Please remind your agents that the deadline for paying CABR semi annual dues is Wednesday, July 1st at 5pm. Payments received after the deadline will be charged a late fee. See the information below from the Cincinnati Area Board of Realtors:
The deadline for paying the $149 dues amount is July 1, 2009, 5:00 p.m.
Payment can be made by check or credit card. No cash payments of dues will be accepted.
To make a payment by credit card, go to the CABR website, www.cabr.org, and click on the green Member Logon box. Enter your Logon ID and Password to access your account. Your electronic payment must be submitted by 5:00 p.m., July 1, 2009 in order to avoid a late fee. To make a payment by check stop in at the Board office at 14 Knollcrest Drive, Cincinnati, OH 45237 between the hours of 8:30 a.m. and 5:00 p.m. Your check must be received at CABR by 5:00 p.m., July 1, 2009 in order to avoid a late fee.
Thank you.
Susan Trefilek
Tuesday, June 30, 2009
Friday, June 19, 2009
6/16 meeting notes
Judy Sietz was here to talk about Artisan Estate Homes. They will pay your commission as soon as the final purchase contract is signed and the construction has not even started. They will build on your lot or they have several lots available. They are a multiple “People Choice Award” winner at Homearama. They can design your home also. If you want more info on Artisan Estate Homes call 737-8384?
Linda went over the 2009 OAR Industry Updates. Some of the many updates are:
House bill 257 (licensing home inspectors) passed in house but died in senate. New legislation is in this session similar to HB257 but is not likely to pass either. Home inspector organizations are discussing ASHI & NAHI merging.
Renewal fees have not increased since 1994 but that may change starting July 1. Agent renewals would go from $39. to $45./Brokers from $49. to $60. Application fees would go from $49. to $60./Brokers from $69. to $100. Transfer fees would go from $20. to $25.00.
Septic Systems regulations and rules that passed in 2007 and were rescinded in mid 2007 are being reviewed again and changes could be coming. It has until June 30 to act or revert back to old rules. 2 bills are pending. The SB100 bill would allow local controls and the SB110 bill mandates state control & limits rule making authority. Neither bill may pass.
HB33 would mandate meth lab disclosure, establish central registry & would require document recordation to add & remove from registry and to create a permanent record on the home. Without standards the property is stigmatized. That could make the property uninsurable. Congress has directed the EPA to address this problem.
HB3- Mortgage foreclosure legislation passed the house and would no longer allow owners to remain as tenants, would allow courts to rewrite mortgage. It also calls for a 6 mos. moratorium and raise the fee to $750. to file for foreclosure and regulation of loan servicers. The senate passage is in doubt.
Recording fee increase. The counties also want a $10. increase in recording fee. Last increase was 1993. Half of current fee goes to housing trust fund. Legislation not yet introduced.
Fair Housing updates in Ohio. Need for Ohio to achieve Substantial compliance with Federal Law- Key issues are standing of fair housing organizations to bring complaints and landlord liability for tenant on tenant harassment.
Title inducement rule. Rule developed by ODI, defines illegal inducements and permits title agency participation in association events.
NAR 4 point housing stimulus plan. Point #1 -$8,000 tax credit still limited to 1st time buyers but not repayable effective through 12/1/09. Point #2-Make 2008 FHA, FannieMae & FreddieMac loan limits permanent resulted in extended thru 2009, 125% of area median price or $271,00 FHA - $417,000 GSEs whichever is greater. Point #3 Create Federal Mortgage interest buy down program to rates down to 4.5% and result in program not implemented since rates dropped below 5%. Point #4 permanently bar banks from engaging in real estate business and the result is that it was not done and issue is resolved.
Small business health plans crisis continues. 27 million small business people lack coverage, 30% of realtors lack coverage. Federal action is needed and overdue. Shop legislation-HR2360 could band together across state lines, allow tax credits for employee insurance contributions which NAR strongly supports and congressional focus on comprehensive health care reform.
Commercial real estate crisis is the worst liquidity challenge since the great depression, hundreds of billions in commercial loans to mature in 2009. Over 1 trillion in next few years and federal action is needed.
Ohio residential market is still in declining market and mirrors nation. Market is performing at 1997 levels. About half of all recent transactions have been distressed sales. 15% to 20% short sales and 30% to 35% in foreclosures. The forecast and positive factors are record high affordability index, near record low interest rates, first time buyer tax credit, economic recovery in 2nd half but slow,
NAR sent out 133,000 questionnaires to consumers. Results of questionnaires show that 41% were first time buyers, median age of first time buyers was 30 years old and repeat buyers were 47 years old. The median household income was $74,900 for all, $60,600 for first time buyers and $88,200 in repeat buyers. 20% were single females and 10% were single males, 87% of all buyers used the internet while 94% where aged 25-44. Typical buyers searched for 10 weeks. 81% used an agent, 43% found agent via referral, 78% would definitely used same agent again.
84% of sellers used an agent, 85% would use again, 38% found agent via referral. 60% reduced price once or more and typically sold for 96% of the latest list price. 42% offered incentives like closing costs or home warranty.
License law update-you cannot discuss seller concessions with appraiser unless you receive permission from client.
Prohibited practices by title business. They cannot provide printing or paying for advertising or promotional material for broker/agent, furnishing or paying for equipment, phones, gas cards etc., paying for food or drinks at events designed to promote listings like open houses, paying for or providing continuing education, paying for sporting or entertainment events, information related to comps, demographics or farming lists, mortgage or lien info prior to receipt of title exam order.
One place went away at midnight last night so please make sure you get your One Place sign down and your new signs up ASAP.
At Coldwell Banker we never stop moving. What has marketing done lately? In February the “I know it’s a good time to buy” TV radio spots started. April/May the tour from the curb radio, flyers & eCards started and the CBWS Previews on the internet started, June the CBWS eMarketing advantage started. The goal is to go continue to help create powerful sales associates, expanding the visibility of the Coldwell Banker brand and assist in making the company profitable.
CB Mortgage pre-purchase rate protection is really recommended now that the rates are starting to go up. They have a new mortgage hotline that is open 7 days a week. The number is 513-298-1878
ProRealtour is working at modifying it to allow the consumer to enter through texting and giving the agent the ability to now capture the buyer’s information.
Happy birthday to our June birthdays-Evelyn, Barb and Claire and also to our July birthdays-Gary, Karan, Mary Pletz and Mike.
Congratulation to Meredith, Doc, Dawn & David for their excellent “Service Satisfaction Survey”.
Linda went over the 2009 OAR Industry Updates. Some of the many updates are:
House bill 257 (licensing home inspectors) passed in house but died in senate. New legislation is in this session similar to HB257 but is not likely to pass either. Home inspector organizations are discussing ASHI & NAHI merging.
Renewal fees have not increased since 1994 but that may change starting July 1. Agent renewals would go from $39. to $45./Brokers from $49. to $60. Application fees would go from $49. to $60./Brokers from $69. to $100. Transfer fees would go from $20. to $25.00.
Septic Systems regulations and rules that passed in 2007 and were rescinded in mid 2007 are being reviewed again and changes could be coming. It has until June 30 to act or revert back to old rules. 2 bills are pending. The SB100 bill would allow local controls and the SB110 bill mandates state control & limits rule making authority. Neither bill may pass.
HB33 would mandate meth lab disclosure, establish central registry & would require document recordation to add & remove from registry and to create a permanent record on the home. Without standards the property is stigmatized. That could make the property uninsurable. Congress has directed the EPA to address this problem.
HB3- Mortgage foreclosure legislation passed the house and would no longer allow owners to remain as tenants, would allow courts to rewrite mortgage. It also calls for a 6 mos. moratorium and raise the fee to $750. to file for foreclosure and regulation of loan servicers. The senate passage is in doubt.
Recording fee increase. The counties also want a $10. increase in recording fee. Last increase was 1993. Half of current fee goes to housing trust fund. Legislation not yet introduced.
Fair Housing updates in Ohio. Need for Ohio to achieve Substantial compliance with Federal Law- Key issues are standing of fair housing organizations to bring complaints and landlord liability for tenant on tenant harassment.
Title inducement rule. Rule developed by ODI, defines illegal inducements and permits title agency participation in association events.
NAR 4 point housing stimulus plan. Point #1 -$8,000 tax credit still limited to 1st time buyers but not repayable effective through 12/1/09. Point #2-Make 2008 FHA, FannieMae & FreddieMac loan limits permanent resulted in extended thru 2009, 125% of area median price or $271,00 FHA - $417,000 GSEs whichever is greater. Point #3 Create Federal Mortgage interest buy down program to rates down to 4.5% and result in program not implemented since rates dropped below 5%. Point #4 permanently bar banks from engaging in real estate business and the result is that it was not done and issue is resolved.
Small business health plans crisis continues. 27 million small business people lack coverage, 30% of realtors lack coverage. Federal action is needed and overdue. Shop legislation-HR2360 could band together across state lines, allow tax credits for employee insurance contributions which NAR strongly supports and congressional focus on comprehensive health care reform.
Commercial real estate crisis is the worst liquidity challenge since the great depression, hundreds of billions in commercial loans to mature in 2009. Over 1 trillion in next few years and federal action is needed.
Ohio residential market is still in declining market and mirrors nation. Market is performing at 1997 levels. About half of all recent transactions have been distressed sales. 15% to 20% short sales and 30% to 35% in foreclosures. The forecast and positive factors are record high affordability index, near record low interest rates, first time buyer tax credit, economic recovery in 2nd half but slow,
NAR sent out 133,000 questionnaires to consumers. Results of questionnaires show that 41% were first time buyers, median age of first time buyers was 30 years old and repeat buyers were 47 years old. The median household income was $74,900 for all, $60,600 for first time buyers and $88,200 in repeat buyers. 20% were single females and 10% were single males, 87% of all buyers used the internet while 94% where aged 25-44. Typical buyers searched for 10 weeks. 81% used an agent, 43% found agent via referral, 78% would definitely used same agent again.
84% of sellers used an agent, 85% would use again, 38% found agent via referral. 60% reduced price once or more and typically sold for 96% of the latest list price. 42% offered incentives like closing costs or home warranty.
License law update-you cannot discuss seller concessions with appraiser unless you receive permission from client.
Prohibited practices by title business. They cannot provide printing or paying for advertising or promotional material for broker/agent, furnishing or paying for equipment, phones, gas cards etc., paying for food or drinks at events designed to promote listings like open houses, paying for or providing continuing education, paying for sporting or entertainment events, information related to comps, demographics or farming lists, mortgage or lien info prior to receipt of title exam order.
One place went away at midnight last night so please make sure you get your One Place sign down and your new signs up ASAP.
At Coldwell Banker we never stop moving. What has marketing done lately? In February the “I know it’s a good time to buy” TV radio spots started. April/May the tour from the curb radio, flyers & eCards started and the CBWS Previews on the internet started, June the CBWS eMarketing advantage started. The goal is to go continue to help create powerful sales associates, expanding the visibility of the Coldwell Banker brand and assist in making the company profitable.
CB Mortgage pre-purchase rate protection is really recommended now that the rates are starting to go up. They have a new mortgage hotline that is open 7 days a week. The number is 513-298-1878
ProRealtour is working at modifying it to allow the consumer to enter through texting and giving the agent the ability to now capture the buyer’s information.
Happy birthday to our June birthdays-Evelyn, Barb and Claire and also to our July birthdays-Gary, Karan, Mary Pletz and Mike.
Congratulation to Meredith, Doc, Dawn & David for their excellent “Service Satisfaction Survey”.
Tuesday, June 9, 2009
Linda's schedule for the rest of the week
I will be out of the office – Wednesday afternoon – Sunday. Returning Monday.
Thursday, June 4, 2009
What are you doing to create more business? You need to perform a self evaluation of your real estate business. Are you prospecting, do have a sphere of influence, or call FSBO’s. Here are marketing ideas. When was the last time you sent out a postcard or mailing campaign – you must be consist. 1. Are you providing a “Free” report or market evaluation? 2. Do you have a list of 50 or more people on your sphere of influence? According to NAR -40% of people found their real estate agent thru referrals from others. 3. Do you call the list on a regular basis? 4. Do you have a farm area or subdivision? 5. Do you call the FSBO’s? 6. How many hours do you invest in prospecting? 7. Do you have a regular time each day set aside for new business? 8. What do you believe consumes the majority of your time? 9. Do you have one creative marketing idea that was successful? Holly did a post card with all photos of the homes she sold and mailed it on a regular basis. Dawn does recipe cards and calendars. 10. When was the last time you had an open house? OK now how would you rate yourself? Outstanding or needs improvement or satisfactory? Are you sending the prelist kit with the listing contract and your resume before meeting with a seller? Linda said if someone comes thru your open house and leaves you a phone number then you can call them even though they are on the Do Not Call list. Linda will be having her surgery on June 26. It is out patient and she will probably be out 3-4 weeks for recovery
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