.
Tracey Brown and implement
disciplinary action.
President’s Circle
The RPAC President’s Circle is an
influential group of country-wide
Realtors® who contribute directly to
Realtor®-friendly candidates.
NOCBOR is proud to acknowledge
the generous $1,000 annual
contribution of the following
members: Matt Diskin (Property
Valuation Group); Andrea Esse
(RE/MAX Defined); Terrie Junkin
(RE/MAX Nexus); Rick Linnell
(Linnell & Associates) and Kristine
McCarty (Keller Williams First).
Political Action Committees can
legally contribute $10,000 per election
cycle to members of Congress. The
President’s Circle program supports
Realtor® Party Champions-members of
Congress who have made significant
achievements in advancing the Realtor®
public policy agenda.
Politically Inclined
If real estate if your profession,
politics is your business! NOCBOR
members who have recently
contributed more than their “Fair Share
of $50” thoroughly understand the
meaning of this adage.
NOCBOR recognizes the following
members who have demonstrated their
total commitment to their real estate
profession. Thank you:
Curt Carson (RE/MAX Showcase
Homes) $250; Dana Fox (Lake
Michigan Credit Union) $300;
Randy Miller (RE/MAX Encore) $500
and Donna Sanford (Berkshire
Hathaway) $500.
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Chris Mersino Realtor® Owner
MBA Real Estate Services Clarkston
Geoff Leach Realtor®
CENTURY 21 Row
West Bloomfield
NOCBOR. As a Major RPAC Investor, Ann understands the need to politically network to promote the “American Dream.” She has earned her broker’s license, as well as the GRI®, ABR® and SRS® Designations, and the e-Pro® Certification, and is owner of Ann Peterson Realty.
Ann served as Realcomp Governor, as well as on the Realcomp User Committee. As a past member of the Michigan Realtors® Public Policy Committee, Ann was involved with the proposed amendments to the Michigan Real Estate License Law regarding advertising. As 2018 Vice Chairman of NOCBOR Government Affairs Committee, Ann has worked with the members of the Michigan Legislature and has high priorities in keeping the consumer at the front of the transaction.
Ann Peterson, your 2019 President, has been selected as NOCBOR Realtor®-of-the-Year. With over 28 years of experience in the real estate profession, Ann has been an active NOCBOR member, who has served on the City Council for Rochester since 2014. In 2011, Ann volunteered her experience wisdom and passion to
Jenifer Rachel Realtor®
Keller Williams Premier Clarkston
Tina Zudell Realtor®
RE/MAX Encore Clarkston
You Elected Them
Congratulations NOCBOR Directors!
Ann Peterson Realtor® Of-The-Year
Jenifer Rachel Realtor® Active In Politics
Dana Fox Affiliate
Lake Michigan Credit Union White Lake
Selected as NOCBOR 2019 Realtor® Active In Politics Jenifer Rachel, has been licensed and a member of NOCBOR since August, 2006, and an associate broker with Keller Williams Premier in Clarkston. Jenifer served as your 2018 President and has been a member of the Board of Directors since 2012, including President-
Elect, Treasurer and Secretary. As a Major RPAC Investor and 2019 Vice Chairman of NOCBOR Government Affairs Committee, Jenifer has served as member of the Committee for over 10 years, and understands why it’s essential Realtors® take an active role in local, state and federal government. A member of the Michigan Realtors® Public Policy Committee and a Graduate of the Michigan Realtors® Leadership Academy, she also serves on the National Association of Realtors® State and Local Policy Issues Committee. Congratulations, Jenifer!
NOCBOR Events
Monday Tuesday Wednesday Thursday Friday Saturday 28
29 9:30 a.m. – 3:30 p.m. 2019 Con-ed Sally Bell
30 12:30 p.m. Executive 1:30 p.m. Board of Directors
31 9:30 a.m. Book of The Month Club
1
2 8 a.m. – 4:30 p.m. Pre-License Class
4
5 10 a.m. – 1 p.m. “Carbon Monoxide, Preventative Maintenance & Indoor Air Quality” (3 hours con-ed) Randy Patterson
6 10 a.m. Interboard Arbitration
7 8 10 – 11:30 a.m. Free Workshop “Remine Agent Pro” Realcomp Staff
9 8 a.m. – 4:30 p.m. Pre-License Class
11 12 9:30 a.m. Membership Services 11 a.m. – 12:30 p.m. Free Workshop “Grant Money For Your Business Investors, Clients or Non Profit” 6-10 p.m. Pre-License Class @ NOCBOR
13 11 a.m. Free Workshop “Visa’s/Trusts & Land Contracts” Janis Hurt
14 10 a.m. – 12 p.m. Free Workshop “Security Deposits; Updated & Remodeled; Wire Fraud; PRE & New Construction“ Phil Seaver 6-10 p.m. Pre-License Class @ Middleton
15 10 a.m. Free Workshop “Fast & Accurate CMA’s” Rick Bailey
16
18 9:30 am. Education/Tech 11:30 a.m. Government Affairs
19 10 – 11 a.m. “The Ins & Outs Of New Construction Financing” Dana Fox 6-10 p.m. Pre-License Class @ NOCBOR
20 1:30 p.m. Board of Directors
21 9:30 a.m. Grievance Committee Group A 11:30 a.m. Free Workshop “What Every Realtor® Must know About Credit & Credit Scores” (1 hour con-ed) Brenda Brosnan 6-10 p.m. Pre-License Class @ Middleton
22 23
25
26 6-10 p.m. Pre-License Class @ NOCBOR
27 6-10 p.m. Pre-License Class @ Middleton
28 OFFICE CLOSED
29 OFFICE CLOSED
30
2
3 6-10 p.m. Pre-License Class @ NOCBOR
4
5 9:30 a.m. Realcomp Annual Shareholders 6-10 p.m. Pre-License Class @ NOCBOR
6 7
9 9:30 am. Education/Tech
10 9:30 a.m. Membership Services 6-10 p.m. Pre-License Class @ Middleton
11 10 a.m. Ethics Hearing
12 10 a.m. “Commercial Real Estate 101” (2 hours Con-ed) Jon Devine 6-10 p.m. Pre-License Class @ Middleton
13 6-10 p.m. Pre-License Class @ Middleton
14 6-10 p.m. Pre-License Class @ Middleton
16 11:30 a.m. Government Affairs
17
18 1:30 p.m. Board of Directors
19 9:30 a.m. Grievance Committee Group B
20 9 a.m. – 5 p.m. e-PRO @ NOCBOR Lori Chmura
21
23 24 OFFICE CLOSED
25 OFFICE CLOSED
26 27 9 a.m. – 5 p.m. e-PRO Lori Chmura
28
30 31 OFFICE CLOSED
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Special Awards
It’s time to nominate your favorite and most deserving business
associates for the NOCBOR 2019 Special Awards. Below are the
award categories. Nominations must be submitted to NOCBOR no
later than December 6, 2019.
This is your opportunity to nominate your favorite Realtors®
and Affiliate members.
Broker/Manager-Of-The-Year: You know who this is! It’s
that person who you can always count on and consider part of your
support system. This candidate can be nominated by any
NOCBOR member. A narrative must accompany all nominations.
Distinguished Service: The nominee must be a Realtor®
member. To nominate a candidate for this award, please submit a
narrative describing a real estate transaction in which the nominee
displayed a true sense of professionalism and ethical behavior.
This is your chance to express your appreciation for a “job well
done!” A narrative must be submitted.
Rookie-Of-The-Year: Must be nominated by the Designated
Realtor® of the office with which the nominee is affiliated. The
award will be given to an individual who has been in the business
less than 18 months and will be based on productivity and
congeniality. A narrative must be submitted.
Humanitarian & Community Service: This award must go to
a Realtor®. It will be in recognition for outstanding contributions
and dedication toward the betterment of the community. A narrative
must be submitted.
Affiliate-Of-The-Year: This award must go to an Affiliate
member. Realtors® can nominate Affiliate-Of-The-Year nominees
on the basis of outstanding professionalism and Board activity. A
narrative must be submitted.
You can find the Special Awards Nomination form on
nocbor.com
Enjoy The SentriLock Difference
More than just a lockbox, the easy-to-use SentriLock solution
features instant showing notifications, robust reporting, and world-
class customer service. Plus, the new SentriKey app is sleeker,
smarter, and simpler.
Who: SentriLock is the official lockbox solution for NAR and
Realcomp. As the leading electronic lockbox manufacturer and
provider of property access management solutions, SentriLock
operates in support of Realtors® and the industry, offering an easy
to use, reliable and secure system. Fundamental core values guide
every action and decision to provide the best service and experience
for your benefit.
What: The SentriLock Bluetooth Realtor® Lockbox is the most
secure, durable, and versatile within the industry. SentriLock’s
reliable, multiple key access method, including via mobile app or
keycard, helps to efficiently gain property access.
Don’t Mess With RESPA A veteran Miami agent has a long and close relationship with a
local title company, having referred them many customers over the
years. The company recently gave her tickets to a Miami Heat
game, which she enjoyed. But she just learned that accepting this
gift may have been a RESPA violation. Is it? And if so, how can
her broker help to fix this situation?
Even the appearance of accepting kickbacks from title
companies, lenders and closing attorneys in exchange for referrals
is a serious no-no. RESPA (Real Estate Settlement Procedures Act)
was passed specifically to ban abusive practices that inflated the
costs of real estate transactions and discouraged competition. It is
the cornerstone of the real estate industry, and it must be respected
fully, at the risk of lawsuits from government, consumers and
aggressive attorneys who actively seek out these violations.
Unfortunately, many agents still accept gift cards and tickets from
these service partners like they are candy, thinking this is a
victimless and undetectable crime, but they are absolutely wrong
about that.
In the case of the Miami agent, the evidence of the exchange is
obvious, with a paper trail of the title company owner making the
offer, the agent accepting and the tickets being transferred via
email. It’s a “slam dunk” for investigators and possibly a federal
crime. Certainly, the agent could make the case that the tickets
were offered and accepted out of personal friendship (and not tied
to any referrals), and while that technically might be true, it could
still be considered a kickback, and a RESPA violation.
RESPA is no joke! Any item of value that could even be
considered a gesture to get more business is simply not allowed.
Everyone likes to say “thank you” for referrals. Agents do it all the
time with customers and friends. But that is an “apples and
oranges” situation, with respect to actually accepting gifts from
settlement service partners. Keeping it to the verbal “thank you” is
the only way to avoid the risk.
In this isolated case, it is unclear how the agent should go about
making amends for what might or might not be a violation, but it
would be wise to reimburse the title company owner for the fair
market value of the tickets and keep a record of the reimbursement.
Your Continuing Education Requirements
The State of Michigan requires real estate licensees to earn at least 18 hours of continuing education (CE) credits every 3 years in order to renew their real estate license. The topic number and course name must be different from the other courses a licensee has taken within the 3 year period. Each year a licensee must complete at least 2 hours of education that involves law, rules and court cases regarding real estate. This is part of your 18 total hours for the 3 years and any extra legal hours earned count towards the total requirement. If a licensee fails to complete 2 hours of legal credit in a year they may try to make it up in proceeding years but if they are audited this does not guarantee they will not be penalized.
To check your CE Credits log into the CE Marketplace ». Important 2019 Reminder About Credit Reporting! An important change has been made to the way that continuing education credits are recorded on CE Marketplace that you need to know about. You are no longer able to self-report learning certificates on CE Marketplace. Previously, you were able to attach certificates for classes that were not CE Marketplace certified in your account. Beginning November 1, 2018, all courses must be CE Marketplace certified. This means that all of your credits will be automatically reported for you. After your class attendance has been reported by an instructor or sponsor’s administrator, you will receive a class completion certificate by email. Watch for this email to arrive! It confirms that your attendance in the class has been successfully reported and recorded in your CE Marketplace account. Please note that your class attendance will be reported to CE Marketplace within ten days. If you do not receive the confirmation, it is your responsibility to contact the sponsor’s administrator or instructor. Further, you do not need to send proof of CE to the Department unless you are being audited and have been asked to submit the information. If you:
● Renewed your license in 2018 or ● Were issued a new license between 7/1/2018 - 10/31/2019 or ● Were relicensed between 7/1/2018 - 10/31/2019
Then you need: ● 6 hours (2 hours each year) of CE that involves law, rules & court cases regarding real estate.
● 12 hours of other CE ● For a total of 18 hours of CE prior to renewing your license in 2021.
If you: ● Were issued a new license between 11/1/2019 - 10/31/2020 or ● Were relicensed between 11/1/2019 - 10/31/2020
Then you need: ● 4 hours (2 hours each year) of CE that involves law, rules & court cases regarding real estate. ● 8 hours of other CE ● For a total of 12 hours of CE prior to renewing your license in 2021.
If you: ● Were issued a new license between 11/1/2020 - 7/3/2021 or ● Were relicensed between 11/1/2020 - 7/3/2021
Then you need: ● 2 hours of CE that involves law, rules & court cases regarding real estate. ● 4 hours of other CE ● For a total of 6 hours of CE prior to renewing your license in 2021.
Note: ● If you hold an associate and/or individual broker license and you have held an active salesperson license between 7/1/2018 - 10/31/2019 you are required to complete the entire 18 hours of CE. ● If you were relicensed and used any courses to fulfill the previous year’s CE requirements, those courses cannot be used again for the 2021 renewal.
For answers to any questions about CE hours or tracking credits and class completion, visit www.cemarketplace.net or contact us at [email protected] or 844.642.6633. Visit our Calendar to view and register for in-person classes or checkout our Online Courses.
Page 6
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HUD Unveils New Condo Guidance That Could Boost Sales!
The Department of Housing and Urban Development (HUD)
has issued its final rule on condominium financing insured by the
Federal Housing Administration (FHA), a move designed to help
more would-be buyers become eligible for a mortgage.
Specifically, the new rules will: • Extend FHA certifications on condo developments from two
years to three years, reducing the compliance burden on condo
boards.
• Allow for single-unit mortgage approvals—often known as
spot approvals—that will enable FHA insurance of individual
condo units, even if the property does not have FHA approval.
• Secure additional flexibility in the ratio of investors to
owner-occupants allowed for FHA financing in a condo
building.
Prior to these changes, FHA approvals for condos have been
heavily restricted. For example, the National Association of
REALTORS® (NAR) pointed to data earlier this year showing
that in Florida’s Miami-Dade County, there were 5,683 condo
projects—but only seven had FHA approval.
Page 8
“It goes without saying that condominiums are often the most
affordable option for first-time home buyers, small families, and
those in urban areas,” NAR President John Smaby said in a
statement. “This ruling, which culminates years of collaboration
between HUD and NAR, will help reverse recent declines in
condo sales and ensure the FHA is fulfilling its primary mission
to the American people.”
NAR has advocated for more than a decade for many of the
changes. The association's most recent existing-home sales
report, released in July, showed that sales of condos and co-ops
dropped 6.5% year over year. Further, with more than 8.7 million
condo units nationwide, only 17,792 FHA condo loans were
originated in the past year. Down payments for single-family
homes also have grown significantly more expensive in recent
years in the absence of widely accessible FHA condo financing.
In 2009, FHA had restricted its condo approval process,
which limited the number of properties that could receive FHA
loans. In 2016, it moved to lift several of those restrictions, but
the proposed rules were never finalized.
HUD’s final rule took effect on October 15, 2019. Copy of
the Project approval for single – family condominiums is
available upon request, 248-674-4080.
Free Workshops
Friday, November 8 (10 – 11:30 a.m.) “Remine Agent Pro” Realcomp Staff
Tuesday, November 12 (11 a.m. – 12:30 p.m.) “Grant Money For Your Business Investors, Clients or Non Profit” Jeanine Sample, Grant Money Express
Wednesday, November 13 (11 a.m.- 1 p.m.) “Visas/Trusts & Land Contracts” Janice Hurt, Lake Michigan Credit Union (Lunch provided)
Thursday, November 14 (10 a.m. – 12 p.m.) “Security Deposits; Updated & Remodeled; Wire Fraud; PRE & New Construction“ Phil Seaver, Seaver Title Friday, November 15 (10 a.m. – 12 p.m.) “Fast & Accurate CMAs” (Please bring your computer) Rick Bailey, Bailey Realty & Investment Tuesday, November 19 (10- 11 a.m.) “The In’s & Out’s of New Construction Financing” Dana Fox, Lake Michigan Credit Union
Thursday, November 21 (10 – 11 a.m.) “What Every Realtor® Must Know About Credit & Credit Scores” (1 hour con-ed) Brenda Brosnan, Summit Funding Thursday, December 12 (10 a.m. – 12 p.m.) “Commercial Real Estate 101” (includes 2 hours con-ed) Jon Devine, Keller Williams Advantage Location: NOCBOR To register: nocbor.com
Con-ed With Lunch
Tuesday, November 5 (10 a.m. - 1 p.m.)
"Carbon Monoxide, Preventative Maintenance & Indoor Air Quality" (includes 3 hours con-ed)
Instructor: Randy Patterson, Pillar to Post
Course fee: $5.00
Location: NOCBOR Register: nocbor.com
e-PRO Certification Course Friday, December 20 & 27, 2019
Stay ahead of the digital curve with NAR’s e-PRO® certification course. This two-day program helps you:
• Master advanced digital marketing techniques. • Increase your ability to reach and convert customers. • Create an online marketing strategy that drives business. • Protect your business and safeguard client information.
Additionally, our new e-PRO® curriculum will cover the importance of data privacy, the laws in place, and how to implement best practices as outlined by the Federal Trade Commission to protect client information from a data breach. Protecting client information is not only good business — in many cases, it’s the law. Completion of e-PRO® will not only help you adhere to the law by keeping your client data safe, but it will also protect the reputation of your company.
After you’ve completed the coursework, simply submit your certification application online with a onetime application fee ($149). For information on earning NAR’s e-PRO® certification, visit epronar.com.
Time: 9:00 a.m. - 5:00 p.m.
Cost: *$315.00 Bring a Buddy: *$267.75
Instructor: Lori Chmura
Location: NOCBOR Register: nocbor.com
Accredited Buyer Representative Friday, January 17, & January 24, 2019
“Marketing Practice” & “Office Policy, Negotiations and Relocations.” Both classes are approved by REBAC (Real Estate Buyer’s Agent Council) and fulfills the educational requirements for the ABR Designation. ABR counts as 15 hours of real estate continuing education credit or can be used toward 90 hour broker pre-licensing requirement. Must take an elective for designation*. *Qualifies for the NOCBOR interest free Education loan.
Time: 9:00 a.m. – 5:00 p.m.
Cost: *$310 (includes elective, materials & first year dues) Bring a Buddy: *$263.50
Instructor: Lori Chmura
Location: NOCBOR Register: nocbor.com
Page 9
Pre License Training 40 hours
Tuesday & Thursday Evenings
6-10 p.m.
November 12*, 14**, 19*, 21**, 26*, 27** December 3*, 5*, 10**, 12**, 13** & 14*
*NOCBOR 4400 W. Walton Blvd
Waterford, 48329
**Middleton Real Estate Training 901 Tower Dr. Ste 120
Troy, 48098
Register no later than November 10, 2019 with Visa/Mastercard
248-885-8311 $305 includes materials
Local Market Update – September 2019A Research Tool Provided by Realcomp
NOCBOR® ReportCovers the following northern areas of Oakland County: Auburn Hills, Bloomfield Twp, Brandon Twp, City of the Village of Clarkston, Springfield Twp, Fenton, Groveland Twp, Holly Twp, Holly Vlg,Independence Twp, Keego Harbor, Lake Angelius, Lake Orion Vlg, Orchard Lake, Orion Twp, Ortonville Vlg, Oxford Twp, Oxford Vlg, Pontiac, Rose Twp, Sylvan Lake and Waterford Twp.
Residential September Year to DateKey Metrics 2018 2019 % Change Thru 9-2018 Thru 9-2019 % Change
New Listings 607 610 + 0.5% 5,960 5,776 - 3.1%
Pending Sales 359 354 - 1.4% 3,546 3,537 - 0.3%
Closed Sales 375 398 + 6.1% 3,348 3,331 - 0.5%
Days on Market Until Sale 28 32 + 14.3% 34 38 + 11.8%
Median Sales Price* $225,000 $232,000 + 3.1% $235,000 $242,388 + 3.1%
Average Sales Price* $295,664 $279,766 - 5.4% $292,359 $298,234 + 2.0%
Percent of List Price Received* 97.8% 98.0% + 0.2% 98.0% 97.8% - 0.2%
Inventory of Homes for Sale 1,646 1,315 - 20.1% –– –– ––
Months Supply of Inventory 4.4 3.6 - 18.2% –– –– ––
Condo September Year to DateKey Metrics 2018 2019 % Change Thru 9-2018 Thru 9-2019 % Change
New Listings 93 98 + 5.4% 915 934 + 2.1%
Pending Sales 61 71 + 16.4% 657 590 - 10.2%
Closed Sales 61 65 + 6.6% 611 551 - 9.8%
Days on Market Until Sale 20 41 + 105.0% 33 33 0.0%
Median Sales Price* $132,000 $175,000 + 32.6% $165,000 $176,000 + 6.7%
Average Sales Price* $165,922 $219,896 + 32.5% $197,300 $223,394 + 13.2%
Percent of List Price Received* 97.6% 97.7% + 0.1% 97.8% 97.9% + 0.1%
Inventory of Homes for Sale 165 174 + 5.5% –– –– ––
Months Supply of Inventory 2.5 2.8 + 12.0% –– –– ––
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.
A rolling 12-month calculation represents the current month and the 11 months prior in a single data point. If no activity occurred during a month, the line extends to the next available data point.
Median Sales Price - ResidentialRolling 12-Month Calculation All MLS
NOCBOR® Report
1-2003 1-2005 1-2007 1-2009 1-2011 1-2013 1-2015 1-2017 1-2019
$50,000
$100,000
$150,000
$200,000
$250,000
Median Sales Price - CondoRolling 12-Month Calculation All MLS
NOCBOR® Report
1-2003 1-2005 1-2007 1-2009 1-2011 1-2013 1-2015 1-2017 1-2019
$50,000
$75,000
$100,000
$125,000
$150,000
$175,000
$200,000
Current as of October 1, 2019. All data from Realcomp II Ltd. Report © 2019 ShowingTime.
Support Your NOCBOR Affiliates
Akers, Joe (HiTech Real Estate) 248-238-4449 Barnett, Larry (Attorney at Law) 248-625-2200 Bartus, Barb (Michigan First Mortgage) 248-666-2700 Brosnan, Brenda (Summit Funding) 248-515-3855 Bruce, Cheryl (Seaver Title) 248-338-7135 Buick, James (Team One Credit Union) 248-508-0135 Chamberlain, Craig (Rouff Home Mortgage) 248-241-6211 Davis, Ernest (Home King Inspection Service) 248-288-4770 Dawson Michael (Union Home Mortgage) 248-467-0257 Fox, Dana (Lake Michigan Credit Union-White Lake) 248-884-6600 Franskoviak, Michael (Franskoviak & Company, PC) 248-524-5240 Galvez, Joseph (John Adams Mortgage) 248-390-1124 Gelbman, Mark (Caliber Home Loans) 248-266-7809 Green, Brent (Lake Michigan Credit Union) 248-484-7117 Hudson, Matt (First American Title Co.) 248-789-6371 Jarvis, Beth (Title Connect) 586-226-3506 Joandrea, Dan (Total Home Inspection) 248-550-9492 Kandah, Alexander (Bank Of England Mortgage) 248-633-8555 Katsiroubas, Mary (First National Home Mortgage) 855-910-2700 Kirkpatrick, Mark (Floor Trends) 248-220-3015 Kirkpatrick, Mark (XCEL Carpet Cleaning) 248-462-2393 Kraft, Stacey Grava (Home Warranty of America) 248-330-1076 LaPorte, Jeff (The Home Team Inspection) 248-366-6215 Linnell, Richard (Linnell & Associates) 248-977-4185 Lipson, Craig (Jet Directing Funding Corp.) 269-598-7171 Morrow, Michael (LENDERFUL) 248-909-9412 Mustola, Mark (Value Check Home Inspections) 810-750-0000 Oates, Lynn (Envoy Mortgage) 248-218-0663 Patterson, Randall (Pillar To Post) 248-755-3422 Porritt, James Jr. (Attorney At Law) 248-693-6245 Proctor, Michael (Michael Proctor) 248-931-1018 Powsner, Carl (Lighthouse Title Co. 810-606-0050 Rose, David (Rose Certification Inspections) 248-625-9555 Sasek, Luke (Cutco) 616-295-5537 Seaver, Phil (Seaver Title) 248-338-7135 Siebert, Brian (First National Home Mortgage) 855-910-2700 Silpoch, Brian (Transnation Title Agency, Metro Davison) 248-605-0600 Spencer, Grant (Michigan First Mortgage) 248-721-6676 St. Amant, Ron (Changing Places Moving) 248-674-3937 Taylor, Cindy (University Lending Group) 248-891-8226 White, Don (Genisys Credit Union) 586-764-1826 Zetye, Lauren (Movement Mortgage) 248-840-0972 Zuniga, Heidi (Metro North Federal Credit Union) 248-674-0491
Legal Q & A
Q: I am the listing Realtor®. An offer was made by a buyer that
was well below the listing price. I telephoned the buyer’s agent to
tell him that my seller has rejected the offer. The agent said that it is
necessary for the seller to reject the offer in writing. Is this true?
A: No. A seller has no legal obligation to reject an offer in
writing or to even respond to an offer at all.
Q: I represent a buyer who had a signed purchase agreement.
Just prior to the closing date, the buyer suffered buyer’s remorse
and chose not to purchase the property. The sellers are upset and
want the earnest money deposit, but the buyer is disputing the fact
that the sellers are entitled to the EMD. The sellers have also put
their house back on the market. I was told that the sellers could not
relist their house when there is a dispute over the EMD. Am I
correct?
A: No. The fact that the buyer and sellers are in a dispute over
the EMD does not prevent the sellers from relisting. However, if
the buyer has not clearly indicated that he will not go forward with
the purchase, the sellers should consult with an attorney before
binding themselves to a second purchase agreement.
Q: I am representing a buyer who has made an offer on a home.
The seller countered our offer with a clause stating that the buyer
waives his right to inspect the property. Is this permissible?
A: Yes. The seller is free to propose such a clause in a purchase
contract and it is up to the buyer to either agree or reject such a
provision.
Q: We received an offer on a listing, and it was accepted by
the seller. We delivered it back to the buyer’s agent two days ago.
Now we have been advised that the buyer refuses to bottom-line
the purchase agreement. Can the buyer walk away from the deal
and get his earnest money deposit back?
A: The buyer certainly cannot walk away from the deal and
get his earnest money deposit back by simply refusing to bottom-
line receipt of the purchase agreement. Unless the specific
purchase agreement requires a bottom-line signature in order to
form a contract, the contract between the buyer and the seller is
formed when the seller signs the offer and delivers his acceptance
to the buyer or the buyer’s agent. Traditionally, the practice of
bottom-lining has been done to assure that Realtors® can prove
that they complied with Rule 307 which requires a licensee to
provide a fully executed copy of the purchase agreement to the
seller and buyer.
Q: I have a client whose condominium association has
foreclosed a lien for non-payment of dues. How long is the
redemption period?
A: The redemption period for a foreclosure by the association
of co-owners is six months from the date of sale unless the
property is abandoned which will reduce the redemption period to
one month.
Q: I currently have a property listed by the heirs of a man who
died in his house as a result of a spider bite from a brown recluse
spider. Does my seller have to disclose this information?
A: Unless a prospective buyer asks if someone died in the
home, you do not have to disclose this information. However, if
there is a history of infestation in the home, the seller must disclose
that in the Seller Disclosure Statement.
Q: I am listing a 10-acre residential property that is traversed
by a utility easement. The easement will service a housing
development in the near future. Is my seller required to disclose
this easement?
A: Yes. The Seller Disclosure Act requires that a seller of
residential property disclose any easements affecting that property.
Page 11
nocbor.com to register! Page 12
e-PRO® certification course.
This two-day program helps you:
• Master advanced digital marketing techniques
• Increase your ability to reach and convert customers
• Create an online marketing strategy that drives business
• Protect your business and safeguard client information
Register today!
After you’ve completed the coursework, simply submit your
certification application online with a one time application fee.
($149). For information on earning NAR’s e-PRO® certification,
visit epronar.com.
Class Location: NOCBOR 4400 W. Walton Blvd. Waterford, MI 48329 Course Dates: Friday, December 20, 2019 (9 a.m.-5 p.m.) Friday, December 27, 2019 (9 a.m.- 5 p.m.) Cost: $315.00 Bring A Buddy: $267.50/Person
Instructor: Lori Chmura, Middleton Real Estate Training
Page 13
Golf Outing Provides Donations
On August 30, 2019, the (NOCBOR) presented the North
Oakland VFW Post 334 a donation check for $4,500 for two VFW
charities: VFW National Home for Children and VFW Camp
Trotter. These donations were made possible from a Charity Golf
Outing held on Wednesday, August 7, 2019 at the Fountains Golf
& Banquet in Clarkston.
The VFW National Home for Children was founded in 1925 in
Eaton Rapids, MI as a place where families left behind by war
could remain together, keeping the family circle intact even when
their servicemen didn’t come home.
Today’s military and veteran families face different challenges-
reintegration, post-traumatic stress, high unemployment and
rehabilitation from battlefield injuries, among others and the
National Home has evolved over our decades-long history to meet
those changing needs.
In addition, it is understood that the impacts of war can be
generational. The National Home helps veteran connected families,
as well as those who are directly related to a VFW or Auxiliary
member or are eligible, to become one.
The VFW Camp Trotter is a Children’s Camp located 7 miles East
of Newaygo on M-82. The camp sits on the shores of one of West
Michigan’s beautiful and picturesque lakes. It is owned and
operated by the Department of Michigan, Veteran of Foreign
Affairs of the United States. The camp is fully licensed and insured
with the State of Michigan.
Camp Trotter exists primarily for children of veterans but is not
limited thereto; it offers five weeks of camping to children aged
seven to twelve years old from all over the United States. The camp
includes summer activities on site including swimming, boating,
hiking, arts and crafts, archery, softball, volleyball, as well as
campfire activities. The children are given a general knowledge of
science, art, and nature, and taught patriotism, courage, self-
reliance and kindred virtues.
Agencies Increase Residential Appraisal Threshold
On September 27, 2019, the Office of the Comptroller of the
Currency, the Board of Governors of the Federal Reserve System,
and the Federal Deposit Insurance Corporation (collectively “the
Agencies”) adopted a final rule increasing the threshold for
requiring an appraisal in residential real estate transactions from
$250,000 to $400,000. Federally related transactions under
$400,000 will require an evaluation, rather than a full appraisal, to
determine value of the real estate in question.
A federally related transaction is a non-Fannie Mae or Freddie
Mac transaction and a non-federal financed transaction, such as
loans under the Federal Housing Administration, the Rural Housing
Service or the Department of Veterans Affairs.
“Do Not Show/Publish” Realcomp Policy
All listings in the MLS must be available to show. If a new
listing has a delay in showings, the listing is handled as a “Do Not
Publish” listing. The profile form and the “Listing will not appear
in the MLS” form, signed by the seller stating when showings will
begin, must be submitted to the MLS.
If showings are not allowed for a period of time during the
period of the listing, the listing must be Conditionally Withdrawn
until showings begin again. A Conditionally Withdrawn listing is
still under contract with specific conditions but not currently being
marketed and will expire on the expiration date of the contract.
With today’s market becoming more and more competitive,
“Do Not Publish” (aka “Coming Soon”) listings have become a
regular topic of discussion at the MLS. To help better understand
these listings as they relate to your Rules and Policies and
Realtor® Code of Ethics. FAQs and NAR resources for you:
Q: What is a “Coming Soon” Listing?
A: In our market, it seems “coming soon” listings are either
properties that have been listed and are not yet available for
showing and/or purchase for a specific period of time or they are
properties that have not yet been listed.
Q: Doesn’t Realcomp require that all Michigan properties
listed by a Realcomp REALTOR® be submitted to the MLS
within 48 hours of all necessary signatures being obtained?
A: Yes. If the listing is not submitted to Realcomp within the
48-hour timeframe, any one of the following fines may be assessed
to the Listing Agent:
• Late listing starts at $37.50 & goes up to $500 plus an
appearance before the MLS User Committee
• Failure to submit a Listing Profile form $75
• Failure to submit a Do not Publish $25
Q: What if a Realcomp Subscriber takes a “Coming Soon”
listing? Are they required to submit it to Realcomp and make
it available for showings/offers?
A: Technically, “yes”, however, if the property can’t be shown
(i.e. homeowner signs the “Listing Will Not Appear in the MLS”
form), it can’t appear in the MLS. It must be conditionally
withdrawn from the MLS. If the listing is never submitted to the
MLS in the first place, Realcomp still requires a copy of the listing
and the seller signed instructions, which keep the listing agent
from being fined.
Q: What if a Realcomp user decides to market a property
(outside the MLS) without a listing contract?
A: Without a listing contract, there is “no listing” – they have no
Exclusive Right to Sell the property. Additionally, the property is
fair game for solicitations from the Realtor® community.
Proposed MLS Policy To Fuel Cooperation
Page 14
Visit the NOCBOR Realtor® Store Today!
We have all of your Realtor®
needs!
From riders and
lock boxes
to Guest Books,
signs and more!
We have it all at NOCBOR!
The National Association of Realtors® (NAR) is
considering a change in the association's MLS policy aimed
at creating greater cooperation between brokerages within
MLSs. The “Clear Cooperation Policy” proposal is
straightforward: Brokers who are MLS participants must share
listings with other brokers in the MLS if those listings are being
publicly marketed. NAR is seeking member feedback on the
policy before the association's Multiple Listing Issues and
Policies Committee addresses it at the Realtors® Conference &
Expo in San Francisco this November 6-10, 2019.
In the absence of explicit guidelines surrounding some
limited-exposure practices and “coming soon” listings, the NAR
had received requests from MLSs and broker members across
the country seeking clarity. The association’s MLS Technology
and Emerging Issues Advisory Board, a group made up
of brokers and MLS executives, developed the proposal in
consultation with brokerage and MLS leaders across the country.
The thesis of the advisory board's proposal is that when the
benefits of broad listing exposure are in the best interest of
clients, so is cooperation among MLS participants to share the
listings. Creativity and competition fuel real estate innovation,
and while the proposed rule doesn’t seek to restrict that, there is
a need to codify the responsibilities that real estate licensees
have undertaken through their commitments to license duties, a
Code of Ethics, cooperation, and most importantly, the
consumers they’ve contracted with to provide professional
services.
Proposal Addresses Privacy Concerns: Though the policy
change would require brokers to share publicly marketed listings
with the MLS, these listings are not required to be advertised in
the MLS’s IDX feed or any public syndication sites. They
simply must be available in the MLS so that other participant
brokers have access to them and can bring potential buyers to the
listing broker for cooperation.
Even clients whose circumstances override the benefits of
increased exposure, such as celebrity status or difficult life
situations, can be accommodated within the proposed policy’s
guidelines. If the client has privacy concerns, office-exclusive
listings are an option within the proposal. These listings are
shared between brokers and agents within a single brokerage and
their clients. But if the listing is marketed to the public in any
way, the need for an exclusion based on privacy is removed,
according to the proposal. The listing then must be shared with
other broker participants in the MLS within 24 hours.
You Can Still Tease a Listing: “Coming soon” has become
a popular marketing tactic for sellers whose properties aren’t
truly ready to be shown. It can help build anticipation for a new
listing before showings are available. These listings can also be
accommodated in the Clear Cooperation Policy.
If a “coming soon” listing is advertised publicly, it also must
be shared with the MLS’s participants for cooperation. MLSs
can employ rules allowing a broker to list a property within the
MLS and have a time period where showings are restricted until
the property is ready to become “active.” Whether this is an
official “coming soon” status in the MLS or a set of policies
defining options for this restricted showing period, the “coming
soon” tactic can be employed while simultaneously reinforcing
the responsibilities of participants to one another and consumers.
‘Private Listing Networks’: The proposal says listings
shared outside the listing brokerage are, by definition, not office
exclusives. While these listings may be omitted from internet
advertising such as IDX, VOW, and public syndication sites, the
sharing of the listing outside the brokerage exposes the listing to
a broader audience than is intended in an office-exclusive policy.
If the broker is an MLS participant, these listings must be shared
with the MLS for cooperation within the MLS.
Reinforcing the responsibilities of MLS participants
strengthens the value that real estate professionals can deliver to
consumers daily. In the current legal and regulatory
environment, codifying a greater commitment to the consumer
benefit of cooperation is both strategic and necessary. NAR will
continue to release information about the policy and engage in
conversation with industry participants as to the policy’s effects
and potential implementation questions.
Page 15
NAR Applauds House Vote
National Association of Realtors® President John Smaby
issued the following statement after the House of Representatives
today passed the Secure and Fair Enforcement Banking Act. The
bill was approved by a vote of 321-103.
“NAR thanks the House of Representatives for its
overwhelming, bipartisan support of the SAFE Act,” said Smaby, a
second-generation Realtor® from Edina, Minnesota. “As nearly
two thirds of all U.S. states have legalized cannabis for medical or
recreational use, it is apparent that the legal state-cannabis
industry’s connection to other markets – including real estate – will
continue to grow in the coming years.
“With current laws keeping the industry’s money out of
America’s banking system, our nation is jeopardizing economic
growth while forfeiting critical opportunities for oversight and
transparency. Realtors® sent a letter to House members urging
passage of H.R. 1595, and we are pleased to see this commonsense
legislation advance to the Senate for consideration.”
Do You Have Insurance?
Joining the Realtors® Political Action Committee (RPAC) is
the best way a Realtor® can protect their real estate profession.
RPAC is the only grassroots and issues mobilizing force that exists
to protect and promote the tradition of home ownership, private
property rights and real estate investments in Michigan.
NOCBOR members, who financially contribute to RPAC
support legislators, believe in protecting private property rights,
preserving the American dream of home ownership, fighting for
tax reforms and reducing burdensome regulation on your business.
By becoming a member of this distinguished group, you’ll not only
have the power to make a change in the way you do business, but
you’ll also become part of a statewide network, sharing in the
success on issues and concerns important to your profession.
RPAC is the real estate industry’s insurance to promote and
protect your profession. The benefits are tremendous and last
forever! Your “fair share” contribution of $50 is more important
than you realize. Whether it’s fighting the proposed state sales tax
on your commissions, fighting burdensome regulations or
promoting Realtor® friendly legislation, your involvement in
RPAC will link you with like-minded Realtors®. Have you paid
your professional insurance this year?
You still have time. Contact 248-674-4080 to join the RPAC
movement!
North Oakland County Board of REALTORS® 4400 W. Walton Blvd. | Waterford, MI 48329 | www.nocbor.com
NOCBOR ANNUAL LUNCHEON
Friday, January 24, 2020
12 p.m.
Pine Knob Mansion 5580 Waldon Rd.
Clarkston, MI 48348
RSVP by January 16, 2020