Internal News Service Weekly Report for AEs

Realtor ® The Weekly Report for Association Executives Internal News Service From the National Association of<br />
                                    Realtors ®
March 23, 2016  
In This Issue
    • Existing-Home Sales Fizzle in February
    • AEC Liaison, BOD Appointments Sought
    • April 1 Is Deadline to Purchase Excess Insurance
    • Rebecca Grossman Named 2017 AEC Vice Chair
    • Young Buyers Like the Suburbs

    • FTC Warns On Real Estate Phishing Scams
    • NAR Seeks to Address Online Tax Advantage
    • Appraisers Not Home Inspectors, NAR Says
    • Credit Union Hosts Assoc. Financial Webinar
    • RCE Luncheon: Leadership From My Seat

NAR News

Existing-Home Sales Fizzle in February
After increasing to the highest annual rate in six months, existing-home sales tumbled in February, with low supply levels and continuing price growth thwarting buyers, NAR says.

AEC Liaison, BOD Appointments Sought
Applications are being accepted for 2017 AE Committee Key Liaison appointments to serve on NAR committees and fill two of four AE spots on the 2017 NAR Board of Directors. Application deadline is April 13. For more info contact Cynthia Bair, 800/874-6500. 

April 1 Is Deadline to Purchase Excess Insurance
As part of NAR's Professional Liability Insurance program, associations and multiple listing services can increase the coverage limits for certain areas of the program through the purchase of excess coverage. Excess coverage is available for purchase electronically or through forms provided in the annual mailing. Deadline is April 1. More info is on REALTOR.org. Also, ACE has completed its merger with CHUBB, so the name of the insurer for the NAR Professional Liability Insurance program is CHUBB. For more info contact Amy Hamen or Finley Maxson.

Rebecca Grossman Named 2017 AEC Vice Chair
Rebecca Grossman, RCE, of the Scottsdale (Ariz.) Area Association of REALTORS®, has been appointed 2017 AE Committee vice chair. Her term starts in November 2016, immediately following the REALTORS® 2016 Conference and Expo. She begins serving as vice chair-elect during the upcoming REALTORS® Legislative Meetings & Trade Expo in May in Washington. For more info contact Cindy Sampalis, 312/329-8302

Young Buyers Like the Suburbs
Young households like urban areas as renters but once they decide to buy, they gravitate to the suburbs. That trend is covered in the latest Voice for Real Estate news video. Other topics: NAR’s push to get easier FHA condo financing passed in the Senate, how rising home prices are souring renters on buying, concerns over the Clean Water Act’s applicability to more places, and the recent fizzle in home sales. The video includes a wrap-up of the AE Institute in San Antonio as well. 

Issue Updates

FTC Warns On Real Estate Phishing Scams
The Federal Trade Commission has posted a warning about hackers who have been breaking into consumer and real estate professional email accounts to get information about upcoming real estate transactions. 

NAR Seeks to Address Online Tax Advantage
NAR wants Congress to hold hearings on legislation that would address the advantage some online retailers have over brick-and-mortar retailers on the issue of tax collection. NAR backs legislation called the Marketplace Fairness Act.

Appraisers Not Home Inspectors, NAR Says
Appraisers shouldn’t be directed to take on home inspection-type duties, NAR says in a letter to HUD on the latest version of an FHA handbook.

New Resources

Credit Union Hosts Assoc. Financial Webinar
REALTORS® Federal Credit Union, a Division of Northwest Federal Credit Union, will host a webinar for association executives and their finance committee members who have fiduciary responsibilities within their associations. The webinar will be led by Victoria Gillespie, senior vice president of REALTORS® Federal Credit Union, Wednesday, March 23, from 1 to 2 p.m., Eastern Time. Gillespie and Jonathan Adams of Northwest Financial Advisors will discuss best practices on investing. The Credit Union is a proud partner in the REALTOR Benefits® Program and offers financial services to NAR members and to associations and their staffs. Register.

RCE Luncheon: Leadership From My Seat
Tickets are available for the RCE Leadership Luncheon at the REALTORS® Legislative Meetings and Trade Expo on Friday, May 13, from 11:30 a.m. to 1 p.m.  Bradford Fitch, president and CEO of the Congressional Management Foundation, will talk about the importance of following power shifts in Congress, helping participants connect with lawmakers, and how to build relationships with elected officials. In addition, 22 associations will be recognized for their 100th anniversary, and three AEs will be inducted into the Dr. Almon R."Bud" Smith Leadership Society. Tickets are $65 and attendance will add five points to the RCE Applicant Data Form (ADF). For more info contact Krystal Allen.

AEI Handouts and Evaluations Available
Presentations and handouts from the AE Institute last week in San Antonio are being made available online. Check regularly to see if the material you want has been added. Also, provide feedback on the session pages by March 31. The feedback helps with planning on future conferences. For more info contact Courtney Wilson

6 Ways to Warm Up Website Leads
Let your members know they can download a guide from realtor.com® on building relationships and increasing conversions. 

Best Places to Build Apartments This Year
In case you missed it: Analyst Rick Wilson of Axiometrics will be giving his take on good places to build apartments in a sponsor webinar on Thursday, March 24, at 2 p.m., Eastern Time. Wilson will also be sharing his thoughts on markets that will be attracting jobs and younger households, whether apartments should be built in the suburbs or urban areas, and where he sees rents heading. He'll also be sharing his three- and five-year forecasts to help with planning for real estate professionals who specialize in apartments.


Legal

Buyer Rep Owed Commissions
A buyer who closed a purchase transaction with a buyer rep even though he had previously signed a representation agreement with another agent breached his contract and owes the original buyer rep the commission amount, the Appellate Court of Connecticut ruled, affirming the trial court. 

No Duty to Disclose Off-site Conditions
The United State Court of Appeals for the Third Circuit ruled that New Jersey's property condition disclosure law did not require a developer to disclose the personality traits of a buyer’s neighbor, who allegedly harassed the buyer following her purchase of a home from the developer.

 
Report compiled by Robert Freedman, 202/383-1012. NATIONAL ASSOCIATION OF REALTORS®
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